Latest news with #profit forecast
Yahoo
a day ago
- Automotive
- Yahoo
Genuine Parts cuts annual profit view on as tariff uncertainty
(Reuters) -Genuine Parts Company cut its annual profit forecast on Tuesday due to tariff-related uncertainty, sending the shares of the auto parts distributor down nearly 1% before the bell. U.S. President Donald Trump's tariffs combined with inflationary headwinds are complicating the automotive industry as companies try to localize their supply chains. "We remain focused on what we can control as we proactively manage through an evolving external environment," CEO Will Stengel said. The Atlanta-based company cuts 2025 adjusted profit forecast to between $7.50 and $8.00 from $7.75 and $8.25. It also slashed its annual revenue growth to 1%-3% from its prior expectation of 2%-4%. The company's cost-saving measures has helped it offset rising operational expenses and challenges related to tighter inventory levels. It reported second-quarter revenue of $6.16 billion, above expectations of $6.12 billion, according to data compiled by LSEG. Genuine Parts reported a second-quarter adjusted net income of $255 million, or $2.10 per share, below analysts' estimate of $2.07 per share. Sign in to access your portfolio
Reuters
a day ago
- Business
- Reuters
Quest Diagnostics raises annual forecasts on strong diagnostic testing demand
July 22 (Reuters) - Laboratory operator Quest Diagnostics (DGX.N), opens new tab raised its 2025 profit and revenue forecasts on Tuesday, banking on robust demand for its diagnostic tests, sending the company's shares up over 3% in premarket trade. The company now expects adjusted profit for 2025 to range between $9.63 and $9.83 per share, compared with its previous forecast of $9.55 to $9.80 per share. Quest sees its annual revenue in the range of $10.80 billion to $10.92 billion, above its prior view of between $10.70 billion and $10.85 billion. Steady demand for non-urgent surgeries, particularly among older Americans, has driven increased demand for diagnostic checkups in recent quarters. Diagnostic service providers such as Quest and Labcorp (LH.N), opens new tab have also benefited from agreements to manage hospital laboratories as they seek to expand market share. Quest's CEO Jim Davis said the company "realized productivity gains as we continued to deploy automation and digital technologies across our operations." The company's quarterly sales rose 15.2% to $2.76 billion from a year ago, beating analysts' average estimate of $2.73 billion, according to data compiled by LSEG. Excluding one-off items, Quest posted a profit of $2.62 per share in the quarter ended June 30, above the average estimate of $2.57.
Reuters
2 days ago
- Business
- Reuters
RTX cuts 2025 profit forecast as tariff costs weigh
July 22 (Reuters) - RTX (RTX.N), opens new tab cut its 2025 profit forecast on Tuesday, as the aerospace and defense giant took a hit from U.S. President Donald Trump's trade war despite strong demand for its engines and aftermarket services. Trump's imposition of tariffs on imports of aluminum and steel has shrouded the markets with uncertainty, threatening to add pressure on an already-strained supply chain. RTX had warned of an $850 million hit from the trade war, though it was based on the assumption that steel and aluminum tariffs remain at 25%, China tariffs remain at 145% and global reciprocal tariffs remain at 10%. Since then, levies on steel and aluminum have doubled to 50% and Trump has unveiled new tariffs on most trading partners, but those on China have significantly reduced. RTX now expects adjusted profit between $5.80 and $5.95 per share for 2025, down from its prior forecast of $6.00 and $6.15 per share. Maintenance and repair service providers for commercial aircraft have banked on a shortage of new jets, as production delays force airlines to operate an older, cost-intensive fleet. Demand in its defense business has remained strong in the face of growing geopolitical tensions around the world. RTX's Patriot air defense systems have been widely used on the battlefield in Ukraine to counter missile threats from Russia. Raytheon, RTX's defense unit, reported sales that rose 8% to $7 billion in the second quarter. The company raised its adjusted 2025 sales forecast to between $84.75 and $85.5 billion, from $83 billion to $84 billion. RTX's Pratt and Whitney unit, which produces engines for Airbus' A320neo jets and competes with CFM International, saw sales rise 12%. Pratt has struggled with output problems in recent years and is in the middle of an inspection drive for potentially flawed components in its geared turbofan engines that have grounded hundreds of planes in recent months. The Arlington, Virginia-based company reported a 9% rise in total revenue to $21.6 billion. Its adjusted per-share profit stood at $1.56 in the quarter, compared with $1.41 last year.
Bloomberg
2 days ago
- Business
- Bloomberg
AkzoNobel Cuts Profit Forecast on Stronger Euro, Tariff Caution
By Updated on Save AkzoNobel cut its profit forecast for the year, as it factored the impact of currency headwinds into its guidance and warned of ongoing tariff uncertainty. The maker of Dulux paints now expects its 2025 adjusted earnings before interest, taxes, depreciation and amortization to be above €1.48 billion ($1.73 billion), according to a statement Tuesday. The firm previously guided for more than €1.55 billion.
CNA
3 days ago
- Business
- CNA
Verizon boosts annual profit forecast on demand for premium plans
Verizon raised the lower end of its annual profit forecast on Monday, as strong demand for its higher-tier plans powered better-than-expected earnings in the second quarter. The U.S. telecom major posted a 2.2 per cent rise in wireless service revenue as more users opted for its add-ons such as access to streaming service like Netflix. The carrier has launched price-lock promotions and broadband-wireless bundles to retain users as competition intensifies from AT&T and T-Mobile, as well as aggressive offers from broadband providers Comcast and Charter. However, Verizon posted a surprise drop of 9,000 monthly bill-paying wireless subscribers in the April-June period, reeling from user churn after price hikes in January. Analysts polled by FactSet were expecting an increase of 13,000 subscribers. To drive growth in the mature U.S. telecom market, Verizon and its wireless rivals have been bulking up on fiber-optic assets that can tap growing data use by customers. Verizon in May won approval from the U.S. telecom regulator for its $20 billion acquisition of fiber-optic internet provider Frontier, after it agreed to end its diversity programs. The sharper focus on internet services helped it posted 293,000 broadband net additions in the second quarter. Overall, Verizon reported revenue of $34.5 billion, beating estimates of $33.74 billion, according to data compiled by LSEG. Its quarterly adjusted earnings per share of $1.22 also beat estimates. The company now expects 2025 adjusted profit to grow between 1 per cent and 3 per cent, compared with 0 per cent to 3 per cent previously. It also raised its annual free cash flow forecast to between $19.5 billion and $20.5 billion, from $17.5 billion to $18.5 billion.
