Conagra Brands (CAG) likely to report lower sales and profit for Q3 2024
AlphaStreet
by Staff Correspondent
16h ago
Consumer staples companies are among the worst affected by inflation and macro uncertainties, and Conagra Brands, Inc. (NYSE: CAG) is no exception. After a relatively weak first half, the packaged food company is making targeted investments in the business to build momentum, taking a cue from improvements in volume trends in its domestic retail business.   Investing in CAG Shares of the Chicago-headquartered company, which owns iconic brands like Birds Eye and Healthy Choice, have been trading sideways after slipping to a two-and-half-year low in September last year. The stock experienced ..read more
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WBA Earnings: Walgreens Boots Alliance Q2 profit and sales beat estimates
AlphaStreet
by Staff Correspondent
1d ago
Walgreens Boots Alliance, Inc. (NASDAQ: WBA) on Thursday reported stronger-than-expected earnings and revenues for the second quarter of 2024. Net profit, on an adjusted basis, increased to $1.20 per share in the second quarter of 2024 from $1.16 per share in the corresponding period of last year and came in above analysts’ forecast. On an unadjusted basis, it was a net loss of $5.91 billion or $6.85 per share in Q2, compared to a profit of $703 million or $0.81 per share in the prior year period. Net sales increased 6.3% year-over-year to $37.05 billion in the February quarter. Sales also e ..read more
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GME Earnings: GameStop Q4 2023 earnings rise despite lower sales
AlphaStreet
by Staff Correspondent
2d ago
GameStop Corp. (NYSE: GME) has reported a sharp increase in earnings for the fourth quarter of 2024 when the video game company’s sales declined. The company posted net income of $63.1 million or $0.21 per share for the January quarter, compared to $48.2 million or $0.16 per share in the same period of last year. On an adjusted basis, net income was $0.22 per share. Meanwhile, fourth-quarter net sales decreased 19% to $1.79 billion from $2.23 billion in the prior-year period. Cash, cash equivalents, and marketable securities were $1.20 billion at the close of the quarter. Prior Performance ..read more
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CCL Earnings: Carnival Corp reports narrower Q1 loss; revenue climbs
AlphaStreet
by Staff Correspondent
2d ago
Carnival Corporation & plc. (NYSE: CCL) on Wednesday reported a double-digit growth in revenues for the first quarter of 2024. The cruise line operator’s net loss narrowed sharply. Revenues increased by double digits to $5.41 billion in the February quarter, reflecting strong growth in both operating segments. Occupancy increased sharply to 102%. Consequently, Q1 net loss narrowed to $214 million or $0.17 per share from $693 million or $0.55 per share in the corresponding period of 2023. The management said it expects full-year adjusted EBITDA to be around $5.63 billion. “This has been a ..read more
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Cintas (CTAS) reports higher Q3 revenues and earnings; lifts FY24 guidance
AlphaStreet
by Staff Correspondent
2d ago
Uniform rental company Cintas Corporation (NASDAQ: CTAS) reported an increase in revenues and earnings for the third quarter of 2024. Third-quarter revenue increased 10% year-over-year to $2.41 billion from $2.19 billion in the corresponding period of 2023. Organic revenue growth, adjusted for the impacts of acquisitions and foreign currency exchange rate fluctuations, was 7.7%. As a result, net income rose to $397.6 million or $3.84 per share in the February quarter from $325.8 million or $3.14 per share in the prior year period. The company also raised its revenue and earnings guidance for ..read more
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IPO Alert: What to look for when Boundless Bio goes public
AlphaStreet
by Staff Correspondent
3d ago
Boundless Bio is preparing to debut on the Nasdaq stock market this week, to become the latest addition to the list of biotech firms that have launched IPOs this year. Backed by Bayer, the company develops therapeutics for oncogene-amplified cancers. With a market cap of around $356 million, Boundless Bio is specialized in extrachromosomal DNA which causes oncogene amplification in cancer patients. The company will issue around 6.3 million shares at an offer price in the range of $15 per share to $17 per share. At the mid-point of the offer price, the company will raise up to $101 million in ..read more
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Movado (MOV) reports lower sales and profit for Q4; guides FY25
AlphaStreet
by Staff Correspondent
3d ago
Luxury watchmaker Movado Group, Inc. (NYSE: MOV) on Tuesday reported a double-digit decline in earnings for the fourth quarter of 2024. The company also issued financial guidance for fiscal 2025. Fourth-quarter net sales declined to $179.6 million from $194.3 million in the prior year quarter. Both the US and international sales declined during the period. The weak top-line performance translated into a 47% fall in adjusted earnings to $0.55 per share. On an unadjusted basis, net income was $12.1 million or $0.53 per share in Q4, compared to $22.7 million or $1.00 per share last year. Efraim ..read more
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Highlights of McCormick & Company’s (MKC) Q1 2024 earnings report
AlphaStreet
by Staff Correspondent
3d ago
McCormick & Company, Incorporated (NYSE: MKC) Tuesday reported an increase in sales and adjusted profit for the first quarter of 2024. The food company’s sales increased 3% year-over-year in the first quarter to $1.6 billion; in constant currency, sales grew 2% Operating income was $234 million in the first quarter, compared to $199 million in the year-ago period Earnings, on a per-share basis, advanced to $0.62 in the February quarter from $0.52 in the same period last year Adjusted earnings rose 7% annually to $0.63 per share in the first quarter from $0.59 per share a year earlie ..read more
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Walgreens Boots Alliance set to report earnings next week. Here’s what to expect
AlphaStreet
by Staff Correspondent
1w ago
Walgreens Boots Alliance, Inc. (NASDAQ: WBA), the drug store chain that is expanding into a diversified healthcare provider, is on a restructuring drive aimed at better aligning the business with the changing market conditions. The company will be reporting earnings for the second quarter on the morning of March 28. Stock Dips The retail pharmacy giant’s stock has been on a losing streak for quite some time – the value has more than halved since last year and WBA underperformed the market during that period. Among others, investor sentiment was hit by the board’s recent decision to slash divi ..read more
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Earnings Summary: A snapshot of FactSet’s Q2 2024 report
AlphaStreet
by Staff Correspondent
1w ago
FactSet Research Systems Inc. (NYSE: FDS), a leading provider of data analytics services, announced financial results for the second quarter of 2024, reporting higher revenues and adjusted profit. Q2 revenues increased 6% to $545.9 million from $515.1 million in the prior year period. Organic revenues grew 6.0% Annual subscription value, plus professional services, was $2.21 billion at the end of the quarter, vs. $2.1 billion last year Operating margin increased to 33.3% in the second quarter from 32.9% for the same period of 2023 Net income, on a per-share basis, increased 8% to $3.65 in th ..read more
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