Revenues – Open MRTD http://openmrtd.org/ Thu, 24 Nov 2022 04:12:23 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://openmrtd.org/wp-content/uploads/2022/01/icon-2022-01-31T171458.103-150x150.png Revenues – Open MRTD http://openmrtd.org/ 32 32 Tax revenue holding steady despite inflation https://openmrtd.org/tax-revenue-holding-steady-despite-inflation/ Thu, 24 Nov 2022 02:14:13 +0000 https://openmrtd.org/tax-revenue-holding-steady-despite-inflation/ Vermont Business Magazine Administrative Secretary Kristin Clouser today released Vermont’s revenue results for October 2022. The three major funds – the general fund, the transportation fund and the education fund – ended the month with revenue above target. Year-to-date, the General Fund and the Education Fund remain ahead of target while the Transportation Fund is […]]]>

Vermont Business Magazine Administrative Secretary Kristin Clouser today released Vermont’s revenue results for October 2022. The three major funds – the general fund, the transportation fund and the education fund – ended the month with revenue above target.

Year-to-date, the General Fund and the Education Fund remain ahead of target while the Transportation Fund is slightly behind.

The significant personal income tax remained at the top of the revenue results. Meanwhile, rising interest rates are starting to show their effects on other data points. The PI is a whopping 16 percent ahead of expectations.

Collections for the month of October 2022 have been compiled. Revenues from the State General Fund, Transportation Fund and Education Fund in October were combined $253.9 million, or 2.0%, above consensus monthly expectations.

For the first four months of the state’s fiscal year, the combined revenue of the three funds was 6.7% above the combined consensus target.

General Fund revenue collected in October totaled $160.8 million, or $3.4 million above the monthly consensus treasury revenue target. Year-to-date, General Fund income was $59.6 million, or 9.6%, above consensus.

The positive revenue activity during the month was primarily attributable to substantial strength in personal income taxes and, to a lesser extent, strong revenue from meals and room taxes.

Corporate income tax was actually negative for the month, largely the result of a “recovery” from September’s outsized gains. Corporate tax revenues are worth watching carefully as rising interest rates could impact retail sales and corporate profits.

Revenue from the Transportation Fund exceeded consensus monthly expectations, bringing in $27.1 million in October, or $0.6 million above the consensus estimate for the cash flow target.

Year-to-date revenue is still below consensus expectations of $2.3 million, or -2.2%. October revenue was positive in both T-Fund fuel tax sources – petrol tax and diesel tax – with revenue exceeding target, offset by a slight decline in monthly purchase and use tax, which is tied to vehicle sales.

The latest data shows that vehicle sales and leasing activity may begin to slow, just as vehicle inventories have begun to recover, primarily due to high vehicle prices and rising lease financing costs and credit sales.

Education Fund revenue last month was $1.1 million, or 1.7%, above the consensus monthly cash flow target, after raising $66.0 million in october.

For the first four months of the fiscal year, the Education Fund significantly exceeded the consensus estimate of $7.7 million, or 3.2%. Last month’s outperformance was primarily the result of positive revenues in October in two of the three commodity tax sources for this fund aggregate.

First, there was the above consensus monthly target performance by sales and use tax.

The other was the strong performance from the October Tax Revenue Education Fund for Meals and Lodging.

Revenue data for the first four months of the state’s fiscal year continues to show positive results overall.

Secretary Clouser said, “This performance appears to offer at least some reassurance that the strong first quarter revenue activity was no fluke, and the underlying revenue momentum continues. This comes even as some income-generating economic activities in sectors such as housing, financial services and technology have recently begun to weaken under the pressure of interest rate hikes.

State News

It’s time to “button up” your homes for winter and the State of Vermont and the Button Up Vermont Campaign have many resources to help. To help you prepare and get through the home heating season, you can find information, financial resources, tips and more at vermont.gov/ButtonUpVT.

Updated COVID (bivalent) boosters and flu vaccines are now available! Stay up to date on your vaccines by contacting your local pharmacy, doctor’s office, or visiting healthvermont.gov/MyVaccine for walk-in opportunities.

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Pets At Home First half profit down, revenue up; Maintains view of FY23 underlying earnings https://openmrtd.org/pets-at-home-first-half-profit-down-revenue-up-maintains-view-of-fy23-underlying-earnings/ Wed, 23 Nov 2022 07:42:00 +0000 https://openmrtd.org/pets-at-home-first-half-profit-down-revenue-up-maintains-view-of-fy23-underlying-earnings/ (RTTNews) – Pets at Home Group Plc (PETS.L, PHGPY) reported on Wednesday that its first-half pre-tax profit fell 18.7% to 53.4 million pounds from 65.7 million pounds last year. last year. Basic earnings per share were 8.7 pence, down 21.8% from 11.1 pence a year ago. The group’s underlying pre-tax profit was £59.2m, down from […]]]>

(RTTNews) – Pets at Home Group Plc (PETS.L, PHGPY) reported on Wednesday that its first-half pre-tax profit fell 18.7% to 53.4 million pounds from 65.7 million pounds last year. last year.

Basic earnings per share were 8.7 pence, down 21.8% from 11.1 pence a year ago.

The group’s underlying pre-tax profit was £59.2m, down from £65.3m last year. Underlying basic earnings per share was 9.6 pence, down from 11 pence a year ago.

Results were impacted by rising freight and energy costs and increased investment in digital assets.

Group turnover was £727.2m, 7.3% higher than the previous year’s £677.6m, with good growth in Vet Group revenue and sales by retail. Group sales on a like-for-like basis increased by 6.4%.

Client revenue rose 7% to £928.2 million.

Additionally, the company announced an interim dividend per share of 4.5 pence, an increase of 4.7% on last year.

For fiscal year 2023, Pets At Home continues to expect the Group’s underlying pre-tax profit to be in line with analyst consensus, despite the challenging macro environment.

The consensus is currently at 131 million pounds, with a range of 121 million pounds to 136 million pounds.

The business remains very cash-generating and the company said it expects to end the year with a clean cash position.

Longer term, the company’s outlook remains strong.

For more earnings news, earnings calendar and stock earnings, visit rttnews.com

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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Quadpack Industries, Sa: Quadpack 2022 First Half Results: Record Revenue Signals Strong Recovery After Pandemic Slowdown https://openmrtd.org/quadpack-industries-sa-quadpack-2022-first-half-results-record-revenue-signals-strong-recovery-after-pandemic-slowdown/ Tue, 22 Nov 2022 17:05:02 +0000 https://openmrtd.org/quadpack-industries-sa-quadpack-2022-first-half-results-record-revenue-signals-strong-recovery-after-pandemic-slowdown/ Revenue of €74 million in H1 2022, up 58% year-on-year (€46.7 million) Net profit of 1.5 million euros, demonstrating recovery from pandemic slowdown EBITDA €6.9m – 9.3% of revenue vs 7.5% in 2021 43% of turnover generated directly, for a total of €32.4 million Continued investments of 4.4 million euros in increasing production capacity Cash […]]]>
  • Revenue of €74 million in H1 2022, up 58% year-on-year (€46.7 million)
  • Net profit of 1.5 million euros, demonstrating recovery from pandemic slowdown
  • EBITDA €6.9m – 9.3% of revenue vs 7.5% in 2021
  • 43% of turnover generated directly, for a total of €32.4 million
  • Continued investments of 4.4 million euros in increasing production capacity
  • Cash of €6.5m, with an increase in net debt to €53.5m

Quadpack Industries (Euronext Growth: ALQP), a manufacturer and supplier of packaging solutions for the global beauty industry, achieved sales of €74 million in the first half of 2022, ended July 31, i.e. 58% growth. Results exceed pre-Covid activity levels, making it the best half year in company history. Profitability was maintained despite strong macro-economic pressures from the energy crisis and inflation, with the company generating an EBITDA of €6.9 million. The acquisition of decoration specialist Stefan Wicklein in the second half of 2021 contributed to the manufacturing division’s revenue increase of 7.9%.

Quadpack’s rapid growth required a significant investment in working capital to keep up with the increased volume. Financed from the company’s own cash reserves, this investment caused the company’s cash flow to decline. During the first half of 2022, the Group’s net debt increased by €5.6 million to €53.5 million. In the second half, Quadpack is focused on reducing debt and increasing liquidity with a focus on improving cash generation and controlling costs.

Financial Highlights

(in thousands of €) H1 2022 H1 2021
Net revenue 73,937 46,678
% growth 58.4% -14.5%
EBITDA 6,885 3,507
EBITDA/Revenue % 9.3% 7.5%
Operational results 2,760 (250)
Net profit 1,415 (916)
Shares 4,380,572 4,380,572
Net earnings per share (in €) 0.32 (0.21)
Net earnings per share, diluted (in €) 0.32 (0.21)
Cash flow from operating activities (1,036) 1,366
Cash flow from investing activities (4,408) (2,309)
Cash flow from financing activities (3,058) (5,873)
(In thousands of euros) 07/31/2022 01/31/2022
Equity, Group share 36,481 34,740
Borrowings and other financial liabilities 60 125 63,044
Cash and cash equivalents available 6,531 15,089
Net debt 53,594 47,955
Net debt/equity ratio (gearing ratio) 1.47 1.38

Challenges and Opportunities

The industry faced a challenging economic panorama in the first half of 2022, with rising energy prices playing a significant role in the global post-pandemic inflationary environment. The combination of high post-Covid consumption and the impact of the energy crisis due to the Ukrainian conflict, has seen demand increase along with costs. Efficiency measures implemented at Quadpack’s factories are offsetting cost increases, including the positive impact of the waste-fired biomass boiler at the Torelló factory in Spain. The current challenges are expected to continue until the end of the year.

Consumption growth is also an opportunity for Quadpack. In addition to cost reduction measures, the company is investing in future profitability, with a focus on its manufacturing capacity and product range. Some 6 million euros have been invested in the Kierspe plant over the last 2 years, to expand its injection and assembly capacity and to integrate decoration in-house. A state-of-the-art decoration center was inaugurated in September 2022. The investments will help the factory meet demand, which has increased by more than 40% compared to the first half of 2021. Long-term contractual agreements with key customers suggest that current volumes will be maintained for the foreseeable future.

Innovation and collaboration

Quadpack continues to innovate, with a focus on sustainability and eco-design, using more recyclable materials in its own manufacturing. Its biggest launch in 2022 was Iconic Woodacity®, a refillable lipstick with a wooden box. Product development involved a partnership with Aptar Beauty + Home, a global leader in dispensing systems, building on the companies’ respective strengths in lipstick mechanisms and wooden components, in line with one of Quadpack’s strategic pillars: collaborative innovation. The iconic Woodacity® was the highlight of Quadpack’s and Aptar’s booths at several recent trade shows, including MakeUp in Paris, PCD and Luxe Pack Monaco.

Sustainability

Beyond product development, Quadpack seeks to have a positive impact in all areas of its business. In the first half of 2022, Quadpackers planted trees in Spain and Germany with Life Terra and supported social and environmental projects around the world through the Quadpack Foundation. The company’s global sustainability efforts led to its certification as a B Corp in April. This achievement was achieved in less than a year, thanks to the involvement of staff at all levels of the company.

Preparing for B Corp certification also paved the way for a change in management. Good governance practices favoring a separation of the functions of Chairman and Chief Executive Officer, extensive research led to the appointment of industry veteran Alexandra Chauvigné as Chief Executive Officer, effective September 1, 2022. Co-founder Tim Eaves remains Chairman of the Board of Directors and assumes the newly created role of Chief Impact Officer to grow the company’s business as a B Corp.

Chauvigné commented on Quadpack’s performance in the first half: “The results are extremely positive and show that the business is back on track. The current climate requires us to prepare for the challenges ahead and build profitable growth. It’s an exciting time to join the company and it’s encouraging to see the involvement of the entire workforce. A good culture is fundamental to business resilience and Quadpack is built on the passion and commitment of the entire Quadpack family.

The estimated turnover for 2022 is 140 million euros, with continued momentum in 2023.

-ENDS-

To view the full report, visit: www.quadpack.com/investors/investor-information/

Contact Details

Email: investorrelations@quadpack.com

More information

www.quadpack.com



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© 2022 NewsNews

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DATAGROUP with record turnover and profit – Guidance exceeded again https://openmrtd.org/datagroup-with-record-turnover-and-profit-guidance-exceeded-again/ Tue, 22 Nov 2022 07:14:23 +0000 https://openmrtd.org/datagroup-with-record-turnover-and-profit-guidance-exceeded-again/ EQS-News: DATAGROUP SE / Key word(s): Annual resultsDATAGROUP SE: DATAGROUP with record turnover and profit – Guidance exceeded again 22.11.2022 / 08:08 CET/ESTThe issuer is solely responsible for the content of this announcement. DATAGROUP with record turnover and profit – Guidance exceeded again Pliezhausen, November 22, 2022. DATAGROUP SE (WKN: A0JC8S) today publishes its preliminary […]]]>

EQS-News: DATAGROUP SE / Key word(s): Annual results
DATAGROUP SE: DATAGROUP with record turnover and profit – Guidance exceeded again
22.11.2022 / 08:08 CET/EST
The issuer is solely responsible for the content of this announcement.

DATAGROUP with record turnover and profit – Guidance exceeded again

Pliezhausen, November 22, 2022. DATAGROUP SE (WKN: A0JC8S) today publishes its preliminary results for the financial year 2021/2022 and once again delivers record results. Turnover increased EUR 56.7m or 12.8 % in EUR 501.4 million during the year under review (AP: EUR 444.7 million) and exceeded the guidance of EUR 480m – EUR 500m. Total revenue reached EUR 128.6 million in the fourth quarter, corresponding to an increase of 12.9 % (IS SCARED 113.9m). EBITDA increased by EUR 9.2m or 13.6 % in EUR 76.5m (AP: EUR 67.3 million) for the full year, which was also above EUR’s forecast 72m – EUR 75m.

STRONG REVENUE GROWTH

Turnover again increased significantly in the fourth quarter by 12.9% to 128.6 million euros (previous year: 113.9 million euros). Compared to the previous financial year, DATAGROUP’s turnover increased by 56.7 million euros or 12.8%, from 444.7 million euros to 501.4 million euros.

The full consolidation of URANO Informationssysteme GmbH (“URANO”) and dna Gesellschaft für IT Services GmbH (“dna”), acquired the previous year, as well as the initial consolidation of Cloudeteer and the IT group Hövermann contributed to the growth In revenue[1].

In particular, the activity of the fully integrated entities of DATAGROUP developed very positively. The demand for CORBOX IT services increased significantly compared to the 2020/2021 financial year, while the demand for consulting services, for example in the SAP environment, was equally encouraging. The first consolidation of Cloudeteer, a cloud-native start-up with expertise in all areas of public cloud and its own software solutions, and Hövermann IT Gruppe, which was acquired this year, also contributed to the evolution of results. The latter offers IT services and IT consulting for small and medium-sized companies, mainly based in North Rhine-Westphalia and Lower Saxony. As an SAP Gold certified partner, the company has exceptional expertise in SAP Business One.

The share of services in turnover remained at a very high level of 80.9% (previous year: 84.4%). New business, upsells and contract renewals reached a new all-time high; 20 new CORBOX contracts were signed during the past financial year, 20 contracts were extended, 34 existing customers extended or renewed their contracts.

VERY GOOD EVOLUTION IN RESULTS WITH SIGNIFICANT IMPROVEMENT IN THE MARGIN

During the 2021/2022 financial year, EBITDA amounted to €76.5 million compared to €67.3 million the previous year (+13.6%). Efficiency measures from previous years have now resulted in a record EBIT of EUR 41.5 million after EUR 28.7 million the previous year (+44.7%). The EBITDA margin of 15.2% was slightly above the 15.1% level of the previous year, while the EBIT margin improved significantly by +1.9% points to 8.3% after 6.4 % the previous year, bringing the medium-term ambition of 9% EBIT within reach.

The financial result includes non-recurring special effects of 2.2 million euros, which are dominated by a final allocation of the purchase price. Net income amounted to 22.0 million euros after 20.7 million euros the previous year. The restructuring measures implemented in the year just ended had particular tax implications, resulting in an increase in the tax rate from 22.4% in the previous year to 40.0 % during the period under review. We assume that the tax rate will be significantly lower in the coming years.

“Despite another difficult macro-economic year, characterized by the war in Ukraine and the resulting rise in energy prices, DATAGROUP achieved another record year. This once again proves the durability of the CORBOX Service as a Product approach. We generate recurring revenue and good margins with this standardized service portfolio, which we are continuously developing and focusing on the needs of German companies in the Mittelstand,” says Andreas Baresel, CEO of DATAGROUP. “The increased productivity of our central supply units leads to a significant improvement in the operating EBIT margin and helps us to meet the challenges of the current economic environment”, continues Andreas Baresel.

THE CHANGE IN THE BALANCE SHEET REFLECTS THE SOLIDITY OF THE GROUP’S FINANCING

Certain previous year balance sheet items were adjusted due to the final purchase price allocation of a company acquired the previous year. Compared to the restated figure for the previous year of 463.0 million euros, the balance sheet total increased to 483.6 million euros in the financial year 2021/2022. The increase in the balance sheet total is mainly due to the initial consolidation of the newly acquired companies during the financial year just ended.

The equity ratio improved significantly, from 20.3% the previous year to 26.4%. This positive evolution is mainly explained by the good results as such and the revaluation of provisions for pensions, which are accounted for directly in shareholders’ equity. Based on investments of approximately €35.9 million in the above transactions, net debt decreased from €116.6 million to €109.3 million. Amounts due to banks remained unchanged at EUR 78.2 million. Cash and cash equivalents amounted to €47.0 million compared to €44.1 million at the balance sheet date of the previous year. “The Group’s financing is guaranteed for the long term and provides sufficient headroom for new investments in acquisitions,” comments Oliver Thome, CFO, on the solid development of the balance sheet. “Our long-term financing with loans in the form of promissory notes with a total volume of 69 million euros and maturities of up to seven years guarantees us a low interest rate”, continues Oliver Thome.

For the year ended September 30, 2022, management intends to propose to the Annual General Meeting a dividend in line with the historical dividend policy with a payout ratio of approximately 40% of net profit. The annual general meeting for the 2021/2022 financial year is scheduled for March 9, 2023.

OPERATING CASH FLOW INCREASES TO AN ALL-TIME HIGH

The evolution of operating cash flow is particularly satisfactory. This increased by EUR 20.3 million or 40.5% from EUR 50.0 million to EUR 70.3 million, mainly due to the substantial increase in the operating result . At the same time, CAPEX decreased compared to the previous year: investments in tangible and intangible fixed assets amounted to 8.8 million euros compared to 11.0 million euros the previous year. The investment rate rose from 2.5% of turnover the previous year to 1.8% during the financial year just ended.

About DATAGROUP

DATAGROUP is one of Germany’s leading IT services companies. Around 3,500 employees across Germany design, implement and operate IT infrastructures and business applications such as SAP. With its CORBOX product, DATAGROUP is a full-service provider, supporting global IT workstations for medium and large companies as well as public authorities. The company is growing both organically and through acquisitions. The acquisition strategy stands out in particular for its optimal integration of new companies. DATAGROUP actively participates in the consolidation process of the IT services market with its “buy and turn around” strategy and its “buy and build” strategy.

Contact for more information

DATAGROUP SE
Claudia Erning
Wilhelm-Schickard-Str. seven
72124 Pleizhausen

T +49 7127 970-015
Telephone +49 7127 970-033
claudia.erning@datagroup.de

[1] DATAGROUP acquired 24% of Cloudeteer shares in June 2020 and obtained an option on an additional 76% of the company’s shares. In October 2022, DATAGROUP increased to 51%. The company has been fully consolidated since October 1, 2021. First consolidation of Hövermann IT Group since May 01, 2022.

22.11.2022 CET/CEST Broadcast of a Corporate News, transmitted by EQS News – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

EQS distribution services include regulatory announcements, financial/corporate news and press releases.
Archives on www.eqs-news.com

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Opinion: California’s big budget surplus evaporates as tax revenues dwindle https://openmrtd.org/opinion-californias-big-budget-surplus-evaporates-as-tax-revenues-dwindle/ Mon, 21 Nov 2022 17:00:00 +0000 https://openmrtd.org/opinion-californias-big-budget-surplus-evaporates-as-tax-revenues-dwindle/ Flags on the California Capitol in Sacramento. Courtesy of the office of Senator Toni Atkins Six months ago, while proposing a revised state budget, Governor Gavin Newsom bragged that the state had a $97.5 billion surplus that would fund historic expansions of social services and educational. “No other state in American history has ever had […]]]>
Flags on the State Capitol
Flags on the California Capitol in Sacramento. Courtesy of the office of Senator Toni Atkins

Six months ago, while proposing a revised state budget, Governor Gavin Newsom bragged that the state had a $97.5 billion surplus that would fund historic expansions of social services and educational.

“No other state in American history has ever had such a large surplus,” Newsom told reporters as he unveiled a budget for fiscal year 2022-23 that topped $300 billion and, with some adjustments, was eagerly adopted by the Legislative Assembly.

No matter.

Last week, Legislature Budget Advisor Gabe Petek released a sobering report on state finances, saying revenue is set to fall $41 billion from what Newsom and lawmakers had planned, leaving the state with a projected deficit of $25 billion for 2023-24. budget. Also, he said, if the recession hits, as many economists predict, the gap between income and spending could be much higher.

While this is only a $25 billion problem – as large as that number may seem – it could be managed relatively easily with a few adjustments, such as limiting some of the spending contained in the current budget, Petek said.

“It’s not trivial, but it’s also manageable,” he told reporters. “We don’t see this as a budget crisis, we just think of it as a notable budget issue.”

However, he cautioned against maintaining spending and using the state’s large emergency reserves to cover the deficit, as there is a good chance that the current economic downturn, dictated by the Federal Reserve to countering high inflation, could easily turn into a recession.

“Based on historical experience, if a recession were to occur soon, revenues could be $30 billion to $50 billion below our revenue forecast in the fiscal window. As such, we suggest the Legislative Assembly to begin planning for the 2023-24 budget without using general purpose reserves,” Petek said in his report.

Newsom’s budget staff did not dispute Petek’s rather bleak budget forecast. California “is in its best position to manage a downturn, having built up strong reserves and focusing on one-time commitments,” Treasury Department spokesman HD Palmer said.

That’s right, as far as it goes. Newsom and the Legislature committed most of the supposed surplus to time-limited reserves and expenditures and, in theory, these could be canceled or reduced. A multi-billion dollar cash donation, currently being processed, is the largest example of such one-time expenditures.

However, one-time credits, while not legally required to be long-term commitments, provide hope that the state will continue to fund what it started. Recipients of these funds will therefore lobby the Legislative Assembly to honor what they see as commitments to their particular programs and projects.

Hints that the state’s roaring economy could be slowing emerged weeks after the current budget passed last June, and Newsom vetoed dozens of bills for additional off-budget spending, citing the economic uncertainty.

Since the enactment of the budget, state revenue has been well below expectations, with nearly all of the shortfall from personal income taxes, which typically account for three-quarters of state general fund revenue. .

The vast majority of these taxes come from a relatively small number of high-income taxpayers, whose incomes are intimately sensitive to fluctuations in the economy, particularly stocks and other capital investments. The stock market has been hit hard by the Federal Reserve’s sharp interest rate hikes and Silicon Valley, the source of much of the state’s taxable income, is suffering a downturn with massive worker layoffs.

Petek’s report is another reminder that the California budget depends on a very narrow and very volatile tax base and therefore it is foolish to make long-term financial commitments that assume the goose will always lay golden eggs.

CalMatters is a public interest journalism company committed to explaining how the California State Capitol works and why it matters.

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Revenue exceeds expectations, EPS is in line https://openmrtd.org/revenue-exceeds-expectations-eps-is-in-line/ Sat, 19 Nov 2022 12:31:30 +0000 https://openmrtd.org/revenue-exceeds-expectations-eps-is-in-line/ Williams-Sonoma (NYSE:WSM) Third Quarter 2023 Results Main financial results Revenue: $2.19 billion (up 7.1% compared to Q3 2022). Net profit: 251.7m USD (stable in the 3rd quarter of 2022). Profit margin: 12% (in line with 3Q 2022). EPS: 3.77 USD (compared to 3.37 USD in the 3rd quarter of 2022). earnings-and-revenue-growth All figures shown in […]]]>

Williams-Sonoma (NYSE:WSM) Third Quarter 2023 Results

Main financial results

  • Revenue: $2.19 billion (up 7.1% compared to Q3 2022).

  • Net profit: 251.7m USD (stable in the 3rd quarter of 2022).

  • Profit margin: 12% (in line with 3Q 2022).

  • EPS: 3.77 USD (compared to 3.37 USD in the 3rd quarter of 2022).

earnings-and-revenue-growth

All figures shown in the table above are for the 12 month period (TTM)

Williams-Sonoma revenue beats expectations

Revenue beat analysts’ estimates by 1.9%. Earnings per share (EPS) was largely in line with analysts’ estimates.

Going forward, revenue is expected to grow by an average of 2.7% per year over the next 3 years, compared to a growth forecast of 5.9% for the specialty retail sector in the United States.

Performance of the US specialty retail sector.

Shares of the company are down 9.6% from a week ago.

Risk analysis

You should find out about the 3 warning signs we spotted with Williams-Sonoma (including 2 that are of concern).

Feedback on this article? Concerned about content? Get in touch with us directly. You can also email the editorial team (at) Simplywallst.com.

This Simply Wall St article is general in nature. We provide commentary based on historical data and analyst forecasts only using unbiased methodology and our articles are not intended to be financial advice. It is not a recommendation to buy or sell stocks and does not take into account your objectives or financial situation. Our goal is to bring you targeted long-term analysis based on fundamental data. Note that our analysis may not take into account the latest announcements from price-sensitive companies or qualitative materials. Simply Wall St has no position in the stocks mentioned.

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Twist Bioscience’s fourth quarter revenue increases 51% https://openmrtd.org/twist-biosciences-fourth-quarter-revenue-increases-51/ Fri, 18 Nov 2022 21:45:41 +0000 https://openmrtd.org/twist-biosciences-fourth-quarter-revenue-increases-51/ Twist Bioscience reported fiscal fourth quarter revenue of $57.3 million on Friday, up 51% from $38.0 million in the fiscal fourth quarter of 2021. Among its recent commercial highlights, the company noted that it has collaborated with PacBio to develop an initial portfolio of off-the-shelf long-read gene panels, including a 50-gene pharmacogenomics panel and a […]]]>

Twist Bioscience reported fiscal fourth quarter revenue of $57.3 million on Friday, up 51% from $38.0 million in the fiscal fourth quarter of 2021.

Among its recent commercial highlights, the company noted that it has collaborated with PacBio to develop an initial portfolio of off-the-shelf long-read gene panels, including a 50-gene pharmacogenomics panel and a near of 400 complex and medically relevant genes. Genoa. The company noted that it has also partnered with Illumina to provide expanded customer access to an exome target enrichment panel designed to advance disease research.

For the three months ended Sept. 30, the company’s fourth-quarter net loss attributable to common shareholders was $51.1 million, or $0.91 per share, compared with $41.2 million, or 0. $84 per share, for the same period of fiscal 2021.

For all of fiscal 2022, the company reported revenue of $203.6 million, up 54% from $132.3 million in fiscal 2021.

At the end of the quarter, the company had cash and cash equivalents of $378.7 million and short-term investments of $126.3 million.

For the full fiscal year 2023, Twist expects revenue of between $261 million and $269 million and a net loss of approximately $260 million.

By the end of trading on the Nasdaq on Friday, shares of Twist were down more than 2% at $24.81.

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$100.7 Million in Oil Revenue: GNPC disagrees with PIAC and absolves finance minister of wrongdoing https://openmrtd.org/100-7-million-in-oil-revenue-gnpc-disagrees-with-piac-and-absolves-finance-minister-of-wrongdoing/ Thu, 17 Nov 2022 18:54:56 +0000 https://openmrtd.org/100-7-million-in-oil-revenue-gnpc-disagrees-with-piac-and-absolves-finance-minister-of-wrongdoing/ The Public Interest and Accountability Committee (PIAC) and the Ghana National Petroleum Corporation (GNPC) expressed differing views on which account the $100.7 million oil revenues should be paid into. While PIAC insists it should be paid to the Petroleum Holding Fund, GNPC says it should be paid to Jubilee Oil Holding Limited, a subsidiary of […]]]>

The Public Interest and Accountability Committee (PIAC) and the Ghana National Petroleum Corporation (GNPC) expressed differing views on which account the $100.7 million oil revenues should be paid into.

While PIAC insists it should be paid to the Petroleum Holding Fund, GNPC says it should be paid to Jubilee Oil Holding Limited, a subsidiary of the company.

Oil lifting

The amount was made from lifting 944,164 barrels of oil from Jubilee Fields and Anadarko CWTP in the first half of 2022.

Testifying yesterday before the parliament’s ad hoc committee heard on the finance minister’s no-confidence motion, PIAC deputy chairman Nasir Alfa Mohammed said the money was being paid into an offshore account instead.

“We have established that they did not pay this amount of money, which should have been part of Ghana’s oil revenues, to the Petroleum Holding Fund, and in our view this is against the law,” he said. he told the committee.

However, the GNPC said PIAC got it all wrong.

GNPC Deputy Managing Director (CEO) for Commerce, Strategy and Business Development, Joseph Dadzie, who also testified before the committee, said the money was paid to Jubilee Oil Holding Limited, who was legally empowered to receive the money.

He therefore disagreed with PIAC that the money should have gone directly to the Petroleum Holding Fund.

The two witnesses testified in response to the promoters of the motion of no confidence against Ken Ofori-Atta on the grounds of illegal payment of income into an offshore account, in flagrant violation of Article 176 of the Constitution.

regularisation account

Responding to questions from committee members, Nasir said the proceeds came from the 7% stake that GNPC acquired of the assets of Jubilee Fields and Anadarko Company for $119 million on April 1, 2021.

He said the failure to deposit the amount into the Petroleum Holding Fund violated Section 6 of the Petroleum Revenue Management Act 2011 (Act 815) and Section 7 of the Petroleum Revenue Management Act 2015. Petroleum Revenues (Amendment) (Law 893).

Both Laws 815 and 893, he explained, stipulate that revenues accruing to the state from direct or indirect state participation in petroleum operations must first be paid into the Petroleum Fund.

Loss of legitimate income

Emphasizing that the money should have been deposited in the Petroleum Holding Fund and not in another account, Mr. Nasir said: “Our consideration is that if this money does not come to the Petroleum Holding Fund, the State will be denied the legitimate oil revenues.”

“Our position, as a committee, is that the raise, whether raised by 100% of GNPC or not, should come first in the Petroleum Holding Fund from which disbursement can be made for any reason. Either,” he added.

The witness indicated that in its annual report from January to December 29021, PIAC indicated that, in line with GNPC’s strategy to increase its stake in viable oil blocks, it acquired a 7% stake from Occidental Petroleum from the Anadarko Company with respect to the deepwater assets of Tano Cape Three Points for $119 million, effective April 1, 2021.

He said the acquisition, which was to be transferred to GNPC subsidiary Explorco, resulted in a 5.95 and 6 percent stake in production from the Jubilee and TEN fields, respectively, for GNPC.

Explaining further, the witness said that 100% of the acquisition was then transferred to Jubilee Oil Holding Limited, which made its first oil extraction of 944,164 barrels of oil from the Jubilee field in the first half of 2022.

With $100.7 million coming from the sale of the crude oil, he said, the proceeds did not go to the Petroleum Holding Fund, as required by law.

“Mr. Chairman, the committee considered that, contrary to section 6(e) of Act 815, capital gains tax was not assessed and collected by the Ghana Revenue Authority when the sale of the seven percent interest by Anadarko Company in the Jubilee and TEN fields in 2021.

“We have written to both the GRA and the Ministry of Finance seeking responses to these issues, and in its written response to PIAC on this matter, the GRA referred the committee to the Ministry of Finance, indicating that the Ministry was exclusively in charge of the transaction,” Mr. Nasir said.

He said the Ministry of Finance, in turn, referred the committee to the GRA for answers.

He said that for purposes of disclosure, the GNPC referred the committee to a notice from the Ministry of the Attorney General purporting to endorse the transaction in the nature and manner in which the GNPC handled it.

“Mr. President, we are pleased to say that we have not come to this conclusion without recourse to this opinion,” he added.

Implement

During his appearance before the committee, the deputy managing director of GNPC said that it was not GNPC that created Jubilee Oil Holding Limited, but rather the Anadarko company.

He said Jubilee Oil Holding Limited was created because Anadarko decided to sell its stakes in the Ghanaian assets and entered into an agreement with Kosmos to buy it.

The government of Ghana, he said, then argued that it wanted some of that stake, and after negotiations, “we agreed on seven percent”.

With strict timelines for completing this transaction and the need for GNPC to go through the approval process, Mr. Dadzie said, Anadarko has decided to sell Jubilee Oil Holding Limited, cutting the 7% to GNPC. to acquire later.

“We have obtained the necessary approvals and were ready to buy Jubilee Oil Holding Limited, so the structure of the transaction was not a GNPC defined structure but that of the seller (Anadarko Company).

“We didn’t buy a stake; instead we bought the company that owned seven percent of Jubilee and TEN,” he said.

Acquisition

On where GNPC got the funds to buy Jubilee Oil Holding Limited, Mr Dadzie said the company wrote to the Ministry of Finance to advance it a loan for the purchase and got approval from ministers Energy and Finance.

Regarding the amount of oil transported so far by Jubilee Oil Holding Limited, he said, “We have collected a total of $153 million.”

“Jubilee Oil Holding Limited is a wholly owned subsidiary of GNPC and we believe it is a registered company under the Companies Act and of course the terms and conditions and the incorporation of Jubilee Oil Holding Limited, are governed by this Act, not the Petroleum Revenue Management Act.

“For this reason, 100% of this income cannot be paid into the Petroleum Holding Fund. Jubilee Oil Holding Limited must operate, and if at the end of the day it declares profits and the directors decide that dividends must be paid, that money goes to GNPC, who will pay it to the Petroleum Holding Fund,” Mr. Dadzie said.

The Minister of Finance was not mistaken

Responding to a question on which allegations about the Finance Minister, he said: ‘In relation to Jubilee Oil Holding Limited, the Finance Minister is not responsible for revenue.’

“Obviously, we must ultimately submit our financial statements and pay any tax on assets to the GRA. In 2021, Jubilee Oil Holding Limited paid GH¢17 million to the GRA as tax on its operations.

“So in terms of revenue, I don’t think the finance minister has direct control over revenue,” he said.

When asked if the $100m had been paid into an offshore account, Mr Dadzie replied: “Yes, it was paid into an account at the Ghana International Bank in London by the buyers of the rough.”

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Ezcorp (EZPW) Fourth-quarter earnings and revenue beat estimates https://openmrtd.org/ezcorp-ezpw-fourth-quarter-earnings-and-revenue-beat-estimates/ Wed, 16 Nov 2022 23:15:00 +0000 https://openmrtd.org/ezcorp-ezpw-fourth-quarter-earnings-and-revenue-beat-estimates/ Ezcorp (EZPW) exited with quarterly earnings of $0.15 per share, beating Zacks consensus estimate of $0.11 per share. That compares to earnings of $0.11 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents a profit surprise of 36.36%. A quarter ago, this consumer financial services company was expected […]]]>

Ezcorp (EZPW) exited with quarterly earnings of $0.15 per share, beating Zacks consensus estimate of $0.11 per share. That compares to earnings of $0.11 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents a profit surprise of 36.36%. A quarter ago, this consumer financial services company was expected to post a profit of $0.06 per share when it actually produced a profit of $0.16, offering a surprise of 166 .67%.

In the past four quarters, the company has exceeded consensus EPS estimates four times.

Ezcorp, which is part of Zacks Financial’s consumer lending business, posted revenue of $233.41 million for the quarter ended September 2022, beating Zacks’ consensus estimate of 6.18%. That compares to revenues of $192.44 million a year ago. The company has exceeded consensus revenue estimates four times in the past four quarters.

The sustainability of the immediate stock price movement based on recently released numbers and future earnings forecasts will primarily depend on management’s comments on the earnings call.

Ezcorp shares are up about 33.7% year-to-date compared to the -16.3% decline in the S&P 500.

What’s next for Ezcorp?

As Ezcorp has outperformed the market so far this year, the question on investors’ minds is: what’s next for the stock?

There are no easy answers to this key question, but one reliable metric that can help investors answer it is the company’s earnings outlook. This includes not only the current consensus earnings expectations for the upcoming quarter(s), but also how those expectations have changed recently.

Empirical research shows a strong correlation between short-term stock movements and trends in earnings estimate revisions. Investors can track these revisions on their own or rely on a proven scoring tool like Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Prior to this earnings release, the trend of estimate revisions for Ezcorp is mixed. While the magnitude and direction of estimate revisions may change following the release of the company’s earnings report, the current situation translates into a No. 3 (hold) Zacks ranking for the stock. Thus, the shares should move in line with the market in the near future. You can see the full list of today’s Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how the estimates for the next few quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.20 on $246.37 million in revenue for the upcoming quarter and $0.69 on $939.46 million in revenue for the current fiscal year.

Investors should be aware that the outlook for the sector can also have a significant impact on stock performance. In terms of Zacks industry rankings, Financial – Consumer Loans is currently in the bottom 7% of over 250 Zacks industries. Our research shows that the top 50% of industries ranked by Zacks outperform the bottom 50% by a factor of more than 2 to 1.

Another stock in Zacks Finance’s broader sector, Bank of Nova Scotia (BNS), has yet to report results for the quarter ending October 2022. Results are expected to be released on November 29.

This bank is expected to post quarterly earnings of $1.54 per share in its next report, representing a year-over-year change of -7.2%. The consensus EPS estimate for the quarter remained unchanged for the past 30 days.

Bank of Nova Scotia revenue is expected to be $6.21 billion, up 1.8% from the year-ago quarter.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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EFG Hermes E: announces a near doubling of its revenues to EGP 2.3 billion in 3Q22 https://openmrtd.org/efg-hermes-e-announces-a-near-doubling-of-its-revenues-to-egp-2-3-billion-in-3q22/ Wed, 16 Nov 2022 08:39:17 +0000 https://openmrtd.org/efg-hermes-e-announces-a-near-doubling-of-its-revenues-to-egp-2-3-billion-in-3q22/ EFG Hermes announces a near increase in revenue to EGP 2.3 billion in 3Q22 Strong results from the Investment Bank platform and NBFI, supported by the consolidation of aiBANK, fueled the Group’s exceptional revenue growth in 3Q22 Cairo, November 16, 2022 EFG Hermes, an impact-focused universal bank in Egypt and the leading investment banking franchise […]]]>

EFG Hermes announces a near increase in revenue to EGP 2.3 billion in 3Q22

Strong results from the Investment Bank platform and NBFI, supported by the consolidation of aiBANK, fueled the Group’s exceptional revenue growth in 3Q22

Cairo, November 16, 2022

EFG Hermes, an impact-focused universal bank in Egypt and the leading investment banking franchise in frontier and emerging markets (FEM), today announced its results for the third quarter of 2022. The group’s revenues increased jumped 95% year-on-year to reach EGP 2.3 billion in 3Q22, driven by strong results recorded by the Investment Bank and Non-Bank Financial Institution (NBFI) platform as well as the consolidation of aiBANK’s revenues during the the period. This translated into a Group net profit before tax of EGP 650 million, up 70% year-on-year in 3Q22 and reflecting the strong performance of each of the Group’s business lines.

EFG Hermes Holding Group CEO Karim Awad commented on the results: “Despite a challenging global economic environment fueled by growing inflationary pressures, global supply chain constraints and the recent devaluation of the Egyptian pound, the group released an impressive set of results for the period on the back of our proven business model and the diversity of our operations On the investment banking side, we continued to showcase the success of our advisory services world-class and our innovative product offerings, having executed a total of eight capital market M&A, debt and equity transactions, including two major cross-border acquisitions, in a fully-fledged financial services ecosystem. the acquisition of Fatura by Tanmeyah as well as the acquisition of Paynas by valU, the vertical is growing steadily. er the synergies of its brand universe. In terms of our commercial banking activities, the consolidation of aiBANK continued to support the Group’s performance, with the bank’s revenues increasing every quarter.”

EFG Hermes reported net operating profit increased 70% year-on-year to EGP 716 million, while Group net profit after tax and minority interests fell 5% year-on-year to EGP 337 million due to higher taxes and higher minority interests resulting from the consolidation of aiBANK.

Meanwhile, Group operating expenses jumped 108% year-on-year to EGP 1.6 billion in 3Q22, driven by aiBANK expense consolidation and higher operating expenses investment bank and NBFI platform due to rising inflationary pressures and the devaluation of the Egyptian pound during the period. .

investment bank

Turning to the performance of Investment Bank, the business saw a solid revenue increase of 60% year-on-year to EGP 1.1 billion thanks to strong performance across all verticals in 3Q22. Sell-side revenue increased 42% year-on-year to EGP 597 million, driven by growth in the Investment Banking and Brokerage divisions in 3Q22. Investment Banking revenue soared 96% year-on-year to EGP209m thanks to a pipeline of lucrative deals executed by the division, after closing eight large deals in the quarter worth EGP1.6bn usd. This includes advising on Abu Dhabi Ports Group’s first investment in Egypt in two shipping and terminal operating companies and the acquisition by Saudi Arabia’s Public Investment Fund of a minority stake in Egypt’s leading consumer electronics supplier, B.Tech, to name a few. Meanwhile, brokerage revenue grew 24% year-on-year to EGP 388 million on stronger executions in the GCC in 3Q22.

Alongside this, buy-side revenue grew 31% YoY to EGP 130m in 3Q22, driven by higher management fees that fueled a 40% YoY increase in asset management revenue. assets at EGP 97 million, as well as a 12% year-on-year increase in private income. Equity revenue at EGP 33 million in 3Q22. Meanwhile, despite lower interest income, income from holding and treasury activities more than doubled to EGP 363 million in 3Q22, driven by higher foreign exchange gains and lower unrealized losses in during the period.

NBFI platform

On the NBFI platform, the business saw a 29% year-on-year increase in revenue to EGP 664 million in 3Q22, driven by the strong performance of the Buy-Now, Pay lifestyle -Later (BNPL) of the group allowing fintech players to value as well as the leasing and factoring platform EFG Hermes Corp-Solutions. valU’s revenue grew 57% year-on-year to EGP 153 million, with the company ranking second in market share with 29.3% year-to-date 2022. At EFG Hermes Corp- Solutions, the leasing business recorded a dramatic revenue increase of 125% year-on-year to reach EGP 110 million in 3Q22, mainly due to a net securitization gain of EGP 64 million during the period. As of August 2022, EFG Hermes Corp-Solutions’ leasing business ranked third year-to-date in market share at 10.5%, while its factoring business recorded a market share of 15.7%, ranking second.

aiBANK

At aiBANK, revenue grew 3% QoQ to EGP 580m, driven by interest income growth resulting from an 11% QoQ increase in gross lending to EGP 21bn in 3Q22. aiBANK’s loan-to-deposit ratio climbed to 46% in 3Q22 from 44% in the prior quarter. Net profit after tax decreased to EGP 113 million in 3Q22 from EGP 149 million in 2Q22, mainly due to lower income from associated companies and other sources of income during the period.

Awad concluded: “Our results over the past period confirm the Group’s ability to achieve the objectives it has set for the final stretch of the year, positioning us perfectly to end 2022 on a high note. acquisition of aiBANK will propel our ambitions to become a service powerhouse in our home market, Egypt. At the same time, our NBFI platform is building what we envision to be an end-to-end financial services provider, enabling people and to businesses at every stage of their growth.Bank will leverage the exceptional track record on both the buy and sell side of the business to maintain our position as the advisory partner of choice.These three verticals anchor our ability to capitalize on attractive opportunities from all sides of the In saying this, the resilience and unwavering commitment of our talented and hardworking associates is the driving force of EFG Hermes’ growth and which will cement our position as the leading provider of cutting-edge financial services across our entire footprint.”

-Ends-

EFG Hermes Holding’s 3Q22 financial results and management commentary are available here.

About EFG Hermes Holding

With a current footprint spanning 14 countries on four continents, EFG Hermes Holding (EGX: HRHO.CA – LSE: EFGD) has grown over 38 successful years from a pure-play investment bank in the MENA region to an impact-focused universal bank in Egypt with the leading investment banking franchise in frontier and emerging markets (FEM). With our proven track record and a diverse team of talented employees, we provide a wide range of financial services, including advisory, asset management, securities brokerage, research and private equity, to the entire GEF region. In our home country, we have the fastest growing Non-Banking Financial Institutions (NBFI) platform with operations spanning Microfinance, Leasing, Factoring, Buy-Now Pay-Later (BNPL), digital payment solutions, mortgage financing and insurance.

And with its latest acquisition of a majority stake in aiBANK, the company has been able to provide commercial banking products and services.

Through its three verticals, Investment Banking, Non-Banking Financial Institutions (NBFIs) and Commercial Banking, the group is uniquely positioned to consistently bring disruptive financial products and services to market, delivering a holistic portfolio that serves its growing base of individual and business customers of all sizes.

Proudly present in: Egypt | United Arab Emirates | Saudi Arabia | Kuwait | Omani | Jordan | pakistan | United Kingdom | Kenya | United States | Bangladesh | Nigeria | Vietnam | Singapore

Learn more about us at www.efghermes.com and stay connected with us:

For more information, please contact:

The EFG Hermes Holding Public Relations Team

PublicRelations@EFG-Hermes.com

May El Gammal

Group Chief Marketing & Communications Officer of EFG Hermes Holding

melgammal@efg-hermes.com

Note on forward-looking statements

In this press release, EFG Hermes Holding may make forward-looking statements, including, for example, statements about management’s expectations, strategic objectives, growth opportunities and business prospects. These forward-looking statements are not historical facts but represent only EFG Hermes Holding’s beliefs regarding future events, many of which, by their nature, are inherently uncertain and beyond management’s control and include, among other things, volatility. financial markets; actions and initiatives taken by current and potential competitors; general economic conditions and the effect of current, pending and future laws, regulations and regulatory actions. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made.

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