) rose on Tuesday after it beat Wall Street expectations for quarterly results, driven by a revival in demand at its Burger King outlets as well as continued strength at the Tim Hortons chain.
Quarterly comparable sales at U.S. Burger King outlets rose 3.9 per cent, edging past analysts’ estimates of a 3-per-cent rise, as per LSEG data. “Our top priority is making more product and we’re doing everything we can to do that,” CEO David Ricks told CNBC. Mr. Ricks said the production of these drugs was a capital intensive, technically complex and highly regulated process.Eli Lilly now expects 2024 revenue of $42.4 billion to US$43.6-billion, up from its prior forecast of US$40.4-billion to US$41.6-billion.
The phosphate producer curtailed output after fertilizer prices dropped last year due to lukewarm demand from key markets.) was up after raising its annual organic sales forecast on Tuesday after beating first-quarter revenue and profit expectations as customers shell out more money for its pricey sodas and juices globally.
“They are doing good in certain international markets, which are a little bit more used to the effects of inflation, and Coca-Cola has frankly a lot of brand power so they are not seeing that kind of erosion,” said Christian Greiner, senior portfolio manager at F/m Investments, which owns shares of the beverage giant.
The company maintained its annual comparable earnings per share forecast of 4-per-cent to 5-per-cent growth. “We improved performance in our businesses through strong operational execution, completed the spin-off of Solventum, and finalized two major legal settlements,” outgoing 3M CEO Mike Roman said.
Global comparable sales growth slid for the fourth straight quarter to 1.9 per cent, with the company saying consumers turned “more discriminating with every dollar they spend”. Analysts had estimated a 2.35-per-cent rise, according to LSEG data. Earlier this year, CEO Chris Kempczinski had flagged “meaningful business impact” due to the conflict as well as “associated misinformation” about the brand.
Adjusted per-share profit came in at US$2.70, below an estimated US$2.72, according to LSEG data. Total operating costs and expenses increased 2 per cent to US$3.43-billion.) was lower after swinging to a loss and reporting a weaker-than-anticipated earnings result for its first quarter of the current fiscal year.
Rebecca Tinucci, senior director of the electric vehicle maker’s Supercharger business, and Daniel Ho, head of new products, will leave on Tuesday morning, The Information reported. Earlier this month, Tesla ordered the layoffs of more than 10 per cent of its global workforce, as it grapples with falling sales and an intensifying price war for electric vehicles .) missed expectations with a 12-per-cent drop for its first quarter revenue, sending shares down, but said it was confident new models would support its growth and profitability in the second half of the year.
Stellantis consolidated shipments fell 10 per cent in the quarter to 1.335 million units, although unit sales of fully electric vehicles were up 8 per cent.
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