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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…
Brazil’s StoneCo sees profit multiplying eightfold by 2027
By Andre Romani SAO PAULO (Reuters) – Brazilian financial tech company StoneCo plans to multiply net profits eightfold through the end of 2027 by accelerating the integration of its financial services and…
JBS’ Q3 profit plunges on low U.S. pork prices, beef margins and global chicken glut
By Ana Mano SAO PAULO (Reuters) – JBS SA, the world’s biggest meatpacker, reported an 86% drop in third-quarter net income compared to a year ago on Monday, sliding to around 573…
Improved profit margins ‘bright spot’ in US earnings season -Goldman strategists
By Lewis Krauskopf NEW YORK (Reuters) – Improving profit margins among U.S. companies are supporting a stronger-than-expected earnings season even as revenues top estimates at rates below the historical long-term average, according…
North American airlines bet on Asia to drive profit
By Allison Lampert and Rajesh Kumar Singh MONTREAL/CHICAGO (Reuters) – The return of North American flights to Asia-Pacific is accelerating heading in to 2024, as carriers bet on the region as the…
Allianz retains full-year outlook despite 30% slump in Q3 profit
FRANKFURT (Reuters) – Germany’s Allianz on Friday posted a 30% fall in its third-quarter net profit, dragged down by claims from natural catastrophes, although the financial services company maintained its full-year profit…
Illumina cuts annual profit forecast for second straight quarter
(Reuters) – U.S. genetic testing Illumina on Thursday trimmed its annual profit forecast for the second straight quarter, hurt by weakness in demand for its sequencing instruments, consumables and services. Shares of…
Hapag-Lloyd posts 77% drop in 9-month net profit, cuts outlook
By Vera Eckert and Elke Ahlswede FRANKFURT (Reuters) – German container shipper Hapag-Lloyd on Thursday posted a net profit of 3.2 billion euros ($3.43 billion) for the first nine months of 2023,…
Strong demand drives surge in Dubai’s Emirates airline H1 profit
DUBAI (Reuters) – Emirates airline, Dubai’s flagship carrier, posted a significant jump in net profit for the first half of financial year 2023-24 on the back of strong demand, the company said…
ArcelorMittal reports higher-than-expected Q3 profit
By Marine Strauss BRUSSELS (Reuters) -ArcelorMittal, the world’s second-largest steelmaker, “continued to demonstrate structurally improved profitability,” it said on Thursday after reporting higher-than-expected third-quarter earnings. The group said it still expected global…
Honda posts 31% Q2 operating profit jump, raises full-year forecast
TOKYO (Reuters) -Japan’s Honda Motor posted a 31% increase in operating profit for the September quarter on Thursday, lifted by stronger sales in the United States and a weaker yen, and raised…
Twilio forecasts fourth-quarter profit above estimates on active customer accounts growth
(Reuters) – Cloud service provider Twilio on Wednesday forecast fourth-quarter profit above Wall Street estimates on an increase in its active customer accounts. The company’s shares rose 8.4% to $60.50 after the…
Jewellery maker Pandora raises sales forecast after Q3 profit beat
COPENHAGEN (Reuters) – Danish jewellery maker Pandora reported a smaller than expected drop in third-quarter profit on Wednesday as more shoppers came to its stores, and raised its full-year sales outlook, sending…
Commerzbank Q3 net profit more than triples, beats expectations
FRANKFURT (Reuters) -Germany’s Commerzbank said on Wednesday that net profit more than tripled in the third quarter, better than expected and helped by higher interest rates, as it presented a strategy update.…
Emerson Electric misses estimates for fourth-quarter sales, profit
(Reuters) – U.S. industrial conglomerate Emerson Electric Co on Tuesday reported fourth-quarter sales and profit below Wall Street estimates, hit by supply chain disruptions. Shares of the company were down 8.3% in…
GlobalFoundries projects profit above estimates in positive sign for chip market
(Reuters) – Contract chipmaker GlobalFoundries forecast fourth-quarter profit above analysts’ estimates on Tuesday, providing the latest sign that a supply glut in the semiconductor industry was easing. The company’s shares rose 4.5%…
Chipmaker NXP forecasts profit above estimates on resilient auto, industrial
(Reuters) – Chipmaker NXP Semiconductors forecast fourth-quarter profit above Wall Street targets on Monday, expecting a resilient automotive market and stable industrial demand to offset weakness in other key markets. To protect…
Safilo posts 20% drop in adj. core profit as Europe, North America weighs
(Reuters) – Italian eyewear group Safilo on Friday reported adjusted core profit at 18.1 million euros in the quarter, down 20% year-on-year, due to declining sales in former GrandVision chains in Europe…
Consolidated Edison beats Q3 profit estimates as electricity revenue climbs
(Reuters) – Utility firm Consolidated Edison on Thursday beat third-quarter profit estimates on higher earnings from its electricity segment. The company, which provides electricity in much of the New York City, had…
Monster Beverage edges past profit expectations on higher pricing, cooling costs
(Reuters) – Monster Beverage Corp beat estimates for third-quarter profit on Thursday, helped by higher pricing for its energy drinks and hard seltzers, sending the company’s shares up about 3% in extended…
EOG Resources beats quarterly profit estimates on strong production
(Reuters) -U.S. shale oil producer EOG Resources on Thursday soared past Wall Street estimates for third-quarter profit and raised its annual production forecast amid resilient fuel demand. U.S. WTI crude prices climbed…
Pioneer Natural Resources’ profit falls, but tops analysts estimates
HOUSTON (Reuters) – Pioneer Natural Resources on Thursday said its third quarter profit fell 26% due to lower oil and gas prices, but topped analysts’ estimates on the back of higher production.…
Pinnacle West profit climbs 22% as summer heat drives electricity demand
(Reuters) – Pinnacle West Capital on Thursday posted a 22% rise in third-quarter profit as the utility got a boost from higher electricity demand due to extreme hot weather. The company recorded…
American Electric Power beats profit estimates on higher rates
(Reuters) – American Electric Power on Thursday beat profit estimates for the third quarter, as the utility benefited from higher electricity rates and customer additions. That helped the company, one of the…
Duke Energy beats profit estimates on higher margins
NEW YORK (Reuters) – Duke Energy Corp on Thursday beat Wall Street estimates for third-quarter profit, with the company pointing to higher retail margins and so-called rider charges which are added to…
Norwegian Air Q3 profit beats forecasts, says Q4 bookings “encouraging”
OSLO (Reuters) -Norwegian Air reported third-quarter profit above expectations on Thursday and said current ticket sales were “slightly reduced” going into the usual winter travel lull. July-September profit before interest, tax, depreciation…
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