Latest news with #EarningsReport
Reuters
6 days ago
- Business
- Reuters
London stocks tick higher after mixed earnings
May 28 (Reuters) - UK shares rose on Wednesday as investors parsed a mixed bag of company results, with all eyes on chip bellwether Nvidia's (NVDA.O), opens new tab earnings later in the day. As of 0835 GMT, the blue-chip FTSE 100 (.FTSE), opens new tab was up 0.1% and the midcap index FTSE 250 (.FTMC), opens new tab gained 0.3%. The FTSE 100 has gained 3.6% so far this month as the United States struck trade deals with the UK and China and postponed 50% tariffs on the European Union. The International Monetary Fund increased its growth forecast for Britain to 1.2% from its previous forecast of 1.1% in April, with expectations of a rise to 1.4% in 2026 despite U.S. tariff headwinds. Aerospace and defense stocks (.FTNMX502010), opens new tab led gains with Rolls-Royce (RR.L), opens new tab among top gainers on the blue-chip index after U.S. President Donald Trump threatened additional sanctions on Russia earlier this week. In earnings-driven moves, pest control company Rentokil Initial (RTO.L), opens new tab rose 1.9% after agreeing to sell a part of its business to H.I.G. Capital in a 410 million euros deal ($463.71 million). Home improvement retailer Kingfisher (KGF.L), opens new tab fell 2.3% following results. Data analytics and consulting company GlobalData (DATA.L), opens new tab lost 2.7% after extending the deadline for private equity firm ICG (ICGIN.L), opens new tab to offer a takeover bid, while ending talks with KKR (KKR.N), opens new tab after failing to reach an agreement. Investors will look for answers on how much U.S. chip curbs on China will cost Nvidia when it reports results after regular trading hours in the U.S. Data showed British grocery price inflation jumped to 4.1% for the four weeks to May 18, its highest level since February last year, adding pressure on consumers. Attention this week will also be on speeches from Federal Reserve policymakers and U.S. core PCE data on Friday. Losses were led by the Personal Goods index (.FTNMX402040), opens new tab, with Dr Martens (DOCS.L), opens new tab, ASOS (ASOS.L), opens new tab and Watches of Switzerland Group (WOSG.L), opens new tab among the top decliners on the domestically-focussed FTSE 250 index. * For related news, click on - * UK hot stocks: HOT and GB Wall Street: Gilts report: Euro bond report Pan European stock report: Tokyo stocks: HK stocks: Sterling report: Dollar report: * For company prices, click on - * Company directory: By sector: * For pan-European market data, click on - * European Equities speed guide................ FTSE Eurotop 300 index........................... (.FTEU3), opens new tab DJ STOXX index................................... (.STOXX), opens new tab Top 10 STOXX sectors........................ (. opens new tab Top 10 EUROSTOXX sectors................... (. opens new tab Top 10 Eurotop 300 sectors.................. (. opens new tab Top 25 European pct gainers.................... (. opens new tab Top 25 European pct losers..................... (. opens new tab )
Bloomberg
6 days ago
- Business
- Bloomberg
Consumer Confidence Jumps
Get a jump start on the US trading day with Matt Miller, Katie Greifeld and Sonali Basak on "Bloomberg Open Interest." Wall Street is set for a post-holiday rebound on US-EU trade talk optimism and consumer confidence jumps the most in four years on the trade truce. Richmond Fed President Tom Barkin joins us on Open Interest to talk about how both businesses and consumers are feeling about trade policy. Meanwhile, Nvidia will take the spotlight when it reports earnings after the bell today and Apple rebounds as analysts digest the impact of President Trump's tariff policies. (Source: Bloomberg)
Yahoo
24-05-2025
- Business
- Yahoo
Snowflake (SNOW) Reports Strong Q1, Raises Full-Year Outlook
After the market closed on May 21, Snowflake Inc. (NYSE:SNOW) reported its FQ1 2026 results (FY ends in January), which were better than street expectations. It reported total revenue of $1.04 billion (+26% year-over-year) and Product revenue of $996.8 million, each beating consensus by over 3%. It is worth mentioning here that Snowflake's story mainly revolves around Product revenue, as they constitute over 95% of total revenue. The remaining performance obligations (RPO) at the end of the quarter stood at $6.7 billion, also ahead of the consensus, which had pencilled in $6.6 billion. RPO is a key indicator in the software industry to gauge future growth and broadly means future revenue under contract. The company also delivered an impressive operating performance. Its adjusted operating margin expanded nearly 450 basis points year-over-year to 9%, helping the EPS grow 71% to $0.24 and exceed consensus by over 14%. SNOW generated an adjusted free cash flow of $206 million in the quarter, reflecting a free cash flow margin of 20%, down from 44% reported in the prior year quarter. Management attributed this dip to seasonality and expects better trends in the second half of the year. Customer metrics were encouraging as well. SNOW added 451 new customers in the quarter, bringing the customer base to 11,578. While net revenue retention rate remained above 120%, customer quality continued to improve with 27% year-over-year growth in customers accounting for over $1.0 million in product revenue. On the outlook, Snowflake Inc. (NYSE:SNOW) provided upbeat guidance for the next quarter and the full year. It expects Product revenue for Q2 to surge 25% year-over-year to $1.04 billion, which was modestly ahead of expectations. For the full year, it raised its Product revenue guidance to $4.33 billion, from $4.28 billion earlier. The management also expects to keep operating margin around 8% for the next year, which is up from 6% in FY 2025. After the results, Kirk Materne, an analyst at Evercore ISI, commended the guidance raise amid the macroeconomic uncertainty, and believes it reflects positively on the near-term demand environment. Snowflake Inc. (NYSE:SNOW) is a cloud-based data platform that helps organizations efficiently store, analyze, and share data. Its Data Cloud enables businesses to consolidate data in one secure and reliable place, driving innovation and valuable insights. The platform supports a variety of workloads, including data engineering, data science, and application development. While we acknowledge the potential of SNOW as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SNOW and that has 100x upside potential, check out our report about the cheapest AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None.
Yahoo
22-05-2025
- Business
- Yahoo
TJX Companies Inc (TJX) Q1 2026 Earnings Call Highlights: Strong Comp Sales Growth and ...
Comp Sales Growth: 3% increase, driven by customer transactions. Pre-tax Margin: 10.3%, down 80 basis points, but above plan. Gross Margin: Down 50 basis points due to unfavorable inventory hedges. SG&A: Increased 20 basis points due to lapping of a reserve benefit and higher store wage costs. Diluted Earnings Per Share: $0.92, above expectations. Marmaxx Comp Sales: Increased 2%, with a segment profit margin of 13.7%. HomeGoods Comp Sales: Increased 4%, with a segment profit margin of 10.2%. TJX Canada Comp Sales: Increased 5%, with a segment profit margin of 10.6% on a constant currency basis. TJX International Comp Sales: Increased 5%, with a segment profit margin of 4.2% on a constant currency basis. Inventory: Balance sheet inventory up 15%, inventory per store up 7%. Full Year Comp Sales Growth Guidance: 2% to 3% increase. Full Year Sales Guidance: $58.1 billion to $58.6 billion, up 3% to 4%. Full Year Pre-tax Profit Margin Guidance: 11.3% to 11.4%. Full Year Gross Margin Guidance: 30.4% to 30.5%. Full Year Diluted EPS Guidance: $4.34 to $4.43, a 2% to 4% increase. Second Quarter Comp Sales Growth Guidance: 2% to 3% increase. Second Quarter Sales Guidance: $13.9 billion to $14 billion. Second Quarter Pre-tax Profit Margin Guidance: 10.4% to 10.5%. Second Quarter Diluted EPS Guidance: $0.97 to $1, up 1% to 4%. Warning! GuruFocus has detected 7 Warning Signs with DOMO. Release Date: May 21, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. TJX Companies Inc (NYSE:TJX) reported a 3% increase in comp sales, driven by customer transactions, with every division contributing to the growth. The company exceeded expectations in pre-tax profit margin and earnings per share, highlighting strong financial performance. The availability of merchandise is outstanding, positioning TJX Companies Inc (NYSE:TJX) to capitalize on market opportunities. The HomeGoods division delivered a 4% comp sales growth, with segment profit margin up 70 basis points, showcasing strength in the home fashion market. TJX Companies Inc (NYSE:TJX) is confident in its long-term growth strategy, supported by a flexible business model and a strong global buying infrastructure. Pre-tax margin decreased by 80 basis points, primarily due to unfavorable inventory hedges and increased SG&A expenses. Net interest income negatively impacted pre-tax profit margin by 20 basis points due to a lower cash balance and lower interest rates. The Marmaxx division saw a segment profit margin decrease of 50 basis points, despite a 2% increase in comp sales. TJX Canada experienced a 170 basis points decline in segment profit margin on a constant currency basis, affected by unfavorable transactional foreign exchange. The company faces challenges from tariffs and a highly fluid macro environment, which could impact short-term profitability. Q: Can you provide more context on inventory availability given the current environment with delayed shipments and tariff uncertainties? A: Ernie Herrman, CEO, explained that while there is uneasiness among vendors due to tariff uncertainties, TJX has been able to take advantage of great buys in the market. The company remains flexible and can shift focus to categories with more availability, ensuring they maintain great value for customers. Q: Could you elaborate on the progression of comp trends at Marmaxx and the strong start to the second quarter? A: John Klinger, CFO, noted that sales improved as the weather got better, with comps increasing month-to-month. Ernie Herrman added that every division is participating in the comp growth, with Marmaxx showing improvement and HomeGoods outperforming the industry. Q: How are you managing the impact of tariffs on gross margins, especially in the second quarter? A: John Klinger stated that Q2 is the most impacted by tariffs due to pre-committed orders. However, mitigation efforts are in place, including better buying and cost efficiencies, which are expected to continue benefiting the company in the second half of the year. Q: How does TJX plan to handle potential price increases from vendors due to tariffs, and what strategies are in place to maintain value for customers? A: Ernie Herrman highlighted that TJX can negotiate with vendors and adjust pricing to maintain a value gap with traditional retailers. The company focuses on buying advantageously and maintaining strong vendor relationships to ensure competitive pricing. Q: What is the current percentage of direct-sourced products, and how might this change in response to the current environment? A: Ernie Herrman mentioned that less than 10% of TJX's business is direct-sourced, and the company maintains a balanced mix. They are strategically buying closer to market to take advantage of potential deals, without significantly altering the direct-sourcing percentage. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
16-05-2025
- Business
- Yahoo
HAFNIA LIMITED: Correction of Fleet Value Presentation for the First Quarter 2025
SINGAPORE, May 16, 2025--(BUSINESS WIRE)--Reference is made to the stock exchange announcement regarding financial information for Q1 2025 issued by Hafnia Limited ("Hafnia", "we", the "Company", OSE ticker code: "HAFNI", NYSE ticker code: "HAFN") on 15 May 2025. Hafnia has become aware of an inconsistency in the presentation of the broker valuations of the fleet on Page 6 of its Q1 2025 Earnings Report, where we included the full 100% of the joint venture vessels instead of the stated 50%. This does not impact any of the Company's financials, such as net profit, EBITDA, net asset value, net loan-to-value nor dividend. Please find attached the updated Q1 Earnings Report. The updated report is also available on our website. About Hafnia Limited: Hafnia is one of the world's leading tanker owners, transporting oil, oil products and chemicals for major national and international oil companies, chemical companies, as well as trading and utility companies. As owners and operators of around 200 vessels, we offer a fully integrated shipping platform, including technical management, commercial and chartering services, pool management, and a large-scale bunker procurement desk. Hafnia has offices in Singapore, Copenhagen, Houston, and Dubai and currently employs over 4000 employees onshore and at sea. Hafnia is part of the BW Group, an international shipping group involved in oil and gas transportation, floating gas infrastructure, environmental technologies, and deep-water production for over 80 years. View source version on Contacts For further information, please contact:Mikael SkovCEO Hafnia Limited+65 8533 8900 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
