How are these five ASX50 stocks performing today?

Highlights:

• The benchmark S&P/ASX 200 index registered a rise of 0.29% to 6,848.50 points at 2:58 PM AEST.
• Eight out of eleven significant sectors were in red around the same time.
• Energy was the best performing sector with a rise of 3.45%.

The Australian stock market index, S&P/ASX 200 rebounded a bit on Thursday (15 September 2022). Yesterday, it closed 2.6% lower at 6,828.60 points. At 2:58 PM AEST today, ASX 200 was up 19.90 points to 6,848.50 points. The index has been almost unchanged in the past five trading sessions, but on a year-to-date basis, it has fallen by nearly 10%.

As far as sectors are concerned, they were mixed today at 3PM AEST. More sectors were in red than in green at this time. Energy sector was the best performing one with a gain of 3.45%, and A-REIT was the worst performing sector as it reported a fall of 1.08%.

In this article, Kalkine Media has focused on the financial performance of five ASX50 stocks: Dexus, ResMed Inc, APA Group, TPG Telecom Limited, and Amcor Plc.

Dexus (ASX:DXS)

Dexus is a real estate investment trust which is currently trading with a market capitalisation of AU$8.87 billion. At 2:58 PM AEST, Dexus shares were spotted trading 1.52% up at AU$8.38 per share. Dexus shares outperformed its benchmark index, ASX 200 A-REIT which was down by 1.08% around the same time.

Almost a month back, the company shared its full-year results for FY22. In the 12 months, the group posted a 41.9% surge in its net profit after tax and a 10.1% rise in underlying funds from operations. Return on contributed equity grew 9.7%. 

Darren Steinberg, CEO, Dexus, said the group expects the new two years to be challenging because of the global energy crisis, ongoing supply chain, increasing interest rates and geopolitical risks. FY23 results are expected to be affected by rising interest rates.

Considering these risks, Dexus expects a distribution of 50.0 to 51.5 cents per security in FY23, less than 53.2 cents per security of distribution in FY22.

ResMed Inc (ASX:RMD)

Image source: © Rafaelhenriquepress  | Megapixl.com

ResMed is a medical device manufacturer and has a market cap of AU$50.95 billion. Shares of ResMed were trading 0.95% lower from its previous close at AU$34.46 apiece at 3:02 PM AEST. The shares were in line with its benchmark index, ASX 200 Health Care which was down 0.84% around thew same time.

Australian healthcare company, ResMed shared its final quarter results on 12 August 2022. During the quarter, the company delivered a 4% increase in revenue and a 6% surge in income from operations. In three months, the company witnesses the continuous adoption of 11% cloud connectable AirSense 11.

The board declared a quarterly dividend of AU$0.044 per share. The tentative payment date is 22 September 2022.

In the full year 2022, the company registered a growth of 12% in revenue and an 11% growth in income from operations. ResMed has not shared the outlook for FY23 yet.

APA Group (ASX:APA)

APA operates a natural gas infrastructure business and has a market cap of AU$12.66 billion. At 3:06 PM AEST, the shares were spotted trading 1.07% lower at AU$10.62 per share. The shares were preforming in line with its benchmark index, ASX 200 Utilities, which was down by 0.76% around the same time.

Australian energy infrastructure business, APA delivered ‘solid results’ in the FY23, said, Rob Wheals, CEO and managing director of APA. In 12 months, the company posted a 3.9% rise in underlying EBITDA and a 19.8% growth in free cash flow. However, reported NPAT during the year had dropped 13.9%. 

Despite the fall in NPAT, the company announced a full-year dividend of 53 cents per share, up by 3.9% from the previous year.

For FY23, the company expects to announce a distribution of 55 cents per share, 3.8% higher than FY22.

While sharing FY22 results, the group introduced interim climate commitments for 2023. The commitment is to reduce emissions by 30% in gas transmission, bring down emission intensity by 35% in power generation and introduce an active program to lessen emissions in electricity transmission. 

TPG Telecom Limited (ASX:TPG)

Image source: © Mohammedsoliman4| Megapixl.com

TPG offers telecommunication services and is trading with a market cap of AU$9.42 billion. TPG shares were down 1.08% to AU$5.02 apiece at 3:09 PM AEST. the shares were following its benchmark index, ASX 200 telecommunication services, which was 0.25% down around the same time.

With the ease in international travel restrictions and a decrease in Covid-19-related impact, TPG witnessed accelerating momentum during the second quarter of FY22. In the first half of 2022, the service revenue increased by 0.7% and net profit after tax surged by 114.1%. The operating expenses declined 5.8% and EBITDA fell 5.3%.

During the half, the company announced a dividend of 9 cents per share, 12.5% higher than the prior period. The dividend is fully franked, and the tentative payment date is 12 October 2022.

TPG said it is on track to deliver its merger synergies of AU$125 to AU$150 million in 2022, a year ahead of the original deadline. 

Amcor Plc (ASX:AMC)

Amcor is a packaging company which is trading on ASX with a market cap of AU$26.35 billion. At 3:11 PM AEST, Amcor shares were trading 1.19% lower from its previous close at AU$17.49 apiece. Around the same time, ASX 200 Materials was 0.23% down at 15,889.50 points.

Ron Delia, CEO, Amcor marked the FY22 as an ‘outstanding year for the company as net sales grew by 13%, adjusted earnings per share by 11%, and adjusted EBIT by 7%.in the June quarter, the organic sales surged by 6% and adjusted EBIT by 9%. 

In FY23, the company expects to deliver adjusted EPS of around 80 to 84%. The expected adjusted free cash flow is circa AU$1 to AU41.1 billion. The company is expected to allocate around AU$400 million of cash towards share repurchase.