Why Domino's, Johns Lyng, Polynovo, and Praemium shares are dropping today

These shares are having a tough time on Tuesday. But why?

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The S&P/ASX 200 Index (ASX: XJO) is having a poor session on Tuesday. In afternoon trade, the benchmark index is down 0.5% to 8,264.6 points.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

A woman with a sad face looks to be receiving bad news on her phone as she holds it in her hands and looks down at it.

Image source: Getty Images

Domino's Pizza Enterprises Ltd (ASX: DMP)

The Domino's Pizza share price is down 11% to $28.59. Investors have been selling the pizza chain operator's shares following the release of its half year results. Domino's reported a 2.9% decline in network sales to $2.08 billion and a 6.7% reduction in EBIT to $100.6 million. Despite this profit decline, the company maintained its dividend at 55.5 cents per share.

Johns Lyng Group Ltd (ASX: JLG)

The Johns Lyng share price is down 32% to $2.57. The catalyst for this has been the release of the insurance building and restoration services company's half year results. Johns Lyng reported a 6.1% decline in revenue to $573.1 million and a 15.2% decline in normalised EBITDA to $54.2 million. Management blamed this on "a challenging operating environment with benign weather conditions across Australia resulting in a reduced volume of insurance claims and CAT-related work." In light of this poor first half, the company has downgraded its FY 2025 guidance. It is guiding to revenue of $1.167 billion and EBITDA of $126.5 million. It was previously guiding to revenue of $1.228 billion and EBITDA of $132.5 million.

Polynovo Ltd (ASX: PNV)

The Polynovo share price is down 16% to $1.50. This medical device company's shares have fallen heavily this week following the release of its half year results. Polynovo reported a 28.1% increase in sales to a record of $54.1 million and a 23.9% increase in net profit after tax to $3.3 million. However, causing some alarm bells to ring was its $12.5 million operating cash outflow for the half. In addition, no guidance was provided for the full year.

Praemium Ltd (ASX: PPS)

The Praemium share price is down 11% to 77.5 cents. This morning, this investment platform provider released its half year results and revealed a 32% increase in revenue to $52.3 million and a 45% jump in net profit after tax to $5.8 million. Though, it also recorded an operating cash outflow of $5.2 million for the half. In other news, the company revealed that its CFO has resigned and will be leaving at the end of next week.

Motley Fool contributor James Mickleboro has positions in Domino's Pizza Enterprises. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Domino's Pizza Enterprises, PolyNovo, and Praemium. The Motley Fool Australia has recommended Domino's Pizza Enterprises, Johns Lyng Group, and PolyNovo. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Fallers

A man dressed in a business suit freefalls from a rocky cliff with a grey sky background.
Share Fallers

Why DroneShield, WiseTech and Judo shares are leading the ASX 200 lower this week

WiseTech, DroneShield, and Judo shareholders have had a week to forget. But why?

Read more »

A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the share price declines.
Share Fallers

Why Judo Capital, Minerals 260, Santos, and Worley shares are dropping today

These shares are under pressure on Thursday. What's going on?

Read more »

A man with his back to the camera holds his hands to his head as he looks to a jagged red line trending sharply downward.
Share Fallers

Why Aurelia Metals, Beach Energy, IAG, and Rio Tinto shares are falling today

These shares are having a tough time on hump day. What's going on?

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Fallers

Why Centuria Capital, Iluka, Metcash, and Reliance Worldwide shares are falling today

These shares are having a tough session on Tuesday. What's going on?

Read more »

Frustrated stock trader screaming while looking at mobile phone, symbolising a falling share price.
Share Fallers

Why Humm, Metcash, PLS, and WiseTech shares are sinking today

These shares are starting the week in the red. But why?

Read more »

A bored man sits at his desk, flat after seeing the latest news on the share market.
Share Fallers

Why Aeris, Newmont, PLS, and REA Group shares are tumbling today

These shares are ending the week in the red. But why?

Read more »

Frustrated and shocked businesswoman reading bad news online from phone.
Share Fallers

Why Air New Zealand, Emeco, ResMed, and Westgold shares are tumbling today

These shares are having a poor session on Thursday. But why?

Read more »

Man with a hand on his head looks at a red stock market chart showing a falling share price.
Share Fallers

Why Karoon Energy, Novonix, Transurban, and Woodside shares are sinking today

These shares are having a tough time on hump day. What's going on?

Read more »