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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…
Insurer CNA Financial misses profit estimates on higher catastrophe losses in P&C segment
(Reuters) – Insurer CNA Financial missed second-quarter profit estimates on Monday, as wider catastrophe losses in its property and casualty (P&C) segment partially offset higher investment income. Profits at insurers came under…
Loews profit more than doubles as market rebound boosts investment returns
(Reuters) – Loews Corp said on Monday its second-quarter profit more than doubled as a jump in investment income cushioned a hit from higher catastrophe losses in its insurance unit, CNA Financial.…
China hotpot chain Haidilao soars on surge in first-half profit
BEIJING (Reuters) – Shares in Haidilao International Holding soared 16% on Monday after China’s largest hotpot chain said it expected to report a 30-fold jump in first-half profit with diners returning to…
Shipping group CMA CGM braced for weaker profit before demand picks up in 2024
PARIS (Reuters) – French shipping group CMA CGM expects container freight demand to improve from next year but the group’s profits will continue to ease this year as a slump in freight…
Colgate-Palmolive bumps up annual sales, profit forecasts on strong pricing
(Reuters) – Colgate-Palmolive raised annual organic sales and profit forecasts on Friday, banking on price hikes and resilient demand for its self-care and pet nutrition products. The company, like several other consumer…
Lazard profit beats estimates, sees early signs of recovery in deals
By Manya Saini (Reuters) -Investment bank Lazard’s profit topped Wall Street expectations in the second quarter, and executives said that they were seeing early signs of a prolonged slump in dealmaking bottoming…
Norfolk Southern’s profit halves on new $416 million Ohio derailment charge
(Reuters) – Norfolk Southern Corp’s second-quarter profit tumbled 55% after the U.S. railroad operator recorded a fresh $416 million charge associated with the Eastern Ohio freight train derailment. The derailment of one…
Hospital operator HCA raises 2023 profit view as surgery volumes rebound
(Reuters) -Hospital operator HCA Healthcare Inc on Thursday raised its annual profit forecast, betting on a recovery in non-urgent medical procedures as more patients return to hospitals for surgeries delayed during the…
Carrier Global raises full-year profit forecast on strong demand
(Reuters) – Air conditioner maker Carrier Global on Thursday raised its full-year adjusted profit above Wall Street estimates, encouraged by robust demand for the company’s heat pumps, refrigerators, and aftermarket repair services.…
A. O. Smith raises full-year adjusted profit forecast
(Reuters) – A. O. Smith on Thursday raised its full-year adjusted profit forecast, helped by lower cost of steel and strong demand for water heaters in North America. The Milwaukee, Wisconsin-based company…
Auto parts distributor LKQ cuts profit outlook as commodity costs bite
(Reuters) – Auto parts distributor LKQ Corp lowered its full-year profit and sales guidance on Thursday, as falling commodity prices drag down growth prospects. LKQ, which also sells scrap and other materials…
Textron beats profit estimates on higher pricing of business jets
(Reuters) – Textron Inc raised its full-year adjusted earnings per share forecast on Thursday, as stronger pricing of business jets and military helicopters continues to offset inflationary costs and drive revenue growth…
Mexico’s Cemex sees slight profit on price hikes, strong peso
By Kylie Madry MEXICO CITY (Reuters) – Mexican cement maker Cemex on Thursday posted a slight rise in second-quarter net profit, on the back of double-digit price hikes and a strong peso.…
Western Union raises annual profit view on strong growth in C2C service
(Reuters) – Western Union Co raised its annual profit forecast on Wednesday after an upbeat second quarter in which transactions jumped on strong growth consumer-to-consumer (C2C) service, sending its shares up about…
Raymond James profit misses estimates on decline in deals
(Reuters) – Raymond James missed quarterly profit estimates on Wednesday as Wall Street’s prolonged dealmaking slump impacted its investment banking business, sending its shares down 2% in extended trading. Investment banking revenue…
Derivatives exchange CME Group’s profit rises on robust demand
(Reuters) – CME Group Inc reported a rise in its second-quarter profit on Wednesday, as traders turned to the exchange operator’s products to hedge against market volatility triggered by recession fears. Demand…
Liftmaker Otis beats analyst estimates for quarterly profit, revenue
(Reuters) – Liftmaker Otis Worldwide posted second-quarter revenue and profit above analysts’ estimates on Wednesday, fueled by sustained demand for escalators and elevators in residential and commercial projects. The Connecticut-based company’s price…
Carrefour Brasil posts 95% drop in Q2 net profit weighed down by BIG division
MEXICO CITY (Reuters) – Carrefour Brasil reported a 95.2% drop in its second-quarter adjusted net profit to reach 29 million reais ($6.10 million), hit by the financial impact of its integration with…
Albertsons beats profit, revenue expectations on strong demand for groceries
(Reuters) – Albertsons Companies topped Wall Street expectations for quarterly profit and revenue on Tuesday, on the back of steady demand for groceries and pocket-friendly private label brands. Consumers in the U.S.…
Dow reports lower quarterly profit on weak demand
(Reuters) – Dow Inc reported a lower second-quarter profit on Tuesday, hurt by lower prices of its products and weak sales volumes. Manufacturing activity in the United States and Europe continued to…
Whirlpool profit slides as inflation hits appliance demand
(Reuters) – Whirlpool Corp reported a 29.5% slide in quarterly profit on Monday as persistent inflation hit consumer spending, weakening demand for its washing machines and kitchen appliances. Shares of the home…
US restaurants set for second-half profit boost as costs ease, demand stays firm
By Deborah Mary Sophia (Reuters) – Restaurant chains including McDonald’s and Chipotle Mexican Grill are expected to report strong profits in the second half of 2023 as commodity costs finally ease at…
Chevron’s $6 billion second-quarter profit tops analysts’ outlook
By Sabrina Valle HOUSTON (Reuters) – Chevron Corp’s second-quarter earnings topped Wall Street estimates, the company said on Sunday, and Chief Executive Michael Wirth also signaled the number two U.S. oil company…
Huntington Bancshares beats Q2 profit estimates on interest income strength
(Reuters) -Huntington Bancshares beat Wall Street estimates for second-quarter profit on Friday, as it earned more from rising interest rates and saw strong demand for its commercial loans. Largely positive reports from…
SLB flags slowing N.America demand; international lifts profit
By Arathy Somasekhar and Arunima Kumar HOUSTON (Reuters) -SLB on Friday flagged weakening North America oilfield activity even as the company topped analysts’ estimates for second quarter profit, helped by a rebound…
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