Trump says US should do away with quarterly earnings reports
The Securities and Exchange Commission has required publicly traded companies to report on a quarterly basis since 1970.
Financial Results
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Cummins withdraws 2025 financial guidance over tariff uncertainty
Cummins Inc. has become the latest in a string of companies to withdraw its 2025 guidance.
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UPDATE: Lilly reports robust Q4, full-year earnings
Lilly’s fourth-quarter earnings, released before the market opened Thursday, surpassed analysts’ expectations by millions.
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Cummins announces voluntary staff reductions
Cummins, which reported revenue of $8.4 billion during the third quarter, has 73,600 employees worldwide, including 10,500 in Indiana.
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Cummins reports record 1Q revenue, raises full-year guidance
Cummins is forecasting revenue to be up 15% to 20% year-over-year, compared with its previous guidance of between 12% to 17%.
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Articles
UPDATE: Elanco shares jump 16% as company raises full-year guidance
The company, which makes vaccines, antibiotics and other animal-health products, said it now expects full-year revenue of between $4.57 billion and $4.62 billion.
Allison Transmission reduces full-year sales, profitability expectations
Indianapolis-based Allison Transmission Holdings Inc. outperformed analysts’ expectations in the second quarter, but the manufacturer also says its full-year revenue and profits will likely be lower than it had previously expected.
Major companies face difficult task in estimating impact of tariffs on financial results
Executives at some of the world’s biggest companies are faced with the tricky task of explaining how President Donald Trump’s tariffs are impacting their business as they discuss their latest quarterly reports.
Vera Bradley to sell Pura Vida business as part of ‘strategic evolution’
Vera Bradley, which had already acquired a 75% ownership stake in the California-based jewelry brand in 2019, acquired the remaining 25% interest in 2023.
Cummins reorganizes alt-power business, reports full-year profit of $3.9B
Cummins said it reorganized its Accelera business unit because of a slowdown in demand for some of its alternative-fuel products.
Macy’s says employee hid up to $154M in expenses, delays Q3 earnings
The retailer said Monday that it identified an issue related to delivery expenses in one of its accrual accounts earlier this month.
Cummins sees quarterly revenue dip, but a big jump in profit
Cummins saw its first quarter revenue drop by 1% on a year-over-year basis. Its profit was way up due to one-time gains from the spinoff of its filtration business.
Cummins posts quarterly loss but full-year profit
Cummins posted a rare quarterly loss in the fourth quarter, which was largely due to a previously announced $2 billion environmental settlement. The settlement also reduced the manufacturer’s full-year profit for 2023.
Struggling Alpine 4 jettisons subsidiaries
Alpine 4 Holdings Inc., whose subsidiaries include Indianapolis-based RCA Commercial Electronics, says it is struggling “with unparalleled challenges.”
Carmel-based KAR to change its name to OpenLane
If the new name sounds familiar, that’s because KAR has been using it for a portion of its business after acquiring a California-based online auction company named OpenLane Inc. in 2011.
Cummins sees more revenue, less profit in latest quarter
Cummins said its profitability was affected by several expenses last quarter, the largest of which was the $56 million that the company spent on a one-time bonus to employees.
Cummins posts record quarterly revenue
The Columbus-based manufacturer says its strong second-quarter was due mostly to its North American market, where revenues grew 15%.
Supply-chain squeeze contributes to 2Q loss for Calumet Specialty
The Indianapolis-based manufacturer posted a $78.4 million loss in the second quarter.
Kite Realty upgrades outlook after strong second quarter
Indianapolis-based Kite Realty Group Trust this week upgraded its outlook for the rest of 2021 after beating industry expectations with its second-quarter financial performance.
Simon raises financial outlook amid improving business conditions
Indianapolis-based Simon Property Group Inc.—the largest owner of shopping malls in the United States—on Monday reported second quarter financial results that exceeded analyst expectations.
Simon raises financial outlook for 2021 after solid first quarter
The Indianapolis-based mall operator said it’s seeing good early results from J.C. Penney, which Simon and a group of co-investors purchased out of bankruptcy in December.
Winter storm contributes to 1Q loss for Calumet Specialty Products
Calumet said Winter Storm Uri, which brought snow and record cold across the U.S. in February, hurt production at the company’s Gulf Coast refineries during the quarter. The first-quarter losses push the company’s total losses since 2014 above $1 billion.
Allison Transmission raises sales forecast amid ongoing pandemic recovery
The Indianapolis-based manufacturer said it expects 2021 net sales to range from $2.33 billion to $2.48 billion. That’s an improvement from the guidance the company issued in February.
Owner of Carmel’s Clay Terrace acknowledges possible bankruptcy filing
Washington Prime Group, a Simon Property Group spinoff that owns several other local shopping centers, barely missed defaulting on a $23.2 million interest payment this week before securing a forbearance agreement that ends on March 31.