In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the street with a bang. At the time of writing, the benchmark index is up 1.3% to 7,966.8 points.
Four ASX shares that have failed to follow the market's lead are listed below. Here's why they are falling today:
3P Learning Ltd (ASX: 3PL)
The 3P Learning share price is down almost 3% to $1.05. This follows the release of the education technology company's full year results. 3P Learning reported a 2.5% increase in revenue to $110 million. This fell short of its guidance for revenue of $112 million to $115 million. Also falling short of guidance was its EBITDA, which dropped 24.3% to $12 million. This compares to its guidance of $13 million to $15 million. No guidance has been issued for FY 2025, but management "expect both revenue and Underlying EBITDA to be better than FY24 performance."
Amcor (ASX: AMC)
The Amcor share price is down 3% to $15.66. Investors have been selling the packaging company's shares following the release of its full year results. Amcor reported a 7% decline in net sales to US$13.64 billion and a 1% decline in adjusted earnings before interest and tax (EBIT) to US$1.56 billion. The good news is that following a positive finish to the year, management is expecting an improved performance in FY 2025.
GQG Partners Inc (ASX: GQG)
The GQG Partners share price is down 3% to $2.77. This is despite the fund manager reporting very strong revenue and profit growth in the first half of FY 2024. GQG Partners posted a 53.1% increase in net revenue to US$363.1 million and a 54.9% lift in net operating income to US$273.2 million. While this is clearly very strong growth, it may still have fallen short of expectations. For example, analysts at Morgans were expecting net operating income growth of 65% for the half.
PWR Holdings Ltd (ASX: PWH)
The PWR Holdings share price is down 17% to $9.75. This follows the release of the automotive cooling products provider's full year results. PWR delivered record revenue and profits for the 12 months ended 30 June. Revenue was up 17.8% to $139.4 million and net profit after tax rose 14% to $24.8 million. However, this appears to have been short of expectations. Bell Potter was forecasting a net profit after tax of $26.8 million. It was also forecasting margin expansion in FY 2025. However, management has warned that its margins will be impacted by further investments.
