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10-Q - Spectral AI, Inc. (0001833498) (Filer)

Thu, May 15, 6:57 PM (34 days ago)

**Company:** Target Corporation (TGT) **Summary:** Target Corporation reported its Q2 2023 financial results, highlighting several key metrics. Revenue increased by 2.6% year-over-year to $26,906,000, driven by a 1.6% rise in comparable sales. However, the company faced challenges with its profit margins, as the gross margin rate declined by 132 basis points to 29.0%. This was attributed to higher costs and promotional activities. Operating income decreased by 11.8% to $1,442,000, reflecting the margin compression and increased expenses. Earnings per share (EPS) fell by 14.3% to $1.54, missing analysts' estimates. The company reported a free cash flow of $1,256,000, a decrease from the previous year, reflecting increased capital expenditures and changes in working capital. Target's board of directors declared a quarterly dividend of $1.08 per share, payable in September 2023. Looking ahead, Target expects continued uncertainty in consumer spending and supply chain disruptions. The company is focusing on cost management and strategic investments to drive future growth. Despite the current headwinds, Target remains optimistic about its long-term prospects, citing strong brand loyalty and a robust omnichannel strategy. **Key Points:** - Revenue: $26,906,000 (+2.6% Y/Y) - Comparable Sales: +1.6% - Gross Margin: 29.0% (-132 bps Y/Y) - Operating Income: $1,442,000 (-11.8% Y/Y) - EPS: $1.54 (-14.3% Y/Y) - Free Cash Flow: $1,256,000 - Dividend: $1.08 per share - Future Outlook: Uncertainties in consumer spending and supply chain, focus on cost management and strategic investments.