Saturday, 28 Nov 2020

Expeditors International of Washington Inc. Q3 Earnings Advance

Sysco Corp. Q1 Profit Tops Estimates – Quick Facts

Sysco Corp. (SYY) reported first quarter adjusted earnings per share of $0.34 compared to $0.98, a year ago. On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $0.24, for the quarter. Analysts’ estimates typically exclude special items. Adjusted operating income decreased 50.8% to $364.7 million.

First quarter sales decreased 23.0% to $11.8 billion. Analysts expected revenue of $11.75 billion, for the quarter.

Shares of Sysco Corp. were up 5% in pre-market trade on Tuesday.

Expeditors Q3 Profit Tops Estimates – Quick Facts

Expeditors International of Washington, Inc. (EXPD) reported that its third quarter earnings per share increased 22% to $1.12. On average, 13 analysts polled by Thomson Reuters expected the company to report profit per share of $0.98, for the quarter. Analysts’ estimates typically exclude special items. Operating income increased 22% to $252 million.

Third quarter revenues increased 19% to $2.5 billion. Analysts expected revenue of $2.36 billion, for the quarter.

“Volumes started to recover across most of our products during the quarter, even as the global effects of COVID-19 continued to impact our business worldwide,” said Jeffrey Musser, CEO.

MeidasTouch Delivers Powerful Closing Message Urging Republicans To Reject Trump

The progressive PAC MeidasTouch is urging Republicans to “put country over party,” reject President Donald Trump and elect Democratic candidate Joe Biden. And it makes the case with an appeal to family.

“Before you cast your ballot, take a look at your sons. Is this the kind of man you want for a role model?” the narrator asks over clips of Trump’s crass and boorish moments. “Before you cast your ballot, take a look at your daughters. Is this how you want them to think women should be treated?” 

The video also asks Republicans to look in the mirror before voting. 

“Is this a movement you want to be a part of?” the narrator asks over clips of white supremacists and QAnon believers. “The party of Trump has shown you who they are over and over and over. It’s time for you to show us who you are.”

“In history class, we often wondered how dictatorships arose from seemingly healthy democratic nations,” MeidasTouch said in a news release. “How did despots beguile nations and wreak havoc for personal power? We never thought this was possible in America. We were wrong.”

MeidasTouch was founded by attorney Ben Meiselas and his two brothers. The group has spent the past several months releasing viral videos hitting at Trump and urging voters to back Biden. They’ve also taken on Ivanka Trump, her husband Jared Kushner ― both advisers to the president ― and Fox News personality Sean Hannity, among others.

Harrison Ford Defends Anthony Fauci From Trump’s Ugly New Election Threat

Screen icon Harrison Ford has teamed up with The Lincoln Project to narrate an ad hitting President Donald Trump’s public threat to fire Dr. Anthony Fauci after the election.

Fauci “has served the American people tirelessly, honorably and selflessly” under presidents from both parties, Ford said of the longtime director of the National Institute of Allergy and Infectious Diseases. But then the ad from the never-Trump conservative group highlights the “fire Fauci” chants heard at Trump rallies as well as Trump saying he might do just that.

“Don’t tell anybody,” Trump told the audience. “But let me wait ’til a little bit after the election.”

Ford said Americans can fire someone else instead: Trump.

“The choice is yours,” he said.

U.S. Construction Spending Rises Less Than Expected In September

Construction spending in the U.S. increased by less than expected in the month of September, the Commerce Department revealed in a report released on Monday.

The report said construction spending rose by 0.3 percent to an annual rate of $1.414 trillion in September after climbing by 0.8 percent to $1.410 trillion in August. Economists had expected construction spending to jump by 1.0 percent.

The weaker than expected growth in construction spending came as an increase in spending on private construction was partly offset by a drop in spending on public construction.

The Commerce Department said spending on private construction climbed by 0.9 percent to an annual rate of $1.075 trillion, with a spike in spending on residential construction more than offsetting a slump in spending on non-residential construction.

Meanwhile, the report said spending on public construction tumble by 1.7 percent to an annual rate of $339.1 billion amid a steep drop in spending on highway construction.

Expeditors International of Washington Inc. Q3 Earnings Advance

Expeditors International of Washington Inc. (EXPD) released a profit for its third quarter that increased from the same period last year.

The company’s profit totaled $191.31 million, or $1.12 per share. This compares with $160.22 million, or $0.92 per share, in last year’s third quarter.

Analysts had expected the company to earn $0.98 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 18.8% to $2.46 billion from $2.07 billion last year.

Expeditors International of Washington Inc. earnings at a glance:

-Earnings (Q3): $191.31 Mln. vs. $160.22 Mln. last year.
-EPS (Q3): $1.12 vs. $0.92 last year.
-Analysts Estimate: $0.98
-Revenue (Q3): $2.46 Bln vs. $2.07 Bln last year.

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