Q2 2022 Earnings: Impressive performance by listed firms to drive positive vibration

The much anticipated Q2 2022 earnings of listed companies on the Nigerian Exchange hit the market on the last trading day of the month of July 2022. Being the deadline for the submission of the results, there was massive influx of results released to the market that day.

To a large extent, most of the Q2 results released performed beyond market expectation as year on year growth is recorded in some companies, while some recovered from the losses recorded the previous year. Without a doubt, these impressive result is going to drive positive vibration in the market when investors start looking in the direction of these stocks.

Except for companies that will release audited reports with interim dividends, most of the results have been released. By the third week in August, we expect the following dividend paying stocks to have released their results: Zenith Bank, GTCO, UBA, Access Bank, Fidelity Bank, Stanbic IBTC.

A number of stocks did exceptionally well in the Q2 earnings with year on year growth in their topline and bottom line figures. Within the limited space of time, let us have a look at a few of these earnings.

ECOBANK

Ecobank Transnational Incorporated reported Gross Earnings of N503.633 billion in Q2 2022, up by 14.59% from N439.491 billion reported the previous year.

Profit after tax grew year on year by 23.60% to N77.313 billion from N62.553 billion reported the previous year.

Earnings per share of the group stands at N3.14, up by 23.60% from the EPS of N2.54 achieved the previous year.

At the share price of N9.90, the P/E ratio of Ecobank stands at 3.15x with earnings yield of 31.75%

TRANSCORP

Transcorp Plc grew its turnover year on year by 18.08% to N62.889 billion from N53.260 billion reported the previous year.

Profit after tax of N12.012 was reported for the 6 months, up by 84.71% from N6.503 billion reported the previous year.

Earnings per share increased to 30 kobo from the EPS of 16 kobo achieved the previous year.

At the share price of N1.15, the P/E ratio of Transcorp stands at 3.83x with earnings yield of 26.09%.

AIICO INSURANCE

The underwriting firm reported a turnover of N45.484 billion for the six months period, up by 21.35% from N37.482 billion reported the previous year.

Profit after tax grew year on year by 51.40% to N4.924 from N3.252 billion reported the previous year.

Earnings pes share increased to 13 kobo from the EPS of 9 kobo.

At the share price of 55 kobo, the P/E ratio of AIICO Insurance stands at 4.23x with earnings yield of 23.64%.

FCMB

First City Monument Bank reported a Gross Earnings of N126.224 billion, up by 33.96% from N94.228 billion reported the previous year.

Profit after tax grew year on year by 80.8% to N13.663 from N7.557 billion reported the previous year.

Earnings per share of the Group increased to 69 kobo from the EPS of 38 kobo reported the previous year. This translates to 80.8% growth year on year.

At the share price of N3.11, the P/E ratio of FCMB stands at 4.51x with earnings yield of 22.18%.

STERLING BANK

Sterling Bank reported Gross Earnings of N78.381 billion in Q2 2022, up by 16.53% from N8.013 billion reported the previous year.

Profit after tax grew year on year by 40.80% to N8.013 billion from N5.691 billion reported the previous year.

Earnings per share of the group stands at 28 kobo, up by 40.80% from the EPS of 20 kobo achieved the previous year.

At the share price of N1.51, the P/E ratio of Sterling Bank stands at 5.39x with earnings yield of 18.54%.

NEM INSURANCE

The underwriting firm reported a turnover of N20.248 billion for the six months period, up by 25.87% from N16.087 billion reported the previous year.

Profit after tax grew year on year by 25.73% to N2.534 from N2.015 billion reported the previous year.

Earnings per share increased to 51 kobo from the EPS of 40 kobo.

At the share price of N3.4, the P/E ratio of NEM Insurance stands at 6.73x with earnings yield of 14.86%.

FIRST BANK OF NIGERIA HOLDING

First Bank of Nigeria Holdings (FBNH) achieved Gross Earnings of N395.305 billion for the 6 months period, up by 22.38% from N293.586 billion reported the previous year.

Profit after tax grew year on year by 48.60% to N56.536 from N38.045 billion reported the previous year.

Earnings per share of the Holding Company increased to N1.58 from the EPS of N1.06. This translates to 48.6% growth year on year.

At the share price of N10.95, the P/E ratio of FBNH stands at 6.93x with earnings yield of 14.23%

WEMA BANK

Wema Bank reported a Gross Earnings of N60.295 billion, up by 45.88% from N41.331 billion reported the previous year.

Profit after tax grew year on year by 42% to N5.276 from N3.715 billion reported the previous year.

Earnings per share of the Bank increased to 41 kobo from the EPS of 29 kobo reported the previous year. This translates to 42% growth year on year.

At the share price of N3.34, the P/E ratio of Wema stands at 8.15x with earnings yield of 12.28%.

FIDSON

Fidson Healthcare grew its turnover year on year by 57.62% to N20.379 billion from N12.929 billion reported the previous year.

Profit after tax of N2.703 was reported for the 6 months, up by 127.16% from N1.19 billion reported the previous year.

Earnings per share increased to N1.18 from the EPS of N0.52 achieved the previous year.

At the share price of N10.1, the P/E ratio of Fidson stands at 8.56x with earnings yield of 11.68%.

CUSTODIAN INVESTMENT

Custodian Investment Plc reported a turnover of N48.498 billion, up by 14.96% from N42.188 billion reported the previous year.

Profit after tax grew marginally by 1.92% to N4.723 from N4.633 billion reported the previous year.

Earnings per share of the Bank increased marginally to 80 kobo from the EPS of 79 kobo reported the previous year.

At the share price of N6.8, the P/E ratio of Custodian Investment stands at 8.47x with earnings yield of 11.81%.

Source: Q2 2022 Earnings: Impressive performance by listed firms to drive positive vibration – StocksWatch (stocksng.com)

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