Swiss Water Reports Year End and Fourth Quarter 2024 Results
Fiscal Year 2024 Financial Highlights
Revenue of $173.1 million, an increase of 4% over the prior year;
Gross Profit of $26.2 million, an increase of 39% over prior year;
Net Income of $1.3 million, an increase of 340% over prior year;
Adjusted EBITDA of $14.3 million, an increase of 7% over the prior year;
Volumes for the year are up slightly;
Operating cost efficiencies from consolidated production;
The NY'C' coffee futures price for Arabica coffee remained volatile during the year, peaking at US$3.36/lb in December. In 2024, the NY'C' averaged US$2.35/lb, compared to an average of US$1.72/lb in 2023, an increase of 37%. Spot availability of coffees remains very low and pressure on the futures market continues.
Fourth Quarter 2024 Highlights
Revenue of $49.2 million, an increase of 19% over Q4 2023;
Gross Profit of $7.0 million, an increase of 1% over Q4 2023;
Net Income of $2.0 million, an increase of 109% over prior year;
Adjusted EBITDA of $4.9 million, a slight decrease of 2% over Q4 2023;
Full repayment of $15.9 million Mill Road debenture with warrants;
Q4 2024 volumes were stronger than anticipated. However, they were marginally lower than Q4 2023, which included higher than normal volumes as a backlog of orders which had accumulated during the transition to the Company's new facility were processed and shipped.
"2024 was a pivotal year for Swiss Water, one of transformation and resilience. Despite persistent volatility in global coffee markets, we are pleased to report solid results that underscore the effectiveness of our strategic approach and the trust of our customers. The consolidation of our production into our new Delta facility has positioned us for enhanced operational efficiency and sustainable long-term growth,' said Frank Dennis, CEO of Swiss Water. 'Our reputation for premium quality decaffeinated coffee, combined with our strategic inventory positioning, enabled us to meet our customers' needs during a challenging market environment. By maintaining a strong balance sheet, we preserved inventory in critical locations, ensuring roasters could access our high-quality coffee with immediate availability. In the fourth quarter, we further fortified our financial position by retiring a significant debt obligation to Mill Road Capital LLC, which meaningfully expands our strategic and financial flexibility. As we look forward, we remain steadfastly committed to creating value for our customers and stakeholders, by confidently navigating the dynamic global coffee landscape."
Summary of Financial Results
In C$ '000s except per share amounts
3 months ended December 31
12 months ended December 31
2024
2023
$ Change
% Change
2024
2023
$ Change
% Change
Revenue
49,249
41,237
8,012
19%
173,129
166,277
6,852
4%
Cost of sales
(42,275)
(34,321)
(7,954)
23%
(146,939)
(147,479)
540
0%
Gross profit
6,974
6,916
58
1%
26,190
18,798
7,392
39%
Operating expenses
(3,811)
(3,544)
(267)
8%
(15,135)
(13,168)
(1,967)
15%
Operating income
3,163
3,372
(209)
-6%
11,055
5,630
5,425
96%
Non operating or other
(299)
(1,981)
1,682
85%
(8,744)
(6,162)
(2,582)
42%
Income tax recovery (expenses)
(851)
(430)
(421)
98%
(1,042)
4
(1,046)
-100%
Net income (loss)
2,013
961
1,052
109%
1,269
(528)
1,797
340%
Adjusted EBITDA1
4,885
5,008
(123)
-2%
14,318
13,354
964
7%
Net income (loss) per share – basic
0.21
0.10
0.13
(0.06)
Net income (loss) per share - diluted2
0.21
0.10
0.13
(0.06)
Adjusted EBITDA
Swiss Water defines Adjusted EBITDA as net income before interest, depreciation, amortization, impairments, share-based compensation, gains/losses on foreign exchange, gains/losses on disposal of property and capital equipment, fair value adjustments on embedded options, loss on extinguishment of debt, adjustment for the impact of IFRS 16 - Leases, and provision for income taxes and other non-cash gains related to a remeasurement of asset retirement obligation. The Company's definition of Adjusted EBITDA also excludes unrealized gains and losses on the undesignated portion of foreign exchange forward contracts.
The reconciliation of net income, an IFRS measure, to Adjusted EBITDA is as follows:
In C$ '000s
3 months ended December 31
12 months ended December 31
2024
2023
2024
2023
Net income (loss) for the period
$
2,013
$
961
$
1,269
$
(528)
Income tax (recovery) expense
851
430
1,042
(4)
Income (loss) before tax
$
2,864
$
1,391
$
2,311
$
(532)
Finance income
(334)
(492)
(1,749)
(1,629)
Finance expense
1,865
2,326
8,740
8,265
Depreciation & amortization
1,617
1,752
6,777
9,188
Unrealized (gain) loss on foreign exchange forward contracts
(34)
38
(71)
127
Fair value (gain) loss on the embedded option
315
126
979
(76)
Other gains
-
-
-
(175)
Loss (gain) on foreign exchange
(1,070)
377
(1,387)
234
Share-based compensation
302
130
1,277
597
Impact of IFRS 16 - Leases
(640)
(640)
(2,559)
(2,645)
Adjusted EBITDA
$
4,885
$
5,008
$
14,318
$
13,354
Call Details
A conference call to discuss Swiss Water's recent financial results will be held on Thursday, March 13, 2025, at 1:00 pm Pacific (4:00 pm Eastern). To access the conference call, please dial:
(toll-free) or
(international);
Listeners will be prompted to provide If a listener does not have this code, they can reference the as an alternative
A replay will be available through March 27, 2025, at
1-877-481-4010 (toll-free) or
1-919-882-2331 (international); replay passcode: 52072
A more detailed discussion of Swiss Water Decaffeinated Coffee Inc.'s recent financial results is provided in the Company's Management Discussion and Analysis filed on SEDAR+ and Swiss Water's website (investor.swisswater.com).
For more information, please contact:
Iain Carswell, Chief Financial OfficerSwiss Water Decaffeinated Coffee Inc.Phone: 604.420.4050Email: investor-relations@swisswater.com Website: investor.swisswater.com
About Swiss Water
Swiss Water Decaffeinated Coffee Inc. is a leading specialty coffee company and a premium chemical free coffee decaffeinator that employs the proprietary Swiss Water® Process to decaffeinate green coffee without the use of chemical solvents, such as methylene chloride. It also owns Seaforth Supply Chain Solutions Inc., a green coffee handling and storage business. Both businesses are located in Delta, British Columbia, Canada.
Forward-Looking Statements
Certain statements in this press release may constitute 'forward-looking' statements that involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. When used in this press release, such statements may include such words as 'may', 'will', 'expect', 'believe', 'plan', 'anticipate' and other similar terminology. These statements reflect management's current expectations regarding future events and operating performance, as well as management's current estimates, but which are based on numerous assumptions and may prove to be incorrect. These statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties, including, but not limited to, risks related to processing volumes and sales growth, operating results, the supply of utilities, the supply of coffee and packaging materials, supply of labour force, general industry conditions, commodity price risks, technology, competition, foreign exchange rates, construction timing, costs and financing of capital projects, a potential impact of any pandemics, global and local climate changes, changes in interest rates, inflation, taxation, transportation availability, and general economic conditions. Additional risks are discussed in Swiss Water's most recently published Annual Information Form, the annual and quarterly Management Discussion and Analysis, and audited and interim consolidated financial statements that can be found on SEDAR+ and the Company's website. The forward-looking statements and financial outlook information contained herein are made as of the date of this press release and are expressly qualified in their entirety by this cautionary statement. Except to the extent required by applicable securities law, Swiss Water undertakes no obligation to publicly update or revise any such statements to reflect any change in management's expectations or in events, conditions, or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those described.Sign in to access your portfolio
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The truce was set to expire on Tuesday, but this latest extension means the US will maintain its 30% tariffs on Chinese imports and Beijing will hold its 10% levy on US goods. Oil prices rose following the announcement of this extension, as it eased investor concerns that higher tariffs on China would weigh on the economy and demand for fuel. Brent crude (BZ=F) futures climbed 0.2% to $65.84 per barrel at the time of writing, while West Texas Intermediate futures (CL=F) gained 0.2% to $64.10 a barrel. Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: How to contribute to a loved one's pension Pensions are an incredibly tax efficient way of saving for our future. We know that regular contributions, the tax relief boost and long-term investment performance can supercharge your planning. However, what many people don't realise is that you can also take steps to boost other people's retirements as well. In a recent survey by Hargreaves Lansdown, only about a third of people knew you could contribute to a loved one's pension. Higher earners tended to be much more aware, with well over three-quarters of additional rate taxpayers saying they knew about the rule. This compares with 61% of higher rate taxpayers and 29% of those paying basic rate tax. According to the rules, you can pay up to £2,880 per year into the self-invested personal pension (SIPP) of a non-working spouse. Even though they are not working, so not paying tax, they will still get a tax relief top-up from government, taking it up to £3,600. It's a powerful way to improve the retirement planning of a loved one who is taking time out of the workforce to care for children or other loved ones and can go a long way towards closing the gender pension gap that continues to yawn widely. You can also make payments to your partner's pension even if they are working, as long as total contributions do not exceed their annual allowance. It's a great way to make the most of any spare cash you have if you have made the most of your own pension allowances. The rule can be expanded even further than that of a spouse or partner. You can also contribute to the pension of a child through a junior SIPP and get their retirement planning off to a flying start. As with a non-working spouse, you can contribute up to £2,880 per year to a junior SIPP and they will receive the government tax relief top up to £3,600. Read more here Pensions are an incredibly tax efficient way of saving for our future. We know that regular contributions, the tax relief boost and long-term investment performance can supercharge your planning. However, what many people don't realise is that you can also take steps to boost other people's retirements as well. In a recent survey by Hargreaves Lansdown, only about a third of people knew you could contribute to a loved one's pension. Higher earners tended to be much more aware, with well over three-quarters of additional rate taxpayers saying they knew about the rule. This compares with 61% of higher rate taxpayers and 29% of those paying basic rate tax. According to the rules, you can pay up to £2,880 per year into the self-invested personal pension (SIPP) of a non-working spouse. Even though they are not working, so not paying tax, they will still get a tax relief top-up from government, taking it up to £3,600. It's a powerful way to improve the retirement planning of a loved one who is taking time out of the workforce to care for children or other loved ones and can go a long way towards closing the gender pension gap that continues to yawn widely. You can also make payments to your partner's pension even if they are working, as long as total contributions do not exceed their annual allowance. It's a great way to make the most of any spare cash you have if you have made the most of your own pension allowances. The rule can be expanded even further than that of a spouse or partner. You can also contribute to the pension of a child through a junior SIPP and get their retirement planning off to a flying start. As with a non-working spouse, you can contribute up to £2,880 per year to a junior SIPP and they will receive the government tax relief top up to £3,600. Read more here Bellway produces modest growth as it awaits planning reform impact Bellway's full year trading statement revealed that the company is doing well in terms of revenue growth, but a little flat elsewhere. The company's completions were 8,749 for the year, up 14% compared to last year, and the average sale price was £316k, up 2.6%. Both figures are ahead of guidance, and combining to generate a revenue uplift of 17% the previous year. However, the company is coming off a particularly low base in 2024 – despite growing almost 12% in the year, the reservation rate per outlet was just 0.57x, and 0.62x in the six months to the end July. That number is low compared to history and peers; for comparison, Taylor Wimpey announced an equivalent sales rate of 0.79x recently for a similar time period. Oli Creasey, head of property research at Quilter Cheviot, said: Bellway's full year trading statement revealed that the company is doing well in terms of revenue growth, but a little flat elsewhere. The company's completions were 8,749 for the year, up 14% compared to last year, and the average sale price was £316k, up 2.6%. Both figures are ahead of guidance, and combining to generate a revenue uplift of 17% the previous year. However, the company is coming off a particularly low base in 2024 – despite growing almost 12% in the year, the reservation rate per outlet was just 0.57x, and 0.62x in the six months to the end July. That number is low compared to history and peers; for comparison, Taylor Wimpey announced an equivalent sales rate of 0.79x recently for a similar time period. Oli Creasey, head of property research at Quilter Cheviot, said: Borrowing costs rise after jobs data The cost of government borrowing has risen today as the latest ONS jobs figures delivered a blow to hopes for interest rate cuts. The yield on 10-year UK gilts, a benchmark for the cost of servicing the national debt, climbed four basis points to 4.61%, well ahead of rises in Europe and the US. It comes as yields on bond markets tend to rise when there are expectations that interest rates will remain higher. Elliott Jordan-Doak, senior UK economist at Pantheon Macroeconomics, said: The cost of government borrowing has risen today as the latest ONS jobs figures delivered a blow to hopes for interest rate cuts. The yield on 10-year UK gilts, a benchmark for the cost of servicing the national debt, climbed four basis points to 4.61%, well ahead of rises in Europe and the US. It comes as yields on bond markets tend to rise when there are expectations that interest rates will remain higher. Elliott Jordan-Doak, senior UK economist at Pantheon Macroeconomics, said: Entain boosted by online betting surge Coral and Ladbrokes owner Entain has revealed a surge in online gaming as popular sporting events such as Wimbledon and the men's football Club World Cup reeled in punters. The sports betting giant reported total net gaming revenues – the amount of money the company pockets after paying out winnings to customers – of £2.6 billion for the first six months of the year, excluding its operations in the US. The increase jumped to 8% in the UK and Ireland, the company's biggest market, while online sales in the region surged by a fifth year-on-year. Both the volume of players and the value of sales increased, which Entain said reflected an improved experience for customers as well as previous changes to gambling rules starting to level out. The company had previously warned about the impact from regulatory changes in the UK which were designed to make betting safer for consumers. The FIFA Club World Cup final, which saw Chelsea beat PSG, was the most bet-on football match of 2025 for Entain's brands, with strong engagement coming from Brazil, Spain and the US. Interest in horse racing surged with the Royal Ascot and the Epsom Derby Festival both among the most bet-on competitions, while Wimbledon Tennis and the Women's Euro football tournament were also drawing in bets. Entain nonetheless reported a pre-tax loss of £96 million for the first half, swinging from a £13.7 million profit the prior year which the firm said was driven by one-off costs. On an underlying basis, earnings before tax, interest and other costs came in at £583.4 million for the period – 11% higher than last year. The company said it was now expecting higher sales growth for the year than its previous outlook, with online net gaming revenues forecast to rise by 7%. Annual underlying earnings are estimated to be between £1.1 billion and £1.15 billion. Coral and Ladbrokes owner Entain has revealed a surge in online gaming as popular sporting events such as Wimbledon and the men's football Club World Cup reeled in punters. The sports betting giant reported total net gaming revenues – the amount of money the company pockets after paying out winnings to customers – of £2.6 billion for the first six months of the year, excluding its operations in the US. The increase jumped to 8% in the UK and Ireland, the company's biggest market, while online sales in the region surged by a fifth year-on-year. Both the volume of players and the value of sales increased, which Entain said reflected an improved experience for customers as well as previous changes to gambling rules starting to level out. The company had previously warned about the impact from regulatory changes in the UK which were designed to make betting safer for consumers. The FIFA Club World Cup final, which saw Chelsea beat PSG, was the most bet-on football match of 2025 for Entain's brands, with strong engagement coming from Brazil, Spain and the US. Interest in horse racing surged with the Royal Ascot and the Epsom Derby Festival both among the most bet-on competitions, while Wimbledon Tennis and the Women's Euro football tournament were also drawing in bets. Entain nonetheless reported a pre-tax loss of £96 million for the first half, swinging from a £13.7 million profit the prior year which the firm said was driven by one-off costs. On an underlying basis, earnings before tax, interest and other costs came in at £583.4 million for the period – 11% higher than last year. The company said it was now expecting higher sales growth for the year than its previous outlook, with online net gaming revenues forecast to rise by 7%. Annual underlying earnings are estimated to be between £1.1 billion and £1.15 billion. Where did wages rise and fall? Today's ONS data shows that the wholesale, retail, hotels and restaurants sector posted the strongest annual regular growth rate (excluding bonuses), at 6.8%, in the April to June period. The finance and business services sector, which pay out more bonuses, had the lowest annual regular growth rate, at 3.1%. Average annual pay growth was 5.7% for the public sector, and 4.8% for the private sector. Yael Selfin, chief economist at KPMG UK, said the labour market outlook 'is uncertain' days after the Bank of England cut rates to 4pc but indicated it was becoming cautious about cutting rates further. He said: 'Slow to abate wage pressures may warrant caution from the Bank of England before cutting rates further. 'We anticipate unemployment to continue to trend upwards and improved labour supply to contribute to easing pay pressures throughout the remainder of 2025.' Today's ONS data shows that the wholesale, retail, hotels and restaurants sector posted the strongest annual regular growth rate (excluding bonuses), at 6.8%, in the April to June period. The finance and business services sector, which pay out more bonuses, had the lowest annual regular growth rate, at 3.1%. Average annual pay growth was 5.7% for the public sector, and 4.8% for the private sector. Yael Selfin, chief economist at KPMG UK, said the labour market outlook 'is uncertain' days after the Bank of England cut rates to 4pc but indicated it was becoming cautious about cutting rates further. He said: 'Slow to abate wage pressures may warrant caution from the Bank of England before cutting rates further. 'We anticipate unemployment to continue to trend upwards and improved labour supply to contribute to easing pay pressures throughout the remainder of 2025.' US and China extend 90-day tariff truce The US and China have extended their truce on trade tariffs for another 90 days. Trump had threatened tariffs on Chinese goods imports of up to 145% while Chinese duties on US goods were set to hit 125%. The rates for both countries were scaled back after a round of trade talks held in Geneva in May and the tariff pause was set to expire today at 12:01am EDT. The extension will now last until November and is a welcomed move by US retailers and consumers who can buy electronics at lower tariff rates ahead of Christmas. Donald Trump posted on his Truth Social platform that he signed the executive order for the extension, and that 'all other elements of the Agreement will remain the same'. Beijing's Commerce Ministry announced the extension of the tariff pause early on Tuesday. Trump's executive order stated: Meanwhile, a spokesperson for the Chinese embassy in Washington said: "Win-win cooperation between China and the United States is the right path; suppression and containment will lead nowhere." The US and China have extended their truce on trade tariffs for another 90 days. Trump had threatened tariffs on Chinese goods imports of up to 145% while Chinese duties on US goods were set to hit 125%. The rates for both countries were scaled back after a round of trade talks held in Geneva in May and the tariff pause was set to expire today at 12:01am EDT. The extension will now last until November and is a welcomed move by US retailers and consumers who can buy electronics at lower tariff rates ahead of Christmas. Donald Trump posted on his Truth Social platform that he signed the executive order for the extension, and that 'all other elements of the Agreement will remain the same'. Beijing's Commerce Ministry announced the extension of the tariff pause early on Tuesday. Trump's executive order stated: Meanwhile, a spokesperson for the Chinese embassy in Washington said: "Win-win cooperation between China and the United States is the right path; suppression and containment will lead nowhere." UK job market continues to weaken as vacancies fall The number of job vacancies and payrolled employees in the UK have continued to fall, according to the Office for National Statistics (ONS), adding to evidence of a cooling labour market. Data released on Tuesday showed that the number of job vacancies in the UK fell by 44,000 in the three months to July. The ONS said that this marked the 37th consecutive period where vacancy numbers have dropped compared to the previous three months and that vacancies had fallen in 16 of the 18 industry sectors. The ONS said feedback from its vacancy survey suggested some firms may not be recruiting new workers, or replacing workers who have left. The number of employees on the payroll in June was down by 26,000 on the month, which was more than a decline of 25,000 in May, but was smaller than a previously estimated fall of 41,000. Estimates for payrolled employees in the year to June fell by 149,000. Early estimates for the number of employees on the payroll in July fell by 8,000 on the month and 164,000 on the year. The unemployment rate was 4.7% from April to June, unchanged from the previous three months. Annual wage growth excluding bonuses was at 5% in April to June, which was also the same as the previous three months. Employers have faced higher labour costs after the rate of their national insurance contributions and the national minimum wage rose in early April, which were changes announced by chancellor Rachel Reeves in the autumn budget. Read more here The number of job vacancies and payrolled employees in the UK have continued to fall, according to the Office for National Statistics (ONS), adding to evidence of a cooling labour market. Data released on Tuesday showed that the number of job vacancies in the UK fell by 44,000 in the three months to July. The ONS said that this marked the 37th consecutive period where vacancy numbers have dropped compared to the previous three months and that vacancies had fallen in 16 of the 18 industry sectors. The ONS said feedback from its vacancy survey suggested some firms may not be recruiting new workers, or replacing workers who have left. The number of employees on the payroll in June was down by 26,000 on the month, which was more than a decline of 25,000 in May, but was smaller than a previously estimated fall of 41,000. Estimates for payrolled employees in the year to June fell by 149,000. Early estimates for the number of employees on the payroll in July fell by 8,000 on the month and 164,000 on the year. The unemployment rate was 4.7% from April to June, unchanged from the previous three months. Annual wage growth excluding bonuses was at 5% in April to June, which was also the same as the previous three months. Employers have faced higher labour costs after the rate of their national insurance contributions and the national minimum wage rose in early April, which were changes announced by chancellor Rachel Reeves in the autumn budget. Read more here Asia and US overnight Stocks in Asia were higher overnight, with the Japanese Nikkei (^N225) surging 2.2% on the day to a record high after the US and China extended their tariff truce. The Hang Seng (^HSI) rose 0.4% in Hong Kong. The Shanghai Composite ( was 0.5% up by the end of the session. The extension of a tariff truce between the world's two largest economies by another 90 days buoyed sentiment across Asia as it staved off triple-digit duties on Chinese exports to the United States. In South Korea, the Kospi (^KS11) lost 0.5% on the day. Meanwhile, Australian shares slightly extended gains while the currency was choppy after the Reserve Bank of Australia expectedly cut its main cash rate by a quarter point to a two-year low of 3.6%. Across the pond on Wall Street, the S&P 500 (^GSPC) dipped 0.25%, and the tech-heavy Nasdaq (^IXIC) was 0.3% down. The Dow Jones (^DJI) also slipped 0.5%, pulled down by energy, property and technology stocks. In the bond market, the yield on benchmark 10-year US Treasury notes edged up to 4.289% from 4.286% on Sunday. Stocks in Asia were higher overnight, with the Japanese Nikkei (^N225) surging 2.2% on the day to a record high after the US and China extended their tariff truce. The Hang Seng (^HSI) rose 0.4% in Hong Kong. The Shanghai Composite ( was 0.5% up by the end of the session. The extension of a tariff truce between the world's two largest economies by another 90 days buoyed sentiment across Asia as it staved off triple-digit duties on Chinese exports to the United States. In South Korea, the Kospi (^KS11) lost 0.5% on the day. Meanwhile, Australian shares slightly extended gains while the currency was choppy after the Reserve Bank of Australia expectedly cut its main cash rate by a quarter point to a two-year low of 3.6%. Across the pond on Wall Street, the S&P 500 (^GSPC) dipped 0.25%, and the tech-heavy Nasdaq (^IXIC) was 0.3% down. The Dow Jones (^DJI) also slipped 0.5%, pulled down by energy, property and technology stocks. In the bond market, the yield on benchmark 10-year US Treasury notes edged up to 4.289% from 4.286% on Sunday. Coming up Good morning, and welcome back to our markets live blog. As usual we will be taking a deep dive into what's moving markets and happening across the global economy. To the day ahead, in addition to the US July CPI report we will also get data on NFIB small business optimism, federal budget balance, UK June average weekly earnings, unemployment rate, July jobless claims change, Germany's August Zew survey and June's current account balance, the Eurozone's August Zew survey, and Canada's June building permits. Central bank speakers include Fed's Barkin. Lastly, notable earnings include CoreWeave and Circle Internet Group. Here's a snapshot of what's on the agenda: 7am: Trading updates: Bellway, Page Group, Derwent London, Entain, Spirax and Xaar, and S&U 10am: Germany/Eurozone ZEW economic survey 1.30pm: US inflation for July Good morning, and welcome back to our markets live blog. As usual we will be taking a deep dive into what's moving markets and happening across the global economy. To the day ahead, in addition to the US July CPI report we will also get data on NFIB small business optimism, federal budget balance, UK June average weekly earnings, unemployment rate, July jobless claims change, Germany's August Zew survey and June's current account balance, the Eurozone's August Zew survey, and Canada's June building permits. Central bank speakers include Fed's Barkin. Lastly, notable earnings include CoreWeave and Circle Internet Group. Here's a snapshot of what's on the agenda: 7am: Trading updates: Bellway, Page Group, Derwent London, Entain, Spirax and Xaar, and S&U 10am: Germany/Eurozone ZEW economic survey 1.30pm: US inflation for July Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Earnings live: Circle pops on higher revenue in first earnings report
Second quarter earnings season is winding down, and with most of the reports in, the results have been mostly positive. Data from FactSet published Friday showed that with 90% of the index having reported results, analysts expect S&P 500 companies to report an 11.8% jump in earnings per share during the second quarter. Companies had a lower expectation bar to clear coming into the quarter — analysts expected S&P 500 earnings to rise 5% in Q2, the slowest pace of earnings growth since Q4 2023 — amid President Trump's tariffs, stocks' lofty valuations, and uncertainty about the health of the US economy. Earnings this week include Circle (CRCL), AMC (AMC), Cava (CAVA), Cisco (CSCO), CoreWeave (CRWV), Deere (DE), On (ONON), and Oklo (OKLO). Here are the latest updates from corporate America. Trading platform eToro beats profit estimates (Reuters) - Stock and crypto trading platform eToro beat Wall Street views for profit in the second quarter on Tuesday, as retail investors maintained a firm risk appetite despite broader macroeconomic uncertainty due to new tariffs. Shares of eToro rose in premarket trading after results. Retail trading activity has been strong this year, buoyed by gains in U.S. equity markets and renewed interest in high-risk assets such as cryptocurrencies and tech stocks. Read more here. On stock jumps on sales beat Footwear company On Holding (ONON) stock gained 11% in premarket trading after beating second quarter sales estimates and raising its full-year sales guidance. Net sales increase by 38.2% year over year on a constant currency basis, with revenue coming in at 749 million Swiss francs. The company reported a diluted loss per share of CHF 0.12, a loss of around $0.15. In 2025, net sales are expected to be up at least 31% year over year on a constant currency basis. Previously, the company guided for sales to be up at least 28%. On also expanded its adjusted EBITDA margin to 17%-17.5% from 16.5%-17.5% previously. Circle revenue jumps in first results since blockbuster IPO (Reuters) - Circle (CRCL) posted higher revenue and reserve income on Tuesday in its maiden quarterly results since going public in June, driven by increased circulation of its USDC stablecoin and stronger subscription services. Shares rose more than 7% in premarket trading, solidifying the rally that has pushed the company's stock to more than five times its initial public offering price. Read more here. Smithfield Foods lifts profit outlook after strong sales Smithfield Foods Inc. (SFD), stock fell 2% before the bell despite raising its profit expectations following a strong second-quarter. The largest pork producer in the US cited challenges stemming from tariffs imposed by President Trump on some of the biggest importers of the meat. Bloomberg News reports: Read more here. Tencent Music beats quarterly revenue estimates Reuters reports: Tencent Music Entertainment (TME) surpassed second-quarter revenue expectations on Tuesday, driven by stronger subscriber growth and rising engagement with long-form audio content such as podcasts and audiobooks. The company's New York stock rose 3% before the bell on Tuesday. Read more here. Oklo stock has rallied 230% this year, but it's slipping on Q2 results Shares of nuclear energy company Oklo (OKLO) fell after the closing bell on Monday as second quarter results failed to meet Wall Street's lofty expectations. The advanced fission company reported a net loss of $34.5 million in Q2, or $0.18 per share, compared to a loss of $0.27 per share during the same period last year. All the same, Wall Street analysts were hoping for an $0.11 per share loss. Oklo stock went into earnings as an outperformer. Year to date, shares are up 238%, compared to an 8% rise in the S&P 500 (^GSPC), as several tailwinds have fueled the stock's rise. These include President Trump's executive orders supportive of the nuclear industry, a wave of demand for artificial intelligence and data centers, and several deals Oklo inked during the year. stock sells off as losses accelerate (BBAI) stock tumbled 20% after the company reported a wide earnings and revenue miss and lowered its revenue guidance. Here's what the AI software firm reported compared to estimates, according to S&P Global Market Intelligence: BigBear, which provides software to the US government, noted that Department of Government Efficiency (DOGE) cuts weighed on the business. 'While we are very optimistic with ... growth opportunities, we have also seen disruptions in federal contracts from efficiency efforts this quarter, most notably in programs that support the U.S. Army, as they seek to consolidate and modernize their data architecture and in turn, we have adjusted our full-year guidance this quarter to reflect these disruptions,' CEO Kevin McAleenan said in the earnings release. Listen to earnings call live on the stock page. Plug Power stock falls on earnings miss Primary hydrogen player Plug Power (PLUG) continues to grow its top line, but a larger-than-expected loss disappointed in the second quarter. Plug Power reported a $0.20 loss per share, a wider loss than the $0.15 per share Wall Street expected, according to S&P Global Market Intelligence. The company posted $174 million in revenue, a 21% increase year over year, above estimates for $157 million, and on the high end of its previous forecast for between $140 million and $180 million in Q2 revenue. The company's gross margin remained negative at -31%, though it marked an improvement from the -92% margin in the same quarter a year ago. Plug Power said it expects to achieve breakeven in its gross margin run rate in Q4 2025. Plug also held $140 million in unrestricted cash and cash equivalents at the end of the quarter. The stock fell more than 5% in after-hours trading. Year to date, the stock is down 25%, though investors grew more bullish on the stock in July following the passage of the One Big Beautiful Bill Act, which Plug Power called "a major policy win." The tax and spending law extended the hydrogen production tax credit, providing a 30% credit on fuel cell purchases and more certainty to the industry. Listen to the earnings call live here. stock falls 24% on sales miss, CEO health struggles Inc. (AI) stock tumbled as much as 30% after the software company reported a steep sales miss that it attributed to its founder's health issues. Bloomberg reports: Read more here. Micron raises forecast, stock pops Micron Technology (MU) stock rose around 4% in early trading on Monday after the semiconductor company raised its forecast for fourth-quarter revenue and adjusted profit, citing surging demand for its memory chips used in artificial intelligence infrastructure. Micron is expected to reported fiscal fourth quarter earnings on Sept. 24. Read more here. AMC tops revenue estimates as blockbuster titles boost theater attendance AMC (AMC) stock jumped 8.8% in premarket trading after the movie theater chain reported attendance in the second quarter grew nearly 26% as blockbusters drew in moviegoers. The company also reported a narrower-than-expected loss per share of $0.01, compared to estimates of a loss of $0.06 per share. Reuters reports: Read more here. stock tanks following earnings (MNDY) stock fell as much as 20% after the project management software company missed earnings estimates. In the second quarter, reported earnings of $0.03 per share and revenue of $299 million. While revenue beat analyst expectations of $293 million, GAAP profits fell short, as Wall Street was looking for $0.20 per share, per S&P Global Market Intelligence. Investors have been looking for signs that economic uncertainty is pushing companies to pull back their spending on technology and software. The Israeli-based company's operating loss fell to $11.6 million from $1.8 million a year ago, and the operating margin fell to negative 4% from 1% last year. kept its full-year forecast roughly the same. It expects total revenue to grow about 26% to a range of $1.224 billion to $1.229 billion in 2025. 'This quarter demonstrated our relentless focus on driving highly efficient growth at scale, and I'm energized by the momentum in our business and the opportunities we see ahead,' CFO Eliran Glazer said in the earnings release. 'As we navigate the shifting landscape, we remain focused on the factors we can control — executing on our innovation roadmap, bolstering our go-to-market efforts to serve customers of all sizes, driving best-in-class operational efficiencies, and delivering products people love.' Earnings have been mostly solid According to FactSet's tally, 90% of S&P 500 companies have reported second quarter earnings so far, meaning the end of earnings season is in sight (though certainly not complete until Nvidia's (NVDA) report on Aug. 27). It's been a good earnings season: More than 8 in 10 companies have reported both a positive earnings per share surprise and a positive revenue surprise. Some other key updates from FactSet's senior earnings analyst John Butters: Read more here. Wendy's gloomy 2025 outlook sends shares lower Wendy's beat Wall Street's estimates on the top and bottom lines on Friday; however, the company issued a weaker full-year financial outlook, sending shares about 1% lower in premarket trading. This year, the company sees adjusted earnings per share in a range of $0.82 to $0.89, lower than its previous forecast of $0.92 to $0.98. Global systemwide sales are also now projected to come in lower than previously expected for a decline of 3% to 5%, compared to the previous outlook of flat sales to a 2% decline. In the second quarter, sales decreased 1.8% to $3.7 billion, led by a 3.3% decline in the US market. The fast food chain reported revenue of $560.9 million, topping estimates of $558 million. Earnings per share were $0.29, also a beat against estimates of $0.25 per share. On Wednesday, McDonald's (MCD) reported a return to sales growth after economic uncertainty and inflation weighed on consumers and eroded the restaurant chain's value perception. Listen to the earnings call live here. Trade Desk tumbles after CEO warns of tariff impact on large brand advertisers Trade Desk (TTD) stock fell by a third during premarket trading on Friday — putting it on track to wipe roughly $12 billion from its market cap — after CEO Jeff Green warned that tariff uncertainty began to weigh on some leading global advertisers. Reuters reports: The Trade Desk's second quarter earnings of $0.18 per share were in line with analyst estimates. Revenue of $694 million beat analyst estimates of $686 million, according to S&P Global Market Intelligence. The company expects third quarter revenue of at least $717 million, roughly in line with estimates. Read more here. SoundHound stock soars on record revenue fueled by AI, automation demand SoundHound AI (SOUN) reported record revenue in its second quarter results, as its expansion into new verticals, such as restaurants and hospitals, helped fuel 217% year-over-year revenue growth. The stock rocketed 24% higher in premarket trading on Friday. SoundHound develops artificial intelligence solutions that businesses use for automation and to create conversational experiences for their customers. In Q2, SoundHound reported strong growth in its automation, automotive, and enterprise AI for customer service verticals. The company posted a GAAP loss of $0.19 per share on $42.7 million in revenue. Last year, SoundHound reported a loss of $0.11 per share and revenue of $13 million. SoundHound also raised its 2025 revenue outlook to $160 million to $178 million, up from its previous forecast of $157 million to $177 million. "The investments we are making are already showing high returns," SoundHound CFO Nitesh Sharan said on the company's earnings call. Sharan noted that the company sees a path to profitability "in the near-term horizon. Listen to the earnings call here. Under Armour forecasts downbeat quarterly sales, shares drop Under Armour (UA) stock slumped by 12% before the bell on Friday after the sportswear maker forecast second-quarter revenue below Wall Street estimates. The company is grappling with muted demand in North America due to still-high inflation and tariff uncertainty. Reuters reports: Read more here. Expedia raises gross bookings, revenue growth forecast amid US travel demand recovery Expedia Group (EXPE) stock leaped 15% higher in after-hours trading as Wall Street looked favorably on signs of a travel demand recovery, a raised gross bookings forecast, and double-digit profit growth. Reuters reports: Read more here. Live Nation results show fans still spending on concerts, live events Live Nation Entertainment (LYV) stock rose modestly after hours following second quarter results from the discretionary spending economic bellwether. The release showed that fans are still willing to spend on concerts and live events. Reuters reports: Read more here. Gamblers' losses boost sportsbooks' fortunes in Q2 FanDuel-owner Flutter (FLUT) raised its forecast for full-year profit growth on Thursday after a winning streak for US gamblers ended, benefiting the world's largest online betting company. A better-than-expected second quarter yielded core profits of $400 million, a 54% rise. Revenue came in at $4.19 billion, above estimates and up from $3.61 billion a year ago. Flutter increased its annual profit forecast to $3.3 billion from $3.18 billion, projecting 40% year-over-year growth. The company is looking into the regulatory landscape for prediction markets and considering an entry into that market, which allows users to bet on the outcomes of future events. Earlier on Thursday, DraftKings (DKNG) also attributed healthy revenue growth to favorable outcomes. Revenue increased 36% to $1.5 billion, while profits were $0.30 per share, double what Wall Street was expecting at $0.15 per share. Flutter stock rose fractionally after hours. DraftKings shares were also muted, falling 0.35% on the day and another 0.2% after hours. Read more here. Trading platform eToro beats profit estimates (Reuters) - Stock and crypto trading platform eToro beat Wall Street views for profit in the second quarter on Tuesday, as retail investors maintained a firm risk appetite despite broader macroeconomic uncertainty due to new tariffs. Shares of eToro rose in premarket trading after results. Retail trading activity has been strong this year, buoyed by gains in U.S. equity markets and renewed interest in high-risk assets such as cryptocurrencies and tech stocks. Read more here. (Reuters) - Stock and crypto trading platform eToro beat Wall Street views for profit in the second quarter on Tuesday, as retail investors maintained a firm risk appetite despite broader macroeconomic uncertainty due to new tariffs. Shares of eToro rose in premarket trading after results. Retail trading activity has been strong this year, buoyed by gains in U.S. equity markets and renewed interest in high-risk assets such as cryptocurrencies and tech stocks. Read more here. On stock jumps on sales beat Footwear company On Holding (ONON) stock gained 11% in premarket trading after beating second quarter sales estimates and raising its full-year sales guidance. Net sales increase by 38.2% year over year on a constant currency basis, with revenue coming in at 749 million Swiss francs. The company reported a diluted loss per share of CHF 0.12, a loss of around $0.15. In 2025, net sales are expected to be up at least 31% year over year on a constant currency basis. Previously, the company guided for sales to be up at least 28%. On also expanded its adjusted EBITDA margin to 17%-17.5% from 16.5%-17.5% previously. Footwear company On Holding (ONON) stock gained 11% in premarket trading after beating second quarter sales estimates and raising its full-year sales guidance. Net sales increase by 38.2% year over year on a constant currency basis, with revenue coming in at 749 million Swiss francs. The company reported a diluted loss per share of CHF 0.12, a loss of around $0.15. In 2025, net sales are expected to be up at least 31% year over year on a constant currency basis. Previously, the company guided for sales to be up at least 28%. On also expanded its adjusted EBITDA margin to 17%-17.5% from 16.5%-17.5% previously. Circle revenue jumps in first results since blockbuster IPO (Reuters) - Circle (CRCL) posted higher revenue and reserve income on Tuesday in its maiden quarterly results since going public in June, driven by increased circulation of its USDC stablecoin and stronger subscription services. Shares rose more than 7% in premarket trading, solidifying the rally that has pushed the company's stock to more than five times its initial public offering price. Read more here. (Reuters) - Circle (CRCL) posted higher revenue and reserve income on Tuesday in its maiden quarterly results since going public in June, driven by increased circulation of its USDC stablecoin and stronger subscription services. Shares rose more than 7% in premarket trading, solidifying the rally that has pushed the company's stock to more than five times its initial public offering price. Read more here. Smithfield Foods lifts profit outlook after strong sales Smithfield Foods Inc. (SFD), stock fell 2% before the bell despite raising its profit expectations following a strong second-quarter. The largest pork producer in the US cited challenges stemming from tariffs imposed by President Trump on some of the biggest importers of the meat. Bloomberg News reports: Read more here. Smithfield Foods Inc. (SFD), stock fell 2% before the bell despite raising its profit expectations following a strong second-quarter. The largest pork producer in the US cited challenges stemming from tariffs imposed by President Trump on some of the biggest importers of the meat. Bloomberg News reports: Read more here. Tencent Music beats quarterly revenue estimates Reuters reports: Tencent Music Entertainment (TME) surpassed second-quarter revenue expectations on Tuesday, driven by stronger subscriber growth and rising engagement with long-form audio content such as podcasts and audiobooks. The company's New York stock rose 3% before the bell on Tuesday. Read more here. Reuters reports: Tencent Music Entertainment (TME) surpassed second-quarter revenue expectations on Tuesday, driven by stronger subscriber growth and rising engagement with long-form audio content such as podcasts and audiobooks. The company's New York stock rose 3% before the bell on Tuesday. Read more here. Oklo stock has rallied 230% this year, but it's slipping on Q2 results Shares of nuclear energy company Oklo (OKLO) fell after the closing bell on Monday as second quarter results failed to meet Wall Street's lofty expectations. The advanced fission company reported a net loss of $34.5 million in Q2, or $0.18 per share, compared to a loss of $0.27 per share during the same period last year. All the same, Wall Street analysts were hoping for an $0.11 per share loss. Oklo stock went into earnings as an outperformer. Year to date, shares are up 238%, compared to an 8% rise in the S&P 500 (^GSPC), as several tailwinds have fueled the stock's rise. These include President Trump's executive orders supportive of the nuclear industry, a wave of demand for artificial intelligence and data centers, and several deals Oklo inked during the year. Shares of nuclear energy company Oklo (OKLO) fell after the closing bell on Monday as second quarter results failed to meet Wall Street's lofty expectations. The advanced fission company reported a net loss of $34.5 million in Q2, or $0.18 per share, compared to a loss of $0.27 per share during the same period last year. All the same, Wall Street analysts were hoping for an $0.11 per share loss. Oklo stock went into earnings as an outperformer. Year to date, shares are up 238%, compared to an 8% rise in the S&P 500 (^GSPC), as several tailwinds have fueled the stock's rise. These include President Trump's executive orders supportive of the nuclear industry, a wave of demand for artificial intelligence and data centers, and several deals Oklo inked during the year. stock sells off as losses accelerate (BBAI) stock tumbled 20% after the company reported a wide earnings and revenue miss and lowered its revenue guidance. Here's what the AI software firm reported compared to estimates, according to S&P Global Market Intelligence: BigBear, which provides software to the US government, noted that Department of Government Efficiency (DOGE) cuts weighed on the business. 'While we are very optimistic with ... growth opportunities, we have also seen disruptions in federal contracts from efficiency efforts this quarter, most notably in programs that support the U.S. Army, as they seek to consolidate and modernize their data architecture and in turn, we have adjusted our full-year guidance this quarter to reflect these disruptions,' CEO Kevin McAleenan said in the earnings release. Listen to earnings call live on the stock page. (BBAI) stock tumbled 20% after the company reported a wide earnings and revenue miss and lowered its revenue guidance. Here's what the AI software firm reported compared to estimates, according to S&P Global Market Intelligence: BigBear, which provides software to the US government, noted that Department of Government Efficiency (DOGE) cuts weighed on the business. 'While we are very optimistic with ... growth opportunities, we have also seen disruptions in federal contracts from efficiency efforts this quarter, most notably in programs that support the U.S. Army, as they seek to consolidate and modernize their data architecture and in turn, we have adjusted our full-year guidance this quarter to reflect these disruptions,' CEO Kevin McAleenan said in the earnings release. Listen to earnings call live on the stock page. Plug Power stock falls on earnings miss Primary hydrogen player Plug Power (PLUG) continues to grow its top line, but a larger-than-expected loss disappointed in the second quarter. Plug Power reported a $0.20 loss per share, a wider loss than the $0.15 per share Wall Street expected, according to S&P Global Market Intelligence. The company posted $174 million in revenue, a 21% increase year over year, above estimates for $157 million, and on the high end of its previous forecast for between $140 million and $180 million in Q2 revenue. The company's gross margin remained negative at -31%, though it marked an improvement from the -92% margin in the same quarter a year ago. Plug Power said it expects to achieve breakeven in its gross margin run rate in Q4 2025. Plug also held $140 million in unrestricted cash and cash equivalents at the end of the quarter. The stock fell more than 5% in after-hours trading. Year to date, the stock is down 25%, though investors grew more bullish on the stock in July following the passage of the One Big Beautiful Bill Act, which Plug Power called "a major policy win." The tax and spending law extended the hydrogen production tax credit, providing a 30% credit on fuel cell purchases and more certainty to the industry. Listen to the earnings call live here. Primary hydrogen player Plug Power (PLUG) continues to grow its top line, but a larger-than-expected loss disappointed in the second quarter. Plug Power reported a $0.20 loss per share, a wider loss than the $0.15 per share Wall Street expected, according to S&P Global Market Intelligence. The company posted $174 million in revenue, a 21% increase year over year, above estimates for $157 million, and on the high end of its previous forecast for between $140 million and $180 million in Q2 revenue. The company's gross margin remained negative at -31%, though it marked an improvement from the -92% margin in the same quarter a year ago. Plug Power said it expects to achieve breakeven in its gross margin run rate in Q4 2025. Plug also held $140 million in unrestricted cash and cash equivalents at the end of the quarter. The stock fell more than 5% in after-hours trading. Year to date, the stock is down 25%, though investors grew more bullish on the stock in July following the passage of the One Big Beautiful Bill Act, which Plug Power called "a major policy win." The tax and spending law extended the hydrogen production tax credit, providing a 30% credit on fuel cell purchases and more certainty to the industry. Listen to the earnings call live here. stock falls 24% on sales miss, CEO health struggles Inc. (AI) stock tumbled as much as 30% after the software company reported a steep sales miss that it attributed to its founder's health issues. Bloomberg reports: Read more here. Inc. (AI) stock tumbled as much as 30% after the software company reported a steep sales miss that it attributed to its founder's health issues. Bloomberg reports: Read more here. Micron raises forecast, stock pops Micron Technology (MU) stock rose around 4% in early trading on Monday after the semiconductor company raised its forecast for fourth-quarter revenue and adjusted profit, citing surging demand for its memory chips used in artificial intelligence infrastructure. Micron is expected to reported fiscal fourth quarter earnings on Sept. 24. Read more here. Micron Technology (MU) stock rose around 4% in early trading on Monday after the semiconductor company raised its forecast for fourth-quarter revenue and adjusted profit, citing surging demand for its memory chips used in artificial intelligence infrastructure. Micron is expected to reported fiscal fourth quarter earnings on Sept. 24. Read more here. AMC tops revenue estimates as blockbuster titles boost theater attendance AMC (AMC) stock jumped 8.8% in premarket trading after the movie theater chain reported attendance in the second quarter grew nearly 26% as blockbusters drew in moviegoers. The company also reported a narrower-than-expected loss per share of $0.01, compared to estimates of a loss of $0.06 per share. Reuters reports: Read more here. AMC (AMC) stock jumped 8.8% in premarket trading after the movie theater chain reported attendance in the second quarter grew nearly 26% as blockbusters drew in moviegoers. The company also reported a narrower-than-expected loss per share of $0.01, compared to estimates of a loss of $0.06 per share. Reuters reports: Read more here. stock tanks following earnings (MNDY) stock fell as much as 20% after the project management software company missed earnings estimates. In the second quarter, reported earnings of $0.03 per share and revenue of $299 million. While revenue beat analyst expectations of $293 million, GAAP profits fell short, as Wall Street was looking for $0.20 per share, per S&P Global Market Intelligence. Investors have been looking for signs that economic uncertainty is pushing companies to pull back their spending on technology and software. The Israeli-based company's operating loss fell to $11.6 million from $1.8 million a year ago, and the operating margin fell to negative 4% from 1% last year. kept its full-year forecast roughly the same. It expects total revenue to grow about 26% to a range of $1.224 billion to $1.229 billion in 2025. 'This quarter demonstrated our relentless focus on driving highly efficient growth at scale, and I'm energized by the momentum in our business and the opportunities we see ahead,' CFO Eliran Glazer said in the earnings release. 'As we navigate the shifting landscape, we remain focused on the factors we can control — executing on our innovation roadmap, bolstering our go-to-market efforts to serve customers of all sizes, driving best-in-class operational efficiencies, and delivering products people love.' (MNDY) stock fell as much as 20% after the project management software company missed earnings estimates. In the second quarter, reported earnings of $0.03 per share and revenue of $299 million. While revenue beat analyst expectations of $293 million, GAAP profits fell short, as Wall Street was looking for $0.20 per share, per S&P Global Market Intelligence. Investors have been looking for signs that economic uncertainty is pushing companies to pull back their spending on technology and software. The Israeli-based company's operating loss fell to $11.6 million from $1.8 million a year ago, and the operating margin fell to negative 4% from 1% last year. kept its full-year forecast roughly the same. It expects total revenue to grow about 26% to a range of $1.224 billion to $1.229 billion in 2025. 'This quarter demonstrated our relentless focus on driving highly efficient growth at scale, and I'm energized by the momentum in our business and the opportunities we see ahead,' CFO Eliran Glazer said in the earnings release. 'As we navigate the shifting landscape, we remain focused on the factors we can control — executing on our innovation roadmap, bolstering our go-to-market efforts to serve customers of all sizes, driving best-in-class operational efficiencies, and delivering products people love.' Earnings have been mostly solid According to FactSet's tally, 90% of S&P 500 companies have reported second quarter earnings so far, meaning the end of earnings season is in sight (though certainly not complete until Nvidia's (NVDA) report on Aug. 27). It's been a good earnings season: More than 8 in 10 companies have reported both a positive earnings per share surprise and a positive revenue surprise. Some other key updates from FactSet's senior earnings analyst John Butters: Read more here. According to FactSet's tally, 90% of S&P 500 companies have reported second quarter earnings so far, meaning the end of earnings season is in sight (though certainly not complete until Nvidia's (NVDA) report on Aug. 27). It's been a good earnings season: More than 8 in 10 companies have reported both a positive earnings per share surprise and a positive revenue surprise. Some other key updates from FactSet's senior earnings analyst John Butters: Read more here. Wendy's gloomy 2025 outlook sends shares lower Wendy's beat Wall Street's estimates on the top and bottom lines on Friday; however, the company issued a weaker full-year financial outlook, sending shares about 1% lower in premarket trading. This year, the company sees adjusted earnings per share in a range of $0.82 to $0.89, lower than its previous forecast of $0.92 to $0.98. Global systemwide sales are also now projected to come in lower than previously expected for a decline of 3% to 5%, compared to the previous outlook of flat sales to a 2% decline. In the second quarter, sales decreased 1.8% to $3.7 billion, led by a 3.3% decline in the US market. The fast food chain reported revenue of $560.9 million, topping estimates of $558 million. Earnings per share were $0.29, also a beat against estimates of $0.25 per share. On Wednesday, McDonald's (MCD) reported a return to sales growth after economic uncertainty and inflation weighed on consumers and eroded the restaurant chain's value perception. Listen to the earnings call live here. Wendy's beat Wall Street's estimates on the top and bottom lines on Friday; however, the company issued a weaker full-year financial outlook, sending shares about 1% lower in premarket trading. This year, the company sees adjusted earnings per share in a range of $0.82 to $0.89, lower than its previous forecast of $0.92 to $0.98. Global systemwide sales are also now projected to come in lower than previously expected for a decline of 3% to 5%, compared to the previous outlook of flat sales to a 2% decline. In the second quarter, sales decreased 1.8% to $3.7 billion, led by a 3.3% decline in the US market. The fast food chain reported revenue of $560.9 million, topping estimates of $558 million. Earnings per share were $0.29, also a beat against estimates of $0.25 per share. On Wednesday, McDonald's (MCD) reported a return to sales growth after economic uncertainty and inflation weighed on consumers and eroded the restaurant chain's value perception. Listen to the earnings call live here. Trade Desk tumbles after CEO warns of tariff impact on large brand advertisers Trade Desk (TTD) stock fell by a third during premarket trading on Friday — putting it on track to wipe roughly $12 billion from its market cap — after CEO Jeff Green warned that tariff uncertainty began to weigh on some leading global advertisers. Reuters reports: The Trade Desk's second quarter earnings of $0.18 per share were in line with analyst estimates. Revenue of $694 million beat analyst estimates of $686 million, according to S&P Global Market Intelligence. The company expects third quarter revenue of at least $717 million, roughly in line with estimates. Read more here. Trade Desk (TTD) stock fell by a third during premarket trading on Friday — putting it on track to wipe roughly $12 billion from its market cap — after CEO Jeff Green warned that tariff uncertainty began to weigh on some leading global advertisers. Reuters reports: The Trade Desk's second quarter earnings of $0.18 per share were in line with analyst estimates. Revenue of $694 million beat analyst estimates of $686 million, according to S&P Global Market Intelligence. The company expects third quarter revenue of at least $717 million, roughly in line with estimates. Read more here. SoundHound stock soars on record revenue fueled by AI, automation demand SoundHound AI (SOUN) reported record revenue in its second quarter results, as its expansion into new verticals, such as restaurants and hospitals, helped fuel 217% year-over-year revenue growth. The stock rocketed 24% higher in premarket trading on Friday. SoundHound develops artificial intelligence solutions that businesses use for automation and to create conversational experiences for their customers. In Q2, SoundHound reported strong growth in its automation, automotive, and enterprise AI for customer service verticals. The company posted a GAAP loss of $0.19 per share on $42.7 million in revenue. Last year, SoundHound reported a loss of $0.11 per share and revenue of $13 million. SoundHound also raised its 2025 revenue outlook to $160 million to $178 million, up from its previous forecast of $157 million to $177 million. "The investments we are making are already showing high returns," SoundHound CFO Nitesh Sharan said on the company's earnings call. Sharan noted that the company sees a path to profitability "in the near-term horizon. Listen to the earnings call here. SoundHound AI (SOUN) reported record revenue in its second quarter results, as its expansion into new verticals, such as restaurants and hospitals, helped fuel 217% year-over-year revenue growth. The stock rocketed 24% higher in premarket trading on Friday. SoundHound develops artificial intelligence solutions that businesses use for automation and to create conversational experiences for their customers. In Q2, SoundHound reported strong growth in its automation, automotive, and enterprise AI for customer service verticals. The company posted a GAAP loss of $0.19 per share on $42.7 million in revenue. Last year, SoundHound reported a loss of $0.11 per share and revenue of $13 million. SoundHound also raised its 2025 revenue outlook to $160 million to $178 million, up from its previous forecast of $157 million to $177 million. "The investments we are making are already showing high returns," SoundHound CFO Nitesh Sharan said on the company's earnings call. Sharan noted that the company sees a path to profitability "in the near-term horizon. Listen to the earnings call here. Under Armour forecasts downbeat quarterly sales, shares drop Under Armour (UA) stock slumped by 12% before the bell on Friday after the sportswear maker forecast second-quarter revenue below Wall Street estimates. The company is grappling with muted demand in North America due to still-high inflation and tariff uncertainty. Reuters reports: Read more here. Under Armour (UA) stock slumped by 12% before the bell on Friday after the sportswear maker forecast second-quarter revenue below Wall Street estimates. The company is grappling with muted demand in North America due to still-high inflation and tariff uncertainty. Reuters reports: Read more here. Expedia raises gross bookings, revenue growth forecast amid US travel demand recovery Expedia Group (EXPE) stock leaped 15% higher in after-hours trading as Wall Street looked favorably on signs of a travel demand recovery, a raised gross bookings forecast, and double-digit profit growth. Reuters reports: Read more here. Expedia Group (EXPE) stock leaped 15% higher in after-hours trading as Wall Street looked favorably on signs of a travel demand recovery, a raised gross bookings forecast, and double-digit profit growth. Reuters reports: Read more here. Live Nation results show fans still spending on concerts, live events Live Nation Entertainment (LYV) stock rose modestly after hours following second quarter results from the discretionary spending economic bellwether. The release showed that fans are still willing to spend on concerts and live events. Reuters reports: Read more here. Live Nation Entertainment (LYV) stock rose modestly after hours following second quarter results from the discretionary spending economic bellwether. The release showed that fans are still willing to spend on concerts and live events. Reuters reports: Read more here. Gamblers' losses boost sportsbooks' fortunes in Q2 FanDuel-owner Flutter (FLUT) raised its forecast for full-year profit growth on Thursday after a winning streak for US gamblers ended, benefiting the world's largest online betting company. A better-than-expected second quarter yielded core profits of $400 million, a 54% rise. Revenue came in at $4.19 billion, above estimates and up from $3.61 billion a year ago. Flutter increased its annual profit forecast to $3.3 billion from $3.18 billion, projecting 40% year-over-year growth. The company is looking into the regulatory landscape for prediction markets and considering an entry into that market, which allows users to bet on the outcomes of future events. Earlier on Thursday, DraftKings (DKNG) also attributed healthy revenue growth to favorable outcomes. Revenue increased 36% to $1.5 billion, while profits were $0.30 per share, double what Wall Street was expecting at $0.15 per share. Flutter stock rose fractionally after hours. DraftKings shares were also muted, falling 0.35% on the day and another 0.2% after hours. Read more here. FanDuel-owner Flutter (FLUT) raised its forecast for full-year profit growth on Thursday after a winning streak for US gamblers ended, benefiting the world's largest online betting company. A better-than-expected second quarter yielded core profits of $400 million, a 54% rise. Revenue came in at $4.19 billion, above estimates and up from $3.61 billion a year ago. Flutter increased its annual profit forecast to $3.3 billion from $3.18 billion, projecting 40% year-over-year growth. The company is looking into the regulatory landscape for prediction markets and considering an entry into that market, which allows users to bet on the outcomes of future events. Earlier on Thursday, DraftKings (DKNG) also attributed healthy revenue growth to favorable outcomes. Revenue increased 36% to $1.5 billion, while profits were $0.30 per share, double what Wall Street was expecting at $0.15 per share. Flutter stock rose fractionally after hours. DraftKings shares were also muted, falling 0.35% on the day and another 0.2% after hours. Read more here. Sign in to access your portfolio
