These three ASX All Ords shares are tumbling on Friday amid disappointing earnings reports.
As earnings season continues, the S&P/ASX All Ordinaries Index (ASX: XAO) is currently down 0.9%.
Let's review the results from this group of companies.
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ASX All Ords shares on a downward spiral today
IPD Group Ltd (ASX: IPG)
The share price of electrical market services provider IPD Group is down 5.9% to $4.33 despite the company revealing record sales and earnings in its full-year FY23 results. This is the first full financial year of earnings for IPG since it listed on the ASX. It reported a net profit after tax (NPAT) of $16.1 million, representing 45% growth on FY22. The ASX All Ords share will pay a fully franked dividend of 4.7 cents per share, up 27% on the final dividend of FY22.
Australian Ethical Investment Ltd (ASX: AEF)
Australian Ethical Investment also released its full-year FY23 results today, prompting a 5.4% decline for the ASX All Ords share to $4.05 apiece. The funds management company reported an underlying profit after tax of $11.8 million, up 14.6% on FY22, and at the upper end of its guidance. Australian Ethical Investment declared a final dividend of 5 cents per share fully franked. Total annual dividends were 7 cents per share, up 17% on FY22.
Weebit Nano Ltd (ASX: WBT)
ASX All Ords share Weebit Nano is falling 5.3% to $4.82 after the tech company released its full-year FY23 preliminary report. Weebit Nano reported an after-tax loss attributable to members of $38.04 million, up 40.9% on FY22. Chair Dadi Perlmutter said the company had "an exceptional FY23 and enters the new financial year on the cusp of first customer agreements and first revenues".
