As the curtains close on Wednesday, we summarise today's ASX shares reporting results. Markets reacted with mixed emotions towards the big-name reporters.
We'll quickly unpack today's results and then wrap it back up for tomorrow:
Those that delivered today
Commonwealth Bank of Australia (ASX: CBA)
Shares in Australia's largest bank increased 1.38% to $108.03. This followed the release of the bank's FY21 results and the announcements of the CEO's retirement.
The takeaway points:
- Net profit after tax up 19.7% year on year to $8,843 million
- Cash earnings up 19.8% to $8,653 million (versus analyst consensus estimate of $8,464 million)
- Loan impairment expense and provisions down 78% to $554 million
- Net interest margin down 4 basis points to 2.03%
- CET1 ratio up 150 basis points to 13.1%
- Fully franked final dividend of $2 per share declared. Full year dividend up 17% to $3.50 per share
- $6 billion off-market share buy-back, which is expected to reduce its share count by ~3.5%.
Mineral Resources Limited (ASX: MIN)
The Mineral Resources share price gave away 0.5%, putting it at $60 by the close of the ASX today. The move followed the mining major reporting its solid full-year results to the ASX.
The takeaway points:
- Underlying net profit after tax up 230% year on year to $1,103 million
- Revenue up 76% to $3,734 million
- Operating cash flow up 144% to $1,600 million
- Underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) up 148% to $1,901 million
- Profit for the year attributable to shareholders up 26.5% to $1,269.7 million
- Fully franked final dividend of 175 cents per share. Full year dividend up 175% to $2.75 per share.
Insurance Australia Group Ltd (ASX: IAG)
Lastly, shares in IAG fell 2.46% to $5.15 today. At one point, the ASX-listed insurance giant failed to win over the market with its sizeable dividend. The share price fall followed the release of the company's full-year result.
The takeaway points:
- Gross written premium (GWP) increased 3.8% to $12,135 million
- Insurance profit up 35.9% to $1,007 million
- Underlying insurance margin down 130 basis points to 14.7%
- Reported insurance margin up 340 basis points to 13.5%
- Net loss after tax of $427 million
- Cash earnings up 170% to $747 million
- Full year dividend doubled to 20 cents per share
ASX shares reporting tomorrow
Thursday is set to be a big one with numerous big-name results to be reported by ASX-listed companies. These include Telstra Corporation Ltd (ASX: TLS), AMP Ltd (ASX: AMP), AGL Energy Limited (ASX: AGL), Downer EDI Limited (ASX: DOW), Mirvac Group (ASX: MGR), Goodman Group (ASX: GMG), and QBE Insurance Group Ltd (ASX: MIN).
