Capgemini Q3 Revenue Drops, Backs Annual Guidance

Capgemini SE (CGEMY.PK,CAPP), a French IT company, on Tuesday registered a decline revenue for the third-quarter of 2023, amidst challenging macro-economic conditions.

For the third quarter, the company posted a revenue of 5.480 billion euros, lesser than 5.553 billion euros, reported for the same period last year.

For the nine-month period, revenue stood at 16.906 billion euros as against last year’s 16.241 billion euros.

Looking ahead, for full year 2023, Capgemini reiterated its revenue growth forecast of 4 percent to 7 percent, with operating margin of 13 percent to 13.2 percent.

Deutsche Wohnen 9-month FFO Rises – Quick Facts

Property company Deutsche Wohnen SE (DWHHF.PK) reported that its funds from operations or FFO for the nine-month of fiscal year 2023 rose to 456.3 million euros or 1.15 euros per share from 441.5 million euros or 1.11 euros per share in the prior year.

Loss for the period was 1.30 billion euros compared to net income of 913.8 million euros in the previous year.

The NAV (formerly EPRA NTA) declined by 8.7% since year-end 2022 to 18.60 billion euros or 46.86 euros per share. The LTV was stable at 28.7%.

The vacancy rate remained at a very low level of 1.7%.

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Watches Of Switzerland Q2 Revenue Climbs, Confirms Annual Outlook

Watches of Switzerland Group Plc (WOSGF) announced Tuesday that it has recorded strong trading for the second quarter of 2024, supported by robust demand and sales.

In addition, the company has reaffirmed its Annual guidance.

For the second quarter, the Swiss company recorded revenue of 379 million pounds, higher than the 374 million pounds registered for the same period last year.

For the first half, however, Group revenue slipped to 761 million from 765 million pounds of previous year.

Brian Duffy, CEO of WOSGF, said: “In the second half, our major showroom upgrades in the UK will reopen pre-Christmas along with the reopening of our US Rolex boutique at Millenia, Orlando. That, combined with our sequential sales improvement over the quarter means we reiterate our FY24 guidance.”

Looking ahead, for the full year 2024, the watchmaker has reaffirmed its guidance.

On an organic pre-IFRS 16 basis, the Group projects its annual revenue to be in the range of 1.65 billion pounds to 1.70 billion pounds, a growth of 8 percent to 11 percent on constant currency.

On organic pre-IFRS 16 and IFRS 16 basis, excluding items, the company forecast its full-year EBIT margin percent to be in line with fiscal 2023.

RS Group H1 Adj. Operating Profit Declines; LFL Revenue Down 8%

RS Group PLC reported profit before tax of 126.3 million pounds for the six months ended 30 September 2023 compared to 182.5 million pounds, last year. Earnings per share was 19.5 pence compared to 29.8 pence. Adjusted operating profit was 156 million pounds, down 21% from last year. Adjusted earnings per share was 22.3 pence compared to 31.3 pence.

First half Group revenue decreased by 1% to 1.45 billion pounds. Like-for-like revenue declined 8%, for the period.

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4imprint Group Raises 2023 Profit Guidance

U.K.-headquartered advertising business 4imprint Group plc (FOUR) on Tuesday said it now expects Group profit before tax to be not less than $130 million versus the previous guidance of $125 million. The Group revenue guidance has been maintained at slightly above $1.3 billion.

The company also stated that October year-to-date order counts in the primary North American business were 13 percent above the 2022 levels. Average order values increased 1 percent above the 2022 levels. As a result, overall demand revenue for October year-to-date was 15 percent higher than the corresponding period in 2022.

The company also noted that in recent weeks it has seen some evidence of softening demand patterns typical of a more cautious macro-economic environment.

Oil Prices Tumble On Demand Worries

Oil prices tumbled to one-month lows on Tuesday as Middle East tensions receded and China reported mixed trade data, stoking fresh concerns over economic headwinds.

Benchmark Brent crude futures fell 2 percent to $83.51 per barrel, while WTI crude futures were down 2 percent at $79.20.

Israel once again rejected calls for a ceasefire but said it’s open to Gaza fighting pauses to facilitate the entry of aid or the exit of hostages from the Gaza Strip.

Fed rate worries and disappointing exports data from China also raised concerns over sluggish fuel demand.

Minneapolis Fed President Neel Kashkari said on Monday that inflation settling above 2 percent would be very concerning and he’s not convinced rate hikes are over.

China’s exports shrank 6.4 percent year-on-year in October, while imports unexpectedly grew 3.0 percent to snap 11 straight months of decline, official data showed in a sign that recovery in the world’s second-largest economy remains uneven despite a series of government stimulus measures.

The GEO Group Inc. Q3 Profit Drops, Inline With Estimates

The GEO Group Inc. (GEO) announced a profit for third quarter that decreased from the same period last year in line with the Street estimates.

The company’s earnings totaled $24.52 million, or $0.16 per share. This compares with $38.34 million, or $0.26 per share, in last year’s third quarter.

Excluding items, The GEO Group Inc. reported adjusted earnings of $23.63 million or $0.19 per share for the period.

Analysts on average had expected the company to earn $0.19 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter fell 2.3% to $602.79 million from $616.68 million last year.

The GEO Group Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $24.52 Mln. vs. $38.34 Mln. last year.
-EPS (Q3): $0.16 vs. $0.26 last year.
-Analyst Estimates: $0.19
-Revenue (Q3): $602.79 Mln vs. $616.68 Mln last year.