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Arrowhead Pharmaceuticals reports a loss of 12 cents per share in Q4

Arrowhead Pharmaceuticals (ARWR) reported Q4 and fiscal 2018 earnings results after the bell today. For the fourth quarter ended September 30, 2018, the company reported a loss of 12 cents per share on revenues of $11.3 million. This compares to a loss of 14 cents per share on revenues of $8.7 million in the prior year quarter. Shares of Arrowhead dropped about 3% in the after-market trading.

Analysts had forecasted the company to post a loss of 12 cents per share in Q4 on revenues of $8 million.

Arrowhead Pharmaceuticals (ARWR) Q4 2018 revenue and earnings/loss trend

For the year ended September 30, 2018, revenue almost halved to $16.1 million versus $31.4 million in the prior year. Net loss widened to 65 cents per share compared to a loss of 47 cents per share in the prior year.

For fiscal 2018, analysts estimated Arrowhead to post a loss of 65 cents per share on revenues of $12.89 million.

Related: Arrowhead Pharmaceuticals Q3 2018 earnings transcript

In early October, Arrowhead said that Janssen Pharmaceuticals, a unit of Johnson & Johnson (JNJ) signed an agreement to develop and market its gene-silencing Hepatitis B drug and pick up a minor stake in the company in a deal that could be potentially worth more than $3.7 billion.

The Pasadena, California-based firm received $175 million as an upfront payment and received $75 million in the form of an equity investment by Johnson & Johnson Innovation – JJDC, Inc., at a price of $23.00 per share of Arrowhead common stock.

It’s worth noting that Arrowhead did not report its Q4 revenue and loss figures in the press release issued after the bell today. These key financial numbers of Q4 were reported by the company in the Form 10-K filed today with the SEC.

In the past one year, Arrowhead stock had tripled its value. The stock ended Tuesday’s trading at $13.62, down 0.29%. The price target set for the stock is $24.38.

 

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American Eagle Q3 earnings rise; stock falls on revenue miss, guidance

Specialty apparel retailer American Eagle Outfitters (AEO) reported higher revenues and earnings for the third quarter. However, the top-line and the management’s guidance for the fourth quarter fell short of expectations, triggering a stock selloff during the extended trading hours Tuesday.

American Eagle Outfitters third quarter 2018 Earnings Infographic
American Eagle Outfitters Q3 2018 Earnings Infographic

Adjusted earnings jumped 30% annually to $0.48 per share in the third quarter, in line with expectations. Unadjusted earnings were $85.47 million or $0.48 per share, sharply higher than $63.73 million or $0.36 per share reported last year.

Revenues of the Pittsburgh, Pennsylvania-based company moved up 5% to $1 billion during the three-month period amidst broad-based demand growth, especially during the back-to-school season, which also resulted in a double-digit growth in online sales. Consolidated comparable store sales rose 8%, marking the 15th consecutive quarterly growth. The top-line, however, missed the Wall Street estimates.

“Looking forward, we will leverage our momentum and brand strength as we continue to drive growth and deliver returns to our shareholders,” said CEO Jay Schottenstein. Of late, the company has been investing heavily in the store network and digital channels as part of its efforts to garner a competitive advantage in the sector.

The company opened five American Eagle stores and closed three, ending the October quarter with 941 stores. Also, two Aerie stand-alone stores were opened and one outlet was closed, ending with 110 Aerie stand-alone stores. The company repurchased about one million shares for approximately $25 million during the quarter.

The management expects earnings to be between $0.40 per share and $0.42 per share in the fourth quarter when comparable sales are forecast to be in the positive mid-single digits and revenue growth in the low single digits. The outlook falls short of analysts’ forecast.

Shares of American Eagle Outfitters, which dropped about 22% over the past six months, traded lower throughout Tuesday’s regular trading session. The stock lost about 5% in the after-hours trading.

 

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