Rationalization

Superior Energy Services Announces Fourth Quarter 2023 Results and Conference Call

Retrieved on: 
Friday, March 8, 2024

HOUSTON, March 07, 2024 (GLOBE NEWSWIRE) -- Superior Energy Services, Inc. (the “Company”) reported its results for the fiscal quarter and full year ended December 31, 2023.

Key Points: 
  • HOUSTON, March 07, 2024 (GLOBE NEWSWIRE) -- Superior Energy Services, Inc. (the “Company”) reported its results for the fiscal quarter and full year ended December 31, 2023.
  • The Company’s Adjusted EBITDA (a non-GAAP measure defined on page 5) was $85.3 million for the fourth quarter of 2023 compared to $71.8 million in the third quarter of 2023.
  • U.S. offshore revenue was $96.3 million in the fourth quarter of 2023, an increase of 63% compared to revenue of $59.1 million in the third quarter of 2023.
  • Adjusted EBITDA for the fourth quarter of 2023 was $69.8 million, a 1% increase from the third quarter of 2023.

Sabert Serves Up Excitement with the new Catering Pop-Top Family

Retrieved on: 
Tuesday, March 5, 2024

SAYREVILLE, N.J., March 05, 2024 (GLOBE NEWSWIRE) -- Sabert Corporation, a leading global manufacturer of innovative and sustainable food packaging solutions, announces the launch of its new Catering Pop-Top family.

Key Points: 
  • SAYREVILLE, N.J., March 05, 2024 (GLOBE NEWSWIRE) -- Sabert Corporation, a leading global manufacturer of innovative and sustainable food packaging solutions, announces the launch of its new Catering Pop-Top family.
  • A game-changer for foodservice operators, this distinctive catering bowl line offers unmatched functionality and convenience for any catering occasion, from workplace meetings to large-scale events.
  • The Catering Pop-Top features a unique hinged lid that folds back, clicks into place and can be rotated 90 degrees to display one or both sides of the base.
  • Available in one or two-compartment bases, the Catering Pop-Top family is an exceptional solution for transporting and serving a variety of menu items and cuisines.

Pactiv Evergreen Reports Fourth Quarter 2023 Financial Results

Retrieved on: 
Thursday, February 29, 2024

LAKE FOREST, Ill., Feb. 29, 2024 (GLOBE NEWSWIRE) -- Pactiv Evergreen Inc. (“Pactiv Evergreen” or the “Company”) today reported results for the fourth quarter of 2023. Michael King, President and Chief Executive Officer of Pactiv Evergreen, said, “This was a pivotal year for Pactiv Evergreen. The Company’s commitment to operational excellence and profitable growth helped offset the headwinds we encountered throughout the year. Our teams demonstrated agility and discipline, allowing the Company to exceed its financial goals while also delivering for customers. The Company made significant progress on multiple fronts of its transformational journey in 2023, and I cannot thank our employees enough for their hard work. Looking ahead to 2024, the Company plans to initiate the next phase of its strategic transformation through a footprint optimization plan, which will include the rationalization of a portion of the Company’s production capacity. We expect these actions to generate significant annual cost savings and better align resources and capabilities with customers’ needs as the Company targets sustainable growth opportunities.”

Key Points: 
  • Fourth Quarter 2023 Financial Highlights:
    Total Net Revenues of $1,274 million for the fourth quarter of 2023 were down 14% compared to $1,476 million in the fourth quarter of 2022 and down 8% compared to $1,379 million in the third quarter of 2023.
  • Adjusted EPS1 of $0.33 for the fourth quarter of 2023 compared to $0.17 in the fourth quarter of 2022 and $0.32 in the third quarter of 2023.
  • LAKE FOREST, Ill., Feb. 29, 2024 (GLOBE NEWSWIRE) -- Pactiv Evergreen Inc. (“Pactiv Evergreen” or the “Company”) today reported results for the fourth quarter of 2023.
  • Fourth Quarter 2023 Results vs. Fourth Quarter 2022 Results
    Total net revenues in the fourth quarter of 2023 were $1,274 million compared to $1,476 million in the fourth quarter of 2022.

CooperCompanies Announces First Quarter 2024 Results

Retrieved on: 
Thursday, February 29, 2024

The Company's four-for-one stock split became effective after close of trading on February 16, 2024, and began trading on a stock split-adjusted basis on February 20, 2024.

Key Points: 
  • The Company's four-for-one stock split became effective after close of trading on February 16, 2024, and began trading on a stock split-adjusted basis on February 20, 2024.
  • To supplement our financial results and guidance presented on a GAAP basis, we use non-GAAP measures that we believe are helpful in understanding our results.
  • We believe it is useful for investors to understand the effects of these items on our consolidated operating results.
  • We exclude the effect of acquisition and integration expenses and restructuring expenses from our non-GAAP financial results.

CGS and Tradelink Technologies Partner to Deliver Industry’s First Real-time, End-to-End Factory RFID Solution

Retrieved on: 
Wednesday, February 28, 2024

The partnership provides for the industry’s first end-to-end factory RFID solution, from raw materials to shop floor control and shipping – including serialization and traceability that enables the delivery of the European Product Passport.

Key Points: 
  • The partnership provides for the industry’s first end-to-end factory RFID solution, from raw materials to shop floor control and shipping – including serialization and traceability that enables the delivery of the European Product Passport.
  • “With the BlueCherry Suite, factories can have confidence that the data they rely on to inform pivotal business decisions is unified and accurate.
  • “By combining BlueCherry Shop Floor Control with Tradelink's RFID solutions, we've created a win-win for everyone.
  • We are thrilled that this partnership will give factories complete visibility, inventory accuracy, and traceable data, providing customers with the best solution to deliver actionable insights into operations."

Shenandoah Telecommunications Company Reports Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Wednesday, February 21, 2024

EDINBURG, Va., Feb. 21, 2024 (GLOBE NEWSWIRE) -- Shenandoah Telecommunications Company (“Shentel”) (Nasdaq: SHEN) announced fourth quarter and full year 2023 financial and operating results.

Key Points: 
  • EDINBURG, Va., Feb. 21, 2024 (GLOBE NEWSWIRE) -- Shenandoah Telecommunications Company (“Shentel”) (Nasdaq: SHEN) announced fourth quarter and full year 2023 financial and operating results.
  • Consolidated net income in the fourth quarter of 2023 was $2.6 million, compared with net loss of $1.8 million in the fourth quarter of 2022.
  • Broadband operating expenses in the fourth quarter of 2023 were $57.1 million compared with $61.9 million in the fourth quarter of 2022.
  • Tower revenue for the fourth quarter of 2023 was consistent with revenue for fourth quarter of 2022.

Allient Reports 34% Operating Income Growth on Revenue of $578.6 Million in 2023

Retrieved on: 
Tuesday, March 5, 2024

Excluding the favorable impact of foreign currency exchange rate fluctuations on revenue of $1.6 million, organic growth was approximately 6%.

Key Points: 
  • Excluding the favorable impact of foreign currency exchange rate fluctuations on revenue of $1.6 million, organic growth was approximately 6%.
  • As a result, operating income was $7.0 million, or 5.0% of revenue, compared with $8.2 million, or 6.2% of revenue.
  • As a result, operating income increased 34% to $42.3 million, or 7.3% of sales, compared with $31.7 million, or 6.3% of sales.
  • Cash provided by operating activities improved to a record $45.0 million for the year compared with $5.6 million in 2022.

Utz Brands Reports Fourth Quarter and Full-Year 2023 Results

Retrieved on: 
Thursday, February 29, 2024

The Company estimates this SKU rationalization program impacted volumes in the fourth quarter of 2023 by approximately (2.5%).

Key Points: 
  • The Company estimates this SKU rationalization program impacted volumes in the fourth quarter of 2023 by approximately (2.5%).
  • Excluding the impact from SKU rationalization, the Company estimates that volume/mix would have increased 3.0% in the fourth quarter of 2023 versus the prior year period.
  • The Company’s Power Brands’ retail sales increased 5.3% versus the prior-year period(1) and was led by Utz®, On The Border®, Boulder Canyon®, and Golden Flake® Pork.
  • Circana does not include certain Partner Brands and Private Label sales that are not assigned to Utz Brands.

BRP Group, Inc. Announces Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Wednesday, February 28, 2024

BRP Group, Inc. (“BRP Group” or the “Company”) (NASDAQ: BRP), an independent insurance distribution firm delivering tailored insurance solutions to a wide range of personal and commercial Clients, today announced its results for the fourth quarter and full year ended December 31, 2023.

Key Points: 
  • BRP Group, Inc. (“BRP Group” or the “Company”) (NASDAQ: BRP), an independent insurance distribution firm delivering tailored insurance solutions to a wide range of personal and commercial Clients, today announced its results for the fourth quarter and full year ended December 31, 2023.
  • “Our team continues to develop and deliver innovative solutions for our Clients, and we made significant progress in the quarter in terms of our expense rationalization efforts.
  • Adjusted Net Income of $131.1 million, or $1.12 per fully diluted share
    BRP Group will host a webcast and conference call to discuss fourth quarter 2023 results today at 5:00 PM ET.
  • A live webcast and a slide presentation of the conference call will be available on BRP Group’s investor relations website at ir.baldwinriskpartners.com .

More than nine in 10 Canadian companies victimized by fraud fear AI-generated deepfakes will accelerate risks, KPMG in Canada survey finds

Retrieved on: 
Thursday, March 7, 2024

As fraudsters are becoming increasingly sophisticated in their attack methods, it's more and more challenging to deter criminals," he says."

Key Points: 
  • As fraudsters are becoming increasingly sophisticated in their attack methods, it's more and more challenging to deter criminals," he says."
  • Just over four in 10 companies victimized by fraud are currently experiencing internal fraud, while one third are currently experiencing external fraud, the survey data shows.
  • These tools are fast-becoming essentials in the fraud toolkit to prevent fraudsters from gaining the upper hand.
  • But if you don't perform regular fraud risk assessments to identify external and internal risks and vulnerabilities, you will always be at a disadvantage."