3 ASX All Ordinaries stocks climbing on strong earnings updates

The ASX All Ords index may be down but these stocks are heading north today.

Bronwyn Allen

Author bio Bronwyn has 28 years of experience in journalism, copywriting, and media relations. She began her career as a reporter with News Corporation in Sydney in 1997. She later worked for two real estate corporations in communications and PR roles, then started her own freelance copywriting and publicity business. A keen shares investor, Bronwyn joined the Motley Fool Australia team as a copy editor and writer in June 2021. Areas of expertise ASX shares and ETFs News writing Macroeconomic trends Real estate Education Diploma in Journalism, Macleay College Social media LinkedIn Favorite investment quote "Don't look for the needle in the haystack. Just buy the haystack." — John C. Bogle, Vanguard founder and pioneer of index investing for ordinary investors

Published February 22, 2023 12:36 pm AEDT

S&P/ASX All Ordinaries Index (ASX: XAO) stocks may be down a collective 0.37% but these three ASX shares are heading higher after their 1H FY23 results were released today.

Let's take a look at what these companies reported.

three businessmen high five each other outside an office building with graphic images of graphs and metrics superimposed on the shot. — Image source: Getty Images

Service Stream Ltd (ASX: SSM)

This ASX All Ordinaries stock is up 5.04% to 62.5 cents at the time of writing.

In its half-year results, Service Stream announced a strong financial performance underpinned by the successful integration of Lendlease Services (LLS). Highlights include a 75.5% boost to revenue at $993.6 million. Underlying earnings before interest, taxes, depreciation, and amortisation (EBITDA) from operations came in at $55 million, up 40.1%. Adjusted net profit after tax (NPAT) is $17.1 million.

The telecommunications company said it has a solid balance sheet with a closing net debt of $91.2 million. Service Stream declared a fully franked interim dividend of 0.5 cents per share payable on 6 April.

McMillan Shakespeare Ltd (ASX: MMS)

This ASX All Ordinaries stock is up 5.24% to $13.65 at the time of writing.

The employee benefits provider also released its half-year results today. Highlights include a 5.7% increase to normalised EBITDA at $67.2 million and a 0.3% boost to normalised underlying net profit after tax and acquisition amortisation (UNPATA) at $40.4 million. If the United Kingdom business is excluded (given the company is considering exiting this market), UNPATA increased by 8.5%.

The company declared an interim fully franked dividend of 58 cents per share payable on 24 March. This is a 70% increase on last year's interim dividend.

Propel Funeral Partners Ltd (ASX: PFP)

This ASX All Ordinaries stock is up 0.91% to $4.44 at the time of writing.

The funeral services company says, "materially higher funeral volumes and stronger average revenue per funeral contributed to … continued growth in key financial and operating metrics in 1H FY23". Revenue is up 23.3% to $83.8 million, operating EBITDA is up 25.6% to $23.1 million, and operating NPAT is up 34.9% to $11 million. Propel says it has strong cash flow conversion and funding, with $44 million committed to five acquisitions over FY23 to date.

Propel Funeral Partners declared a fully franked interim dividend of 7.1 cents per share.

Automatic Renewal

By taking up this offer, you will also be enrolled in our auto-renewal program, which is our way of making your ongoing subscription easier by ensuring uninterrupted service. Don't worry, though – you're not locked in, and can cancel your auto-renewal at any time before each 'anniversary' date without question or penalty.