Centene Cuts 2020 EPS Outlook – Quick Facts
Centene Corp.(CNC) cut its fiscal year 2020 earnings per share outlook to a range of $3.08 – $3.18 from the prior range of $3.22 – $3.32 per share.
The company reaffirmed its 2020 adjusted earnings per share guidance in range of about $4.90 to $5.06, and total revenues of $109.8 billion to $111.4 billion. Analysts polled by Thomson Reuters expected the company to report earnings of $4.99 per share and revenues of $111.27 billion for fiscal year 2020. Analysts’ estimates typically exclude special items.
Looking ahead for fiscal year 2021, the company projects earnings per share to be in the range of $3.82 – $4.06, adjusted earnings per share of $5.00 to $5.30, and total revenues of $114.1 billion – $116.1 billion. Wall Street currently is looking for fiscal year 2021 earnings of $5.44 per share on annual revenues of $115.49 billion.
Midnight Aid Deadline, Empty Midtown, SME Pain: Eco Day
Welcome to Friday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day and send you into the weekend:
- Congress is facing down amidnight deadline to pass a pandemic relief measure as part of a massive government spending bill or rush through another stopgap to keep the government funded through at least the weekend while talks continue
- Democrats notched asmall win in their bid to prove that there’s legal authority for the Federal Reserve emergency lending programs to extend past the end of the year: researchers at the Library of Congress agree with them
New York’s Midtown is still empty, and landlords are sounding the alarm
Spain Facing Concerning Pandemic Trend, Must React To Stop Surge
Spain must react right away to stop the expansion of the coronavirus pandemic given a recent change in infection trends, according to the country’s health minister.
“Spain is facing a very concerning situation with the pandemic” as the trend of infections changes in many of the country’s regions, Health Minister Salvador Illa said in a press conference Friday. “We need to react,” he said, adding that vaccination will start in the country on Dec. 27.
Illa’s comments came on the back of an agreement earlier in the week to grant Spain’s 17 regional government discretionary powers to tighten restrictions on social gatherings for the Christmas holidays. On Dec. 16, daily infections reached the highest in almost a month and this week the tally of deaths from coronavirus since the start of the pandemic surpassed 48,000.
The health minister has repeatedly said in recent weeks that people should stay at home during the Christmas season and not lower their guard to avoid fueling a surge in contagion.
Since lifting one of the world’s tightest lockdowns in June, Spanish authorities have sought to avoid the tight restrictions seen in recent weeks in European nations such as the U.K., France or Germany.
Darden Restaurants Inc. Q2 adjusted earnings
Darden Restaurants Inc. (DRI) released a profit for its second quarter that advanced from the same period last year.
The company’s earnings came in at $96.0 million, or $0.73 per share. This compares with $24.7 million, or $0.20 per share, in last year’s second quarter.
Analysts had expected the company to earn $0.71 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter fell 19.4% to $1.66 billion from $2.06 billion last year.
Darden Restaurants Inc. earnings at a glance:
-Analysts Estimate: $0.71
-Revenue (Q2): $1.66 Bln vs. $2.06 Bln last year.
Next quarter EPS guidance: $0.50 to $0.75
Lloyds Bank Scraps All Bonuses for 2020 After Pandemic Hammers Profit
Lloyds Banking Group Plc is canceling bonuses for all staff this year as the Covid-19 pandemic weighs heavily on its earnings.
A spokesperson for the bank confirmed it will not pay out any group performance share awards in light of expected profitability in 2020. The news was reported earlier by the Financial Times.
Lloyds expects to set aside at least 4.5 billion pounds ($6 billion) this year for loans likely to fail in the economic turmoil that’s accompanied the pandemic. While it swung to a profit in the third quarter, full-year net income is set to be sharply lower at about 1.1 billion pounds, compared to 2.5 billion pounds in 2019, according to data compiled by Bloomberg.
The lender had already said its group executive committee had given up their bonus entitlements for the year.
Last week, the bank and other British lenders were given permission to resume dividends from next year, after scrapping payouts in March at the behest of the Bank of England. The movecame with conditions from the regulator, including a “high degree of caution and prudence” on cash bonuses for senior staff.
A spokesperson said most staff will receive above-inflation pay increases in 2021, geared toward colleagues on lower pay.
Winnebago Industries Q1 Profit Surges, Results Beats View – Quick Facts
Winnebago Industries, Inc. (WGO), a maker of recreational vehicles and marine products, on Friday reported a surge in net income for the first quarter to $57.4 million or $1.70 per share from $14.1 million or $0.44 per share in the year-ago period.
Adjusted earnings for the quarter were$ 1.69 per share, compared to $0.73 per share in the same period last year.
Revenues for the quarter grew 34.8 percent to $793.1 million from $588.5 million in the year-ago period, which included three weeks of Newmar performance.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.98 per share for the quarter on revenues of $752.5 million. Analysts’ estimates typically exclude special items.
On December 16, 2020, Winnebago’s board of directors approved a quarterly cash dividend of $0.12 per share. The dividend is payable on January 27, 2021, to common stockholders of record at the close of business on January 13, 2021.