These ASX shares punched new 52 week highs after F24 earnings

Investors are buying these shares hand over fist today.

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Earnings season is in full swing, and several ASX stocks have soared to new 52-week highs following their FY24 results.

Among them are:

Let's dive straight into what's pushed these shares to new heights.

Ansell: Forecasting growth

Ansell's shares are up around 7% to $29.29 at the time of writing following its full-year results, which showed mixed growth at the top and bottom lines. This level is the company's new 52-week high.

While the company reported a 2.4% decline in sales and a 5.2% drop in earnings before interest and tax, management's upbeat guidance for FY25 may have balanced the weaker results.

Ansell expects earnings per share (EPS) to rise to between US$1.07 and US$1.27 in the coming year, up from US$1.055 last year. The market responded positively, pushing the stock to new highs as investors likely anticipate growth.

ARB hits new 52-week high

Shares of ARB, the 4×4 parts manufacturer, are up over 6% on Tuesday and currently trade at $42.85 apiece.

ARB hit new 52-week highs of $43.35 early in the session before settling at current levels.

In FY24, the company reported a 3.3% increase in sales to $693.15 million and an 18.1% boost in profit after tax to $104.1 million.

This allowed ARB to raise its dividend by 11.3% to 69 cents per share.

The company remains optimistic, citing strong demand for its products and a "strong order book".

Nuix: Revenues drive share price

Nuix is also posting gains on Tuesday, with its share price climbing more than 9% to $4.78 apiece at the time of writing, signalling new 52-week highs.

It reported FY24 earnings last week, with revenues up 21% to $220.6 million.

Pre-tax profits were also up 38% year over year, hitting $64 million, underscored by a 14% increase in annualised contract value (ACV) to $211.5 million.

Management is targeting further ACV growth of 15% in FY25. Investors have pushed the stock to new heights at a rapid pace, with the stock up 46% in the past week.

Judo Capital: Lending growth a standout

Judo Capital shares are up almost 10% on Tuesday to $1.52 after the company posted a strong FY24 performance.

The small business lender reported a 20% increase in gross loans and advances (GLA) to $10.7 billion, driving a 2% rise in underlying profit before tax to $110 million.

Investors are likely excited about Judo's FY25 guidance, which targets 15% profit growth. Management also said lending growth was at a record for June.

Judo shares hit new 52-week highs today, and they are now up 16% in the past month.

Ingenia Communities: Strong sales boost shares

Ingenia shares are around 7% higher at the time of publication and are fetching $5.44 apiece.

The ASX 200 real estate stock reported a 20% increase in revenue to $472 million in its annual results, alongside a 17% rise in EBIT to $125.7 million.

The company settled 462 new homes during FY24 and has a development pipeline of over 5,300 sites.

Investors have piled into Ingenia shares today, and if the trend continues, the company could close at a new 52-week high today.

Ingenia shares are up 22% this year to date.

Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended ARB Corporation. The Motley Fool Australia has recommended ARB Corporation and Ansell. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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