| Friday | ||||
Pre-earnings options… Pre-earnings options volume in Bit Digital is normal with calls leading puts 2:1. Implied volatility suggests the market is anticipating a move near 5.6%, or 9c, after results are released. Median move over the past eight quarters is 4.9%. | ||||
| Thursday | ||||
Daniel Solomita, Founder… Daniel Solomita, Founder and CEO of Loop Industries, commented on the recent updates, saying: "With the continuing progress made during the fourth quarter fiscal 2022 and first quarter of fiscal 2023, Loop is positioned better than ever to proceed with the commercialization of our breakthrough technology on a global scale with the support of our strategic partners. I would like to thank all of the Loop team for their commitment in successfully implementing our vision for the company. We are now focused on evaluating and implementing our financing plans to proceed with construction of our planned manufacturing facilities." | ||||
CVG announced on Thursday… CVG announced on Thursday that it has restarted operations at its Shanghai plant in China. In March, the company became one of thousands of manufacturers in the region that were forced to halt production as the result of restrictions aimed at stemming the spread of COVID-19. Production at the Shanghai plant resumed on May 20 at 50% capacity under a "closed-loop" system - where employees must receive a negative COVID test and then live on-site within the factory - to minimize the risk of spreading the virus within the city. CVG plans to continue ramping up production over the next few weeks in accordance with the local lifting of restrictions, led by Deputy Mayor of Shanghai Zong Ming, who has stated that the city hopes to fully open in June. The shutdown in March had immediate impact on CVG's OE seating customers in Asia and abroad, who were either facing similar manufacturing restrictions or unable to ship and receive products due to congestion in Shanghai's port, which is the largest port in the world. CVG responded quickly, moving to air shipping to limit supply chain disruptions for its customers. The company was recently able to reinstate ocean freight through both the Shanghai and Ningbo ports. CVG's local seat production in Asia includes the manufacturing of medium- and heavy-duty seating solutions for some of the region's largest vehicle manufacturers and represents an $80 million accretive business for the company. Globally, seat-part supply from Shanghai impacts $170 million worth of production for the company within the U.S., Mexico, UK, Thailand and Australia. In combination with the war in Ukraine which immediately impacted production at the company's facility in L'viv, CVG faced first-quarter interruptions that have continued into the second quarter. CVG is actively resolving these setbacks and expects second-half operations to be back to pre-war, pre-COVID status, barring any new unforeseen events. | ||||
The Company's… The Company's earnings per diluted Class A Nonvoting Common Share on a GAAP basis was adjusted to a range of $2.83 to $2.92 per share, and earnings per diluted Class A Nonvoting Common Share, Excluding Certain Items guidance was increased to a range of $3.08 to $3.17 per share, for the year ending July 31, 2022. This implies that we expect Diluted EPS Excluding Certain Items* to improve by 12% to 15% for the full year ending July 31, 2022 when compared to the adjusted fiscal 2021 diluted earnings per share of $2.75. Also included in our full-year fiscal 2022 guidance are a full-year income tax rate of approximately 21 percent and depreciation and amortization expense ranging from $34 million to $36 million. Capital expenditures, excluding facility purchases are expected to range from $20 million to $25 million during the year ending July 31, 2022. The Company's fiscal 2022 guidance is based on foreign currency exchange rates as of April 30, 2022 and assumes continued economic growth. | ||||
Prior to May 24, 2022,… Prior to May 24, 2022, the Company completed its previously authorized share repurchase program. On May 24, 2022, Brady's Board of Directors authorized an additional $100 million of Class A Common Stock for repurchase under the Company's share buyback program. The share buyback plan may be implemented from time to time in the open market or in privately negotiated transactions and has no expiration date. | ||||
Reports Q1 revenue… Reports Q1 revenue $338.55M, consensus $333.03M. "We generated strong revenue growth of 14.6 percent and record non-GAAP EPS of $0.86 this quarter. Our strong sales growth was primarily driven by our Identification Solutions division which had total sales growth of 21.1 percent this quarter. We've been working to enhance our product offering and the three acquisitions we completed last year are contributing to this, while also helping shift Brady into faster-growing end markets," said Brady's President and Chief Executive Officer, Russell R. Shaller. "In our Workplace Safety division, we took actions to reposition our product offering, to deemphasize certain under-performing businesses, and to streamline our cost structure. These actions have been very positive resulting in the increase in Workplace Safety segment profit this quarter. As a result of our ongoing efficiency activities and pricing actions, we experienced a sequential improvement in our gross profit margin of 140 basis points from 47.0 percent for the quarter ended January 31, 2022, to 48.4 percent for the quarter ended April 30, 2022. Overall, Brady is performing at a high level with strong sales growth, record EPS and a strong foundation, which we believe sets the stage for positive future results." |
| Wednesday | ||||
iCAD (ICAD) announced the… iCAD (ICAD) announced the Board of Directors has approved the appointment of Stephen Sarno as interim Chief Financial Officer, CFO, effective immediately. Sarno will assist with the transition as Charles Carter departs the Company this month. Sarno has previously held executive and senior leadership positions at companies including PC Connection (CNXN), Wyless, Exa Corporation, The Princeton Review, Sapient Corporation and was part of PricewaterhouseCoopers's technology practice for 10 years. | ||||
| Tuesday | ||||
RCI Hospitality Holdings… RCI Hospitality Holdings Board of Directors today authorized increasing the amount available under the company's share repurchase program by an additional $25.0M. From FY16, when the company started implementing its capital allocation strategy, to Q2, RCI has invested approximately $25.4M repurchasing approximately 1.6M shares at an average of $15.88 per share. | ||||
In a regulatory filing,… In a regulatory filing, Voxx disclosed that its director Beat Kahli bought 19.9K shares of common stock on May 23rd in a total transaction size of $148.7K. | ||||
Virtual Meeting to be… Virtual Meeting to be held on May 24 hosted by Barrington. | ||||
