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This ASX 200 share delivered the highest share price gains this earnings season

This top-performing share exceeded even its own expectations.
The post This ASX 200 share delivered the highest share price gains this earnings season appeared first on The Motley Fool Australia. –

The ASX 200 share that delivered the highest share price gains this earnings season goes to… WiseTech Global Ltd (ASX: WTC).

Why WiseTech topped the ASX 200 last month

The WiseTech share price surged sky high on 25 August after the company released its FY21 results.

It would rally as much as 58.7% to an all-time high of $57.31 before lunchtime, before closing 28.5% higher at $46.50.

Perhaps what’s equally as impressive is the fact that WiseTech shares have managed to steadily grind higher post-earnings.

Tuesday marked a record close for the company’s shares, lifting 5.73% to $48.34. That’s a cool 57% increase in August.

The race for the best performance last month was close. We saw Afterpay Ltd (ASX: APT) lift 39% following its takeover offer from Square Inc (NASDAQ: SQ). And Domino’s Pizza Enterprises Ltd. (ASX: DMP) ran 34% higher after an upbeat FY21 results announcement.

How did WiseTech perform in FY21?

WiseTech emerged as the best performing ASX 200 share this earnings season after its FY21 results topped its own expectations.

Revenue increased 18% to $507.5 million, at the top end of its guidance range of $470 million to $510 million.

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 63% to $206.7 million, exceeding its guidance range of $165 million to $190 million.

In addition, underlying net profit after tax (NPAT) doubled to $105.8 million, while free cash flow also delivered a triple-digit increase of 149% to $139.2 million.

WiseTech founder and CEO Richard White commented on the improving logistics market and tailwinds for the business.

We have continued to see a ‘goods-led’ recovery in global trade resulting in tighter capacity, congestion and higher rates in global logistics channels. Whilst these higher rates do not translate into immediate revenue growth for WiseTech, we are benefiting from the acceleration of the longer-term structural changes that they are driving. In particular, we are seeing consolidation within the sector and increased investment in replacing legacy systems with integrated global technology, such as CargoWise, that drives productivity and facilitates planning, visualisation and control of global operations.

WiseTech provided a positive outlook ahead, forecasting 18% to 25% revenue growth and 26% to 38% EBITDA growth for FY22.

The post This ASX 200 share delivered the highest share price gains this earnings season appeared first on The Motley Fool Australia.

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More reading

These were the best performing ASX 200 shares in August

Here are the top 10 ASX 200 shares on Tuesday

ASX 200 Weekly Wrap: A mixed bag of earnings dominates ASX

3 top ASX results from week four of reporting season

These were the best performing ASX 200 shares last week

Motley Fool contributor Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO, Square, and WiseTech Global. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO and WiseTech Global. The Motley Fool Australia has recommended Dominos Pizza Enterprises 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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