New Fortress Energy Continues Downward Spiral

Kohl`s Corp. Q3 Profit Decreases, but beats estimates

Kohl`s Corp. (KSS) reported earnings for third quarter that decreased from last year but beat the Street estimates.

The company’s earnings came in at $97 million, or $0.82 per share. This compares with $243 million, or $1.65 per share, in last year’s third quarter.

Excluding items, Kohl`s Corp. reported adjusted earnings of $97 million or $0.82 per share for the period.

Analysts on average had expected the company to earn $0.78 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter fell 7.3% to $4.05 billion from $4.37 billion last year.

Kohl`s Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $97 Mln. vs. $243 Mln. last year.
-EPS (Q3): $0.82 vs. $1.65 last year.
-Analyst Estimates: $0.78
-Revenue (Q3): $4.05 Bln vs. $4.37 Bln last year.

U.S. Business Inventories Rise Slightly Less Than Expected In September

The Commerce Department released a report on Wednesday showing U.S. business inventories increased by slightly less than expected in the month of September.

The report said business inventories rose by 0.4 percent in September after climbing by an upwardly revised 0.9 percent in August.

Economists had expected inventories to increase by 0.5 percent compared to the 0.8 percent advance originally reported for the previous month.

Wholesale inventories climbed by 0.6 percent, while retail inventories rose by 0.4 percent and manufacturing inventories inched up by 0.2 percent.

Meanwhile, the report showed business sales crept up by 0.2 percent in September after rising by 0.3 percent in August.

While wholesale and manufacturing sales rose by 0.4 percent and 0.2 percent, respectively, retail sales edged down by 0.1 percent.

With inventories and sales both rising, the total business inventories/sales ratio was unchanged from the previous month at 1.33.

Amedisys CEO Chris Gerard Step Down; Confirms FY Guidance

Amedisys Inc. (AMED) said that President and Chief Executive Officer, Chris Gerard, will leave the company effective November 17, 2022. The company’s Chairman, Paul Kusserow, will take over as Chief Executive Officer until a new Chief Executive Officer is identified.

Amedisys confirmed its full year guidance.

“We are on track to meet the guidance range that was previously released. We look forward to producing predictable results that will instill confidence in our shareholders,” said Paul Kusserow, Chairman and CEO.

New Jersey Resources Q4 Profit Tops Estimates

New Jersey Resources Corp. (NJR) reported fourth-quarter net financial earnings of $47.9 million, or $0.50 per share, compared to $6.6 million, or $0.07 per share, a year ago. On average, six analysts polled by Thomson Reuters expected the company to report profit per share of $0.43, for the quarter. Analysts’ estimates typically exclude special items.

Net income was $54.5 million, or $0.56 per share, compared with a net loss of $1.1 million, or $0.01 per share, prior year.

Total operating revenues increased to $765.49 million from $532.53 million, last year. Analysts on average had estimated $428.91 million in revenue.

Looking forward, the company introduced fiscal 2023 net financial earnings per share guidance range of $2.42 to $2.52. The company maintained long-term projected NFEPS growth rate of 7 to 9 percent.

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Federal Signal To Buy Blasters For Initial $14 Mln; FSS Down In Pre-market

Federal Signal Corporation (FSS), a safety solutions provider, said on Thursday that it has inked an agreement to buy Blasters, Inc., for an initial price of $14 million.

Blasters is a designer, maker, and seller of the Liquidator, an ultra-high pressure, water-based, road-marking, and rubber-removal truck.

The deal also includes an earn-out payment of up to $8 million.

FSS expects to complete the transaction over the next 90 days.

Jennifer L. Sherman, Chief Executive Officer, said: “The acquisition further bolsters our position as an industry-leading diversified industrial manufacturer of specialized vehicles for maintenance and infrastructure markets with leading brands of premium, value-adding products, and a strong supporting aftermarket platform.”

FSS is trading down by 0.83 percent at $48.80 per share in pre-market on the New York Stock Exchange.

Bath & Body Works Spikes On Q3 Profit, Outlook

Bath & Body Works, Inc. (BBWI) shares are surging more than 20 percent on Thursday morning after the company reported an increase in third-quarter earnings, despite a slight dip in revenues. The specialty retailer also raised its outlook for fiscal 2022.

The company reported quarterly earnings of $91.03 million compared to $87.81 million a year ago. On a per-share basis, earnings climbed to $0.40 from $0.33 last year. Adjusted earnings from continuing operations were $0.40 per share.

Looking ahead to the fourth quarter, Bath and Body expect earnings per share from continuing operations between $1.45 and $1.65.

For fiscal 2022, the company upped its earnings outlook from continuing operations to $3.00- $3.20, from its prior projection of $2.70 -$3.00.

Currently, shares are at $36.24, up 16.40 percent from the previous close of $31.13 on a volume of 6,007,359.

New Fortress Energy Continues Downward Spiral

Shares of integrated gas-to-power company New Fortress Energy Inc. (NFE) are down 6 percent on Thursday’s trading continuing their downward trend since the past few days.

The stock has been slipping ever since it reported third quarter earnings, which came in below the Street estimates. The company reported a profit of $61.85 million or $0.29 per share in the quarter, compared with a loss of $9.81 million or $0.05 per share a year ago.

Excluding one-time items, earnings were $85.61 million or $0.41 per share, that missed the average estimate of 7 analysts polled by Thomson-Reuters of $0.80 per share.

Currently at $46.58, the stock has traded between $19.17 and $63.06 during the past 52 weeks.