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SGLY

SINGULARITY FUTURE TECHNOLOGY LTD.Great Neck, N.Y., Feb. 27, 2023 (GLOBE NEWSWIRE) -- Singularity Future Technology Ltd. (the “Company”) (Nasdaq: SGLY) announced today that on February 21, 2023, it received an additional staff determination notice (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”), advising that it had not received the Company’s Form 10-Q for the quarterly period ended December 31, 2022, which served as an additional basis for delisting the Company’s securities and that the Nasdaq Hearings Panel (the “Panel”) will consider the additional deficiency in rendering a determination regarding the Company’s continued listing on Nasdaq. The Company has submitted to the Panel a plan to regain compliance with the continued listing requirements and has been granted a grace period to file all the delinquent reports, including the filing of the Form 10-Q for the quarterly period ended December 31, 2022, on or before February 28, 2023.   About Singularity Future Technology Ltd.The Company is an integrated logistics solutions provider with a focus on servicing steel companies and e-commerce businesses in China and the United States. The Company’s operations consist of freight services and warehouse services. The freight services include shipping and other freight-related services and is operated by the Company's subsidiaries in China. The warehouse services encompass a wide range of services such as warehouse, collection, first-mile delivery, drop shipping, customs clearance, and international shipping and is operated by the Company's subsidiary out of Houston, Texas.Forward-Looking StatementsCertain statements made herein that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). While the Company’s management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of the Company’s control, that could cause actual results to materially differ from such statements. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. The Company disclaims any intention to, and undertake no obligation to, update or revise any forward-looking statement.Story continuesFor more information, please contact:[email protected] number: 718-888-1814

GlobeNewswire

Singularity Future Technology Announces Receipt of Nasdaq Notice of Additional Staff Determination

https://finance.yahoo.com/news/singularity-future-technology-announces-receipt-230600145.html

5dc6553b-dbe5-356e-8ac2-795b7e0e868a

SGLY

SINGULARITY FUTURE TECHNOLOGY LTD.Great Neck, N.Y., March 22, 2023 (GLOBE NEWSWIRE) -- Singularity Future Technology Ltd. (Nasdaq: SGLY) (“Singularity” or the “Company”) announced today that on March 16, 2023, it received a formal notification from The Nasdaq Stock Market LLC confirming that the Company had regained compliance with the Nasdaq Listing Rule 5250(c)(1), which requires the Company to timely file all required periodic financial reports with the Securities and Exchange Commission, and that the matter is now closed..  About Singularity Future Technology Ltd.The Company is a global logistics integrated solution provider that was founded in the United States in 2001. The Company primarily focuses on providing freight logistics services, which mainly include shipping, warehouse, resources, equipment, and other logistical support to steel companies and e-commerce businesses.For more information, please contact:[email protected] number: 718-888-1814

GlobeNewswire

Singularity Future Technology Announces Regaining Compliance with Nasdaq Listing Requirement

https://finance.yahoo.com/news/singularity-future-technology-announces-regaining-171400475.html

6e356859-5101-3bde-a661-0263ab5817d2

SHW

Wall Street has witnessed volatility in August for the first time in 2023. Month to date, major stock indexes are in negative territory. However, U.S. stock markets have returned to the northward journey in the last week of August.The primary reason for this turnaround is the release of a series of weak economic data. These data indicate that the U.S. economy is cooling. Market participants believe that a slowing economy may compel the Fed to control monetary hardness and aggressive interest rate hikes.Weak Economic DataThe Bureau of Economic Analysis reported that the U.S. GDP grew at 2.1% in second-quarter 2023, lower than the previous estimate of 2.4%. The consensus estimate was 2.4%.The latest Job Opening and Labor Turnover Survey reported that there were 8.8 million jobs open at the end of July, a decrease from the 9.16 million job openings in June. July’s data was the lowest since March 2021. Job hiring in July was 5.78 million, the lowest total since January 2021. The ADP jobs data has shown U.S. private employers added 177,000 jobs in August, sharply lower than revised data of 371,000 for June. The consensus estimate was 200,000. However, investors are waiting for the government nonfarm payrolls data to be released on Sep 1.The Conference Board reported that U.S. Consumer Confidence Index for August fell sharply to 106.1, well below the consensus estimate of 116. July’s reading was also revised downward to 114 from 116 reported earlier.The Present Situation Index, which gauges consumers’ views on current market conditions, fell to 144.8 in August from 153 in July. The Expectations Index, which is a measure of consumers’ short-term (next six months) outlook on income, business, and labor market conditions, dropped to 80.2 in August from 88 in July. The Expectations Index has remained below 80 (the level indicates expectations of a recession within a year) since February 2022 excluding last December.A similar kind of survey, conducted by the University of Michigan, reported that the final reading of the U.S. Consumer Sentiment for the month of August came in at 69.5 compared with the preliminary reading of 71.2. The consensus estimate was also 71.2.Story continuesOur Top PicksAt his stage, it will be prudent to invest in stocks that have momentum/growth for the near future. We have narrowed our search to five U.S. corporate giants (market capital > $50 billion). These stocks have strong potential for the rest of 2023 and have seen positive earnings estimate revisions in the last 30 days. Each of our picks sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.The chart belolw shows the price performance of our five picks in the past three months.Zacks Investment ResearchImage Source: Zacks Investment ResearchNVIDIA Corp. NVDA reported second-quarter fiscal 2024 adjusted earnings of $2.70 per share, surpassing the Zacks Consensus Estimate of $2.09. NVDA posted revenues of $13.51 billion for the quarter, outpacing the Zacks Consensus Estimate by 20.89%. Management sees third-quarter revenues of $16 billion versus the Zacks Consensus Estimate of $12.34 billion.Over the years, the worldwide leader of the NVDA has shifted its focus from PC graphics to AI- based solutions that support high-performance computing, gaming, and virtual reality platforms. NVDA’s A100 and H100 AI chips are used to build and run AI applications, including OpenAI's ChatGPT.NVIDIA has an expected revenue and earnings growth rate of 93.1% and more than 100%, respectively, for the current year (ending January 2024). The Zacks Consensus Estimate for current-year earnings has improved 30.8% over the last seven days.Caterpillar Inc. CAT has seen year-over-year revenue and earnings growth for nine straight quarters thanks to its cost-saving actions, strong end-market demand and pricing actions that offset the impact of supply-chain snarls and cost pressures. We expect the company’s adjusted earnings per share for 2023 to grow 19.5% and revenues to rise 7.6%.Caterpillar has an expected revenue and earnings growth rate of 11.9% and 43.1%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 10.3% over the last 30 days.JPMorgan Chase & Co.'s JPM second-quarter 2023 results show the impacts of the First Republic Bank buyout, higher rates and worsening economic outlook. High rates, global expansion efforts and decent loan demand should support the net interest income (NII) of JPM. Our estimates for NII (managed) indicate a CAGR of 5.8% by 2025. With green shoots visible in the investment banking (IB) business, IB fees are likely to witness a turnaround soon.JPM has an expected revenue and earnings growth rate of 22% and 30.9%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 0.1% over the last 30 days.Workday Inc. WDAY has been benefiting from solid momentum in human capital and financial management portfolio. WDAY’s cloud-based business model is increasingly gaining traction. Strong emphasis on the integration of generative AI in WDAY products and developing various AI-driven applications to drive more value is a tailwind.Workday has an expected revenue and earnings growth rate of 16.1% and 46.2%, respectively, for the current year (ending January 2024). The Zacks Consensus Estimate for current-year earnings has improved 0.4% over the last seven days.The Sherwin-Williams Co. SHW is expected to benefit from favorable demand in domestic markets. Increased sales volumes in the Paint Stores Group division indicate a larger market share.In addition to driving sales, SHW is implementing cost control initiatives and adopting various supply chain optimization techniques to enhance its margins. The acquisition of Valspar has also strengthened its position as a global leader in paints and coatings.The Sherwin-Williams has an expected revenue and earnings growth rate of 3.1% and 12%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 1.3% over the last 30 days.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportJPMorgan Chase & Co. (JPM) : Free Stock Analysis ReportCaterpillar Inc. (CAT) : Free Stock Analysis ReportThe Sherwin-Williams Company (SHW) : Free Stock Analysis ReportNVIDIA Corporation (NVDA) : Free Stock Analysis ReportWorkday, Inc. (WDAY) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Weak Economic Data Turns Good for Wall Street: Top 5 Picks

https://finance.yahoo.com/news/weak-economic-data-turns-good-120500708.html

789a0441-9a63-39cb-904d-0abc2d16b681

SHW

The Sherwin-Williams Company's SHW shares have rallied 15.8% year to date, outperforming its industry’s rise of 13.4% over the same time frame.Let’s take a look at the factors that are driving this Zacks Rank #1 (Strong Buy) stock.Zacks Investment ResearchImage Source: Zacks Investment ResearchSherwin-Williams is expanding its retail operation by taking advantage of the strong domestic demand. It is seeing high demand in auto refinishing. The company's system installations in North America have increased by double digits this year, which is encouraging for future sales.Sherwin-Williams' remains committed to expanding its retail footprint to increase its market share. The Paint Stores Group experienced a 10% sales rise in the second quarter as a result of improved pricing and volume increases across numerous geographies. Segment margin increased 280 basis points to 24.3%The company continually seeks to boost margins through cost-cutting, supply chain efficiency and productivity enhancements. Cost-cutting strategies produced large net cash flows of about $1.9 billion in 2022. Significant shareholder returns totaling $848.7 million in dividends and share repurchases during the first half of 2023 were made attainable by strong cash generation.In addition, there are ongoing restructuring activities, particularly in corporate operations, the Performance Coatings Group and the Consumer Brands Group. Savings of $50 million to $70 million annually are expected from these efforts, with 75% of the benefits anticipated by the end of 2023 and a full run rate by the end of 2024.Also, earnings estimates for SHW have been going up over the past two months, reflecting analysts’ optimism. The Zacks Consensus Estimate for current-year earnings has been revised upward by 12.4%. The consensus estimate for 2024 has also been revised roughly 8.5% upward over the same time frame.For full-year 2023, the Zacks Consensus Estimate for earnings currently stands at $9.78 per share, implying year-over-year growth of 12%. For 2024, earnings are anticipated to experience growth of 11.5%.Story continuesThe Sherwin-Williams Company Price and ConsensusThe Sherwin-Williams Company price-consensus-chart | The Sherwin-Williams Company QuoteOther Key PicksOther top-ranked stocks in the basic materials space include Carpenter Technology Corporation CRS, Denison Mine Corp. DNN and Veritiv Corporation VRTV.Carpenter Technology currently carries a Zacks Rank #1 (Strong Buy). The stock has rallied roughly 98.5% in the past year. CRS beat the Zacks Consensus Estimate in three of the last four quarters while meeting in one. It delivered a trailing four-quarter earnings surprise of 9.8%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.Denison Mines currently carries a Zacks Rank #1. The stock has gained roughly 6% in the past year. DNN beat the Zacks Consensus Estimate in three of the last four quarters while meeting once. It delivered a trailing four-quarter earnings surprise of 75%, on average.Veritiv currently carries a Zacks Rank #2 (Buy). The stock has rallied roughly 39.1% in the past year. VRTV beat the Zacks Consensus Estimate in three of the last four quarters. It delivered a trailing four-quarter earnings surprise of 6%, on average.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportThe Sherwin-Williams Company (SHW) : Free Stock Analysis ReportCarpenter Technology Corporation (CRS) : Free Stock Analysis ReportDenison Mine Corp (DNN) : Free Stock Analysis ReportVeritiv Corporation (VRTV) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Sherwin-Williams' (SHW) Shares Jump 16% YTD: Here's Why

https://finance.yahoo.com/news/sherwin-williams-shw-shares-jump-110300649.html

5ae651a8-5d03-3662-8f30-4778a5c67b12

SHYF

Readers hoping to buy The Shyft Group, Inc. (NASDAQ:SHYF) for its dividend will need to make their move shortly, as the stock is about to trade ex-dividend. The ex-dividend date is usually set to be one business day before the record date which is the cut-off date on which you must be present on the company's books as a shareholder in order to receive the dividend. The ex-dividend date is an important date to be aware of as any purchase of the stock made on or after this date might mean a late settlement that doesn't show on the record date. In other words, investors can purchase Shyft Group's shares before the 16th of August in order to be eligible for the dividend, which will be paid on the 18th of September.The company's next dividend payment will be US$0.05 per share, and in the last 12 months, the company paid a total of US$0.20 per share. Based on the last year's worth of payments, Shyft Group has a trailing yield of 1.3% on the current stock price of $15.55. If you buy this business for its dividend, you should have an idea of whether Shyft Group's dividend is reliable and sustainable. As a result, readers should always check whether Shyft Group has been able to grow its dividends, or if the dividend might be cut. Check out our latest analysis for Shyft Group Dividends are typically paid from company earnings. If a company pays more in dividends than it earned in profit, then the dividend could be unsustainable. Shyft Group paid out just 17% of its profit last year, which we think is conservatively low and leaves plenty of margin for unexpected circumstances. That said, even highly profitable companies sometimes might not generate enough cash to pay the dividend, which is why we should always check if the dividend is covered by cash flow. It paid out 22% of its free cash flow as dividends last year, which is conservatively low.It's encouraging to see that the dividend is covered by both profit and cash flow. This generally suggests the dividend is sustainable, as long as earnings don't drop precipitously.Story continuesClick here to see the company's payout ratio, plus analyst estimates of its future dividends.historic-dividendHave Earnings And Dividends Been Growing?Stocks in companies that generate sustainable earnings growth often make the best dividend prospects, as it is easier to lift the dividend when earnings are rising. If earnings fall far enough, the company could be forced to cut its dividend. Fortunately for readers, Shyft Group's earnings per share have been growing at 19% a year for the past five years. The company has managed to grow earnings at a rapid rate, while reinvesting most of the profits within the business. This will make it easier to fund future growth efforts and we think this is an attractive combination - plus the dividend can always be increased later.The main way most investors will assess a company's dividend prospects is by checking the historical rate of dividend growth. In the last 10 years, Shyft Group has lifted its dividend by approximately 7.2% a year on average. We're glad to see dividends rising alongside earnings over a number of years, which may be a sign the company intends to share the growth with shareholders.To Sum It UpHas Shyft Group got what it takes to maintain its dividend payments? Shyft Group has been growing earnings at a rapid rate, and has a conservatively low payout ratio, implying that it is reinvesting heavily in its business; a sterling combination. It's a promising combination that should mark this company worthy of closer attention.While it's tempting to invest in Shyft Group for the dividends alone, you should always be mindful of the risks involved. Every company has risks, and we've spotted 2 warning signs for Shyft Group (of which 1 is concerning!) you should know about.If you're in the market for strong dividend payers, we recommend checking our selection of top dividend stocks.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

There's A Lot To Like About Shyft Group's (NASDAQ:SHYF) Upcoming US$0.05 Dividend

https://finance.yahoo.com/news/theres-lot-shyft-groups-nasdaq-100057840.html

84942b6e-04db-3105-b7e6-ab4b928ae1d8

SHYF

In this article, we discuss the 12 most undervalued EV stocks to buy according to hedge funds. To skip the detailed analysis of the EV industry, go directly to the 5 Most Undervalued EV Stocks To Buy.Electric vehicles (EV) have become a significant disruptor in the automotive industry. EVs have almost completely taken over the internal combustion engine (ICE) vehicles market in some countries. For example, 79% of all the vehicles registered last year in Norway were pure electric. On the other hand, the pure ICEs only represented nearly 7% of the total vehicles sold in the country. There were over 10 million electric vehicles sold in 2022, including plug-in hybrid vehicles (PHEV). Around 7.657 million of them were battery electric vehicles (BEV).According to the International Energy Agency (IEA), EVs are expected to cover 18% of the global vehicle market in 2023 with 14 million sales, compared to 14% in 2022. EVs have already shown their strength in the first half of 2023. In the first quarter, sales were up 25% year-over-year and according to a PwC report, the BEV sales alone went up by 52% in the second quarter of 2023.Tesla, Inc. (NASDAQ:TSLA) has ruled the global EV market for over a decade. However, other companies are stepping in to put a stop to its undisputed dominance. Its closest competitor is the Chinese auto manufacturer, BYD Company Limited (OTC:BYDDY), which covered 11.9% of the total BEV market share in 2022, compared to Tesla, Inc. (NASDAQ:TSLA)’s 17.15%. Including BYD Company, most of the other major Tesla, Inc. (NASDAQ:TSLA) competitors are Chinese companies. On the other hand, behemoths of the automotive industry, such as Ford Motor Company (NYSE:F), General Motors Company (NYSE:GM), and Toyota Motor Corporation (NYSE:TM) have also started to increase their EV production over the years. Even the Italian supercar manufacturer, Ferrari N.V. (NYSE:RACE) is planning to unveil its first pure electric car in 2025. Nonetheless, Tesla, Inc. (NASDAQ:TSLA) is also making moves to retain its dominance. The company has cut its vehicle prices six times this year before May. The company also launched cheaper versions of Model S and X. According to the Chief Executive Officer, Elon Musk, interest rates were one of the driving factors of price cuts. At Tesla, Inc. (NASDAQ:TSLA) Q2 earnings call, he said:Story continues“And, you know -- and then, obviously, another challenge is the -- the interest rate environment. As interest rates rise, the affordability of anything bought with that decreases, so effectively increasing the price of the car. So, when interest rates rise dramatically, we actually have to reduce the price of the car because the -- the interest payments increase the price of the car. So -- and this is at least -- at least up until recently was to believe the sharpest interest rate rise in history.”The latest to join the list of EV market competitors, VinFast Auto Ltd. (NASDAQ:VFS), launched its IPO on August 15 and reached a valuation of $86 billion on opening day and reached a market cap of nearly $160 billion by August 25. The Vietnamese EV maker is listed on NASDAQ and its stock has gone up by 346.56% between August 18 and August 25 market close.The IEA estimates that 60% of all vehicles on the road will be electric. The prediction is dependent on broadening battery manufacturing and the constant supply of necessary minerals. However, Reuters reported that lithium producers are facing permit delays, labor shortages, and inflation, which may hinder battery production for EVs. On top of that, PwC believes that the electric charging market will have to grow tenfold by 2030 to meet the EV charging demand in the US.During this high demand growth for EVs, Tesla, Inc. (NASDAQ:TSLA), Ford Motor Company (NYSE:F), and General Motors Company (NYSE:GM) are some of the most promising EV stocks.12 Most Undervalued EV Stocks To Buy According To Hedge Fundsmichael-fousert-YhXlYJYlr3c-unsplashOur MethodologyFor this article, we chose the 12 most undervalued EV stocks based on their hedge fund sentiment as of the second quarter of 2023. We only chose the companies that manufacture EVs and not just infrastructure or materials for the EV sector.The hedge fund sentiment around the stocks was taken from Insider Monkey’s database of 910 hedge funds.12 Most Undervalued EV Stocks To Buy According To Hedge Funds12. The Shyft Group, Inc. (NASDAQ:SHYF)Number of Hedge Fund Holders: 16The Shyft Group, Inc. (NASDAQ:SHYF) is an American auto manufacturer headquartered in Michigan. The company’s latest addition to its EV portfolio is Blue Arc EV Solutions which focuses on electric delivery vans.For the second quarter of 2023, The Shyft Group, Inc. (NASDAQ:SHYF) posted a non-GAAP earnings per share (EPS) of $0.25, outperforming the estimates by $0.03. However, the company’s revenue of $225.1 million declined by 3% year-over-year and missed market expectations by $31.5 million. The Shyft Group, Inc. (NASDAQ:SHYF) also declared a $0.05 per share quarterly dividend in early August, payable by September 18 to the shareholders of record on August 17.Heartland Advisors made the following comment about The Shyft Group, Inc. (NASDAQ:SHYF) in its Q4 2022 investor letter:“The Shyft Group, Inc. (NASDAQ:SHYF) is a leader in specialty vehicles, including “last mile” delivery vans used in ecommerce. More than a year ago, the company announced plans to develop an electric parcel-delivery vehicle, investing $75 million at launch. Concern over the elevated operational risks and spending associated with the program weighed on the stock, sending shares down almost 49% this year.The company has unique growth opportunities, and we believe the EV expenditures will ultimately be money well spent, as it expands the addressable market and protect against competitive offerings. The business is priced at only 8.2X our estimate for Enterprise Value to EBITDA, substantially below its intrinsic worth.”11. XPeng Inc. (NYSE:XPEV)Number of Hedge Fund Holders: 17XPeng Inc. (NYSE:XPEV) is a Chinese electric vehicle manufacturer. The company is headquartered in China but has offices in the United States. Its US subsidiary is named XMotors.ai. XPeng Inc. (NYSE:XPEV) is also trying to become one of the most prominent autonomous vehicle manufacturers with its XPILOT technology.On August 21, XPeng Inc. (NYSE:XPEV) stock was upgraded to Buy from Neutral by Bank of America with a $22 price target. BoFA is optimistic about the company’s new deal with Volkswagen which was announced during the company’s Q2 2023 earnings call. The firm also predicts a sales volume growth for XPeng Inc. (NYSE:XPEV) due to its new model pipeline starting from 2H 2023 through 2025. According to the Insider Monkey database, 17 hedge funds had a stake in XPeng Inc. (NYSE:XPEV). Citadel Investment Group was the most prominent stakeholder of the company in the second quarter after increasing its stake in the company by 104% to 2.6 million shares worth $35.112 million. D E Shaw also seemed to love the company’s stock as the firm increased its holdings in XPeng Inc. (NYSE:XPEV) by 2798% to 1.46 million shares worth $19.638 million.10. Lucid Group, Inc. (NASDAQ:LCID)Number of Hedge Fund Holders: 18Lucid Group, Inc. (NASDAQ:LCID) is a California-based electric vehicle manufacturer focusing on luxury sports EVs and grand tourers. In the second quarter, the company’s stock was owned by 18 hedge funds with a combined stake value of $98.87 million, making it the 10th most undervalued EV stock on our list. In the previous quarter, 16 hedge funds owned Lucid Group, Inc. (NASDAQ:LCID) stock, valued at $21.725 million.Lucid Group, Inc. (NASDAQ:LCID) earnings were not up to the mark in the second quarter of 2023 and missed the analyst estimates for earnings and revenue. However, the company’s Q2 revenue was up 55% year-over-year and it more than doubled its car deliveries to 1,404 units, compared to 679 in Q2 2022. Lucid Group, Inc. (NASDAQ:LCID) management believes it is on track to produce 10,000 vehicles in 2023, compared to 7,180 vehicles in 2022.9. NIO Inc. (NYSE:NIO)Number of Hedge Fund Holders: 19NIO Inc. (NYSE:NIO) is a Chinese EV company that was founded in late 2014. Most of the company’s cars are sold in China. Nevertheless, the company also has operations in other countries and plans to expand its operations to 25 regions by 2025.In July, NIO Inc. (NYSE:NIO) reported record deliveries of 20,462 vehicles, up 103% year-over-year. The company’s month-over-month deliveries increased by 91% from 10,707 units in June. As of July 31, NIO Inc. (NYSE:NIO) has already delivered 364,579 vehicles, crossing its 2022 numbers by a huge margin. In 2022, the company had delivered 122,486 EVs.On August 22, NIO Inc. (NYSE:NIO) signed a deal with the Norwegian taxi company, Oslo Taxi. The taxi company has made the EV manufacturer its first choice supplier. This holds significant promise for NIO Inc. (NYSE:NIO) as internal combustion engine taxis will no longer be allowed in Oslo after November 1, 2024.8. Polaris Inc. (NYSE:PII)Number of Hedge Fund Holders: 21Polaris Inc. (NYSE:PII) is an American automotive manufacturer that produces snowmobiles, boats, all-terrain vehicles, and commercial vehicles. The company also makes ultra-light tactical vehicles for the defense segment. In 2020, Polaris Inc. (NYSE:PII) announced a partnership with Zero Motorcycles to produce off-road EVs and electric snowmobiles.Along with being an undervalued EV stock, Polaris Inc. (NYSE:PII) is also on our list of undervalued dividend stocks. The company has increased its dividend for the past 28 years and announced its latest quarterly dividend of $0.65 on July 28. Polaris Inc. (NYSE:PII)’s next quarterly dividend will be payable by September 15 to the shareholders of record on September 1. In the second quarter, 21 hedge funds had a stake in Polaris Inc. (NYSE:PII), compared to 20 in the previous quarter. Alyeska Investment Group increased its holdings in the company by 54% to 674,455 shares worth $81.56 million and was the largest hedge fund holder of the company. It was the second quarter in a row where the hedge fund had increased its stake in Polaris Inc. (NYSE:PII) by over 50%.Diamond Hill Capital made the following comment about Polaris Inc. (NYSE:PII) in its Q3 2022 investor letter:“Other top contributors included Polaris Inc. (NYSE:PII), BOK Financial, and Webster Financial. Polaris, a market leader in off-road vehicles, benefited from a restocking opportunity — inventory at dealers remains depleted, which can serve to offset near-term macroeconomic headwinds. The company also is perceived to be somewhat recession-resilient given its strong financial performance during and after the 2008 financial crisis. We took the opportunity to conclude our investment as we have increased concerns over rising competition, supply chain issues related to sourcing semiconductors and the business’s higher-than-perceived cyclicality.”7. Li Auto Inc. (NASDAQ:LI)Number of Hedge Fund Holders: 25Li Auto Inc. (NASDAQ:LI) is a Chinese automotive company. It sold over 130,000 EVs in 2022 and has already crossed that mark after selling over 30,000 vehicles for 4 months in a row according to its July sales data. With 34,134 units in July, Li Auto Inc. (NASDAQ:LI) recorded a 227.5% year-over-year increase in deliveries.In the second quarter, Li Auto Inc. (NASDAQ:LI) reported earnings per American depositary share of $0.36 to beat the market expectations by $0.17. Its revenue was up a staggering 228% year-over-year at $3.95 billion and Li Auto Inc. (NASDAQ:LI)’s vehicle deliveries were also over 200% up from Q2 2022 deliveries.On its earnings day, Li Auto Inc. (NASDAQ:LI) provided guidance for the third quarter of 2023. It expects its revenues to be between $4.46 billion and $4.59 billion. Moreover, the company predicts its vehicle deliveries to be between 100,000 units and 103,000 units, up 277% to 288% year-over-year.6. Oshkosh Corporation (NYSE:OSK)Number of Hedge Fund Holders: 25Oshkosh Corporation (NYSE:OSK) is an Oshkosh, Wisconsin-based company that builds heavy goods vehicles, military vehicles, vehicle bodies, and other industrial equipment. The company’s production portfolio also has EVs, including mail trucks and refuse collection vehicles.On August 2, Baird analyst Mircea Dobre upgraded Oshkosh Corporation (NYSE:OSK)’s stock to Outperform from Neutral after robust Q2 results. The analyst raised his price target to $137 from $89. Oshkosh Corporation (NYSE:OSK) was owned by 25 hedge funds in both quarters of the first half of 2023. However, the total hedge fund investments in the company increased from $295.240 million in Q1 to $478.664 million in Q2. Greenhaven Associates was the company’s largest stakeholder in Q2. The firm increased its stake in Oshkosh Corporation (NYSE:OSK) by 21% in the quarter to nearly 2.358 million shares worth $204.164 million.Here is what First Pacific Advisors specifically said about Oshkosh Corporation (NYSE:OSK) in its Q2 2023 investor letter:“Oshkosh Corporation (NYSE:OSK) makes trucks and specialty vehicles in four segments: Access Equipment (aerial work platforms and telehandlers), Defense, Fire and Safety, and Commercial. The company has suffered from component shortages and supply chain issues, but we think it has generally performed well otherwise. We remain positive on the company’s long-term prospects.”Click to continue reading and see the 5 Most Undervalued EV Stocks To Buy.Suggested articles:Top 20 Largest Timber Exporting Countries in the World10 Best Cosmetic Surgery and Aesthetics Stocks to Buy10 Best AI Penny Stocks to Buy NowDisclosure. None. 12 Most Undervalued EV Stocks To Buy According To Hedge Funds is originally published on Insider Monkey.

Insider Monkey

12 Most Undervalued EV Stocks To Buy According To Hedge Funds

https://finance.yahoo.com/news/12-most-undervalued-ev-stocks-180010191.html

fc37eedb-0164-3edb-bea5-764beea7c87b

SIBN

Si-Bone (SIBN) closed the last trading session at $21.89, gaining 5.1% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $30.63 indicates a 39.9% upside potential.The mean estimate comprises eight short-term price targets with a standard deviation of $1.85. While the lowest estimate of $27 indicates a 23.3% increase from the current price level, the most optimistic analyst expects the stock to surge 50.8% to reach $33. It's very important to note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.While the consensus price target is a much-coveted metric for investors, solely banking on this metric to make an investment decision may not be wise at all. That's because the ability and unbiasedness of analysts in setting price targets have long been questionable.However, an impressive consensus price target is not the only factor that indicates a potential upside in SIBN. This view is strengthened by the agreement among analysts that the company will report better earnings than what they estimated earlier. Though a positive trend in earnings estimate revisions doesn't give any idea as to how much the stock could surge, it has proven effective in predicting an upside.Here's What You Should Know About Analysts' Price TargetsAccording to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?Story continuesThey usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.Why SIBN Could Witness a Solid UpsideAnalysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason to expect an upside in the stock. That's because empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For the current year, five estimates have moved higher over the last 30 days compared to no negative revision. As a result, the Zacks Consensus Estimate has increased 11.1%.Moreover, SIBN currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Therefore, while the consensus price target may not be a reliable indicator of how much SIBN could gain, the direction of price movement it implies does appear to be a good guide.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportSiBone (SIBN) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Does Si-Bone (SIBN) Have the Potential to Rally 39.93% as Wall Street Analysts Expect?

https://finance.yahoo.com/news/does-si-bone-sibn-potential-135511565.html

e55492fc-fb2f-3e0c-9cc1-1c925e32e867

SIBN

For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Si-Bone (SIBN) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Medical sector should help us answer this question.Si-Bone is a member of our Medical group, which includes 1111 different companies and currently sits at #5 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Si-Bone is currently sporting a Zacks Rank of #2 (Buy).Over the past three months, the Zacks Consensus Estimate for SIBN's full-year earnings has moved 13.4% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.Based on the latest available data, SIBN has gained about 55.7% so far this year. Meanwhile, the Medical sector has returned an average of -2.4% on a year-to-date basis. This shows that Si-Bone is outperforming its peers so far this year.Another Medical stock, which has outperformed the sector so far this year, is Alpine Immune Sciences, Inc. (ALPN). The stock has returned 65.2% year-to-date.The consensus estimate for Alpine Immune Sciences, Inc.'s current year EPS has increased 9.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).Looking more specifically, Si-Bone belongs to the Medical - Instruments industry, a group that includes 95 individual stocks and currently sits at #144 in the Zacks Industry Rank. On average, stocks in this group have gained 2.7% this year, meaning that SIBN is performing better in terms of year-to-date returns.Story continuesOn the other hand, Alpine Immune Sciences, Inc. belongs to the Medical - Drugs industry. This 199-stock industry is currently ranked #100. The industry has moved -4% year to date.Investors with an interest in Medical stocks should continue to track Si-Bone and Alpine Immune Sciences, Inc. These stocks will be looking to continue their solid performance.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportSiBone (SIBN) : Free Stock Analysis ReportAlpine Immune Sciences, Inc. (ALPN) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Has SiBone (SIBN) Outpaced Other Medical Stocks This Year?

https://finance.yahoo.com/news/sibone-sibn-outpaced-other-medical-134007158.html

9d001e94-7999-3bfa-a013-16bf201b0eee

SIEB

We're definitely into long term investing, but some companies are simply bad investments over any time frame. We really hate to see fellow investors lose their hard-earned money. Anyone who held Siebert Financial Corp. (NASDAQ:SIEB) for five years would be nursing their metaphorical wounds since the share price dropped 81% in that time. We really feel for shareholders in this scenario. It's a good reminder of the importance of diversification, and it's worth keeping in mind there's more to life than money, anyway.With that in mind, it's worth seeing if the company's underlying fundamentals have been the driver of long term performance, or if there are some discrepancies. View our latest analysis for Siebert Financial To paraphrase Benjamin Graham: Over the short term the market is a voting machine, but over the long term it's a weighing machine. One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS).Looking back five years, both Siebert Financial's share price and EPS declined; the latter at a rate of 20% per year. Readers should note that the share price has fallen faster than the EPS, at a rate of 29% per year, over the period. So it seems the market was too confident about the business, in the past.The graphic below depicts how EPS has changed over time (unveil the exact values by clicking on the image).earnings-per-share-growthBefore buying or selling a stock, we always recommend a close examination of historic growth trends, available here.A Different PerspectiveWe're pleased to report that Siebert Financial shareholders have received a total shareholder return of 57% over one year. There's no doubt those recent returns are much better than the TSR loss of 13% per year over five years. This makes us a little wary, but the business might have turned around its fortunes. It's always interesting to track share price performance over the longer term. But to understand Siebert Financial better, we need to consider many other factors. For example, we've discovered 5 warning signs for Siebert Financial (1 makes us a bit uncomfortable!) that you should be aware of before investing here.Story continuesIf you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of companies that have proven they can grow earnings.Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.Join A Paid User Research SessionYou’ll receive a US$30 Amazon Gift card for 1 hour of your time while helping us build better investing tools for the individual investors like yourself. Sign up here

Simply Wall St.

Siebert Financial (NASDAQ:SIEB) shareholders have endured a 81% loss from investing in the stock five years ago

https://finance.yahoo.com/news/siebert-financial-nasdaq-sieb-shareholders-135029207.html

5e227692-f81f-3533-98cd-cf2ba1495daf

SIEB

NEW YORK, August 07, 2023--(BUSINESS WIRE)--Siebert Financial Corp. (NASDAQ: SIEB) ("Siebert"), a diversified provider of financial services, today reported financial results for the second quarter ended June 30, 2023.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230807022960/en/Second Quarter 2023 Financial HighlightsRevenue of $17.6 million compared to $11.7 million in the second quarter of 2022Net income available to common stockholders of $2.7 million compared to $0.7 million in the second quarter of 2022Earnings per share of $0.07 compared to $0.02 in the second quarter of 2022Total retail customer net worth of $15.2 billion, an improvement compared to $13.5 billion at the end of 2022Recent Business HighlightsClosed the previously announced $17.4 million investment by Kakao Pay Corp. ("Kakao Pay") in Siebert on May 18, 2023Announced the appointment of John J. Gebbia as CEO and Chairman of Siebert as well as Simon Shin to Siebert’s Board of Directors. Kakao Pay intends to acquire an additional 31.1% of Siebert of newly issued shares for approximately $60.5 million, subject to shareholder and regulatory approval.Signed a five-year lease in the World Financial Center in New York City, expanding presence in New York and providing savings on occupancy costsManagement Commentary"I am excited to be leading Siebert during this pivotal time and am proud to report incredible results for the first quarter leading as CEO," said John J. Gebbia, CEO of Siebert. Our second quarter results demonstrate the diversity of our business model and how we’re able to successfully navigate market conditions to execute on our growth strategy."John J. Gebbia continued, "We are laser-focused on delivering on our strategic objectives, creating value for our stakeholders, and ultimately empowering our clients’ success through our diversified offerings. We enter the second half of the year with significant momentum and continue to work closely with Kakao Pay on a variety of initiatives including launching correspondent clearing and various technology opportunities to expand our reach, enhance our offerings, and strengthen our value proposition. There is a tremendous opportunity ahead for Siebert to capture opportunities in the current market environment while supporting client needs in the future. I look forward to leading Siebert into its next chapter of growth and impact as we build on Muriel Siebert’s legacy while creating long-term shareholder value."Story continuesAndrew Reich, CFO of Siebert, commented: "We delivered solid results this quarter as our business benefited from improved market conditions along with the rise in interest rates. Our stock loan department continues to grow and achieved one of its best quarters ever and we continue to see growth in the current interest rate environment. The additional capital from the Kakao Pay investment was immediately deployed and we are already seeing a positive contribution to our financial results. Our flexible balance sheet keeps us well-positioned to navigate the remainder of the year as we focus on profitable growth and the expansion of our capabilities."**Refer to Siebert’s 2023 Q2 10-Q, Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.Notice to InvestorsThis communication is provided for informational purposes only and is neither an offer to sell nor a solicitation of an offer to buy any securities in the United States or elsewhere.About Siebert Financial Corp.Siebert is a diversified financial services company that has been in business and a member of the NYSE since 1967 when Muriel Siebert became the first woman to own a seat on the NYSE and the first to head one of its member firms.Siebert operates through its subsidiaries Muriel Siebert & Co., Inc., Siebert AdvisorNXT, Inc., Park Wilshire Companies, Inc., Rise Financial Services, LLC, Siebert Technologies, LLC and StockCross Digital Solutions, Ltd. Through these entities, Siebert provides a full range of brokerage and financial advisory services including securities brokerage, investment advisory and insurance offerings, securities lending, and corporate stock plan administration solutions. For over 55 years, Siebert has been a company that values its clients, shareholders, and employees. More information is available at www.siebert.com.Cautionary Note Regarding Forward-Looking StatementsThe statements contained in this press release, that are not historical facts, including statements about our beliefs and expectations, are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements preceded by, followed by or that include the words "may," "could," "would," "should," "believe," "expect," "anticipate," "plan," "estimate," "target," "project," "intend" and similar words or expressions. In addition, any statements that refer to expectations, projections, or other characterizations of future events or circumstances are forward-looking statements.These forward-looking statements, which reflect our management’s beliefs, objectives, and expectations as of the date hereof, are based on the best judgement of our management. All forward-looking statements speak only as of the date on which they are made. Such forward-looking statements are subject to certain risks, uncertainties and assumptions relating to factors that could cause actual results to differ materially from those anticipated in such statements, including, without limitation, the following: economic, social and political conditions, global economic downturns resulting from extraordinary events such as the COVID-19 pandemic and other securities industry risks; interest rate risks; liquidity risks; credit risk with clients and counterparties; risk of liability for errors in clearing functions; systemic risk; systems failures, delays and capacity constraints; network security risks; competition; reliance on external service providers; new laws and regulations affecting our business; net capital requirements; extensive regulation, regulatory uncertainties and legal matters; failure to maintain relationships with employees, customers, business partners or governmental entities; the inability to achieve synergies or to implement integration plans and other consequences associated with risks and uncertainties detailed in our filings with the SEC, including our most recent filings on Forms 10-K and 10-Q.We caution that the foregoing list of factors is not exclusive, and new factors may emerge, or changes to the foregoing factors may occur, that could impact our business. We undertake no obligation to publicly update or revise these statements, whether as a result of new information, future events or otherwise, except to the extent required by the federal securities laws.View source version on businesswire.com: https://www.businesswire.com/news/home/20230807022960/en/ContactsInvestor Relations: Alex Kovtun and Matt GloverGateway Group, Inc. [email protected]

Business Wire

Siebert Reports Second Quarter 2023 Financial Results

https://finance.yahoo.com/news/siebert-reports-second-quarter-2023-134300022.html

aefce4e7-4682-38a5-bf48-7c3f285d49fe

SIGI

BRANCHVILLE, N.J., Aug. 29, 2023 /PRNewswire/ -- Selective Insurance Group, Inc. (Nasdaq: SIGI) announced today that executives John J. Marchioni, Chairman, President and Chief Executive Officer, and Mark A. Wilcox, Executive Vice President, Chief Financial Officer, will present at the 2023 Keefe, Bruyette & Woods Insurance Conference on Thursday, September 7, 2023 at 12:50 p.m. ET. Investors can listen live to Selective's presentation or access a recording by visiting the Investors page of www.Selective.com through October 6, 2023.(PRNewsfoto/Selective Insurance Group, Inc.)About Selective Insurance Group, Inc.Selective Insurance Group, Inc. (Nasdaq: SIGI) is a holding company for 10 property and casualty insurance companies rated "A+" (Superior) by AM Best. Through independent agents, the insurance companies offer standard and specialty insurance for commercial and personal risks and flood insurance through the National Flood Insurance Program's Write Your Own Program. Selective's unique position as both a leading insurance group and an employer of choice is recognized in a wide variety of awards and honors, including listing in Forbes Best Midsize Employers in 2023 and certification as a Great Place to Work® in 2023 for the fourth consecutive year. For more information about Selective, visit www.Selective.com.CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/selective-to-present-at-the-2023-keefe-bruyette--woods-insurance-conference-301913005.htmlSOURCE Selective Insurance Group, Inc.

PR Newswire

Selective to Present at the 2023 Keefe, Bruyette & Woods Insurance Conference

https://finance.yahoo.com/news/selective-present-2023-keefe-bruyette-201500377.html

9a985686-7899-39ad-8b58-8be2df74eb2e

SIGI

It has been about a month since the last earnings report for Selective Insurance (SIGI). Shares have lost about 2.6% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is Selective Insurance due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.Selective Insurance Q2 Earnings Meet, Revenues Rise Y/YSelective Insurance Group, Inc. reported second-quarter 2023 operating income of 99 cents per share, which matched the Zacks Consensus Estimate. The bottom line declined 15% from the year-ago quarter. The quarter witnessed renewal pure price increases, exposure growth, stable retention and strong new business. Higher catastrophe losses and escalating costs were offsets.Behind the HeadlinesTotal revenues of $1 billion increased 15.2% from the year-ago quarter’s figure, primarily due to higher premiums earned, net investment income and net premiums written. The top line outpaced the Zacks Consensus Estimate by 0.8%.On a year-over-year basis, NPW increased 17% to $1 billion, driven by renewal pure price increases, exposure growth, stable retention and strong new business. The figure matched our estimate.After-tax net investment income increased 37% year over year to $77.8 million. The increase was due to higher pre-tax investment income from fixed income securities portfolio, driven by higher book yields and the investment of operating and investing cash flows over the past year and higher pre-tax alternative investment income.After-tax net underwriting loss were $1.2 million against the year-ago underwriting income of $29.8 million. Pre-tax catastrophe losses doubled year over year to $100 million. Non-catastrophe property loss and loss expenses of $138.6 million increased 13.4% year over year.The combined ratio deteriorated 470 basis points (bps) on a year-over-year basis to 100.2, driven principally by higher catastrophe losses and lower prior year favorable casualty reserve development.Total expenses increased 18.6% year over year to $966.4 million, primarily due to higher loss and loss expenses incurred, other insurance expenses, amortization of deferred policy acquisition costs and corporate expenses. The figure was higher than our estimate of $882.9 million.Story continuesSegmental ResultsStandard Commercial Lines’ NPW was up 14% year over year to $870.1 million. Average renewal pure price increases of 6.7%, new business growth of 23%, strong exposure growth and consistent retention of 85% drove the improvement in NPW. The figure was higher than our estimate of $852.9 million. The combined ratio deteriorated 400 bps to 97.1. The Zacks Consensus Estimate was pegged at 95, while our estimate was 94.9.Standard Personal Lines’ NPW increased 32% year over year to $109.1 million. Renewal pure price increases averaged 3.4%, retention was 88% and new business was up $19.0 million, which drove the improvement in NPW. The figure was higher than our estimate of $84.9 million. The combined ratio deteriorated 960 bps on a year-over-year basis to 126.5. The Zacks Consensus Estimate was pegged at 110, while our estimate was 109.6.Excess & Surplus Lines’ NPW was up 20% year over year to $105.7 million, driven by average renewal pure price increases of 7.5% and new business growth of 27%. The figure was higher than our estimate of $103.7 million.The combined ratio deteriorated 490 bps to 100.7. The Zacks Consensus Estimate was pegged at 96, while our estimate was 96.2.Financial UpdateSelective Insurance exited second-quarter 2023 with total assets of $11.2 billion, which was 4% below the level at December 2022 end. Long-term debt of $503.6 million was flat with the 2022 level. Debt-to-total capitalization improved 70 bps to 15.9% from the level as of 2022 end.As of Jun 30, 2023, book value per share was $40.81, up 2.8% year over year.Annualized non-GAAP operating return on equity was 9.8% in the second quarter of 2023, which contracted 160 bps year over year.In the first half of 2023, Selective Insurance did not repurchase any shares. It had $84.2 million remaining under authorization as of Jun 30, 2023.2023 GuidanceSIGI estimates GAAP combined ratio of 96.5%, including net catastrophe losses of 6.0 points, up from prior guidance of 4.5 points. The combined ratio estimate assumes no additional prior year casualty reserve development. Selective Insurance estimates after-tax net investment income of $300 million that includes $30 million of after-tax net investment income from alternative investments.The overall effective tax rate is expected to be around 21%, which assumes an effective tax rate of 20% for net investment income and 21% for all other items.Weighted average shares were 61 million on a fully diluted basis.How Have Estimates Been Moving Since Then?It turns out, fresh estimates have trended upward during the past month.The consensus estimate has shifted 5.47% due to these changes.VGM ScoresAt this time, Selective Insurance has a subpar Growth Score of D, a grade with the same score on the momentum front. However, the stock was allocated a grade of B on the value side, putting it in the top 40% for this investment strategy.Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Selective Insurance has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportSelective Insurance Group, Inc. (SIGI) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Selective Insurance (SIGI) Down 2.6% Since Last Earnings Report: Can It Rebound?

https://finance.yahoo.com/news/selective-insurance-sigi-down-2-153150894.html

2a3aeef2-b753-33ad-9485-2f4aa5c2ed0d

SILK

On July 31, 2023, AllianceBernstein L.P., a prominent investment firm, executed a significant transaction involving Silk Road Medical Inc. (NASDAQ:SILK). The firm reduced its holdings in the medical device company by 2,415,071 shares, a change of -98.10%. This article provides an in-depth analysis of the transaction, the profiles of both AllianceBernstein L.P. and Silk Road Medical Inc., and the potential implications for value investors.Details of the TransactionWarning! GuruFocus has detected 3 Warning Signs with SILK. Click here to check it out. SILK 30-Year Financial DataThe intrinsic value of SILKThe transaction took place on July 31, 2023, with AllianceBernstein L.P. reducing its stake in Silk Road Medical Inc. by a substantial 98.10%. This resulted in a decrease of 2,415,071 shares, leaving the firm with a total of 46,800 shares in the company. The transaction was executed at a trade price of $22.84 per share and had a -0.02% impact on AllianceBernstein L.P.'s portfolio. Following the transaction, the firm's position in Silk Road Medical Inc. stands at 0.10%.Profile of AllianceBernstein L.P.AllianceBernstein L.P. is a globally recognized investment firm with roots dating back to 1967 and 1971. The firm was established through the merger of Sanford C. Bernstein and Alliance Capital in 2000, combining their respective expertise in value equity and growth equity. Today, AllianceBernstein L.P. manages nearly half a trillion in assets, with institutional assets making up about half of its total assets under management. The firm's top holdings include Amazon.com Inc(NASDAQ:AMZN), Alphabet Inc(NASDAQ:GOOG), Microsoft Corp(NASDAQ:MSFT), UnitedHealth Group Inc(NYSE:UNH), and Visa Inc(NYSE:V). The firm's equity stands at $232.6 billion, with a strong focus on the Technology and Healthcare sectors.AllianceBernstein L.P. Reduces Stake in Silk Road Medical Inc.Profile of Silk Road Medical Inc.Silk Road Medical Inc., a U.S.-based medical device company, was established in 2019. The company is known for its innovative approach to the treatment of carotid artery disease, known as transcarotid artery revascularization (TCAR). As of August 11, 2023, the company's market capitalization stands at $766.563 million, with a stock price of $19.74. However, the company's GF Value is listed as a possible value trap, indicating that investors should exercise caution. The company's GF-Score is 64/100, suggesting poor future performance potential.Story continuesAllianceBernstein L.P. Reduces Stake in Silk Road Medical Inc.Analysis of Silk Road Medical Inc.'s Financial PerformanceSilk Road Medical Inc.'s financial performance reveals a mixed picture. The company's Financial Strength is ranked 6/10, while its Profitability Rank is 3/10. The company's Growth Rank is 8/10, indicating a strong growth potential. However, its GF Value Rank and Momentum Rank are both 2/10, suggesting a potential value trap and weak momentum, respectively. The company's Piotroski F-Score is 3, indicating a poor financial health.Comparison with the Largest Guru Holder of Silk Road Medical Inc.The largest guru holder of Silk Road Medical Inc. is Baron Funds. However, the exact share percentage held by Baron Funds is not available. A comparison of Baron Funds' position in Silk Road Medical Inc. with that of AllianceBernstein L.P. would provide a more comprehensive understanding of the stock's potential.ConclusionAllianceBernstein L.P.'s recent transaction involving Silk Road Medical Inc. represents a significant shift in the firm's investment strategy. While the firm's reduction in its stake in the company may raise questions among investors, it's important to consider the broader financial performance and market conditions. As always, investors are advised to conduct their own thorough research before making any investment decisions.This article first appeared on GuruFocus.

GuruFocus.com

AllianceBernstein L.P. Reduces Stake in Silk Road Medical Inc.

https://finance.yahoo.com/news/alliancebernstein-l-p-reduces-stake-101934687.html

a81e4fe5-7d05-39c4-a706-ab6e8cf9d681

SILK

Silk Road MedicalSUNNYVALE, Calif., Sept. 04, 2023 (GLOBE NEWSWIRE) -- Silk Road Medical, Inc. (Nasdaq: SILK), a company focused on reducing the risk of stroke and its devastating impact, today announced that management will present at the CL King 21st Annual Best Ideas Conference.Management is scheduled to present on Monday, September 18, 2023, at 8:45 a.m. Pacific Time. Interested parties may access a live and archived webcast of the presentation on the “Investors” section of the company’s website at: https://investors.silkroadmed.com/.About Silk Road MedicalSilk Road Medical, Inc. (NASDAQ: SILK), is a medical device company located in Sunnyvale, California, and Plymouth, Minnesota, that is focused on reducing the risk of stroke and its devastating impact. The company has pioneered a new approach for the treatment of carotid artery disease called TransCarotid Artery Revascularization (TCAR). TCAR is a clinically proven procedure combining surgical principles of neuroprotection with minimally invasive endovascular techniques to treat blockages in the carotid artery at risk of causing a stroke. For more information on how Silk Road Medical is delivering brighter patient outcomes through brighter clinical thinking, visit www.silkroadmed.com and connect on Twitter, LinkedIn and Facebook.Investor Contact:Lynn Lewis or Marissa BychGilmartin [email protected]:Michael FanucchiSilk Road [email protected]

GlobeNewswire

Silk Road Medical to Present at the CL King 21st Annual Best Ideas Conference

https://finance.yahoo.com/news/silk-road-medical-present-cl-203000522.html

06211e99-0c04-3372-84a7-cbe5c6f2ba9f

SILO

Silo Pharma, Inc.Study data to determine potential delivery partnersENGLEWOOD CLIFFS, NJ, Aug. 08, 2023 (GLOBE NEWSWIRE) -- Silo Pharma, Inc. (Nasdaq: SILO) (“the Company”), a developmental stage biopharmaceutical company focused on merging traditional therapeutics with psychedelic research, today announced that it has advanced the formulation development for its therapeutic drug, SPC-15. The liquid nasal formulation will be used in SPC-15’s novel protocol intended for treatment and prevention of anxiety, PTSD, and other stress related disorders. The formulation development was in accordance with the Company’s sponsored research agreement and option with Columbia University. Linearity, accuracy, and repeatability were achieved in the feasibility study.“The progress of our feasibility study investigating dose strengths of SPC-15 is a significant advancement in our development work with this pipeline candidate,” said Eric Weisblum, Chief Executive Officer of Silo Pharma. “Results of the feasibility study will determine our selection of the manufacturing processes, and we are currently in discussions with potential delivery partners. We may also use the feasibility data for upcoming studies related to our SPC-14 therapeutic targeting Alzheimer’s disease.”In May 2023, Silo Pharma was awarded a U.S. Patent titled “Biomarkers for Efficacy of Prophylactic Treatments Against Stress-Induced Affective Disorders,” with claims protecting the key technology behind SPC-15 and further drug discovery.About Silo Pharma Silo Pharma. Inc. is a development-stage biopharmaceutical company focused on merging traditional therapeutics with psychedelic research for people suffering from indications such as PTSD, Alzheimer’s disease, and other rare neurological disorders. Silo’s mission is to identify assets to license and fund the research which we believe will be transformative to the well-being of patients and the healthcare industry. For more information visit www.silopharma.comStory continuesForward-Looking Statements All statements other than statements of historical fact in this announcement are forward-looking statements that involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company under takes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's filings with the SEC.Contact 800-705-0120 [email protected]

GlobeNewswire

Silo Pharma Reaches Positive Milestone with Nasal Formulation of SPC-15 For Anxiety, PTSD, and Stress-Related Disorders

https://finance.yahoo.com/news/silo-pharma-reaches-positive-milestone-123000356.html

a29d436a-4d49-328a-93cf-fdf6c4d9896d

SILO

Silo Pharma, Inc.Clarivate will monitor, manage, and maintain Company’s expanding IP portfolio ENGLEWOOD CLIFFS, NJ, Aug. 10, 2023 (GLOBE NEWSWIRE) --  Silo Pharma, Inc. (Nasdaq: SILO) (“the Company”), a developmental stage biopharmaceutical company focused on merging traditional therapeutics with psychedelic research, announced today that it has retained the services of Clarivate™, a leading global provider of information services including IP lifecycle management solutions. Under terms of the agreement, Clarivate will manage, maintain, and track the Company’s intellectual property assets and technology rights, and serve as an advisor for strategic IP and patent expansion in support of pipeline development.Silo Pharma engages in the acquisition, licensing, and development of intellectual property and technology rights from leading universities and researchers, including the use of psychedelic drugs. The Company’s IP-protected portfolio assets were acquired through exclusive drug development collaborations including a sponsored study agreement and a licensing option agreement with Columbia University; a license and option agreement and an investigator-sponsored study agreement with the University of Maryland, Baltimore; a joint venture with Zylö Therapeutics, Inc.; and a sponsored research agreement with the University of California, San Francisco.“Our new agreement with Clarivate gives us the opportunity to step up our intellectual property and patent expansion efforts and reinforce protection for our novel assets under development,” said Eric Weisblum, Chief Executive Officer of Silo Pharma. “Clarivate’s IP intelligence solutions will provide insights and clarity to inform our pursuit of future opportunities.”Silo Pharma currently holds 3 issued and provisional patents with additional patent applications pending.In 2023, year-to-date, Silo Pharma has been awarded 3 new patents and one patent extension:U.S. Patent 16/825,371, covering SPU-21 as a method of selectively targeting inflamed synovial tissue.U.S. Patent 11,622,948, covering the use of biomarkers in determining efficacy of SPC-15 as a method of treatment for a stress-induced affective disorder or stress-induced psychopathology.U.S. Patent 11,491,120, covering SPC-15 in a method of treating stress-induced affective disorders including anxiety and PTSD.Story continuesIn addition, the Company has filed a provisional patent application titled “Methods and Compositions for Pain Management.” The action supports a planned Investigational New Drug (IND) package submission to FDA for SP-26. Another provisional patent application was filed for the use of its central nervous system (CNS) homing peptides to treat Alzheimer's disease and the onset of dementia.About Silo Pharma Silo Pharma. Inc. is a development-stage biopharmaceutical company focused on merging traditional therapeutics with psychedelic research for people suffering from indications such as PTSD, Alzheimer’s disease, and other rare neurological disorders. Silo’s mission is to identify assets to license and fund the research which we believe will be transformative to the well-being of patients and the healthcare industry. For more information visit www.silopharma.comForward-Looking Statements All statements other than statements of historical fact in this announcement are forward-looking statements that involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company under takes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's filings with the SEC.Contact 800-705-0120 [email protected]

GlobeNewswire

Silo Pharma Engages Clarivate for Intellectual Property and Patent Management

https://finance.yahoo.com/news/silo-pharma-engages-clarivate-intellectual-125000140.html

258a2633-1952-3116-a3f2-62ef3d2141ab

SITE

HIGHLANDS RANCH, Colo., September 01, 2023--(BUSINESS WIRE)--Pioneer Landscape Centers, a distributor of landscape and hardscape materials with 35 locations in Colorado and Arizona, today announced that it has completed its sale to SiteOne® Landscape Supply, Inc. (NYSE: SITE), the largest and only national full product line wholesale distributor of landscape supplies in the United States.This sale is the logical next step for Pioneer, which has invested in its technology infrastructure and processes over the past few years to streamline its distribution, inventory, and sales functions."SiteOne is a strategic leader in customer experience," said Kevin Guzior, president of Pioneer. "Joining the SiteOne family will afford us a multitude of opportunities to grow and better serve our employees and customers.""For more than 55 years, Pioneer has built a strong business with talented associates, a strategic network of locations in high-growth markets, and best-in-class delivery capability," said Doug Black, chairman and CEO of SiteOne Landscape Supply. "The combination of SiteOne and Pioneer makes us the clear market leader in Colorado and Arizona with terrific capability to serve landscaping customers across this fast-growing region."The sale of Pioneer Landscape Centers to SiteOne Landscape Supply follows the sale of Pioneer’s Quarry operations to Holcim US earlier in 2023.About PioneerEstablished in 1968, Pioneer is a leading distributor of hardscapes and landscape supply products, including bulk materials, decorative rock, pavers, artificial turf, and supporting products, with 35 branches across Colorado and Arizona.About SiteOne Landscape SupplySiteOne Landscape Supply (NYSE: SITE), is the largest and only national full product line wholesale distributor of landscape supplies in the United States and has a growing presence in Canada. Its customers are primarily residential and commercial landscape professionals who specialize in the design, installation and maintenance of lawns, gardens, golf courses and other outdoor spaces. https://www.siteone.com/Story continuesView source version on businesswire.com: https://www.businesswire.com/news/home/20230901650411/en/ContactsInvestor RelationsSiteOne Landscape Supply, [email protected] orMediaSiteOne Landscape Supply, Inc.Allison Flynn 470-277-7293Director, Integrated [email protected] PuccioPulse8 [email protected] (919) 610-6694

Business Wire

Pioneer Landscape Centers Announces Sale to SiteOne Landscape Supply to Bolster Ability to Serve Customers

https://finance.yahoo.com/news/pioneer-landscape-centers-announces-sale-150900289.html

b077309c-d778-3522-95aa-1bad651a34d2

SITE

There are a few key trends to look for if we want to identify the next multi-bagger. In a perfect world, we'd like to see a company investing more capital into its business and ideally the returns earned from that capital are also increasing. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. That's why when we briefly looked at SiteOne Landscape Supply's (NYSE:SITE) ROCE trend, we were pretty happy with what we saw.Return On Capital Employed (ROCE): What Is It?For those that aren't sure what ROCE is, it measures the amount of pre-tax profits a company can generate from the capital employed in its business. Analysts use this formula to calculate it for SiteOne Landscape Supply:Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)0.12 = US$272m ÷ (US$2.9b - US$683m) (Based on the trailing twelve months to July 2023).Thus, SiteOne Landscape Supply has an ROCE of 12%. That's a relatively normal return on capital, and it's around the 14% generated by the Trade Distributors industry. View our latest analysis for SiteOne Landscape Supply roceIn the above chart we have measured SiteOne Landscape Supply's prior ROCE against its prior performance, but the future is arguably more important. If you're interested, you can view the analysts predictions in our free report on analyst forecasts for the company.What Can We Tell From SiteOne Landscape Supply's ROCE Trend?While the current returns on capital are decent, they haven't changed much. The company has consistently earned 12% for the last five years, and the capital employed within the business has risen 150% in that time. 12% is a pretty standard return, and it provides some comfort knowing that SiteOne Landscape Supply has consistently earned this amount. Over long periods of time, returns like these might not be too exciting, but with consistency they can pay off in terms of share price returns.Story continuesThe Bottom Line On SiteOne Landscape Supply's ROCETo sum it up, SiteOne Landscape Supply has simply been reinvesting capital steadily, at those decent rates of return. And the stock has followed suit returning a meaningful 78% to shareholders over the last five years. So even though the stock might be more "expensive" than it was before, we think the strong fundamentals warrant this stock for further research.If you want to continue researching SiteOne Landscape Supply, you might be interested to know about the 1 warning sign that our analysis has discovered.If you want to search for solid companies with great earnings, check out this free list of companies with good balance sheets and impressive returns on equity.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Returns At SiteOne Landscape Supply (NYSE:SITE) Appear To Be Weighed Down

https://finance.yahoo.com/news/returns-siteone-landscape-supply-nyse-135125032.html

3ab49cd4-019b-37e9-ac81-61a51f213305

SJM

Twinkies owner Hostess Brands is closing in on a sale to J.M. Smucker a move that would marry the two big names in snacks. Smucker prevailed in a heated competition with General Mills parent of Cheerios and Betty Crocker. Two investment firms bought the company out of liquidation a decade ago, returning Twinkies to store shelves after an eight-month absence.Continue reading

The Wall Street Journal

J.M. Smucker Nears Deal to Buy Hostess

https://finance.yahoo.com/m/cf388d1b-15c2-3d4e-b0ef-4a6d58fb822f/j-m-smucker-nears-deal-to.html

cf388d1b-15c2-3d4e-b0ef-4a6d58fb822f

SJM

WHATS NEWS BUSINESS FINANCE Wall Street expects corporate earnings to rebound after three quarters of year-over-year declines, a development that could put the stock market’s faltering rally on a firmer footing.Continue reading

The Wall Street Journal

What’s News: Business & Finance

https://finance.yahoo.com/m/1a5aebb6-7f11-3306-92ed-135610a97e94/what%E2%80%99s-news-business-.html

1a5aebb6-7f11-3306-92ed-135610a97e94

SKIN

Netflix upgraded, Olaplex downgraded: Wall Street's top analyst callsThe most talked about and market moving research calls around Wall Street are now in one place. Here are today's research calls that investors need to know, as compiled by The Fly.Top 5 Upgrades:Loop Capital upgraded Netflix (NFLX) to Buy from Hold with a price target of $500, up from $425. The shares have corrected 15% from its recent gains, but more importantly, Netflix's fundamentals continue to improve, the analyst tells investors in a research note. [read more]Cantor Fitzgerald upgraded Ardelyx (ARDX) to Overweight from Neutral with a price target of $10, up from $5. The analyst increased sales estimates for the company's flagship drug, Xphozah, and thinks the Street is underappreciating its peak sales potential. [read more]Morgan Stanley upgraded Shift4 Payments (FOUR) to Equal Weight from Underweight with a price target of $57, up from $52. The analyst sees the stock's current valuation as "more appropriate and reflective" of the company's strong volume trends, balanced with its long-term revenue challenges related to falling spreads. [read more]UBS upgraded Cullen/Frost (CFR) to Neutral from Sell with a price target of $100, up from $97. The firm says its concerns about risks to forward net interest income and multiple compression have largely played out. [read more]Morgan Stanley upgraded Abercrombie & Fitch (ANF) to Equal Weight from Underweight with a price target of $51, up from $18. The company's Q2 report "lends further credibility" to the A&F turnaround while the Hollister inflection "is in early stages," the analyst tells investors in a research note. [read more]Top 5 Downgrades:Piper Sandler downgraded Olaplex Holdings (OLPX) to Underweight from Neutral with a price target of $2, down from $3. Piper's quarterly salon survey shows that instead of seeing improvement, "things look to have stabilized at a weaker level," the analyst tells investors in a research note. [read more]RBC Capital downgraded Clarivate (CLVT) to Sector Perform from Outperform with a price target of $8, down from $9. The possibility of strategic optionality for the company is likely diminished with higher interest rates, changes in the investor base, and management's focus on turning around product and execution, the firm says. [read more]TD Cowen downgraded Domo (DOMO) to Market Perform from Outperform with a price target of $14, down from $20. After a "slight" Q2 beat, the company significantly lowered its fiscal 2024 guidance and reduced second half billings growth from 15% to negative 1%, the analyst tells investors in a research note. [read more]Evercore ISI downgraded FIS (FIS) to In Line from Outperform with a price target of $60, down from $75, based on a revised sum-of-the-parts analysis that factors in what the firm calls "substantially increasing competition" in both U.S. merchant acquiring and in Banking Solutions. [read more]Deutsche Bank downgraded Digital Realty Trust (DLR) to Hold from Buy with a price target of $131, up from $112. Digital has delivered on its plan "with a highly favorable market backdrop," but cites valuation for the downgrade, seeing limited upside potential from current share levels. [read more]Top 5 Initiations:Piper Sandler assumed coverage of Western Alliance (WAL) with an Overweight rating and $60 price target. The company is among the industry's "most heavily discounted bank stocks for a top performing institution with industry leading returns, relative market strength, and a sophisticated management team," the analyst tells investors in a research note. [read more]Maxim initiated coverage of Performance Shipping (PSHG) with a Buy rating and $4.00 price target. The analyst sees the stock as a pure play on Aframax tankers, which are smaller than other long-range tankers and carry greater flexibility to shift cargo types while offering ability to dock at smaller ports. [read more]Oppenheimer initiated coverage of Zura Bio (ZURA) with an Outperform rating and $17 price target. With a focus on Phase 2-ready asset ZB-106, also known as tibulizumab, the firm sees Zura having two emerging clinical pipeline programs for hidradenitis suppurativa, or HS, and systemic sclerosis, or SSc, the analyst tells investors. [read more]Northcoast initiated coverage of Carpenter Technology (CRS) with a Buy rating and $73 price target. [read more]Canaccord assumed coverage of Beauty Health (SKIN) with a Buy rating and $10 price target. The firm believes the shares have significant upside potential as management continues to expand the platform to new providers, upgrades existing customers to the newest Syndeo systems, and executes on its long term goals. [read more]

The Fly

Netflix upgraded, Olaplex downgraded: Wall Street's top analyst calls

https://finance.yahoo.com/news/netflix-upgraded-olaplex-downgraded-wall-134253321.html

6e72b615-9e1d-31ca-90e8-3ffe868c54da

SKIN

LONG BEACH, Calif., September 07, 2023--(BUSINESS WIRE)--The Beauty Health Company (NASDAQ: SKIN), home to flagship brand Hydrafacial, today announced exclusive Hydrafacial pop-up treatment suites at London’s leading luxury department store, Harrods, now through the end of September.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230907084232/en/Hydrafacial Treatment Suites in Harrods (Photo: Business Wire)Located inside Harrods’ iconic Hair and Beauty Salon, the Hydrafacial suites provide a luxurious and serene setting to experience the leading skin health treatment within a premier beauty destination.Dubbed The Hydrafacial Boost, the Hydrafacial treatment experience at Harrods will deeply cleanse, extract and hydrate the skin while addressing specific skin concerns with a range of personalized ingredients. The results are immediate, pain-free and glowing. Guests are refreshed by an immediate confidence boost with no downtime.Each Hydrafacial treatment can be customized through a variety of boosters that are formulated with active ingredients to target specific skin concerns such as acne, hyperpigmentation, fine lines, and wrinkles, and concludes with LED light therapy. Guests can choose to further elevate their treatment experience by adding on Perk Lip or Eye treatments for the ultimate Hydrafacial glow."Hydrafacial joins the world’s most innovative beauty brands on the Fifth Floor of Harrods, offering shoppers with discerning taste the ultimate personalized skin health experience," said BeautyHealth President and Chief Executive Officer Andrew Stanleick. "Hydrafacial’s treatment suites open as consumers increasingly desire treatments that deliver immediate and transformative results and seek out enriching in-store experiences wherever they shop luxury and beauty.""We’re excited to introduce Harrods’ customers to the Hydrafacial treatment experience, elevating our already unrivaled treatment menu even further," says Harrods London General Manager Joanne Such. "As a viral sensation beloved by tastemakers and clinicians alike, we’re confident that the Hydrafacial treatment suite will be a popular destination for beauty-lovers, both old and new."Story continuesHydrafacial’s retail presence makes the coveted treatment available wherever consumers seek out beauty health experiences. Thanks to the brand’s growing awareness, Hydrafacial also has a reputation for driving foot traffic to partner businesses, including medical aesthetics practices, medspas, spas, retail and hospitality locations.Consumers may book a Hydrafacial treatment at Harrods throughout the month of September by visiting Harrods.com or calling +44(0)20 7893 8333 or find a local provider at https://hydrafacial.com/find-a-provider/.About The Beauty Health CompanyThe Beauty Health Company (NASDAQ: SKIN) is a global category-creating company delivering millions of skin health experiences every year that help consumers reinvent their relationship with their skin, bodies, and self-confidence. Our brands are pioneers: Hydrafacial™ in hydradermabrasion, SkinStylus™ in microneedling, and Keravive™ in scalp health. Together, with our powerful community of estheticians, partners, and consumers, we are personalizing skin health for all ages, genders, skin tones, and skin types in more than 90 countries. We are committed to being ever more mindful in how we conduct our business to positively impact our communities and the planet. Find a local provider at https://hydrafacial.com/find-a-provider/, and learn more at beautyhealth.com or LinkedIn.About HarrodsHarrods has been serving customers from its Knightsbridge store since 1849 and today the store is the world’s ultimate luxury emporium. Harrods is home to more than 3000 curated brands as well as over 20 dining destinations and expert fashion, home, beauty and wellness services. In addition, Harrods serves customers via harrods.com, H beauty and airport stores and hospitality destinations in China and Qatar. Harrods continues to be guided by its philosophy of "anything is possible" to ensure that customers enjoy unparalleled experiences with every visit. Follow @harrods on Instagram and Harrods哈罗德百货 on WeChat.View source version on businesswire.com: https://www.businesswire.com/news/home/20230907084232/en/ContactsPress: [email protected] Investors: [email protected]

Business Wire

BeautyHealth Opens Exclusive Hydrafacial Pop-Up Treatment Suites in Harrods

https://finance.yahoo.com/news/beautyhealth-opens-exclusive-hydrafacial-pop-123200121.html

2f38ae01-a467-3488-bff0-d3ec1f4728c1

SKM

In this piece, we will take a look at the ten Korean stocks listed in the U.S. If you want to skip our introduction to Korean businesses and want to jump ahead to the top five stocks in this list, then check out 5 Korean Stocks Listed in the U.S. South Korea, officially known as the Republic of Korea, is one of the largest economies in the world. It had a gross domestic product (GDP) of $1.65 trillion in nominal terms as of 2022, making it the 13th biggest economy in the world. And while some countries, like the U.K. or the U.S., have had large economies for decades, South Korea, like India has only recently risen to economic prosperity.In fact, Korean economic history before the paradigm shift in its economy is typical of a third world country. Ruled by its military for much of its history after the partition of the Korean peninsula, South Korea suffered from corruption and poor governance as its civil service was put in place by the Japanese during their colonization. After the second world war, America was the biggest aid provider to South Korea, often accounting for as much as 80% of the country's total finances and the money that its government needed to run. South Korea also kept its currency highly overvalued, a typical occurrence in third world countries. This provided little incentives for Korean firms to export and also provided the local population with cheap imported products that were subsidized by the government. At the same time, government corruption and cronyism lead to government officials channeling aid dollars to themselves, by providing import licenses to their preferred businessmen.It was national security concerns that precipitated a shift in the Korean economy, as its military government did not want to stay behind North Korea in industrialization. South Korea rapidly industrialized its economy in the 1960s and the 1970s and was significantly helped by Japan which provided high end technology to the country. At the same time, the politics of the Cold War era began to emerge, and America felt that it needed to expand its diplomatic presence in Asia by establishing ties with China and withdrawing forces from Vietnam. The Vietnam War was also a boon for South Korea as it contributed to the war effort and its companies won lucrative construction projects, but the American pivot created urgency to diversify itself away from the superpower.Story continuesSince then, South Korea has diversified away from a government planned economy to one that is now dominated by market forces. And its economic transformation, one which also led it to weather the Great Recession of 2008, has also produced some of the biggest companies in the world. South Korean firms are among the most advanced companies in the world, and they are distinct when it comes to the scope of their operations.Korea's largest company in terms of market capitalization is one firm that we have all heard of. If you haven't figured it out, it's the Samsung Group - a business behemoth with an unimaginable number of businesses under its umbrella. Samsung has eighty different businesses, and these range from making semiconductors to televisions, washing machines, medicines, smartphones, heavy machinery, and a lot more. Apart from Samsung, other large Korean firms are Hyundai (which rose after winning American contracts during the Vietnam War), LG (another well known consumer electronics firm), and Kia.However, while South Korea has rapidly risen to become a global economic power, it still isn't immune from the recent turbulence in the global economy. Soaring inflation all over the world has pushed central banks to raise interest rates to extremely high levels in a short time period. This stresses credit conditions and according to the International Monetary Fund (IMF) places Korean firms at risk if the high rates persist. The problems are further exacerbated by the fact that South Korea is one of the few countries in the world where non financial firms also have high debt levels.Additionally, Korean economic growth is also slowing down with the country reporting a seventh consecutive month of export drop in April 2023. This is primarily due to Chinese economic woes, as the world's largest economy in purchasing power parity terms continues to struggle to return to growth after reopening its economy in December. This has forced the Korean government to take action, with the Korean government now slated to provide $17 billion in loans to exporters to stimulate their business growth, especially since July marked the tenth consecutive month of export drop in the country. At the same time, the government is also raising financing for its own purposes, with South Korea slated to issue Yen dominated Samurai bonds worth 20 billion Yen for the first time.As to the on ground situation for Korean firms, here's what KB Financial Group Inc. (NYSE:KB)'s management had to say during the firm's second quarter of 2023 earnings conference call:But considering the recent interest rate trend and macro backdrop, we expect NIM to – and to face downward pressure during the second half. And as we continue to stick to conservative lending stance in light of internal and external uncertainties, loan growth will inevitably be constrained with ’23 second half interest income growth suppressed. KBFG will pursue growth around high-quality assets to secure sustainable interest income basis and by continuing our efforts around business diversification, we will drive growth of nonbank and noninterest business, while corporate-wide cost control will help fuel steady and solid bottom line growth during the year. Also, in order to bring sustainable growth, KBFG has been steadfast towards inclusive financing, leading the efforts and making social contribution, pursuing co-prosperity with the local communities, and we’ll continue to find ways to solve society’s issues and expand our role in practicing social responsibility that define sustainable transformation.In the meanwhile, with prolonged global economic recession, domestic economy is also experiencing a slump and higher interest rate which has heightened concern over deepening credit risk. As such, KBFG is focused on preemptive risk management from a more conservative perspective. As a result, first half group’s PCL, including Q1 general provisioning increased significantly versus last year, but we expect this will alleviate the impact from economic shocks going forward and will be a positive factor in removing business uncertainties and reducing profit volatilities driven by credit loss. For your information, group and bank’s NPL coverage ratio as of end of June were 201% and 254%, respectively, attesting to industry’s highest loss absorption capacity against potential losses.With these details in mind, let's take a look at some Korean stocks that trade on U.S. exchanges.10 Korean Stocks Listed in the U.S.Pixabay/Public DomainOur Method0logy To compile our list of Korean stocks listed on U.S. exchanges, we collected all South Korean firms whose shares trade on either the NASDAQ or NYSE. The firms are ranked according to their market capitalization and the list is not all inclusive.10 Korean Stocks Listed in the U.S.1. POSCO Holdings Inc. (NYSE:PKX)Latest Market Capitalization: $31.23 billion POSCO Holdings Inc. (NYSE:PKX) is a steel company headquartered in Pohang, South Korea. The firm sells steel and iron products to different industries. While the shares have a $17 upside based on the average share price target, the stock is rated Buy on average.Insider Monkey's Q2 2023 survey of 910 hedge funds revealed that seven had held a stake in POSCO Holdings Inc. (NYSE:PKX). Its shares jumped by more than 24% in July after the firm reported $1 billion in operating income for its latest quarters and laid out a plan to diversify its business away from steel manufacturing and focus on electric vehicle battery manufacturing.2. KB Financial Group Inc. (NYSE:KB)Latest Market Capitalization: $14.69 billion KB Financial Group Inc. (NYSE:KB) is a South Korean regional bank headquartered in Seoul, South Korea. It provides a wide variety of banking products and services, including loans, brokerage, and insurance services.During this year's second quarter, 11 of the 910 hedge funds surveyed by Insider Monkey had invested in the bank. KB Financial Group Inc. (NYSE:KB)'s largest shareholder among these is Peter Rathjens, Bruce Clarke, and John Campbell's Arrowstreet Capital through a stake worth $41.3 million.3. Shinhan Financial Group Co., Ltd. (NYSE:SHG)Latest Market Capitalization: $13.32 billion Shinhan Financial Group Co., Ltd. (NYSE:SHG) is another regional bank and one that is also headquartered in South Korea's capital, Seoul. Few analysts cover its shares, and the bank's second quarter net income stood at $941 million.As of June 2023, six of the 910 hedge funds polled by Insider Monkey had bought and invested in Shinhan Financial Group Co., Ltd. (NYSE:SHG)'s shares. Richard S. Pzena's Pzena Investment Management is the biggest hedge fund shareholder, with a $22 million investment.4. Korea Electric Power Corporation (NYSE:KEP)Latest Market Capitalization: $8.74 billion Korea Electric Power Corporation (NYSE:KEP), as the name suggests, is a power company. It is one of the largest power companies in the world, and one of the oldest on our list since it was set up in 1898.After digging through 910 hedge funds for their June quarter of 2023 shareholdings, Insider Monkey discovered that six had held a stake in the company. Korea Electric Power Corporation (NYSE:KEP)'s largest investor in our database is David Iben's Kopernik Global Investors since it owns a $12.2 million stake.5. SK Telecom Co., Ltd. (NYSE:SKM)Latest Market Capitalization: $7.72 billion SK Telecom Co., Ltd. (NYSE:SKM) is one of the largest telecommunications companies in South Korea. The firm set up a global telecommunications alliance for focusing on artificial intelligence in July.Four of the 910 hedge funds part of Insider Monkey's Q2 2023 database had invested in SK Telecom Co., Ltd. (NYSE:SKM). Out of these, the biggest stakeholder is Peter Rathjens, Bruce Clarke, and John Campbell's Arrowstreet Capital with an investment worth $24 million.Click to continue reading and see 5 Korean Stocks Listed in the U.S.Suggested Articles:Top 20 Companies in Japan by Market Cap11 Best Asian Stocks to Buy10 Oversold Bank Stocks To BuyDisclosure: None. 10 Korean Stocks Listed in the U.S. is originally published on Insider Monkey.

Insider Monkey

10 Korean Stocks Listed in the U.S.

https://finance.yahoo.com/news/10-korean-stocks-listed-u-134510151.html

f7412deb-e725-310e-b727-35512fe11eda

SKM

This article will list the largest recipients of international aid and examine their economic statuses to explain why these nations depend on foreign aid. If you'd like to skip our overview of why major aid-receiving nations like Yemen, Afghanistan, and Somalia aren't on this list, read 10 Countries That Receive The Most Foreign Aid Per Capita.Countries that receive the most foreign aid per capita are not those getting the largest total amounts but the ones with smaller populations and consistent foreign aid flows. According to the OECD's report, developing countries in Oceania, i.e., Tuvalu, Nauru, Palau, and the Marshall Islands, are among the countries that receive the highest foreign aid per capita. Notably, donor countries that allocate humanitarian aid see more stable environments in smaller nations, courtesy of the focused attention and support they receive. Conversely, larger nations, despite receiving heftier sums, may not exhibit the same level of transformative change from foreign aid. Countries with the highest rates of poverty largely depend on foreign aid because of their limited resources and, oftentimes, high population growth rates. According to the OECD, foreign aid reached an all-time high of $204 billion from all official donors, up from $186 billion in 2021. Alarming levels of food insecurity and the refugee situation have compelled developed countries to spend more on humanitarian aid. However, foreign aid is not as simple as seeing a country in need and giving it money to lift its economic status because the ground realities of monetary help often don't yield significant results.For instance, billions have been poured into Afghanistan's reconstruction post-2001, a portion of which goes to the education sector. However, in the mid-2010s, journalistic investigations by BuzzFeed revealed that many schools in Afghanistan, built using foreign aid, either didn't exist or there were exaggerated claims about the number of students enrolled in them. These instances gave rise to the term "ghost schools," and the funds meant for these projects were believed to have been siphoned off by warlords and corrupt local officials. This is just one example of how well-intended foreign aid needs strict monitoring to yield the expected outcomes.Story continuesWhen discussing opinions on foreign aid, William Easterly, an American Economist and professor of economics at New York University, critiques the foreign aid system for its inefficiency. In his book, "The White Man's Burden," Easterly is particularly critical of sweeping plans and initiatives to "eradicate poverty" or achieve similar grand goals without clear, measurable steps or accountability. He argues that such initiatives don't consider ground realities and fail to achieve their objectives.On the other hand, Jeffrey Sachs speaks in favor of foreign aid and believes that many of the world's poorest countries are stuck in poverty traps. These traps are situations where they cannot achieve sustainable economic growth without external assistance. Notably, these poverty traps can be due to food insecurity, poor infrastructure, lack of access to education and health services, or geographical and environmental challenges.Regardless of the opinions, substantial portions of foreign aid from OECD countries, namely the US, Germany, the EU, and the UK, go to the poorer parts of the world. We have already discussed the 25 Countries That Give the Most Foreign Aid Per Capita; read our article to know which nations allocate generous budgets to help others.Spending Foreign Aid Smartly Is The Way OutNatural disasters and humanitarian crises call for immediate monetary help. But what usually happens when they settle down? The affected countries are left to deal with the aftermath without a clear direction for the future. Therefore, economists like Nobel-prize winner Paul Romer have spoken about the importance of ideas and innovation in driving economic growth. Romer's "endogenous growth theory" concept explains the value of investing in knowledge and innovation, which are key components of startup and growth ecosystems.If we talk about countries that have invested well in knowledge and innovation, South Korea and Japan come to mind. After the Korean War ended, South Korea received substantial foreign aid (over $13 billion from the US alone) to invest in its core sectors. Today, the country's companies, like POSCO Holdings Inc (NYSE:PKX) and SK Telecom Co., Ltd (NYSE:SKM), are worth billions and have created thousands of jobs in the country.Notably, POSCO Holdings Inc (NYSE:PKX) is among the most valuable Korean companies in the world and is involved in power generation and the trading of steel & raw materials sectors. SK Telecom Co., Ltd (NYSE:SKM) provides wireless telecommunication and internet services; the company's products include mobile phones, wireless data, and information communication, among others. While SK Telecom Co., Ltd (NYSE:SKM) and POSCO Holdings Inc (NYSE:PKX) are not products of foreign aid, they surely depict how a country's resilience in technology and innovation can lift it out of adversity.Likewise, after World War II, Japan received aid from the US, which was instrumental in rebuilding the country's economy. Japan then transformed into the third-largest economy in the world and became the 5th largest donor in terms of the dollar value of its foreign aid (ODA) to other countries, according to Princeton University. In the current economic landscape, Japan's Toyota Motor Corporation (NYSE:TM) is one of the biggest car companies by sales, reflecting the country's immense progress.Toyota Motor Corporation (NYSE:TM) held its title as the world's top-selling automaker firmly in 2022. Besides employing over 300K people, the company's sales are also impressive, recording over 10 million vehicles sold worldwide in 2022. Notably, after World War II, Toyota Motor Corporation (NYSE:TM) collaborated with the US to learn techniques and technology in vehicle manufacturing, making it one of the largest car companies in the world. This stamps our point about how investing in innovation and human capital can make countries self-sufficient rather than relying on foreign aid, which often leads to significant corruption scandals.Let's now proceed with countries that receive the most foreign aid per capita.25 Countries that Receive the Most Foreign Aid Per Capita25 Countries that Receive the Most Foreign Aid Per CapitaOur Methodology To compile our list of the largest recipients of foreign aid, we began by shortlisting 25 countries with regular foreign aid receipts and small to medium population sizes. This approach allowed us to identify nations with significant per capita foreign aid, even if their total lump-sum foreign aid was not as large. Using the OECD's "Geographical Distribution of Financial Flows to Developing Countries 2023: Disbursements, Commitments, Country Indicators" Report, we pinpointed countries receiving the highest per capita foreign aid. The comprehensive report explores financial interactions between developed and developing nations to offer a thorough understanding of global foreign aid distribution. We specifically focused on the category 'Net Disbursements Of ODA (Official Development Assistance) From All Sources Combined (USD million)' to determine the global foreign aid amounts. We extracted data for these 25 nations from 2017-2021 from the OECD report and then divided their total foreign aid by their populations for those years. This step allowed us to determine the per capita aid for each country over the 5-year period. By averaging these individual figures, we got our final rankings. Additional sources consulted for this study included the World Bank, Development Initiatives, and the World Economic Forum, among others.Based on our findings, here are 25 countries with the highest per capita aid inflow:25. MauritiusAverage Per Capita Foreign Aid Received Between 2017-2021: $115Mauritius was once largely reliant on sugar exports but has diversified its economy over recent decades toward textiles and tourism. Currently, the country's per capita GDP is $10,216, prompting one to wonder why it would need foreign aid. According to the Borgen Project, foreign aid to Mauritius is used to secure future democratic peace and stability in Mauritius and, more broadly, throughout Africa. Given its small size and insular nature, Mauritius faces rising sea levels and other environmental challenges, necessitating international assistance.24. BelizeAverage Per Capita Foreign Aid Received Between 2017-2021: $127Belize has a coastal economy that often faces the wrath of climate-induced adversities, such as hurricanes. Therefore, foreign aid to the Central American nation mainly focuses on disaster relief, environmental conservation, and sustainable growth. Also, poverty and underdevelopment in certain regions have led to international support, which currently stands at $127 per capita.23. MoldovaAverage Per Capita Foreign Aid Received Between 2017-2021: $147Moldova, situated between Romania and Ukraine, ranks 1st among the Poorest Countries in Europe, with a current GDP of $440 per adult. The nation's political and economic challenges stem from the post-Soviet transition, making it a significant recipient of foreign aid. Assistance mainly targets institutional reforms and governance since Moldova's position frequently places it amidst East-West geopolitical tensions.22. South SudanAverage Per Capita Foreign Aid Received Between 2017-2021: $176The world's youngest nation ranks high among the most aid-dependent countries due to its alarming food insecurity. Continued strife and civil unrest have created a dire humanitarian crisis in South Sudan. As a result, foreign aid to the country focuses on addressing food scarcity and supporting internally displaced populations.21. Timor-Leste Average Per Capita Foreign Aid Received Between 2017-2021: $182Once under Portuguese and Indonesian rule, Timor-Leste gained its independence in 2002. Although this young nation is rich in natural resources, it struggles with the challenges of nation-building and has a per capita GDP of $2358. Foreign aid to Timor-Leste is geared toward meeting its developmental needs, including health, education, and infrastructure.20. Kosovo Average Per Capita Foreign Aid Received Between 2017-2021: $231Kosovo is the 3rd poorest country in Europe in terms of per capita GDP, which stands at $6512. The country declared independence in 2008 after emerging from a tumultuous history marked by the Yugoslav wars. Foreign aid is pivotal to its nation-building as it supports institutional development, justice sector reform, and economic stabilization.19. Lebanon Average Per Capita Foreign Aid Received Between 2017-2021: $233Lebanon's strategic significance in the Middle East is undeniable. However, political instability, regional conflicts, and a massive influx of refugees have stretched its resources thin. The country receives foreign aid to address these multifaceted challenges. The monetary aid focuses on supporting Syrian refugees, reconstructing areas affected by events like the 2020 Beirut explosion, and facilitating economic stability.18. Fiji Average Per Capita Foreign Aid Received Between 2017-2021: $258Fiji, an archipelago in the Pacific, faces vulnerabilities due to climate change, particularly from cyclones and rising sea levels. Therefore, ODA (official development assistance) from developed countries is crucial for the island nation's climate adaptation and mitigation measures. As Fiji seeks to diversify its tourism-centric economy, international support bolsters its agriculture, health, and education sectors to ensure steady growth.17. Maldives Average Per Capita Foreign Aid Received Between 2017-2021: $264The Maldives, another island nation, wrestles with the repercussions of climate change. Heavy rains often result in floods, and rising sea levels threaten the country's very existence. Although the Maldives doesn't require assistance with hunger relief, given its per capita GDP of $11817, most foreign aid is allocated to enhance its climate resilience.16. Jordan Average Per Capita Foreign Aid Received Between 2017-2021: $275Jordan has consistently demonstrated remarkable resilience, hosting refugees from neighboring conflicts and enduring the challenging living conditions prevalent in neighboring countries like Iraq and Syria. As a result, the nation's socioeconomic fabric is strained by the influx of refugees (it has the second-highest number of refugees per capita). Consequently, foreign aid becomes essential for Jordan to support these refugee communities, alleviate water scarcity issues, and ensure stability amidst a tumultuous regional landscape.15. Sao Tome and PrincipeAverage Per Capita Foreign Aid Received Between 2017-2021: $281Sao Tome and Principe, with a per capita GDP of $2404, finds 15.6% of its population surviving on less than $2.15 a day. Located off the Central African coast, the small island nation is renowned for its cocoa production but combats economic vulnerabilities due to limited diversification. Foreign aid to Sao Tome and Principe targets agricultural practices and tackles public health concerns to enhance the quality of life for its residents.14. St. Lucia Average Per Capita Foreign Aid Received Between 2017-2021: $283St. Lucia is located on the stunning Caribbean coastline and relies heavily on tourism. Foreign aid helps the country mitigate vulnerabilities associated with natural disasters (like hurricanes) and economic fluctuations.13. GrenadaAverage Per Capita Foreign Aid Received Between 2017-2021: $307In the past, Grenada has experienced significant economic contractions following hurricane devastation. Its reliance on foreign aid primarily stems from the need for disaster recovery. Notably, under CBSI, Grenada receives counter-narcotics assistance from the United States. Alongside monetary aid, the US has also provided training and equipment to Grenadian security forces.12. Solomon IslandsAverage Per Capita Foreign Aid Received Between 2017-2021: $391Australia stands as the main development partner of the Solomon Islands, having provided over $100 million to the country between 2021-2022 as ODA. This aid enhances connectivity between the islands, expanding educational outreach and bolstering the health infrastructure to be more prepared for emergencies.11. SyriaAverage Per Capita Foreign Aid Received Between 2017-2021: $501The dire conditions in the Syrian Arab Republic are widely recognized. Consequently, the country receives substantial foreign aid from entities like the EU, Turkey, the UK, and OECD DAC (Development Assistance Committee) members. The nation's infrastructure, economy, and societal fabric have been severely damaged, especially after the start of the civil war in 2011. The recent earthquakes have further worsened Syria's challenges, positioning it among the most severe humanitarian crises. Foreign aid to Syria predominantly supports displaced communities and regions affected by war.Click to continue reading 10 Countries That Receive The Most Foreign Aid Per Capita.Suggested Articles:30 Countries That Receive the Most Foreign Aid From the US30 Hungriest Countries In The World20 Countries with Highest Rates of Infant MortalityDisclosure: None. 25 Countries That Receive The Most Foreign Aid Per Capita is originally published at Insider Monkey.

Insider Monkey

25 Countries that Receive the Most Foreign Aid Per Capita

https://finance.yahoo.com/news/25-countries-receive-most-foreign-211859813.html

f8645e67-ecb5-3a7f-8a9f-bb20be22ba65

SKWD

Initial public offering (IPO) is the stock issuance process onto the public market. There are a few different methods by which a company will first become listed on a stock exchange. The most common way would be underwriters, which are typically financial organizations that supply a company with capital, and along with that comes risk with eventual plans to list the company on a stock exchange. For their help listing a new company, they, of course, require a fee. Another method is by direct listing, which bypasses underwriters and is where the company supplies the capital and risk regarding the listing. All of these companies are striving to be deemed up-and-coming IPOs. An advantage of investing in a company that has recently had its IPO date is the ability for investors to buy up shares in a company at a reasonably cheap rate before others figure out what the company is worth and cause the company to not be such a bargain anymore with way more investors interested. But, of course, there can always be a downside to investing in a new company. You are driving blind. Investors need to know how a new company may handle adversity going forward. And trying to determine if the stock is a boom or bust is a tricky process.InvestorPlace - Stock Market News, Stock Advice & Trading TipsNextracker (NXT)solar and wind power in coastal saline and alkaline land, develop shoals background representing solar stocks.Source: chuyuss / Shutterstock.comNextracker (NASDAQ:NXT), located in Fremont, California, is a solar tracker and software company that provides solutions for late-scale solar projects. Their various products include NZ Horizon and NX Gemini, both leading solar trackers used globally. They also offer solar infrastructure software such as TrueCapture and NX Navigator.Since the company started trading publicly in February, its share price has increased by 31%. Nextracker’s most recent earnings were released on July 26. It states revenue growth year-over-year of 19% and earnings per share of $0.43. For their fiscal outlook for 2024, Nextracker anticipates total revenue for the year to be somewhere between $2.2 billion and $2.4 billion.Story continuesNextracker announced alongside Asteelflash/USI, an electronic component producer, that they are opening a manufacturing line for Nextracker to produce their patented solar technology.Acelyrin (SLRN)Brown glass pill bottle on its side showing white pills inside, with other pill bottles behind it representing MACK stock.Source: shutterstock.com/ChampheiAcelyrin (NASDAQ:SLRN) is a biotech company in Agoura Hills, California. It focuses on developing and distributing medicines to treat various skin conditions, inflammation disorders and thyroid eye disease.On May 4 of this year, the company announced its IPO and the pricing of 30 million shares at $18 per share. Since its IPO, their share price has grown by 9%. Acelyrin recently announced that they appointed Ken Lock as Chief Commercial Officer will be among their senior leadership team. On August 14, the company announced its earnings report for the second quarter of 2023. The company reported a net loss that expanded by 79%, and their total operating expenses more than doubled compared to the results for the year prior. There were some new developments for Acelyrin during the second quarter, including positive news regarding the beginning phase trials of Izokibep, which treats Hidradenitis Suppurativa, an inflammatory skin condition, enrollment for their Phase 2b/3 trial regarding Izokibep for the treatment of Psoriatic Arthritis another skin condition.Recently, in June, the company saw a spike in their share price of approximately 35% due to a close competitor of Acelyrin, Moonlake Immunotherapeutics (NASDAQ:MLTX), which saw positive Phase 2 results in a drug to treat Hidradenitis Suppurativa. This is very similar to Acelyrin’s drug Izokibep. It overall grew overall market interest with this new treatment. Skyward Specialty Insurance Group (SKWD)Source: ShutterstockSkyward Specialty Insurance Group (NASDAQ:SKWD), headquartered in Houston, Texas, is an insurance holding company focusing on property and casualty insurance products. They offer specialized insurance options among underwriting divisions, including accident & health, transactional E&S, program surety, global property and agriculture and medical stop loss.Skyward Specialty Insurance Group announced its IPO date in January of this year. Since then, the company has seen share price growth of over 25%. Within their most recent earnings report, which was released on August 8, they stated total revenue increased by 45% and net income nearly quadrupled year-over-year. They also saw a significant increase in gross premiums written within the same time period of 29%. This and the other stocks we mentioned are all worthy up-and-coming IPOs that you should consider. As of this writing, Noah Bolton did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.Noah has about a year of freelance writing experience. He’s worked with Investopedia dealing with topics such as the stock market and financial news.More From InvestorPlaceChatGPT IPO Could Shock the World, Make This Move Before the AnnouncementMusk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In.The Rich Use This Income Secret (NOT Dividends) Far More Than Regular InvestorsThe post 3 Up-and-Coming IPOs to Put on Your Must-Buy List appeared first on InvestorPlace.

InvestorPlace

3 Up-and-Coming IPOs to Put on Your Must-Buy List

https://finance.yahoo.com/news/3-coming-ipos-put-must-001219713.html

2bc8cfec-e5f8-307c-b2bb-7d154db95429

SKWD

Skyward Specialty Insurance Group, Inc.HOUSTON, Sept. 01, 2023 (GLOBE NEWSWIRE) -- Skyward Specialty Insurance Group, Inc.™ (NASDAQ: SKWD) ("Skyward Specialty" or "the Company") a leader in the specialty property and casualty (P&C) market, today announced it has been named one of the Best Places to Work in Insurance for 2023, as determined by Business Insurance and Best Companies Group. Best Companies Group recognizes employers who demonstrate, as determined through various evaluations, including employee engagement survey results, the highest employee engagement and satisfaction, as well as a commitment to attracting, developing and retaining great talent through employee benefits and other programs their workers value."We are honored to receive this recognition. Early on, we set out to create the Company we always wanted to work for where exceptional performance is recognized and employees feel empowered to thrive as their authentic selves,” said Tom Schmitt, chief people officer at Skyward Specialty. "These last three years, we've aligned our objectives and strategies throughout the organization and, by doing so, developed an incredibly engaged culture where our employees understand their value and are excited to share their ideas and contribute to our successes."Skyward Specialty CEO Andrew Robinson said, "The level of engagement from our employees drives a culture unlike any other I have been part of and is the life force for who we are at our core. Attracting and retaining the industry's top talent is central to our strategy, and we continue to win in that arena. We know we've created a unique environment where the best people want to work, so to be recognized publicly for something we have known internally is an achievement we are proud of.”Best Companies Group conducts a two-part assessment of each company participating in the survey, which is sponsored annually by Business Insurance. The first part is a questionnaire completed by the employer about company policies, practices and demographics. The second part is a confidential employee survey on engagement and satisfaction.Story continuesAbout Skyward SpecialtySkyward Specialty (NASDAQ: SKWD) is a rapidly growing and innovative specialty insurance company, delivering commercial property and casualty products and solutions on a non-admitted and admitted basis. The Company operates through eight underwriting divisions -- Accident & Health, Captives, Global Property & Agriculture, Industry Solutions, Professional Lines, Programs, Surety and Transactional E&S.Skyward Specialty's subsidiary insurance companies consist of Houston Specialty Insurance Company, Imperium Insurance Company, Great Midwest Insurance Company, and Oklahoma Specialty Insurance Company. These insurance companies are rated “A- (Excellent)” with positive outlook by A.M. Best Company. For more information about Skyward Specialty, its people, and its products, please visit skywardinsurance.com.Media ContactHaley DoughtySkyward Specialty Insurance [email protected]

GlobeNewswire

Skyward Specialty Recognized as One of the “Best Places to Work in Insurance” for 2023

https://finance.yahoo.com/news/skyward-specialty-recognized-one-best-150000281.html

40bbe1da-14af-3ce5-81bb-07668cb69b6e

SKX

Casey's General Stores, Inc. CASY is likely to register a top-line decline when it reports first-quarter fiscal 2024 numbers on Sep 11 after the closing bell. The Zacks Consensus Estimate for revenues is pegged at $3,852 million, indicating a decline of 13.5% from the prior-year reported figure.The bottom line of this convenience store operator is expected to have declined year over year. The Zacks Consensus Estimate for first-quarter earnings per share has declined by 0.9% to $3.36 over the past 30 days, which suggests a decrease from the earnings of $4.09 reported in the year-ago period.This Ankeny, IA-based company has a trailing four-quarter earnings surprise of 7.5%, on average. In the last reported quarter, the company’s bottom line missed the Zacks Consensus Estimate by a margin of 5.7%.Casey's General Stores, Inc. Price and EPS SurpriseCasey's General Stores, Inc. Price and EPS SurpriseCasey's General Stores, Inc. price-eps-surprise | Casey's General Stores, Inc. QuoteKey Factors to NoteCasey's price and product optimization strategies, the increased penetration of private brands and digital engagements comprising mobile apps and online ordering capabilities are commendable. The curbside pickup option and Casey’s reward program have been benefiting its overall performance.The company has partnered with DoorDash and Uber Eats for delivery services. Casey's self-distribution model and acquisition activities bode well. These factors are likely to have boosted the company’s top line in the yet-to-be-reported quarter.Casey’s Grocery & General Merchandise category might have contributed to the company’s top line. Our model estimate for sales for the category is pegged at $993.9 million, which suggests an increase of 7.7% from the prior-year reported figure. The consensus mark indicates a jump of 4.1% in same-store sales.The company’s Prepared Food & Dispensed Beverage category may have positively impacted total revenues. Our model estimate for sales for the category is pinned at $369.8 million, which indicates a jump of 7.6% from the prior-year reported figure. The consensus mark suggests growth of 4.1% in same-store sales.With respect to the total gallons sold during the quarter under discussion, the Zacks Consensus Estimate suggests an increase of 3.5%. However, our model estimate for sales in the Fuel category indicates a decline of 24.1% to $2,350 million. This might have an adverse impact on the company’s top-line performance.Rising operating expenses have been a concern for the company over the past few quarters. Casey's witnessed an increase of 6.3% in operating expenses of $521.7 million in the last reported quarter. The metric increased due to operating a greater number of stores compared with the same period last year and a rise in expenses related to same-store operations.For the quarter under review, we expect operating expenses of about $555 million, suggesting a rise of 2.2% year-over-year. As a percentage of revenues, the metric is estimated to be 14.7%, suggesting an increase of 250 basis points year-over-year.Story continuesWhat Does the Zacks Model Unveil?Our proven model predicts an earnings beat for Casey's this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is the case here.Casey's has a Zacks Rank #3 and an Earnings ESP of +1.29%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.3 More Stocks With the Favorable CombinationHere are three other companies you may want to consider, as our model shows that these too have the right combination of elements to post an earnings beat:American Eagle Outfitters AEO currently has an Earnings ESP of +9.15% and sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for the third-quarter fiscal 2023 quarterly earnings per share is pegged at 42 cents, in line with the figure reported in the year-ago quarter. American Eagle Outfitters has a trailing four-quarter earnings surprise of 43.2%, on average.Skechers SKX currently has an Earnings ESP of +0.41% and sports a Zacks Rank #1. The company is likely to register a bottom-line increase when it reports third-quarter 2023 numbers. The Zacks Consensus Estimate for the quarterly earnings per share of 77 cents suggests a rise of 40% from the year-ago quarter.Skechers’ top line is expected to increase year over year. The consensus estimate for quarterly revenues is pegged at $2.01 billion, which indicates a rise of 6.8% from the figure reported in the prior-year quarter. SKX has a trailing four-quarter earnings surprise of 39.1%, on average.Darden Restaurants DRI has an Earnings ESP of +0.72% and a Zacks Rank #2 at present. Darden Restaurants is expected to register a bottom-line increase when it reports first-quarter fiscal 2024. The Zacks Consensus Estimate for DRI’s earnings is pegged at $1.72 per share, suggesting growth of 10.3% from the figure reported in the prior-year quarter.The Zacks Consensus Estimate for quarterly revenues is pegged at $2.7 billion, which indicates growth of 10.5% from the figure reported in the prior-year quarter. Darden Restaurants has a trailing four-quarter earnings surprise of 3.6%, on average.Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportAmerican Eagle Outfitters, Inc. (AEO) : Free Stock Analysis ReportDarden Restaurants, Inc. (DRI) : Free Stock Analysis ReportSkechers U.S.A., Inc. (SKX) : Free Stock Analysis ReportCasey's General Stores, Inc. (CASY) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Casey's (CASY) Gears Up to Post Q1 Earnings: What's in Store?

https://finance.yahoo.com/news/caseys-casy-gears-post-q1-131700187.html

bd5cec88-9f15-3fd0-857a-052463b94943

SKX

American Outdoor Brands, Inc. AOUT reported first-quarter fiscal 2024 results, wherein both the top and bottom lines surpassed the Zacks Consensus Estimate. Both metrics beat estimates for the second straight quarter. Following the results, the stock increased 2% in the after-hours trading session on Sep 7.  AOUT is benefiting from an innovation strategy.Earnings & SalesIn the quarter under review, American Outdoor reported adjusted earnings of 1 cent per share, outshining the Zacks Consensus Estimate of a loss of 3 cents. The company’s adjusted earnings remained flat year over year.Quarterly net sales of $43.4 million outpaced the consensus estimate of $42 million. However, the metric declined 0.5% year over year primarily due to a decrease in shooting sports category sales.American Outdoor Brands, Inc. Price, Consensus and EPS SurpriseAmerican Outdoor Brands, Inc. price-consensus-eps-surprise-chart | American Outdoor Brands, Inc. QuoteOther FinancialsTotal operating expenses were $23.8 million, down 3.2% year over year.Adjusted EBITDAS were $1.1 million compared with $1.4 million reported in the year-ago quarter.Balance SheetAs of Jul 31, 2023, cash and cash equivalents totaled $18.7 million compared with $22 million in the year-ago period.Total current liabilities amounted to $29.2 million at the end of first-quarter fiscal 2024 compared with $23 million at the prior-year quarter end.The company currently has a Zacks Rank #3 (Hold).Key PicksSome better-ranked stocks in the Zacks Consumer Discretionary sector are:Royal Caribbean Cruises Ltd. RCL sports a Zacks Rank #1 (Strong Buy). RCL has a trailing four-quarter earnings surprise of 28.5% on average. Shares of RCL have surged 115.2% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for RCL’s 2023 sales and EPS indicates rises of 54.5% and 180.3%, respectively, from the year-ago period’s levels.Trip.com Group Limited TCOM flaunts a Zacks Rank #1. It has a trailing four-quarter earnings surprise of 147.9% on average. Shares of TCOM have increased 42.8% in the past year.The Zacks Consensus Estimate for TCOM’s 2023 sales and EPS suggests jumps of 104.9% and 537.9%, respectively, from the year-ago period’s levels.Skechers U.S.A., Inc. SKX sports a Zacks Rank #1. It has a trailing four-quarter earnings surprise of 39.1% on average. Shares of SKX have increased 32.8% in the past year.The Zacks Consensus Estimate for SKX’s 2023 sales and EPS implies improvements of 8.7% and 42%, respectively, from the year-ago period’s levels.Story continuesWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportRoyal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis ReportSkechers U.S.A., Inc. (SKX) : Free Stock Analysis ReportTrip.com Group Limited Sponsored ADR (TCOM) : Free Stock Analysis ReportAmerican Outdoor Brands, Inc. (AOUT) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

American Outdoor (AOUT) Stock Up on Q1 Earnings & Sales Beat

https://finance.yahoo.com/news/american-outdoor-aout-stock-q1-143900785.html

c338c76a-cf42-3485-a78d-e8ad22ba4cec

SLB

HOUSTON (Reuters) - SLB is on track to add about $5 billion in revenue this year, and sees similar potential for growth in 2024, mainly helped by increased drilling in international markets, CEO Olivier Le Peuch said at a conference on Wednesday.SLB, the world's largest oilfield service company and former Schlumberger, is betting on a recent resurgence in offshore and international drilling in regions like the Middle East to boost revenue as North America drilling has lagged.SLB said it expects to add about $5 billion in revenue in 2023, compared with its previous estimate to increase revenue by 15%, which worked out to a $4.2 billion growth.It also expects to grow earnings before interest, tax, depreciation and amortization (EBITDA) by $1.5 billion this year. It had previously forecast adjusted EBITDA percentage growth in the mid-20s, which at its midpoint translated to $1.6 billion."Directionally, we see the potential to repeat this by adding similar revenue and EBITDA dollar growth in 2024," Le Peuch said at a Barclays energy conference.International core revenue is projected to exceed $23 billion in 2023, representing growth in the high teens, Le Peuch added.(Reporting by Arathy Somasekhar in Houston; Editing by Marguerita Choy)

Reuters

SLB to add $5 billion in revenue this year, sees similar growth in 2024

https://finance.yahoo.com/news/slb-add-5-billion-revenue-143613360.html

ad8dbf01-3527-3111-be4b-b01f5ed90767

SLB

For Immediate ReleaseChicago, IL – September 7, 2023 – Today, Zacks Equity Research discusses Schlumberger Ltd. SLB, Halliburton Co. HAL, Core Laboratories Inc. CLB and Solaris Oilfield Infrastructure, Inc. SOI.Industry: Oilfield ServicesLink: https://www.zacks.com/commentary/2145294/4-oilfield-services-stocks-to-gain-from-the-prospering-industryDrilling activities will possibly improve since the crude pricing environment remains extremely favorable. With the expectations that commodity price will remain handsome this year, demand for oilfield services will stay strong, making the outlook for the Zacks Oil and Gas- Field Services industry promising.Among the frontrunners in the industry that will possibly make the most of the improving business scenario are Schlumberger Ltd., Halliburton Co.,Core Laboratories Inc. and Solaris Oilfield Infrastructure, Inc.About the IndustryThe Zacks Oil and Gas - Field Services industry comprises companies that primarily engage in providing support services to exploration and production players. These companies help in manufacturing, repairing and maintaining wells, drilling equipment, leasing of drilling rigs, seismic testing, as well as transport and directional solutions, among others. Also, the companies help upstream energy players locate oil and natural gas and drill and evaluate hydrocarbon wells.Hence, oilfield services businesses are positively correlated to expenditures from upstream firms. Furthermore, with countries worldwide investing heavily in liquefied natural gas (LNG) terminals, a few oilfield service companies are extending their reach beyond the hydrocarbon fields and capitalizing on contracts for manufacturing equipment used in LNG facilities to decrease carbon emissions.3 Trends Defining Oilfield Services Industry's FutureFavorable Oil Price: The price of West Texas Intermediate crude is trading at more than the $85-per-barrel mark, reflecting a very handsome pricing environment. The attractive commodity price is favorable for exploration and production activities, which will boost demand for oilfield services since oilfield service players assist drillers in efficiently setting up oil wells.Story continuesDigital Solutions: Oilfield service players are creating value for clients through digital solutions. With the introduction of a digital platform strategy, companies belonging to the industry are not only accelerating returns but also reducing cycle time. From increasing productivity and efficiency, oilfield service players are also reducing costs and carbon emissions, thereby optimizing cashflows.Growth in International & North American Markets: Given the favorable upstream business scenarios, it is highly likely that capital spending will ramp up in both North American and international markets. Thus, demand for oilfield services will continue to grow this year and beyond, securing higher earnings.Zacks Industry Rank Indicates Bullish OutlookThe Zacks Oil and Gas – Field Services is a 22-stock group within the broader Zacks Oil - Energy sector. The industry currently carries a Zacks Industry Rank #73, which places it in the top 29% of more than 250 Zacks industries.The group's Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates bullish near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.Before we present a few stocks that you may consider, let's take a look at the industry's recent stock-market performance and valuation picture.Industry Outperforms S&P 500 & SectorThe Zacks Oil and Gas – Field Services industry has outperformed the Zacks S&P 500 composite and the broader Zacks Oil – Energy sector over the past year.The industry has increased 51.8% over this period compared with the S&P 500's gain of 15.6% and the broader sector's 6.7% rise.Industry's Current ValuationSince oil and gas companies are debt-laden, it makes sense to value them based on the EV/EBITDA (Enterprise Value/Earnings before Interest Tax Depreciation and Amortization) ratio. This is because the valuation metric takes not just equity into account but also the level of debt. For capital-intensive companies, EV/EBITDA is a better valuation metric because it is not influenced by changing capital structures and ignores the effect of non-cash expenses.On the basis of the trailing 12-month EV/EBITDA, the industry is currently trading at 8.98X compared with the S&P 500's 13.47X and sector's 3.49X.Over the past five years, the industry has traded as high as 12.27X, as low as 1.00X, with a median of 7.99X.4 Oilfield Services Stocks Moving Ahead of the PackSolaris Oilfield Infrastructure: More of patented equipment and systems of Solaris will likely be deployed to the prolific oil and gas basins in the United States. This is because favorable commodity prices will likely improve upstream activities, increasing demand for those equipment and systems. Currently, Solaris sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.Core Laboratories: Being a well-known provider of patented reservoir description and production enhancement services, the company is well-positioned to grow, thanks to improving demand for reservoir description services. Core Lab, carrying a Zacks Rank of 2 (Buy), is also focused on reducing its debt load.Schlumberger Limited: Schlumberger is a well-known name in transforming the oil and gas industry by employing its cutting-edge solutions. With its quantifiably proven solutions, it is lowering emissions and its impacts. Schlumberger, carrying a Zacks Rank #3 (Hold), is likely to see earnings growth of 36.7% this year.Halliburton Company: Halliburton is also a leading oilfield service player, capitalizing on improving demand for oilfield services. HAL is likely to witness growth in the international market, while values in the North American market are getting maximized. The firm, with a Zacks Rank of 3, is likely to see earnings growth of more than 41% this year.Why Haven't You Looked at Zacks' Top Stocks? Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.See Stocks Free >>Join us on Facebook: https://www.facebook.com/ZacksInvestmentResearch/Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.Media ContactZacks Investment Research800-767-3771 ext. [email protected]://www.zacks.comPast performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance  for information about the performance numbers displayed in this press release.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportSchlumberger Limited (SLB) : Free Stock Analysis ReportHalliburton Company (HAL) : Free Stock Analysis ReportCore Laboratories Inc. (CLB) : Free Stock Analysis ReportSolaris Oilfield Infrastructure, Inc. (SOI) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Zacks Industry Outlook Highlights Schlumberger, Halliburton, Core Laboratories and Solaris Oilfield Infrastructure

https://finance.yahoo.com/news/zacks-industry-outlook-highlights-schlumberger-124300483.html

c29abd5c-b878-3be3-9dc1-988075bd47bd

SLDB

Solid Biosciences Inc.CHARLESTOWN, Mass., Aug. 31, 2023 (GLOBE NEWSWIRE) -- Solid Biosciences Inc. (Nasdaq: SLDB), a life sciences company developing genetic medicines for neuromuscular and cardiac diseases, today announced that Bo Cumbo, President and Chief Executive Officer, will present at the Citi 18th Annual BioPharma Conference on Thursday, September 7, 2023, at 9:40 AM ET.A live webcast of the presentation will be available on the Events page of the Investors section of the Company website or by clicking here. A webcast replay will be archived for 30 days on the Events page.Institutional investors interested in meeting with management during the conference may reach out to their Citi representative.About Solid BiosciencesSolid Biosciences is a life science company focused on advancing a portfolio of neuromuscular and cardiac programs, including SGT-003, a differentiated gene transfer candidate for the treatment of Duchenne muscular dystrophy (Duchenne), AVB-401 a gene therapy program for the treatment of BAG3 mediated dilated cardiomyopathy, AVB-202-TT, a gene therapy program for the treatment of Friedreich’s Ataxia, and additional assets for the treatment of undisclosed fatal cardiac diseases. Solid aims to be the center of excellence across a given disease spectrum bringing together those with expertise in science, technology, disease management, and care. Patient-focused and founded by those directly impacted, Solid’s mandate is to improve the daily lives of patients living with these devastating diseases. For more information, please visit www.solidbio.com.Solid Biosciences Investor Contact:Leah MonteiroVP, Investor Relations & [email protected]

GlobeNewswire

Solid Biosciences to Participate in Citi’s 18th Annual BioPharma Conference

https://finance.yahoo.com/news/solid-biosciences-participate-citi-18th-120000928.html

38809a06-8e87-3ba9-8e24-956369919702

SLDB

Solid Biosciences Inc.CHARLESTOWN, Mass., Sept. 05, 2023 (GLOBE NEWSWIRE) -- Solid Biosciences Inc. (Nasdaq: SLDB), a life sciences company developing genetic medicines for neuromuscular and cardiac diseases, today announced that Bo Cumbo, President and Chief Executive Officer, will participate in the following two upcoming investor conferences:Baird Global Healthcare Conference – New York, NYTuesday, September 12, 2023, at 10:15 AM ET.H.C. Wainwright & Co. Healthcare Conference – New York, NYWednesday, September 13, 2023, at 3:30 PM ET.A live webcast of the H.C Wainwright & Co. presentation will be available on the Events page of the Investors section of the Company website or by clicking here. A webcast replay will be archived for 30 days on the Events page. The Baird presentation is only available to clients of Baird.Institutional investors interested in meeting with management during the conference may reach out to their Baird or H.C. Wainwright & Co. representatives.About Solid BiosciencesSolid Biosciences is a life science company focused on advancing a portfolio of neuromuscular and cardiac programs, including SGT-003, a differentiated gene transfer candidate for the treatment of Duchenne muscular dystrophy (Duchenne), AVB-401 a gene therapy program for the treatment of BAG3 mediated dilated cardiomyopathy, AVB-202-TT, a gene therapy program for the treatment of Friedreich’s Ataxia, and additional assets for the treatment of fatal cardiac diseases. Solid aims to be the center of excellence across a given disease spectrum bringing together those with expertise in science, technology, disease management, and care. Patient-focused and founded by those directly impacted, Solid’s mandate is to improve the daily lives of patients living with these devastating diseases. For more information, please visit www.solidbio.com.Solid Biosciences Investor Contact:Leah MonteiroVP, Investor Relations & [email protected]

GlobeNewswire

Solid Biosciences to Participate at Upcoming Investor Conferences

https://finance.yahoo.com/news/solid-biosciences-participate-upcoming-investor-125600658.html

97456c4e-5953-36bf-a63c-06d79e3b6ff8

SLNG

HOUSTON, TX / ACCESSWIRE / July 27, 2023 / Stabilis Solutions, Inc., ("Stabilis" or the "Company") (NASDAQ:SLNG), a leading provider of clean energy production, storage, and delivery solutions, today announced that it will issue second quarter 2023 results after the U.S. markets close on Wednesday, August 9, 2023. A conference call will be held on Thursday, August 10, 2023 at 9:00 a.m. ET to review the Company's financial results, discuss recent events and conduct a question-and-answer session.A webcast of the conference call will be available in the Investor Relations section of the Company's corporate website at https://investors.stabilis-solutions.com/events. To listen to a live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register, download, and install any necessary audio software.To participate in the live teleconference:Domestic Live: 800-267-6316International Live: 203-518-9783Conference ID: SLNGQ223To listen to a replay of the teleconference, which will be available through August 17, 2023:Domestic Live: 888-225-1626International Live: 402-220-4974ABOUT STABILIS SOLUTIONSStabilis Solutions, Inc. is a leading provider of clean energy production, storage, and delivery solutions to multiple end markets. To learn more, visit www.stabilis-solutions.com.# # # # #INVESTOR RELATIONS CONTACTAndrew PuhalaChief Financial [email protected]: Stabilis SolutionsView source version on accesswire.com: https://www.accesswire.com/770570/Stabilis-Solutions-Announces-Second-Quarter-2023-Conference-Call-and-Webcast-Date

ACCESSWIRE

Stabilis Solutions Announces Second Quarter 2023 Conference Call and Webcast Date

https://finance.yahoo.com/news/stabilis-solutions-announces-second-quarter-120000497.html

886f2cf5-bae1-31cc-aa96-7ad9ee18872e

SLNG

HOUSTON, TX / ACCESSWIRE / August 9, 2023 / Stabilis Solutions, Inc., ("Stabilis" or the "Company") (Nasdaq:SLNG), a leading provider of clean energy production, storage, and delivery solutions, today announced results for the second quarter ended June 30, 2023.For the three months ended June 30, 2023, Stabilis reported a net loss of ($2.2) million, on revenue of $12.9 million, versus a net loss of ($2.2) million, on revenue of $23.2 million in the second quarter 2022, and net income of $1.1 million, on revenue of $26.8 million in the first quarter 2023. Adjusted earnings before interest, taxes, depreciation and amortization ("Adjusted EBITDA") was ($0.1) million in the second quarter 2023, compared to $1.4 million in the second quarter 2022 and $3.5 million in the first quarter 2023.The year-over-year results were driven by a decline in non-margin producing (pass through) commodity prices, a change in feed gas composition at its south Texas LNG production facility, and additional operating costs to support future marine growth.Sequentially, Stabilis' results were driven by the scheduled completion of a large short-term bunkering contract, the decline in non-margin producing (pass-through) commodity prices, typical seasonal demand trends, and change in feed gas composition at its south Texas LNG production facility.Total capital expenditures increased approximately 400% on a year-to-date basis in 2023 to $5.2 million, versus the same period last year, to support an anticipated acceleration in marine customer demand growth. The Company expects the pace of its capital expenditures to continue as marine bunkering and new commercial opportunities are finalized.As of June 30, 2023, Stabilis had total cash and equivalents of $8.1 million, an undrawn $10 million revolving credit facility, subject to a borrowing base, and remaining capacity under its advancing loan with Ameristate bank. Total debt outstanding as of June 30, 2023 was $9.9 million, resulting in a ratio of net debt to trailing twelve-month Adjusted EBITDA of 0.2x.Story continuesFor a full reconciliation of GAAP to non-GAAP metrics, please refer to the Appendix of this release.MANAGEMENT COMMENTARY"Our second quarter results were consistent with our expectations and were primarily attributable to lower pass-through natural gas feed stock commodity prices, the expected completion of a short-term marine bunkering contract, and usual seasonal activity, much of which has been re-awarded to Stabilis for the upcoming winter season. During the second quarter, we also experienced lower utilization at our Texas liquefaction plant due to changes in the composition in our supplier's feed gas, which we are confident will be remedied during the third quarter," stated Westy Ballard, President and CEO."Strategically, our objective of optimizing our core industrial business, while accelerating growth within a massive and multi-year marine vessel bunkering and export demand cycle, remains the same" continued Ballard. "We believe that there is insufficient infrastructure in the U.S. market to support the future demand for LNG vessel bunkering and it is our goal to be a significant participant in filling this void. To date, we've established marine operations on three coasts and are preparing for expansion in additional key strategic ports. Over the last year, we've made strong progress within the marine market, with our total marine revenue increasing by more than $16 million to 21% of total revenue, versus 5% in the prior-year period. Growth into a developing and nascent industry can be lumpy period-over-period and not always linear, but we are confident the overall trajectory will continue to move higher, especially as a significant volume of new, LNG-fueled vessels enter the market beginning in 2024."Ballard concluded: "As the only publicly traded, small-scale LNG growth platform in North America, we are uniquely positioned to be the leader in marine bunkering by leveraging our proven business model to expand and optimize our portfolio of owned and third-party assets to drive long-term growth and shareholder returns."SECOND QUARTER 2023 CONFERENCE CALL AND WEBCASTStabilis will host a conference call on Thursday, August 10, 2023 at 9:00 a.m. ET to review the Company's financial results, discuss recent events and conduct a question-and-answer session.A webcast of the conference call will be available in the Investor Relations section of the Company's corporate website at https://investors.stabilis-solutions.com/events. To listen to a live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register, download, and install any necessary audio software.To participate in the live teleconference:Domestic Live: 800-267-6316International Live: 203-518-9783Conference ID: SLNGQ223To listen to a replay of the teleconference, which will be available through August 17, 2023:Domestic Live: 888-225-1626International Live: 402-220-4974ABOUT STABILIS SOLUTIONSStabilis Solutions, Inc. is a leading provider of clean energy production, storage, and delivery solutions to multiple end markets. To learn more, visit www.stabilis-solutions.com.CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTSThis press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 and within the meaning of Section 27a of the Securities Act of 1933, as amended, and Section 21e of the Securities Exchange Act of 1934, as amended. Any actual results may differ from expectations, estimates and projections presented or implied and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "can," "believes," "feels," "anticipates," "expects," "could," "will," "plan," "may," "should," "predicts," "potential," "outlook" and similar expressions are intended to identify such forward-looking statements.Such forward-looking statements relate to future events or future performance, but reflect our current beliefs, based on information currently available. Most of these factors are outside our control and are difficult to predict. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. Factors that may cause such differences include, among other things: the future performance of Stabilis, future demand for and price of LNG, availability and price of natural gas, unexpected costs, and general economic conditions.The foregoing list of factors is not exclusive. Additional information concerning these and other risk factors is contained in the Risk Factors in Item 1A of our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 9, 2023 which is available on the SEC's website at www.sec.gov or on the Investors section of our website at www.stabilis-solutions.com. All subsequent written and oral forward-looking statements concerning Stabilis, or other matters attributable to Stabilis, or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made.Stabilis does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.Stabilis Solutions, Inc. and SubsidiariesSelected Consolidated Operating Results(Unaudited, in thousands, except share and per share data)Three Months EndedSix Months EndedJune 30,March 31,June 30,June 30,June 30,20232023202220232022Revenues:Revenues$12,907$26,842$23,150$39,749$43,417Operating expenses:Cost of revenues10,58520,27019,53730,85535,041Change in unrealized loss on natural gas derivatives(224)169899(55)899Selling, general and administrative expenses3,0433,3793,0546,4225,985Gain from disposal of fixed assets----(80)Depreciation expense1,9922,0112,1974,0034,474Total operating expenses15,39625,82925,68741,22546,319Income (loss) from operations before equity income(2,489)1,013(2,537)(1,476)(2,902)Net equity income from foreign joint venture operations6853456861,030773Income (loss) from operations(1,804)1,358(1,851)(446)(2,129)Other income (expense):Interest expense, net(147)(150)(150)(297)(287)Interest expense, net - related parties(24)(32)(49)(56)(80)Other income (expense), net(40)(84)(26)(124)(71)Total other income (expense)(211)(266)(225)(477)(438)Net income (loss) from continuing operations before income tax expense (benefit)(2,015)1,092(2,076)(923)(2,567)Income tax expense (benefit)1598(1)167(133)Net income (loss) from continuing operations(2,174)1,084(2,075)(1,090)(2,434)Loss from discontinued operations, net of income tax--(93)-(140)Net income (loss)$(2,174)$1,084$(2,168)$(1,090)$(2,574)Net income (loss) per common share:Basic net income (loss) per common share from continuing operations$(0.12)$0.06$(0.11)$(0.06)$(0.13)Basic loss per common share from discontinued operations$-$-$(0.01)$-$(0.01)Basic net income (loss) per common share$(0.12)$0.06$(0.12)$(0.06)$(0.14)Diluted net income (loss) per common share from continuing operations$(0.12)$0.06$(0.11)$(0.06)$(0.13)Diluted loss per common share from discontinued operations$-$-$(0.01)$-$(0.01)Diluted net income (loss) per common share$(0.12)$0.06$(0.12)$(0.06)$(0.14)EBITDA$148$3,285$320$3,433$2,274Adjusted EBITDA$(76)$3,454$1,447$3,378$3,401Stabilis Solutions, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (Unaudited, in thousands, except share and per share data)June 30,December 31,20232022AssetsCurrent assets:Cash and cash equivalents$8,121$11,451Accounts receivable, net4,76316,326Inventories, net47205Prepaid expenses and other current assets1,0512,186Assets held for sale-2,049Total current assets13,98232,217Property, plant and equipment:Cost111,219103,368Less accumulated depreciation(59,726)(55,699)Property, plant and equipment, net51,49347,669Goodwill4,3144,314Investments in foreign joint ventures11,33911,606Right-of-use assets and other noncurrent assets550774Total assets$81,678$96,580Liabilities and Stockholders' EquityCurrent liabilities:Accounts payable$1,805$4,474Accrued liabilities10,17119,642Current portion of long-term notes payable338848Current portion of long-term notes payable - related parties1,2352,435Current portion of finance and operating lease obligations170133Total current liabilities13,71927,532Long-term notes payable, net of current portion and debt issuance costs8,3498,650Long-term portion of finance and operating lease obligations82183Other noncurrent liabilities-348Total liabilities22,15036,713Commitments and contingenciesStockholders' Equity:Common stock; $0.001 par value, 37,500,000 shares authorized, 18,478,829 and 18,420,067 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively1919Additional paid-in capital101,319100,137Accumulated other comprehensive income(349)82Accumulated deficit(41,461)(40,371)Total stockholders' equity59,52859,867Total liabilities and stockholders' equity$81,678$96,580Stabilis Solutions, Inc. and SubsidiariesCondensed Consolidated Statements of Cash Flows(Unaudited, in thousands)Three Months EndedSix Months EndedJune 30,March 31,June 30,June 30,June 30,20232023202220232022Cash flows from operating activities:Net income (loss) from continuing operations$(2,174)$1,084$(2,075)$(1,090)$(2,434)Adjustments to reconcile net income (loss) from continuing operations to net cash provided by operating activities:Depreciation1,9922,0112,1974,0034,474Stock-based compensation expense5935896081,1821,139Income from equity investment in joint venture(741)(393)(760)(1,134)(921)Realized and unrealized losses on natural gas derivatives70421899491899Distributions from equity investment in joint venture813-1,5508131,550Changes in operating assets and liabilities:Accounts receivable4,9642,044(2,136)7,008(464)Prepaid expenses and other current assets320507(1,231)827(889)Accounts payable and accrued liabilities(2,024)(6,361)2,954(8,385)1,270Other(4)191(440)187(596)Net cash provided by operating activities from continuing operations3,809931,5663,9024,028Net cash provided by (used in) operating activities from discontinued operations--(134)-559Net cash provided by operating activities3,809931,4323,9024,587Cash flows from investing activities:Acquisition of fixed assets(1,484)(3,727)(333)(5,211)(1,023)Proceeds from sale of fixed assets----100Net cash used in investing activities from continuing operations(1,484)(3,727)(333)(5,211)(923)Net cash used in investing activities from discontinued operations--(30)-(258)Net cash used in investing activities(1,484)(3,727)(363)(5,211)(1,181)Cash flows from financing activities:Proceeds from borrowings on short- and long-term notes payable--1,000-1,000Payments on short- and long-term notes payable(366)(365)(459)(731)(873)Payments on notes payable and finance leases from related parties(604)(596)-(1,200)(669)Payment of debt issuance costs(108)--(108)-Net cash provided by (used in) financing activities from continuing operations(1,078)(961)541(2,039)(542)Net cash used in financing activities from discontinued operations--(9)-(58)Net cash provided by (used in) financing activities(1,078)(961)532(2,039)(600)Effect of exchange rate changes on cash135571854Net increase (decrease) in cash and cash equivalents1,260(4,590)1,658(3,330)2,860Cash and cash equivalents, beginning of period6,86111,4512,11211,451910Cash and cash equivalents, end of period$8,121$6,861$3,770$8,121$3,770Non-GAAP MeasuresOur management uses EBITDA and Adjusted EBITDA to assess the performance and operating results of our business. EBITDA is defined as Earnings before Interest (includes interest income and interest expense), Taxes, Depreciation and Amortization. Adjusted EBITDA is defined as EBITDA further adjusted for certain special items that occur during the reporting period, as noted below. We include EBITDA and Adjusted EBITDA to provide investors with a supplemental measure of our operating performance. Neither EBITDA nor Adjusted EBITDA is a recognized term under generally accepted accounting principles in the U.S. ("GAAP"). Accordingly, they should not be used as an indicator of, or an alternative to, net income as a measure of operating performance. In addition, EBITDA and Adjusted EBITDA are not intended to be measures of free cash flow available for management's discretionary use, as they do not consider certain cash requirements, such as debt service requirements. Because the definition of EBITDA and Adjusted EBITDA may vary among companies and industries, it may not be comparable to other similarly titled measures used by other companies. The following table provides a reconciliation of net income (loss), the most directly comparable GAAP measure, to EBITDA and Adjusted EBITDA (in thousands).Three Months EndedSix Months EndedJune 30,March 31,June 30,June 30,June 30,20232023202220232022Net income (loss)$(2,174)$1,084$(2,168)$(1,090)$(2,574)Loss from discontinued operations--93-140Net income (loss) from continuing operations(2,174)1,084(2,075)(1,090)(2,434)Depreciation1,9922,0112,1974,0034,474Interest expense, net171182199353367Income tax expense (benefit)1598(1)167(133)EBITDA1483,2853203,4332,274Special items*(224)1691,127(55)1,127Adjusted EBITDA$(76)$3,454$1,447$3,378$3,401*Special items for the three and six month 2023 periods consist of the subtraction / add-back of an unrealized (gain) / loss related to natural gas derivatives. Special items for the three and six months ended June 30, 2022,consist of the add-back of an unrealized loss on natural gas derivatives of $0.9 million and one-time costs related to an expired contract of $0.2 million.# # # # #Investor Contact:Andrew PuhalaChief Financial [email protected]: Stabilis SolutionsView source version on accesswire.com: https://www.accesswire.com/773476/Stabilis-Solutions-Reports-Second-Quarter-2023-Results

ACCESSWIRE

Stabilis Solutions Reports Second Quarter 2023 Results

https://finance.yahoo.com/news/stabilis-solutions-reports-second-quarter-212000950.html

38fa4d23-74b4-3abc-af79-4952883468a5

SLNH

Company Continues its Focus on Earnings Power and Achieving Cash Flow Positive Financial GoalsALBANY, N.Y., July 25, 2023--(BUSINESS WIRE)--Soluna Holdings, Inc. ("SHI" or the "Company"), (NASDAQ: SLNH), the parent company of Soluna Computing, Inc. ("SCI"), a developer of green data centers for Bitcoin mining and other intensive computing applications, announced today it has made significant progress on its commercialization plan for Project Dorothy and Project Sophie, deploying more than 30 MW of equipment at Project Dorothy and bringing Project Sophie fully operational. Based on this progress, the Company is on track to achieve a significant company milestone of 2 EH/s under management. These operational milestones and improvements have resulted in a stronger cash position for the Company year over year.John Belizaire, CEO of Soluna Holdings, commented, "We continue to execute on the plan laid out in my letter to shareholders. In June we gave an operational update that focused on achieving cash flow positive from operations during the second half of 2023. As one can see by these updates, we continue to get more miners online, and are now on track to exceed 2 EH/s under management."Project Sophie (Hosting):On April 6, 2023 Soluna announced a 25 MW hosting contract with a sustainability focused hosting customer.Since then, Soluna has deployed miners to the entire site and has been running at full capacity.In June, the site achieved one of the highest utilization in its operating history.The site holds great revenue potential, estimated at $3.21 million on an annualized basis. (As of Earnings Power Illustration June 21, 2023.)1Project Dorothy 1A (Hosting):On May 10, 2023 Soluna announced it had signed a contract to fill its 25 MW capacity at Project Dorothy 1A with two strategic hosting partners, including Compass Mining.Soluna completed deployment of Project Dorothy 1A’s hosting customers with 100% of the site deployed.Story continuesThe revenue potential for this site, operating at 25 MW, is projected to reach $16.47 million on an annualized basis. (As of Earnings Power Illustration June 21, 2023.)Project Dorothy 1B (Prop-Mining):In May, the Company announced its $14 million Prop-Mining Joint Venture with Navitas Global.The Company completed its tender of equipment purchase, with more than 8,250 machines purchased for a total of 860 PH/s of hashrate with an average efficiency of 29.9 J/TH, and at a cost of $11.25 $/TH inclusive of all fees, import, and taxes.Machines continue to ramp with 3,600 deployed to-date. The remaining are expected to be complete by the end of August.The revenue potential for this site, operating at 25 MW, is projected to reach $17.78 million. (As of Earnings Power Illustration June 21, 2023.)Additional Company Updates:Project Kati continues the development process, completing the first of the three required ERCOT interconnection studies in the planning phase. It has also advanced legal agreements with its power partner.The Company is on track to end the quarter with a strong cash balance as will be presented in its 10-Q in August.Note(s):1 Under GAAP accounting rules, the new Project Sophie hosting contract revenue does not include power cost as it is a passthrough cost. Project Sophie’s earning power appears in the Earnings Power Illustration dated June 21, 2023.Safe Harbor StatementThis announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Soluna Holdings, Inc. may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Soluna’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, further information regarding which is included in the Company's filings with the Securities and Exchange Commission. All information provided in this press release is as of the date of the press release, and Soluna Holdings, Inc. undertakes no duty to update such information, except as required under applicable law.About Soluna Holdings, Inc (SLNH)Soluna Holdings, Inc. is the leading developer of green data centers that convert excess renewable energy into global computing resources. Soluna builds modular, scalable data centers for computing intensive, batchable applications such as Bitcoin mining, AI, and machine learning. Soluna provides a cost-effective alternative to battery storage or transmission lines. Soluna uses technology and intentional design to solve complex, real-world challenges. Up to 30% of the power of renewable energy projects can go to waste. Soluna’s data centers enable clean electricity asset owners to ‘Sell. Every. Megawatt.’View source version on businesswire.com: https://www.businesswire.com/news/home/20230725248272/en/ContactsSam SovaFounder and [email protected]

Business Wire

Soluna Hits New Heights: Approaches 2 EH/s Milestone in Bitcoin Mining Operations

https://finance.yahoo.com/news/soluna-hits-heights-approaches-2-120000187.html

e3e2f9ac-5a23-3baf-8330-dca61699feb9

SLNH

Company Boosts Balance Sheet, Optimizes OperationsALBANY, N.Y., August 14, 2023--(BUSINESS WIRE)--Soluna Holdings, Inc. ("SHI" or the "Company"), (NASDAQ: SLNH), the parent company of Soluna Computing, Inc. ("SCI"), a developer of green data centers for Bitcoin mining and other intensive computing applications, reported financial results for the second quarter ended June 30, 2023.John Belizaire, CEO of Soluna Holdings, said, "Our progress executing the 3-step plan I shared in my letter to shareholders in the first half of the year has resulted in a stronger balance sheet and improved cash flows. This sets us up for continued growth in the second half of 2023 as we complete our transition focused on monetizing our sites through hosting and joint ventures. I am proud of our operating teams and thankful for our investors' continued support."Finance and Operational Highlights:The cash balance as of June 30, 2023, was $7.5 million compared to $1.1 million as of December 31, 2022. This is driven by new project-level investments, operational execution, and expense management measures implemented in the first half of the year.The Company is still on track to deploy a record 2 EH/s across all sites by the end of the summer. Project Dorothy 1A and Project Sophie are now fully deployed with three hosting customers.As of August 14, 2023, Project Dorothy 1B is completing construction and the Company has energized more than 11 MW of the buildings dedicated to the Proprietary Mining Joint Venture with Navitas Global.The Company completed its tender of equipment purchase, with 8,378 machines purchased for a total of 868 PH/s of hashrate with an average efficiency of 29.9 J/TH, and at a cost of $11.25 $/TH inclusive of all fees, import, and taxes, $10.59 $/TH excluding taxes. Machine deployment at Project Dorothy 1B continues with more than 5,760 deployed to date.More than 19,500 machines have been deployed across all three data centers as of August 14, 2023.Story continuesThe Company averaged $30/MWh for energy costs even during the recent heat waves in Texas and Kentucky. The average efficiency across all the machines at the sites is less than 30 J/TH.As described in the Company’s Earnings Power Illustration on June 21, 2023, the combined revenue potential for Project Dorothy 1A, Project Dorothy 1B, and Project Sophie is $37.5 million on an annualized basis.Prospective investors visited Project Dorothy with an interest to finance up to 50 MW of Project Dorothy 2. Project Kati, Soluna’s new 166 MW data center, continues its development process, completing the first of three required ERCOT interconnection studies in the planning phase. The company has also advanced legal agreements with its power partner at Project Kati.Financial Summary:Key financial results for the second quarter include:The Company’s balance sheet and liquidity continued to strengthen. Its current ratio, which measures liquidity, improved to 1.4 from 0.2 at the end of 2022 resulting from the combination of new project-level investments and declining operating losses. Working capital improved to $6.1 million as of June 30, 2023, a $30.7 million increase, versus a negative $24.6 million for the period ended June 30, 2022.Total revenue in the second quarter of 2023 decreased by 76% to $2.1 million compared to $8.7 million in the second quarter of 2022. The decrease is primarily attributable to the decommissioning of Project Marie negatively impacting both proprietary mining and hosting revenues and the transition of Project Sophie from proprietary mining to primarily hosting during the second quarter of 2023.General and Administrative, exclusive of depreciation and amortization expenses decreased by 15% to $4.1 million in the second quarter of 2023, as compared to $4.9 million in the second quarter of 2022, primarily due to cost reductions related to salaries and benefits, reduced consulting and professional fees, offset in part by an increase in investor relations costs.Stock compensation expense during the second quarter of 2023 was $2.2 million versus $1.1 million in the second quarter of 2022.Net loss from continuing operations improved to $9.3 million in the second quarter of 2023 from $14.1 million in the second quarter of 2022.The unaudited financial statements are available online.Safe Harbor StatementThis announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Soluna Holdings, Inc. may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Soluna’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, further information regarding which is included in the Company's filings with the Securities and Exchange Commission. All information provided in this press release is as of the date of the press release, and Soluna Holdings, Inc. undertakes no duty to update such information, except as required under applicable law.About Soluna Holdings, Inc (SLNH)Soluna Holdings, Inc. is the leading developer of green data centers that convert excess renewable energy into global computing resources. Soluna builds modular, scalable data centers for computing intensive, batchable applications such as Bitcoin mining, AI, and machine learning. Soluna provides a cost-effective alternative to battery storage or transmission lines. Soluna uses technology and intentional design to solve complex, real-world challenges. Up to 30% of the power of renewable energy projects can go to waste. Soluna’s data centers enable clean electricity asset owners to ‘Sell. Every. Megawatt.’Soluna Holdings, Inc. and SubsidiariesCondensed Consolidated Balance SheetsAs of June 30, 2023 (Unaudited) and December 31, 2022(Dollars in thousands, except per share)June 30,December 31,20232022AssetsCurrent Assets:Cash$7,464$1,136Restricted cash1,780685Accounts receivable1,537320Prepaid expenses and other current assets1,4171,326Deposits and credits on equipment9,0911,175Equipment held for sale1,379295Total Current Assets22,6684,937Restricted cash1,000-Other assets2,9581,150Property, plant and equipment, net37,76042,209Intangible assets, net31,73536,432Operating lease right-of-use assets526233Total Assets$96,647$84,961Liabilities and Stockholders’ EquityCurrent Liabilities:Accounts payable$3,150$3,548Accrued liabilities4,0992,721Line of credit-350Convertible notes payable-11,737Current portion of debt8,08710,546Deferred revenue985453Operating lease liability207161Total Current Liabilities16,52829,516Other liabilities1,497203Long-term debt1,174-Convertible notes payable10,710-Operating lease liability32584Deferred tax liability, net7,7928,886Total Liabilities38,02638,689Commitments and Contingencies (Note 10)Stockholders’ Equity:9.0% Series A Cumulative Perpetual Preferred Stock, par value $0.001 per share, $25.00 liquidation preference; authorized 6,040,000; 3,061,245 shares issued and outstanding as of June 30, 2023 and December 31, 202233Series B Preferred Stock, par value $0.0001 per share, authorized 187,500; 62,500 shares issued and outstanding as of June 30, 2023 and December 31, 2022——Common stock, par value $0.001 per share, authorized 75,000,000; 30,764,463 shares issued and 29,745,947 shared outstanding as of June 30, 2023 and 19,712,722 shares issued and 18,694,206 shares outstanding as of December 31, 20223120Additional paid-in capital284,136277,410Accumulated deficit(237,606)(221,769)Common stock in treasury, at cost, 1,018,516 shares at June 30, 2023 and December 31, 2022(13,798)(13,798)Total Soluna Holdings, Inc. Stockholders’ Equity32,76641,866Non-Controlling Interest25,8554,406Total Stockholders’ Equity58,62146,272Total Liabilities and Stockholders’ Equity$96,647$84,961Soluna Holdings, Inc. and SubsidiariesCondensed Consolidated Statements of Operations (Unaudited)For the Three and Six Months Ended June 30, 2023 and 2022(Dollars in thousands, except per share)Three Months EndedSix Months EndedJune 30,June 30,2023202220232022Cryptocurrency mining revenue$915$7,497$3,711$15,309Data hosting revenue1,1531,1791,4392,683Total revenue2,0688,6765,15017,992Operating costs:Cost of cryptocurrency mining revenue, exclusive of depreciation1,1603,5963,4106,992Cost of data hosting revenue, exclusive of depreciation7599751,0312,114Costs of revenue- depreciation5395,5381,1649,862Total costs of revenue2,45810,1095,60518,968Operating expenses:General and administrative expenses, exclusive of depreciation and amortization4,1364,8738,4969,755Depreciation and amortization associated with general and administrative expenses2,3792,3764,7564,749Total general and administrative expenses6,5157,24913,25214,504Impairment on fixed assets169750377750Operating loss(7,074)(9,432)(14,084)(16,230)Interest expense(439)(3,305)(1,814)(6,185)Loss on debt extinguishment and revaluation, net(2,054)-(1,581)-Gain (loss) on sale of fixed assets48(1,618)(30)(1,618)Other expense, net(285)-(273)-Loss before income taxes from continuing operations(9,804)(14,355)(17,782)(24,033)Income tax benefit from continuing operations5472511,093797Net loss from continuing operations(9,257)(14,104)(16,689)(23,236)Income before income taxes from discontinued operations-7,477-7,702Income tax benefit from discontinued operations-70-70Net income from discontinued operations-7,547-7,772Net loss(9,257)(6,557)(16,689)(15,464)(Less) Net loss attributable to non-controlling interest482-852-Net loss attributable to Soluna Holdings, Inc.$(8,775)$(6,557)$(15,837)$(15,464)Basic and Diluted (loss) earnings per common share:Net loss from continuing operations per share (Basic & Diluted)$(0.34)$(1.11)$(0.69)$(1.82)Net income from discontinued operations per share (Basic & Diluted)$-$0.54$-$0.56Basic & Diluted loss per share$(0.34)$(0.57)$(0.69)$(1.26)Weighted average shares outstanding (Basic and Diluted)28,150,55714,048,25324,903,97513,958,437Soluna Holdings, Inc. and SubsidiariesCondensed Consolidated Statements of Cash Flows (Unaudited)For the Six Months Ended June 30, 2023 and 2022(Dollars in thousands)Six Months Ended June 30,20232022Operating ActivitiesNet loss$(16,689)$(15,464)Net income from discontinued operations-(7,772)Net loss from continuing operations(16,689)(23,236)Adjustments to reconcile net loss to net cash (used in) provided by operating activities:Depreciation expense1,1799,871Amortization expense4,7414,740Stock-based compensation3,0601,952Consultant stock compensation5167Deferred income taxes(1,094)(797)Impairment on fixed assets377750Amortization of operating lease asset116100Loss on debt extinguishment and revaluation, net1,581-Amortization on deferred financing costs and discount on notes7395,353Loss on sale of fixed assets301,618Changes in operating assets and liabilities:Accounts receivable(924)(157)Prepaid expenses and other current assets(101)(393)Other long-term assets(308)56Accounts payable6961,882Deferred revenue532(9)Operating lease liabilities(111)(98)Other liabilities1,294-Accrued liabilities99564Net cash (used in) provided by operating activities(3,836)1,763Net cash provided by operating activities- discontinued operations-328Investing ActivitiesPurchases of property, plant, and equipment(2,895)(52,618)Purchases of intangible assets(44)(79)Proceeds from disposal on property, plant, and equipment1,286465Deposits and credits on equipment, net(7,916)1,603Net cash used in investing activities(9,569)(50,629)Net cash provided by investing activities- discontinued operations-9,025Financing ActivitiesProceeds from preferred offerings-11,657Proceeds from common stock securities purchase agreement offering43-Proceeds from notes and debt issuance2,90029,736Costs of preferred offering-(1,904)Costs of common stock securities purchase agreement offering(4)-Costs and payments of notes and short-term debt issuance(175)(1,743)Cash dividend distribution on preferred stock-(2,131)Payments on NYDIG loans and line of credit(350)(2,590)Contributions from non-controlling interest19,414-Proceeds from stock option exercises-77Proceeds from common stock warrant exercises-779Net cash provided by financing activities21,82833,881Increase (decrease) in cash & restricted cash-continuing operations8,423(14,985)Increase in cash & restricted cash- discontinued operations-9,353Cash & restricted cash – beginning of period1,82110,258Cash & restricted cash – end of period$10,244$4,626Supplemental Disclosure of Cash Flow InformationNoncash equipment financing-4,620Interest paid on NYDIG loans and line of credit6770Noncash disposal of NYDIG collateralized equipment3,388-Proceed receivable from sale of MTI Instruments-205Notes converted to common stock1,7941,342Warrant consideration in relation to promissory notes and convertible notes1,3305,317Promissory note and interest conversion to common shares84515,236Registration fees in prepaids and accounts payable-(58)Noncash non-controlling interest contributions2,887-Series B preferred dividend in accrued expense383-Noncash activity right-of-use assets obtained in exchange for lease obligations39713View source version on businesswire.com: https://www.businesswire.com/news/home/20230814155652/en/ContactsDavid MichaelsSoluna Holdings, Inc.Chief Financial [email protected] Media Inquiries: Sam SovaFounder and [email protected]

Business Wire

Soluna Holdings Reports Q2 Results

https://finance.yahoo.com/news/soluna-holdings-reports-q2-results-213000416.html

4c2e582f-9c5e-3e43-972c-f480762c2e95

SLP

Key InsightsUsing the 2 Stage Free Cash Flow to Equity, Simulations Plus fair value estimate is US$37.21With US$44.49 share price, Simulations Plus appears to be trading close to its estimated fair value Analyst price target for SLP is US$59.33, which is 59% above our fair value estimateToday we will run through one way of estimating the intrinsic value of Simulations Plus, Inc. (NASDAQ:SLP) by projecting its future cash flows and then discounting them to today's value. We will take advantage of the Discounted Cash Flow (DCF) model for this purpose. Before you think you won't be able to understand it, just read on! It's actually much less complex than you'd imagine.Remember though, that there are many ways to estimate a company's value, and a DCF is just one method. Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model. View our latest analysis for Simulations Plus What's The Estimated Valuation?We use what is known as a 2-stage model, which simply means we have two different periods of growth rates for the company's cash flows. Generally the first stage is higher growth, and the second stage is a lower growth phase. In the first stage we need to estimate the cash flows to the business over the next ten years. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.Generally we assume that a dollar today is more valuable than a dollar in the future, and so the sum of these future cash flows is then discounted to today's value:10-year free cash flow (FCF) estimate2024202520262027202820292030203120322033 Levered FCF ($, Millions) US$13.8mUS$18.3mUS$22.9mUS$27.6mUS$33.1mUS$37.3mUS$40.8mUS$43.7mUS$46.2mUS$48.3mGrowth Rate Estimate SourceAnalyst x1Analyst x1Analyst x1Analyst x1Analyst x1Est @ 12.44%Est @ 9.36%Est @ 7.19%Est @ 5.68%Est @ 4.62% Present Value ($, Millions) Discounted @ 7.0% US$12.9US$16.0US$18.7US$21.1US$23.7US$24.9US$25.4US$25.5US$25.2US$24.6("Est" = FCF growth rate estimated by Simply Wall St)Present Value of 10-year Cash Flow (PVCF) = US$218mStory continuesWe now need to calculate the Terminal Value, which accounts for all the future cash flows after this ten year period. For a number of reasons a very conservative growth rate is used that cannot exceed that of a country's GDP growth. In this case we have used the 5-year average of the 10-year government bond yield (2.2%) to estimate future growth. In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 7.0%.Terminal Value (TV)= FCF2033 × (1 + g) ÷ (r – g) = US$48m× (1 + 2.2%) ÷ (7.0%– 2.2%) = US$1.0bPresent Value of Terminal Value (PVTV)= TV / (1 + r)10= US$1.0b÷ ( 1 + 7.0%)10= US$523mThe total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is US$742m. The last step is to then divide the equity value by the number of shares outstanding. Relative to the current share price of US$44.5, the company appears around fair value at the time of writing. Valuations are imprecise instruments though, rather like a telescope - move a few degrees and end up in a different galaxy. Do keep this in mind.dcfImportant AssumptionsNow the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows. If you don't agree with these result, have a go at the calculation yourself and play with the assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Simulations Plus as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 7.0%, which is based on a levered beta of 0.962. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.SWOT Analysis for Simulations PlusStrengthCurrently debt free.WeaknessEarnings declined over the past year.Dividend is low compared to the top 25% of dividend payers in the Healthcare Services market.Expensive based on P/E ratio and estimated fair value.OpportunityAnnual earnings are forecast to grow faster than the American market.ThreatRevenue is forecast to grow slower than 20% per year.Moving On:Valuation is only one side of the coin in terms of building your investment thesis, and it ideally won't be the sole piece of analysis you scrutinize for a company. It's not possible to obtain a foolproof valuation with a DCF model. Instead the best use for a DCF model is to test certain assumptions and theories to see if they would lead to the company being undervalued or overvalued. For instance, if the terminal value growth rate is adjusted slightly, it can dramatically alter the overall result. For Simulations Plus, there are three relevant elements you should explore:Financial Health: Does SLP have a healthy balance sheet? Take a look at our free balance sheet analysis with six simple checks on key factors like leverage and risk.Future Earnings: How does SLP's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with our free analyst growth expectation chart.Other Solid Businesses: Low debt, high returns on equity and good past performance are fundamental to a strong business. Why not explore our interactive list of stocks with solid business fundamentals to see if there are other companies you may not have considered!PS. Simply Wall St updates its DCF calculation for every American stock every day, so if you want to find the intrinsic value of any other stock just search here.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Calculating The Fair Value Of Simulations Plus, Inc. (NASDAQ:SLP)

https://finance.yahoo.com/news/calculating-fair-value-simulations-plus-103743071.html

20a74bea-1f69-3818-afd4-7f5bdce61062

SLP

Immersive activities helped attendees globally learn and apply best practices for PBPK modelingLANCASTER, Calif., September 07, 2023--(BUSINESS WIRE)--Simulations Plus, Inc. (Nasdaq: SLP), a leading provider of modeling and simulation solutions for the pharmaceutical and biotechnology industries, announced the successful completion of the inaugural University+ PBPK Summer Camp, an intensive eight-week course covering the theory and application of PBPK modeling using GastroPlus®. More than 80 attendees across 26 countries satisfactorily finished all rigorous assignments and earned their certificates of completion.The PBPK Summer Camp was offered as an enhancement to its University+ program, which provides software licenses to students and professors at accredited universities. During the program, students successfully learned how to build, evaluate, and apply PBPK models to critical drug development questions."This course provided clear and tangible insight to the interplay between drug and dosing environment physico-chemistry, patients’ physiology, and to their consequences on the transit of the drug inside the different body organs," said one student in a review. "With the new skills I have developed during the course, I feel able to address several knowledge gaps in my field of research."Another student noted in their feedback that the workshop would "significantly help [their] career transition from DMPK scientist to [the] PBPK field.""[This was] a transformative and enriching summer course," a student posted on LinkedIn. "I had the opportunity to expand my limits and connect with inspiring educators and instructors, making this a truly great learning experience."Denise Morris, Director of Learning Services, said: "There is no better way to bridge the gap between software access and training in academia than to collaborate with leading PBPK experts within the academic setting. With seven instructors scattered across the globe, we wanted to coordinate and design a course that was not only for academics but taught by academics as well. In keeping with the ubiquitous access to our University+ licensing program, we wanted to make sure that the course was accessible to as many students and educators as possible, resulting in a very complex structure that ensured the same quality experience, regardless of where attendees were in the world."Story continues"In October 2021, we started our University+ program to increase access to modeling and simulation (M&S) learning and education that supports the next generation of scientists," said Viera Lukacova, Chief Science Officer within the Simulations Plus PBPK Solutions group. "With more than 1,000 installed licenses across 300+ universities worldwide today, we have created a global platform for knowledge sharing and will continue to actively equip students with opportunities to enter the workforce ready to solve complex problems using best-in-class M&S techniques."Learn more about the University+ program or register for future workshops and trainings.About Simulations PlusServing clients worldwide for more than 25 years, Simulations Plus is a leading provider in the biosimulation market providing software and consulting services supporting drug discovery, development, research, and regulatory submissions. We offer solutions that bridge artificial intelligence (AI)/machine learning, physiologically based pharmacokinetics, quantitative systems pharmacology/toxicology, and population PK/PD modeling approaches. Our technology is licensed and applied by major pharmaceutical, biotechnology, and regulatory agencies worldwide. For more information, visit our website at www.simulations-plus.com. Follow us on LinkedIn | Twitter | YouTube.Environmental, Social, and Governance (ESG)We focus our Environmental, Social, and Governance (ESG) efforts where we can have the most positive impact. To learn more about our latest initiatives and priorities, please visit our website to read our 2022 ESG update.Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 – With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. Words like "believe," "expect" and "anticipate" mean that these are our best estimates as of this writing, but that there can be no assurances that expected or anticipated results or events will actually take place, so our actual future results could differ significantly from those statements. Factors that could cause or contribute to such differences include, but are not limited to: our ability to maintain our competitive advantages, acceptance of new software and improved versions of our existing software by our customers, the general economics of the pharmaceutical industry, our ability to finance growth, our ability to continue to attract and retain highly qualified technical staff, our ability to identify and close acquisitions on terms favorable to the Company, and a sustainable market. Further information on our risk factors is contained in our quarterly and annual reports and filed with the U.S. Securities and Exchange Commission.View source version on businesswire.com: https://www.businesswire.com/news/home/20230907513358/en/ContactsSimulations Plus Investor Relations Renee [email protected] Profiles Tamara [email protected]

Business Wire

Simulations Plus Hosts First-of-its-Kind Virtual Summer Camp for Students and Professors

https://finance.yahoo.com/news/simulations-plus-hosts-first-kind-123000064.html

d4f14785-77c5-35e4-b8b7-e54886ea4276

SLRC

SLR Investment Corp.Net Investment Income of $0.42 Per Share for Q2 2023NEW YORK, Aug. 08, 2023 (GLOBE NEWSWIRE) -- SLR Investment Corp. (NASDAQ: SLRC) (the “Company” or “SLRC”) today reported net investment income of $22.7 million, or $0.42 per share, for the second quarter of 2023.At June 30, 2023, net asset value (NAV) was $17.98 per share, compared to $18.04 for the quarter ended March 31, 2023.On August 8, 2023, the Board declared a monthly distribution of $0.136667 per share payable on August 30, 2023 to holders of record as of August 18, 2023. The specific tax characteristics of the distribution will be reported to stockholders on Form 1099 after the end of the calendar year. Additionally, the Company intends to return to making quarterly, rather than monthly, distributions beginning in Q4 2023.HIGHLIGHTS:At June 30, 2023:Comprehensive Investment Portfolio* fair value: $3.1 billionNumber of unique issuers: approximately 780Net assets: $980.8 millionNet asset value per share: $17.98Net debt-to-equity**: 1.23x Comprehensive Investment Portfolio Activity*** for the Quarter Ended June 30, 2023:Investments made during the quarter: $393.9 millionInvestments prepaid and sold during the quarter: $265.0 million Operating Results for the Quarter Ended June 30, 2023:Net investment income: $22.7 millionNet investment income per share: $0.42Net realized and unrealized loss: $3.7 millionNet increase in net assets from operations: $19.0 millionEarnings per share: $0.35 * The Comprehensive Investment Portfolio for the quarter ended June 30, 2023 is comprised of SLRC’s investment portfolio and SLR Credit Solutions’ (“SLR-CS”) full portfolio, SLR Equipment Finance’s (“SLR-EF”) full portfolio, Kingsbridge Holdings, LLC’s (“KBH”) full portfolio, SLR Business Credit’s (“SLR-BC”) full portfolio, SLR Healthcare ABL’s (“SLR-HC ABL”) full portfolio owned by the Company (collectively, the Company’s “Commercial Finance Portfolio Companies”), and the senior secured loans held by the SLR Senior Lending Program LLC (“SSLP”) attributable to the Company, and excludes the Company’s fair value of the equity interests in SSLP and the Commercial Finance Portfolio Companies and also excludes SLRC’s loans to KBH and SLR-EF.** Please see Liquidity and Capital Resources below.*** Comprehensive Portfolio Activity for the quarter ended June 30, 2023 includes investment activity of the Commercial Finance Portfolio Companies and SSLP attributable to the Company. “We are pleased with our second quarter results, with our NII continuing the past several quarter’s steady growth as we rebuild the portfolio post our decision to de-leverage during the pandemic. Our portfolio’s credit quality remains stable despite the continued high levels of interest rates and inflation,” said Michael Gross, Co-CEO of SLR Investment Corp. “We believe this is due to our conservative underwriting approach, unique asset mix combining sponsor finance and specialty finance strategies, and focus on recession resilient industries.”Story continues“The second quarter proved to be strong for originations. The market environment remains attractive, with the continued retrenchment by both regional banks and the syndicated loan market resulting in a compelling opportunity set,” said Bruce Spohler, Co-CEO of SLR Investment Corp. “We have experienced an uptick in the demand for our financing solutions and importantly we have significant capital to continue to take advantage of today’s favorable investment climate. We expect our net investment income per share to increase as we invest in what we believe will be a strong vintage for private credit.”Conference Call and WebcastThe Company will host an earnings conference call and audio webcast at 10:00 a.m. (Eastern Time) on Wednesday, August 9, 2023. All interested parties may participate in the conference call by dialing (800) 267-6316 approximately 5-10 minutes prior to the call, international callers should dial (203) 518-9783. Participants should reference SLR Investment Corp. and Conference ID: SLRC2Q23. A telephone replay will be available until August 23, 2023 and can be accessed by dialing (800) 934-4851. International callers should dial (402) 220-1181. This conference call will also be broadcast live over the Internet and can be accessed by all interested parties from the Event Calendar within the “Investors” tab of SLR Investment Corp.’s website, www.slrinvestmentcorp.com. Please register online prior to the start of the call. For those who are not able to listen to the broadcast live, a replay of the webcast will be available soon after the call.Comprehensive Investment PortfolioPortfolio ActivityDuring the three months ended June 30, 2023, SLRC had total originations of $393.9 million and repayments of $265.0 million across the Company’s four investment strategies:For the Quarter Ended June 30, 2023 ($mm)      Asset ClassSponsor Finance(1)Asset-based Lending(2)Equipment Finance(3)Life Science FinanceTotal Comprehensive Investment Portfolio ActivityOriginations$114.9$113.2$148.9$16.9$393.9Repayments / Amortization$54.7$99.0$108.6$2.7$265.0Net Portfolio Activity$60.2$14.2$40.3$14.2$ 128.9(1)Sponsor Finance refers to cash flow loans to sponsor-owned companies including cash flow loans held in the SLR Senior Lending Program LLC attributable to the Company.(2)Includes SLR-CS, SLR-BC and SLR-HC ABL’s full portfolios, as well as asset-based loans on the Company’s balance sheet.(3)Includes SLR-EF’s full portfolio and equipment financings on the Company’s balance sheet and Kingsbridge Holdings’ (KBH) full portfolio.  Portfolio CompositionThe Comprehensive Investment Portfolio is diversified across approximately 780 unique issuers operating in over 115 industries, with an average exposure of $3.9 million or 0.1% per issuer.At June 30, 2023, 99.4% of the Company’s Comprehensive Investment Portfolio was invested in senior secured loans of which 97.9% is held in first lien senior secured loans. Second lien ABL exposure is 1.2% and second lien cash flow exposure is 0.2% of the Comprehensive Investment Portfolio at June 30, 2023.SLRC’s Comprehensive Investment Portfolio composition by asset class at June 30, 2023 was as follows:Comprehensive Investment Portfolio Composition (at fair value)AmountWeighted Average Asset Yield(5) ($mm)%Senior Secured Investments Cash Flow Loans (Sponsor Finance)(1)$739.824.2%11.6%Asset-Based Loans(2)$983.432.2%14.6%Equipment Financings(3)$975.431.9%9.6%Life Science Loans$339.511.1%13.2%Total Senior Secured Investments$3,038.199.4%12.1%Equity and Equity-like Securities$17.90.6% Total Comprehensive Investment Portfolio$3,056.0100.0% Floating Rate Investments(4)$1,998.565.7% First Lien Senior Secured Loans$2,992.997.9% Second Lien Senior Secured Cash Flow Loans$7.20.2% Second Lien Senior SecuredAsset-Based Loans$37.91.2% (1)Includes cash flow loans held in the SSLP attributable to the Company and excludes the Company’s equity investment in SSLP.(2)Includes SLR-CS, SLR-BC, and SLR-HC ABL’s full portfolios, as well as asset-based loans on the Company’s balance sheet, and excludes the Company’s equity investments in each of SLR-CS, SLR-BC, and SLR-HC ABL.(3)Includes SLR-EF’s full portfolio and equipment financings on the Company’s balance sheet and Kingsbridge Holdings’ (KBH) full portfolio. Excludes the Company’s equity and debt investments in each of SLR-EF and KBH.(4)Floating rate investments are calculated as a percent of the Company’s income-producing Comprehensive Investment Portfolio. The majority of fixed rate loans are associated with SLR-EF and leases held by KBH. Additionally, SLR-EF and KBH seek to match-fund their fixed rate assets with fixed rate liabilities.(5)The weighted average asset yield for income producing cash flow, asset-based and life science loans on balance sheet is based on a yield to maturity calculation. The yield calculation of Life Science loans excludes the impact of success fees and/or warrants. The weighted average yield for on-balance sheet equipment financings is calculated based on the expected average life of the investments. The weighted average asset yield for SLR-CS asset-based loans is an Internal Rate of Return calculated using actual cash flows received and the expected terminal value. The weighted average asset yield for SLR-BC and SLR-HC ABL represents total interest and fee income for the three-month period ending on June 30, 2023 against the average portfolio over the same fiscal period, annualized. The weighted average asset yield for SLR-EF represents total interest and fee income for the three-month period ending on June 30, 2023 against the portfolio as of June 30, 2023, annualized. The weighted average yield for the KBH equipment leasing portfolio represents the expected return on equity during 2023.  SLR Investment Corp. PortfolioAsset QualityAs of June 30, 2023, 99.4% of SLRC’s portfolio was performing on a fair value basis.The Company puts its largest emphasis on risk control and credit performance. On a quarterly basis, or more frequently if deemed necessary, the Company formally rates each portfolio investment on a scale of one to four, with one representing the least amount of risk.As of June 30, 2023, the composition of our portfolio, on a risk ratings basis, was as follows:Internal Investment RatingInvestments at Fair Value ($mm)% of Total Portfolio1$609.327.9%2$1,558.371.5%3$6.60.3%4$7.20.3%Investment Income Contribution by Asset ClassInvestment Income Contribution by Asset Class(1) ($mm)For the Year Ended:Sponsor FinanceAsset-based LendingEquipment FinanceLife Science FinanceTotal ($mm)6/30/2023$20.4$13.7$9.5$12.7$56.3% Contribution36.2%24.3%16.9%22.6%100.0%(1)Investment Income Contribution by Asset Class includes: interest income/fees from Sponsor Finance (cash flow) loans on balance sheet and distributions from SSLP; income/fees from asset-based loans on balance sheet and distributions from SLR-CS, SLR-BC, SLR-HC ABL; income/fees from equipment financings and distributions from SLR-EF and distributions from KBH; and income/fees from life science loans on balance sheet.  SLR Senior Lending Program LLCAs of June 30, 2023, the Company and Sunstone Senior Credit L.P. had contributed combined equity capital in the amount of $41.5 million of a total equity commitment of $100 million to SSLP. At June 30, 2023, SSLP had total assets of $79.4 million consisting of floating rate senior secured loans to 20 different borrowers. During the quarter ended June 30, 2023, SSLP invested $32.6 million in 9 portfolio companies. Based on transfers made from SLRC’s balance sheet in the third quarter to date, as well as new investment activity, we expect the SSLP to have substantially increased its investment commitments by September 30, 2023.SLR Investment Corp.’s Results of Operations for the Quarter Ended June 30, 2023 compared to the Quarter Ended June 30, 2022.Investment Income For the fiscal quarters ended June 30, 2023 and 2022, gross investment income totaled $56.3 million and $42.8 million, respectively. The increase in gross investment income for the year over year three-month periods was primarily due to net growth of the income producing portfolio as well as an increase in index rates.Expenses SLRC’s net expenses totaled $33.7 million and $22.5 million, respectively, for the three months ended June 30, 2023 and 2022. The increase in expenses from 2022 to 2023 was primarily due to higher management fees, incentive fees, and interest expense on a larger portfolio. Additionally, there was an increase in index rates on borrowings.Net Investment Income SLRC’s net investment income totaled $22.7 million and $20.3 million, or $0.42 and $0.37, per average share, respectively, for the fiscal quarters ended June 30, 2023 and 2022.Net Realized and Unrealized LossNet realized and unrealized loss for the fiscal quarters ended June 30, 2023 and 2022 totaled approximately $3.7 million and $35.9 million, respectively.Net Increase (Decrease) in Net Assets Resulting from Operations For the three months ended June 30, 2023 and 2022, the Company had a net increase / (decrease) in net assets resulting from operations of $19.0 million and ($15.6) million, respectively. For the same periods, earnings / (loss) per average share were $0.35 and ($0.29), respectively.Liquidity and Capital Resources Credit Facilities and Available CapitalAt June 30, 2023, the Company had $649.2 million drawn on the $850 million of capacity that the Company has under its revolving credit facilities, $100 million of term loans, and $470 million of unsecured notes. At June 30th, including available credit facility capacity at the SSLP and our specialty finance portfolio companies, subject to borrowing base limits, SLRC had approximately $600 million in available capital to take advantage of the current attractive investment environment.LeverageOn June 30, 2023, the Company’s net debt-to-equity was 1.23x, within the Company’s target range of 0.9x to 1.25x. The net leverage is expected to decrease as the Company continues to ramp the SSLP.Unfunded CommitmentsAt June 30, 2023, excluding commitments to SLR-CS, SLR-EF, SLR-HC ABL and SSLP, over which the Company controls such funding, the Company had unfunded commitments of approximately $276.7 million.Subsequent EventsDistributionsOn July 5, 2023, the Board declared a monthly distribution of $0.136667 per share, which was paid on August 1, 2023 to holders of record as of July 20, 2023. On August 8, 2023, the Board declared a monthly distribution of $0.136667 per share payable on August 30, 2023 to holders of record as of August 18, 2023. The specific tax characteristics of the distribution will be reported to stockholders on Form 1099 after the end of the calendar year. Additionally, the Company intends to return to making quarterly, rather than monthly, distributions beginning in Q4 2023.Financial Statements and TablesSLR INVESTMENT CORP.CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES(in thousands, except share amounts)     June 30, 2023 (unaudited) December 31, 2022Assets     Investments at fair value:     Companies less than 5% owned (cost: $1,358,634 and $1,312,701, respectively)$1,340,356  $1,289,082 Companies 5% to 25% owned (cost: $59,803 and $0, respectively) 42,157   — Companies more than 25% owned (cost: $831,089 and $821,886, respectively) 798,913   797,594 Cash 14,428   10,743 Cash equivalents (cost: $333,200 and $417,590, respectively) 333,200   417,590 Dividends receivable 10,754   11,192 Interest receivable 11,071   9,706 Receivable for investments sold 1,469   1,124 Prepaid expenses and other assets 882   664       Total assets$2,553,230  $2,537,695       Liabilities     Debt ($1,219,200 and $1,093,200 face amounts, respectively, reported net of unamortized debt issuance costs of $6,167 and $7,202, respectively.)$1,213,033  $1,085,998 Payable for investments and cash equivalents purchased 333,200   417,611 Distributions payable —   7,481 Management fee payable 7,878   7,964 Performance-based incentive fee payable 5,513   5,422 Interest payable 6,937   7,943 Administrative services payable 2,166   1,488 Other liabilities and accrued expenses 3,698   4,057       Total liabilities$1,572,425  $1,537,964             Net Assets     Common stock, par value $0.01 per share, 200,000,000 and 200,000,000 common shares authorized, respectively, and 54,554,634 and 54,555,380 shares issued and outstanding, respectively$546  $546 Paid-in capital in excess of par 1,162,559   1,162,569 Accumulated distributable net loss (182,300)  (163,384)      Total net assets$980,805  $999,731       Net Asset Value Per Share$17.98  $18.33 SLR INVESTMENT CORP.CONSOLIDATED STATEMENTS OF OPERATIONS(in thousands, except share amounts)  Three months ended June 30, 2023 June 30, 2022INVESTMENT INCOME:     Interest:     Companies less than 5% owned$41,267  $28,855 Companies 5% to 25% owned 265   — Companies more than 25% owned 2,814   1,922 Dividends:     Companies more than 25% owned 11,177   11,083 Other income:     Companies less than 5% owned 757   925 Companies more than 25% owned 57   (5)      Total investment income 56,337   42,780       EXPENSES:     Management fees$7,878  $6,913 Performance-based incentive fees 5,638   4,734 Interest and other credit facility expenses 17,842   10,352 Administrative services expense 1,480   1,369 Other general and administrative expenses 948   476       Total expenses 33,786   23,844    Performance-based incentive fees waived (125)  (1,358)      Net expenses 33,661   22,486       Net investment income$22,676  $20,294       REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND CASH EQUIVALENTS:     Net realized gain (loss) on investments and cash equivalents (companies less than 5% owned)$498  $(105)      Net change in unrealized gain (loss) on investments and cash equivalents:     Companies less than 5% owned 5,181   (11,764)Companies 5% to 25% owned (3,216)  — Companies more than 25% owned (6,144)  (24,071)            Net change in unrealized loss on investments and cash equivalents (4,179)  (35,835)      Net realized and unrealized loss on investments and cash equivalents (3,681)  (35,940)      NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS$18,995  $(15,646)      EARNINGS (LOSS) PER SHARE$0.35  $(0.29)        About SLR Investment Corp.SLR Investment Corp. is a closed-end investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940. A specialty finance company with expertise in several niche markets, the Company primarily invests in leveraged, U.S. upper middle market companies in the form of cash flow, asset-based, and life sciences senior secured loans.Forward-Looking StatementsSome of the statements in this press release constitute forward-looking statements because they relate to future events, future performance or financial condition. The forward-looking statements may include statements as to: an increase in the size of SLRC’s income producing comprehensive portfolio; the market environment and its impact on the business prospects of SLRC and the prospects of SLRC’s portfolio companies; prospects for additional portfolio growth of SLRC; and the impact on the performance of SLRC from the investments that SLRC has made and expects to make. In addition, words such as “anticipate,” “believe,” “expect,” “seek,” “plan,” “should,” “estimate,” “project” and “intend” indicate forward-looking statements, although not all forward-looking statements include these words. The forward-looking statements contained in this press release involve risks and uncertainties. Certain factors could cause actual results and conditions to differ materially from those projected, including the uncertainties associated with: (i) changes in the economy, financial markets and political environment, including the impacts of inflation and rising interest rates; (ii) risks associated with possible disruption in the operations of SLRC or the economy generally due to terrorism, war or other geopolitical conflicts (including the current conflict between Russia and Ukraine), natural disasters or pandemics; (iii) future changes in laws or regulations (including the interpretation of these laws and regulations by regulatory authorities); (iv) conditions in SLRC’s operating areas, particularly with respect to business development companies or regulated investment companies; and (v) other considerations that may be disclosed from time to time in SLRC’s publicly disseminated documents and filings. SLRC has based the forward-looking statements included in this press release on information available to it on the date of this press release, and SLRC assumes no obligation to update any such forward-looking statements. Although SLRC undertakes no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise, you are advised to consult any additional disclosures that it may make directly to you or through reports that SLRC in the future may file with the Securities and Exchange Commission, including annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K.ContactSLR Investment Corp.Investor Relations(646) 308-8770

GlobeNewswire

SLR Investment Corp. Announces Quarter Ended June 30, 2023 Financial Results

https://finance.yahoo.com/news/slr-investment-corp-announces-quarter-200100363.html

41d03f65-e25c-3db7-b417-4a65512ef417

SLRC

SLR Investment Corp.NEW YORK, Sept. 05, 2023 (GLOBE NEWSWIRE) -- SLR Investment Corp. (the “Company”) (NASDAQ: SLRC), today declared a distribution of $0.136667 per share for the month of September 2023. The distribution is payable on September 28, 2023 to stockholders of record as of September 20, 2023. The specific tax characteristics of the distribution will be reported to stockholders on Form 1099 after the end of the calendar year.ABOUT SLR INVESTMENT CORP.SLR Investment Corp. is a closed-end investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. A specialty finance company with expertise in several niche markets, the Company generally invests directly and indirectly in leveraged, U.S. middle market companies primarily in the form of cash flow senior secured loans, including first lien loans, and asset-based loans collateralized on a first lien basis primarily by current assets.FORWARD-LOOKING STATEMENTSStatements included herein may constitute “forward-looking statements,” which relate to future events or our future performance or financial condition. These statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties, including the impact of COVID-19 and related changes in base interest rates and significant market volatility on our business, our portfolio companies, our industry and the global economy. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission. SLR Investment Corp. undertakes no duty to update any forward-looking statements made herein, unless required to do so by law.Contact:SLR Investment Corp. Investor Relations646-308-8770

GlobeNewswire

SLR Investment Corp. Announces Monthly Distribution for September 2023

https://finance.yahoo.com/news/slr-investment-corp-announces-monthly-120000826.html

f85de24d-1e70-36db-9443-b14214abfff9

SMAR

The work-management software company beat quarterly estimates and raised its full-year guidance. Here's what investors need to know.Continue reading

Motley Fool

Why Smartsheet Stock Popped Today

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2ba2c33b-649a-3205-8493-9239fe096d04

SMAR

Kroger recorded a $1.4 billion charge in its second quarter to settle opioid claims, Apple stock rose after two days of steep losses, Planet Labs reduced revenue guidance, and Smartsheet surged following better-than-expected earnings.Continue reading

Barrons.com

Kroger, Apple, Planet Labs, Smartsheet, RH, Snowflake, and More of Today’s Stock Market Movers

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937d0dbf-5a6e-3f70-9eb2-b7fa7f156a27

SMID

MIDLAND, VA / ACCESSWIRE / August 14, 2023 / Smith-Midland Corporation (NASDAQ:SMID) (the "Company"), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, today announced that it will file a Form 12b-25 with the Securities and Exchange Commission to provide notice of the late filing of its Annual Report on Form 10-Q ("Form 10-Q") for the period ended June 30, 2023.The extension is related to the Company's transition to its new independent registered public accounting firm as detailed in the forthcoming filing of the Form 12b-25. The extension is not related to any of the Company's internal financial reporting processes or controls.About Smith-MidlandSmith-Midland develops, manufactures, licenses, rents, and sells a broad array of precast concrete products for use primarily in the construction, transportation, and utilities industries. Management and the board own approximately five percent of SMID stock, aligning with shareholder values.Smith-Midland Corporation has three manufacturing facilities located in Midland, VA, Reidsville, NC, and Columbia, SC, and Concrete Safety Systems, our J-J Hooks Safety Barrier rental division. Easi-Set Worldwide, a wholly owned subsidiary of Smith-Midland Corporation, licenses the production and sale of Easi-Set products, including J-J Hooks and SlenderWall, and provides diversification opportunities to the precast industry worldwide. For more information, please call (540) 439-3266 or visit www.smithmidland.com.Forward-Looking StatementsThis announcement contains forward-looking statements, which involve risks and uncertainties. The Company's actual results may differ significantly from the results discussed in the forward-looking statements. Factors which might cause such a difference include, but are not limited to, product demand, the impact of competitive products and pricing, capacity and supply constraints or difficulties, general business and economic conditions, out debt exposure, the effect of the Company's accounting policies and other risks detailed in the Company's Annual Report on Form 10-K and other filings with the Securities and Exchange Commission.Story continuesMedia Inquiries:[email protected] (540) 439-8056Sales Inquiries:[email protected] (540) 439-3266Investor Relations:Steven HooserThree Part Advisors, LLC(214) 872-2710SOURCE: Smith-Midland CorporationView source version on accesswire.com: https://www.accesswire.com/774155/Smith-Midland-Announces-Delayed-Filing-of-Form-10-Q

ACCESSWIRE

Smith-Midland Announces Delayed Filing of Form 10-Q

https://finance.yahoo.com/news/smith-midland-announces-delayed-filing-212200326.html

2e81468d-c414-34f0-b8d6-7100f175b87a

SMID

MIDLAND, VA / ACCESSWIRE / August 23, 2023 / Smith-Midland Corporation (NASDAQ:SMID) (the "Company"), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, today announced that it received a letter dated August 17, 2023, from Nasdaq, indicating that the Company was not in compliance with Nasdaq listing rule 5250(c)(1), which requires the timely filing of all required periodic financial reports with the Securities and Exchange Commission. The required filing in question is the Company's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2023 (the "Form 10-Q").The delay in filing the Form 10-Q is related to the Company's transition to a new independent registered public accounting firm as detailed in its recent filing of the Form 12b-25. The matter is not related to any of the Company's internal financial reporting processes or controls.Additionally, on August 23, 2023, the Company's Audit Committee of the Board of Directors approved the engagement of BDO USA, LLP ("BDO") as the Company's new registered accounting firm. It is anticipated that BDO will commence its review of the Form 10-Q shortly, after which the Company will be able to file the Form 10-Q.About Smith-Midland CorporationSmith-Midland develops, manufactures, licenses, rents, and sells a broad array of precast concrete products and systems for use primarily in the construction, transportation, and utility industries.Smith-Midland Corporation has three manufacturing facilities located in Midland, VA, Reidsville, NC, and Columbia, SC, and a J-J Hooks® Safety Barrier rental firm, Concrete Safety Systems. Easi-Set Worldwide, a wholly owned subsidiary of Smith-Midland Corporation, licenses the production and sale of Easi-Set products, including J-J Hooks and SlenderWall®, and provides diversification opportunities to the precast industry worldwide. For more information, please call (540) 439-3266 or visit www.smithmidland.com.Story continuesForward-Looking StatementsThis announcement contains forward-looking statements, which involve risks and uncertainties. The Company's actual results may differ significantly from the results discussed in the forward-looking statements. Factors which might cause such a difference include, but are not limited to, product demand, the impact of competitive products and pricing, capacity and supply constraints or difficulties, general business and economic conditions, our debt exposure, the effect of the Company's accounting policies and other risks detailed in the Company's Annual Report on Form 10-K and other filings with the Securities and Exchange Commission.Media Inquiries:[email protected](540) 439-8056Sales Inquiries:[email protected](540) 439-3266Investor Relations:Steven Hooser or John BeislerThree Part Advisors, LLC(214) 872-2710SOURCE: Smith-Midland CorporationView source version on accesswire.com: https://www.accesswire.com/776404/Smith-Midland-Announces-Receipt-of-Nasdaq-Letter-and-Engagement-of-New-Audit-Firm

ACCESSWIRE

Smith-Midland Announces Receipt of Nasdaq Letter and Engagement of New Audit Firm

https://finance.yahoo.com/news/smith-midland-announces-receipt-nasdaq-211000198.html

60bcc9a1-5d77-3a07-855f-c85cccd89a60

SMP

A month has gone by since the last earnings report for Standard Motor Products (SMP). Shares have added about 1.2% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Standard Motor Products due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.Standard Motor Q2 Earnings Miss EstimatesStandard Motor reported second-quarter 2023 adjusted earnings of 84 cents per share, which declined from 93 cents in the prior-year quarter and lagged the Zacks Consensus Estimate of 97 cents. Lower-than-anticipated revenues from Vehicle Control and Temperature control units largely resulted in the underperformance.Total revenues inched down from $359 million in the second quarter of 2022 to $353.1 million in the quarter under review. The reported figure lagged the consensus mark of $372 million. Gross profit rose to $101.3 million from the year-ago quarter’s $96.4 million. Operating income fell to $27.2 million from $27.9 million reported in the year-ago quarter.Segmental ResultsDuring the reported quarter, revenues from the Vehicle Control segment totaled $183.8 million, down 1% year over year, and missed our estimate of $194 million. Customer bankruptcy had the greatest influence on this particular segment, resulting in a 2.2% decline during the quarter. Operating income was $19.4 million, up from the prior-year quarter’s $16 million.During the reported quarter, revenues from the Engineered Solutions segment totaled $72.2 million, up 6% year over year, and topped our estimate of $69 million on stronger-than-expected demand from existing customers as well as new business wins. Operating income was $6.2 million, up from the prior-year quarter’s $5.1 million.Revenues from the Temperature Control segment came in at $97.1 million, declining from the year-ago quarter’s $105.6 million as well as missing our projection of $107.6 million. Against a backdrop of challenging comparisons to the previous year, cooler and wetter spring weather adversely impacted the demand for this seasonal product category. The segment registered an operating income of $5.9 million, down from $10.5 million reported in the year-ago period.Story continuesOperating loss from the Other segment was $4.05 million, wider than $3.79 million recorded in the year-ago quarter.Financial PositionStandard Motor had $23 million in cash as of Jun 30, 2023, compared with $21.1 million as of Dec 31, 2022. Long-term debt totaled $164.5 million at quarter end. Net cash outflow from operating activities totaled $18.9 million in the second quarter of 2023. SG&A expenses flared up 7.7% to $73.8 million.The company approved a quarterly dividend of 29 cents per share, which will be paid out on Sep 1, 2023 to stockholders of record as of Aug 15, 2023.ViewFor full-year 2023, the company expects sales to grow by a low single-digit number. Standard Motor has revised its outlook for adjusted EBITDA at around 9.5% of total revenues, which is down from the previous estimate of roughly 10%.How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in estimates revision.The consensus estimate has shifted -11.64% due to these changes.VGM ScoresCurrently, Standard Motor Products has a strong Growth Score of A, though it is lagging a lot on the Momentum Score front with a D. However, the stock was allocated a grade of A on the value side, putting it in the top 20% for this investment strategy.Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Standard Motor Products has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportStandard Motor Products, Inc. (SMP) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Standard Motor Products (SMP) Up 1.2% Since Last Earnings Report: Can It Continue?

https://finance.yahoo.com/news/standard-motor-products-smp-1-153138532.html

3c42d008-1c0e-30c8-8085-3abe25ac9fda

SMP

What trends should we look for it we want to identify stocks that can multiply in value over the long term? Firstly, we'll want to see a proven return on capital employed (ROCE) that is increasing, and secondly, an expanding base of capital employed. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. However, after investigating Standard Motor Products (NYSE:SMP), we don't think it's current trends fit the mold of a multi-bagger.Return On Capital Employed (ROCE): What Is It?Just to clarify if you're unsure, ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business. To calculate this metric for Standard Motor Products, this is the formula:Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)0.15 = US$143m ÷ (US$1.3b - US$348m) (Based on the trailing twelve months to June 2023).Thus, Standard Motor Products has an ROCE of 15%. In absolute terms, that's a satisfactory return, but compared to the Auto Components industry average of 12% it's much better. See our latest analysis for Standard Motor Products roceIn the above chart we have measured Standard Motor Products' prior ROCE against its prior performance, but the future is arguably more important. If you're interested, you can view the analysts predictions in our free report on analyst forecasts for the company.The Trend Of ROCEOn the surface, the trend of ROCE at Standard Motor Products doesn't inspire confidence. To be more specific, ROCE has fallen from 21% over the last five years. On the other hand, the company has been employing more capital without a corresponding improvement in sales in the last year, which could suggest these investments are longer term plays. It's worth keeping an eye on the company's earnings from here on to see if these investments do end up contributing to the bottom line.Story continuesOn a side note, Standard Motor Products has done well to pay down its current liabilities to 27% of total assets. So we could link some of this to the decrease in ROCE. Effectively this means their suppliers or short-term creditors are funding less of the business, which reduces some elements of risk. Some would claim this reduces the business' efficiency at generating ROCE since it is now funding more of the operations with its own money.The Bottom LineTo conclude, we've found that Standard Motor Products is reinvesting in the business, but returns have been falling. Since the stock has declined 19% over the last five years, investors may not be too optimistic on this trend improving either. All in all, the inherent trends aren't typical of multi-baggers, so if that's what you're after, we think you might have more luck elsewhere.One more thing, we've spotted 2 warning signs facing Standard Motor Products that you might find interesting.While Standard Motor Products may not currently earn the highest returns, we've compiled a list of companies that currently earn more than 25% return on equity. Check out this free list here.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Standard Motor Products' (NYSE:SMP) Returns On Capital Not Reflecting Well On The Business

https://finance.yahoo.com/news/standard-motor-products-nyse-smp-145035203.html

9cd34531-5832-3550-ad42-7802fc2a3487

SMRT

Global distributor's geographic footprint and strong distribution channels will help improve smart technology leader’s cash position and lower inventory levelsSCOTTSDALE, Ariz., August 08, 2023--(BUSINESS WIRE)--SmartRent, Inc. (NYSE: SMRT) ("SmartRent" or the "Company"), a leading provider of smart home and property operations solutions for the rental housing industry, has entered into an agreement with ADI Global Distribution, a Resideo Technologies, Inc. company, to serve as its preferred distribution partner.A leading distributor of security, AV and low-voltage products, ADI's expansive network allows for efficient and timely order fulfillment for SmartRent’s 500+ rental housing customers, fortifying the Company’s inventory and distribution activities, and enabling it to streamline inventory management and enhance product availability."Demand for our solutions remains robust, and it’s imperative that we are able to meet the needs of our customers while continuing to prioritize the innovation and product enhancements that keep us at the forefront of the industry," said SmartRent CEO Lucas Haldeman. "ADI is one of the most trusted names in the space, and we are proud to partner with them to meet our fulfillment needs and exceed customer expectations. This expanded relationship with ADI strengthens our overall partnership with Resideo."ADI was selected for its best-in-class operations, extensive product portfolio and local inventory availability. ADI has been supplying SmartRent with more than 100,000 Resideo thermostats per year, and this agreement will expand across the full product offering. In addition to prompt order fulfillment, the multiyear agreement provides SmartRent with needed hardware on demand while reducing its cash investment in inventory. Over time, SmartRent anticipates the decrease in on hand inventory will increase its cash balances."ADI is committed to serving as the indispensable partner of choice for our customers," said Rob Aarnes, President of ADI Global Distribution. "We're excited to expand upon our relationship with SmartRent to help them navigate their product needs and drive toward long-term business goals, while also resulting in incremental revenue growth for ADI."Story continuesTo learn more about SmartRent, visit smartrent.com.About SmartRentFounded in 2017, SmartRent, Inc. (NYSE: SMRT) is a leading provider of smart home and smart property solutions for the rental housing industry. The company’s unmatched platform, comprised of smart hardware and cloud-based SaaS solutions, gives operators seamless visibility and control over real estate assets, empowering them to simplify operations, automate workflows, benefit from additional revenue opportunities and deliver exceptional site team and resident experiences. SmartRent serves 15 of the top 20 multifamily owners and operators, and its solutions enable millions of users to live smarter every day. For more information, please visit www.smartrent.com.About ADIADI Global Distribution, a Resideo company, is a leading distributor of security, AV and low-voltage products serving more than 100,000 customers across North America, Europe, Middle East, and Africa. Leading pros rely on ADI for our wide selection of top brands, immediate product availability, knowledgeable sales staff and our product, design and support. Customers can shop ADI through its Digital Branch, mobile app and in more than 200 stocking locations. ADI solutions include Intrusion & Smart Home, Fire, Video Surveillance, Access Control & Communications, Residential AV, Pro AV, Networking, Data Communications, Power, Central Vacuum, Structured Wiring, Wire & Cable, and Tools & Hardware. For more information about ADI, visit adiglobal.com.Forward-Looking StatementsThis press release contains forward-looking statements relating to the growth, interest, cost savings, flexibility and technological advantages of the agreement with ADI Global Distribution, and may contain words such as "estimate," "expect," "anticipate," "intend," "may," "will" or similar expressions. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties that may cause actual results to differ materially. This press release should be read in conjunction with the information included in the Company's other press releases, reports and other filings with the Securities and Exchange Commission (SEC) including, in particular, risks and uncertainties described under the heading "Risk Factors" in SmartRent’s Annual Report on Form 10-K and subsequent period reports filed with the SEC and available at www.smartrent.com. Many of these uncertainties and risks are difficult to predict and beyond management’s control. Forward-looking statements are not guarantees of future performance, results or events. SmartRent assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.View source version on businesswire.com: https://www.businesswire.com/news/home/20230808044150/en/ContactsInvestor Contact Brian Ruttenbur - Senior Vice President, Investor RelationsMobile: [email protected] Contact Amanda Chavez - Senior Director, Corporate [email protected]

Business Wire

SmartRent Selects ADI Global Distribution as Preferred Distribution Partner

https://finance.yahoo.com/news/smartrent-selects-adi-global-distribution-120000365.html

6e50641f-1b6d-3b90-806b-9ae9c8265f6a

SMRT

Fifth Consecutive Quarter of Improved Adjusted EBITDA - Clear Path to ProfitabilitySCOTTSDALE, Ariz., August 08, 2023--(BUSINESS WIRE)--SmartRent, Inc. (NYSE: SMRT) ("SmartRent" or the "Company"), a leading provider of smart home and property operations solutions for the rental housing industry, today reported financial results for the three months ended June 30, 2023. Management is hosting an investor call to discuss results today, August 8, 2023, at 12:30 p.m. Eastern Time.Second Quarter 2023 Financial and Business HighlightsRevenue of $53.4 million, up 26% year-over-year.Gross profit of $9.9 million, up 900% year-over-year.Net loss of $(10.3) million, a 60% improvement year-over-year.Adjusted EBITDA of $(6.4) million, a 24% improvement from Q1 2023 and 68% improvement year-over-year.$197.0 million in cash and cash equivalents as of June 30, 2023.Management Commentary"We had a strong close to the first half of the year, marked by significant improvement in sequential and year-over-year profitability, and remain on track to achieve Adjusted EBITDA breakeven by year end and cash flow breakeven within six months following. This was our fifth consecutive quarter of improvement in Adjusted EBITDA, in-line with our guidance. We experienced notable improvement in gross margin, growing to 18.5% from 2.3% last year, with both hardware and hosted services hitting record highs for the period," said Lucas Haldeman, CEO of SmartRent."We are also pleased to announce we have entered into an agreement with ADI Global Distribution to serve as our preferred distribution partner. This agreement improves our cash position by lowering our inventory levels. ADI will strengthen our competitive position by enhancing our ability to scale while optimizing our cash flow and use of working capital. Our customers will continue to receive products in a timely manner while we remain focused on the innovation and product enhancements that keep us at the forefront of our industry."Story continuesSecond Quarter 2023 ResultsTotal revenue for the quarter was $53.4 million, up 26% from last year. Hardware revenue increased $6.9 million, professional services revenue increased by $0.9 million and hosted services revenue increased by $3.2 million, combining for a $11.0 million increase from Q2 2022. On a sequential basis, hardware revenue was down $9.5 million, along with a decrease in professional services revenue by $2.7 million as the Company deployed a lower number of new units. The Company saw a continued increase in hosted services revenue as our software-as-a-service ("SaaS") revenue grew 8% sequentially, pushing SaaS ARR to $38.8 million, up from $36.0 million last quarter. SaaS ARPU for the quarter was flat at $5.16 from $5.21 in Q1 2023. SaaS ARPU for Units Booked increased to $8.74 from $4.79 last year.Total Units Deployed at the end of the quarter was 650,324, a 44% increase in Total Units Deployed compared to Q2 of 2022, as the Company had 47,768 New Units Deployed during the quarter. Units Booked for the quarter was 19,967, and total Bookings were $31.5 million.Gross profit totaled $9.9 million, up from $1.0 million in Q2 2022. Total gross margin increased to 18.5%, from 2.3% in Q2 2022 as efficiencies and economies of scale drove improved margin.Both hardware and hosted services gross margins hit record highs in the period. Hardware gross margins were 20.9% versus 12.7% in Q1 2023 and a loss last year. Hosted services, which includes both hub amortization and SaaS gross margin, showed steady growth, improving sequentially to 63.2% from 61.6%. Hub revenue amortization decreased while SaaS revenue continued to rise. SaaS gross margins were 75.1% vs. 73.4% last quarter and 50.9% last year. As expected, professional services gross margin decreased to (57.3)% from (38.1)% last quarter and (54.7)% last year, primarily due to a decrease in the number of New Deployed Units. The Company anticipates seeing less volatility in professional services gross margin in future periods as the result of ongoing initiatives. While each quarter is impacted by the mix and timing of deployments, the Company anticipates improvement in both professional services gross margin and total gross margin in the second half of 2023.Operating expenses decreased to $22.0 million from $24.4 million last quarter, a decrease of $2.4 million sequentially and $6.0 million decrease from Q2 2022. The Company achieved efficiencies through improved processes and technology initiatives, resulting in a year-over-year headcount reductions.By simultaneously growing revenue, improving gross margins and reducing operating expenses, Adjusted EBITDA improved significantly to ($6.4) million this quarter versus $(8.5) million in Q1 2023 and $(19.8) million in Q2 2022. The Company continues to execute on its strategy and anticipates achieving Adjusted EBITDA breakeven by year end.The Company ended the quarter with a cash balance of $197.0 million, which is ample liquidity to fund the Company’s anticipated working capital requirements. The cash burn from operating activities in the first six months of 2023, including acquisition-related payments of $7 million, was less than half the cash burn of $34.9 million in the comparable 2022 period. The addition of the ADI distribution agreement should dramatically enhance SmartRent’s cash position as inventory levels decrease in future periods.Key Operating Metrics TableQuarter endedJune 30, 2023June 30, 2022% ChangeTotal Units Deployed(1)650,324451,01044%New Units Deployed47,76860,329(21)%Units Booked19,96759,306(66)%Bookings (in '000s)$31,539$56,887(45)%SaaS ARPU for Units Booked$8.74$4.7982%(1) As of the last date of the quarter.Financial OutlookHiroshi Okamoto, CFO of SmartRent, stated, "We had another solid quarter of revenue growth, expanding margins and narrowing Adjusted EBITDA loss. We believe we can sustain our strong revenue growth and achieve Adjusted EBITDA breakeven by year end."The Company believes it can sustain meaningful top-line growth while narrowing the Adjusted EBITDA loss, although timing differences may lead to some quarter-to-quarter variability. The Company has tightened its full year 2023 guidance to $233 to $250 million from $225 to $250 million in revenue and $(22) to $(18) million from $(25) to $(15) million in Adjusted EBITDA. SmartRent’s guidance for the third quarter, fourth quarter and full-year 2023 is as follows:Third Quarter 2023 GuidanceTotal Revenue of $57 to $62 millionAdjusted EBITDA of $(6.5) to $(4.5) millionFourth Quarter 2023 GuidanceTotal Revenue of $58 to $70 millionAdjusted EBITDA of $0 to $2 millionFull-Year 2023 GuidanceTotal Revenue of $233 to $250 millionAdjusted EBITDA of $(22) to $(18) millionThe estimates presented above represent a range of possible outcomes and may differ materially from actual results. These estimates exclude the impact of potential acquisitions, capital markets activities, and unforeseen continued challenges with supply chain and logistics. The estimates are forward-looking based on the Company’s current assessment of demand for its product, execution capabilities and market conditions, as well as other risks outlined below under the caption "Forward-Looking Statements."Conference Call InformationSmartRent is hosting a conference call today, August 8, 2023 at 12:30p.m. ET to discuss its financial results. To join the call, please register on the Company’s investor relations website here.A second quarter earnings deck is available on the Investor Relations section of our website.About SmartRentFounded in 2017, SmartRent, Inc. (NYSE: SMRT) is a leading provider of smart home and smart property solutions for the multifamily industry. The company’s unmatched platform, comprised of smart hardware and cloud-based SaaS solutions, gives operators seamless visibility and control over real estate assets, empowering them to simplify operations, automate workflows, benefit from additional revenue opportunities and deliver exceptional site team and resident experiences. SmartRent serves 15 of the top 20 multifamily owners and operators, and its solutions enable millions of users to live smarter every day. For more information, please visit www.smartrent.com.Forward-Looking StatementsThis press release contains forward-looking statements which address the Company's expected future business and financial performance, and may contain words such as "goal," "target," "future," "estimate," "expect," "anticipate," "intend," "plan," "believe," "seek," "project," "may," "should," "will" or similar expressions. Examples of forward-looking statements include, among others, statements regarding the expected financial results, product portfolio enhancements, expansion plans and opportunities and earnings guidance related to financial and operational metrics. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those currently anticipated. Some of the factors that could cause actual results to differ materially from those expressed or implied by the forward-looking statements include, among other things, our ability to: (1) execute our business strategy within the smart home technology industry; (2) expand our products and solutions to meet the demands of the market; (3) meet legal obligations, including laws and regulations related to security and privacy; (4) prevent unauthorized or inadvertent access to our information technology systems and customer or resident data; (5) successfully manage the competitiveness of our market and pricing levels of our competitors; (6) hire, retain, manage and motivate employees, including key personnel; (7) successfully manage and ensure that our suppliers produce or obtain quality products and services on a timely basis or in sufficient quantity; (8) successfully manage interruptions to, or other problems with, our website and interactive user interface, information technology systems, manufacturing processes or other operations; (9) successfully identify, acquire, and integrate quality acquisition targets; (10) successfully resolve legal proceedings, recall claims, and governmental inquiries; and (11) acquire and protect our intellectual property and acquire or make investments in other businesses, patents, technologies, products or services to grow the business. The forward-looking statements herein represent the judgment of the Company, as of the date of this release, and SmartRent disclaims any intent or obligation to update forward-looking statements. This press release should be read in conjunction with the information included in the Company's other press releases, reports and other filings with the SEC. Understanding the information contained in these filings is important in order to fully understand the Company's reported financial results and our business outlook for future periods.Use of Non-GAAP Financial MeasuresIn addition to disclosing financial results that are determined in accordance with GAAP, SmartRent also discloses certain non-GAAP financial measures in this press release. These financial measures are not recognized measures under GAAP and should not be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. EBITDA and Adjusted EBITDA are non-GAAP financial measures as defined by SEC rules. These non-GAAP financial measures, as defined below by SmartRent, may be determined or calculated differently by other companies. Reconciliations of these non-GAAP measurements to the most directly comparable GAAP financial measurements have been provided in the financial statement tables included in this press release, and investors are encouraged to review the reconciliations.SmartRent is not providing a quantitative reconciliation of Adjusted EBITDA included in its 2023 financial outlook above, in reliance on the "unreasonable efforts" exception for forward-looking non-GAAP measures set forth in SEC rules because certain financial information, the probable significance of which cannot be determined, is not available and cannot be reasonably estimated without unreasonable effort and expense. In this regard, SmartRent is unable to provide a reconciliation of forward-looking Adjusted EBITDA to GAAP net income, due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation. Due to the uncertainty of estimates and assumptions used in preparing forward-looking non-GAAP measures, SmartRent cautions investors that actual results could differ materially from these non-GAAP financial projections.As detailed in the reconciliations, the GAAP measure most directly comparable to EBITDA and Adjusted EBITDA is net income or loss. EBITDA and Adjusted EBITDA are not used as measures of SmartRent’s liquidity and should not be considered alternatives to net income or loss or any other measure of financial performance presented in accordance with GAAP.SmartRent’s management uses EBITDA and Adjusted EBITDA in a number of ways to assess the Company’s financial and operating performance and believes that these measures provide useful information to investors regarding financial and business trends related to SmartRent’s results of operations. EBITDA and Adjusted EBITDA are also used to identify certain expenses and make decisions designed to help SmartRent meet its current financial goals and optimize its financial performance, while neutralizing the impact of expenses included in its operating results which could otherwise mask underlying trends in its business. SmartRent’s management believes that investors are provided with a more meaningful understanding of SmartRent’s ongoing operating performance when non-GAAP financial information is viewed with GAAP financial information.Operating Metrics DefinedSmartRent regularly monitors several operating and financial metrics including the following non-GAAP financial measures which the Company believes are key measures of its growth, to evaluate its operating performance, identify trends affecting its business, formulate business plans, measure its progress, and make strategic decisions. The Company’s Key Operating Metrics may not provide accurate predictions of future GAAP financial results.Units Deployed is defined as the aggregate number of SmartHubs that have been installed (also including customer self-installations) as of a stated measurement date. The Company uses this operating metric to assess the general health and trajectory of its business growth.New Units Deployed is defined as the aggregate number of SmartHubs that have been installed (also including customer self-installations) during a stated measurement period. The Company uses this operating metric to assess the general health and trajectory of its business growth.Units Booked is defined as the aggregate number of SmartHubs associated with binding orders executed during a stated measurement period. The Company utilizes the concept of Units Booked to measure estimated near-term resource demand and the resulting approximate range of post-delivery revenue that it will earn and record. Units Booked represent binding orders only and accordingly are a subset of Committed Units.Bookings represent the dollar value of Units Booked from hubs and other hardware, professional services, as well as one year of SaaS.Annual Recurring Revenue ("ARR") is defined as the annualized value of our recurring SaaS revenue earned in the current quarter.EBITDA and Adjusted EBITDA: We define EBITDA as net income or loss computed in accordance with GAAP before the following items: interest income/expense, income tax expense and depreciation and amortization. We define Adjusted EBITDA as EBITDA reduced by stock-based compensation expense, non-employee warrant expense, warranty provisions for battery deficiencies, asset impairment, loss on extinguishment of debt, change in fair value of derivatives, unrealized gains and losses in currency exchange rates, non-recurring expenses in connection with acquisitions and other expenses caused by non-recurring, or unusual, events that are not indicative of our ongoing business. Management uses EBITDA and Adjusted EBITDA to identify controllable expenses and make decisions designed to help us meet our current financial goals and optimize our financial performance, while neutralizing the impact of expenses included in our operating results which could otherwise mask underlying trends in our business.SMARTRENT, INC.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS(Unaudited)(in thousands, except per share amounts)For the three months ended June 30,For the six months ended June 30,2023202220232022RevenueHardware$27,788$20,895$65,113$43,009Professional services10,0509,12322,81916,032Hosted services15,56412,39130,54920,727Total revenue53,40242,409118,48179,768Cost of revenueHardware21,99020,95154,56242,809Professional services15,80914,11533,44329,282Hosted services5,7206,35511,47811,433Total cost of revenue43,51941,42199,48383,524Operating expenseResearch and development6,5368,03013,76714,476Sales and marketing4,8296,1399,99011,301General and administrative10,60513,83222,62225,783Total operating expense21,97028,00146,37951,560Loss from operations(12,087)(27,013)(27,381)(55,316)Interest income, net1,8152533,831241Other (expense) income(59)162(3)276Loss before income taxes(10,331)(26,598)(23,553)(54,799)Income tax (expense) benefit(18)1,009(11)5,816Net loss$(10,349)$(25,589)$(23,564)$(48,983)Other comprehensive lossForeign currency translation adjustment(9)(407)95(590)Comprehensive loss$(10,358)$(25,996)$(23,469)$(49,573)Net loss per common shareBasic and diluted$(0.05)$(0.13)$(0.12)$(0.25)Weighted-average number of shares used in computing net loss per shareBasic and diluted199,619195,693198,980194,381SMARTRENT, INC.CONDENSED CONSOLIDATED BALANCE SHEETS(Unaudited)(in thousands, except per share amounts)June 30, 2023December 31, 2022ASSETSCurrent assetsCash and cash equivalents$196,970$210,409Restricted cash, current portion2477,057Accounts receivable, net60,03262,442Inventory60,50675,725Deferred cost of revenue, current portion12,01213,541Prepaid expenses and other current assets16,4389,182Total current assets346,205378,356Property and equipment, net1,7252,069Deferred cost of revenue16,75122,508Goodwill117,268117,268Intangible assets, net29,18531,123Other long-term assets10,3479,521Total assets$521,481$560,845LIABILITIES, CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITYCurrent liabilitiesAccounts payable$6,304$18,360Accrued expenses and other current liabilities21,40334,396Deferred revenue, current portion92,86680,020Total current liabilities120,573132,776Deferred revenue49,97059,928Other long-term liabilities3,7333,941Total liabilities174,276196,645Commitments and contingencies (Note 12)Convertible preferred stock, $0.0001 par value; 50,000 shares authorized as of June 30, 2023 and December 31, 2022; no shares of preferred stock issued and outstanding as of June 30, 2023 and December 31, 2022--Stockholders' equityCommon stock, $0.0001 par value; 500,000 shares authorized as of June 30, 2023 and December 31, 2022, respectively; 200,069 and 198,525 shares issued and outstanding as of June 30, 2023 and December 31, 2022, respectively2020Additional paid-in capital621,755615,281Accumulated deficit(274,489)(250,925)Accumulated other comprehensive loss(81)(176)Total stockholders' equity347,205364,200Total liabilities, convertible preferred stock and stockholders' equity$521,481$560,845SMARTRENT, INC.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited)(in thousands)For the six months ended June 30,20232022CASH FLOWS FROM OPERATING ACTIVITIESNet loss$(23,564)$(48,983)Adjustments to reconcile net loss to net cash used by operating activitiesDepreciation and amortization2,5961,636Non-employee warrant expense-238Non-cash lease expense412648Stock-based compensation related to acquisition109401Stock-based compensation6,8476,945Compensation expense related to acquisition1,7692,109Change in fair value of earnout related to acquisition306-Deferred tax benefit-(5,889)Non-cash interest expense6541Provision for excess and obsolete inventory4716Provision for doubtful accounts(1)-Change in operating assets and liabilitiesAccounts receivable2,4161,493Inventory15,188(26,197)Deferred cost of revenue7,285(6,884)Prepaid expenses and other assets(6,311)5,856Accounts payable(12,059)8,800Accrued expenses and other liabilities(13,201)(3,676)Deferred revenue2,87829,091Lease liabilities(466)(496)Net cash used in operating activities(15,684)(34,851)CASH FLOWS FROM INVESTING ACTIVITIESPayments for SightPlan acquisition, net of cash acquired-(128,953)Purchase of property and equipment(49)(470)Capitalized software costs(2,279)(1,829)Net cash used in investing activities(2,328)(131,252)CASH FLOWS FROM FINANCING ACTIVITIESProceeds from warrant exercise-3Proceeds from options exercise7162Proceeds from ESPP purchases438488Taxes paid related to net share settlements of stock-based compensation awards(1,085)(3,389)Payments for business combination and private offering transaction costs-(70)Payment of earnout related to acquisition(1,702)-Net cash used in financing activities(2,278)(2,906)Effect of exchange rate changes on cash and cash equivalents41(432)Net decrease in cash, cash equivalents, and restricted cash(20,249)(169,441)Cash, cash equivalents, and restricted cash - beginning of period217,713432,604Cash, cash equivalents, and restricted cash - end of period$197,464$263,163Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheetsCash and cash equivalents$196,970$255,008Restricted cash, current portion2477,660Restricted cash, included in other long-term assets247495Total cash, cash equivalents, and restricted cash$197,464$263,163SMARTRENT, INC.RECONCILIATION OF NON-GAAP MEASURESThree months ended June 30,Six months ended June 30,2023202220232022(dollars in thousands)(dollars in thousands)Net loss$(10,349)$(25,589)$(23,564)$(48,983)Interest income, net(1,815)(253)(3,831)(241)Provision for income taxes18(1,009)11(5,816)Depreciation and amortization1,3421,2272,5961,636EBITDA(10,804)(25,624)(24,788)(53,404)Stock-based compensation3,2763,8236,9567,346Non-employee warrant expense-21-238Compensation expense in connection with acquisitions3701,8301,9952,109Severance charges488-488-Other non-recurring acquisition expenses226119431739Adjusted EBITDA$(6,444)$(19,831)$(14,918)$(42,972)View source version on businesswire.com: https://www.businesswire.com/news/home/20230808660057/en/ContactsInvestor Contact Brian RuttenburSenior Vice President, Investor [email protected] Contact Amanda ChavezSenior Director, Corporate [email protected]

Business Wire

SmartRent Reports Second Quarter 2023 Results

https://finance.yahoo.com/news/smartrent-reports-second-quarter-2023-120100054.html

5ee40249-ebd9-3a24-9b5c-c3b7d098d813

SMSI

Smith Micro Software, Inc. (SMSI) came out with a quarterly loss of $0.01 per share versus the Zacks Consensus Estimate of a loss of $0.02. This compares to loss of $0.09 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 50%. A quarter ago, it was expected that this company would post a loss of $0.08 per share when it actually produced a loss of $0.06, delivering a surprise of 25%.Over the last four quarters, the company has surpassed consensus EPS estimates two times.Smith Micro Software, Inc. , which belongs to the Zacks Computer - Software industry, posted revenues of $10.34 million for the quarter ended June 2023, missing the Zacks Consensus Estimate by 3.08%. This compares to year-ago revenues of $12.67 million. The company has topped consensus revenue estimates two times over the last four quarters.The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.Smith Micro Software, Inc. Shares have lost about 44.8% since the beginning of the year versus the S&P 500's gain of 17.2%.What's Next for Smith Micro Software, Inc.While Smith Micro Software, Inc. Has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.Story continuesAhead of this earnings release, the estimate revisions trend for Smith Micro Software, Inc. Mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.01 on $11 million in revenues for the coming quarter and -$0.08 on $43.71 million in revenues for the current fiscal year.Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Computer - Software is currently in the top 32% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.Another stock from the same industry, Canaan (CAN), has yet to report results for the quarter ended June 2023.This cryptocurrency-mining computer maker is expected to post quarterly loss of $0.15 per share in its upcoming report, which represents a year-over-year change of -125%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.Canaan's revenues are expected to be $66.6 million, down 73% from the year-ago quarter.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportSmith Micro Software, Inc. (SMSI) : Free Stock Analysis ReportCanaan Inc. Sponsored ADR (CAN) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Smith Micro Software, Inc. (SMSI) Reports Q2 Loss, Misses Revenue Estimates

https://finance.yahoo.com/news/smith-micro-software-inc-smsi-221509826.html

c71b04b5-b8ab-3707-8936-8c1166cbeb13

SMSI

Enhanced and Improved Family Safety App Available to New and Current SubscribersPITTSBURGH, August 30, 2023--(BUSINESS WIRE)--Smith Micro Software, Inc. (NASDAQ: SMSI) (Smith Micro) today announced that a major U.S. carrier has launched an upgraded version of its family safety application, which now leverages Smith Micro’s flagship SafePath Digital Family Lifestyle™ platform. The launch is a culmination of months of work to deliver all of the app’s functionality via the SafePath platform, paving the way for a unified app experience for consumers, while offering best-in-class digital family safety features."Keeping families safe is at the heart of our SafePath platform and the mission that drives us," said William W. Smith, Jr., president and chief executive officer of Smith Micro. "I am thrilled to announce the launch of an enhanced family safety application built on SafePath by this significant Tier 1 carrier. This represents a considerable milestone for Smith Micro, made possible by our strong collaborative partnership. The enhancements to the product take an already good app to the next level, providing subscribers extensive new features and functionality.""Families are integral to both the carrier and Smith Micro, and it is of paramount importance to offer resources that can help keep them safe in today’s connected world," said Smith. "I am extremely encouraged by the effort and excitement around this launch. SafePath provides leading-edge digital parenting controls and location technology to help families make informed decisions that provide a heightened level of protection in both the digital and physical worlds."About SafePath®Comprised of SafePath Family, SafePath IoT, SafePath Home, and SafePath Drive, the SafePath platform provides comprehensive and easy-to-use tools to protect digital lifestyles and manage connected devices through a single app. As a carrier-grade, white-label solution, SafePath empowers wireless service providers and cable operators to bring to market full-featured, on-brand family safety solutions that provide in-demand services such as location, parental controls, screen time management and driver monitoring to mobile subscribers. Delivered to end users as value-added services, SafePath-based solutions activate new revenue opportunities for service providers while helping to increase brand affinity and reduce subscriber churn. Learn more at smithmicro.com/safepath.Story continuesAbout Smith Micro Software, Inc.Smith Micro develops software to simplify and enhance the mobile experience, providing solutions to some of the leading wireless service providers and cable MSOs around the world. From enabling the family digital lifestyle to providing powerful voice messaging capabilities, our solutions enrich today’s connected lifestyles while creating new opportunities to engage consumers via smartphones and consumer IoT (Internet of Things) devices. The Smith Micro portfolio also includes a wide range of products for creating, sharing, and monetizing rich content, such as visual voice messaging, optimizing retail content display and performing analytics on any product set. For more information, visit www.smithmicro.com.Smith Micro and the Smith Micro logo are registered trademarks or trademarks of Smith Micro Software, Inc. All other trademarks and product names are the property of their respective owners.Forward-Looking StatementsCertain statements in this press release are forward-looking statements regarding future events or results within the meaning of the Private Securities Litigation Reform Act, including statements related to the launch of Smith Micro’s products and services by our customer, other projections of outlook or performance and future business plans, and the benefits that Smith Micro believes our solutions will offer to our customer and to its subscribers, and statements using such words as "expect," "anticipate," "believe," "plan," "intend," "could," "will" and other similar expressions. Forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Among the important factors that could cause or contribute to such differences are the degree to which our customer offers and promotes our products and services or the degree to which its subscribers adopt our products and services in the time period that we expect or at all, our reliance on third party application stores for the distribution of our software applications users and any barriers to such distribution, including any delay or failure of such third party to approve new versions of our applications or their implementation of policies that may be harmful to our business, the impact of the COVID-19 pandemic on our business and financial results, changes in demand for our products from our customers or their end users, changes in requirements for our products imposed by our customers or by the third party providers of software and/or platforms that we use, new and changing technologies and customer acceptance and timing of deployment of those technologies, and our ability to compete effectively with other software and technology companies. These and other factors discussed in our filings with the Securities and Exchange Commission, including our filings on Forms 10-K and 10-Q, could cause actual results to differ materially from those expressed or implied in any forward-looking statements. The forward-looking statements contained in this release are made on the basis of the views and assumptions of management, and we do not undertake any obligation to update these statements to reflect events or circumstances occurring after the date of this release.View source version on businesswire.com: https://www.businesswire.com/news/home/20230830598110/en/ContactsPR INQUIRIES: Paula YurkovichSmith Micro Software+1 (412) [email protected] INQUIRES: Charles MessmanSmith Micro Software+1 (949) [email protected]

Business Wire

U.S. Tier 1 Carrier Launches Upgraded Family Security Application Powered by Smith Micro’s SafePath® Platform

https://finance.yahoo.com/news/u-tier-1-carrier-launches-131500751.html

55118ab0-50f4-3c8c-ac9f-9eb09ad3c809

SNA

Whether it's through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. However, when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a metric that measures a dividend as a percent of the current stock price. Many academic studies show that dividends account for significant portions of long-term returns, with dividend contributions exceeding one-third of total returns in many cases.Snap-On in FocusHeadquartered in Kenosha, Snap-On (SNA) is a Consumer Discretionary stock that has seen a price change of 17.68% so far this year. The tool and diagnostic equipment maker is paying out a dividend of $1.62 per share at the moment, with a dividend yield of 2.41% compared to the Tools - Handheld industry's yield of 0.89% and the S&P 500's yield of 1.65%.Looking at dividend growth, the company's current annualized dividend of $6.48 is up 10.2% from last year. In the past five-year period, Snap-On has increased its dividend 5 times on a year-over-year basis for an average annual increase of 14.52%. Any future dividend growth will depend on both earnings growth and the company's payout ratio; a payout ratio is the proportion of a firm's annual earnings per share that it pays out as a dividend. Right now, Snap-On's payout ratio is 36%, which means it paid out 36% of its trailing 12-month EPS as dividend.SNA is expecting earnings to expand this fiscal year as well. The Zacks Consensus Estimate for 2023 is $18.45 per share, which represents a year-over-year growth rate of 9.69%.Bottom LineInvestors like dividends for many reasons; they greatly improve stock investing profits, decrease overall portfolio risk, and carry tax advantages, among others. However, not all companies offer a quarterly payout.Story continuesBig, established firms that have more secure profits are often seen as the best dividend options, but it's fairly uncommon to see high-growth businesses or tech start-ups offer their stockholders a dividend. Income investors must be conscious of the fact that high-yielding stocks tend to struggle during periods of rising interest rates. With that in mind, SNA is a compelling investment opportunity. Not only is it a strong dividend play, but the stock currently sits at a Zacks Rank of 3 (Hold).Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportSnap-On Incorporated (SNA) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Snap-On (SNA) Could Be a Great Choice

https://finance.yahoo.com/news/snap-sna-could-great-choice-154508821.html

93dd5082-43ee-368b-9daa-0bf326e34ac3

SNA

Key InsightsThe projected fair value for Snap-on is US$318 based on 2 Stage Free Cash Flow to EquityWith US$271 share price, Snap-on appears to be trading close to its estimated fair value The US$264 analyst price target for SNA is 17% less than our estimate of fair valueHow far off is Snap-on Incorporated (NYSE:SNA) from its intrinsic value? Using the most recent financial data, we'll take a look at whether the stock is fairly priced by taking the expected future cash flows and discounting them to today's value. We will take advantage of the Discounted Cash Flow (DCF) model for this purpose. Don't get put off by the jargon, the math behind it is actually quite straightforward.Remember though, that there are many ways to estimate a company's value, and a DCF is just one method. If you want to learn more about discounted cash flow, the rationale behind this calculation can be read in detail in the Simply Wall St analysis model. See our latest analysis for Snap-on The MethodWe're using the 2-stage growth model, which simply means we take in account two stages of company's growth. In the initial period the company may have a higher growth rate and the second stage is usually assumed to have a stable growth rate. To begin with, we have to get estimates of the next ten years of cash flows. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.Generally we assume that a dollar today is more valuable than a dollar in the future, so we need to discount the sum of these future cash flows to arrive at a present value estimate:Story continues10-year free cash flow (FCF) forecast2024202520262027202820292030203120322033 Levered FCF ($, Millions) US$1.04bUS$938.5mUS$965.0mUS$995.0mUS$994.4mUS$1.00bUS$1.01bUS$1.03bUS$1.04bUS$1.06bGrowth Rate Estimate SourceAnalyst x4Analyst x2Analyst x1Analyst x1Est @ -0.06%Est @ 0.60%Est @ 1.06%Est @ 1.39%Est @ 1.62%Est @ 1.78% Present Value ($, Millions) Discounted @ 7.5% US$965US$813US$778US$746US$694US$649US$611US$576US$545US$516("Est" = FCF growth rate estimated by Simply Wall St)Present Value of 10-year Cash Flow (PVCF) = US$6.9bWe now need to calculate the Terminal Value, which accounts for all the future cash flows after this ten year period. For a number of reasons a very conservative growth rate is used that cannot exceed that of a country's GDP growth. In this case we have used the 5-year average of the 10-year government bond yield (2.2%) to estimate future growth. In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 7.5%.Terminal Value (TV)= FCF2033 × (1 + g) ÷ (r – g) = US$1.1b× (1 + 2.2%) ÷ (7.5%– 2.2%) = US$20bPresent Value of Terminal Value (PVTV)= TV / (1 + r)10= US$20b÷ ( 1 + 7.5%)10= US$9.9bThe total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is US$17b. In the final step we divide the equity value by the number of shares outstanding. Relative to the current share price of US$271, the company appears about fair value at a 15% discount to where the stock price trades currently. Remember though, that this is just an approximate valuation, and like any complex formula - garbage in, garbage out.dcfImportant AssumptionsWe would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows. Part of investing is coming up with your own evaluation of a company's future performance, so try the calculation yourself and check your own assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Snap-on as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 7.5%, which is based on a levered beta of 1.063. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.SWOT Analysis for Snap-onStrengthEarnings growth over the past year exceeded its 5-year average.Debt is not viewed as a risk.Dividends are covered by earnings and cash flows.WeaknessEarnings growth over the past year underperformed the Machinery industry.Dividend is low compared to the top 25% of dividend payers in the Machinery market.OpportunityGood value based on P/E ratio and estimated fair value.ThreatAnnual earnings are forecast to decline for the next 3 years.Looking Ahead:Whilst important, the DCF calculation ideally won't be the sole piece of analysis you scrutinize for a company. It's not possible to obtain a foolproof valuation with a DCF model. Preferably you'd apply different cases and assumptions and see how they would impact the company's valuation. If a company grows at a different rate, or if its cost of equity or risk free rate changes sharply, the output can look very different. For Snap-on, we've compiled three relevant items you should explore:Risks: Case in point, we've spotted 1 warning sign for Snap-on you should be aware of.Future Earnings: How does SNA's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with our free analyst growth expectation chart.Other High Quality Alternatives: Do you like a good all-rounder? Explore our interactive list of high quality stocks to get an idea of what else is out there you may be missing!PS. Simply Wall St updates its DCF calculation for every American stock every day, so if you want to find the intrinsic value of any other stock just search here.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

A Look At The Fair Value Of Snap-on Incorporated (NYSE:SNA)

https://finance.yahoo.com/news/look-fair-value-snap-incorporated-114458029.html

fca9ce48-fe1d-35a5-8723-62e030d92b59

SNAX

Stryve Foods, Inc.Sequential Quarterly Net Sales Growth of 29.1%Reduced Sequential Quarterly Adj. EBITDA Loss by 32.3%, New Company RecordRetail Dollar Sales Growth of 34.8% Year-over-Year in Measured ChannelsPLANO, Texas, Aug. 14, 2023 (GLOBE NEWSWIRE) -- Stryve Foods, Inc. (“Stryve” or “the Company”) (NASDAQ: SNAX), an emerging healthy snack and eating platform disrupting traditional consumer packaged goods (CPG) categories, and a leader in the air-dried meat snack industry in the United States, today reports financial and operating results for the three months and six months ended June 30, 2023.Chris Boever, Chief Executive Officer, commented, “In line with our pre-release on July 13th, our net sales sequentially increased 29.1% to $6.0 million for the second quarter. We continue to make significant progress on our transformation to Stryve 2.0 as evidenced by the positive consumer response to our new strategic brand positioning. The most recent 12-week SPINS data reflects meaningful year-over-year improvement in measured channels with dollar sales increasing 34.8%, total distribution points expanding 19.1%, and equivalized price-mix improving 15.8%. These metrics are indicative that our strategy is resonating with consumers and our retail partners.“The progress made to date, reinforced by the positive external metrics, are evidence that our important growth initiatives are working. Additional sales growth, coupled with our rationalized cost structure and productivity agenda, creates operational leverage, and positions us to build a profitable and sustainable business over time. I am excited and confident about our future,” Boever concluded.Alex Hawkins, Chief Financial Officer, said, “Our second quarter results are a product of the progress we have made on our cost mitigation strategies. Our work resulted in a 61.7% year-over-year reduction in our total operating expenses in the second quarter, resulting in a $12.6 million improvement in our operating loss, despite the expected lower, rationalized, sales volume when compared to the prior year period.Story continues“The significant growth our brands have shown in the retail consumption data is a great leading indicator of future growth trends in our sales, we are working off a smaller, rationalized base. In the second half, our volumes will continue to reflect our rationalized base with the timing of that growth impacted by the normalization of retailers’ review cycles in the post-COVID environment. By managing and improving our unit economics, maintaining an optimized spending profile, and seeking to meaningfully grow net sales, we are confident that we can drive further reductions in our net losses moving forward.“We have made investments in our working capital to support the distribution ramp forecasted from continued new distribution. Balancing our cash and liquidity positions, against growing the business, is critical, and we remain committed to this moving forward by managing our working capital, reducing our losses, and prudently utilizing our other sources of liquidity, including our line of credit and recently launched ATM facility.” concluded Hawkins.Second Quarter 2023 Highlights Net sales of $6.0 million, compared to $10.9 million in the year-ago quarter. Net sales declined primarily due to the Company’s discontinuation of non-profitable accounts, rationalization of low-quality revenue, which included the discontinuation of slow-moving and margin losing items.Gross profit of $1.1 million, or 17.5% of net sales, compared to negative gross profit of ($4.4) million in the 2022 quarter. Improvements reflect strategic pricing and sourcing efforts, as well as the elimination of low-quality revenue and non-profitable accounts.Operating loss of ($3.4) million, compared to operating loss of ($16.0) million in the 2022 second quarter.Announced a 1-for-15 reverse stock split of the Company’s issues and outstanding Class A and Class V common stock that was effective July 14, 2023.Interest expense of $1.0 million for the 2023 second quarter includes approximately $0.4 million of non-cash interest expense related to the accounting treatment of the warrants connected to the promissory notes issued on April 19, 2023.Net loss of ($4.3) million, or ($2.05) per share, compared to a net loss of ($16.4) million, or ($7.93) per share, in the 2022 second quarter.Adjusted loss per share of ($1.66) 1 for the second quarter of 2023, which compares favorably to adjusted loss per share of ($5.85) for the year-ago period.Adjusted EBITDA loss1 of ($2.4) million for the 2023 second quarter, compared to ($11.4) million in the prior year quarter.First Six Months 2023 Highlights Net sales of $10.6 million, compared to $18.4 million in the year-ago quarter. Net sales declined primarily due to the Company’s discontinuation of non-profitable accounts, rationalization of low-quality revenue, which included the discontinuation of slow-moving and lower margin items.Gross profit of $2.0 million, or 18.9% of net sales, compared to negative gross profit of ($3.3) million in the 2022 period.Operating loss of ($7.6) million, compared to operating loss of ($23.1) million in the 2022 period.Interest expense of $1.4 million for the 2023 first half includes approximately $0.4 million of non-cash interest expense related to the accounting treatment of the warrants connected to the promissory notes issued on April 19, 2023.Net loss of ($9.0) million, or ($4.27) per share, compared to a net loss of ($23.7) million, or ($11.70) per share, in the 2022 six-month period.Adjusted loss per share of ($3.80) 1 for the six months of 2023, which compares favorably to adjusted loss per share of ($9.38) for the year-ago period.Adjusted EBITDA loss1 of ($5.9) million for the 2023 six months, compared to ($17.6) million in the prior year period.1 Adjusted EBITDA and adjusted loss per share are a non-GAAP financial measure as defined and reconciled to GAAP below.Conference Call The Company will conduct a conference call today at 4:30 p.m. Eastern Time to discuss financial and operating results for the second quarter ended June 30, 2023. To access the call live by phone, dial (888) 349-0091 or (412) 902-4234 and ask for the Stryve Foods call at least 10 minutes prior to the start time. A telephonic replay will be available through August 28, 2023, by calling (844) 512-2921 or (412) 317-6671 and using passcode ID:10181547. A webcast of the call will also be available live and for later replay on the Company’s Investor Relations website at https://ir.stryve.com/news-events.About Stryve Foods, Inc.Stryve is a premium air-dried meat snack company that is conquering the intersection of high protein, great taste, and health under the brands of Braaitime, Kalahari, Stryve, and Vacadillos. Stryve sells highly differentiated healthy snacking and food products in order to disrupt traditional snacking and CPG categories. Stryve’s mission is “to help Americans eat better and live happier, better lives.” Stryve offers convenient products that are lower in sugar and carbohydrates and higher in protein than other snacks and foods. Stryve’s current product portfolio consists primarily of air-dried meat snack products marketed under the Stryve®, Kalahari®, Braaitime®, and Vacadillos® brand names. Unlike beef jerky, Stryve’s all-natural air-dried meat snack products are made of beef and spices, are never cooked, contain zero grams of sugar*, and are free of monosodium glutamate (MSG), gluten, nitrates, nitrites, and preservatives. As a result, Stryve’s products are Keto and Paleo diet friendly. Further, based on protein density and sugar content, Stryve believes that its air-dried meat snack products are some of the healthiest shelf-stable snacks available today. Stryve also markets and sells human-grade pet treats under the brand Two Tails, made with simple, all-natural ingredients and 100% real beef with no fillers, preservatives, or by-products.Stryve distributes its products in major retail channels, primarily in North America, including grocery, club stores and other retail outlets, as well as directly to consumers through its ecommerce websites and through the Amazon platform. For more information about Stryve, visit www.stryve.com or follow us on social media at @stryvebiltong.* All Stryve Biltong and Vacadillos products contain zero grams of added sugar, with the exception of the Chipotle Honey flavor of Vacadillos, which contains one gram of sugar per serving.Cautionary Note Regarding Forward-Looking StatementsCertain statements made herein are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “may”, “will”, “would”, “could”, “intend”, “aim”, “believe”, “anticipate”, “continue”, “target”, “milestone”, “expect”, “estimate”, “plan”, “outlook”, “objective”, “guidance” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters, including, but not limited to, statements regarding Stryve’s plans, strategies, objectives, targets and expected financial performance. These forward-looking statements reflect Stryve’s current views and analysis of information currently available. This information is, where applicable, based on estimates, assumptions and analysis that Stryve believes, as of the date hereof, provide a reasonable basis for the information and statements contained herein. These forward-looking statements involve various known and unknown risks, uncertainties and other factors, many of which are outside the control of Stryve and its officers, employees, agents and associates. These risks, uncertainties, assumptions and other important factors, which could cause actual results to differ materially from those described in these forward-looking statements, include: (i) the inability to achieve profitability due to commodity prices, inflation, supply chain interruption, transportation costs and/or labor shortages; (ii) the ability to recognize the anticipated benefits of the Business Combination or meet financial and strategic goals, which may be affected by, among other things, competition, supply chain interruptions, the ability to pursue a growth strategy and manage growth profitability, maintain relationships with customers, suppliers and retailers and retain its management and key employees; (iii) the risk that retailers will choose to limit or decrease the number of retail locations in which Stryve’s products are carried or will choose not to carry or not to continue to carry Stryve’s products; (iv) the possibility that Stryve may be adversely affected by other economic, business, and/or competitive factors; (v) the effect of the COVID-19 pandemic on Stryve; (vi) the possibility that Stryve may not achieve its financial outlook; (vii) risks around the Company’s ability to continue as a going concern and (viii) other risks and uncertainties described in the Company’s public filings with the SEC. Actual results, performance or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions on which those projections and forward-looking statements are based.Investor Relations Contact:Three Part Advisors, LLCSandy Martin or Phillip [email protected] or [email protected] or 817-778-8339-Financial Statements Follow- Stryve Foods, Inc.Condensed Consolidated Statement of Operations(In thousands, except share and per share data)           For The Three Months Ended June 30, For The Six Months Ended June 30,      2023   2022   2023   2022   (unaudited) (unaudited)         SALES, net $5,997  $10,946  $10,643  $18,367          COST OF GOODS SOLD (exclusive of depreciation shown separately below)  4,946   15,371   8,629   21,668          GROSS PROFIT  1,051   (4,425)  2,014   (3,301)         OPERATING EXPENSES        Selling expenses  1,779   4,717   3,748   8,743 Operations expense  625   1,349   1,139   2,580 Salaries and wages  1,469   3,510   3,632   6,096 Depreciation and amortization expense  552   503   1,104   948 Prepaid media reserve  -   1,489   -   1,489 (Gain) loss on disposal of fixed assets  1   (24)  1   (24)Total operating expenses  4,426   11,544   9,624   19,832          OPERATING LOSS  (3,375)  (15,969)  (7,610)  (23,133)         OTHER (EXPENSE) INCOME        Interest expense  (964)  (181)  (1,363)  (369)Change in fair value of Private Warrants  10   40   19   85 Other expense  7   (215)  (7)  (215)Total other (expense) income  (947)  (356)  (1,351)  (499)         NET LOSS BEFORE INCOME TAXES  (4,322)  (16,325)  (8,961)  (23,632)         Income tax (benefit) expense  (13)  29   (10)  36          NET LOSS $(4,309) $(16,354) $(8,951) $(23,668)         Loss per common share:        Basic and diluted $(2.05) $(7.93) $(4.27) $(11.70)         Weighted average shares outstanding:        Basic and diluted  2,105,620   2,063,099   2,095,621   2,023,713           Stryve Foods, Inc.Condensed Consolidated Balance Sheets (in thousands)       June 30, December 31,   2023   2022   (unaudited) (audited)ASSETS    CURRENT ASSETS    Cash and cash equivalent $320  $623 Accounts receivable, net  2,973   2,489 Inventory, net  8,351   8,259 Prepaid expenses and other current assets  1,072   1,551 Total current assets  12,716   12,922      Property and equipment, net  7,897   8,817 Right of use asset, net  4,813   5,010 Goodwill  8,450   8,450 Intangible asset, net  4,241   4,362 TOTAL ASSETS $38,117  $39,561      LIABILITIES AND STOCKHOLDERS' EQUITY    CURRENT LIABILITIES    Accounts payable $4,512  $3,010 Accrued expenses  1,816   1,728 Current portion of lease liability  338   328 Line of credit, net of debt issuance costs  882   1,046 Promissory notes payable, net of debt discount and debt issuance costs  2,246   - Promissory notes payable due to related parties, net of debt discount and debt issuance costs  855   - Current portion of long-term debt and other short-term borrowings  273   969 Total current liabilities  10,922   7,081      Long-term debt, net of current portion, net of debt issuance costs  5,605   3,697 Lease liability, net of current portion  4,558   4,734 Financing obligation - related party operating lease  7,500   7,500 Deferred tax liability, net  2   2 Deferred stock compensation liability  168   90 Warrant liability  2   21 TOTAL LIABILITIES  28,757   23,125      COMMITMENTS AND CONTINGENCIES    STOCKHOLDERS' EQUITY    Preferred stock - $0.0001 par value, 10,000,000 shares authorized, 0 shares issued and outstanding  -   - Class A common stock - $0.0001 par value, 400,000,000 shares authorized, 1,757,588 and 1,715,186 shares issued and outstanding, respectively  -   - Class V common stock - $0.0001 par value, 15,000,000 shares authorized, 405,313 and 419,974 shares issued and outstanding  -   - Additional paid-in-capital  135,563   133,688 Accumulated deficit  (126,203)  (117,252)TOTAL STOCKHOLDERS' EQUITY  9,360   16,436      TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $38,117  $39,561       Stryve Foods, Inc.Condensed Consolidated Statement of Cash Flows(In thousands)  For The Six Months Ended June 30,     2023   2022   (unaudited)     CASH FLOWS FROM OPERATING ACTIVITIES    Net loss $(8,951) $(23,668)Adjustments to reconcile net loss to net cash used in operating activities:    Depreciation expense  983   827 Amortization of intangible assets  121   121 Amortization of debt issuance costs  124   - Amortization of debt discount  387   - Amortization of right-of-use asset  197   98 (Gain) loss on disposal of fixed assets  1   (24)Prepaid media reserve  -   1,489 Bad debt expense  80   289 Stock based compensation expense  618   712 Change in fair value of Private Warrants  (19)  (85)Changes in operating assets and liabilities:    Accounts receivable  (564)  (1,644)Inventory  (93)  563 Vendor deposits  -   4 Prepaid media spend  -   46 Prepaid expenses and other current assets  479   566 Accounts payable  1,502   (540)Accrued liabilities  88   933 Operating lease obligations  (166)  (65)Net cash used in operating activities $(5,213) $(20,378)     CASH FLOWS FROM INVESTING ACTIVITIES    Cash paid for purchase of equipment  (64)  (2,033)Cash received for sale of equipment  -   41 Net cash used in investing activities $(64) $(1,992)     CASH FLOWS FROM FINANCING ACTIVITIES    PIPE capital raise  -   32,311 Post closing adjustment of Business Combination Agreement  -   (238)Repayments on long-term debt  (76)  (4,909)Borrowings on related party debt  1,175   - Borrowings on short-term debt  12,967   - Repayments on short-term debt  (8,877)  (2,000)Debt issuance costs  (176)  - Deferred offering costs  (39)  - Net cash provided by financing activities $4,974  $25,164      Net change in cash and cash equivalents  (303)  2,794 Cash and cash equivalents at beginning of period  623   2,217 Cash and cash equivalents at end of period $320  $5,011      SUPPLEMENTAL INFORMATION:    Cash paid for interest $755  $403 NON-CASH INVESTING AND FINANCING ACTIVITY:    Non-cash commercial premium finance borrowing $291  $- Issuance of warrants in connection with debt instrument $1,375  $-      Reconciliation of GAAP to Non-GAAP InformationStryve uses non-GAAP financial information and believes it is useful to investors as it provides additional information to facilitate comparisons of historical operating results, identify trends in operating results, and provide additional insight on how the management team evaluates the business. Stryve’s management team uses EBITDA, Adjusted EBITDA, and Adjusted Earnings Per Share to make operating and strategic decisions, evaluate performance and comply with indebtedness related reporting requirements. Below are details on this non-GAAP measure and the non-GAAP adjustments that the management team makes in the definition of EBITDA, Adjusted EBITDA and Adjusted Earnings Per Share. Stryve believes this non-GAAP measure should be considered along with net income (loss), the most closely related GAAP financial measure. A reconciliation between EBITDA and net income (loss) is below:                    For The Three Months Ended June 30, For The Six Months Ended June 30,      2023   2022   2023   2022 (In thousands) (unaudited) (unaudited)         Net loss before income taxes $(4,322) $(16,326) $(8,961) $(23,632)Interest expense  964   181   1,363   369 Depreciation and amortization expense  552   503   1,104   948 EBITDA $ (2,806) $ (15,642) $ (6,494) $ (22,315)Additional Adjustments:        Severances and One-Time Employee Related Costs  -   1,346   -   1,425 One-Time Reserves and Write Downs  -   2,562   -   2,562 Stock Based Compensation Expense  432   384   618   712 Adjusted EBITDA $ (2,374) $ (11,350) $ (5,876) $ (17,616)                             For The Three Months Ended June 30, For The Six Months Ended June 30,   (In thousands except share and per share information)  2023   2022   2023   2022          Net loss $(4,309) $(16,354) $(8,951) $(23,668)Weighted average shares outstanding  2,105,620   2,063,099   2,095,621   2,023,713 Basic & Diluted Net Loss per Share $ (2.05) $ (7.93) $ (4.27) $ (11.70)Additional Adjustments:        Severances and One-Time Employee Related Costs  -   0.65   -   0.70 One-Time Reserves and Write Downs  -   1.24   -   1.27 Stock Based Compensation Expense  0.21   0.19   0.29   0.35 Non-Cash Interest Attributable to Warrants Issued in Connection with Notes  0.18   -   0.18   - Adjusted Earnings per Share $ (1.66) $ (5.85) $ (3.80) $ (9.38) 

GlobeNewswire

Stryve Foods, Inc. Reports Second Quarter Fiscal 2023 Results

https://finance.yahoo.com/news/stryve-foods-inc-reports-second-200100002.html

08495fe9-be2a-369d-8928-3fea75ae0070

SNAX

Stryve Foods, Inc.DALLAS, Sept. 07, 2023 (GLOBE NEWSWIRE) -- Stryve Foods, Inc. (“Stryve” or “the Company”) (NASDAQ: SNAX), an emerging healthy snacking platform disrupting traditional consumer packaged goods (CPG) categories and a leader in the air-dried meat snack industry in the United States, today announced it will be featured as a presenting company at the H.C. Wainwright 25th Annual Global Investment Conference which is being hosted by H.C. Wainwright & Co. from September 11th through the 13th.The in-person venue for the event is the Lotte New York Palace Hotel in New York City located at 455 Madison Avenue. Virtual participation will be staged simultaneously with over 550 company presentations scheduled as live feed or available on-demand.Stryve’s Chief Executive Officer, Chris Boever, and Chief Financial Officer, Alex Hawkins, will be conducting a virtual company presentation and hosting one-on-one investor meetings in-person at the conference.If you are an institutional investor, and would like to listen to the Company’s presentation, please click on the following link (www.hcwevents.com/annualconference) to register for the conference. Over 550 corporate presentations & panels are available during September 11th-13th, 2023.Event: H.C. Wainwright 25th Annual Global Investment ConferenceDate: September 11th-13th, 2023Time: 7:00 A.M. (Eastern Time)Location: Virtual to start on-demand on September 11th at 7:00 A.M. (ET) or in-person at the Lotte New York Palace Hotel, New York, NY.About Stryve Foods, Inc.  Stryve is a premium air-dried meat snack company that is conquering the intersection of high protein, great taste, and health under the brands of Braaitime, Kalahari, Stryve, and Vacadillos is a healthy snacking and food company that manufactures, markets and sells highly differentiated healthy snacking and food products that is planned to disrupt traditional snacking and CPG categories. Stryve’s mission is “to help Americans eat better and live happier, better lives.” Stryve offers convenient products that are lower in sugar and carbohydrates and higher in protein than other snacks and foods. Stryve’s current product portfolio consists primarily of air-dried meat snack products marketed under the Stryve®, Kalahari®, Braaitime®, and Vacadillos® brand names. Unlike beef jerky, Stryve’s all-natural air-dried meat snack products are made of beef and spices, are never cooked, contain zero grams of sugar*, and are free of monosodium glutamate (MSG), gluten, nitrates, nitrites, and preservatives. As a result, Stryve’s products are Keto and Paleo diet friendly. Further, based on protein density and sugar content, Stryve believes that its air-dried meat snack products are some of the healthiest shelf-stable snacks available today. Stryve also markets and sells human-grade pet treats under the brand Two Tails, made with simple, all-natural ingredients and 100% real beef with no fillers, preservatives, or by-products.Story continuesStryve distributes its products in major retail channels, primarily in North America, including grocery, club stores and other retail outlets, as well as directly to consumers through its ecommerce websites and through the Amazon platform. For more information about Stryve, visit www.stryve.com or follow us on social media at @stryvebiltong.* All Stryve air-dried products contain zero grams of added sugar, with the exception of the Chipotle Honey flavor of Vacadillos, which contains one gram of sugar per serving.Cautionary Note Regarding Forward-Looking StatementsCertain statements made herein are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “may”, “will”, “would”, “could”, “intend”, “aim”, “believe”, “anticipate”, “continue”, “target”, “milestone”, “expect”, “estimate”, “plan”, “outlook”, “objective”, “guidance” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters, including, but not limited to, statements regarding Stryve’s plans, strategies, objectives, targets and expected financial performance. These forward-looking statements reflect Stryve’s current views and analysis of information currently available. This information is, where applicable, based on estimates, assumptions and analysis that Stryve believes, as of the date hereof, provide a reasonable basis for the information and statements contained herein. These forward-looking statements involve various known and unknown risks, uncertainties and other factors, many of which are outside the control of Stryve and its officers, employees, agents and associates. These risks, uncertainties, assumptions and other important factors, which could cause actual results to differ materially from those described in these forward-looking statements, include: (i) the inability to achieve profitability due to commodity prices, inflation, supply chain interruption, transportation costs and/or labor shortages; (ii) the ability to recognize the anticipated benefits of the Business Combination or meet financial and strategic goals, which may be affected by, among other things, competition, supply chain interruptions, the ability to pursue a growth strategy and manage growth profitability, maintain relationships with customers, suppliers and retailers and retain its management and key employees; (iii) the risk that retailers will choose to limit or decrease the number of retail locations in which Stryve’s products are carried or will choose not to carry or not to continue to carry Stryve’s products; (iv) the possibility that Stryve may be adversely affected by other economic, business, and/or competitive factors; (v) the effect of the COVID-19 pandemic on Stryve; (vi) the possibility that Stryve may not achieve its financial outlook; (vii) risks around the Company’s ability to continue as a going concern and (viii) other risks and uncertainties described in the Company’s public filings with the SEC. Actual results, performance or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions on which those projections and forward-looking statements are based.About H.C. Wainwright & Co.H.C. Wainwright is a full‐service investment bank dedicated to providing corporate finance, strategic advisory and related services to public and private companies across multiple sectors and regions.  H.C. Wainwright & Co. also provides research and sales and trading services to institutional investors. According to Sagient Research Systems, H.C. Wainwright’s team is ranked as the #1 Placement Agent in terms of aggregate CMPO (confidentially marketed public offering), RD (registered direct offering) and PIPE (private investment in public equity) executed cumulatively since 1998.For more information visit H.C. Wainwright & Co. on the web at www.hcwco.comCONTACT: Contact: Alex Hawkins  Email: [email protected]

GlobeNewswire

Stryve Foods, Inc. to Host 1x1 Meetings and Present at the H.C. Wainwright 25th Annual Global Investment Conference - September 11th-13th, 2023

https://finance.yahoo.com/news/stryve-foods-inc-host-1x1-121500586.html

f53f7aef-607a-358d-8204-8a3bda47bcb1

SNBR

From what we can see, insiders were net buyers in Sleep Number Corporation's (NASDAQ:SNBR ) during the past 12 months. That is, insiders acquired the stock in greater numbers than they sold it.Although we don't think shareholders should simply follow insider transactions, we do think it is perfectly logical to keep tabs on what insiders are doing. See our latest analysis for Sleep Number Sleep Number Insider Transactions Over The Last YearOver the last year, we can see that the biggest insider purchase was by insider Julie Howard for US$171k worth of shares, at about US$26.31 per share. That means that even when the share price was higher than US$25.06 (the recent price), an insider wanted to purchase shares. Their view may have changed since then, but at least it shows they felt optimistic at the time. We always take careful note of the price insiders pay when purchasing shares. As a general rule, we feel more positive about a stock when an insider has bought shares at above current prices, because that suggests they viewed the stock as good value, even at a higher price. Julie Howard was the only individual insider to buy during the last year.The chart below shows insider transactions (by companies and individuals) over the last year. By clicking on the graph below, you can see the precise details of each insider transaction!insider-trading-volumeSleep Number is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.Insider OwnershipMany investors like to check how much of a company is owned by insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. It appears that Sleep Number insiders own 4.5% of the company, worth about US$25m. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.What Might The Insider Transactions At Sleep Number Tell Us?There haven't been any insider transactions in the last three months -- that doesn't mean much. But insiders have shown more of an appetite for the stock, over the last year. Insiders do have a stake in Sleep Number and their transactions don't cause us concern. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. Our analysis shows 4 warning signs for Sleep Number (2 shouldn't be ignored!) and we strongly recommend you look at them before investing.Story continuesOf course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

This Sleep Number Insider Increased Their Holding By 133% Last Year

https://finance.yahoo.com/news/sleep-number-insider-increased-holding-143847185.html

d7ac31d5-8838-312e-9210-08872065d07c

SNBR

Activists file with the SEC on Sleep Number, Newell Brands, Donnelley Financial Solutions, and AlkermesContinue reading

Barrons.com

Sleep Number, Newell Brands, and More Stocks See Action From Activist Investors

https://finance.yahoo.com/m/364ce8c6-95e1-3217-9622-65715a06adac/sleep-number-newell-brands-.html

364ce8c6-95e1-3217-9622-65715a06adac

SNCR

Key InsightsSynchronoss Technologies' estimated fair value is US$1.81 based on 2 Stage Free Cash Flow to EquityCurrent share price of US$1.01 suggests Synchronoss Technologies is potentially 44% undervalued The US$2.83 analyst price target for SNCR is 57% more than our estimate of fair valueIn this article we are going to estimate the intrinsic value of Synchronoss Technologies, Inc. (NASDAQ:SNCR) by taking the forecast future cash flows of the company and discounting them back to today's value. This will be done using the Discounted Cash Flow (DCF) model. Before you think you won't be able to understand it, just read on! It's actually much less complex than you'd imagine.Remember though, that there are many ways to estimate a company's value, and a DCF is just one method. If you want to learn more about discounted cash flow, the rationale behind this calculation can be read in detail in the Simply Wall St analysis model. See our latest analysis for Synchronoss Technologies The CalculationWe're using the 2-stage growth model, which simply means we take in account two stages of company's growth. In the initial period the company may have a higher growth rate and the second stage is usually assumed to have a stable growth rate. In the first stage we need to estimate the cash flows to the business over the next ten years. Seeing as no analyst estimates of free cash flow are available to us, we have extrapolate the previous free cash flow (FCF) from the company's last reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.Generally we assume that a dollar today is more valuable than a dollar in the future, and so the sum of these future cash flows is then discounted to today's value:Story continues10-year free cash flow (FCF) estimate2024202520262027202820292030203120322033 Levered FCF ($, Millions) US$6.44mUS$8.98mUS$11.5mUS$13.9mUS$16.0mUS$17.7mUS$19.2mUS$20.5mUS$21.6mUS$22.5mGrowth Rate Estimate SourceEst @ 55.48%Est @ 39.48%Est @ 28.28%Est @ 20.44%Est @ 14.95%Est @ 11.11%Est @ 8.42%Est @ 6.54%Est @ 5.22%Est @ 4.30% Present Value ($, Millions) Discounted @ 12% US$5.8US$7.2US$8.2US$8.8US$9.1US$9.0US$8.7US$8.3US$7.8US$7.3("Est" = FCF growth rate estimated by Simply Wall St)Present Value of 10-year Cash Flow (PVCF) = US$80mWe now need to calculate the Terminal Value, which accounts for all the future cash flows after this ten year period. For a number of reasons a very conservative growth rate is used that cannot exceed that of a country's GDP growth. In this case we have used the 5-year average of the 10-year government bond yield (2.2%) to estimate future growth. In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 12%.Terminal Value (TV)= FCF2033 × (1 + g) ÷ (r – g) = US$22m× (1 + 2.2%) ÷ (12%– 2.2%) = US$235mPresent Value of Terminal Value (PVTV)= TV / (1 + r)10= US$235m÷ ( 1 + 12%)10= US$76mThe total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is US$157m. To get the intrinsic value per share, we divide this by the total number of shares outstanding. Relative to the current share price of US$1.0, the company appears quite undervalued at a 44% discount to where the stock price trades currently. Valuations are imprecise instruments though, rather like a telescope - move a few degrees and end up in a different galaxy. Do keep this in mind.dcfThe AssumptionsWe would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows. If you don't agree with these result, have a go at the calculation yourself and play with the assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Synchronoss Technologies as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 12%, which is based on a levered beta of 1.953. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.Looking Ahead:Although the valuation of a company is important, it is only one of many factors that you need to assess for a company. It's not possible to obtain a foolproof valuation with a DCF model. Preferably you'd apply different cases and assumptions and see how they would impact the company's valuation. If a company grows at a different rate, or if its cost of equity or risk free rate changes sharply, the output can look very different. Why is the intrinsic value higher than the current share price? For Synchronoss Technologies, there are three additional items you should further research:Risks: Consider for instance, the ever-present spectre of investment risk. We've identified 2 warning signs with Synchronoss Technologies , and understanding them should be part of your investment process.Future Earnings: How does SNCR's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with our free analyst growth expectation chart.Other High Quality Alternatives: Do you like a good all-rounder? Explore our interactive list of high quality stocks to get an idea of what else is out there you may be missing!PS. Simply Wall St updates its DCF calculation for every American stock every day, so if you want to find the intrinsic value of any other stock just search here.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Synchronoss Technologies, Inc. (NASDAQ:SNCR) Shares Could Be 44% Below Their Intrinsic Value Estimate

https://finance.yahoo.com/news/synchronoss-technologies-inc-nasdaq-sncr-125607186.html

245d6d28-ab16-34cf-983c-12665325b111

SNCR

180 Degree Capital Corp., an investment management firm, recently released its second quarter 2023 investor letter. A copy of the same can be downloaded here. The quarter was rough for the portfolio, which lost 5.8% compared to a 5.3% increase for the Russell Microcap Index. In addition, please check the fund’s top five holdings to know its best picks in 2023.180 Degree Capital highlighted stocks like Synchronoss Technologies, Inc. (NASDAQ:SNCR) in the second quarter 2023 investor letter. Headquartered in Bridgewater, New Jersey, Synchronoss Technologies, Inc. (NASDAQ:SNCR) offers cloud, messaging, digital, and network management solutions. On August 17, 2023, Synchronoss Technologies, Inc. (NASDAQ:SNCR) stock closed at $1.0300 per share. One-month return of Synchronoss Technologies, Inc. (NASDAQ:SNCR) was 3.03%, and its shares lost 39.05% of their value over the last 52 weeks. Synchronoss Technologies, Inc. (NASDAQ:SNCR) has a market capitalization of $96.295 million.180 Degree Capital made the following comment about Synchronoss Technologies, Inc. (NASDAQ:SNCR) in its second quarter 2023 investor letter:“We believe we have a group of highly valuable, and yet low valued businesses that are struggling to generate performance on a day-in-day-out basis. I am convinced better days are ahead for our companies and that the activism we have done (some external and some internal) will reap rewards over time. I talked above about how in this market, many of our stocks have not moved in lockstep with their improving fundamentals.Take Synchronoss Technologies, Inc. (NASDAQ:SNCR) for example. We helped the company fix its balance sheet two years ago at a much higher price by replacing a very expensive perpetual preferred stock that limited the company’s flexibility to streamline its business with materially lower cost for financing and equity. Since then: 1. Management has run a much better business, achieving EBITDA estimates consistently higher than consensus analyst projections. Result: SNCR’s stock goes down…” (Click here to read the full text)Story continuesTop 10 High Growth Stocks To Buy abstract, background, blue, blur, blurred, blurry, bokeh, building, business, businessman, cell phone, cellphone, chart, city, cloud, cloud computing, computer, computing, concept, defocus, display, filter, filtered, flow, graphic, hand, icon, illustration, internet, laptop, light, mail, media, men, mobile, network, networking, night, pc, people, phone, point, pointing, positive, shiny, smart phone, tablet, tech, technology, touchCopyright: melpomen / 123RF Stock PhotoSynchronoss Technologies, Inc. (NASDAQ:SNCR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 5 hedge fund portfolios held Synchronoss Technologies, Inc. (NASDAQ:SNCR) at the end of second quarter which was 5 in the previous quarter.We discussed Synchronoss Technologies, Inc. (NASDAQ:SNCR) in another article and shared 180 Degree Capital Corp.'s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.Suggested Articles:30 Countries With The Highest Percentage of College Graduates11 Most Undervalued Bank Stocks To Buy According To Wall Street Analysts11 Best Biotech Penny Stocks to Buy NowDisclosure: None. This article is originally published at Insider Monkey.

Insider Monkey

Should You Invest in Synchronoss Technologies (SNCR)?

https://finance.yahoo.com/news/invest-synchronoss-technologies-sncr-065511642.html

6e708b2c-0acf-3969-b286-1b18aee7fead

SNCY

Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY), might not be a large cap stock, but it received a lot of attention from a substantial price movement on the NASDAQGS over the last few months, increasing to US$23.27 at one point, and dropping to the lows of US$14.52. Some share price movements can give investors a better opportunity to enter into the stock, and potentially buy at a lower price. A question to answer is whether Sun Country Airlines Holdings' current trading price of US$14.69 reflective of the actual value of the small-cap? Or is it currently undervalued, providing us with the opportunity to buy? Let’s take a look at Sun Country Airlines Holdings’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change. Check out our latest analysis for Sun Country Airlines Holdings What Is Sun Country Airlines Holdings Worth?The share price seems sensible at the moment according to my price multiple model, where I compare the company's price-to-earnings ratio to the industry average. I’ve used the price-to-earnings ratio in this instance because there’s not enough visibility to forecast its cash flows. The stock’s ratio of 10.7x is currently trading slightly below its industry peers’ ratio of 11.36x, which means if you buy Sun Country Airlines Holdings today, you’d be paying a reasonable price for it. And if you believe that Sun Country Airlines Holdings should be trading at this level in the long run, then there’s not much of an upside to gain over and above other industry peers. Although, there may be an opportunity to buy in the future. This is because Sun Country Airlines Holdings’s beta (a measure of share price volatility) is high, meaning its price movements will be exaggerated relative to the rest of the market. If the market is bearish, the company’s shares will likely fall by more than the rest of the market, providing a prime buying opportunity.Can we expect growth from Sun Country Airlines Holdings?earnings-and-revenue-growthFuture outlook is an important aspect when you’re looking at buying a stock, especially if you are an investor looking for growth in your portfolio. Buying a great company with a robust outlook at a cheap price is always a good investment, so let’s also take a look at the company's future expectations. With profit expected to grow by 61% over the next couple of years, the future seems bright for Sun Country Airlines Holdings. It looks like higher cash flow is on the cards for the stock, which should feed into a higher share valuation.Story continuesWhat This Means For YouAre you a shareholder? It seems like the market has already priced in SNCY’s positive outlook, with shares trading around industry price multiples. However, there are also other important factors which we haven’t considered today, such as the track record of its management team. Have these factors changed since the last time you looked at SNCY? Will you have enough confidence to invest in the company should the price drop below the industry PE ratio?Are you a potential investor? If you’ve been keeping an eye on SNCY, now may not be the most optimal time to buy, given it is trading around industry price multiples. However, the positive outlook is encouraging for SNCY, which means it’s worth further examining other factors such as the strength of its balance sheet, in order to take advantage of the next price drop.So while earnings quality is important, it's equally important to consider the risks facing Sun Country Airlines Holdings at this point in time. For example, we've found that Sun Country Airlines Holdings has 2 warning signs (1 is concerning!) that deserve your attention before going any further with your analysis.If you are no longer interested in Sun Country Airlines Holdings, you can use our free platform to see our list of over 50 other stocks with a high growth potential.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Is There Now An Opportunity In Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY)?

https://finance.yahoo.com/news/now-opportunity-sun-country-airlines-120908843.html

d8d679f8-2df8-36ca-b802-e9e718ecc533

SNCY

Sun Country AirlinesMINNEAPOLIS, Aug. 30, 2023 (GLOBE NEWSWIRE) -- Sun Country Airlines (NASDAQ: SNCY) Chief Executive Officer Jude Bricker will participate in a fireside chat at the TD Cowen Global Transportation Conference on Wednesday, September 6 at 10:55AM EST.A link to the live webcast can be found on the Sun Country investor relations website at https://ir.suncountry.com/news-events/events-and-presentations.About Sun Country Sun Country Airlines is a new breed of hybrid low-cost air carrier, whose mission is to connect guests to their favorite people and places, to create lifelong memories and transformative experiences. Sun Country dynamically deploys shared resources across our synergistic scheduled service, charter, and cargo businesses. Based in Minnesota, we focus on serving leisure and visiting friends and relatives (“VFR”) passengers and charter customers and providing cargo services, with flights throughout the United States and to destinations in Mexico, Central America, Canada, and the Caribbean.For photos, b-roll and additional company information, visit https://www.stories.suncountry.com/multimedia.CONTACT: Investor Relations Chris Allen [email protected]

GlobeNewswire

Sun Country Airlines Will Participate in the TD Cowen 16th Annual Global Transportation Conference

https://finance.yahoo.com/news/sun-country-airlines-participate-td-153200492.html

805e2788-e243-321e-9eed-48cfb30fe351

SND

In this article, we will take a look at the 12 best quality penny stocks to buy. To see more such companies, go directly to 5 Best Quality Penny Stocks to Buy.Finding quality penny stocks has always been difficult. It’s like finding a needle in the haystack. There are thousands of penny stocks and a majority of them might fail and go to zero. Scams, pump and dump schemes, liquidity problems and lack of any business model are just a few of the long list of problems that keep an average, risk-averse investor at bay from penny stocks. Yet in these penny stocks are hidden the gems of the future. Small companies working on long-term growth catalysts, products and services provide investors a chance to become wealthy by investing in the stock market, something that’s becoming harder by the day. A report by Westcore Funds sheds some light on the importance of investing in quality penny, or micro-cap stocks, for long-term gains. The report said that micro-cap stocks usually remain under the radar because Wall Street analysts are not interested in covering them. The report cited a data point says on that on average each large-cap stock is covered by 26 analysts while on average each micro-cap stock is covered by two analysts.The report said that this huge difference in analyst coverage of two categories creates a lot of mispriced stock opportunities in the micro-cap sector which could be used by investors. The report also cited data which shows the historical outperformance of micro-cap stocks. From 1992 to 2015, the Dow Jones U.S. Micro Cap posted a whopping 1199% in returns on a cumulative basis, compared to 696% for the S&P 500 indexThe report also debunks a commonly held thought that micro-cap stocks are risky because of their liquidity issues and trading volumes. The report said that Alpha, which is a measure of risk-adjusted performance, “is actually higher for micro- caps than it is for other equity asset classes when compared to the overall market.”Story continuesBut even if we acknowledge the fact that risks are higher for micro-cap companies, there are some research reports which show that these risks are more than offset by returns posted by these micro-cap companies over longer periods of time. For example, a report from Acuitas Investments shares some interesting data points from research done by Eugene Fama and Kenneth French.  The report shares some charts on stock volatility of different market cap categories for 25, 50, and 75 years.“From a risk standpoint, the variability of microcap returns has understandably been above large cap stocks, with an annualized standard deviation of 20.60% vs. 14.00% over the past 75 years. However, investors have been more than rewarded for this additional risk with an annualized 1.40% performance premium. When comparing the risk of microcaps vs. small caps, the difference is not nearly as significant as many investors might think.”Acknowledging the caveats linked with micro-cap stocks or penny stocks, it’s a fact that if one manages to find quality penny stocks with high growth potential, they can offer huge changes of wealth creation. For example, the Acuitas Investments report highlights some of the important fundamental differences of micro-cap stocks and large-cap stocks. The report said that micro-cap stocks trade at roughly half the price to book as large cap stocks. The biggest reason behind this low valuation, according to the report, is that these companies receive little or no attention from institutional investors. The report said that the valuation of micro-cap stocks is lower than large-cap companies when seen in all key metrics, including Price/Sales, Price/Cash Flow, and naturally the Price/Earnings ratio. However, a key caveat here is that most of the penny stocks or micro-cap stocks have negative earnings. These companies are still burning a lot of cash and funding their operations that are expected to bear fruit in the long run. On the other hand, micro-cap companies have higher sales growth, better than large-cap companies. The report said that on average the micro-cap index has a sales growth of 18.1%, better than large-cap’s 11.2% sales growth.Gains for Those Who are "Willing to do the Work"The report then reiterates the simple fact which is perhaps present in every micro-cap stock investing primer. Potential gains in the micro-cap universe are for those are “willing to do the work.” You will find tons of analyses on Apple, Microsoft, Meta Platforms and other major companies. But you wont find much analyst coverage on penny stocks in the mainstream media. Are you ready to dig deeper to find the real quality penny stocks currently trading in the market? It’s easier to say yes than executing the long, tiring process of finding quality penny stocks. But why not see what the investing gurus have been doing in this area? That’s why in this article we decided to list down some quality penny stocks bought by hedge funds.Best Quality Penny Stocks to BuyPhoto by Nicholas Cappello on UnsplashOur MethodologyFor this article we first used a stock screener to find companies that are profitable, trading under $5, have sales growth of over 5% over the past five years, have positive EPS growth (quarter over quarter) and positive sales growth (quarter over quarter). From the resultant list of stocks we picked the penny stocks with the highest number of hedge fund investors. We gauged hedge fund sentiment for these stocks using Insider Monkey’s proprietary database of 943 hedge funds. This way, the stocks in this article are the best quality penny stocks to buy according to hedge funds.Best Quality Penny Stocks to Buy12. Great Elm Group, Inc. (NASDAQ:GEG)Number of Hedge Fund Holders: 7Waltham, Massachusetts-based Great Elm Group, Inc. (NASDAQ:GEG) is engaged in durable medical equipment and investment management businesses.A total of 7 hedge funds tracked by Insider Monkey had stakes in Great Elm Group, Inc. (NASDAQ:GEG). The biggest stakeholder of Great Elm Group, Inc. (NASDAQ:GEG) was Matthew Drapkin and Steven R. Becker’s Becker Drapkin Management which owns an $8.3 million stake in the company.11. Great Elm Group, Inc. (NASDAQ:GEG)Number of Hedge Fund Holders: 7Medical equipment company Great Elm Group, Inc. (NASDAQ:GEG) ranks 11th in our list of the best quality penny stocks to buy according to hedge funds. Earlier this year, Great Elm Group, Inc. (NASDAQ:GEG) sold Forest, one of its subsidiaries, to JPMorgan. The first tranche of the deal raised $18 million from the sale of 61% of the common equity. In February Great Elm Group, Inc. (NASDAQ:GEG) posted results for fiscal Q2. GAAP EPS in the period came in at $0.74. Revenue in the quarter jumped 84.3% year over year to $1.88 million.As of the end of the first quarter of 2023, 7 hedge funds tracked by Insider Monkey had stakes in Great Elm Group, Inc. (NASDAQ:GEG). The biggest stakeholder of Great Elm Group, Inc. (NASDAQ:GEG) was Matthew Drapkin and Steven R. Becker’s Becker Drapkin Management which owns an $8.3 million stake in the company.10. Smart Sand, Inc. (NASDAQ:SND)Number of Hedge Fund Holders: 8Texas-based Smart Sand Inc. (NASDAQ:SND) is engaged in the excavation, processing, and sale of sands or proppants for use in hydraulic fracturing operations in the oil and gas industry. In May Smart Sand Inc. (NASDAQ:SND) posted Q1 results. Smart Sand Inc. (NASDAQ:SND)’s revenue in the period jumped about 98% year over year.Insider Monkey’s database of 943 hedge funds shows that 8 hedge funds had stakes in Smart Sand Inc. (NASDAQ:SND) as of the end of the first quarter of 2023.9. Ring Energy, Inc. (NYSE:REI)Number of Hedge Fund Holders: 9Oil and gas exploration company Ring Energy, Inc. (NYSE:REI) ranks 9th in our list of the best quality penny stocks to buy according to hedge funds. Ring Energy, Inc. (NYSE:REI) recently said it agreed to buy the Central Basin Platform assets of Founders Oil & Gas IV located in the Permian Basin for $75 million in cash.Ring Energy, Inc. (NYSE:REI) in July also announced a $25 million net reduction in borrowings from its $600 million senior revolving credit facility during the second quarter. A total of 9 hedge funds tracked by Insider Monkey were long Ring Energy, Inc. (NYSE:REI). The biggest stakeholder of Ring Energy, Inc. (NYSE:REI) was John Overdeck and David Siegel’s  Two Sigma Advisors with a $3 million stake in the company.8. LexinFintech Holdings Ltd. (NASDAQ:LX)Number of Hedge Fund Holders: 9China-based LexinFintech Holdings Ltd. (NASDAQ:LX) is on a tear in 2023, gaining about 44% year to date. As of the end of the first quarter of 2023, 9 hedge funds in Insider Monkey’s database had stakes in LexinFintech Holdings Ltd. (NASDAQ:LX). The most significant stakeholder of LexinFintech Holdings Ltd. (NASDAQ:LX) during this period was DE Shaw with a $2.9 million stake in the company.7. Wipro Limited (NYSE:WIT)Number of Hedge Fund Holders: 10IT services and consulting firm Wipro Limited (NYSE:WIT) is one of the top quality penny stocks to buy according to hedge funds. Insider Monkey’s database of 943 hedge funds shows that 10 funds had stakes in Wipro Limited (NYSE:WIT). The biggest hedge fund stakeholder of Wipro Limited (NYSE:WIT) during this period was Ben Levine, Andrew Manuel, and Stefan Renold’s LMR Partners which had an $11 million stake in the company.Last month, Wipro Limited (NYSE:WIT) said it plans to spend $1 billion to advance AI capabilities over the next three years.In July, Wipro Limited (NYSE:WIT) posted Q1 results. GAAP EPS in the period came in at $0.06. Revenue in the quarter jumped 6% year over ear.6. PaySign, Inc. (NASDAQ:PAYS)Number of Hedge Fund Holders: 12PaySign, Inc. (NASDAQ:PAYS) is a prepaid cards and payments processing company that mostly serves the plasma industry.In June, PaySign, Inc. (NASDAQ:PAYS) completed an issuer certification and connection with Mastercard (NYSE:MA). PaySign, Inc. (NASDAQ:PAYS) jumped about 1.2% on the news.As of the end of the first quarter of 2023, 12 hedge funds tracked by Insider Monkey had stakes in PaySign, Inc. (NASDAQ:PAYS). The biggest stakeholder of PaySign, Inc. (NASDAQ:PAYS) during this period was Joseph P. Colmery and Steven J. Didion’s JCSD Capital with an $886 million stake in the company. Click to continue reading and see 5 Best Quality Penny Stocks to Buy. Suggested articles:10 Best EV, Battery and Autonomous Driving ETFs25 Most Health-Conscious States in the US10 Oversold Growth Stocks To BuyDisclosure: None. 12 Best Quality Penny Stocks to Buy is originally published on Insider Monkey.

Insider Monkey

12 Best Quality Penny Stocks to Buy

https://finance.yahoo.com/news/12-best-quality-penny-stocks-153809894.html

2266894c-2560-360e-82e3-2c4806888dcd

SND

Key InsightsThe projected fair value for Smart Sand is US$3.35 based on 2 Stage Free Cash Flow to EquityCurrent share price of US$2.02 suggests Smart Sand is potentially 40% undervaluedHow far off is Smart Sand, Inc. (NASDAQ:SND) from its intrinsic value? Using the most recent financial data, we'll take a look at whether the stock is fairly priced by estimating the company's future cash flows and discounting them to their present value. One way to achieve this is by employing the Discounted Cash Flow (DCF) model. Don't get put off by the jargon, the math behind it is actually quite straightforward.Remember though, that there are many ways to estimate a company's value, and a DCF is just one method. For those who are keen learners of equity analysis, the Simply Wall St analysis model here may be something of interest to you. View our latest analysis for Smart Sand The MethodWe are going to use a two-stage DCF model, which, as the name states, takes into account two stages of growth. The first stage is generally a higher growth period which levels off heading towards the terminal value, captured in the second 'steady growth' period. To begin with, we have to get estimates of the next ten years of cash flows. Seeing as no analyst estimates of free cash flow are available to us, we have extrapolate the previous free cash flow (FCF) from the company's last reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.Generally we assume that a dollar today is more valuable than a dollar in the future, and so the sum of these future cash flows is then discounted to today's value:10-year free cash flow (FCF) forecast2024202520262027202820292030203120322033 Levered FCF ($, Millions) US$16.6mUS$15.1mUS$14.2mUS$13.7mUS$13.5mUS$13.4mUS$13.5mUS$13.6mUS$13.7mUS$13.9mGrowth Rate Estimate SourceEst @ -14.03%Est @ -9.18%Est @ -5.78%Est @ -3.40%Est @ -1.74%Est @ -0.57%Est @ 0.25%Est @ 0.82%Est @ 1.22%Est @ 1.50% Present Value ($, Millions) Discounted @ 11% US$14.9US$12.2US$10.3US$9.0US$7.9US$7.1US$6.4US$5.8US$5.3US$4.8("Est" = FCF growth rate estimated by Simply Wall St)Present Value of 10-year Cash Flow (PVCF) = US$84mStory continuesThe second stage is also known as Terminal Value, this is the business's cash flow after the first stage. For a number of reasons a very conservative growth rate is used that cannot exceed that of a country's GDP growth. In this case we have used the 5-year average of the 10-year government bond yield (2.2%) to estimate future growth. In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 11%.Terminal Value (TV)= FCF2033 × (1 + g) ÷ (r – g) = US$14m× (1 + 2.2%) ÷ (11%– 2.2%) = US$157mPresent Value of Terminal Value (PVTV)= TV / (1 + r)10= US$157m÷ ( 1 + 11%)10= US$54mThe total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is US$138m. In the final step we divide the equity value by the number of shares outstanding. Relative to the current share price of US$2.0, the company appears quite good value at a 40% discount to where the stock price trades currently. The assumptions in any calculation have a big impact on the valuation, so it is better to view this as a rough estimate, not precise down to the last cent.dcfThe AssumptionsWe would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows. You don't have to agree with these inputs, I recommend redoing the calculations yourself and playing with them. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Smart Sand as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 11%, which is based on a levered beta of 1.813. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.Looking Ahead:Although the valuation of a company is important, it shouldn't be the only metric you look at when researching a company. The DCF model is not a perfect stock valuation tool. Instead the best use for a DCF model is to test certain assumptions and theories to see if they would lead to the company being undervalued or overvalued. If a company grows at a different rate, or if its cost of equity or risk free rate changes sharply, the output can look very different. Can we work out why the company is trading at a discount to intrinsic value? For Smart Sand, there are three important items you should further research:Risks: Take risks, for example - Smart Sand has 3 warning signs (and 1 which shouldn't be ignored) we think you should know about.Future Earnings: How does SND's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with our free analyst growth expectation chart.Other Solid Businesses: Low debt, high returns on equity and good past performance are fundamental to a strong business. Why not explore our interactive list of stocks with solid business fundamentals to see if there are other companies you may not have considered!PS. The Simply Wall St app conducts a discounted cash flow valuation for every stock on the NASDAQGS every day. If you want to find the calculation for other stocks just search here.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Is There An Opportunity With Smart Sand, Inc.'s (NASDAQ:SND) 40% Undervaluation?

https://finance.yahoo.com/news/opportunity-smart-sand-inc-nasdaq-105853630.html

dc3cf367-1abd-31b7-8e11-d6a20de3e5fa

SNDA

DALLAS, August 14, 2023--(BUSINESS WIRE)--Sonida Senior Living, Inc. (the "Company," "we," "our," or "us") (NYSE: SNDA) announced results for the second quarter ended June 30, 2023."The Company’s consistent occupancy and revenue growth year-over-year and the additional financial flexibility created by successful agreements with our two largest lending partners enable us to continue building on our strong operational momentum and prepare for strategic expansion," said Brandon Ribar, CEO and President. "Demand for senior housing continues to accelerate, and inventory supply remains slow. With our strong, stable leadership across the portfolio and dedication to operational excellence, Sonida is well positioned to serve the growing aging population and drive significant operating income growth for the Company."Second Quarter HighlightsWeighted average occupancy for the Company’s consolidated portfolio increased 120 basis points to 83.9% year-over-year.Resident revenue increased $5.0 million, or 9.5% year-over-year.Net loss for the second quarter was $12.2 million.Adjusted EBITDA, a non-GAAP measure, was $7.5 million for Q2 2023, an increase of 78.0% year-over-year.Net cash provided by operating activities was $5.5 million year-to-date as compared to a use of cash of $2.1 million for the same period in 2022.Results for the Company’s consolidated portfolio of communities:Q2 2023 vs. Q2 2022:Revenue Per Available Unit ("RevPAR") increased 9.9% to $3,300.Revenue Per Occupied Unit ("RevPOR") increased 8.3% to $3,932.Community Net Operating Income, a non-GAAP measure, increased $2.9 million. Adjusted Community Net Operating Income, a non-GAAP measure, which excludes $0.4 million and $0.5 million of state grant revenue received in Q2 2023 and Q2 2022, respectively, was $13.5 million and $10.6 million for Q2 2023 and Q2 2022, respectively.Community Net Operating Income Margin and Adjusted Community Net Operating Income Margin (non-GAAP measures with the latter adjusted for non-recurring state grant revenue) were 23.8% and 23.2%, for Q2 2023, respectively, and were 20.4% and 19.6% for Q2 2022, respectively.Q2 2023 vs. Q1 2023:RevPAR increased 0.5% to $3,300.RevPOR increased 0.6% to $3,932.Community Net Operating Income increased $0.2 million. Adjusted Community Net Operating Income, excluding $0.4 million and $2.0 million of state grant revenue received in Q2 2023 and Q1 2023, respectively, was $13.1 million and $11.4 million for Q2 2023 and Q1 2023, respectively.Community Net Operating Income Margin and Adjusted Community Net Operating Income Margin (adjusted for non-recurring state grant revenue) were 23.8% and 23.2% for Q2 2023, respectively, and 23.7% and 20.9% for Q1 2023, respectively.Story continuesSONIDA SENIOR LIVING, INC.SUMMARY OF CONSOLIDATED FINANCIAL RESULTSTHREE MONTHS ENDED JUNE 30, 2023(in thousands)Three Month Ended June 30,Three Month Ended March 31,202320222023Consolidated resultsResident revenue (1)$56,960$51,996$56,606Management fees531600505Operating expenses44,66241,51043,808General and administrative expenses6,5749,4397,063Gain (loss) on extinguishment of debt——36,339Income (loss) before provision for income taxes (1)(12,159)(7,410)24,214Net income (loss) (1)(12,212)(7,410)24,145Adjusted EBITDA (1) (2)7,5384,2367,794Net cash provided by (used in) operating activities2,288(1,380)3,249Community net operating income (NOI) (2)13,54910,64213,402Community net operating income margin (2)23.8%20.4%23.7%Weighted average occupancy83.9%82.7%84.0%(1) Includes $0.4 million, $0.5 million, and $2.0 million of state grant revenue received in Q2 2023, Q2 2022, and Q1 2023, respectively.(2) Adjusted EBITDA, Community Net Operating Income, and Community Net Operating Income Margin are financial measures that are not calculated in accordance with U.S. Generally Accepted Accounting Principles ("GAAP"). See "Reconciliation of Non-GAAP Financial Measures" for the Company's definition of such measures, reconciliations to the most comparable GAAP financial measures, and other information regarding the use of the Company's non-GAAP financial measures.Results of OperationsThree months ended June 30, 2023 as compared to three months ended June 30, 2022RevenuesResident revenue for the three months ended June 30, 2023 was $57.0 million as compared to $52.0 million for the three months ended June 30, 2022, an increase of $5.0 million, or 9.5%. The increase in revenue was primarily due to increased occupancy and increased average rent rates.ExpensesOperating expenses for the three months ended June 30, 2023 were $44.7 million as compared to $41.5 million for the three months ended June 30, 2022, an increase of $3.2 million, or 7.7%. The increase is primarily due to a $2.3 million increase in labor and employee-related expenses and $0.9 million in other expenses.General and administrative expenses for the three months ended June 30, 2023 were $6.6 million as compared to $9.4 million for the three months ended June 30, 2022, representing a decrease of $2.8 million. This decrease is primarily due to a $1.6 million decrease in stock-based compensation expense from the prior period and a $1.2 million net decrease in recurring corporate expenses.The Company reported a net loss of $12.2 million for the three months ended June 30, 2023, compared to net loss of $7.4 million for the three months ended June 30, 2022. A major factor impacting the comparison of net loss for the three months ended June 30, 2023 and June 30, 2022 includes federal grants received of $9.1 million in Q2 2022.Adjusted EBITDA for the three months ended June 30, 2023 was $7.5 million compared to $4.2 million for the three months ended June 30, 2022. See "Reconciliation of Non-GAAP Financial Measures" below.Six months ended June 30, 2023 as compared to six months ended June 30, 2022RevenuesResident revenue for the six months ended June 30, 2023 was $113.6 million as compared to $102.8 million for the six months ended June 30, 2022, an increase of $10.8 million, or 10.5%. The increase in revenue was primarily due to increased occupancy and increased average rent rates.ExpensesOperating expenses for the six months ended June 30, 2023 were $88.5 million as compared to $83.4 million for the six months ended June 30, 2022, an increase of $5.1 million, or 6.1%. The increase is primarily due to a $3.6 million increase in labor and employee-related expenses, a $0.4 million increase in service contracts, a $0.5 million increase in computer software/internet costs and $0.6 million increase in other expenses.General and administrative expenses for the six months ended June 30, 2023 were $13.6 million as compared to $17.7 million for the six months ended June 30, 2022, representing a decrease of $4.1 million. This decrease is primarily due to a $2.6 million decrease in stock-based compensation expense from the prior year period and a $1.5 million net decrease in recurring corporate expenses.The Company reported a net income of $11.9 million for the six months ended June 30, 2023 compared to a net loss of $24.1 million for the six months ended June 30, 2022, primarily due to the $36.3 million of gain on extinguishment of debt during the three months ended March 31, 2023.Significant TransactionsFannie Mae Loan ModificationOn June 29, 2023, the Company entered into a binding forbearance agreement with the Federal National Mortgage Association ("Fannie Mae") and ("Fannie Forbearance") for all 37 of its encumbered communities, effective as of June 1, 2023. Under the Fannie Forbearance, Fannie Mae agreed to forbear on its legal and equitable remedies otherwise available under the community loan agreements and mortgages and Master Credit Facility ("MCF") in connection with reduced debt service payments made by the Company during the Fannie Forbearance period, which expires on October 1, 2023. The Fannie Forbearance is the first of a two-step process to modify all existing mortgage agreements with Fannie Mae under a proposed loan modification agreement, as defined in the Fannie Forbearance ("Loan Modification Agreement"). The terms outlined in the agreed upon term sheet accompanying the Fannie Forbearance will be included in the proposed subsequent Loan Modification Agreement. In the second step, the Company and Fannie Mae have agreed to exercise commercially reasonable efforts to enter into the Loan Modification Agreement for each of their existing mortgage agreements before October 1, 2023. The execution of the Loan Modification Agreement is subject to certain conditions, including Sonida continuing to perform under the Forbearance Agreement, the completion of the definitive documentation, and the absence of any other events of default under the community mortgages and MCF. The forbearance and subsequent loan modification provide the Company with additional financial flexibility and increases its liquidity position.Under the terms of the Fannie Forbearance and anticipated Loan Modification Agreement, the mortgage principal payments on 18 community mortgages, ranging from July 2024 to December 2026, will be extended to December 2026. The remaining 19 communities under the MCF have existing maturities in December 2028. The Company will not be required to make scheduled principal payments due under the 18 community mortgages and 19 communities under the MCF through the revised maturity date of December 2026 and 36 months from June 1, 2023, respectively. The monthly interest rate will be reduced by a 1.5% weighted average on all 37 communities for 12 months.Ally Loan AmendmentOn June 29, 2023 and concurrent with the Fannie Forbearance, the Company executed a second amendment ("Ally Amendment") to its refinance facility ("Ally Term Loan") and limited payment guaranty with Ally Bank ("Second Amended and Restated Limited Payment Guaranty") with terms that include a waiver of its current $13.0 million liquid assets requirement through June 30, 2024. During the waiver period (June 30, 2023 through July 1, 2024, the "Waiver Period"), a new and temporary liquid assets minimum threshold will be established at $6.0 million and measured weekly. Beginning on July 1, 2024, a new liquid assets requirement of $7.0 million will be effective, with such threshold increasing $1.0 million per month through the earlier of the release of the Waiver Period or December 31, 2024. In addition, the Company must replace its current $2.3 million interest rate cap ("IRC") on the $88.1 million notional value of the Ally Term Loan at a 2.25% SOFR strike rate once the current IRC expires on November 30, 2023. On July 3, the Company funded the $2.3 million interest rate cap reserve to Ally Bank.Conversant Equity CommitmentIn connection with the Fannie Forbearance and Ally Amendment signed on June 29, 2023, the Company entered into a $13.5 million equity commitment agreement ("Equity Commitment") with Conversant Dallas Parkway (A) LP and Conversant Dallas Parkway (B) LP, (together "Conversant") for a term of 18 months. The Equity Commitment had a commitment fee of $675,000 payable through the issuance of 67,500 shares of common stock of the Company. Sonida shall have the right, but not the obligation, to utilize Conversant’s equity commitment and may draw on the commitment in whole or in part. The Company made a $6.0 million equity draw on July 3, 2023 in exchange for 600,000 shares of common stock of the Company.The foregoing description of the Fannie Forbearance, the Ally Amendment, Second Amended & Restated Limited Payment Guaranty, and Equity Commitment and related transactions contemplated do not purport to be complete and are subject to, and qualified in their entirety by, the full text of the Fannie Forbearance, the Ally Amendment, Second Amended and Restated Limited Payment Guaranty, and Equity Commitment which are filed as Exhibits 10.1, 10.2, 10.3 and 10.4, respectively, to the Company’s Form 8-K filed on July 5, 2023, incorporated herein by reference.Liquidity and Capital ResourcesCash flowsThe table below presents a summary of the Company’s net cash provided by (used in) operating, investing, and financing activities (in thousands):Six months ended June 30,20232022Net cash provided by (used in) operating activities$5,537$(2,070)Net cash used in investing activities(9,355)(24,491)Net cash used in financing activities(6,304)(19,946)Decrease in cash and cash equivalents$(10,122)$(46,507)In addition to $7.2 million of unrestricted cash on hand as of June 30, 2023, our future liquidity will depend in part upon our operating performance, which will be affected by prevailing economic conditions, including those related to the COVID-19 pandemic, and financial, business and other factors, some of which are beyond our control. Principal sources of liquidity are expected to be cash flows from operations, proceeds from debt refinancings or loan modifications, proceeds from the issuance of common or preferred stock, COVID-19 or related relief grants from various state agencies, and/or proceeds from the sale of owned assets. In June 2023, the Company entered into the Fannie Forbearance, the Ally Amendment, Second Amended and Restated Limited Payment Guaranty, and the Equity Agreement, as disclosed above. These transactions are expected to provide additional financial flexibility to the Company and increase its liquidity position. In March 2022, the Company completed the refinancing of certain existing mortgage debt, which was further amended in December 2022 and June 2023.The Company has implemented plans, which include strategic and cash-preservation initiatives, designed to provide the Company with adequate liquidity to meet its obligations for at least the 12-month period following the date its second quarter 2023 financial statements are issued. While the Company’s plans are designed to provide it with adequate liquidity to meet its financial obligations, the remediation plan is dependent on conditions and matters that may be outside of the Company’s control, and no assurance can be given that certain options will be available on terms acceptable to the Company, or at all. If the Company is unable to successfully execute all of the planned initiatives or if the plan does not fully mitigate the Company’s liquidity challenges, the Company’s operating plans and resulting cash flows along with its cash and cash equivalents and other sources of liquidity may not be sufficient to fund operations for the 12-month period following the date the financial statements are issued.The Company, from time to time, considers and evaluates financial and capital raising transactions related to its portfolio, including debt refinancings and modifications, purchases and sales of assets and other transactions. There can be no assurance that the Company will continue to generate cash flows at or above current levels, or that the Company will be able to obtain the capital necessary to meet the Company’s short and long-term capital requirements.Recent changes in the current economic environment, and other future changes, could result in decreases in the fair value of assets, slowing of transactions, and the tightening of liquidity and credit markets. These impacts could make securing debt or refinancings for the Company or buyers of the Company’s properties more difficult or on terms not acceptable to the Company. The Company’s actual liquidity and capital funding requirements depend on numerous factors, including its operating results, its capital expenditures for community investment, and general economic conditions, as well as other factors described in "Item 1A. Risk Factors" of our Annual Report on Form 10-K for the fiscal year ended December 31, 2022, filed with the SEC on March 30, 2023 and "Item. 1A. Risk Factors" in our Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2023, filed with the SEC on August 14, 2023.Conference Call InformationThe Company will host a conference call with senior management to discuss the Company’s financial results for the three months ended June 30, 2023, on Monday August 14, 2023, at 12:30 p.m. Eastern Time. To participate, dial 877-407-0989 (no passcode required). A link to the simultaneous webcast of the teleconference will be available at: https://www.webcast-eqs.com/register/sonidaseniorliving_q22023_en/en.For the convenience of the Company’s shareholders and the public, the conference call will be recorded and available for replay starting August 15, 2023 through August 29, 2023. To access the conference call replay, call 877-660-6853, passcode 13740287. A transcript of the call will be posted in the Investor Relations section of the Company’s website.About the CompanyDallas-based Sonida Senior Living, Inc. is a leading owner-operator of independent living, assisted living and memory care communities and services for senior adults. As of June 30, 2023, the Company operated 72 communities, with capacity for approximately 8,000 residents across 18 states, which provide comfortable, safe, affordable environment where residents can form friendships, enjoy new experiences and receive personalized care from dedicated team members who treat them like family. For more information, visit www.sonidaseniorliving.com or connect with the Company on Facebook, Twitter or LinkedIn.Definitions of RevPAR and RevPORRevPAR, or average monthly revenue per available unit, is defined by the Company as resident revenue for the period, divided by the weighted average number of available units in the corresponding portfolio for the period, divided by the number of months in the period.RevPOR, or average monthly revenue per occupied unit, is defined by the Company as resident revenue for the period, divided by the weighted average number of occupied units in the corresponding portfolio for the period, divided by the number of months in the period.Safe HarborThis release contains forward-looking statements which are subject to certain risks and uncertainties that could cause our actual results and financial condition of Sonida Senior Living, Inc. (the "Company," "we," "our" or "us") to differ materially from those indicated in the forward-looking statements, including, among others, the risks, uncertainties and factors set forth under "Item. 1A. Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022, filed with the Securities and Exchange Commission (the "SEC") on March 30, 2023 and "Item. 1A. Risk Factors" in our Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2023, filed with the SEC on August 14, 2023, and also include the following: the impact of COVID-19, including the actions taken to prevent or contain the spread of COVID-19, the transmission of its highly contagious variants and sub-lineages and the development and availability of vaccinations and other related treatments, or another epidemic, pandemic or other health crisis; the Company’s ability to generate sufficient cash flows from operations, additional proceeds from debt financings or refinancings, and proceeds from the sale of assets to satisfy its short- and long-term debt obligations and to make capital improvements to the Company’s communities; increases in market interest rates that increase the cost of certain of our debt obligations; increased competition for, or a shortage of, skilled workers, including due to the COVID-19 pandemic or general labor market conditions, along with wage pressures resulting from such increased competition, low unemployment levels, use of contract labor, minimum wage increases and/or changes in overtime laws; the Company’s ability to obtain additional capital on terms acceptable to it; the Company’s ability to extend or refinance its existing debt as such debt matures, including the Company’s ability to complete the modifications to its loan agreements; the Company’s compliance with its debt agreements, including certain financial covenants and the risk of cross-default in the event such non-compliance occurs; the Company’s ability to complete acquisitions and dispositions upon favorable terms or at all; the risk of oversupply and increased competition in the markets which the Company operates; the Company’s ability to improve and maintain controls over financial reporting and remediate the identified material weakness discussed in its recent Quarterly and Annual Reports filed with the SEC; the departure of the Company’s key officers and personnel; the cost and difficulty of complying with applicable licensure, legislative oversight, or regulatory changes; risks associated with current global economic conditions and general economic factors such as inflation, the consumer price index, commodity costs, fuel and other energy costs, competition in the labor market, costs of salaries, wages, benefits, and insurance, interest rates, and tax rates; and changes in accounting principles and interpretations.For information about Sonida Senior Living, visit www.sonidaseniorliving.comSonida Senior Living, Inc.Condensed Consolidated Statements of Operations (Unaudited)(in thousands, except per share data)Three Months EndedJune 30,Six Months EndedJune 30,2023202220232022Revenues:Resident revenue$56,960$51,996$113,566$102,830Management fees5316001,0361,228Managed community reimbursement revenue5,3637,04110,32514,063Total revenues62,85459,637124,927118,121Expenses:Operating expense44,66241,51088,47083,439General and administrative expense6,5749,43913,63717,712Depreciation and amortization expense9,9279,67119,80819,249Managed community reimbursement expense5,3637,04110,32514,063Total expenses66,52667,661132,240134,463Other income (expense):Interest income18823823Interest expense(8,558)(7,920)(17,425)(15,523)Gain (loss) on extinguishment of debt, net——36,339(641)Gain on sale of assets, net——251—Other income (expense), net(117)8,532(179)8,669Income (loss) before provision for income taxes(12,159)(7,410)12,055(23,834)Provision for income taxes(53)—(122)(254)Net income (loss)(12,212)(7,410)11,933(24,088)Dividends on Series A convertible preferred stock—(1,134)—(2,267)Undeclared dividends on Series A convertible preferred stock(1,230)—(2,428)—Undistributed net income allocated to participating securities——(1,419)—Net income (loss) attributable to common stockholders$(13,442)$(8,544)$8,086$(26,355)Weighted average common shares outstanding — basic6,3816,3586,3746,350Weighted average common shares outstanding — diluted6,3816,3586,8566,350Basic net income (loss) per common share$(2.11)$(1.34)$1.27$(4.15)Diluted net income (loss) per common share$(2.11)$(1.34)$1.18$(4.15)Sonida Senior Living, Inc.Condensed Consolidated Balance Sheets (Unaudited)(in thousands, except per share amounts)June 30, 2023December 31, 2022AssetsCurrent assets:Cash and cash equivalents$7,203$16,913Restricted cash13,41713,829Accounts receivable, net7,5866,114Prepaid expenses and other assets5,0084,099Derivative assets1,6002,611Total current assets34,81443,566Property and equipment, net606,069615,754Other assets, net1,2261,948Total assets$642,109$661,268Liabilities and EquityCurrent liabilities:Accounts payable$10,005$7,272Accrued expenses36,00836,944Current portion of notes payable, net of deferred loan costs88,63646,029Deferred income4,1423,419Federal and state income taxes payable61—Other current liabilities554653Total current liabilities139,40694,317Notes payable, net of deferred loan costs and current portion547,381625,002Other liabilities77113Total liabilities686,864719,432Commitments and contingenciesRedeemable preferred stock:Series A convertible preferred stock, $0.01 par value; 41 shares authorized, 41 shares issued and outstanding as of June 30, 2023 and December 31, 202245,97843,550Shareholders’ deficit:Authorized shares - 15,000 as of June 30, 2023 and December 31, 2022; none issued or outstanding, except Series A convertible preferred stock as noted above——Authorized shares - 15,000 as of June 30, 2023 and December 31, 2022; 7,178 and 6,670 shares issued and outstanding as of June 30, 2023 and December 31, 2022, respectively7267Additional paid-in capital294,320295,277Retained deficit(385,125)(397,058)Total shareholders’ deficit(90,733)(101,714)Total liabilities, redeemable preferred stock and shareholders’ deficit$642,109$661,268Sonida Senior Living, Inc.Condensed Consolidated Statements of Cash Flows (Unaudited)(in thousands)Six Months Ended June 30,20232022Cash flows from operating activities:Net income (loss)$11,933$(24,088)Adjustments to reconcile net income (loss) to net cash provided by operating activities:Depreciation and amortization19,80819,249Amortization of deferred loan costs788519Gain on sale of assets, net(251)—Write-off of other assets—535Unrealized loss on interest rate cap, net1,10345(Gain) loss on extinguishment of debt(36,339)641Provision for bad debt334522Non-cash stock-based compensation expense1,5034,067Other non-cash items(1)4Changes in operating assets and liabilities:Accounts receivable, net(1,807)(1,387)Prepaid expenses and other assets1,316700Other assets, net294(301)Accounts payable and accrued expense6,100(2,524)Federal and state income taxes payable61(421)Deferred income723352Other current liabilities(28)17Net cash provided by (used in) operating activities5,537(2,070)Cash flows from investing activities:Acquisition of new communities—(12,342)Capital expenditures(9,698)(12,149)Proceeds from sale of assets343—Net cash used in investing activities(9,355)(24,491)Cash flows from financing activities:Proceeds from notes payable—80,000Repayments of notes payable(5,893)(94,247)Purchase of common stock—(219)Dividends paid on Series A convertible preferred stock—(2,985)Purchase of interest rate cap—(258)Deferred loan costs paid(327)(2,180)Other financing costs(84)(57)Net cash used in financing activities(6,304)(19,946)Decrease in cash and cash equivalents and restricted cash(10,122)(46,507)Cash, cash equivalents, and restricted cash at beginning of period30,74292,876Cash, cash equivalents, and restricted cash at end of period$20,620$46,369RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (UNAUDITED)This earnings release contains the financial measures (1) Community Net Operating Income and Adjusted Community Net Operating Income, (2) Community Net Operating Income Margin and Adjusted Community Net Operating Income Margin, (3) Adjusted EBITDA, (4) Revenue per Occupied Unit (RevPOR) and (5) Revenue per Available Unit (RevPAR), all of which are not calculated in accordance with U.S. GAAP. Presentations of these non-GAAP financial measures are intended to aid investors in better understanding the factors and trends affecting the Company’s performance and liquidity. However, investors should not consider these non-GAAP financial measures as a substitute for financial measures determined in accordance with GAAP, including net income (loss), income (loss) from operations, net cash provided by (used in) operating activities, or revenue. Investors are cautioned that amounts presented in accordance with the Company’s definitions of these non-GAAP financial measures may not be comparable to similar measures disclosed by other companies because not all companies calculate non-GAAP measures in the same manner. Investors are urged to review the following reconciliations of these non-GAAP financial measures from the most comparable financial measures determined in accordance with GAAP.Community Net Operating Income and Consolidated Community Net Operating Income Margin are non-GAAP performance measures for the Company’s consolidated owned portfolio of communities that the Company defines as net income (loss) excluding: general and administrative expenses (inclusive of stock-based compensation expense), interest income, interest expense, other income/expense, provision for income taxes, settlement fees and expenses, revenue and operating expenses from the Company’s disposed properties; and further adjusted to exclude income/expense associated with non-cash, non-operational, transactional, or organizational restructuring items that management does not consider as part of the Company’s underlying core operating performance and impacts the comparability of performance between periods. For the periods presented herein, such other items include depreciation and amortization expense, gain(loss) on extinguishment of debt, gain(loss) on disposition of assets, long-lived asset impairment, and loss on non-recurring settlements with third parties. The Community Net Operating Income Margin is calculated by dividing Community Net Operating Income by community resident revenue. Adjusted Community Net Operating Income and Adjusted Community Net Operating Income Margin are further adjusted to exclude the impact from non-recurring state grant funds received.The Company believes that presentation of Community Net Operating Income, Community Net Operating Income Margin, Adjusted Community Net Operating Income, and Adjusted Community Net Operating Income Margin as performance measures are useful to investors because (i) they are one of the metrics used by the Company’s management to evaluate the performance of our core consolidated owed portfolio of communities, to review the Company’s comparable historic and prospective core operating performance of the consolidated owned communities, and to make day-to-day operating decisions; (ii) they provide an assessment of operational factors that management can impact in the short-term, namely revenues and the controllable cost structure of the organization, by eliminating items related to the Company’s financing and capital structure and other items that management does not consider as part of the Company’s underlying core operating performance, and impacts the comparability of performance between periods.Community Net Operating Income, Net Community Operating Income Margin, Adjusted Community Net Operating Income, and Adjusted Community Net Operating Income Margin have material limitations as a performance measure, including: (i) excluded general and administrative expenses are necessary to operate the Company and oversee its communities; (ii) excluded interest is necessary to operate the Company’s business under its current financing and capital structure; (iii) excluded depreciation, amortization, and impairment charges may represent the wear and tear and/or reduction in value of the Company’s communities, and other assets and may be indicative of future needs for capital expenditures; and (iv) the Company may incur income/expense similar to those for which adjustments are made, such as gain (loss) on debt extinguishment, gain(loss) on disposition of assets, loss on settlements, non-cash stock-based compensation expense, and transaction and other costs, and such income/expense may significantly affect the Company’s operating results.(in thousands)Three Months EndedJune 30,Three Months Ended March 31,202320222023Consolidated Community Net Operating IncomeNet income (loss)$(12,212)$(7,410)$24,145General and administrative expenses6,5749,4397,063Depreciation and amortization expense9,9279,6719,881Interest income(188)(2)(194)Interest expense8,5587,9208,867Gain on extinguishment of debt——(36,339)Gain on sale of assets, net——(251)Other (income) expense (1)117(8,532)62Provision for income taxes53—69Settlement fees and expenses, net (2)55939404Other taxes161(483)(305)Consolidated community net operating income13,54910,64213,402Resident revenue$56,960$51,996$56,606Consolidated community net operating income margin23.8%20.4%23.7%COVID-19 state relief grants (3)4115242,037Adjusted community net operating income$13,138$10,118$11,365Adjusted community net operating income margin23.2%19.6%20.8%(1) Includes $9.1 million federal relief funds received for Q2 2022.(2) Settlement fees and expenses relate to non-recurring settlements with third parties for contract terminations, insurance claims, and related fees.(3) COVID-19 relief revenue are grants and other funding received from third parties to aid in the COVID-19 response and includes state relief funds received.ADJUSTED EBITDA (UNAUDITED)Adjusted EBITDA is a non-GAAP performance measures that the Company defines as net income (loss) excluding: depreciation and amortization expense, interest income, interest expense, other expense/income, provision for income taxes; and further adjusted to exclude income/expense associated with non-cash, non-operational, transactional, or organizational restructuring items that management does not consider as part of the Company’s underlying core operating performance and impacts the comparability of performance between periods. For the periods presented herein, such other items include stock-based compensation expense, provision for bad debts, gain (loss) on extinguishment of debt, gain on sale of assets, long-lived asset impairment, casualty losses, and transaction and conversion costs.The Company believes that presentation of Adjusted EBITDA’s impact as a performance measure is useful to investors because it provides an assessment of operational factors that management can impact in the short-term, namely revenues and the controllable cost structure of the organization, by eliminating items related to the Company’s financing and capital structure and other items that management does not consider as part of the Company’s underlying core operating performance and that management believes impact the comparability of performance between periods.Adjusted EBITDA has material limitations as a performance measure, including: (i) excluded interest is necessary to operate the Company’s business under its current financing and capital structure; (ii) excluded depreciation, amortization and impairment charges may represent the wear and tear and/or reduction in value of the Company’s communities and other assets and may be indicative of future needs for capital expenditures; and (iii) the Company may incur income/expense similar to those for which adjustments are made, such as bad debts, gain(loss) on sale of assets, or gain(loss) on debt extinguishment, non-cash stock-based compensation expense and transaction and other costs, and such income/expense may significantly affect the Company’s operating results.(In thousands)Three Months EndedJune 30,Three Months EndedMarch 31,202320222023Adjusted EBITDANet income (loss)$(12,212)$(7,410)$24,145Depreciation and amortization expense9,9279,6719,881Stock-based compensation expense6012,240902Provision for bad debt96416238Interest income(188)(2)(194)Interest expense8,5587,9208,867Gain on extinguishment of debt, net——(36,339)Gain on sale of assets, net——(251)Other (income) expense, net (1)117(8,532)62Provision for income taxes53—69Casualty losses (2)456(114)—Transaction and conversion costs (3)13047414Adjusted EBITDA$7,538$4,236$7,794(1) Includes COVID-19 relief revenue and grants received from federal relief funds of $9.1 million for Q2 2022.(2) Casualty losses relate to non-recurring insured claims for unexpected events.(3) Transaction and conversion costs relate to legal and professional fees incurred for transactions, restructure projects, or related projects.SUPPLEMENTAL INFORMATIONSecond Quarter(Dollars in thousands)20232022Increase (decrease)First Quarter 2023Sequential increase (decrease)Selected Operating ResultsI. Consolidated community portfolioNumber of communities6262—62—Unit capacity5,7535,774(21)5,7494Weighted average occupancy (1)83.9%82.7%1.2%84.0%(0.1)%RevPAR$3,300$3,002$298$3,282$18RevPOR$3,932$3,629$303$3,909$23Consolidated community net operating income$13,549$10,642$2,907$13,402$147Consolidated community net operating income margin (3)23.8%20.4%3.4%23.7%0.1%Consolidated community net operating income, net of general and administrative expenses (2)$7,576$3,443$4,133$7,241$335Consolidated community net operating income margin, net of general and administrative expenses (2)13.3%6.6%6.7%12.8%0.5%II. Consolidated Debt Information(Excludes insurance premium financing)Total variable rate mortgage debt (4)$137,253$130,261N/A$137,453N/ATotal fixed rate debt$499,078$540,714N/A$500,721N/A(1) Weighted average occupancy represents actual days occupied divided by total number of available days during the quarter.(2) General and administrative expenses exclude stock-based compensation expense in order to remove the fluctuation in fair value due to market volatility.(3) Includes $0.4 million, $0.5 million, and $2.0 million of state grant revenue received in Q2 2023, Q2 2022, and Q1 2023, respectively. Excluding the grant revenue, Q2 2023 consolidated community NOI margin was 23.2%.(4) As of June 30, 2023, the entire balance of our outstanding variable-rate debt obligations were covered by interest rate cap agreements.View source version on businesswire.com: https://www.businesswire.com/news/home/20230814447134/en/ContactsInvestor Contact: Kevin J. Detz, Chief Financial Officer, at 972-308-8343Press Contact: [email protected].

Business Wire

Sonida Senior Living, Inc. Announces Second Quarter 2023 Results

https://finance.yahoo.com/news/sonida-senior-living-inc-announces-100000252.html

3fcbb744-32f4-3d2e-be85-6d693b934610

SNDA

On September 7, 2023, Timothy Cober, VP & Chief Accounting Officer of Sonida Senior Living Inc (NYSE:SNDA), purchased 3,430 shares of the company. This move is significant as insider buying can often be a positive indicator for the company's future performance.Warning! GuruFocus has detected 3 Warning Signs with SNDA. Click here to check it out. SNDA 30-Year Financial DataThe intrinsic value of SNDATimothy Cober is a seasoned executive with a wealth of experience in the senior living industry. As the VP & Chief Accounting Officer of Sonida Senior Living Inc, he plays a crucial role in the company's financial operations and strategic planning. His decision to increase his stake in the company is a strong vote of confidence in its future prospects.Sonida Senior Living Inc is a leading provider of senior living services in the United States. The company operates a network of communities offering a range of care options, including independent living, assisted living, memory care, and skilled nursing. Sonida's mission is to enhance the lives of seniors by providing high-quality care and services in a warm, welcoming environment.Over the past year, the insider has purchased a total of 3,430 shares and sold 0 shares. This trend of insider buying is a positive sign, as it suggests that those with the most insight into the company's operations are bullish about its future.Insider Buying: Timothy Cober Acquires 3,430 Shares of Sonida Senior Living Inc (SNDA)The insider transaction history for Sonida Senior Living Inc shows a total of 8 insider buys over the past year, with no insider sells. This trend further reinforces the positive sentiment among the company's insiders.On the day of the insider's recent buy, shares of Sonida Senior Living Inc were trading at $7.42, giving the company a market cap of $58.334 million. Despite this relatively modest market cap, the company's stock appears to be modestly undervalued based on its GuruFocus Value.Insider Buying: Timothy Cober Acquires 3,430 Shares of Sonida Senior Living Inc (SNDA)With a price of $7.42 and a GuruFocus Value of $9.15, Sonida Senior Living Inc has a price-to-GF-Value ratio of 0.81. This suggests that the stock is modestly undervalued, potentially offering a good entry point for investors.Story continuesThe GF Value is an intrinsic value estimate developed by GuruFocus. It is calculated based on historical multiples that the stock has traded at, a GuruFocus adjustment factor based on the company's past returns and growth, and future estimates of business performance from Morningstar analysts.In conclusion, the recent insider buying activity at Sonida Senior Living Inc, coupled with the stock's modest undervaluation, suggests that the company could be an attractive investment opportunity. As always, investors should conduct their own due diligence before making investment decisions.This article first appeared on GuruFocus.

GuruFocus.com

Insider Buying: Timothy Cober Acquires 3,430 Shares of Sonida Senior Living Inc (SNDA)

https://finance.yahoo.com/news/insider-buying-timothy-cober-acquires-050241077.html

a88607a2-0920-35d9-ab53-eeca65ae9ea8

SNOW

Each of these growth stocks stands to benefit from the rising effectiveness of artificial intelligence.Continue reading

Motley Fool

Best Artificial Intelligence (AI) Stock to Buy: Snowflake Stock vs. UiPath Stock

https://finance.yahoo.com/m/1fe48a01-060c-3eb6-b5fe-40fb700d10fe/best-artificial-intelligence.html

1fe48a01-060c-3eb6-b5fe-40fb700d10fe

SNOW

Growth from this company has topped key peers like Snowflake and Databricks, but that may not last long.Continue reading

Motley Fool

1 Top Growth Stock Transforming Into an AI Software Platform

https://finance.yahoo.com/m/00f0d0b4-b01f-373a-a374-f1a3535bf25a/1-top-growth-stock.html

00f0d0b4-b01f-373a-a374-f1a3535bf25a

SNPO

ParticipantsAshley Swenson; SVP of Marketing; Snap One Holdings Corp.Eric Steele; Senior VP of Finance & VP of IR; Snap One Holdings Corp.John H. Heyman; CEO & Director; Snap One Holdings Corp.Michael Carlet; CFO; Snap One Holdings Corp.Erik William Richard Woodring; Research Associate; Morgan Stanley, Research DivisionJake NorrisonPresentationOperatorGood afternoon. Welcome to Snap One Holdings Fiscal Second Quarter 2023 Earnings Conference Call. (Operator Instructions)I would now like to turn the call over to Snap One's Senior Vice President of Finance, Eric Steele. Sir, please proceed.Eric SteeleGreat. Thank you. Good afternoon, and welcome to Snap One's fiscal second quarter 2023 earnings conference call. As a reminder, this call is being recorded. Joining us today from Snap One are John Heyman, CEO; and Mike Carlet, CFO.Before we begin, we would like to remind everyone that our prepared remarks contain forward-looking statements, and management may make additional forward-looking statements in response to your questions, including, but not limited to statements of expectations, future events or future financial performance. These statements do not guarantee future performance, and therefore, undue reliance should not be placed upon them. Although we believe these expectations are reasonable, we undertake no obligation to revise any statements to reflect changes that occur after this call. Actual events or results could differ materially. These statements are based on current expectations of the company's management and involve inherent risks and uncertainties, including those identified in the Risk Factors section of our latest annual report on Form 10-K filed with the SEC, and our most recent quarterly report on Form 10-Q.All non-GAAP financial measures referenced in today's call are reconciled in our earnings press release to the most directly comparable GAAP measure. This call also contains time-sensitive information that is accurate only as of the time and date of this broadcast, August 8, 2023. Finally, I would like to remind everyone that this conference call is being webcast and a recording will be made available for replay on our Investor Relations website at investors.snapone.com. In addition to the webcast, we have posted a supplemental earnings presentation accompanying these results, which can also be found on our Investor Relations website.I will now turn the call over to our CEO, John Heyman. John?Story continuesJohn H. HeymanThank you, Eric, and welcome, everyone, and thanks for joining us this afternoon. To begin today's discussion, I'm going to give some company background, followed by a review of our recent performance, and then I'll turn the call over to Mike Carlet, our CFO. He will discuss our financial results for the quarter in more depth, as well as provide our outlook for the remainder of the year. After that, I'll share some closing remarks before opening the call for questions.Let's get started. As a reminder, at Snap One, we provide a smart living platform that empowers professional integrators to deliver joy, connectivity and security to discerning residential and commercial customers on a global scale. As a leading distributor of these integrators, we work with our growing network of approximately 20,000 do-it-for-me integrators to distribute our proprietary and third-party products through our e-commerce portal and local branches. We further support our integrated partners with our proprietary software platforms and workflow solutions to allow them to successfully serve their customers across the project life cycle.We believe the smart living opportunity is large and durable. Secular tailwinds, including technology adoption, software enablement, housing construction and small business formation will continue to propel the industry and our company forward. Many end users will seek professional health to select, install, integrate and support the technology solutions they require. At Snap One, we aim to provide our integrator partners with the right products, software, services and workflow tools to capitalize on the smart living opportunity.I'll turn now to our recent performance. Our team delivered solid Q2 results, including $274.4 million in net sales and $31.7 million in adjusted EBITDA, while ongoing channel inventory destocking impacted top line results, as anticipated, we are executing on our product development, go-to-market and margin enhancement strategies. We drove a sequential quarterly improvement in contribution margin rate from 42.1% of net sales in Q1 to 42.7% of net sales in Q2 as we continue to extract costs from our supply chain.Additionally, our focus on disciplined cost and investment management is expanding operating margins for the business. We continue to see stability in the demand environment amid the broader macroeconomic uncertainty. First, our partners continue to indicate that they are sustaining healthy backlogs in their own businesses. Our diversified business model and product portfolio allow us to serve integrator partners across a variety of residential and commercial end markets, which supports our partners' ability to pivot projects and adapt to the current environment.Also, while we're hearing some cautiousness from more budget-oriented end customers for entry-level projects, we believe that the high-end residential and growing commercial markets remain resilient. Second, the macroeconomic backdrop, which has proved volatile in recent quarters, showed some sequential improvement across several indicators, including homebuilder confidence, luxury home market health and overall U.S. consumer confidence. All signs point to a housing market that notwithstanding shorter-term headwinds around interest rates and inventory availability will be quite robust while we look over the next decade.As we reflect on our second quarter performance and look ahead to the remainder of the year, we are focused on two key strategic initiatives for '23. One, driving higher product adoption by our partners and in turn, delivering far better end customer experiences. And two, expanding our operating margins through several key programs, which have already yielded very positive results.I'll take a few minutes to address each of these in the context of our second quarter results and the rest of the year outlook. First, partner adoption. Following a period of significant supply chain uncertainty, we believe we are well positioned to drive significant adoption of our products with a multipronged approach that includes both introducing new products and software and refining our go-to-market strategy. Coming off of strong first quarter of product launches, we continue delivering new product innovation and enhanced software platform capabilities in the second quarter, including the introductions of exciting new solutions across audio, control, surveillance and networking.A few important highlights include. One, the core light controller, which offers our partners a simple and profitable solution for single-room applications. completing what we believe to be the industry's most robust lineup of controllers and makes an entry-level Control4 ecosystem more accessible. Two, the Triad passive soundbars product line, which underscores our continued investments in premium audio solutions for our partners. And three, continued product innovation designed for the commercial market, including multi-gig Araknis routers and award-winning Strong Carbon Series mounts.Finally, I'd be remiss not to mention our July launch of the flagship Halo Touch. Our latest touchscreen remote that also enables voice interaction with our systems. Together, these exciting launches strengthen our product portfolio and help us set a strong foundation for a robust pipeline of continuous innovation for Snap One. Our partners recognized this innovation by ranking us a top 5 brand 45x across 62 product subcategories in the 2023 CE Pro 100 Brand Analysis awards, which represents 5x the number of recognitions of the next closest competitor. As our product offerings become more software-centric, we continue to invest in both our overseas and Control4 software platforms. These platforms provide for value-added services, which we plan to build upon in the near future.Also, we continue to make progress on our go-to-market strategy, as we pursue growth opportunities in new markets. First, we completed the conversion of our legacy Snap AV and Control4 domestic e-commerce portals to a single platform in order to enable our partners to engage with us more efficiently, allow us to drive marketing programs with higher efficacy and streamline our internal operations. Second, we continue to leverage our best-in-class loyalty program to drive product category and ecosystem adoption and to further strengthen product adoption by our partners.And finally, we've continued investing in our strategic omnichannel presence, including the opening of our new Raleigh location in July and several anticipated additional branch openings in the second half of the year. Our second strategic initiative is driving operating margin expansion. During COVID and the supply chain crisis, we made a number of decisions that focused on keeping our partners in business. Fees range from inefficiencies from securing and expediting product and components rate to numerous research and development pivots based on abrupt changes in ship availability.As the supply chain has normalized, we are returning to our operational cadence of driving lower unit costs and freeing up our product teams to do what they do best, build new products. We're also driving scale within our operating model, integration activity related to previously completed acquisitions, as well as investments we have been making within our technology infrastructure are starting to yield results. These investments will support our operating growth -- operating margin growth expectations throughout the remainder of 2023.Let me now comment briefly on our outlook before turning the call over to Mike. With the first half of the year now complete, our full year 2023 outlook remains positive, as we seek to move past the channel inventory destocking headwind, drive operating margin expansion and enhance our liquidity position. Also, our continued contribution margin rate expansion and disciplined cost structure management provide us with confidence in our profitability expectations.Therefore, we are reaffirming our outlook for both net sales and adjusted EBITDA for 2023, which Mike will discuss in further detail. We believe that growth in smart living adoption, the central role of the integrator in providing holistic solutions, our competitive differentiation and our coming service innovations will enable us to prosper in a dynamic macro environment and will propel us -- propel -- excuse me, people our long-term success.With that, I'll turn it over to Mike, our CFO, to discuss our second quarter financial results and '23 outlook in greater detail. Mike?Michael CarletThanks, John. Let's turn now to our financial results for the fiscal second quarter ended June 30, 2023. Net sales in the fiscal second quarter decreased 7.6% to $274.4 million, down from $296.9 million in the comparable year ago period. The anticipated decrease in net sales during the quarter reflects the channel inventory destocking headwind that John mentioned earlier. We estimate that approximately $35 million of channel inventory sell-in occurred in Q2 of 2022 and approximately $10 million destocked in Q2 of 2023, representing a year-over-year top line headwind of approximately $45 million.After adjusting for our estimates of the channel inventory destocking impact, we believe we delivered year-over-year net sales growth of approximately 8% in the second quarter. Continuing with the channel inventory topic, our data indicates that integrators have been working through their excess inventory since door levels peaked around mid-2022. And we expect the sell-down to continue at a moderate rate through the second half of this year. As we survey our integrator partners, there is some indication that they may be adapting to a new normal level of higher inventory on hand. We continue to believe that the industry will arrive at this new normal by the end of this year, and we will stabilize going forward.Contribution margin, a non-GAAP measurement of operating performance increased 0.6% to $117.2 million or 42.7% of net sales in the fiscal second quarter, that's up from $116.5 million or 39.2% of net sales in the comparable year ago period. Contribution margin as a percentage of net sales increased due to the cumulative impact of our price adjustments enacted in response to supply chain and input cost inflation, which has continued to ease. Our selling, general and administrative expenses in our fiscal second quarter decreased 1.7% to $93.8 million or 34.2% of net sales from $95.4 million or 32.1% of net sales in comparable year ago period.Decrease in SG&A expense was primarily attributable to lower variable expenses as a result of the lower sales base in Q2 2023. In addition, we incurred lower equity-based compensation in 2023. Our net loss totaled $0.1 million in the second quarter compared to a net loss of $1.3 million in the comparable year ago period. Adjusted EBITDA, a non-GAAP measurement of operating performance totaled $31.7 million or 11.5% of net sales in the 2023 second quarter compared to $31.7 million or 10.7% of net sales in the comparable year ago period. These changes were primarily attributable to contribution margin growth and reduced SG&A expenses, offset by lower net sales, including the headwinds generated by inventory in the channel destocking.Adjusted net income, a non-GAAP measurement of operating performance decreased 13.1% to $14.3 million or 5.2% of net sales from $16.5 million or 5.6% of net sales in the comparable year ago period. Free cash flow, a non-GAAP measurement of operating performance totaled $9.7 million in the six months ended June 30, 2023, compared to negative $26 million in the comparable year ago period. The increase in free cash flow was primarily attributable to the working capital benefit associated with the reduction in inventory levels. We believe that we remain on track to reduce inventory to the previously communicated $275 million target by the end of the year. At the end of the fiscal second quarter, we had approximately $100.9 million in total liquidity, including cash and cash equivalents of $33.8 million and undrawn revolver capacity of $67.1 million.Now before I turn the call back over to John, I'll take just a few minutes to provide our financial outlook for the rest of the fiscal year 2023. As a reminder, Snap One provides annual guidance for net sales as well as for adjusted EBITDA, as we believe these metrics to be key indicators for the overall performance of our business. Our fiscal 2023 guidance considers our first half 2023 performance, as well as our ongoing expectation that market uncertainty will persist throughout the remainder of the year. With these factors in mind, we are reaffirming our previously communicated full year outlook. We continue to expect net sales in the fiscal year ending December 29, 2023, to range between $1.06 billion and $1.09 billion, which will represent a decrease of 5.7% to 3% compared to the prior fiscal year on an as-reported basis.We also continue to expect adjusted EBITDA to range between $110 million and $118 million, representing a decrease of 3.6% to an increase of 3.4% compared to the prior fiscal year on an as-reported basis. Our adjusted EBITDA guidance reflects our ongoing focus to drive incremental adjusted EBITDA margin expansion in 2023. We have already made significant strides in this area, and we expect to continue to drive year-over-year improvement in the coming quarters through contribution margin rate improvement as supply chain and input costs normalize, as well as through disciplined operating expense management.That completes my summary. I'll now turn the call back over to you, John.John H. HeymanThank you, Mike. A few closing thoughts before we hit Q&A. First, we are proud of our team's ability to deliver steady EBITDA compared to the same period last year and expand our operating margins, despite the headwinds that we've referred to. And we remain confident in our expectations for consistent long-term growth. Through two quarters, we've made strong gains in our contribution margin as costs related to the supply chain continue to alleviate, and we believe our operating margin expansion plan is on track.Two, we remain committed to our overarching strategy. This includes growth via new proprietary product launches and market-leading service, growth in new markets such as commercial and security, additional local branch openings and transformational software investments, all with our partners' top of mind. Even in an uncertain operating environment, we continue to strive to be the one partner that our innovators trust to support and grow their businesses.Third, and as I said before, we believe that all homes and all businesses will become smarter over the next decade, driving demand for the types of experiences we offer today and those we can only imagine in the future. We've invested in scale and platforms that will drive better solutions for the consumer, more capacity for the integrator and growth for Snap One in a way that increases operating margins over time.And with that, Grace, please open the call for Q&A.Question and Answer SessionOperator(Operator Instructions) Our first question comes from the line of Erik Woodring with Morgan Stanley.Erik William Richard WoodringNice quarter. Can you, John, maybe just elaborate a bit more on your customer conversations? Just how they've trended in the last 90 days? And the reason I ask is, we've heard from some other, let's call it, integrated -- excuse me, distributors or smart home vendors that residential AV demand was maybe a bit weaker in the quarter. Clearly, your comments wouldn't suggest so. So just how have customer conversations trended? How are integrators feeling about their business? Maybe just a little double clicking on that original comment would be helpful. And then I have a follow-up for you.John H. HeymanYes. Erik, obviously, we speak with our customers quite a bit. Rather than share kind of anecdotal conversations with you, I think what we've learned is to best rely on data and where we get the best data is through our surveys and through other surveys and through visibility into what's happening into proposal work out there. And what I'll first say is, I think there is a slight decline in backlogs. So that is something that's evident. Yes, it's still very healthy. I would characterize the decline in backlogs as low single-digits, in terms of percentages.And so, then you have to kind of double click when you're talking about residential as to kind of the segments. So clearly, we've seen some weakness in what I'll call the general production builder segment. That's where our security products play more. On the other side of the coin, what we're seeing in kind of our core residential AV market, where as we said and as the backlogs would indicate, their capacity was a limiting factor during our growth. It's also something that I think has protected us from kind of what might be happening in certain end markets. And so, that would be the second factor.And then the third factor I'll cite is our products. Like we have really amazing products, and they're only getting better this year. And I think as the CE Pro 100 survey would say, as we see another data, we're winning share out there. And so, our products are only available from us, they're not available from any other distributor. And I think that's kept our business strong.Michael CarletErik, it's Mike. Let me just put one thing on top of that. As you talk about other folks, I don't want to speak for them, but I'm not sure how they will be considering the channel inventory as they talk about demand being down. And so, I think everybody has to think about the impact of channel inventory on their own demand factors. And we're talking about excluding the inventory impacts our demand, we feel it's up a little bit, but [also] channel inventory is a negative against that.Erik William Richard WoodringOkay. No, that's very clear. Very helpful color from both of you guys. My second question maybe for you, Mike is, clearly non-GAAP contribution margin saw a nice tailwind from pricing. I think it was a four point tailwind year-over-year in the quarter. Can you maybe just remind us exactly when you raise prices historically by how much? And then what pricing actions you're taking in the market today, if any? And that's it for me.Michael CarletErik, yes over the last couple of years, I would say we've had a number of pricing actions. If you go all the way back to August of '21, we raised price about 6%, we raised price another 6% in February '22, about 9% in June and been very minimal activity since then. So all that is now sort of behind us. In fact, with our last price increase being last June, when we get to Q3 on a year-over-year comparative basis, pricing will not be a factor as we think about the sales comparative.OperatorOur next question comes from the line of Jake Norrison with Raymond James.Jake NorrisonJust double clicking on the integrators. I'm wondering if you could provide us any color on the mix of integrated ads and how that's been trending? And then more broadly, how has integrated churn metrics been looking as backlog has picked up? When do those typically get more volatile? More color there would be helpful.Michael CarletJake, it's Mike. We don't disclose integrated accounts on a quarterly basis. Annually, we'll talk about those numbers once a year, but we don't talk about it on a quarterly basis. I can tell you that underneath it, our integrated accounts is very consistent with historical norms. There is not a lot of fluctuation in it right now. I think our industry is not adding tons and tons of integrators. We're winning more integrators of the business, and we're seeing the normal very low levels of churn. One of the great things about our business is, our integrators tend to be pretty profitable. They tend to stay in business for a long time. And so, very little churn, and we're seeing the same consistent sort of integrated accounts that we have historically.Jake NorrisonOkay. Perfect. And then just quickly, looking at the rest of 2023, if you could just provide more color on how you're looking at the mix of proprietary versus third-party playing out, especially with the sort of supply chain tailwinds as you talked about.Michael CarletYes. Let me one second to (inaudible). I think as we sit here today, when we talk about the mix of products, our 1P mix over the last couple of quarters has been between 67% to 68%. Generally, that stays pretty consistent. We don't expect to see much movement. Remember, in Q4, we always see the percentage of three key products pick up a little bit. A lot of other consumer products are doing end-of-year discounting and holiday promotions. So we do see it move a little bit.We continue to look to see on a same-store basis, a slight increase in our 1P mix. However, as we add more local stores, that always dragged it down a little bit. And so, we expect over the next couple of years as we continue to grow our store base to see a small decrease in the 1P mix. But we don't expect it to move dramatically from where it is right now.Operator(Operator Instructions)Ashley SwensonHi, Grace. If there's no more questions, I think we are fine to end the call.John H. HeymanWell, let me just quickly thank everyone, Ashley, for joining us today. I want to especially thank our team members for their ongoing contributions as well as our network of incredible integration partners who continue to do great work, creating amazing experiences for individuals and businesses everywhere. And I'd like to also thank our investors for your continued support. We'll talk to you next quarter. Grace?OperatorThank you for joining us today for Snap One's fiscal second quarter 2023 earnings conference call. You may now disconnect.

Thomson Reuters StreetEvents

Q2 2023 Snap One Holdings Corp Earnings Call

https://finance.yahoo.com/news/q2-2023-snap-one-holdings-124817028.html

6dd94eda-3504-31cf-ac73-379b4ea86280

SNPO

Snap One, LLCCHARLOTTE, N.C., Aug. 23, 2023 (GLOBE NEWSWIRE) -- Snap One Holdings Corp. (Nasdaq: SNPO) (“Snap One” or the “Company”), a provider of smart living products, services, and software to professional integrators, is scheduled to participate at the following financial conferences and industry trade shows this fall:Jefferies Industrials ConferenceDate: Wednesday, September 6, 2023Format: In-Person Fireside Chat, 1x1 MeetingsLocation: New York, NYCEDIA Expo/Commercial Integrator Expo 2023Date: Wednesday-Saturday, September 6-9, 2023Format: Trade Show Floor Company ExhibitBooth #: 1512Location: Denver, COInformation and Registration: HereFor additional information, please contact your financial institution’s representative or Snap One’s investor relations team at [email protected] or 949-574-3860.About Snap OneAs a leading distributor of smart living technology, Snap One empowers its vast network of professional integrators to deliver entertainment, connectivity, automation, and security solutions to residential and commercial end users worldwide. Snap One distributes an expansive portfolio of proprietary and third-party products through its intuitive online portal and local branch network, blending the benefits of e-commerce with the convenience of same-day pickup. The Company provides software, award-winning support, and digital workflow tools to help its integrator partners build thriving and profitable businesses. Additional information about Snap One can be found at snapone.com.ContactsMedia:Danielle KarrDirector, Public Relations & [email protected]:Tom Colton and Matt GloverGateway [email protected]

GlobeNewswire

Snap One Holdings Corp. Sets Fall 2023 Financial Conference and Industry Trade Show Schedule

https://finance.yahoo.com/news/snap-one-holdings-corp-sets-201000951.html

2d3d1b64-bcc4-3a4b-a0fe-850364771ea3

SNPS

The Dow Jones Industrial Average dropped Thursday after initial unemployment claims. Apple stock dived on an expanded China ban.Continue reading

Investor's Business Daily

Dow Jones Falls After Surprise Jobless Claims; Apple Dives On Expanded China Ban

https://finance.yahoo.com/m/148e9e10-a8a4-327a-91a5-1bfb2cb33e70/dow-jones-falls-after.html

148e9e10-a8a4-327a-91a5-1bfb2cb33e70

SNPS

Synopsys SNPS recently unveiled Synopsys.da, an extension to its existing Electronic Design Automation (“EDA”) Solution called Synopsis.ai. This new upgrade will allow chipmakers to obtain actionable design insights to uncover power, performance and area (PPA) opportunities in all stages of the integrated circuit (IC) chip development process.Synopsys' EDA Solution has been used for chip-design optimization. The company has been focusing on enhancing its capabilities by introducing AI-driven tests and verification flows.With the addition of this new extension, the EDA is expected to gain the capability to analyze extensive streams of data related to fab equipment process control. This analysis will result in enhanced operational efficiencies as well as the optimization of product quality and fab yield.Synopsys Benefits From a Strong Partner BaseSynopsys benefits from an expanding partner base that includes the likes of Intel INTC, Advanced Micro Devices AMD, Juniper Networks, Realtek, Teradici, NetLogic Microsystems, Toshiba and Wolfson.Intel entered a strategic partnership with Synopsis in August 2023. The collaboration between these two leading chip makers was aimed at leveraging Intel’s extensive network of chip foundry factories while using Synopsys’ IP and EDA technology. This partnership is part of Intel's efforts to regain its position as the leading chip manufacturer by 2025.Synopsys, Inc. Price and ConsensusSynopsys, Inc. Price and ConsensusSynopsys, Inc. price-consensus-chart | Synopsys, Inc. Quote In March 2023, Advanced Micro Devices and Synopsys collaborated to enable their mutual customers to use the latest generation of AMD EPYC processors. Synopsys offered a comprehensive portfolio of EDA solutions tailored specifically for use with AMD EPYC processors.Zacks Rank & Another Stock to ConsiderSynopsis currently has a Zacks Rank #2 (Buy).Synopsys shares have rallied 43.5% year to date, outperforming the Zacks Computer and Technology sector’s return of 39.7%.NVIDIA NVDA is a top-ranked stock in the broader sector, currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.NVIDIA’s long-term earnings growth is pegged at 13.5%.Story continuesWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportIntel Corporation (INTC) : Free Stock Analysis ReportAdvanced Micro Devices, Inc. (AMD) : Free Stock Analysis ReportNVIDIA Corporation (NVDA) : Free Stock Analysis ReportSynopsys, Inc. (SNPS) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Synopsys (SNPS) Adds New Extension to Its Synopsys.ai EDA

https://finance.yahoo.com/news/synopsys-snps-adds-extension-synopsys-155900088.html

7b30744f-99a1-3773-8fa5-bbb36ffbf028

SNX

FREMONT, Calif. & CLEARWATER, Fla., September 05, 2023--(BUSINESS WIRE)--TD SYNNEX (NYSE: SNX) today announced it will report its financial results for the third quarter of fiscal 2023 before the U.S. market opens on Tuesday, September 26, 2023. A conference call to review the results will be held at 6:00 a.m. PT / 9:00 a.m. ET the same day, hosted by Rich Hume, CEO, and Marshall Witt, CFO.The quarterly earnings press release and a live audio webcast of the earnings call will be accessible at ir.tdsynnex.com, and a replay of the webcast will be available following the call.About TD SYNNEXTD SYNNEX (NYSE: SNX) is a leading global distributor and solutions aggregator for the IT ecosystem. We’re an innovative partner helping more than 150,000 customers in 100+ countries to maximize the value of technology investments, demonstrate business outcomes and unlock growth opportunities. Headquartered in Clearwater, Florida, and Fremont, California, TD SYNNEX’s 23,500 co-workers are dedicated to uniting compelling IT products, services and solutions from 1,500+ best-in-class technology vendors. Our edge-to-cloud portfolio is anchored in some of the highest-growth technology segments including cloud, cybersecurity, big data/analytics, AI, IoT, mobility and everything as a service. TD SYNNEX is committed to serving customers and communities, and we believe we can have a positive impact on our people and our planet, intentionally acting as a respected corporate citizen. We aspire to be a diverse and inclusive employer of choice for talent across the IT ecosystem. For more information, visit www.TDSYNNEX.com or follow us on LinkedIn, Facebook and Instagram.Safe Harbor StatementStatements in this news release that are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 involve known and unknown risks and uncertainties which may cause the Company's actual results in future periods to be materially different from any future performance that may be suggested in this release. The Company assumes no obligation to update any forward-looking statements contained in this release.Story continuesCopyright 2023 TD SYNNEX Corporation. All rights reserved. TD SYNNEX, the TD SYNNEX Logo, and all other TD SYNNEX company, product and services names and slogans are trademarks of TD SYNNEX Corporation. Other names and trademarks are the property of their respective owners.View source version on businesswire.com: https://www.businesswire.com/news/home/20230905056192/en/ContactsLiz MoraliInvestor [email protected] EagleGlobal Corporate [email protected]

Business Wire

TD SYNNEX to Announce Third Quarter Fiscal 2023 Results on September 26, 2023

https://finance.yahoo.com/news/td-synnex-announce-third-quarter-200500754.html

e4ee6207-d3a6-398d-92c5-3d398c016be4

SNX

In this article we present the list of 10 Best Performing Small-cap ETFs in 2023. Click to skip past our analysis of small-cap stocks and ETFs and go straight to the 5 Best Performing Small-cap ETFs in 2023.Axon Enterprise, Inc. (NASDAQ:AXON), Alarm.com Holdings, Inc. (NASDAQ:ALRM), and Embraer S.A. (NYSE:ERJ) are a few of the small-cap stocks that are major holdings in some of the best performing small-cap ETFs this year.The top small-cap ETFs haven’t been able to crack the Top 10 Best Performing ETFs of 2023, which is headlined by several tech-focused ETFs, including ARK Investment Management’s Ark Fintech Innovation ETF (ARKF), which has gained 45.9% this year. To check out some of the hottest ETFs in this sector, don’t miss the 10 Best Semiconductor ETFs.Nonetheless it has been a decent year for small-cap stocks and the ETFs that are focused on them, as the Russell 2000 Index has posted gains of 6% this year. Those year-to-date gains were as high as 14% a little over a month ago, but small-cap stocks were dinged heavily in the first-half of August, contributing to more than half their gains being wiped out.The longer-term outlook for small-cap stocks looks far more promising, which could make small-cap focused funds among the best ETFs to buy and hold for the long term. Bank of America Securities encouraged investors to begin adding small-caps to their portfolios heading into 2023, with the firm projecting that small-caps will grow at a 12% annual rate over the next decade compared to just 5% growth for the S&P 500.Given the volatile nature of investing in individual small-cap stocks, it makes far more sense for investors to seek out indexes of those companies, giving them some added stability through strength in numbers while still retaining the upside growth potential that small-caps possess. If you’re interested in other great portfolio diversification options, check out the 20 Biggest ETFs by Volume.The strong performance of 2023’s best performing ETFs has certainly renewed the interest in them among the investing community. ETF net flows (the difference between inflows minus outflows) was a relatively muted $80 billion in Q1, but that figure jumped to $130 billion in the latest quarter. Actively managed ETFs captured a much larger percentage of that flow, at about 17%, than its overall representation in the ETF marketplace, which stands at a paltry 6%.Story continuesGiven that many of the best Performing ETFs have been tech-focused (check out the 10 Best Performing Technology ETFs in 2023), a good deal of those flows were directed towards tech sector ETFs, though the consumer discretionary and communications services sectors pulled in slightly higher flows during Q2. On the other hand, investors were bailing on ETFs in the energy, materials, and real estate sectors.Let’s now dig into the 10 Best Performing Small-cap ETFs in 2023 and look into some of the most prominent small-cap stocks being held by those funds.10 Best Performing Small-cap ETFs in 2023myriam-jessier-eveI7MOcSmw-unsplashOur MethodologyThe following data is gathered from a leading ETF screener that was filtered to only include small-cap focused ETFs (though some of them do also contain mid-cap companies). The ETFs have been ranked in ascending order based on their year-to-date returns. Holdings data was taken directly from each ETF’s information page on that fund manager’s website.All hedge fund data is based on the exclusive group of 900+ funds tracked by Insider Monkey that filed 13Fs for the Q2 2023 reporting period. We follow hedge funds like ARK Investment Management because Insider Monkey’s research has uncovered that their consensus stock picks can deliver outstanding returns.10 Best Performing Small-cap ETFs in 202310. Roundhill Acquirers Deep Value ETF (DEEP)Year-to-Date Returns: 11.7% Embraer S.A. (NYSE:ERJ), Axon Enterprise, Inc. (NASDAQ:AXON), and Alarm.com Holdings, Inc. (NASDAQ:ALRM) are the top holdings of three of the five best performing ETFs among small-cap-focused funds. WW International, Inc. (NASDAQ:WW) is likewise the top holding of the tenth-best performing small-cap ETF so far this year, the Roundhill Acquirers Deep Value ETF (DEEP).The small-cap value equities fund, which aims to invest in small, highly undervalued U.S. stocks, has 102 holdings, with WW International, Inc. (NASDAQ:WW) carrying the highest weighting in the portfolio at 1.38%. DEEP is one of the smaller ETFs on this list, with $41.4 million in assets under management. It’s returned nearly 12% this year, but is down slightly over the previous five years.WW International, Inc. (NASDAQ:WW), formerly known as Weight Watchers, sank to a five year low in hedge fund ownership during the final quarter of 2022, but several hedge funds have built new stakes in the company in 2023, including Richard Driehaus’ Driehaus Capital and Steve Cohen’s Point72 Asset Management. The weight loss management company had 4.1 million subscribers at the end of June, with the company achieving year-over-year subscriber growth during the quarter for the first time since late 2020.9. First Trust Multi-Manager Small Cap Opportunities ETF (MMSC)Year-to-Date Returns: 13.4% The First Trust Multi-Manager Small Cap Opportunities ETF (MMSC) is tied for the smallest ETF on this list in terms of assets, with $7 million. While the fund has posted nice gains this year, it’s still down by 21% since its inception in October 2021. The fund utilizes a multi-manager approach to increase diversification in its portfolio construction, with an overall emphasis on small-cap growth stocks.MMSC’s top holding with 2.37% portfolio weighting is Celsius Holdings, Inc. (NASDAQ:CELH), a Florida-based beverage company that ranks as one of 10 Vegan Stocks Billionaires Are Loading Up On. In addition to its core line of fitness and energy drinks, Celsius Holdings, Inc. (NASDAQ:CELH) also offers sugar-free and kosher beverages. The company is growing sales rapidly, topping $200 million in quarterly sales for the first time ever in Q1, which then jumped to over $300 million in Q2, a 112% year-over-year rise. Celsius had the #3 energy drink brand in the U.S. for the one-year period ended June 18, having doubled its market share to 8.6% over the past year.Carillon Tower Advisers discussed some of Celsius Holdings, Inc. (NASDAQ:CELH)’s positive catalysts last year in the fund’s Q3 2022 investor letter:“Celsius Holdings, Inc. (NASDAQ:CELH) develops, markets, sells, and distributes functional fitness and lifestyle beverages. The company’s shares outperformed in the period as it was announced that a major global soft drink company would take a minority ownership stake in the company in a deal that also would involve a strategic distribution agreement. In addition, Celsius reported a strong quarter, and it continues to gain market share in the energy drink category.”8. Invesco S&P MidCap 400 Revenue ETF (RWK)Year-to-Date Returns: 13.9% The Invesco S&P MidCap 400 Revenue ETF (RWK) is a small- and mid-cap oriented ETF with $519 million in assets under management. The fund has 398 holdings and an expense ratio of 0.39%. The fund also utilizes a unique weighting system to organize its portfolio, basing its construction on companies’ top line revenue rather than their market cap.Given that, its top holding TD SYNNEX Corporation (NYSE:SNX), at 2.95% weighting, likely has extremely impressive revenue in relation to most other companies in the ETF, given its weighting is more than double that of all but six other stocks. There was a huge spike in hedge fund ownership of TD SYNNEX Corporation (NYSE:SNX) in the first quarter of this year, as it jumped by 70% to an all-time high. However, smart money ownership of the stock fell back sharply in Q2.TD SYNNEX Corporation (NYSE:SNX)’s Q2 results were certainly impressive for a smaller company, as it hauled in $14.1 billion in net revenue and $18.7 billion in gross billings, though each of those figures was down from a year earlier, by 7% and 4% respectively. The IT services company’s End Point Solutions have been impacted by the post-pandemic weakness in PC sales, though the company believes it has now reached the trough in terms of billings and sales, with demand expected to pick up in future quarters.7. Vanguard Small Cap Growth ETF (VBK)Year-to-Date Returns: 14.0% The Vanguard Small Cap Growth ETF (VBK) is a passively managed fund of small-cap growth stocks that has an attractive expense ratio of just 0.07%. When coupled with its broad selection of stocks (exactly 1,000 holdings as of writing), it’s a great option for investors looking to diversify their portfolios. The fund has $14.2 billion in assets under management, more than twice as much as any other fund on this list, which speaks to how appealing it is to investors.The ETF’s top stock pick with a 0.93% weighting is credit ratings agency and analytics company Fair Isaac Corporation (NYSE:FICO). FICO jumped to an all-time high in hedge fund ownership during Q2, with 35% more money managers going long FICO over the last three quarters. Fair Isaac Corporation (NYSE:FICO) delivered record revenue of $399 million in the company’s fiscal Q3 2023, up 14% year-over-year. Revenue from mortgage originations was particularly strong during the quarter, rising by 135% from a year earlier.Baron FinTech Fund is bullish on the long-term earnings outlook for Fair Isaac Corporation (NYSE:FICO) as the fund shared in its second quarter 2023 investor letter:“Shares of Fair Isaac Corporation (NYSE:FICO), a data and analytics company that helps predict consumer behavior, contributed to performance. The company reported solid quarterly financial results and modestly raised its full-year outlook while taking a more conservative approach to guidance due to macroeconomic uncertainty. CEO Will Lansing sounded confident that the business can hold up well across various macro backdrops and sounded particularly excited about the momentum in the software business. We retain conviction and believe that FICO will be a steady earnings compounder, which should drive solid returns for the stock over the long term.”6. iShares Morningstar Small-Cap Growth ETF (ISCG)Year-to-Date Returns: 14.8% Closing out the first half of the list of best performing ETFs is iShares Morningstar Small-Cap Growth ETF (ISCG), which sports a paltry 0.06% expense ratio. The fund targets U.S.-based small-cap companies which are projected to deliver above market rate earnings growth. It held an even 1,500 stocks as of writing, lead by Saia, Inc. (NASDAQ:SAIA) at 0.59% weighting.Hedge funds bailed on Saia, Inc. (NASDAQ:SAIA) in the third quarter of last year but came storming back into the stock during the second quarter of this year, as there was a 40% jump in the number of smart money managers long SAIA. The transportation company has seen falling demand in recent quarters due to the soft economic backdrop, but did note in its Q2 conference call that demand showed continued improvement throughout each month of the second quarter and was trending towards positive growth territory in July.The Artisan Small Cap Fund found several reasons to add to its Saia, Inc. (NASDAQ:SAIA) holding in Q2, as the fund outlined in its second quarter 2023 investor letter:“Along with Exact Sciences, notable adds in the quarter included Twist Bioscience, Saia and Crocs. Saia, Inc. (NASDAQ:SAIA) operates in less-than-truckload shipping, a relatively attractive part of transportation that features several solid franchises supported by real estate assets and network advantages. Saia has been opening new terminals across the Northeast, raising its terminal count from 151 at the end of 2016 to 187 as of Q4 2022. With its Northeast expansion largely complete, Saia is entering a new growth phase that should unlock additional operating leverage. Thanks to a strengthened delivery network that enables higher quality service levels to customers, we believe Saia can simultaneously grow at a healthy pace and realize higher prices. We are cognizant that the slowing economy could reduce industry (and Saia’s) shipment volumes, but we have added to the position given its reasonable valuation, signs that shipping volumes are troughing and resilient pricing.” See which of this year’s best performing ETFs were holding Embraer S.A. (NYSE:ERJ), Axon Enterprise, Inc. (NASDAQ:AXON), Alarm.com Holdings, Inc. (NASDAQ:ALRM), and others by clicking the link below. Click to continue reading and see the 5 Best Performing Small-cap ETFs in 2023. Suggested articles:Wall Street Analysts See Upside Potential for 10 Stocks with Rising Price Targets15 Stocks to Buy with Steady Dividends10 Best Gold ETFs Disclosure: None. 10 Best Performing Small-cap ETFs in 2023 is originally published at Insider Monkey.

Insider Monkey

10 Best Performing Small-cap ETFs in 2023

https://finance.yahoo.com/news/10-best-performing-small-cap-223438277.html

1a16cd2d-1323-3a35-8bee-36411a281128

SO

In the latest trading session, Southern Co. (SO) closed at $67.93, marking a +1.22% move from the previous day. This change outpaced the S&P 500's 0.14% gain on the day. Meanwhile, the Dow gained 0.22%, and the Nasdaq, a tech-heavy index, added 0.09%.Coming into today, shares of the power company had lost 3.31% in the past month. In that same time, the Utilities sector lost 2.52%, while the S&P 500 lost 1.27%.Investors will be hoping for strength from Southern Co. as it approaches its next earnings release. In that report, analysts expect Southern Co. to post earnings of $1.38 per share. This would mark year-over-year growth of 5.34%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.47 billion, up 1.04% from the year-ago period.SO's full-year Zacks Consensus Estimates are calling for earnings of $3.60 per share and revenue of $27.78 billion. These results would represent year-over-year changes of 0% and -5.1%, respectively.Any recent changes to analyst estimates for Southern Co. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.03% lower within the past month. Southern Co. is currently a Zacks Rank #3 (Hold).Digging into valuation, Southern Co. currently has a Forward P/E ratio of 18.66. This valuation marks a premium compared to its industry's average Forward P/E of 15.69.Story continuesWe can also see that SO currently has a PEG ratio of 4.66. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Utility - Electric Power industry currently had an average PEG ratio of 2.72 as of yesterday's close.The Utility - Electric Power industry is part of the Utilities sector. This group has a Zacks Industry Rank of 143, putting it in the bottom 44% of all 250+ industries.The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportSouthern Company (The) (SO) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Southern Co. (SO) Outpaces Stock Market Gains: What You Should Know

https://finance.yahoo.com/news/southern-co-outpaces-stock-market-221520140.html

8772390d-405d-395d-ac37-ceaaaf722110

SO

One of the best investments we can make is in our own knowledge and skill set. With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. To keep the lesson grounded in practicality, we'll use ROE to better understand The Southern Company (NYSE:SO).Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders. See our latest analysis for Southern How To Calculate Return On Equity?Return on equity can be calculated by using the formula:Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' EquitySo, based on the above formula, the ROE for Southern is:8.6% = US$3.0b ÷ US$35b (Based on the trailing twelve months to June 2023).The 'return' is the amount earned after tax over the last twelve months. So, this means that for every $1 of its shareholder's investments, the company generates a profit of $0.09.Does Southern Have A Good Return On Equity?By comparing a company's ROE with its industry average, we can get a quick measure of how good it is. Importantly, this is far from a perfect measure, because companies differ significantly within the same industry classification. If you look at the image below, you can see Southern has a similar ROE to the average in the Electric Utilities industry classification (8.3%).roeThat's neither particularly good, nor bad. Although the ROE is similar to the industry, we should still perform further checks to see if the company's ROE is being boosted by high debt levels. If a company takes on too much debt, it is at higher risk of defaulting on interest payments. Our risks dashboardshould have the 4 risks we have identified for Southern.How Does Debt Impact ROE?Most companies need money -- from somewhere -- to grow their profits. The cash for investment can come from prior year profits (retained earnings), issuing new shares, or borrowing. In the first two cases, the ROE will capture this use of capital to grow. In the latter case, the debt used for growth will improve returns, but won't affect the total equity. Thus the use of debt can improve ROE, albeit along with extra risk in the case of stormy weather, metaphorically speaking.Story continuesSouthern's Debt And Its 8.6% ROESouthern does use a high amount of debt to increase returns. It has a debt to equity ratio of 1.76. Its ROE is quite low, even with the use of significant debt; that's not a good result, in our opinion. Debt does bring extra risk, so it's only really worthwhile when a company generates some decent returns from it.SummaryReturn on equity is one way we can compare its business quality of different companies. A company that can achieve a high return on equity without debt could be considered a high quality business. All else being equal, a higher ROE is better.But ROE is just one piece of a bigger puzzle, since high quality businesses often trade on high multiples of earnings. It is important to consider other factors, such as future profit growth -- and how much investment is required going forward. So you might want to take a peek at this data-rich interactive graph of forecasts for the company.Of course Southern may not be the best stock to buy. So you may wish to see this free collection of other companies that have high ROE and low debt.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Is The Southern Company's (NYSE:SO) 8.6% ROE Strong Compared To Its Industry?

https://finance.yahoo.com/news/southern-companys-nyse-8-6-110032750.html

2c752795-27dd-3c9f-bbb1-8cc1e3e35d2d

SOFO

By combining resources and expertise, the partnership will advance Global Learning Exchange and Penn Foster Group’s shared goal of expanding access to quality online education in underserved markets around the world.MADISON, Wis., August 15, 2023--(BUSINESS WIRE)--Sonic Foundry, Inc. (NASDAQ: SOFO), the trusted leader in video capture, management and streaming solutions, today announced that its Global Learning Exchange™ (GLX) business, which provides students around the world with affordable access to top-tier online learning solutions coupled with local support resources, has partnered with Penn Foster Group, a renowned leader in online education. This partnership will provide Global Learning Exchange students with a greater variety of program options while enabling Penn Foster Group to expand its global footprint and reach students in several emerging markets around the world.Penn Foster Group boasts over 100 years of history in the education field and harnesses that extensive experience to deliver high-quality online education in a broad range of high school, career skills training, and college-level programs. With a longstanding commitment to excellence and a custom-built online learning environment, Penn Foster Group delivers the tools and resources to empower learners on their journey to success.Sonic Foundry CEO Joe Mozden, Jr. expressed enthusiasm about the partnership, commenting, "We are thrilled to join forces with Penn Foster Group in our mission to democratize education and empower learners around the world to achieve their full potential. Our shared dedication to student-focused innovation in online learning aligns seamlessly, and our whole team is impressed by the range of programs and extensive support resources that Penn Foster Group makes available throughout each student's educational journey. This partnership marks a significant stride towards Global Learning Exchange’s mission of delivering a greater variety of high-quality online education options to students and professionals around the world."Story continuesPenn Foster Group General Manager Stacy Caldwell added, "Penn Foster Group has helped learners discover their own unique pathways to opportunity, and we are excited to expand our programs even further through our partnership with GLX. Access is at our core, and this partnership will help widen our global footprint, opening doors to learners who would not otherwise have education opportunities."Global Learning Exchange™ launched its inaugural program in the Bahamas in 2022 and is currently focused on expanding into African markets. The launch of GLX Hubs in Johannesburg, South Africa, Abuja, Nigeria, and Benin City, Nigeria, in August of this year underscores its commitment to reaching learners in underserved regions around the world.For additional information on Global Learning Exchange, visit www.globallearningexchange.com.To learn more about Penn Foster and its offerings, visit www.partners.pennfoster.edu.About Global Learning Exchange™Global Learning Exchange™ (GLX) is an innovative education solution designed to provide highly motivated students and professionals around the world with cost-effective access to life-changing higher education opportunities. Through partnerships with top US Universities and skill-based certification partners, Global Learning Exchange offers students a unique proposition: flexible online learning coupled with local, in-person support resources. In each country where its programs are available, Global Learning Exchange operates local hub facilities staffed by a team that provides admission and application assistance, career development resources, and other student support services. To learn more about how Global Learning Exchange is connecting students around the world with the resources they need to pursue their dreams, visit www.globallearningexchange.com.About Sonic FoundryFounded in 1991 and headquartered in Madison, Wis., Sonic Foundry (NASDAQ: SOFO) is dedicated to transforming how the world works and learns through innovative and scalable technology solutions. We help customers maximize the value of their video initiatives and infrastructure while leveraging our expertise and global footprint to help unlock a smarter, more connected world for learners, workers, and entrepreneurs everywhere. Sonic Foundry’s family of brands includes Mediasite®, Video Solutions, Vidable™ and Global Learning Exchange™ which are trusted by thousands of educational institutions, corporations, and health care organizations in dozens of countries around the world. For more information on how Sonic Foundry’s solutions can empower you and your organization to seize today’s opportunities as well as those of the future, visit www.sonicfoundry.com.© 2023 Sonic Foundry, Inc. product and service names mentioned herein are the trademarks of Sonic Foundry, Inc. or their respective owners.About Penn Foster GroupAt Penn Foster Group, we are transforming online learning to help learners by bringing together Penn Foster, CareerStep, Ashworth College, James Madison High School, the New York Institute of Photography, the New York Institute of Art and Design, and other education platforms. Our history dates back to 1890 when our founder, Thomas Foster, pioneered distance education by offering training by mail for coal miners to get the necessary skills for safer jobs. Today, with the partners who use our education and training programs, we continue that mission of providing flexible training and education for in-demand skills and are building a workforce that's prepared for the future job market.Forward Looking StatementsThis news release contains forward-looking statements about the products and services of Sonic Foundry within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include statements about our products and services, our customer base, strategic investments, new partnerships, our future operating results, and any statements we make about the company’s future. These types of statements address matters that are subject to many risks and uncertainties. Actual results could differ materially from the forward-looking guidance we provide. Any forward-looking statements should be considered in context of the risk factors disclosed in our periodic forms 10Q, 10K and other filings with the SEC. These filings can be accessed on-line at www.sec.gov and other websites or can be obtained from the company’s investor relations department. All of the information and disclosures we make in this news release regarding our business, including any forward-looking guidance, are as of the date given and we assume no obligation to update or change this information, regardless of subsequent events.View source version on businesswire.com: https://www.businesswire.com/news/home/20230815009913/en/ContactsEamon DoyleSonic [email protected]

Business Wire

Sonic Foundry’s Global Learning Exchange™ Announces Partnership with Penn Foster Group

https://finance.yahoo.com/news/sonic-foundry-global-learning-exchange-120000321.html

716bfffe-7718-3b09-8886-061c68c9678e

SOFO

Market forces rained on the parade of Sonic Foundry, Inc. (NASDAQ:SOFO) shareholders today, when the covering analyst downgraded their forecasts for next year. Both revenue and earnings per share (EPS) forecasts went under the knife, suggesting the analyst has soured majorly on the business.After the downgrade, the lone analyst covering Sonic Foundry is now predicting revenues of US$30m in 2024. If met, this would reflect a major 28% improvement in sales compared to the last 12 months. Losses are expected to be contained, narrowing 19% per share from last year to US$1.23 per share. However, before this estimates update, the consensus had been expecting revenues of US$39m and US$0.85 per share in losses. Ergo, there's been a clear change in sentiment, with the analyst administering a notable cut to next year's revenue estimates, while at the same time increasing their loss per share forecasts. See our latest analysis for Sonic Foundry earnings-and-revenue-growthThe consensus price target fell 33% to US$2.00, with the analyst clearly concerned about the company following the weaker revenue and earnings outlook.Taking a look at the bigger picture now, one of the ways we can understand these forecasts is to see how they compare to both past performance and industry growth estimates. One thing stands out from these estimates, which is that Sonic Foundry is forecast to grow faster in the future than it has in the past, with revenues expected to display 22% annualised growth until the end of 2024. If achieved, this would be a much better result than the 5.7% annual decline over the past five years. Compare this against analyst estimates for the broader industry, which suggest that (in aggregate) industry revenues are expected to grow 12% annually. Not only are Sonic Foundry's revenues expected to improve, it seems that the analyst is also expecting it to grow faster than the wider industry.The Bottom LineThe most important thing to take away is that the analyst increased their loss per share estimates for next year. While the analyst did downgrade their revenue estimates, these forecasts still imply revenues will perform better than the wider market. With a serious cut to next year's expectations and a falling price target, we wouldn't be surprised if investors were becoming wary of Sonic Foundry.Story continuesSo things certainly aren't looking great, and you should also know that we've spotted some potential warning signs with Sonic Foundry, including dilutive stock issuance over the past year. Learn more, and discover the 3 other flags we've identified, for free on our platform here. Of course, seeing company management invest large sums of money in a stock can be just as useful as knowing whether analysts are downgrading their estimates. So you may also wish to search this free list of stocks that insiders are buying.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

One Sonic Foundry, Inc. (NASDAQ:SOFO) Analyst Just Cut Their EPS Forecasts

https://finance.yahoo.com/news/one-sonic-foundry-inc-nasdaq-120825168.html

fff09652-808c-3745-ad4d-41a1aa04a50e

SOLO

Foremost Lithium Resource & Technology Ltd.25-Year Senior Management with Extensive EV Industry Experience to Lead Financial InitiativesVANCOUVER, British Columbia, Sept. 07, 2023 (GLOBE NEWSWIRE) -- Foremost Lithium Resource & Technology Ltd. (NASDAQ: FMST) (CSE: FAT) (“Foremost Lithium”, “Foremost” or the “Company”), a North American hard-rock lithium exploration company, today announced that it has appointed Ms. Bal Bhullar as its Chief Financial Officer and Corporate Secretary effective September 07, 2023. Ms. Bhullar succeeds Cyrus Driver who is leaving the Company to pursue other interests.Ms. Bhullar has more than 25 years’ experience in senior financial positions, risk management experience as an executive and/or board director, in both public and private companies. Most recently, she served as CFO and executive board member at ElectraMeccanica (Nasdaq: SOLO), where she was responsible for managing the financial initiatives essential to the company’s growth.“We are delighted to welcome Bal to our executive leadership team as CFO and look forward to her contributions to accelerating our growth,” said Jason Barnard, President and Chief Executive Officer of Foremost Lithium. “Her entrepreneurial spirit, outstanding work ethic, and vast networks are assets that will undoubtedly have an immediate and substantial impact on our Company. We anticipate her accomplished background in finance and capital markets will help generate long-term shareholder value as we execute to become a key contributor to the North American EV revolution.”Ms. Bhullar’s involvement at ElectraMeccanica was instrumental through its evolution in scaling an EV manufacturer from its early stages through its NASDAQ listing, which will complement Foremost in its recent up-listing onto the NASDAQ. She is a Chartered Professional Accountant, Certified General Accountant, and holds a CRM designation from Simon Fraser University and a diploma in Financial Management from British Columbia Institute of Technology. Ms. Bhullar brings strong banking relationships and is experienced with increasing market capitalization, raising capital, corporate governance, ESG, diversity, financial & strategic planning, initial public offerings, reverse takeovers, operational & risk management, and regulatory compliance reporting.Story continues“I am excited to join Foremost Lithium at this important juncture in the Company’s evolution,” said Ms. Bhullar. “Drawing on my depth of experience with Nasdaq-listed companies, I will focus on integrating robust financial management systems and enhancing the Company’s corporate governance. I look forward to joining this talented team and contributing to the Company’s immense growth opportunity.”Foremost Lithium’s Board of Directors and management team wishes to thank Cyrus Driver for his service and notable contributions. Mr. Driver has played a significant role in the Company’s transition and the Company is appreciative of all his efforts and wishes him continued success.Pursuant to the provisions of the Company’s stock option plan, the Company wishes to grant a total of 155,000 incentive stock options exercisable at $6.60 per share, of which 85,000 will be exercisable for a period of five (5) years from the date of grant and 70,000 will be exercisable for a period of three (3) years from the date of grant, to certain directors, officers and consultants as incentive for the services provided to the Company in accordance with the Company's Stock Option Plan and the policies of the Canadian Securities Exchange.About Foremost LithiumForemost Lithium (NASDAQ: FMST) (CSE: FAT) (FSE: F0R0) (WKN: A3DCC8) is a hard-rock lithium exploration company focused on empowering the North American clean energy economy. Foremost’s strategically located lithium properties extend over 43,000 acres in Snow Lake, Manitoba, and hosts a property in a known active lithium camp situated on over 11,400 acres in Quebec called Lac Simard South.Foremost’s four flagship Lithium Lane Projects as well as its Lac Simard South project are located at the tip of the NAFTA superhighway to capitalize on the world's growing EV appetite, strongly positioning the Company to become a premier supplier of North America's lithium feedstock. As the world transitions towards decarbonization, the Company's objective is the extraction of lithium oxide (Li₂O), and to subsequently play a role in the production of high-quality lithium hydroxide (LiOH), to help power lithium-based batteries, critical in developing a clean-energy economy. Foremost Lithium also has the Winston Gold/Silver Property in New Mexico USA. Learn More at www.foremostlithium.com.Follow us or contact us on social media:Twitter: @foremostlithiumLinkedIn: https://www.linkedin.com/company/foremost-lithium-resource-technology/ Facebook: https://www.facebook.com/ForemostLithiumForward-Looking StatementsThis news release contains "forward-looking statements" and "forward-looking information" (as defined under applicable securities laws), based on management's best estimates, assumptions, and current expectations. Such statements include but are not limited to, statements with respect to the plans for future exploration and development of the Company's properties and the acquisition of additional exploration projects. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "expects", "expected", "budgeted", "forecasts", "anticipates" "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those expressed or implied by such statements, including but not limited to: risks related to the receipt of all necessary regulatory and third party approvals for the proposed operations of the Company's business and exploration activities, risks related to the Company's exploration properties; risks related to international operations; risks related to general economic conditions, actual results of current exploration activities, unanticipated reclamation expenses; changes in project parameters as plans continue to be refined; fluctuations in prices of commodities including lithium and gold; fluctuations in foreign currency exchange rates, increases in market prices of mining consumables, possible variations in reserves; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; delays in the completion of exploration, development or construction activities, changes in national and local government regulation of mining operations, tax rules and regulations, and political and economic developments in jurisdictions in which the Company operates. . Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The forward-looking statements and forward-looking information are made as of the date hereof and are qualified in their entirety by this cautionary statement. The Company disclaims any obligation to revise or update any such factors or to publicly announce the result of any revisions to any forward-looking statements or forward-looking information contained herein to reflect future results, events, or developments, except as require by law. Accordingly, readers should not place undue reliance on forward-looking statements and information. Please refer to the Company's most recent filings under its profile at www.sedar.com for further information respecting the risks affecting the Company and its business.The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.CompanyJason Barnard, President and CEO+1 (604) [email protected] RelationsMichael Kim or Brooks HamiltonMZ North America +1 (737) [email protected]

GlobeNewswire

Foremost Lithium Appoints Bal Bhullar as Chief Financial Officer and Corporate Secretary

https://finance.yahoo.com/news/foremost-lithium-appoints-bal-bhullar-123000167.html

c06dd151-f287-3309-8d74-58c49ce0b170

SOLO

The price trend for ElectraMeccanica Vehicles Corp. (SOLO) has been bearish lately and the stock has lost 7% over the past week. However, the formation of a hammer chart pattern in its last trading session indicates that the stock could witness a trend reversal soon, as bulls might have gained significant control over the price to help it find support.The formation of a hammer pattern is considered a technical indication of nearing a bottom with likely subsiding of selling pressure. But this is not the only factor that makes a bullish case for the stock. On the fundamental side, strong agreement among Wall Street analysts in raising earnings estimates for this company enhances its prospects of a trend reversal.Understanding Hammer Chart and the Technique to Trade ItThis is one of the popular price patterns in candlestick charting. A minor difference between the opening and closing prices forms a small candle body, and a higher difference between the low of the day and the open or close forms a long lower wick (or vertical line). The length of the lower wick being at least twice the length of the real body, the candle resembles a 'hammer.'In simple terms, during a downtrend, with bears having absolute control, a stock usually opens lower compared to the previous day's close, and again closes lower. On the day the hammer pattern is formed, maintaining the downtrend, the stock makes a new low. However, after eventually finding support at the low of the day, some amount of buying interest emerges, pushing the stock up to close the session near or slightly above its opening price.When it occurs at the bottom of a downtrend, this pattern signals that the bears might have lost control over the price. And, the success of bulls in stopping the price from falling further indicates a potential trend reversal.Hammer candles can occur on any timeframe -- such as one-minute, daily, weekly -- and are utilized by both short-term as well as long-term investors.Story continuesLike every technical indicator, the hammer chart pattern has its limitations. Particularly, as the strength of a hammer depends on its placement on the chart, it should always be used in conjunction with other bullish indicators.Here's What Increases the Odds of a Turnaround for SOLOAn upward trend in earnings estimate revisions that SOLO has been witnessing lately can certainly be considered a bullish indicator on the fundamental side. That's because empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.The consensus EPS estimate for the current year has increased 31.7% over the last 30 days. This means that the Wall Street analysts covering SOLO are majorly in agreement about the company's potential to report better earnings than what they predicted earlier.If this is not enough, you should note that SOLO currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. And stocks carrying a Zacks Rank #1 or 2 usually outperform the market. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Moreover, a Zacks Rank of 2 for ElectraMeccanica Vehicles Corp. is a more conclusive indication of a potential trend reversal, as the Zacks Rank has proven to be an excellent timing indicator that helps investors identify precisely when a company's prospects are beginning to improve.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportElectraMeccanica Vehicles Corp. (SOLO) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

ElectraMeccanica Vehicles Corp. (SOLO) May Find a Bottom Soon, Here's Why You Should Buy the Stock Now

https://finance.yahoo.com/news/electrameccanica-vehicles-corp-solo-may-135509511.html

1598c322-71ef-3007-ae87-43aee2cae477

SON

One of the best investments we can make is in our own knowledge and skill set. With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. To keep the lesson grounded in practicality, we'll use ROE to better understand Sonoco Products Company (NYSE:SON).Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. In short, ROE shows the profit each dollar generates with respect to its shareholder investments. See our latest analysis for Sonoco Products How Is ROE Calculated?Return on equity can be calculated by using the formula:Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' EquitySo, based on the above formula, the ROE for Sonoco Products is:21% = US$483m ÷ US$2.3b (Based on the trailing twelve months to July 2023).The 'return' is the income the business earned over the last year. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.21 in profit.Does Sonoco Products Have A Good Return On Equity?By comparing a company's ROE with its industry average, we can get a quick measure of how good it is. Importantly, this is far from a perfect measure, because companies differ significantly within the same industry classification. If you look at the image below, you can see Sonoco Products has a similar ROE to the average in the Packaging industry classification (20%).roeThat isn't amazing, but it is respectable. Although the ROE is similar to the industry, we should still perform further checks to see if the company's ROE is being boosted by high debt levels. If a company takes on too much debt, it is at higher risk of defaulting on interest payments.How Does Debt Impact Return On Equity?Companies usually need to invest money to grow their profits. That cash can come from retained earnings, issuing new shares (equity), or debt. In the case of the first and second options, the ROE will reflect this use of cash, for growth. In the latter case, the debt required for growth will boost returns, but will not impact the shareholders' equity. In this manner the use of debt will boost ROE, even though the core economics of the business stay the same.Story continuesSonoco Products' Debt And Its 21% ROESonoco Products clearly uses a high amount of debt to boost returns, as it has a debt to equity ratio of 1.33. There's no doubt its ROE is decent, but the very high debt the company carries is not too exciting to see. Investors should think carefully about how a company might perform if it was unable to borrow so easily, because credit markets do change over time.SummaryReturn on equity is a useful indicator of the ability of a business to generate profits and return them to shareholders. A company that can achieve a high return on equity without debt could be considered a high quality business. All else being equal, a higher ROE is better.But ROE is just one piece of a bigger puzzle, since high quality businesses often trade on high multiples of earnings. The rate at which profits are likely to grow, relative to the expectations of profit growth reflected in the current price, must be considered, too. So you might want to take a peek at this data-rich interactive graph of forecasts for the company.But note: Sonoco Products may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Is Sonoco Products Company's (NYSE:SON) 21% ROE Better Than Average?

https://finance.yahoo.com/news/sonoco-products-companys-nyse-son-111212629.html

c6eb5c24-be10-39c5-b3c8-e8991eb18252

SON

Sonoco Products CompanyHARTSVILLE, S.C., Sept. 08, 2023 (GLOBE NEWSWIRE) -- Sonoco Products Company (NYSE: SON) (“Sonoco” or the “Company”), a diversified global packaging leader, today announced the completion of its acquisition of the remaining equity interest in RTS Packaging, LLC (“RTS”) from joint venture partner WestRock (NYSE:WRK) and one WestRock paper mill in Chattanooga, Tennessee. The acquisition, originally announced on November 9, 2022, will further strengthen and expand Sonoco’s 100% recycled fiber-based packaging solutions to serve growing consumer wine, spirits, food, beauty and healthcare markets. Prior to closing the transaction, Sonoco was a 35% owner in the joint venture with WestRock.With this acquisition, Sonoco adds a network of 15 operations and 1,100 employees in the U.S., Mexico, and South America. The purchase price for this acquisition was $330 million, subject to customary price adjustments. The Company funded the acquisition with borrowings under its existing credit facilities and cash on hand. After the transaction, the Company’s net debt to adjusted EBITDA ratio is less than 2.9x. The acquisition is expected to be immediately accretive to earnings per share, excluding the impact of purchase accounting adjustments.About Sonoco Founded in 1899, Sonoco (NYSE:SON) is a global provider of packaging products. With net sales of approximately $7.3 billion in 2022, the Company has approximately 22,000 employees working in more than 310 operations around the world, serving some of the world’s best-known brands. With our corporate purpose of Better Packaging. Better Life., Sonoco is committed to creating sustainable products, and a better world, for our customers, employees and communities. The Company ranked first in the Packaging sector on Fortune’s World’s Most Admired Companies for 2022 and was also included in Barron’s 100 Most Sustainable Companies for the fourth consecutive year. For more information on the Company, visit our website at www.sonoco.com.Story continuesForward-Looking Statements This news release includes forward-looking statements. Such forward-looking statements are based on current expectations, estimates and projections about the Company, RTS, and the acquired paper mill in Chattanooga, Tennessee (the “Chattanooga Mill”), the industry and certain assumptions made by management. Such information includes, without limitation, discussions as to guidance and other estimates, perceived opportunities, expectations, beliefs, plans, strategies, goals and objectives concerning the Company’s, RTS’s and the Chattanooga Mill’s future financial and operating performance. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict, including the ability of the parties to complete the transaction on the anticipated timetable, the parties’ ability to satisfy the closing conditions to the transaction and the ability of the Company to realize the anticipated benefits and synergies from the transaction. Therefore, actual results may differ materially from those expressed or forecasted in such forward-looking statements.Additional information concerning some of the factors that could cause materially different results is included in the Company’s reports on forms 10-K, 10-Q and 8-K filed with the Securities and Exchange Commission. Such reports are available from the Securities and Exchange Commission’s public reference facilities and its website, sec.gov, and from the Company’s investor relations department and the Company’s website, www.sonoco.com. CONTACT: Contact: Lisa Weeks +843-383-7524 [email protected]

GlobeNewswire

Sonoco Completes Acquisition of RTS Packaging

https://finance.yahoo.com/news/sonoco-completes-acquisition-rts-packaging-122000478.html

fd29fad7-574d-37eb-8d47-528ae5afdd83

SOND

THORNTON, Colo., August 17, 2023--(BUSINESS WIRE)--Sonder Holdings Inc. (NASDAQ: SOND; "Sonder") today announced that on August 17, 2023, the Compensation Committee of Sonder’s Board of Directors made equity inducement grants of stock options exercisable for an aggregate of 487,099 shares of its common stock to one hundred eighty seven (187) newly hired non-executive employees under the Sonder Holdings Inc. 2023 Inducement Equity Incentive Plan (the "Inducement Plan"). The stock options were granted as an inducement material to the employees’ entering into employment with Sonder (or one of its subsidiaries) pursuant to Nasdaq Listing Rule 5635(c)(4).The Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of Sonder (or one of its subsidiaries), or following a bona fide period of non-employment, as an inducement material to such individuals’ entering into employment with Sonder (or one of its subsidiaries), pursuant to Nasdaq Listing Rule 5635(c)(4).The stock options have an exercise price of $.50 per share, the closing price of Sonder’s common stock as reported by Nasdaq on August 17, 2023, the grant date. The stock options have a ten-year term and vest over four years, with 25% of the shares subject to the award vesting on the first anniversary of the applicable employee’s date of hire, and an additional 1/48th of the shares subject to the award vesting monthly thereafter, subject to the employee’s continued service through the applicable vesting dates (subject to the terms and conditions of the Inducement Plan and the option award agreement covering the grant).About Sonder Holdings Inc.Sonder (NASDAQ: SOND) is revolutionizing hospitality through innovative, tech-enabled service and inspiring, thoughtfully designed accommodations combined into one seamless experience. Launched in 2014, Sonder provides a variety of accommodation options — from spacious rooms to fully-equipped suites and apartments — found in over 40 markets spanning ten countries and three continents. The Sonder app gives guests full control over their stay. Complete with self-service features, simple check-in and 24/7 on-the-ground support, amenities and services at Sonder are just a tap away, making a world of better stays open to all.Story continuesTo learn more, visit www.sonder.com or follow Sonder on Facebook, Twitter or Instagram.Download the Sonder app on Apple or Google Play.View source version on businesswire.com: https://www.businesswire.com/news/home/20230817069070/en/ContactsMedia:[email protected]:[email protected]

Business Wire

Sonder Holdings Inc. Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

https://finance.yahoo.com/news/sonder-holdings-inc-reports-inducement-220000019.html

92c177cc-d126-3550-8197-fa9fb3746e59

SOND

Sonder Holdings Inc.THORNTON, Colo., Aug. 30, 2023 (GLOBE NEWSWIRE) -- Sonder Holdings Inc. (NASDAQ: SOND), a leading next-generation hospitality company that is redefining the guest experience through technology and design, today announced the appointment of Chad Fletcher as Vice President of Sales.Fletcher is responsible for Sonder’s corporate travel strategy, which includes leading the global B2B sales organization, forging strategic external partnerships, and growing both new and existing customer verticals. Fletcher was previously Vice President, Global Sales, at Choice Hotels International, Inc., and before that held sales leadership positions at Avis Budget Group, Inc., and DHL Group.“I’m thrilled to welcome Chad to Sonder at this pivotal time for our corporate travel business. Since launching the category we’ve grown it rapidly, and there are still significant revenue opportunities. Chad brings over two decades of sales expertise, as we continue to scale all segments of corporate travel including corporate housing, group, and business transient,” said Shruti Challa, Chief Revenue Officer at Sonder.“Sonder’s thoughtfully designed, tech-powered hospitality appeals to the next generation of travelers, and I’m excited to join this dynamic business as it continues to expand globally. I look forward to leading the corporate travel strategy, to connect ever more travelers with the accommodations of tomorrow,” said Chad Fletcher, Vice President of Sales at Sonder.Sonder formally launched business travel in 2021, and has continued to expand in this area, including strengthening its position on GDS platforms, and adding a significant number of corporate travel accounts. Earlier this year, Sonder announced the launch of group bookings, further expanding its B2B offering.Sonder offers both hotel and apartment accommodations in prime locations in over 40 markets worldwide, including high key count properties with on-site amenities such as The Arcadian in Boston, Battery Park in NYC, Business Bay in Dubai, Cielo in Mexico City, Maisonneuve in Montreal, and The Witherspoon in Philadelphia. Sonder spaces provide fast, free wi-fi, while many in its portfolio offer a comfortable place to spread out and work remotely, with fully-equipped kitchens, living rooms, multiple bedrooms, and en-suite laundry.Story continuesSonder recently announced the launch of Powered by Sonder, its first dedicated hotel collection, as well as its continued expansion in EMEA and in Florida. A third of Sonder properties received Tripadvisor 2023 Travelers’ Choice Awards, a 3-fold increase from 2022, placing them in the top 10% of Tripadvisor listings worldwide, with two properties in the top 1% of all listings.Learn more about Sonder for business and group travel here, or email [email protected] SonderSonder (NASDAQ: SOND) is revolutionizing hospitality through innovative, tech-enabled service and inspiring, thoughtfully designed accommodations combined into one seamless experience. Launched in 2014, Sonder provides a variety of accommodation options — from spacious rooms to fully-equipped suites and apartments — found in over 40 markets spanning ten countries and three continents. The Sonder app gives guests full control over their stay. Complete with self-service features, simple check-in and 24/7 on-the-ground support, amenities and services at Sonder are just a tap away, making a world of better stays open to all.To learn more, visit www.sonder.com or follow Sonder on Twitter, Instagram or Linkedin.Download the Sonder app on Apple or Google Play.ContactsMedia:[email protected]:[email protected]

GlobeNewswire

Sonder Holdings Inc. Appoints Chad Fletcher as Vice President of Sales

https://finance.yahoo.com/news/sonder-holdings-inc-appoints-chad-113000984.html

39b1e25c-9b39-3adc-88f9-d8acd6c4248c

SOTK

Sono-Tek Corporation- Revenue Growth of at least 25% Expected in Current FY 2024 as Supply Chain Issues Ease-- Dr. Christopher L. Coccio, Chairman and CEO, Announces Transition to Executive Chairman at Calendar Year End-MILTON, NY, Aug. 24, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Sono-Tek Corporation (Nasdaq: SOTK), the leading developer and manufacturer of ultrasonic coating systems, today announced that at its Annual Shareholders Meeting being held this morning at the Company’s headquarters in Milton, New York, the Company’s senior management will make the following comments.During the meeting, Dr. Christopher L. Coccio, Chairman and CEO: “Sono-Tek’s 2023 fiscal year business performance maintained its historic strong gross margins and was profitable despite the lingering impact of Covid-19 on our supply chain. Our challenges shipping scheduled backlog in a timely manner caused revenue to decrease 12% to $15 million. Despite the decline, net income for the year was $0.6 million, due in part to higher interest earned on our ample cash reserves.  Looking ahead, revenue for the second quarter, ending August 31, 2023, is expected to be strong and approximately 40% - 45% above last year’s results reflecting the increasing shipments from our record backlog. In total, we expect the full fiscal year, ending February 29, 2024, to generate revenue growth of at least 25%, which we believe will put us back on our pre-Covid growth path once again.”Other highlights covered during the meeting will include comments on Sono-Tek’s strong balance sheet that had over $12 million in cash, cash equivalents and marketable securities and zero debt at May 31, 2023. Much of this strength is due to the free cash flow generated by the Company’s operations and resulting from Sono-Tek’s higher than average gross margins as compared to many other companies and industries. The strong balance sheet also positions the Company to quickly execute on new strategic opportunities as they present themselves, whether internal or external in nature.Story continuesSteve Harshbarger, Sono-Tek’s President and COO: “Sono-Tek’s outlook remains solid due to our focus on three major areas of global importance: the semiconductor industry, the medical device industry, and the clean energy sector. The latter is driven by climate change concerns and increased government funding to reduce greenhouse emissions, including the $369 billion from the recently enacted Inflation Reduction Act which is helping to stimulate demand for Sono-Tek’s proprietary coating systems used in the manufacturing of fuel cells, carbon capture, solar cells, and green hydrogen generation. In addition, the U.S. CHIPS Act will provide more than $200 billion in federal funding for domestic semiconductor manufacturing, an important market for us. And the medical device business segment remains resilient to economic cycles and continues to generate steady growth as exciting new treatments requiring specialized precision coatings continue to expand. We believe that these target markets, together with our progress in providing both application engineering and an ever expanding product portfolio of full system solutions, has created an exciting outlook for Sono-Tek’s future growth.”On a personal note, Dr. Coccio will announce that “after 22 years as Chief Executive Officer, I plan to transition to the role of Executive Chairman at the end of this calendar year. This will maintain my presence on the executive staff, where I can continue to provide mentoring and support as well as assistance in Investor Relations. I will also continue in my role as Chairman of the Board of Directors. I am recommending to our Board that Steve Harshbarger be promoted to Chief Executive Officer at the end of the calendar year. Steve has served as President and Chief Operating Officer of Sono-Tek for eleven years and he has deep and intimate knowledge of our company’s workings at the highest level. In total, Steve and I have worked together since 2001 and I’m confident that he is highly qualified to excel in this new role. I’m very grateful for the opportunity that I’ve had to lead Sono-Tek from a bumpy past to its current strong position, and especially for the opportunity to work with so many highly talented and dedicated team members in building our company over the years.”The slide presentation shown at the annual meeting will be available on the Company’s website at http://www.sono-tek.com/investor-relations/.About Sono-TekSono-Tek Corporation is the leading developer and manufacturer of ultrasonic coating systems for applying precise, thin film coatings to protect, strengthen or smooth surfaces on parts and components for the microelectronics/electronics, alternative energy, medical and industrial markets, including specialized glass applications in construction and automotive.The Company’s solutions are environmentally-friendly, efficient and highly reliable, and enable dramatic reductions in overspray, savings in raw material, water and energy usage and provide improved process repeatability, transfer efficiency, high uniformity and reduced emissions.Sono-Tek’s growth strategy is focused on leveraging its innovative technologies, proprietary know-how, unique talent and experience, and global reach to further develop microscopic coating technologies that enable better outcomes for its customers’ products and processes.For further information, visit www.sono-tek.com.Safe Harbor StatementWe discuss expectations regarding our future performance, such as our business outlook, in our annual and quarterly reports, press releases, and other written and oral statements. These “forward-looking statements” are based on currently available competitive, financial and economic data and our operating plans. They are inherently uncertain, and investors must recognize that events could turn out to be significantly different from our expectations. These factors include, among other considerations, general economic and business conditions; political, regulatory, tax, competitive and technological developments affecting our operations or the demand for our products; inflationary and supply chain pressures; residual effects from COVID-19 pandemic; continuing beneficial effects on demand for our products resulting from government funding initiatives in the clean energy sector and in semiconductor manufacturing; continuing strength in medical device market; maintenance of increased order backlog and timely completion and shipment of related product; the imposition of tariffs; timely development and market acceptance of new products and continued customer validation of our coating technologies; adequacy of financing; capacity additions, the ability to enforce patents; maintenance of operating leverage; consummation of order proposals; completion of large orders on schedule and on budget; successful transition from primarily selling ultrasonic nozzles and components to a more complex business providing complete machine solutions and higher value subsystems; increased sales to the clean energy sector; and realization of quarterly and annual revenues as forecasted. We undertake no obligation to update any forward-looking statement.ContactStephen J. Bagley Chief Financial Officer Sono-Tek Corporation [email protected] Relations: Stephanie Prince PCG Advisory (646) 863-6341 [email protected]

GlobeNewswire

Sono-Tek Holds Annual Shareholders Meeting; Provides Revenue Guidance for Second Quarter Ending August 31, 2023 and Full Fiscal Year

https://finance.yahoo.com/news/sono-tek-holds-annual-shareholders-132500858.html

48cdbd33-850a-34f6-b5c1-790fe977f2ec

SOTK

There are a few key trends to look for if we want to identify the next multi-bagger. Firstly, we'll want to see a proven return on capital employed (ROCE) that is increasing, and secondly, an expanding base of capital employed. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. Although, when we looked at Sono-Tek (NASDAQ:SOTK), it didn't seem to tick all of these boxes.Understanding Return On Capital Employed (ROCE)For those that aren't sure what ROCE is, it measures the amount of pre-tax profits a company can generate from the capital employed in its business. To calculate this metric for Sono-Tek, this is the formula:Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)0.014 = US$211k ÷ (US$21m - US$6.1m) (Based on the trailing twelve months to May 2023).Therefore, Sono-Tek has an ROCE of 1.4%. In absolute terms, that's a low return and it also under-performs the Electronic industry average of 13%. See our latest analysis for Sono-Tek roceIn the above chart we have measured Sono-Tek's prior ROCE against its prior performance, but the future is arguably more important. If you'd like, you can check out the forecasts from the analysts covering Sono-Tek here for free.What The Trend Of ROCE Can Tell UsIn terms of Sono-Tek's historical ROCE movements, the trend isn't fantastic. Over the last five years, returns on capital have decreased to 1.4% from 4.1% five years ago. And considering revenue has dropped while employing more capital, we'd be cautious. This could mean that the business is losing its competitive advantage or market share, because while more money is being put into ventures, it's actually producing a lower return - "less bang for their buck" per se.While on the subject, we noticed that the ratio of current liabilities to total assets has risen to 29%, which has impacted the ROCE. Without this increase, it's likely that ROCE would be even lower than 1.4%. Keep an eye on this ratio, because the business could encounter some new risks if this metric gets too high.Story continuesWhat We Can Learn From Sono-Tek's ROCEWe're a bit apprehensive about Sono-Tek because despite more capital being deployed in the business, returns on that capital and sales have both fallen. Yet despite these concerning fundamentals, the stock has performed strongly with a 78% return over the last five years, so investors appear very optimistic. In any case, the current underlying trends don't bode well for long term performance so unless they reverse, we'd start looking elsewhere.One more thing, we've spotted 2 warning signs facing Sono-Tek that you might find interesting.For those who like to invest in solid companies, check out this free list of companies with solid balance sheets and high returns on equity.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Sono-Tek (NASDAQ:SOTK) Will Want To Turn Around Its Return Trends

https://finance.yahoo.com/news/sono-tek-nasdaq-sotk-want-102214470.html

e0d00515-cbb9-349c-ac0b-9d0f780e9d03

SOUN

AI-driven Smart Answering service responds to customer queries via voice or SMSSANTA CLARA, Calif., August 29, 2023--(BUSINESS WIRE)--SoundHound AI, Inc. (Nasdaq: SOUN), a global leader in voice artificial intelligence, today announced it is joining forces with ChowNow, the leading online ordering and marketing platform designed to support independent restaurants, to enable restaurants to answer and respond to every inbound customer call.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230829760942/en/SoundHound Joins Forces With ChowNow To Ensure Restaurants Never Miss A Call (Graphic: Business Wire)Using SoundHound’s new Smart Answering service, all restaurants on ChowNow will now have the option to add a new capability that lets them handle inbound customer queries via a voice assistant or SMS, meaning they won’t have to choose between answering the phone and serving in-house customers.Built on SoundHound’s powerful voice AI platform, the Smart Answering system seamlessly uploads and assimilates company website information. It then uses SoundHound’s advanced speech recognition and natural language understanding – leveraging Generative AI – to give tailored, conversational responses to customer phone queries about menu items, opening hours, and other frequently asked questions.If customers want to place an order, Smart Answering will send them an SMS that routes them to the restaurant’s ChowNow ordering page where they can make their selections – allowing busy restaurant staff to focus during peak periods."When we say that we help independent restaurants, we mean more than simply saving them money. We’re helping them streamline operations, create more bandwidth, and ultimately, forge stronger connections with their customers," said Eric Jaffe, ChowNow Co-founder and COO. "What we love about SoundHound is how its technology helps achieve all of the above, giving restaurants an accessible, seamless way to increase their order volume so that they can dedicate their energy to building a better customer experience."Story continuesThe fully-automated agent can also respond using custom answers or actions – responses that facilitate reservations and more by sending a relevant link via SMS, taking a message, or routing the call to a member of staff on another number. The service can also handle many calls at once and is available 24/7."Smart Answering was specifically developed to help restaurants go from coping to thriving when it comes to inbound calls," said James Hom, Chief Product Officer at SoundHound. "By joining forces with ChowNow, we can help make sure restaurants don’t have to let the phone ring out, and that they can capture critical revenue even during peak times when they can’t always pick-up."SoundHound for Restaurants ordering and answering technology uses best-in-class voice AI, and is available across multiple channels. Smart Answering and Smart Ordering capabilities also help businesses cater to the evolving preferences of consumers, who increasingly prefer customer service to be automated across channels.About SoundHoundSoundHound (Nasdaq: SOUN), a global leader in conversational intelligence, offers voice AI solutions that let businesses offer incredible conversational experiences to their customers. Built on proprietary technology, SoundHound’s voice AI delivers best-in-class speed and accuracy in numerous languages to product creators across automotive, TV, and IoT, and to customer service industries via groundbreaking AI-driven products like Smart Answering, Smart Ordering, and Dynamic Interaction™, a real-time, multimodal customer service interface. Along with SoundHound Chat AI, a powerful voice assistant with integrated Generative AI, SoundHound powers millions of products and services, and processes billions of interactions each year for world class businesses.About ChowNowChowNow helps independent restaurants thrive by connecting diners to an honest ordering solution that supports local businesses. Their platform helps more than 20,000 local restaurants across North America sustainably grow their delivery and takeout business with streamlined online ordering technology, data insights and marketing services, all with zero commissions for restaurants and no hidden fees for diners. In 2021, ChowNow created the Diner Impact Score, a personalized dollar amount that shows customers how much they’ve saved restaurants by ordering through ChowNow’s commission-free app. Founded in 2012, ChowNow has processed more than 200 million online orders and saved restaurants $640 million in commission fees. For more information, visit chownow.com.View source version on businesswire.com: https://www.businesswire.com/news/home/20230829760942/en/ContactsFiona [email protected]

Business Wire

SoundHound Joins Forces With ChowNow To Ensure Restaurants Never Miss A Call

https://finance.yahoo.com/news/soundhound-joins-forces-chownow-ensure-130000356.html

6062b2f5-3c97-3a63-a38c-b6197253f5f6

SOUN

SANTA CLARA, Calif., August 31, 2023--(BUSINESS WIRE)--SoundHound AI, Inc. (Nasdaq: SOUN), a global leader in voice artificial intelligence, announced today that it will participate in the following investor events in September:Keyvan Mohajer, CEO and Co-Founder of SoundHound, will participate at the H.C. Wainwright Annual Global Investment Conference in New York. The presentation will be broadcast live at 7:30 am PT/10:30 am ET on September 12. You can register to view here.Nitesh Sharan, CFO of SoundHound, will participate at the Northland Capital Markets Institutional Investor Virtual Conference on September 19.Please reach out to the respective conference hosts for more details on how to schedule a meeting at either conference. More information will be available on SoundHound’s investor relations website at investor.soundhound.com.If you wish to receive company email notifications, please register at investor.soundhound.com.About SoundHound AISoundHound AI (Nasdaq: SOUN), a global leader in conversational intelligence, offers voice AI solutions that let businesses offer incredible conversational experiences to their customers. Built on proprietary technology, SoundHound’s voice AI delivers best-in-class speed and accuracy in numerous languages to product creators across automotive, TV, and IoT, and to customer service industries via groundbreaking AI-driven products like Smart Answering, Smart Ordering, and Dynamic Interaction™, a real-time, multimodal customer service interface. Along with SoundHound Chat AI, a powerful voice assistant with integrated Generative AI, SoundHound powers millions of products and services, and processes billions of interactions each year for world class businesses. www.soundhound.com.View source version on businesswire.com: https://www.businesswire.com/news/home/20230831828153/en/ContactsInvestors: Scott [email protected]: Fiona [email protected]

Business Wire

SoundHound AI To Participate in Investor Events in September

https://finance.yahoo.com/news/soundhound-ai-participate-investor-events-200500839.html

44aa00e7-f15a-3ba8-b199-6b6eb0273801

SP

SP Plus CorporationCHICAGO, Aug. 29, 2023 (GLOBE NEWSWIRE) -- SP+® Corporation (SP+), (Nasdaq: SP) a best-in-class technology and operations management provider of mobility services for aviation, commercial, hospitality, and institutional clients throughout North America and Europe, today announced its five-year contract for management of all public and employee parking facilities, and public and employee shuttle service at Eppley Airport (OMA), in Omaha, Nebraska.OMA is the largest airport in Nebraska, with a mission to provide premier customer service and airport facilities through operational excellence. In 2022, more than 4.5 million passengers flew through OMA.“OMA strives to be the best airport in the Midwest,” said Jason Finch, President, West Airports, SP+ Corporation. “Airport leadership has high expectations in customer service, efficiency, operational excellence, safety, and professionalism. SP+ is an operator with a proven track record of providing high-quality parking and shuttle bus operations. We look forward to a strong working relationship with OMA while managing their fleet shuttle buses, and more than 9,000 on-site parking spaces within its garages and surface lots.”About SP+SP+ (www.spplus.com) develops and integrates industry-leading technology with best-in-class operations management and support to deliver mobility solutions that enable the efficient and time-sensitive movement of people, vehicles, and personal travel belongings. With over 20,000 team members located throughout North America and Europe, SP+ is committed to providing solutions that make every moment matter for a world on the go.CONTACT:William RongeySP+Director of Corporate Communications312-274-2102

GlobeNewswire

SP Plus Corporation Announces Five-Year Parking and Shuttle Operations Contract at Eppley Airport in Omaha

https://finance.yahoo.com/news/sp-plus-corporation-announces-five-123000910.html

f9726fc7-f916-3ab3-a0cb-05a30f1f0342

SP

Rogers Communication RCI and Shaw Communications are poised to receive approximately C$13 million ($9.58 million) from Canada's merger court. This follows the court's declaration that the Competition Bureau's attempt to block the merger, led by the commissioner of competition Matthew Boswell, was "unreasonable."According to the tribunal's statement, the companies argued that Boswell's approach during the legal proceedings needlessly escalated tensions, leading to substantial cost increments.The Rogers-Shaw merger experienced an intense opposition from Canada’s antitrust regulator, whose attempts to block the deal were rejected by the Competition Tribunal and Canadian merger court.In March, Canada approved Rogers Communication's acquisition of Shaw Communications after securing binding commitments to pay financial penalties if the company failed to create new jobs and invest in network expansion.Rogers Communication, Inc. Price and ConsensusRogers Communication, Inc. Price and ConsensusRogers Communication, Inc. price-consensus-chart | Rogers Communication, Inc. QuoteRecent Investments to Boost RCI’s Top LineRogers Communication has made considerable investments in the past and is planning to do so in the future as well. These investments are expected to help the company stay up to date with technology, which will boost RCI’s top line in the upcoming quarters.The Zacks Consensus Estimate for RCI’s 2023 revenues is pegged at $14.79 billion, indicating year-over-year growth of 25.08%. The Zacks Consensus Estimate for earnings is pegged at a profit of $3.2 per share, indicating a year-over-year decline of 9.97%.Together, Rogers Communications and the Ontario government are directing a joint investment of $8.8 million to introduce the Ontario Cybersecurity Excellence Initiative (“OCEI”). This initiative aims to enhance the province's cybersecurity competitiveness and facilitate the integration of cybersecurity technologies across various industries.The Canadian Cyber Threat Exchange, a privately-run non-profit entity, along with Toronto Metropolitan University's Rogers Cybersecure Catalyst, will assume leadership roles in driving OCEI's objectives. This venture is made possible by the funding from the Ontario government and RCI, which is supplemented by additional non-monetary contributions, resulting in a cumulative budget of $10 million over three years.After the merger of Rogers and Shaw was approved, the company announced its intention to allocate $6.5 billion toward various enhancements to its network infrastructure in the next five years. Additionally, RCI is committed to expanding connectivity for low-income Canadians and 5G connectivity services. The company anticipates contributing $7 billion to Western Canada's GDP over this duration, consequently generating 3,000 employment opportunities.The Zacks Consensus Estimate for RCI’s 2023 wireless postpaid subscribers is pegged at 7.19 million, indicating year-over-year growth of 32%. The Zacks Consensus Estimate for wireless prepaid subscribers is pegged at 8.44 million, indicating year-over-year growth of 6.07%.Story continuesZacks Rank & Key PicksCurrently, Rogers Communication carries a Zacks Rank #3 (Hold).Shares of RCI have decreased 12.6% year to date against the Zacks Consumer Discretionary sector’s rise of 9.5% in the same period.SP Plus SP, Sonos SONO and Skechers SKX are some better-ranked stocks from the broader sector which investors can consider. Currently, SP, SONO and SKX sport a Zacks Rank #1 (Strong Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.Shares of SP Plus have gained 12% year to date. The Zacks Consensus Estimate for SP’s 2023 revenues is pegged at $891.75 million, indicating a year-over-year increase of 12.25%. The consensus mark for earnings is pegged at 73 cents per share, which has decreased by 2 cents over the past 30 days.Shares of Sonos have surged 17.9% year to date. The Zacks Consensus Estimate for SONO’s 2023 revenues is pegged at $1.66 billion, indicating a year-over-year decline of 5.46%. The consensus mark is pegged at a loss of 3 cents per share, which has decreased by 8 cents over the past 30 days.Shares of Skechers have gained 18.6% year to date. The Zacks Consensus Estimate for SKX’s 2023 revenues is pegged at $8.09 billion, indicating year-over-year growth of 8.71%. The consensus mark for earnings is pegged at 77 cents per share, which has decreased by 3 cents over the past 30 days.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportRogers Communication, Inc. (RCI) : Free Stock Analysis ReportSkechers U.S.A., Inc. (SKX) : Free Stock Analysis ReportSonos, Inc. (SONO) : Free Stock Analysis ReportSP Plus Corporation (SP) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Rogers Communication (RCI) to Get $10M From Competition Bureau

https://finance.yahoo.com/news/rogers-communication-rci-10m-competition-133300155.html

baa419a4-fd22-3382-9bc9-61723796c052

SPCE

Space tourism pioneer Virgin Galactic (NYSE: SPCE) launched its third successful commercial spaceflight on Friday and its fourth successful flight in the past four months. Space fans cheered and...like clockwork, Virgin Galactic's stock went down 3% (through 12:45 p.m. ET) just as it has fallen in six of the last seven trading sessions. Now investors want to know: What exactly is up with Virgin Galactic and its incredible shrinking stock price?Continue reading

Motley Fool

Why Virgin Galactic Stock Keeps Going Down

https://finance.yahoo.com/m/23b79cad-13f5-3c5e-8226-c2de198ede38/why-virgin-galactic-stock.html

23b79cad-13f5-3c5e-8226-c2de198ede38

SPCE

Virgin Galactic (NYSE: SPCE) completed another spaceflight on Friday and is now going to space on a regular cadence. But there are some red flags for the stock, which Travis Hoium highlights in this video.Continue reading

Motley Fool

3 Red Flags for Virgin Galactic

https://finance.yahoo.com/m/59124822-20b3-3a3b-9dd8-a51bbaa5bb30/3-red-flags-for-virgin.html

59124822-20b3-3a3b-9dd8-a51bbaa5bb30

SPG

An in-depth analysis of the real estate giant's dividend history, yield, and sustainabilitySimon Property Group Inc (NYSE:SPG) recently announced a dividend of $1.9 per share, payable on 2023-09-29, with the ex-dividend date set for 2023-09-07. As investors look forward to this upcoming payment, the spotlight also shines on the company's dividend history, yield, and growth rates. Using the data from GuruFocus, let's deep dive into Simon Property Group Inc's dividend performance and assess its sustainability.Understanding Simon Property Group Inc's BusinessWarning! GuruFocus has detected 7 Warning Signs with SPG. Click here to check it out. High Yield Dividend Stocks in Gurus' PortfolioThis Powerful Chart Made Peter Lynch 29% A Year For 13 YearsHow to calculate the intrinsic value of a stock?Simon Property Group Inc is the second-largest real estate investment trust in the United States. Its portfolio includes an interest in 230 properties: 136 traditional malls, 69 premium outlets, 14 Mills centers (a combination of a traditional mall, outlet center, and big-box retailers), 6 lifestyle centers, and 5 other retail properties. Simon's portfolio averaged $693 in sales per square foot over the 12 months prior to the pandemic. The company also owns a 21% interest in Klepierre, a European retail company with investments in shopping centers in 16 countries, and joint venture interests in 33 premium outlets across 11 countries.Delving into Simon Property Group Inc's Dividend PerformanceA Look at Simon Property Group Inc's Dividend HistorySimon Property Group Inc has maintained a consistent dividend payment record since 1994. Dividends are currently distributed on a quarterly basis. Below is a chart showing annual Dividends Per Share for tracking historical trends.Delving into Simon Property Group Inc's Dividend PerformanceDeciphering Simon Property Group Inc's Dividend Yield and GrowthAs of today, Simon Property Group Inc currently has a 12-month trailing dividend yield of 6.18% and a 12-month forward dividend yield of 6.54%. This suggests an expectation of increasing dividend payments over the next 12 months.Story continuesOver the past three years, Simon Property Group Inc's annual dividend growth rate was -6.00%. Extended to a five-year horizon, this rate increased to -2.90% per year. And over the past decade, Simon Property Group Inc's annual dividends per share growth rate stands at 4.50%.Based on Simon Property Group Inc's dividend yield and five-year growth rate, the 5-year yield on cost of Simon Property Group Inc stock as of today is approximately 5.33%.Delving into Simon Property Group Inc's Dividend PerformanceEvaluating Simon Property Group Inc's Dividend SustainabilityTo assess the sustainability of the dividend, one needs to evaluate the company's payout ratio. The dividend payout ratio provides insights into the portion of earnings the company distributes as dividends. A lower ratio suggests that the company retains a significant part of its earnings, thereby ensuring the availability of funds for future growth and unexpected downturns. As of 2023-06-30, Simon Property Group Inc's dividend payout ratio is 1.09, which may suggest that the company's dividend may not be sustainable.Simon Property Group Inc's profitability rank is 7 out of 10 as of 2023-06-30, suggesting good profitability prospects. The company has reported positive net income for each year over the past decade, further solidifying its high profitability.Assessing Simon Property Group Inc's Growth MetricsSimon Property Group Inc's growth rank of 7 out of 10 suggests that the company's growth trajectory is good relative to its competitors.Simon Property Group Inc's revenue has increased by approximately -4.80% per year on average, a rate that underperforms approximately 74.88% of global competitors. Furthermore, during the past three years, Simon Property Group Inc's earnings increased by approximately -1.40% per year on average, a rate that underperforms approximately 58.76% of global competitors. Lastly, the company's 5-year EBITDA growth rate of -2.40% underperforms approximately 71.28% of global competitors.Concluding ThoughtsWhile Simon Property Group Inc has a commendable track record of consistent dividend payments, the sustainability of these dividends may be in question due to the high payout ratio. However, the company's profitability rank and growth metrics suggest a positive outlook. It's crucial for investors to monitor these metrics and the company's future performance to make informed investment decisions.GuruFocus Premium users can screen for high-dividend yield stocks using the High Dividend Yield Screener.This article first appeared on GuruFocus.

GuruFocus.com

Delving into Simon Property Group Inc's Dividend Performance

https://finance.yahoo.com/news/delving-simon-property-group-incs-110558035.html

30aae409-26cf-301a-aae6-cdf0a2cfdcab

SPG

INDIANAPOLIS, Sept. 7, 2023 /PRNewswire/ -- Simon®, a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations, announced today that the Company will present at the BofA Securities 2023 Global Real Estate Conference on Tuesday, September 12, 2023 at 11:05 a.m. Eastern Time.Simon (PRNewsfoto/Simon)A live audio webcast of the presentation will be accessible from the Investors section of the Company's website at investors.simon.com. An online replay will be available following the presentation at the same location.About SimonSimon® is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/simon-to-present-at-bofa-securities-2023-global-real-estate-conference-301921224.htmlSOURCE Simon

PR Newswire

Simon® to Present at BofA Securities 2023 Global Real Estate Conference

https://finance.yahoo.com/news/simon-present-bofa-securities-2023-202000666.html

a734c1a2-fb09-38aa-ab29-eb28968acf66

SPGI

If you think Apple has a big "China problem" — you'll be shocked to know it's tiny compared with some other S&P 500 companies.Continue reading

Investor's Business Daily

10 U.S. Companies Face Much Larger Problems In China Than Apple

https://finance.yahoo.com/m/72c6e865-376b-3d3e-8086-cf10982ea5e6/10-u-s-companies-face-much.html

72c6e865-376b-3d3e-8086-cf10982ea5e6

SPGI

Lead an active lifestyle instead of being sedentary, and you may live longer, with fewer health complications. You can choose to be active or passive when it comes to investing and financial matters, too. Active and passive investing are two key investing approaches.Continue reading

Motley Fool

Active vs. Passive Investors: You Might Be Surprised by Which One Outperforms

https://finance.yahoo.com/m/1df72116-2b00-354b-9508-1938f86b85cd/active-vs-passive-investors-.html

1df72116-2b00-354b-9508-1938f86b85cd

SPH

Columbus-based Suburban Propane Employees Debut the Bike at Back-to-School Open HouseWHIPPANY, N.J., Aug. 24, 2023 /PRNewswire/ -- Suburban Propane Partners, L.P. (NYSE: SPH), a nationwide distributor of propane, renewable propane, renewable natural gas, fuel oil and related products and services, as well as a marketer of natural gas and electricity and investor in low carbon fuel alternatives, collaborated with Sunbury Urban Farm, a nonprofit organization in Columbus, Ohio to educate local children on the importance of agriculture, nutrition, sustainability, and environment awareness.Representatives from Suburban Propane, joined by Sarah Erickson (far left) and Rachel Shotwell (far right) of Sunbury Urban Farms, pose with the Fender Blender Bike Blender at yesterday’s ‘Back to School Bike Blender Bash’. The Blender Bike was generously donated by Suburban Propane for use in the farm’s upcoming Farm & Forest School year for the purpose of educating local children on the importance of agriculture, nutrition, sustainability, and environmental awareness.A donation from Suburban Propane funded the purchase of a Fender Blender Bike Blender from Rock the Bike. Local Suburban Propane employees participated in the event providing demonstrations of the Blender Bike for prospective students and their families."Our employees value the opportunity to give back to their communities through the SuburbanCares program," said Nandini Sankara, Spokesperson, Suburban Propane. "Organizations like the Sunbury Urban Farm provide educational experiences with lifelong value and we are happy to support their incredible efforts."The endeavor is part of the Company's SuburbanCares initiative which is dedicated to supporting community efforts across the United States. Recently, SuburbanCares has undertaken charitable endeavors in numerous underserved communities including Sacramento, CA; Syracuse, NY; Key West, FL; Spokane, WA; Boston, MA; Lake Worth, FL; Boston, MA; Helena, MT; Charlotte, NC; Lewes, DE; San Diego, CA; Albany, NY; Dayton, OH; Philadelphia, PA; Santa Fe, NM; Santa Rosa, CA; Columbia and Charleston, SC; New Brunswick, NJ; and fed healthcare professionals in 2020 in some of the most COVID-19 affected regions in the nation, including Florida, California, Texas, Maryland, New Jersey, New York and Washington, D.C."We're grateful to Suburban Propane for making our 'Back to School Bike Blender Bash' possible," said Sarah Erickson, Program Director, Sunbury Urban Farm. "This is a fantastic way to mark the kick-off of our Farm & Forest School year and to celebrate an amazing summer camp season. These programs serve approximately 1,500 youth participants in year-round, play-based outdoor learning."Story continuesPhoto Caption:  Representatives from Suburban Propane, joined by Sarah Erickson (far left) and Rachel Shotwell (far right) of Sunbury Urban Farms, pose with the Fender Blender Bike Blender at yesterday's 'Back to School Bike Blender Bash'. The Blender Bike was generously donated by Suburban Propane for use in the farm's upcoming Farm & Forest School year for the purpose of educating local children on the importance of agriculture, nutrition, sustainability, and environmental awareness.About Suburban Propane:Suburban Propane Partners, L.P. ("Suburban Propane") is a publicly traded master limited partnership listed on the New York Stock Exchange. Headquartered in Whippany, New Jersey, Suburban Propane has been in the customer service business since 1928 and is a nationwide distributor of propane, renewable propane, renewable natural gas ("RNG"), fuel oil and related products and services, as well as a marketer of natural gas and electricity and producer of and investor in low carbon fuel alternatives, servicing the energy needs of approximately 1 million residential, commercial, governmental, industrial and agricultural customers through approximately 700 locations across 42 states.Suburban Propane is supported by three core pillars: (1) Suburban Commitment – showcasing Suburban Propane's 95-year legacy, and ongoing commitment to the highest standards for dependability, flexibility, and reliability that underscores Suburban Propane's commitment to excellence in customer service; (2) SuburbanCares – highlighting continued dedication to giving back to local communities across Suburban Propane's national footprint; and (3) Go Green with Suburban Propane – promoting the clean burning and versatile nature of propane and renewable propane as a bridge to a green energy future and investing in the next generation of innovative, renewable energy alternatives.For additional information on Suburban Propane, please visit www.suburbanpropane.com.About Sunbury FarmJust like plants in the garden, children grow at Sunbury Urban Farm, too! Located in Columbus, Ohio, Sunbury Urban Farm has 15 acres of garden, food forest, and fields where kids ages 5-13 explore, play, and eat their way into healthy habits and strong relationships. Kids dig into the garden, cook using fresh garden ingredients, and explore the forest, learning that healthy food is literally all around them. Learn more at: www.sunburyurbanfarm.org.Suburban Propane Logo (PRNewsfoto/Suburban Propane Partners, L.P.)Sunbury Urban Farm Logo(PRNewsfoto/Suburban Propane Partners, L.P.)(PRNewsfoto/Suburban Propane Partners, L.P.)CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/suburban-propane-collaborates-with-sunbury-urban-farm-to-provide-a-bike-blender-for-farm--forest-school-students-301908921.htmlSOURCE Suburban Propane Partners, L.P.

PR Newswire

Suburban Propane Collaborates with Sunbury Urban Farm to Provide a Bike Blender for Farm & Forest School Students

https://finance.yahoo.com/news/suburban-propane-collaborates-sunbury-urban-130000534.html

bea0bfd2-d494-3932-ac1d-e7dbf9a37c1d

SPH

WHIPPANY, N.J., Aug. 30, 2023 /PRNewswire/ -- Suburban Propane Partners, L.P. (NYSE: SPH), a nationwide distributor of propane, renewable propane, renewable natural gas, fuel oil and related products and services, as well as a marketer of natural gas and electricity and investor in low carbon fuel alternatives, and Suburban Renewable Energy, LLC ("Suburban Renewables"), a wholly owned subsidiary, today announced it will sponsor the Horizon Hydrogen Grand Prix (H2GP) World Final in Las Vegas at the RE+ Expo, September 11th through 14th 2023.  H2 Grand Prix Series LogoIn line with Suburban Renewables' commitment to renewable energy education and programming, this sponsorship benefits 13 – 17-year-old students from around the world who have spent the past several months working in teams to design, engineer, and build their own 1:10 scale hydrogen fuel cell model car, which they will race in a demonstration of commitment to global renewable energy. Horizon Educational runs the program and provides high school students with a comprehensive understanding of the engineering principles behind the future renewable energy society. Suburban Renewables will also participate in an H2GP 'Corporate Race', where they will compete against other businesses and firms to see whose customized hydrogen-powered car will dominate, bringing home the H2GP Corporate Championship Trophy.The thrilling hydrogen-powered race takes place at RE+, North America's largest energy trade show and a gathering that occupies a central position in the renewable energy industry. Each year, more than 27,000 professionals from all segments of the industry gather to network and build meaningful connections. This year's gathering promises to be the biggest yet, with visitors from over 150 countries exhibiting over 1,000 displays."Suburban Renewables is proud to sponsor the Horizon Hydrogen Grand Prix World Final in Las Vegas, and we look forward to watching these hard-working teams at the H2GP World Final," said Nandini Sankara, Spokesperson, Suburban Renewables. "Suburban Renewables is helping lead the to a low carbon future, and we are proud to support the next generation of students that will help propel us to that greener tomorrow."Story continues"Thank you, Suburban Renewables, for your sponsorship and steadfast dedication to renewable energy education, as you continue to inspire and empower our students to shape a sustainable future," said Max Accordino, Head of Business Development at Horizon Educational.About Suburban Renewables:Formed in 2022, Suburban Renewables is an interconnected, renewable energy platform that builds off the well-established legacy of Suburban Propane, and houses the Company's family of renewable energy assets and technologies.Suburban Renewables also drives long-term strategic growth and diversification efforts to identify new areas of investment, strategic partnerships, and collaborations within the renewable energy space, and paves the way to a low carbon future. Suburban Propane leads the industry toward a transition to a renewable energy future through unique, innovative, and profitable business ventures.About Suburban Propane:Suburban Propane Partners, L.P. ("Suburban Propane") is a publicly traded master limited partnership listed on the New York Stock Exchange. Headquartered in Whippany, New Jersey, Suburban Propane has been in the customer service business since 1928 and is a nationwide distributor of propane, renewable propane, renewable natural gas ("RNG"), fuel oil and related products and services, as well as a marketer of natural gas and electricity and producer of and investor in low carbon fuel alternatives, servicing the energy needs of approximately 1 million residential, commercial, governmental, industrial and agricultural customers through approximately 700 locations across 42 states.Suburban Propane is supported by three core pillars: (1) Suburban Commitment – showcasing Suburban Propane's 95-year legacy, and ongoing commitment to the highest standards for dependability, flexibility, and reliability that underscores Suburban Propane's commitment to excellence in customer service; (2) SuburbanCares – highlighting continued dedication to giving back to local communities across Suburban Propane's national footprint; and (3) Go Green with Suburban Propane – promoting the clean burning and versatile nature of propane and renewable propane as a bridge to a green energy future and investing in the next generation of innovative, renewable energy alternatives.For additional information on Suburban Propane, please visit www.suburbanpropane.com.About H2GP: The Horizon Hydrogen Grand Prix (H2GP) is an initiative run by Horizon Educational that challenges students to design, engineer, construct and then eventually race 1:10 scale hydrogen-powered cars. During this process students learn advanced science and engineering skills in addition to picking up real-world problem-solving, teamwork and project management abilities. Each year the best teams from over 20 countries compete in the annual H2GP World Final. Find out h2grandprix.comAbout Horizon Educational: Founded in 2003, Horizon Fuel Cell Technologies began the sale of miniature fuel cells to demonstrate the technology to schools and students around the world, while investing in R&D of more advanced products and industrial applications. In 2013, Horizon Educational Group was formed as an independent division dedicated to the deployment of a complete range of educational solutions. Horizon Educational develop, produce, and distribute hands-on teaching material and didactic equipment as well as online curricula and educational programs. With distributors in over 150 countries, the STEM kits and technical training equipment have an international reputation for quality, educational content, and award-winning design. Discover more at horizoneducational.com(PRNewsfoto/Suburban Propane Partners, L.P.)Suburban Propane Logo (PRNewsfoto/Suburban Propane Partners, L.P.)CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/suburban-renewables-sponsors-hydrogen-racing-in-las-vegas-301913189.htmlSOURCE Suburban Propane Partners, L.P.

PR Newswire

Suburban Renewables Sponsors Hydrogen Racing in Las Vegas

https://finance.yahoo.com/news/suburban-renewables-sponsors-hydrogen-racing-130000340.html

8974d439-3755-32a9-986a-27557d769b84

SPRB

Spruce Reports Interim Data from Phase 2 POWER Proof-of-Concept Study in Polycystic Ovary Syndrome (PCOS)CAHmelia Program in Adult Classic Congenital Adrenal Hyperplasia (CAH) Surpasses 75% Enrollment in CAHmelia-203 and Approaches 75% Enrollment in CAHmelia-204Screening Underway for Cohort 3 in CAHptain Study for Pediatric Classic CAHSOUTH SAN FRANCISCO, Calif., August 14, 2023--(BUSINESS WIRE)--Spruce Biosciences, Inc. (Nasdaq: SPRB), a late-stage biopharmaceutical company focused on developing and commercializing novel therapies for rare endocrine disorders with significant unmet medical need, today reported financial results for the second quarter ended June 30, 2023 and provided corporate updates."Our goal with the POWER study is to assess the ability of tildacerfont to reduce dehydroepiandrosterone sulfate (DHEAS) in women with PCOS, and the interim results support target engagement and suggest that DHEAS may be reduced with tildacerfont treatment," said Javier Szwarcberg, M.D., M.P.H., Chief Executive Officer of Spruce Biosciences. "With a significant unmet medical need for new PCOS treatments and no FDA-approved therapies today, we are eager to analyze and present the full data set at an upcoming medical conference."Dr. Szwarcberg continued, "As we approach key topline data readouts, we continue to make meaningful progress across our adult and pediatric CAH programs. In our CAHmelia program in adult classic CAH, we’ve surpassed 75% enrollment in the CAHmelia-203 study and are approaching 75% enrollment in the CAHmelia-204 study. Cohort 2 in our CAHptain study for pediatric classic CAH is nearly fully enrolled, with screening in cohort 3 currently underway. Finally, as we continue building our seasoned leadership team for the pivotal year ahead, I am delighted to welcome Heidi Petersen, M.P.H., as our Senior Vice President of Regulatory and Quality. With more than 25 years of life sciences industry experience managing complex drug development programs, Ms. Petersen will be vital as we advance tildacerfont towards a potential registrational submission for classic CAH."Story continuesRecent Corporate UpdatesSpruce Biosciences Reports Interim Data from Phase 2 POWER Proof-of-Concept Study in Polycystic Ovary Syndrome (PCOS): The company conducted an analysis of interim data from 20 patients (13 on tildacerfont and 7 on placebo) through the 12-week treatment period for the Phase 2 dose-escalation, proof-of-concept study. As previously announced, the study enrolled 27 patients in total. The interim data from the study support target engagement and suggest that DHEAS may be reduced with tildacerfont treatment in women suffering from PCOS. Tildacerfont was well-tolerated, with a safety profile that is consistent with past studies. Most adverse events were classified as mild-moderate, balanced between treatment arms, unrelated to study drug and single event occurrences. No serious adverse reactions or dose toxicities were observed, and there was no evidence of adrenal insufficiency. Final data from the proof-of-concept study will be presented at a future medical conference.Progress in Enrollment of CAHmelia Program in Adult Classic CAH: Enrollment in the company’s CAHmelia-203 clinical trial surpassed 75% enrollment. CAHmelia-203 is a randomized, double-blind, placebo-controlled, dose-ranging study evaluating the safety and efficacy of tildacerfont in reducing androstenedione (A4) levels in adult patients with classic CAH while on their current glucocorticoid regimen. Additionally, enrollment in the company’s CAHmelia-204 clinical trial is approaching 75% enrollment. CAHmelia-204 is a randomized, double-blind, placebo-controlled study evaluating the safety and efficacy of tildacerfont in reducing supraphysiologic glucocorticoid use in adult patients with classic CAH.Screening for Cohort 3 in CAHptain Study for Pediatric Classic CAH Underway: Enrollment for Cohort 2 of the CAHptain study is nearly complete and screening for Cohort 3 is underway. Patients in Cohort 1 have completed 12 weeks of treatment and have entered the extension portion of the study. CAHptain is a Phase 2 open-label clinical trial that utilizes a sequential 3 cohort design (cohorts 1 and 2 comprised of adolescent patients 11 to 17 years of age, and cohort 3 comprised of children 2 to 10 years of age) to evaluate the safety, pharmacokinetics (PK), and exploratory pharmacodynamics (PD) of tildacerfont in children with classic CAH.Appointment of Heidi Petersen, M.P.H., as Senior Vice President of Regulatory and Quality: As Senior Vice President of Regulatory and Quality, Heidi Petersen will be responsible for leading the company’s global regulatory affairs and quality strategy. Ms. Petersen is a seasoned industry executive with nearly three decades of experience overseeing global development of biologics and small molecule investigational products in immuno-oncology, infectious disease, and rare disease indications. Prior to joining Spruce, Ms. Petersen was Senior Vice President of Regulatory Affairs at Mereo BioPharma. Ms. Petersen earned a Master of Public Health from Columbia University.Anticipated Upcoming MilestonesTopline data from adolescents (cohorts 1 and 2) of the Phase 2 CAHptain clinical trial in pediatric classic CAH in the second half of 2023Topline results from the CAHmelia-203 clinical trial in adult classic CAH patients with highly elevated levels of A4 in the second half of 2023Topline results from the CAHmelia-204 clinical trial in adult classic CAH patients on supraphysiologic doses of glucocorticoids with normal or near normal levels of A4 in the second half of 2024Second Quarter 2023 Financial ResultsCash, Cash Equivalents and Investments: Cash, cash equivalents and investments as of June 30, 2023 were $120.5 million. Cash, cash equivalents and investments are expected to allow the company to fund operating and capital expenditures into the first half of 2025.Collaboration Revenue: Collaboration revenue for the three and six months ended June 30, 2023 were $2.2 million and $4.1 million, respectively, compared to nil for the same periods in 2022. The increase in collaboration revenue reflects the partial recognition of the $15.0 million upfront payment the company received in connection with the collaboration and license agreement with Kaken Pharmaceutical.Research and Development (R&D) Expenses: R&D expenses for the three and six months ended June 30, 2023 were $13.1 million and $24.8 million, respectively, compared to $9.1 million and $17.6 million for the same periods in 2022. The overall increase in R&D expenses was primarily related to progressing clinical development of tildacerfont in adult classic CAH, pediatric classic CAH and PCOS.General and Administrative (G&A) Expenses: G&A expenses for the three and six months ended June 30, 2023 were $3.0 million and $6.5 million, respectively, compared to $2.8 million and $6.0 million for the same periods in 2022.Total Operating Expenses: Total operating expenses for the three and six months ended June 30, 2023 were $16.1 million and $31.3 million, respectively, compared to $11.9 million and $23.6 million for the same periods in 2022.Net Loss: Net loss for the three and six months ended June 30, 2023 was $12.8 million and $25.6 million, respectively, compared to $11.9 million and $23.6 million for the same periods in 2022.About Spruce BiosciencesSpruce Biosciences is a late-stage biopharmaceutical company focused on developing and commercializing novel therapies for rare endocrine disorders with significant unmet medical need. Spruce is initially developing its wholly-owned product candidate, tildacerfont, as the potential first non-steroidal therapy for patients suffering from classic congenital adrenal hyperplasia (CAH). Spruce is also developing tildacerfont for women suffering from polycystic ovary syndrome (PCOS). To learn more, visit www.sprucebiosciences.com and follow us on Twitter @Spruce_Bio, LinkedIn, Facebook and YouTube.Forward-Looking StatementsStatements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding, among other things, the enrollment, results, conduct, progress and timing of Spruce’s clinical trials; the receipt and presentation of topline data from the same; research and development plans; Spruce’s planned operations, including its expectations regarding operating and capital expenditures being funded into the first half of 2025; the implications of the interim data from the POWER study; tildacerfont’s potential to become a first-in-class therapy for PCOS; Spruce’s expectations to further engage regulatory authorities regarding tildacerfont; and the ability of tildacerfont to provide a therapeutic option to treat the underlying cause of disease through reductions of ACTH. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "anticipate", "expect", "may", "plan", "will", "potential" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon Spruce’s current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, the risk that interim data from the POWER study will differ from final data once available, along with risks and uncertainties associated with Spruce’s business in general, the impact of geopolitical and macroeconomic events, and the other risks described in Spruce’s filings with the U.S. Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management’s assumptions and estimates as of such date. Spruce undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.SPRUCE BIOSCIENCES, INC.CONDENSED BALANCE SHEETS(unaudited)(in thousands, except share and per share amounts)June 30,December 31,20232022ASSETSCurrent assets:Cash and cash equivalents$97,482$24,487Short-term investments23,04154,590Prepaid expenses3,4003,320Other current assets2061,211Total current assets124,12983,608Right-of-use assets1,2971,400Other assets536640Total assets$125,962$85,648LIABILITIES AND STOCKHOLDERS’ EQUITYCurrent liabilities:Accounts payable$945$1,426Accrued expenses and other current liabilities12,1079,399Term loan, current portion1,6221,622Deferred revenue, current portion8,060—Total current liabilities22,73412,447Lease liabilities, net of current portion1,1471,261Term loan, net of current portion2,5073,293Deferred revenue, net of current portion2,811—Other liabilities202161Total liabilities29,40117,162Commitments and contingenciesStockholders’ equity:Preferred stock, $0.0001 par value; 10,000,000 shares authorized andno shares issued or outstanding as of June 30, 2023 and December 31, 2022——Common stock, $0.0001 par value; 200,000,000 shares authorized as ofJune 30, 2023 and December 31, 2022; 40,710,692 and 23,601,004 sharesissued and outstanding as of June 30, 2023 and December 31, 2022, respectively43Additional paid-in capital271,540218,354Accumulated other comprehensive loss(55)(558)Accumulated deficit(174,928)(149,313)Total stockholders’ equity96,56168,486Total liabilities and stockholders’ equity$125,962$85,648SPRUCE BIOSCIENCES, INC.CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS(unaudited)(in thousands, except share and per share amounts)Three Months Ended June 30,Six Months Ended June 30,2023202220232022Collaboration revenue$2,165$—$4,129$—Operating expenses:Research and development13,1269,06024,83817,568General and administrative3,0112,8226,4626,048Total operating expenses16,13711,88231,30023,616Loss from operations(13,972)(11,882)(27,171)(23,616)Interest expense(127)(94)(258)(181)Interest and other income, net1,2751041,814162Net loss(12,824)(11,872)(25,615)(23,635)Other comprehensive gain (loss), net of tax:Unrealized gain (loss) on available for sale securities133(152)503(661)Total comprehensive loss$(12,691)$(12,024)$(25,112)$(24,296)Net loss per share, basic and diluted$(0.32)$(0.51)$(0.71)$(1.01)Weighted-average shares of common stock outstanding,basic and diluted40,547,92523,493,61336,247,93123,492,960View source version on businesswire.com: https://www.businesswire.com/news/home/20230814328144/en/ContactsMedia Will ZasadnyEvoke Canale(619) [email protected] [email protected] Samir GharibPresident and CFOSpruce [email protected]

Business Wire

Spruce Biosciences Reports Second Quarter 2023 Financial Results and Provides Corporate Updates

https://finance.yahoo.com/news/spruce-biosciences-reports-second-quarter-200000951.html

480f1f59-3e8d-3323-b0be-26381962647c

SPRB

SOUTH SAN FRANCISCO, Calif., August 28, 2023--(BUSINESS WIRE)--Spruce Biosciences, Inc. (Nasdaq: SPRB), a late-stage biopharmaceutical company focused on developing and commercializing novel therapies for rare endocrine disorders with significant unmet medical need, today announced that Javier Szwarcberg, M.D., M.P.H., Chief Executive Officer, will present at the H.C. Wainwright 25th Annual Global Investment Conference on September 12, 2023, at 3:30 p.m. ET.Interested parties can access the live webcast here. An archived copy of the webcast will be available on the events section of the company’s investor relations website for approximately 30 days.About Spruce BiosciencesSpruce Biosciences is a late-stage biopharmaceutical company focused on developing and commercializing novel therapies for rare endocrine disorders with significant unmet medical need. Spruce is initially developing its wholly-owned product candidate, tildacerfont, as the potential first non-steroidal therapy for patients suffering from classic congenital adrenal hyperplasia (CAH). Spruce is also developing tildacerfont for women suffering from polycystic ovary syndrome (PCOS). To learn more, visit www.sprucebio.com and follow us on Twitter/X @Spruce_Bio, LinkedIn, Facebook and YouTube.View source version on businesswire.com: https://www.businesswire.com/news/home/20230828696222/en/ContactsMedia Contact Will ZasadnyEvoke Canale(619) [email protected] [email protected] Samir GharibPresident and CFOSpruce [email protected]

Business Wire

Spruce Biosciences to Participate in the H.C. Wainwright 25th Annual Global Investment Conference

https://finance.yahoo.com/news/spruce-biosciences-participate-h-c-200000704.html

9cd63cb9-5bc1-360b-919e-9efb5fdd525b

SPRO

Spero Therapeutics, Inc.CAMBRIDGE, Mass., Aug. 31, 2023 (GLOBE NEWSWIRE) -- Spero Therapeutics, Inc. (Nasdaq: SPRO), a multi-asset clinical-stage biopharmaceutical company, focused on identifying, developing and commercializing treatments in high unmet need areas involving rare diseases and multi-drug resistant (MDR) bacterial infections, today announced that on August 25, 2023, the Compensation Committee of Spero’s Board of Directors approved the grant of an aggregate of 83,000 restricted stock unit awards (RSUs) to two new employees under the Spero Therapeutics, Inc. 2019 Inducement Equity Incentive Plan, as amended, or the 2019 Inducement Plan. The RSUs are being granted as inducements material to the new employees becoming employees of Spero in accordance with Nasdaq Listing Rule5635(c)(4).The 2019 Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of Spero (or following a bona fide period of non-employment), as an inducement material to such individuals, entering into employment with Spero, pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules.The RSUs will vest in four equal annual installments beginning on September 1, 2024, subject to the employee's continued employment with Spero on such vesting dates. The RSUs are subject to the terms and conditions of the 2019 Inducement Plan and an RSU agreement covering the grant.About Spero TherapeuticsSpero Therapeutics, headquartered in Cambridge, Massachusetts, is a multi-asset, clinical-stage biopharmaceutical company focused on identifying, developing, and commercializing novel treatments for bacterial infections, including multi-drug resistant bacterial infections and rare diseases.Spero Therapeutics is developing SPR720 as a novel oral therapy candidate for the treatment of a rare, orphan pulmonary disease caused by non-tuberculous mycobacterial infections. Tebipenem HBr is an investigational drug in the United States being developed for the treatment of cUTI, including pyelonephritis, caused by certain bacteria, in adult patients who have limited treatment options; tebipenem HBr is not FDA-approved. Spero Therapeutics also has an IV-administered next generation polymyxin product candidate, SPR206, developed from its potentiator platform, which is in development to treat multi-drug resistant Gram-negative infections in the hospital setting.Story continuesFor more information, visit https://sperotherapeutics.com.Investor Relations Contact: Ted JenkinsVice President, Investor Relations and Strategic [email protected] (617) 798-4039Media Inquiries: Lora Grassilli, Health Media RelationsZeno [email protected]

GlobeNewswire

Spero Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

https://finance.yahoo.com/news/spero-therapeutics-announces-inducement-grants-200500197.html

4a583323-4a70-3301-8d92-f64904e5395a

SPRO

Spero Therapeutics, Inc.CAMBRIDGE, Mass., Sept. 06, 2023 (GLOBE NEWSWIRE) -- Spero Therapeutics, Inc. (Nasdaq: SPRO) (Spero), a multi-asset clinical-stage biopharmaceutical company, focused on identifying, developing and commercializing treatments in high unmet need areas involving rare diseases and multi-drug resistant (MDR) bacterial infections, today announced that Sath Shukla, President and Chief Executive Officer of Spero Therapeutics, will present and be available for one-on-one meetings at the H.C. Wainwright 25th Annual Global Investment Conference, which is taking place September 11-13, 2023, at the Lotte New York Palace Hotel in New York, NY. Details are as follows:H.C. Wainwright 25th Annual Global Investment Conference Corporate Presentation: Tuesday, September 12, 2023, from 11:30 AM-12:00 PM ET Webcast Link: https://journey.ct.events/view/7d04fb43-ff26-406f-9676-dc4aa23e674dThe webcast may also be accessed through Spero Therapeutics’ website (www.sperotherapeutics.com) on the “Events and Presentations” page under the “Connect” tab. Replays will be available on the website following the conclusion of each event.About Spero TherapeuticsSpero Therapeutics, headquartered in Cambridge, Massachusetts, is a multi-asset, clinical-stage biopharmaceutical company focused on identifying, developing, and commercializing novel treatments for bacterial infections, including multi-drug resistant bacterial infections and rare diseases.Spero Therapeutics is developing SPR720 as a novel oral therapy candidate for the treatment of a rare, orphan pulmonary disease caused by non-tuberculous mycobacterial infections.Tebipenem HBr is an investigational drug in the United States being developed for the treatment of cUTI, including pyelonephritis, caused by certain bacteria, in adult patients who have limited treatment options; tebipenem HBr is not FDA-approved.Spero Therapeutics also has an IV-administered next generation polymyxin product candidate, SPR206, developed from its potentiator platform, which is in development to treat multi-drug resistant Gram-negative infections in the hospital setting.Story continuesFor more information, visit https://sperotherapeutics.com.Forward Looking StatementsThis press release may contain forward-looking statements. These statements include, but are not limited to, statements about the design, initiation, timing, progress and results of Spero's preclinical studies and clinical trials and its research and development programs, as well as the regulatory path forward for tebipenem HBr and potential FDA approval, the potential commercialization of tebipenem HBr and its future value, the potential receipt of milestone payments and royalties on future sales under the GSK license agreement, and Spero’s cash runway. In some cases, forward-looking statements can be identified by terms such as "may," "will," "should," "expect," "plan," "aim," "anticipate," "could," "intent," "target," "project," "contemplate," "believe," "estimate," "predict," "potential" or "continue" or the negative of these terms or other similar expressions. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including whether tebipenem HBr, SPR720 and SPR206 will advance through the clinical trial process on a timely basis, or at all, taking into account the effects of possible regulatory delays, slower than anticipated patient enrollment, manufacturing challenges, clinical trial design and clinical outcomes; whether the results of such trials will warrant submission for approval from the FDA or equivalent foreign regulatory agencies; whether the FDA will ultimately approve tebipenem HBr and, if so, the timing of any such approval; whether the FDA will require any additional clinical data or place labeling restrictions on the use of tebipenem HBr that would delay approval and/or reduce the commercial prospects of tebipenem HBr; whether a successful commercial launch can be achieved and market acceptance of tebipenem HBr can be established; whether results obtained in preclinical studies and clinical trials will be indicative of results obtained in future clinical trials; Spero's reliance on third parties to manufacture, develop, and commercialize its product candidates, if approved; Spero’s need for additional funding; the ability to commercialize Spero's product candidates, if approved; Spero's ability to retain key personnel; Spero’s ongoing leadership transitions; whether Spero's cash resources will be sufficient to fund its continuing operations for the periods and/or trials anticipated; and other factors discussed in the "Risk Factors" set forth in filings that Spero periodically makes with the SEC. The forward-looking statements included in this press release represent Spero's views as of the date of this press release. Spero anticipates that subsequent events and developments will cause its views to change. However, while Spero may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Spero's views as of any date subsequent to the date of this press release.Investor Relations Contact: Ted JenkinsVice President, Head of Investor [email protected] (617) 798-4039Media Inquiries: Lora Grassilli, Health Media RelationsZeno [email protected]

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Spero Therapeutics to Present at H.C. Wainwright 25th Annual Global Investment Conference

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