Indianapolis-based Hurco suffers largest quarterly loss since 2002
The Indianapolis-based machine tool manufacturer said shutdowns related to the COVID-19 pandemic had a dramatic effect on its sales.
Financial Results
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Beech Grove Ponderosa, once a sales superstar, closes due to pandemic
The Beech Grove location’s owner, Fishers-based CMR Partners LLP, has also closed its three other Ponderosa locations since mid-July.
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Simon Property misses Wall Street expectations as profit sinks
The Indianapolis-based shopping mall operator said all of its U.S. properties have reopened, with the exception of a handful in California that were forced to close for a second time on July 15 because of government mandates.
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Cummins exceeds expectations despite historic drop in quarterly revenue
Cummins said it expects sales to improve in the third quarter, although the pandemic continues to create considerable uncertainty.
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Allison Transmission sees first-quarter profit, revenue decline
The Indianapolis-based manufacturer took a blow in the first quarter due to the pandemic, but still turned in results that exceeded analyst expectations.
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Articles
Allegion sees quarterly profit tumble due to COVID-19-related costs
The security-products maker, whose North American headquarters are in Carmel, exceeded analyst expectations despite a $96.3 million impairment charge because of COVID-19-related uncertainty.
KAR rethinks strategy for startup after it loses $125M in two years
Auto auction giant KAR Global’s bet on a phone app that facilitates dealer-to-dealer car sales has cost it a fortune over the past two years—so much so that KAR now is retooling its strategy for the fast-growing division.
Calumet Specialty Products CEO set to leave company
Calumet CEO Tim Go, who has spearheaded turnaround efforts at the Indianapolis-based oil refiner and maker of specialty petroleum products, will leave his post at the end of May.
Allison Transmission’s 4Q performance beats analyst expectations
Indianapolis-based Allison Transmission Holdings Inc. on Wednesday reported lower fourth quarter revenue and earnings than a year ago, but the results beat Wall Street predictions.
Kite Realty beats analyst expectations with 4Q performance
The Indianapolis-based real estate investment trust beat Wall Street predictions in two key financial categories in the fourth quarter.
Cummins sees 4Q sales drop, expects bigger revenue decrease this year
The Columbus-based engine-maker said it expects sales to drop another 8% to 12% in 2020, it expects its full-year 2020 revenue to decline between 8% and 12%, mostly because of lower truck production in North America, Europe, China and India
Calumet fined $250,000 for financial reporting inaccuracies
The fine settles U.S. Securities and Exchange Commission charges that the Indianapolis-based fuel-products refiner issued inaccurate information about its 2017 financial performance.
Kite Realty Group sells off 14 properties for $415 million
The divestitures are part of what the company calls Project Focus, a previously-announced project to sell off non-core assets and pay down debt.
Kraft Heinz hit with federal probe, huge quarterly loss as consumers flee brands
The food manufacturer says it will slash the value of its Oscar Mayer and Kraft brands by $15.4 billion, an acknowledgment that changing consumer tastes have destroyed the value of some of the company’s most iconic products.
Kite Realty to unload up to $500M in properties
The Indianapolis-based retail real estate firm hopes to pay down debt, improve the quality of its assets and focus on preferred markets. Its shares fell on Wednesday after it revealed the plan and underwhelming quarterly results.
FedEx to offer buyouts to U.S. employees as part of cost-cutting plans
The Memphis, Tennessee-based company did not say how many positions it wants to eliminate or from what locations. But its Indianapolis International Airport hub is part of the Express division that will be targeted for the buyouts.
Insurance stalwart might be on sale block
Trucking insurer Protective Insurance Corp., long known as Baldwin & Lyons, has skidded into red ink and now is pursuing “potential strategic partnerships or transactions.“
Calumet Specialty’s new CEO giving it second lease on life
Calumet shares now trade around $6.65, nearly double their October 2016 low but way down from October 2015, when they fetched around $27.
Acquirer of Angie’s List gets big lift from deal
Nearly 10 months after Angie’s List merged with Home Advisor, the financial fortunes of the combined entity are taking off faster than analysts and company officials expected.
Circle Centre profit gets lift from eateries, IPS tax cut
The mall posted higher profit and improved sales per square foot in 2017, though retail observers say it remains at a crossroads following the closure of its last department store, Carson’s.
Angie’s List parent has strong quarter, says company will grow in Indy
ANGI Homeservices Inc. CEO Chris Terrill told IBJ he is feeling “bullish” about the company’s overall prospects and its future in Indianapolis.
Retail goliath Simon nails quarterly expectations, increases dividend
The Indianapolis-based mall owner broke a record in 2017 in a metric for operational performance, but its CEO admitted to analysts on Wednesday that it needs to boost occupancy at its properties.
Carson’s parent ponders bankruptcy as part of restructuring
The comeback strategy for Bon-Ton Stores includes closing a dozen Carson’s stores, although Bon-Ton hasn’t specified locations. The only Carson’s in Indianapolis is the lone anchor for Circle Centre mall.
Stock skids at Lids’ parent firm after company whacks outlook
Zionsville-based Lids Sports Group posted disappointing sales in its second quarter, mirroring recent results from other athletic apparel retailers. Its parent company is trying to dampen expectations for the overall firm.