Investors primed for rocky guidance as profit season nears

Creeping costs, tangled supply chains, production shutdowns and the onset of the omicron variant will scar first-half company results beginning next week, in an earnings season that sets up an uneven second-half where price-makers will be rewarded and price-takers punished.

Companies from dairy group Bega Cheese to Fortescue Metals have already foreshadowed results with warnings about rising prices that will either flow to customers or shave off profits for shareholders., in a worrying signal for the market's materials sector. Although the omicron variant has not triggered the type of shutdowns seen with the delta strain, there are signals from businesses that people have begun to restrict their own movements to avoid infection.

The e-commerce company warned about a dip in profits for the first half, partly because of the company’s robust performance early in the pandemic when it was a popular outlet for ordering fabric face masks, juicing sales. “The recent decision by WA to delay the opening of the state will make it much more difficult to transport the people you need to effectively operate some of those mines,” Mr Shevelev said.

Insurance broker AUB Group highlighted “favourable trading momentum” in the first five months of the 2022 financial year, while MA Financial, the diversified financial services company formerly known as Moelis Australia, increased its first-half earnings guidance.

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