Latest news with #conglomerate
Yahoo
a day ago
- Business
- Yahoo
Q1 Earnings Roundup: 3M (NYSE:MMM) And The Rest Of The General Industrial Machinery Segment
Quarterly earnings results are a good time to check in on a company's progress, especially compared to its peers in the same sector. Today we are looking at 3M (NYSE:MMM) and the best and worst performers in the general industrial machinery industry. Automation that increases efficiency and connected equipment that collects analyzable data have been trending, creating new demand for general industrial machinery companies. Those who innovate and create digitized solutions can spur sales and speed up replacement cycles, but all general industrial machinery companies are still at the whim of economic cycles. Consumer spending and interest rates, for example, can greatly impact the industrial production that drives demand for these companies' offerings. The 14 general industrial machinery stocks we track reported a mixed Q1. As a group, revenues missed analysts' consensus estimates by 1.5% while next quarter's revenue guidance was 1.5% below. Thankfully, share prices of the companies have been resilient as they are up 5.9% on average since the latest earnings results. Producers of the first asthma inhaler, 3M Company (NYSE:MMM) is a global conglomerate known for products in industries like healthcare, safety, electronics, and consumer goods. 3M reported revenues of $5.78 billion, down 3.9% year on year. This print exceeded analysts' expectations by 1.5%. Overall, it was a strong quarter for the company with an impressive beat of analysts' adjusted operating income estimates. The stock is up 18.6% since reporting and currently trades at $149.40. Is now the time to buy 3M? Access our full analysis of the earnings results here, it's free. With its magnesium alloys used in the construction of the famous Spirit of St. Louis aircraft, Luxfer (NYSE:LXFR) offers specialized materials, components, and gas containment devices to various industries. Luxfer reported revenues of $97 million, up 8.5% year on year, outperforming analysts' expectations by 11.9%. The business had an incredible quarter with a solid beat of analysts' EPS estimates and an impressive beat of analysts' EBITDA estimates. Luxfer achieved the biggest analyst estimates beat among its peers. The market seems happy with the results as the stock is up 16.4% since reporting. It currently trades at $11.63. Is now the time to buy Luxfer? Access our full analysis of the earnings results here, it's free. Founded in 1987, Icahn Enterprises (NASDAQ: IEP) is a diversified holding company primarily engaged in investment and asset management across various sectors. Icahn Enterprises reported revenues of $1.87 billion, down 24.6% year on year, falling short of analysts' expectations by 29%. It was a disappointing quarter as it posted a significant miss of analysts' EPS estimates. Icahn Enterprises delivered the weakest performance against analyst estimates and slowest revenue growth in the group. As expected, the stock is down 1.9% since the results and currently trades at $8.56. Read our full analysis of Icahn Enterprises's results here. Founded with a $2,500 loan, L.B. Foster (NASDAQ:FSTR) is a provider of products and services for the transportation and energy infrastructure sectors, including rail products, construction materials, and coating solutions. L.B. Foster reported revenues of $97.79 million, down 21.3% year on year. This number came in 14.5% below analysts' expectations. Taking a step back, it was a mixed quarter as it also produced full-year EBITDA guidance exceeding analysts' expectations but a significant miss of analysts' EBITDA estimates. L.B. Foster scored the highest full-year guidance raise among its peers. The stock is down 7.2% since reporting and currently trades at $18.95. Read our full, actionable report on L.B. Foster here, it's free. Tracing back to its invention of the mechanical milk bottle filler in 1884, John Bean (NYSE:JBT) designs, manufactures, and sells equipment used for food processing and aviation. John Bean reported revenues of $854.1 million, up 118% year on year. This print topped analysts' expectations by 2.6%. It was a very strong quarter as it also logged a solid beat of analysts' EBITDA estimates and EPS guidance for next quarter exceeding analysts' expectations. John Bean achieved the fastest revenue growth among its peers. The stock is up 6.5% since reporting and currently trades at $114.06. Read our full, actionable report on John Bean here, it's free. The Fed's interest rate hikes throughout 2022 and 2023 have successfully cooled post-pandemic inflation, bringing it closer to the 2% target. Inflationary pressures have eased without tipping the economy into a recession, suggesting a soft landing. This stability, paired with recent rate cuts (0.5% in September 2024 and 0.25% in November 2024), fueled a strong year for the stock market in 2024. The markets surged further after Donald Trump's presidential victory in November, with major indices reaching record highs in the days following the election. Still, questions remain about the direction of economic policy, as potential tariffs and corporate tax changes add uncertainty for 2025. Want to invest in winners with rock-solid fundamentals? Check out our 9 Best Market-Beating Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate. Join Paid Stock Investor Research Help us make StockStory more helpful to investors like yourself. Join our paid user research session and receive a $50 Amazon gift card for your opinions. Sign up here. Sign in to access your portfolio
Reuters
3 days ago
- Business
- Reuters
German union fears 20,000 job cuts at Thyssenkrupp, newspaper reports
BERLIN, May 30 (Reuters) - Germany's IG Metall union sees more than 20,000 jobs at risk at Thyssenkrupp ( opens new tab, Sueddeutsche Zeitung reported on Friday, three days after the conglomerate announced plans to sell minority stakes in three divisions as part of a wider overhaul. "The plans could see more than 20,000 employees' positions slashed," said Juergen Kerner, deputy chairman of IG Metall and Thyssenkrupp supervisory board member, told the newspaper.
Bloomberg
4 days ago
- Business
- Bloomberg
India's Shapoorji Closes $3.4 Billion Record Private Credit Deal
Indian real estate and construction conglomerate Shapoorji Pallonji Group has completed a $3.4 billion financing in the country's biggest ever private credit deal, according to people familiar with the matter. About a dozen large investors — some using multiple funds — bought zero-coupon rupee bonds that offer a yield of 19.75%, the people said, asking not to be identified because the information is private. The debt matures in three years.
Wall Street Journal
5 days ago
- Business
- Wall Street Journal
British American Tobacco Sells 2.5% Stake in Indian Conglomerate ITC for $1.42 Billion
British American Tobacco BATS 1.02%increase; green up pointing triangle said it sold a 2.5% shareholding in Indian conglomerate ITC for 1.05 billion pounds ($1.42 billion), more than initially planned. The FTSE 100 cigarette maker–which houses the Kent, Dunhill and Lucky Strike brands–said Wednesday that it completed the sale of 313 million shares in ITC via an accelerated book-build process. The company said on Tuesday that it was planning to sell a 2.3% stake in ITC. BAT, which previously held 25.4% of ITC, reiterated that it will use the money raised to extend its buyback program by an extra 200 million pounds. This will take the total amount to be bought this year to 1.1 billion pounds. The company plans to start the latest part of share buybacks Thursday and expects to complete it by the end of this year. Write to Ian Walker at
Bloomberg
26-05-2025
- Business
- Bloomberg
GMO Group Scraps $2 Billion Share Sale Plan of Its Internet Unit
The Japanese conglomerate GMO Internet Group Inc. canceled a planned share offering of one of its listed arms, citing current market conditions as reason. The company had planned to sell 91.7 million shares of GMO Internet Inc. in what would have been a ¥284 billion ($2 billion) deal set to be priced as early as June 5. The parent will continue to consider options to meet the Tokyo bourse's listing criteria, it said in an exchange filing, without giving further details.
