Sunday, 29 Nov 2020

Hurricane Zeta Damage May Cost Insurers as Much as $4.4 Billion

NAPCO Security Technologies Inc. Earnings Drop In Q1

NAPCO Security Technologies Inc. (NSSC) revealed a profit for first quarter that dropped from the same period last year.

The company’s earnings came in at $2.32 million, or $0.13 per share. This compares with $3.23 million, or $0.17 per share, in last year’s first quarter.

Analysts had expected the company to earn $0.10 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter fell 11.9% to $23.17 million from $26.29 million last year.

NAPCO Security Technologies Inc. earnings at a glance:

-Earnings (Q1): $2.32 Mln. vs. $3.23 Mln. last year.
-EPS (Q1): $0.13 vs. $0.17 last year.
-Analysts Estimate: $0.10
-Revenue (Q1): $23.17 Mln vs. $26.29 Mln last year.

WHO Chief In Self-quarantine After Contact Tests Positive For Covid-19

The World Health Organization Chief Tedros Adhanom Ghebreyesus has self-quarantined after one of his contacts tested positive for Covid-19.

Tedros tweeted late Sunday, “I have been identified as a contact of someone who has tested positive for #COVID19. I am well and without symptoms but will self-quarantine over the coming days, in line with @WHO protocols, and work from home.”

In his following tweets, he said it is critically important that all comply with health guidance to break chains of COVID19 transmission, suppress the virus, and protect health systems.

Tedros and the WHO have been working hard over these months to fight the coronavirus that has affected over 46 million people and claimed over 1.2 million lives across the world.

The WHO, which is expecting a Covid-19 vaccine by the end of 2020 or early 2021, urges all individuals to hand-wash, wear masks and keep a safe distance to fight the pandemic.

Tedros’ messages come as several European countries and U.S. states are locking down again following a second wave of the virus attack. On Sunday, Geneva, home to WHO’s headquarters, declared a fresh state of emergency, shutting down all bars, restaurants and non-essential shops.

The organization recently noted that the European region for the second consecutive week accounted for the biggest proportion of new infections across the world.

Ocala Police Chief Dies In Plane Crash

A Florida police chief Greg Graham died Sunday morning after a single-engine plane he was piloting crashed into an open field.

The death of Ocala police chief was confirmed by the Marion County Sheriff’s Office in a Facebook post.

Ocala Mayor Kent Guinn also confirmed Graham’s death and noted that Graham had recently received his pilot’s license.

The plane crashed around 11:30 a.m. on Sunday in an open field in the area of Dunnellon, not far from the Marion County Airport. Graham was the sole occupant of the plane.

Federal Aviation Administration officials are investigating Graham’s death. No one else was injured in the crash.

“Greg Graham, by job description, was a fellow law enforcement leader. But, by human, personal definition, I call him a friend and mentor. He did all of these well,” Marion County Sheriff Billy Woods said in the Facebook post.

Graham became chief of the Ocala Police Department in January 2012 and had served with the department since the 1980s.

Guinn said Ocala Deputy Chief Mike Balken will be named interim police chief.

National Retail Properties, Inc. Q3 adjusted earnings Beat Estimates

National Retail Properties, Inc. (NNN) reported earnings for third quarter that dropped from the same period last year.

The company’s earnings came in at $51.58 million, or $0.30 per share. This compares with $58.11 million, or $0.35 per share, in last year’s third quarter.

Excluding items, National Retail Properties, Inc. reported adjusted earnings of $106.69 million or $0.62 per share for the period.

Analysts had expected the company to earn $0.37 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter fell 5.9% to $158.63 million from $168.61 million last year.

National Retail Properties, Inc. earnings at a glance:

-Earnings (Q3): $106.69 Mln. vs. $116.87 Mln. last year.
-EPS (Q3): $0.62 vs. $0.71 last year.
-Analysts Estimate: $0.37
-Revenue (Q3): $158.63 Mln vs. $168.61 Mln last year.

Itron Q3 Profit Tops Estimates – Quick Facts

Itron, Inc. (ITRI) reported third quarter non-GAAP earnings per share of $0.61, compared to $1.04, prior year. On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $0.25, for the quarter. Analysts’ estimates typically exclude special items.

Third quarter revenue was $540 million, compared to $624 million, previous year. Analysts expected revenue of $539.39 million, for the quarter. The company said the decrease was primarily due to lower customer demand and operating constraints resulting from COVID-19.

“While still being negatively impacted by the COVID-19 pandemic, our results have improved sequentially from the second quarter low point,” said Tom Deitrich, CEO.

The company said it remains on track to achieve its second half 2020 expectations.

Hurricane Zeta Damage May Cost Insurers as Much as $4.4 Billion

Hurricane Zeta, which tore through the U.S. South last month, may have cost insurers as much as $4.4 billion, according to tallies from risk-modeling firms.

Insured losses were mostly from wind and storm-surge damage in the U.S. and the rest caused by wind losses in Mexico, according to a report Monday from Karen Clark & Co. AIR Worldwide said insured damage could be $1.5 billion to $3.5 billion, the Verisk Analytics Inc. business said in a statement.

The storm, which made landfall in the U.S. near Cocodrie, Louisiana, affected nine U.S. states. The biggest losses were in Louisiana, Mississippi and Georgia, according to KCC. Zeta also caused widespread power outages, which has affected voting in some states.

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