Day: May 8, 2024

First Quarter Financial Highlights:Total revenues increased $20.9 million year over year to $441.6 million Construction and Material Handling revenues of $255.6 million and $174.3 million, respectively Product support revenues increased 6.5% year over year with Parts sales increasing to $72.9 million and Service revenues increasing to $64.0 million New and used equipment sales grew 4.1% year over year to $228.6 million Net loss available to common stockholders of $(12.7) million Basic and diluted net loss per share of $(0.38) Adjusted basic and diluted net loss per share* of $(0.22) Adjusted EBITDA* of $34.1 millionLIVONIA, Mich., May 08, 2024 (GLOBE NEWSWIRE) — Alta Equipment Group Inc. (NYSE: ALTG) (“Alta”, “we”, “our” or the “Company”), a leading provider of premium material handling, construction...

Allentown, PA, May 08, 2024 (GLOBE NEWSWIRE) — CrossAmerica Partners LP Reports First Quarter 2024 ResultsReported First Quarter 2024 Net Loss of $17.5 million that includes a $15.9 million loss on lease terminations with Applegreen, Adjusted EBITDA of $23.6 million and Distributable Cash Flow of $11.7 million compared to a Net Loss of $1.0 million, Adjusted EBITDA of $31.7 million and Distributable Cash Flow of $19.1 million for the First Quarter 2023 Reported First Quarter 2024 Gross Profit for the Wholesale Segment of $27.0 million compared to $31.2 million of Gross Profit for the First Quarter 2023 and First Quarter 2024 Gross Profit for the Retail Segment of $54.4 million compared to $50.8 million of Gross Profit for the First Quarter 2023 Leverage, as defined in the CAPL Credit Facility, was 4.49 times as of March 31,...

Higher Occupancy Propels Strong Quarterly Financial PerformanceCapital Strategy Highlights Include Significant Share Buyback and Debt Refinancing in Quarter BRENTWOOD, Tenn., May 08, 2024 (GLOBE NEWSWIRE) — CoreCivic, Inc. (NYSE: CXW) (the Company) announced today its financial results for the first quarter of 2024. Damon T. Hininger, CoreCivic’s President and Chief Executive Officer, commented, “CoreCivic experienced a strong first quarter of 2024. Propelled by 75.2% occupancy – our highest level since the first quarter of 2020 – CoreCivic generated sturdy margins and year-over-year growth in our key metrics. Revenue increased 9% versus the first quarter of 2023, with Federal, State, and Local revenues all increasing, and our cost-management initiatives also contributed to our favorable results.” Commenting on capital market activities...

Dallas, Texas, May 08, 2024 (GLOBE NEWSWIRE) — Kronos Worldwide, Inc. (NYSE:KRO) today reported net income of $8.1 million, or $.07 per share, in the first quarter of 2024 compared to a net loss of $15.2 million, or $.13 per share, in the first quarter of 2023. Net income increased in the first quarter of 2024 as compared to the first quarter of 2023 primarily due to higher income from operations as a result of the net effect of higher sales and production volumes, lower average TiO2 selling prices and lower production costs (primarily energy and raw material costs). Comparability of our results was also impacted by the effects of changes in currency exchange rates. Net sales of $478.8 million in the first quarter of 2024 were $52.5 million, or 12%, higher than in the first quarter of 2023. Net sales increased in the first quarter...

Transformation Pillars Continue to Drive Revenue Growth and Profitability ImprovementAchieved 37% Gross Margin, Significant Expansion of 1,275 Basis Points Year-Over-YearReaffirms Full Year 2024 Financial Outlook LOS ANGELES, May 08, 2024 (GLOBE NEWSWIRE) — The Honest Company (NASDAQ: HNST), a personal care company dedicated to creating clean- and sustainably-designed products, today reported financial results for the three months ended March 31, 2024. “Our first quarter results demonstrate our strong start to 2024. Our clear focus on profitability, delivering sales growth and achieving record gross margin of 37% as a public company is attributable to continued execution of our Transformation Pillars of Brand Maximization, Margin Enhancement and Operating Discipline,” said Chief Executive Officer, Carla Vernón. “These Pillars are...

Company delivers 99% year-over-year revenue growth and record quarterly deliveries for new plant Reaffirms revenue, Adjusted EBITDA, and delivery outlook for 2024 CHICAGO, May 08, 2024 (GLOBE NEWSWIRE) — FreightCar America, Inc. (NASDAQ: RAIL) (“FreightCar America” or the “Company”), a diversified manufacturer of railroad freight cars, today reported results for the first quarter ended March 31, 2024. First Quarter 2024 HighlightsRevenues of $161.1 million on 1,223 railcar deliveries, an increase of 99% compared to revenues of $81.0 million on 738 railcar deliveries in the first quarter of 2023 Gross margin of 7.1% with gross profit of $11.4 million, compared to gross margin of 9.2% with gross profit of $7.5 million in the first quarter of 2023 Net loss of ($11.6) million, or ($0.54) per share and Adjusted net income of $4.9...

First Quarter Pre-Tax Income of $77.4 millionFirst Quarter Diluted EPS of $3.81First Quarter Gross Loss Ratio of 31.1% TAMPA, Fla., May 08, 2024 (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 $77.4 million and net income of $57.0 million, or $3.81 diluted earnings per share, in the first quarter of 2024, compared with net income of $17.8 million, or $1.54 diluted earnings per share, in the first quarter of 2023. Adjusted net income (a non-GAAP measure which excludes net unrealized gains or losses on equity securities) for the first quarter of 2024 was $55.0 million, or $3.65 diluted earnings per share compared with adjusted net income of $17.4 million, or $1.50 diluted earnings per...

Strong Premium Growth of 16.5%, Leading to Net income of $27.0 million GRAND CAYMAN, Cayman Islands, May 08, 2024 (GLOBE NEWSWIRE) — Greenlight Capital Re, Ltd. (NASDAQ: GLRE) (“Greenlight Re” or the “Company”) today reported its financial results for the first quarter ended March 31, 2024. First Quarter 2024 Highlights (all comparisons are to first quarter 2023 unless noted otherwise):Gross premiums written increased 16.5% to $217.3 million; Net premiums earned increased 13.2% to $161.5 million; Underwriting income of $3.4 million, compared to $0.4 million; Net income of $27.0 million, or $0.78 per diluted ordinary share, compared to $5.9 million, or $0.17 per diluted ordinary share; Combined ratio of 98.0%, compared to 99.8%; Total investment income of $26.4 million, compared to $5.2 million; and Fully diluted book value per...

SANTA CLARA, Calif., May 08, 2024 (GLOBE NEWSWIRE) — SiTime Corporation, (Nasdaq: SITM), the Precision Timing company, today announced financial results for the first quarter ended March 31, 2024. Net revenue in the first quarter of 2024 was $33.0 million, a 22% decrease from $42.4 million in the prior quarter. “SiTime is a leading provider of precision timing chips in electronics markets such as datacenter, AI and industrial,” said Rajesh Vashist, CEO and chairman of SiTime. “Our investments to expand our product portfolio, including our latest Chorus clock generators, have positioned us well for sustained growth in Q2 and beyond.” In the first quarter of 2024, GAAP gross margins were $17.7 million, or 53.5% of revenue, GAAP operating expenses were $52.7 million, GAAP loss from operations was $35.0 million, and GAAP net loss was...