Canadian Solar Inc. Q4 Income Rises
Canadian Solar Inc. (CSIQ) reported earnings for its fourth quarter that increased from the same period last year
The company’s earnings came in at $77.83 million, or $1.11 per share. This compares with $25.96 million, or $0.39 per share, in last year’s fourth quarter.
The company’s revenue for the quarter rose 28.8% to $1.97 billion from $1.53 billion last year.
Canadian Solar Inc. earnings at a glance (GAAP) :
-Earnings (Q4): $77.83 Mln. vs. $25.96 Mln. last year.
-EPS (Q4): $1.11 vs. $0.39 last year.
-Revenue (Q4): $1.97 Bln vs. $1.53 Bln last year.
Ducommun To Acquire BLR Aerospace – Quick Facts
Ducommun Incorporated (DCO) has entered into a definitive securities purchase agreement to acquire BLR Aerospace, LLC. Headquartered in Everett, Washington, BLR Aerospace is a provider of aerodynamic systems that enhance the productivity, performance and safety of rotary- and fixed-wing aircraft on commercial and military platforms.
Stephen Oswald, CEO of Ducommun, said: “This is a first step in our commitment made during Ducommun’s Investor Day last December to increase the amount of engineered products and aftermarket in our revenues.”
Ducommun plans to finance the acquisition through its existing revolving credit facility. The acquisition is expected to be completed during the second quarter of 2023.
On Holding Reports Adj. Profit In Q1; Net Sales Up 91.9%
On Holding AG (ONON) reported that its fourth quarter net loss narrowed to to 26.4 million Swiss francs from a loss of 187.0 million Swiss francs, prior year. Loss per share was 0.08 francs compared to a loss of 0.60 francs. Adjusted profit per class A share was 0.02 francs compared to a loss of 0.04 francs.
Net sales increased 91.9% to 366.8 million Swiss francs. Net sales through the direct-to-consumer sales channel increased 76.4% to 149.4 million francs. Net sales through the wholesale sales channel increased 104.3% to 217.3 million francs.
Compared to a supply constrained first quarter of 2022, On expects a net sales growth rate of 61% in the first quarter of 2023.
On expects to reach net sales of at least 1.7 billion Swiss francs for the full year 2023.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
Pre-market Movers: GTLB, PACW, AMLX, FRC, WAL…
The following are some of the stocks making big moves in Tuesday’s pre-market trading (as of 07.15 A.M. ET).
In the Green
PacWest Bancorp (PACW) is up over 29% at $12.64.
Amylyx Pharmaceuticals, Inc. (AMLX) is up over 19% at $37.33.
First Republic Bank (FRC) is up over 19% at $37.25.
Western Alliance Bancorporation (WAL) is up over 19% at $31.19.
Momentive Global Inc. (MNTV) is up over 18% at $9.16.
Metropolitan Bank Holding Corp. (MCB) is up over 13% at $28.01.
KeyCorp (KEY) is up over 12% at $12.80.
Comerica Incorporated (CMA) is up over 10% at $46.24.
Fifth Third Bancorp (FITB) is up over 9% at $28.64.
Customers Bancorp, Inc. (CUBI) is up over 9% at $19.00.
TrueCar, Inc. (TRUE) is up over 9% at $2.18.
Zions Bancorporation, National Association (ZION) is up over 8% at $32.61.
Alterity Therapeutics Limited (ATHE) is up over 7% at $3.38.
The Charles Schwab Corporation (SCHW) is up over 6% at $55.35.
In the Red
GitLab Inc. (GTLB) is down over 31% at $30.68.
Toro Corp. (TORO) is down over 9% at $3.58.
BigBear.ai Holdings, Inc. (BBAI) is down over 9% at $2.07.
So-Young International Posts Profit In Q4, But Revenue Declines
So-Young International Inc. (SY), a Chinese online provider of medical aesthetic information, on Tuesday reported a profit for the fourth-quarter, particularly reflecting decline in expenses.
However, the company posted a decline in revenue as a result of decrease in average revenue per paying medical service provider, followed by pressure on overall Chinese consumer market.
For the three-month period, the firm posted a net income of RMB31.3 million or RMB 0.38 per share, compared with a net loss of RMB27.7 million or RMB 0.34 in the fourth quarter of 2021.
Adjusted income was at RMB38.8 million, lesser than last year’s RMB62.9 million.
Income per ADS stood at RMB0.29, compared with a loss of RMB0.26 of previous year quarter.
Income from operations was at RMB24.345 million, versus a loss of RMB 49.473 million of previous year.
Pre-tax earnings were at RMB 29.342 million, compared with a loss of RMB 43.397 million of last year period.
Total operating expenses dropped to RMB212.6 million from RMB371.9 million of 2021. Cost of revenues fell to RMB88.2 million from RMB127.1 million a year ago.
Revenue was at RMB 325.146 million, down from RMB 449.523 million of 2021.
Looking ahead, for the first quarter, So-Young expects revenue of RMB290 million – RMB310 million.
ProFrac Posts Attributable Profit Of About $41 Mln In Q4
ProFrac Holding Corp. (ACDC) reported that its fourth quarter net income attributable to the company was $40.9 million compared to break even in the prior year.
Net income for the fourth quarter was $116.0 million up from $5.1 million in the prior year.
The latest quarter results included the consolidation of Flotek results which contributed $15.9 million in revenue excluding intercompany eliminations.
Excluding the operating results attributable to Flotek, net income for the latest quarter was $123.8 million.
Revenues for the fourth quarter grew to $794.1 million from $248.0 million last year.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
Pre-market Movers: GDEV, FRC, YELL, AG, AMBI…
The following are some of the stocks making big moves in Tuesday’s pre-market trading (as of 07.05 A.M. ET).
In the Green
First Republic Bank (FRC) is up over 21% at $14.83.
Yellow Corporation (YELL) is up over 19% at $2.47.
RPC, Inc. (RES) is up over 7% at $8.54.
On Holding AG (ONON) is up over 6% at $23.02.
Borr Drilling Limited (BORR) is up over 6% at $7.32.
Banco Santander, S.A. (SAN) is up over 6% at $3.62.
TORM plc (TRMD) is up over 5% at $36.13.
Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) is up over 5% at $7.00.
In the Red
Nexters Inc. (GDEV) is down over 37% at $2.35.
First Majestic Silver Corp. (AG) is down over 16% at $6.18.
Ambipar Emergency Response (AMBI) is down over 8% at $12.91.
Monopar Therapeutics Inc. (MNPR) is down over 8% at $2.46.
Lifecore Biomedical, Inc. (LFCR) is down over 7% at $2.87.