Insights

Why is the Boral (ASX:BLD) share price climbing today?

While COVID-19 might have weighed on the company, Boral is expecting a lift after lockdowns…
The post Why is the Boral (ASX:BLD) share price climbing today? appeared first on The Motley Fool Australia. –

The Boral Limited (ASX: BLD) share price is pushing higher today amid the company’s annual general meeting (AGM) address and first-quarter trading update.

At the time of writing, shares in the construction supplies company are being exchanged at $6.57, up 3.96%.

What’s pushing the Boral share price upwards?

Investors are buying up the Boral share price this morning as the company conducts its AGM. An AGM itself is not price-sensitive and usually has little bearing on the company’s share price. However, the market appears to be paying attention to the trading update contained in the AGM slides.

According to the release, during the first quarter of FY22 Boral experienced significant impacts from COVID-19 lockdowns. These impacts were reflected in concrete volumes declining 2% compared to the previous corresponding period. Meanwhile, where construction was halted, in New South Wales, volumes dropped by as much as 14%.

However, quarry volumes managed to perform better compared to last year. The segment witnessed a 3% incline thanks to a lift in asphalt. Although, asphalt sales were on a lower margin basis due to the completion of higher-margin project work in the prior year. Despite this, the market is showing optimism for the Boral share price today.

Overall, total revenue was down 1% in the first quarter compared to 1Q FY21, while earnings before interest and tax was down more heavily. Investors might be willing to overlook these inhibited figures for the company’s more positive future outlook.

The outlook

The Boral share price could be gaining momentum today based on its outlook for the remainder of FY22. In its AGM slides, the company said it foresees a rebound in activity as the economy exits lockdowns.

There are some lingering COVID impacts that are expected to carry forward through the year. Namely, further volume impacts are anticipated in October, with the Victorian state being the main culprit.

In saying that, Boral’s management expects the culmination impact for FY22 will not exceed $50 million.

The post Why is the Boral (ASX:BLD) share price climbing today? appeared first on The Motley Fool Australia.

Should you invest $1,000 in Boral right now?

Before you consider Boral, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Boral wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

ASX 200 (ASX:XJO) midday update: ANZ result impresses, Fortescue higher

Why has the Boral (ASX:BLD) share price jumped 5% since the start of this month?

Boral (ASX:BLD) share price lifts amid Meridian sale completion

Here’s why the Boral (ASX:BLD) share price is lifting today

Why the Boral (ASX:BLD) share price has underperformed the ASX 200 in the last 3 months

Motley Fool contributor Mitchell Lawler 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.

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!