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Reuters
a day ago
- Business
- Reuters
Cooper Companies raises 2025 profit forecast on contact lens demand
May 29 (Reuters) - Cooper Companies (COO.O), opens new tab raised its annual profit forecast on Thursday, after beating quarterly results estimates, banking on strong demand for its contact lenses. The company expects annual adjusted profit of $4.05 to $4.11 per share, up from its previous expectations of $3.94 to $4.02 apiece. Shares of the company, however, were down 4.3% in extended trading. Cooper narrowed its 2025 revenue outlook to between $4.11 billion and $4.15 billion, from its previous expectations of $4.08 billion to $4.16 billion. It raised the lower end of the sales forecast for CooperVision, the company's contact lens division, but lowered the upper end of the outlook for its surgical division, which provides a range of fertility and women's care devices. The California-based company posted total revenue of $1 billion for the quarter ended April 30, beating Wall Street estimates of $995.4 million, according to data compiled by LSEG. The beat was driven by sales in both its contact lens and surgical device businesses. On an adjusted basis, the company reported a quarterly profit of 96 cents, above analysts' average estimate of 93 cents. Cooper's results contrast with those of peer Alcon (ALCC.S), opens new tab, which reported first-quarter results below estimates earlier this month.
Reuters
2 days ago
- Business
- Reuters
HP cuts annual profit forecast as tariffs weigh on demand, shares fall
May 28 (Reuters) - HP Inc (HPQ.N), opens new tab cut its annual profit forecast on Wednesday as it expects a moderation in PC market growth at a time when the global economic environment remains volatile, sending its shares down 14% in extended trading. The uncertainty surrounding U.S. tariffs and associated inflationary pressures will negatively impact demand for personal computers in the following quarters in 2025, research firm IDC said last month. HP is seeing the biggest cost impact in its Personal Systems segment, CFO Karen Parkhill said. "The tariff-related costs are due to both the actual cost of the tariffs, as well as the increased investment that we are making to work to offset them." The company expects to offset the costs by the fourth quarter. HP now expects fiscal 2025 adjusted profit between $3.00 and $3.30 per share, down from its prior forecast of $3.45 to $3.75 per share. Analysts had expected a full-year profit of $3.49 per share, according to data compiled by LSEG. The company's second quarter was "impacted by higher-than-expected tariffs that we were not able to fully mitigate," HP CEO Enrique Lores said. "We have recently increased production in Vietnam, Thailand, India, Mexico and the U.S., and by the end of June, we expect nearly all our products sold in North America will be built outside of China," Lores added. For the second quarter ended April 30, HP reported revenue of $13.22 billion, compared with analysts' average estimate of $13.14 billion. On an adjusted basis, the company earned 71 cents per share, missing estimates of 80 cents. Sales at HP's Personal Systems segment — home to its desktop and notebook PCs — rose 7% from a year earlier, while sales at its Printing unit fell 4% in the quarter. The PC maker forecast third-quarter adjusted profit per share between 68 cents and 80 cents, compared with estimates of 90 cents.
Reuters
21-05-2025
- Business
- Reuters
Currys raises annual profit outlook for third time this year
May 21 (Reuters) - British electricals retailer Currys (CURY.L), opens new tab raised its annual profit forecast for the third time this year, saying it now expects adjusted pretax profit to be around 162 million pounds ($217.7 million). In early April, the retailer raised its annual adjusted pretax profit forecast to around 160 million pounds for the 2024/25 year after robust trading since early January. It had raised its annual profit estimate in January too. The seller of consumer electricals such as computers, washing machines and TVs said like-for-like sales rose 4% since early January, driven by its UK and Ireland division and a sales recovery in the Nordics business . Rising sales and improving profit margins were more than offsetting cost increases, it said. "Cashflow was very healthy. This further strengthening of our balance sheet ensures our resilience and allows the resumption of dividends," CEO Alex Baldock said in a statement. In January, Currys said it would declare a dividend of around 1.3 pence a share alongside full-year results in July - its first since an interim payout in its 2022/23 year. ($1 = 0.7443 pounds)
Japan Times
15-05-2025
- Business
- Japan Times
Sumitomo Mitsui braces for tariff fallout with more buffers
Sumitomo Mitsui Financial Group is shoring its buffers to prepare for U.S. President Donald Trump's trade war, even as it forecast another year of record profit. Japan's second-largest lender expects net income to climb about 10% to ¥1.3 trillion ($8.8 billion) in the year that started in April, it said on Wednesday. That is slightly less than the ¥1.37 trillion average estimate of analysts as the company said the U.S. tariff measures may have a ¥100 billion impact on profit. Tokyo-based Sumitomo Mitsui is the first of Japan's biggest banks to give profit guidance as earnings drivers come under strain from Trump's tariffs. Lending income has benefited from the Bank of Japan's interest-rate hikes — a campaign that is now in doubt as recession fears mount. Net income for the fourth quarter tumbled 75% to ¥42 billion as the bank booked losses on bonds and securities trading and set aside ¥90 billion in "forward-looking provisions' for "recession risks initiated by U.S. tariffs' and high interest rates, Sumitomo Mitsui said in a presentation. It still beat its ¥1.16 trillion profit goal for the year, posting a record ¥1.18 trillion. The bank's clients are becoming cautious about making deals and investments, CEO Toru Nakashima said at a briefing in Tokyo. Companies in the U.S. have paused mergers and equity underwriting transactions, he added. For Sumitomo Mitsui, too, Nakashima said now is not the time to aggressively pursue more acquisitions. His hesitation comes after a flurry of dealmaking to expand globally. The company's main banking unit last week agreed to buy a 20% stake in India's Yes Bank for about 135 billion rupees ($1.6 billion), as it seeks opportunities in faster-growing markets. It also clinched a deal to expand in private credit in the U.S. Sumitomo Mitsui unveiled plans to buy back up to 1% of its shares for as much as ¥100 billion and cancel them. It will consider further repurchases this fiscal year, depending on performance and capital conditions. Bank stocks are among the worst performers in Japan since Trump announced his so-called reciprocal tariffs on April 2. Shares of Sumitomo Mitsui have slid about 12% from an 18-year high in March. The Bank of Japan earlier this month slashed its growth forecasts, citing "extremely high' uncertainties. Japan's economy probably shrank in the first quarter, even before the tariffs started hitting the country in earnest. Sumitomo Mitsui said bad-loan costs are likely to reach ¥300 billion this fiscal year, down from ¥344.5 billion in the previous year.
Bloomberg
13-05-2025
- Automotive
- Bloomberg
Daimler Truck Cuts Guidance, Citing North America Uncertainty
Daimler Truck Holding AG cut its sales and profit guidance for the year, citing increasing economic uncertainty in North America. Adjusted earnings before interest and tax is now expected to range between –5% and +5% year-over-year because of the expectation for reduced sales volumes in North America, the German truckmaker said after the close of trading on Tuesday.
