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WIRED
11 hours ago
- Business
- WIRED
Companies Warn SEC That Mass Deportations Pose Serious Business Risk
Jun 16, 2025 4:16 PM Since Trump took office, ICE arrests have more than doubled. Business throughout the US economy are sounding the alarm on the potential impact. US Immigration and Customs Enforcement (ICE) agents detain a suspect during a multi-agency targeted enforcement operation in Lyons, Illinois, US, on Sunday, Jan. 26, 2025. Photograph:As the Trump administration executes an aggressive deportation campaign across the United States, a growing number of US companies warn the crackdown could threaten their operations. Since January of this year, more than forty companies have mentioned the impact of deportations in filings to the Securities and Exchange Commission, with many saying it could hurt the labor force, increase the risk of a recession, or create more economic uncertainty, according to seventy-four filings reviewed by WIRED. The impacted industries span a wide cross-section of the US economy, including food production, tech, and construction. 'Many farms employ hard-working, non-criminal employees who have not yet achieved legal citizenship,' reads one filing from ImmuCell, which develops and sells drugs for animals in the beef and dairy industries. 'Significant deportations of these individuals could have a negative impact on the operations of our customers and of our source farms.' It's highly unusual for companies to mention deportations in filings to the SEC. Between June of 2020 and January of 2025, just six SEC filings mentioned deportations. From June of 2015 to January of 2025, that number rose to just 22. Since taking office, however, President Trump has made cracking down on illegal immigration a cornerstone of his policy agenda. White House deputy chief of staff for policy Stephen Miller has instructed Immigration and Customs Enforcement to work toward a minimum of 3,000 arrests of undocumented immigrants daily, and the agency has been orchestrating raids at workplaces, outside elementary schools, and even inside people's homes. The highly visible deportation campaign has sparked nationwide anti-ICE protests, and helped energize the 'No Kings' demonstrations that swept the country this past weekend. The Trump administration has reportedly told ICE to scale back its workplace raids, in part due to concerns over how they are affecting the agriculture, hospitality, and restaurant industries. Zevin Asset Management, a 'socially-responsible' investment firm that owns shares in Google's parent company Alphabet, said in a proposal on behalf of two investors that mass deportations should prompt Alphabet to have a better 'due diligence process' to determine whether its businesses "contributes to human rights harms in conflict-affected and high-risk areas.' Google's work as 'one of the leading cloud computing providers' to ICE, US Customs and Border Protection, and the US government at large raised concerns of a 'potential complicity in human rights harms,' happening at the US Southern border, the proposal claims. 'These abuses include the separation of children from their parents, arbitrary arrests and detentions, poor detention conditions, and unlawful deportations to countries with poor human rights records,' the proposal claims. Most of the other filings mention deportations in relation to risks to future business or net income. Hawaiian Electric, the primary electricity provider of Hawaii, said in its SEC filing that 'recession risks increase due to federal policies and actions, including trade policies, mass deportations, and spending cuts.' The filing cited an economic forecast from the University of Hawaii published in May, which predicted 'limited GDP growth for 2025 and a contraction in 2026, marking Hawaii's first recession since the pandemic.' Other filings suggested a recession could come even earlier. The community bank Hanmi Bank, under its holding company Hanmi Financial Corp., said in an SEC filing that 'the combination of tariffs, rising inflation, deportations, global political unrest and tensions, and reduced credit availability' could cause 'a mild recession in 2025.' Some companies said that deportations could fuel labor shortages. Century Communities, a homebuilding company, said in its 2024 annual report that if it's unable to hire enough skilled tradesmen and contractors, it "may have a material adverse effect on our standards of service." 'Labor shortages may be caused by, among other factors, slowing rates of immigration and/or increased deportations since a substantial portion of the construction labor force is made up of immigrants,' the filing says. A few companies mentioned deportations but said that they aren't sure how the crackdown will impact their business. The holding companies for banks Bridgewater Bancshares, Heartland Bank and Trust Company, and Heritage Bank, for example, mention mass deportations in a list of factors that could affect their 'forward looking statements,' which predict how well the banks may perform in the coming months. However, the companies stopped short of saying whether deportations would harm or help their businesses. Other companies said that deportations present some risk to the economy, but noted they do not expect it to cause widespread damage or hurt their business. In a filing for Forum Investment Group's real estate income fund, the firm said that 'stricter immigration controls and deportations' could have mixed outcomes. The filing claims these policies could increase inflation, but possibly be a 'boon for U.S. workers (higher wages)' or cool down 'overheated housing markets.' Some companies argued that their businesses could be at risk if their customers are affected by deportations. Pacific Airport Group, which operates through airports in Mexico and Jamaica, said that policies like mass deportations and restrictions on international travel would hugely impact airport traffic, and therefore the company's bottom line. 'These measures could create uncertain economic conditions in Mexico, affecting leisure, visiting friends and relatives, and business travel, to and from the country,' the filing says. Meanwhile, the cloud communications and financial services company IDT Corporation said that mass deportations could 'negatively impact' its enterprise customers, like the remittance transfer service BOSS Money, and the money transfer and international call servicing company BOSS Revolution. Anything that disrupts people's ability to work or travel outside their country of origin, IDT claimed, could hurt customers and therefore its business. The discount store chain Pricesmart, which operates throughout Central America, said that mass deportations could have a devastating effect on an entire region. If there's a major reduction in foreign workers sending money to their families in Guatemala, El Salvador, Nicaragua and Honduras, those nations' economies would suffer, and so would Pricesmart stores, the filing said. Money from foreign workers, the company warns, is 'a key source of income and poverty alleviation for millions of families.'
Yahoo
20-05-2025
- Business
- Yahoo
ImmuCell Reports Y/Y Q1 Earnings Growth on Record Sales & Margin Gains
Shares of ImmuCell Corporation ICCC have gained 3.9% since reporting results for the first quarter of 2025. This compares with the S&P 500 index's 5.5% rise over the same time frame. Over the past month, the stock has jumped 11.2% against the S&P 500's 13.5% rally. ImmuCell posted a strong financial performance for the first quarter of 2025, delivering a record $8.1 million in product sales, up 11% from $7.3 million in the prior-year period. The rise marked a continuation of momentum established in late 2024. Net income turned positive to $1.45 million from a net loss of $438,000 in the same quarter a year ago. This swing was driven by sales growth and gross margin expansion. Earnings per share improved to 16 cents from a loss of 6 cents per share in the prior-year quarter. ImmuCell Corporation price-consensus-eps-surprise-chart | ImmuCell Corporation Quote The gross margin for the quarter improved to 42% from 37% in the fourth quarter of 2024, and is significantly higher than the margin reported a year ago when the company faced elevated scrap and contamination-related costs. This progress reflects operational normalization following production disruptions in 2022 and 2023. Adjusted EBITDA for the first quarter came in at $2.3 million, a sharp rise from $458,000 in the prior-year quarter. For the trailing 12 months ended March 31, 2025, adjusted EBITDA totaled $3.3 million, up from a $280,000 loss in the comparable period. First Defense — ImmuCell's flagship product line for scours prevention in calves — accounted for the majority of sales. Tri-Shield, which contains E. coli, coronavirus and rotavirus claims, represented 71% of First Defense product sales for the quarter. Management noted that expanded capacity and the diversification of delivery formats, including gel tubes and a soon-to-launch bulk powder product, are improving customer reach and supporting revenue growth. CEO Michael Brigham emphasized that the business has become larger, more complex and increasingly diversified, driven primarily by the strength of First Defense and continued investment in production capacity. The company's annualized manufacturing capacity has been scaled to support $30 million in sales. Brigham also noted that contamination issues that affected the prior quarters have been successfully remediated, with no new events since April 2024. New CFO Tim Fiori highlighted cost control and operational improvements, particularly in managing fixed costs across higher sales volumes. He also mentioned that gross margin expansion and improved adjusted EBITDA are the key to driving long-term profitability, especially with many fixed facility and labor costs already in place. The turnaround in profitability and margins stems from a combination of operational stability, capacity expansion and higher sales volumes. Past contamination events had led to increased scrap costs and disrupted inventory flow. However, the company has operated without further contamination incidents for over a year, allowing for better yields and manufacturing efficiencies. Additionally, customer demand for Tri-Shield has risen sharply, reflecting the product's strong efficacy claims compared with traditional dam-level vaccines. Sales were also buoyed by improved distribution and a strengthened sales team that includes four regional managers, a commercial stakeholder leader, and a marketing director. The backlog of orders, which had accumulated during supply disruptions, has been gradually reduced, standing at $4 million as of March 31 and falling further to $3.4 million by early May. ImmuCell stated that its backlog reduction and increased production capability position it well for continued sales growth. The company expects the recently introduced investigational product use of Re-Tain to yield valuable field feedback, which could help shape future commercialization strategies. Brigham acknowledged that while full FDA approval for Re-Tain remains pending due to manufacturing inspection delays, the investigational phase will allow for data collection on product performance in real-world settings. The company confirmed that it paused a $4-million investment to bring formulation and aseptic filling for Re-Tain in-house. This initiative may resume once further clarity is achieved regarding FDA licensing timelines and strategic options. Overall, ImmuCell's first-quarter performance demonstrated solid operational recovery and financial improvement, driven by sustained demand for its core products and improved execution following prior-year setbacks. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ImmuCell Corporation (ICCC) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research 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
Yahoo
12-05-2025
- Business
- Yahoo
ImmuCell to Announce Unaudited Financial Results for the Quarter Ended March 31, 2025
Conference Call Scheduled for Thursday, May 15, 2025 at 9:00 AM ET PORTLAND, Maine, May 12, 2025 (GLOBE NEWSWIRE) -- ImmuCell Corporation (Nasdaq: ICCC) ('ImmuCell' or the 'Company'), a growing animal health company that develops, manufactures and markets scientifically proven and practical products that improve the health and productivity of dairy and beef cattle, expects to report unaudited financial results for the quarter ended March 31, 2025 after the market closes on Wednesday, May 14, 2025. The Company is planning to host a conference call the next morning, Thursday, May 15, 2025, at 9:00 AM ET to review the unaudited financial results. Interested parties can access the conference call by dialing (844) 855-9502 (toll free) or (412) 317-5499 (international) at 9:00 AM ET. A teleconference replay of the call will be available until May 22, 2025 at (877) 344-7529 (toll free) or (412) 317-0088 (international), utilizing replay access code #4755970. The Company anticipates no change to the preliminary sales results for the first quarter ended March 31, 2025 that were disclosed on April 8, 2025. The Company expects to file its Quarterly Report on Form 10-Q on May 14, 2025 after the market closes. Investors are encouraged to review the Company's updated Corporate Presentation slide deck that provides an overview of the Company's business which can be accessed under the 'Investors' tab of the Company's website at or by request to the Company. An updated version of the slide deck will be made available after the market closes on Wednesday, May 14, 2025. About ImmuCell:ImmuCell Corporation's (Nasdaq: ICCC) purpose is to create scientifically proven and practical products that improve the health and productivity of dairy and beef calves. ImmuCell manufactures and markets First Defense®, which provides Immediate Immunity™ to newborn dairy and beef calves, and is developing Re-Tain®, a novel treatment for subclinical mastitis in dairy cows without FDA-required milk discard or pre-slaughter withdrawal label restrictions that provides an alternative to traditional mastitis antibiotics. Press releases and other information about the Company are available at: Contacts: Michael F. Brigham, President and CEO Timothy C. Fiori, Chief Financial Officer ImmuCell Corporation (207) 878-2770 Joe Diaz, Robert Blum and Joe Dorame Lytham Partners, LLC (602) 889-9700 iccc@ 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
Yahoo
03-04-2025
- Business
- Yahoo
ImmuCell Full Year 2024 Earnings: US$0.26 loss per share (vs US$0.74 loss in FY 2023)
Revenue: US$26.5m (up 52% from FY 2023). Net loss: US$2.16m (loss narrowed by 63% from FY 2023). US$0.26 loss per share (improved from US$0.74 loss in FY 2023). This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. All figures shown in the chart above are for the trailing 12 month (TTM) period The primary driver behind last 12 months revenue was the Scours segment contributing a total revenue of US$26.3m (99% of total revenue). Notably, cost of sales worth US$18.1m amounted to 68% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Research & Development (R&D) costs, amounting to US$3.90m (37% of total expenses). Explore how ICCC's revenue and expenses shape its earnings. ImmuCell shares are up 13% from a week ago. Before you take the next step you should know about the 3 warning signs for ImmuCell (1 shouldn't be ignored!) that we have uncovered. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
