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.
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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.
