S&P/ASX 200 Earnings Report September Edition

Key Highlights

• 133 companies in the S&P/ASX 200 have reported annual earnings thus far for FY 2013. 35% have reported earnings better than street expectations, polled by S&P Capital IQ analysts. Collectively, the S&P/ASX 200 has reported a -0.3% EPS surprise. 
• Last year, 40% of all companies in the S&P/ASX200 had beaten earnings street expectations.
• Of those companies who have announced earnings, 31% have shown double digit or better Y/Y growth.
• Companies still remaining to report with the largest expected earnings growth for FY 2013 include Bank of Queensland Ltd. (ASX:BOQ) +871.6%, Aurora Oil & Gas Ltd. (ASX:AUT) +124.9%, and Regis Resources Limited (ASX:RRL) +106.9%.
• Companies still remaining to report with the most upward revisions for FY 2013 in the past month include Oil Search Limited (ASX:OSH) 13 upward revisions, Alacer Gold Corp. (ASX:AQG) 10 upward revisions, and Bank of Queensland Ltd. (ASX:BOQ) 9 upward revisions.
• Companies still remaining to report with the largest FY 2013 EPS% change in the past month include Mineral Deposits Ltd (ASX:MDL) +273.2%, Macquarie Atlas Roads Group (ASX:MQA) +84.4%, and Aquila Resources Limited (ASX:AQA)+80.1%.
• Companies with the greatest potential upside based on S&P Capital IQ consensus target price include Discovery Metals Ltd. (ASX:DOL) +501.6%, Sundance Resources Limited (ASX:SDL) +271.8% and Linc Energy Ltd (ASX:LNC) +122.2%, (*data as of 8/30/13).
• 2 companies are expected to report annual earnings in August including:
• Nufarm Limited (ASX:NUF) with an S&P Capital IQ EPS consensus estimate of, $0.29
• Discovery Metals Ltd. (ASX:DML) with an S&P Capital IQ EPS consensus estimate of, $0.02
• On August 23rd, 2013, Crown Limited (ASX:CWN) reported annual earnings of $0.65, slightly above of the S&P Capital IQ consensus estimate of $0.62. The hotel and gaming operator grew earnings by over 16% versus last year. Better than expected cost control helped drive the beat. Revenues of $2.89 billion came up shy of consensus, but still managed to grow over 3% from a year ago. Crown Perth did particularly well with gaming revenues increasing +8% and non-gaming revenues increasing +18% for the second half of the year. The company noted that new restaurants and refurbishments have increased significant traffic to the property. Management did not provide any guidance for the upcoming fiscal year, but did mention there was softness in consumer sentiment for Melbourne. Following the earnings announcement, shares of the stock soared over 5%, reaching a 52-week high.

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