Latest news with #CPB
Otago Daily Times
2 days ago
- Business
- Otago Daily Times
Signing of build contract edges closer
After years of delay, the government is finally edging closer to a contract with an Australian construction giant to build the new Dunedin hospital, the ODT understands. Te Whatu Ora Health New Zealand (HNZ) is expected to send CPB Contractors a letter saying it plans to hire the firm to construct the inpatient building. Crown manager Evan Davies' role for the government requires him to negotiate a draft contract and present it to ministers for signing by mid-September. However, there are hurdles that mean the process could take longer, including getting an implementation business case through legally required Treasury approval. The re-employment of former programme director Tony Lloyd in Mr Davies' team raises the likelihood that the proposed contract will have fine print that shares at least some of any overspend risk between government and CPB, rather than HNZ paying a fixed price set in advance. Mr Davies, Mr Lloyd and senior CPB executives are known to have all favoured a shared-risk deal when discussing possible contracts three years ago. Responding on social media to a post by a CPB legal adviser about the problems of fixed-price contracts, Mr Lloyd said he "fully agreed". Fixed-price contracts are usually priced higher to protect the contractor against any rising costs but, depending on construction prices and other variables, are no guarantee that a project's costs will be contained. One independent construction expert — who did not wish to be named — said the type of contract would make little difference to the job's price compared with the cost of the lengthy delays to date. "It will be six of one and half a dozen of the other," they said. However, a shared-risk arrangement could prevent pricey legal pain down the track. CPB and the government have had various scuffles, including time in the High Court over escalating costs of a sports centre build in Christchurch. Meanwhile, the foundations of the inpatient building are likely to get under way. Health Minister Simeon Brown told the ODT that capping of the 324 piles already on the site would start soon, followed by work on the perimeter of the basement to form the base for the substructure. "The third part of the process will be installing the base isolators and then the frame of the main construction," he said. HNZ did not answer a question about the letter of intent to CPB but said that "commercial and delivery arrangements for the inpatient building are continuing to progress.'
Yahoo
3 days ago
- Business
- Yahoo
Reflecting On Shelf-Stable Food Stocks' Q1 Earnings: Campbell's (NASDAQ:CPB)
The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let's take a look at how shelf-stable food stocks fared in Q1, starting with Campbell's (NASDAQ:CPB). As America industrialized and moved away from an agricultural economy, people faced more demands on their time. Packaged foods emerged as a solution offering convenience to the evolving American family, whether it be canned goods or snacks. Today, Americans seek brands that are high in quality, reliable, and reasonably priced. Furthermore, there's a growing emphasis on health-conscious and sustainable food options. Packaged food stocks are considered resilient investments. People always need to eat, so these companies can enjoy consistent demand as long as they stay on top of changing consumer preferences. The industry spans from multinational corporations to smaller specialized firms and is subject to food safety and labeling regulations. The 21 shelf-stable food stocks we track reported a slower Q1. As a group, revenues missed analysts' consensus estimates by 0.8% while next quarter's revenue guidance was 0.5% above. Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 9% since the latest earnings results. With its iconic canned soup as its cornerstone product, Campbell's (NASDAQ:CPB) is a packaged food company with an illustrious portfolio of brands. Campbell's reported revenues of $2.48 billion, up 4.5% year on year. This print exceeded analysts' expectations by 2.1%. Overall, it was a strong quarter for the company with a solid beat of analysts' organic revenue estimates and an impressive beat of analysts' EBITDA estimates. Unsurprisingly, the stock is down 8.2% since reporting and currently trades at $31.24. Is now the time to buy Campbell's? Access our full analysis of the earnings results here, it's free. Best known for its Grown in Idaho brand, Lamb Weston (NYSE:LW) produces and distributes potato products such as frozen french fries and mashed potatoes. Lamb Weston reported revenues of $1.52 billion, up 4.3% year on year, outperforming analysts' expectations by 2.4%. The business had a very strong quarter with an impressive beat of analysts' EBITDA estimates and a solid beat of analysts' gross margin estimates. Lamb Weston scored the highest full-year guidance raise among its peers. The market seems unhappy with the results as the stock is down 2% since reporting. It currently trades at $53.03. Is now the time to buy Lamb Weston? Access our full analysis of the earnings results here, it's free. Started as a small grocery store in New York City, B&G Foods (NYSE:BGS) is an American packaged foods company with a diverse portfolio of more than 50 brands. B&G Foods reported revenues of $425.4 million, down 10.5% year on year, falling short of analysts' expectations by 6.8%. It was a disappointing quarter as it posted a significant miss of analysts' adjusted operating income estimates. B&G Foods delivered the weakest performance against analyst estimates in the group. As expected, the stock is down 32.1% since the results and currently trades at $4.29. Read our full analysis of B&G Foods's results here. Founded in 1895, Post (NYSE:POST) is a packaged food company known for its namesake breakfast cereal and healthier-for-you snacks. Post reported revenues of $1.95 billion, down 2.3% year on year. This result came in 1% below analysts' expectations. Taking a step back, it was a mixed quarter as it also produced a solid beat of analysts' EPS estimates but a miss of analysts' EBITDA estimates. The stock is down 2.8% since reporting and currently trades at $107.47. Read our full, actionable report on Post here, it's free. Tracing its roots back to 1921 when Bill and Salie Utz began making potato chips in their kitchen, Utz Brands (NYSE:UTZ) offers salty snacks such as potato chips, tortilla chips, pretzels, cheese snacks, and ready-to-eat popcorn, among others. Utz reported revenues of $352.1 million, up 1.6% year on year. This print surpassed analysts' expectations by 0.6%. It was a strong quarter as it also produced an impressive beat of analysts' EBITDA estimates. The stock is down 4.6% since reporting and currently trades at $12.69. Read our full, actionable report on Utz here, it's free. The Fed's interest rate hikes throughout 2022 and 2023 have successfully cooled post-pandemic inflation, bringing it closer to the 2% target. Inflationary pressures have eased without tipping the economy into a recession, suggesting a soft landing. This stability, paired with recent rate cuts (0.5% in September 2024 and 0.25% in November 2024), fueled a strong year for the stock market in 2024. The markets surged further after Donald Trump's presidential victory in November, with major indices reaching record highs in the days following the election. Still, questions remain about the direction of economic policy, as potential tariffs and corporate tax changes add uncertainty for 2025. Want to invest in winners with rock-solid fundamentals? Check out our 9 Best Market-Beating Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate. 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
Is Campbell's Stock Underperforming the S&P 500?
Valued at a market cap of $9.5 billion, The Campbell's Company (CPB) is a leading food and beverage manufacturer. Operating through its Meals & Beverages and Snacks segments, the company offers a wide portfolio of iconic brands including Campbell's, Goldfish, Rao's, Prego, Pepperidge Farm, and V8. Companies valued at less than $10 billion are generally considered 'mid-cap' stocks, and Campbell's Company fits this criterion perfectly. With a presence in the United States, Canada, and Latin America, its products are distributed through retail chains, convenience and club stores, drug and dollar stores, as well as e-commerce platforms. The Next Trillion-Dollar Boom? 3 Stocks to Buy with 300 Million Humanoid Robots on the Horizon. Meta's Mark Zuckerberg Says the Technology They're Developing Will 'See What You See and Hear What You Hear' Warren Buffett's Berkshire Hathaway Now Pays 5% of All Corporate Income Taxes in America Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! Shares of the Camden, New Jersey-based company have pulled back 39.4% from its 52-week high of $52.81. CPB stock has dipped 15.9% over the past three months, lagging behind the broader S&P 500 Index's ($SPX) 6.3% rise over the same time frame. In the longer term, Campbell's shares are down 23.6% on a YTD basis, underperforming SPX's 2.4% gain. Moreover, shares of CPB have dropped 28.1% over the past 52 weeks, compared to SPX's 10.3% return over the same time frame. Despite a few fluctuations, the stock has been trading below its 50-day moving average since October last year. In addition, it has fallen below its 200-day moving average since November last year. Shares of Campbell's recovered marginally on Jun. 2 due to better-than-expected Q3 2025 adjusted EPS of $0.73 and revenue of $2.5 billion. Strong 6% organic net sales growth in the Meals & Beverages segment and significant household penetration gains, particularly 1 million new households in condensed cooking soups, helped offset softness in the Snacks segment. Additionally, management's reaffirmation of full-year guidance, realization of $110 million in cost savings, and effective tariff mitigation ($0.03–$0.05 EPS headwind) also supported investor sentiment. However, CPB stock has lagged behind its rival, Kellanova (K). Kellanova stock has decreased 2.9% on a YTD basis and soared 36.8% over the past 52 weeks. Due to the stock's weak performance, analysts remain cautious about its prospects. The stock has a consensus rating of 'Hold' from the 19 analysts covering the stock, and as of writing, it is trading below the mean price target of $36.53. On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on 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
Otago Daily Times
7 days ago
- Business
- Otago Daily Times
Hospital stall due to contract
The government bungled the opportunity to crack on with the new Dunedin hospital's in-patient building last year by blowing up contract negotiations in sight of the finish line, sources say. It is understood a type of shared-risk deal was previously being nutted out with global construction giant CPB, meaning any overspend above a threshold would be shouldered by both government and CPB. Contract signing with Health New Zealand Te Whatu Ora (HNZ) was close but, sources say, negotiations stalled around the time government ministers came to Dunedin in September, announcing there had been a blow-out of the hospital's $1.88 billion budget. A fixed-price deal was then sought from CPB. It was the type of deal government had originally hoped to achieve when the project was conceived seven years ago and prices were lower and fluctuated less. The flip-flopping was condemned by former Labour health minister and hospital campaigner Pete Hodgson. Mr Hodgson said it risked CPB now walking away from the deal — with the government having no guarantee of a cheaper deal with another contractor — causing further delays. "The government would have to re-engage the market with the reputation of being a risky client, always changing its mind ... and if CPB can't pull it together with their array of subcontractors, it seems unlikely anyone else would be able to." CPB, which has many contracts overseas and consistently declines to comment about the Dunedin hospital negotiations, had agreed in 2021 to an Early Contractor Engagement (ECE) contract to plan the inpatient build. There was an expectation it would then be contracted , with work starting in 2023 — but two years on, it still has not happened. CPB has successfully built a hospital in Christchurch, but it has not always had cordial relations with the government — two CPB government-commissioned construction projects have resulted in legal wrangles. Multiple sources have told the Otago Daily Times that a shared-risk contract for the Dunedin hospital build had been discussed with CPB for years. Construction experts, engaged by government to help seal the deal, had advised that a shared-risk contract would likely prove the cheapest, and deliver the best build outcomes, through a collaborative client-contractor relationship. It is understood that the experts included Evan Davies, Todd Corporation boss, who led a new Dunedin hospital governance committee from December 2020 until mid-2023 and who was last week brought back by Health Minister Simeon Brown to lead the build project as Crown Manager. According to sources, CPB wanted a shared-risk contract and its senior managers have also stated, in public forums, fixed-price contracts can be inappropriate for large, complex builds due to pricing variables. A shared-risk contract means the contractor does not need to charge a premium to cover its risk exposure and the public purse benefits from any cost savings achieved, possibly countering any over-spend. After the last election, construction expert Robert Rust was commissioned to review the project. His report, published in May last year, pointed some blame for the project's delays at poor governance and explained that a "target total cost" model was being proposed. The model would provide a "threshold for any potential pain or gain sharing". In January this year, two months after the project's latest programme director left, and four months after former health minister Dr Shane Reti and Infrastructure Minister Chris Bishop came to Dunedin with their budget blow-out announcement and pressed pause on the build, Mr Brown said it would go ahead within budget and with cutbacks. It is unknown if the cutbacks were due to concerns about being saddled with a premium-laden fixed price above budget. No timescales for the build have been announced by HNZ but Mr Davies' role as Crown Manager requires him to seal a contract within three months.
Time Business News
20-06-2025
- Business
- Time Business News
How to Find a Bookkeeping Company in Toronto: A Step-by-Step Guide
Whether you're a small business owner, a freelancer, or running a growing startup, having reliable bookkeeping services is crucial to managing your finances effectively. In a vibrant and competitive city like Toronto, the options for bookkeeping companies are vast—ranging from large firms to boutique providers and even virtual bookkeepers. But how do you choose the right one for your needs? Here's a practical guide to help you navigate the process of finding a trustworthy Toronto bookkeeper. Before reaching out to any firms, it's important to know what kind of services you require. Bookkeeping isn't just about recording expenses and revenues—it can also include payroll processing, GST/HST filings, bank reconciliations, invoicing, and preparing financial statements. Are you looking for full-service bookkeeping or just help with monthly reconciliations? Do you need industry-specific knowledge, such as for retail, hospitality, or real estate? Knowing your specific needs will help you narrow down your options. Toronto offers both in-person and virtual bookkeeping services. Some businesses prefer face-to-face meetings with a local bookkeeper, especially when dealing with sensitive financial information. Others are comfortable with cloud-based platforms like QuickBooks Online or Xero, and prefer virtual services that offer flexibility and often lower costs. Decide what works best for your comfort level and workflow. Ensure the company or individual you choose has the proper certifications. Look for credentials such as Certified Professional Bookkeeper (CPB) or affiliation with recognized organizations like the Canadian Bookkeepers Association (CBA) or the Institute of Professional Bookkeepers of Canada (IPBC). Certified professionals adhere to ethical standards and continuing education requirements, which means your books are in experienced hands. Word-of-mouth remains one of the most powerful tools when searching for reliable service providers. Ask fellow business owners, accountants, or your local chamber of commerce if they can recommend a reputable bookkeeper in Toronto. Additionally, online reviews on Google, Yelp, or Clutch can provide insights into customer satisfaction, responsiveness, and professionalism. Modern bookkeeping relies heavily on cloud software, automation tools, and integration with apps like Shopify, Stripe, or payroll systems like Wagepoint or ADP. A forward-thinking bookkeeping company will be proficient in these tools and help you streamline your financial processes. Ask potential providers about the software they use and whether they can work with your existing systems. Treat this like hiring a team member. Reach out to at least three bookkeeping companies and conduct brief interviews. Ask about their experience, the size and scope of clients they typically work with, their pricing models, and how they handle data security. This will help you compare and find the best fit for your business culture and budget. Bookkeeping companies in Toronto may charge hourly rates, flat monthly fees, or packages based on your transaction volume. Make sure you understand their pricing structure and what's included. Be wary of providers with unusually low rates—quality bookkeeping requires time and expertise, and cutting corners may cost you more in the long run. Once you've chosen a bookkeeping company, ask for a service agreement that outlines their responsibilities, timelines, confidentiality terms, and how communication will be handled. Some firms may offer a trial period or discounted introductory rate, which gives you a chance to evaluate their service before making a long-term commitment. Finding the right bookkeeping company in Toronto may take a little time, but it's a decision that can significantly impact your financial health and business success. By understanding your needs, doing due diligence, and communicating clearly with potential providers, you'll be well on your way to forming a professional relationship that supports your growth and peace of mind. TIME BUSINESS NEWS
