Petco Health And Wellness Maintains FY22 Outlook As Q1 Results Top Estimates

Autohome Q1 Adj. Profit Declines

Autohome Inc. (ATHM) reported first-quarter adjusted net income attributable to company of RMB 437.5 million, compared to RMB 735.1 million, prior year. Non-GAAP earnings per ADS was RMB 3.47 compared to RMB 6.06.

Net income to ordinary shareholders declined to RMB 307.5 million from RMB 633.8 million, last year. Earnings per ADS was RMB 2.44 compared to RMB 5.22. Net revenues were RMB 1.47 billion compared to RMB 1.84 billion.

Zeng, CFO of Autohome, said: “Looking ahead, we will continue to focus on long-term business development and invest strategically to remain at the forefront of innovation while maintaining a high-quality growth standard.”

Pre-market Movers: GLBE, SGMA, EBET, NU, IIPR…

The following are some of the stocks making big moves in Tuesday’s pre-market trading (as of 07.00 A.M. ET).

In the Green

SigmaTron International, Inc. (SGMA) is up over 18% at $6.70
Esports Technologies, Inc. (EBET) is up over 18% at $3.42
Nu Holdings Ltd. (NU) is up over 10% at $4.81
Innovative Industrial Properties, Inc. (IIPR) is up over 8% at $145.00
Zepp Health Corporation (ZEPP) is up over 8% at $2.25
On Holding AG (ONON) is up over 7% at $21.85
MicroStrategy Incorporated (MSTR) is up over 6% at $215.00
IonQ, Inc. (IONQ) is up over 6% at $5.18
Tencent Music Entertainment Group (TME) is up over 6% at $4.44
Redwire Corporation (RDW) is up over 6% at $4.00

In the Red

Global-e Online Ltd. (GLBE) is down over 25% at $14.38
Griffon Corporation (GFF) is down over 8% at $27.62
Dorchester Minerals, L.P. (DMLP) is down over 5% at $27.55

Abercrombie & Fitch Posts Loss In Q1

Abercrombie & Fitch Co. (ANF) reported a first quarter net loss per share of $0.27 on an adjusted non-GAAP basis, compared to profit of $0.67, prior year. On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $0.08, for the quarter. Analysts’ estimates typically exclude special items.

Net loss attributable to A&F was $16.47 million or $0.32 per share compared to profit of $41.77 million or $0.64 per share, prior year.

Net sales were $813 million, up 4% as compared to last year. Analysts on average had estimated $799.31 million in revenue.

For the second quarter, the company expects net sales to be down low-single-digits. For fiscal 2022, the company projects net sales to be flat to up 2% from 2021, down from previous outlook of up 2 to 4%. Looking forward, the company expects higher costs to remain a headwind through at least year-end.

Shares of Abercrombie & Fitch Co. were down 25% in pre-market trade on Tuesday.

Renewi To Buy GMP Exploitatie For 67 Mln Euros

Renewi Plc (RWI.L), a European waste-to-product business, said on Tuesday that it has reached a conditional deal to acquire GMP Exploitatie BV, known as Paro, a Dutch commercial waste and recycling business, from GMP Groep BV for 67 million euros.

Cash consideration for Paro of 53.5 million euros, including debt and other items, will be paid on completion of the deal.

The acquisition will be funded from the company’s existing facilities.

The company expects the acquisition to be earnings accretive. It is consistent with Renewi’s strategy to expand market share.

Otto de Bont, Chief Executive of Renewi, said: “…The transaction strengthens our position in secondary material production and is fully aligned with our strategy to produce higher quality secondary materials. It is expected to generate significant synergies with our existing operations in the Netherlands.”

With gross assets of 34.4 million euros, Paro reported revenues of 43 million euros with an operating profit of 7.3 million euros for the year 2021.

Pre-market Movers: BBAI, SNAP, CANG, BGXX, NLS…

The following are some of the stocks making big moves in Tuesday’s pre-market trading (as of 07.00 A.M. ET).

In the Green

Decisionpoint Systems, Inc. (DPSI) is up over 14% at $6.31
SELLAS Life Sciences Group, Inc. (SLS) is up over 14% at $3.65
Insulet Corporation (PODD) is up over 11% at $225.25
Aerojet Rocketdyne Holdings, Inc. (AJRD) is up over 7% at $42.99
BRC Inc. (BRCC) is up over 7% at $10.47
Zoom Video Communications, Inc. (ZM) is up over 5% at $94.62
Diana Shipping Inc. (DSX) is up over 5% at $6.33

In the Red

BigBear.ai Holdings, Inc. (BBAI) is down over 30% at $7.00
Snap Inc. (SNAP) is down over 29% at $15.75
Cango Inc. (CANG) is down over 18% at $2.95
Bright Green Corporation (BGXX) is down over 15% at $11.24
Nautilus, Inc. (NLS) is down over 15% at $2.13
Pinterest, Inc. (PINS) is down over 12% at $19.75
Inspirato Incorporated (ISPO) is down over 10% at $4.64
The Beauty Health Company (SKIN) is down over 9% at $11
Lixiang Education Holding Co., Ltd. (LXEH) is down over 9% at $2.85
Elbit Systems Ltd. (ESLT) is down over 8% at $202.24
NanoViricides, Inc. (NNVC) is down over 8% at $2.03
Meta Platforms, Inc. (FB) is down over 6% at $182.70

Petco Health And Wellness Maintains FY22 Outlook As Q1 Results Top Estimates

While reporting its financial results for the first quarter on Tuesday, pet health and wellness firm Petco Health and Wellness Co., Inc. (WOOF) maintained its adjusted earnings and revenue guidance for the full-year 2022.

For fiscal 2022, the company continues to project adjusted earnings in a range of $0.97 to $1.00 per share on revenues between $6.15 billion and $6.25 billion.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.99 per share on revenues of $6.22 billion for the year. Analysts’ estimates typically exclude special items.

For the first quarter, net income attributable to shareholders soared to $24.69 million or $0.09 per share from $7.56 million or $0.03 per share in the prior-year quarter. Excluding items, adjusted earnings were $0.17 per share, compared to last year’s $0.17 per share.

Net sales for the quarter increased 4.3 percent to $1.48 billion from $1.41 billion in the same quarter last year. Comp sales growth was 5.1 percent.

The Street was looking for earnings of $0.15 per share on net sales of $1.46 billion for the quarter.