RE Royalties Announces Third Quarter 2023 Financial Results and Key Business Highlights
All amounts in Canadian dollars unless otherwise stated
VANCOUVER, BC / ACCESSWIRE / November 27, 2023 / RE Royalties Ltd. (TSX.V:RE)(OTCQX:RROYF) (“RE Royalties” or the “Company“), a global leader in renewable energy royalty-based financing, is pleased to announce the financial results for the third quarter ended September 30, 2023 (“Q3 2023“). For further information on these results please see the Company’s Condensed Consolidated Interim Financial Statements and Management’s Discussion and Analysis for Q3 2023, filed on SEDAR+ at www.sedarplus.com.
Key business and financial highlights for Q3 2023 include:
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The Company entered into a loan agreement and a royalty agreement with Butler Corporation SpA (“CleanLight”), a Chilean technology company and manufacturer of mobile solar-battery systems including solar lighting towers and solar-hybrid battery generators. The Company provided a US$3 million secured loan to finance CleanLight’s expansion into other countries in Latin America. The CleanLight loan has a two-year term, and bears interest of 12% per annum. The Company also acquired a gross revenue royalty of 5% for a period of 10 years, for US$200,000. The royalty rate will reduce to 3% after certain revenue milestones are met.
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The Company entered into a loan agreement and a royalty agreement with Revolve Renewable Power Corp. (“Revolve”) to support Revolve’s acquisition of a portfolio of two operational run-of-river hydro projects in British Columbia, and one operational wind project in Alberta with a combined gross capacity of 23 MW (the “Operational Projects”).The Operational Projects receive revenue from Power Purchase Agreements (“PPAs”) with BC Hydro and the City of Medicine Hat, for the hydro projects and the wind project, respectively. The Operational Projects have PPAs with remaining terms ranging from 32-35 years for the hydro projects and 11 years for the wind project. The loan will have a term
Spero Therapeutics to Provide Business Update and Report Third Quarter 2023 Financial Results on Monday, November 13, 2023
CAMBRIDGE, Mass., Nov. 06, 2023 (GLOBE NEWSWIRE) — Spero Therapeutics, Inc. (Nasdaq: SPRO), a multi-asset clinical-stage biopharmaceutical company, focused on identifying, developing and commercializing treatments in high unmet need areas involving rare diseases and multi-drug resistant (MDR) bacterial infections, today announced that it will host a conference call and live audio webcast on Monday, November 13, 2023 at 4:30 p.m. ET to report its third quarter 2023 financial results and provide an update on its business and pipeline.
To access the call, please dial 1-877-704-4453 (domestic) or 1-201-389-0920 (international) and refer to conference ID 13741831, or click on this link and request a return call. The audio webcast can be accessed on the “Events and Presentations” page under the “Connect” tab of the Company’s website at www.sperotherapeutics.com. The archived webcast will also be available on Spero’s website for 30 days following the call.
About Spero Therapeutics
Spero Therapeutics, headquartered in Cambridge, Massachusetts, is a multi-asset, clinical-stage biopharmaceutical company focused on identifying, developing, and commercializing novel treatments for bacterial infections, including multi-drug resistant bacterial infections and rare diseases.
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Spero Therapeutics is developing SPR720 as a novel oral therapy candidate for the treatment of a rare, orphan pulmonary disease caused by non-tuberculous mycobacterial infections.
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Tebipenem HBr is an investigational drug in the United States being developed for the treatment of complicated urinary tract infection (cUTI), including pyelonephritis, caused by certain bacteria, in adult patients who have limited treatment options; tebipenem HBr is not U.S. Food and Drug Administration (FDA)-approved.
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Spero Therapeutics also has an IV-administered next generation polymyxin product candidate, SPR206, developed from its potentiator platform, which is in development to treat MDR Gram-negative infections in the hospital setting.
For more information, visit https://sperotherapeutics.com.
Investor Relations Contact:
Ted Jenkins
Vice President, Investor Relations and Strategic
Prudential unveils Q3 financial results
Health and protection now make up more than a third of new business profit
Insurance News
By
Kenneth Araullo
Prudential Plc has published its financial results for the third quarter of the year.
The company reported an uptick in annualised premium equivalent (APE) sales, with a substantial year-on-year increment. When setting aside broader economic impacts, the firm’s new business margins are also up, benefiting from strategic changes in both channel and regional contributions. Notably, health and protection products now account for 37% of Prudential’s new business profit.
Agency channel APE sales surged by 81%, with a corresponding 62% rise in new business profits over the same period last year, notwithstanding the downward pressures from interest rates. This surge reflects robust demand from visitors from the Chinese Mainland and local customers in Hong Kong, along with uplifts in agency output across other markets.
Bancassurance channel APE sales grew by 3%, propelled by new product launches and banking alliances in markets like Taiwan, balanced against challenges in the Chinese Mainland and softer consumer sentiment in Vietnam.
Prudential’s performance in ASEAN markets
In Indonesia, the impact of product repricing and enhancements introduced in the first half of the year began to level off in the third quarter, though new business profit continues to maintain growth.
Meanwhile, Malaysia’s focus on enhancing agent productivity through developmental programs is yielding quarter-over-quarter improvements. Prudential Singapore’s APE sales have increased, thanks in part to new product launches. Challenges posed by higher interest rates earlier in the year have, however, affected new business profits for the nine-month
Lightbridge Provides Business Update and Announces Third Quarter 2023 Financial Results
Conference Call on Tuesday, October 31 at 4 p.m. ET
RESTON, Va., Oct. 30, 2023 (GLOBE NEWSWIRE) — Lightbridge Corporation (Nasdaq: LTBR), an advanced nuclear fuel technology company, announced its financial results for the third quarter ended September 30, 2023, and provided an update on the Company’s continued progress.
Seth Grae, President & Chief Executive Officer of Lightbridge Corporation, commented, “We are making excellent progress on our fuel development efforts. Our recently announced engineering study in Romania is an important advancement for examining Lightbridge Fuel’s feasibility in CANDU reactors. Together with our Strategic Partnership Project Agreement with Idaho National Laboratory that we announced in December and the DOE-funded studies at MIT and Texas A&M relating to our fuel for small modular reactors, we continue to advance towards commercial applications in reactors of today and of the future.”
Financial Highlights
The Company maintained a working capital position at September 30, 2023 of $28.6 million and had no debt.
Cash Flows Summary
Cash and cash equivalents were $29.2 million, as compared to $28.9 million at December 31, 2022, an increase of $0.3 million for the nine months ended September 30, 2023, consisting of the following:
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Cash used in operating activities for the nine month periods ended September 30, 2023 and September 30, 2022 was $4.1 million.
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Cash provided by financing activities for the nine months ended September 30, 2023, was $4.5 million, a decrease of $6.1 million compared to $10.6 million in the nine months ended September 30, 2022. This decrease was due to a decrease in the net proceeds from the issuance of common stock by our at-the-market (ATM) facility in the first nine months of 2023.
Balance Sheet Summary
Total assets were $30.1 million, and total liabilities were $0.9 million at September 30, 2023. Working capital was $28.6
InspireMD to Report Third Quarter 2023 Financial Results and Provide Corporate Business Update on Monday, November 6th
-Conference call and webcast to be held at 8:30 a.m. EST-
TEL AVIV, Israel and MIAMI, Oct. 30, 2023 (GLOBE NEWSWIRE) — InspireMD, Inc. (Nasdaq: NSPR), developer of the CGuard™ Embolic Prevention Stent System (EPS) device for the treatment of Carotid Artery Disease and stroke prevention, announced today it will report third quarter 2023 financial results on Monday, November 6th, 2023, before the financial markets open.
Management will host a conference call and webcast with the investment community at 8:30 am (EST) that same day to review financial results and provide an update on corporate developments.
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InspireMD Third Quarter 2023 Financial Results and Corporate Update Conference Call and Webcast |
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Monday, November 6th, 2023 |
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8:30 a.m. ET |
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Toll-Free: 1-877-407-4018 |
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The conference call will be webcast live from the Company’s website and will be available via the following links: |
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Webcast: |
Webcast link – click here |
The webcast should be accessed 15 minutes prior to the conference call start time. A replay of the webcast will be available following the conclusion of the live broadcast and will be accessible on the Company’s website.
About InspireMD, Inc.
InspireMD seeks to utilize its proprietary MicroNet® technology to make its products the industry standard for carotid stenting by providing outstanding acute results and durable, stroke-free, long-term outcomes.
Forward-looking Statements
This press release contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential”, “scheduled” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are
CNA posts Q3 financial results
Company posted a net income versus a net loss in the same period last year
Property
By
Kenneth Araullo
CNA Financial Corporation has announced its financial results for the third quarter of 2023.
The commercial P&C insurer reported a net income of $258 million, equivalent to $0.95 per share. This marked a substantial turnaround from the prior year quarter’s net loss of $42 million, amounting to $(0.15) per share.
While the net investment loss for this quarter was $31 million, it is still a significant improvement from $85 million during the same period in the prior year. The core income for the quarter stood at $289 million, equivalent to $1.06 per share, a notable surge from $43 million or $0.16 per share in the prior year quarter.
Upswing in P&C
In the property and casualty (P&C) segments, core income for the third quarter of 2023 reached $351 million, reflecting a robust upswing of $91 million compared to the previous year’s quarter. This growth was primarily driven by escalated net investment income, a record high in pretax underlying underwriting income, and reduced catastrophe losses.
Notably, P&C segments, excluding third party captives, showcased considerable progress with a 7% growth in gross written premium and a 6% surge in net written premium. This advancement was primarily steered by a renewal premium change of +6%, which included a rate of +5% and an exposure change of +1%.
The P&C core income witnessed a substantial 35% surge in the quarter, propelled by increased investment income and $220 million in underlying underwriting income. The overall combined ratio stood at 94.3%, comprising pretax catastrophe losses of $94 million, equating to 4.1 points, along with a favorable prior period development of 0.2 points.
South Korea Financial Markets | West Virginia Business News
Ellington Financial Announces Estimated Book Value Per Common Share as of September 30, 2023
OLD GREENWICH, Conn., October 25, 2023–(BUSINESS WIRE)–Ellington Financial Inc. (NYSE: EFC) (the “Company”) today announced its estimated book value per share of common stock of $14.33 as of September 30, 2023. This estimate includes the effect of the previously announced monthly dividend of $0.15 per share of common stock, payable on October 25, 2023 to holders of record on September 29, 2023, with an ex-dividend date of September 28, 2023.
Cautionary Statement Regarding Forward-Looking Statements
Estimated book value per common share is subject to change upon completion of the Company’s month-end and quarter-end valuation procedures relating to its investment positions, and any such change could be material. There can be no assurance that the Company’s estimated book value per common share as of September 30, 2023 is indicative of what the Company’s results are likely to be for the three- or nine-month periods ending September 30, 2023 or in future periods, and the Company undertakes no obligation to update or revise its estimated book value per common share prior to issuance of financial statements for such periods.
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve numerous risks and uncertainties. The Company’s actual results may differ from its beliefs, expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Forward-looking statements are not historical in nature and can be identified by words such as “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “continue,” “intend,” “should,” “would,” “could,” “goal,” “objective,” “will,” “may,” “seek” or similar expressions or their negative forms, or by references to strategy, plans, or intentions. Forward-looking statements are based on our beliefs, assumptions and expectations of our future operations, business strategies,
Financial markets tumble after fresh jobs data
Recap for October 5
- Wheat futures continued to bounce off last week’s contract lows with the support of Black Sea news. A Turkish vessel headed for Ukraine ports to load grain struck a sea mine of Romania. No one was injured and the vessel continued toward its destination. Corn prices also rallied on the Black Sea news, climbing to their highest levels in more than a month. Soybean futures were higher, in bargain buying and with the support from the wheat and corn rallies, although gains were limited by lackluster export demand, falling energy prices and signs of an ample US crop now well into its harvest. December corn futures added 11½¢ to settle at $4.97½ per bu. Chicago December wheat added 18¼¢ to close at $5.78¼ per bu. Kansas City December wheat jumped 24¢ to close at $6.90½ per bu. Minneapolis December wheat advanced 19¾¢ to close at $7.31½ per bu. November soybeans rose 7¾¢ to close at $12.80¾ per bu. October soybean meal added $4.90 to close at $373.60 per ton. October soybean oil fell 0.57¢ to close at 57.86¢ a lb.
- US equity markets spent most of the day lower, turned briefly higher, but were down again at closing bells as investors looked ahead to Friday’s report on US employment figures for September. The pre-report holding pattern was broken by a second straight decline in the yield on the benchmark 10-year US Treasury note, which ended Thursday at 4.715%, down from 4.735% on Wednesday. On Tuesday, it rose to 4.801%, its highest 3 p.m. yield since August 2007. The Dow Jones Industrial Average fell 9.98 points, or 0.03%, to close at 33,119.57. The Standard & Poor’s 500 fell 5.56 points, or 0.13%, to settle at