The Ansell Limited (ASX: ANN) share price is taking off following the release of the company's full-year earnings.
The S&P/ASX 200 Index (ASX: XJO) stock has continued on an upwards trajectory after opening 1.5% higher at $25.52.
At the time of writing, the Ansell share price is $27.57, 9.67% higher than its previous close.
Let's take a closer look at today's news from the personal protection and safety solutions provider.
Ansell share price rockets 10% on earnings
As The Motley Fool Australia reported earlier, Ansell posted US$1.95 billion of revenue and US$158.7 million of operating profit for financial year 2022.
Those figures mark respective year-on-year declines of 3.7% and 35.7%, mainly due to waning demand born from COVID-19.
Its earnings per share (EPS), meanwhile, came in within guidance at US$1.252 per share. That's bolstered to US$1.386 when adjusted for costs arising from the company's exit of Russia. Its decision to abandon operations in the nation brought a 13.4 US cent impact to its EPS.
Such a result has seemingly impressed the market. It's bid the Ansell share price to a multi-week high on the back of the company's announcement. The results also appear to have pricked the ears of experts.
Macquarie's David Bailey was quoted by The Australian as saying the company's financial year 2022 earnings embody "solid underlying trends".
The publication said the company's statutory result was in line with expectations, while its adjusted earnings were ahead. The expert continued, courtesy of The Oz:
For [financial year 2023], we see commentary ex-Russia and [foreign exchange] as highlighting improved trends and a basis for growth into [financial year 2024].
Ansell posted guidance of between US$1.15 and US$1.35 of EPS for financial year 2023.
Today's gains included, the Ansell share price is 16% lower than it was at the start of 2022. It has also fallen 31% since this time last year.
