Day: November 7, 2023

–   GAAP EARNINGS PER COMMON SHARE OF $0.25   ––   DISTRIBUTABLE EARNINGS PER COMMON SHARE OF $0.28   ––   DISTRIBUTABLE RETURN ON AVERAGE STOCKHOLDERS’ EQUITY OF 8.0%   – NEW YORK, Nov. 07, 2023 (GLOBE NEWSWIRE) — Ready Capital Corporation (“Ready Capital” or the “Company”) (NYSE: RC), a multi-strategy real estate finance company that originates, acquires, finances, and services small-to-medium balance commercial (“SBC”) loans, today reported financial results for the quarter ended September 30, 2023. “Our broad suite of origination channels allows Ready Capital to remain a consistent source of capital for our customers despite a challenging macro environment,” stated Thomas Capasse, Ready Capital’s Chairman and Chief Executive Officer. “We expect the short-term earnings pressure from the Broadmark...

HOUSTON, Nov. 07, 2023 (GLOBE NEWSWIRE) — Occidental (NYSE: OXY) today announced its third quarter 2023 financial results. The earnings release and accompanying financial schedules can be accessed via the Investor Relations section of the company’s website, oxy.com. The earnings release is also available on the U.S. Securities and Exchange Commission’s website at sec.gov. The company will hold a conference call to discuss the results on Wednesday, November 8, 2023, at 1 p.m. Eastern/12 p.m. Central. The conference call may be accessed by calling 1-866-871-6512 (international callers dial 1-412-317-5417) or via webcast at oxy.com/investors. Participants may pre-register for the conference call at https://dpregister.com/sreg/10182240/fa58f651a0. A recording of the webcast will be posted on the Investor Relations section of the company’s...

HOUSTON, Nov. 07, 2023 (GLOBE NEWSWIRE) — MRC Global Inc. (NYSE: MRC), the leading global distributor of pipe, valves, fittings and infrastructure products and services to diversified energy, industrial and gas utilities end-markets, today announced third quarter 2023 results. Net income attributable to common stockholders for the third quarter of 2023 was $29 million, or $0.33 per diluted share, as compared to the third quarter of 2022 net income attributable to common stockholders of $18 million, or $0.21 per diluted share. Adjusted net income attributable to common stockholders for the third quarter of 2023 was $28 million, or $0.32 per diluted share, as compared to the third quarter of 2022 adjusted net income attributable to common stockholders of $36 million, or $0.42 per diluted share. MRC Global’s third quarter 2023 gross...

– CX-904 (EGFRxCD3 T-cell engager) initial Phase 1 dose escalation data anticipated in the first half of 2024 – – CX-2051 (EpCAM-directed ADC) comprehensive preclinical profile presented at 14th Annual World ADC Conference; IND filing on track for year-end – – Updated CX-801 (conditionally activated interferon alpha-2b) preclinical data presented at SITC 2023; IND filing for CX-801 also on track for year-end – – Management to hold conference call today at 5 p.m. EDT / 2 p.m. PDT – SOUTH SAN FRANCISCO, Calif., Nov. 07, 2023 (GLOBE NEWSWIRE) — CytomX Therapeutics, Inc. (Nasdaq: CTMX), a leader in the field of conditionally activated, localized biologics, today reported third quarter 2023 financial results and provided a business update. “2023 has been a year of highly focused execution...

Third Quarter Pre-Tax Income of $20.1 millionThird Quarter Diluted Earnings per Share of $1.34Year-to-date Diluted EPS of $4.16 TAMPA, Fla., Nov. 07, 2023 (GLOBE NEWSWIRE) — HCI Group, Inc. (NYSE:HCI), a holding company with operations in homeowners insurance, information technology services, real estate, and reinsurance, reported pre-tax income of $20.1 million and net income of $15.7 million, or $1.34 diluted earnings per share, in the third quarter of 2023, compared with net loss of $51.5 million, or $5.66 loss per share, in the third quarter of 2022. Adjusted net income (a non-GAAP measure which excludes net unrealized gains or losses on equity securities) for the third quarter of 2023 was $16.5 million, or $1.41 diluted earnings per share compared with adjusted net loss of $51.2 million, or $5.62 loss per share, in the third...

AUDUBON, Pa., Nov. 07, 2023 (GLOBE NEWSWIRE) — Globus Medical, Inc. (NYSE: GMED), a leading musculoskeletal solutions company, today announced its financial results for the quarter ended September 30, 2023. The merger with NuVasive, Inc. was completed on September 1, 2023 and results presented within include NuVasive, Inc. results from that closing date.Worldwide net sales were $383.6 million, an increase of 51.0%. GAAP net income for the quarter was $1.0 million GAAP diluted earnings per share (“EPS”) was $0.01 and non-GAAP diluted EPS was $0.57 Non-GAAP adjusted EBITDA was $112.9 million, or 29.4% of net sales Stand-alone Globus Medical net sales were $281.2 million, an increase of 10.7%“The third quarter of 2023 was a defining moment for Globus Medical, as we completed our planned merger with NuVasive to create the most...

FARGO, N.D., Nov. 07, 2023 (GLOBE NEWSWIRE) — NI Holdings, Inc. (NASDAQ: NODK) announced today results for the quarter ended September 30, 2023. Summary of Third Quarter 2023 Results(All comparisons vs. the third quarter of 2022, unless noted otherwise)Direct written premiums of $81.2 million, flat to prior year, driven by increases in Non-Standard Auto (17.9%), Private Passenger Auto (10.4%) and Home and Farm (7.1%), offset by a decrease in Crop. Net earned premiums of $90.8 million, up 1.4%. Combined Ratio of 102.0% versus 114.4%, driven by lower weather-related losses in Home and Farm, lower loss frequency in Private Passenger Auto, and favorable crop growing conditions, offset by further reserve strengthening in Non-Standard Auto and Commercial to address elevated liability loss severity and the continued impact of higher...

THE WOODLANDS, Texas, Nov. 07, 2023 (GLOBE NEWSWIRE) — Gulf Island Fabrication, Inc. (NASDAQ: GIFI) (“Gulf Island” or the “Company”), a leading steel fabricator and service provider to the industrial and energy sectors, today announced results for the third quarter 2023. THIRD QUARTER 2023 SUMMARYResolves Shipyard Division’s MPSV Litigation Revenue of $5.0 million; Adjusted revenue of $37.7 million (excluding Shipyard Division negative revenue of $32.7 million) Consolidated net loss of $33.2 million; Adjusted EBITDA of $2.6 million (excluding a loss for the Shipyard Division of $35.1 million and a net gain from insurance recoveries of $0.3 million) Services Division operating income of $2.6 million; EBITDA of $3.1 million Fabrication Division operating income of $0.9 million; Adjusted EBITDA of $1.4 million (excluding a net...

Third Quarter 2023 HighlightsRevenue of $350.4 million(1) Net income to common shareholders of $10.1 million Adjusted EBITDA(2) of $57.4 million Basic and diluted net income per share of $0.07 Adjusted diluted net income per share(2) of $0.21 Executed contracts and awarded orders at September 30, 2023 totaling $1.6 billion(1) Revenue results exclude the impact of a ($20.1) million Brazil value-added tax benefit, Imposto sobre Circulação de Mercadorias e Servicos (“ICMS”), that has been reclassified and included in cost of revenues in the current year. This reclassification was determined to be appropriate after we evaluated the expected treatment of governmental incentives for the 45X manufacturing credits under the Inflation Reduction Act, but has no impact on profitability or cash flow. For the three quarters ended September 30,...

Q3 2023 Gross Profit Increased $8.3 million Year-Over-YearQ3 2023 Net Income of $(22.9) million or (17.2)% of Total RevenueQ3 2023 Adjusted EBITDA of $(7.0) million or (5.2)% of Total Revenue SAN FRANCISCO, Nov. 07, 2023 (GLOBE NEWSWIRE) — The RealReal (Nasdaq: REAL)—the world’s largest online marketplace for authenticated, resale luxury goods—today reported financial results for its third quarter ended September 30, 2023. In the third quarter of 2023, revenue and Adjusted EBITDA exceeded the high-end of our guidance range for the quarter and GMV exceeded the mid-point of our guidance. Third quarter 2023 gross merchandise value (GMV) and total revenue decreased 8% and 7% respectively, compared to the third quarter of 2022. During the quarter, consignment revenue grew 10% and direct revenue was 49% lower compared to the same period...