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By Paul Krugman
Wacker Neuson Sees Higher Revenue In Q2
German construction equipment manufacturer Wacker Neuson Group (WKRCF.PK) said it expects group revenue for the second-quarter 2022 to be about 548.1 million euros compared to 494.3 million euros in the prior year. This is in line with the analyst consensus collected for the company by an external service provider.
Preliminary figures place profit before interest and tax (EBIT) below the previous year at about 48.3 million euros, but at the same time significantly above market expectations.
The company has narrowed its earnings guidance for fiscal 2022. The EBIT margin is now expected to lie between 9.0 and 10.0 percent compared to the previous guidance of 9.0 to 10.5 percent.
The latest outlook includes the possibility of a one-off contribution to earnings in the very low double-digit million euro range from the sale of assets no longer required for future operations.
Annual revenue is projected to remain unchanged in the range between 1.90 billion euros and 2.10 billion euros.
The company will publish the final results for the second quarter of 2022 on August 9, 2022.
European Economics Preview: Germany Ifo Business Confidence Data Due
Business sentiment survey data from Germany is the only major report due on Monday, headlining a light day for the European economic news.
At 1.00 am ET, Statistics Finland publishes producer prices and export price data for June.
At 3.00 am ET, gross wages from Hungary and manufacturing confidence from Turkey are due.
At 4.00 am ET, Germany Ifo business confidence survey results are due. The business sentiment index is forecast to fall to 90.2 in July from 92.3 in the previous month.
In the meantime time, the Central Statistical Office of Poland publishes unemployment data. The jobless rate is seen at 5.0 percent in June, down from 5.1 percent in May.
At 6.00 am ET, the Confederation of British Industry releases Industrial Trends survey results. The order book balance is expected to decline to +13 percent from +18 percent in June.
Stratec Sees Lower Sales In H1
Stratec expects consolidated sales to be 137.2 million euros for the first half of 2022 compared to 155.8 million euros last year. It corresponds to a year-on-year reduction in sales by 11.9% or 15.2% in constant currency basis.
The company noted that the subdued sales performance is due to the previous year’s high pandemic-related basis of comparison, particularly for the second quarter, as well as to significant delivery backlogs relating to a further intensification in the supply chain situation. Furthermore, the budgeted recognition of sales for development projects has in some cases been postponed to the third quarter of 2022.
The company confirmed its financial guidance for the 2022 financial year. On a constant-currency basis, sales are therefore still expected to match the previous year’s figure. Adjusted EBIT is still forecast without amendment at around 16.5% to 18.5%.
The company will publish its Half-Year Financial Report with the complete figures for the first half of 2022 on August 10, 2022.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
Ricardo Reports FY22 Trading In Line With Board’s View
Ricardo plc (RCDO.L), on Tuesday, reported that it has traded in line with the Board’s expectations in the year ended 30 June 2022, and delivered a full year performance with a “very good level of new orders and strong operating cash generation.”
Further, the company stated that FY 2021/22 saw high levels of growth with positive momentum, owing to a strong order intake at about £430 million, up over 20% on the prior year.
Ricardo noted that its order book was about £340 million, up over 15% on the prior year. Net debt at 30 June 2022 was £35 million, including the £5 million cost of the acquisition of Inside Infrastructure in March 2022, compared to £47 million at 30 June 2021.
At 30 June 2022, net debt was £35 million compared to £47 million at 30 June 2021 and £39 million at 31 December 2021.
Graham Ritchie, Chief Executive Officer, said, “I am delighted that, over the course of the year, we have continued to deliver in line with our expectations. We have made significant progress in FY21/22, delivering a very good financial performance with increased order intake across all our business segments and a strong operating cash conversion.”
EasyJet Plc Posts Headline EBITDAR Profit In Q3
easyJet plc (ESYJY.PK,EZJ.L) posted a Group headline loss before tax for the quarter ending 30 June 2022 of 114 million pounds, compared to a loss of 318 million pounds, a year ago. The Group noted that its loss for the quarter was due to the short-term disruption issues. Headline EBITDAR profit was 103 million pounds, for the quarter.
Total group revenue for the quarter ending 30 June 2022 increased to 1.75 billion pounds from 213 million pounds, last year. Passenger revenue increased to 1.15 billion pounds from 152 million pounds.
For the third quarter, easyJet flew 22 million passengers, more than seven times higher than last year, representing 87% of fiscal 2019 capacity. Load factor was 88%, for the quarter. easyJet operated 95% of its planned schedule in the quarter.
Johan Lundgren, easyJet Chief Executive said: “easyJet expects capacity to be approximately 90% of fourth quarter 2019 across our network of major European airports, with load factors targeted above 90%.”
easyJet stated that its fourth quarter schedule is now 71% booked, 1 percentage point ahead of this point in fiscal 2019.