These three stocks are joining the S&P/ASX 200 Index (ASX: XJO) in the red on Tuesday as they tumble on the back of earnings releases.
In fact, they're down by as much as 8.74% right now. At the same time, the ASX 200 is down 0.16% at 7,339.8 points right now.
Let's take a closer look.
3 ASX 200 stocks tumbling on earnings
First off the bat, the Monadelphous Group Ltd (ASX: MND) share price is plummeting 8.74% to trade at $12.74 at the time of writing.
It comes after the ASX 200 engineering group posted a 10.5% drop in revenue for the first half, coming in at $953 million. Meanwhile, its net profit after tax (NPAT) fell 3.1% to $29.1 million.
Its dividend for the period was flat with that of the prior year at 24 cents per share fully franked.
But it wasn't all bland. Monadelphous' maintenance and industrial services division posted a record half, with $676.8 million of revenue coming in – a 13.5% jump on strong commodity prices, high production, and aging infrastructure.
Its engineering construction division, meanwhile, saw revenue slump 42.1% to $277.7 million. Its fall came after numerous construction projects completed in the prior financial year.
Joining Monadelphous' stock in the red is that of ASX 200 diversified property group Stockland Corporation Ltd (ASX: SGP). Its stock is down 3.47% right now, trading at $3.755.
That's despite its funds from operations lifting 0.7% to $353 million in the first half.
However, its statutory profit came in 64.6% lower that of the prior comparable period at $301 million. Last half saw a $30 million uplift in commercial property revaluation gains compared to $543 million in the prior period.
It also dropped its residential settlement expectations for financial year 2023 from around 6,000 to around 5,500 on the back of weather-related delays.
Stockland declared an 11.8 cents per share interim dividend – 19.2% lower than that of last financial year.
Finally, stock in ASX 200 fuel refiner and retailer Viva Energy Group Ltd (ASX: VEA) is tumbling. That's despite the company posting record full-year earnings this morning.
Its earnings before interest, tax, depreciation, and amortisation (EBITDA) on a replacement cost basis came in at a record $1.1 billion. That marked a 122% year-on-year improvement.
Meanwhile, its NPAT more than tripled to $596.6 million. Its full-year dividends also rose 270% higher year-on-year to 27 cents per share.
However, the market appears to have expected more. The stock is trading at $2.925, a 3.47% fall.
