Timken Co. Q3 adjusted earnings Beat Estimates

European Economics Preview: Eurozone Final Factory PMI Data Due

Factory Purchasing Managers’ survey results from Eurozone and other major euro area economies are due on Tuesday, headlining a light day for the European economic news.

At 3.30 am ET, the Federal Statistical Office releases Swiss consumer prices and retail sales data. Inflation is forecast to rise to 1.1 percent in October from 0.9 percent in September.

At 4.00 am ET, producer prices and foreign trade reports are due from Hungary.

At 4.15 am ET, Spain’s manufacturing PMI data is due. Economists forecast the index to remain unchanged at 58.1 in October.

At 4.45 am ET, IHS Markit releases Italy’s manufacturing PMI survey results. The index is seen at 59.7 in October, unchanged from September.

Thereafter, final PMI survey results are due from France and Germany at 4.50 and 4.55 am ET, respectively.

At 5.00 am ET, Eurozone final factory PMI is due. The final reading is seen at 58.5 in October, in line with flash estimate.

Coca-Cola HBC AG Q3 FX-neutral Revenues Up 17.1%; Reiterates 2021 Guidance

Coca-Cola HBC AG, a strategic bottling partner of The Coca-Cola Company, said its FX-neutral revenues increased 17.1% year-over-year in third quarter. The company reiterated its guidance for 2021 of a strong recovery in FX-neutral revenues and a 20-30bps EBIT margin expansion.

Third quarter net sales revenue was 2.12 billion euros, up 16.1% on a reported basis. Volume growth was 13.1%, supported by priority categories in 24/7 portfolio, the company said.

Coca-Cola HBC said it is on track to complete the acquisition of Coca-Cola Bottling Company of Egypt by first quarter, 2022.

American Financial Group Q3 adjusted earnings Beat Estimates

American Financial Group (AFG) reported earnings for its third quarter that advanced from last year.

The company’s bottom line totaled $219 million, or $2.56 per share. This compares with $164 million, or $1.86 per share, in last year’s third quarter.

Excluding items, American Financial Group reported adjusted earnings of $231 million or $2.71 per share for the period.

Analysts had expected the company to earn $1.86 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 12.2% to $1.75 billion from $1.56 billion last year.

American Financial Group earnings at a glance:

-Earnings (Q3): $231 Mln. vs. $121 Mln. last year.
-EPS (Q3): $2.71 vs. $1.38 last year.
-Analysts Estimate: $1.86
-Revenue (Q3): $1.75 Bln vs. $1.56 Bln last year.

Maruti, Hyundai October sales fall on supply woes

Chip shortage drives double-digit slide

Leading carmakers Maruti Suzuki India (MSI) and Hyundai witnessed a double-digit drop in sales in October on account of the global semiconductor shortage impacting production. Kia India and Honda Cars also saw a fall in dispatches from a year earlier.

Tata, M&M buck trend

However, companies such as Tata Motors, Mahindra & Mahindra (M&M), Nissan and Skoda managed to show growth last month despite supply chain challenges.

The country’s largest carmaker (MSI) said domestic sales slipped 32% to 1,17,013 units last month as against 1,72,862 units in October 2020. Rival Hyundai Motor India reported a 35% decline in domestic sales to 37,021 units. It had dispatched 56,605 units to dealers in October 2020.

The global semiconductor supply constraint continues to be a challenge, resulting in lower production across the industry, it said.

Kia India witnessed a 22% decline in wholesales to 16,331 units, while Honda Cars saw domestic dispatches slide 25% to 8,108.

M&M said domestic passenger vehicle sales rose 8% to 20,130 units. Tata Motors reported a 44% jump in domestic passenger vehicles to 33,925 units in October compared with 23,617 a year earlier. Nissan India’s domestic wholesales rose over threefold to 3,913 units, while Skoda reported a more than twofold jump to 3,065 units.

Terminix Global Q3 Adj. EPS Tops Estimates; Boosts FY21 Revenue Outlook – Quick Facts

Terminix Global Holdings, Inc. (TMX) reported Tuesday that third-quarter net income was $38 million or $0.31 per share, compared to a net loss of $7 million or $0.06 per share in the prior-year quarter.

Excluding items, adjusted earnings were $0.41 per share, compared to $0.26 per share in the year-ago quarter.

Total revenue for the quarter increased 4 percent to $530 million from $512 million in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.38 per share on revenues of $531.53 million for the quarter. Analysts’ estimates typically exclude special items.

Looking ahead to fiscal 2021, the company now expects revenues between $2.035 billion and $2.050 billion, up from the prior forecast range of$2.025 billion to $2.050 billion, to reflect increased acquisitions in the third quarter. Organic revenue is expected to remain between three and four percent. The Street was looking for revenues of $2.04 billion for the year.

Timken Co. Q3 adjusted earnings Beat Estimates

Timken Co. (TKR) released earnings for third quarter that fell from last year.

The company’s earnings came in at $88.1 million, or $1.14 per share. This compares with $88.8 million, or $1.16 per share, in last year’s third quarter.

Excluding items, Timken Co. reported adjusted earnings of $91.0 million or $1.18 per share for the period.

Analysts 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 16.3% to $1.04 billion from $894.6 million last year.

Timken Co. earnings at a glance:

-Earnings (Q3): $91.0 Mln. vs. $86.4 Mln. last year.
-EPS (Q3): $1.18 vs. $1.13 last year.
-Analysts Estimate: $1.17
-Revenue (Q3): $1.04 Bln vs. $894.6 Mln last year.