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.

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Key points

  • ASX All Ordinaries stocks may be down by a collective 0.6% today but these ASX shares are on an upward trajectory 
  • Service Stream, McMillan Shakespeare, and Propel Funeral Partners released their 1H FY23 results this morning 
  • We chart the performance of these ASX All Ordinaries stocks over the past 12 months

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.

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.

Motley Fool contributor Bronwyn Allen 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 recommended McMillan Shakespeare and Propel Funeral Partners. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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