2 ASX 200 shares lifting to record highs before full-year results

Wesfarmers and the Goodman Group are looking good ahead of the release of their FY21 results

| More on:
A young boy lifts a barbell over his head while standing on a couch.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Reporting season is well underway with household S&P/ASX 200 Index (ASX: XJO) shares including REA Group Limited (ASX: REA) and ResMed Inc (ASX: RMD) announcing FY21 results on Friday.

Company results can make or break the share price. However, these 2 ASX 200 shares have already run off into record territory.

ASX 200 shares trading at all-time highs

Wesfarmers Ltd (ASX: WES)

The Wesfarmers share price has rallied almost 24% year-to-date to a record close of $63.95 on Friday.

Wesfarmers is truly a diversified conglomerate. It made headlines with its interest in acquiring Australian Pharmaceutical Industries Ltd (ASX: API). Additonally, it gained ministerial approval to commence construction and project development for its Mt Holland lithium project.

ASX 200 shares in the lithium sector have been running hot in the past couple of months. Heavyweights Pilbara Minerals Ltd (ASX: PLS) and Galaxy Resources Limited (ASX: GXY) have cruised to triple-digit year-to-date returns.

With the approvals in place, this means Wesfarmers, which investors typically associate as the owner of Bunnings and Officeworks, will also emerge as a lithium hydroxide producer in the second half of 2024.

While Wesfarmers has exciting plans to diversify its business operations, investors will likely be fixated on its upcoming full-year results. Additionally, they will look at how its core retail businesses have performed over the past financial year.

Wesfarmers is expected to deliver its earnings on Friday, 27 August.

Goodman Group (ASX: GMG)

The Goodman share price has rallied strongly ever since it broke above the $20 level in early June.

Shares in the industrial real estate investment trust (REIT) have rallied 10% in the past month. They are also up 20.6% year-to-date.

In the company's third-quarter update, group CEO Greg Goodman described the company's portfolio. He said: "We have concentrated our portfolio in high barrier to entry markets where land is scarce and use is intensifying.

"With a focus on long-term customer requirements, we are developing to meet demand in these consumer markets, providing essential real estate infrastructure for our customers."

According to Goodman's website, the company is expected to report its full-year FY21 results on 12 August.

Goodman's third-quarter update reaffirmed its FY21 guidance of $1.2 billion in operating profit. This represents earnings per share growth of 12% on FY20 figures.

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. has recommended ResMed. The Motley Fool Australia owns shares of and has recommended Wesfarmers Limited. The Motley Fool Australia has recommended REA Group Limited and ResMed Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Record Highs

Concept image of a man in a suit with his chest on fire.
Record Highs

How long can the CBA share price keep this up?

Australia's biggest bank is running hot. Does it make any sense?

Read more »

Four young friends on a road trip smile and laugh as they sit on roof of their car.
ETFs

4 popular ASX tech ETFs smashing new all-time highs today

Do you own any of these lucky ETFs?

Read more »

Man raising both his arms in the air with a piggy bank on his lap, symbolising a record high.
Record Highs

The multi-billion-dollar ASX tech share hitting new highs on broker bullishness

This ASX tech share darling is up 216% in the year to date and just reset its record price.

Read more »

A cloud with a blue arrow pointing upwards through its middle symbolising a rising asx share price
Record Highs

Xero and 2 other ASX tech shares cracking all-time highs on Thursday

The price peaks follow a significant lift in the NASDAQ overnight following Republican Donald Trump's US election victory.

Read more »

a man wearing a gold shirt smiles widely as he is engulfed in a shower of gold confetti falling from the sky. representing a new gold discovery by ASX mining share OzAurum Resources
ETFs

7 hugely popular ASX ETFs smashing new record highs on Wednesday

Do you own any of these lucky ASX ETFs?

Read more »

Man smiling at a laptop because of a rising share price.
Record Highs

This ASX 200 share is breaking records amid a massive $300 million investment

This ASX 200 share made a triumphant return to trading today.

Read more »

A woman on holiday stands with her arms outstretched joyously in an aeroplane cabin.
Travel Shares

Big ASX news: Qantas share price hits record high

Qantas is defying the market to fly to new heights this Wednesday...

Read more »

Three Archer Materials scientists wearing white coats and blue gloves dance together in their lab after making a discovery
Record Highs

Superstar ASX 200 healthcare stock snags record high amid $32 million deal

The second multi-million-dollar deal in less than two weeks.

Read more »