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%.Read More
Supply-chain squeeze contributes to 2Q loss for Calumet Specialty
The Indianapolis-based manufacturer posted a $78.4 million loss in the second quarter.Read More
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.Read More
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.
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.
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.
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.
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.
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.
The Indianapolis-based company, which makes specialty petroleum products, last posted an annual profit in 2013. Calumet’s cumulative annual losses since then total $931.7 million.
Allison Transmission’s fourth-quarter financial performance exceeded analysts’ revenue expectations but fell short of profitability forecasts.
The benefits administrator, DirectPath LLC, offers a variety of technology-driven services for employees and employers.
Indianapolis-based Simon said it lost about 20% of its total shopping days last year at its U.S. malls because of government-mandated shutdowns related to the pandemic.
The Indiana-based manufacturer said sales in North America declined 21% last year, but its sales in China reached record levels, up 25% from the previous year.
Fishers-based First Internet saw its stock price climb to a one-year high in after-hours trading after the bank released its financial report Wednesday.
Simon Property Group, which is expected to acquire J.C. Penney out of bankruptcy with partners in an agreement approved Monday, reported third-quarter results that fell short of Wall Street expectations.
The Indianapolis-based company, which makes specialty hydrocarbon and fuels products, said it is seeing business conditions improve compared with earlier months of the pandemic.
Carmel-based CNO Financial Group Inc. saw a sharp increase in profit during the third quarter, partly because its customers deferred seeking medical care and, as a result, submitted fewer health insurance claims.
Although its financial performance hasn’t yet recovered to pre-pandemic levels, the Indianapolis-based manufacturer’s third-quarter financial results exceeded analysts’ expectations.