These recent ASX IPOs have just reported for the first time. How'd they go?

Hope are these recent ASX IPOs holding up?

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As many of you might know by know, the ASX is currently in the middle of a hectic earnings season this August. And while much of the attention is fixed on the big ASX blue chip shares, it's also a good time to check in with some of the ASX's most recent IPOs (initial public offerings).

Last week, we looked at how the inaugural earnings reports of two recent ASX IPOs – Airtasker Ltd (ASX: ART) and Doctor Care Anywhere Group plc (ASX: DOC) – were received by investors. Today, we'll look at two additional ASX IPOs which have recently reported their first earnings to the markets.

Best & Less Group Holdings Ltd (ASX: BST)

Although Best & Less has been a staple retail name in Australia for decades, it has only recently made its ASX debut in its current form. Yes, Best & Less had its ASX IPO back in late July. In the month or so it has been on the ASX boards, Best & Less shares have performed exceptionally well, rising more than 17%.

This retailer reported its inaugural earnings for the 2021 financial year (FY21) just yesterday, and they make for some interesting reading. As my Fool colleague Brooke covered yesterday afternoon, Best & Less reported revenue growth of 6% over FY20 to $663.2 million. Earnings before interest, tax, depreciation, and amortisation (EBITDA) came in at $71.6 million – up 165%. While net profit after tax was $47 million, up 191%.

The Best & Less share price has responded very positively today, up a healthy 2.18% at the time of writing to $2.81 a share.

Cobram Estate Olives (ASX: CBO)

Olive oil company Cobram is another recent addition to the ASX boards. Cobram only had its ASX IPO back on 11 August. And like Best & Less, it's been going pretty well so far. Since its debut, Cobram shares have climbed a healthy 10.2%.

Cobram reported its first earnings report yesterday afternoon as well. Although total olive oil sales were flat year on year ($140 million for FY21, compared with $140.7 million for FY20), the company did generate $22.1 million in cash from operations, up from $13 million for FY20.

Cobram also reported $70.3 million in group EBITDA for FY21, which was up from $19.7 million the previous year.

Overall, the company was able to post a net profit after tax of $32.6 million, which was up substantially from FY20's net loss of $32.7 million.

The Cobram share price hasn't reacted to its earnings quite as optimistically as Best & Less though. Cobram shares are currently down 0.24% today to $2.06 a share.

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