Dycom Q1 Adj. EBITDA Rises; Contract Revenues Up 21.1% Organically

Mediclinic International FY22 Profit Surges

Mediclinic International Plc (MDC.L), an African hospital group, on Wednesday posted a significant surge in earnings for the fiscal 2022, amidst a rise in revenues, supported by an increase in client activity and a recovery from the impact of Covid-19.

“As disruption from the pandemic receded, the fundamental demand for our broad range of healthcare services drove inpatient and day case revenue up 7%, and outpatient revenue up 10% compared with the prior year. Encouragingly, revenue and earnings exceeded pre-pandemic FY20 levels in all three divisions,” Dr.Ronnie van der Merwe, group chief executive said in a statement.

For the 12-month period to March, the company posted a profit of 170 million pounds or 20.5 pence per share, compared with 79 million pounds or 9.2 pence per share of 2021.

Per-tax profit was at 211 million pounds, higher than 104 million pounds, reported a year ago.

Operating income moved up to 280 million pounds, from 209 million pounds of previous year.

Mediclinic also posted a rise in revenues at 3.233 billion pounds, compared with 2.995 billion pounds, on year-on-year basis.

The Board has proposed a final dividend of 3 pence per share for the year ended on March 31.

Looking ahead, the company said: “…In FY23, we expect a combination of volume growth and efficiency gains to continue to drive the Group towards pre-pandemic profitability, alongside a meaningful improvement in earnings.”

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Gold Slips As Investors Await Fed Minutes

Gold prices slipped on Wednesday, as the U.S. dollar snapped a two-day losing streak and Treasury yields paused recent falls ahead of the release of minutes of the Federal Reserve’s May policy review later in the day.

Spot gold dipped 0.6 percent to $1,855.74 a barrel, while U.S. gold futures were down 0.6 percent at $1,854.36.

The dollar strengthened today after having lost over 1 percent in the first two days of the week.

The euro slipped from a one-month high versus the dollar after the European Central Bank in its biannual financial stability review said exposure to crypto by banks and other financial institutions on a wide scale could put capital at risk and damage investor confidence, lending and financial markets.

The FOMC will release the minutes of its May policy meeting later in the day, with investors looking for additional clues around upcoming rate hikes and the Fed’s balance sheet reduction plan.

Bank of Montreal Reveals Rise In Q2 Profit

Bank of Montreal (BMO.TO) reported a profit for its second quarter that increased from last year

The company’s bottom line came in at C$4.76 billion, or C$7.13 per share. This compares with C$1.30 billion, or C$1.91 per share, in last year’s second quarter.

Excluding items, Bank of Montreal reported adjusted earnings of C$2.19 billion or C$3.23 per share for the period.

The company’s revenue for the quarter rose 53.3% to C$9.32 billion from C$6.08 billion last year.

Bank of Montreal earnings at a glance (GAAP) :

-Earnings (Q2): C$4.76 Bln. vs. C$1.30 Bln. last year.
-EPS (Q2): C$7.13 vs. C$1.91 last year.
-Revenue (Q2): C$9.32 Bln vs. C$6.08 Bln last year.

Photronics Q2 Profit Tops Estimates; Sees Q3 Results Above Market

Semiconductor photomask maker Photronics, Inc. (PLAB) reported Wednesday that its second-quarter net income attributable to shareholders was $29.84 million or $0.49 per share, nearly triple the prior year’s net income of $10.53 million or $0.17 per share.

On average, three analysts polled by Thomson Reuters expected earnings of $0.35 per share for the quarter. Analysts’ estimates typically exclude special items.

Revenue was $204.51 million, up 28 percent from prior year’s $159.76 million. Revenues grew 8 percent sequentially. Analysts estimated revenues of $192.37 million for the quarter.

For the third quarter, Photronics expects net income to be between $0.45 and $0.55 per share and revenue to be between $205 million and $215 million.

Analysts expect earnings of $0.37 per share on revenues of $196.4 million for the quarter.

In pre-market activity on Nasdaq, Photronics shares were gaining around 8 percent to trade at $16.25.

Dycom Q1 Adj. EBITDA Rises; Contract Revenues Up 21.1% Organically

Dycom Industries, Inc. (DY) reported first quarter non-GAAP adjusted EBITDA of $63.7 million compared to $44.1 million, last year. GAAP net income was $19.5 million, or $0.65 per share compared to $0.9 million, or $0.03 per share, last year. The company noted that the GAAP results included income tax benefits of $0.09 per share for the vesting and exercise of share-based awards, and $0.05 per share for tax credits related to a tax filing for a prior year.

On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $0.16, for the quarter. Analysts’ estimates typically exclude special items.

Contract revenues were $876.3 million for the first quarter, compared to $727.5 million in the year ago period. Contract revenues increased 21.1% organically, for the quarter. Analysts on average had estimated $779.5 million in revenue.

The company expects contract revenues for the second quarter to increase mid-teens to 20% as a percentage of contract revenues as compared to a year ago. Non-GAAP adjusted EBITDA as a percentage of contract revenues is expected to range from in-line to modestly higher for the second quarter as compared to prior year.