Coterra Energy beats second quarter profit estimates
The Houston, Texas-based company posted an adjusted profit of 48 cents per share for the three months ended June 30, compared with analysts' estimates of 45 cents per share, according to data compiled by LSEG.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Mail
11 minutes ago
- Daily Mail
Texas Roadhouse under fire from Trump-backed legal group over DEI
Texas Roadhouse is under fire from a Trump-aligned legal group accusing it of discriminating against white men. Conservative lawyers are arguing that the 600-store steak chain has allegedly given women and people of color preferential treatment in hiring. A complaint by America First Legal (AFL) — a group founded by the White House's deputy chief of staff, Stephen Miller — will likely get the ball rolling on a company investigation by America's federal job discrimination watchdog. 'Texas Roadhouse's policies are a relic of an era where DEI contaminated American culture with the false belief that good intentions make discrimination okay,' Will Scolinos, counsel for the group, wrote. 'It is past time for Texas Roadhouse to join other companies in clearing DEI off Americans' tables for good.' AFL's filing is part of a broader conservative push to dismantle corporate DEI programs — one that's already triggered rollbacks at major companies like Ford, John Deere, and Tractor Supply Co. At the center of AFL's latest challenge are Texas Roadhouse's updates to Wall Street. The company promoted its hiring initiatives and leadership summits in its financial records. AFL claimed both programs were illegal because they are exclusionary of white men. Still, Texas Roadhouse — which groups women and nonwhite employees together in its diversity disclosures — has fallen short of creating actual diversity in the boardroom. The AFL notes that 50 percent of its board is white and male, and the complaint doesn't focus on the restaurant chain's broader workforce. To consumers, Texas Roadhouse, a Kentucky-based chain, has a reputation for high-performing restaurants and rowdy atmospheres. In 2024, the company overtook Olive Garden, claiming the top revenue spot among American restaurants. Olive Garden had held the revenue crown among restaurants for seven straight years. Texas Roadhouse didn't immediately respond to a request for comment. In 2017, during President Donald Trump's first administration, Texas Roadhouse settled a $12 Million government complaint, alleging the company avoided hiring restaurant workers over 40. Jerry Morgan, the brand's CEO, has been the top boss since March 2021 AFL has filed similar complaints against major corporations including IBM, Target, Cracker Barrel, and the Los Angeles Dodgers. The group's efforts — along with those of other conservative legal organizations — appear to be making headway. Since Trump returned to the White House, multiple billion-dollar companies including Meta, Walmart, Target, and Disney have scaled back or rebranded diversity programs. McDonald's, for example, announced in January that it would stop setting hiring goals tied to race and gender. The company has faced multiple legal challenges, including over its 40-year-old HACER scholarship program, which has awarded more than $33 million to 17,000 students. The scholarship initially required applicants to have at least one Latino or Hispanic parent. In February, the company settled legal complaints about the program, changing language to say applicants 'must demonstrate their impact and contribution to the Hispanic/Latino community through their activities, leadership and service.'
Daily Mail
12 minutes ago
- Daily Mail
Disney gives surprising update on prices
Disney lovers are still pouring into the company's US theme parks — despite massive ticket price hikes. The boom in visitors to Disney World in Orlando and Disneyland near LA was key to a big jump in profits. One-day admission has doubled over the past decade, adding more than $100 per person, according to theme park site Mickey Visit. In the three months ending in June, Disney reported $5.3 billion in income, more than double Wall Street's forecast of $2.3 billion. Much of that came from its U.S. parks, where operating income jumped 22 percent to $1.7 billion. Disney World was the standout performer bringing in record revenue with guest spending up, chief financial officer Hugh Johnston told investors on Wednesday's earnings call. 'Consumers generally these days are willing to pay for value,' Johnston told the Financial Times. 'Our consumer still sees, especially with the investments we've been making with parks and cruise ships, a tremendous amount of value.' Prices will rise again next year too with admission costing roughly $10 more for tickets advertised on Disney's site. The maximum price for a one-day ticket to Disney's Animal Kingdom rose from $169 in 2025 to $179 in 2026. Disney's Hollywood Studios currently costs up to $184 but will rise to $199 next year - the highest increase of any ticket so far. The highest prices could still be yet to come, Disney expert Gavin Doyle, of Mickey Visit, explained. This is because Disney has not released the ticket prices for November or December 2026 yet. These are usually the busiest months of the year and have the highest priced tickets. Doyle expects one-day Magic Kingdom tickets for November and December to hit as high as $205 for 2026. 'These higher prices reflect expected demand for the most crowded days at Disney World throughout the year which is typically aligned with school breaks and holidays,' Doyle said of the price increases. Elsewhere the picture looked less rosy for the company with declines in its traditional cable TV networks which fell 15 percent compared to the same time last year. Prices for one-day tickets to Disney World will increase by roughly $10 next year The decline was offset by boost to its streaming services such as Disney+ which added 1.8 million new subscribers in the quarter. Disney hiked the prices for its plan by 25 percent in October, just a year after the last hike. Disney is also preparing to launch its sports network ESPN in a streaming package later this month. The company announced on Tuesday that it would also be selling a ten percent stake in the network to the National Football League (NFL).
Reuters
13 minutes ago
- Reuters
Siemens reports Q3 results in line with forecast on weak dollar; confirms 2025 outlook
ZURICH, Aug 7 (Reuters) - Siemens ( opens new tab reported industrial profit in line with forecasts for its latest quarter on Thursday, although the weakening dollar weighed on the German engineering group's figures. The company, which makes industrial software and trains, reported industrial profit falling 7% to 2.82 billion euros ($3.29 billion) for the three months to the end of June, in line with analyst forecasts in a company-gathered consensus. Earnings were reduced by currency translation effects, particularly the fall of the dollar versus the euro during the quarter, as well as restructuring costs as Siemens shed jobs at its flagship digital industry division. Revenue rose 3% to 19.38 billion euros, beating forecasts for 19.24 billion euros. "Our third-quarter performance demonstrates that Siemens is delivering robust results despite the volatile global market," said Chief Executive Roland Busch in a statement, without getting into details regarding the increased trade tariffs following U.S. President Donald Trump's global trade reset. Currency translation effects took four percentage points from order growth and three percentage points from revenue growth, Siemens said. The dollar lost 8% against the euro during the quarter, caused by concerns over the Federal Reserve's independence, the credibility of official statistics, ballooning fiscal debt and rising bets on interest rate cuts. Despite the ongoing uncertainty in the global economic environment, Siemens confirmed its outlook for its 2025 financial year, which runs to the end of September. It still expects group revenue to grow by 3% to 7% on a comparable basis, and post basic earnings per share in the range of 10.40 to 11.00 euros. Siemens said the outlook calculation did not include the purchase of U.S. engineering software firm Altair Engineering and the acquisition of U.S.-based Dotmatics, which weighed on its profit margin. ($1 = 0.8568 euros)
