Sun Communities Inc. Q2 adjusted earnings Beat Estimates

Sun Communities Inc. (SUI) released earnings for its second quarter that increased from last year.

The company’s earnings totaled $110.77 million, or $0.98 per share. This compares with $58.91 million, or $0.61 per share, in last year’s second quarter.

Excluding items, Sun Communities Inc. reported adjusted earnings of $209.62 million or $1.80 per share for the period.

Analysts had expected the company to earn $0.59 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 99.1% to $603.86 million from $303.27 million last year.

Sun Communities Inc. earnings at a glance:

-Earnings (Q2): $209.62 Mln. vs. $110.33 Mln. last year.
-EPS (Q2): $1.80 vs. $1.12 last year.
-Analysts Estimate: $0.59
-Revenue (Q2): $603.86 Mln vs. $303.27 Mln last year.

-Guidance:
Next quarter EPS guidance: $2.00 – $2.06
Full year EPS guidance: $6.25 – $6.37

Alexandria Real Estate Equities, Inc. Q2 adjusted earnings Beat Estimates

Alexandria Real Estate Equities, Inc. (ARE) reported a profit for its second quarter that rose from last year.

The company’s earnings came in at $380.56 million, or $2.61 per share. This compares with $266.60 million, or $1.82 per share, in last year’s second quarter.

Excluding items, Alexandria Real Estate Equities, Inc. reported adjusted earnings of $282.25 million or $1.93 per share for the period.

Analysts had expected the company to earn $0.63 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 16.6% to $509.62 million from $436.96 million last year.

Alexandria Real Estate Equities, Inc. earnings at a glance:

-Earnings (Q2): $282.25 Mln. vs. $225.01 Mln. last year.
-EPS (Q2): $1.93 vs. $1.81 last year.
-Analysts Estimate: $0.63
-Revenue (Q2): $509.62 Mln vs. $436.96 Mln last year.

-Guidance:
Full year EPS guidance: $7.71 to $7.79

EARNINGS SUMMARY: Details of Helix Energy Solutions Q2 Earnings Report

Below are the earnings highlights for Helix Energy Solutions (HLX):

-Earnings: -$13.71 million in Q2 vs. $5.45 million in the same period last year.
-EPS: -$0.09 in Q2 vs. $0.04 in the same period last year.
-Analysts projected -$0.08 per share
-Revenue: $161.94 million in Q2 vs. $199.15 million in the same period last year.

Tesla second-quarter profits top $1bn even as it struggles to handle demand

A global shortfall of semiconductors has affected the Tesla supply chain as well as car manufacturers across the world

Last modified on Mon 26 Jul 2021 18.00 EDT

Tesla made a profit of more than $1bn in the last three months even as it struggled to keep up with demand for electric cars in the face of a global chip shortage.

The company announced Monday that it has made a profit of $1.14bn in its second quarter, 10 times what it made a year ago and its eighth quarter of back-to-back profits.

Tesla has already reported deliveries of 201,250 electric vehicles, and production of 206,421 total vehicles, during the quarter ending 30 June.

Car manufacturers across the world have struggled to keep up with demand amid a shortfall of semiconductors.

“Our biggest challenge is supply chain, especially microcontroller chips. Never seen anything like it,” said Elon Musk, Tesla’s chief executive, in June. “Fear of running out is causing every company to over-order – like the toilet-paper shortage, but at epic scale.”

The company has pivoted to using other suppliers and the shortage has not dampened enthusiasm for its vehicles, especially Tesla’s Model Y compact sport-utility vehicle, the most popular all-electric vehicle in the US.

“Public sentiment and support for electric vehicles seems to be at a never-before-seen inflection point,” the company said in a statement.

The company’s shares rose more than 2% in after hours trading.

Oil Search Q2 Total Production Down 9.6%; Backs FY Production Outlook

Oil Search Ltd (OSH.AX) reported that its second-quarter total production declined 9.6% to 6.59 million barrels of oil equivalent or mmboe, from last year. Total sales were 6.70 mmboe, down from 6.79 mmboe in the previous year.

But quarterly operating revenue was US$366.2 million, up from US$266.2 million in the prior year.

The company said it is on track to deliver full year 2021 production and capex guidance. It still expects annual total production to be in the range of 25.5 mmboe – 28.5 mmboe and total investment expenditure of US$250 million – US$350 million.

The company’s first half results will be issued to the market on 24 August 2021.

Flora Duffy wins triathlon, first gold medal for Bermuda at Tokyo Olympics

Let’s Talk Olympics

Tokyo Olympics: Gold and silver for Team GB in men’s 200m freestyle

Tom Dean and Duncan Scott have won gold and silver respectively for Team GB in the men’s 200m freestyle.

Scott had qualified fastest for the final but it was his teammate Dean who held his form to win the second gold in the pool for Team GB at these games.

The bronze went to Brazil’s Fernando Scheffer.

South Korea's Q2 GDP grows at fastest annual pace in a decade

SEOUL, July 27 (Reuters) – South Korea’s economy expanded at the fastest annual pace in a decade in the second quarter thanks to a pick up in consumption, data from the Bank of Korea showed on Tuesday.

Gross domestic product (GDP) expanded 5.9% year-on-year in the April-June after rising 1.9% in the first quarter, just shy of 6.0% growth tipped in a Reuters survey.

Asia’s fourth-largest economy grew a seasonally adjusted 0.7% in the second quarter from three months earlier, matching a 0.7% rise seen in the survey, advanced estimates from the BOK showed.