Brink's Maintains FY23 Outlook; Q2 Adj. EPS Misses Estimates
While reporting financial results for the second quarter on Wednesday, The Brink’s Co. (BCO) maintained its earnings and revenue guidance for the full-year 2023.
For fiscal 2023, the company still projects earnings from continuing operations attributable to Brink’s in the range of $6.45 to $7.15 per share on revenues between $4.80 billion and $4.95 billion.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $6.80 per share on revenues of $4.91 billion for the year. Analysts’ estimates typically exclude special items.
For the second quarter, net income attributable to the company edged up to $32 million or $0.68 per share from $35 million or $0.73 per share in the prior-year quarter. Excluding items, adjusted net income was $1.18 per share, compared to $1.34 per share last year.
Revenue for the quarter grew 7 percent to $1.22 billion from $1.13 billion in the same quarter last year. Organic revenues increased 8 percent.
The Street was looking for earnings of $1.33 per share on revenues of $1.21 billion for the quarter.
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CAE Q1 Earnings Surges
Aerospace and defense simulation training and critical operations support solutions provider CAE Inc. (CAE.TO,CAE) Wednesday announced a surge in first-quarter earnings compared to the prior year.
The quarterly earnings were C$67.8 million, up from C$3.7 million in the prior year. On a per-share basis, earnings were C$0.20 compared to C$0.01 last year. On an adjusted basis, earnings were C$0.24 per share.
Revenue for the quarter increased to C$1.054 billion, up from C$933.3 million last year.
Marc Parent, CAE’s CEO said, “We are off to a strong start to the fiscal year with first quarter results driven by double-digit year-over-year growth in Civil, continued strengthening and transformation in Defense, and increased profitability in Healthcare. We also further bolstered our financial position and are on track to meet our leverage target by mid-fiscal year.”
Looking ahead, the company expects its targeted fiscal 22 to 25 earnings per share compound growth rate in the mid-20% range.
Jack In The Box Inc. Q3 Profit Increases, beats estimates
Jack In The Box Inc. (JACK) released earnings for its third quarter that increased from the same period last year and beat the Street estimates.
The company’s bottom line totaled $29.17 million, or $1.41 per share. This compares with $22.86 million, or $1.08 per share, in last year’s third quarter.
Excluding items, Jack In The Box Inc. reported adjusted earnings of $30.03 million or $1.45 per share for the period.
Analysts on average had expected the company to earn $1.34 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter fell 0.3% to $396.94 million from $398.31 million last year.
Jack In The Box Inc. earnings at a glance (GAAP) :
-Earnings (Q3): $29.17 Mln. vs. $22.86 Mln. last year.
-EPS (Q3): $1.41 vs. $1.08 last year.
-Analyst Estimate: $1.34
-Revenue (Q3): $396.94 Mln vs. $398.31 Mln last year.
XPEL, Inc. Q2 income increases in line with estimates
XPEL, Inc. (XPEL) reported earnings for its second quarter that increased from last year in line with the Street estimates.
The company’s earnings came in at $15.74 million, or $0.57 per share. This compares with $11.90 million, or $0.43 per share, in last year’s second quarter.
Analysts on average had expected the company to earn $0.57 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter rose 21.9% to $102.24 million from $83.89 million last year.
XPEL, Inc. earnings at a glance (GAAP) :
-Earnings (Q2): $15.74 Mln. vs. $11.90 Mln. last year.
-EPS (Q2): $0.57 vs. $0.43 last year.
-Analyst Estimate: $0.57
-Revenue (Q2): $102.24 Mln vs. $83.89 Mln last year.
U.S. Private Sector Job Growth Far Exceeds Expectations In July
With the leisure and hospitality sector again driving growth, payroll processor ADP released a report on Wednesday showing U.S. private sector employment jumped by much more than expected in the month of July.
ADP said private sector employment shot up by 324,000 jobs in July after surging by a downwardly revised 455,000 jobs in June.
Economists had expected private sector employment to increase by 189,000 jobs compared to the spike of 497,000 jobs originally reported for the previous month.
“The economy is doing better than expected and a healthy labor market continues to support household spending,” said ADP chief economist Nela Richardson.
The much stronger than expected job growth came as employment in the leisure and hospitality sector jumped by 201,000 jobs.
Employment in the natural resources and mining sector also saw a notable increase of 48,000 jobs, while employment in the manufacturing sector fell by 36,000 jobs.
Meanwhile, ADP noted pay growth for job stayers slowed to 6.2 percent, the slowest pace of gains since November 2021. For job changers, pay growth slowed to 10.2 percent.
The Labor Department is scheduled to release its more closely watched report on employment in the month of July on Friday.
Economists currently employment to increase by 200,000 jobs in July after climbing by 209,000 jobs in June, while the unemployment rate is expected to remain at 3.6 percent.
NuStar Energy Slips 4%
NuStar Energy L.P. (NS) shares are declining more than 4 percent on Wednesday morning trade after the company announced the pricing of an offering of 13 million common units for approximately $199.6 million.
The offering is scheduled to close Friday, August 11, 2023 and the Partnership intends to use the net proceeds from the offering to redeem outstanding Series D Cumulative Convertible Preferred Units and to pay related fees and expenses.
Currently, shares are at $15.84, down 4.36 percent from the previous close of $16.56 on a volume of 858,295.