Monday, 7 Oct 2024

Brown-Forman Revises Full Year Outlook; Anticipates Organic Income Growth Of 12% To 16%

‘Nightride’ Review: One Last Job

The movie is indebted to neon-lit crime thrillers set behind the wheel of an outlaw’s automobile, but it fails to deliver the goods.

By Calum Marsh

Boss of Bet365 paid almost £300m during first year of Covid

Results show betting firm led by Denise Coates made £470m profit in year to end of March 2021

Last modified on Thu 3 Mar 2022 06.59 EST

Bet365 boss Denise Coates was paid just under £300m in salary and dividends for the first year of the pandemic, as the online gambling firm weathered Covid-19 and benefited from a migration from sports betting as events were cancelled.

Accounts filed at Companies House show that Bet365 made a profit of £470m before tax in the year to the end of March 2021, on revenues that were flat at £2.8bn.

The cancellation of sporting events as a result of the pandemic led to a “significant migration” to other activities such as virtual sports, slot machines and casino products.

Gaming products such as these are associated with significantly higher rates of gambling addiction than sports betting.

The company’s highest-paid director, understood to be Denise Coates, was paid £250m. She also has a share of more than 50% of the company’s £97.5m dividend, taking her total compensation for the year to just under £300m.

The sum is £170m less than her reward for leading the company a year earlier but takes her pay and dividends over the past five years above £1.3bn.

The company made charitable donations, mostly to the Denise Coates Foundation of £103m, up from £89m last year.

Pre-market Movers: INDO, WEAV. SNOW, RSI, CAN…

The following are some of the stocks making big moves in Thursday’s pre-market trading (as of 07.45 A.M. ET).

In the Green

Indonesia Energy Corporation Limited (INDO) is up over 35% at $19.60
Canaan Inc. (CAN) is up over 16% at $6.32
Cedar Realty Trust, Inc. (CDR) is up over 13% at $28.35
Samsara Inc. (IOT) is up over 11% at $18.49
Wheeler Real Estate Investment Trust, Inc. (WHLR) Is up over 10% at $2.20
Pure Storage, Inc. (PSTG) is up over 8% at $28.75
Imperial Petroleum Inc. (IMPP) is up over 8% at $2.24
Titan International, Inc. (TWI) is up over 7% at $12.50
Box, Inc. (BOX) is up over 6% at $27.69
The Manitowoc Company, Inc. (MTW) is up over 5% at $17.55
UserTesting, Inc. (USER) is up over 5% at $10.07
Rigetti Computing, Inc. Common Stock (RGTI) is up over 5% at $9.98

In The Red

Weave Communications, Inc. (WEAV) is down over 27% at $6.77
Snowflake Inc. (SNOW) is down over 20% at $210.52
Rush Street Interactive, Inc. (RSI) is down over 16% at $8.49
Longboard Pharmaceuticals, Inc. (LBPH) is down over 15% at $4.22
Veeva Systems Inc. (VEEV) is down over 9% at $208.49
Ralph Lauren Corporation (RL) is down over 9% at $116.00
Turtle Beach Corporation (HEAR) is down over 7% at $20.90
Eco Wave Power Global AB (publ) (WAVE) is down over 6% at $3.87
American Eagle Outfitters, Inc. (AEO) is down over 5% at $20.24

‘After Yang’ Review: Do Androids Dream of Sheep, Babysitting, Being?

Colin Farrell plays a father who tries to repair the family’s caretaker-android in a science-fiction tale about what it means to be human.

By Manohla Dargis

When you purchase a ticket for an independently reviewed film through our site, we earn an affiliate commission.

Celebrity Hairstylist Adir Abergel Shares His Beauty Routine

Plus: a starry-eyed sneaker collaboration, a monograph of nudes and more recommendations from T Magazine.

‘We Are a Film Festival First.’ A Focus on Children Comes Second.

The New York International Children’s Film Festival returns with a diverse, sophisticated slate, including Richard Linklater’s animated take on the 1969 moon landing.

By Laurel Graeber

Marcus Swings To Profit In Q4

Marcus Corp. (MCS) reported on Thursday that net income attributable to the company was $6.44 million or $0.18 per share for the fourth quarter, compared to a net loss of $39.02 million or $1.29 per share in the prior-year quarter.

Total revenues for the quarter soared to $169.05 million from $36.70 million in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report a loss of $0.18 per share on revenues of $154.31 million for the quarter. Analysts’ estimates typically exclude special items.

Brown-Forman Revises Full Year Outlook; Anticipates Organic Income Growth Of 12% To 16%

Brown-Forman Corp. (BFA,BFB) said the company’s business remained strong as it delivered double-digit net sales growth year-to-date, even amid significant supply chain constraints, most notably glass supply. The company believes its accelerated rate of growth keeps it on track to deliver high quality results for fiscal 2022.

Brown-Forman Corp. projects organic net sales growth of 11% to 13% for the full year. It continues to expect reported gross margin to be flat or slightly down for the full year compared to fiscal 2021. Brown-Forman anticipates organic income growth of 12% to 16% for the full year.

For the third quarter, reported operating income increased 24% to $347 million, or was up 43% on an organic basis. Earnings per share increased 19% to $0.54. On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $0.47, for the quarter. Analysts’ estimates typically exclude special items.

Net sales were $1.04 billion increased 14% or up 22% on an organic basis from a year ago. Analysts on average had estimated $983.13 million in revenue.

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