What surprises me is that WES had already released guidance several weeks ago. We all knew that this was coming. It should've been priced in already. On 17th Jan, WES released a results update and the share price started to slide. I topped up on Jan 27th at a price of $50.60
On the 17th of Jan, the company outlined the reasons for the downgrade, but I agree with you that today was definitely overdone. The business(es) were heavily impacted through store closures for an extended period whilst still paying wages. So the company comes out and says that the NPAT fell by 14.2% but still made a net profit of over $1.2billion for the half.
Who can pick reporting season this year? Make a record profit or 'beat' expectations and the following day or even the same day, you're in the red. Report "in line" and you're in the green. What's the point of even providing any guidance related to results? Ansell, is a classic example. Report a downgrade to earnings and the SP gets slaughtered. Provide the same info on reporting day and the SP goes up!
Actually, it's really quite comical.
What surprises me is that WES had already released guidance...
-
- There are more pages in this discussion • 5 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add WES (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$70.91 |
Change
0.175(0.25%) |
Mkt cap ! $79.97B | |||
| Open | High | Low | Value | Volume |
| $70.45 | $71.00 | $69.81 | $19.29M | 273.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 110 | $70.89 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $70.92 | 7 | 1 |
View Market Depth
| Last trade - 12.24pm 07/08/2024 (20 minute delay) ? |
| WES (ASX) Chart |