All posts by julietterocheleau2018

Centene Corp. reports high enrollment, better-than-expected earnings

By Juliette Rocheleau
Medill Reports

Despite an 11.9 percent profit decline from the year-earlier quarter, adjusted earnings of Centene Corp. (NYSE: CNC), the St. Louis-based health insurer, beat Wall Street’s estimate and shares rose 4.3 percent.

The company reported net earnings of $230 million, or diluted earnings of $1.30 per share, helped by an income tax benefit of $55 million, for the quarter ended Dec. 31, down from $261 million, or diluted earnings per share of $1.49, for the same period in the year prior. For adjusted diluted earnings, the company reported 97 cents per share. Analysts predicted 93 cents per share, according to Yahoo Finance.

Despite the fourth quarter dip, full-year earnings grew to $828 million, or $4.69 per diluted share, from $562 million, or $3.43 per diluted share.

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Ingredion Earnings Miss Estimate, Stock Dips

By Juliette Rocheleau
Medill Reports

Shares of Ingredion Inc. (NYSE: INGR), the food and industrial ingredient supply company based in Westchester, Ill., dropped 4.3 percent after the company reported earnings below analysts’ expectations for the fourth quarter ended Dec. 31, 2017.

Profit in the quarter rose 5.1 percent to $99 million, or $1.35 per diluted share, from $94 million, or $1.26 per diluted share, in the year-earlier quarter. Revenue rose 3 percent to $1.43 billion from $1.4 billion.

Ingredion reported a one-time charge of $23 million associated with the tax reform bill passed at the end of 2017. Excluding the charge, the company reported adjusted earnings per share in the fourth quarter of $1.73 per share, up from $1.67 in the year-earlier quarter, but below analysts’ expectation of $1.70 compiled by Yahoo Finance.

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Abbott Laboratories fourth quarter performance beats predictions

By Juliette Rocheleau
Medill Reports

Shares of Abbott Laboratories (NYSE: ABT), an Illinois-based broad range healthcare company, rose 3 percent after the company reported adjusted earnings that slightly exceeded analysts’ expectations in the fourth quarter ended Dec. 31.

On a GAAP basis, Abbott reported a net loss of $828 million, or 48 cents per share, compared with the year-earlier quarter’s profit of $798 million, or 53 cents per share, largely due to a $1.46 billion charge occasioned by the U.S. tax reform passed at the end of 2017.

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Jobless claims hit 45-year low

By Juliette Rocheleau
Medill Reports

The U.S. initial jobless claims for the week ended January 13 plunged to 220,000, its lowest number in almost 45 years, the U.S. Department of Labor reported Thursday, pointing to a robust labor market.

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