Western Union Co Q1 Profit Decreases, but beats estimates

The Hanover Insurance Group Q1 Earnings Summary

Below are the earnings highlights for The Hanover Insurance Group (THG):

Earnings: -$12.0 million in Q1 vs. $104.9 million in the same period last year.
EPS: -$0.34 in Q1 vs. $2.90 in the same period last year.
Excluding items, The Hanover Insurance Group reported adjusted earnings of $4.6 million or $0.13 per share for the period.

Analysts projected $0.40 per share
Revenue: $1.42 billion in Q1 vs. $1.31 billion in the same period last year.

Crude Oil Futures Settle Sharply Lower On Demand Worries

Crude oil prices tumbled on Tuesday on concerns about the outlook for energy demand amid fears of a potential recession in the U.S.

Data showing a contraction in Chinese manufacturing activity in April raised concerns about the outlook for oil demand. Worries about a U.S. debt default, and a drop in U.S. factory output weighed as well on oil prices.

Traders looked ahead to the Federal Reserve’s monetary policy announcement, due on Wednesday. The Fed is widely expected to raise interest rates by 25 basis points. The accompanying statement and Fed Chair Jerome Powell’s post meet press conference will be in focus for clues about the central bank’s future policy moves.

West Texas Intermediate Crude oil futures for June ended lower by $4.00 or about 5.3% at $71.66 a barrel, the lowest close since March 24.

Brent crude futures were down $3.95 or about 5% at $75.36 a barrel a little while ago.

Treasury Secretary Janet Yellen said the U.S. government could run out of money within a month. The cost of insuring against a U.S. default hit fresh highs after Yellen said the government will be unlikely to meet all payment obligations by “early June.”

Weekly oil reports from the American Petroleum Institute (API) and Energy Information Administration (EIA) are eyed. The API data is due later today, while EIA’s report is due Wednesday morning.

Australia Inflation Slows In Q1

Australia’s consumer price inflation slowed in the first quarter, easing pressure on the central bank to lift its interest rate next week.

Consumer prices increased 7.0 percent from the last year, slower than the 7.8 percent rise in the preceding quarter, the Australian Bureau of Statistics reported Wednesday.

New dwellings, domestic holiday travel and accommodation and electricity prices were the most significant contributors.

On a quarterly basis, inflation moderated to 1.4 percent from 1.9 percent in December. However, this was slightly above forecast of 1.3 percent.

ABS head of prices statistics Michelle Marquardt said CPI inflation slowed in the March quarter, with the quarterly rise being the lowest since December 2021.

Annual trimmed mean inflation was 6.6 percent, slower than the 6.9 percent in the December quarter. The rate was seen slowing to 6.7 percent.

The monthly CPI indicator rose 6.3 percent annually in March, following rises of 6.8 percent in February and 7.4 percent in January. The expected rate was 6.5 percent.

The Reserve Bank of Australia has raised its key interest rate by a cumulative 350 basis points since last May. At the April meeting, the bank decided to halt its tightening to assess the full impact of the previous hikes. The next monetary policy announcement is due on May 2.

Advanced Micro Devices Inc. Q1 Earnings Summary

Below are the earnings highlights for Advanced Micro Devices Inc. (AMD):

Earnings: -$139 million in Q1 vs. $786 million in the same period last year.
EPS: -$0.09 in Q1 vs. $0.56 in the same period last year.
Excluding items, Advanced Micro Devices Inc. reported adjusted earnings of $970 million or $0.60 per share for the period.

Analysts projected $0.56 per share
Revenue: $5.35 billion in Q1 vs. $5.89 billion in the same period last year.

-Guidance:
Next quarter revenue guidance: $5.2 – $5.4 Bln

Edison International Q1 Profit Increases, beats estimates

Edison International (EIX) released a profit for its first quarter that increased from last year and beat the Street estimates.

The company’s earnings came in at $310 million, or $0.81 per share. This compares with $84 million, or $0.22 per share, in last year’s first quarter.

Excluding items, Edison International reported adjusted earnings of $416 million or $1.09 per share for the period.

Analysts on average had expected the company to earn $0.95 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

Revenue came in at $3.97 billion, equal to the mark posted in the same period last year.

Edison International earnings at a glance (GAAP) :

-Earnings (Q1): $310 Mln. vs. $84 Mln. last year.
-EPS (Q1): $0.81 vs. $0.22 last year.
-Analyst Estimate: $0.95
-Revenue (Q1): $3.97 Bln vs. $3.97 Bln last year.

-Guidance:
Full year EPS guidance: $4.55 – $4.85

Chesapeake Energy Corp. Q1 Earnings Summary

Below are the earnings highlights for Chesapeake Energy Corp. (CHK):

Earnings: $1.39 billion in Q1 vs. -$0.76 billion in the same period last year.
EPS: $9.60 in Q1 vs. -$6.32 in the same period last year.
Excluding items, Chesapeake Energy Corp. reported adjusted earnings of $270 million or $1.87 per share for the period.

Analysts projected $1.72 per share
Revenue: $3.37 billion in Q1 vs. $0.94 billion in the same period last year.

Western Union Co Q1 Profit Decreases, but beats estimates

Western Union Co (WU) released earnings for first quarter that decreased from last year but beat the Street estimates.

The company’s bottom line totaled $151.8 million, or $0.40 per share. This compares with $293.3 million, or $0.74 per share, in last year’s first quarter.

Excluding items, Western Union Co reported adjusted earnings of $162.6 million or $0.43 per share for the period.

Analysts on average had expected the company to earn $0.34 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter fell 10.3% to $1.04 billion from $1.16 billion last year.

Western Union Co earnings at a glance (GAAP) :

-Earnings (Q1): $151.8 Mln. vs. $293.3 Mln. last year.
-EPS (Q1): $0.40 vs. $0.74 last year.
-Analyst Estimates: $0.34
-Revenue (Q1): $1.04 Bln vs. $1.16 Bln last year.

-Guidance:
Full year EPS guidance: $1.55 to $1.65