Earnings season is in full swing, and several ASX stocks have soared to new 52-week highs following their FY24 results.
Among them are:
- Ansell Ltd (ASX: ANN),
- ARB Corp Ltd (ASX: ARB),
- Nuix Ltd (ASX: NXL),
- Judo Capital Holdings Ltd (ASX: JDO), and
- Ingenia Communities Group (ASX: INA).
Let's dive straight into what's pushed these shares to new heights.
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Ansell: Forecasting growth
Ansell's shares are up around 7% to $29.29 at the time of writing following its full-year results, which showed mixed growth at the top and bottom lines. This level is the company's new 52-week high.
While the company reported a 2.4% decline in sales and a 5.2% drop in earnings before interest and tax, management's upbeat guidance for FY25 may have balanced the weaker results.
Ansell expects earnings per share (EPS) to rise to between US$1.07 and US$1.27 in the coming year, up from US$1.055 last year. The market responded positively, pushing the stock to new highs as investors likely anticipate growth.
ARB hits new 52-week high
Shares of ARB, the 4×4 parts manufacturer, are up over 6% on Tuesday and currently trade at $42.85 apiece.
ARB hit new 52-week highs of $43.35 early in the session before settling at current levels.
In FY24, the company reported a 3.3% increase in sales to $693.15 million and an 18.1% boost in profit after tax to $104.1 million.
This allowed ARB to raise its dividend by 11.3% to 69 cents per share.
The company remains optimistic, citing strong demand for its products and a "strong order book".
Nuix: Revenues drive share price
Nuix is also posting gains on Tuesday, with its share price climbing more than 9% to $4.78 apiece at the time of writing, signalling new 52-week highs.
It reported FY24 earnings last week, with revenues up 21% to $220.6 million.
Pre-tax profits were also up 38% year over year, hitting $64 million, underscored by a 14% increase in annualised contract value (ACV) to $211.5 million.
Management is targeting further ACV growth of 15% in FY25. Investors have pushed the stock to new heights at a rapid pace, with the stock up 46% in the past week.
Judo Capital: Lending growth a standout
Judo Capital shares are up almost 10% on Tuesday to $1.52 after the company posted a strong FY24 performance.
The small business lender reported a 20% increase in gross loans and advances (GLA) to $10.7 billion, driving a 2% rise in underlying profit before tax to $110 million.
Investors are likely excited about Judo's FY25 guidance, which targets 15% profit growth. Management also said lending growth was at a record for June.
Judo shares hit new 52-week highs today, and they are now up 16% in the past month.
Ingenia Communities: Strong sales boost shares
Ingenia shares are around 7% higher at the time of publication and are fetching $5.44 apiece.
The ASX 200 real estate stock reported a 20% increase in revenue to $472 million in its annual results, alongside a 17% rise in EBIT to $125.7 million.
The company settled 462 new homes during FY24 and has a development pipeline of over 5,300 sites.
Investors have piled into Ingenia shares today, and if the trend continues, the company could close at a new 52-week high today.
Ingenia shares are up 22% this year to date.
