C&C Group H1 Adj. Profit Rises; Net Revenue Up 35.6%

C&C Group plc (CCR.L) reported that its first half adjusted profit before tax increased to 47.4 million euros from 7.1 million euros, last year. Adjusted EPS in cent was 9.5 compared to 1.6.

Pretax profit increased to 47.1 million euros from 10.5 million euros. Earnings per share from continuing operations in cent was 9.5 compared to 2.5.

Net revenue increased 35.6% year-on-year to 903.0 million euros, driven by volume growth of 11% and price/mix growth of 25%.

The Board intends to recommence a full and final year dividend following the release of the full year 2023 results.

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Advantest Corp. H1 Earnings Climb

Advantest Corporation (ATE), a Japanese maker of automatic test equipment for semiconductor industry, on Thursday posted a jump in earnings for the first half amidst a rise in revenue, helped by increased demand.

For the six-month period to September, the Tokyo-headquartered firm posted a net income of 71.161 billion yen or 374.10 yen per share, compared with 35.246 billion yen or 178.60 yen per share, posted a year ago.

Pre-tax income was at 95.247 billion yen, higher than last year’s 47.260 billion yen.

Operating income stood at 87.916 billion yen as against 47.476 billion yen, recorded for the first-half of 2021-22.

Advantest Corporation’s net sales climbed to 274.806 billion yen from 187.990 billion yen of last year.

Looking ahead, for the full-year, the firm expects a net income of 130 billion yen, on net sales of 650 billion yen.

Gold Edges Lower As Dollar Steadies Ahead Of ECB Meeting

Gold prices were slightly lower on Thursday, after having hit a two-week peak the previous day amid bets that the Federal Reserve will slow the pace of tightening after delivering a 75-bps rate hike in November.

Spot gold slipped 0.1 percent to $1,662.59 per ounce while U.S. gold futures were down 0.2 percent at $1,666.05.

The dollar edged higher in European trading, while the euro pushed above parity ahead of the ECB rate decision later in the day.

The European Central Bank is widely expected to hike its benchmark rate by 75 basis points to combat rising inflation. ECB Chief Christine Lagarde holds a press conference at 8.45 AM ET.

Bond yields moved higher as investors looked ahead to the release of a flurry of U.S. data due this week and the Fed’s decision next week for direction.

The latest economic data, including reports on weekly jobless claims, durable goods orders and third quarter GDP, due later in the day may offer additional clues on the economic and rate outlook.

Fiserv Inc. Q3 Profit Increases, but misses estimates

Fiserv Inc. (FISV) reported earnings for its third quarter that increased from last year but missed the Street estimates.

The company’s bottom line came in at $481M, or $0.75 per share. This compares with $428M, or $0.64 per share, in last year’s third quarter.

Excluding items, Fiserv Inc. reported adjusted earnings of $1.05 billion or $1.63 per share for the period.

Analysts on average had expected the company to earn $1.70 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 8.7% to $4.52 billion from $4.16 billion last year.

Fiserv Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $481M. vs. $428M. last year.
-EPS (Q3): $0.75 vs. $0.64 last year.
-Analyst Estimate: $1.70
-Revenue (Q3): $4.52 Bln vs. $4.16 Bln last year.

-Guidance:
Full year EPS guidance: $6.48 to $6.55

International Paper Q3 Profit Advances, Beats estimates

International Paper (IP) released earnings for its third quarter that increased from the same period last year and beat the Street estimates.

The company’s bottom line came in at $951 million, or $2.64 per share. This compares with $864 million, or $2.20 per share, in last year’s third quarter.

Analysts on average had expected the company to earn $1.21 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 9.9% to $5.402 billion from $4.914 billion last year.

International Paper earnings at a glance (GAAP) :

-Earnings (Q3): $951 Mln. vs. $864 Mln. last year.
-EPS (Q3): $2.64 vs. $2.20 last year.
-Analyst Estimate: $1.21
-Revenue (Q3): $5.402 Bln vs. $4.914 Bln last year.

Southwest Airlines Q3 Profit Beats Estimates

Southwest Airlines Co. (LUV) said revenue trends remained strong in September 2022, bolstered by improving business travel trends post-Labor Day. The company currently expects revenue trends to improve sequentially from third quarter to fourth quarter 2022, despite lower capacity. Southwest Airlines expects to generate strong profits and margins in fourth quarter 2022, based on current trends.

Third quarter net income per share, excluding special items, was $0.50 compared to a loss of $0.23, prior year. On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $0.42, for the quarter. Analysts’ estimates typically exclude special items.

Net income was $277 million or $0.44 per share compared to $446 million or $0.73 per share, prior year.

Third quarter operating revenues were $6.2 billion, an increase of 32.9% from last year. Analysts on average had estimated $6.21 billion in revenue. Operating revenues were up 10.3 percent compared with third quarter 2019, in line with the company’s previous guidance.

Shares of Southwest Airlines are up 3% in pre-market trade on Thursday.

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