HCA Healthcare, Inc. Q1 Profit Increases, beats estimates

HCA Healthcare, Inc. (HCA) released a profit for its first quarter that increased from last year and beat the Street estimates.

The company’s earnings came in at $1.36 billion, or $4.85 per share. This compares with $1.27 billion, or $4.14 per share, in last year’s first quarter.

Excluding items, HCA Healthcare, Inc. reported adjusted earnings of $1.39 billion or $4.93 per share for the period.

Analysts on average had expected the company to earn $3.93 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 4.3% to $15.59 billion from $14.95 billion last year.

HCA Healthcare, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $1.36 Bln. vs. $1.27 Bln. last year.
-EPS (Q1): $4.85 vs. $4.14 last year.
-Analyst Estimate: $3.93
-Revenue (Q1): $15.59 Bln vs. $14.95 Bln last year.

-Guidance:
Full year EPS guidance: $17.25 to $18.55
Full year revenue guidance: $62.5 to $64.5 Bln

Procter & Gamble Co. Profit Rises In Q3, Beats estimates

Procter & Gamble Co. (PG) released earnings for its third quarter that increased from the same period last year and beat the Street estimates.

The company’s earnings totaled $3.40 billion, or $1.37 per share. This compares with $3.36 billion, or $1.33 per share, in last year’s third quarter.

Analysts on average had expected the company to earn $1.32 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 3.6% to $20.07 billion from $19.38 billion last year.

Procter & Gamble Co. earnings at a glance (GAAP) :

-Earnings (Q3): $3.40 Bln. vs. $3.36 Bln. last year.
-EPS (Q3): $1.37 vs. $1.33 last year.
-Analyst Estimate: $1.32
-Revenue (Q3): $20.07 Bln vs. $19.38 Bln last year.

Regions Financial Corp. Announces Climb In Q1 Profit, but misses estimates

Regions Financial Corp. (RF) revealed a profit for its first quarter that increased from the same period last year but missed the Street estimates.

The company’s earnings totaled $588 million, or $0.62 per share. This compares with $524 million, or $0.55 per share, in last year’s first quarter.

Analysts on average had expected the company to earn $0.66 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 21.9% to $1.95 billion from $1.60 billion last year.

Regions Financial Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $588 Mln. vs. $524 Mln. last year.
-EPS (Q1): $0.62 vs. $0.55 last year.
-Analyst Estimate: $0.66
-Revenue (Q1): $1.95 Bln vs. $1.60 Bln last year.

Oil Subdued As Recession Worries Weigh

Oil prices edged lower on Friday, extending losses from the previous two sessions and heading for a hefty weekly loss on concerns that the U.S. economy is heading toward recession.

Benchmark Brent crude futures slipped 0.2 percent to $80.96 a barrel, while WTI crude futures were down 0.1 percent at $77.25.

As economic and interest-rate uncertainty weigh, the U.S. economy is seen falling into recession later this year.

According to the minutes of the latest Federal Reserve Policy meeting, officials projected a ‘mild recession’ starting later this year, with a recovery expected in 2024-2025.

A slew of data released on Thursday showed weekly jobless claims surged last week, manufacturing activity in the mid-Atlantic region plunged to its lowest level in 3 years in April and existing home sales fell in March.

U.S. crude oil inventories fell more than forecast last week, Energy Information Administration data showed earlier this week, but gasoline stockpiles jumped unexpectedly on disappointing demand.

Schlumberger Ltd. Q1 Profit Increases, beats estimates

Schlumberger Ltd. (SLB) reported earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company’s earnings totaled $934 million, or $0.65 per share. This compares with $510 million, or $0.36 per share, in last year’s first quarter.

Excluding items, Schlumberger Ltd. reported adjusted earnings of $906 million or $0.63 per share for the period.

Analysts on average had expected the company to earn $0.60 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 29.9% to $7.74 billion from $5.96 billion last year.

Schlumberger Ltd. earnings at a glance (GAAP) :

-Earnings (Q1): $934 Mln. vs. $510 Mln. last year.
-EPS (Q1): $0.65 vs. $0.36 last year.
-Analyst Estimate: $0.60
-Revenue (Q1): $7.74 Bln vs. $5.96 Bln last year.

UK Deputy Prime Minister Dominic Raab Quits Over Bullying Report

UK Deputy Prime Minister Dominic Raab has stepped down over a report investigating bullying allegations against him.

Raab, who also held the posts of Justice Secretary and Lord Chancellor, had promised to resign if the inquiry found evidence of bullying.

In his letter of resignation, sent to Prime Minister Rishi Sunak, Raab said the investigation by senior lawyer Adam Tolley KC dismissed all but two of the claims against him.

He criticized what he called its flawed findings, saying it sets a “dangerous precedent for the conduct of good government.”

“In setting the threshold for bullying so low, this inquiry has set a dangerous precedent. It will encourage spurious complaints against Ministers, and have a chilling effect on those driving change on behalf of your government – and ultimately the British people,” says the letter that Raab posted on Twitter.

In his opinion, ministers must be able to exercise direct oversight with respect to senior officials over critical negotiations. “Otherwise the democratic and constitutional principle of ministerial responsibility will be lost.”

Raab was investigated on eight formal complaints lodged by several civil servants about his behavior while acting as Foreign Secretary, Brexit Secretary and Justice Secretary.

Prime Minister Sunak has not reacted to the news of the resignation of his close ally from the Cabinet.