Ingredion EPS beats by $0.23, beats on revenue Ingredion(NYSE:INGR): Q1 Non-GAAP EPS of $1.85beats by $0.23; GAAP EPS of -$3.66misses by $5.32. Revenue of $1.61B (+4.5% Y/Y)beats by $30M. Press Release Double-digit adjusted EPS growth reflects specialties ingredients momentum and strong execution across the Company’s regions. Related to the Arcor joint venture announcement, reported results reflect a $360 million held for sale impairment charge, including $311 million of cumulative translation losses. The Company expects second quarter 2021 net sales and operating income to be up significantly due to volume recovery and specialties growth when compared to the second quarter of 2020.
First Quarter 2021 Highlights • Net revenue was $529.4 million, an increase of 71.6% year-over-year. Gamer and creator peripherals segment net revenue was $175.9 million, an increase of 131.9% year-over-year. Gaming components and systems segment net revenue was $353.5 million, an increase of 51.9% year-over-year. • Gross profit was $160.3 million, an increase of 103.9% year-over-year, with gross margin of 30.3%, an improvement of 480 basis points year-over-year. Gamer and creator peripherals segment gross profit was $68.9 million, an increase of 211.1% year-over-year. Gaming components and systems segment gross profit was $91.5 million, an increase of 61.9% year-over-year. • Operating income was $67.3 million, an increase of 404.5% year-over-year. • Adjusted operating income was $80.4 million, an increase of 221.4% year-over-year. • Net income was $46.7 million, or $0.47 per diluted share, compared to net income of $1.2 million in the same period last year, or $0.01 per diluted share. • Adjusted net income was $58.2 million, or $0.58 per diluted share, an increase of 420.4% year-over-year compared to adjusted net income of $11.2 million in the same period last year, or $0.13 per diluted share. • Adjusted EBITDA was $80.4 million, an increase of 196.6% year-over-year, with adjusted EBITDA margin of 15.2%, an improvement of 640 basis points year-over-year. • As of March 31, 2021, we had cash and restricted cash of $125.6 million, $48.1 million capacity under our revolving credit facility and total long-term debt of $294.3 million. • Cash flows from operations was $27.8 million, which increased from $2.0 million in the same period last year.
Leidos EPS beats by $0.26, beats on revenue Leidos(NYSE:LDOS): Q1 Non-GAAP EPS of $1.73beats by $0.26; GAAP EPS of $1.42beats by $0.28. Revenue of $3.32B (+14.9% Y/Y)beats by $70M. Q1 Non-GAAP operating margin was 11.1% vs. a consensus of 9.9%. Guides FY21 revenue of $13.7B-$14.1B vs. a consensus of $13.87B and EPS of $6.35-$6.65 vs. a $6.38 consensus.
Damn it we are fools Van! We let Vtech beat us to the punch!!! & Cathy!!! Cathie Wood's ARK Investment discloses 230K shares of Roblox bought today Roblox initiated with an Overweight at JPMorgan 07:28 RBLX JPMorgan analyst Alexia Quadrani initiated coverage of Roblox with an Overweight rating and $85 price target. Roblox "uniquely offers investors exposure to multiple growth megatrends," including mobile gaming, social networking, user-generated content, and digital identity, Quadrani tells investors in a research note. The analyst believes execution on its closed platform model alone can drive "steady" long-term returns for investors. AAAArrrrrrrgggggggg
Dada Nexus initiated with a Buy at Citi 08:08 DADA Citi analyst Alicia Yap initiated coverage of Dada Nexus with a Buy rating and $36 price target. The analyst is positive on Dada citing its leading position and the "unique" synergies between its on-demand delivery and on-demand retail platforms. Yap believes the company is "uniquely positioned" to benefit from the gradual convergence of community group-buy and local retail consumption themes in China. Unusual call flow in option market yesterday 07:35 LUMN Notable call activity was cited Monday in Lumen Technologies (LUMN). Berry Global backs FY21 free cash flow view of $875M-$975M 07:25 BERY Golden Ocean price target raised to $12 from $8 at BTIG 07:21 GOGL BTIG analyst Gregory Lewis raised the firm's price target on Golden Ocean to $12 from $8 and keeps a Buy rating on the shares as part of a broader research note on Dry Bulk Shipping. The analyst cites the Baltic Dry Index surging over 3,000 last week - its highest level in over a decade - amid increased demand for iron ore, coal, and grain. Global electricity demand is also expected to rebound 4%-5% this year, which is expected to push seaborne coal volumes 6%-7% higher, Lewis tells investors in a research note. Floor & Decor price target raised to $136 from $107 at Citi 06:35 FND
Alfi 3.731M share IPO priced at $4.15 06:29 ALF King Infrastructure and Energy Alternatives initiated with a Buy at Guggenheim 06:09 IEA Cathie Wood's ARK Investment buys 308.9K shares of Ionis Pharmaceuticals today 20:58 IONS Avangrid reports Q1 adjusted EPS $1.14, consensus 74c 16:28 AGR Reports Q1 revenue $1.97B, consensus $1.81B. "We are off to a strong start to the year and remain focused on execution," said Dennis V. Arriola, chief executive officer of AVANGRID. "I am pleased that our first quarter results continued the positive momentum that we started last year. We appreciate the continued commitment of our employees to serving our customers safely and reliably in this challenging environment."
XPO Logistics raises FY21 adjusted EPS view to $5.90-$6.50 from $5.10-$5.85 16:21 XPO Consensus $5.41. Sees FY21 adjusted EBITDA view $1.83B-$1.88B. Sees FY21 effective tax rate 24%-26%. Jacobs continued, "We now expect to grow our 2021 adjusted EBITDA by 31% to 35% year-over-year to a range of $1.825 billion to $1.875 billion, with strong contributions from both of our business segments." Van check this out per miler auto insurance! >>> Pretty clever. I am a weekend driver.... Metromile initiated with an Overweight at Cantor Fitzgerald 16:10 MILE Cantor Fitzgerald analyst Josh Siegler initiated coverage of Metromile with an Overweight rating and $13 price target. He sees a "compelling opportunity" at current share levels given his view that the company - which offers per-mile auto insurance directly to consumers in eight states - has a differentiated product and "strong top-line growth potential," Siegler tells investors.
Van you owe me for keeping you away from this one down 60%.... But now? Root assumed with an Overweight at Cantor Fitzgerald 16:05 ROOT Cantor Fitzgerald analyst Josh Siegler assumed coverage of Root with an Overweight rating with a price target of $21, down from $28. He believes the current stock price presents an attractive entry point given the roughly 60% decline in stock price since the IPO in October and given his view that Root can "achieve best-in-class growth while improving profitability," Siegler said. ROOT @ $10.60 MILE @$9.00
Take note that she also bought IONS. I like that company.> DXP Enterprises completes acquisition of Carter & Verplanck 15:32 DXPE DXP Enterprises announced that it has completed the acquisition of Carter & Verplanck, Inc., a distributor of products and services exclusively focused on serving the water and wastewater markets that focuses on serving the Florida, Tennessee, Georgia and Alabama markets. Financial terms of the transaction were not disclosed. The purchase price will be financed with cash from DXP's balance sheet and DXP Enterprises, Inc. common stock as consideration. Sales and adjusted EBITDA for CVI for the last twelve months ending December 31, 2020 were approximately $29.5M and $5.0M, respectively. David Little, DXP's CEO stated, "We are excited to announce the closing of Carter & Verplanck. Along with our recent acquisitions at year end, CVI will expand our water and wastewater offering and provide us with a platform and an opportunity to better serve these targeted market needs. Similar to DXP, Carter & Verplanck is focused on providing superior customer service and product expertise."