===KinderCare Learning Companies (KLC) reported earnings on Wed 20 Nov 24 (a/h)

 

KinderCare Learning Companies beats by $0.07, beats on revs

KinderCare Learning posted higher revenue in the third quarter, boosted by higher tuition rates, in its first earnings report since its initial public offering.

The Portland, Ore.-based operator of childcare centers on Wednesday reported a profit of nearly $14 million, or 15 cents a share, compared with $16 million, or 18 cents a share, in the year-ago period.

Adjusted earnings came in at 5 cents a share.

Total revenue rose 7.5% to $671.5 million.

At its early childhood education centers, revenue rose 6.9%, of which 6% came from higher tuition rates and the rest from increased enrollment.

Revenue increased 16.8% at its before- and after-school sites, helped by new sites, offering more summer day camps and higher tuition.

Profit took a hit from lower cost reimbursement from Covid-19 related stimulus measures, as well as increased personnel costs.

Last month, KinderCare shares started trading on the New York Stock Exchange, pricing shares at $24. The stock closed Wednesday at $22.80.

===Luminar Technologies (LAZR) reported earnings on Mon 11 Nov 24 (a/h)

 

Luminar Technologies misses by $0.01, misses on revs; expects Q4 revs to grow moderately relative to Q3 

• Reports Q3 (Sep) loss of ($0.16) per share, excluding non-recurring items, $0.01 worse than the FactSet Consensus of ($0.15); revenues fell 8.6% year/year to $15.49 mln vs the $17.7 mln FactSet Consensus.
• Co's guidance:
  • Q4 revenue expected to grow moderately relative to Q3.
  • Q4 gross loss expected to improve significantly (down) sequentially.
  • Estimating ~$230-240 mln in cash by year's end (down from $240 mln).

====Applied Optoelectronics (AAOI) reported earnings on Thur 7 Nov 24 (a/h)

 

Applied Optoelectronics misses by $0.04, beats on revs; guides Q4 EPS below consensus, revs in-line 

• Reports Q3 (Sep) loss of $0.21 per share, excluding non-recurring items, $0.04 worse than the FactSet Consensus of ($0.17); revenues rose 4.2% year/year to $65.15 mln vs the $62.6 mln FactSet Consensus.
• Co issues guidance for Q4, sees EPS of ($0.04) to $0.04 vs. $0.06 FactSet Consensus; sees Q4 revs of $94 mln to $104 mln vs. $98.56 mln FactSet Consensus.

===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

===Wolfspeed (WOLF) reported earnings on Wed 6 Nov 24 (a/h)

 

 Wolfspeed beats by $0.09, misses on revs; guides Q2 EPS in-line, revs below consensus 

• Reports Q1 (Sep) loss of $0.91 per share, excluding non-recurring items, $0.09 better than the FactSet Consensus of ($1.00); revenues fell 1.4% year/year to $194.7 mln vs the $200.39 mln FactSet Consensus.
• Co issues guidance for Q2, sees EPS of ($1.14) - $0.89, excluding non-recurring items, vs. ($0.91) FactSet Consensus; sees Q2 revs of $160 - 200 mln vs. $214.69 mln FactSet Consensus.

==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%.

==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.

Ecovyst (ECVT) reported earnings on Thur 31 Oct 24 (b/o)

The company was formerly known as PQ Group Holdings Inc. and changed its name to Ecovyst Inc. in August 2021.

• Sector(s): Basic Materials
• Industry: Specialty Chemicals
• Full Time Employees: 911
• Founded in 1831 
• Headquartered in Malvern, Pennsylvania
• https://www.ecovyst.com

** charts 1 day after earnings **

-=Altria (MO) reported earnings on Thur 31 Oct 24 (b/o)

 

Altria beats by $0.03, beats on revs; reaffirms FY24 EPS guidance

• Reports Q3 (Sep) earnings of $1.38 per share, excluding non-recurring items, $0.03 better than the FactSet Consensus of $1.35; revenues rose 18.6% year/year to $6.26 bln vs the $5.33 bln FactSet Consensus.
• Co reaffirms guidance for FY24, sees EPS of $5.07-5.15, excluding non-recurring items, vs. $5.10 FactSet Consensus.
• Dividends: "In August, our Board increased our regular quarterly dividend by 4.1%, marking the 59th increase in the past 55 years. Our current annualized dividend rate is $4.08 per share. We maintain our progressive dividend goal that targets mid-single digits dividend per share growth annually through 2028. Future dividend payments remain subject to the discretion of our Board."

Root, Inc. (ROOT) reported earnings on Wed 30 Oct 24 (a/h)

 ** charts before earnings **

 

** charts after earnings **

 

 

 

 

 

 

Root, Inc. reports Q3 (Sep) results, beats on revs 

• Reports Q3 (Sep) earnings of $1.35 per share, may not be comparable to the FactSet Consensus of ($0.93); revenues rose 165.1% year/year to $305.7 mln vs the $272.77 mln FactSet Consensus.

Root, Inc. announces the successful refinancing of its term loan facility with funds and accounts managed by BlackRock Capital Investment Advisors, LLC and its affiliates

• These improved terms in the long-standing relationship enhance Root's financial flexibility and significantly improve its cost of capital.
• The amended facility consists of a six-year term loan with a principal amount of $200 mln, reducing the previous facility by $100 mln. The amended facility, effective on October 29th, will carry an interest rate of 3-month term SOFR plus 600 basis points with performance-based step-downs, reflecting a reduction of at least 300 basis points from the prior term loan. Root maintains $150 million of available capital, net of financial covenants under the amended facility, consistent with the prior facility.
• At current interest rates, the amended loan will reduce Root's interest expense by approximately 50% on a run-rate basis, further accelerating profitability and enabling increased investments in the company's strategic growth initiatives.

Day One (DAWN) reported earnings on Wed 30 Oct 24 (a/h)

** charts after earnings **

 

 

BRISBANE, Calif., Oct. 30, 2024 (GLOBE NEWSWIRE) -- Day One Biopharmaceuticals, Inc. (Nasdaq: DAWN) (“Day One” or the “Company”), a biopharmaceutical company dedicated to developing and commercializing targeted therapies for people of all ages with life-threatening diseases, today announced its third quarter 2024 financial results and highlighted recent corporate achievements.

Achieved $20.1 million in OJEMDATM (tovorafenib) net product revenue.

Ended the third quarter with $558.4 million in cash, cash equivalents and short-term investments.

Program Highlights

• Strong growth in OJEMDA net revenue with $20.1M in the third quarter of 2024, representing a 145% increase over the second quarter of 2024.
• Quarterly prescriptions (TRx) grew to 619 in the third quarter of 2024, representing a 159% increase over the second quarter of 2024.
• Day One expects to dose the first patient in the Phase 1a portion of the Phase 1a/b clinical trial of DAY301 by the end of 2024 or in the first quarter of 2025.
• Day One provided updated duration of response data from the registrational Phase 2 FIREFLY-1 trial investigating tovorafenib in patients with BRAF-altered, relapsed or progressive pLGG. For the 77 patients enrolled on Arm 1, which was the dataset used to assess OJEMDA’s efficacy, the median duration of response is 18 months.
• The pivotal Phase 3 FIREFLY-2/LOGGIC clinical trial evaluating tovorafenib as a front-line therapy in patients aged 6 months to 25 years with pLGG continues to enroll patients in the United States, Canada, Europe, Australia and Asia, with more than 100 sites activated.

Corporate Highlights and Upcoming Milestones

• Day One and Ipsen entered into an exclusive licensing agreement to commercialize tovorafenib outside of the U.S. in July 2024. Under the agreement, Day One received approximately $111 million upfront in cash and equity investment at a premium with up to approximately $350 million in additional launch and sales milestone payments as well as tiered double-digit royalties starting at mid-teens percentage on net sales.
• Day One entered into a definitive agreement for an oversubscribed private placement of its securities for total gross proceeds of approximately $175 million in July 2024.

====Lemonade (LMND) reported earnings on Wed 30 Oct 24 (a/h)

 

Lemonade beats by $0.07, beats on revs; guides Q4 revs in-line

• Reports Q3 (Sep) loss of $0.95 per share, $0.07 better than the FactSet Consensus of ($1.02); revenues rose 19.3% year/year to $136.6 mln vs the $129.1 mln FactSet Consensus.
• Co issues in-line guidance for Q4, sees Q4 revs of $144-146 mln vs. $144.67 mln FactSet Consensus.

==Global Payments (GPN) reported earnings on Wed 30 Oct 24 (b/o)

 

Global Payments misses by $0.01, misses on revs; guides FY24 EPS in-line, revs in-line; Board approves increase in share buyback program to $2.5 bln

• Reports Q3 (Sep) earnings of $3.08 per share, excluding non-recurring items, $0.01 worse than the FactSet Consensus of $3.09; revenues rose 5.6% year/year to $2.36 bln vs the $2.38 bln FactSet Consensus.
• Co issues in-line guidance for FY24, sees EPS of $11.54-11.70, excluding non-recurring items, vs. $11.60 FactSet Consensus; sees FY24 revs of $9.17-9.30 bln, excluding non-recurring items, vs. $9.23 bln FactSet Consensus.
• Global Payments' Board of Directors approved a dividend of $0.25 per share payable on December 27, 2024 to shareholders of record as of December 13, 2024.
• The Board of Directors also approved an increase in the company's share repurchase authorization capacity to $2.5 billion. Entered into $600M accelerated share repurchase program.
• Reached agreement to sell AdvancedMD for total purchase price of $1.125B.

===Garmin (GRMN) reported earnings on Wed 30 Oct 24 (b/o)

 

Garmin Smashes Third-Quarter Views

Garmin (GRMN), a maker of devices for outdoor recreation, fitness and navigation, on Wednesday handily beat analyst estimates for the third quarter and raised its outlook for the full year. Garmin stock rocketed on the news.

The Olathe, Kan.-based company earned an adjusted $1.99 a share on sales of $1.59 billion in the September quarter. Analysts polled by FactSet had expected earnings of $1.45 a share on sales of $1.44 billion. On a year-over-year basis, Garmin earnings rose 41% while sales increased 24%.

For the full year, Garmin now expects to earn an adjusted $6.85 a share on sales of $6.12 billion. Wall Street was modeling earnings of $6.10 a share on sales of $5.99 billion.

Its guidance implied fourth-quarter adjusted earnings of $1.86 a share on sales of $1.65 billion. Analysts were looking for Q4 earnings of $1.65 a share on sales of $1.63 billion.

Garmin's third-quarter results were fueled by a 31% increase in fitness device sales, which totaled nearly $464 million in the period.

-=Xerox (XRX) reported earnings on Tue 29 Oct 24 (b/o)

 

Xerox misses by $0.26, misses on revs, lowers FY24 revenue, adjusted operating margin, and free cash flow guidance

• Reports Q3 (Sep) earnings of $0.25 per share, excluding non-recurring items, $0.26 worse than the FactSet Consensus of $0.51; revenues fell 7.5% year/year to $1.53 bln vs the $1.63 bln FactSet Consensus.
• Lowers guidance, sees FY24 revenue declining around 10% in constant currency vs. prior guidance of down 5-6%; sees adjusted operating margin of around 5.0% vs. prior guidance of at least 6.5%. Free cash flow of $450-$500 mln, down from at least $550 mln.
• While equipment revenue fell short of expectations, we continue to see steady progress from Reinvention initiatives taken to date. Adjusted operating income and margin grew year-over-year, and the pending acquisition of ITsavvy will improve Xerox's value proposition with clients, as well as the mix of revenue from growing businesses," said Steve Bandrowczak, chief executive officer at Xerox.

===Centene (CNC) reported earnings on Fri 25 Oct 24 (b/o)

 

Centene beats by $0.26, beats on revs; guides FY24 EPS above consensus, revs above consensus

• Reports Q3 (Sep) earnings of $1.62 per share, $0.26 better than the FactSet Consensus of $1.36; revenues rose 10.5% year/year to $42.02 bln vs the $37.91 bln FactSet Consensus.
• Co issues upside guidance for FY24, sees EPS of greater than 6.80 vs. $6.72 FactSet Consensus; sees FY24 revs of $159.0-161.0 bln vs. $156.58 bln FactSet Consensus.

-=Western Digital (WDC) reported earnings on Thur 24 Oct 24 (a/h)

 

Western Digital beats by $0.07, reports revs in-line; guides DecQ EPS in-line, revs in-line 

• Reports Q1 (Sep) earnings of $1.78 per share, excluding non-recurring items, $0.07 better than the FactSet Consensus of $1.71; revenues rose 48.9% year/year to $4.095 bln vs the $4.12 bln FactSet Consensus.
• Co issues in-line guidance for Q2 (Dec), sees EPS of $1.75-2.05, excluding non-recurring items, vs. $1.93 FactSet Consensus; sees Q2 revs of $4.20-4.40 bln vs. $4.33 bln FactSet Consensus.

Coursera (COUR) reported earnings on Thur 24 Oct 24 (a/h)

** charts before earnings **

 

 

 

** charts after earnings **

 

Coursera beats by $0.08, beats on revs; guides Q4 revs below consensus

• Reports Q3 (Sep) earnings of $0.10 per share, excluding non-recurring items, $0.08 better than the FactSet Consensus of $0.02; revenues rose 6.4% year/year to $176.1 mln vs the $173.98 mln FactSet Consensus.
• Co issues downside guidance for Q4, sees Q4 revs of $174-$178 mln vs. $186.57 mln FactSet Consensus. Adjusted EBITDA in the range of $4.5 to $6.5 million.

Coursera announced a commitment to reduce overall expenses; to reduce global workforce by approximately 10%

• On October 24, 2024, the Company announced a commitment to reduce overall expenses, focus efforts, and prioritize future investments in key initiatives that are expected to drive long-term, sustainable growth.
• "We expect this initiative to generate at least $30 million in annualized structural cost savings, creating capacity for targeted investments, as well as incremental profitability. In connection with this effort, we plan to reduce our global workforce by approximately 10% to better align our cost structure and personnel needs with our business objectives, growth opportunities, and operational priorities."

Carrier Global (CARR) reported earnings on Thur 24 Oct 24 (b/o)

It was a noisy third quarter for Carrier as it reclassified its fire and security segment to discontinued operations. The businesses in this segment should all be sold by year-end. Adjusted for this change, organic revenue increased 4%, but adjusted operating margin slipped 40 basis points to 17.4%.

• Carrier Global (CARR) went public on April 3, 2020, when it opened at $12.98.

 

** charts after earnings **

 

 

 

• Fire & Security segment now reported as discontinued operations making prior guidance not comparable
• Net sales of $6.0 billion up 21% versus third quarter 2023; organic sales up 4%
• GAAP EPS from continuing operations of $0.62 and adjusted EPS from continuing operations of $0.77
• Total GAAP EPS of $0.49 and adjusted EPS of $0.83
• Final business exit on-track to close around year end
• Board increases remaining share repurchase authorization to $4.7 billion