The Daily Update: 9 February

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.