KalVista Pharma Posts Wider Loss In Q1

KalVista Pharmaceuticals, Inc. (KALV) posted a first quarter net loss of $25.3 million, or $0.74 per share, compared to a net loss of $23.0 million, or $0.94 per share, prior year. The company said the increase in net loss primarily resulted from the increase in operating expenses, primarily research and development. On average, five analysts polled by Thomson Reuters expected the company to report a loss per share of $0.86, for the quarter. Analysts’ estimates typically exclude special items.

The company stated that no revenue was recognized for the three months ended July 31, 2023 or July 31, 2022. Cash, cash equivalents and marketable securities were $123.3 million as of July 31, 2023.

Andrew Crockett, CEO of KalVista, said: “We continue to build our Commercial operation with the addition of Nicole Sweeny as Chief Commercial Officer and other key members of the team to support an NDA submission in the first half of 2024 and a rapid launch upon FDA approval.”

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Brenntag To Buy Operating Business Of Chemgrit Group

Brenntag SE(BNTGF.PK), a German chemicals and ingredients distributer, said on Thursday that it has inked a deal to acquire the operating business of Chemgrit Group, a South African specialty chemical distributor focused on personal care, food, and material science.

The financial terms of the transaction, expected to be completed in the fourth-quarter, are not known.

Michael Friede, CEO of Brenntag Specialties, said: “Chemgrit’s Cosmetics focus perfectly complements our existing national food and pharma business in life science and supports our ambition to achieve an ever-stronger position with a comprehensive offering in South Africa and beyond…”

Personal care is one of the fastest growing market segments in South Africa and sub-Saharan Africa and the personal care, cosmetics operations have an good coverage in South African markets.

Post transaction, Brenntag Specialties will integrate Chemgrit’s Personal Care operations into its division Personal Care & HI&I.

Precision Drilling To Buy CWC Energy For $141 Mln In Share, Cash Deal

Precision Drilling Corp. (PDS), a Canadian drilling rig contractor, announced on Thursday that it has inked a deal to acquire CWC Energy Services Corp. (CWC) for around $141 million in stock and cash.

The deal comprises of 947,909 Precision shares valued at around $88 million as of September 1, a cash portion of $14 million, and the assumption of CWC’s outstanding debt.

The transaction is expected to be completed in the fourth quarter.

Precision’s CEO, Kevin Neveu, said: “This acquisition supports our High Performance and high-value strategy as it allows us to expand our service offering in both Canada and the U.S. We believe the transaction will be accretive to earnings and provide significant cash flow to drive shareholder returns and support our debt reduction strategy…”

Post-transaction, the acquirer expects to realize annual operating synergies of approximately $20 million. Precision has identified around $20 million of excess CWC real estate that it expects to monetize post-transaction closing.

Following the completion of the acquisition, Precision will add 62 marketed service rigs and seven marketed drilling rigs in Canada, followed by 11 marketed drilling rigs in the U.S., including seven AC triple rigs.

Toro Co Q3 Earnings Summary

Below are the earnings highlights for Toro Co (TTC):

Earnings: -$14.963 million in Q3 vs. $125.150 million in the same period last year.
EPS: -$0.14 in Q3 vs. $1.19 in the same period last year.
Excluding items, Toro Co reported adjusted earnings of $99.355 million or $0.95 per share for the period.

Analysts projected $1.24 per share
Revenue: $1.081 billion in Q3 vs. $1.160 billion in the same period last year.

John Wiley & Sons Inc. Q1 Loss Climbs

John Wiley & Sons Inc. (WLY) revealed Loss for its first quarter that increased from the same period last year

The company’s earnings totaled -$92.264 million, or -$1.67 per share. This compares with -$17.835 million, or -$0.32 per share, in last year’s first quarter.

The company’s revenue for the quarter fell 7.5% to $451.013 million from $487.569 million last year.

John Wiley & Sons Inc. earnings at a glance (GAAP) :

-Earnings (Q1): -$92.264 Mln. vs. -$17.835 Mln. last year.
-EPS (Q1): -$1.67 vs. -$0.32 last year.
-Revenue (Q1): $451.013 Mln vs. $487.569 Mln last year.

-Guidance:
Full year EPS guidance: $2.05 to $2.40
Full year revenue guidance: $1.580 to $1.630 Bln

Science Applications International Q2 Results Top Estimates; Boosts FY24 Outlook

Technology integrator Science Applications International Corp. (SAIC) announced Thursday that net income for the second quarter soared to $247 million or $4.56 per share from $74 million or $1.30 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $2.05 per share, compared to $1.75 per share in the year-ago quarter.

Revenues for the quarter declined 3 percent to $1.78 billion from $1.83 billion in the same quarter last year. Revenues grew 8.3 percent organically after adjusting for impact of divestitures.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.62 per share on revenues of $1.69 billion for the quarter. Analysts’ estimates typically exclude special items.

On Wednesday, the Company’s Board of Directors declared a cash dividend of $0.37 per share of the Company’s common stock, payable on October 27, 2023 to stockholders of record on October 13, 2023.

Looking ahead to fiscal 2024, the company now projects adjusted earnings in a range of $7.20 to $7.40 per share on revenues between $7.20 billion and $7.25 billion.

Previously, the company expected adjusted earnings in the range of $7.00 to $7.20 per share on revenues between $7.125 billion and $7.225 billion.

The Street is looking for earnings of $7.16 per share on revenues of $7.20 billion for the year.

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