The Daily Update: 26 January

The latest updates from the JSE and NYSE in the past 24 hours.

South Africa

Truworths International Limited- Business update and voluntary trading statement for the 26-week period ended 1 January 2023

• Group retail sales increased by 13.7% to R11.3 billion compared to the prior comparable period.
• Office retail sales grew by 13.6% to GBP140m.
• Truworths Africa retail sales grew by 13.8% to R8.4bn.
• EPS is expected to be between 503 cents per share and 516 cents per share, representing an increase of between 11% and 14%.

OUTsurance Group Holdings- Trading statement for the six months ended 31 December 2022

• EPS is expected to decrease by more than 70% due to material, non-recurring items.

Anglo American PLC

• Anglo American announces that its newly launched LNG dual-fuelled Capesize+ vessel, the Ubuntu Harmony, has loaded its first cargo of iron ore from its Kumba operations in South Africa, cutting emissions by up to 35%.

The U.S.

Tesla Earnings

• EPS of $1.19 beating expectations of $1.12.
• Revenue of $24.3B beating expectations of $24.1B.
• Elon Musk said ""Thus far in January we have seen the strongest orders year to date ever in our history, we are currently seeing orders at almost twice the rate of production"
• "I was with the Tesla autopilot AI team until late last night, asking who do we think is close to Tesla for a general solution for self-driving and we still dont ever know really who would be a distant second"
• Tesla said it expects to produce around 1.8 million vehicles in 2023 below consensus estimates of 1.9M.

Chevron

• Chevron has declared a quarterly dividend of $1.51 per share up from $1.42.
• They have also announced a $75B share buyback program