Monday, 6 Dec 2021

Packaging Corporation of America Q3 adjusted earnings Beat Estimates

Sierra Bancorp Q3 Net Income Rises

Sierra Bancorp (BSRR), the parent of Bank of the Sierra, on Monday posted a rise in its profit for the third quarter of fiscal 2021, with an increase in its non-interest income and positive market cues.

The California-headquartered financial firm reported a net income of $10.60 million or $0.69 per share for September quarter, compared to $10.35 million or $0.67 per share posted for the same quarter last year.

Net interest income of the lender decreased by $1.4 million to $26.71 million, from $28.07 million of last year. Interest expense was $0.9 million for the quarter, a decline of six percent compared to the third quarter of 2020.

The total non-interest income of the lender was reported at $7.53 million, versus $7.10 million, reported for the last fiscal. Non-interest expenses for the period moved up to $20.87 million from $19.30 million of last year.

Meanwhile, Sierra Bancorp recorded a net benefit related to loan and lease loss provision of $0.6 million in the third quarter of 2021, relative to a provision of $2.4 million in the third quarter of 2020.

James Fisher And Sons Plc Q3 Revenue Up 7.6% – Quick Facts

While publishing a trading update on Monday, James Fisher and Sons plc (FSJ.L), said the improvement in the Fendercare ship-to-ship transfer business remains below the rate previously expected. The Group noted that customers of its Marine Contracting, Decommissioning and Nuclear businesses have further delayed projects in recent weeks. The Group continues to trade within its banking covenants. The management is performing a detailed review of cost base and balance sheet.

Third quarter revenue was 135.2 million pounds, up 7.6% from a year ago. Year to date revenue was 3.9% below prior year. The Board now expects full year underlying operating profit, before separately disclosed items, to be in the range of 27 million pounds to 32 million pounds.

Tesla shares surpass $1 trillion in value.

The electric-car maker’s latest surge came after a deal to supply vehicles to Hertz. Its stock has risen more than tenfold since March 2020.

Range Resources Shares Hit 52-Week High

Shares of Range Resources Corp. (RRC) reached a 52-week high of $26.42 Monday morning, and are currently trading at $26.14, up $1.49 or 6.04%. Trading volume is rising over 1.49 million versus an average volume of 5.11 million shares.

RRC is due to release its Q3 financial results on Tuesday, October 26 after the close of trading. Analysts polled by Thomson Reuters expect earnings of $0.53 per share on revenue of $713.17 million for the quarter. Analysts’ estimate typically exclude certain special items.

MoneyLion Continues Downtrend

MoneyLion Inc. (ML) shares are trading more than 16 percent down on Monday morning, continuing a bearish trend. There were no corporate announcements on the day to influence the stock movement.

Currently, shares are at $5.70, down 16.67 percent from the previous close of $6.84 on a volume of 2,822,259. The shares have traded in a range of $5.05-$12.90 on average volume of 680,010.

UN chief appoints Singaporean Noeleen Heyzer as new Myanmar special envoy

UNITED NATIONS (REUTERS) – UN Secretary-General Antonio Guterres on Monday (Oct 25) appointed Dr Noeleen Heyzer of Singapore as his new special envoy on Myanmar, the United Nations said in a statement.

Dr Heyzer, a former senior UN official, will replace Christine Schraner Burgener, who finishes up this weekend after more than three years in the role.

Protests and unrest have paralysed Myanmar since a Feb 1 military coup ousted Aung San Suu Kyi’s elected government.

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Synalloy Acquires DanChem For $32.950 Mln – Quick Facts

Synalloy Corporation (SYNL) has acquired DanChem, a full-service specialty chemicals contract manufacturing organization with three production plants. DanChem brings to
the company over 120 direct personnel across its three production plants.

Chris Hutter, interim president and CEO of Synalloy, said: “DanChem will bolster our chemical operations while providing significant opportunities to grow into new end-markets with a wide array of commercial offerings.”

Synalloy noted that, in 2021, DanChem is anticipated to produce approximately $30 million in revenue with an approximate 18% adjusted EBITDA margin.

Sun Communities Inc. Q3 Profit Advances

Sun Communities Inc. (SUI) released earnings for its third quarter that increased from the same period last year.

The company’s earnings came in at $231.77 million, or $2.00 per share. This compares with $81.20 million, or $0.83 per share, in last year’s third quarter.

Excluding items, Sun Communities Inc. reported adjusted earnings of $244.54 million or $2.11 per share for the period.

The company’s revenue for the quarter rose 70.9% to $684.29 million from $400.51 million last year.

Sun Communities Inc. earnings at a glance:

-Earnings (Q3): $244.54 Mln. vs. $162.62 Mln. last year.
-EPS (Q3): $2.11 vs. $1.60 last year.
-Revenue (Q3): $684.29 Mln vs. $400.51 Mln last year.

-Guidance:
Next quarter EPS guidance: $1.24 – $1.30
Full year EPS guidance: $6.44 – $6.50

Packaging Corporation of America Q3 adjusted earnings Beat Estimates

Packaging Corporation of America (PKG) released a profit for its third quarter that increased from last year.

The company’s bottom line came in at $250.7 million, or $2.63 per share. This compares with $139.1 million, or $1.46 per share, in last year’s third quarter.

Excluding items, Packaging Corporation of America reported adjusted earnings of $256.5 million or $2.69 per share for the period.

Analysts had expected the company to earn $2.34 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 18.3% to $2.00 billion from $1.69 billion last year.

Packaging Corporation of America earnings at a glance:

-Earnings (Q3): $256.5 Mln. vs. $149.2 Mln. last year.
-EPS (Q3): $2.69 vs. $1.57 last year.
-Analysts Estimate: $2.34
-Revenue (Q3): $2.00 Bln vs. $1.69 Bln last year.

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