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Governor Phil Murphy Sees Huge Profit Margin in High Energy Prices for State Finances
TRENTON, NJ – New Jersey’s government bank accounts are about to see a huge increase in tax revenue collected from anyone who pays an electric bill, thanks to a 20% price hike…
Capital One posts worse-than-feared quarterly profit on provisions
(Reuters) – Consumer lender Capital One Financial Corp’s first-quarter profit missed estimates on Thursday due to an increase in provisions that reduced gains from interest rate hikes. The Federal Reserve’s rate hikes…
Honeywell lifts annual profit outlook after quarterly results beat
(Reuters) – Industrial conglomerate Honeywell International Inc raised its full-year profit and revenue forecasts on Thursday, after posting a quarterly results beat on strength in its aviation unit. Shares of the company,…
DTE Energy beats profit estimates on lower costs, non-utility gains
(Reuters) – U.S. electric and gas utility firm DTE Energy Co beat estimates for first-quarter profit on Thursday, as lower costs and upbeat performance of a unit that develops energy projects partially…
China brokerage CITIC posts 3.6% rise in Q1 profit
BEIJING/SHANGHAI (Reuters) – CITIC Securities Co, China’s biggest brokerage, reported a 3.6% rise in first-quarter profit on Thursday, thanks to stronger investment returns as the economy recovers. Net profit in the January-March…
Textron’s profit rises on stronger pricing of business jets
(Reuters) – Textron Inc beat estimates for first-quarter profit on Thursday, as higher sales of pricier business jets in Aviation segment helped offset the lower military helicopter revenues in Bell unit. Shares…
CenterPoint Energy beats profit estimates on lower operating costs
(Reuters) – CenterPoint Energy Inc beat first-quarter profit expectations on Thursday, as lower operating and maintenance costs outweighed the impact of high interest expenses and mild winter. The electric and gas utility…
Spain’s Acerinox tops profit forecast on U.S. demand
By Matteo Allievi and Natalia Siniawski (Reuters) – Spanish steelmaker Acerinox beat first quarter net profit expectations on Thursday, driven by growth in its U.S. operations, and forecast slightly better earnings in…
Raymond James profit misses estimates as deals drought extends
(Corrects dateline, day in paragraph 1, typo in headline) (Reuters) – Raymond James Financial Inc missed Wall Street estimates for second-quarter profit on Wednesday as a prolonged dealmaking slump weighed on the…
Brazil’s WEG posts Q1 net profit up 38%, in line with forecasts
SAO PAULO (Reuters) – Brazilian motor maker WEG SA on Wednesday reported a first-quarter net profit of 1.3 billion reais ($257.29 million), up 38.4% from a year earlier and roughly in line…
ADM profit tops forecasts, shares drop as outlook disappoints
By Karl Plume and Sourasis Bose CHICAGO (Reuters) -Archer-Daniels-Midland Co beat Wall Street expectations on Tuesday with a record first-quarter profit but its shares fell as it forecast full-year earnings below some…
NVR beats quarterly profit expectations on higher home prices
(Reuters) – Homebuilder and mortgage banking company NVR Inc beat analysts’ expectations for first-quarter profit on Tuesday, helped by higher home prices. U.S. home prices have remained elevated as a shortage of…
Apple supplier Corning rides on price hikes to beat profit estimates
(Reuters) – Specialty glass maker Corning Inc beat profit estimates for the first quarter on Tuesday as price hikes more than made up for higher raw material costs and a demand slowdown.…
Kimberly-Clark lifts 2023 profit forecast on higher prices
(Reuters) – Kimberly-Clark Corp raised its full-year profit forecast on Tuesday as consistent price hikes helped the company post better-than-expected sales in the first quarter, despite weak volumes across all its segments.…
Northern Trust’s first-quarter profit slightly below estimates as fees plunge
(Reuters) – Wealth manager Northern Trust Corp reported lower-than-expected first-quarter profit on Tuesday, as lower asset management fees dragged down gains from higher interest rates. The results come close on the heels…
JetBlue forecasts second-quarter profit above expectations on robust demand
(Reuters) – JetBlue Airways Corp forecast a better-than-expected second-quarter profit on Tuesday as the low-cost carrier remains confident about a robust recovery in leisure and international travel. Shares of the airline rose…
Santander Brasil posts Q1 net profit down 46.6%
SAO PAULO (Reuters) – Banco Santander Brasil SA on Tuesday reported a first quarter net profit of 2.14 billion reais ($425.09 million), down 46.6% from a year earlier but still above analysts’…
Daimler Truck Q1 operating profit beats estimate
FRANKFURT (Reuters) – Daimler Truck on Monday said its first-quarter results came in above market expectations, boosted by what it said was strong demand and an increase in unit sales. Preliminary first-quarter…
Japan carrier ANA Holdings raises profit estimate on cheaper fuel, yen rise
TOKYO (Reuters) – Japan’s largest airline ANA Holdings Inc on Friday raised its profit estimate for the just-ended fiscal year, citing a decline in fuel costs and an uptick in the yen.…
PPG Industries exceeds profit expectations, forecasts strong FY earnings
(Reuters) – PPG Industries Inc on Thursday surpassed street estimates, as the industrial coatings supplier accelerated its margin recovery on the back of higher prices and sales volumes, and forecast better-than-expected full-year…
Huntington Bancshares beats profit estimate on interest boost
(Reuters) – Huntington Bancshares Inc on Thursday reported a first-quarter profit that narrowly beat analysts’ estimates, as a boost from higher interest rates offset a hit from bigger provisions. A surge in…
Usiminas posts Q1 profit beat but sees lower steel sales ahead
SAO PAULO (Reuters) – Usiminas expects its steel sales to slip in the second quarter from a year earlier, it said on Thursday, as it kicked off Brazil’s earnings season by beating…
Philip Morris trims annual profit forecast on elevated costs
(Reuters) -Marlboro maker Philip Morris International Inc cut its full-year profit forecast on Thursday, hit by rising tobacco leaf prices, energy and labor costs. Shares of the company fell about 2% in…
Zions Bancorporation profit misses as provisions overshadow NIM gains
(Reuters) – Zions Bancorporation missed estimates for quarterly profit on Wednesday as higher provisions to cover loan losses offset the impact of rising rates on its interest income. Shares of Utah-based Zions…
U.S. Bancorp beats profit estimates as higher rates boost interest income
(Reuters) – U.S. Bancorp (USB) on Wednesday beat estimates for first-quarter profit as rapid rate hikes from the Federal Reserve helped the lender earn more from the interest charged on loans. That…
State Street profit misses on lower fee income; shares fall
(Reuters) – State Street Corp reported a first-quarter profit on Monday that missed analysts’ estimates, hurt by a fall in fee income due to the recent U.S. banking crisis, sending the company’s…
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