Join our daily newsletter At The Bell to receive exclusive market insights
Let’s dive into an ASX speedrun this morning, looking at some earnings report takeaways and market reactions released on Wednesday.
Woodside (ASX:WDS)
Type of report: December quarter 2024
Revenue: Down -6% QoQ due to lower seasonal demand from Bass Strait
Production: Full-year production of 194MMboe matching top-end full-year guidance
Notes: Wheatstone asset swap with Chevron boosted position in WA’s North West Shelf; Trion project set for 2028; Scarborough project “78% complete” with first LNG cargo for 2026
Market reaction: WDS is down -2% at 10.40am Sydney time; overnight Brent Crude has slipped below US$80/bbl and revenue blow of -6% likely missed expectations
West African Resources (ASX:WAF)
Type of report: Quarterly cashflow + activities (separate)
Revenue: 47.95Koz unhedged sales “at average price of US$2,690/oz”; $76M cash flow
Production: Q4 output of 51.17Koz at AISC of US$1,216/oz; full-year guidance achieved
Notes: WAF to release Toega underground scoping study in Q2 of CY2025
Market reaction: Slight sell-off (-0.6%) to $1.63 per CBOE live pricing at 10.55am Sydney time despite gold price uptick overnight (+1.25%)
Bubs Ltd (ASX:BUB)
Type of report: Q2 FY25 quarterly
Revenue: Group gross revenue of $32.9M (net $28.7M) up 42% QoQ
EBITDA: “H1 FY25 positive of $2.9M” vs -$6.8M loss QoQ
Notes: $17.2M in cash; “Bubs continues to follow the FDA’s guidelines and make meaningful progress on its USA clinical trials”; FY25 outlook of $102M revenue reinstated with a gross margin over 40%
Market reaction: Up +17.3% as EBITDA shows return to cash positive and market cap brought just above $100M
Pentanet (ASX:5GG)
Type of report: Q2 FY25 quarterly report
Revenue: Consolidated revenue increased 7% QoQ to $11.1M
EBITDA: “Positive for H1FY25 with $1M QoQ improvement from a Q1 loss of $0.4M”
Notes: Gaming revenue growth up 31%; 5G subscribers up 17%; net operating cash flow increased to $900K.
Market reaction: Very favourable – up over +65% to 5cps; market cap $21.6M as at 11am Sydney time though relatively thin trades (turnover of $490K)
