Glanbia FY22 Profit Climbs, Confirms FY23 Growth View; To Buy Back Up To EUR 50 Mln Shares

Glanbia plc (GLB.L), a better nutrition company, reported Wednesday that its fiscal 2022 profit after tax climbed to 256.8 million euros from last year’s 167.4 million euros.

Basic earnings per share were 93.42 cents, up from 57.57 cents a year ago.

Profit after tax from continuing operations was 199.6 million euros, compared to 141.0 million euros last year.

Basic earnings per share from continuing operations were 72.67 cents, compared to last year’s 48.47 cents.

Adjusted earnings per share were 104.02 cents, compared to 87.15 cents last year.

Group revenues for the year were 5.64 billion euros, up 34.4 percent from 4.20 billion euros a year ago. Revenues grew 21.2 percent at constant currency.

Looking ahead for fiscal 2023, Glanbia expects to deliver adjusted earnings per share growth of 5 percent to 10 percent constant currency, which will be driven by a strong operating performance in the better nutrition businesses.

The company reaffirmed the financial targets for the period 2023 to 2025 as set out at the recent capital markets event.

Separately, Glanbia announced that it will commence a share buy-back programme of up to 50 million euros in total value in ordinary shares starting today.

The purpose of the share buy-back programme is to reduce the share capital of the Company.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.

International Personal Finance FY Pretax Profit Rises

International Personal Finance plc (IPF.L) reported profit before tax of 77.4 million pounds for the year ended 31 December 2022 compared to 67.7 million pounds, prior year. Earnings per share was 24.3 pence compared to 17.8 pence. Pre-exceptional earnings per share increased to 19.8 pence from 17.8 pence.

Fiscal year revenue was 645.5 million pounds compared to 548.7 million pounds, last year. Revenue less impairment increased to 538.8 million pounds from 492.5 million pounds.

The Board declared a 12.1% increase in the final dividend to 6.5 pence per share. This is in line with the Group’s progressive dividend policy and brings the full-year dividend to 9.2 pence per share, an increase of 15% on 2021.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.

Twitter Down: Elon Musk’s Social Network Suffers Outages On Wednesday Morning

Twitter went down on Wednesday morning, with thousands of users reporting outages.

According to Down Detector, the issues started just after 2.15AM Pacific Time time and affected users worldwide.

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Gold Edges Higher On Weaker Dollar

Gold inched higher on Wednesday as the dollar weakened on improved risk sentiment after the release of upbeat Chinese data.

Spot gold rose 0.3 percent to $1,831.80 per ounce, while U.S. gold futures were marginally higher at $1,838.55.

The dollar is coming under pressure after key measures of Chinese manufacturing and non-manufacturing showed a strong recovery in February.

China’s official manufacturing Purchasing Managers’ Index (PMI) shot up to 52.6 from 50.1 in January, smashing expectations after the country abruptly lifted COVID-19 curbs.

China’s nonmanufacturing activity also grew at a faster pace in February and the private sector index from Caixin/S&P showed factory activity rising for the first time in seven months, helping ease investor fears over rising interest rates.

Elsewhere in Europe, the euro zone final manufacturing PMI for February came in at 48.5, matching the initial estimate. Separate data showed Germany’s jobless rate held stable at low levels in February.

U.S. manufacturing data will be in focus in the New York session.

Lowe's Guides FY23 Earnings In Line With Estimates – Update

While reporting financial results for the fourth quarter on Wednesday, home improvement retailer Lowe’s Cos., Inc. (LOW) initiated its earnings, total sales and comparable sales guidance for the full-year 2023.

For fiscal 2023, the company now projects earnings in a range of $13.60 to $14.00 per share on total sales between $88 billion and $90 billion. Comparable sales are expected to range from flat to down 2 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $13.79 per share on sales of $90.48 billion for the year. Analysts’ estimates typically exclude special items.

For the fourth quarter, comparable sales for the fourth quarter decreased 1.5 percent, and comparable sales for the U.S. home improvement business decreased 0.7 percent.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

Oil Prices Edge Lower In Choppy Trade

Oil prices fell in choppy trading on Wednesday as industry data showing another sharp rise in crude stockpiles offset optimism about increased demand from China.

Benchmark Brent crude futures slipped 0.3 percent to $83.17 a barrel, while WTI crude futures were down half a percent at $76.67.

Data from the American Petroleum Institute showed that stocks in the United States, the world’s biggest oil consumer and producer, rose by 6.2 million barrels in the week ended February 24.

Further, a Reuters survey found that OPEC pumped 28.97 million barrels per day (bpd) in February, up by 150,000 bpd from January.

On the positive side, strong manufacturing data from China helped offset investor concerns over stubborn inflation and fears of further U.S. interest-rate hikes.

Elsewhere in Europe, the euro zone final manufacturing PMI for February came in at 48.5, matching the initial estimate. Separate data showed Germany’s jobless rate held stable at low levels in February.

Inventory data from the Energy Information Administration and U.S. manufacturing data will be in focus in the New York session.