Nippon Steel Swings To Full-year Profit
Nippon Steel Corporation (NISTY.PK,NISTF.PK), a Japanese steel major, on Tuesday posted a profit for the fiscal 2021 versus loss last year, amidst a recovery from the impact of Covid-19 and a rise in sales, supported by improved demand.
For the fiscal ended on March 31, the steel-maker reported a profit of 637.321 billion yen or 657.48 yen per share, compared with a loss of 32.432 billion yen or 35.22 yen per share, reported for the previous fiscal.
Pre-tax profit was 816.583 billion yen, compared with a loss of 8.656 billion yen, reported for the year ended in March, 2021.
The Tokyo-headquartered firm’s operating earnings for the year rose to 840.901 billion yen, from 11.381 billion yen of the last financial year.
Business profit was reported at 938.130 billion yen as against 110.046 billion yen of previous year.
The Group generated its revenue for the year at 6.808 trillion yen, higher than 4.829 trillion yen, year-on-year basis.
Nippon Steel said it has decided to propose a year-end dividend of 90 yen per share at the General Meeting of Shareholders.
Looking forward, for the fiscal 2022, the steel-maker said that it targets a business profit of 600 billion yen or more excluding one-off factors.
Jimmy Kimmel Finds It ‘Impossible to Believe’ Trump Ordered Protesters Be Shot
Kimmel weighed in on a former defense secretary’s allegations about the president wanting paratroopers to fire on demonstrators outside the White House.
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By Trish Bendix
‘Painful’ – Mum on Universal Credit says ‘I get a knot in tummy when I go to Sainsbury’s’
Universal Credit: Expert discusses benefits of claiming
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The single mum who works four days a week and gets Universal Credit to top-up her income spoke about how visits to the supermarket are “painful”.
Sony Group Corp. Q4 Adj. Profit Rises
Sony Group Corp. (SON.L,SNE) reported that its fourth quarter adjusted operating income increased to 138.6 billion yen from 72.6 billion yen, prior year. Adjusted net income to shareholders was up 81% to 78.6 billion yen.
Fourth quarter net income to shareholders was 111.1 billion yen compared to 66.7 billion, last year. Earnings per share was 88.98 yen compared to 53.30 yen. Sales increased to 2.26 trillion yen from 2.24 trillion yen.
Fiscal 2021 adjusted net income to shareholders was up 3% to 800.9 billion yen. Profit to stockholders declined to 882.18 billion yen from 1.03 trillion yen, previous year. Earnings per share was 705.16 yen compared to 823.77 yen. Total sales and financial services revenue increased to 9.92 trillion yen from 9.00 trillion yen.
For fiscal 2022, the company projects: sales of 11.40 trillion yen; and net income to shareholders of 830 billion yen. Sales are expected to increase significantly year-on-year primarily due to expected significant increases in sales in the Game & Network Services and I&SS segments, the company said.
Pre-market Movers: SNOA, CHGG, SOUN, HCDI, EVER…
The following are some of the stocks making big moves in Tuesday’s pre-market trading (as of 07.10 A.M. ET).
In the Green
Sonoma Pharmaceuticals, Inc. (SNOA) is up over 50% at $4.01
SoundHound AI, Inc. (SOUN) is up over 24% at $ 13.61
Harbor Custom Development, Inc. (HCDI) is up over 17% at $3.77
Hyatt Hotels Corporation (H) is up over 9% at $102.77
HUTCHMED (China) Limited (HCM) is up over 7% at $13.19
Ucommune International Ltd (UK) is up over 7% at $4.49
Avis Budget Group, Inc. (CAR) is up over 6% at $300.00
Quantum Corporation (QMCO) is up over 5% at $1.98
In the Red
Chegg, Inc. (CHGG) is down over 38% at $15.34
EverQuote, Inc. (EVER) is down over 15% at $12.50
Hayward Holdings, Inc. (HAYW) is down over 14% at $14.49
Redbox Entertainment Inc. (RDBX) is down over 9% at $7.76
Vaxxinity, Inc. (VAXX) is down over 8% at $6.24
IN8bio, Inc. (INAB) is down over 6% at $2.25
Hecla Mining Q1 Profit Down; Declares Dividend – Quick Facts
Hecla Mining Co. (HL) reported Tuesday that its first-quarter income applicable to common shareholders fell to $4.02 million or $0.01 per share from last year’s $21.31 billion or $0.04 per share.
On average, four analysts polled by Thomson Reuters expected earnings of $0.03 per share for the quarter. Analysts’ estimates typically exclude special items.
Adjusted EBITDA was $58.20 million, lower than $86.61 million a year ago.
Sales declined to $186.50 million from last year’s $210.85 million.
Silver production was 3.3 million ounces in the quarter, down from 3.46 million ounces in the prior year.
Further, the Board of Directors declared a quarterly cash dividend of $0.00625 per share of common stock, consisting of $0.00375 per share for the minimum dividend component and $0.0025 per share for the silver-linked component. The common stock dividend is payable on or about June 10 to stockholders of record on May 25.
The Board also elected to declare a quarterly cash dividend of $0.875 per share of preferred stock, payable on or about July 1 to stockholders of record on June 15.