Truworths International Limited (TRWKF) Q2 2026 Earnings Call February 27, 2026 6:00 AM EST
Company Participants
Michael Mark – CEO & Executive Director Sarah Proudfoot – Joint Deputy CEO & Executive Director Reon Smit Emanuel Cristaudo – Joint Deputy CEO, CFO & Executive Director
Presentation
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Michael Mark CEO & Executive Director
Good afternoon, everybody. Welcome to the 2026 February Half Year Results Presentation of Truworths. In the room with me on virtual is Manny Cristaudo and Sarah Proudfoot, who are our joint Deputy CEOs. You all know them pretty well. And then there’s Reon Smit, who’s our Financial Director. I’m going to go through the presentation as speedy as I can because it will be published on the Internet in the next hour or 2 afterwards anyway, so that I can try and get to the questions-and-answer stage within 35 minutes or so. And then we’ve got at least 20, 25 minutes until 2:00 to answer questions. We have obviously read some of the initial analyst reports that came out this morning and yesterday. So we’ve tried to even include those responses in those — in our presentation. So it follows our normal agenda. First and foremost, I’m going to talk once again about our business philosophy. This is not to annoy you or bore you.
It’s because I’m trying to give you a filter of how we think. And this filter affects our interactions with shareholders as well because — when you give us input, whether it’s positive input or critical input, we don’t ignore it. We don’t just blindly follow it. We filter it through our philosophy every single time because that’s how we think. I’m trying to explain to you how we think. And essentially, it’s a simple thing, especially for the new shareholders. I’ve said many times before, we publish it.
The Tennessee Bureau of Investigation activated a statewide Blue Alert shortly before midnight Thursday for 40-year-old Danell Maxwell, wanted in connection with the shooting of a Memphis police officer in the Parkway Village neighborhood.
Blue Alert
Authorities say the officer was shot around 8:15 p.m. Thursday near South Perkins Road and Cottonwood Road. The officer, whose identity and gender have not been released, was transported to Regional One Medical Center in serious but stable condition and is fighting for their life, according to sources familiar with the incident.
The Blue Alert, issued around midnight, identifies Maxwell as the suspect in the attempted first-degree murder of the officer. He is described as 5 feet 10 inches tall, weighing about 180 pounds, last seen wearing dark-colored clothing and an orange and green reflective vest. He is believed to be armed with a silver handgun and should be considered armed and dangerous.
Anyone with information on Maxwell’s whereabouts is urged to contact the Memphis Police Department at 901-528-2274 or the TBI at 1-800-TBI-FIND. Tips can also be submitted anonymously.
A Blue Alert is a public safety notification system designed to aid in the rapid apprehension of violent offenders who have killed or seriously injured a law enforcement officer in the line of duty. Modeled after the AMBER Alert for missing children, Blue Alerts disseminate critical information through television, radio, wireless emergency alerts on cellphones, highway message signs and other channels.
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The system, supported by the National Blue Alert Network under the U.S. Department of Justice, activates when criteria are met: an officer has been killed or seriously wounded, the suspect poses an imminent threat to public safety or other officers, and sufficient descriptive information is available to assist in locating the individual. Alerts can also issue for missing officers or those facing credible threats.
Tennessee participates in the national framework, allowing statewide coordination between agencies like the TBI and local departments such as Memphis Police. The alert helps mobilize community assistance while warning the public of potential danger.
The shooting occurred in Parkway Village, a residential area in southeast Memphis. A heavy law enforcement presence remained at Regional One Hospital into the early morning hours Friday as officers stood vigil while the wounded officer received treatment.
Memphis City Councilman JB Smiley Jr. confirmed the incident late Thursday, expressing concern for the officer’s condition and calling for community support in locating the suspect.
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No additional details on the circumstances leading to the shooting have been released, including whether it stemmed from a traffic stop, domestic call or other encounter. The TBI is leading the investigation at the request of local authorities, standard protocol in Tennessee for officer-involved incidents or crimes against officers.
The incident marks another challenge for Memphis law enforcement, which has faced high violent crime rates and officer safety concerns in recent years. Community leaders and police unions have repeatedly highlighted the risks officers face daily.
As of Friday afternoon, the Blue Alert remained active with no reports of Maxwell’s apprehension. Law enforcement urged residents to remain vigilant, avoid approaching the suspect if sighted and report any sightings immediately.
Public response to the alert included widespread sharing on social media, with many expressing prayers for the officer’s recovery and frustration over violence against first responders. Some residents in nearby areas like Cordova and midtown speculated on possible locations, though officials stressed relying on verified information.
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The case underscores the purpose of Blue Alerts: to bridge the gap between law enforcement and the public in high-stakes manhunts. Since its inception, the system has helped apprehend numerous suspects nationwide by leveraging widespread notifications.
For now, authorities continue an intensive search across Tennessee and potentially bordering states, given Memphis’s location near Arkansas and Mississippi. The TBI and Memphis PD are coordinating efforts, with possible assistance from federal partners if the suspect crosses jurisdictions.
The wounded officer’s condition was described as stable but critical, with updates expected as medical teams provide care. The Memphis Police Department has not named the officer pending family notification and in line with department policy.
This developing story highlights ongoing concerns about officer safety amid rising tensions in urban areas. As the investigation proceeds, more details may emerge about the encounter and Maxwell’s background.
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Residents are encouraged to stay informed through official channels and assist by providing any credible tips without endangering themselves.
Vasily Zyryanov is an individual investor and writer.He uses various techniques to find both relatively underpriced equities with strong upside potential and relatively overappreciated companies that have inflated valuation for a reason.In his research, he pays much attention to the energy sector (oil & gas supermajors, mid-cap, and small-cap exploration & production companies, the oilfield services firms), while he also covers a plethora of other industries from mining and chemicals to luxury bellwethers.He firmly believes that apart from simple profit and sales analysis, a meticulous investor must assess Free Cash Flow and Return on Capital to gain deeper insights and avoid sophomoric conclusions.While he favors underappreciated and misunderstood equities, he also acknowledges that some growth stocks do deserve their premium valuation, and its an investor’s primary goal to delve deeper and uncover if the market’s current opinion is correct or not.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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IonQ, Inc. (NYSE: IONQ), a leading quantum computing company, saw its shares rocket more than 21% Thursday after reporting fourth-quarter results that far exceeded expectations and issuing optimistic revenue guidance for 2026 that topped Wall Street forecasts.
IONQ
The stock closed regular trading at $40.88, up $7.29 or 21.70% from the previous close of $33.59, on massive volume exceeding 69 million shares — well above its average. Intraday trading ranged from a low of $38.75 to a high of $41.90, reflecting strong investor enthusiasm following the earnings release.
IonQ reported fourth-quarter revenue of $61.9 million, a staggering 429% increase from $11.7 million in the prior-year period. The figure beat the company’s own guidance midpoint by 55% and surpassed analyst expectations. For full-year 2025, revenue reached $130 million, up 202% year-over-year and 20% above the guidance midpoint, marking the first time a publicly traded quantum computing firm surpassed $100 million in annual GAAP revenue.
Adjusted loss per share narrowed to $0.20, better than the consensus estimate of a $0.23 loss. The results highlighted accelerating commercial demand, with more than 60% of 2025 revenue from commercial customers and over 30% from international sales. Organic growth approached 80% year-over-year.
CEO Niccolo de Masi described the performance as evidence of IonQ’s evolution into the “world’s only full-stack quantum platform company.” He emphasized strong backlog, pipeline visibility and momentum positioning the firm for continued expansion.
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For 2026, IonQ guided full-year revenue between $225 million and $245 million, with a midpoint of $235 million — about 22% above the average analyst estimate of roughly $193 million. First-quarter revenue is projected at $48 million to $51 million. The outlook implies roughly 81% year-over-year growth at the midpoint, driven by sustained demand for trapped-ion quantum systems, software and services.
The company anticipates an adjusted EBITDA loss of $310 million to $330 million for 2026, reflecting heavy investments in scaling operations, R&D and recent acquisitions. IonQ maintains a robust cash position of approximately $3.3 billion, providing runway for these initiatives.
A key catalyst in the report was IonQ’s announcement of deploying one of Europe’s largest operational quantum key distribution networks in Romania as part of the RoNaQCI project. The deployment underscores growing adoption in quantum networking and security applications across government and enterprise sectors.
IonQ also highlighted progress toward major milestones, including shipments of its Tempo system in 2026 and a planned 256-qubit demonstration. The company is pursuing a $1.8 billion acquisition of SkyWater Technology, a quantum chip foundry, to bolster manufacturing capabilities and reduce costs for future high-qubit systems.
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Analysts reacted positively overall, though some adjusted targets modestly. Jefferies maintained a Buy rating but trimmed its price target, while JP Morgan lowered its target from $47 to $42 while keeping a Neutral stance. The average one-year price target from 12 analysts stands around $71, implying significant upside from current levels, with highs reaching $100.
Technical indicators show IonQ breaking key resistance near $40, with the surge pushing it well above recent trading ranges but still below its 52-week high of $84.64 from October 2025. The 52-week low sits at $17.88. The stock’s beta of around 2.6 indicates high volatility, typical for emerging tech in quantum computing.
Market observers note IonQ’s results as a potential inflection point for the quantum sector, demonstrating commercial traction amid competition from rivals like Rigetti, Quantinuum and IBM. The company’s trapped-ion approach has achieved notable performance benchmarks, including a world-record 99.99% two-qubit gate fidelity in 2025.
Despite the rally, IonQ remains unprofitable on an adjusted basis, with full-year 2025 net losses at $510.4 million and adjusted EBITDA loss of $186.8 million. Investors are betting on the long-term transformative potential of quantum computing in fields like drug discovery, materials science, financial modeling, logistics, cybersecurity and defense.
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The stock’s performance contrasts with broader market trends Thursday, where some tech names faced pressure. IonQ’s surge stood out as a bright spot in speculative growth sectors.
As quantum adoption accelerates, IonQ’s focus on full-stack solutions, international expansion and strategic partnerships positions it as a frontrunner. Traders will monitor execution on 2026 milestones, backlog conversion and any updates on the SkyWater deal for further catalysts.
For now, the earnings beat and raised outlook have reignited enthusiasm, sending shares to their strongest close in recent months and signaling renewed confidence in quantum computing’s commercial path.
The Pokémon Company unveiled the first official trailer for *Pokémon Winds* and *Pokémon Waves* during a special Pokémon Presents livestream on February 27, 2026, marking the highly anticipated reveal of the franchise’s 10th generation mainline games. Exclusively developed by Game Freak for the Nintendo Switch 2, the titles are slated for a global simultaneous release in 2027.
The announcement, timed to celebrate Pokémon’s 30th anniversary on Pokémon Day, capped a packed presentation filled with franchise updates. The new trailer, titled “First Look: Pokémon Winds and Pokémon Waves | Announcement Trailer,” provides an extended glimpse into the upcoming open-world adventure, emphasizing stunning visuals and innovative exploration mechanics.
Pokémon Winds and Waves Trailer
The trailer opens with a nostalgic flip through an illustrated book recapping past regions, before transitioning to a sunny oceanfront scene. Two special Pikachu variants—Mr. Windychu and Ms. Wavychu, dressed in vacation attire—serve as apparent guides, playfully interacting with the environment and teasing their involvement in the story. The footage showcases a lush, unnamed archipelago region featuring windswept islands, dense tropical jungles, mangrove swamps, volcanic areas, rugged cliffs with towering windmills, palm-lined beaches, and expansive glittering oceans.
A major highlight is the clear tease of underwater exploration, with segments showing diving mechanics and submerged coral reefs teeming with Pokémon. This returns a beloved feature from earlier generations like *Ruby* and *Sapphire*, absent from recent mainline titles. Fans have praised the apparent graphical leap, with real-time water reflections, dynamic foliage, improved lighting, and smoother animations signaling a significant upgrade over *Scarlet* and *Violet*’s performance issues.
The games promise an emphasis on harmony with nature, where trainers “team up with all kinds of Pokémon to overcome both the difficult road ahead and even the forces of nature.” The trailer highlights diverse biomes and ecosystems, suggesting deeper integration of environmental elements into gameplay, including wind and wave-themed challenges.
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Central to the reveal are the three new starter Pokémon, each with classic typing and abilities:
– **Browt**, the Grass-type Bean Chick Pokémon: Described as lively but clumsy, this bird-like starter stands at 1 foot tall and weighs 7.7 pounds, with Overgrow as its hidden ability. – **Pombon**, the Fire-type Puppy Pokémon: A guileless and friendly fire lion cub at 1 foot 4 inches and 14.8 pounds, featuring Blaze. – **Gecqua**, the Water-type Water Gecko Pokémon: An intelligent lizard at 1 foot tall and 9.5 pounds, with Torrent.
The trailer concludes with dramatic shots of crashing waves and howling winds, building anticipation for legendary Pokémon and story elements likely tied to these natural forces.
Social media erupted following the debut, with the official Pokémon accounts’ posts garnering massive engagement. Commenters noted the extended development time—marking the longest gap between generations at five years—allowing for better optimization on the Switch 2’s hardware. Many expressed excitement over the visual improvements and underwater return, with some calling it a “very good sign” for the series’ future.
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The exclusivity to Nintendo Switch 2, which launched in 2025, aligns with Nintendo’s push for next-gen experiences. No backward compatibility with the original Switch was indicated, positioning these as flagship launch-window titles for the console’s lifecycle.
The Pokémon Presents also included other announcements: *Pokémon Champions* slated for April 2026 with Pokémon HOME features, the cozy multiplayer game *Pokémon Pokopia* on March 5, rereleases of classic titles like *FireRed*, *LeafGreen*, and *XD: Gale of Darkness*, plus events including the 2026 World Championships in San Francisco. Brazilian Portuguese support debuts with *Winds* and *Waves*, expanding accessibility.
With lifetime sales exceeding 480 million units and recent entries like *Scarlet* and *Violet* surpassing 25 million, the franchise remains a juggernaut. The 2027 launch follows a year of 30th anniversary celebrations across games, trading card games, anime, and merchandise.
Fans now await further details on the region’s name, legendaries, gym leaders, new mechanics, and evolutions. Official sources direct enthusiasts to Pokemon.com and the dedicated Winds and Waves site for updates.
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As the trailer circulates widely on YouTube and social platforms, the reveal solidifies excitement for Pokémon’s next chapter, promising a refreshed, nature-focused adventure on enhanced hardware.