Day: October 29, 2024

Polar Power Announces Preliminary 2024 Third Quarter Financial Results: Expected Net Sales of $4.7 – $5.2 Million and Gross Margin of 26%-32%

Written by Customer Service on October 29, 2024. Posted in Public Companies.

GARDENA, CA, Oct. 29, 2024 (GLOBE NEWSWIRE) — Polar Power, Inc. (“Polar Power” or the “Company”) (NASDAQ: POLA), a global provider of prime, backup, and solar hybrid power solutions, today announces preliminary third quarter net sales between $4.7 million and $5.2 million, representing growth of 147% to 174%, gross margin in the range of 26% to 32%, and breakeven net earnings.Recovering net sales benefitting from strength across both diesel- and natural gas-powered product lines, with new customers accounting for 18% and 12% of total sales, respectively Substantial year-over-year improvement in gross margin attributable to higher revenues, lower labor costs and improved factory overhead absorption Substantial improvement in net income from operations attributed to a combination of higher sales, improved gross margins, reduced...

Magna Debuts Scalable, Eco-Friendly ICE to Hybrid Transmission for European OEM

Written by Customer Service on October 29, 2024. Posted in Public Companies.

First high-volume contract award for new product supports various vehicle models globally with ICE transmissions New modular Dual Clutch Transmission enables seamless hybrid transition on the same vehicle platform with minor changes Efficient and compact design with optimized torque-to-weight ratio results in lower CO² emissions, contributing to a cleaner futureAURORA, Ontario, Oct. 29, 2024 (GLOBE NEWSWIRE) — Magna is accelerating the industry’s move toward a cleaner future with the debut of its innovative Dual Clutch Transmission Eco (DCT Eco) solution for a European OEM. This contract marks the first high-volume award for the new transmission family and supports various models in global markets with ICE transmissions.A Media Snippet accompanying this announcement is available by clicking on this link. While the awarded...

Ollie’s Bargain Outlet Acquires Additional Former Big Lots Stores

Written by Customer Service on October 29, 2024. Posted in Mergers And Acquisitions.

HARRISBURG, Pa., Oct. 29, 2024 (GLOBE NEWSWIRE) — Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ: OLLI) (the “Company”) today announced that it was the winning bidder in the latest bankruptcy sale process to acquire eight additional former Big Lots store leases. The eight stores were part of a bankruptcy auction for the second wave of Big Lots store closures, which included 170 stores. The acquisition of the eight additional store leases are subject to final bankruptcy court approval and customary closing conditions. Including these eight additional Big Lots locations, the Company has acquired a total of 15 former Big Lots store leases to date. Eric van der Valk, President of Ollie’s stated, “We are, once again, very pleased to be the winning bidder on an additional eight store locations in another round of the Big Lots store closures....

Hubbell Reports Third Quarter 2024 Results

Written by Customer Service on October 29, 2024. Posted in Earnings Releases And Operating Results.

Shelton, CT, Oct. 29, 2024 (GLOBE NEWSWIRE) — HUBBELL REPORTS THIRD QUARTER 2024 RESULTS3Q diluted EPS of $4.05; adjusted diluted EPS of $4.49 (up 14% y/y) 3Q net sales +5% (organic -1%; net M&A +6%) 3Q operating margin 21.1%; adjusted operating margin 23.2% (+180 bps y/y) 2024 diluted EPS outlook of $14.20-$14.40 Raising 2024 adj. diluted EPS outlook to $16.35-$16.55SHELTON, CT. (October 29, 2024) – Hubbell Incorporated (NYSE: HUBB) today reported operating results for the third quarter ended September 30, 2024. “Hubbell delivered strong operating performance in the third quarter, generating solid operating margin expansion and double digit growth in operating income” said Gerben Bakker, Chairman, President and CEO. Mr. Bakker continued, “In our Utility Solutions segment, transmission, substation and grid protection...

DT Midstream Reports Strong Third Quarter 2024 Results; Raises Adjusted EBITDA Guidance

Written by Customer Service on October 29, 2024. Posted in Earnings Releases And Operating Results.

DETROIT, Oct. 29, 2024 (GLOBE NEWSWIRE) — DT Midstream, Inc. (NYSE: DTM) today announced third quarter 2024 reported net income of $88 million, or $0.90 per diluted share. For the third quarter of 2024, Operating Earnings were also $88 million, or $0.90 per diluted share. Adjusted EBITDA for the quarter was $241 million. Reconciliations of Operating Earnings and Adjusted EBITDA (non-GAAP measures) to reported net income are included at the end of this news release. The company also announced that the DT Midstream Board of Directors declared a $0.735 per share dividend on its common stock payable January 15, 2025 to stockholders of record at the close of business December 16, 2024. “We continue our strong performance in 2024,” said David Slater, President and CEO. “And we have made great progress advancing new opportunities which...

Kiniksa Pharmaceuticals Reports Third Quarter 2024 Financial Results and Recent Portfolio Execution

Written by Customer Service on October 29, 2024. Posted in Earnings Releases And Operating Results.

– ARCALYST® (rilonacept) Q3 2024 net product revenue of $112.2 million, representing 73% year-over-year growth –– ARCALYST 2024 expected net product revenue increased to $410 – $420 million –– Life DisRPted ™ disease awareness campaign for recurrent pericarditis launched in partnership with NHL Hall of Famer, Henrik Lundqvist, and GRAMMY® Award-winning singer-songwriter, Carly Pearce –– Kiniksa expects to remain cash flow positive on an annual basis –– Conference call and webcast scheduled for 8:30 am ET today – LONDON, Oct. 29, 2024 (GLOBE NEWSWIRE) — Kiniksa Pharmaceuticals International, plc (Nasdaq: KNSA) (Kiniksa), a commercial-stage biopharmaceutical company with a pipeline of immune-modulating assets designed to target a spectrum of cardiovascular and autoimmune diseases, today reported third quarter 2024 financial...

H&E Rentals Reports Third Quarter 2024 Results

Written by Customer Service on October 29, 2024. Posted in Earnings Releases And Operating Results.

BATON ROUGE, La., Oct. 29, 2024 (GLOBE NEWSWIRE) — H&E Equipment Services, Inc. (NASDAQ: HEES) (“H&E”, the “Company”, d/b/a “H&E Rentals”) today reported financial results for the third quarter ended September 30, 2024. The report includes the Company’s branch expansion achievements, with the addition of eight new locations in the third quarter, expanding the Company’s branch network to 157 locations across 32 states. THIRD QUARTER 2024 SUMMARY WITH A COMPARISON TO THIRD QUARTER 2023Revenues declined 4.0% to $384.9 million compared to $400.7 million. Net income was $31.1 million compared to $48.9 million. The effective income tax rate was 28.3% compared to 26.1%. Adjusted EBITDA totaled $175.3 million, a decrease of 8.4% compared to $191.4 million. Adjusted EBITDA margins were 45.6% of revenues...

CECO Environmental to Acquire Profire Energy for $125 Million

Written by Customer Service on October 29, 2024. Posted in Mergers And Acquisitions.

Advances CECO’s Position as the Leading Environmental Solutions Provider in Industrial MarketsExpands CECO’s leadership position in niche energy and industrial markets with expanded environmental solutions for mission critical applications Provides cost synergies and enhances Profire’s strategic growth by utilizing CECO’s established international operations and customer relationships CECO to host its Quarterly Earnings call today at 8:30 a.m. ET including further commentary regarding the transactionDALLAS, Texas and LINDON, Utah, Oct. 29, 2024 (GLOBE NEWSWIRE) — CECO Environmental Corp. (Nasdaq: CECO) (“CECO”), a leading environmentally focused, diversified industrial company whose solutions protect people, the environment and industrial equipment, and Profire Energy, Inc. (NASDAQ: PFIE) (“Profire”), a technology company providing...

Invivyd Reports Preliminary Third Quarter 2024 Results, Withdraws Prior Financial Guidance, and Targets Near-Term Profitability

Written by Customer Service on October 29, 2024. Posted in Public Companies.

Preliminary Q3 2024 PEMGARDA™ (pemivibart) net product revenue of $9.3 million; Invivyd ended Q3 2024 with approximately $107 million in cash and cash equivalents Expects to finish 2024 with $65 million or more in cash and cash equivalents Withdraws formal revenue guidance due to recent growth headwind from U.S. FDA’s late-Q3 2024 warning on potential for substantially reduced activity of pemivibart through the PEMGARDA Fact Sheet and other media based on contested, third-party, non-peer-reviewed, non-reproducible, virologic activity data from a non-pemivibart antibody Targets near-term (1H 2025) profitability with existing cash and cash equivalents, anticipated growth of net product revenue, and various operational efficiency improvements Further update to be provided on Q3 2024 earnings callWALTHAM, Mass., Oct. 29, 2024 (GLOBE...

Invivyd Phase 3 Long-Term Exploratory Clinical Efficacy Data Shows PEMGARDA™ (pemivibart) Provided Substantial Protection from Symptomatic COVID-19 Versus Placebo Over Six Months of Follow-Up, With No Additional Doses, In Immunocompetent Participants

Written by Customer Service on October 29, 2024. Posted in Public Companies.

Following strong protection (84% relative risk reduction versus placebo) demonstrated through month 6 with pemivibart, CANOPY clinical trial participants were followed for an additional six-month period (months 7-12), with no additional doses, to assess safety and efficacy as drug concentrations declined over time In the six-month off-drug follow-up period (months 7-12), substantially reduced concentrations of PEMGARDA reduced the risk of symptomatic COVID-19 by 64% compared to placebo in an immunocompetent adult population, for total twelve-month risk reduction of 76% following two initial pemivibart doses (nominal p

Day: October 29, 2024

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