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Boeing Q4 Loss Sharply Narrows; Results Miss Estimates

TE Connectivity Guides Q2 Below Estimates – Quick Facts

While reporting financial results for the first quarter on Wednesday, industrial technology firm TE Connectivity Ltd. (TEL) provided earnings, adjusted earnings and sales outlook for the second quarter, below analysts’ expectations.

For the second quarter, the company projects earnings from continuing operations of about $1.44 per share and adjusted earnings of about $1.57 per share on net sales of about $3.9 billion, reflecting a decrease of 3% on a reported basis and an increase of 2% on an organic basis year over year.

On average, analysts polled by Thomson Reuters expect earnings of $1.64 per share on revenues of $3.94 billion for the year. Analysts’ estimates typically exclude special items.

TE Connectivity Ltd. Q1 Profit Decreases, but beats estimates

TE Connectivity Ltd. (TEL) revealed a profit for first quarter that decreased from the same period last year but beat the Street estimates.

The company’s earnings came in at $397 million, or $1.24 per share. This compares with $566 million, or $1.72 per share, in last year’s first quarter.

Excluding items, TE Connectivity Ltd. reported adjusted earnings of $487 million or $1.53 per share for the period.

Analysts on average had expected the company to earn $1.51 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 0.5% to $3.84 billion from $3.82 billion last year.

TE Connectivity Ltd. earnings at a glance (GAAP) :

-Earnings (Q1): $397 Mln. vs. $566 Mln. last year.
-EPS (Q1): $1.24 vs. $1.72 last year.
-Analyst Estimates: $1.51
-Revenue (Q1): $3.84 Bln vs. $3.82 Bln last year.

-Guidance:
Next quarter EPS guidance: $1.57
Next quarter revenue guidance: $3.9 Bln

Norfolk Southern Corp Q4 Profit Rises, but misses estimates

Norfolk Southern Corp (NSC) released earnings for its fourth quarter that increased from last year but missed the Street estimates.

The company’s earnings came in at $790 million, or $3.42 per share. This compares with $760 million, or $3.12 per share, in last year’s fourth quarter.

Analysts on average had expected the company to earn $3.44 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 13.7% to $3.24 billion from $2.85 billion last year.

Norfolk Southern Corp earnings at a glance (GAAP) :

-Earnings (Q4): $790 Mln. vs. $760 Mln. last year.
-EPS (Q4): $3.42 vs. $3.12 last year.
-Analyst Estimate: $3.44
-Revenue (Q4): $3.24 Bln vs. $2.85 Bln last year.

Amphenol Corp. Q4 Profit Beats Estimates

Amphenol Corp. (APH) announced earnings for fourth quarter that beat the Street estimates.

The company’s earnings came in at $507.5 million, or $0.72 per share. This compares with $453.9 million, or $0.74 per share, in last year’s fourth quarter.

Excluding items, Amphenol Corp. reported adjusted earnings of $481.3 million or $0.78 per share for the period.

Analysts on average had expected the company to earn $0.75 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 6.9% to $3.24 billion from $3.03 billion last year.

Amphenol Corp. earnings at a glance (GAAP) :

-Earnings (Q4): $507.5 Mln. vs. $453.9 Mln. last year.
-EPS (Q4): $0.72 vs. $0.74 last year.
-Analyst Estimates: $0.75
-Revenue (Q4): $3.24 Bln vs. $3.03 Bln last year.

-Guidance:
Next quarter EPS guidance: $0.65 – $0.67

Eurozone Construction Output Falls 0.8% On Lower Building Activity

Eurozone construction output contracted for the first time in three months in November, as a rise in civil engineering activity was offset by a downturn in the building sector, data from the statistical office Eurostat showed on Wednesday.

Construction output fell 0.8 percent month-over-month in November, reversing a revised 1.0 percent rise in October.

Building output logged a monthly decline of 0.9 percent, while civil engineering activity registered a growth of 0.4 percent.

On a yearly basis, the growth in construction output eased to 1.3 percent in November from 1.9 percent in the prior month. The rate for August was revised down from 2.2 percent.

Construction output in the EU27 dropped 0.4 percent monthly in November, while it grew 1.8 percent from a year ago.

Among member states, the biggest annual increases in construction output were observed in Romania, Slovenia, and Belgium, while the worst declines were seen in Spain, Slovakia, and Germany.

Results of the S&P Global’s construction purchasing managers’ index, or PMI, survey, released earlier this month, Eurozone construction activity showed its worst performance since May 2020 in December, as demand for new construction projects fell at the fastest rate since September 2014, when excluding the pandemic.

Read more: German Construction Activity Continues To Shrink

Boeing Q4 Loss Sharply Narrows; Results Miss Estimates

Aerospace giant Boeing Co. (BA) on Wednesday reported fourth-quarter net loss attributable to Boeing shareholders of $634 million or $1.06 per share, sharply narrower than $4.14 billion or $7.02 per share in the year-ago quarter.

Excluding special items, core loss for the quarter was $1.75 per share, compared to core loss of $7.69 per share in the prior-year quarter.

Total revenues for the quarter improved 35 percent to $19.98 billion from $14.79 billion in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.26 per share on revenues of $20.38 billion for the quarter. Analysts’ estimates typically exclude special items.

Commercial Airplanes revenue surged 94 percent to $9.22 billion, primarily driven by higher 737 and 787 deliveries, partially offset by 787 customer considerations. Defense, Space & Security revenue increased 5 percent to $6.18 billion and Global Services revenue increased 6 percent to $4.57 billion from last year.

During the quarter, Commercial Airplanes delivered 152 airplanes, up 54 percent from 99 airplanes in the year-ago period. It secured net orders for 376 aircraft. Commercial Airplanes backlog included over 4,500 airplanes valued at $330 billion.

Looking ahead to fiscal 2023, the continues to expect operating cash flow in a range of $4.5 billion to $6.5 billion and free cash flow in a range of $3.0 billion to $5.0 billion.

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