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Toro Co Q4 Profit Up, Above Estimates – Update

Russia Launches Rare Overnight Drone Attacks In Kyiv

Russian forces carried out rare overnight drone attacks in Ukrainian capital Kyiv, injuring two and damaging a critical infrastructure facility.

A Ukrainian military commander accused Russia of using Iranian-made Shahed attack drones Monday morning. Serhiy Popko, head of Kyiv’s military administration, claimed that Ukrainian forces shot down most of them.

Solomyanskyi district and Shevchenkivskyi district were the most-affected in Monday’s attacks, causing blackout across the region.

The latest round of Russian attack comes three days after four people were killed in widespread missile and drone attacks launched across Ukraine.

Russia has intensified attacks since October, targeting Ukraine’s energy system and civilian infrastructure, causing power outages in the freezing winter.

Meanwhile, Russian President Vladimir Putin is to meet his close ally Belarus President Alexander Lukashenko in Minsk Monday.

Ukraine’s President Volodymyr Zelensky had warned that Russia could be planning a Belarus-based major attack in January.

In his nightly address on Sunday, Zelensky said power has been restored to 9 million people who were left in darkness after Russian forces targeted several Ukrainina cities with dozens of missiles Friday.

The country’s nine power generation facilities were damaged in the attacks.

NIKE Stock Gains 15% On Q2 Results

Shares of NIKE, Inc. (NKE) are gaining nearly 15% on Wednesday morning after reporting its second-quarter results.

NKE is currently trading at $118.57, up $15.36 or 14.88%, on the NYSE. Nike opened its trading at $103.00 after closing Tuesday’s trading at $103.21. The stock has traded between $82.22 and $170.12 in the past 52-week period.

The company reported second-quarter profit of $1.33 billion or $0.85 per share, compared to $1.34 billion or $0.83 per share in last year’s second quarter. Analysts expected earnings of $0.65 per share.

The company’s revenue for the quarter rose 17% to $13.32 billion from $11.36 billion last year.

Revenues for the NIKE Brand were $12.7 billion, up 18 percent on a reported basis and up 28 percent on a currency-neutral basis, with strong growth across all geographies and channels.

Revenues for Converse were $586 million, up 5 percent on a reported basis and up 12 percent on a currency-neutral basis, led by double-digit growth in North America, partially offset by declines in Asia.

Pebblebrook Hotel Trust Slips 8% On Q4, FY22 Outlook Cut

Shares of Pebblebrook Hotel Trust (PEB) slipped over 8% on Wednesday morning after real estate investment trust lowered its outlook for the fourth quarter and full year.

PEB is currently trading at $13.24, down $1.19 or 8.24%, on the NYSE. The stock opened its trading at $13.58 after closing Tuesday’s trading at $14.43. The stock has traded between $13.05 and $26.14 in the past 52-week period.

Looking forward to the fourth quarter, the company expects adjusted FFO per share of $0.13 to $0.16, and net loss of $39.9 million to $35.9 million. Previously, the company expected adjusted FFO per share of $0.18 to $0.24 and net loss of $32.2 million to $24.2 million.

For the full year 2022, the company expects adjusted FFO per share of $1.61 to $1.64 and net loss of $85.1 million to $81.1 million. Previously, the company expected adjusted FFO per share of $1.66 to $1.72 and net loss of $77.4 million to $69.4 million.

The company said that November’s Same-Property operating results significantly exceeded last year’s performance, but they were still below the previously provided outlook due to a negative impact from Hurricane Nicole and weaker business and leisure demand during the second half of the month, which may relate to new seasonal patterns around holidays due to hybrid work.

Laser Photonics Surges On Receipt Of Order From Vitro Architectural Glass

Laser Photonics Corp. (LASE) shares are advancing more than 32 percent on Wednesday morning trade after the company announced that it received an order from Vitro Architectural Glass.

Laser Photonics noted that Vitro was looking for a cost-effective technology solution that could handle delicate processes such as residue removal during the glass framing process. Laser Photonics’ Cleantech 1500 JobSite is used for the new application of its technology.

MingZhu Logistics To Acquire Feipeng Global In $15 Mln Transaction

Trucking service provider MingZhu Logistics Holdings Ltd. (YGMZ) announced a Share Purchase Agreement to acquire Feipeng Global Limited in Xinjiang, China for $15 million. Under terms of the SPA, $10 million will be paid in cash.

The acquisition is expected to expand the critical first and last-mile slack coal transport network and will be immediately accretive to MingZhu’s revenue, gross margin and net income.

Feipeng shall receive a certain number of shares valued at approximately $5 million if it achieves a targeted net income of $2.4 million during the calendar year 2023.

Six Flags Climbs 11% On Reports That Activist Investor Urged To Sell Real Estate Entities

Six Flags Entertainment Corp. (SIX) shares are gaining more than 11 percent on Wednesday morning trade upon reports that Land & Buildings Investment Management LLC acquired 3 percent of the Six Flags shares. Wall Street Journal reported that the activist investor is urging the company to sell or spin-off real estate entities.

Currently, shares are at $23.20, up 10.95 percent from the previous close of $20.92 on a volume of 695,960.

Toro Co Q4 Profit Up, Above Estimates – Update

(Adds Outlook)

Toro Co (TTC) released a profit for its fourth quarter that increased from last year and beat the Street estimates.

The company’s earnings totaled $117.557 million, or $1.12 per share. This compares with $60.108 million, or $0.56 per share, in last year’s fourth quarter.

Excluding items, Toro Co reported adjusted earnings of $117.260 million or $1.11 per share for the period.

Analysts on average had expected the company to earn $1.09 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 21.9% to $1.171 billion from $960.655 million last year.

Outlook:

Looking ahead, for the fiscal 2023, the company expects adjusted EPS of $4.70 to $4.90. Five analysts, on average, polled by Thomson-Reuters estimate the firm to report income per share of $4.84, for the full year. Analysts’ estimates typically exclude one-time items.

TTC also expects annual sales growth of 7 percent to 10 percent from $4.51 billion reported last year. Analysts, on average, project the firm to report sales of $4.99 billion for the period.

Toro Co earnings at a glance (GAAP) :

-Earnings (Q4): $117.557 Mln. vs. $60.108 Mln. last year.
-EPS (Q4): $1.12 vs. $0.56 last year.
-Analyst Estimate: $1.09
-Revenue (Q4): $1.171 Bln vs. $960.655 Mln last year.