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Drax Group Now Sees 2022 Adj. EBITDA Slightly Above Top Of Range Of Analyst View

After Musk Takeover, Twitter Cuts Back On Office Rent Dues

In a move aimed at cutting costs after Elon Musk’s dramatic $44 billion acquisition of Twitter, the social media platform has stopped paying rent, said a report from The New York Times.

The company has not paid the rent for its global offices or San Francisco headquarters in weeks, as per the report. This is because Elon Musk’s team has been trying to hammer it out the terms of the lease. Following this, Twitter has been receiving complaints from real estate firms like Shorenstein, which is the owner of Twitter’s San Francisco buildings.

Representatives for Shorenstein and Musk did not immediately respond to requests for comment. Interestingly, Twitter no longer has a communications department.

Musk had earlier said that Twitter faced a big drop in revenue after his acquisition. Without any figures or evidence, he said in a tweet that the revenue drop was due to activist groups putting pressure on advertisers.

Though many companies had stopped advertising on Twitter, big names like Apple and Amazon are now back with their ads on the platform.

Musk has also revamped Twitter’s subscription service, Twitter Blue, with the hope of generating fresh revenue for the company. The service was launched on Monday following a delay in November.

Twitter Blue costs $8 a month for web users and $11 a month for iOS users who purchase it through Apple’s App Store. The $3 iOS price difference shows Musk’s recent complaints about Apple’s 30 percent cut of all digital sales made through apps.

Markets rise as investors bet on a shift at the Fed.

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Planet Labs PBC Q3 Loss decreases, beats estimates

Planet Labs PBC (PL) released Loss for third quarter that decreased from the same period last year and beat the Street estimates.

The company’s earnings totaled -$40.2 million, or -$0.15 per share. This compares with -$41.5 million, or -$0.88 per share, in last year’s third quarter.

Analysts on average had expected the company to earn -$0.17 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 56.8% to $49.7 million from $31.7 million last year.

Planet Labs PBC earnings at a glance (GAAP) :

-Earnings (Q3): -$40.2 Mln. vs. -$41.5 Mln. last year.
-EPS (Q3): -$0.15 vs. -$0.88 last year.
-Analyst Estimates: -$0.17
-Revenue (Q3): $49.7 Mln vs. $31.7 Mln last year.

-Guidance:
Next quarter revenue guidance: $50-$54 mln
Full year revenue guidance: $188-$192 mln

Lennar Corp. Q4 Income Advances, but misses estimates

Lennar Corp. (LEN.B) released a profit for its fourth quarter that increased from the same period last year but missed the Street estimates.

The company’s earnings came in at $1.32 billion, or $4.55 per share. This compares with $1.19 billion, or $3.91 per share, in last year’s fourth quarter.

Analysts on average had expected the company to earn $4.89 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 20.6% to $10.17 billion from $8.43 billion last year.

Lennar Corp. earnings at a glance (GAAP) :

-Earnings (Q4): $1.32 Bln. vs. $1.19 Bln. last year.
-EPS (Q4): $4.55 vs. $3.91 last year.
-Analyst Estimate: $4.89
-Revenue (Q4): $10.17 Bln vs. $8.43 Bln last year.

RCI Hospitality Holdings Inc. Q4 Income Advances

RCI Hospitality Holdings Inc. (RICK) released a profit for its fourth quarter that increased from the same period last year

The company’s bottom line totaled $10.61 million, or $1.15 per share. This compares with $2.30 million, or $0.26 per share, in last year’s fourth quarter.

Excluding items, RCI Hospitality Holdings Inc. reported adjusted earnings of $13.40 million or $1.45 per share for the period.

The company’s revenue for the quarter rose 29.9% to $71.38 million from $54.94 million last year.

RCI Hospitality Holdings Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $10.61 Mln. vs. $2.30 Mln. last year.
-EPS (Q4): $1.15 vs. $0.26 last year.
-Revenue (Q4): $71.38 Mln vs. $54.94 Mln last year.

The Year’s Best Books on Wine (and Whisky)

These six volumes, all published in 2022, are illuminating, surprising and just plain useful guides to better understanding wine and spirits.

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By Eric Asimov

Trip.com Group Limited Q3 Earnings Summary

Below are the earnings highlights for Trip.com Group Limited (TCOM):

Earnings: RMB266 million in Q3 vs. -RMB849 million in the same period last year.
EPS: RMB0.41 in Q3 vs. -RMB1.32 in the same period last year.
Excluding items, Trip.com Group Limited reported adjusted earnings of RMB1.03 billion or RMB1.58 per share for the period.

Revenue: RMB6.90 billion in Q3 vs. RMB5.35 billion in the same period last year.

Drax Group Now Sees 2022 Adj. EBITDA Slightly Above Top Of Range Of Analyst View

Drax Group plc (DRX.L) announced the Group now expects that full year adjusted EBITDA for 2022 will be slightly above the top of the range of analyst expectations. The Group continues to expect net debt to adjusted EBITDA to be significantly below 2x at the end of 2022.

In December, the Group agreed a new 200 million pounds credit facility with banks within its lending group. The facility provides an additional source of liquidity to the undrawn 300 million pounds revolving credit facility, over the next 12 months.

Drax will report its full year results on 23 February 2023.