Wells Fargo first-quarter earnings fell to $3.67 billion, or 88 cents a share, from $4.64 billion, or $1.02 a share, in the year-ago quarter. However, the figure was higher than the 81 cents expected by analysts. Revenue fell to $17.59 billion from $18.53 billion in the year-ago quarter, missing the expectations of $17.78 billion (according to FactSet). Average loans were $898 billion, were...
Goldman Sachs reported its first quarter earnings that beat analysts’ expectations. The banking behemoth’s earnings fell to $3.83 billion in the quarter, or $10.78 a share, from $6.71 billion, or $18.60 a share, in the year-ago quarter. However, it crushed analysts’ expectations of $8.89 a share. Revenue decreased to $12.93 billion in the quarter, from $17.7 billion in the year-ago period...
Bed Bath and Beyond reported a fourth-quarter loss, resulting in a negative surprise for analysts. The home goods retail company also mentioned challenges slowing consumer demand. The company incurred a loss of -92 cents, vs. profit of +3 cents expected by analysts polled by Refinitiv. Revenue plunged -22% from the year-ago quarter to $2.05 billion, missing expectations of $2.07 billion...
Lamb Weston Holdings, Inc. reported its fiscal third-quarter results, with earnings topping Zacks Consensus Estimate, even as revenue fell short of expectations. The food processing company’s earnings climbed +62% from the year-ago quarter to 73 cents per share came, well above the Zacks Consensus Estimate of 44 cents. The bottom line was bolstered by higher income from operations and equity...
Cazoo Group reported its fourth-quarter FY21 results, that revealed revenue growth of 227% on a year-over-year basis. Revenue came in at £245 million. Retail revenue climbed +128% Y/Y to £157 million. The number of retail vehicles sold by the European online car retailer was up 61.1% year-over-year to 8,714, and wholesale vehicles was up 505.5% year-over-year to 7,611. Cazoo's gross margin...
Levi reported its fiscal first quarter earnings that surpassed analysts’ expectations. For the three-month period ended Feb. 27, the denim jeans maker’s adjusted earnings came in at 46 cents per share, well above 42 cents expected by analysts polled by Refinitiv. Revenue of $1.59 billion also exceeded the $1.55 billion expected. On a year-over-year basis, the company’s sales rose +26% in the...
Array Technologies fourth quarter revenue exceeded analysts’ expectations. However, its earnings missed estimates. The company’s Q4 2021 revenues rose +22% from the year-ago quarter to $219.9 million, beating the consensus estimates of $213.82 million. Adjusted net loss incurred in the quarter was -$0.06, wider than the expected -$0.03. Looking ahead, Array projects 2022 revenue in the range...
Lindsay Corporation posted earnings of $1.32 a share in second-quarter fiscal 2022 (ended as of Feb 28, 2022), exceeding the Zacks Consensus Estimate of $1.31. The EPS was +22% higher from the year-ago quarter. The irrigation equipment company’s revenue surged +39% year-over-year to $200 million, beating the Zacks Consensus Estimate of $182 million. Revenues from the Irrigation business...
SPI Energy Co. said that 2021 net sales climbed +17% to $162 million. The photovoltaic solutions company said it "fortified our foundations in multiple business segments," including expanding residential solar operations and products and launching new utility and commercial-scale solar projects. According to SPI, with multiple business lines addressing multi-billiondollar opportunities within...
Sodexo posted its second quarter earnings that surpassed analysts' expectations. The food services and management company’s earnings came in at €2.27 per share, compared to analysts’ forecast of €2.21 per share (according to Investing.com). Looking ahead, the company reiterated its projections for underlying operating profit margin close to 5 percent, at constant rates for fiscal 2022. It now...
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Bank of China posted its largest profit increase in almost a decade in 2021, as lending strengthened in the second year of the pandemic and bad loan accumulation eased. Net income rose +12.3% from a year ago to 216.6 billion yuan ($34 billion) in 2021, thereby surpassing a median expectation of 209.8 billion yuan (as reported in a Bloomberg report). The year registered the fastest profit...
Concentrix Corporation’s adjusted earnings came in at $2.85 per share for the quarter ended February 2022, surpassing the Zacks Consensus Estimate of $2.70 per share. The figure was $2.29 per share a year ago. Revenues of $1.54 billion in the quarter exceeded the Zacks Consensus Estimate by 0.38%. This is also higher than the year-ago quarter’s revenue of $1.35 billion. The company beat...
Chewy Inc. reported earnings and revenue that missed analysts’ expectations. The online retailer of pet food and other pet products reported a loss per share of -$0.15 for the fourth quarter, steeper than analysts’ expectations of a loss of -$0.06 a share. Revenue of $2.39 billion came in lower than analysts’ expectation of $2.42 billion. Chewy mentioned that there were uptrends in site...
BioNTech SE reported growth in earnings and revenue for the fourth quarter, driven by the Covid-19 vaccine it produces in partnership with Pfizer Inc. The company also announced its program for repurchasing shares of up to $1.5 billion over the next two years. The company posted net profit of 3.17 billion euros ($3.51 billion) for the last quarter of the year, up from EUR3.66 million a year...
Chinese electric vehicle maker XPeng posted a fourth-quarter loss that was narrower than analysts’ expectations. XPeng incurred a loss of -$202 million in the quarter, or -22 cents on an adjusted per-share basis, compared to -33 cents a share anticipated by analysts polled by FactSet. Revenue for the quarter came in at $1.34 billion. The gross profit margin on XPeng’s vehicle business fell to...
Clothing company PVH Corp reported its fourth quarter earnings, that experienced a rebound from the year-ago quarter's losses. PVH Corp.’s fourth quarter earnings on a GAAP basis were $5.53 dollars per share for the fourth quarter compared to a loss per share of -81 cents in the year-ago quarter. On a non-GAAP basis, earnings were $2.84 per share compared to a loss per share of -38 cents in...
Verint Systems reported fourth-quarter fiscal 2022 non-GAAP earnings of 57 cents per share, which fell short of the Zacks Consensus Estimate by 1.7%. The figure is -12.3% lower from the year-ago quarter. Non-GAAP revenues rose +4.1% year over year to $236.2 million, and beat the Zacks Consensus Estimate by 1.8%. GAAP revenues of $234.2 million increased 4% year over year. On a non-GAAP basis,...
Five Below posted its 2022 guidance that was below consensus, leading to the its shares tumbling on Wednesday. For the fourth quarter, the discount retail company posted diluted earnings of $2.49 a share, compared to consensus of $2.48 a share. Revenue of $996.3 million was slightly below analysts’ forecasts of $1 billion. The company’s full-year revenue rose +45.2% to $2.85 billion. Earnings...
Paychex posted its third quarter earnings and revenue, both of which surpassed analysts' expectations. The human resource/payroll company’s earnings came in at $1.15 a share, well above the $1.05 a share expected by analysts polled by Investing.com. Revenue of $1.28 billion also beat expectations of $1.22 billion. Paychex revenues from its Management Solutions segment increased +13% from the...