European Economic News Preview: UK Retail Sales Data Due
Retail sales data from the UK is the top economic news due on Friday, headlining a light day for the European economic news.
At 2.00 am ET, the Office for National Statistics releases UK retail sales data for January. Sales are forecast to fall 0.3 percent on month, slower than the 1.0 percent decline in December.
In the meantime, Destatis is set to issue Germany’s producer prices for January. Economists expect producer price inflation to ease to 16.4 percent from 21.6 percent in December.
Half an hour later, Swiss industrial production for the fourth quarter is due.
At 2.45 am ET, France’s Insee is slated to release final consumer and harmonized prices for January. Consumer price inflation is expected to rise slightly to 6.0 percent, in line with flash estimate, from 5.9 percent in December.
At 4.00 am ET, the European Central Bank is slated to issue euro area current account for December. The current account surplus totaled EUR 13.4 billion in January.
Marcus & Millichap Inc. Bottom Line Falls In Q4, but beats estimates
Marcus & Millichap Inc. (MMI) announced a profit for fourth quarter that decreased from last year but beat the Street estimates.
The company’s bottom line totaled $7.91 million, or $0.20 per share. This compares with $62.00 million, or $1.53 per share, in last year’s fourth quarter.
Analysts on average had expected the company to earn $0.19 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter fell 47.0% to $262.45 million from $495.13 million last year.
Marcus & Millichap Inc. earnings at a glance (GAAP) :
-Earnings (Q4): $7.91 Mln. vs. $62.00 Mln. last year.
-EPS (Q4): $0.20 vs. $1.53 last year.
-Analyst Estimates: $0.19
-Revenue (Q4): $262.45 Mln vs. $495.13 Mln last year.
PPL Corporation Q4 Profit Increases, Inline With Estimates
PPL Corporation (PPL) revealed earnings for its fourth quarter that increased from last year in line with the Street estimates.
The company’s bottom line came in at $190 million, or $0.26 per share. This compares with $134 million, or $0.18 per share, in last year’s fourth quarter.
Excluding items, PPL Corporation reported adjusted earnings of $209 million or $0.28 per share for the period.
Analysts on average had expected the company to earn $0.28 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter rose 53.7% to $2.29 billion from $1.49 billion last year.
PPL Corporation earnings at a glance (GAAP) :
-Earnings (Q4): $190 Mln. vs. $134 Mln. last year.
-EPS (Q4): $0.26 vs. $0.18 last year.
-Analyst Estimate: $0.28
-Revenue (Q4): $2.29 Bln vs. $1.49 Bln last year.
Deere Climbs On Surge In Q1 Profit
Deere & Co. (DE) shares are gaining more than 5 percent on Friday morning trade after the company reported 117 percent increase in first quarter earnings supported by 32 percent growth in revenues.
The company’s quarterly earnings grew to $1959 billion from $903 billion in the prior year. On a per-share basis, earnings were $6.55, up from $2.92 last year.
Revenue for the first quarter increased to $12.65 billion from $9.57 billion a year ago.
Looking ahead to fiscal 2023, the company expects net income in the range of $8.75 – $9.25 billion.
Currently, shares are at $425.97, up 5.71 percent from the previous close of $402.96 on a volume of 1,128,501.
American Axle Sees FY23 Sales In Line With View; Q4 Adj. EPS Miss Estimates
While reporting financial results for the fourth quarter on Friday, American Axle & Manufacturing Holdings, Inc. or AAM (AXL) initiated its sales guidance for the full-year 2023.
For fiscal 2023, the company now projects sales in the range of $5.95 billion to $6.25 billion.
On average, eight analysts polled by Thomson Reuters expect the company to report sales of $5.98 billion for the year.
For the fourth quarter, the company reported net income attributable to AAM of $13.9 million or $0.11 per share, compared to a net loss of $46.3 million or $0.41 per share in the prior-year quarter.
Excluding items, adjusted loss for the quarter were $0.07 per share, compared to adjusted loss of $0.09 per share in the year-ago quarter.
Net sales for the quarter increased to $1.39 billion from $1.24 billion in the same quarter last year.
The Street was looking for earnings of $0.01 per share on sales of $1.39 billion for the quarter. Analysts’ estimates typically exclude special items.
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Pediatrix Medical Group Inc Profit Retreats In Q4, misses estimates
Pediatrix Medical Group Inc (MD) announced earnings for fourth quarter that decreased from the same period last year and missed the Street estimates.
The company’s earnings totaled $29.659 million, or $0.36 per share. This compares with $47.516 million, or $0.55 per share, in last year’s fourth quarter.
Analysts on average had expected the company to earn $0.48 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter rose 3.1% to $513.844 million from $498.530 million last year.
Pediatrix Medical Group Inc earnings at a glance (GAAP) :
-Earnings (Q4): $29.659 Mln. vs. $47.516 Mln. last year.
-EPS (Q4): $0.36 vs. $0.55 last year.
-Analyst Estimates: $0.48
-Revenue (Q4): $513.844 Mln vs. $498.530 Mln last year.