Netflix Inc. Bottom Line Advances In Q2, Beats estimates

Netflix Inc. (NFLX) announced a profit for its second quarter that increased from the same period last year and beat the Street estimates.

The company’s earnings totaled $1.49 billion, or $3.29 per share. This compares with $1.44 billion, or $3.20 per share, in last year’s second quarter.

Analysts on average had expected the company to earn $2.86 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 2.8% to $8.19 billion from $7.97 billion last year.

Netflix Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $1.49 Bln. vs. $1.44 Bln. last year.
-EPS (Q2): $3.29 vs. $3.20 last year.
-Analyst Estimate: $2.86
-Revenue (Q2): $8.19 Bln vs. $7.97 Bln last year.

-Guidance:
Next quarter revenue guidance: $8.5 Bln

Crown Castle Q2 Profit Rises, Lowers Outlook

Crown Castle Inc. (CCI) on Wednesday reported a second-quarter profit that rose from last year.

The company reported a net income of $455 million or $1.05 per share for the quarter, up from $421 million or $0.97 per share the prior year. Analysts expected earnings of $1.05 per share.

Adjusted AFFO was $891 million or $2.05 per share, compared to $783 million or $1.80 per share the prior year.

Revenue increased to $1.87 billion from $1.73 billion the previous year. It beat the consensus estimate of $1.86 billion.

Crown Castle expects full-year adjusted FFO guidance to be $7.50 to $7.58 per share, which is $0.09 down from its prior outlook.

Heritage-Crystal To Be Acquired By J.F. Lehman & Company For $1.2 Bln

Heritage-Crystal Clean, Inc (HCCI) on Wednesday announced that it has entered into a definitive merger agreement to be acquired by an investment affiliate of J.F. Lehman & Company (JFLCO), in an all-cash transaction that values Crystal Clean at approximately $1.2 billion.

Under the terms of the agreement, JFLCO will acquire all the outstanding shares of Crystal Clean for $45.50 per share in cash. The purchase price represents a premium of approximately 24.9% to Crystal Clean’s 60-day volume-weighted average price on July 19, 2023.

The transaction is expected to close in the fourth quarter of 2023. Upon completion of the transaction, Crystal Clean will become a privately held company, and shares of Crystal Clean’s common stock will no longer be listed on the Nasdaq Stock Exchange or traded in any other public market.

Wednesday, the stock was trading at $45.15 in the after-hours, up 7.65% or $3.21 a share, on the New York Stock Exchange.

HelloFresh Says Achieved Its Highest Ever Quarterly Adj. EBITDA In Q2; Narrows FY Outlook

HelloFresh SE said that, based on preliminary indications, it has achieved its highest ever quarterly consolidated adjusted EBITDA in the second quarter of 2023.

Consolidated adjusted EBITDA for the second quarter of 2023 is expected to amount to between about 185 million euros and about 195 million euros compared to 146 million euros reported last year.

Consolidated revenue of the company for the second quarter of 2023 is expected to grow year-on-year on a constant currency basis by about 1% and is expected to amount on a Euro reported basis to about 1.918 billion euros compared to 1.957 billion euros reported last year.

The company narrowed its revenue growth outlook for the fiscal year 2023 for the HelloFresh Group on a constant currency basis from previously between 2% and 10% to now between 2% and 8%.

The company also narrowed its outlook regarding the adjusted EBITDA for the HelloFresh Group for the fiscal year 2023 from previously between 460 million euros and 540 million euros to now between 470 million euros and 540 million euros.

The company will publish its financial statements for the second quarter and the first six months of 2023 as scheduled on 10 August 2023.

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Daimler Truck Q2 Preliminary Results Above Market Expectations

Daimler Truck Holding AG said that its preliminary second-quarter results were above market expectations, citing a strong sales, a robust pricing and a positive performance of the aftersales business.

The company’s second-quarter earnings before interest and tax or EBIT was 1.38 billion euros, higher than the 1.28 billion euros average analyst estimate provided by the company.

Quarterly adjusted EBIT was 1.43 billion euros compared to 1.29 billion euros average analyst estimate provided by the company.

The company said it will publish full quarterly results on August 1st, 2023.

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ABB Q2 Profit Surges, Orders Down; Sees Growth In Q3, Backs FY23 Revenue Growth View

Swiss engineering company ABB Ltd.(ANN.L,ABB) reported Thursday that its second-quarter net income attributable to ABB surged 139 percent to $906 million from last year’s $379 million.

Basic earnings per share were $0.49, up 145 percent from $0.20 a year ago.

Operational EBITA grew 25 percent to $1.43 billion from last year’s $1.14 billion.

Revenues for the quarter climbed 13 percent to $8.16 billion from last year’s $7.25 billion. Comparable revenues went up 17 percent.

In the quarter, orders meanwhile dropped 2 percent to $8.67 billion from prior year’s $8.81 billion. Orders grew 2 percent on a comparable basis.

Looking ahead for the third quarter, ABB expects a low double-digit comparable revenue growth and the Operational EBITA margin to be slightly up from the 16.6 percent reported in the third quarter last year.

In fiscal 2023, despite current market uncertainty, the company still anticipates comparable revenue growth to be at least 10 percent.

The company now projects annual operational EBITA margin to be above 16 percent, while previous expectation was to improve Operational EBITA margin.

Bjorn Rosengren, CEO, said, “The positive book-to-bill ratio and new record-high Operational EBITA earnings and margin add to our confidence about ABB’s 2023 outcome allowing us to sharpen our margin expectations.”

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