Triumph Group Boosts FY21 Adj. EPS Outlook – Quick Facts

Direct Line Insurance Premiums Rise In Q3

Direct Line Insurance Group Plc (DLG), a British insurance company, on Tuesday reported a rise in its gross written premiums for the third-quarter of current fiscal, with an increase in the company’s commercial insurance segment. In addition, the insurance provider reiterated its guidance for the current fiscal.

The UK-based insurer reported a rise in its Gross written premiums at 857.1 million pounds for the September quarter, compared to 851.5 million pounds, reported for the same period last year.

The premiums for commercial insurance was reported at 153.4 million pounds for the thirteen-week period ended on September 30, as against 136.5 million pounds recorded for the same quarter of last fiscal.

For the quarter, the Group’s Motor, Home, and Rescue and other personal lines insurance segments reported a decline in their gross written premiums at 440.9 million pounds, 154.9 million pounds, and 107.9 million pounds, respectively, compared to 447.2 million pounds, 156.6 million pounds, and 111.2 million pounds, reported for the third quarter of 2020.

Amidst a firm business momentum reported during the third-quarter and positive market cues, the company has reiterated its previous outlook for the medium-term target to achieve a combined operating ratio in the range of 93 percent – 95 percent.

For the fiscal 2021, following lower than normal claims frequency in Motor and strong prior-year reserve releases, insurance provider continues to expect a combined operating ratio to be in the range of 90 percent to 92 percent.

Savills Sees 2021 Profits Materially Ahead Of 2019

Savills plc (SVS), a U.K.- based business providing real estate services globally, on Tuesday said that for the current year, it expects to achieve profit materially ahead of 2019. The company said that since June, it has recorded good performance, particularly in the UK and Asia Pacific regions.

Continental Europe and Middle East, as well as North America, witnessed anticipated levels of recovery but have not returned to the 2019 levels of activity. Savills Investment Management too has exceeded expectations, bolstered by the early exercise of the option to acquire the remaining interests in DRC Capital LLP and its strong performance since May, the company said in a statement.

Due to the strength of the prime residential markets, which is expected to witness drop in market volumes only in 2022, as well as the improvements in the commercial capital transaction markets, the U.K. business is expected to materially exceed earlier expectations for 2021 and the outturn for 2019.

Shares of Savills plc closed Monday’s trading at $1,420 pounds, up 6 pounds or 0.42 percent from previous close.

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Triumph Group Inc. Q2 adjusted earnings Beat Estimates

Below are the earnings highlights for Triumph Group Inc. (TGI):

-Earnings: -$9.07 million in Q2 vs. -$33.49 million in the same period last year.
-EPS: -$0.14 in Q2 vs. -$0.64 in the same period last year.
-Excluding items, Triumph Group Inc. reported adjusted earnings of $6.41 million or $0.10 per share for the period.
-Analysts projected $0.09 per share
-Revenue: $357.40 million in Q2 vs. $481.82 million in the same period last year.

Full year EPS guidance: $0.68 – $0.88
Full year revenue guidance: $1.5 – $1.6 Bln

Oil Extends Gains For Third Day

Oil prices rose on Tuesday amid renewed bets on the recovery of oil demand after the United States lifted travel restrictions to several countries.

Brent crude futures for January delivery rose 60 cents, or 0.7 percent, to $84.03 a barrel, after gaining 0.8 percent on Monday. WTI crude futures for December settlement were up 63 cents, or 0.8 percent, at $82.56.

Oil extended gains for a third straight session after the U.S. lifted restrictions on travel from a long list of countries including Mexico, Canada and most of Europe.

Starting from Monday, the U.S. is accepting fully vaccinated travelers at airports and land borders, doing away with a COVID-19 restriction that dates back to the Trump administration.

As vaccinations increase and restrictions ease, analysts expect jet fuel demand to receive a healthy boost.

The passing of the $1 trillion U.S. infrastructure bill in Congress and better-than-expected Chinese exports data also helped lift the outlook for fuel demand.

JPMorgan Chase said global demand for oil in November was already nearly back to pre-pandemic levels of 100 million barrels per day (bpd), following last year’s collapse.

As supply remains tight, U.S. President Biden is expected to take measures as early as this week to address soaring gasoline prices.

Triumph Group Boosts FY21 Adj. EPS Outlook – Quick Facts

While reporting financial results for the second quarter on Tuesday, Triumph Group, Inc. (TGI) raised its adjusted earnings outlook for the full-year 2021, while maintaining annual net sales guidance.

For fiscal 2021, the company continue to project reported results between a loss of $0.15 per share and earnings of $0.05 per share on net sales between $1.50 billion to $1.60 billion.

However, the company raised its adjusted earnings outlook to a range of $0.68 to $0.88 per share from the prior range of $0.41 to $0.61 per share.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.57 per share on sales of $1.86 billion for the year. Analysts’ estimates typically exclude special items.

The Company said its outlook reflects adjustments detailed in the attached tables and excludes the impacts of any potential future divestitures.