Oshkosh Trims FY21 Adj. EPS Outlook; Declares Dividend – Quick Facts
While reporting financial results for the third quarter on Thursday, Oshkosh Corp. (OSK) trimmed its adjusted earnings guidance for the full-year 2021, reflecting the ongoing supply chain-related challenges. The company also declared a quarterly cash dividend.
For fiscal 2021, the company now projects earnings in a range of $7.15 to $7.30 per share and adjusted earnings in a range of $6.35 to $6.50 per share.
Previously, the company expected projects earnings in a range of $6.10 to $6.60 per share and adjusted earnings in a range of $6.35 to $6.85 per share on projected net sales between $7.75 billion and $7.95 billion.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $6.84 per share on net sales of $7.88 billion for the year. Analysts’ estimates typically exclude special items.
Further, the Company’s Board of Directors today declared a quarterly cash dividend of $0.33 per share of Common Stock, payable on August 30, 2021, to shareholders of record as of August 16, 2021.
“Demand is strong across the markets where we compete, and we remain confident in the outlook for these markets. In particular, we are pleased with growing demand for access equipment, which we believe will remain strong for the foreseeable future,” said John Pfeifer, president and CEO.
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NYSE-owner ICE's second-quarter profit more than doubles
July 29 (Reuters) – Intercontinental Exchange Inc, the owner of the New York Stock Exchange, reported a jump in second-quarter profit on Wednesday, helped by the strong performance of its mortgage technology business.
Net income attributable to the company more than doubled to $1.25 billion, or $2.22 per share, for the three months ended June 30, from $523 million, or 95 cents per share, a year earlier.
PG&E Corp. Q2 adjusted earnings Miss Estimates
Below are the earnings highlights for PG&E Corp. (PCG):
-Earnings: $0.40 billion in Q2 vs. -$1.97 billion in the same period last year.
-EPS: $0.18 in Q2 vs. -$3.73 in the same period last year.
-Excluding items, PG&E Corp. reported adjusted earnings of $575 million or $0.27 per share for the period.
-Analysts projected $0.28 per share
-Revenue: $5.22 billion in Q2 vs. $4.53 billion in the same period last year.
-Guidance:
Full year EPS guidance: $0.95 to $1.05
Ian King Business Podcast: Hope for holidays, keeping up spirits, and car production shortages
Ian King speaks to the chief executive of the Society of Motor Manufacturers and Traders about how a combination of staff and supply shortages is threatening the revival of UK car production.
Plus, hear from the CEO of the world’s biggest spirits company – Diageo – about sales growth. And the president of P&O Cruises discusses the return of international cruises.
EMCOR Group Again Boosts FY21 Outlook – Quick Facts
While reporting financial results for the second quarter on Thursday, EMCOR Group, Inc. (EME) raised its earnings and revenue guidance for the full-year 2021, based on year-to-date performance and assuming a gradual improvement of current market conditions as the year progresses.
For fiscal 2021, the company now projects earnings in a range of $6.65 to $7.05 per share on revenues of about $9.5 billion.
Previously, the company expected earnings in a range of $6.35 to $6.75 per share on revenues between $9.2 billion to $9.4 billion.
On average, six analysts polled by Thomson Reuters expect the company to report earnings of $6.70 per share on revenues of $9.39 billion for the year. Analysts’ estimates typically exclude special items.
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Wu Tsang’s latest installation, a restored Art Deco hotel — and more.
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U.S. Weekly Jobless Claims Unexpectedly Climb To 419,000
A report released by the Labor Department on Thursday showed an unexpected increase in first-time claims for U.S. unemployment benefits in the week ended July 17th.
The Labor Department said initial jobless claims climbed to 419,000, an increase of 51,000 from the previous week’s revised level of 368,000.
The rebound surprised economists, who had expected jobless claims to edge down to 350,000 from the 360,000 originally reported for the previous week.
“While we expect labor market conditions to improve over the rest of 2021, the bump up in claims is a reminder that progress won’t follow a straight line,” said Nancy Vanden Houten, Lead Economist at Oxford Economics.
The report showed the less volatile four-week moving average also crept up to 385,250, an increase of 750 from the previous week’s revised average of 384,500.
Meanwhile, the Labor Department said continuing claims, a reading on the number of people receiving ongoing unemployment assistance, fell by 29,000 to 3.236 million in the week ended July 10th.
With the decrease, continuing claims dropped to their lowest level since hitting 3.094 million in the week ended March 21, 2020.
The four-week moving average of continuing claims also slid to a more than one-year low, falling by 44,000 to 3.338 million from the previous week’s revised average of 3.382 million.