Canopy Growth Posts Narrower Adj. EBITDA Loss In Q2 – Quick Facts
Canopy Growth Corp. (WEED.TO,CGC) reported a second quarter loss per share of C$0.09 compared to profit of C$0.25, a year ago. Net loss attributable to Canopy was C$32.06 million compared to profit of C$258.92 million. The company said the net loss was driven by lower other income. Adjusted EBITDA loss was C$85.7 million, compared to a loss of C$150.4 million, last year, driven by higher revenue and lower operating expenses.
Second quarter revenue increased to C$150.83 million from C$85.62 million, previous year. Net revenue was C$135.27 million compared to C$76.61 million. The company said it achieved record quarterly net revenue driven by increase in Canadian recreational revenue, continued strength in Storz & Bickel vaporizer sales and ThisWorks, and contribution from BioSteel, which was acquired in October 2019. Adjusting for prior year charge, net sales increased 24% year-on-year.
Watch Fed Chair Jerome Powell speak live at a European Central Bank forum
- Federal Reserve Chairman Jerome Powell is participating Thursday in a policy panel before a European Central Bank Forum on central banking. The appearance will feature a question-and-answer session with the U.S. central bank chief.
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Federal Reserve Chairman Jerome Powell is participating Thursday in a policy panel before a European Central Bank Forum on central banking. The appearance will feature a question-and-answer session with the U.S. central bank chief.
A week ago, the Fed agreed to hold its benchmark short-term borrowing rate near zero and continue a policy in which it will keep rates there until inflation has consistently run somewhat above 2%. In addition, Fed officials recently discussed a focus on climate change and how it impacts financial stability.
The Fed is set to take on a new challenge: Climate change
Fed officials in 'robust' discussions about the future of their asset-purchase program
Fed holds interest rates steady near zero, says economy is still well below pre-pandemic levels
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Indonesia Pushes for Southeast Asia Travel Bubble in Early 2021
Indonesia is pushing for a travel corridor arrangement for Southeast Asian countries to be in place in the first three months of 2021.
President Joko Widodo said a declaration on the travel corridor will be issued during the ongoing Asean Summit. Indonesia proposed the move in June, when Thailand and Malaysia said they backed the move, while other countries haven’t signaled their support for the arrangement.
Indonesia is struggling with the largest coronavirus outbreak in Southeast Asia, with the number of confirmed cases surging more than 50% from September to 448,118 as of yesterday. The region’s largest economy is also seeking to rebound from a technical recession, after two straight quarters of annual economic contraction.
Asean needs to put in place temporary fast lanes and health protocols to facilitate the travel corridor, which would help the region’s economic activity pick up, Widodo said in a statement Thursday. “The people can’t wait for much longer, they want to see our region revive,” he added.
France confirms death of soldier in Egypt peace-keeping mission
PARIS (Reuters) – France confirmed on Thursday that one of its soldiers operating in the U.S.-led Multinational Force and Observers (MFO) in the Egyptian Sinai had been killed in a helicopter crash, the presidency said in a statement.
Six Americans and a Czech national were also killed during the accident.
Energizer Holdings Inc. Q4 adjusted earnings Miss Estimates
Below are the earnings highlights for Energizer Holdings Inc. (ENR):
-Earnings: -$55.6 million in Q4 vs. $41.9 million in the same period last year.
-EPS: -$0.81 in Q4 vs. $0.61 in the same period last year.
-Excluding items, Energizer Holdings Inc. reported adjusted earnings of $44.7 million or $0.59 per share for the period.
-Analysts projected $0.81 per share
-Revenue: $763.0 million in Q4 vs. $719.0 million in the same period last year.
Taylor Wimpey Plc Issues Trading Update – Quick Facts
Taylor Wimpey Plc (TW.L) said it has continued to operate through a pre-booked appointments model and have achieved a good sales rate of 0.76 homes per outlet per week in the second half of the year to date and 0.73 homes per outlet per week for the year to date. The Group is on track to deliver full year 2020 results towards the upper end of market expectations.
Taylor Wimpey now projects 2021 completions to be between 85-90% of 2019 levels. The Group expects to recommence ordinary dividend payments in 2021, starting with the payment of the 2020 final dividend. The Group will review the special dividend in 2021 for payment in 2022.
Pete Redfern, Chief Executive, said: “We are now safely operating at close to normal capacity with a product profile well positioned to meet customer demand. Assuming the market remains broadly stable, we expect to deliver 2021 operating profit materially above the top end of the current consensus range.”
SGL Carbon Q3 Operating Recurring EBIT Improves
SGL Carbon SE (SGLFF.PK) reported that its third-quarter operating recurring EBIT improved substantially to 15 million euros compared to the prior quarter which was weakened by the COVID-19 pandemic.
Sales revenues increased about 10% to 227 million euros compared to the prior quarter.
For the full year 2020, SGL Carbon continues to expect Group sales revenues to decline by 15% to 20% and operating recurring Group EBIT to record a slightly positive result. However, outlook for Group net result is reduced to minus 130 million euros to 150 million euros due to the above-mentioned measures.