Woodside Energy H1 Profit, Production Climb; Stock Down

Australia’s Woodside Energy Group Ltd. (WOPEF.PK,WOPEY.PK,WPL.AX) reported that its first-half net profit after tax was $1.74 billion, up 6 percent from last year’s $1.64 billion.

Underlying net profit after tax was $1.90 billion, compared to prior year’s $1.82 billion.

Adjusted EBIT, meanwhile, dropped 6 percent from the prior year to $2.79 billion. Adjusted EBITDA excluding impairment grew 23 percent year-over-year to $4.89 billion.

Operating revenue was $7.40 billion, a growth of 27 percent from last year’s $5.81 billion.

Production for the first half was 91.3 million barrels of oil equivalent, 66 percent higher than last year, the company noted.

Further, the Directors have declared an interim dividend of 80 US cents per share, representing an approximately 80 percent payout of underlying net profit after tax.

In Australia, Woodside Energy shares were trading at A$37.85, down 1.57 percent.

Geely Automobile H1 Earnings Edge Up

Geely Automobile Holdings Limited (GELYF.PK) an electric vehicle manufacturer, on Tuesday reported higher earnings for the first half of the year on higher revenues.

Half yearly earnings edged up 1 percent to RMB 1.57 billion or 14.75 RMB cents from RMB 1.55 billion or 14.71 RMB cents of last year.

Revenues increased by 26 percent to RMB 73.18 billion from RMB 58.18 billion of the previous year.

The company said it chose not to pay any interim dividend.

Looking ahead, Geely Automobile said while the growth in new energy vehicle market is slow, it remains optimistic to hit sales volume target of 1.65 million units for the year.

Currently, shares of Geely are trading at 9.120 HK$, down 1.30% on the Hong Kong Stock Exchange.

BJ's Wholesale Club Q2 Adj. Profit Declines; Comps. Down 5.3%

BJ’s Wholesale Club Holdings, Inc. (BJ) reported second-quarter net income of $131.3 million compared to $141.0 million, prior year. Earnings per share was $0.97 compared to $1.03. Adjusted net income was $131.2 million, down 9.1% from prior year. Adjusted EPS was $0.97 compared to $1.06. On average, 18 analysts polled by Thomson Reuters expected the company to report profit per share of $0.90, for the quarter. Analysts’ estimates typically exclude special items.

Second-quarter net sales were $4.86 billion, a decline of 2.9% from a year ago. Total revenues were $4.96 billion, a decline of 2.7%. Analysts on average had estimated $5.15 billion in revenue.

Total comparable club sales decreased by 5.3% in the second quarter of fiscal 2023. Excluding the impact of gasoline sales, comparable club sales increased by 1.1% in the second quarter of fiscal 2023.

For fiscal 2023, the company expects comparable club sales, excluding the impact of gasoline sales, to increase approximately 2% year-over-year. The company expects fiscal 2023 GAAP and adjusted EPS to be in the $3.80 to $3.92 range.

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Citi Trends Q2 Loss Widens, But Beats Estimates; Affirms Outlook – Update

(Adds Outlook)

Citi Trends (CTRN) revealed Loss for its second quarter that increased from last year but beat the Street estimates.

The company’s earnings came in at -$5.032 million, or -$0.61 per share. This compares with -$2.536 million, or -$0.31 per share, in last year’s second quarter.

Excluding items, Citi Trends reported adjusted earnings of -$0.60 per share for the period.

Analysts on average had expected the company to earn -$0.97 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter fell 6.2% to $173.554 million from $185.012 million last year.

Outlook:

Looking ahead, for full year 2023, Citi Trends has reaffirmed its outlook. The company still expects its sales growth to be in the range of negative mid single-digits to negative low single-digits. Analysts, on average, expect the firm to post revenue of $751.17 million, for the year.

The company continues to expect EBITDA of $5 million to $20 million, with a capital expenditure range of $15 million – $20 million, for the year.

Citi Trends Q2 earnings at a glance (GAAP) :

-Earnings (Q2): -$5.032 Mln. vs. -$2.536 Mln. last year.
-EPS (Q2): -$0.61 vs. -$0.31 last year.
-Analyst Estimate: -$0.97
-Revenue (Q2): $173.554 Mln vs. $185.012 Mln last year.

Macy's Inc. Q2 Earnings Summary

Below are the earnings highlights for Macy’s Inc. (M):

Earnings: -$22 million in Q2 vs. $275 million in the same period last year.
EPS: -$0.08 in Q2 vs. $0.99 in the same period last year.
Excluding items, Macy’s Inc. reported adjusted earnings of $71 million or $0.26 per share for the period.

Analysts projected $0.13 per share
Revenue: $5.13 billion in Q2 vs. $5.60 billion in the same period last year.

-Guidance:
Full year EPS guidance: $2.70 – $3.20
Full year revenue guidance: $22.8 – $23.2 Bln

Geron: FDA Assigns PDUFA Action Date For NDA For Imetelstat

Geron Corp. (GERN) announced the FDA has assigned a standard review and a Prescription Drug User Fee Act action date of June 16, 2024 for New Drug Application for imetelstat for the treatment of transfusion-dependent anemia in patients with lower risk myelodysplastic syndromes.

Also, the FDA informed the company that it is currently planning to hold an advisory committee meeting as part of the NDA review.

John Scarlett, Geron’s CEO, said: “With the PDUFA date now set, we continue to expect an
imetelstat launch in the United States by the end of the first half of 2024, subject to FDA approval.”

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