Expeditors International of Washington Inc. Q4 Profit Declines, misses estimates

Kraft Heinz Continues To Project 2023 Organic Net Sales Growth Of 4% To 6%

The Kraft Heinz Company (KHC) reiterated its expectation to deliver 2023 organic net sales growth of 4% to 6% from 2022. Constant currency adjusted EBITDA growth from
2022 to 2023 is still expected to range between 2% to 4%, or 4% to 6% when excluding the impact from the 53rd week in 2022. Adjusted EPS is still expected to be $2.67 to $2.75. The company now expects free cash flow conversion to be approximately
80% in 2023. The company continues to anticipate high single-digit inflation for the

For long term, the company increased its gross efficiency target to $2.5 billion.

“As we play at the intersection of food and technology, we see the opportunity for $2 billion in incremental net sales from innovation in North America Retail from 2023 to 2027,” said Miguel Patricio, CEO and Board Chair.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.

Tri Pointe Homes Gains On Improved Earnings That Beat Estimates

Tri Pointe Homes, Inc. (TPH) shares are gaining more than 9 percent on Tuesday morning trade after the company reported a surge in fourth-quarter earnings supported by 25 percent increase in home sales. Earnings per share and revenues beat estimates.

Quarterly earnings were $205.39 million, up from $147.44 million in the previous year. On a per-share basis, earnings were $1.98, compared to $1.33 last year.

Wall Street analysts expected the company to earn $1.57. Analysts estimates usually exclude special items.

Revenue for the quarter increased to $1.505 billion from $1.206 billion in the previous year. Analysts expected revenue of $1.26 billion.

Looking forward to the first quarter, the company anticipates delivering between 750 and 850 homes at an average sales price between $720,000 and $730,000.

Currently, shares are at $24.34, up 9.20 percent from the previous close of $22.29 on a volume of 173,867.

Arbe Robotics Surges 50%

Shares of Arbe Robotics Ltd. (ARBE) are surging nearly 50% on Tuesday morning despite no stock-related news statement from the company.

ARBE is currently trading at $6.45, up $2.10 or 48.28%, on the Nasdaq, on a volume of nearly 15 million shares, above average volume of 57 thousand. The stock opened its trading at $3.92 after closing previous day’s trading at $4.35. The stock has traded between $2.89 and $9.03 in the past 52-week period.

Tel Aviv-Yafo, Israel-based Arbe Robotics provides 4D imaging radar solutions for tier 1 automotive suppliers and automotive manufacturers in Israel and the United States. It offers 4D imaging radar chipset solutions that address the core issues that have caused autonomous vehicle and autopilot accidents, such as detecting stationary objects, identifying vulnerable road users, and eliminating false alarms without radar ambiguities.

European Economic News Preview: UK Inflation Data Due

Consumer and producer prices from the UK are due on Wednesday, headlining a light day for the European economic news.

At 2.00 am ET, the Office for National Statistics releases UK consumer and producer prices for January. Consumer price inflation is forecast to ease to 10.3 percent from 10.5 percent in December.

Economists forecast UK output prices to grow 13.3 percent in January from the last year, slower than the 14.7 percent increase in December. Likewise, input price inflation is seen easing to 14.7 percent from 16.5 percent.

At 3.00 am ET, Spain’s INE publishes final consumer and harmonized prices for January. Inflation is forecast to rise slightly to 5.8 percent, as initially estimated, from 5.7 percent in December.

At 5.00 am ET, Eurostat publishes euro area industrial production and foreign trade figures. Industrial output is expected to fall 0.8 percent on month, reversing November’s 1.0 percent increase. The trade deficit is seen widening to EUR 12.5 billion in December from EUR 11.7 billion in November.

MSNBC Sets Debut Date For Jen Psaki’s New Show

Jen Psaki’s new show for MSNBC will debut on March 19 at noon ET and will be streamed the next day on Peacock.

The Sunday show has been in the works since Psaki joined the network last year after her stint as White House press secretary.

Psaki also will contribute a regular column for the MSNBC Daily morning newsletter. She also is developing a new original streaming and social media show, with a launch in the spring.

The executive producer of the show is Alex Lupica.

More to come.

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Expeditors International of Washington Inc. Q4 Profit Declines, misses estimates

Expeditors International of Washington Inc. (EXPD) released earnings for fourth quarter that decreased from last year and missed the Street estimates.

The company’s bottom line came in at $219.28 million, or $1.38 per share. This compares with $452.83 million, or $2.66 per share, in last year’s fourth quarter.

Analysts on average had expected the company to earn $1.96 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter fell 36.3% to $3.44 billion from $5.40 billion last year.

Expeditors International of Washington Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $219.28 Mln. vs. $452.83 Mln. last year.
-EPS (Q4): $1.38 vs. $2.66 last year.
-Analyst Estimates: $1.96
-Revenue (Q4): $3.44 Bln vs. $5.40 Bln last year.