Genuine Parts Co Q4 adjusted earnings of $1.52 per share
Genuine Parts Co (GPC) released earnings for its fourth quarter that rose from last year.
The company’s earnings totaled $171.20 million, or $1.18 per share. This compares with $8.92 million, or $0.06 per share, in last year’s fourth quarter.
Excluding items, Genuine Parts Co reported adjusted earnings of $220.98 million or $1.52 per share for the period.
The company’s revenue for the quarter fell 0.7% to $4.25 billion from $4.28 billion last year.
Genuine Parts Co earnings at a glance:
-Earnings (Q4): $220.98 Mln. vs. $185.72 Mln. last year.
-EPS (Q4): $1.52 vs. $1.27 last year.
-Revenue (Q4): $4.25 Bln vs. $4.28 Bln last year.
Analog Devices Guides Q2 Earnings In Line With Estimates – Quick Facts
While reporting its financial results for the first quarter on Wednesday, Analog Devices Inc. (ADI) forecast second-quarter revenue of $1.60 billion, plus or minus $50 million, reported earnings of $1.06, plus or minus $0.08, and adjusted earnings per share of $1.44, plus or minus $0.08.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.39 per share for the quarter on revenues of $1.55 billion. Analysts’ estimates typically exclude special items.
The ADI board of directors has declared a quarterly cash dividend of $0.69 per outstanding share of common stock. The dividend will be paid on March 9, 2021 to all shareholders of record at the close of business on February 26, 2021.
French government has no comment on shareholder criticism of Danone
PARIS, Feb 17 (Reuters) – The French government has no comment on criticism of Danone by its shareholders as the food group is a private company, the government spokesman told a news conference on Wednesday after a cabinet meeting.
U.S. investment firm Artisan Partners has called on French food group Danone to separate its medical nutrition business from its baby foods unit to boost returns, Le Figaro newspaper reported.
European Economics Preview: UK Consumer Price Data Due
Consumer and producer prices from the UK are due on Wednesday, headlining a light day for the European economic news.
At 2.00 am ET, the Office for National Statistics is slated to issue UK consumer and producer prices for January. Inflation is expected to remain unchanged at 0.6 percent.
UK output prices are seen falling 0.4 percent annually, while input prices to rise 0.6 percent in January.
In the meantime, the European Automobile Manufacturers’ Association is scheduled to release new car registrations data for January.
At 4.00 am ET, corporate wage data is due from Poland. Economists forecast corporate sector wages to rise 5.1 percent on year in January, slower than the 6.6 percent increase seen in December.
At 5.00 am ET, Eurostat releases euro area construction output for December. Output had increased 1.4 percent annually in November.
Genuine Parts Reinstates Full-year Outlook – Quick Facts
While reporting its financial results for the fourth quarter on Wednesday, Genuine Parts Co. (GPC) said it is reinstating its practice of providing full-year guidance and issued its financial outlook for fiscal 2021.
For fiscal 2021, Genuine Parts forecast total sales growth of 4 percent to 6 percent and earnings of $5.55 to $5.75 per share.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $5.76 per share for the year on revenue growth of 3.2 percent to $17.56 billion. Analysts’ estimates typically exclude special items.
CANADA STOCKS-TSX falls as Shopify weighs
Feb 17 (Reuters) – Canada’s main stock index fell on Wednesday after the country’s most valuable company Shopify Inc hinted revenue growth would slow this year.
* At 9:35 a.m. ET (14:35 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 192.66 points, or 1.04%, at 18,300.06.
U.S. Wholesale Inventories Rise More Than Expected In December
Wholesale inventories in the U.S. increased by more than expected in the month of December, according to a report released by the Commerce Department on Wednesday.
The Commerce Department said wholesale inventories rose by 0.3 percent in December after coming in virtually unchanged in November. Economists had expected inventories to inch up by 0.1 percent.
The bigger than expected increase in wholesale inventories came as inventories non-durable goods climbed by 0.6 percent, while inventories of durable goods crept up by 0.1 percent.
The report also said wholesale sales surged up by 1.2 percent in December after rising by 0.3 percent in the previous month.
Sales of durable goods spiked by 2.1 percent during the month, while sales of durable goods increased by 0.4 percent.
With sales jumping by much more than inventories, the inventories/sales ratio for merchant wholesalers dipped to 1.29 in December from 1.31 in November.
Next Wednesday, the Commerce Department is scheduled to release a separate report on business inventories in the month of December. Economists currently expect inventories to rise by 0.4 percent.
India offers to vaccinate all 95,000 UN peacekeepers
NEW YORK (REUTERS) – India on Wednesday (Feb 17) offered a Covid-19 vaccine to all United Nations peacekeepers – nearly 95,000 troops in 12 missions around the world.
“Keeping in mind the UN Peacekeepers who operate in such difficult circumstances, we would like to announce today a gift of 200,000 doses for them,” India’s External Affairs Minister Subrahmanyam Jaishankar told a UN Security Council meeting on the coronavirus pandemic and conflict zones.
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