Be a Smart Investor: January 2024

Wednesday, January 24, 2024

TSMC Q4 Profit Drops, Revenues Flat, But Stock Up In Pre-market

Taiwan Semiconductor Manufacturing Co. Ltd. or TSMC reported Thursday that its fourth-quarter profit declined from last year, while revenue was essentially flat. The earnings and top line were better than market expectations. Sequentially, profit and revenues increased from last year. Looking ahead for the first quarter, the company projects sequentially lower revenues.

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Marshalls Board Sees FY Adj. Profit Before Tax To Be In-line With Its Expectations

Marshalls plc (MSLH.L) said the Group's performance in the period since the trading update on 18 October 2023 has been as anticipated. The Board expects adjusted profit before tax for the full year to be in-line with its expectations.

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Prologis Guides FY24 EPS Well Above Estimates - Update

While reporting its financial results for the fourth quarter on Wednesday, logistics real estate firm Prologis Inc. (PLD) initiated its net earnings and core funds from operations outlook for the full-year 2024.

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Manchester United Q1 Loss Slightly Narrows; Trims FY24 Revenue Outlook

Manchester United (MANU) announced Wednesday a first-quarter net loss of 25.8 British pounds or 15.79 pence per basic share, narrower than 26.5 pounds or 16.26 pence per basic share in the prior-year quarter.

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GE Q4 Results Top Estimates; Guides Q1 Adj. EPS Below Estimates

Industrial conglomerate General Electric Co. (GE) reported Tuesday that net income attributable to common shareowners for the fourth quarter declined 24 percent to $1.59 billion or $1.45 per share from $2.10 billion or $1.90 per share in the prior-year quarter.

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Ericsson Q4 Net Income Declines; Sales Down 17% Organically

Ericsson (ERIC) reported that its fourth quarter net income to owners of the parent company declined to 3.39 billion Swedish kronor from 6.07 billion Swedish kronor, prior year. Earnings per share was 1.02 kronor compared to 1.82 kronor. EBIT excluding restructuring charges amounted to 7.4 billion Swedish kronor compared to 8.1 billion Swedish kronor, last year.

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B. Riley Financial Says Unaware Of SEC Probe As Stock Dips On Bloomberg Report

Shares of B. Riley Financial, Inc. (RILY) were losing more than 14 percent in the pre-market activity on Nasdaq following a Bloomberg News article about a possible SEC investigation.

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Bank Of Hawaii Q4 Profit Halves, Misses Estimates

Bank of Hawaii Corp. (BOH) reported Monday that net income available to common shareholders for the fourth quarter decreased to $28.43 million or $0.72 per share from $59.34 million or $1.50 per share in the prior-year quarter.

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Spirit Airlines Preliminary Q4 Revenue At High End Of Initial Guidance; Stock Surges

Spirit Airlines, Inc. (SAVE) said its fourth quarter total revenue is expected to be at the high end of the company's initial guidance, as bookings for the peak travel period over Christmas and New Years were strong. Fourth quarter total revenues are projected to be $1.32 billion. Adjusted operating margin guidance for the fourth quarter is positively revised 450 basis points from negative 15 to 19 percent to negative 12 to 13 percent. Operating expenses are estimated to come in better than expected, the company noted.

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Ally Financial Q4 Core Profit Declines; Synchrony To Acquire Ally's Point Of Sale Financing Business

Ally Financial Inc. (ALLY) reported that it fourth quarter net income to shareholders declined to $49 million from $251 million, prior year. Earnings per share was $0.16 compared to $0.83. Core net income to shareholders declined to $137 million from $327 million, last year. Core net income per share was $0.45 compared to $1.08. On average, 20 analysts polled by Thomson Reuters expected the company to report profit per share of $0.45, for the quarter. Analysts' estimates typically exclude special items.

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State Street Q4 Profit Plunges 71%, But Results Top Estimates

State Street Corp. (STT) reported Friday that net income for the fourth quarter decreased 2 percent to $210 million from $733 million from last year, with earnings per share declining 8 percent to $0.55 from last year's $1.91.

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Huntington Bancshares Q4 Adj. EPS Meets Estimates

Huntington Bancshares, Inc. (HBAN) reported Friday that net income for the fourth quarter declined to $243 million or $0.15 per share from $402 million or $0.27 per share in the year-ago quarter.

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TSMC Q4 Profit Drops, Revenues Flat, But Stock Up In Pre-market

Marshalls Board Sees FY Adj. Profit Before Tax To Be In-line With Its Expectations

Prologis Guides FY24 EPS Well Above Estimates - Update

Manchester United Q1 Loss Slightly Narrows; Trims FY24 Revenue Outlook

Safestore Holdings FY Underlying EBITDA Rises; LFL Revenue In CER Up 1.7%

Safestore Holdings plc (SAFE.L) reported that its fiscal 2023 profit before income tax declined to 207.8 million pounds from 498.8 million pounds, last year. Earnings per share was 91.8 pence compared to 212.4 pence. Group underlying EBITDA was 142.2 million pounds, up 4.5% at CER on the prior year. Adjusted EPRA EPS was 47.9 pence compared to 47.5 pence.

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Albertsons Companies Q3 Profit Beats Estimates; Identical Sales Up 2.9%

Albertsons Companies, Inc. (ACI) reported third quarter net income of $361.4 million, or $0.62 per share, compared to $375.5 million, or $0.20 per share, a year ago. Adjusted net income was $462.3 million, or $0.79 per share, compared to $505.1 million, or $0.87 per share, prior year. On average, 15 analysts polled by Thomson Reuters expected the company to report profit share of $0.66, for the quarter. Analysts' estimates typically exclude special items.

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FB Financial Q4 Net Income Declines - Quick Facts

FB Financial Corporation (FBK), parent company of FirstBank, reported fourth quarter net income of $29.4 million, or $0.63 per share, compared to $38.1 million or $0.81 per share, last year. Adjusted net income was $36.2 million, or $0.77 per share, compared to $40.2 million or $0.85 per share. On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $0.70, for the quarter. Analysts' estimates typically exclude special items.

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Spirent Communications To Deliver FY Adj. Operating Profit In Line With Market View

Spirent Communications plc (SPT.L, SPM) stated that its full year results were in line with the Board's revised expectations. The Group anticipates an adjusted operating profit in line with the market consensus. Full year revenue closed at $474 million compared to $607 million, prior year.

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Ashmore Group Issues AuM Update - Quick Facts

Ashmore Group plc said its assets under management increased by $2.3 billion over the the quarter ended 31 December 2023, comprising positive investment performance of $3.9 billion and net outflows of $1.6 billion. Estimated assets under management as at 31 December 2023 is $54.0 billion.

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Akoya Biosciences Issues Preliminary Revenue Results; Issues 2024 Guidance

Akoya Biosciences, Inc. (AKYA) said it expects fourth quarter revenue to be between $25.5 million and $26.5 million, as compared to $21.2 million a year ago. For fiscal 2023, the company expects revenue to be between $95.6 million and $96.6 million, as compared to $74.9 million, last year. Year end 2023 projected cash, cash equivalents, and restricted cash balance is between $83.0 million and $85.0 million.

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Citigroup Slips To Loss In Q4, But Adj. EPS Tops Estimates

Citigroup Inc. (C) reported Friday a net loss to common shareholders of $2.14 billion or $1.16 per share for the fourth quarter, compared to net income of $2.18 billion or $1.16 per share in the prior-year quarter.

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JPMorgan Q4 Profit Down 15%, But Results Top Estimates

US investment bank JPMorgan Chase reported Friday a profit for the fourth quarter that decreased 15 percent from last year, reflecting double-digit net interest income growth, boosted by higher interest rates. Both adjusted earnings per share and revenues for the quarter topped analysts' expectations.

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Bank Of America Q4 Profit Plunges, But Tops Estimates

Bank of America Corp. (BAC) reported Friday that net income applicable to common shareholders for the fourth quarter plunged to $2.84 billion or $0.35 per share from $6.90 billion or $0.85 per share in the prior-year quarter. Excluding items, adjusted net income for the quarter was $0.70 per share.

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Suedzucker 9-month Operating Result Rises; Confirms FY Outlook

Suedzucker (SUEZF.PK) said, for the first nine months of fiscal 2023/24, operating result improved significantly to 860 million euros from 536 million euros, prior year. The company said a significant decline in the CropEnergies segment and a slight decline in the starch segment were offset by a significant increase in all other segments. EBITDA climbed significantly to 1.12 billion euros from 805 million euros.

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Rational AG: Preliminary FY23 Figures Exceed Forecast For Sales Revenues, Profit

Rational AG (RTLLF.PK) presented the preliminary figures for fiscal 2023. According to preliminary calculations, the Group generated sales revenues of around 293 million euros in the fourth quarter of 2023 compared to 290 million euros, prior year. For fiscal 2023, consolidated sales revenues were 1.125 billion euros, an increase of 10 percent over the previous year.

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Marks & Spencer Q3 Total Sales Up 7.2% In Constant Currency - Quick Facts

Marks & Spencer Group Plc (MAKSY.PK, MAKSF.PK, MKS.L) reported third quarter Group sales of 3.86 billion pounds, an increase of 7.2% from last year. Total UK sales were 3.57 billion pounds, an increase of 8.5%, or up 8.1% on a like-for-like basis. Food sales increased 10.5%, with LFL sales up 9.9%. Clothing & Home sales increased 4.8%, with LFL sales also up 4.8%. International sales were down 6.4%, the Group said.

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Masimo Boosts FY23 Adj. EPS Outlook

Technology company Masimo Corp. (MASI) announced Wednesday select preliminary financial results for the fourth quarter and full-year ended December 30, 2023 and provided estimates for its full-year 2024 guidance.

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Nichols Plc Sees FY23 Adj. Profit Before Tax Slightly Above Market View - Quick Facts

Nichols plc (NICL.L) said the Group has delivered a strong performance in 2023 and expects to report fiscal 2023 adjusted profit before tax slightly above current market expectations. Total group revenue during the year increased by 3.5% to 170.7 million pounds from 164.9 million pounds, prior year. The Group noted that gross margins have been largely maintained despite considerable inflationary pressures early in the year. Cash generation has remained strong throughout the year and, at the end of December 2023, cash and cash equivalents were 67.0 million pounds.

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Hunting PLC: 2023 Trading In-line With Previous Guidance; 2024 EBITDA Outlook Unchanged

Hunting PLC (HTG.L) reported that its trading in fourth quarter has remained in line with management's expectations with EBITDA anticipated to be in the range of $96 million-$100 million for the full year. Group revenue is projected to be in the range of $925 million-$930 million.

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MSC Industrial Supply Q1 Net Income Declines - Quick Facts

MSC Industrial Supply Co. (MSM) reported that its first-quarter net income to MSC declined to $69.4 million from $81.3 million, last year. EPS was $1.22 compared to $1.45. Adjusted EPS declined to $1.25 from $1.48. On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $1.31, for the quarter. Analysts' estimates typically exclude special items.

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B&M European Value Retail Q3 Revenue Up 5.0% YoY - Quick Facts

B&M European Value Retail S.A. reported that its Group revenue growth was 5.0% year-on-year to 1.64 billion pounds for the 13 week period from 24 September 2023 to 23 December 2023. Year to date growth was 8.1% to 4.19 billion pounds on a constant currency basis. In the 14 week period to 30 December 2023, B&M UK like-for-like revenue growth was 1.2%.

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Commercial Metals Q1 Profit Tops Estimates

Commercial Metals Company (CMC) reported first quarter net earnings of $176.3 million, or $1.49 per share, compared to $261.8 million, or $2.20 per share, prior year. Excluding item, adjusted earnings were $192.7 million, or $1.63 per share, compared to $266.2 million, or $2.24 per share, previous year. On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $1.45, for the quarter. Analysts' estimates typically exclude special items.

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CMC Markets Plc Revises FY24 Outlook - Quick Facts

CMC Markets Plc (CMCX.L) said the Group now expects to generate fiscal 2024 net operating income of between 290 million pounds-310 million pounds from the prior guidance range of between 250 million pounds-280 million pounds.

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Pharming Group Projects 2023 Total Revenues To Rise 19%

Pharming Group N.V. (PHAR) announced, for the full year 2023, total revenues are expected to increase by 19% to approximately $245 million. For 2023, the company expects RUCONEST revenues to increase by 10% to approximately $227 million. For the full year 2023, the company expects Joenja revenues of approximately $18 million.

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Akoya Biosciences Issues Preliminary Revenue Results; Issues 2024 Guidance

Catalyst Pharma Prices 10 Mln Share Offering At $15/shr; Shares Tank In Pre-market

Stock of Catalyst Pharmaceuticals, Inc. (CPRX) plunged in pre-market on Friday after announcement of pricing 10 million shares at $15 per share, to raise $150 million.

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Constellation Brands Backs FY24 Adj. EPS Outlook; Q3 Earnings Top Estimates

While reporting financial results for the third quarter of fiscal 2024 on Thursday, beverage alcohol company Constellation Brands, Inc. (STZ) maintains its comparable earnings guidance for the full-year 2024.

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AngioDynamics Q2 Results Miss Estimates; Boosts FY24 Adj. EPS Outlook

While reporting financial results for the second quarter on Thursday, medical devices company AngioDynamics, Inc. (ANGO) raised its adjusted earnings guidance for the full year 2024, while trimming annual net sales outlook.

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Savers Value Village Remains Comfortable With Its FY23 Adj. EBITDA Outlook

Savers Value Village, Inc. (SVV) said, on an unaudited preliminary basis, the company expects fourth quarter net sales of approximately $382.8 million, representing growth of 4.4% compared to the prior year period. Constant currency net sales are projected to increase approximately 4.5% on a year-over-year basis. Comparable store sales are projected to increase approximately 2.6%.

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Lamb Weston Boosts FY24 Earnings Outlook - Update

While reporting financial results for the second quarter on Thursday, Lamb Weston Holdings, Inc. (LW) raised its earnings and adjusted earnings guidance for the full-year 2024, while reaffirming annual net sales outlook.

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Conagra Brands Trims FY24 Outlook - Update

While reporting financial results for the second quarter on Thursday, branded food company Conagra Brands, Inc. (CAG) lowered its adjusted earnings and organic net sales growth guidance for the full-year 2024, to reflect year-to-date results, expectations for a slower volume recovery, and increased brand investments in the second half of the fiscal year.

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RPM International Q2 Adj. EPS Meets Estimates, But Sales Miss

RPM International, Inc. (RPM) reported Thursday that net income attributable to RPM for the second quarter grew to $145.51 million or $1.13 per share from $131.34 million or $1.02 per share in the prior-year quarter.

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JD Sports Fashion 22-week Constant Currency Organic Revenue Growth At 6.0%

JD Sports Fashion Plc (JD.L) said, for the 22 weeks to 30 December 2023, constant currency organic revenue growth was 6.0% with like-for-like growth of 1.8%. The Group said this was slightly behind its expectations. The gross margin rate for the period was in line with last year, and was lower than the Group's expectations due to the elevated level of promotional activity during the peak trading period.

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UniFirst Backs FY24 Outlook; Q1 Results Top Estimates

While reporting financial results for the first quarter of fiscal 2024 on Wednesday, UniFirst Corp. (UNF) maintained its earnings and revenue guidance for the full-year 2024.

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