Latest news for RLH Properties (OTC:RLHPF) Stock

RLH Properties SAB de CV is an asset management holding company. The company through its subsidiaries acquires, develops and manages city & beach, hotels & resorts in Mexico and the Caribbean, through the development of new hotels and the selective acquisition of operating hotels.

RLH Properties SAB de CV

A new YouTube series, High Science, is set to debut on Nov. 27, offering viewers an unfiltered look into <a href="https://www.benzinga.com/cannabis">the world of cannabis. </a>
Hosted by Rich Batenburg Jr. and Rick Batenburg III, — a father and son entrepreneurial team who serve as chief executive officer and secretary of the board, respectively, of Clear Cannabis Inc.&nbsp;— the eight-episode show promises to explore the plant's potential as both an innovative industry and a powerful medicinal tool.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="High Science&#xAE; &#x7C; Official Season One Sizzle Reel" width="500" height="281" src="https://www.youtube.com/embed/bAkLBaAONLA?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
<h3 class="wp-block-heading">A Bold Vision Born From Personal Experience</h3>
<a href="https://www.phoenixnewtimes.com/marijuana/scottsdale-based-high-science-show-explores-world-legal-weed-20631800">According</a> to Phoenix New Times, the concept for the show originated from an unlikely source: Scottsdale-based event promoter Ed Leclere. After undergoing brain surgery in 2018, Leclere credited cannabis for helping him manage his condition, sparking an idea to combine education and entertainment in a series exploring cannabis innovation.
See Also: <a href="https://www.benzinga.com/government/regulations/24/11/42173811/hemp-and-thanksgiving-from-the-mayflower-to-independence-the-crop-that-helped-build-a-nation">Hemp And Thanksgiving: From The Mayflower To Independence, The Crop That Helped Build A Nation</a>
"When they finally did the surgery, they said it was more cyst-like than tumor. So I believe the cannabis was helping to break it down, even though the neurosurgeon didn't think so," Leclere said. "The doctors and Big Pharma don't believe anything other than what they prescribe."
Leclere's idea gained momentum when he teamed up with David McKillop, a two-time Emmy winner known for creating hit reality series like Duck Dynasty and Pawn Stars. McKillop joined the project as president and creative director, impressed by the vision of retaining full ownership of the show's intellectual property.
<h3 class="wp-block-heading">Cannabis Innovation On A Global Stage</h3>
High Science takes viewers on a journey through the cannabis industry, showcasing innovators and trailblazers from around the globe. The show highlights leaders like Moe Asnani and Chip Boyden of Arizona-based wholesaler iLAVA, as well as Yuri Downing, a cannabis entrepreneur who helped shape Arizona's licensing landscape.
Beyond Arizona, the series ventures to Massachusetts, Jamaica, and Australia, introducing viewers to legends like Jon Piasecki and Johnny GreenFingaz. Leclere refers to these individuals as "OGs" who have shaped the cannabis space for decades.
<h3 class="wp-block-heading">Why YouTube Became The Home For ‘High Science'</h3>
Bringing High Science to a<a href="https://www.benzinga.com/markets/cannabis/23/05/32457197/cannabis-x-cannabis-the-new-documentary-series-unveiling-the-impact-of-cannabis-in-latin-america"> mainstream audience</a> came with its own set of challenges. Leclere and McKillop discovered that traditional networks were hesitant to air content focusing directly on cannabis due to its federal illegality in the United States. Many networks wanted to pivot the concept into more generalized business ventures, which clashed with the creators' vision of authenticity.
"YouTube allowed us to maintain creative freedom," Leclere explained. 
<h3 class="wp-block-heading">Advocating For Plant-Based Medicine</h3>
At the heart of High Science lies a deeper mission: promoting cannabis as a legitimate plant-based medicine. Over the years, the plant's benefits have been embraced by those seeking relief for conditions like PTSD, epilepsy, anxiety, and chronic pain. Many of the show's featured personalities have long advocated for cannabis, even during its prohibition.
"These guys believe in this plant and have spent so many years in the underground, that when it finally started going legal, they came out of the dark into the light," Lecrere said.
In addition to the series, Leclere has launched the High Science Charity Foundation, which aims to support plant-based research and education, with a particular focus on underserved communities and veterans. Looking ahead, Leclere is considering expanding the series into the realm of psychedelic medicine for a potential second season.
"Plant-based therapy and clinical studies in plant-based medicine is the way to go," he continued. "And Big Pharma can't do nothing about it."
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/restaurants/24/11/42178126/1000-free-turkeys-donated-by-michigan-dispensary-cannabis-infused-thanksgiving-feasts-in-arizona">1,000 Free Turkeys Donated By Michigan Dispensary, Cannabis-Infused Thanksgiving Feasts In Arizona</a></li>
</ul>
Image courtesy: High Science.

Cannabis

Entertainment

Markets

General

YouTube's High Science Is A Must-Watch For Cannabis Enthusiasts

Backwell will continue in his current role as Chief Executive Officer of QIND. &nbsp;Gavin Jones continues as the Company's Chief Financial Officer.
The Company has also announced that the hearing to appeal the delisting of its securities from Nasdaq has been scheduled for January 7, 2025. Management is confident that following the close of this transaction and the consolidation of financials, Fusion Fuel will meet the stockholder equity requirements for continued listing.
 &nbsp;

News

Management

HTOO

Fusion Fuel Green Completes QIND Acquisition; Names John-Paul Backwell As CEO; Frederico Figueira de Chaves, Formerly CEO, To Transition To Role Of Chief Strategy Officer And Head Of Hydrogen Solutions

DXYZ

Destiny Tech100 Reports Q3 Net Asset Value Of $5.32 Per Share Of Common Stock, An Increase From $5.15 At The End Of Q2

Maximus Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMS#NYSE">MMS</a>) shares are volatile in extended trading Tuesday after the company announced the cancellation of a <a href="https://www.benzinga.com/pressreleases/24/11/b42201228/u-s-department-of-health-and-human-services-centers-for-medicare-and-medicaid-services-notify-maxi">contact center operations contract</a>.
What Happened: After the market close on Tuesday, Maximus said it received notification from the U.S. Department of Health and Human Services, Centers for Medicare and Medicaid Services (CMS) that the federal agency has canceled the Contact Center Operations (CCO) 1-800-MEDICARE and Federal Marketplace solicitation.
The company said the contract covered the same scope of work Maximus currently performs under separate contracts through option periods available until 2031.
&#8220;Maximus employees have consistently demonstrated their ability to successfully manage this critical program providing essential support to more than 75 million eligible Americans who rely on Medicare and the Federal Marketplace,&#8221; said Bruce Caswell, president and CEO of Maximus.
&#8220;We appreciate the opportunity to continue supporting HHS and CMS in their vital missions and look forward to delivering innovative, high-quality, and reliable solutions that benefit the American public.&#8221;
Maximus helps improve the delivery of public services&nbsp;as a strategic partner to governments around the world.
MMS Price Action: Maximus shares were volatile at the start of the after-hours session, but were trading approximately flat by the time of publication Tuesday at $73, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Read Next:
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<li><a href="https://www.benzinga.com/news/earnings/24/11/42202858/workday-stock-slides-after-q3-results-beat-expectations-fy-subscription-revenue-guidance-revised-lower">Workday Stock Slides After Q3 Results Beat Expectations, FY Subscription Revenue Guidance Revised Lower</a></li>
</ul>
Photo: Shutterstock.

Government

Health Care

After-Hours Center

Movers

Maximus Stock Bounces Around After Hours Tuesday: What's Going On?

Kentucky took a significant step in its medical cannabis program on Monday, awarding the first 36 dispensary licenses through a randomized lottery system. Governor Andy Beshear announced the winners, emphasizing the program's fairness and focus on providing safe and affordable access to medical cannabis for patients with chronic illnesses like cancer and PTSD.
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can't afford to miss out if you&#8217;re serious about the business.</li>
</ul>
<h3 class="wp-block-heading">Regional Allocation And Next Steps</h3>
The licenses were distributed across nine of <a href="https://www.benzinga.com/topic/kentucky-cannabis">Kentucky</a>'s 11 designated regions, ensuring geographic spread and reducing travel times for patients. Each region received four licenses, with businesses selected using a random number generator. Winners have 15 days to pay a $30,000 licensing fee or forfeit their license. Additional lotteries for the Lexington and Louisville metropolitan areas will occur on December 16.
Read Also: <a href="https://www.benzinga.com/general/health-care/24/11/41843261/kentucky-gov-beshear-the-jury-is-no-longer-out-kentuckians-want-medical-cannabis">Kentucky Gov. Beshear: &#8216;The Jury Is No Longer Out,&#8217; Kentuckians Want Medical Cannabis</a>
<h3 class="wp-block-heading">Application Surge And Market Stability</h3>
The Kentucky Office of Medical Cannabis received nearly 5,000 applications, with 4,075 specifically for dispensaries. This overwhelming interest reflects the market&#8217;s potential. Executive director Sam Flynn highlighted efforts to avoid over saturation, drawing lessons from Kentucky's hemp industry collapse.
Beshear reiterated the program&#8217;s goal of <a href="https://www.lpm.org/news/2024-11-25/beshear-announces-first-ky-cannabis-dispensary-license-winners-defends-lottery-process">starting small to ensure market stability</a>, with room to expand as demand grows.
<h3 class="wp-block-heading">Concerns About Out-Of-State Influence</h3>
Criticism has emerged over potential out-of-state dominance in the licensing process. Companies linked to multiple winning applications, have raised questions about fairness. Beshear defended the process, noting that each winning business must incorporate and operate within <a href="https://www.benzinga.com/topic/kentucky-cannabis">Kentucky</a>.
Medical cannabis certification for qualifying patients begins December 1, along with an online directory of licensed practitioners. While there is no set timeline for dispensary openings, Beshear assured that businesses have strong incentives to launch quickly, aiming to provide in-state access by January 1, 2025.
Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/10/41608654/kentucky-and-delaware-held-cannabis-licensing-lotteries-ushering-in-new-regulated-markets">Kentucky And Delaware Held Cannabis Licensing Lotteries, Ushering In New Regulated Markets</a>

Regulations

Legal

Kentucky Awards First Medical Cannabis Dispensary Licenses

The Company said it is well-positioned to capitalize on the increasing demand for its healthcare solutions and to continue driving value for stakeholders.

Guidance

SYRA

Syra Health Plans To Present At NobleCon20; Says Its Financial Outlook Is Robust, With Strong Revenue Growth And An Expanding Market Presence

Berlin&#8217;s Senator for Justice Felor Badenberg recently criticized Germany's cannabis law. According to Badenberg, contrary to the objectives of the law, legalization actually made the fight against the black market and organized crime more difficult, <a target="_blank" href="https://www.zeit.de/news/2024-11/26/berliner-justizsenatorin-cannabis-gesetz-aufheben" rel="noreferrer noopener">writes</a> Zeit online, according to translation.
"What was touted by the federal government as a milestone in drug policy has proven in practice to be a serious mistake that will cause long-term damage to our country," the CDU politician told the German Press Agency. "It has to be repealed."
On Thursday, Nov. 28th, a conference of justice ministers of the federal states will be held and experiences with the cannabis law will be discussed.
Partial cannabis legalization <a target="_blank" href="https://www.benzinga.com/markets/cannabis/24/04/38023610/heres-what-you-need-to-know-about-weed-legalization-in-germany-that-just-took-effect" rel="noreferrer noopener">took effect in Germany on April 1</a>, making it the third country in the European Union to legalize adult-use cannabis after <a target="_blank" href="https://www.benzinga.com/markets/cannabis/21/12/24601584/maltas-parliament-says-yes-to-cannabis-legalization-becoming-first-in-europe-to-legalize-weed" rel="noreferrer noopener">Malta and</a> <a target="_blank" href="https://www.benzinga.com/markets/cannabis/23/06/33063370/another-eu-country-legalizes-weed-top-gov-official-calls-cannabis-criminalization-a-failure" rel="noreferrer noopener">Luxembourg</a>. Under this first pillar of cannabis legalization, adults over 18 can legally possess up to 25 grams of dried cannabis flower and cultivate up to three marijuana plants at home. One of the biggest breakthroughs under the law is that medical cannabis is essentially <a target="_blank" href="https://www.benzinga.com/markets/cannabis/24/07/39830117/medical-marijuana-regulated-as-ibuprofen-is-one-of-the-biggest-breakthroughs-of-germanys-cannabi" rel="noreferrer noopener">regulated like ibuprofen.</a>
However, Berlin's proposed resolution argues that the law has caused troubles in effort to deal with the illegal market and organized criminal activities, especially in the commercial trade in cannabis products. The issues lies in the fact that the law change disabled telephone surveillance, online searches in its usual extent. This means that not all the evidence are allowed to be used in criminal proceedings.&nbsp;&nbsp;
Read Also: <a target="_blank" href="https://www.benzinga.com/government/regulations/24/11/41885393/germanys-govt-coalition-crisis-is-cannabis-reform-at-risk" rel="noreferrer noopener">Germany&#8217;s Govt. Coalition Crisis, Is Cannabis Reform At Risk?</a>
Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a target="_blank" href="https://newsletteremail.benzinga.com/subscribe" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.
<h2 class="wp-block-heading">Drug Dealers As Beneficiaries Of The Law</h2>
One specific case that <a target="_blank" href="https://www.benzinga.com/markets/cannabis/24/09/40697724/weed-smuggler-among-few-freed-under-germanys-new-cannabis-law" rel="noreferrer noopener">recently made headlines</a>, involves a 36-year-old man who smuggled 450 kilograms (992.08 lbs) of cannabis into Germany, estimated to be worth 1.9 million euros ($2.1 million). The controversy arises from the new law, which doesn&#8217;t consider cannabis-related crimes as serious crimes and therefore the prosecutors can&#8217;t use encrypted chats from the provider Encrochat as evidence. The man was released, prompting Baden-Württemberg's Minister of Justice, Marion Gentges (CDU), to say, "Drug dealers are beneficiaries of this law.&#8221;
The case was before the Mannheim Regional Court, but the court's judgment is not yet legally binding, writes the outlet. However it is raising questions among the judiciary nationwide, and cannabis opponents are using it as an argument against the reform.
The German government is working on the second pillar of its cannabis legalization law –setting up municipal five-year pilot programs for state-controlled marijuana to be sold in licensed shops. Moreover, it was recently confirmed that <a href="https://www.benzinga.com/markets/cannabis/24/10/41662047/frankfurt-and-hannover-prepare-for-cannabis-sales-study-amid-health-alarms-over-black-market-con" target="_blank" rel="noreferrer noopener">recreational cannabis sales will launch in Hannover and Frankfurt</a> next year under a pilot program set to last five years.
Read Next:
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<li><a href="https://www.benzinga.com/general/market-summary/24/11/42126680/german-cannabis-20-tons-10m-grams-and-thats-only-0-3-of-the-market-whats-missing" target="_blank" rel="noreferrer noopener">German Cannabis: 20 Tons, 10M Grams &#8211; And That&#8217;s Only 0.3% Of The Market, What&#8217;s Missing?</a></li>
<li><a href="https://www.benzinga.com/markets/cannabis/24/11/42069381/european-leaders-meet-in-berlin-to-discuss-cannabis-policies" target="_blank" rel="noreferrer noopener">European Leaders Meet In Berlin To Discuss Cannabis Policies</a></li>
</ul>
Photo: Courtesy of Plateresca via Shutterstock

Eurozone

Berlin's Justice Senator Says Cannabis Law Benefits Mafia-Like Structures And It Should Be Repealed

fter the closing of the Transaction, Gran Tierra would retain 50 percent working interest in the Assets.&nbsp;

Asset Sales

Gran Tierra Energy Enters Agreement, Under Which Logan Energy Would Acquire 50% And Operatorship Of Portion Of Simonette Montney Assets For C$52M In Cash

Gran Tierra Energy Says Milestone Achieved In Ecuador With Seventh Successful Oil Discovery Further Confirming Significant Potential Of  Arawana / Zabaleta Field Area

The November 20, 2024 letter was sent as a result of the Company's delay in filing its Quarterly Report on Form 10-Q for the three month period ended September 30, 2024.
Gundumogula will continue to serve as a director and chairman of the Company's Board.
On November 21, 2024, the Board appointed Jesus Portillo as CEO and a member of the Board, effective as of November 25, 2024. Portillo will retain his current duties and responsibilities as Chief Financial Officer of the Company.

MOND

Mondee Holdings Gets Nasdaq Non-Compliance Letter; Says Prasad Gundumogula Informed Board On Taking Leave Of Absence As CEO, Effective As Of November 25; Jesus Portillo Named As CEO

The Company regrets the continued delays in its quarterly filings, which have been impacted by a confluence of significant events and transactions completed in 2024.&nbsp;
The Company is working diligently to file the Quarterly Reports for both the second and third quarters as promptly as practical, and expects to return to a normal filing cadence in 2025.

RILY

B. Riley Financial Expects To Return To Normal Filing Cadence In 2025; Reveals Notification Of Additional Delinquency With Nasdaq For Late Filing Of Form 10-Q For Period Ended September 30, 2024

HP Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPQ#NYSE">HPQ</a>) reported its fourth-quarter results after Tuesday's closing bell. Here's a look at the key figures <a href="https://www.benzinga.com/pressreleases/24/11/g42201260/hp-inc-reports-fiscal-2024-full-year-and-fourth-quarter-results">from the quarter.&nbsp;</a>
The Details:&nbsp;HP reported quarterly earnings of 93 cents per share, in line with the analyst consensus estimate. Quarterly revenue came in $14.05 billion, which beat the analyst consensus estimate of $13.99 billion and is an increase over sales of $13.82 billion from the same period last year.
<ul>
<li>HP&#8217;s net cash provided by operating activities in the fourth quarter of fiscal 2024 was $1.6 billion. </li>
<li>Accounts receivable ended the quarter at $5.1 billion, up two days quarter over quarter at 33 days.</li>
<li>Inventory ended the quarter at $7.7 billion, down four days quarter over quarter to 63 days.</li>
<li>Accounts payable ended the quarter at $16.9 billion, up seven days quarter over quarter to 138 days.</li>
<li>HP generated $1.5 billion of free cash flow in the fourth quarter.</li>
</ul>
HP also raised its annual dividend by 5%, boosting its quarterly cash dividend from $0.2756 to $0.2894 per share. 
Read Next: <a href="https://www.benzinga.com/trading-ideas/movers/24/11/41949068/bitcoin-could-reach-1-million-by-2037-economist-says-buy-of-a-lifetime-opportunity">Bitcoin Could Reach $1 Million By 2037, Economist Says: &#8216;Buy Of A Lifetime&#8217; Opportunity</a>
&#8220;We are pleased with our Q4 performance where we saw revenue growth for the second consecutive quarter, driven by steady progress in Personal Systems and Print,&#8221; said Enrique Lores, HP president and CEO.
&#8220;With momentum heading into FY25, we are well-positioned to capitalize on the commercial opportunity and lead the future of work,&#8221; Lores added. 
Outlook:&nbsp;HP expects first-quarter adjusted earnings of between 70 cents and 76 cents per share, versus the 85 cent estimate, and fiscal 2025 earnings of between $3.45 and $3.75 per share, versus the $3.60 estimate. 
HPQ Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, HP shares are down 7.93% after-hours at $36 at the time of publication Tuesday.&nbsp;
Read More:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/11/42203124/ambarella-stock-soars-in-after-hours-trading-tuesday-whats-going-on">Ambarella Stock Soars In After-Hours Trading Tuesday: What&#8217;s Going On?</a></li>
</ul>
Photo: Shutterstock

Earnings

Tech

HP Stock Drops After Q4 Results, Weak Forward Guidance: Details

SANW

S&W Seed Expects High End Of Range To Be At Adjusted EBITDA Breakeven For The Rest Of FY25

Ambarella Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMBA#NASDAQ">AMBA</a>) shares are soaring in Tuesday&#8217;s after-hours session on the heels of the company&#8217;s third-quarter financial results. Here&#8217;s a look at the key <a href="https://www.benzinga.com/pressreleases/24/11/g42200722/ambarella-inc-announces-third-quarter-fiscal-year-2025-financial-results">highlights from the quarter</a>.
What Happened: Ambarella reported third-quarter revenue of $82.65 million, beating analyst estimates of $79.03 million, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>. The company reported third-quarter adjusted earnings of 11 cents per share, beating estimates of four cents per share.
&#8220;Company-specific factors are more than offsetting broad market weakness, and we are reporting 30% sequential revenue growth in fiscal Q3, above the high-end of our guidance range, with strength led again by our customers&#8217; new products, especially those incorporating our higher priced AI inference processors,&#8221; said Fermi Wang, president and CEO of Ambarella.
&#8220;Edge AI revenue represented about&nbsp;70%&nbsp;of our total revenue, establishing a new record level, and this momentum is expected to enable growth in both our IoT and Auto markets in F2025 and F2026.&#8221;
Ambarella ended the quarter with $226.5 million in cash, cash equivalents and marketable debt securities, up from $222.3 million at the end of the prior year&#8217;s quarter.
See Also: <a href="https://www.benzinga.com/news/earnings/24/11/42201885/dell-technologies-shares-drop-after-q3-revenue-misses-estimates-details">Dell Technologies Shares Drop After Q3 Revenue Misses Estimates: Details</a>
What&#8217;s Next: Ambarella expects fourth-quarter revenue to be between $76 million and $80 million. Fourth-quarter gross margin is expected to be between 61.5% and 63%, and operating expenses are expected to range between $49 million to $52 million.
&#8220;With the anticipated revenue growth, we intend to drive positive operating leverage and build upon our 15 consecutive fiscal years of positive free-cash-flow,&#8221; Ambarella&#8217;s CEO added.
AMBA Price Action: Ambarella shares were up 22.42% in extended trading at $83.75 at the time of publication Tuesday, per <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: Shutterstock.

AMBA

Ambarella Stock Soars In After-Hours Trading Tuesday: What's Going On?

S&W Files Q1 2025 10-Q; Says Financial Results Filed Are In Line With Preliminary Financial Results Previously Released

The parties anticipate closing the transaction on December 2, 2024. Upon completion of the transaction, New TechTarget's shares of common stock are expected trade on Nasdaq under the stock ticker symbol "TTGT".
 &nbsp;

TTGT

TechTarget Shareholders Approve Previously Announced Transaction For Combination With Informa Tech's Digital Businesses

A scathing Senate report released on Tuesday has criticized major U.S. airlines for profiting billions from seat selection fees, raising questions about transparency <a href="https://www.benzinga.com/topic/airlines">and consumer fairness. </a>
The Permanent Subcommittee on Investigations revealed that from 2018 to 2023, carriers like American Airlines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>), Delta Air Lines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>), and United Airlines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) generated $12.4 billion in fees for seat upgrades and preferred placements, <a href="https://www.cnbc.com/2024/11/26/senate-report-slams-airlines-for-raking-in-billions-in-seat-fees.html" target="_blank" rel="noreferrer noopener">CNBC</a> reports.
As travelers face rising costs for options like extra legroom or aisle seats, the report highlighted how these fees, initially marketed as optional, have become a significant revenue stream. CNBC reports that United alone earned $1.3 billion from seating fees last year—outpacing its checked bag-fee revenue for the first time.
Budget carriers like Spirit Airlines (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SAVEQ#OTC">SAVEQ</a>) and Frontier Airlines also came under fire. They incentivize gate agents to enforce bag size policies, sometimes at the expense of passenger experience.
Also Read: <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42198763/fed-minutes-reveal-confidence-in-inflation-reduction-yet-flag-divergent-views-on-interest-rate-path-ahead">Fed Minutes Reveal &#8216;Confidence&#8217; In Inflation Reduction, Yet Flag Divergent Views On Interest Rate Path Ahead</a>
Airlines for America, the industry's trade group, defended the fees, stating the competitive landscape allows passengers to pay for what they value. However, consumer advocates argue these practices burden travelers while masking true ticket costs, according to CNBC.
Budget airlines have faced additional scrutiny. Spirit Airlines awarded its CEO a $3.8 million retention bonus just days before filing for Chapter 11 bankruptcy. This financial maneuver came as the company sought to restructure debt while continuing operations <a href="https://www.benzinga.com/general/travel/24/11/42127269/spirit-airlines-ceo-gets-3-8-million-bonus-1-week-before-company-files-bankruptcy">under bankruptcy protection.</a>
Sen. Richard Blumenthal (D-CT), chair of the subcommittee, announced that airline executives will testify at a Dec. 4 hearing titled "The Sky's the Limit—New Revelations About Airline Fees."
The Biden administration passed various <a href="https://www.transportation.gov/briefing-room/biden-harris-administration-announces-final-rule-requiring-automatic-refunds-airline">protections</a> for airline consumers (i.e., automatic refunds after canceled flights).
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/global/24/11/42198583/will-trump-lead-us-into-trade-war-with-mexico-president-claudia-sheinbaum-rebukes-threats">Will Trump Lead US Into Trade War With Mexico? President Claudia Sheinbaum Rebukes Threats</a></li>
</ul>
Photo: Shutterstock

Travel

SAVEQ

Senate Targets Airlines Over $12.4 Billion Seat Fees Amid Mounting Scrutiny

Workday, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>) reported its third-quarter results after Tuesday's closing bell. Here's a look at the <a href="https://www.benzinga.com/pressreleases/24/11/n42200629/workday-announces-fiscal-2025-third-quarter-financial-results">details from the report. </a>
The Details: Workday reported quarterly earnings of $1.89 per share, which beat the analyst consensus estimate of $1.76. Quarterly revenue came in at $2.16 billion which beat the consensus estimate of $2.13 billion and is an increase over sales of $1.87 billion from the same period last year.
<ul>
<li>Subscription revenues were $1.959 billion, up 15.8% year-over-year.</li>
<li>The 12-month subscription revenue backlog was $6.98 billion, up 15.3% from the same period last year.</li>
<li>Total subscription revenue backlog was $22.19 billion, increasing 20.3% year-over-year.</li>
<li>Operating cash flows were $406 million compared to $451 million in the prior year. </li>
<li>Free cash flows were $359 million compared to $391 million in the prior year.</li>
</ul>
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&#8220;Workday&#8217;s solid performance in Q3 reflects the trust our customers place in us across industries, the global momentum around our AI-driven innovations, and the strength of our partner ecosystem,&#8221; said Carl Eschenbach, CEO of Workday. 
&#8220;Organizations are increasingly consolidating on the Workday platform to reduce total cost of ownership, simplify their operations, and to unlock the power of our best-in-class AI solutions. Workday gives them the ultimate advantage — and that positions our business for long-term success,&#8221; Eschenbach added.
Outlook:&nbsp;Workday revised its fiscal 2025 subscription revenue outlook lower from between $7.7 billion and $7.725 billion to $7.703 billion, representing growth of 17%. 
WDAY Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Workday shares are down 10.32% after-hours at $242 at the time of publication Tuesday. 
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Photo: Shutterstock

Personal Finance

WDAY

Workday Stock Slides After Q3 Results Beat Expectations, FY Subscription Revenue Guidance Revised Lower

X Financial Reports Q3 EPADS Of $1.27, Sales Of $225.5M, Both Up From Prior Year

3D Sys (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DDD#NYSE">DDD</a>) announced its Q3 earnings on Tuesday, November 26, 2024 at 04:15 PM.
Here's a breakdown of the earnings report.
<h3>Earnings</h3>
3D Sys missed estimated earnings by -33.0%, reporting an EPS of $-0.12 versus an estimate of $-0.09.
Revenue was down $10.85 million from the same period last year.
<h3>Analysis of Past Earnings</h3>
In the previous quarter, the company missed on EPS by $0.1, resulting in a 8.0% drop change in the share price the following day.
Here's a look at 3D Sys's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>-0.04</td>
<td>-0.08</td>
<td>-0.01</td>
<td>-0.06</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>-0.14</td>
<td>-0.17</td>
<td>-0.11</td>
<td>0.01</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>116.45M</td>
<td>107.63M</td>
<td>126.63M</td>
<td>129.97M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>113.25M</td>
<td>102.91M</td>
<td>114.85M</td>
<td>123.79M</td>
</tr>
</tbody>
</table>

To track all earnings releases for 3D Sys <a href="https://www.benzinga.com/quote/DDD/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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