WorleyParsons Limited, branded as Worley after completing the acquisition of Jacobs' Energy, Chemicals & Resources division, is an American Australian engineering company which provides project delivery and consulting services to the resources and energy sectors, and complex process industries.
WOR, a holding within the Momentum Strategy since March, reported its full-year numbers yesterday which sent the stock higher, with members now sitting on paper profits on the holding of almost 20%. Considering the strong outperformance of the stock, it’s highly likely it remains a hold within the Strategy at the next rebalance.
Not surprisingly, WOR is seeing numerous opportunities emerge following the war in Ukraine as countries such as Germany look to wean themselves off Russian energy and the outlook statement was very strong. Key details of the result are below:
- Revenue of $9.705bn, up 1.9% from the previous corresponding period (pcp)
- Earnings before interest, tax, and amortisation (EBITA) of $547m, up 18.1% from the pcp
- Net profit after tax (NPAT) of $172m, an increase of 109.8%
- The final dividend of $0.25 unfranked is unchanged
