Latest news with #grossprofit
National Post
4 days ago
- Business
- National Post
Birks Group Inc. Reports Fiscal 2025 Results
Article content MONTREAL — Birks Group Inc. (the 'Company' or 'Birks Group') (NYSE American: BGI), today reported its financial results for the fiscal year ended March 29, 2025. Article content All figures presented herein are in Canadian dollars. For the fiscal year ended March 29, 2025 ('fiscal 2025'), the Company reported net sales of $177.8 million, a decrease of $7.5 million or 4.0%, from the comparable fiscal year ended March 30, 2024 ('fiscal 2024'). Comparable store sales for fiscal 2025 decreased by 3.4% compared to the corresponding period in fiscal 2024. The decrease in net sales and comparable store sales is mainly due to lower sales of branded jewelry due to the exit of a jewelry brand from two stores. When excluding the third-party jewelry brand movement, the comparable store sales increased by 6.9%, mainly driven by timepiece sales. The Company reported gross profit of $66.3 million, or 37.3% of net sales, compared to $73.6 million, or 39.7% of net sales in fiscal 2024, due to lower sales volume resulting from the exit of a jewelry brand from two stores. Gross profit as a percentage of sales for fiscal 2025 was 37.3%, a decrease of 240 basis points from the gross profit as a percentage of sales of 39.7% for fiscal 2024 as a result of the sales mix with decreased sales from third-party branded jewelry, as well as a foreign exchange loss. Article content Mr. Jean-Christophe Bédos, President and Chief Executive Officer of Birks Group, commented: 'Although our net sales and comparable store sales for fiscal 2025 are lower than fiscal 2024, when excluding the effect of third-party jewelry brand movement, comparable store sales are positive year-over-year, as a result of a strong retail performance and product offering particularly in our third-party branded timepieces. In fiscal 2025, we opened two new stores under the TimeVallée and Birks brands and continued to benefit from the fiscal 2024 renovations in our Chinook and Laval locations. These initiatives along with our recent announcement of the acquisition of the watch and jewelry business of European Boutique will continue to generate greater sales and contribute to improve our results.' Article content Mr. Bédos further commented: 'I would like to thank our teams for their tireless efforts. The results achieved in fiscal 2025 are a testament to our commitment to our customers and I am grateful for the unwavering efforts of all our employees and the implementation of various initiatives during this past year to enhance our product offering and customer experience.' Financial overview for the fiscal year ended March 29, 2025: Article content Total net sales for fiscal 2025 were $177.8 million compared to $185.3 million in fiscal 2024, a decrease of $7.5 million, or 4.0%. The decrease in net sales in fiscal 2025 was primarily driven by the results of the Company's retail channel. Net retail sales in fiscal 2025 were $7.3 million lower than fiscal 2024, primarily due to the decrease in third-party branded jewelry sales, following the exit of a jewelry brand from two stores, partially offset by an increase in branded timepiece sales throughout the retail network; Article content Comparable store sales decreased by 3.4% in fiscal 2025 compared to fiscal 2024 mainly due to lower third-party branded jewelry sales following the exit of a jewelry brand from two stores, partially offset by an increase in third-party branded timepiece sales and an increase in average sales transaction value. When excluding the third-party jewelry brand movement, the comparable store sales increased by 6.9%, mainly driven by timepiece sales; Article content Total gross profit for fiscal 2025 was $66.3 million, or 37.3% of net sales, compared to $73.6 million, or 39.7% of net sales, in fiscal 2024. This decrease in gross profit was primarily due to the decreased sales volume experienced during fiscal 2025, due to third-party branded jewelry sales following the exit of a jewelry brand from two stores, and a foreign exchange loss due to the strengthening of the U.S. dollar, partially offset by the increased sales of third-party branded timepieces. The decrease of 240 basis points in gross margin percentage resulted primarily from the sales mix with decreased sales from third-party branded jewelry, as well as a foreign exchange loss, partially offset by an increase in branded timepiece sales; Article content SG&A expenses in fiscal 2025 were $59.5 million, or 33.5% of net sales, compared to $65.7 million, or 35.5% of net sales, in fiscal 2024, a decrease of $6.2 million. The main drivers of the decrease in SG&A expenses in fiscal 2025 include lower occupancy costs ($2.7 million) mainly due to store closures and store lease modifications, lower marketing costs ($2.3 million) mainly due to lower brand development initiatives, lower compensation costs ($0.5 million) mainly due to lower sales volume and head count reductions, lower general operating costs ($0.4 million) and lower non-cash based compensation expense ($0.3 million) mainly due to fluctuations in the Company's stock price during the fiscal year. As a percentage of sales, SG&A expenses in fiscal 2025 decreased by 200 basis points as compared to fiscal 2024, reflecting the Company's focus on cost management and containment; Article content The Company's adjusted EBITDA (1) for fiscal 2025 was $9.2 million, a decrease of $0.8 million, compared to adjusted EBITDA (1) of $10.0 million for fiscal 2024; Article content The Company's reported operating loss for fiscal 2025 was $5.5 million, a decrease of $6.7 million, compared to a reported operating income of $1.2 million for fiscal 2024. The operating loss in fiscal 2025 includes an impairment of long-lived assets of $4.6 million related to the write-down of capitalized software costs associated with the delay in completing the implementation of the Company's ERP system; Article content The Company's recognized interest and other financing costs were $9.7 million in fiscal 2025, an increase of $1.7 million, compared to recognized interest and other financing costs of $8.0 million in fiscal 2024. This increase is mainly due to an increase in the average amount outstanding on the amended credit facility, additional borrowings, and a foreign exchange loss of $1.0 million in fiscal 2025 versus a foreign exchange gain of $0.2 million in fiscal 2024 on our U.S. dollar denominated debt; Article content The Company recognized a net loss for fiscal 2025 of $12.8 million, or $0.66 per share, compared to a net loss for fiscal 2024 of $4.6 million, or $0.24 per share. Article content (1) This is a non-GAAP financial measure defined below under 'Non-GAAP Measures' and accompanied by a reconciliation to the most directly comparable GAAP financial measure. Article content About Birks Group Inc. Article content Birks Group is a leading designer of fine jewelry and an operator of luxury jewelry, timepieces and gifts retail stores in Canada. The Company operates 17 stores under the Maison Birks brand in most major metropolitan markets in Canada, one retail location in Montreal under the Birks brand, one retail location in Montreal under the TimeVallée brand, one retail location in Calgary under the Brinkhaus brand, one retail location in Vancouver under the Graff brand, one retail location in Vancouver under the Patek Philippe brand, four retail locations in Laval, Ottawa and Toronto under the Breitling brand, four retail locations in Toronto under the European Boutique brand, one retail location in Toronto under the Omega brand and one retail location in Toronto under the Montblanc brand. Birks was founded in 1879 and has become Canada's premier designer and retailer of fine jewelry, timepieces and gifts. Additional information can be found on Birks' web site, Article content NON-GAAP MEASURES Article content The Company reports financial information in accordance with U.S. Generally Accepted Accounting Principles ('U.S. GAAP'). The Company's performance is monitored and evaluated using various sales and earnings measures that are adjusted to include or exclude amounts from the most directly comparable GAAP measure ('non-GAAP measures'). The Company presents such non-GAAP measures in reporting its financial results to assist in business decision-making and to provide key performance information to senior management. The Company believes that this additional information provided to investors and other external stakeholders will allow them to evaluate the Company's operating results using the same financial measures and metrics used by the Company in evaluating performance. The Company does not, nor does it suggest that investors and other external stakeholders should, consider non-GAAP measures in isolation from, or as a substitute for, financial information prepared in accordance with U.S. GAAP. These non-GAAP measures may not be comparable to similarly titled measures presented by other companies. In addition to our results determined in accordance with U.S. GAAP, we use non-GAAP measures including 'EBITDA' and 'Adjusted EBITDA'. Article content 'EBITDA' is defined as net income (loss) before interest expense and other financing costs, income taxes expense (recovery) and depreciation and amortization. Article content EBITDA & Adjusted EBITDA (in thousands) For the fiscal year ended March 29, 2025 March 30, 2024 Net income (loss) (GAAP measure) $ (12,819 ) $ (4,631 ) as a % of net sales -7.2 % -2.5 % Add the impact of: Interest expense and other financing costs 9,712 8,007 Depreciation and amortization 7,733 6,639 EBITDA (non-GAAP measure) $ 4,626 $ 10,015 as a % of net sales 2.6 % 5.4 % Add the impact of: Impairment of long-lived assets (a) 4,592 — Adjusted EBITDA (non-GAAP measure) $ 9,218 $ 10,015 as a % of net sales 5.2 % 5.4 % (a) Non-cash impairment of long-lived assets in fiscal 2025 related to certain software costs associated with the delay in completing the implementation of the Company's ERP system. Article content Forward Looking Statements Article content This press release contains forward- looking statements which can be identified, for example, by their use of words such as 'plans,' 'expects,' 'believes,' 'will,' 'anticipates,' 'intends,' 'projects,' 'estimates,' 'could,' 'would,' 'may,' 'planned,' 'goal,' and other words of similar meaning. All statements that address expectations, possibilities or projections about the future, including without limitation, statements about anticipated economic conditions, generation of shareholder value, and our strategies for growth, performance drivers, expansion plans, sources or adequacy of capital, expenditures and financial results are forward-looking statements. Article content Because such statements include various risks and uncertainties, actual results might differ materially from those projected in the forward- looking statements and no assurance can be given that the Company will meet the results projected in the forward-looking statements. Accordingly, the reader should not place undue reliance on forward-looking risks and uncertainties include, but are not limited to the following: (i) a decline in consumer spending or deterioration in consumer financial position; (ii) economic, political and market conditions, including the economies of Canada and the U.S. and the influence of inflation on consumer spending, which could adversely affect the Company's business, operating results or financial condition, including its revenue and profitability, through the impact of changes in the real estate markets, changes in the equity markets and decreases in consumer confidence and the related changes in consumer spending patterns, the impact on store traffic, tourism and sales as well as the recently imposed tariffs (and retaliatory measures), possible changes therefrom and other trade restrictions; (iii) the impact of fluctuations in foreign exchange rates, increases in commodity prices and borrowing costs and their related impact on the Company's costs and expenses; (iv) the Company's ability to maintain and obtain sufficient sources of liquidity to fund its operations, to achieve planned sales, gross margin and net income, to keep costs low, to implement its business strategy, maintain relationships with its primary vendors, to source raw materials, to mitigate fluctuations in the availability and prices of the Company's merchandise, to compete with other jewelers, to succeed in its marketing initiatives (including with respect to Birks branded products), and to have a successful customer service program; (v) the Company's plan to evaluate the productivity of existing stores, close unproductive stores and open new stores in new prime retail locations, renovate existing stores and invest in its website and e-commerce platform; (vi) the Company's ability to execute its strategic vision; and (vii) the Company's ability to invest in and finance capital expenditures; (viii) the Company's ability to maintain its listing on the NYSE American exchange or to list its shares on another national securities exchange; and (ix) the Company's ability to continue as a going concern. Article content Information concerning the above and other risk factors that could cause actual results to differ materially is set forth under the captions 'Risk Factors' and 'Operating and Financial Review and Prospects' and elsewhere in the Company's Annual Report on Form 20-F filed with the Securities and Exchange Commission on July 25, 2025 and subsequent filings with the Securities and Exchange Commission. The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law. Article content As of March 29, 2025 March 30, 2024 Assets Current Assets Cash and cash equivalents $ 1,509 $ 1,783 Accounts receivable and other receivables 6,608 8,455 Inventories 116,277 99,067 Prepaids and other current assets 2,072 2,913 Total current assets 126,466 112,218 Long-term receivables 1,084 1,571 Equity investment in joint venture 5,169 4,122 Property and equipment 25,380 25,717 Operating lease right-of-use asset 34,964 51,753 Intangible assets and other assets 3,017 7,887 Total non-current assets 69,614 91,050 Total assets $ 196,080 $ 203,268 Liabilities and Stockholders' Equity (Deficiency) Current liabilities Bank indebtedness $ 73,630 $ 63,372 Accounts payable 58,114 43,011 Accrued liabilities 6,053 6,112 Current portion of long-term debt 4,860 4,352 Current portion of operating lease liabilities 6,929 6,430 Total current liabilities 149,586 123,277 Long-term debt 21,374 22,587 Long-term portion of operating lease liabilities 38,629 59,881 Other long-term liabilities 4,502 2,672 Total long-term liabilities 64,505 85,140 Stockholders' equity (deficiency): Class A common stock – no par value, unlimited shares authorized, issued and outstanding 11,876,717 (11,447,999 as of March 30, 2024) 42,854 40,725 Class B common stock – no par value, unlimited shares authorized, issued and outstanding 7,717,970 57,755 57,755 Preferred stock – no par value, unlimited shares authorized, none issued — — Additional paid-in capital 19,719 21,825 Accumulated deficit (138,295 ) (125,476 ) Accumulated other comprehensive income (loss) (44 ) 22 Total stockholders' equity (deficiency) (18,011 ) (5,149 ) Total liabilities and stockholders' equity (deficiency) $ 196,080 $ 203,268 Article content Article content Article content Article content Contacts Article content Company Contact: Article content Article content Katia Fontana Article content Article content Vice President and Chief Financial Officer Article content
Yahoo
4 days ago
- Business
- Yahoo
Gencor Releases First Quarter Fiscal 2025 Results
ORLANDO, Fla., July 25, 2025 (GLOBE NEWSWIRE) -- Gencor Industries, Inc. (the 'Company' or 'Gencor') (NYSE American: GENC) announced today net revenue for the quarter ended December 31, 2024 of $31,416,000 increased 20.7% over net revenue for the quarter ended December 31, 2023 of $26,018,000. Revenue from contract equipment sales recognized over time increased significantly and was slightly offset by a decrease in parts sales. As a percent of sales, gross profit margins were 27.6% in the quarter ended December 31, 2024, compared to 29.0% in the quarter ended December 31, 2023 due to a smaller contribution of parts sales to total sales in the quarter ended December 31, 2024. Product engineering and development expenses decreased $124,000 to $677,000 for the quarter ended December 31, 2024, as compared to $801,000 for the quarter ended December 31, 2023, due to lower headcount. Selling, general and administrative ('SG&A') expenses increased slightly to $3,367,000 for the quarter ended December 31, 2024, compared to $3,350,000 for the quarter ended December 31, 2023. The Company had operating income of $4,624,000 for the quarter ended December 31, 2024 as compared to $3,383,000 for the quarter ended December 31, 2023. The increased operating income was due primarily to higher net revenues for the quarter ended December 31, 2024. For the quarter ended December 31, 2024, the Company had net other income of $534,000 compared to $2,235,000 for the quarter ended December 31, 2023. Higher yields negatively impacted the value of our bond holdings. Included in net other income for the quarter ended December 31, 2024 were net realized and unrealized losses on marketable securities of ($455,000) compared to net realized and unrealized gains of $1,519,000 for the quarter ended December 31, 2023. The effective income tax rates for the quarters ended December 31, 2024 and December 31, 2023 were 26.0% and 23.0%, respectively. Net income for the quarter ended December 31, 2024 was $3,817,000, or $0.26 per basic and diluted common share, compared to net income of $4,326,000, or $0.30 per basic and diluted common share for the quarter ended December 31, 2023. At December 31, 2024, the Company had $130.1 million of cash and cash equivalents and marketable securities compared to $115.4 million at September 30, 2024. Net working capital was $186.5 million at December 31, 2024 compared to $182.2 million at September 30, 2024. The Company had no short-term or long-term debt outstanding at December 31, 2024. The Company's backlog was $54.4 million at December 31, 2024 compared to $61.3 million at December 31, 2023. Gencor Industries, Inc. is a diversified heavy machinery manufacturer for the production of highway construction materials and equipment and environmental control machinery and equipment used in a variety of applications. GENCOR INDUSTRIES, Consolidated Income StatementsFor the Quarters Ended December 31, 2024 and 2023 2024 2023 Net revenue $ 31,416,000 $ 26,018,000 Cost of goods sold 22,748,000 18,484,000 Gross profit 8,668,000 7,534,000 Operating expenses: Product engineering and development 677,000 801,000 Selling, general and administrative 3,367,000 3,350,000 Total operating expenses 4,044,000 4,151,000 Operating income 4,624,000 3,383,000 Other income, net: Interest and dividend income, net of fees 989,000 716,000 Realized and unrealized gains (losses) on marketable securities, net (455,000 ) 1,519,000 Total other income, net 534,000 2,235,000 Income before income tax expense 5,158,000 5,618,000 Income tax expense 1,341,000 1,292,000 Net income $ 3,817,000 $ 4,326,000 Net income per common share – basic and diluted $ 0.26 $ 0.30GENCOR INDUSTRIES, Consolidated Balance Sheets ASSETS December 31, 2024 September 30, 2024 Current assets: Cash and cash equivalents $ 39,972,000 $ 25,482,000 Marketable securities at fair value (cost of $89,550,000 at December 31, 2024 and $88,777,000 at September 30, 2024) 90,133,000 89,927,000 Accounts receivable, less allowance for credit losses of $425,000 at December 31, 2024 and $390,000 at September 30, 2024 3,596,000 1,980,000 Contract assets 7,921,000 9,339,000 Inventories, net 59,668,000 63,762,000 Prepaid expenses 1,825,000 2,352,000 Total current assets 203,115,000 192,842,000 Property and equipment, net 11,169,000 11,472,000 Deferred income taxes 3,572,000 3,424,000 Other long-term assets 294,000 383,000 Total Assets $ 218,150,000 $ 208,121,000 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 3,720,000 $ 2,001,000 Customer deposits 7,407,000 5,018,000 Contract liabilities 2,157,000 - Accrued expenses 3,136,000 3,255,000 Current operating lease liabilities 241,000 330,000 Total current liabilities 16,661,000 10,604,000 Unrecognized tax benefits 1,531,000 1,376,000 Total liabilities 18,192,000 11,980,000 Commitments and contingencies Shareholders' equity: Preferred stock, par value $.10 per share; 300,000 shares authorized; none issued - - Common stock, par value $.10 per share; 15,000,000 shares authorized; 12,338,845 shares issued and outstanding at December 31, 2024 and September 30, 2024 1,234,000 1,234,000 Class B Stock, par value $.10 per share; 6,000,000 shares authorized; 2,318,857 shares issued and outstanding at December 31, 2024 and September 30, 2024 232,000 232,000 Capital in excess of par value 12,590,000 12,590,000 Retained earnings 185,902,000 182,085,000 Total shareholders' equity 199,958,000 196,141,000 Total Liabilities and Shareholders' Equity $ 218,150,000 $ 208,121,000 Caution Concerning Forward Looking Statements - This press release and our other communications and statements may contain certain 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the 'Exchange Act'), including statements about the Company's beliefs, plans, objectives, goals, expectations, estimates, projections and intentions. These statements are subject to significant risks and uncertainties and are subject to change based on various factors, many of which are beyond the Company's control. The Company's actual results may differ materially from those set forth in the Company's forward-looking statements depending on a variety of important factors, including the financial condition of the Company's customers, changes in the economic and competitive environments, demand for the Company's products and the timing and consequences of the delays in the Company's regaining compliance with its SEC filing obligations. In addition, the impact of (i) the U.S. government's recent tariff announcements, (ii) the invasion by Russia into Ukraine, and (iii) the conflict between Israel and Hamas, including hostilities involving Iran, as well as actions taken by other countries, including the U.S., in response to such tariff announcements and conflicts, could result in a disruption in our supply chain and higher costs of our products. The words 'may,' 'could,' 'should,' 'would,' 'believe,' 'anticipate,' 'estimate,' 'expect,' 'intend,' 'plan,' 'target,' 'goal,' and similar expressions are intended to identify forward-looking statements. For information concerning these factors and related matters, see the following sections of the Company's Annual Report on Form 10-K for the year ended September 30, 2024: (a) Part I, Item 1A, 'Risk Factors' and (b) Part II, Item 7, 'Management's Discussion and Analysis of Financial Condition and Results of Operations'. However, other factors besides those referenced could adversely affect the Company's results, and you should not consider any such list of factors to be a complete set of all potential risks or uncertainties. Any forward-looking statements made by the Company herein speak as of the date of this press release. The Company does not undertake to update any forward-looking statements, except as required by law. Unless the context otherwise indicates, all references in this press release to the 'Company,' 'Gencor,' 'we,' 'us,' or 'our,' or similar words are to Gencor Industries, Inc. and its subsidiaries. Contact: Eric Mellen, Chief Financial Officer 407-290-6000Error 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
22-07-2025
- Business
- Yahoo
Avery Dennison Q2 Earnings Beat Estimates, Revenues Dip Y/Y
Avery Dennison Corporation AVY has delivered adjusted earnings of $2.42 per share in second-quarter 2025, beating the Zacks Consensus Estimate of $2.38. The bottom line was flat year over one-time items, the company has reported earnings per share (EPS) of $2.41, up from $2.18 in the year-ago quarter. Avery Dennison Corporation Price, Consensus and EPS Surprise Avery Dennison Corporation price-consensus-eps-surprise-chart | Avery Dennison Corporation Quote Avery Dennison's Revenues & Gross Profit Dip Y/Y in Q2 Total revenues dipped 0.7% year over year to $2.22 billion, marginally missing the Zacks Consensus Estimate of $2.23 of sales in the quarter grew 0.6% year over year to $1.58 billion. The gross profit fell 3.6% year over year to $639 general and administrative expenses were $352 million compared with the $374 million incurred in the year-ago quarter. The adjusted operating profit was around $287 million compared with the prior-year quarter's $289 million. The adjusted operating margin was 12.9% in the quarter, flat compared with the year-ago quarter. AVY's Q2 Segmental Highlights Revenues in the Materials Group segment increased 0.2% year over year to $1.55 billion in the second quarter. The reported figure exceeded our estimate of $1.54 billion. On an organic basis, sales decreased 1%. We predicted organic sales to rise 2.3%. The segment's adjusted operating profit dipped 0.8% year over year to $242.5 in the Solutions Group were down 2.6% year over year to $670 million. We estimated revenues of $659 million for this segment. On an organic basis, sales fell 0.8%. Our model predicted a rise of 1.1%. The segment's adjusted operating income decreased 4% year over year to $67 million. Avery Dennison's Cash & Debt Position AVY returned $503 million in cash to its shareholders through share repurchases and dividend payments in the first half of 2025. The company repurchased 2 million shares throughout the first Dennison ended the quarter with cash and cash equivalents of $216 million compared with $209 million at the second quarter 2024 end. The company's long-term debt was $2.63 billion at the end of the quarter under review, up from $2.05 billion at the end of the second quarter of realized approximately $30 million in pre-tax savings from restructuring (net of transition costs) in the first six months of 2025. AVY's Guidance for Q3 The company expects adjusted EPS between $2.24 and $2.40 for third-quarter 2025. Avery Dennison Stock's Price Performance AVY shares have lost 18.7% in the past year compared with the industry's 6.1% decline. Image Source: Zacks Investment Research AVY's Zacks Rank Avery Dennison currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Industrial Product Stocks Awaiting Results Ball Corporation BALL is scheduled to release its second-quarter 2025 results on Aug. 5. The Zacks Consensus Estimate for BALL's second-quarter 2025 earnings is pegged at 87 cents per share, suggesting year-over-year growth of 17.6%.The Zacks Consensus Estimate for Ball Corp's top line is pegged at $3.15 billion, suggesting growth of 6.6% from the prior-year figure. Ball Corp has a trailing four-quarter average surprise of 4.9%.Silgan Holdings Inc. SLGN is scheduled to release its second-quarter 2025 results on July 30. The Zacks Consensus Estimate for SLGN's second-quarter 2025 earnings is pegged at $1.03 per share, indicating a year-over-year rise of 17%.The Zacks Consensus Estimate for Silgan Holdings' top line is pegged at $1.53 billion, suggesting an increase of 11.1% from the prior-year figure. Silgan Holdings has a trailing four-quarter average surprise of 2.1%.AptarGroup, Inc. ATR is scheduled to release its second-quarter 2025 results on July 31. The Zacks Consensus Estimate for AptarGroup's second-quarter 2025 earnings is pegged at $1.58 per share, suggesting year-over-year growth of 15.3%.The Zacks Consensus Estimate for the company's top line is pegged at $946.1 million, suggesting growth of 3.9% from the prior-year figure. ATR has a trailing four-quarter average surprise of 7.3%. 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 Silgan Holdings Inc. (SLGN) : Free Stock Analysis Report Avery Dennison Corporation (AVY) : Free Stock Analysis Report AptarGroup, Inc. (ATR) : Free Stock Analysis Report Ball Corporation (BALL) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Yahoo
10-07-2025
- Business
- Yahoo
PageGroup sees jobs market remain under pressure amid tariff uncertainty
Recruitment giant PageGroup has flagged tariff uncertainty weighing on the jobs market as it revealed further trading woes and axed more roles to save costs. The firm saw gross profit drop 13.1% in the second quarter – down 10.5% with currency movements stripped out – despite a slight recovery in the US and Asia. In the UK, gross profit tumbled 14.3% to £23 million, while trading worsened in France and Germany, down 20% and 21% respectively. PageGroup cut its workforce by nearly another 200 in the second quarter as it looked to offset the difficult market, with its fee earning team reduced by 133 or 2.5% to 5,163. The group also cut 61 back office roles in the quarter. But shares lifted 3% in morning trading as the fall was not as bad as many in the City feared, while PageGroup said it was 'broadly' on track with annual profit forecasts. Nicholas Kirk, chief executive of PageGroup, said the results came against a backdrop of 'ongoing market and tariff-related uncertainty, with mixed results across the group'. He added: 'The conversion of accepted offers to placements remained the most significant area of challenge, as ongoing macroeconomic uncertainty continued to impact confidence, which extended time to hire. 'Permanent recruitment continued to be impacted more than temporary, as clients sought flexible options and permanent candidates remained reluctant to move jobs.' PageGroup said the UK market remained 'tough but stable, having delivered a similar growth rate as the previous three quarters'. Time to hire in the UK was being held back by 'ongoing subdued levels of client and candidate confidence', according to the group. It cut 56 roles in its UK operation between April and June. PageGroup said overall in the first half, gross profits fell 12.3% or 9.7% on a constant currency basis. It is forecasting full-year operating profit to more than halve, to around £22 million from £52.4 million in 2024.
The Independent
10-07-2025
- Business
- The Independent
PageGroup sees jobs market remain under pressure amid tariff uncertainty
Recruitment giant PageGroup has flagged tariff uncertainty weighing on the jobs market as it revealed further trading woes and axed more roles to save costs. The firm saw gross profit drop 13.1% in the second quarter – down 10.5% with currency movements stripped out – despite a slight recovery in the US and Asia. In the UK, gross profit tumbled 14.3% to £23 million, while trading worsened in France and Germany, down 20% and 21% respectively. PageGroup cut its workforce by nearly another 200 in the second quarter as it looked to offset the difficult market, with its fee earning team reduced by 133 or 2.5% to 5,163. The group also cut 61 back office roles in the quarter. But shares lifted 3% in morning trading as the fall was not as bad as many in the City feared, while PageGroup said it was 'broadly' on track with annual profit forecasts. Nicholas Kirk, chief executive of PageGroup, said the results came against a backdrop of 'ongoing market and tariff-related uncertainty, with mixed results across the group'. He added: 'The conversion of accepted offers to placements remained the most significant area of challenge, as ongoing macroeconomic uncertainty continued to impact confidence, which extended time to hire. 'Permanent recruitment continued to be impacted more than temporary, as clients sought flexible options and permanent candidates remained reluctant to move jobs.' PageGroup said the UK market remained 'tough but stable, having delivered a similar growth rate as the previous three quarters'. Time to hire in the UK was being held back by 'ongoing subdued levels of client and candidate confidence', according to the group. It cut 56 roles in its UK operation between April and June. PageGroup said overall in the first half, gross profits fell 12.3% or 9.7% on a constant currency basis. It is forecasting full-year operating profit to more than halve, to around £22 million from £52.4 million in 2024.
