Merchant

EQS-News: AUTO1 Group Achieves Profitability Ahead of Plan

Retrieved on: 
Tuesday, December 5, 2023

Berlin, November 8, 2023 – AUTO1 Group SE, Europe’s leading digital automotive platform for buying and selling used cars, today published its financial results for the third quarter of 2023.

Key Points: 
  • Berlin, November 8, 2023 – AUTO1 Group SE, Europe’s leading digital automotive platform for buying and selling used cars, today published its financial results for the third quarter of 2023.
  • The group announced positive adjusted EBITDA in Q3, reaching break-even one quarter earlier than planned and delivered record gross profit.
  • Markus Boser, CFO of AUTO1 Group: “Achieving positive adjusted EBITDA is a significant milestone in our development as a profitable growth business.
  • AUTO1 Group sold 140,630 units in total in Q3, generating revenue of EUR 1.3 billion.

Global Merchant API Market to Reach $90.97 Billion by 2023, Fueled by Rising Diabetes Incidence and Growing Outsourcing Trend - ResearchAndMarkets.com

Retrieved on: 
Thursday, November 9, 2023

The global merchant API market is on track to achieve a market value of US$90.97 billion by 2023, with a notable Compound Annual Growth Rate (CAGR) of 6.97% over the forecast period.

Key Points: 
  • The global merchant API market is on track to achieve a market value of US$90.97 billion by 2023, with a notable Compound Annual Growth Rate (CAGR) of 6.97% over the forecast period.
  • Pharmaceutical companies are increasingly outsourcing manufacturing to focus on core competencies like research and development (R&D) and marketing, contributing to the growth of the merchant API market.
  • The global merchant API market is segmented as follows:
    Molecular Type: This segment is divided into Small Molecules and Large Molecules.
  • Small molecules currently hold the largest market share due to the growing demand for small-molecule drugs and the outsourcing trend.

Lesaka continues strong growth trajectory and achieves upper end of revenue guidance

Retrieved on: 
Tuesday, November 7, 2023

Merchant Division revenue was $121.4 million in Q1 2024, up 21% compared to Q1 2023 in ZAR.

Key Points: 
  • Merchant Division revenue was $121.4 million in Q1 2024, up 21% compared to Q1 2023 in ZAR.
  • The increase in Segment Adjusted EBITDA is primarily due to higher sales activity, which was partially offset by lower hardware sales.
  • Connect records a significant proportion of its airtime sales in revenue and cost of sales, while only earning a relatively small margin.
  • Consumer Division revenue was $15.6 million in Q1 2024, 13% higher in ZAR compared to Q1 2023 and.

Lesaka Continues Strong Growth Trajectory and Achieves Upper End of Revenue Guidance

Retrieved on: 
Tuesday, November 7, 2023

Lesaka Technologies, Inc. (Nasdaq: LSAK; JSE: LSK) today released its results for the first quarter (“Q1 2024”) ended September 30, 2023.

Key Points: 
  • Lesaka Technologies, Inc. (Nasdaq: LSAK; JSE: LSK) today released its results for the first quarter (“Q1 2024”) ended September 30, 2023.
  • In South African Rand (“ZAR”) revenue grew 19%, driven by strong year-on-year growth in both the Merchant and Consumer Divisions.
  • The Net Loss continued to narrow, at $5.7 million (ZAR 105.6 million)1.
  • This compares to a net loss of $10.7 million (ZAR 183.2 million)1 in Q1 2023 and represents a 42% improvement in ZAR.

Merchants Fleet Survey Reveals Sustainability Will Heavily Influence 2023 Holiday Shopping Season

Retrieved on: 
Tuesday, November 7, 2023

Merchants Fleet has released findings from its second annual Consumer Holiday Shipping Survey.

Key Points: 
  • Merchants Fleet has released findings from its second annual Consumer Holiday Shipping Survey.
  • Merchants Fleet's 2023 Consumer Holiday Shipping Survey polled 1,000 adults throughout the U.S. on holiday shopping and delivery preferences related to sustainability and logistics.
  • This year's Consumer Holiday Shipping Survey reaffirms that EV adoption is not only good for the environment, but also for business," Keegan said.
  • Founded in 1962, Merchants' revolutionary fleet tech model combines cutting-edge fleet technology and industry-first flexibility, with short and long-term leasing all under one roof, including EVs.

Skyward Specialty Adds Seven in Strategic Move to Reach New Surety Markets

Retrieved on: 
Wednesday, November 1, 2023

HOUSTON, Nov. 01, 2023 (GLOBE NEWSWIRE) -- Skyward Specialty Insurance Group, Inc.TM (NASDAQ: SKWD) ("Skyward Specialty" or "the Company") a leader in the specialty property and casualty (P&C) market, announced additional expansion in its surety division, marked by the strategic recruitment of the industry’s top Surety talent.

Key Points: 
  • HOUSTON, Nov. 01, 2023 (GLOBE NEWSWIRE) -- Skyward Specialty Insurance Group, Inc.TM (NASDAQ: SKWD) ("Skyward Specialty" or "the Company") a leader in the specialty property and casualty (P&C) market, announced additional expansion in its surety division, marked by the strategic recruitment of the industry’s top Surety talent.
  • Skyward Specialty welcomed Scott Bailey as vice president of Field Operations for Contract Surety.
  • He began his career at Travelers Bond and Specialty Insurance and held expanded leadership roles at Merchants Bonding Company, Frankenmuth Surety and United Fire & Casualty.
  • "The exceptional team we're building and their dedication to providing superior service and solutions have made us a leading Surety."

Overseas Shipholding Group Reports Third Quarter 2023 Results

Retrieved on: 
Monday, November 6, 2023

Third quarter 2023 Adjusted EBITDA(A), a non-GAAP measure, was $48.1 million, an increase of $5.8 million, or 13.7%, from the third quarter of 2022.

Key Points: 
  • Third quarter 2023 Adjusted EBITDA(A), a non-GAAP measure, was $48.1 million, an increase of $5.8 million, or 13.7%, from the third quarter of 2022.
  • Shipping revenues for the third quarter of 2023 were $115.4 million, a decrease of $7.6, million, or 6.2%, from the third quarter of 2022.
  • Operating income for the third quarter of 2023 was $28.2 million compared to operating income of $22.4 million for the third quarter of 2022.
  • The Company will host a conference call to discuss its third quarter 2023 results at 9:30 a.m. Eastern Time (“ET”) on Monday, November 6, 2023.

ACI Worldwide, Inc. Reports Financial Results for the Quarter Ended September 30, 2023

Retrieved on: 
Thursday, November 2, 2023

ACI Worldwide (NASDAQ: ACIW), a global leader in mission-critical, real-time payments software , announced financial results today for the quarter ended September 30, 2023.

Key Points: 
  • ACI Worldwide (NASDAQ: ACIW), a global leader in mission-critical, real-time payments software , announced financial results today for the quarter ended September 30, 2023.
  • “We are pleased to report solid third quarter results,” said Thomas Warsop, President and CEO of ACI Worldwide.
  • ACI ended the quarter with $140 million in cash on hand and a debt balance of $1 billion, which represents a net debt leverage ratio of 2.4x, down from 2.9x last quarter.
  • The company did not repurchase any shares in the quarter and has $200 million available on the share repurchase authorization.

Hydrogen Generation Market size to grow by USD 47.84 billion from 2022 to 2027, Air Liquide SA, Air Products and Chemicals Inc., Claind Srl, Cummins Inc. and more among the key companies in the market - Technavio

Retrieved on: 
Wednesday, November 1, 2023

The global hydrogen generation market is fragmented with the presence of several global as well as regional vendors.

Key Points: 
  • The global hydrogen generation market is fragmented with the presence of several global as well as regional vendors.
  • Air Products and Chemicals Inc. - The company offers hydrogen generation solutions such as pipeline supply as well as delivered gas or liquid and onsite generation.
  • The market share growth of the merchant segment will be significant for the market growth during the forecast period.
  • The rise in disposable income and changes in lifestyle are the key factors driving the global potassium hydrogen sulfite market growth.

Farmers & Merchants Bancorp (FMCB) Reports Record Third Quarter and Year-to-Date Earnings

Retrieved on: 
Thursday, October 19, 2023

LODI, Calif., Oct. 19, 2023 (GLOBE NEWSWIRE) -- Farmers & Merchants Bancorp (OTCQX: FMCB) (the “Company” or “FMCB”), the parent company of Farmers & Merchants Bank of Central California (the “Bank” or “F&M Bank”), reported third quarter net income of $22.0 million, or $29.23 per diluted common share for the third quarter of 2023 compared with $19.5 million, or $25.20 per diluted common share for the third quarter of 2022 an increase of 12.8% or 16.0% on a per share basis. Annualized return on average assets was 1.65% and return on average equity was 16.80% for the third quarter of 2023 compared with 1.45% and 16.64% in the third quarter of 2022. The expense efficiency ratio for the third quarter was 42.89% compared with 46.86% in the third quarter of 2022.

Key Points: 
  • The expense efficiency ratio for the third quarter was 42.89% compared with 46.86% in the third quarter of 2022.
  • Loan yields increased to 5.87% in the third quarter of 2023 compared to 5.06% in the third quarter of 2022.
  • Net recoveries were $47,000 in the third quarter of 2023 compared to $38,000 in the third quarter of 2022.
  • During the third quarter, the Company repurchased 2,510 shares bringing the total to 16,324 shares for the nine-months ended September 30, 2023.