These three ASX 200 shares rocketed higher on earnings updates today

What did investors like about these results?

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Key points

  • These three ASX shares performed strongly today 
  • All three companies delivered solid results 
  • On top of that, each of these ASX shares declared a dividend 

The S&P/ASX 200 Index (ASX: XJO) climbed 0.52% today, but three ASX 200 shares soared even higher on financial results.

The Home Consortium (ASX: HMC), Iluka Resources Limited (ASX: ILU) and Netwealth Group Ltd (ASX: NWL) share prices all lifted today.

Let's take a look at what led to these ASX 200 shares outperforming the index.

Iluka

ASX 200 mining share Iluka rose 9.84% today on half-yearly results. The company reported a nearly 186% boost in net profit in its H122 results. Iluka's earnings before interest, tax, depreciation, and amortisation (EBITDA) also soared 70.5% to $525.5 million. Net total cash lifted to $600.3 million.

Iluka managing director Tom O'Leary said: "in a macroeconomic environment characterised by inflation and uncertainty, we increased margins and strengthened our balance sheet".

In positive news for dividend investors, Iluka lifted its interim fully-franked dividend by 108.3% to 25 cents per share.

Netwealth

Netwealth shares soared 7.02% today. This follows the ASX 200 financial services share reporting a 2.7% lift in net profit to $55.6 million. Revenue lifted 19.6%, while operating expenses jumped 30.7%. Netwealth declared a fully franked final dividend of 10 cents per share. Total dividends for FY22 were 20 cents, 8% more than FY21. Netwealth is predicting inflows of $11 to $13 billion in FY23.

Home Consortium

The Home Consortium share price rocketed 10.85% today amid its FY22 full-year results. The company lifted its funds management revenues by 490% compared to FY21. External assets under management also exploded 321% to $5.8 billion.

Commenting on this result, CEO David Di Pilla said:

We strengthened the capital position of our funds through opportunistic asset sales which took advantage of the disconnect between property and global capital markets.

The ASX 200 property share said it is "well positioned" going into FY23 with strong momentum.

Home Consortium delivered a fully-franked FY22 dividend of 12 cents per share, the same as FY21.

Motley Fool contributor Monica O'Shea has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Netwealth. The Motley Fool Australia has positions in and has recommended Netwealth. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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