FNArena’s Weekly Insights – February 26 2024
In this week’s Weekly Insights:
Week 3: Not As Good, But Not Bad
By Rudi Filapek-Vandyck, Editor
As the local corporate results season went through its third week, it became obvious the heavy skew towards positive surprises could not be maintained.
As it turned out, the busiest week of the season (involving some 40% of the ASX200 market cap) saw the number of misses and disappointments rise quite quickly, without destroying the positive sentiment that has prevaled throughout this season.
To illustrate what is happening in February, we might as well rely on the FNArena Corporate Results Monitor.
-Week One had total ‘beats’ on 52.4% with only one disappointment from REA Group ((REA)) on a strong performance with increased investments to be made.
-By the end of Week Two the Monitor had ‘beats’ on 41% -still strong by historical standards- with disappointments rising to 22%, still low by historical comparisons.
-By Friday, week three ended with ‘beats’ on 38% and ‘misses’ on 28%.
