Radian Group Inc Q1 Profit Decreases, but beats estimates
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APA Corporation Bottom Line Declines In Q1
APA Corporation (APA) revealed a profit for first quarter that decreased from last year
The company’s bottom line came in at $242 million, or $0.78 per share. This compares with $1.88 billion, or $5.43 per share, in last year’s first quarter.
Excluding items, APA Corporation reported adjusted earnings of $372 million or $1.19 per share for the period.
The company’s revenue for the quarter fell 47.0% to $2.03 billion from $3.83 billion last year.
APA Corporation earnings at a glance (GAAP) :
-Earnings (Q1): $242 Mln. vs. $1.88 Bln. last year.
-EPS (Q1): $0.78 vs. $5.43 last year.
-Revenue (Q1): $2.03 Bln vs. $3.83 Bln last year.
Oil Futures Settle Sharply Lower On Growth Worries
Crude oil prices fell sharply on Wednesday amid concerns about economic growth and the outlook for energy demand as well as data showing an increase in gasoline inventories.
The Federal Reserve’s decision to raise interest rate by 25 basis points also weighed on oil prices.
West Texas Intermediate Crude oil futures for June ended down $3.06 or about 4.3% at $68.60 a barrel, the lowest settlement since March 24.
Brent crude futures ended lower by $2.99 or about 4% at $72.33 a barrel, the lowest close since December 2021.
Data released by Energy Information Administration (EIA) showed crude inventories dropped by 1.3 million barrels last week versus forecasts for a 1.1 million barrel drop.
Meanwhile, the data showed gasoline inventories rose by 1.7 million barrels last week compared to an expected drop of 1.2 million barrels.
Data released by the American Petroleum Institute on Tuesday showed crude oil inventories in the U.S. falling by 3.94 million barrels in the week ended April 28, higher than market expectations of a 1 million barrel decline. Inventories had fallen by 6.1 million barrels in the previous week.
Following the Fed’s rate hike, the European Central Bank is also likely to raise interest rate by 25 basis points on Thursday
European Economic News Preview: Eurozone Economic Sentiment Data Due
Economic confidence data from the euro area is the top economic news due on Thursday, headlining a light day for the European economic news.
At 2.00 am ET, Statistics Norway releases retail sales and household consumption data. Sales are forecast to grow 0.3 percent on month in March, following a 0.2 percent rise in February.
In the meantime, flash GDP data is due from Sweden. Economists forecast the economy to grow 0.2 percent annually in the first quarter, in contrast to the 0.6 percent fall in the preceding period.
At 3.00 am ET, Spain’s INE releases retail sales and unemployment data. The jobless rate is seen at 12.9 percent in the first quarter.
At 4.00 am ET, Italy’s statistical office Insee is set to issue business and consumer confidence survey data. The consumer confidence index is forecast to rise to 105.5 in April from 105.1 in March. At the same time, the business sentiment index is expected to fall to 104 from 104.2 in the previous month.
At 5.00 am ET, the European Commission publishes euro area economic confidence survey results. The economic confidence index is forecast to rise to 99.9 in April from 99.3 in March.
Amedisys Q1 Profit Decreases, but beats estimates
Amedisys (AMED) announced a profit for first quarter that decreased from the same period last year but beat the Street estimates.
The company’s earnings came in at $25.25 million, or $0.77 per share. This compares with $31.67 million, or $0.97 per share, in last year’s first quarter.
Excluding items, Amedisys reported adjusted earnings of $32.74 million or $1.00 per share for the period.
Analysts on average had expected the company to earn $0.88 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter rose 2.0% to $556.39 million from $545.26 million last year.
Amedisys earnings at a glance (GAAP) :
-Earnings (Q1): $25.25 Mln. vs. $31.67 Mln. last year.
-EPS (Q1): $0.77 vs. $0.97 last year.
-Analyst Estimates: $0.88
-Revenue (Q1): $556.39 Mln vs. $545.26 Mln last year.
-Guidance:
Full year EPS guidance: $4.14 – $4.36
Full year revenue guidance: $2.254 – $2.274 Bln
Radian Group Inc Q1 Profit Decreases, but beats estimates
Radian Group Inc (RDN) reported earnings for first quarter that decreased from the same period last year but beat the Street estimates.
The company’s bottom line came in at $157.76 million, or $0.98 per share. This compares with $181.13 million, or $1.01 per share, in last year’s first quarter.
Excluding items, Radian Group Inc reported adjusted earnings of $0.98 per share for the period.
Analysts on average had expected the company to earn $0.74 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter rose 6.0% to $310.62 million from $292.98 million last year.
Radian Group Inc earnings at a glance (GAAP) :
-Earnings (Q1): $157.76 Mln. vs. $181.13 Mln. last year.
-EPS (Q1): $0.98 vs. $1.01 last year.
-Analyst Estimates: $0.74
-Revenue (Q1): $310.62 Mln vs. $292.98 Mln last year.