CVS Health Corp. on Wednesday lifted its full-year adjusted earnings forecast after robust demand for COVID-19 vaccinations and tests helped the U.S. healthcare conglomerate beat analysts’ estimates for third-quarter profit. Rival Walgreens Boots Alliance also signaled a boost from higher demand for vaccinations following the spread of the Delta variant. CVS said it had administered…
CVS Sees Higher Adjusted Profit as COVID-19 Tests, Vaccinations Rebound
November 3, 2021
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Refiner Marathon Beats Profit Expectations on Robust Fuel Demand
Marathon Petroleum Corp. beat quarterly profit estimates on Tuesday as a rebound in fuel consumption helped the largest U.S. refiner tide over the surging cost of crude oil. Marathon’s results followed strong earnings from other energy companies. Valero, which was the first major U.S. refiner to report quarterly earnings, and PBF beat analysts’ estimates as…
‘Cash Machine’ BP Boosts Share Buyback as Profit Surges
LONDON—BP added more than a billion dollars to its share buyback programme on Tuesday as it likened itself to a “cash machine” benefiting from higher oil and gas prices and a strong trading performance in the third quarter. Natural gas and power prices around the world surged this autumn as tight gas supplies collided with…
Ryanair Posts First Quarterly Profit Since 2019 but Sees Annual Loss
DUBLIN—Ryanair on Monday reported its first quarterly profit since before COVID-19, but downgraded its annual forecast to a loss of up to 200 million euros ($231 million) on plans to sell discounted tickets over the winter and higher fuel costs. Europe’s largest budget airline, which operated more flights this summer than any European rival, posted…
Mastercard Profit Beats as Easing Pandemic Curbs Lift Cross-Border Spending
October 28, 2021
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Mastercard Inc. reported better-than-expected profit for the fourth consecutive quarter on Thursday, as easing of pandemic-era restrictions drove a healthy recovery in cross-border spending and lifted domestic spending. Shares were up nearly 3 percent at $345 in premarket trading. After more than a year of staying homebound, customers have started venturing out for travel, dining,…
Taco Bell, KFC Power Yum Brands Quarterly Profit, Revenue Beat
KFC owner Yum Brands Inc. beat Wall Street estimates for quarterly revenue and profit on Thursday, as steady demand for its fried chicken and tacos cushioned the blow from a slowdown in sales in its Pizza Hut chain. Rival fast-food chains Chipotle Mexican Grill and McDonald’s have also delivered a strong beat in the quarter,…
Merck Raises Full-Year Profit Target After Cancer Drug Sales Help Third-Quarter Beat
Merck & Co. Inc. raised its full-year adjusted profit forecast on Thursday, after strong demand for its blockbuster cancer drug Keytruda and recovery in sales of its non-COVID-19 vaccines helped it beat third-quarter profit estimates. Sales of vaccines and physician-administered drugs have started to improve as hospitals and clinics adapt to the pandemic, helping Merck,…
Industrial Giant 3M Lowers Profit Outlook on Supply Chain Woes
3M Co. cut its full-year earnings forecast on Tuesday, as the diversified manufacturer battles rising inflation, supply chain bottlenecks, and higher commodity prices. While demand for goods has rebounded with massive stimulus and the reopening of economies, a labor shortage and soaring raw material prices have left U.S. manufacturers in the lurch. Shares of 3M,…
UPS Delivers Profit, Revenue Beat on E-commerce Demand
United Parcel Service Inc. reported better-than-expected quarterly earnings and revenue on Tuesday, bolstered by strong e-commerce demand that has allowed the delivery firm to raise shipping prices and cherry-pick more profitable customers. The company also raised its full-year adjusted operating margin target to about 13 percent from about 12.7 percent, ahead of the holiday season….
AmEx Touts Appeal Among Young Users After Profit Beats on Spending Recovery
American Express Co. reported a higher profit that topped Wall Street estimates for the fourth straight quarter, as higher usage of its cards, particularly by millennial and Gen Z customers, fueled a strong recovery in overall spending. After months of stagnation, credit-card issuers like AmEx are starting to see a turnaround in spending with resumption…
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