'Exciting time': 4 All Ords shares that are reporting season winners

August gets the analysts at QVG pumped up. Here are the ASX stocks they love after their results.

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The analysts at QVG Capital Long Short Fund love reporting season.

Why? Because it's the time of the year when hype takes a back seat to raw facts and figures.

"This is an exciting time for fundamental investors like QVG as share prices often rapidly revert towards reflecting underlying business fundamentals," the team stated in a memo to clients.

Here are four All Ordinaries Index (ASX: XAO) beauties the QVG analysts love after their financial results:

Delivering for investors

Altium Limited (ASX: ALU) shares rocketed 25.9% on the day the company's results came out.

The QVG team was suitably impressed with the technical design software maker.

"Altium continues to move customers to more feature rich and higher price point products and have allayed concerns for their parts search volumes decreasing," read the memo.

"The most important feature of their result and guidance was the reacceleration in subscriber growth and the forecast of faster revenue growth in FY24."

After an 86% climb out from its June 2022 trough, six out of 15 analysts currently surveyed on CMC Markets reckon the All Ords tech stock is a buy.

Meanwhile, everything is falling into place for construction materials supplier James Hardie Industries plc (ASX: JHX).

"James Hardie beat earnings expectations by 16% and provided guidance for impressive margins," read the QVG memo.

"Good cost control, falling input costs and an improving demand outlook provide cause for optimism."

The James Hardie share price has already soared 79% since the start of this year.

A remarkable turnaround narrative

It was only a few months ago investors condemned payments technology provider EML Payments Ltd (ASX: EML) as a basket case.

Incredibly, the All Ords stock has shot up 55% since the morning of August 29, when its latest results were released.

"EML Payments is the only turnaround story in the portfolio quite simply because turnarounds rarely turn. 

"The new board and management team is what attracted us to the stock and we've now benefited from the improving earnings outlook."

The QVG team is treading cautiously though.

"We remind ourselves that execution is difficult and we will monitor keenly to see how much value can be unlocked."

Services contractor Mader Group Ltd (ASX: MAD) has seen its stock price grow steadily over the course of 2023, to more than double year to date.

"Mader delivered 48% earnings growth and backed it up by guiding to another 30% growth next financial year," read the QVG memo.

"Guidance given so early in the financial year needs to be conservative and suggests they continue [to] win work in their key markets."

Motley Fool contributor Tony Yoo has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Altium, EML Payments, and Mader Group. The Motley Fool Australia has positions in and has recommended Mader Group. 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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