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This collection of articles explores the fallout of the war in Ukraine on Western companies operating in Russia
...Each of the company’s non-voting shares — a quarter of the total in issue — were converted into an ordinary share carrying voting rights....
...The company is now bracing for an operating loss of €450mn, from a previous expectation of a €700mn loss....
...Shares in Sharpie maker Newell Brands surged 10.8 per cent, after it reported its gross margin expanded from the prior year as its restructuring plan helps to increase operating cash flow....
...The company reported adjusted operating profit of €577mn on revenues of €12.8bn to the end of March. Free cash outflow was €1.8bn because of higher inventory as it builds up production....
...Companies: Oil majors Chevron and ExxonMobil release earnings covering the first three months of the year. AbbVie, Colgate-Palmolive, Phillips 66, T Rowe Price and Newell Brands also report results....
...Shares of Sharpie maker Newell Brands jumped 6.8 per cent after the company beat analysts’ expectations in its most recent quarter and promised to restore strong operating cash flow....
...Ford lost $1.3bn in operating earnings due to the United Auto Workers’ strike of nearly six weeks, the company said on Thursday, a day after striking a deal with the union....
...Shares of online used auto retailer Carvana rallied more than 40 per cent on Friday after the company announced record operating profits in 2023....
...Indian infrastructure tycoon Gautam Adani’s flagship company withstood a collapse in coal trading revenues to post a rise in quarterly operating profits, in results published Thursday....
...The statutory figures were significantly worse, with the company banking an operating loss of £21.4mn....
...The Korean company, which supplies the “high bandwidth memory” chips used in Nvidia’s H100 GPUs, posted an operating profit of Won346bn ($260mn), outstripping analysts’ expectations compiled by LSEG SmartEstimate...
...The Danish group, the world’s second-largest container company, said underlying operating profit in 2024 would range from a loss of $5bn to zero and would be “front-loaded” to the start of the year....
...Shares of Newell Brands shed almost a tenth of their value after the US consumer goods group unexpectedly swung to a loss and as the chief executive announced his plans to retire....
...The move highlights some of the fallout western companies are feeling from the punitive measures against Moscow....
...Pizer previously worked as vice-president for research and policy engagement at RFF and succeeds Richard Newell....
...Chief executive George Weston said the performance was driven by investments in the company over the past few years such as opening new stores or automating some warehouses, and profit margins “recovering...
...The company reported revenue increased 7.6 per cent to $43bn in the first quarter, beating analyst expectations for $42bn. Adjusted operating earnings rose 2 per cent to $3.9bn....
...A manageable debt position supports the company’s hopes for a share buyback programme....
...Analysts had expected first-half operating profit to shrink by 24-30 per cent, according to estimates compiled by Bloomberg....
...In results for the three months to March the lender reported pre-tax operating profit of £1.3bn, compared with £1.8bn in the same period a year earlier — in line with analyst expectations....
...Operating profit was up by nearly a fifth to £146mn, but the firm said this was driven by “one-off property related income”....
...Daniel Richards, a director at London-based maritime consultancy MSI, said delays at the ports could force some companies to hold extra stock....
...And here’s what I’m keeping tabs on today and over the weekend: Company earnings: Beverage and snack producer PepsiCo, Newell Brands and AMC networks publish results this morning....
...Meanwhile, international delivery division GLS is expected to make £350mn in operating profits next fiscal year. That unit makes similar operating margins to Deutsche Post DHL....
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