Xilinx Inc. Q2 adjusted earnings Beat Estimates

Xilinx Inc. (XLNX) announced a profit for its second quarter that advanced from the same period last year.

The company’s profit totaled $234.55 million, or $0.94 per share. This compares with $193.82 million, or $0.79 per share, in last year’s second quarter.

Excluding items, Xilinx Inc. reported adjusted earnings of $265.83 million or $1.06 per share for the period.

Analysts had expected the company to earn $0.87 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 22.1% to $935.77 million from $766.54 million last year.

Xilinx Inc. earnings at a glance:

-Earnings (Q2): $265.83 Mln. vs. $203.41 Mln. last year.
-EPS (Q2): $1.06 vs. $0.82 last year.
-Analysts Estimate: $0.87
-Revenue (Q2): $935.77 Mln vs. $766.54 Mln last year.

Opinion | J.D. Vance’s Hillbilly Hypocrisy

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Illinois Tool Works Slashes FY21 Outlook – Quick Facts

While reporting financial results for the third quarter on Thursday, Illinois Tool Works, Inc. (ITW) slashed its earnings, revenue and organic revenue guidance for the full-year 2021.

For fiscal 2021, the company now projects earnings in the range of $8.30 to $8.50 per share on revenue growth of 13 to 14 percent, with organic revenue growth of 11 to 12 percent.

Previously, the company expected earnings in the range of $8.55 to $8.95 per share on revenue growth of 14 to 16 percent, with organic revenue growth of 11 to 13 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $8.69 per share on revenue growth of 14.7 percent to $14.42 billion for the year. Analysts’ estimates typically exclude special items.

For the third quarter, net income increased to $639 million or $2.02 per share from $582 million or $1.83 per share in the year-ago quarter. Revenues for the quarter grew 8 percent to $3.56 billion from $3.31 billion in the same quarter last year, with organic revenue growth of 6 percent. The Street was looking for earnings of $2.01 per share on revenue of $3.56 billion for the quarter.

Tax rises likely to leave millions of middle income earners ‘worse-off’

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Paul Johnson, the director of the IFS, said he expected “millions will be worse off in the short term”. In its analysis of Rishi Sunak’s Autumn Budget yesterday, the IFS said that high inflation, rising taxes, and poor growth – undermined more by Brexit than by the pandemic – will see real living standards barely rising and, for many, falling over the next year.

In its analysis of Rishi Sunak’s Autumn Budget yesterday, the IFS said that high inflation, rising taxes, and poor growth – undermined more by Brexit than by the pandemic – will see real living standards barely rising and, for many, falling over the next year.

The high rates of inflation and tax rises would also “more than negate” small average wage increases over the next year, he suggested.

Mr Johnson continued: “Over the next several years a combination of tax increases and high inflation will mean very slow growth in living standards.

“The worry for the government is that, for all the chancellor’s upbeat delivery, the voters may not get much feelgood factor.”

Twilio Down After Reporting Wider Q3 Loss, Q4 Loss Forecast

Twilio Inc. (TWLO) shares are down more than 14 percent on Thursday morning trade after the company reported a wider net loss for the third quarter and projects wider than expected net loss range for the fourth quarter.

The company reported third quarter net loss of $224.11 million or $1.26 per share, wider than $116.91 million or $0.79 per share in the prior year.

The forecast for the fourth quarter is adjusted net loss in a range of $0.26-$0.23 per share, while analysts are looking for net loss of $0.07 per share. Revenue projection is for $760-$770 million, while analysts are expecting $796-$709.92 million.

O’Reilly FY EPS Guidance Betters Street View

Missouri-based car manufacturer, O’Reilly Automotive, Inc. (ORLY) forecast better earnings year-over-year for the full year on Wednesday.

The company foresees earnings in the range of $29.25 to $29.45 per share for the full year. On average 24 analysts polled by Thomson Reuters project the earnings to be $28.01.

O’Reilly projected its revenue for full-year between $12.9 billion to $13.2 billion while analyst forecast for revenue came at $12.69 billion.

The auto parts retailer also expects 10% to 12% of same-store sales for the same term.

CEO Greg Johnson said, “Our performance is a testament to the value proposition delivered by our dedicated Team, and we are confident in Team O’Reilly’s ability to provide excellent customer service and drive continued outstanding results; as a result, we are increasing our full-year 2021 comparable store sales guidance to a range of 10% to 12%, which reflects our strong year-to-date performance and our expectations for the remainder of the fourth quarter.”