2018 07 11

Business Caterpillar Inc on Monday posted higher quarterly profit that beat market expectations and upgraded the full-year profit outlook, citing robust global demand for its equipment. 30 Jul 2018 07:50PM Bookmark CHICAGO: Caterpillar Inc on Monday posted higher quarterly profit that beat market expectations and upgraded the full-year profit outlook, citing robust global demand for its equipment.The Deerfield, Illinois-based company reported an adjusted profit of US$2.97 a share in the second quarter, compared with US$1.49 a share, last year. Analysts on average had expected earnings of US$2.73 a share.Net profit for the quarter came in at US$2.82 per share, compared with US$1.35 last year.The company now expects adjusted profit per share to be in a range of US$11.00 to US$12.00 in 2018, compared with US$10.25 to US$11.25 projected earlier.(Reporting by Rajesh Kumar Singh; Editing by Nick Zieminski) … [Read more...] about Caterpillar raises 2018 profit outlook after beating quarterly estimates

Business Fiat Chrysler on Wednesday reported second-quarter operating profit below expectations and revised downwards part of its full-year outlook, sending its shares down more than 10 percent. 25 Jul 2018 07:40PM Bookmark MILAN: Fiat Chrysler on Wednesday reported second-quarter operating profit below expectations and revised downwards part of its full-year outlook, sending its shares down more than 10 percent.The earnings were overshadowed by the news that former Chief Executive Sergio Marchionne had died after suffering complications from surgery.Jeep head Mike Manley was appointed to succeed Marchionne and will address analysts and investors during a conference call due 1200 GMT.FCA said adjusted earnings before interest and tax (EBIT) for the April to June period fell 11 percent to 1.7 billion euros (US$1.99 billion), compared with 2 billion euros consensus in a Reuters poll of analysts.Net revenues rose 4 percent, in line with expectations.FCA said it expected 2018 … [Read more...] about Fiat Chrysler cuts 2018 outlook, shares tumble

Business Delta Air Lines Inc reported a 13.6 percent drop in quarterly profit on Thursday as its operating expenses swelled due to a 38.8 percent jump in fuel costs. 12 Jul 2018 07:16PM (Updated: 12 Jul 2018 07:35PM) Bookmark REUTERS: Delta Air Lines Inc slashed its full-year earnings forecast on Thursday as fuel costs in the second quarter surged 38.8 percent and the company said it expected US$2 billion spike in its fuel bill in 2018.The No.2 U.S.carrier by passenger traffic cut its full-year earnings outlook to a range of US$5.35 to US$5.70 per share from US$6.35 to US$6.70 per share.Jet fuel costs for airlines have been rising as crude oil prices have soared 9.8 percent this year through Wednesday and 53.8 percent in the last 12 months.However, strong travel demand and an increase in average fares helped the Delta's second-quarter profit top Wall Street estimates.Travel demand has remained robust, with global air passenger traffic growing every month this year through … [Read more...] about Delta cuts 2018 forecast on higher fuel costs, profit beats estimates

Business Delta Air Lines Inc reported a 13.6 percent drop in quarterly profit on Thursday as its operating expenses swelled due to a 38.8 percent jump in fuel costs. 12 Jul 2018 07:16PM Bookmark REUTERS: Delta Air Lines Inc reported a 13.6 percent drop in quarterly profit on Thursday as its operating expenses swelled due to a 38.8 percent jump in fuel costs.The No.2 U.S. carrier slashed its full-year earnings outlook to a range of US$5.35 to US$5.70 per share from US$6.35 to US$6.70 per share and said it expected its fuel bill in 2018 to surge by US$2 billion.The company's net income fell to US$1.03 billion, or US$1.47 per share, in the second quarter ended June 30, from US$1.19 billion, or US$1.62 per share, a year earlier.The total unit revenue - a measure which compares sales with flight capacity - increased 4.6 percent in the quarter, boosted by higher average fares.On an adjusted basis, the airline earned US$1.77 per share.Delta's total operating revenue rose 9.6 … [Read more...] about Delta slashes 2018 forecast, quarterly profit drops