ASX shares have been dropping earnings reports like it’s going out of fashion in week 2 of the February reporting season.
Here’s your recap of all the big movements.
Keep up to date with the February 2022 reporting season calendar.
It’s raining dividends
Australia’s largest company BHP Group Ltd (ASX: BHP) delivered a monster $2.08 dividend as commodity prices across its portfolio soared.
But BHP wasn’t the only company out with big dividends.
The Woodside Petroleum Limited (ASX: WPL) share went gangbusters after it increased its dividend by 255%.
Here are 11 ASX shares that reported big dividends this week.
Crown Resorts to go private
Crown Resorts Ltd (ASX: CWN) announced it would go private this week after private equity outfit Blackstone succeeded with an $8.9 billion offer.
It was Blackstone’s fourth attempt at Crown, after a year of courting its Board and shareholders.
Crown joins a list including former ASX shares like Sydney Airport and Ausnet, which have been gobbled up by private investors.
These recent deals showcase the inability of public markets to value quality, infrastructure-like businesses.
For example, Blackstone’s final bid was 33% above the undisturbed Crown share price.
Sydney Airport’s bid was 51% above its undisturbed share price.
If the public markets fail to recognise value, the private markets will.
Market darlings get a reality check
Arguably the most disappointing ASX shares results this week was market-darling Wesfarmers Ltd (ASX: WES).
A 14% profit fall was blamed on supply disruptions, elevated costs and pandemic-induced staff absenteeism.
Similarly, CSL Limited (ASX: CSL) earnings fell 3% as plasma collections remain below pre-pandemic levels.
While the underlying businesses remain resilient, it’s a timely reminder that even the highest quality companies go through down patches.
Down but not out
Old world energy companies have been shunned by investors in recent times due to their failure to address ESG concerns.
Some ASX shares are bowing to shareholder demands and transitioning to cleaner energies.
For example, Origin Energy Ltd (ASX: ORG) turned heads went it announced this week it would likely cease operations at Australias largest coal plant by 2025.
Others ASX shares are doubling down on operations and making a mint doing so.
Santos Ltd (ASX: STO) delivered a 48% increase in its EBITDA buoyed by its merger with Oil Search.
Meanwhile, Whitehaven Coal Ltd (ASX: WHC) eliminated all its debt, started paying a dividend and is buying back 10% of its shares.
Energy share prices might be down, but they’re certainly not out.
