Seek: 1H22 Earnings

Posted on | by Leon Hinde

Seek is under Algo Engine buy conditions.

The 1H22 performance looks strong, with revenue from continuing operations increasing 59% to $517m, reported profit up 152% to $126m. Total reported profit rose 32% to $88.1 million.

The company expects full-year revenue to be in the range of $1bn to $1.1bn and EBITDA to be in the range of $490m – $515m, NPAT to be in the range of $230m – $250m.

Seek – Sell Signal

Posted on | by Leon Hinde

Seek is under Algo Engine sell conditions and we remain on the short-side of the trade.

Two negatives we focus on:-

1}Surprise need to raise money in the bond market; and

2} Announcing they were dumping the final dividend in a bid to preserve capital, blaming the “uncertain environment” for the decision.

The above post was from Monday. Following today’s earnings release, Seek is down 13%. Seek has been a high conviction “short” trade expressed on our blog and in our Monday night webinar.

We suggest covering the short and taking profit.

Seek – Sell Signal

Posted on | by Leon Hinde

Seek is under Algo Engine sell conditions and we remain on the short-side of the trade.

Two negatives we focus on;

1}Surprise need to raise money in the bond market; and

2} Announcing they were dumping the final dividend in a bid to preserve capital, blaming the “uncertain environment” for the decision.