Results for: Financial Performance

BLS International Services Limited, a leading provider of tech-enabled services to governments and citizens, announced its audited consolidated financial results for the quarter and fiscal year ending March 31, 2024.

The company reported a revenue growth of 10.6% in FY24, with EBITDA and PAT surging by 56.4% and 59.4%, respectively. The EBITDA margin expanded by 603 basis points to 20.6%.

BLS International secured several key contract renewals and new agreements during the year, including the renewal of its global contract from Spain, India Operations contract in Canada, a global contract from Slovakia, and a comprehensive Visa outsourcing agreement covering multiple European countries.

The company also completed the successful IPO of its subsidiary, BLS E-Services Limited, and acquired a 100% stake in iDATA, a Turkey-based Visa & Consular service provider.

Looking ahead, BLS International is optimistic about continued profitability driven by new contracts and increased application volumes. The company remains focused on expanding its market share through organic growth initiatives and strategic acquisitions.

S Hotels and Resorts PCL (SHR) reported an 8% year-on-year increase in service revenue for the first quarter of 2024, totaling 2,742.8 million baht. This growth was driven by newly renovated room offerings, leading to a 24% surge in the Average Daily Rate (ADR). Despite operational achievements in Thailand and the CROSSROADS project, net profit declined by 11% to 111.6 million baht due to factors such as increased interest rates and the operational performance of SO/ Maldives during its ramp-up phase.

Marriott Global Corp (MAR) has announced a 21% increase in its quarterly dividend, reflecting the company’s strong financial performance and robust earnings growth. The new dividend rate is 63 cents per share, up from 52 cents previously. The dividend will be paid on June 28, 2024, to shareholders of record as of May 24, 2024.

Marico’s share price witnessed a significant surge of over 8% on May 7th, driven by positive brokerage sentiment following the company’s impressive Q4 performance. Marico reported a consolidated net profit of ₹ 320 crore in Q4FY24, reflecting a growth of 4.9% year-over-year. The company’s revenue from operations in Q4FY24 also registered an increase of 1.69% YoY to ₹ 2,278 crore, while EBITDA jumped by 12.5% to ₹ 442 crore. This led to an expansion of EBITDA margin by 190 basis points to 19.4%. Brokerage firms such as Nuvama Institutional Equities and Citi provided bullish assessments of Marico’s Q4 performance and revised their EPS estimates and target valuations upward. As a result, Marico’s share price saw a boost, with Nuvama Institutional Equities upgrading their rating to ‘Buy’ and Citi maintaining a ‘Buy’ call.

Host Hotels & Resorts, Inc., the largest lodging REIT in the US, reported mixed financial results for the first quarter of 2024, showcasing growth in key metrics amidst challenging comparisons. Total RevPAR for comparable hotels increased by 0.5%, fueled by robust group business and higher food and beverage revenues. However, RevPAR declined by 1.2% due to tough prior-year comparisons and impacts from Maui wildfires and unseasonable weather. Despite a 6.5% decline in net income, Adjusted EBITDAre surged by 8.8%, reflecting the company’s strategic capital allocation and strong performance at The Ritz-Carlton, Naples. Host also acquired two hotels in Nashville, underscoring its commitment to portfolio quality and presence in top performing markets. With a strong balance sheet and positive outlook, Host Hotels remains well-positioned for continued growth in 2024.

Marriott International, Inc. has reported its first quarter 2024 financial outcomes. The company saw a global increase in comparable systemwide constant dollar Revenue Per Available Room (RevPAR) of 4.2%, with international markets experiencing a particularly strong 11.1% growth. Adjusted diluted EPS rose to $2.13 from $2.09 in the same period last year. During the quarter, Marriott welcomed approximately 46,000 net rooms, including around 37,000 rooms under its agreement with MGM Resorts International. The company has a global development pipeline of over 3,400 properties and nearly 547,000 rooms. Financial highlights for the quarter include a 7% increase in base management and franchise fees, a 10% surge in co-brand credit card fees, and a 4% rise in incentive management fees. Marriott repurchased 4.8 million shares of common stock for $1.2 billion during the quarter, and as of April 26, has returned $1.7 billion to shareholders through dividends and share repurchases. The company raised its full year earnings guidance and expects to return between $4.2 billion and $4.4 billion to shareholders in 2024.

Austrian Airlines has announced its second-worst first-quarter performance in the company’s history, primarily due to a combination of factors including industrial action, reduced bookings, and increased operating costs. Total revenues reached EUR 403 million, comparable to Q1 2023 figures despite an 11% increase in operations. However, total expenses grew by 11% to EUR 538 million, leading to an adjusted EBIT of EUR -122 million and marking a 67% decline compared to Q1 2023.

American Airlines Group Inc. has announced its financial outcomes for the first quarter of 2024, highlighting operational excellence, financial stability, and a strong foundation for future growth. Despite challenges, American Airlines achieved its best first-quarter completion rate to date and improved its mishandled baggage rates compared to last year. Financially, the airline maintained its performance within projected ranges for all operational metrics and reported a first-quarter GAAP operating margin of 0.1%. American continues to focus on strengthening its balance sheet, reducing its total debt by nearly $950 million in this quarter. Looking ahead, American anticipates its adjusted earnings per diluted share for the second quarter of 2024 to range between $1.15 and $1.45, maintaining its forecast for full-year adjusted earnings per share to be between $2.25 and $3.25.

IT major Tech Mahindra reported a significant drop in its net profit for the March quarter, with a year-on-year decline of 41%. The company’s net profit stood at ₹661 crore in the quarter ending March 2023, marking a sharp decrease from ₹1,117.70 crore reported in the same quarter last year. This financial setback has cast a shadow over the company’s performance, as it navigates the challenges of the global economic landscape.

Check Point Software (CHKP) reported stronger-than-expected first-quarter earnings, with EPS of $2.04 surpassing analyst estimates by $0.03. Revenue also outperformed consensus forecasts, reaching $598.8 million. The company’s stock price has shown a positive trend, rising 0.89% in the past three months and a significant 27.80% over the past year.