Latest news with #AatreyeeDasgupta
The Star
4 days ago
- Business
- The Star
Axon raises annual revenue forecast on strong security demand
The headquarters for Axon Enterprise Inc, formerly Taser International, is seen in Scottsdale, Aizona, U.S., May 17, 2017. REUTERS/Ricardo Arduengo/File Photo (Reuters) -TASER maker Axon Enterprise raised its full-year revenue forecast on Monday, betting on continued demand for its software products and security devices. Shares of Axon were up 3.5% in aftermarket trading. The Arizona-based company — known for its law enforcement technology, including TASER energy weapons, body-worn cameras, and digital evidence management systems — has benefited from rising corporate spending on executive security and increased federal investment in immigration enforcement. Axon now expects 2025 revenue to be between $2.65 billion and $2.73 billion, up from its earlier forecast of $2.60 billion to $2.70 billion. Analysts on average expect $2.66 billion, according to data compiled by LSEG. For the quarter ended June 30, Axon reported adjusted earnings of $2.12 per share, well above analysts' average estimate of $1.46. Quarterly revenue came in at $668.54 million, compared with expectations of $631.56 million. (Reporting by Aatreyee Dasgupta and Anshuman Tripathy in Bengaluru; Editing by Tasim Zahid)
Mint
5 days ago
- Business
- Mint
HNI Corp to buy office furniture maker Steelcase for $2.2 billion; bets on return-to-office move of companies
HNI has agreed to buy office furniture maker Steelcase in a deal worth about $2.2 billion, it said on Monday, as it looks to capitalize on more companies asking employees to return to office. HNI's shares fell 25% and Steelcase's rose 45% in premarket trading. Steelcase's shareholders will get $7.20 in cash and 0.2192 shares of HNI common stock for each share they own. This values Steelcase at about $18.30 per share, representing a premium of nearly 80% to Friday's close, according to Reuters calculations. The Muscatine, Iowa-based HNI makes workplace furnishings and residential building products. Its acquisition of Steelcase comes at a time when "in-office work trends accelerate," HNI's CEO Jeffrey Lorenger said. After the pandemic-era work-from-home policies, more companies have been asking their employees to return to their offices to work, buoying demand for in-office accessories and infrastructure. The two firms' geographic footprints and dealer networks are complementary, which will allow the combined company to serve small- and medium-sized businesses and larger corporates, and the healthcare and education end markets, HNI said. HNI expects pro forma annual revenue of the combined business at about $5.8 billion and annual run-rate synergies of $120 million. The Grand Rapids, Michigan-based Steelcase has dealers and retailers in 790 locations across the Americas, EMEA and Asia Pacific. In 2024, it recorded annual revenue of $3.2 billion and net income of $81.1 million. Upon the transaction's closing, expected by the end of 2025, HNI shareholders will own about 64% of the combined company and Steelcase shareholders will own the rest. J.P. Morgan Securities is serving as exclusive financial adviser to HNI. Goldman Sachs & Co and BofA Securities are serving as financial advisers to Steelcase. (Reporting by Aatreyee Dasgupta in Bengaluru; Editing by Sahal Muhammed)
The Star
08-05-2025
- Business
- The Star
TASER maker Axon raises annual revenue forecast, shares jump
People gathers at the Axon booth on the exhibit floor during the annual International Association of Chiefs of Police (IACP) conference in San Diego, California, U.S.,October 16, 2023. REUTERS/Mike Blake (Reuters) -TASER maker Axon Enterprise raised its full-year revenue forecast on Wednesday, banking on sustained demand for its software products and security devices, sending its shares up more than 7% after the bell. The Arizona-based company makes law enforcement technology such as body cameras, drones and sensors. Axon expects 2025 revenue to be between $2.60 billion and $2.70 billion, compared with its prior range of $2.55 billion to $2.65 billion. Analysts on average estimate of $2.62 billion, according to data compiled by LSEG. The company is the leading maker of police body cameras in the U.S. and supplies drones to law enforcement authorities across North America, Europe and Australia. Capital expenditure for the year is expected to be in the range of $160 million to $180 million, excluding costs related to investments in a new headquarters, the company said. On an adjusted basis, Axon earned $1.41 per share for the first quarter ended March 31, while analysts estimated $1.27 per share. Its quarterly revenue was $603.6 million, compared with the estimate of $583.8 million. (Reporting by Aatreyee Dasgupta and Abhinav Parmar in Bengaluru; Editing by Shilpi Majumdar)
Yahoo
07-05-2025
- Business
- Yahoo
TASER maker Axon raises annual revenue forecast, shares jump
(Reuters) -TASER maker Axon Enterprise raised its full-year revenue forecast on Wednesday, banking on sustained demand for its software products and security devices, sending its shares up more than 7% after the bell. The Arizona-based company makes law enforcement technology such as body cameras, drones and sensors. Axon expects 2025 revenue to be between $2.60 billion and $2.70 billion, compared with its prior range of $2.55 billion to $2.65 billion. Analysts on average estimate of $2.62 billion, according to data compiled by LSEG. The company is the leading maker of police body cameras in the U.S. and supplies drones to law enforcement authorities across North America, Europe and Australia. Capital expenditure for the year is expected to be in the range of $160 million to $180 million, excluding costs related to investments in a new headquarters, the company said. On an adjusted basis, Axon earned $1.41 per share for the first quarter ended March 31, while analysts estimated $1.27 per share. Its quarterly revenue was $603.6 million, compared with the estimate of $583.8 million. (Reporting by Aatreyee Dasgupta and Abhinav Parmar in Bengaluru; Editing by Shilpi Majumdar)
Yahoo
29-04-2025
- Business
- Yahoo
Sabre to cut debt with $1.1 billion sale of hospitality software to TPG, shares jump
By Aatreyee Dasgupta (Reuters) -Sabre Corp said on Monday it will sell its hospitality software platform to asset manager TPG for $1.1 billion and use the cash to pare its debt, lifting the travel technology provider's shares nearly 26% in early trading. The stock is now up 13.5%. The company had a market capitalization of $845 million as of last close, according to data compiled by LSEG. In contrast, its total debt stood at about $4.5 billion, net of cash, as of the end of December, according to its annual filing. Sabre has made several moves to pare its debt, including a refinancing in December and the repayment of debt maturities earlier this month, the company said. Monday's deal comes a month after Reuters reported that Sabre was exploring a sale of its hospitality software SynXis to help pare its debt. TPG will invest in the unit through its U.S. and European private equity platform, with the transaction expected to close by the end of the third quarter 2025. Sabre's SynXis serves as an integrated system of record for reservation and guest information for hotels. The company's customers include top airlines, travel agencies, hotels, tour operators, car rental brands and rail carriers. "This divestiture positions Sabre to focus on our core airline IT and travel marketplace platforms," said CEO Kurt Ekert. The deal also comes at a time of uncertainty for the travel industry due to fears of an economic recession stemming from U.S. President Donald Trump's sweeping import tariffs. Many airlines, including legacy carriers Delta, Southwest and American, have withdrawn their full-year financial forecasts in view of the ambiguity. "Amid uncertain near-term travel demand and enduring elevated financing costs, the sale should alleviate investor concerns about Sabre's ability to meet its debt obligations and continue financing its core distribution business, given its 2024 debt/adjusted EBITDA ratio of 10 times," analyst Dan Wasiolek said in a Morningstar note. Sign in to access your portfolio
