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Exxon Mobil Q4 Adj. Earnings Beat Estimates, But Revenues Miss – Quick Facts

Sysco Corp. Q2 adjusted earnings Miss Estimates

Sysco Corp. (SYY) reported earnings for second quarter that dropped from the same period last year.

The company’s bottom line came in at $67.29 million, or $0.13 per share. This compares with $383.41 million, or $0.74 per share, in last year’s second quarter.

Excluding items, Sysco Corp. reported adjusted earnings of $85.86 million or $0.17 per share for the period.

Analysts had expected the company to earn $0.34 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter fell 23.1% to $11.56 billion from $15.03 billion last year.

Sysco Corp. earnings at a glance:

-Earnings (Q2): $85.86 Mln. vs. $437.80 Mln. last year.
-EPS (Q2): $0.17 vs. $0.85 last year.
-Analysts Estimate: $0.34
-Revenue (Q2): $11.56 Bln vs. $15.03 Bln last year.

HCA Healthcare Reinstates Quarterly Dividend Program – Quick Facts

HCA Healthcare, Inc. (HCA) said its Board of Directors reinstated quarterly dividend program and declared a quarterly cash dividend of $0.48 per share on common stock. The dividend will be paid on March 31, 2021 to stockholders of record at the close of business on March 17, 2021.

HCA Healthcare announced that its Board authorized the resumption of its share repurchase program, pursuant to which $2.8 billion remained available for utilization prior to its suspension. The Board has also authorized a share repurchase program for up to an additional $6 billion of outstanding common stock.

For 2021, the company projects: EPS in a range of $12.10 to $13.10; adjusted EBITDA of $10.3 to $10.9 billion; and revenues of $53.5 to $55.5 billion. Capital expenditures are estimated to be approximately $3.7 billion.

Fourth quarter earnings per share was $4.13 compared to $3.09, a year ago. On average, 18 analysts polled by Thomson Reuters expected the company to report profit per share of $3.60, for the quarter. Analysts’ estimates typically exclude special items. Adjusted EBITDA increased to $3.12 billion from $2.74 billion.

Fourth quarter revenues rose to $14.29 billion, from $13.52 billion. Analysts expected revenue of $13.99 billion, for the quarter.

US Reimposes Covid-19 Travel Restrictions From Europe, Brazil

In an action to reduce the spread of COVID-19 through travel, President Joe Biden signed a presidential proclamation imposing air travel restrictions on incoming non-US travelers to the United States from 26 European countries in the Schengen Zone, the UK, Ireland and Brazil.

In the light of the more contagious new variant of the coronavirus, South Africa also has been added to the restricted list.

Additionally, beginning Tuesday, all travelers who fly in to the United States will be required to show a negative coronavirus test within three days before their U.S.-bound flight.

The White House said Biden took the decision on advice of his administration’s medical and COVID team. “With the pandemic worsening and more contagious variants spreading, this isn’t the time to be lifting restrictions on international travel,” White House Press Secretary Jen Psaki said.

Issuing an executive order lifting travel restrictions for much of Europe and Brazil, imposed in March last year to restrict coronavirus-infection from abroad, was one of his last actions Donald Trump took as U.S. President.

Trump had ordered on January 18 that the restrictions would become ineffective on January 26.

Psaki said on Monday that the White House press office will begin public health briefings on Wednesday, and that it “will be done regularly for the foreseeable future.”

ManpowerGroup Q4 Profit Declines, But Results Beat View – Quick Facts

ManpowerGroup Inc. (MAN) on Tuesday reported fourth-quarter net earnings of $76.2 million or $1.33 per share, down from $138.8 million or $2.33 per share in the year-ago period.

The latest quarter included restructuring costs which reduced earnings per share by $0.15. Excluding the restructuring costs, adjusted earnings were $1.48 per share.

Revenues for the quarter declined 2.7 percent to $5.05 billion from $5.20 billion last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.13 per share for the quarter on revenues of $4.76 billion. Analysts’ estimates typically exclude special items.

Looking ahead to the first quarter, ManpowerGroup forecast earnings per share between $0.64 and $0.72, which includes an estimated favorable currency impact of $0.07. The Street expects the company to report earnings of $0.75 per share.

Brookfield Infrastructure To Divest North American District Energy Business For $4.1 Bln

Brookfield Infrastructure (BIP, BIP.UN.TO) announced Tuesday that it has signed definitive agreements to sell 100% of its North American district energy business, Enwave. The business will be divested through two separate transactions for total consideration of $4.1 billion on an enterprise value basis.

Ontario Teachers’ Pension Plan Board and IFM Investors have agreed to acquire 100% of Enwave’s Canadian business. Concurrently, QIC and Ullico have agreed to acquire 100% of Enwave’s U.S. business. Net proceeds to Brookfield are expected to be approximately $950 million.

This transaction further demonstrates continued strong execution on Brookfield’s capital recycling plans, with the proceeds from the sale expected to accretively fund a large component of its annual growth investment target of $2 billion. Each transaction is subject to customary closing conditions and closing is expected to occur in mid-2021.

Exxon Mobil Q4 Adj. Earnings Beat Estimates, But Revenues Miss – Quick Facts

Exxon Mobil Corp. (XOM) reported Tuesday that its fourth-quarter net loss attributable to the company was $20.07 billion or $4.70 per share, compared to net income of $5.69 billion or $1.33 per share in the prior-year quarter.

The latest quarter’s result included unfavorable identified items of $20.2 billion, primarily non-cash impairments.

Earnings excluding identified items for the quarter were $0.03 per share, compared to $0.41 per share last year.

Total revenues and other income fell to $46.54 billion from $67.17 billion in the prior-year quarter.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.01 per share for the quarter on revenues of $48.76 billion. Analysts’ estimates typically exclude special items.

Exxon Mobil announced the election of Tan Sri Wan Zulkiflee Wan Ariffin, former Petronas president and Group CEO, to its board of directors.

The company said it is continuing discussions with other director candidates with a range of skills sets for potential addition to its board, as part of its ongoing refreshment process. The board expects to take further action in the near term.