3 ASX All Ordinaries shares rocketing over 5% on strong earnings updates

Guess which ASX All Ords stock is rocketing 9% despite slashing its dividend 66%.

| More on:
Three businesspeople leap high with the CBD in the background.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The All Ordinaries Index (ASX: XAO) is back in the green today, helped along by these three shares. They're each leaping as high as 13% on news of their first-half performances.

Right now, the All Ordinaries is up 0.35%, trading at just over 7,640 points.

Let's take a look at the stocks roaring higher on the back of earnings updates.

3 ASX All Ordinaries shares soaring on earnings updates

First up is All Ordinaries share Sims Ltd (ASX: SGM). It rocketed nearly 9% to trade at $15.95 earlier today despite the metal recycling company revealing tumbling profits.

However, reports UBS has upped its price target for Sims stock to $16 might also be bolstering it on Tuesday.

The company's underlying post-tax profit for the first half came in at $53 million. That marks an 80.3% fall on that of the prior comparable period (pcp).

Its sales revenue also dropped 10% to $3.8 billion. Meanwhile, its interim dividend was slashed by 66% to 14 cents per share.

CEO and managing director Alistair Field said the downturn was driven by lower steel prices and weakening customer demand, while high fuel prices and decelerating economic activity saw scrap volumes slump.

Meanwhile, investors in All Ordinaries fleet management solutions company SG Fleet Group Ltd (ASX: SGF) will likely be happy with the news driving its share price higher. The stock leapt to a high of $2.36 earlier today, representing a 13% gain.

The company posted a $41.9 million post-tax profit for the first half – marking a 41% year-on-year improvement.

It also declared an 8.91 cents per share interim dividend – a 7.1% increase on last year's.

All that was despite continuous supply chain difficulties, which will likely push benefits forward to be realised in coming periods.

Finally, All Ordinaries retailer KMD Brands Ltd (ASX: KMD) technically didn't release earnings today. However, its share price is soaring on an update on its first-half trading, peaking at $1.03 – a 6% gain.

The company is behind brands Kathmandu, Rip Curl, and Oboz.

It announced record first-half sales of around $546 million today – a 34% increase on that of the pcp.

Its underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) for the half year is expected to come in at $45 million.

The company will post its audited results on 22 March.

Motley Fool contributor Brooke Cooper 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.

More on Earnings Results

Three smiling corporate people examine a model of a new building complex.
Earnings Results

Pexa share price jumps on 'strong' half-year result

This property technology company's shares are ending the week on a high.

Read more »

A man with a beard and wearing dark sunglasses and a beanie head covering raises a fist in happy celebration as he sits at is computer in a home environment.
Technology Shares

RPMGlobal share price up 9% amid tech stock rally

Tech stocks are leading the market today following a NASDAQ surge overnight.

Read more »

A businesswoman looks out a window at a green, environmental project.
Earnings Results

Australian Ethical share price jumps 6% on strong FY24 half-year result

The fund manager reported a lot of green numbers in its HY24 result.

Read more »

A businesswoman angrily throws her papers into the air.
Earnings Results

How is the Block share price rocketing 17% on Friday?

ASX 200 investors are sending the Block share price flying higher today.

Read more »

A woman wearing a gold top and carrying a gold bar gives the thumbs down signal as she leans against a wall with a sombre look on her face as the Kingsgate share price goes lower
Earnings Results

Guess which ASX 200 gold stock is crashing on US$2.5b loss

This gold miner's results haven't gone down well with the market.

Read more »

a smiling woman looks towards the camera as she tends to the engine under the lifted bonnet of her car.
Earnings Results

Bapcor share price resilient following record half year revenues

ASX 200 investors are mulling over Bapcor’s half year results today.

Read more »

Group image of Aussie Broadband leaders Michael Omeros, Phillip Britt and Brian Maher.
Earnings Results

Aussie Broadband share price rockets 11% after bumper results and upgraded guidance

The premium internet services provider also announced leadership changes.

Read more »

Close up of a sad young woman reading about declining share price on her phone.
Earnings Results

Accent share price sinks 8% on earnings slump and dividend cut

This footwear retailer's earnings took a dive during the first half.

Read more »