Vatican reports good profit on investments and real estate as the pope tackles a financial crisis
In its 2024 report, the Administration of the Patrimony of the Apostolic See, or APSA, said it had directed 46 million euros of the profit to fund the Holy See's operating costs. Some 10.5 million euros in profit came from good returns on investments, while its real estate profits equaled its 2023 results, the report said.
The Vatican has been running a 50 million to 60 million euro structural deficit for years and is facing a 1 billion euro pension fund shortfall, a critical scenario that represents one of the greatest challenges facing Leo at the start of his pontificate.
The Chicago-born math major, though, is said to have a head for numbers and his agenda in his first weeks in office has been filled with meetings of the Vatican's various financial entities.
The Vatican has 4,234 real estate properties in Italy and 1,200 more in London, Paris, Geneva and Lausanne, Switzerland. Only about one-fifth are rented at fair market value. Some 70% generate no income because they house Vatican or other church offices; the remaining 11% are rented at reduced rents to Vatican employees.
In 2024, these properties only generated 35 million euros in profit, essentially equaling the profit of 2023.
Financial analysts have long identified such undervalued real estate as a source of potential revenue, but APSA has little money to invest in renovations necessary to justify higher, market rents. The report blamed the flat results on higher costs maintaining the properties, with 3.8 million euros spent in 2024 on maintenance alone.
___
Associated Press religion coverage receives support through the AP's collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hamilton Spectator
2 hours ago
- Hamilton Spectator
College isn't in the plans for many rural students despite stepped-up recruiting efforts
PERRY, N.Y. (AP) — As a student in western New York's rural Wyoming County, Briar Townes honed an artistic streak that he hopes to make a living from one day. In high school, he clicked with a college-level drawing and painting class. But despite the college credits he earned, college isn't part of his plan. Since graduating from high school in June, he has been overseeing an art camp at the county's Arts Council. If that doesn't turn into a permanent job, there is work at Creative Food Ingredients, known as the 'cookie factory' for the way it makes the town smell like baking cookies, or at local factories like American Classic Outfitters, which designs and sews athletic uniforms. 'My stress is picking an option, not finding an option,' he said. Even though rural students graduate from high school at higher rates than their peers in cities and suburbs, fewer of them go on to college. Many rural school districts, including the one in Perry that Townes attends, have begun offering college-level courses and working to remove academic and financial obstacles to higher education, with some success. But college doesn't hold the same appeal for students in rural areas where they often would need to travel farther for school, parents have less college experience themselves, and some of the loudest political voices are skeptical of the need for higher education. College enrollment for rural students has remained largely flat in recent years, despite the district-level efforts and stepped-up recruitment by many universities. About 55% of rural U.S. high school students who graduated in 2023 enrolled in college, according to National Clearinghouse Research Center data. That's compared to 64% of suburban graduates and 59% of urban graduates. College can make a huge difference in earning potential. An American man with a bachelor's degree earns an estimated $900,000 more over his lifetime than a peer with a high school diploma, research by the Social Security Administration has found. For women, the difference is about $630,000. A school takes cues from families' hopes and goals A lack of a college degree is no obstacle to opportunity in places such as Wyoming County, where people like to say there are more cows than people. The dairy farms, potato fields and maple sugar houses are a source of identity and jobs for the county just east of Buffalo. 'College has never really been, I don't know, a necessity or problem in my family,' said Townes, the middle of three children whose father has a tattoo shop in Perry. At Perry High School, Superintendent Daryl McLaughlin said the district takes cues from students like Townes, their families and the community, supplementing college offerings with programs geared toward career and technical fields such as the building trades. He said he is as happy to provide reference checks for employers and the military as he is to write recommendations for college applications. 'We're letting our students know these institutions, whether it is a college or whether employers, they're competing for you,' he said. 'Our job is now setting them up for success so that they can take the greatest advantage of that competition, ultimately, to improve their quality of life.' Still, college enrollment in the district has exceeded the national average in recent years, going from 60% of the class of 2022's 55 graduates to 67% of 2024's and 56% of 2025's graduates. The district points to a decision to direct federal pandemic relief money toward covering tuition for students in its Accelerated College Enrollment program — a partnership with Genesee Community College. When the federal money ran out, the district paid to keep it going. 'This is a program that's been in our community for quite some time, and it's a program our community supports,' McLaughlin said. About 15% of rural U.S. high school students were enrolled in college classes in January 2025 through such dual enrollment arrangements, a slightly lower rate than urban and suburban students, an Education Department survey found. Rural access to dual enrollment is a growing area of focus as advocates seek to close gaps in access to higher education. The College in High School Alliance this year announced funding for seven states to develop policy to expand programs for rural students. Higher education's image problem is acute in rural America Around the country, many students feel jaded by the high costs of college tuition. And Americans are increasingly skeptical about the value of college, polls have shown, with Republicans, the dominant party in rural America, losing confidence in higher education at higher rates than Democrats. 'Whenever you have this narrative that 'college is bad, college is bad, these professors are going to indoctrinate you,' it's hard,' said Andrew Koricich, executive director of the Alliance for Research on Regional Colleges at Appalachian State University in North Carolina. 'You have to figure out, how do you crack through that information ecosphere and say, actually, people with a bachelor's degree, on average, earn 65% more than people with a high school diploma only?' In much of rural America, about 21% of people over the age of 25 have a bachelor's degree, compared to about 36% of adults in other areas, according to a government analysis of U.S. Census findings. Some rural educators don't hold back on promoting college In rural Putnam County, Florida, about 14% of adults have a bachelor's degree. That doesn't stop principal Joe Theobold from setting and meeting an annual goal of 100% college admission for students at Q.I. Roberts Jr.-Sr. High School. Paper mills and power plants provide opportunities for a middle class life in the county, where the cost of living is low. But Theobold tells students the goal of higher education 'is to go off and learn more about not only the world, but also about yourself.' 'You don't want to be 17 years old, determining what you're going to do for the rest of your life,' he said. Families choose the magnet school because of its focus on higher education, even though most of the district's parents never went to a college. Many students visit college campuses through Camp Osprey, a University of North Florida program that helps students experience college dorms and dining halls. In upstate New York, high school junior Devon Wells grew up on his family farm in Perry but doesn't see his future there. He's considering a career in welding, or as an electrical line worker in South Carolina, where he heard the pay might be double what he would make at home. None of his plans require college, he said. 'I grew up on a farm, so that's all hands-on work. That's really all I know and would want to do,' Devon said. Neither his nor Townes' parents have pushed one way or the other, they said. 'I remember them talking to me like, `Hey, would you want to go to college?' I remember telling them, 'not really,'' Townes said. He would have listened if a college recruiter reached out, he said, but wouldn't be willing to move very far. ___ The Associated Press' education coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP's standards for working with philanthropies, a list of supporters and funded coverage areas at . Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
Yahoo
4 hours ago
- Yahoo
Tempus AI Stock Before Q2 Earnings Release: To Buy or Not to Buy?
Tempus AI, Inc. TEM is scheduled to report second-quarter 2025 results on Aug. 8. In the last reported quarter, the company's adjusted loss of 24 cents was narrower than the Zacks Consensus Estimate of a loss of 27 cents per share. Tempus AI, which went public in June 2024, exceeded estimates in two of the trailing four quarters and missed in two, the average negative earnings surprise being 2.07%. The Zacks Consensus Estimate for revenues is currently pegged at $299.3 million for the second quarter, implying an 80.4% improvement over the year-ago period. The Zacks Consensus Estimate for the second-quarter bottom line has narrowed by 4 cents to a loss of 23 cents per share over the past 90 days. TEM's Earnings Estimate Revision Trend Image Source: Zacks Investment Research Throughout the second quarter of 2025, Tempus AI had an impressive run on the bourses with a 34.5% gain. Despite macroeconomic challenges, including escalating trade tensions that broadly impacted the healthcare technology sector, the company witnessed strong momentum, primarily driven by a series of strategic acquisitions and partnerships in the field of AI-driven precision medicine. During this period, the company not only surpassed the 9.3% gain posted by the broader industry but also significantly outperformed the 3.4% decline of the Medical sector. The S&P 500 benchmark index gained 10.7% during this period. The company has also outperformed other players in the health infotech field, like 10x Genomics TXG and SOPHiA GENETICS SOPH. While TXG gained 33.5%, SOPH declined 2.3% during the said period. Q2 Price Comparison Image Source: Zacks Investment Research Let's see how things have shaped up for TEM shares prior to this announcement: Key Factors to Note Prior to Tempus AI's Q2 Earnings Tempus AI recently announced a three-year, $200 million foundational model partnership with AstraZeneca AZN and Pathos, which is expected to have contributed to its second-quarter performance. This non-exclusive data licensing agreement aims to develop the world's largest foundation model in oncology using over 300 petabytes of Tempus' multimodal data. With the first version of the model expected in 9-12 months, the deal is already transforming Tempus AI's data monetization trajectory. Management confirmed that revenues from this deal will be recognized ratably over the three-year term, starting in the second quarter. Tempus AI's hereditary testing segment, which contributed meaningfully to first-quarter growth, is expected to have maintained the trend this time too. When Tempus acquired Ambry Genetics, it guided mid-to-high teens growth, but the segment exceeded expectations with a 23% unit increase. While management has been cautious about projecting ongoing acceleration, they have also expressed confidence in the long-term potential for broader hereditary screening applications, ranging from cancer to cardiovascular and neurological risk. Tempus continued to expand its diagnostics portfolio with the recent FDA clearance of ECG-Low EF, its second AI-powered ECG tool for detecting low ejection fraction, further strengthening its position in cardiology and extending its reach beyond oncology. Meanwhile, the company launched xM for TRM, a liquid biopsy assay for monitoring immunotherapy response, which showed promising early data at ASCO 2025. These likely contributed to the second-quarter top line too. Tempus AI is advancing its digital health strategy by integrating Tempus One, its GenAI clinical assistant, into EHR systems, enabling physicians to query data, access guidelines and streamline workflows. The launch of Agent Builder for custom GenAI tools further deepens its role in clinical settings. Tempus One too is expected to have witnessed strong customer adoption during the second quarter. However, despite strong top-line growth and product momentum, Tempus AI in 2025 is facing a few near-term challenges. The company remains unprofitable, with an adjusted EBITDA loss of $16.2 million in the first quarter. Though the loss narrowed year over year, it raised questions about the timeline to profitability amid ongoing R&D investments. Additionally, while the AstraZeneca-Pathos foundation model deal is significant, its revenues will be recognized ratably over three years, limiting short-term financial impact. Further, investments tied to these updates, including product development, regulatory efforts, and marketing, are likely to have pushed operating expenses higher in the second quarter, putting some pressure on short-term profitability. Broader macroeconomic factors, like tariffs, hospital budget constraints and biotech funding trends, could also affect adoption rates. Expensive Valuation TEM's stock is currently overvalued compared to its industry, as shown in the chart below. TEM is currently trading at a forward 12-month price-to-sales (P/S) ratio of 6.86, a premium to the broader industry's average of 5.80X. It also trades higher than other industry players like 10x Genomics (2.70X) and SOPHiA GENETICS (2.40X). However, the stock is trading below its one-year median of 8.00X, suggesting that it has moderated somewhat from its historical highs. Image Source: Zacks Investment Research Our Take With the AI market projected to grow exponentially in the coming years, Tempus AI is well-positioned to capitalize on expanding opportunities. With a strong financial outlook and efforts to improve healthcare outcomes, TEM presents a unique opportunity for investors seeking high returns from the AI and healthcare sectors. Yet, despite the company's several recent upsides, its premium valuation and lack of near-term profitability are limiting this Zacks Rank #3 (Hold) stock's near-term gains. While current shareholders should hold their positions, new investors should wait for the stock to retract some of its recent gains, providing a better entry point. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AstraZeneca PLC (AZN) : Free Stock Analysis Report 10x Genomics (TXG) : Free Stock Analysis Report SOPHiA GENETICS SA (SOPH) : Free Stock Analysis Report Tempus AI, Inc. (TEM) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 hours ago
- Yahoo
Compared to Estimates, W.W. Grainger (GWW) Q2 Earnings: A Look at Key Metrics
W.W. Grainger (GWW) reported $4.55 billion in revenue for the quarter ended June 2025, representing a year-over-year increase of 5.6%. EPS of $9.97 for the same period compares to $9.76 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $4.52 billion, representing a surprise of +0.78%. The company delivered an EPS surprise of -0.3%, with the consensus EPS estimate being $10.00. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance. As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately. Here is how W.W. Grainger performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Total Reported Growth: 5.1% versus the five-analyst average estimate of 4.8%. Net Sales- High-Touch Solutions N.A.: $3.54 billion compared to the $3.55 billion average estimate based on seven analysts. The reported number represents a change of +2.5% year over year. Net Sales- Endless Assortment: $929 million versus the seven-analyst average estimate of $887.37 million. The reported number represents a year-over-year change of +19.7%. Net Sales- Other: $81 million compared to the $81.42 million average estimate based on six analysts. The reported number represents a change of +3.9% year over year. Operating earnings (losses)- High-Touch Solutions N.A.: $589 million compared to the $609.17 million average estimate based on six analysts. Operating earnings (losses)- Endless Assortment: $92 million compared to the $76.73 million average estimate based on six analysts. Operating earnings (losses)- Other: $-3 million versus the three-analyst average estimate of $-1.05 million. View all Key Company Metrics for W.W. Grainger here>>> Shares of W.W. Grainger have returned -1% over the past month versus the Zacks S&P 500 composite's +2.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report W.W. Grainger, Inc. (GWW) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
