) were higher on Thursday after it beat first-quarter revenue expectations, lifted its annual financial forecast and raised its annual dividend by 10 per cent to US$2.16 as it continued to invest heavily in artificial intelligence.
“We remain committed to investing in content-driven technology that helps professionals make complex decisions with confidence,” Thomson Reuters CEO Steve Hasker said. It forecast total revenue from its big three business segments of legal, tax and accounting and corporates, to rise by between 8 per cent and 8.5 per cent, up from 8 per cent.) increased despite missing analysts’ estimates for first-quarter profit on Thursday, hurt by lower-than-expected production, along with a decrease in sales and realized pricing.
The realized natural gas price fell 40 per cent to $2.55 per thousand cubic feet on average for the quarter from a year earlier, while in oil sands mining, SCO prices decreased nearly 8 per cent to an average $88.84 per barrel. Overall production came in at 1.33 million barrels of oil equivalent per day , lower than analysts’ expectations of 1.35 million boepd.
Mr. Tyra and other Gildan executives attributed the lower results in its first quarter not to the leadership battle but expected softness that materialized in its hosiery and underwear segment.Sales across the category totalled US$103.7-million, down 10 per cent from a year earlier. They reflected “broader market weakness” and a March end to the licensing agreement the company had with sportswear giant Under Armour.
These developments weighed on Gildan, which is known for manufacturing clothing that brands and consumers customize with their logos. Mr. Tyra saw the quarter as showing the company’s “resilience” and he and other Gildan leaders who joined him on the call highlighted the performance of the business’s activewear division, which saw its sales rise just shy of one per cent from a year ago to US$592.1 million.
Mr. Tyra responded saying he had interviewed some of the candidates who are slated to join the board, but the decision of who was offered a seat was not his.Gildan also said Wednesday that its diluted earnings per share were 47 US cents for the quarter, which compared with 54 US cents a year earlier. Analysts had expected the company to report a gain of about 52 cents US per share, according to financial markets data firm Refinitiv.
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: globeandmail - 🏆 5. / 92 Read more »
Source: globebusiness - 🏆 31. / 66 Read more »
Source: globeandmail - 🏆 5. / 92 Read more »
Source: YahooFinanceCA - 🏆 47. / 63 Read more »