Life

US Reports 56K New Covid Cases, 539 New Deaths

Imperial Oil Q3 Profit Soars; Boosts Dividend 29%

Imperial Oil Ltd. (IMO,IMO.TO) reported on Friday that third-quarter net income soared to C$2.03 billion or C$3.24 per share from C$908 million or C$1.29 per share in the prior-year quarter.

Excluding items, adjusted net income was $1.82 billion in the third quarter of 2022, up from $908 million in the same period of 2021.

Total revenues and other income for the quarter surged to C$15.22 billion from C$10.23 billion in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of C$2.72 per share on revenues of C$18.82 billion for the quarter. Analysts’ estimates typically exclude special items.

The company’s production averaged 430,000 gross oil-equivalent barrels per day in the quarter, down from 435,000 barrels per day in the same period last year.

Upstream production for the quarter averaged 430,000 gross oil-equivalent barrels per day, driven by strong production at Kearl and Cold Lake. Downstream refining throughput averaged 426,000 barrels per day in the quarter, with capacity utilization of 100 percent, the highest quarterly utilization in over 40 years.

The company also declared a 29 percent higher quarterly dividend of 44 cents per share on the outstanding common shares of the company, payable on January 1, 2023, to shareholders of record at the close of business on December 2, 2022

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Recon Technology Posts Profit In FY; Total Revenue Up 74.8%

Recon Technology, Ltd (RCON) reported net income of RMB 94.3 million for the year ended June 30, 2022, compared to a net loss of RMB 25.9 million, prior year. Profit per share was RMB 3.19, compared to a loss of RMB 1.80.

For the year ended June 30, 2022, total revenues were approximately RMB 83.8 million, an increase of approximately 74.8% from RMB 47.9 million, prior year. The company said the overall increase in revenue was mainly due to increase from all its business lines benefited with the increase in oil and gas prices and electricity prices during the year ended June 30, 2022.

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

DaVita Slides On Lower Q3 Earnings, FY22 Outlook

DaVita Inc. (DVA) shares are falling more than 24 percent on Friday morning after the provider of kidney dialysis services reported lower third-quarter earnings, despite a slight increase in revenue.

The company reported a third-quarter profit of $164.69 million or $1.13 per share down from $319.75 million or $2.36 per share a year ago. On an adjusted basis, earnings were $1.45 per share.

Revenue for the quarter climbed to $2.948 billion from $2.938 billion in the previous year.

The company noted that the third quarter was challenging due to negative volume trends and continued labor pressure.

The company now expects full-year 2022 adjusted earnings per share in a range of $6.20-$6.70, while the previous outlook was in a range of $7.50 -$8.50 per share. Wall Street expects $7.72 per share.

European Economics Preview: Eurozone Flash PMI Data Due

Flash Purchasing Managers’ survey results from Eurozone and the UK are due on Monday, headlining a light day for the European economic news.

At 3.15 am ET, S&P Global releases France flash Purchasing Managers’ survey data for October. The composite output index is forecast to fall to 50.3 from 51.2 in the previous month.

At 3.30 am ET, Germany flash PMI data is due. Economists expect the composite PMI to drop slightly to 45.3 from 45.7 a month ago.

Half an hour later, Eurozone S&P flash PMI survey results are due. The composite indicator is seen at 47.5 in October, down from 48.1 in the prior month.

At 4.30 am ET, S&P Global publishes UK composite Purchasing Managers’ data. The composite output index is expected to ease to 48.1 from 49.1 a month ago.

Edwards Lifesciences Declines 17% On FY22 Outlook

Edwards Lifesciences Corp. (EW) shares are down more than 18 percent on Friday morning trade after the company announced a reduction in its sales as well as adjusted earnings outlook for the full year 2022.

Edwards now sees adjusted earnings to be in a range of $2.40-$2.50, while its previous guidance was to the bottom end of $2.50-$2.65.

The company now expects sales for 2022 to be at the low end of its previous outlook of $5.35 to $5.55 billion, in view of the challenges in U.S. hospital staffing as well as the strong U.S. dollar. TAVR sales also are expected at the low end of the previous range of $3.5 to $3.7 billion.

Currently, shares are at $71.46, down 17.20 percent from the previous close of $86.30 on a volume of 6,344,189.

ResMed Slides 6%

Shares of ResMed Inc. (RMD) are declining more than 6 percent on Friday morning trade. The shares have been down since yesterday after the company’s first-quarter profit missed estimates.

Currently, shares are at $217.51, down 6.36 percent from the previous close of $232.29 on a volume of 560,217.

US Reports 56K New Covid Cases, 539 New Deaths

With 56669 new cases of coronavirus infection reporting on Thursday, the total U.S. Covid cases reached 97,416,413.

With 539 new casualties reporting on the same day, the total number of people losing their lives due to coronavirus infection in the country has risen to 1,070,084, as per Johns Hopkins University’s latest data.

Covid positive cases fell by 3 percent and deaths by 5 percent in the last fortnight.

U.S. hospitals reported a 1 percent increase in the number of Covid patients in the last two weeks. The number of I.C.U. admissions due to the worse stage of the viral disease increased by 2 percent.

27,002 people are hospitalized due to Covid. 3,193 of these patients are admitted in intensive care units.

The nation’s current test positivity rate is 8.6 percent.

As per the latest data published by the Centers for Disease Control and Prevention, 226,933,827 Americans, or 68.4 percent of the eligible population, have been administered both doses of Covid vaccine so far. This includes 93.2 percent of people above 65.

7.3 percent of the eligible population, or 22,820,618 people, have already received two booster doses, which is recommended to provide additional protection from the killer virus.

40.6 percent of the eligible population, or 26,796,838 people, have taken a second booster dose.

2663 additional deaths were reported globally on Thursday, taking the total number of people who lost their lives due to the pandemic so far to 6,587,616.