The Magnis Energy Technologies Ltd (ASX: MNS) share price has shot up this week.

The price movement comes as the financial activity of the company's chairman continues to be investigated by the Australian Securities and Investments Commission (ASIC).

At the market close, the Magnis share price had dropped by 5.49% to 43 cents. However, it is still up 4.87% from last Friday's closing price.

So, what's going on with the battery manufacturer?

Magnis chairman under investigation

As reported by The Australian on Tuesday, ASIC has requested documents pertaining to the trading activity of Magnis chairman Frank Poullas.

According to The Australian, letters sent to Magnis by senior ASIC officials in September, seen by the publication, "show the corporate regulator is investigating suspected contraventions of Corporations Act provisions relating to market manipulation and the false trading of shares".

Information tying the company with "Dubai-based financiers" has also been requested.

Further, The Australian said:

The regulator has separately warned investors who appear to be using Telegram and other messaging platforms to manipulate the Magnis share price that they face prosecution.

This comes after the company last month announced the Imperium3 lithium-ion battery plant in New York — of which Magnis is the major shareholder — was now 57% complete.

The long-delated project had been expected to start production in 2019.

Chairman's financial activity in question

The financial activity of the chairman is also under question after a number of payments from Magnis were made to Strong Solutions — a company linked to Poullas.

The Australian said an internal report, handed to Poullas in early 2020, showed Strong Solutions was billing Magnis $4,500 a month.

The report noted Poullas was charging Magnis his consulting fee with "no independent oversight of this fee or oversight of work undertaken".

Magnis responds to media coverage

In mid-November, Magnis entered a trading halt before responding to an article in The Australian that claimed Poullas was under investigation by ASIC.

In its response, the company said the article had "a number of unsubstantiated statements regarding the Company".

The Magnis share price fell by more than 19% on the day of the response. Since then, two board members have also jumped ship from the company.

Magnis share price snapshot

In the last 12 months, the Magnis share price has increased by 65%. Within that time, shares dropped as low as 26 cents and shot as high as 76 cents. Its shares are down 25% this year to date.

The company has a market capitalisation of $439.42 million.

The post The Magnis (ASX:MNS) share price has climbed 5% this week. What's been happening? appeared first on The Motley Fool Australia.

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Motley Fool contributor Alice de Bruin has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The Block Inc CDI (ASX: SQ2) share price took a dive today, with a number of other tech shares following suit.

The S&P/ASX 200 Info Tech Index (ASX: XIJ) fell by 3.6% today, making it the worst-performing sector on the ASX. Meanwhile, the S&P/ASX All Technology Index (ASX: XTX) fell by 2.8%.

At the close of trading today, the Block share price was down 9.2% to $152.95.

So, what happened with tech shares today?

Block share price crumbles on ASX today

On Tuesday, the Block share price soared by as much as 13% despite no news from the US-based payments company. It has now given back those gains and is finishing the week down 0.5%.

Block is the company that acquired ASX market darling Afterpay. The buyout took close to six months to complete and was finalised on 1 February.

Not long after the acquisition, Block released its financial results for FY21. In it, the company announced a 62% increase in year-on-year gross profits and a substantial increase in net revenue and net income.

Since listing on the ASX on 20 January, the Block share price has dropped by 13%.

ASX tech shares slip

Last night, the NASDAQ index dropped and futures contracts are indicating there will be more of the same tonight, as my fellow Fool James reported here.

Alongside Block, other tech share prices that were shredded today include Zip Co Ltd (ASX: Z1P). The Zip share price closed at $1.72, down 8% for the day. Sezzle Inc (ASX: SZL) shares fell by 6.8%.

Zip recently announced its acquisition of Sezzle, which will require a capital raise to complete. Zip completed its institutional placement on Tuesday. A Share Purchase Plan will follow in due course.

Since Zip announced its plans, its shares have dropped by 14% (since exiting its trading halt on 1 March).

In times of market uncertainty, ASX investors tend to see tech shares as riskier and gold stocks as a safe haven. As my fellow Fool Bernd reports, the price of gold is soaring due to increasing inflation and geopolitical instability following Russia's invasion of Ukraine. This is supporting ASX gold shares.

The post Why did the Block (ASX:SQ2) share price sink 9% today? appeared first on The Motley Fool Australia.

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The Santos Ltd (ASX: STO) share price is sinking today, along with a number of other ASX energy shares.

Many ASX energy share prices have seen substantial increases in recent weeks, due to soaring gas and oil prices as a result of Russia's invasion of Ukraine. However, now many are seeing prices readjust as oil prices soften.

One of which is the Santos share price, which is down 1.34% to $7.735 at the time of writing. Also in the red is rival oil and gas company Woodside Petroleum Limited (ASX: WPL), which is falling 0.67% to $31.13.

In fact, all S&P/ASX 200 Energy Index (ASX: XEJ) shares are falling today. After a month of being the best performing sector on the ASX, it is the second-worst performing today, down 1.57% at the time of writing,

So, what's going on with Santos today?

Dorado project update

Just yesterday, Santos shares hit a 52-week high of $8.11, alongside climbing oil prices. However, the price of oil eased overnight, which could be contributing to the drop in the Santos share price today.

Additionally, the company today provided an update on its Dorado project in Western Australia.

It has begun a financing process for the project and expects front-end engineering and design (FEED) to be "ready by mid-calendar 2022".

Santos initially announced the Dorado project at the end of June last year, describing it as "an integrated oil and gas project".

It is to be developed in two stages. "Detailed design and engineering work for the production facilities for the Dorado phase 1 liquids development continues to progress as expected," Santos said.

The company added:

The Dorado liquids are an extra light, sweet product with externally provided market analysis indicating sales are likely to achieve a premium to Brent.

Final capital cost definition is being undertaken as part of the FEED process and will be finalised ahead of a Final Investment Decision (FID). Given the Dorado Project is in shallow water, near existing infrastructure and is an infantry-standard design, initial operating cost estimates have confirmed that this project will be a low unit cost operation.

In addition, Carnarvon Energy Limited (ASX: CVN) is starting to find ways to "fund its share" of the project, in which it holds a 20% stake. Santos holds the majority share of the project.

Carnarvon managing director and CEO Adrian Cook said:

Various sources of capital are being pursued to optimise the Company's balance sheet and extract the most value from this high-quality asset. I look forward to sharing further progress updates in the coming months.

How has the Santos share price been performing?

Since the beginning of this year, the Santos share price has increased by around 23%. It is up 4.6% over the past 12 months, 5% over the past month, and more than 9% over the past week.

The company has a market capitalisation of $26.55 billion, a last reported revenue of $4.8 billion, and a price-to-earnings ratio (P/E) of 18.

The post Here's why the Santos (ASX:STO) share price is struggling today appeared first on The Motley Fool Australia.

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Motley Fool contributor Alice de Bruin has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The 88 Energy Ltd (ASX: 88E) share price has jumped significantly this week.

The price movement coincides with updates on two of the oil and gas explorer's Alaskan projects — including a rig mobilisation and an oil interception.

At the time of writing, the 88 Energy share price is up 2.08% today at 4.9 cents. That's a 28.9% gain on last Friday's closing price of 3.8 cents. For comparison, the All Ordinaries Index (ASX: XAO) is currently down 0.17%.

So, what's going on with 88 Energy?

Icewine oil obtained

The company's Project Icewine site is located in the North Slope of Alaska — an area pertaining to about 195,000 acres in which the company has a 75% stake.

Today, the oil explorer announced that light oil had been "recovered" during tests at the neighbouring Pantheon Resources' Talitha-A well.

As the Pantheon well is located 2.8 miles north of Icewine, 88 Energy says "all targets are interpreted to extend into 88 Energy's Project Icewine acreage".

The data from Pantheon, along with results obtained last year, will go into an "independent resource report for Project Icewine focusing on the eastern leases in the first half of 2022".

Peregrine site update sparks 88 Energy share price jump

On Tuesday, the oil explorer gave an update into its Project Peregrine site — more specifically, its Merlin-2 well — also located in the same region of Alaska.

The well was initially spudded (drilled) in March last year, with drilling operations completed the following month.

A rig has been mobilised for drilling next week. It will be initially dug to a depth of 2,000 feet, with permission to extend to 8,000 feet.

88 Energy said a well production test has been implemented, with "equipment placed on standby during initial well site operations".

Further, 88 Energy reported:

Flow testing of Merlin-2 will be contingent upon the wireline results, in particular the MDT outcomes, as well as government approvals and weather window considerations.

The company has a 100% working interest in the site.

The 88 Energy share price surged 9.5% on the day of the announcement, and 13% the following day.

What did management say?

Commenting on the Peregrine update, 88 Energy managing director and CEO Ashley Gilbert said:

We are now entering the final phase of pre-spud preparations and look forward with excitement to the next few weeks of drilling operations.

Success at Merlin-2 has the clear potential to be transformational for our shareholders and we look forward to providing updates as the drilling of this appraisal well progresses.

88 Energy share price performance

Over the past 12 months, the 88 Energy share price has increased by 380%. It saw a jump of 135% over four days in April last year after the explorer released an update on its Peregrine site.

Its shares have also soared by 92% this year to date.

The company has a market capitalisation of $762.48 million.

The post Why the 88 Energy (ASX:88E) share price has jumped 29% in a week appeared first on The Motley Fool Australia.

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Motley Fool contributor Alice de Bruin has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The A2 Milk Company Ltd (ASX: A2M) share price is falling today amid comments from the company regarding implications of the New South Wales flooding.

Recovery could take months, if not years, a spokesperson for A2 Milk told The Australian today.

At the time of writing, the A2 Milk share price is down 0.91% at $5.45. To compare, the wider All Ordinaries Index (ASX: XAO) is up 0.72%.

Let's take a look at what the company said.

A2 Milk products impacted by Queensland flooding

Chances are, you've already heard and seen images of the flooding in NSW — deemed the worst the state has ever seen.

And while many residents are evacuating, A2 Milk's four farm sources in Lismore are currently all underwater. Thankfully, a spokesman for the dairy company told The Australian that all four of its suppliers "reported they are all safe and stock has been accounted for".

However, there are serious ramifications for the sites themselves. These include "flooded paddocks, severe pasture damage, and rising floodwaters, which have cut off roads in low-lying areas, restricting access for milk tankers", the A2 spokesman said.

A2 also warned there could be delays collecting milk from farms. Cows are milked twice a day and if milk cannot be collected or stored, it goes to waste.

It all adds up to a long recovery process, according to the spokesman:

The clean-up process on pastures can take months, sometimes years, before cropping or grazing can resume … our farmers are an important part of the A2 Milk Company, and our farm services team will continue to provide support to our farming families during these challenging times.

A2 Milk share price snapshot

The A2 Milk share price has dropped by 42% in the last 12 months. It fell from a high of $9.68 a year ago to a low of $4.97 last month.

Despite today's news, Bell Potter still considers A2 Milk as a buy, anticipating an earnings rebound.

The company has a market capitalisation of $4.09 billion, a last reported revenue of $1.2 billion, and a price-to-earnings ratio (P/E) of 218.

The post A2 Milk (ASX:A2M) share price slips amid 'long-term implications' of flooding appeared first on The Motley Fool Australia.

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Motley Fool contributor Alice de Bruin has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended A2 Milk. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The Hot Chili Ltd (ASX: HCH) share price is soaring after the miner announced an offtake agreement for its Chilean copper site.

Hot Chili is an ASX-listed copper exploration and development company operating in Chile's Atacama Region.

At the time of writing, the Hot Chili share price is up 17% at $1.60. To compare, the broader S&P/ASX All Ordinaries Index (ASX: XAO) is up 0.74%.

So, what did the copper explorer announce?

Largest shareholder to buy 60% of copper production

Hot Chili has announced it will enter into an offtake agreement with its largest shareholder, Glencore. The agreement covers 60% of future copper concentrate production from Hot Chili's Costa Fuego copper-gold project.

As of August last year, Glencore holds a 9.96% stake in Hot Chili.

Costa Fuego is a large-scale copper site that includes the Cortadera copper site and the Productora copper-gold project.

Chili says the site is ideal in a "low altitude, coastal range of Chile, infrastructure rich, low capital intensity" area.

The agreement will be in place for eight years and effective from the start of commercial production.

During that time, Glencore will be able to have Board representation and participate in a technical steering committee, as long as it maintains at least a 7.5% stake in Hot Chili.

What did management say?

Hot Chili managing director Christian Easterday said:

The quality of Costa Fuego continues to be externally validated with Glencore's 2021 equity investments and the execution of this Offtake Agreement on commercially competitive terms.

We ensured project financing flexibility with 40% of our first eight years of concentrate production remaining uncommitted ahead of initiating project financing discussions in 2022, following completion of the Costa Fuego Pre-Feasibility Study.

Glencore's expertise and support is welcomed and is an important part of our strategy to successfully transform the Company into a material copper-gold producer.

Hot Chili share price snapshot

The Hot Chili share price has seen a volatile 12 months, trickling down by 32%. In fact, the shares hit a 52-week low of $1.25 just last week.

The company has a market capitalisation of $149.77 million.

The post Heating up: Hot Chili (ASX:HCH) share price leaps 17% on new copper deal appeared first on The Motley Fool Australia.

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Motley Fool contributor Alice de Bruin has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

As the tensions in Europe continue to increase due to the Russian invasion of Ukraine, so do global oil and gas prices.

In fact, according to Trading Economics, the price of WTI Crude oil jumped to an 11-year high yesterday, hitting more than $112 per barrel.

Meanwhile, in order to regulate prices, the United States and a number of other countries have agreed to release up to 60 million barrels of emergency oil reserves.

So what does this mean for renewable energy companies?

Let's take a look…

Traditional fuel sources skyrocket

Over the last month, the S&P/ASX 200 Energy Index (ASX: XEJ) has been the best performing sector on the ASX, increasing by 12.75%, with the S&P/ASX 200 Materials Index (ASX: XMJ) coming in second.

At time of writing, the energy sector is up 3.2% so far today.

And in correlation, many traditional fossil fuel companies have been benefitting from the oil and gas price hikes. For example, natural gas giant Woodside Petroleum Limited (ASX: WPL), has seen its share price climb by about 22% over the past month. In fact, the Woodside share price has hit a new 52-week high today of $31.99, continuing to climb after yesterday's milestone.

Similarly, the Whitehaven Coal Ltd (ASX: WHC) share price has hit a new 52-week high today of $3.95. Over the last month, its shares have increased by around 40%.

ASX renewable energy shares not so green

On the other side of the fence, a handful of ASX renewables shares haven't seen the same price gains.

Energy, transport and social infrastructure company Infratil Ltd (ASX: IFT) has seen its shares lift by around 4.8% over the past month. They have also risen by 12.5% over the past 12 months.

It's been a contrasting tale for two other ASX renewable energy shares. Contact Energy Limited (ASX: CEN) shares are trading just over 4% higher over the past month, whereas the Mercury NZ Ltd (ASX: MCY) share price has slipped 0.37%.

As these price movements are significantly lower than fossil fuels shares, some investors may be concerned their environmental, social, and governance approach to investing (ESG) may be coming at the expense of potential profits.

Investors wanting renewable change

However, despite increased demand from traditional fuel sources, some investors are remaining positive about seeking climate change solutions.

Following Woodside's climate report and future target report released yesterday, the Investor Group on Climate Change (IGCC) released a report today, calling these targets "often inadequate, or hard-to-assess".

IGCC director of corporate engagement Laura Hillis said:

For the first time, public companies have a clear and comprehensive picture of what investors want in businesses' plans to get ready for a net zero economy. Australia's biggest superannuation and investment funds have made their expectations very clear, and we think businesses will appreciate that.

This guide should help raise the bar for Australian businesses as they seek to align with the expectations of the market in a rapidly decarbonising world.

Renewable energy expected to rebound

As reported by The Australian Financial Review on Wednesday, BlackRock Investment Institute chief regional strategist Ben Powell says the renewable energy sector is brighter than ever. He suggests the current unstable energy situation instead symbolises a need to transition to clean energy solutions.

This energy transition is ongoing and if anything, some of the vulnerabilities have been made very clear in the last few weeks, and the importance of the investment into the energy transition infrastructure is even clearer.

It's not only a green issue, but also a broader supply issue now. We would see this as an accelerant to the transition towards energy sources of the future because energy sources of the past have shown to be fraught with challenges un the last few weeks.

With that in mind, investors will no doubt be keeping a keen eye on the evolving situation in Europe, and the effect it has on both traditional and renewable ASX energy shares.

The post Are ASX green energy shares losing their appeal amid rising oil and gas prices? appeared first on The Motley Fool Australia.

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Motley Fool contributor Alice de Bruin has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The S&P/ASX 200 Energy Index (ASX: XEJ) was the best performing sector on the ASX today, closing the day 4.89% higher. The S&P/ASX 200 Materials Index (ASX: XMJ) came in second, gaining 2.81%.

The price movements come as global commodity prices climb amid conflict between Russia, Ukraine and the rest of the world.

Against that backdrop, an Aussie cobalt developer has received government support for its project in New South Wales.

At market close, the Cobalt Blue Holdings Ltd (ASX: COB) share price was up 20.65% to 55.5 cents. In comparison, the broader ASX All Ordinaries Index (ASX: XAO) was up 0.21%.

So, what's going on with this ASX mining share?

Renewable energy project receives Government support

Cobalt Blue's Broken Hill Cobalt Project (BHCP) was awarded "Major Project Status" by the Australian government today — a move that will support the development of the project over three years.

The project aims to produce "high quality, battery ready cobalt sulphate" for renewable energy solutions.

The company says the project has the potential to be "one of the largest cobalt producers in the world" and has the attention of "more than 30 of the world's largest battery manufacturers".

Cobalt Blue said the government grant gives "formal recognition of the national economic implications of the BHCP through its contribution to growth, productivity, government revenue, industry and regional development".

Further, the company said the project was "the only large scale, ex African, Greenfield primary cobalt project globally".

Critical minerals projects such as BHCP are integral components of The Australian Critical Minerals Strategy and Australia's Long Term Emissions Plan as well as aligning with national security and interests to bolster geopolitical stability and building sovereign capability in the sector.

Project to position Australia as 'number 2 cobalt producer'

Commenting on the development, Cobalt Blue CEO Joe Kaderavek said:

Granting Major Project Status to the Broken Hill Cobalt Project will greatly assist COB to raise development capital by recognising the strategic importance given to this Project by The Australian Government.

This milestone is particularly important for overseas partners and well timed in our development journey.

COB can now boast both Made in Australia and Backed by Australia.

Cobalt Blue share price snapshot

Over the last 12 months, this ASX mining share has increased 37% in value.

It's also risen more than 12% this year to date.

The company has a current market capitalisation of around $170 million.

The post This ASX mining share rocketed 21% today. Here's why appeared first on The Motley Fool Australia.

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Motley Fool contributor Alice de Bruin has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The Whitehaven Coal Ltd (ASX: WHC) share price is pushing higher alongside a number of other ASX energy stocks today.

This comes amid rising commodity prices — a likely reaction to Russia's invasion of Ukraine and the economic sanctions being imposed on Russia by other countries.

At the time of writing, the Whitehaven Coal share price is up 5.33% at $3.56. To compare, the broader S&P/ASX All Ordinaries Index (ASX: XAO) is up 0.1%.

So what's got investors talking?

What's going on with the Whitehaven Coal share price?

The last time we heard anything official from the coal mining giant was when it released its half-year results on 17 February. In it, the company reported record-breaking profits and earnings, as well as lowered debt.

Despite dropping 6% on the day of the news, the Whitehaven Coal share price increased by 20% overall in February.

Whitehaven shares have likely been boosted today by global concerns of an impending energy crunch as a result of the Russian invasion.

This is boosting commodity prices, with the price of coal up by 9.6% overnight to US$301 per tonne, and up 36% over the past month.

The energy sector is leading the market today, with the S&P/ASX 200 Energy Index (ASX: XEJ) up 4.4%, making it the best performing sector on the ASX. Second is the S&P/ASX 200 Materials Index (ASX: XMJ), which is up 2.5%.

The world is waiting to see the full impact of the economic sanctions placed on Russia. Global energy supply is likely to be disrupted and energy prices are already rising. This is because Russia is a major global energy supplier. In fact, Russia is the largest exporter of oil, natural gas, and hard coal to the European Union.

Sanctions on Russia change the global energy market

Several countries have imposed a number of sanctions on Russia, including the United Kingdom and the United States. The sanctions have limited the activities of a handful of Russian banks and individuals. This includes Russian President Vladimir Putin and other members of the Russian Government.

The US has cut off a number of Russian energy and transport companies from its credit markets, says The Guardian.

The Washington Post reports that the US and other countries plan to dip into an emergency oil reserve of 60 million barrels to try and ease recent petrol price spikes.

The sanctions on Russia could divert global energy demand to other exporters. Last week, Blue Line Futures' chief market strategist, Phil Streible, said a number of commodities could rebound as a result.

Whitehaven Coal share price snapshot

Over the past 12 months, the Whitehaven Coal share price has increased by 134%. The shares traded at a high of $3.64 in October as the price of Australian thermal coal hit a new record.

The company has a market capitalisation of $3.49 billion.

The post Why is everyone suddenly talking about Whitehaven Coal (ASX:WHC) shares? appeared first on The Motley Fool Australia.

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Motley Fool contributor Alice de Bruin has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The Woodside Petroleum Limited (ASX: WPL) share price is currently 5.61% higher at $30.24 — making it the best performing ASX energy share at the time of writing.

The S&P/ASX 200 Energy Index (ASX: XEJ) is up 4.7% so far, also making it the highest performing sector on the ASX today.

By comparison, the wider S&P/ASX 200 Index (ASX: XJO) is up just 0.16%.

So, what's going on with Woodside today?

Oil prices rising

Woodside's increased share price is riding the wave of rising oil and gas prices on commodity markets.

According to Trading Economics, Brent crude oil is up more than 5% today to US$110.77 a barrel and natural gas is up 2.4% to US$4.68 MMBtu.

Russia's invasion of Ukraine has put a strain on oil prices amid growing concern over "supply disruption", with Russia a "key exporter".

According to The Guardian, the United States and a number of other countries are set to access their emergency stores of oil in a bid to "stabilise global energy markets".

This comes as the Brent crude oil prices hit a seven-year high.

What's else is going on with Woodside today?

While the company didn't have any price-sensitive news this morning, it released a report on its 2021 climate target progress.

In it, the energy giant revealed that it was on track to achieve its 2025 target of a 15% reduction in greenhouse gas emissions.

Woodside is aiming for a 30% decrease of emissions by 2030, and "net zero" by 2050, "or sooner".

According to the report, the company says its methane emissions for the year accounted for 0.1% of production.

Woodside also outlined a number of energy projects, including its Woodside Solar Project, with an initial phase target of 100 megawatts (MW) and a maximum capacity of 500MW.

Its H2Perth and H2TAS plants are underway, with initial phase targets of hydrogen and ammonia achieved. Its Heliogen solar site is set for construction this year.

According to the company, "increased investment in hydrogen [is] needed to support the Net Zero Emissions 2050 pathway".

Woodside share price snapshot

Over the last 12 months, the Woodside share price has jumped 22%, hitting a two year high today.

The company has a market capitalisation of $29 billion and a current price-to-earnings ratio (P/E) of 13.99.

The post Woodside (ASX:WPL) shares are up 6% today. Here's the lowdown appeared first on The Motley Fool Australia.

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Motley Fool contributor Alice de Bruin has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The Boss Energy Ltd (ASX: BOE) share price has been soaring recently despite no official news from the company. The price surge has coincided with a rise in energy prices across the board.

At the time of writing, the Boss Energy share price is up 2.82% to $2.55. To compare, the ASX All Ordinaries Index (ASX: XAO) is up just 0.11%.

So what's been going on with the uranium producer?

Uranium prices surge

The last we officially heard from the company, it had appointed a new non-executive director. The appointee had previously worked at Boss's new joint venture partner, the Canadian-listed First Quantum Minerals Limited.

The Boss Energy share price jumped 8% on the joint venture announcement on 10 February.

And since its last announcement to the market on 21 February, the Boss Energy share price has jumped by 30%.

However, it's not just Boss Energy shares seeing price increases. At the time of writing, the S&P/ASX 200 Energy Index (ASX: XEJ) is up 3.78% — making it the best performing sector so far today.

It coincides with uranium's performance on commodities markets. At the time of writing, it's trading at US$50.35 a pound, according to Trading Economics. That's up 5% on the day and more than 11% in the past month.

Gas prices up amid Ukraine crisis

Its energy sector cousins are also soaring. At the time of writing, the price of natural gas is US$4.64/MMBtu, up 5% in the past week. Similarly, Brent crude oil is currently fetching US$108.77 a barrel — its highest price in five years.

The surge in energy prices during the last month have been attributed to"supply disruption" concerns surrounding the Russian invasion of Ukraine.

"The traders are becoming increasingly reluctant to buy Russian oil and are dancing payment and delivery difficulties," according to Trading Economics.

Meanwhile, The Wall Street Journal is reporting the US and "other major oil-consuming nations" are tossing up whether to dip into emergency oil stockpiles due to the conflict.

Once Boss Energy restarts uranium operations at its flagship site in South Australia, the miner may have a hungry market waiting. Already many major consumers are looking to switch to carbon-free energy sources — as seen in France and Germany.

Boss Energy share price snapshot

Over the last 12 months, the Boss Energy share price increased by 125%. In that time, Boss shares have seen a 52-week low of 31 cents and a high of $3.08.

The company has a market capitalisation of $719 million and a price-to-earnings ratio (P/E) of around 666.7.

The post Here's why the Boss Energy (ASX:BOE) share price has surged 37% in a week appeared first on The Motley Fool Australia.

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Motley Fool contributor Alice de Bruin has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The Tesserent Ltd (ASX: TNT) share price surged by 15% today after the cybersecurity provider released its half-year results.

The company reported increases in earnings and revenue, alongside the induction of three acquired businesses.

At the market close, the Tesserent share price was up 15.38% at 15 cents. To compare, the S&P/ASX 200 Information Technology Index (ASX: XIJ) closed up 8.14% today.

So what did the IT company report to make its share price skyrocket?

Tesserent share price surges on rise in earnings, revenue

The Tesserent share price surged today on the back of the half-year results for the period ending 31 December 2021. Key takeouts included (against the prior corresponding period):

• Normalised earnings before interest, taxes, depreciation and amortisation (EBITDA) up 102% to $5.6 million
• Turnover up 72% to $62.9 million
• Statutory revenue up 52% to $43.9 million

All in all, the company's annual recurring revenue increased by 44%, though no dividend was declared for the half year.

What else happened?

During the half, Tesserent underwent a branding and integration facelift — remodelling the company as "a single customer-facing brand".

Further, the IT company completed the acquisitions of three businesses — Loop Secure, Clarinet, and Pearson Corporation.

In order to fund these takeovers and "strengthen the balance sheet", the company successfully completed a $25 million capital raise during the period.

This has led to organic growth and a higher turnover, Tesserent said.

What did management say?

Commenting on the results that boosted the Tesserent share price today, executive chairman Geoff Lord:

The management team successfully executed its brand and business unit integration strategy – strengthening Tesserent's commercial position in the market by enabling the Group to enhance its value proposition to existing and new clients and improve gross margins and net margins reported across the business.

Given the significant events that are occurring in eastern Europe, we are also mindful of the heightened level of cyber security risk that exists for Tesserent clients. We note that Tesserent has targeted capabilities to address these risks in its Cyber Enhanced Situational Awareness and Response (CESAR) capabilities.

Tesserent share price snapshot

In the last 12 months, the Tesserent share price has dropped by 54%. It saw a 52-week high price of 33 cents at the end of July, after releasing a quarterly report for the period ending 30 June 2021. However, Tesserent shares hit a 52-week low of 13 cents just yesterday.

Tesserent shares have fallen 12% this year to date and 6% over the past month.

The company has a market capitalisation of $163.56 million.

The post Tesserent (ASX:TNT) share price rockets 15% as earnings, revenue soar appeared first on The Motley Fool Australia.

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Motley Fool contributor Alice de Bruin has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The Blackmores Limited (ASX: BKL) share price has plunged for the second day in a row.

At the time of writing, the Blackmores share price is down 10.23% trading at $75.90, after hitting an intraday low of $72.26 early this afternoon. The S&P/ASX 200 Consumer Staples (ASX: XSJ) is also ending the trading day among the worst-performing sectors on the ASX.

So, what's going on with the natural health company?

What did Blackmores reveal?

Yesterday, the company announced its half-year results for FY22.

The company revealed a 14.3% increase in group revenue to $346 million, a 21.2% increase in underlying earnings before interest and taxes (EBIT) to $38.3 million, and an underlying net profit after tax (NPAT) increase of 9.6% year on year at $20.8 million.

Looking at its operations, Blackmores saw a 49.8% increase in revenue from a number of its international arms — including India, Indonesia and Thailand — totalling $116.2 million. Revenue in China increased by 8.5%.

However, the company noted that Australia and New Zealand did not perform as well, with revenue for the region falling 1.2% to $145.9 million.

What else happened?

Despite feeling the pinch of COVID-19, Blackmores said in its release the company did its best to avoid discounting:

Our strategy to price Blackmores at a premium position to the market was deemed a success in driving higher earnings relative to some of our competitors who use short term deep price discounting to buy market share.

The Blackmores share price dropped by 6% yesterday despite the largely positive results. The timing coincided with the wider S&P/ASX 200 Index (ASX: XJO) falling 3% yesterday to 6,990.6 points in the fallout of Russia's invasion of Ukraine.

What next?

Looking ahead, Blackmores said in its half-yearly report:

Our investments in supply chain capabilities have made Blackmores more resilient and underpin our ability to meet customer demand.

Given the ongoing uncertainty due to COVID-19 across our markets and its impact on global supply chains, these improvements will help us manage what we believe will continue to be a challenging environment throughout the remainder of FY22.

The company also gave investors something to look forward to, — an upcoming dividend (fully franked) of 63 cents per share to be paid on 12 April.

Blackmores share price snapshot

In the last 12 months, the Blackmores share price has dropped 6.7%. Shares in the company fell as low as $63.17 in May last year and climbed as high as $103.97 in November.

The company has a market capitalisation of $1.8 billion and a price-to-earnings ratio (P/E) of 61.1, trailing 12 months.

The post Why is the Blackmores (ASX:BKL) share price tumbling another 10% today? appeared first on The Motley Fool Australia.

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Motley Fool contributor Alice de Bruin has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Blackmores Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The Adbri Ltd (ASX: ABC) share price is soaring after the company released its full-year results for the year ending 31 December 2021.

In it, the construction material producer revealed an increase in profit and revenue and a final dividend of 7 cents per share.

At the time of writing, the Adbri share price is up 9.3% at $3.30. To compare, the S&P/ASX All Ordinaries Index (ASX: XAO) is up 0.38%.

So, what did Adbri reveal today to make its share price fly?

Adbri's financial results for 2021

The Australian producer's full-year financial results were as follows:

• Revenue (from continuing operations) up 8% to $1.56 billion
• Earnings before interest and tax (EBIT) up 18% to $174.9 million
• Net profit after tax (NPAT) up 25% to $116.7 million
• Net debt at $437.4 million.

The company acknowledged an impact on its margins due to COVID-19. As such, it saw a drop in EBITDA margin from 18.7% in 2020 to 17.5%.

Due to these difficulties, it also saw $16.2 million in "non-recurring COVID and operational costs", which were "partially offset by targeted cost savings netting $13.6 million".

Adbri will pay a final fully franked dividend of 7 cents per share on 11 April.

This, along with its interim dividend payment for the year, accounts for a payout ratio of 68.5% of underlying NPAT.

The company has a trailing price to earnings ratio (P/E) of 16.8.

During the 2021 calendar year, the Adbri share price fell 15.8%.

What's next for Adbri?

Looking forward, the company has climate change front of mind.

In five years, the company aims to bring down its greenhouse gas emissions by 7%, and to use 50% of kiln fuel from alternative South Australian sources.

Since 2019, it has achieved a 4% reduction, 2% of which was achieved last year. It also saw 25% of its fuel source achieved as per its FY19 baseline target.

In a press release this morning, managing director and CEO Nick Miller said: "We are progressing the roadmap for our aspiration to achieve net zero Greenhouse Gas emissions by 2050."

Commenting further on the 2021 results, Miller said:

The result is particularly pleasing in the context of significant COVID related challenges and disruption during the year.

Mining and construction demand remain buoyant while the construction materials sector is benefiting from a strong pipeline of infrastructure projects and residential construction approvals.

Adbri remains in a robust financial position with resilient cash flow and a strong balance sheet. Investment grade metrics and available liquidity of $453.7 million ensure we remain well funded to continue with transformative strategic initiatives that drive improved asset performance and operational efficiency, supporting higher shareholder returns over the long term.

Adbri share price snapshot

Since the beginning of 2022, the Adbri share price has increased by 13.8%. To compare, the S&P/ASX 200 Materials Index (ASX: XMJ) has decreased by 2%.

The Adbri share price saw a 52-week high of $3.87 in August 2021 and a 52-week low of $2.70 at the end of January.

The company has a market capitalisation of $1.96 billion.

The post Adbri (ASX:ABC) share price soars 9% amid higher profit in full-year earnings appeared first on The Motley Fool Australia.

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Motley Fool contributor Alice de Bruin has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The Harvey Norman Holdings Limited (ASX: HVN) share price is jumping today.

This morning, the retail giant released its half-year results (for the period ending 31 December 2021). In it, the company reported a drop in profit and an interim dividend of 20 cents per share.

At the time of writing, the Harvey Norman share price is up 2.91% at $5.14. To compare, the broader S&P/ASX All Ordinaries Index (ASX: XAO) is up 0.49%.

So what did the retailer announce?

Harvey Norman share price lifts on results

The retailer revealed the following financials (against its prior corresponding period of 1H21):

• Earnings before interest, taxes, depreciation and amortisation (EBITDA) down 3.3% to $754.41 million
• Revenue (total system sales) down 6.2% to $4.91 billion
• Reported profit (after tax and non-controlling interest) down 6.7% to $430.91 million
• Net assets up 7% to $4.16 billion
• Net debt to equity of 1.46%
• Earnings per share down to 34.58 cents
• Interim dividend announced (fully franked) of 20 cents per share.

While the retailer saw decreases against its 2021 first half (pcp), it fared better than the 2020 first half.

To compare, this half's EBITDA was up 70.2% against 1H20, revenue was up 17.1%, and profit (after tax and non-controlling interest) was up 101.7%.

Similarly, its earnings per share at 34.58 cents this half is up against the 2020 period of 17.7 cents.

As such, the retailer is set to pay a fully franked interim dividend of 20 cents per share on 2 May. The company has a trailing price-to-earnings ratio (P/E) of 7.6.

Since 31 December 2021, the Harvey Norman share price has increased by 1.88%.

What else did Harvey Norman report?

Looking at its bricks and mortar, the retailer achieved a "strong" property segment during the half.

All in all, assets totalled $3.5 billion for the half — an increase of 81.3% to a profit of $197 million.

Looking at its local operations, Australian franchising was down 23.7% due to COVID-19 government-mandated closures trailing over almost four months.

The retailer saw close to 60% of its stores close due to lockdowns, including Australian Harvey Norman, Domayne and Joyce Mayne stores.

However, it saw a rebound of profitability in October last year "with the pent-up demand resulting in an acceleration in franchisee sales post lockdown", the company said.

"This momentum continued into the Christmas trading period despite the looming threat of Omicron."

What did management say?

Harvey Norman chair Gerry Harvey said:

This is a solid result given the unprecedented COVID-19 issues encountered by the consolidated entity during this half.

When you compare the period 1 January 2022 to 21 February 2022 to the previous corresponding period, there is sales growth in all countries, except for Ireland where sales are virtually flat against a strong prior comparable period.

We operate an integrated retail, franchise, property and digital business across eight countries — and our points of difference have proven to be our strengths validating the continued investment in our three main pillars: 108 company-operated retail stores overseas; 194 franchised complexes in Australia across all key product categories within the Home, Lifestyle and Tech markets; a resilient $3.54 billion freehold property portfolio and a $1.12 billion leasehold portfolio that anchors a strong balance sheet.

Harvey Norman share price snapshot

Since the beginning of the year, the Harvey Norman share price has increased by 1.8%. To compare, the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) has dropped by 15.7%.

The retailer has a market capitalisation of $6.21 billion.

The post Harvey Norman (ASX:HVN) share price jumps following half-year results appeared first on The Motley Fool Australia.

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Motley Fool contributor Alice de Bruin has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns and has recommended Harvey Norman Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The Paladin Energy Ltd (ASX: PDN) share price is surging today after the uranium miner released its financial results for the half-year ending 31 December 2021.

The uranium miner reported a cash increase and a net loss decrease from its operations.

At the time of writing, the Paladin share price is up 13.87% at 78 cents. For comparison, the broader S&P/ASX 200 Index (ASX: XJO) is up 0.3%.

So what did Paladin reveal? Let's take a look…

Paladin share price surges on results

Highlights of the uranium miner's H1 FY22 results included:

• Unrestricted cash and equivalents of US$38 million, up 24% from $30.6 million in the prior corresponding period (pcp)
• Net loss of US$11 million, against US$25.4 million in the pcp
• Cash expenditure of US$5.6 million, up 21% on the pcp of US$4.6 million
• No dividend declared

Over the period, the company's net loss (after tax) from its continuing operations decreased by 57% — a drop the miner attributed to "a result of reduced finance costs" and "foreign exchange gains".

It also had a cash expenditure of US$5.6 million, while remaining on track for its full-year expenditure target of $12.2 million.

Between 30 June and 31 December 2021, the Paladin share price increased by 69%.

Langer Heinrich mine update

Looking more closely at its operations, Paladin remains committed to its mining portfolio in Australia and Canada.

It spent US$144,000 from its operating cash flow on new "property, plant and equipment" during the period, along with US$662,000 on meeting "minimum tenement requirements" at its sites.

Additionally, it continued to work towards its goal of restarting the Langer Heinrich mine in Namibia, Africa. During H1 FY22, Paladin released its 'Langer Heinrich Mine Restart Plan Update'. This confirmed an estimated cost of US$81 million to restart the mine and a "17-year mine life supported by ore reserves of 84.8Mt with an average U3O8 grade of 448ppm".

During the period, the company spent $1.57 million on "ongoing care and maintenance" of the site (from operating cash flow). It also spent US$932,000 on restart planning. However, no official restart date for the mine has been set.

Paladin said:

The restart work technical programs are now complete and have reinforced Paladin's confidence in the Langer Heinrich Mine as a robust, competitive long-life operation ready to rapidly restart production in the right uranium price movement.

What did management say?

Commenting on the results fuelling the Paladin share price today, CEO Ian Purdy said:

Our Langer Heinrich Mine remains competitively positioned to take advantage of an improving uranium market. The asset has a proven track record of production having successfully marketed over 43Mlb of U3O8.

Our strong cash position and low expenditure levels coupled with our detailed restart plans and our team of high calibre industry experts will ensure that, when the right uranium pricing market prevails, the Langer Heinrich Mine can be successfully restarted, delivering significant value to all of our stakeholders.

Paladin share price snapshot

Over the last 12 months, the Paladin share price has increased by 96%. For comparison, the broader S&P/ASX 200 Energy Index (ASX: XEJ) has increased by 3.2%. However, Paladin shares are down 12.5% this year to date.

In April last year, Paladin shares were trading as low as 36 cents. In September, shares climbed to a high of $1.12.

Earlier this week, the Paladin share price climbed by 9% despite no official news from the company.

The company has a market capitalisation of $1.83 billion.

The post Paladin (ASX:PDN) share price soars 14% on 'strong cash position' appeared first on The Motley Fool Australia.

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Motley Fool contributor Alice de Bruin has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The Qube Holdings Ltd (ASX: QUB) share price edged slightly higher today following the release of the company's half-year financial results.

While the Qube share price closed at an increase of just 0.36% at $2.82, shares were trading at a high volume today.

To compare, the S&P/ASX 200 Industrials Index (ASX: XNJ) dropped 2.19%, and the broader All Ordinaries Index (ASX: XAO) closed down 2.95%.

Let's dive in…

Qube share price up on rise in revenue

The Qube share price made gains today after the logistics provider reported the following highlights for the half-year (ending 31 December 2021):

• Revenue up 26.7% on the prior corresponding period (pcp) to $1.19 billion
• Earnings before interest, taxes and amortisation (EBITA) up 0.7% to $95.1 million
• Net profit after tax (NPAT) down 2.6% to $56.3 million
• Net profit after tax plus amortisation (NPATA) down 2.3% to $64.8 million
• Earnings per share (EPS) down 2.9% to $3.4 million
• Fully franked dividend of 3 cents per share.

These statutory earnings also account for discontinued operations — including its Moorebank Logistics Park (MLP) in South Western Sydney that was monetised in the middle of December. Qube said this monetisation of the site would realise "substantial value for shareholders".

Excluding discontinued operations, EBITA was $112.3 million.

Qube aims for continued growth

Looking at its underlying earnings (NPATA), Qube experienced a record 16.9% increase against the prior corresponding period. Underlying EBITA also rose 18.9% while underlying EPS was up 15.9%.

Despite facing COVID-19 challenges, the company attributed its earnings to "continued organic growth" and "acquisitions and growth capex (capital expenditure) completed in the prior and current periods".

Looking more closely at its operations, the company saw particular earnings growth at Patrick — "Australia's leading container terminal operator". This came "despite scheduling issues and industrial disputes".

Moving forward, Qube aims to see these earnings and EPS growth continue, should the climate of the wider market and COVID-19 challenges remain favourable.

As such, the company said its "strong balance sheet" would assist its "capital management initiatives of $400 million". These are aimed to start in the second half of the financial year.

Finally, the company revealed a 20% boost to its dividend, to 3 cents per share (fully franked). It will be paid to investors on 8 April.

What did management say?

Commenting on the results that helped edge the Qube share price into the green, managing director Paul Digney said:

This is a very strong result in the face of COVID uncertainty and the global supply chain disruptions. It demonstrates once again the robust and resilient nature of Qube's diversification strategy.

For more than a decade we have been building Qube to ensure diversification by asset, location and customer nationwide.

Qube is well placed to manage any emerging inflationary pressures including through contractual protections, ongoing productivity initiatives to increase efficiency and reduce costs, and pro-active engagement with customers to review their roaster logistics supply chain requirements.

Qube share price snapshot

Over the last 12 months, the Qube share price has dropped by nearly 9%. During that year, its shares saw a 52-week high price of $3.46 in September, following the company's announcement to acquire Newcastle Agri Terminal (NAT).

The Qube share price hit a 52-week low of $2.72 earlier this week.

The company has a market capitalisation of $5.39 billion.

The post Qube (ASX:QUB) share price rises on 'strong result' appeared first on The Motley Fool Australia.

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Motley Fool contributor Alice de Bruin has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The Southern Cross Media Group Ltd (ASX: SXL) share price is crashing today following the release of the company's half-year financial results.

The company reported a large decrease in profit and declared an interim dividend to be paid in April.

At the time of writing, the Southern Cross Media share price is down 10.99% at $1.81. For context, the All Ordinaries Index (ASX: XAO) is also having a shocking day, currently down 2.8%.

Let's read on…

Southern Cross Media share price tanks on results

For the six months ending 31 December 2021 (H1 FY22), the Australian media company highlighted the following:

• Revenue up 0.2% to $259.8 million against the prior corresponding period (pcp)
• Total earnings before interest, taxes, depreciation and amortisation (EBITDA) down 36% against pcp to $48.2 million
• Net profit after tax (NPAT) down 48.3% on pcp to $16.8 million
• Group operating expenses down 2.7% to $213.3 million
• Net debt down 1.9% to $67.7 million.

Despite the drop in earnings, Southern Cross Media said its balance sheet "remains strong". As such, its EBITDA amount (excluding JobKeeper payments and its Public Interest News Gathering grant [PING]) was up 16.3% to $46.5 million.

The company will also pay a fully franked dividend of 4.5 cents per share on 7 April. This is the first time it has paid an interim dividend since 2019.

What else happened in the half?

Looking more closely at its operations, Southern Cross Media's LiSTNR app saw 500,000 new users in the last 12 months. It also had more advertisers taking advantage of its "addressable audiences".

Against its pcp of H1 FY22, audio revenue increased by 11.5% to $193.8 million, and broadcast revenue was up 10.3% to $183.3 million.

Television revenue was down by 22.3% to $65.8m. However, television EBITDA (excluding JobKeeper payments and PING) increased by 27.3% to $17.5 million. This was a double whammy effort, due to the media company's "sales performance" and the changeover of its "television affiliation to Network 10" from 1 July last year.

On the move, CEO Grant Blackley said:

Our open and effective operating relationship with Network 10 delivered above-market returns for both parties.

From 1 April, SCA will take over national sales representation for Network 10 programming in northern NSW and Tasmania which will simplify buying off Network 10 for national advertisers in regional Australia.

Expenses were reduced by $6 million, a portion due to "lower television affiliation fees payable to Network 10".

What did management say?

Commenting further on the results impacting the Southern Cross Media share price today, Blackley said:

The recovery in advertising markets continues to strengthen but is uneven, with Omicron related disruptions tempering the strong momentum from November to December.

Advertising markets in Q4 are expected to benefit from a normalising market, improving consumer and business demand and the upcoming Federal Election.

Southern Cross Media share price snapshot

Over the last 12 months, the Southern Cross Media share price has dropped by 25%. It is also down by more than 5% this year to date.

The company has a market capitalisation of $536.35 million.

The post Southern Cross Media (ASX:SXL) share price drops 11% on profit fall appeared first on The Motley Fool Australia.

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• How to target the different layers of the artificial intelligence buildout
• If I invest $5,000 in NAB shares, what passive income will I receive in FY27?
• If I buy $6,000 of Telstra shares, how much dividend income will I receive?

Motley Fool contributor Alice de Bruin has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The Bega Cheese Ltd (ASX: BGA) share price is dropping following the release of the company's half-year earnings. Bega revealed a large increase in company revenue and a 10% boost to the interim dividend as a result.

So, why has the Bega share price dropped 7.75% to $4.88 (at the time of writing)? Let's dive in…

What did Bega Cheese report?

For the first half of the 2022 financial year (ending 26 December 2021), Bega Cheese reported the following financials:

• Revenue up 113% to $1.5 billion against the prior corresponding period (pcp)
• Earnings before interest, taxes, depreciation and amortisation (EBITDA) up 48% to $97.2 million
• Profit after tax up 29% at $28 million
• Earnings per share (EPS) down 3% at 9.3 cents per share.

Bega Cheese is continuing to reap the benefits from its Lion Dairy & Drinks acquisition announced back in November 2020. This accounted for $787 million of revenue for the half, with the integration of the business progressing well.

What else did Bega tell the market?

COVID-19 remained a challenge for Bega Cheese throughout the first half, creating a financial impact of $20 million.

It wasn't only the workforce affected but supply chains, too. In a statement, Bega said this impacted "prices for direct and indirect internationally sourced materials such as fuel, packaging, resin and coffee".

"Many suppliers of these products were unable to meet delivery windows creating interrupting to manufacturing schedules resulting in increased operational costs," it said.

Net debt increased by $3.7 million (against the previous half ending 30 June 2021) to a total of $328.6 million.

The company declared a fully-franked dividend today of 5.5 cents per share to be paid on 24 March. This is a 10% increase on the FY21 interim dividend of 5 cents and represents a distribution of $16.7 million.

Bega said the boosted dividend "reflects the growth in total earnings…which has strengthened following the acquisition of Bega Dairy and Drinks".

Why is the Bega share price falling when profits are up?

The broader market sell-off today might be part of the reason why the Bega share price has fallen despite the company reporting increased profits. The S&P/ASX 200 Index (ASX: XJO) is down 2.5% at the time of writing.

Looking forward, Bega is focused on managing COVID-19 challenges. It also intends to further capitalise on the opportunities created through its acquisition of Lion Dairy & Drinks.

It also has more products to focus on in the next financial year, including "yoghurt, nutritionals and white milk".

Bega Cheese share price snapshot

Over the past 12 months, the Bega share price has dropped by 20%. It sunk to a 52-week low of $4.84 on 23 December following a performance update for FY22.

A week later, the share price jumped when Andrew Forrest bought a 6.61% interest in Bega for $108 million.

The company has a market capitalisation of $1.6 billion.

The post Bega Cheese (ASX:BGA) share price sinks 7% despite high half-year revenues appeared first on The Motley Fool Australia.

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Motley Fool contributor Alice de Bruin has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The Lovisa Holdings Ltd (ASX: LOV) share price is soaring today. 

This morning, the jeweller released its latest half-year earnings for 1H FY22. It reported higher revenues and increased its dividend payment by 85% compared to 1H FY21.

At the time of writing, the Lovisa share price is up 20.54% at $19.95.

Let's take a deeper look…

What did Lovisa report? 

For the FY22 half-year (ending 26 December 2021), Lovisa highlighted the following financials:

• Revenue up 48.3% to $217.8 million compared to the prior corresponding period (pcp)
• (Statutory) net profit after tax (NPAT) up 70.3% to $36.1 million
• Gross profit up 50.5% to $170.7 million
• (Statutory) earnings before interest, taxes, depreciation and amortisation (EBITDA) up 46.2% to $81.7 million
• Earnings per share (EPS) up 70.3% to 33.7 cents
• Upcoming dividend increased by 17 cents to 37 cents.

At its core, Lovisa aims to bring "brilliantly affordable fashion jewellery to the world". As such, it continued with its "global rollout strategy" during the half, opening 42 new stores. In total, Lovisa now has 589 stores, with 73% located outside of Australia.

What else did Lovisa report?

The jeweller did experience COVID-19 disruptions and challenges during the period. This included temporary store closures in Victoria and New South Wales, as well as in New Zealand and Malaysia.

All in all, this contributed to "overall trading days lost higher than in prior year", shipping difficulties, and heightened costs of doing business (CODB) — up 51.8% to sales.

The jeweller said it used this time for "continued investment in team structure to support building the platform for future growth".

Lovisa sales were up against the pcp. Global sales were up 21.5%, online sales were up 36%, and total sales hit an almost 50% increase, reflecting "strong comps and growth", the jeweller said.

It held a cash position of $52.7 million at the end of the period with no debt.

Finally, it declared an interim dividend (30% franked) of 37 cents to be paid to shareholders on 21 April.

What did management say?

Lovisa also transitioned to new leadership during the period, with Victor Herrero taking the reins as CEO.

Herrero said:

I'm thrilled to take over running the Lovisa business in such a strong position and we are very pleased with the performance for the first half despite the ongoing challenges and disruptions we face globally from COVID.

The team have performed very well through this period and have the business well positioned for the next phase of growth, with the strength of our balance sheet putting us in a great position to take advantage of future opportunities as they arise.

Lovisa share price snapshot

The Lovisa share price is down 0.15% this year to date. To compare, the wider S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) has dropped 15%.

Earlier this month, the team at Macquarie pitched Lovisa as a buy due to its "bold expansion plans".

The company has a market capitalisation of $1.77 billion.

The post All that glitters: Lovisa (ASX:LOV) share price skyrockets 20% on high-profit earnings appeared first on The Motley Fool Australia.

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Motley Fool contributor Alice de Bruin has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Lovisa Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.