Martin Marietta Q4 Profit Down, But Beats Street
Martin Marietta Materials, Inc. (MLM) a national supplier of aggregates and heavy building materials, on Thursday reported results for the fourth quarter ended December 31, 2021 that showed a fall in earnings despite the growth in revenue. Earnings and revenue surpassed Street’s expectations.
Net earnings for the period were $156.8 million or $2.50 per share as compared to $183.0 million or $2.93 per share in the corresponding quarter of the prior period.
Adjusted earnings per diluted share from continuing operations was $3.15 as compared to $2.93 in the previous period. 15 analysts polled by Thomson Reuters were expecting the company to report earnings of $2.92 per share. Analysts typically exclude one-time items.
Products and services revenues for the period were $1.40 billion as compared to $1.11 billion in the fourth quarter of the previous year. 7 analysts polled by Thomson Reuters were expecting the company to report revenues of $1.34 billion.
Earnings from operations was $210 million, as compared to $240.6 million in the previous period.
For 2022, the company expects products and service revenues between $5,780 million and $5,980 million. Net earnings is seen between $805 million and $915 million whereas adjusted EBITDA is seen between $1700 million and $1800 million.
Shares of Martin Marietta Materials are currently trading in premarket at $ 383.50, up $0.35 or 0.09 percent from previous close.
Precision Drilling Q4 Loss Narrows – Quick Facts
Precision Drilling Corp. (PDS,PD.TO) reported Thursday that its fourth-quarter net loss widened to C$27.34 million or C$2.05 per share from C$37.52 million or C$2.74 per share in the prior-year quarter.
Revenue for the quarter surged 46.4 percent to C$295.20 million from C$201.69 million in the same quarter last year.
On average, analysts polled by Thomson Reuters expected the company to report a loss of C$1.41 per share on revenues of C$222.29 million for the quarter. Analysts’ estimates typically exclude special items.
American Rebel Holdings Surges 65% After Closing $10.5 Mln Offering
Shares of American Rebel Holdings, Inc. (AREB) surged nearly 65% on Thursday morning after the company announced the closing of $10.5 million public offering.
AREB is currently trading at $3.54, up $1.39 or 64.6512%, on the Nasdaq.
American Rebel Holdings closed its previously announced public offering of 2.5 million units at $4.15 per common unit, for proceeds of about $10.5 million.
The company intends to use the proceeds to repay various outstanding indebtedness and for general corporate purposes, including working capital, increased research and development expenditures and funding its growth strategies.
British retailers purge unethical suppliers
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Twenty percent of UK retailers cancelled contracts as part of a clean up of supply chains, according to Barclays Corporate Banking. The most common reasons were use of unsustainable materials, at 39 percent, and unfair working hours at 37 percent.
Barclays said retailers were adapting to demands from consumers, particularly younger shoppers, for higher ethical standards.
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‘Romance’: But What Does She Really Want?
Long out of distribution, Catherine Breillat’s 1999 film returns, newly restored, as the centerpiece of a retrospective on the filmmaker at the IFC Center.
By J. Hoberman
Alnylam Pharmaceuticals Inc. Q4 Earnings Summary
Below are the earnings highlights for Alnylam Pharmaceuticals Inc. (ALNY):
Earnings: -$258.46 million in Q4 vs. $243.54 million in the same period last year.
EPS: -$2.16 in Q4 vs. -$2.09 in the same period last year.
Excluding items, Alnylam Pharmaceuticals Inc. reported adjusted earnings of -$203.01 million or -$1.69 per share for the period.
Analysts projected -$1.54 per share
Revenue: $258.64 million in Q4 vs. $163.56 million in the same period last year.
Udemy Stock Slips 12% After Reporting Q4 Results, Outlook
Shares of Udemy, Inc. (UDMY) are slipping nearly 13% on Thursday morning after the company reported its fourth-quarter results and issued an outlook for the full year 2022.
UDMY is currently trading at $13.96, down $2.05 or 12.80%, on the Nasdaq.
Revenue totaled $138.0 million, up 25% year over year.
Fourth-quarter net loss was $38.9 million or $0.36 per share, compared to last year’s loss of $27.0 million or $0.77 per share. Adjusted loss for the quarter was $26.8 million or $0.25 per share, compared to loss of $18.9 million or $0.53 per share last year.
Analysts polled by Thomson Reuters expected a loss of $0.23 per share and revenues of $132.49 million.
Looking forward, the company expects revenues of $144.0 million to $148.0 million and $610.0 million to $640.0 million for the first quarter and full year 2022, respectively.
Analysts currently estimate revenues of $152.38 million and $628.3 million for the first quarter and full year 2022.