) saw gains after it reported a higher-than-expected cash burn in the first quarter on Thursday as the Canadian planemaker builds up inventory to support increased production of business jets amid resilient demand for private flying.
Bombardier is facing a challenge from rival General Dynamics’ Gulfstream, which is starting deliveries of its flagship G700 luxury jet that was certified last month. Quarterly profit fell to $110-million from $302-million. On a per share basis, adjusted profit was 36 cents per share, above estimates of 28 cents per share.
“We had strong first quarter performance...with steadily increasing quarterly copper production as QB ramp-up advances,” CEO Jonathan Price said in a statement. Steelmaking coal production in the first quarter came in at 6 million tons, the same levels seen in the year-ago period, impacted by extreme freezing temperatures in mid-January that resulted in frozen plant components and unplanned downtime.
The Denver, Colorado-based Newmont’s quarterly attributable gold production rose to 1.7 million ounces from 1.27 million ounces a year earlier, boosted through sites acquired following its acquisition of Australia’s Newcrest A$26.2 billion in November. In a research note, Desjardins Securities analyst Benoit Poirier said: ”ARE reported stronger-than-expected 1Q24 results. While revenue of $847-million came in significantly below consensus of $997-million and our forecast of $998-million, adjusted EBITDA of $33-million was above consensus of $23-million and our estimate of $21-million. Fully diluted EPS of a loss of 10 cents was also better than consensus of a 20-cent loss and our forecast of an 18-cent loss.
Sales of Keytruda stood at US$6.95-billion for the first quarter, jumping 20 per cent from the previous year and surpassing analysts’ estimates of US$6.66-billion, according to LSEG data. The U.S. Food and Drug Administration last month approved Merck’s potential blockbuster treatment Winrevair for adults with high blood pressure due to constriction of lung arteries, and the company said doctors had started writing prescription for the drug.
Mr. Ajdler accused the company of being a poor allocator of capital, saying it had paid too much for acquisitions, bought back shares and months later issued stock at a lower price, mismanaged the refinancing of $345-million in convertible debt and made “unnecessary” expenditures totaling $134-millinon related to acquisition, restructuring and other costs over the last three years.
Mullen Group chair and senior executive officer Murray Mullen says consumer demand continued to decline, capital investment was noticeably weaker and major project construction activity virtually ground to a halt. Weakness in smaller discretionary projects affected the consulting segment, but analysts at J.P.Morgan said the backlog could help reaccelerate the business through 2024.
Coming off of a strong 2023 where supply chain concerns and soaring demand prompted dealers to bulk up on tractors, combines and construction equipment, U.S. machinery makers are now seeing a moderation in product stocking at dealers, forcing them to tighten their inventories. The higher prices offset the impact from lingering supply chain constraints and higher costs of steel, helping Caterpillar’s quarterly adjusted profit of US$5.60 per share surpass estimates of US$5.14, according to LSEG data.
The carmaker recorded a US$1.3-billion operating loss for its EV and software division in the first quarter. More broadly, executives expect this section of the company to sustain a pre-tax loss of between US$5-billion to US$5.5-billion for the year. Ford expects EV production costs to come down, but to be largely offset by intense pricing pressure from industry competitors, said Chief Financial Officer John Lawler.
The automaker will likely have slower, more deliberate launches in the future in its effort to root out costly quality issues, executives said. “With auto inventories now at much higher levels and a higher-for-longer interest rate scenario unfolding, we expect new vehicle prices to remain under pressure and incentives to continue increasing,” CFRA Research analyst Garrett Nelson said in a research note.) in 2024 for the third time on Thursday and said it plans to undertake cost-cutting measures to ease the resultant blow.
المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين
Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.
مصدر: globebusiness - 🏆 31. / 66 اقرأ أكثر »
مصدر: globeandmail - 🏆 5. / 92 اقرأ أكثر »
مصدر: globebusiness - 🏆 31. / 66 اقرأ أكثر »
مصدر: YahooFinanceCA - 🏆 47. / 63 اقرأ أكثر »
مصدر: YahooFinanceCA - 🏆 47. / 63 اقرأ أكثر »
مصدر: YahooFinanceCA - 🏆 47. / 63 اقرأ أكثر »