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Paragon Banking FY22 Profit Surges, Lifts Dividend; Plans Up To £50 Mln Share Buyback

Sumo Logic, Inc. Q3 Loss Decreases, beats estimates

Sumo Logic, Inc. (SUMO) released Loss for third quarter that decreased from last year but missed the Street estimates.

The company’s bottom line came in at -$26.3 million, or -$0.22 per share. This compares with -$30.8 million, or -$0.28 per share, in last year’s third quarter.

Excluding items, Sumo Logic, Inc. reported adjusted earnings of -$4.4 million or -$0.04 per share for the period.

Analysts on average had expected the company to earn -$0.15 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 27.4% to $79.0 million from $62.0 million last year.

Sumo Logic, Inc. earnings at a glance (GAAP) :

-Earnings (Q3): -$26.3 Mln. vs. -$30.8 Mln. last year.
-EPS (Q3): -$0.22 vs. -$0.28 last year.
-Analyst Estimates: -$0.15
-Revenue (Q3): $79.0 Mln vs. $62.0 Mln last year.

-Guidance:
Next quarter EPS guidance: $-0.09 – $-0.08
Next quarter revenue guidance: $77.0-$78.0 mln
Full year EPS guidance: $-0.36 – $-0.35
Full year revenue guidance: $298.0-$299.0 mln

Gitlab Inc. Q3 Loss Beats Estimates

Gitlab Inc. (GTLB) released Loss for third quarter that missed the Street estimates.

The company’s earnings totaled -$48.5 million, or -$0.33 per share. This compares with -$41.2 million, or -$0.62 per share, in last year’s third quarter.

Excluding items, Gitlab Inc. reported adjusted earnings of -$15.2 million or -$0.10 per share for the period.

Analysts on average had expected the company to earn -$0.15 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 69.2% to $113.0 million from $66.8 million last year.

Gitlab Inc. earnings at a glance (GAAP) :

-Earnings (Q3): -$48.5 Mln. vs. -$41.2 Mln. last year.
-EPS (Q3): -$0.33 vs. -$0.62 last year.
-Analyst Estimates: -$0.15
-Revenue (Q3): $113.0 Mln vs. $66.8 Mln last year.

-Guidance:
Next quarter EPS guidance: $-0.15 – $-0.14
Next quarter revenue guidance: $119.0-$120.0 mln
Full year EPS guidance: $-0.56 – $-0.55
Full year revenue guidance: $420.5 – $421.5 mln

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By Florence Fabricant

Marston’s Swings To Pre-tax Profit In FY22 As Revenue Almost Doubles

Marston’s Plc (MARS.L), a British pub and hotel operator, on Tuesday posted a turnaround to pre-tax profit for the fiscal 2022, reflecting a surge in revenue, following a recovery from the impact of Covid-19 and the significant restrictions to pub trading during the prior year.

Meanwhile, net profit declined from last year, on the absence of prior year’s profit from discontinued operations.

For the full-year to October 1, the Wolverhampton-headquartered company posted a pre-tax income of 163.4 million pounds, compared with a loss of 171.1 million pounds of 2021.

Post-tax income, meanwhile, fell to 137.2 million pounds or 21.4 pence per share from last year’s 162 million pounds or 25.7 pence per share a year ago.

On a continuing operations basis, prior year’s net loss was 128.3 million pounds or 20.3 pence per share of 2021.

Underlying profit before tax was 27.7 million pounds, compared to loss of 101.3 million pounds. Underlying earnings per share were 4.3 pence, compared to loss of 13.6 pence last year.

The company registered an operating profit of 145.4 million pounds as against a loss of 105 million pounds last year.

Marston’s generated revenue of 799.6 million pounds, higher than 401.7 million pounds recorded a year ago.

Regarding the current trading and outlook, the company said its trading since the year end remains encouraging. Like-for-like sales in managed and franchised pubs are up 6.8% from the same period last year.

Paragon Banking FY22 Profit Surges, Lifts Dividend; Plans Up To £50 Mln Share Buyback

Paragon Banking Group plc (PAG.L) reported Tuesday that its fiscal 2022 profit before tax increased 95.6 percent to 417.9 million pounds from last year’s 213.7 million pounds.

Earnings per share were up 98.2 percent to 129.2 pence from 65.2 pence last year.

Underlying earnings per share were 69.9 pence, compared to 59.3 pence a year ago.

Total operating income grew to 393.0 million pounds from last year’s 324.9 million pounds. Net interest income was 371.2 million pounds, up from 310.5 million pounds in the last year.

Further, the company announced total dividend of 28.6 pence per share, up 9.6 percent, reflecting smoothing of pandemic catch-ups in 2021.

The Board also decided that it was appropriate to authorise a further buy-back programme of up to 50.0 million pounds for the 2023 financial year. This will commence shortly after the announcement of the Group’s 2022 year end results.

Looking ahead, Nigel Terrington, Chief Executive, said, “Our cautious risk appetite, high quality loan book and extensive through-the-cycle experience ensure we are well positioned as we head into 2023 and are fully prepared to support our customers’ needs.”

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