Thursday, 23 Sep 2021

Fortive Raises FY21 Earnings Outlook

ENEL H1 Profit Down

ENEL (ENLAY.PK,EN) Tuesday reported first-half group net ordinary income of 2.30 billion euros, down from 2.40 billion euros last year.

Revenues dropped 10.6% to 29.853 billion euros from 33.375 billion euros last year. The change is mainly attributable to Thermal Generation and Trading activities, due to lower trading activities in Italy and to the negative exchange rate effect in Latin America.

Ordinary EBITDA dropped 4.9% to 8.36 billion euros from 8.79 billion euros last year. The decrease is essentially due to the impacts recognized in the first half of 2020 following the change in the energy discount benefit in Spain , mainly in Infrastructure and Networks as well as in Thermal Generation and Trading, in addition to the adverse exchange rate effect in Latin America.

U.S. FDA approves Biocon’s insulin Semglee

Biocon Biologics and Viatris Inc said the U.S. Food and Drug Administration (FDA) had approved Semglee®, a long-acting insulin injection, as the first interchangeable biosimilar product for the treatment of diabetes. This would allow pharmacy level substitution and better affordability and access to Semglee, a biosimilar product, said executive chairperson Kiran Mazumdar-Shaw.

The interchangeable Semglee product, which would allow substitution of Semglee for the reference product, Lantus, at the pharmacy counter, would be introduced before the end of the year. The company would be eligible to have exclusivity for 12 months before the FDA can approve another biosimilar interchangeable to Lantus, said a statement from Biocon Biologics.

Southwestern Energy Co. Q2 adjusted earnings Miss Estimates

Below are the earnings highlights for Southwestern Energy Co. (SWN):

-Earnings: -$609 million in Q2 vs. -$880 million in the same period last year.
-EPS: -$0.90 in Q2 vs. -$1.63 in the same period last year.
-Excluding items, Southwestern Energy Co. reported adjusted earnings of $129 million or $0.19 per share for the period.
-Analysts projected $0.21 per share
-Revenue: $1.05 billion in Q2 vs. $0.41 billion in the same period last year.

Eversource Energy Q2 Income Rises

Eversource Energy (ES) released a profit for its second quarter that rose from the same period last year.

The company’s earnings totaled $264.52 million, or $0.77 per share. This compares with $252.23 million, or $0.75 per share, in last year’s second quarter.

Analysts had expected the company to earn $0.79 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 8.7% to $2.12 billion from $1.95 billion last year.

Eversource Energy earnings at a glance:

-Earnings (Q2): $264.52 Mln. vs. $252.23 Mln. last year.
-EPS (Q2): $0.77 vs. $0.75 last year.
-Analysts Estimate: $0.79
-Revenue (Q2): $2.12 Bln vs. $1.95 Bln last year.

Vertex Pharmaceuticals Lifts FY21 Revenue Outlook

Vertex Pharmaceuticals Inc. (VRTX) lifts its full year 2021 revenue outlook. The company now expects revenues of $7.2 billion to $7.4 billion for the full year 2021.

Analysts polled by Thomson Reuters currently expect revenues of $6.99 billion for the year. Previously, the company expected revenues of $6.7 billion to $6.9 billion.

Meanwhile, the company maintained its outlook for combined R&D and SG&A expenses for the full year of $3.8 billion to $3.95 billion.

Jill Biden had a sharp object removed from her foot at Walter Reed hospital

  • First Lady Dr. Jill Biden had a sharp object removed from her left foot by doctors at Walter Reed National Military Medical Center on Thursday, her office said.

WASHINGTON — First Lady Dr. Jill Biden had a sharp object removed from her left foot by doctors at Walter Reed National Military Medical Center on Thursday, her office said.

"Last weekend, prior to her two official events in Hawaii, the First Lady stepped on an object on the beach which became lodged in her left foot," said spokesman Michael LaRosa.

LaRosa said Biden underwent "a procedure today at [Walter Reed] to remove the object."

The first lady visited Hawaii on her way home from Tokyo, where she had led the U.S. delegation to the Olympic Games.

President Joe Biden accompanied his wife, slightly delaying speech he gave on Thursday afternoon.

The president announced that all federal employees will be required to show proof of vaccination for Covid 19 or they will have to wear masks at work and physically maintain their distance from others.

After he finished his remarks, the president said he was going to check on Dr. Biden's condition.

Fortive Raises FY21 Earnings Outlook

Fortive Corp. (FTV) Thursday raised its earnings and revenue guidance for the full year 2021.

For the full year 2021, Fortive now anticipates earnings from continuing operations to be in the range of $1.70 to $1.80 per share and adjusted earnings from continuing operations to be in the range of $2.65 to $2.75 per share.

Previously, for the full year 2021, Fortive expected net earnings from continuing operations to be in the range of $1.50 to $1.60 per share and adjusted diluted net earnings from continuing operations to be in the range of $2.50 to $2.60 per share.

For the third quarter, Fortive anticipates net earnings from continuing operations to be in the range of $0.41 to $0.45 per share and adjusted net earnings from continuing operations to be in the range of $0.62 to $0.66 per share.

Analysts polled by Thomson Reuters currently estimate earnings of $0.63 per share and $2.60 per share for the full year 2021.

CEO James Lico said, “We are excited about our recently announced acquisition of ServiceChannel. The transaction adds another differentiated, high-growth SaaS asset with an attractive runway to drive increasing profitability and free cash flow, and generate strong returns over the next five years. As we look ahead, we have significant capacity and opportunity for additional capital allocation which will continue to strengthen the portfolio and drive double-digit earnings and free cash flow growth over the long-term.”

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