All posts tagged "Corporateearnings"

The United Auto Workers' 44-day strike against Stellantis NV is expected to reduce the company's net income by less than $800 million (750 million euro), the least of the Detroit automakers, Chief Financial Officer Natalie Knight said Tuesday. Knight's remarks came during a conference call as the automaker reported its global third-quarter revenue and shipments, which increased 7% and 11%, respectively, year-over-year. In North America, net revenues rose 2% despite the strike-induced hit to net income. By comparison, Ford Motor Co. last week said a 41-day UAW strike cost it $1.3 billion. Gener......

The Detroit Three's nearly $21 billion combined profits in the first half of 2023, reported this week, are likely to intensify demands by the United Auto Workers in national contract talks this summer. Ford Motor Co. said Thursday it made $3.7 billion in net income in the first six months of the year, up from a loss of $2.4 billion in 2022. That included $1.9 billion in net income in the second quarter, nearly triple the results from the April-to-June quarter last year. As a result, the Dearborn, Michigan, automaker increased its full-year guidance by $2 billion in adjusted operating income, b......

Recession concerns may be weighing on consumer minds, but General Motors Co. showed Tuesday those fears aren’t affecting its sales or financial performance. Powered by a successful first three months of the year, the Detroit automaker outperformed Wall Street expectations in its first-quarter earnings. And it increased guidance for the year, upping its adjusted earnings before taxes target to between $11 billion and $13 billion, an improvement over the previous outlook of $10.5 billion to $12.5 billion. The results are the first glimpse into a crucial year for GM and crosstown rivals Ford Moto......

A banging sound is believed to have triggered a shootout at an Alabama Sweet 16 party, where 89 bullets were fired from at least seven guns. The April 15 chaos began after a stereo speaker fell with a loud thud, Special Agent Jess Thornton reportedly said at a Tuesday morning bail hearing. That fallen speaker seemingly prompted several partygoers to lift their shirts to show they were packing heat inside the 38-foot-by-20-foot Mahogany Masterpiece dance studio, where up to 60 people showed up to celebrate Alexis Dowdell’s birthday. When Dowdell’s mom said any minors carrying guns had to leave,......

ORLANDO, Fla. — Walt Disney Co. executives boasted about another blockbuster quarter Wednesday at its theme parks even as they remained mum about the feud with Florida Gov. Ron DeSantis. During an earnings call, executives did not mention the widespread criticism levied at Disney for its response to Florida’s so-called “don’t say gay bill” in March — which intensified after the bill passed the Legislature and Disney CEO Bob Chapek vowed to fight it. The entertainment giant’s fight with DeSantis intensified in mid-April, leading to the dissolution of the Reedy Creek Improvement District and som......

Amazon’s profit in the third quarter of this year fell by nearly 50% compared with the same period in 2020, to $3.2 billion, driven by higher wage and shipping costs as well as a massive warehousing expansion to meet sustained demand for online shopping. At a cost of billions, the company has nearly doubled the size of its fulfillment network since the start of the pandemic, Amazon Chief Financial Officer Brian Olsavsky said in a call with reporters Thursday. For the first time since the pandemic began, he added, “we are no longer capacity-constrained in our physical network.” Now, supply chai......