The ASX reporting wrap-up: Challenger, Megaport, James Hardie

Just what the investor ordered. Here’s a recap of the companies that reported today…
The post The ASX reporting wrap-up: Challenger, Megaport, James Hardie appeared first on The Motley Fool Australia. –

Tuesday has drawn to a close… it’s the second day of the week and the market is alight with ASX shares reporting earnings. Markets reacted with cheer to today’s big-name results with an acquisition announcement thrown into the mix.

We’ll quickly unpack today’s results and then wrap it back up for tomorrow:

Those that delivered today

Challenger Ltd (ASX: CGF)

Shares in the investment management company increased 1.9% to $5.89. This followed the release of the company’s FY21 results and the announcements of the CEO’s retirement.

The takeaway points:

Net income down 14% to $682 million.
Normalised net profit after tax down 19% to $279 million.
Group assets under management (AUM) up 29% to $110.0 billion.
Fully franked, full-year dividend of 20.0 cents per share, up 2.5 cents per share on FY2020.
Managing Director and CEO Richard Howes to step down in March 2022

Megaport Ltd (ASX: MP1)

The Megaport share price gained 3.05%, putting it at $17.90 by the close of the ASX today. The move followed the interconnection services company reporting its strong full-year results to the ASX. Additionally, Megaport also announced the acquisition of an AI-powered multi-cloud company known as InnovoEdge.

The takeaway points:

Revenue increased 35% year on year to $78.28 million.
Monthly recurring revenue (MRR) jumped 32% to $7.5 million (annualises to $90 million)
Customers increased 443, or 24%, to 2,285
Ports grew 1,922, or 33%, to 7,689
Average revenue per port down $2 to $978
Net loss of $55 million but cash position of $136.3 million
US$15 million acquisition of InnovoEdge

James Hardie Industries PLC (ASX: JHX)

Lastly, shares in James Hardie jumped 2.9% to $49.32 today. At one point, the ASX-listed materials manufacturer surpassed the $50 barrier, setting a record high. The price appreciation followed a solid first-quarter result.

The takeaway points:

Sales up 35% over the prior corresponding period to US$843.3 million
Adjusted earnings before interest and tax (EBIT) jumped 45% to $180.5 million
Net income up 50% to US$134.2 million
Operating cash flow down 3% to US$184.1 million
Full year net income guidance upgraded

ASX shares reporting tomorrow

Wednesday is set to be a big one with a few more results to be reported by ASX-listed companies. These include Commonwealth Bank of Australia (ASX: CBA), Insurance Australia Group Ltd (ASX: IAG), and Mineral Resources Ltd (ASX: MIN).

The post The ASX reporting wrap-up: Challenger, Megaport, James Hardie appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of May 24th 2021

More reading

ASX 200 rises, Challenger and James Hardie up on results

Why ASX lithium shares are surging to new highs today

Why BlueBet, James Hardie, Megaport, & Novonix shares are racing higher

Is now a good time to buy Bendigo and Adelaide Bank (ASX:BEN) shares?
ASX 200 midday update: James Hardie hits record high, Pilbara Minerals rockets

Motley Fool contributor Mitchell Lawler owns shares of Commonwealth Bank of Australia. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended MEGAPORT FPO. The Motley Fool Australia owns shares of and has recommended Challenger Limited and Insurance Australia Group Limited. The Motley Fool Australia has recommended MEGAPORT FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!