3 ASX All Ords shares that leapt higher on FY22 results today

These three All Ords companies outperformed the market today.

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Key points

  • The All Ordinaries Index made a modest gain today, while the share prices of some companies it tracks are trending much higher
  • These companies delivered strong revenue and earnings results with positive developments in their fundamentals
  • The outlook for most of them in FY23 and beyond is also positive

The S&P/ASX All Ordinaries Index (ASX: XAO) closed the session on Thursday up 0.68% to 7,291.9 points.

Earnings season is upon us and some companies have rallied strongly today after posting their results.

Let's examine three ASX companies in the All Ordinaries index that had a great day today.

Silex Systems Ltd (ASX: SLX)

The Silex Systems share price finished up 11.75% today at $3.71. The shares reached an intraday high of $3.78 early this afternoon — a new 52-week high.

The tech company reported its results for the full year of FY22 this morning. Silex System's revenue increased 112.5% year over year (yoy) to $4.39 million. Meanwhile, its net loss for the year was $9.46 million, up 36.6% yoy.

Silex Systems noted that it made progress in its global laser enrichment commercialisation project for uranium and utilising nuclear energy.

Among the highlights, the company responded to a request from the United States Department of Energy (DoE) for information on its high-assay low-enriched uranium (HALEU) project in February.

The US Government has supported the HALEU project to the tune of $700 million as part of its Inflation Reduction Act that was passed this month.

No dividend was declared with the results.

Karoon Energy Ltd (ASX: KAR)

The Karoon Energy share price closed 8.4% higher today at $2.07. Earlier, the shares fetched a high of $2.09.

The global energy company reported growth in its top and bottom lines in its FY22 results posted this morning. Sales revenue increased 125.46% yoy to US$385.1 million. Its earnings before interest, tax, depreciation, and amortisation (EBITDA) totalled a (US$28.4 million) loss, down from the US$11.4 million gain in the prior corresponding period.

Net profit after tax (NPAT) also took a large hit in FY22. It totalled a loss of (US$64.5 million), down from a profit of US$4.4 million recorded in FY21.

Product volumes were also higher than in FY21, with 4.64 million barrels produced.

In terms of guidance for FY23, Karoon Energy expects its unit production costs to fall, while its other operating costs will see a rise.

Production costs are expected to fall to US$15/bbl to US$20/bbl, down from US$25.36/bbl in FY22.

Other operating costs will rise to between US$23 million and US$25 million. This is an increase from US$16 million in FY22.

Karoon Energy said it would consider returning value back to shareholders in the form of dividends and share buybacks after completing its investments in Baúna interventions and the Patola development.

Peet Limited (ASX: PPC)

The Peet share price closed up 2.75% today to $1.12. Earlier, they traded for $1.13.

The real estate development company announced its full-year earnings for FY22 this morning.

The company reported a statutory net profit after tax of $52.3 million, up 84% yoy. Sales had a gross value of $1.06 billion, up 23% yoy. EBITDA was $86 million, up 48.02% yoy and statutory profit after tax was up 84% yoy to $52.3 million.

A final fully franked dividend of 4 cents per share was declared. The record date is 19 September and the dividends will be paid on 14 October.

For the mid and near-term outlook, the company stated that its growth is supported by strong labour market conditions and constrained land supply.

On the other hand, the rise in interest rates is expected to be a headwind moving forward, leading to a tapering off of demand in FY23.

Other forces cited as impacting its fundamentals include increased overseas migration and population growth that will drive sales.

Motley Fool contributor Matthew Farley has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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