3 ASX All Ordinaries stocks surging on strong results

These shares are enjoying an earnings season boost after releasing their results today.

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The S&P/ASX All Ordinaries Index (ASX: XAO) is marginally higher in lunchtime trading but these three stocks are well into the green amid the release of their latest financial results.

ASX All Ordinaries stocks are up 0.15% at the time of writing.

Let's take a look at these three outperformers.

3 ASX All Ordinaries stocks defying today's sluggish trading

Scentre Group (ASX: SCG)

ASX All Ordinaries property Scentre Group is rising 4.36% to $2.755 after the Westfield shopping centres owner reported its half-year results for the six months to 30 June.

Funds from operations (FFO) came in at $556.6 million, up 1.5%, and distributions totalled $427.7 million, up 10%. This is in line with the group's full-year FY23 guidance.

Statutory profit was $149.4 million, including an unrealised 0.6% property valuation decrease compared to 31 December.

The group also reported its highest half-year net operating income and an 8.25 cent distribution to shareholders, payable 31 August.

Scentre Group CEO Elliott Rusanow said:

Our strategic focus on providing our customers with more reasons to visit our 42 Westfield destinations has delivered strong operating performance and continued growth in earnings and distributions for our securityholders. Net Operating Income increased by 10% to $971.9 million. This is the highest level of Net Operating Income the Group has ever achieved in a first half period.

SRG Global Ltd (ASX: SRG)

SRG Global shares are up 1.39% to 73 cents after the company revealed a record profit in its FY23 full-year results.

The ASX All Ordinaries construction, maintenance, and mining services group reported underlying earnings before interest, taxes, depreciation, and amortisation (EBITDA) of $80.1 million, up 40%.

It also reported earnings per share (EPS) of 6.7 cents per share (cps), up 34% on FY22.

It has a record amount of work in hand, worth $1.9 billion, up 46% on FY22.

SRG issued FY24 guidance of circa 20% EBITDA growth.

It will pay shareholders a fully franked final dividend of 2 cps, up 33%. This makes SRG Global shares one of the biggest dividend-boosters of the season so far

The full-year FY23 dividend totals 4 cps, up 33% on FY22.

Managing Director David Macgeorge said:

SRG Global has delivered a record profit result in FY23. This provides further evidence of the execution of our strategy and transformation to a truly diversified industrial services company which is delivering outstanding results for shareholders.

Ingenia Communities Group (ASX: INA)

The Ingenia share price is up 2.72% to $4.15 per share after the ASX All Ordinaries lifestyle and retiree communities property developer released its FY23 full-year results.

Ingenia revealed an underlying profit of $84.7 million, down 4% on FY22, and a statutory profit of $64.4 million, down 33%.

The company said the fall was "prior year primarily due to the impact of lower revaluation increments across the Group's investment properties".

Group revenue rose 17% to $394.5 million, reflecting growth in core revenue streams.

Operating cash flow fell 28% to $82.5 million due to an increase in completions and work in progress, along with higher borrowing costs.

Underlying EPS fell 11% to 20.8 cps and statutory EPS fell 38% to 15.8 cps.

Ingenia will pay a distribution of 5.8 cps on 21 September. The full-year distribution of 11 cents per share is the same as FY22.

Ingenia's CEO, Simon Owen said:

Earnings were affected by first half construction challenges, now largely abated, and a slowing residential market which was impacted by the unprecedented twelve consecutive interest rate rises.

Revenue and EBIT increases on the prior year were delivered as we benefited from an expanded asset
base as well as growth in rents across the residential portfolios, and further strong performance from the holidays business.

Our balance sheet remains strong, we are well funded, and we will continue with our targeted divestment program.

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 no position in any of the stocks mentioned. 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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