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The Daily Update: 9 February

April 16, 2024
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FinMeUp
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FinMeUp

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

 

South Africa

ArcelorMittal South Africa Limited- Group financial results for the year ended 31 December 2022

  • Revenue grew by 2.7% to R40 771 million.
  • EBITDA fell by 50.1% to R4 274 million.
  • Net profit fell by 60.2% to R2 634 million.
  • EPS fell by 60.2% to 236 cents per share.
  • International price corrections and soft local demand significantly impacted second half performance.

British American Tobacco PLC- Preliminary Results for the year ended 31 December 2022

  • Revenue grew by 7.7% to GBP27.655m.
  • The company is confident in reaching GBP5bn in revenue in 2025.
  • Profit from operations grew by 2.8% to GBP10.523m.
  • Diluted EPS fell by 1.3% to 291.9 pence per share.
  • Dividend per share grew by 6% to 230.9 pence per share.

Spur Corporation Limited- Sales Update and Trading Statement for the six month ended 31 December 2022

  • Total Group sales grew by 31.5%.
  • Spur sales grew by 33.6%.
  • Panarottis sales grew by 28.5%.
  • John Dorys sales grew by 19.2%.
  • RocoMamas sales grew by 14.6%.
  • EPS is expected to be between 135.45 and 139.96 cents per share, representing an increase of between 93.0% and 98.0%.

 

The U.S.

Disney Earnings

  • EPS of $0.99 beating expectations of $0.75.
  • Revenue of $23.5B beating expectations of $23.4B.
  • Disney has also announced that it will be firing 7000 employees and are seeking $5.5B in cost savings.
  • The CEO, Bob Iger has said that he will ask the board to reinstate Disney's dividend.
  • The company will not sell or spin off ESPN.
  • CEO Bob Iger just announced a new organizational structure of Disney entertainment, ESPN and Theme Parks.

Robinhood Earnings

  • EPS of -$0.19 missing expectations of -$0.11.
  • Revenue of $380M missing expectations of $397.1M.
  • Robinhood's board of directors has authorized the purchase of all 55M shares owned by Sam Bankman Fried's Emergent Fidelity Technologies.

Salesforce

  • Salesforce is creating a new AI tool called EinsteinGPT.

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