PerkinElmer Q4 Profit Decreases, but beats estimates
Leidos Holdings, Inc. Q4 Profit Increases, beats estimates
Leidos Holdings, Inc. (LDOS) revealed earnings for its fourth quarter that increased from the same period last year and beat the Street estimates.
The company’s bottom line came in at $177 million, or $1.28 per share. This compares with $174 million, or $1.23 per share, in last year’s fourth quarter.
Excluding items, Leidos Holdings, Inc. reported adjusted earnings of $252 million or $1.83 per share for the period.
Analysts on average had expected the company to earn $1.61 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter rose 6.0% to $3.70 billion from $3.49 billion last year.
Leidos Holdings, Inc. earnings at a glance (GAAP) :
-Earnings (Q4): $177 Mln. vs. $174 Mln. last year.
-EPS (Q4): $1.28 vs. $1.23 last year.
-Analyst Estimate: $1.61
-Revenue (Q4): $3.70 Bln vs. $3.49 Bln last year.
Wesco International Inc Q4 Profit Increases, beats estimates
Wesco International Inc (WCC) released earnings for its fourth quarter that increased from last year and beat the Street estimates.
The company’s earnings came in at $204.57 million, or $3.90 per share. This compares with $153.06 million, or $2.93 per share, in last year’s fourth quarter.
Excluding items, Wesco International Inc reported adjusted earnings of $216.33 million or $4.13 per share for the period.
Analysts on average had expected the company to earn $3.79 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter rose 14.6% to $5.56 billion from $4.85 billion last year.
Wesco International Inc earnings at a glance (GAAP) :
-Earnings (Q4): $204.57 Mln. vs. $153.06 Mln. last year.
-EPS (Q4): $3.90 vs. $2.93 last year.
-Analyst Estimate: $3.79
-Revenue (Q4): $5.56 Bln vs. $4.85 Bln last year.
Gold Edges Higher Ahead Of US Inflation Data
Gold prices inched higher on Tuesday, the dollar fell broadly, and global bond yields were mixed as investors awaited speeches from top Fed officials as well as the all-important U.S. consumer price inflation report due later in the day for further clarity on the Federal Reserve’s rate-hike path.
Expectations hint at softer print after a newly released New York Federal Reserve consumer survey showed on Monday that Americans have lowered their expectations for future income growth.
Spot gold rose half a percent to $1,863.32 per ounce while U.S. gold futures were up half a percent at $1,873.40.
U.S. consumer prices are expected to show a monthly increase in January, although the annual rate of growth is expected to slow to 6.2 percent from 6.5 percent in the previous month.
A hotter-than-expected reading might force the Fed into a more aggressive posture. Options trades show some investors are anticipating a peak rate of 6 percent by September.
In Europe, euro area employment and revised gross domestic product data covering the last quarter of 2022 are due.
Germany’s wholesale prices increased at the slowest pace in twenty-one months in January, Destatis reported earlier today.
The wholesale price index rose 10.6 percent year-on-year in December, slower than the 12.8 percent rise in November.
Elsewhere, new data showed that U.K. employment rate remained steady in the final three months of 2022.
The GEO Group Inc. Q4 Earnings Summary
Below are the earnings highlights for The GEO Group Inc. (GEO):
Earnings: $41.53 million in Q4 vs. -$49.80 million in the same period last year.
EPS: $0.28 in Q4 vs. -$0.41 in the same period last year.
Excluding items, The GEO Group Inc. reported adjusted earnings of $41.84 million or $0.34 per share for the period.
Analysts projected $0.26 per share
Revenue: $620.68 million in Q4 vs. $557.54 million in the same period last year.
Oil Prices Decline On US Crude Reserve Release
Oil prices fell around 1 percent on Tuesday after the U.S. government announced it would release more crude from its Strategic Petroleum Reserve (SPR) at a time when U.S. crude markets are flush with supply.
Benchmark Brent crude futures slipped 0.7 percent to $86.01 a barrel, while WTI crude futures were down 1.1 percent at $79.28.
The U.S. crude reserve release was a surprise as traders were expecting that the release could be cancelled or delayed.
The Biden administration will release another 26 million barrels to the market from April 1st to June 30th, which will take the number of barrels in the reserve to it is lowest level since 1983 – according to international media outlets.
Investors also awaited speeches from top Federal Reserve officials and the all-important U.S. consumer price data for January due later in the day for further clarity on the Federal Reserve’s rate-hike path.
A hotter-than-expected CPI reading could force the Fed into a more aggressive posture. That could lead the world’s largest economy into a recession and curtail oil demand.
Supply concerns were also relieved somewhat after a cargo of Azeri crude set sail from Turkey’s Ceyhan port on Monday, the first since a devastating earthquake in the region on Feb. 6.
PerkinElmer Q4 Profit Decreases, but beats estimates
PerkinElmer (PKI) released earnings for fourth quarter that decreased from the same period last year but beat the Street estimates.
The company’s earnings totaled $137.658 million, or $1.09 per share. This compares with $190.184 million, or $1.50 per share, in last year’s fourth quarter.
Excluding items, PerkinElmer reported adjusted earnings of $1.70 per share for the period.
Analysts on average had expected the company to earn $1.62 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter fell 27.8% to $741.214 million from $1.027 billion last year.
PerkinElmer earnings at a glance (GAAP) :
-Earnings (Q4): $137.658 Mln. vs. $190.184 Mln. last year.
-EPS (Q4): $1.09 vs. $1.50 last year.
-Analyst Estimates: $1.62
-Revenue (Q4): $741.214 Mln vs. $1.027 Bln last year.
