Clariant To Sell Quats Business For $113 Mln

Hewlett Packard Q3 Profit Rises

Hewlett Packard Enterprise (HPE) Tuesday reported results for the third quarter, with both earnings and revenues increasing from last year. The company also revised outlook for the full year.

Net income for the third quarter rose to $409 million or $0.31 per share, up from $392 million or $0.29 per share last year. Adjusted earnings for the quarter were $0.48 per share, which was in line with analysts’ consensus estimate.

Third-quarter revenues of $6.95 billion, up from $6.90 billion last year. Analysts had a consensus revenue estimate of $6.97 billion.

Intelligent Edge revenue was up 8% to $941 million, while High Performance Computing & Artificial Intelligence revenue were up 12% to $830 million. Compute revenue was $3.0 billion, down 3% from the prior-year period, while storage revenue was $1.2 billion, down 2%. Financial Services revenue was $817 million, down 3% from the prior-year period.

Further, Board of Directors declared a dividend of $0.12 per share, payable on October 7, 2022, to stockholders as of September 12.

Looking forward to the fourth quarter, Hewlett Packard expects earnings of $0.32 to $0.40 per share and adjusted earnings of $0.52 to $0.60 per share.

For the full year 2022, Hewlett Packard Enterprise now expects earnings of $1.20 to $1.28 per share and adjusted earnings of $1.96 to $2.04 per share. Previously, the company expected earnings of $1.17 to $1.31 and adjusted earnings of $1.96 to $2.10 per share.

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Great Value Walnut Chopped 4oz. Pouches Sold At Walmart Recalled

South Georgia Pecan Co. is recalling Great Value Walnut Chopped 4oz. pouches due to mislabeling and undeclared pecans, a known allergen, the U.S. Food and Drug Administration said. The products were sold at Walmart retail stores at various states.

The recall involves Great Value Walnut Chopped Pieces that comes in 4oz. resealable pouch with lot code 29329, UPC 78742201344 and use by date of April 29, 2023.

The product was shipped to select Walmart retail stores located in the States of Florida, North Carolina, and South Carolina. They were distributed between August 8 and August 16, 2022.

The pouches contain pecan pieces instead of walnuts. The agency noted that a packaging run of pecans was labeled as Chopped Walnuts.

The recall has been initiated due to mislabeling issue after the firm was notified by retailer that Great Value 4oz. Walnut Chopped Pouches contained pecan pieces.

People who have an allergy or severe sensitivity to pecans may get serious or life-threatening allergic reaction if they consume the recalled product.

However, the company has not received any reports of illnesses related to the affected item to date.

Consumers who have purchased these products are urged to return them to the place of purchase for a full refund or they may discard the product.

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Chesnara Posts Loss In H1

Chesnara PLC (CSN.L) posted a first half pretax loss of 104.6 million pounds compared to profit of 20.8 million pounds, prior year. Loss per share was 44.87 pence compared to profit of 11.81 pence. The Group noted that the pretax loss for the period was driven by adverse investment conditions. Economic value was 526.7 million pounds or 351 pence per share, for the period.

Net insurance premium revenue increased to 138.0 million pounds from 131.7 million pounds, prior year. Fee and commission income increased to 46.3 million pounds from 45.7 million pounds.

The Board has declared a 2022 interim dividend of 8.12 pence per share, which is a 3% increase from last year. The interim dividend is expected to be paid on 21 October 2022. The record date for eligibility for payment will be 9 September 2022.

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Cake Box Sees Full Year Profitability Significantly Below Market Forecasts

Cake Box Holdings plc said, due to the worsening outlook and increasing cost of living pressures on the consumer, the Group now expects full year profitability to be significantly below current market forecasts. The Group noted that it is taking proactive action to mitigate the impact of increased input and administrative costs and to protect levels of profitability, including implementing supply price increases.

Cake Box said the trading environment has become significantly more challenging. Inflationary cost pressures across the Group have increased above levels previously anticipated and the Board does not see these easing before the end of the fiscal year. As a result, the full year gross margin will be impacted. Also, the Group has seen weaker than anticipated sales at the franchise level during July and August which has resulted in franchisee Like for Like sales declining 2.8% in the first half to date.

Clariant To Sell Quats Business For $113 Mln

Clariant AG (CLZNY.PK,CRN.L,CLZNF.PK), a Swiss specialty chemical company, said on Wednesday that it has inked a deal to sell its Quats business to Global Amines Company Pte. Ltd., for $113 million.

This is part of Clariant’s intention to more focus on specialty chemicals. Quats are quaternary ammonium compounds and are used in a wide range of commercial, industrial, and consumer products.

Global Amines Company is a 50:50 joint venture owned by Clariant and Wilmar, an agricultural business firm.

The transaction, which includes an asset sale of the company sites in Germany, Indonesia, and Brazil, is expected to close in the first half of 2023.