HMC Capital shares soar on earnings per share boost

The news: HMC Capital shares surged on the ASX after the alternative asset manager said its operating earnings per share (EPS) for the 2024 financial year was tracking 21% higher than previously guided. It also announced former prime minister Julia Gillard would take on a leadership role at its energy transition fund.

The numbers: During its investor presentation at Macquarie's Australia Conference today, HMC said it expected a full-year operating EPS of 40 cents, compared to its 33 cents guide in February. It also reaffirmed its dividend per share guidance of 12 cents.

HMC shares were up 8.51% to $7.01 at 11:36am AEST. Over the past 12 months its share price has surged 65.33%.

The context: Late on Monday, the Sydney-based company announced that Gillard would chair its energy transition fund, which would seek to raise $2 billion from institutional and wholesale investors. The fund, due to launch this year, will invest in a portfolio of green energy assets including wind, solar, bio-fuels and emerging technologies.