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The Latest Breaking News from Supply chain

Lightning eMotors Clocks 18% Revenue Growth In Q1

Lightning eMotors Inc (NYSE:ZEV) reported first-quarter revenue growth of 18% year-over-year to $5.4 million, missing the consensus of $5.53 million. The gross loss expanded to $(2.31) million, compared to $(0.727) million a year ago. EPS loss narrowed to $(0.14) from $(0.83) in 1Q21. Adjusted net loss was $(18.7) million, compared to $(6.8) million…

Benzinga

Why FIGS Shares Are Trading Lower Today

FIGS Inc (NYSE:FIGS) reported first-quarter FY22 sales growth of 26.4% year-on-year, to $110.10 million, missing the consensus of $116.92 million. Active customers grew 31.1% to 2 million, and the average order value increased 16% to $116. The gross margin contracted by 40 basis points to 71.2%, driven by higher air freight spending and…

Benzinga

Iran Arrests at Least 22 Protesting Staple Food Price Hikes

Iranian authorities have arrested at least 22 demonstrators who had been protesting sudden price hikes of subsidized staple foods in two southern cities, state media reported early Friday. The arrests follow Iran's announcement this week that the cost of cooking oil, chicken, eggs and milk would rise by as much…

Asharq Al-Awsat

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Technology Is Key To Weathering The Inflation Storm

By Martin Kotula

Benzinga

Billion-dollar infrastructure budget blowout highlights impact of labour, supplies shortages

While much has been made of the effects rising costs and labour shortages are having on housing construction in Perth, the state budget lays bare the impact on the state's finances — and it's a billion-dollar problem.

ABC News

Holley Tops Q1 Amid Supply Chain Disruptions, Inflationary Headwinds

Holley Inc (NYSE:HLLY) reported first-quarter FY22 sales growth of 24.8% year-on-year, to $200.1 million, beating the consensus of $189.97 million. The gross profit increased 25.9% Y/Y to $82.7 million, with the margin expanding 30 basis points to 41.3%. Selling, general and administrative expenses increased 43% to $34.3 million. The operating margin was 18%,…

Benzinga

Apple iPhone Manufacturer Foxconn Warns Of Cooling Smartphone Demand

Apple manufacturing partner Foxconn warned of cooling smartphone demand and supply chain challenges that the company is facing in China.

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Better Choice Clocks 57% Revenue Growth In Q1; Plans Buyback

Better Choice Company Inc (NYSE:BTTR) reported first-quarter FY22 sales growth of 57% year-on-year, to $17 million, beating the consensus of $15.24 million. The gross profit increased 10.1% Y/Y to $4.7 million with a profit margin of 27.7%. Operating expenses declined 7.9% to $8.7 million. The operating loss narrowed to $(3.96) million versus a…

Benzinga

Texhong Eyes Vietnam in World of Diversifying Supply Chains

Key Takeaways: Texhong is preparing to launch a major facility in Vietnam that will sharply boost its fabric production to complement its larger cotton yarn business Company now manufactures nearly 40% of its output in the Southeast Asian nation and is one of the biggest U.S. cotton buyers in the…

Benzinga

Biden to speak to baby formula manufacturers about shortage

President Joe Biden plans to speak on Thursday with baby formula manufacturers and retailers about the plight of families struggling to find formula due to supply chain disruptions and a safety recall

The Independent UK

Read How Himax Technologies Fared In Q1

Himax Technologies, Inc (NASDAQ:HIMX) reported first-quarter FY22 revenue growth of 33.6% year-on-year to $412.8 million. Net revenues declined 8.6% sequentially. Revenue from large display drivers grew 60% Y/Y to $110.6 million. Monitor and notebook IC sales decreased sequentially on the backdrop of slowing end market sell-through. TV revenue was flat sequentially, anchored by…

Benzinga

Baby formula shortage leaves parents scrambling nationwide

A combination of product recalls, rising prices and supply chain issues have particularly affected the availability of formula

The Independent UK

Rivian Announces Q1 2022 Results, Posts $1.6 Billion Net Loss

The company built 2,553 vehicles in the first quarter and says it maintains its 2022 production target of 25,000 units despite supply chain disruptions.

InsideEVs

Rivian Q1 Earnings Highlights: 2,553 Vehicles Produced, 1,227 Delivered, Supply Chain Constraints And More

Electric vehicle company Rivian Automotive Inc (NASDAQ: RIVN) reported its first quarter financial results after market close Wednesday. Here are the key highlights.

Benzinga

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Benzinga

Raymond James Says 'Supply Chain Challenges Made Q1 Messy' For This Medtech Stock

ICU Medical Inc (NASDAQ:ICUI) reported Q1 sales of $543.1 million vs. Raymond James' estimate of $530 million. Core ICU beat by $7 million, while newly acquired Smiths Medical missed by $5 million. With an Outperform rating, the analysts lowered the price target from $265 to $235. Adjusted EPS was $1.82, down from Raymond James' estimate…

Newsroom.co.nz

The critical importance of improving supply chain resilience

Restaurants are certified on food safety, hotels are graded and financial institutions stress tested, so why, asks Dr David Robb, don’t we require resilience in supply chain entities?

Benzinga

Tesla Urges Panasonic To Fast-Track Development Of Next-Gen Batteries

Tesla, Inc (NASDAQ:TSLA) urged Panasonic Holdings Corporation (OTC:PCRFY) to speed up the development of its next-generation 4680 batteries, Bloomberg reports as per Panasonic CFO Hirokazu Umeda. Umeda disclosed ongoing robust demand for batteries at a post-results briefing, including the 2170 cells it supplies for Tesla’s electric vehicles. Umeda said, “We seeing continued strong demand from…

Benzinga

WiSA Shares Drop On 50% Revenue Decline In Q1; Margin Shrinks

WiSA Technologies, Inc (NASDAQ:WISA) reported a first-quarter FY22 revenue decline of 50% year-on-year to $0.6 million, missing the consensus of $1.38 million. The gross margin contracted 1,500 bps Y/Y to 11%, impacted by lower sales volumes. WiSA held $9.1 million in cash and equivalents. "As we communicated in our Q4 2021 announcement, Q1…

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France 24

‘Hurt, angry, anxious, scared’: Converging crises lead to US baby formula shortage

Along with much of the globe, US consumers are reeling from a cost of living and supply-chain crisis. One example is a shortage of baby formula caused by a constellation of factors, from rampant inflation to a massive recall over safety concerns.

Axios

Why you should care about falling lumber prices

Lumber is the poster child for the wild inflation and supply chain ride of the past year or so

The Independent UK

US casinos had best month ever in March, winning $5.3B

Inflation may be soaring, supply chains are snarled and the coronavirus just won’t go away

The Independent UK

KFC and UK supermarkets’ chicken ‘hide indigenous rights abuses in Brazil’

Exclusive: Chicken supply chains depend on land from which native people have been forcibly evicted, claims report

Evening Standard

Elon Musk hints Tesla may stop taking orders as supply chain problems bite

Inflation and supply chain issues continue to hit carmakers, with Toyota and Tesla both sounding the alarm.

Asharq Al-Awsat

IEA: Renewable Energy to Grow to New Record in 2022

The world will set a new record for renewable power capacity this year led by solar energy in China and Europe, but growth could lose steam in 2023, the International Energy Agency said Wednesday. A record 295 gigawatts of new renewable power capacity was added in 2021 despite supply chain…

Axios

FDA says it is "doing everything in our power" to improve baby formula supply

The shortage has intensified in recent weeks due to supply chain issues and a devastating recall.

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