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How did the Corporate Travel (ASX:CTD) share price respond last earnings season?

Corporate Travel Management delivers its full 2021 financial year results tomorrow…
The post How did the Corporate Travel (ASX:CTD) share price respond last earnings season? appeared first on The Motley Fool Australia. –

The Corporate Travel Management Ltd (ASX: CTD) share price is slipping in early morning trade, down 1.24%.

The S&P/ASX 200 Index (ASX: XJO) is heading lower as well, down 0.59%.

The Corporate Travel share price is on investors’ radars today as the ASX 200 travel share prepares to release its full 2021 financial year results tomorrow.

With that in mind, we take a look back to August 2020 to see how shares performed following the release of last year’s financial results.

What results did Corporate Travel report in FY20?

Corporate Travel’s share price closed down 1.8% on 19 August 2020, after the company reported an $8.2 million loss for FY20.

Shares, as we’ll look at shortly, rebounded rapidly over the following weeks.

First, here’s a snapshot of the FY20 results:

Earnings before income, taxes, depreciation and amortisation (EBITDA) of $65 million
Underlying net profit after taxes (NPAT) of $32 million
Statutory loss of $8.2 million
$60 million cash net of client cash and creditors

The ASX 200 travel share saw its revenues dry up in the second half of FY20 in the wake of COVID-19 border closures and lockdowns. It refocused on the domestic market and moved rapidly to reduce costs.

In the fourth quarter it saw revenues lift as it catered to travellers in the essential services sectors, who were permitted interstate travel.

The company cancelled its deferred interim dividend.

Corporate Travel share price snapshot

Although the Corporate Travel share price lost 1.8% on 19 August 2020, the day it released its FY20 results, just 2 weeks later, by 2 September, shares were up by 21%.

Shares were trading at $12.14 at market close prior to the company releasing its FY20 results.

At time of writing, shares are trading for $21.53. That’s a gain of nearly 80% since its last full-year results.

The company has a market capitalisation of $3 billion.

The post How did the Corporate Travel (ASX:CTD) share price respond last earnings season? appeared first on The Motley Fool Australia.

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More reading

Why the Corporate Travel Management (ASX:CTD) share price is outperforming
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Fund manager sees Webjet (ASX:WEB) share price as ‘golden’ opportunity

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 shares of and has recommended Corporate Travel Management Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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