Quarterly Financial Report Watch

November 14, 2024

DENVER, Colo., Nov 14, 2024 (247marketnews.com)- Disney (NYSE: DIS) and Brookfield Corporation (NYSE: BN) already delivered impressive financial reports this morning, which Siyata Mobile (NASDAQ: SYTA) and Applied Materials (NASDAQ: AMAT) are well positioned to match, relatively speaking; while Rocket Lab’s (NASDAQ: RKLB) stellar report could provide insight into AST SpaceMobile’s (NASDAQ: ASTS) after market report.

Siyata Mobile’s (NASDAQ: SYTA) CEO, Marc Seelenfreund, may have given the plot away, last quarter, when his focus was already looking ahead to reporting this quarter’s results, “Second quarter revenue growth was tempered in large part due to the timing of the delivery of customer orders. However, we have a backlog of more than $7 million of confirmed orders, which gives us strong visibility into the second half of 2024. As such, we expect the third quarter will be a break-out quarter with high double-digit year-over-year growth as the delivery of orders accelerates. We have achieved ‘stocked’ status for our SD7 handsets with four of the largest North American cellular carriers and continue to tap into new vertical markets reinforcing a growth trajectory that extends into 2025 and beyond.”

Siyata focused its efforts on getting the largest carriers, including AT&T (NYSE: T), Verizon (NYSE: VZ), and T-Mobile (NASDAQ: TMUS), to stock its products, which sets up potential cobranding deals for Siyata’s devices and is rarified air for an independent communications device manufacturer.

In addition to booking significant new sales from these wireless carriers, Siyata announced sales to Bensalem Township School District, a follow-on order from a international EMS service provider, and that a couple of Californian governmental organizations replaced their legacy two-way radios with Siyata’s SD7 Push-to-Talk (PTT) Handsets and VK7 Vehicle Kits.

Bryan Etnyre, Public Safety Superintendent, CA State Parks, Orange Coast District, added, “This summer, California State Park Lifeguards in Orange County, CA began using FirstNet’s push-to-talk network using Siyata SD7 devices. 75 total devices were deployed allowing each lifeguard on the beach to effectively communicate with dispatch, patrol units, rescue vessels, and one another. The talk group layout allowed for greater situational awareness than one-to-one calling, and ultimately improved operations. Overall, the Siyata devices on the FirstNet network are a cost effective, easily scalable, and robust replacement for our existing Lifeguard tower communications system.”

While the case for Applied Materials (NASDAQ: AMAT) knocking it out of the park may not be as obvious as Siyata’s, Applied Materials has a history of surprising to the upside.

Analysts expect that Applied Materials will reach a 3.7% year-over-year growth rate, to $6.97 billion, with expected adjusted earnings of $2.19 per share.

AMAT’s Board of Directors approved a $0.40 per share quarterly cash dividend payable on the company’s common stock on Dec. 12, 2024 to shareholders of record as of Nov. 21, 2024.

In March 2024, Applied Materials announced a 25-percent increase in the dividend per share, from $0.32 to $0.40, marking the seventh consecutive year that Applied Materials increased its dividend per share, which has grown at a compound annual rate of approximately 15 percent over the past 10 years.

Applied Materials distributed $1.19 billion to shareholders, through dividends and share repurchases, for the previous quarter and the company had approximately $10.3 billion remaining in its share repurchase authorization at the end of that period.

Applied’s expertise is in modifying materials at atomic levels and materials engineering solutions used to produce most of today’s new chips and advanced displays.

AST SpaceMobile (NASDAQ: ASTS), a satellite manufacturer and SpaceX partner, is also reporting this afternoon and will hope to emulate SpaceX competitor, Rocket Lab (NASDAQ: RKLB), which launched after reporting a 55% revenue increase to $105 million.

This will be AST SpaceMobile’s first quarterly report since making several executive leadership team moves, designed to accelerate commercialization and manufacturing efforts and support its space-based cellular broadband network build out

In June, AST SpaceMobile’s strategic realignment included expanding roles for Scott Wisniewski, who added the role of President to his Chief Strategy Officer duties, Shanti Gupta, added Chief Operations Officer role to his Chief Accounting Officer duties, and Andrew Johnson, added the role of Chief Financial Officer to his Chief Legal Officer duties.

Disney (NYSE: DIS) reported its fourth quarter and full year financial results, as fourth quarter revenues increased 6%, to $22.6 billion from $21.2 billion in the prior-year quarter, and 3% for the year, to $91.4 billion from $88.9 billion in the prior year.

Pixar’s Inside Out 2 and Marvel’s Deadpool & Wolverine were key drivers that helped Disney significantly grow its operating income.

Fourth quarter diluted earnings per share (EPS) increased 79% to $0.25 from $0.14 in the prior-year quarter, and for the year more than doubled to $2.72 from $1.29 in 2023.

Robert Iger, Disney’s CEO, commented, “This was a pivotal and successful year for The Walt Disney Company, and thanks to the significant progress we’ve made, we have emerged from a period of considerable challenges and disruption well positioned for growth and optimistic about our future.

“Our solid performance in the fiscal fourth quarter reflected the success of our strategic efforts to improve quality, innovation, efficiency, and value creation. In Q4 we saw one of the best quarters in the history of our film studio, improved profitability in our streaming businesses, a record-breaking 60 Emmy Awards for the company, the continued power of live sports, and the unveiling of an impressive collection of new projects coming to our Experiences segment. As a result of our strategies and our focus on managing our businesses for both the near- and long-term, we are differentiating ourselves from traditional competitors, leveraging the deepest and broadest set of entertainment assets in the industry to drive attractive returns and further advance our goals.”

All Brookfield (NYSE: BN) announced was that it hit record financial results for the quarter, with distributable earnings before realizations Increased 19% to a record $1.3 billion or $0.80 Per Share Advanced Monetizations of $17 billion and New Investments of $20 billion as Transaction Activity Continues to Increase

Nick Goodman, Brookfield’s President, stated, “Our financial performance in the third quarter was strong, delivering record cash earnings from our base businesses, and we expect this momentum to continue into 2025. We repurchased approximately $1 billion of shares over the last twelve months and will continue allocating capital opportunistically to share buybacks.

“With capital markets continuing to improve and transaction activity picking up, we recently executed on several financings and signed or closed a number of monetizations across our business. As the macro tailwinds turn in our favor, we are better positioned than ever to drive strong earnings growth and deliver 15%+ total returns to our shareholders over the long term.”

Brookfield’s board declared a quarterly dividend of $0.08 per share, payable on December 31, 2024 to shareholders of record as at the close of business on December 16, 2024.

 

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