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Globe and Mail
a day ago
- Business
- Globe and Mail
Sobeys parent Empire beats profit growth estimates, raises dividend
Grocery retailer Empire Co. Ltd. EMP-A-T beat analysts' estimates for profit growth in the fourth quarter, reporting that its store chains such as FreshCo and Sobeys took market share from competitors. The Stellarton, N.S.-based company reported on Thursday that sales grew in both the company's FreshCo discount stores, as well as its full-service grocery stores such as Sobeys, Safeway and IGA. Same-store sales – an important industry metric that tracks sales growth not tied to new store openings – were up 3 per cent in the quarter ended May 3, compared to the same period last year. Empire reported net earnings grew to $173-million or 74 cents per share in the fourth quarter, compared to $149-million or 61 cents per share the prior year. That exceeded analysts' expectations of $164.5-million or 71 cents per share, according to the consensus estimate from S&P Capital IQ The company also announced a 10-per-cent increase in its quarterly dividend paid to shareholders. Fourth-quarter sales grew to $7.6-billion, up 3 per cent compared to the prior year, driven by strong performance at grocery stores, partly offset by lower sales at the company's gas stations as fuel prices fell. The expansion of the Farm Boy and FreshCo store chains contributed to profit growth, as did initiatives aimed at reducing 'shrink,' an industry term for products that are lost before they can be sold – such as through theft or spoilage. This time last year, Empire made the decision to pull back on the pace of expansion of its Voilà e-commerce service, saying the market for online groceries in Canada was smaller than expected. After ending its exclusive partnership with technology provider Ocado Group PLC earlier than planned, Empire launched partnerships with third-party delivery companies Instacart and Uber Eats, which have contributed to growth. Online sales rose by 80.2 per cent in the quarter. The company continues to cut costs in its online service as it seeks to reach profitability. Construction of a fourth e-commerce distribution centre, underway in Vancouver, remains on hold, and will resume 'once e-commerce penetration rates in Canada increase,' according to a press release issued on Thursday.
Yahoo
3 days ago
- Business
- Yahoo
Research Growth, AI Licensing, and Cost Reduction Drive Wiley's Fiscal 2025 Results
Exceeds Adjusted EPS Guidance, Significantly Expands Profit Margins, and Reaffirms Fiscal 2026 Growth Targets HOBOKEN, N.J., June 17, 2025--(BUSINESS WIRE)--Wiley (NYSE: WLY) today reported results for the fourth quarter and fiscal year ended April 30, 2025. FISCAL 2025 HIGHLIGHTS GAAP performance vs. prior year: Operating Income of $221 million vs. $52 million and Diluted Earnings Per Share (EPS) of $1.53 vs. ($3.65) Exceeded Adjusted EPS guidance, delivered at top end of range for Adjusted EBITDA margin, and achieved Free Cash Flow outlook Delivered Revenue and Adjusted EBITDA margin growth in both Research and Learning segments Achieved Adjusted Operating Margin expansion of 300 basis points Executed AI content licensing project this quarter with a third large tech company; $40 million in total AI licensing revenue realized in Fiscal 2025 compared to $23 million in Fiscal 2024 Drove a 34% increase in share repurchases and raised dividend for 31st consecutive year MANAGEMENT COMMENTARY "We delivered another strong year of execution as we met or exceeded our financial commitments, drove profitable growth in our core, expanded margins and free cash flow, and extended further into the corporate market through AI licensing and partnership, science analytics, and knowledge services," said Matthew Kissner, President and CEO. "Our multi-year journey of continuous improvement and innovation is yielding material gains in profitable revenue growth, margin expansion, and cash generation, and we remain steadfast and confident in our continued progress." FINANCIAL SUMMARY Please see accompanying financial tables for more detail. Q4 reported revenue of $443 million vs. $468 million due to foregone revenue from divestitures; Adjusted Revenue (excluding divestitures) essentially even with prior year at constant currency as expected; Research Publishing +4% constant currency. Q4 Operating Income of $76 million vs. $69 million; Adjusted Operating Income +15% with margin up 260bps. Diluted EPS of $1.25 vs. $0.46; Adjusted EPS +14% and Adjusted EBITDA essentially even. Full year reported revenue of $1,678 million vs. $1,873 million due to foregone revenue from divested businesses; Adjusted Revenue (excluding divestitures) +3% at constant currency. Full year Operating Income of $221 million vs. $52 million; Adjusted Operating Income +29% with margin up 300 basis points. Diluted EPS of $1.53 vs. ($3.65); Adjusted EPS +31% to $3.64, Adjusted EBITDA +8% to $398 million, and Cash from Operations of $203 million vs. $208 million; Free Cash Flow +10% to $126 million. RESEARCH Q4 Research revenue of $281 million was up 4% as reported and 3% at constant currency driven by solid growth in recurring revenue publishing models (calendar year 2025 journal renewals) and open access offsetting continued softness in backfiles, archives, and other ancillary products. Q4 Adjusted EBITDA of $97 million was up 4% as reported and at constant currency due to revenue growth. Adjusted EBITDA margin for the quarter rose modestly to 34.7%. Full year Research revenue was up 3% as reported and at constant currency driven by growth in publishing and solutions. Research Adjusted EBITDA was up 4% or 5% at constant currency with margin up 30 basis points to 32.1%. Key performance indicators remained strong for the year, with submissions up 19% and output up 8%. LEARNING Q4 Learning revenue of $162 million was down 5% as reported and at constant currency as expected due to a $23 million AI licensing agreement in the prior year, partially offset by growth in Academic and additional AI licensing revenue this quarter. Academic growth excluding AI licensing was driven by strong demand for inclusive access and digital courseware. Professional performance excluding AI licensing was impacted by retail channel softness. Q4 Adjusted EBITDA of $70 million for the quarter was down 6% as reported and at constant currency due to lower revenues. Adjusted EBITDA margin was 43.0% compared to 43.5% in prior year period. Full year Learning revenue of $585 million was up 2% as reported and at constant currency driven by growth in Academic and AI licensing. Learning Adjusted EBITDA of $219 million for the year was up 9% as reported and at constant currency. Adjusted EBITDA margin rose 250 basis points to 37.4%. CORPORATE EXPENSES "Corporate Expenses" are the portion of shared services costs not allocated to segments. Q4 Corporate Expenses declined by 8% or 7% at constant currency due to lower depreciation and amortization, or 3% on an Adjusted EBITDA basis at constant currency due to restructuring savings. Full year Corporate Expenses declined by 3% as reported and at constant currency due to lower depreciation and amortization, but rose 2% on an Adjusted EBITDA basis at constant currency due to enterprise modernization. BALANCE SHEET, CASH FLOW, AND CAPITAL ALLOCATION Net Debt-to-EBITDA Ratio was 1.8 compared to 1.7 in the year-ago period. Net Cash provided by Operating Activities was $203 million compared to $208 million primarily due to spend on cloud-based solutions related to targeted enterprise modernization work. This spend is capitalized and amortized, like capex, but reported in this section of the cash flow statement. Otherwise, cash flow benefited from higher adjusted EBITDA and favorable working capital movements. Free Cash Flow was up 10% to $126 million primarily driven by lower capex. Fiscal 2025 capex was $77 million vs. $93 million in prior year, however, capitalization between the two years were comparable when capex and cloud-based solution spend are combined. Returns to Shareholders: Wiley allocated $137 million toward dividends and share repurchases, up from $122 million in the prior year. $60 million was allocated to share repurchases at an average cost basis of $44.16. This allocation is up from $45 million in the prior year period. Divestiture Proceeds: After the year closed, Wiley received $120 million in cash proceeds related to the University Services divestiture, with the total outstanding note paid in full. FISCAL 2026 OUTLOOK Metric Fiscal 2024 Results Fiscal 2025 Results Fiscal 2026 Outlook Adj. Revenue $1,617M $1,660M Low to mid-single digit growth Adj. EBITDA Margin 22.8% 24% 25.5% to 26.5% Adj. EPS $2.78 $3.64 $3.90 to $4.35 Free Cash Flow $114M $126M Approximately $200M Note, growth outlook is comprehensive and includes adverse variances, including AI revenue in Fiscal 2025. Adjusted metrics exclude impact of divestitures, which were primarily completed in Fiscal 2024 with remainder completed in first half of Fiscal 2025. Approximately $17 million of divestiture-related revenue was recorded in Fiscal 2025. Adjusted Revenue – growth expectation driven by demand to publish and Calendar Year 2025 journal renewal growth in Research Publishing, steady market trends in Academic, and continued demand for our content and data in AI development, partially offset by large AI agreements in prior year. Adjusted EBITDA Margin – initial margin target was a range of 24 to 25% (January 2024). Wiley raised the target to 25%+ in March 2025, and this quarter to a range of 25.5% to 26.5%. Outlook is driven by anticipated cost savings, efficiency gains, and revenue growth. Adjusted EPS – growth expectation driven by higher expected Adjusted Operating Income. Free Cash Flow – growth outlook driven by expected Adjusted EBITDA growth, lower restructuring payments, and favorable working capital. EARNINGS CONFERENCE CALL Scheduled for today, June 17 at 10:00 am (ET). Access webcast at Investor Relations at or directly at U.S. callers, please dial (888) 210-3346 and enter the participant code 2521217#. International callers, please dial (646) 960-0253 and enter the participant code 2521217#. ABOUT WILEY Wiley (NYSE: WLY) is one of the world's largest publishers and a trusted leader in research and learning. Our industry-leading content, services, platforms, and knowledge networks are tailored to meet the evolving needs of our customers and partners, including researchers, students, instructors, professionals, institutions, and corporations. We enable knowledge-seekers to transform today's biggest obstacles into tomorrow's brightest opportunities. For more than two centuries, Wiley has been delivering on its timeless mission to unlock human potential. Visit us at and NON-GAAP FINANCIAL MEASURES Wiley provides non-GAAP financial measures and performance results such as "Adjusted EPS," "Adjusted Operating Income," "Adjusted EBITDA," "Adjusted Income before Taxes," "Adjusted Income Tax Provision," "Adjusted Effective Income Tax Rate," "Free Cash Flow less Product Development Spending," "organic revenue," "Adjusted Revenue," and results on a Constant Currency basis to assess underlying business performance and trends. Management believes non-GAAP financial measures, which exclude the impact of restructuring charges and credits and certain other items, and the impact of divestitures and acquisitions provide a useful comparable basis to analyze operating results and earnings. See the reconciliations of non-GAAP financial measures and explanations of the uses of non-GAAP measures in the supplementary information. We have not provided our 2026 outlook for the most directly comparable U.S. GAAP financial measures, as they are not available without unreasonable effort due to the high variability, complexity, and low visibility with respect to certain items, including restructuring charges and credits, gains and losses on foreign currency, and other gains and losses. These items are uncertain, depend on various factors, and could be material to our consolidated results computed in accordance with U.S. GAAP. FORWARD-LOOKING STATEMENTS This release contains certain forward-looking statements concerning the Company's operations, performance, and financial condition. Reliance should not be placed on forward-looking statements, as actual results may differ materially from those in any forward-looking statements. Any such forward-looking statements are based upon a number of assumptions and estimates that are inherently subject to uncertainties and contingencies, many of which are beyond the control of the Company and are subject to change based on many important factors. Such factors include, but are not limited to: (i) the level of investment in new technologies and products; (ii) subscriber renewal rates for the Company's journals; (iii) the financial stability and liquidity of journal subscription agents; (iv) the consolidation of book wholesalers and retail accounts; (v) the market position and financial stability of key online retailers; (vi) the seasonal nature of the Company's educational business and the impact of the used book market; (vii) worldwide economic and political conditions; (viii) the Company's ability to protect its copyrights and other intellectual property worldwide (ix) the ability of the Company to successfully integrate acquired operations and realize expected opportunities; (x) the ability to realize operating savings over time and in fiscal year 2026 in connection with our multiyear Global Restructuring Program and completed dispositions; (xi) cyber risk and the failure to maintain the integrity of our operational or security systems or infrastructure, or those of third parties with which we do business; (xii) as a result of acquisitions, we have and may record a significant amount of goodwill and other identifiable intangible assets and we may never realize the full carrying value of these assets; and (xiii) other factors detailed from time to time in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise forward-looking statements to reflect subsequent events. CATEGORY: EARNINGS RELEASES JOHN WILEY & SONS, INFORMATION (1)(2)CONDENSED CONSOLIDATED STATEMENTS OF NET INCOME (LOSS)(Dollars in thousands, except per share information)(unaudited) Three Months EndedApril 30, Year EndedApril 30, 2025 2024 2025 2024 Revenue, net $ 442,579 $ 468,461 $ 1,677,609 $ 1,872,987 Costs and expenses: Cost of sales 110,941 123,345 431,380 579,722 Operating and administrative expenses 229,767 252,062 947,437 1,013,520 Impairment of goodwill(3) - - - 108,449 Restructuring and related charges 12,490 11,008 25,561 63,041 Amortization of intangible assets 12,909 13,264 51,822 55,994 Total costs and expenses 366,107 399,679 1,456,200 1,820,726 Operating income 76,472 68,782 221,409 52,261 As a % of revenue 17.3 % 14.7 % 13.2 % 2.8 % Interest expense (11,270 ) (11,411 ) (52,547 ) (49,003 ) Net foreign exchange transaction (losses) gains (826 ) 530 (8,142 ) (2,959 ) Net loss on sale of businesses, assets, and impairment charges related to assets held-for-sale(3) (13,580 ) (3,642 ) (23,340 ) (183,389 ) Other income (expense), net 1,469 (257 ) 5,498 (3,957 ) Income (loss) before taxes 52,265 54,002 142,878 (187,047 ) (Benefit) provision for income taxes (15,828 ) 28,737 58,717 13,272 Effective tax rate -30.3 % 53.2 % 41.1 % -7.1 % Net income (loss) $ 68,093 $ 25,265 $ 84,161 $ (200,319 ) As a % of revenue 15.4 % 5.4 % 5.0 % -10.7 % Earnings (loss) per share Basic $ 1.27 $ 0.46 $ 1.56 $ (3.65 ) Diluted(4) $ 1.25 $ 0.46 $ 1.53 $ (3.65 ) Weighted average number of common shares outstanding Basic 53,683 54,591 54,054 54,945 Diluted(4) 54,458 55,356 54,830 54,945 Notes: (1) The supplementary information included in this press release for the three months and year ended April 30, 2025 is preliminary and subject to change prior to the filing of our upcoming Annual Report on Form 10-K with the Securities and Exchange Commission. (2) All amounts are approximate due to rounding. (3) Net loss on sale of businesses, assets, and impairment charges related to assets held-for-saleFor the three months and year ended April 30, 2025 and 2024, we recorded net pretax (loss) gain on sale of businesses, assets, and impairment charges related to assets held-for-sale as follows: Three Months EndedApril 30, Year EndedApril 30, 2025 2024 2025 2024 Wiley Edge $ (74 ) $ 1,275 $ (14,852 ) $ (19,401 ) University Services (13,428 ) (5,636 ) (12,578 ) (107,048 ) CrossKnowledge (78 ) 719 4,119 (55,440 ) Tuition Manager - - 120 (1,500 ) Sale of assets - - (149 ) - Net loss on sale of businesses, assets, and impairment charges related to assets held-for-sale $ (13,580 ) $ (3,642 ) $ (23,340 ) $ (183,389 ) As previously announced in fiscal year 2024, we executed a plan to divest non-core businesses included in our Held for Sale or Sold segment, including University Services, Wiley Edge, and CrossKnowledge. These three businesses met the held-for-sale criteria starting in the first quarter of fiscal year 2024. We measured each disposal group at the lower of carrying value or fair value less costs to sell prior to its disposition. On January 1, 2024, we completed the sale of University Services. On June 5, 2025, Wiley entered into an agreement to sell the Seller Note, the fiscal year 2026 earnout, the TVG Investment, and agreed on the fiscal year 2025 earnout for total cash consideration of $119.5 million, which was fully paid in June 2025. In the year ended April 30, 2025, due to the process of selling these assets, as well as third-party customer consents, working capital adjustments, and changes in the costs to sell, we recognized an additional net loss on sale and impairments of assets of $12.6 million. In the three months ended April 30, 2025, we recognized an additional net loss of $13.4 million. On May 31, 2024, we completed the sale of Wiley Edge, with the exception of its India operations which sold on August 31, 2024. Upon the completion of the sale, we recognized a net loss of $14.9 million in the year ended April 30, 2025 primarily due to subsequent changes in the fair value less costs to sell including reducing the fair value of the contingent consideration in the form of an earnout from $15.0 million to zero in the third quarter of fiscal year 2025, partially offset by the sale of the India operations. On August 31, 2024, we completed the sale of CrossKnowledge. On May 31, 2023, we completed the sale of Tuition Manager. In the second quarter of fiscal year 2025, we sold a facility which was reflected in Technology, property, and equipment, net in our Unaudited Condensed Consolidated Statements of Financial Position. Impairment of goodwill In fiscal year 2024, we reorganized our segments and recorded pretax noncash goodwill impairments of $108.4 million which included $81.7 million related to Wiley Edge, $11.4 million related to University Services, and $15.3 million related to CrossKnowledge. (4) In calculating diluted net loss per common share for the year ended April 30, 2024, our diluted weighted average number of common shares outstanding excludes the effect of unvested restricted stock units and other stock awards as the effect was antidilutive. This occurs when a US GAAP net loss is reported and the effect of using dilutive shares is antidilutive. JOHN WILEY & SONS, INFORMATION (1) (2)RECONCILIATION OF US GAAP MEASURES to NON-GAAP MEASURES(unaudited) Reconciliation of US GAAP Earnings (Loss) per Share to Non-GAAP Adjusted EPS Three Months EndedApril 30, Year EndedApril 30, 2025 2024 2025 2024 US GAAP Earnings (Loss) Per Share - Diluted $ 1.25 $ 0.46 $ 1.53 $ (3.65 ) Adjustments: Impairment of goodwill - - - 1.90 Restructuring and related charges 0.14 0.16 0.36 0.85 Foreign exchange losses on intercompany transactions, including the write off of certain cumulative translation adjustments (3) (0.01 ) 0.01 0.08 0.02 Amortization of acquired intangible assets (4) 0.15 0.02 0.76 0.68 Net loss on sale of businesses, assets, and impairment charges related to assets held-for-sale (5) 0.18 0.04 0.38 2.81 Held for Sale or Sold segment Adjusted Net (Income) Loss (5) - (0.03 ) 0.05 (0.42 ) Income tax adjustments (0.34 ) 0.55 0.48 0.54 EPS impact of using weighted-average dilutive shares for adjusted EPS calculation (6) - - - 0.05 Non-GAAP Adjusted Earnings Per Share - Diluted $ 1.37 $ 1.21 $ 3.64 $ 2.78 Reconciliation of US GAAP Income (Loss) Before Taxes to Non-GAAP Adjusted Income Before Taxes (amounts in thousands) Three Months EndedApril 30, Year EndedApril 30, 2025 2024 2025 2024 US GAAP Income (Loss) Before Taxes $ 52,265 $ 54,002 $ 142,878 $ (187,047 ) Pretax Impact of Adjustments: Impairment of goodwill - - - 108,449 Restructuring and related charges 12,490 11,008 25,561 63,041 Foreign exchange losses on intercompany transactions, including the write off of certain cumulative translation adjustments (3) - 815 5,590 1,903 Amortization of acquired intangible assets (4) 12,908 13,324 51,864 57,874 Net loss on sale of businesses, assets, and impairment charges related to assets held-for-sale (5) 13,580 3,642 23,340 183,389 Held for Sale or Sold segment Adjusted (Income) Loss Before Taxes (5) - (2,409 ) 3,578 (30,661 ) Non-GAAP Adjusted Income Before Taxes $ 91,243 $ 80,382 $ 252,811 $ 196,948 Reconciliation of US GAAP Income Tax (Benefit) Provision to Non-GAAP Adjusted Income Tax Provision, including our US GAAP Effective Tax Rate and our Non-GAAP Adjusted Effective Tax Rate US GAAP Income Tax (Benefit) Provision $ (15,828 ) $ 28,737 $ 58,717 $ 13,272 Income Tax Impact of Adjustments (7) Impairment of goodwill - 255 - 2,953 Restructuring and related charges 4,633 2,425 5,947 15,662 Foreign exchange losses on intercompany transactions, including the write off of certain cumulative translation adjustments (3) 571 471 1,170 582 Amortization of acquired intangible assets (4) 4,720 11,459 10,231 20,127 Net loss on sale of businesses, assets, and impairment charges related to assets held-for-sale (5) 3,715 1,197 2,368 26,908 Held for Sale or Sold segment Adjusted Tax (Provision) Benefit (5) - (622 ) 807 (7,140 ) Income Tax Adjustments Impact of valuation allowance on the US GAAP effective tax rate (8) 18,776 (30,249 ) (26,008 ) (30,249 ) Impact of change in certain US state tax rates in 2025 (8) (117 ) - (117 ) - Non-GAAP Adjusted Income Tax Provision $ 16,470 $ 13,673 $ 53,115 $ 42,115 US GAAP Effective Tax Rate -30.3 % 53.2 % 41.1 % -7.1 % Non-GAAP Adjusted Effective Tax Rate 18.1 % 17.0 % 21.0 % 21.4 % Notes: (1) See Explanation of Usage of Non-GAAP Performance Measures included in this supplementary information for additional details on the reasons why management believes presentation of each non-GAAP performance measure provides useful information to investors. The supplementary information included in this press release for the three months and year ended April 30, 2025 is preliminary and subject to change prior to the filing of our upcoming Annual Report on Form 10-K with the Securities and Exchange Commission. (2) All amounts are approximate due to rounding. (3) In fiscal year 2023 due to the closure of our operations in Russia, the Russia entity was deemed substantially liquidated. The formal liquidation was completed in the fourth quarter of fiscal year 2025. In the three months and year ended April 30, 2025, we wrote off an additional $1.1 million and $1.4 million, respectively, of cumulative translation adjustments in earnings. In the three months and year ended April 30, 2024, we wrote off an additional $0.2 million and $1.0 million, respectively, of cumulative translation adjustments in earnings. These amounts are reflected in Net foreign exchange transaction (losses) gains on our Condensed Consolidated Statements of Net Income (Loss). (4) Reflects the amortization of intangible assets established on the opening balance sheet for an acquired business. This includes the amortization of intangible assets such as developed technology, customer relationships, tradenames, etc., which is reflected in the "Amortization of intangible assets" line in the Condensed Consolidated Statements of Net Income (Loss). It also includes the amortization of acquired product development assets, which is reflected in Cost of sales in the Condensed Consolidated Statements of Net Income (Loss). (5) For the three months and year ended April 30, 2025 and 2024, we recorded net pretax loss (gain) on sale of businesses, assets, and impairment charges related to assets held-for-sale as follows: Three Months EndedApril 30, Year EndedApril 30, 2025 2024 2025 2024 Wiley Edge $ 74 $ (1,275 ) $ 14,852 $ 19,401 University Services 13,428 5,636 12,578 107,048 CrossKnowledge 78 (719 ) (4,119 ) 55,440 Tuition Manager - - (120 ) 1,500 Sale of assets - - 149 - Net pretax loss on sale of businesses, assets, and impairment charges related to assets held-for-sale $ 13,580 $ 3,642 $ 23,340 $ 183,389 For the three months and year ended April 30, 2025 and 2024, we recorded income tax benefit (provision) on sale of businesses, assets, and impairment charges related to assets held-for-sale as follows: Three Months EndedApril 30, Year EndedApril 30, 2025 2024 2025 2024 Wiley Edge $ 263 $ 890 $ (1,054 ) $ 890 University Services 3,109 307 3,109 25,643 CrossKnowledge 344 - 344 - Tuition Manager - - (30 ) 374 Sale of assets - - - - Benefit on sale of businesses, assets, and impairment charges related to assets held-for-sale $ 3,715 $ 1,197 $ 2,368 $ 26,908 In addition, our Adjusted EPS excludes the Adjusted Net Income or Loss of our Held for Sale or Sold segment. (6) Represents the impact of using diluted weighted-average number of common shares outstanding (55.7 million for the year ended April 30, 2024) included in the Non-GAAP Adjusted EPS calculation in order to apply the dilutive impact on adjusted net income due to the effect of unvested restricted stock units and other stock awards. This impact occurs when a US GAAP net loss is reported and the effect of using dilutive shares is antidilutive. (7) For the three months and year ended April 30, 2025 and 2024, respectively, substantially all of the tax impact was from deferred taxes. (8) In fiscal year 2024, due to temporary differences in the US, our deferred taxes reversed from a net deferred tax liability position to a net deferred tax asset position. Due to losses in the US resulting from impairments, restructuring, and acceleration of amortization expense on capitalized software, we concluded it was more-likely-than-not that all or a portion of our deferred tax asset may not be realized. As a result, we established a valuation allowance of $30.2 million. During fiscal year 2025 we increased this valuation allowance by $26.0 million, because of an increase in the US net deferred tax asset attributable primarily to interest expense disallowance and intangible and fixed assets. In connection with the increase in certain US state tax apportionment factors and state rate changes in 2025, we recorded income tax expense of $0.1 million for the three months and year ended April 30, 2025. JOHN WILEY & SONS, INFORMATION (1)RECONCILIATION OF US GAAP NET INCOME (LOSS) TO NON-GAAP EBITDA AND ADJUSTED EBITDA(unaudited) Three Months Ended Year Ended April 30, April 30, 2025 2024 2025 2024 Net Income (Loss) $ 68,093 $ 25,265 $ 84,161 $ (200,319 ) Interest expense 11,270 11,411 52,547 49,003 (Benefit) provision for income taxes (15,828 ) 28,737 58,717 13,272 Depreciation and amortization 36,681 47,613 147,126 176,989 Non-GAAP EBITDA 100,216 113,026 342,551 38,945 Impairment of goodwill - - - 108,449 Restructuring and related charges 12,490 11,008 25,561 63,041 Net foreign exchange transaction losses (gains) 826 (530 ) 8,142 2,959 Net loss on sale of businesses, assets, and impairment charges related to assets held-for-sale 13,580 3,642 23,340 183,389 Other (income) expense, net (1,469 ) 257 (5,498 ) 3,957 Held for Sale or Sold segment Adjusted EBITDA (2) - (2,409 ) 3,578 (32,148 ) Non-GAAP Adjusted EBITDA $ 125,643 $ 124,994 $ 397,674 $ 368,592 Adjusted EBITDA Margin 28.4 % 28.3 % 24.0 % 22.8 % Notes: (1) See Explanation of Usage of Non-GAAP Performance Measures included in this supplementary information for additional details on the reasons why management believes presentation of each non-GAAP performance measure provides useful information to investors. The supplementary information included in this press release for the three months and year ended April 30, 2025 is preliminary and subject to change prior to the filing of our upcoming Annual Report on Form 10-K with the Securities and Exchange Commission. (2) Our Non-GAAP Adjusted EBITDA excludes the Held for Sale or Sold segment Non-GAAP Adjusted EBITDA. JOHN WILEY & SONS, INFORMATION (1) (2)SEGMENT RESULTS(in thousands)(unaudited) % Change Three Months EndedApril 30, Favorable(Unfavorable) 2025 2024 Reported Constant Currency Research: Revenue, net Research Publishing $ 243,061 $ 233,455 4 % 4 % Research Solutions 37,660 37,577 0 % 0 % Total Revenue, net $ 280,721 $ 271,032 4 % 3 % Non-GAAP Adjusted Operating Income $ 75,168 $ 68,282 10 % 10 % Depreciation and amortization 22,303 25,513 13 % 13 % Non-GAAP Adjusted EBITDA $ 97,471 $ 93,795 4 % 4 % Adjusted EBITDA margin 34.7 % 34.6 % Learning: Revenue, net Academic $ 100,146 $ 98,908 1 % 1 % Professional 61,712 71,237 -13 % -14 % Total Revenue, net $ 161,858 $ 170,145 -5 % -5 % Non-GAAP Adjusted Operating Income $ 58,715 $ 57,682 2 % 1 % Depreciation and amortization 10,948 16,358 33 % 33 % Non-GAAP Adjusted EBITDA $ 69,663 $ 74,040 -6 % -6 % Adjusted EBITDA margin 43.0 % 43.5 % Held for Sale or Sold: Total Revenue, net $ - $ 27,284 # # Non-GAAP Adjusted Operating Income $ - $ 2,409 # # Depreciation and amortization - - # # Non-GAAP Adjusted EBITDA $ - $ 2,409 # # Adjusted EBITDA margin 0.0 % 8.8 % Corporate Expenses: Non-GAAP Adjusted Corporate Expenses $ (44,921 ) $ (48,583 ) 8 % 7 % Depreciation and amortization 3,430 5,742 40 % 40 % Non-GAAP Adjusted EBITDA $ (41,491 ) $ (42,841 ) 3 % 3 % Consolidated Results: Revenue, net $ 442,579 $ 468,461 -6 % -6 % Less: Held for Sale or Sold Segment (3) - (27,284 ) # # Adjusted Revenue, net $ 442,579 $ 441,177 0 % 0 % Operating Income $ 76,472 $ 68,782 11 % 11 % Adjustments: Restructuring charges 12,490 11,008 -13 % -13 % Held for Sale or Sold Segment Adjusted Operating Income (3) - (2,409 ) # # Non-GAAP Adjusted Operating Income $ 88,962 $ 77,381 15 % 15 % Adjusted Operating Income margin 20.1 % 17.5 % Depreciation and amortization 36,681 47,613 23 % 23 % Less: Held for Sale or Sold Segment depreciation and amortization (3) - - # # Non-GAAP Adjusted EBITDA $ 125,643 $ 124,994 1 % 0 % Adjusted EBITDA margin 28.4 % 28.3 % Notes: (1) The supplementary information included in this press release for the three months and year ended April 30, 2025 is preliminary and subject to change prior to the filing of our upcoming Annual Report on Form 10-K with the Securities and Exchange Commission. (2) All amounts are approximate due to rounding. (3) Our Adjusted Revenue, Adjusted Operating Income and Adjusted EBITDA excludes the impact of our Held for Sale or Sold segment Revenue, Adjusted Operating Income or Loss and Adjusted EBITDA results. # Variance greater than 100% JOHN WILEY & SONS, INFORMATION (1) (2)SEGMENT RESULTS(in thousands)(unaudited) % Change Year EndedApril 30, Favorable(Unfavorable) 2025 2024 Reported Constant Currency Research: Revenue, net Research Publishing $ 922,553 $ 892,784 3 % 3 % Research Solutions 152,906 149,921 2 % 2 % Total Revenue, net $ 1,075,459 $ 1,042,705 3 % 3 % Non-GAAP Adjusted Operating Income $ 255,580 $ 237,763 7 % 8 % Depreciation and amortization 89,302 93,422 4 % 5 % Non-GAAP Adjusted EBITDA $ 344,882 $ 331,185 4 % 5 % Adjusted EBITDA margin 32.1 % 31.8 % Learning: Revenue, net Academic $ 333,693 $ 323,541 3 % 3 % Professional 251,075 251,198 0 % 0 % Total Revenue, net $ 584,768 $ 574,739 2 % 2 % Non-GAAP Adjusted Operating Income $ 174,850 $ 142,733 23 % 22 % Depreciation and amortization 43,900 57,696 24 % 24 % Non-GAAP Adjusted EBITDA $ 218,750 $ 200,429 9 % 9 % Adjusted EBITDA margin 37.4 % 34.9 % Held for Sale or Sold: Total Revenue, net $ 17,382 $ 255,543 -93 % -93 % Non-GAAP Adjusted Operating (Loss) Income $ (3,578 ) $ 28,711 # # Depreciation and amortization - 3,437 # # Non-GAAP Adjusted EBITDA $ (3,578 ) $ 32,148 # # Adjusted EBITDA margin -20.6 % 12.6 % Corporate Expenses: Non-GAAP Adjusted Corporate Expenses $ (179,882 ) $ (185,456 ) 3 % 3 % Depreciation and amortization 13,924 22,434 38 % 38 % Non-GAAP Adjusted EBITDA $ (165,958 ) $ (163,022 ) -2 % -2 % Consolidated Results: Revenue, net $ 1,677,609 $ 1,872,987 -10 % -10 % Less: Held for Sale or Sold Segment (3) (17,382 ) (255,543 ) -93 % -93 % Adjusted Revenue, net $ 1,660,227 $ 1,617,444 3 % 3 % Operating Income $ 221,409 $ 52,261 # # Adjustments: Restructuring charges 25,561 63,041 59 % 59 % Impairment of goodwill - 108,449 # # Held for Sale or Sold Segment Adjusted Operating Loss (Income) (3) 3,578 (28,711 ) # # Non-GAAP Adjusted Operating Income $ 250,548 $ 195,040 28 % 29 % Adjusted Operating Income margin 15.1 % 12.1 % Depreciation and amortization 147,126 176,989 17 % 17 % Less: Held for Sale or Sold depreciation and amortization (3) - (3,437 ) # # Non-GAAP Adjusted EBITDA $ 397,674 $ 368,592 8 % 8 % Adjusted EBITDA margin 24.0 % 22.8 % # Variance greater than 100% JOHN WILEY & SONS, INFORMATION (1)CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION(in thousands)(unaudited) April 30, April 30, 2025 2024 Assets: Current assets Cash and cash equivalents $ 85,882 $ 83,249 Accounts receivable, net 228,410 224,198 Inventories, net 22,875 26,219 Prepaid expenses and other current assets 102,717 85,954 Current assets held-for-sale - 34,422 Total current assets 439,884 454,042 Technology, property and equipment, net 162,125 192,438 Intangible assets, net 595,044 615,694 Goodwill 1,121,505 1,091,368 Operating lease right-of-use assets 66,128 69,074 Other non-current assets 306,780 283,719 Non-current assets held-for-sale - 19,160 Total assets $ 2,691,466 $ 2,725,495 Liabilities and shareholders' equity: Current liabilities Accounts payable $ 60,948 $ 55,659 Accrued royalties 109,765 97,173 Short-term portion of long-term debt 10,000 7,500 Contract liabilities 462,693 483,778 Accrued employment costs 93,117 96,980 Short-term portion of operating lease liabilities 18,282 18,294 Other accrued liabilities 66,051 76,266 Current liabilities held-for-sale - 37,632 Total current liabilities 820,856 873,282 Long-term debt 789,435 767,096 Accrued pension liability 71,899 70,832 Deferred income tax liabilities 105,145 97,186 Operating lease liabilities 81,482 94,386 Other long-term liabilities 70,443 71,760 Long-term liabilities held-for-sale - 11,237 Total liabilities 1,939,260 1,985,779 Shareholders' equity 752,206 739,716 Total liabilities and shareholders' equity $ 2,691,466 $ 2,725,495 Notes: (1) The supplementary information included in this press release for April 30, 2025 is preliminary and subject to change prior to the filing of our upcoming Annual Report on Form 10-K with the Securities and Exchange Commission. JOHN WILEY & SONS, INFORMATION (1)CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(in thousands)(unaudited) Year EndedApril 30, 2025 2024 Operating activities: Net income (loss) $ 84,161 $ (200,319 ) Impairment of goodwill - 108,449 Net loss on sale of businesses, assets, and impairment charges related to assets held-for-sale 23,340 183,389 Amortization of intangible assets 51,822 55,994 Amortization of product development assets 16,610 22,835 Amortization of cloud computing arrangements 1,081 1,210 Depreciation and amortization of technology, property, and equipment 78,694 98,160 Other noncash charges 101,808 106,507 Net change in operating assets and liabilities (154,925 ) (168,587 ) Net cash provided by operating activities 202,591 207,638 Investing activities: Additions to technology, property, and equipment (61,473 ) (76,080 ) Product development spending (15,228 ) (17,262 ) Businesses acquired in purchase transactions, net of cash acquired (3,602 ) (3,116 ) Net cash transferred related to the sale of businesses and assets (7,642 ) (1,771 ) Acquisitions of publication rights and other (6,073 ) (8,414 ) Net cash used in investing activities (94,018 ) (106,643 ) Financing activities: Net debt borrowings 13,509 27,767 Cash dividends (76,101 ) (76,964 ) Purchases of treasury shares (60,421 ) (45,050 ) Other (2,317 ) (12,974 ) Net cash used in financing activities (125,330 ) (107,221 ) Effects of exchange rate changes on cash, cash equivalents and restricted cash 3,146 (1,493 ) Change in cash, cash equivalents and restricted cash for period (13,611 ) (7,719 ) Cash, cash equivalents and restricted cash - beginning 99,543 107,262 Cash, cash equivalents and restricted cash - ending $ 85,932 $ 99,543 CALCULATION OF NON-GAAP FREE CASH FLOW LESS PRODUCT DEVELOPMENT SPENDING (2) Year Ended April 30, 2025 2024 Net cash provided by operating activities $ 202,591 $ 207,638 Less: Additions to technology, property, and equipment (61,473 ) (76,080 ) Less: Product development spending (15,228 ) (17,262 ) Free cash flow less product development spending $ 125,890 $ 114,296 Notes: (1) The supplementary information included in this press release for the year ended April 30, 2025 is preliminary and subject to change prior to the filing of our upcoming Annual Report on Form 10-K with the Securities and Exchange Commission. (2) See Explanation of Usage of Non-GAAP Performance Measures included in this supplemental information. JOHN WILEY & SONS, OF USAGE OF NON-GAAP PERFORMANCE MEASURES In this earnings release and supplemental information, management may present the following non-GAAP performance measures: Adjusted Earnings Per Share (Adjusted EPS); Free Cash Flow less Product Development Spending; Adjusted Revenue; Adjusted Operating Income and margin; Adjusted Income Before Taxes; Adjusted Income Tax Provision; Adjusted Effective Tax Rate; EBITDA, Adjusted EBITDA and margin; Organic revenue; and Results on a constant currency basis. Management uses these non-GAAP performance measures as supplemental indicators of our operating performance and financial position as well as for internal reporting and forecasting purposes, when publicly providing our outlook, to evaluate our performance and calculate incentive compensation. We present these non-GAAP performance measures in addition to US GAAP financial results because we believe that these non-GAAP performance measures provide useful information to certain investors and financial analysts for operational trends and comparisons over time. The use of these non-GAAP performance measures may also provide a consistent basis to evaluate operating profitability and performance trends by excluding items that we do not consider to be controllable activities for this purpose. The performance metric used by our chief operating decision maker to evaluate performance of our reportable segments is Adjusted Operating Income. We present both Adjusted Operating Income and Adjusted EBITDA for each of our reportable segments as we believe Adjusted EBITDA provides additional useful information to certain investors and financial analysts for operational trends and comparisons over time. It removes the impact of depreciation and amortization expense, as well as presents a consistent basis to evaluate operating profitability and compare our financial performance to that of our peer companies and competitors. For example: Adjusted EPS, Adjusted Revenue, Adjusted Operating Income, Adjusted Income Before Taxes, Adjusted Income Tax Provision, Adjusted Effective Tax Rate, Adjusted EBITDA, and organic revenue (excluding acquisitions) provide a more comparable basis to analyze operating results and earnings and are measures commonly used by shareholders to measure our performance. Free Cash Flow less Product Development Spending helps assess our ability, over the long term, to create value for our shareholders as it represents cash available to repay debt, pay common stock dividends, and fund share repurchases and acquisitions. Results on a constant currency basis remove distortion from the effects of foreign currency movements to provide better comparability of our business trends from period to period. We measure our performance excluding the impact of foreign currency (or at constant currency), which means that we apply the same foreign currency exchange rates for the current and equivalent prior period. In addition, we have historically provided these or similar non-GAAP performance measures and understand that some investors and financial analysts find this information helpful in analyzing our operating margins and net income, and in comparing our financial performance to that of our peer companies and competitors. Based on interactions with investors, we also believe that our non-GAAP performance measures are regarded as useful to our investors as supplemental to our US GAAP financial results, and that there is no confusion regarding the adjustments or our operating performance to our investors due to the comprehensive nature of our disclosures. We have not provided our 2026 outlook for the most directly comparable US GAAP financial measures, as they are not available without unreasonable effort due to the high variability, complexity, and low visibility with respect to certain items, including restructuring charges and credits, gains and losses on foreign currency, and other gains and losses. These items are uncertain, depend on various factors, and could be material to our consolidated results computed in accordance with US GAAP. Non-GAAP performance measures do not have standardized meanings prescribed by US GAAP and therefore may not be comparable to the calculation of similar measures used by other companies and should not be viewed as alternatives to measures of financial results under US GAAP. The adjusted metrics have limitations as analytical tools, and should not be considered in isolation from, or as a substitute for, US GAAP information. It does not purport to represent any similarly titled US GAAP information and is not an indicator of our performance under US GAAP. Non-GAAP financial metrics that we present may not be comparable with similarly titled measures used by others. Investors are cautioned against placing undue reliance on these non-GAAP measures. View source version on Contacts Brian CampbellInvestor Sign in to access your portfolio
Zawya
3 days ago
- Business
- Zawya
Egypt: Raya Holding's OGM greenlights cash dividends for Q1 2025
Arab Finance: Raya Holding for Financial Investments' ordinary general meeting (OGM) approved the distribution of cash dividends valued at EGP 0.4 per share for the first quarter (Q1) of 2025, according to a bourse filing. The company's consolidated net profits after minority interest jumped by 12% to EGP 370.221 million in Q1 2025 from EGP 330.954 million in Q1 2024. As for the standalone business, Raya Holding turned profitable at EGP 1.056 billion in the first three months of 2025, against net losses of EGP 173.387 million a year earlier. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Yahoo
4 days ago
- Business
- Yahoo
ReNew Announces Results for the Fourth Quarter and Full Fiscal Year: Reports 4X Growth in Q4 Net Profit
The Company registered its second consecutive year of profit since listing 4X jump in Q4 net profit on the back of strong growth in the manufacturing business Portfolio grows to ~18.5 GW, with manufacturing capacity set to rise to 6.5 GW of modules and 6.5 GW of cells Total operating capacity increased ~17% since April 2024 Agreements of ~US$260 million signed to recycle capital GURUGRAM, India, June 16, 2025--(BUSINESS WIRE)--Renew Energy Global Plc ("ReNew" or "the Company") (Nasdaq: RNW, RNWWW), a leading decarbonization solutions company, today announced its unaudited consolidated IFRS results for Q4 FY25 and the fiscal year ended March 31, 2025. Operating Highlights: As of March 31, 2025, the Company's portfolio consisted of ~17.3 GWs, compared to ~13.5 GWs as of March 31, 2024. Subsequent to the fiscal year-end, the Company has signed ~1.2 GW of PPAs, taking the total portfolio to ~18.5 GW (+1.1 GWh Battery Energy Storage System or "BESS"). In addition, the Company has 6.5 GW of solar module manufacturing and 2.5 GW of cell manufacturing. The Company's commissioned capacity has increased 12.4% year-over-year to ~10.7 GWs (net of 300 MWs of assets sold during FY25) as of March 31, 2025. Subsequent to the fiscal year-end, the Company has commissioned 466 MWs of which 436 MWs is solar and 30 MWs is wind, taking the total commissioned capacity to ~11.2 GWs. Total Income (or total revenue) for Q4 FY25 was INR 34,391 million (US$ 403 million), compared to INR 24,776 million (US$ 290 million) for Q4 FY24. Revenue from the sale of power for Q4 FY25 was INR 18,294 million (US$ 214 million), compared to INR 16,908 million (US$ 198 million) for Q4 FY24. Net profit for Q4 FY25 was INR 3,137 million (US$ 37 million) compared to INR 609 million (US$ 7 million) for Q4 FY24. Adjusted EBITDA for Q4 FY25 was INR 22,118 million (US$ 259 million), as against INR 16,810 million (US$ 197 million) in Q4 FY24. Total Income (or total revenue) for FY25 was INR 109,070 million (US$ 1,277 million), compared to INR 96,531 million (US$ 1,130 million) for FY24. Revenue from the sale of power for FY25 was INR 81,486 million (US$ 954 million) compared to INR 76,624 million (US$ 896 million) for FY24. Net profit for FY25 was INR 4,591 million (US$ 54 million) compared to INR 4,147 million (US$ 49 million) for FY24. Adjusted EBITDA for FY25 was INR 79,188 million (US$ 927 million), as against INR 69,216 million (US$ 810 million) for FY24. Total income (or total revenue) for Q4 FY25 includes external sales from our module and cell manufacturing operations, amounting to INR 9,914 million (US$ 116 million). Net profit and Adjusted EBITDA for Q4 FY25 from external sales from our module and cell manufacturing operations were INR 2,200 million (US$ 26 million) and INR 3,615 million (US$ 42 million), respectively. Total income (or total revenue) for FY25 includes external sales from our module and cell manufacturing operations, amounting to INR 13,373 million (US$ 157 million). Net profit and Adjusted EBITDA for FY25 from external sales from our module and cell manufacturing operations were INR 2,623 million (US$ 31 million) and INR 4,212 million (US$ 49 million), respectively. FY 26 Guidance The Company expects to complete construction of 1.6 to 2.4 GW by the end of Fiscal Year 2026. The Company's Adjusted EBITDA and Cash Flow to Equity guidance for FY26 are subject to weather and resource availability being similar to FY25. The Company anticipates continued net gains in sales of assets, which is part of ReNew's capital recycling strategy, and has included INR 1-2 billion related to asset sales in the Adjusted EBITDA. The Company also expects external sales from our module and cell manufacturing operations and has included INR 5-7 billion of Adjusted EBITDA against such sales in this guidance. Financial Year Adjusted EBITDA Cash Flow to Equity (CFe) FY26 INR 87 – INR 93 billion INR 14 – INR 17 billion Note: the translation of Indian rupees into U.S. dollars has been made at INR 85.43 to US$ 1.00. See note 1 for more information. Webcast and Conference call information A conference call has been scheduled to discuss the earnings results at 8:30 AM EST (6:00 PM IST) on June 16, 2025. The conference call can be accessed live at: or by phone (toll-free) by dialing: US/Canada: (+1) 855 881 1339France: (+33) 0800 981 498Germany: (+49) 0800 182 7617Hong Kong: (+852) 800 966 806India: (+91) 0008 0010 08443Japan: (+81) 005 3116 1281Singapore: (+65) 800 101 2785Sweden: (+46) 020 791 959UK: (+44) 0800 051 8245Rest of the world: (+61) 7 3145 4010 (toll) An audio replay will be available following the call on our investor relations website at Notes: (1) This press release contains translations of certain Indian rupee amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise stated, the translation of Indian rupees into U.S. dollars has been made at INR 85.43 to US$ 1.00, which was the noon buying rate in New York City for cable transfer in non-U.S. currencies as certified for customs purposes by the Federal Reserve Bank of New York on March 31, 2025. We make no representation that the Indian rupee or U.S. dollar amounts referred to in this press release could have been converted into U.S. dollars or Indian rupees, as the case may be, at any particular rate or at all. Non-Binding Offer received in December 2024 On December 11, 2024 the Company announced that it has received a non-binding proposal dated December 10, 2024 from Abu Dhabi Future Energy Company PJSC-Masdar ("Masdar"), Canada Pension Plan Investment Board ("CPP Investments"), Platinum Hawk C 2019 RSC Limited as trustee for the Platinum Cactus A 2019 Trust ("Platinum Hawk") (a wholly owned subsidiary of the Abu Dhabi Investment Authority, "ADIA") and Sumant Sinha (the Founder, Chairman and CEO of ReNew) (together with Masdar, CPP Investments and Platinum Hawk, the "Consortium") to acquire the entire issued and to be issued share capital of the Company not already owned by members of the Consortium, for cash consideration of US$7.07 per share. As announced at the time of receipt of the non-binding offer, the ReNew Board of Directors formed a Special Committee ("Special Committee") led by Manoj Singh, the Lead Independent Director, consisting of the six independent non-executive ReNew Directors to consider the non-binding proposal. The role of the Special Committee is to constructively explore and evaluate all strategic capitalization / financing opportunities available to the Company, including proposals received, and act in the interests of all shareholders. To assist in these efforts, the Special Committee has retained an independent financial advisor, Rothschild & Co and independent legal counsel, Linklaters LLP. Active discussions with the Consortium are ongoing and the Special Committee will provide an update to the market on the outcome as soon as reasonably practicable. The ReNew Executive Management's primary focus will be to continue to ensure the effective management of the Company and in addition, contribute to the evaluation process, as required by the Special Committee. No assurance can be given regarding the likelihood, terms or details of a potential transaction resulting from the proposal received from the Consortium or any other potential transaction. Further decisions or disclosures by the Special Committee will be made as appropriate or required. Forward Looking Statements This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. The Company cautions readers of this press release that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond our control, that could cause the actual results to differ materially from the expected results. These forward-looking statements include statements regarding our future financial and operating guidance, operational and financial results such as estimates of nominal contracted payments remaining and portfolio run rate, and the assumptions related to the calculation of the foregoing metrics, and our expectations regarding any proposal received from the Consortium, including the timing or terms of any transaction with the Consortium or any other alternative transactions. The risks and uncertainties that could cause our results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to: the availability of additional financing on acceptable terms; changes in the commercial and retail prices of traditional utility generated electricity; changes in tariffs at which long-term PPAs are entered into; changes in policies and regulations including net metering and interconnection limits or caps; the availability of rebates, tax credits and other incentives; the availability of solar panels and other raw materials; our limited operating history, particularly as a relatively new public company; our ability to attract and retain relationships with third parties, including solar partners; our ability to meet the covenants in our debt facilities; meteorological conditions; supply disruptions; solar power curtailments by state electricity authorities and such other risks identified in the registration statements and reports that our Company has filed or furnished with the U.S. Securities and Exchange Commission, or SEC, from time to time, including ReNew Energy Global's annual report on Form 20-F filed with the SEC on July 30, 2024. Portfolio represents the aggregate megawatts capacity of solar power plants pursuant to PPAs, signed or allotted or where we have received a letter of award. There is no assurance that we will be able to sign a PPA even though we have received a letter of award. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we assume no obligation to update these forward-looking statements. About ReNew Unless the context otherwise requires, all references in this press release to "we," "us," or "our" refer to ReNew and its subsidiaries. ReNew is a leading decarbonization solutions company listed on Nasdaq (Nasdaq: RNW, RNWWW). ReNew's clean energy portfolio of ~18.5 GWs on a gross basis as of June 16, 2025, is one of the largest globally. In addition to being a major independent power producer in India, we provide end-to-end solutions in a just and inclusive manner in the areas of clean energy, value-added energy offerings through digitalization, storage, and carbon markets that are increasingly integral to addressing climate change. For more information, visit and follow us on LinkedIn, Facebook, and Twitter. View source version on Contacts Press Enquiries pr@ Investor Enquiries Anunay Shahi, Nitin Vaid | ir@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
We Ran A Stock Scan For Earnings Growth And Tower (NZSE:TWR) Passed With Ease
For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to investors, even if it currently lacks a track record of revenue and profit. Unfortunately, these high risk investments often have little probability of ever paying off, and many investors pay a price to learn their lesson. Loss making companies can act like a sponge for capital - so investors should be cautious that they're not throwing good money after bad. So if this idea of high risk and high reward doesn't suit, you might be more interested in profitable, growing companies, like Tower (NZSE:TWR). While profit isn't the sole metric that should be considered when investing, it's worth recognising businesses that can consistently produce it. We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. In the last three years Tower's earnings per share took off; so much so that it's a bit disingenuous to use these figures to try and deduce long term estimates. As a result, we'll zoom in on growth over the last year, instead. Outstandingly, Tower's EPS shot from NZ$0.10 to NZ$0.26, over the last year. It's not often a company can achieve year-on-year growth of 152%. One way to double-check a company's growth is to look at how its revenue, and earnings before interest and tax (EBIT) margins are changing. The good news is that Tower is growing revenues, and EBIT margins improved by 10.8 percentage points to 21%, over the last year. That's great to see, on both counts. In the chart below, you can see how the company has grown earnings and revenue, over time. For finer detail, click on the image. Check out our latest analysis for Tower Of course the knack is to find stocks that have their best days in the future, not in the past. You could base your opinion on past performance, of course, but you may also want to check this interactive graph of professional analyst EPS forecasts for Tower. Insider interest in a company always sparks a bit of intrigue and many investors are on the lookout for companies where insiders are putting their money where their mouth is. This view is based on the possibility that stock purchases signal bullishness on behalf of the buyer. Of course, we can never be sure what insiders are thinking, we can only judge their actions. The first bit of good news is that no Tower insiders reported share sales in the last twelve months. Even better, though, is that the company insider, Blair Turnbull, bought a whopping NZ$429k worth of shares, paying about NZ$1.48 per share, on average. Big buys like that may signal an opportunity; actions speak louder than words. Tower's earnings have taken off in quite an impressive fashion. Most growth-seeking investors will find it hard to ignore that sort of explosive EPS growth. And may very well signal a significant inflection point for the business. If this is the case, then keeping a watch over Tower could be in your best interest. We should say that we've discovered 2 warning signs for Tower (1 makes us a bit uncomfortable!) that you should be aware of before investing here. There are plenty of other companies that have insiders buying up shares. So if you like the sound of Tower, you'll probably love this curated collection of companies in NZ that have an attractive valuation alongside insider buying in the last three months. Please note the insider transactions discussed in this article refer to reportable transactions in the relevant jurisdiction. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
