Salzgitter Q1 Earnings Fall; Backs FY23 View

Salzgitter AG (SZGPF.PK,SZGPY.PK), a German steel producer, on Monday reported a decline in preliminary earnings for the first quarter of 2023.

In addition, the company has reaffirmed its fiscal 2023 guidance.

For the three-month period, the steel firm posted a pre-tax income of 183 million euros, lesser than 465 million euros recorded for the first quarter of 2022.

EBITDA was at 290 million euros as against last year’s 548 million euros.

The company is scheduled to release its first-quarter results on May 10.

Looking ahead, for the full year 2023, Salzgitter still projects a pre-tax income of 300 million euros to 400 million euros, with EBITDA of 750 million euros to 850 million euros, on sales of 13 billion euros.

The prior year’s sales were 12.6 billion euros.

Wipro to consider buyback proposal

IT services major Wipro is reconsidering a proposal of buy back of equity shares, said the company in a regulatory filing.

A final decision on this will be taken during the board meeting to be held on April 26-27.

The outcome of the board meeting will be communicated to the stock exchanges soon after conclusion on April 27.

Wipro will also announce its Q4 FY23 and FY23 annual results on the same day.

Wipro had initiated a buyback programme worth Rs 9,500 crore in 2020.

The company completed it in 2021.

In January 2021, it announced that it had completed the buyback. In a regulatory filing, it said, “23,75,00,000 equity shares were bought back under the buyback, at a price of Rs 400 per equity share.

“The total amount utilised in the buyback is Rs 9,500 crore.”

In the recent past, all top Indian IT firms have resorted to buyback programmes.

TCS, India’s largest IT services firm, had carried out a buyback programme in 2022.

The buyback share price per share was Rs 4,500 crore with a total buyback size of Rs 18,000 crore.

Infosys, too, had announced its buyback programme in 2022.

Wipro to consider buyback proposal

IT services major Wipro is reconsidering a proposal of buy back of equity shares, said the company in a regulatory filing.

A final decision on this will be taken during the board meeting to be held on April 26-27.

The outcome of the board meeting will be communicated to the stock exchanges soon after conclusion on April 27.

Wipro will also announce its Q4 FY23 and FY23 annual results on the same day.

Wipro had initiated a buyback programme worth Rs 9,500 crore in 2020.

The company completed it in 2021.

In January 2021, it announced that it had completed the buyback. In a regulatory filing, it said, “23,75,00,000 equity shares were bought back under the buyback, at a price of Rs 400 per equity share.

“The total amount utilised in the buyback is Rs 9,500 crore.”

In the recent past, all top Indian IT firms have resorted to buyback programmes.

TCS, India’s largest IT services firm, had carried out a buyback programme in 2022.

The buyback share price per share was Rs 4,500 crore with a total buyback size of Rs 18,000 crore.

Infosys, too, had announced its buyback programme in 2022.

Joseph Kennedy To Lead US Delegation To Good Friday Agreement Anniversary

President Joe Biden has announced the designation of a Presidential Delegation that will attend the 25th Anniversary of the Belfast/Good Friday Agreement in Belfast, Northern Ireland.

The delegation will participate in the Agreement Twenty-Five conference hosted by Queen’s University Belfast to mark the signing of the agreement and attend the Anniversary Dinner at Hillsborough Castle.

Joseph Kennedy III, Special Envoy to Northern Ireland for Economic Affairs, will lead the delegation.

Jane Hartley, U.S. Ambassador to the U.K. and Northern Ireland; Claire D. Cronin, U.S. Ambassador to Ireland; Dr. Amanda Sloat, Special Assistant to the President and Senior Director for Europe, National Security Council; and Paul Narain, Consul General in Belfast, are the othjer members of the delgation.

The Belfast Agreement, also known as the Good Friday Agreement, brought an end to 30 years of conflict in Northern Ireland between its Protestant majority and large Catholic minority.

The deal, signed on 1998 April 10 between parties on all sides of the religious and political divide in Belfast, paved the way for power-sharing in Northern Ireland.

The historic deal is being commemorated in a series of events in April. President Joe Biden last week visited Northern Ireland to mark the anniversary.

ENNIS INC Bottom Line Climbs In Q4

ENNIS INC (EBF) revealed earnings for its fourth quarter that increased from the same period last year

The company’s earnings totaled $12.193 million, or $0.47 per share. This compares with $6.655 million, or $0.26 per share, in last year’s fourth quarter.

The company’s revenue for the quarter rose 3.0% to $102.692 million from $99.665 million last year.

ENNIS INC earnings at a glance (GAAP) :

-Earnings (Q4): $12.193 Mln. vs. $6.655 Mln. last year.
-EPS (Q4): $0.47 vs. $0.26 last year.
-Revenue (Q4): $102.692 Mln vs. $99.665 Mln last year.

Bank Of Hawai'i Q1 Net Income Declines

Bank of Hawai’i Corporation (BOH) reported first quarter earnings per common share of $1.14, compared with $1.32, prior year. On average, six analysts polled by Thomson Reuters expected the company to report profit per share of $1.23, for the quarter. Analysts’ estimates typically exclude special items. Net income was $46.8 million, down 14.6% from the same quarter of 2022.

Net interest income was $136.0 million, an increase of 8.5% from the same quarter of 2022. Noninterest income was $40.7 million, a decrease of 6.5% from the same period in 2022. Analysts on average had estimated $179.42 million in revenue.

The company’s Board declared a quarterly cash dividend of $0.70 per share on outstanding common shares. The dividend will be payable on June 14, 2023 to shareholders of record at the close of business on May 31, 2023.

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