Oil Prices Fall On Dollar Strength

HELLA Projects Significant Market Outperformance In Light Vehicle Production By 2025

HELLA (HLKHF) said it expects annual sales growth of more than 10 percent to over 9.4 billion euros by 2025. The company said its outperformance will be driven by its market and technology leadership in the areas of Lighting, Electronics and Lifecycle Solutions. HELLA will also focus on increasing operating margin to above 8 percent of sales by 2025, driven by strong profitable growth of Electronics and a return to a benchmark profitability in Lighting, while Lifecycle Solutions sustains its double-digit profitability. Net cash flow is projected to reach around 4 percent of sales by 2025.

Bernard Schäferbarthold, CFO of HELLA, said: “In view of the massive price increases for materials, energy and logistics, we will continue to push dialogue with our
partners. Our goal is to consistently pass on at least 80 percent of these price increases.”

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Smith & Nephew Q3 Revenues Drop On Currency Impact

Medical technology company Smith & Nephew Plc on Thursday reported lower revenues in the third quarter mainly due to 600 bps FX headwind attributed to the strength of the US Dollar.

Revenue for the period stood at $1.25 billion as compared to $1.27 billion in the third quarter of the prior year, recording a decline of 1.2%. The underlying revenue growth stood at 4.8%.

Revenue for the 9 months stood at $3.85 billion as compared to $3.87 billion in the corresponding period of the prior year.

Full-year 2022 underlying revenue growth is currently expected in the middle of the previously guided range of 4.0% to 5.0%. (Around -0.8% to +0.2% on a reported basis, including a foreign exchange headwind of 480bps based on exchange rates prevailing on 28 October 2022).

The trading profit margin guidance of around 17.5% is kept unchanged.

Shares of Smith & Nephew closed Wednesday’s trading at $22.98, down $0.89 or 3.73 percent from the previous close.

Bombardier Inc. Q3 Earnings Summary

Below are the earnings highlights for Bombardier Inc. (BBD_B.TO):

Earnings: $27 million in Q3 vs. -$377 million in the same period last year.
EPS: $0.20 in Q3 vs. -$3.98 in the same period last year.
Excluding items, Bombardier Inc. reported adjusted earnings of -$2 million or -$0.10 per share for the period.

Analysts projected -$0.65 per share
Revenue: $1.455 billion in Q3 vs. $1.449 billion in the same period last year.

Iron Mountain Inc Q3 Profit Increases, beats estimates

Iron Mountain Inc (IRM) reported a profit for its third quarter that increased from last year and beat the Street estimates.

The company’s earnings came in at $192.16 million, or $0.66 per share. This compares with $67.68 million, or $0.23 per share, in last year’s third quarter.

Excluding items, Iron Mountain Inc reported adjusted earnings of $0.48 per share for the period.

Analysts on average had expected the company to earn $0.44 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 14.2% to $1.29 billion from $1.13 billion last year.

Iron Mountain Inc earnings at a glance (GAAP) :

-Earnings (Q3): $192.16 Mln. vs. $67.68 Mln. last year.
-EPS (Q3): $0.66 vs. $0.23 last year.
-Analyst Estimate: $0.44
-Revenue (Q3): $1.29 Bln vs. $1.13 Bln last year.

-Guidance:
Full year revenue guidance: $5,125 – $5,275 Mln

Teva Pharmaceutical Industries Limited Q3 Profit Decreases, misses estimates

Teva Pharmaceutical Industries Limited (TEVA) revealed earnings for third quarter that decreased from the same period last year and missed the Street estimates.

The company’s bottom line totaled $56 million, or $0.05 per share. This compares with $292 million, or $0.26 per share, in last year’s third quarter.

Excluding items, Teva Pharmaceutical Industries Limited reported adjusted earnings of $658 million or $0.59 per share for the period.

Analysts on average had expected the company to earn $0.62 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter fell 7.5% to $3.60 billion from $3.89 billion last year.

Teva Pharmaceutical Industries Limited earnings at a glance (GAAP) :

-Earnings (Q3): $56 Mln. vs. $292 Mln. last year.
-EPS (Q3): $0.05 vs. $0.26 last year.
-Analyst Estimates: $0.62
-Revenue (Q3): $3.60 Bln vs. $3.89 Bln last year.

-Guidance:
Full year EPS guidance: $2.40 – $2.60
Full year revenue guidance: $14.8 – $15.4 Bln

Idacorp Inc. Reveals Climb In Q3 Profit, Beats estimates

Idacorp Inc. (IDA) reported earnings for its third quarter that increased from last year and beat the Street estimates.

The company’s bottom line came in at $106.380M, or $2.10 per share. This compares with $97.897 million, or $1.93 per share, in last year’s third quarter.

Analysts on average had expected the company to earn $2.02 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

Idacorp Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $106.380M. vs. $97.897 Mln. last year.
-EPS (Q3): $2.10 vs. $1.93 last year.
-Analyst Estimate: $2.02

-Guidance:
Full year EPS guidance: $ 5.05 to $ 5.15

Oil Prices Fall On Dollar Strength

Oil prices fell sharply on Thursday as the dollar rallied on hawkish Fed comments and China affirmed that a zero-tolerance approach continues to be the overall strategy in tackling COVID-19.

Brent crude futures fell 1.3 percent to $94.89 a barrel, while WTI crude futures were down 1.6 percent at $88.53.

The U.S. dollar strengthened on higher bond yields after the Federal Reserve raised rates by 75 basis points, as widely expected, and signaled more increases ahead saying the Committee will consider the cumulative tightening of monetary policy while determining the pace of future increases.

Observers characterized Fed chair Jerome Powell’s comments at the press conference as more hawkish than expected.

Powell warned that thoughts about a potential pause would be “very premature”, and that the Fed hasn’t “overtightened” yet as the battle against inflation would require borrowing costs to rise further.

Elsewhere, China once again imposed lockdown in several cities across the country and also ramped up COVID restrictions to fight a surge in fresh cases.

Health authorities reiterated adherence to the zero-COVID policy, dashing hopes around the reopening.

Also, a private survey showed earlier today that China’s service sector registered a sustained slowdown in activity as efforts to curb the spread of Covid-19 continued to disrupt business operations in October.

The Caixin services Purchasing Managers’ Index fell to 48.4 in October from 49.3 in the previous month.