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Darden Restaurants delivered a decent quarterly result exceeding sales expectations and having fairly good earnings despite the highly inflationary environment. The 2022 fiscal has been good for the company despite the impact of the Omicron variant as its brands continue to strengthen their business models. The addition of 33 net new restaurants, which included one temporary closure that will reopen in fiscal 2023, and an increase of 11.7% in same-restaurant sales contributed to the fourth quart
Companies: Darden Restaurants, Inc. (DRI:NYS)1&1 AG (0E6Y:LON)
Baptista Research
Darden Restaurants had a decent 2021 despite the volatility in the macro-economic environment for restaurants. The Omicron variant significantly impacted consumer demand, restaurant staffing, and operating expenses in the past few months, particularly during the high-volume periods for the company. However, now that the Covid-19 cases are decreasing and the operating environment normalizing, the company is back on track over the past few weeks. It is worth highlighting that the current geopoliti
Darden performed well in 2021 despite the volatile environment. The Omicron variant significantly impacted consumer demand, restaurant staffing, and operating expenses in the past few months, particularly during the high-volume periods for the company. However, now that the Covid-19 cases are decreasing and the operating environment normalizing, the company is back on track over the past few weeks. It is worth highlighting that the current geopolitical environment posed additional risks for the
Darden Restaurants’ stock has been hit after the rising fears associated with the fast-spreading Omicron variant. The company had a fantastic last quarter when sales trends were strong across all of its brands. They also accomplished excellent profitable sales growth despite a challenging inflationary environment. However, cost pressures on commodities and labour have continued to be beyond management expectations with inflation beyond 6% hitting the margins. Darden’s management implemented seve
The restaurant industry has started showing strong signs of recovery as Covid-19 headwinds have started to recede. Darden Restaurants’ recent result was a prime example of the recovery as the company delivered a strong same-restaurant sales number and an overall revenue growth of 51% surpassing Wall Street expectations. The company is seeing its sales per operating week up by 4.8% compared to the pre-Covid era. The momentum in the sales trend in the fourth quarter of previous year continued in t
The restaurant industry has started its journey of recovery over the past couple of quarters and Darden Restaurants is riding the recovery wave as well. The company had a solid performance in the recent quarter and reported a humungous year-on-year growth of 80% after the management added 14 new restaurants to make the most out of the increasing customer footfalls. The company has an excellent portfolio of brands including Olive Garden, LongHorn Steakhouse, The Capital Grille and Eddie V's. The
Research Tree provides access to ongoing research coverage, media content and regulatory news on 1&1 AG. We currently have 12 research reports from 3 professional analysts.
CyanConnode exceeded FY24 revenue expectations and has high visibility into FY25, supported by strong deliveries and a growing backlog respectively.
Companies: CyanConnode Holdings plc
Zeus Capital
Artificial intelligence (AI) is a double-edged sword in cybersecurity. Whilst new AI models, architectures, and innovations are emerging to protect the security posture of organisations, attackers are also benefiting from deepfakes, sophisticated phishing, and automation of malicious codes. To ensure the impact of AI on cybersecurity to be a net-positive, we need to pit good AI against bad AI. Point solutions enhanced with machine learning: Global cybersecurity has been built with point soluti
Companies: EPIC DARK TIDE IGP IOM NCC CHRT CNS CLCO TERN SWG CCS SYS BVC
Hybridan
Companies: BATM Advanced Communications Ltd.
Shore Capital
FY23 revenues and EBITDA were in line with expectations. The major news was that BT plans to shed more than 40% of staff. At the end of the decade the EBITDA could reach £11bn with the massive restructuring announced and capex could return to €3.5bn per year. EBITDA less capex could be multiplied by 2.5 and therefore also the dividend. This could value BT at 385 pence at that time. We maintain our opinion at Add on the stock.
Companies: BT Group plc
AlphaValue
A decent Q1 performance despite the expected headwinds from cost-of-living pressure and cost inflation. The group is clearly a fairly safe long-term buy and hold. BT plans to shed more than 40% of staff by the end of the decade. In parallel it is further accelerating its FTTP deployment with high capex. But at the end of this phase EBITDA-capex could be multiplied by 2.5. Speculation could also again reignite as Drahi’s empire (owning 24.5% of BT) is being shaken by corruption cases.
Calnex has released a pre-close trading update for the year to March 2024, indicating that revenue would be £16.3m, c£0.7m below our forecast, partly due to the timing of orders at the end of the period. Group trading has been impacted by the well-documented, continuing challenges in the Telecoms sector which have seen delayed project timings leading to corresponding delays in customer spending. Administrative costs are being controlled and are focussed on maintaining R&D. Calnex remains confide
Companies: Calnex Solutions Plc
Cavendish
Q4 revenues were only up by 1.3% yoy (excluding the inclusion of EE for two months). A better performance than might be thought at first sight given the 8% decline recorded by the wholesale division (due to the benefit of ladder pricing revenue recognised last year). BT’s Fixed consumer revenues, 25% of BT’s business (excluding EE and Openreach) corresponding to BT’s own retail business, were up by 8% yoy with a 20% increase in broadband and TV revenue. Openreach revenue (28% of BT’s revenue not
Q1 16 revenues declined by 2.6% yoy (excluding the contact centre business SNT Deutschland which was sold in Q1). Once again growing Consumer revenues were offset by the impact of the ongoing decline in size of the business market and lower revenues at iBasis. The EBITDA decreased by 4.5% yoy but this is due to temporarily higher IT-related costs in network and operations in the run-up to IT rationalisation. Note also an impairment charge related to iBasis for €45m. KPN intends to pay a regul
Companies: Royal KPN NV
Q4 2015 revenues declined by 5.9% yoy (adjusted with a tax settlement benefit of €44m in Q4 2014). Growing Consumer revenues were offset by the impact of the ongoing decline of the business market size and lower revenues at iBasis. The EBITDA decreased however by only 0.7% yoy in Q4 2015 (without the tax settlement benefit in Q4 2014). These results are quite disappointing compared to the previous Q3 where revenues were down by only 2.6% yoy (vs -3.5% in H1) thanks to 3.7% growth on the co
Q3 revenues and EBITDA were up by 3% yoy. Quite a good set of results for the new telco king of England (following the completion of EE’s acquisition). BT Fixed consumer revenues (25% of BT’s business not including Openreach sales corresponding to BT’s own retail business) were up by 11% yoy with a 23% increase in broadband and TV revenue. Openreach revenue (28% of BT’s revenue not including EE) was up by 3% yoy with record net fibre broadband additions of 494k, 32% higher than last year. There
Although Q1 revenues had decreased by 2.6% yoy while the EBITDA had declined slightly more by 4.5%, it was the opposite in Q2 with revenues down more than expected by 4.3% yoy but a better EBITDA down by only 1.7%. Once again, growing Consumer revenues were offset by the impact of the ongoing decline in the size of the business market. So, as in the two previous quarters, a mixed release.
BT group has released its Q1 numbers. But note, in parallel, another key point: two days ago Ofcom announced a half-step towards a separation between BT and Openreach (BT’s division which operates the fibre network). Q1 revenues were only up by 0.4% yoy (excluding EE). Like in the previous quarter, it is a better performance than might be thought at first sight given the 6% decline recorded by the wholesale division (due to the benefit of ladder pricing revenue recognised last year). BT’s Fixed
Quite a good Q3 for KPN: even if revenues, down by 3% yoy, are still suffering from the decline in the business market size (consumer revenues grew by 1.5% yoy), the EBITDA was good (growing by 3.4% yoy as it was down by 4.5% in Q1 and by 1.7% in Q2) driven by customer base growth and the positive impact of cost savings.
Q2 revenues were up by 1.1% yoy excluding EE (vs +0.4% in Q1). Like in the previous quarter, this is a better performance than might be thought at first sight given the 5% decline recorded by the wholesale division (due to Partial Private Circuits customers continuing to migrate to newer Internet Protocol-based technologies). BT’s Fixed consumer revenues, 20% of BT’s business corresponding to BT’s own retail business, were up by 11% yoy with a 17% increase in broadband and TV revenue. Openreach’
BT previously announced on 27 October 2016 that an initial internal investigation of accounting practices in its Italian business had identified certain historical accounting errors and areas of management judgement requiring reassessment. At that time, they announced the write-down of items on the balance sheet by £145m, being the then best estimate of the financial impact of these issues. Since then, BT has progressed with the investigation, which has included an independent review by KPMG of
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