Reporting Season Scorecard: 23 August 2021
About the author:
- Author name:
- By Tom Sartor
- Job title:
- Senior Analyst
- Date posted:
- 23 August 2021, 10:10 AM
- Sectors Covered:
- Junior (Emerging) Resources, Bulk Materials
A total of 39% of the ASX300 and 68% of the ASX50 have reported their results. Our analysts reveal the trends so far, result highlights and the outlook for FY22.
A snapshot with one week remaining
- 39% of the ASX300, 68% of the ASX50 have reported
|Surprise vs Disappoint
- Beats comfortably exceeding misses (by ~2.5:1) dominated by small-caps this time (3.3:1)
- Looks sensible. Beats up 6.1%; Misses down 4%
- Suncorp (SUN), Pinnacle Investment Management (PNI), Carsales (CAR), QBE Insurance Group (QBE), Inghams (ING), Treasure Wine Estates (TWE), Corporate Travel Management (CTD), Orora (ORA)
|Notable recommendation changes
- Morgans: OZL, S32, GWA, BLX, RBL, EBO
- Consensus: STO, AQZ, TAH, SEK, TLS, DHG
- Cautious overall. Only ~25% of large caps have offered FY22 guidance, Lockdown warnings
- Percent of companies growing dividends up strongly, recovering toward pre-COVID levels.
- Resumed dividends – SGM, SXL, FBU, CCP, DOW, COH, BEN, IAG, TAH, CIM, CGF
|Trends so far
- Industrials looking through the commodities sell-off and sluggish/ uncertain FY22 Outlook
- Market maintains a conservative outlook – Forecast dividend contraction in FY22
- Insurers (tightening cycle), Resources cost pressure, Cyclicals
- Flagged beats OP ASX200 by 190 bps since July preview (PNI, CAR, AMS), Best ideas (+50bps)
- Commodities weakness, Offshore anxiety regarding Fed tapering/ China
Find out more
You can find further detailed analysis of company results this reporting season by browsing our reporting season tag, and view a full list of upcoming results on our Reporting Season Calendar.
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Disclaimer: Analyst may own shares. The information contained in this report is provided to you by Morgans Financial Limited as general advice only, and is made without consideration of an individual's relevant personal circumstances. Morgans Financial Limited ABN 49 010 669 726, its related bodies corporate, directors and officers, employees, authorised representatives and agents (“Morgans”) do not accept any liability for any loss or damage arising from or in connection with any action taken or not taken on the basis of information contained in this report, or for any errors or omissions contained within. It is recommended that any persons who wish to act upon this report consult with their Morgans investment adviser before doing so.
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