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Thursday, September 24, 2020

-=Accenture Plc (ACN) reported earnings on Thur 24 Sept 20 (b/o)


For the quarter ended Aug. 31, Accenture (ticker: ACN) posted revenue of $10.8 billion, down 2%, or 1% in constant currency, slightly below the analyst consensus at $10.9 billion. Profits excluding a one-time investment gain were $1.70 a share, below the $1.73 Wall Street expected. New bookings were $14 billion, which the company said were its second-highest ever.

Revenue from consulting services was $5.68 billion, down 8% in the quarter—including 3 percentage points due to a reduction in reimbursable travel, as the company’s consultants were forced to stay at home by the pandemic. Outsourcing revenues were up 6%.

The company said profits included 3 cents a share from higher nonoperating income and a penny a share from a lower share count, offset by a 3 cent decrease from lower revenue and operating results, and 5 cents a share from a higher effective tax rate.

Revenues were down 1% in North America, 5% in Europe and 1% in “growth markets.” By industry group, revenues were down 1% in communications, media and technology, down 1% in financial services, up 11% in health and public service, down 6% in products, and down 11% in resources.

Accenture also disclosed a 10% boost in its quarterly dividend rate to 88 cents a share. The stock now has a yield of 1.6%.

The company said it is expanding its stock-repurchase program by $5 billion, boosting the total to $6.3 billion. Accenture finished the August quarter with $8.4 billion in cash. The company spent $590 million to buy back 2.6 million shares in the latest quarter, bringing total repurchases for the year to $2.92 billion.

For the November quarter, the company is projecting revenue of $11.15 billion to $11.55 billion, which would range from flat to down 3% in constant currency. The Street consensus expectation had been for revenue of $11.52 billion.

For the August 2021 fiscal year, Accenture is projecting revenue growth of between 2% and 5%. The company sees full-year profits of $7.80 to $8.10 a share, which is slightly below the Street consensus forecast of $8.13 a share.

CEO Julie Sweet said in a statement that the company’s results show the value of Accenture’s growth stragy, the firm’s resilience and disciplined management, and the power of its relationships.

-=BlackBerry (BB) reported earnings on Thur 24 Sept 20 (b/o)


BlackBerry beats by $0.09, beats on revs

  • Reports Q2 (Aug) earnings of $0.11 per share, $0.09 better than the S&P Capital IQ Consensus of $0.02; revenues rose 6.1% year/year to $259 mln vs the $239.74 mln S&P Capital IQ Consensus.
  • Outlook - BlackBerry will provide fiscal year 2021 outlook in connection with the quarterly earnings announcement on its earnings conference call.
  • Tuesday, September 22, 2020

    Stitch Fix (SFIX) reported earnings Tue 22 Sept 20 (a/h)

    ** charts before earnings **


    ** charts after earnings ** 

    Stitch Fix misses by $0.27, beats on revs

  • Reports Q4 (Jul) loss of $0.44 per share, $0.27 worse than the S&P Capital IQ Consensus of ($0.17); revenues rose 2.6% year/year to $443.4 mln vs the $415.52 mln S&P Capital IQ Consensus.
  • Reports active clients of 3.5 million, an increase of 9% year over year.
  • Net revenue per active client of $486, an increase of 2% year over year on an adjusted basis.

  • The San Francisco-based company reported a fourth-quarter loss of $44.5 million, or 44 cents a share, vs. a profit of $7.2 million, or 7 cents a share, in the year-ago period. Adjusted Ebitda, excluding stock-based compensation, was $11.8 million. Revenue rose to $443 million from $432 million in the year-ago quarter. Analysts surveyed by FactSet had forecast a loss of 16 cents a share on revenue of $415.2 million.

    Stitch Fix grew its active clients 9% year-over-year to 3.5 million, and CEO Katrina Lake said in a statement that she was proud of her team for “successfully navigating through the deepest impacts of COVID-19” and expressed optimism about the future of online shopping.

    Stitch Fix shares have risen more than 19% so far this year, about on par with the Nasdaq Composite Index COMP, -2.73%, which is up about 20%.

    Aurora Cannabis (ACB) reported earnings Tue 22 Sept 20 (a/h)

     ** charts before earnings **


    ** charts after earnings **

    Reported Q4 results. Total net revs fell 5% from the prior quarter to CAD$72.1 mln; consumer cannabis net revs decreased 9% over the previous quarter, impacted by a 30% decrease in the average net selling price per gram of consumer cannabis. Medical cannabis net revs increased +4% from the prior quarter. Adj. EBITDA was a loss of CAD$(34.6) mln. Co noted that is has "slipped from its top position in Canadian consumer"; co plans to execute certain tactical initiatives in the category to return to its leadership position. Moves to its lowest levels since May.

    Monday, September 21, 2020