3 ASX All Ords shares falling hard on earnings updates

It's a hard day to be a shareholder of these companies.

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It's been a mildly pleasant day for the All Ordinaries Index (ASX: XAO) and most ASX All Ords shares so far today. This Tuesday has seen the All Ords add 0.1% at the time of writing.

But let's talk about three All Ords shares that aren't faring nearly as well as the broader market. And it's thanks to some poorly-received earnings reports.

3 All Ords shares plunging on earnings updates

Alumina Limited (ASX: AWC)

All Ords share Alumina is first up. This alumina and aluminium producer has just given investors a look at its half-year results covering the first half of 2023.

Investors don't seem too impressed with the net loss after tax of US$38.7 million that Alumina has just revealed. No doubt income investors were also disappointed with the lack of a dividend for the first half of the year.

Alumina's joint venture with the US aluminium producer Alcoa, AWAC, didn't exactly light up the sky either. AWAC brought in US$102 million in earnings before interest, tax, depreciation and amortisation (EBITDA) over the half, down significantly from the US$836 million we saw over the same half last year.

AWAC also reported a net loss after tax of US$67 million, down from last year's profit of US$439 million.

So it's not really a surprise to see the Alumina share price down a hefty 7.07% at present at $1.22 a share.

Perenti Ltd (ASX: PRN)

Mining services company and All Ords share Perenti is next up. Releasing its full-year results for FY2023 today, Perenti is another stock that is disappointing investors. At present, the Perenti share price is down a horrid 15.7% to $1.02. Frankly, it's hard to see why, looking at these latest earnings.

Perenti has just revealed that its revenues for FY2023 rose by 18% to $2.9 billion. EBITDA was also up significantly, rising 30% from FY2022's figures to $553 million. Net profits after tax (NPAT) also rocketed higher, spiking 58% to $132 million.

Perhaps it's Perenti's conservative guidance for FY2024 that is spooking investors. This All Ords share is pencilling in revenue of between $2.8 billion and $3 billion for the current financial year. Or perhaps the markets were just expecting more from Perenti.

Australian Clinical Labs Ltd (ASX: ACL)

Finally, let's take a look at All Ords healthcare share Australian Clinical Labs. This morning, ACL dropped its full-year results for FY2023. And they weren't pretty. The company reported that its revenue for the financial year came in at $697.1 million, down 30% from the $995.6 million ACL posted last financial year.

Earnings before interest and tax (EBIT) also fell heavily, down 76.7% from last year's $266.6 million to $62 million. ACL's NPAT was also down heavily, falling from $178.2 million in FY2022 to $35.9 million in FY2023.

Investors will be treated to a 7 cents per share final dividend in October, down from 41 cents per share last year.

ASX investors have not taken kindly to these earnings, and the Australian Clinical Labs share price on the All Ords is currently down 13.35% to $2.79.

Motley Fool contributor Sebastian Bowen 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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