The stocks that are sticking with their guidance are getting investors’ attention
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While a bunch of ASX-listed companies put the brakes on their earnings expectations this week, the lucky ones were reaffirming their guidance and reeling in the investors.
Sales software stock Bigtincan (ASX:BTH) jumped over 30 per cent this morning after highlighting its large cash balance and its ability to operate remotely.
The company told shareholders last month it anticipated year-on-year growth of 30-40 per cent and this morning it reaffirmed that guidance.
“We believe we are well positioned as a diverse enterprise-focused global software business, with a strong balance sheet and a software platform which empowers mobile workers to meet the challenges before us,” CEO David Keane said.
Also witnessing a share price spike this morning, of just over 20 per cent, was Food Revolution Group (ASX:FOD), which typically sells juices but earlier this month pivoted into hand sanitisers sales.
Chairman Norman Li said the situation actually strengthened the previous promise of $40m in revenue.
Both its juices and hand sanitisers are selling well. Food Revolution made $3.8m from hand sanitisers orders in the month of March alone.
Its juices are also selling better than usual as panic buying ramps up in major supermarkets. Food Revolution also expects sales in China to ramp up now that the country is recovering from the pandemic.
The third stock that reaffirmed its guidance was enterprise asset management software provider Cosol (ASX:COS).
The company told shareholders it was performing to expectations and on track to meet its IPO revenue and profit guidance.
Although Cosol was unchanged today, it still is 40 per cent up from its listing price. This is despite only listing in January when the outbreak began.