==Novo Nordisk (NVO) reported earnings on Wed 6 Nov 24 (b/o)

 

Novo Nordisk reports nine-month results; narrows outlook

• Reports nine-month EPS of DKK16.29 vs DKK13.71 LY; revs of DKK204.7 bln vs DKK166.4 bln LY
  • Sales in North America Operations increased by 31% in Danish kroner (31% at CER). Sales growth in the US was positively impacted by gross-to-net sales adjustments related to prior years. Sales in International Operations increased by 13% in Danish kroner (15% at CER).
  • Sales within Diabetes and Obesity care increased by 25% in Danish kroner to DKK 191.8 billion (26% at CER), mainly driven by GLP-1 diabetes sales growth of 25% in Danish kroner (26% at CER) and Obesity care growing by 44% in Danish kroner to DKK 43.7 billion (44% at CER). Rare disease sales increased by 3% in both Danish kroner and at CER
• Outlook
  • For the 2024 outlook, sales growth is now expected to be 23-27% at CER, and operating profit growth is now expected to be 21-27% at CER. Growth reported in Danish kroner is now expected to be 1 percentage point lower than at CER growth for sales and 2 percentage points lower for operating profit.

Novo Nordisk (NVO) stock skidded Wednesday on mixed third-quarter results as sales of weight-loss drug Wegovy beat expectations, but Ozempic came in light.

Both drugs use the same active ingredient, semaglutide. Semaglutide mimics a hormone called GLP-1 to improve feelings of satiety and markers of blood sugar. During the September quarter, weight-loss drug Wegovy notched $2.53 billion in sales, according to FactSet. Wegovy sales rocketed more than 84% year over year, and beat forecasts for $2.31 billion.

But Ozempic, the diabetes injection, brought in just $4.36 billion, missing expectations for nearly $4.5 billion. Ozempic sales jumped 28%.

===Vital Energy (VTLE) reported earnings on Wed 6 Nov 24 (a/h)

 

Vital Energy Reports Third-Quarter 2024 Financial and Operating Results

• Raises fourth-quarter and full-year 2024 total and oil production forecasts

TULSA, OK, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Vital Energy, Inc. (NYSE: VTLE) ("Vital Energy" or the "Company") today reported third-quarter 2024 financial and operating results. Strong performance year-to-date also allowed the Company to increase its fourth-quarter and full-year 2024 production outlook. 

Highlights

• Closed the Point Energy acquisition for total cash consideration of $815 million, exclusive of transaction- related expenses and post-closing adjustments
• Reported net income of $215.3 million, Adjusted Net Income1 of $60.4 million and cash flows from operating activities of $246.2 million
• Generated Consolidated EBITDAX1 of $309.5 million and Adjusted Free Cash Flow1 of $34.0 million
• Reduced lease operating expense ("LOE") to $8.78 per BOE, below guidance of $8.95 per BOE
• Produced Company-record 133.3 thousand barrels of oil equivalent per day ("MBOE/d") and oil production of 59.2 thousand barrels of oil per day ("MBO/d")
• Reported capital investments of $241.9 million, excluding non-budgeted acquisitions and leasehold expenditures
• Increased 2025 oil hedges to approximately 16.1 million barrels at $74.79 per barrel NYMEX WTI
• Reduced methane intensity by 90% from 2019 baseline, as of YE-23

==Super Micro Computer (SMCI) reported earnings on Tue 5 Nov 24 (a/h)

 

Super Micro Computer sees Q1 EPS above consensus; Q1 revs below consensus; sees Q2 EPS and revs below consensus 

• Co issues guidance for Q1 (Sep), sees EPS of $0.75-0.76 vs. $0.73 FactSet Consensus; sees Q1 (Sep) revs of $5.9-6.0 bln vs. $6.44 bln FactSet Consensus.
• Co issues downside guidance for Q2 (Dec), sees EPS of $0.56-0.65 vs. $0.81 FactSet Consensus; sees Q2 (Dec) revs of $5.5-6.1 bln vs. $6.84 bln FactSet Consensus.
• As previously disclosed by the Company, in response to information that was brought to the attention of the Audit Committee of the Company's Board of Directors, the Board of Directors had formed an independent committee (the "Special Committee"). The Special Committee has today provided the following statement to Super Micro, but has not otherwise provided any additional details or information.
• "The Special Committee has completed its investigation based on a set of initial concerns raised by EY. Following a three-month investigation led by Independent Counsel, the Committee's investigation to date has found that the Audit Committee has acted independently and that there is no evidence of fraud or misconduct on the part of management or the Board of Directors. The Committee is recommending a series of remedial measures for the Company to strengthen its internal governance and oversight functions, and the Committee expects to deliver the full report on the completed work this week or next. The Special Committee has other work that is ongoing but expects it to be completed soon."
• Supermicro announced on September 20, 2024, that it received a notification letter from Nasdaq stating that the Company is not in compliance with Nasdaq listing rule 5250(c)(1), which requires timely filing of reports with the U.S. Securities and Exchange Commission (the "SEC"). The September 17, 2024, letter was sent as a result of the Company's delay in filing its Form 10-K. The Company filed a Form 12b-25 on August 30, 2024.
• Under the Nasdaq rules, the Company has 60 days from the date of the notice either to file the Form 10-K or to submit a plan to Nasdaq to regain compliance with Nasdaq's listing rules. If a plan is submitted and accepted, the Company could be granted up to 180 days from the Form 10-K's due date to regain compliance. If Nasdaq does not accept the Company's plan, then the Company will have the opportunity to appeal that decision to a Nasdaq hearings panel.

===BigBear.ai (BBAI) reported earnings on Tue 5 Nov 24 (a/h)

 

BigBear.ai beats by $0.02, misses on revs; reaffirms FY24 revs guidance

• Reports Q3 (Sep) loss of $0.05 per share, $0.02 better than the FactSet Consensus of ($0.07); revenues rose 22.1% year/year to $41.51 mln vs the $45.04 mln FactSet Consensus.
• Co reaffirms guidance for FY24, sees FY24 revs of $165 mln to $180 mln vs. $171.77 mln FactSet Consensus.