Earnings season has gone up a gear on Thursday with countless results being released to the market.
Two ASX All Ords shares that have released results are listed below. Here's what they reported and how investors have responded:
NRW Holdings Limited (ASX: NWH)
The NRW share price is falling 9% today despite the diversified contract services company delivering a result in line with its guidance. The ASX All Ords share reported a 15% increase in revenue to $1.3 billion and a 7.4% lift in EBITA to $80.1 million.
Management has also reaffirmed its full year revenue and EBITA guidance of $2.6 billion to $2.7 billion and $162 million to $172 million. However, investors may believe that NRW's first half performance means the lower end of its guidance range is more likely now.
Ridley Corporation Ltd (ASX: RIC)
Investors have responded significantly better to this premium quality, high-performance animal nutrition solutions provider's half year results. The ASX All Ords share is up over 11% at the time of writing. Ridley Corp reported a 25.4% increase in revenue to $637.9 million and a 20.3% lift in net profit (before significant items) to $21 million.
A key driver of this growth was its Packaged Feeds and Ingredients segment, which delivered a 21.9% increase in earnings. This was supported by its Ingredient Recovery business, which reported strong results from accessing premium markets with differentiated products. Another positive was that higher selling prices for protein meals and tallows more than offset increased raw material and manufacturing costs.
Looking ahead, while no guidance has been provided, management advised that it expects its earnings to improve over the prior corresponding period.
