Vestas Q3 Profit Declines; Updates Full Year Outlook – Quick Facts

Vestas Wind Systems A/S (VWDRY.PK) said third quarter revenue increased from a year ago, while EBIT decreased as a consequence of supply chain challenges. The company noted that the supply chain instability and cost inflation caused by the pandemic is continuing to impact the wind power industry.

Vestas updated its full-year guidance on EBIT margin before special items, which is now expected to be around 4 percent (previously 5-7 percent). The company still expects revenue of 15.5-16.5 billion euros.

Third quarter EBIT before special items declined to 325 million euros from 412 million euros, prior year. EBIT margin before special items was 5.9 percent, compared to 8.6 percent.

Profit for the period declined to 123 million euros from 290 million euros, prior year. Earnings per share was 0.12 euros compared to 0.29 euros.

Revenue was 5.54 billion euros, an increase of 16 percent from previous year. The company said the increase was particularly driven by the inclusion of the offshore business and higher service revenue.

Qorvo, Inc. Q2 adjusted earnings Beat Estimates

Qorvo, Inc. (QRVO) released a profit for its second quarter that increased from last year.

The company’s earnings came in at $319.19 million, or $2.84 per share. This compares with $136.92 million, or $1.18 per share, in last year’s second quarter.

Excluding items, Qorvo, Inc. reported adjusted earnings of $384.54 million or $3.42 per share for the period.

Analysts had expected the company to earn $3.25 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 18.9% to $1.26 billion from $1.06 billion last year.

Qorvo, Inc. earnings at a glance:

-Earnings (Q2): $384.54 Mln. vs. $282.29 Mln. last year.
-EPS (Q2): $3.42 vs. $2.43 last year.
-Analysts Estimate: $3.25
-Revenue (Q2): $1.26 Bln vs. $1.06 Bln last year.

-Guidance:
Next quarter EPS guidance: $2.75
Next quarter revenue guidance: $1.09 – $1.12 Bln

OLB Group Stock Surges 70% On Support For Mastercard Cryptocurrency Processing

Shares of OLB Group, Inc. (OLB) are surging nearly 70% on Tuesday morning after the company announced support for Mastercard cryptocurrency processing.

OLB is currently trading at $7.72, up $3.13 or 68.17%, on the Nasdaq, on a volume of 51 million shares, far above average volume of about 1 million shares.

OLB Group, a provider of cloud-based omnicommerce and payment acceptance solutions for small- and mid-sized merchants and Bitcoin mining company, announced that it is ready to process Mastercard Bitcoin payments immediately.

Merchants utilizing OLB’s OmniSoft business management platform and the company’s SecurePay Payment Gateway Platform can activate Mastercard cryptocurrency transaction processing at any time.

“The recent announcement from Mastercard that it is supporting cryptocurrency should accelerate public acceptance of Bitcoin and other currencies for conducting everyday business,” said Ronny Yakov, chief executive officer for the OLB Group. “We have enabled crypto commerce throughout our OmniSoft and SecurePay portfolio which enables merchants to offer a broad choice of payment options that match customer’s expectations.”

Ducati’s Scrambler Desert Sled Fasthouse now in India

Ducati has launched a new special edition of its Scrambler Desert Sled adventure bike called the Fasthouse in India. Priced at ₹ 10.99 lakh (ex-showroom, India), the Fasthouse is distinguished by a unique paint scheme that it sports as a homage to Jordan Graham’s victory in the Hooligan class of the Mint 400 — one of America’s oldest off-road races.

The effort was backed by American apparel brand Fasthouse, which also offers a limited range of riding gear, including helmets, in collaboration with Bell.

The livery features an overall dark theme contrasted by the bright red shade of the frame and the yellow spring on the monoshock. The striped fuel tank and grille on the headlight are the most distinctive elements of the design.

Other small changes to the Fasthouse include a new grippier seat, a raised front mudguard and an extended rear fender. Mechanically, the bike is identical to the standard Desert Sled, meaning that it is powered by a 73hp, 66.2Nm, air-cooled 803cc L-twin motor, housed in a trellis frame and suspended on a 46mm upside-down fork and monoshock.

The Fasthouse is limited to just 800 units globally, and all bikes allocated for India are already sold out.

Semler Scientific Stock Down 25% On Quarterly Results

Shares of Semler Scientific Inc. (SMLR) are currently down nearly 25% on Tuesday morning, hurt largely by its third-quarter results.

SMLR is currently trading at $113.02, down $36.74 or 24.53%, on the Nasdaq.

On Monday, the company reported third-quarter profit of $4.2 million or $0.51 per share, a decrease from $4.9 million or $0.61 per share reported last year. Analysts polled by Thomson Reuters expected earnings of $0.64 per share for the quarter.

Revenues for the quarter increased 30% to $14.0 million from $10.7 million last year.

Novo Nordisk 9-month Net Profit Rises

Danish pharmaceutical company Novo Nordisk A/S (NVO) reported that its net profit for the first nine months of 2021 rose 12% to 36.87 billion Danish kroner from last year’s 32.82 billion kroner, with earning per share improving to 15.98 kroner from 14.00 kroner in the previous year.

Operating profit for the period increased by 5% year-over-year to 45.01 billion kroner, while it was up 12% at constant exchange rates.

Sales for the period increased by 8% in Danish kroner and by 13% at CER to 102.5 billion kroner.

Sales in International Operations increased by 10% in Danish kroner or 13% at CER, and sales in North America Operations increased by 6% in Danish kroner or 13% at CER.

On 29 October, the 2021 outlook was raised with sales growth and operating profit growth now both expected to be 12-15% at CER. Sales and operating profit growth reported in Danish kroner is now expected to be 3 and 4 percentage points lower than at CER, respectively. The ongoing share buyback program is expanded by 2.0 billion kroner to 20 billion kroner.