Results for: Financial Results

Thermo Fisher Scientific (NYSE: TMO) reported strong first-quarter results, with adjusted earnings per share (EPS) and revenue surpassing analysts’ estimates. The company’s revenue of $10.34 billion exceeded expectations of $10.16 billion, while adjusted EPS of $5.11 outperformed the estimate of $4.71. Despite a 3% revenue decline year-over-year, Thermo Fisher posted a 2% increase in adjusted EPS and a 4% growth in GAAP diluted EPS. Chairman and CEO Marc N. Casper attributed the success to the company’s growth strategy and PPI Business System, emphasizing customer success, commercial execution, and operational discipline. Thermo Fisher has raised its full-year guidance, expecting revenue between $42.3 billion and $43.3 billion and adjusted EPS between $21.14 and $22.02. The company’s proactive capital deployment included a $3.0 billion stock repurchase and an 11% dividend increase, reflecting its confidence in its financial strength and commitment to shareholder value.

TE Connectivity (TEL) reported strong financial results for the second quarter of fiscal 2024, driven by significant margin expansion and record cash flow generation. Net sales were in line with guidance, down 5% year-over-year and 3% organically, but grew 4% sequentially on a reported basis and 3% organically. GAAP diluted earnings per share from continuing operations exceeded guidance, reaching $1.86, an increase of 13% year-over-year. Orders were up 6% sequentially, with growth in all segments. Operating margins were 17.4%, and adjusted operating margins were 18.5%, up 250 basis points year-over-year, driven by strong operational performance. The company generated record cash flow in the first half of the fiscal year, with cash from operating activities up 18% year-over-year and free cash flow up 32% year-over-year. TE Connectivity deployed over $1.5 billion of capital year-to-date, with approximately $1.2 billion returned to shareholders and approximately $350 million used for the bolt-on acquisition of Schaffner. The company also issued its Connecting Our World report, highlighting a 72% reduction in Scope 1 and 2 greenhouse gas emissions over the past three years and set Scope 3 reduction targets validated by the Science Based Targets initiative.

Samsung Biologics, a global contract development and manufacturing organization (CDMO), has announced impressive financial results for the first quarter of fiscal year 2024, driven by the robust demand for its client-centric services and strategic investments in cutting-edge therapeutic technologies. The company reported a 31.3% increase in consolidated revenue and a 26.5% increase in net profit compared to the same period in the previous year.

JetBlue has released its financial results for the first quarter of 2024, reporting a net loss of $716 million. The primary factor behind this loss was the failed merger with Spirit Airlines. Despite the significant loss, JetBlue’s CEO expressed that the results exceeded expectations. The airline faced challenges due to reduced capacity, increased expenses, and the costs associated with the failed merger, including a payout to Spirit Airlines. JetBlue has adjusted its strategy, withdrawing from certain South American markets to focus on more profitable routes. The ongoing issue with Pratt & Whitney engines also continues to impact the airline. JetBlue expects to receive a total of 27 Airbus planes this year as part of its aircraft delivery plan. The replacement of Embraer E190s with A220s is projected to generate substantial savings in the future.

Perseus Mining reported exceptional gold production of 127,471 ounces in Q3 FY2024 from its three mines in West Africa, with a financial year-to-date total of 389,048 ounces. Across its operations, the company achieved a weighted average production cost of US$923 per ounce and an all-in site cost of US$1,091 per ounce. Despite lower gold sales in the March quarter, the company’s realized gold price increased, resulting in an average cash margin of US$934 per ounce and notional operating cashflow of US$119 million. Looking ahead, Perseus anticipates continued operational strength, maintaining its gold production and AISC guidance for the remaining June 2024 half year.

Kaltura (Nasdaq: KLTR), a leading provider of video technology solutions, will release its financial results for the first quarter ended March 31, 2024, on Wednesday, May 8, 2024, before the market opens. The company will host a conference call the same day at 8:00 a.m. ET to review the results and discuss its financial outlook.

Mahindra & Mahindra Financial Services (Mahindra Finance) has detected a fraud of approximately ₹150 crore in its loan portfolio at one of its branches in the northeast. The fraud involved the forgery of KYC documents for retail vehicle loans, leading to the embezzlement of company funds. Investigations are underway, and corrective actions are being implemented, including the arrest of individuals involved. The board meeting to approve financial results for the fourth quarter and fiscal year 2023-24 has been rescheduled to May 30th. The company has also approved a hike in borrowing limit to ₹1.30 lakh crore, and the appointment of new auditors and an additional director.

Grupo Rotoplas, leading water solutions provider in the Americas, has reported its unaudited first quarter 2024 results. The company has navigated weak demand and adverse exchange rates in certain regions, while maintaining profitability and expanding its solutions in others.

Valvoline Inc. (VVV), the leading provider of automotive preventive maintenance, will release its financial results for the fiscal second quarter of 2024 on May 8, 2024. The company will also host a live audio webcast with analysts and investors on May 8, 2024, at 9 a.m. ET. The webcast and slide presentation will be available on Valvoline’s Investor Relations website at http://investors.valvoline.com. A replay of the webcast will be available on the same website shortly after the call concludes.

Valvoline Inc., the leading provider of quick, easy, and trusted preventive automotive maintenance, will report its financial results for the second quarter of fiscal 2024 on May 8, 2024. The announcement will also include a live audio webcast with analysts and investors on the same day at a specified time. Interested individuals can access the webcast and slide presentation on the company’s Investor Relations website. A replay of the webcast will be available shortly after its conclusion on the same website.