Friday, 21 Jun 2024

BioNTech Q3 Profit Falls, Trims FY23 Vaccine Revenue Outlook

Dish Network Corp. Q3 Earnings Summary

Below are the earnings highlights for Dish Network Corp. (DISH):

Earnings: -$139 million in Q3 vs. $412 million in the same period last year.
EPS: -$0.26 in Q3 vs. $0.65 in the same period last year.
Analysts projected $0.04 per share
Revenue: $3.70 billion in Q3 vs. $4.10 billion in the same period last year.

Gold Dips As Long-term Bond Yields Rebound

Gold prices were slightly lower on Monday following a slight uptick in U.S. Treasury yields, as investors took stock of the latest developments in the Middle East and looked ahead to a speech by Fed Chair Jerome Powell later this week for more clarity on the interest rate outlook.

Spot gold dipped 0.3 percent to $1,986.72 per ounce, while U.S. gold futures were down 0.3 percent at $1,993.65.

U.S. long-term bond yields rebounded while the dollar remained on the back foot, helping cap bullion’s downside.

Many Federal Reserve policymakers including Fed Chair Jerome Powell, and officials from the BoE and ECB are due to speak this week as investors await more clarity on the outlook for rates. Powell will speak on Wednesday.

It is widely believed that the Fed may not hike interest rates any further. Futures markets currently imply an 86 percent chance the first policy easing would come as soon as June.

Markets also expect the European Central Bank to cut rates by April, and the Bank of England in August.

The Reserve Bank of Australia is expected to resume rates at a policy meeting on Tuesday to control stubborn inflation.

Earlier today, BOJ governor said the country was making progress toward stable inflation and monetary conditions will remain sufficiently accommodative to support economic activity.

Eversource Energy Q3 Profit Decreases, misses estimates

Eversource Energy (ES) reported earnings for third quarter that decreased from the same period last year and missed the Street estimates.

The company’s earnings totaled $339.66 million, or $0.97 per share. This compares with $349.41 million, or $1.00 per share, in last year’s third quarter.

Excluding items, Eversource Energy reported adjusted earnings of $339.7 million or $0.97 per share for the period.

Analysts on average had expected the company to earn $0.99 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter fell 13.4% to $2.79 billion from $3.22 billion last year.

Eversource Energy earnings at a glance (GAAP) :

-Earnings (Q3): $339.66 Mln. vs. $349.41 Mln. last year.
-EPS (Q3): $0.97 vs. $1.00 last year.
-Analyst Estimates: $0.99
-Revenue (Q3): $2.79 Bln vs. $3.22 Bln last year.

Full year EPS guidance: $4.30 to $4.43

DISH Network Slips To Q3 Loss With Weak Revenues

DISH Network Corp. (DISH) reported Monday that its third-quarter net loss attributable to the company totaled $139 million, compared to last year’s net income of $412 million.

Loss per share was $0.26 for the third quarter, compared to earnings per share of $0.65 a year ago.

Revenue for the quarter totaled $3.70 billion, compared to $4.10 billion for the corresponding period in 2022.

Analysts on average expected the company to report earnings of $0.04 per share on revenues of $3.72 billion, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

Net pay-TV subscribers decreased approximately 64,000 in the third quarter, compared to a net increase of around 30,000 in the year-ago quarter.

Retail wireless net subscribers fell by around 225,000 in the third quarter, compared to a net increase of 1,000 in the year-ago quarter.

In pre-market activity on Nasdaq, Dish shares were losing around 1.6 percent to trade at $5.40.

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Hilton Grand Vacations To Acquire Bluegreen Vacations – Quick Facts

Hilton Grand Vacations Inc. (HGV) has entered into a definitive agreement to acquire Bluegreen Vacations (BVH) for $75 per share, representing total consideration
of approximately $1.5 billion, inclusive of net debt. Hilton Grand Vacations also announced that it has signed a new 10-year exclusive marketing agreement with Bass Pro Shops.

The deal is expected to increase HGV’s membership base from 525,000 to more than 740,000 owners and resort portfolio from 150 to nearly 200 properties. HGV’s management team, including CEO Mark Wang, CFO Dan Mathewes, and chief operating officer Gordon Gurnik, will continue to serve in their current roles in the combined company.

Core & Main Expects Q3 Net To Decline, But Rise In Sales

Core & Main Inc. (CNM), a specialized distributor of water, wastewater, storm drainage, and fire protection products, on Monday announced preliminary financial results for the third-quarter of 2023.

For the third-quarter, the company expects net profit of $153 million to $163 million.

For the third-quarter of 2022, CNM had registered a profit of $178 million.

EBITDA is seen in the range of $252 million to $258 million.
For the third-quarter of 2022, Core & Main had recorded EBITDA of $271 million.

For the three-month period, sales are anticipated to be in the range of $1.822 billion to $1.832 billion.

On average, 10 analysts polled by Thomson Reuters forecast the firm to post revenue of $1.84 billion, for the quarter.

For the third-quarter of 2022, the company’s sales stood at $1.818 billion.

BioNTech Q3 Profit Falls, Trims FY23 Vaccine Revenue Outlook

BioNTech SE (BNTX) Monday announced a sharp fall in third-quarter earnings compared to the prior year, as the commercial revenues were down sharply. The company revised down its COVID-19 vaccine revenues for the full year 2023.

The quarterly earnings were 160.6 million euros or 0.67 cents, down from 1.784 billion euros or 6.98 cents in the prior year.

On average, 2 analysts polled by Thomson Reuters were looking for earnings of $0.62 per share. Analysts’ views usually exclude special items.

Revenue for the quarter declined to 895.3 million euros from 3.461 billion euros a year ago. Commercial revenues were 893.7 million euros, down from 3.394 billion last year. R&D expenses surged to 497.9 million from 341.8 million euros in the prior year.

For the full year 2023, the company now expects COVID-19 vaccine revenues to be 4 billion euros compared to its March outlook of 5 billion euros. Research and Development expenses are now projected to be in the range of 1.8 to 2.00 billion euros, while the March projection was in the range of 2.4 to 2.6 billion euros.

Currently, in the Nasdaq pre-market, shares are at $98.86, up 3.22 percent from the previous close of $92.49.

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