Selective Insurance Group Inc Q3 Profit Decreases, misses estimates

Sun Life Financial Inc. Q3 Profit Decreases, but beats estimates

Sun Life Financial Inc. (SLF.TO) reported earnings for third quarter that decreased from last year but beat the Street estimates.

The company’s earnings came in at C$0.47 billion, or C$0.80 per share. This compares with C$1.02 billion, or C$1.74 per share, in last year’s third quarter.

Excluding items, Sun Life Financial Inc. reported adjusted earnings of C$0.95 billion or C$1.62 per share for the period.

Analysts on average had expected the company to earn C$1.45 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

Sun Life Financial Inc. earnings at a glance (GAAP) :

-Earnings (Q3): C$0.47 Bln. vs. C$1.02 Bln. last year.
-EPS (Q3): C$0.80 vs. C$1.74 last year.
-Analyst Estimates: C$1.45

Stocks end sharply lower as the Fed leaves investors wondering what will happen next.

The Fed chair said the central bank “still has a ways to go” before it will be done raising interest rates, and that rates may go higher than previously anticipated.

Send any friend a story

As a subscriber, you have 10 gift articles to give each month. Anyone can read what you share.

By Joe Rennison

S&P 500

Ansys Inc Q3 Profit Increases, beats estimates

Ansys Inc (ANSS) revealed earnings for its third quarter that increased from the same period last year and beat the Street estimates.

The company’s bottom line came in at $96.0 million, or $1.10 per share. This compares with $85.3 M, or $0.97 per share, in last year’s third quarter.

Excluding items, Ansys Inc reported adjusted earnings of $154.7 million or $1.77 per share for the period.

Analysts on average had expected the company to earn $1.63 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 7.1% to $472.5 M from $441.2 million last year.

Ansys Inc earnings at a glance (GAAP) :

-Earnings (Q3): $96.0 Mln. vs. $85.3 M. last year.
-EPS (Q3): $1.10 vs. $0.97 last year.
-Analyst Estimate: $1.63
-Revenue (Q3): $472.5 M vs. $441.2 Mln last year.

-Guidance:
Next quarter EPS guidance: $2.58 – $2.90
Next quarter revenue guidance: $621.8 – $656.8 Mln
Full year EPS guidance: $7.48 – $7.80
Full year revenue guidance: $2,000 – $2,035 Mln

Perpetual rejects takeover bid from EGT, Regal

Fund manager Perpetual has rejected a takeover bid for the company as too low, saying it intends to push ahead with its plan to buy rival manager Pendal.

Amid a trend towards consolidation in funds management, Perpetual on Thursday morning told the ASX it had received a conditional, non-binding indicative $30-a-share bid for the company from a consortium comprising BPEA Private Equity Fund VIII and Regal Partners.

Perpetual CEO Rob Adams. The company’s board says that it is “not in the best interests of its shareholders to engage on this offer”.Credit:James Brickwood

Perpetual shares closed at $26.90 on Wednesday. Perpetual said the offer “materially” undervalued the company.

“This offer is uncertain and conditional and the Perpetual board believes that it is not in the best interests of its shareholders to engage on this offer and has therefore rejected the offer,” the company said in a statement.

Perpetual said it remained committed to its plan to buy rival Pendal, which was previously known as BT Investment Management.

More to come

The Business Briefing newsletter delivers major stories, exclusive coverage and expert opinion. Sign up to get it every weekday morning.

Most Viewed in Business

Infinera Corp. Q3 Earnings Summary

Below are the earnings highlights for Infinera Corp. (INFN):

Earnings: -$11.93 million in Q3 vs. -$53.79 million in the same period last year.
EPS: -$0.05 in Q3 vs. -$0.26 in the same period last year.
Excluding items, Infinera Corp. reported adjusted earnings of $9.92 million or $0.05 per share for the period.

Analysts projected $0.01 per share
Revenue: $390.45 million in Q3 vs. $355.81 million in the same period last year.

-Guidance:
Next quarter revenue guidance: $420 – $450 Mln

Selective Insurance Group Inc Q3 Profit Decreases, misses estimates

Selective Insurance Group Inc (SIGI) reported a profit for third quarter that decreased from last year and missed the Street estimates.

The company’s bottom line totaled $40.2 million, or $0.66 per share. This compares with $71.4 million, or $1.18 per share, in last year’s third quarter.

Excluding items, Selective Insurance Group Inc reported adjusted earnings of $60.5 million or $0.99 per share for the period.

Analysts on average had expected the company to earn $1.17 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 3.5% to $895.0 million from $865.0 million last year.

Selective Insurance Group Inc earnings at a glance (GAAP) :

-Earnings (Q3): $40.2 Mln. vs. $71.4 Mln. last year.
-EPS (Q3): $0.66 vs. $1.18 last year.
-Analyst Estimates: $1.17
-Revenue (Q3): $895.0 Mln vs. $865.0 Mln last year.