Latest news with #KristenOwen
Reuters
05-08-2025
- Business
- Reuters
Caterpillar warns of $1.5 billion hit as tariffs to hurt profit more in second half
Aug 5 (Reuters) - Caterpillar (CAT.N), opens new tab posted weaker-than-expected quarterly profit and warned U.S. tariffs could pose significant headwinds in the second half and cost the construction and mining equipment maker up to $1.5 billion in 2025. Sweeping tariffs on U.S. imports have impacted companies across sectors, prompting many to rejig their supply chains and localize production. "Impact of tariffs was around the top end of our estimated range for the quarter and it's likely to be a more significant headwind to profitability in the second half of 2025," CEO Joe Creed said. Shares of Caterpillar, often viewed as bellwether for the industrial economy, fell 1% in early trading, after it also flagged a tariff impact of $400 million to $500 million in the third quarter. Even though the company has been able to offset the impact of supply-chain snarls and cost inflation through price hikes, a slowdown in U.S. construction spending owing to higher interest rates, led to a pullback in demand for excavators and backhoe loaders. Still, the company expects its annual sales and revenue to be slightly higher than last year and compared to its prior expectations of about flat, in anticipation of demand from its energy and transportation unit. "We remain constructive on the improving demand backdrop," Oppenheimer analyst Kristen Owen said in a note. Including tariffs, the company forecast 2025 adjusted profit margins in the bottom half of its annual target range. In the current earnings season, companies have reported a combined loss of $12.1 billion to $13.4 billion between July 16 and August 1 for 2025, Reuters' global tariff tracker shows. A majority of these were from the industrial and manufacturing segment. Trump has said the tariffs are a response to persistent U.S. trade imbalances and declining manufacturing power, and that the moves will bring jobs and investment to the nation. Quarterly revenue in the Asia Pacific region fell 2% to $2.89 billion. Its North American sales, which accounts for more than half of overall revenue, fell 2% to about $8.9 billion. Adjusted profit in the second quarter fell to $4.72 per share, compared with estimates of $4.90, according to data compiled by LSEG. Its sales and revenue for the quarter fell 1% to $16.7 billion from a year ago.
Reuters
05-08-2025
- Business
- Reuters
Caterpillar warns of up to $1.5 billion tariff hit, profit misses on weak demand
Aug 5 (Reuters) - Caterpillar (CAT.N), opens new tab missed second-quarter profit expectations on Tuesday due to sluggish demand for construction equipment and warned of up to $1.5 billion hit from costs tied to U.S. tariffs in 2025. Even though the company has been able to offset the impact of supply-chain snarls and cost inflation through price hikes, a slowdown in U.S. construction spending owing to higher interest rates, led to a pullback in demand for its products such as excavators and backhoe loaders. Shares of Caterpillar, often viewed as bellwether for the industrial economy, fell 1% in premarket trading after it also flagged a tariff impact of $400 million to $500 million in the third quarter. Sweeping tariffs on U.S. imports have impacted companies across sectors, prompting many to rejig their supply chains and localize production. Caterpillar also flagged unfavorable manufacturing costs largely due to tariffs. Still, the company expects its annual sales and revenue to be slightly higher than last year and compared to its prior expectations of about flat, in anticipation of demand from its energy and transportation unit. "We remain constructive on the improving demand backdrop," Oppenheimer analyst Kristen Owen said in a note. Including tariffs, the company forecast 2025 adjusted profit margins in the bottom half of its annual target range. In the current earnings season, companies have reported a combined loss of $12.1 billion to $13.4 billion between July 16 and August 1 for 2025, Reuters' global tariff tracker shows. A majority of these were from the industrial and manufacturing segment. Trump has said the tariffs are a response to persistent U.S. trade imbalances and declining manufacturing power, and that the moves will bring jobs and investment to the nation. Quarterly revenue in the Asia Pacific region fell 2% to $2.89 billion. Its North American sales, which accounts for more than half of overall revenue, fell 2% to about $8.9 billion. Adjusted profit in the second quarter fell to $4.72 per share, compared with estimates of $4.90, according to data compiled by LSEG. Its sales and revenue for the quarter fell 1% to $16.7 billion from a year ago.
Business Recorder
05-08-2025
- Business
- Business Recorder
Caterpillar warns of up to $1.5 billion tariff hit, profit misses on weak demand
Caterpillar missed second-quarter profit expectations on Tuesday due to sluggish demand for construction equipment and warned of up to $1.5 billion hit from costs tied to U.S. tariffs in 2025. Even though the company has been able to offset the impact of supply-chain snarls and cost inflation through price hikes, a slowdown in U.S. construction spending owing to higher interest rates, led to a pullback in demand for its products such as excavators and backhoe loaders. Shares of Caterpillar, often viewed as bellwether for the industrial economy, fell 1% in premarket trading after it also flagged a tariff impact of $400 million to $500 million in the third quarter. Sweeping tariffs on U.S. imports have impacted companies across sectors, prompting many to rejig their supply chains and localize production. Caterpillar also flagged unfavorable manufacturing costs largely due to tariffs. Still, the company expects its annual sales and revenue to be slightly higher than last year and compared to its prior expectations of about flat, in anticipation of demand from its energy and transportation unit. 'We remain constructive on the improving demand backdrop,' Oppenheimer analyst Kristen Owen said in a note. Including tariffs, the company forecast 2025 adjusted profit margins in the bottom half of its annual target range. In the current earnings season, companies have reported a combined loss of $12.1 billion to $13.4 billion between July 16 and August 1 for 2025, Reuters' global tariff tracker shows. A majority of these were from the industrial and manufacturing segment. Trump has said the tariffs are a response to persistent U.S. trade imbalances and declining manufacturing power, and that the moves will bring jobs and investment to the nation. Quarterly revenue in the Asia Pacific region fell 2% to $2.89 billion. Its North American sales, which accounts for more than half of overall revenue, fell 2% to about $8.9 billion. Adjusted profit in the second quarter fell to $4.72 per share, compared with estimates of $4.90, according to data compiled by LSEG. Its sales and revenue for the quarter fell 1% to $16.7 billion from a year ago.
Business Insider
10-05-2025
- Business
- Business Insider
New Buy Rating for Corteva (CTVA), the Basic Materials Giant
Oppenheimer analyst Kristen Owen maintained a Buy rating on Corteva (CTVA – Research Report) yesterday and set a price target of $75.00. The company's shares closed yesterday at $67.79. Protect Your Portfolio Against Market Uncertainty Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. According to TipRanks, Owen is a 3-star analyst with an average return of 3.0% and a 50.32% success rate. Owen covers the Industrials sector, focusing on stocks such as Agco, Deere, and Caterpillar. In addition to Oppenheimer, Corteva also received a Buy from Citi's Patrick Cunningham in a report issued yesterday. However, on May 8, Barclays maintained a Hold rating on Corteva (NYSE: CTVA). Based on Corteva's latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $3.98 billion and a GAAP net loss of $41 million. In comparison, last year the company earned a revenue of $3.71 billion and had a GAAP net loss of $253 million Based on the recent corporate insider activity of 70 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CTVA in relation to earlier this year. Most recently, in February 2025, BRIAN TITUS, the VP, Controller and Principal Accounting Officer of CTVA sold 26,560.00 shares for a total of $1,692,934.40.
Bloomberg
30-01-2025
- Business
- Bloomberg
Bloomberg Markets 01/30/2025
"Bloomberg Markets" follows the market moves across every global asset class and discusses the biggest issues for Wall Street. Today's guests are: Oppenheimer Executive Director Of Equity Research Kristen Owen, UPS CEO Carol Tome, Betterment CEO Sarah Levy, PIMCO Portfolio Manager Of Multi-Sector Credit Sonali Pier, and Tribe AI CEO Jaclyn Rice Nelson. (Source: Bloomberg)
