Latest news with #salesforecast
Yahoo
4 minutes ago
- Automotive
- Yahoo
Magna raises sales forecast, beats quarterly view on cost cuts
(Reuters) -Canadian auto parts supplier Magna International raised annual sales forecast and topped second-quarter estimates on Friday, benefiting from its cost-cutting measures. The company had said in May it would take steps such as restructuring and reduced capital and engineering spending to cushion the hit from sweeping tariffs. U.S. President Donald Trump's levies have pressured auto companies across the supply chain, forcing suppliers to absorb more expenses or renegotiate with automakers. Peers Aptiv and BorgWarner also raised their annual forecasts on Thursday, banking on stronger auto parts demand. Magna expects 2025 sales to be between $40.4 billion and $42.0 billion, compared with its prior forecast of $40.0 billion and $41.6 billion. On an adjusted basis, it earned $1.44 per share for the quarter through June, above analysts' estimate of $1.14 per share, according to data compiled by LSEG. Total quarterly sales fell about 3% to $10.63 billion, while the estimate was $10.23 billion. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Reuters
7 minutes ago
- Automotive
- Reuters
Magna raises sales forecast, beats quarterly view on cost cuts
Aug 1 (Reuters) - Canadian auto parts supplier Magna International ( opens new tab raised annual sales forecast and topped second-quarter estimates on Friday, benefiting from its cost-cutting measures. The company had said in May it would take steps such as restructuring and reduced capital and engineering spending to cushion the hit from sweeping tariffs. U.S. President Donald Trump's levies have pressured auto companies across the supply chain, forcing suppliers to absorb more expenses or renegotiate with automakers. Peers Aptiv ( opens new tab and BorgWarner (BWA.N), opens new tab also raised their annual forecasts on Thursday, banking on stronger auto parts demand. Magna expects 2025 sales to be between $40.4 billion and $42.0 billion, compared with its prior forecast of $40.0 billion and $41.6 billion. On an adjusted basis, it earned $1.44 per share for the quarter through June, above analysts' estimate of $1.14 per share, according to data compiled by LSEG. Total quarterly sales fell about 3% to $10.63 billion, while the estimate was $10.23 billion.
Yahoo
a day ago
- Business
- Yahoo
Xylem raises 2025 forecasts on strong demand for its water solutions
(Reuters) -Water technology firm Xylem on Thursday raised its annual sales and profit forecasts, citing resilient demand and strong operational performance that helped the company surpass Wall Street estimates for its second-quarter results. Shares of the company rose about 2% in premarket trading. The company said productivity savings and strong price realization drove margin expansion that exceeded the impact of inflation. "Our simplification efforts have already yielded measurable gains in speed, accountability, and customer responsiveness," CEO Matthew Pine said in a statement. Xylem now expects adjusted earnings per share in 2025 to range between $4.70 and $4.85, up from its prior forecast of between $4.50 and $4.70. The company projected 2025 sales of $8.90 billion and $9 billion, above its previous expectations of $8.70 billion to $8.80 billion. Analysts, on average, had expected earnings of $4.64 per share and sales of $8.76 billion, according to LSEG-compiled data. Sales from Xylem's water infrastructure unit, which sells products like water and wastewater pumps, was $650 million in the quarter, exceeding analysts' expectations of $640.27 million. Its applied water unit, which sells pumps, valves and other equipment, recorded sales of $483 million, above expectations of $462.27 million. On an adjusted basis, Xylem earned $1.26 per share for the quarter, while analysts on average expected the company to earn $1.16 per share. The company reported quarterly revenue of $2.30 billion, compared with analysts' estimates of $2.21 billion. 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
Reuters
2 days ago
- Business
- Reuters
Agrichemicals firm FMC to divest India business amid market pressures
July 30 (Reuters) - Agrichemicals company FMC Corp (FMC.N), opens new tab said on Wednesday it intends to divest its commercial business in India, in response to challenges in the country. Shares of the company, which also lowered its forecast for annual sales, rose over 1% in trading after the bell. FMC, which makes insecticide and fungicide, saw a sharp drop in demand in 2023 as high inventory levels of crop chemicals across several regions had weighed in on earnings. While the company expects demand to bounce back in most regions, FMC said the market conditions in India were still challenging, given high inventory levels. The South Asian country is also entangled in a trade war with U.S. President Donald Trump, who earlier today announced a 25% tariff on goods imported from India. The White House had previously warned India about its high average applied tariffs — nearly 39% on agricultural products. FMC said the sale process was underway and is expected to conclude within the next year. It plans to continue to actively participate in the Indian market through a supply agreement with the potential buyer of the business. FMC said it would also continue running its active ingredient manufacturing operations in India. The herbicide maker also said on Wednesday it expects net sales to be in the range of $4.08 billion to $4.28 billion in 2025, compared to its prior outlook of $4.15 billion to $4.35 billion.
Bloomberg
23-07-2025
- Business
- Bloomberg
Infosys Narrows Sales Forecast Amid Cautious Client Spending
Information technology giant Infosys Ltd. raised the lower end of its sales forecast for the year, signaling it had more certainty of how cautious clients would spend on business transformation projects. Revenue will grow 1% to 3% on a constant-currency basis in the year through March 2026, India's second-largest outsourcing provider said Wednesday. In April, it had predicted sales would stay flat or grow as much as 3%. Analysts estimated 2.6% on average.
