July 27, 2024, 3:04 a.m.
The Daily Update: 9 May
July 17, 2023
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FinMeUpThe latest updates from the JSE and NYSE over the past 24 hours.
 
South Africa
Karooooo Limited- Unaudited Fourth Quarter and Full Year 2023 Results
- 1 717 077 Cartrack subscribers, up 13% compared to FY 2022
- Net Cartrack subscriber additions of 191 105, down 13% compared to FY 2022
- Total revenue increased by 28% to ZAR3 507 million
- Subscription revenue increased by 17% to ZAR3 010 million
- Operating profit increased by 26% to ZAR882 million
- Earnings per share increased by 27% to ZAR19.29
- Karooooo is well-positioned for growth, with a strong balance sheet and healthy cash position, and expects marketing and sales investment to generate robust results in the future.
- A dividend of 85 U.S. cents per share will be paid to shareholders from retained earnings in July 2023
Sibanye Stillwater Limited
- The company has made significant progress in the fatal elimination strategy and the green metals strategy, while strategic diversification and growth have mitigated against a challenging macroeconomic and regional operating environment.
- Its SA gold operations have returned to profitability, while the SA PGM operations were impacted by pullback in PGM prices and localized operational challenges.
- Recycling throughput was down due to low vehicle scrapping, with improving outlook as new auto sales show signs of recovery.
- Group liquidity was enhanced through successful refinancing and an increase of the USD revolving credit facility to USD 1 billion.
- Adjusted EBITDA of R27.9 billion ($1.8 billion), an increase of 67% YoY.
- Sibanye's net debt reduced to R1.6 billion ($100 million), and liquidity improved.
- Platinum Group Metals (PGM) production increased by 11% YoY.
- Gold production was up 3% YoY.
- The Group produced 3.3 million ounces of PGM and 1.2 million ounces of gold during the quarter.
- Sibanye continued to advance its green metals strategy during Q1 2023 with the construction of the Keliber lithium refinery commencing in March 2023.
- The acquisition of Sandouville is another key component of Sibanye's strategic growth in Europe.
- Sibanye is progressing studies to unlock the potential of Sandouville as the base to establish European autocatalyst recycling operations.
- Sibanye reinforced its position in tailings waste retreatment through a successful takeover bid for New Century Resources Limited in March 2023.
 
The U.S.
PayPal Earnings
- EPS of $1.17 beating expectations of $1.10.
- Revenue of $7.04B beating expectations of $6.98B.
Palantir earnings
- EPS of $0.05 beating expectations of $0.04.
- Revenue of $525M beating expectations of $505.94M.
- Palantir now anticipates that they will remain profitable each quarter through the end of the year.