ASX This Week (W/C 18th March) – Earnings Thin On The Ground

As we get ready for a new week in the Aussie stock market, a little reflection on the last week is at least earned. With the ASX200 having seen a 2.25% drop and the XAO (All Ords) down 0.63%, we may be feeling a little bruised but it is always worth taking a longer view to gather some perspective.

Over the past 12 months the All Ords has grown a notable 11.84%, whilst the flagship 200 has added 11.19%. Whilst these numbers are down on our US counterparts, we can take some positives in comparison to the UK index (FTSE100) which has added just 5.3% over the same period.

The iron ore price drop was a significant marker on the week as it holds weight in the overall mining sector and the health of the global economy, particularly in the manufacturing and construction domains where it is a fundamental resource. The collective slump in FMG, RIO, and BHP, who command around a large portion of the ASX 200, has inexorably led to a decline in the index itself, highlighting the centrality of these entities to the Australian equities market.

In company-specific news, gambling behemoth Tabcorp took a 5.23 percent dive after its CEO stood down amidst allegations of inappropriate comments. Lithium shares like Pilbara Minerals and Liontown Resources weren’t spared from investors’ nervousness either, suffering sharp pullbacks.

ASX Earnings This Week

Looking forward to the week ahead, it is thin on the ground as far as ASX earnings but those that are reporting are certainly worth paying some attention to.

Tuesday 19th – New Hope Corporation (ASX:NHC) is the sole report.

• NHC share price YTD has lagged the index, falling 15.07% as the thermal coal miner struggles to perform in line with its’ energy sector counterparts.

Wednesday 20th – Tuas Limited (AX:TUA) and Soul Pattinson (Washington H Soul Pattinson & Company Limited (ASX:SOL)) both take to the fore.

• SOL has delivered YTD share price gains of 6.46%, and a notable 12 month uplift of 26.78%.
• TUA stumbled 2% in to the close on Friday, but the performance over the prevailing year has been nothing short of admirable. Share price growth of 6.92% will warm the heart of many to have been riding the TUA wave +174% over the past 12 months.

Thursday 21st – Premier Investments (ASX:PMV), Brickworks (ASX:BKW) and Sigma Healthcare (ASX:SIG) are the three companies ending out the week with each having put in a stellar performance in recent times if we use share price growth as the only indicator.

• PMV shares have grown 8.5% YTD and 19.94% over the prevailing 12 months reflecting index outperformance and deserving of a little focus.  The specialty fashion retailer sits just below ATH levels reached back in 2021 so it will be interesting to see the read on this one.
• BKW has delivered recently for shareholders with an 8% share price gain YTD, on top of a 12 month performance mark up 32.61% taking the firm to all time highs. With a revenue forecast of $558.3million against an EPS of -0.58AUD we eagerly await the earnings scheduled to take place after market close.
• SIG share price has swelled 97.58% over the past 12 months, with a YTD performance of 22.5% something for shareholders to enjoy.