Marathon Oil Q4 Loss Narrower Than Street View

READ: Aurora’s full independent investigation into Elijah McClain’s death

Aurora city officials on Monday morning released the 157-page report from the independent investigation into the death of Elijah McClain following a violent encounter with city police and sedation by paramedics.

The investigation found hat Aurora police officers did not have a legal basis to force McClain to stop walking, to frisk him or to use a chokehold on him.

The city hired a panel of investigators to examine the officers’ and paramedics’ decisions and make policy recommendations “to lessen the chance of another tragedy like this one from happening again,” the report states.

EARNINGS SUMMARY: Details of China HGS Real Estate Inc. Q1 Earnings Report

Below are the earnings highlights for China HGS Real Estate Inc. (HGSH):

-Earnings: $0.29 million in Q1 vs. -$0.26 million in the same period last year.
-EPS: $0.01 in Q1 vs. -$0.01 in the same period last year.
-Revenue: $2.76 million in Q1 vs. $2.30 million in the same period last year.

American States Water Co. Q4 Income Climbs

American States Water Co. (AWR) released earnings for its fourth quarter that climbed from last year.

The company’s earnings came in at $20.21 million, or $0.54 per share. This compares with $16.70 million, or $0.45 per share, in last year’s fourth quarter.

Analysts had expected the company to earn $0.47 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 9.9% to $124.20 million from $112.99 million last year.

American States Water Co. earnings at a glance:

-Earnings (Q4): $20.21 Mln. vs. $16.70 Mln. last year.
-EPS (Q4): $0.54 vs. $0.45 last year.
-Analysts Estimate: $0.47
-Revenue (Q4): $124.20 Mln vs. $112.99 Mln last year.

SBA Communications Corporation Q4 adjusted earnings Beat Estimates

SBA Communications Corporation (SBAC) revealed a profit for its fourth quarter that advanced from the same period last year.

The company’s profit totaled $105.78 million, or $0.94 per share. This compares with $67.35 million, or $0.59 per share, in last year’s fourth quarter.

Excluding items, SBA Communications Corporation reported adjusted earnings of $280.09 million or $2.49 per share for the period.

Analysts had expected the company to earn $0.52 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 4.3% to $535.91 million from $513.66 million last year.

SBA Communications Corporation earnings at a glance:

-Earnings (Q4): $280.09 Mln. vs. $248.82 Mln. last year.
-EPS (Q4): $2.49 vs. $2.18 last year.
-Analysts Estimate: $0.52
-Revenue (Q4): $535.91 Mln vs. $513.66 Mln last year.

Marathon Oil Corp. Q4 adjusted earnings Beat Estimates

Below are the earnings highlights for Marathon Oil Corp. (MRO):

-Earnings: -$338 million in Q4 vs. -$20 million in the same period last year.
-EPS: -$0.43 in Q4 vs. -$0.03 in the same period last year.
-Excluding items, Marathon Oil Corp. reported adjusted earnings of -$98 million or -$0.12 per share for the period.
-Analysts projected -$0.20 per share
-Revenue: $0.83 billion in Q4 vs. $1.22 billion in the same period last year.

DGA Condemns Rise Of Hate Crimes & Discrimination Against Asian Americans

The Directors Guild said today that it “strongly condemns the rising hate crimes, racial harassment, and discrimination against Asian Americans since the onset of the Covid-19 pandemic. There is no place in our society for these hateful acts fueled by incendiary rhetoric, scapegoating, and unjust stereotyping targeted at people of Asian descent.”

Many published reports on the rise of hate crimes against Asian Americans attribute it to incendiary comments made by former President Donald Trump about the origins of the coronavirus.

“We and our Asian American Committee stand in solidarity with our Asian American members and the greater community impacted by these malicious attacks,” the DGA said, urging members to report incidents of racism in the workplace to the DGA’s Racial Harassment Hotline.

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Marathon Oil Q4 Loss Narrower Than Street View

Marathon Oil Corp. (MRO) Monday reported a fourth-quarter loss that was narrower than Wall Street analysts’ estimates, helped by lower expenses. However, revenues fell short of expectations.

Houston, Texas-based Marathon Oil reported fourth-quarter loss of $338 million or $0.43 per share, wider than last year’s loss of $20 million or $0.03 per share.

Adjusted net loss for the quarter was $98 million or $0.12 per share. Analysts polled by Thomson Reuters estimated a loss of $0.20 per share.

Fourth-quarter revenues dropped to $830 million from $1.22 billion last year. Analysts had a consensus revenue estimate of $838.05 million for the quarter.

Chairman, President, and CEO Lee Tillman said, “We reduced our cash costs by more than 20%, protected our investment grade balance sheet, reduced our gross debt, meaningfully improved our GHG emissions intensity, and ultimately generated about $280 million of free cash flow.”

Total costs and expenses for the quarter dropped to $1.08 billion from $1.14 billion last year, with general and administrative costs down 23%. Cost saving measures included salary reductions for the board and certain corporate officers, as well as employee and contractor workforce reductions.

U.S. production averaged 280,000 net barrels of oil equivalent per day (boed) for fourth quarter.

Marathon Oil also announced a $1.0 billion capital expenditure budget for 2021.

MRO closed Monday’s trading at $10.20, up $0.75 or 7.94%, on the Nasdaq. The stock further gained $0.20 or 1.91% in the after-hours trade.