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U.S. Factory Orders Unexpectedly Show Sharp Pullback In July

No Longer Running From My Emotions

At 19, I rejected his romantic gestures because they were too intense. At 27, I relished intensity.

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By Gabriela Fowler

ABM Industries Inc Q3 Earnings – Update

(Adds dividend)

ABM Industries Inc (ABM) declared a cash dividend of $0.195 per share, against last year’s dividend of $0.190 per share. The dividend will be paid on November 7, to the shareholders of record on October 6.

Below are the third-quarter earnings highlights for the company:

Earnings: $56.8M in Q3 vs. -$13.7 million in the same period last year.
EPS: $0.85 in Q3 vs. -$0.20 in the same period last year.
Excluding items, ABM Industries Inc reported adjusted earnings of $63.2 million or $0.94 per share for the period.

Analysts projected $0.9 per share
Revenue: $1.96 billion in Q3 vs. $1.54 billion in the same period last year.

-Guidance:
Full year EPS guidance: $3.60 to $3.70

AstraZeneca Says LYNPARZA Combination Shows Meaningful OS In Ovarian Cancer Across Phase III Trials

British drug major AstraZeneca plc (AZN.L,AZN) announced Friday positive long-term follow-up results from the PAOLA-1 and SOLO-1 Phase III trials of LYNPARZA (olaparib), with or without bevacizumab, demonstrating clinically meaningful improvements in overall survival (OS).

Lynparza is co-developed and co-commercialized by AstraZeneca and Merck & Co., Inc. (MRK), known as MSD outside the US and Canada.

Further results showed class-leading progression-free survival (PFS) in combination with bevacizumab for homologous recombination deficiency (HRD)-positive patients, versus active comparator, bevacizumab, and as monotherapy for patients with BRCA mutations, versus placebo, respectively.

Both trials which were conducted in biomarker-selected, newly diagnosed patients with advanced ovarian cancer in the first-line maintenance setting also demonstrated a consistent safety profile.

The landmark 5-year follow-up of PAOLA-1 Phase III trial demonstrated that LYNPARZA plus bevacizumab meaningfully extended survival with 65.5% of HRD-positive patients surviving 5 years vs. 48.4% treated with bevacizumab and placebo.

Meanwhile, the SOLO-1 Phase III trial demonstrated that 67% of advanced ovarian cancer patients with BRCA mutations treated with LYNPARZA were alive at 7 years vs. 47% on placebo.

Kroger Co. Q2 Profit Increases, beats estimates

Kroger Co. (KR) reported a profit for its second quarter that increased from last year and beat the Street estimates.

The company’s bottom line totaled $731 million, or $1.00 per share. This compares with $467 million, or $0.61 per share, in last year’s second quarter.

Excluding items, Kroger Co. reported adjusted earnings of $661 million or $0.90 per share for the period.

Analysts on average had expected the company to earn $0.83 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 9.3% to $34.64 billion from $31.68 billion last year.

Kroger Co. earnings at a glance (GAAP) :

-Earnings (Q2): $731 Mln. vs. $467 Mln. last year.
-EPS (Q2): $1.00 vs. $0.61 last year.
-Analyst Estimate: $0.83
-Revenue (Q2): $34.64 Bln vs. $31.68 Bln last year.

-Guidance:
Full year EPS guidance: $3.95 to $4.05

Kroger Again Boosts FY22 Outlook – Update

While reporting financial results for the second quarter on Friday, supermarket chain Kroger Co. (KR) raised its adjusted earnings and identical sales outlook for the full-year 2022.

For fiscal 2022, the company now projects adjusted earnings in a range of $3.95 to $4.05 per share on total identical sales growth, without fuel, of 4.0 to 4.5 percent.

Previously, the company expected adjusted earnings in the range of $3.85 to $3.95 per share on total identical sales growth, without fuel, of 2.5 to 3.5 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.96 per share on revenues of $147.96 billion for the year. Analysts’ estimates typically exclude special items.

Looking ahead, Chairman and CEO Rodney McMullen said, “We will continue to focus on providing affordable, fresh food to our customers, investing in wages and the associate experience, and creating zero hunger, zero waste communities because when we do those things well, we deliver attractive and sustainable shareholder returns.”

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

U.S. Factory Orders Unexpectedly Show Sharp Pullback In July

A report released by the Commerce Department on Friday unexpectedly showed a sharp pullback in new orders for U.S. manufactured goods in the month of July.

The Commerce Department said factory orders slumped by 1.0 percent in July after surging by a revised 1.8 percent in June.

The steep drop surprised economists, who had expected factory orders to edge up by 0.2 percent compared to the 2.0 percent jump originally reported for the previous month.

The unexpected pullback in factory orders was partly due to a notable decrease in orders for non-durable goods, which tumbled by 1.9 percent in July after shooting up by 1.4 percent in June.

The report also showed durable goods orders edged down by 0.1 percent in July after spiking by 2.3 percent in June. Last week, the Commerce Department said durable goods orders were virtually unchanged.

The Commerce Department also said shipments of manufactured goods slid by 0.9 percent in July following sixteen consecutive monthly increases.

Meanwhile, the report said inventories of manufactured goods inched up by 0.1 percent in July after rising by 0.4 percent in June.

With inventories edging higher and shipments falling, the inventories-to-shipments ratio ticked up to 1.47 in July from 1.46 in June.