Latest news with #operating income
Yahoo
5 days ago
- Business
- Yahoo
First look: CN Q2 earnings
CN (NYSE: CNI) reported operating income of $1.21 billion for the second quarter ended June 30, up 5% from the previous quarter, while adjusted operating income was unchanged. Revenues of $3.14 billion were off 1%, as revenue ton miles (RTMs) fell 1% in the quarter, the company said after the close of markets.. Diluted earnings per share improved 7% to $1.37, or 2% on an adjusted basis. Operating ratio, or operating expenses as a percentage of revenues, was 61.7%, an improvement of 2.3 points. Operating ratio improved 0.5 points on an adjusted basis. 'Our team's ability to be nimble and our focus on tight cost control allowed us to adjust our operations and deliver strong results despite a challenging external environment,' said President and Chief Executive Tracy Robinson, in a release. 'We are working closely with customers, including those impacted by trade issues, to provide them with the services they need to win in their markets. We remain focused on powering the North American economy and delivering for shareholders.' The Montreal-based company said persistent trade and tariff volatility led it to cut its full-year earnings forecast from January's 10-15% to the mid to high single-digit range. The company said it will still invest approximately $2.5 billion in its capital program. CN is withdrawing its 2024-2026 financial outlook 'due to the continued high level of macroeconomic uncertainty and volatility related to evolving trade and tariff policies.' Subscribe to FreightWaves' Rail e-newsletter and get the latest insights on rail freight right in your inbox. Find more articles by Stuart Chirls aims to grow carload traffic with rail service upgrades Report: Goldman Sachs advising BNSF on potential merger Analysis: UP-NS rail merger spotlights individual legacies in a legacy business Union Pacific, Norfolk Southern in merger talks: WSJ The post First look: CN Q2 earnings appeared first on FreightWaves. Melden Sie sich an, um Ihr Portfolio aufzurufen.
Yahoo
6 days ago
- Business
- Yahoo
W.R. Berkley Q2 Earnings and Revenues Surpass Estimates
W.R. Berkley Corporation's WRB second-quarter 2025 operating income of $1.05 per share beat the Zacks Consensus Estimate of $1.03 per share. The bottom line increased about 1% year over year. The insurer benefited from higher underwriting gains and improved investment income, notwithstanding above-average industry catastrophe losses during the quarter. Behind the Headlines W.R. Berkley's net premiums written were $3.4 billion, up 9.9% year over year. The figure was lower than our estimate of $3.6 revenues came in at $3.6 billion, up 7.9% year over year, on the back of higher net premiums earned as well as improved net investment income, higher insurance service fees and other income. The top line beat the consensus estimate by 1.8%. W.R. Berkley Corporation Price, Consensus and EPS Surprise W.R. Berkley Corporation price-consensus-eps-surprise-chart | W.R. Berkley Corporation Quote Net investment income grew 1.9% to $379.3 million, reflecting higher yields on expanding domestic fixed-maturity portfolio. The strength of operating cash flow continues to drive growth in net investable assets. Its current new money rates remain comfortably above average book yield, positioning WRB well for further investment income growth. Our estimate was $358.5 million. The Zacks Consensus Estimate was pegged at $358 million. Total expenses increased 11.4% to $3.1 billion due to higher losses and loss expenses. Our estimate was $3 billion. The loss ratio deteriorated 50 basis points (bps) to 63.1, while the expense ratio remained flat year over year at losses of $99.2 million in the quarter were wider than $89.7 million incurred in the year-ago quarter. The consolidated combined ratio (a measure of underwriting profitability) deteriorated 50 bps year over year to 92.1. The Zacks Consensus Estimate was 91. Segment Details Net premiums written at the Insurance segment increased 7.2% year over year to $3 billion in the quarter, primarily due to higher premiums from other liability, short-tail lines, auto, workers' compensation and professional liability. Our estimate was $3 billion. The combined ratio deteriorated 30 bps to 92.1. The Zacks Consensus Estimate was 93. Our estimate was premiums written in the Reinsurance & Monoline Excess segment increased 6.8% year over year to $337.7 million due to higher premiums at Casualty, Property and Monoline excess. The figure was lower than our estimate of $367.1 million. The combined ratio deteriorated 630 bps to 87. The Zacks Consensus Estimate was 81. Our estimate was 78.9. Financial Update W.R. Berkley exited the second quarter of 2025 with total assets worth $42.7 billion, up 5.5% from year-end 2024. Senior notes and other debt remained flat from 2024 end levels at $1.8 value per share increased 6.8% from 2024 end level to $24.50 as of June 30, flow from operations was $1.5 billion in the first half of 2025, down 11.1% year over return on equity contracted 200 bps to 20%.WRB returned $223.8 million to shareholders, consisting of $189.7 million of special dividends and $34.1 million of ordinary dividends. WRB's Zacks Rank WRB currently has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Performance of Other Insurers The Travelers Companies TRV reported second-quarter 2025 core income of $6.51 per share, which beat the Zacks Consensus Estimate by 83.8%. Total revenues increased 6.7% from the year-ago quarter to $12.1 billion, primarily driven by higher premiums, improved net investment income, higher fee income and other revenues. The top-line figure, however, missed the Zacks Consensus Estimate by 0.7%.Net written premiums increased 4% year over year to a record $11.5 billion, driven by strong growth across all three segments. The figure was higher than our estimate of $10.9 billion. Travelers witnessed an underwriting profit of $1 billion against a loss of $65 million incurred in the year-ago quarter. The consolidated underlying combined ratio of 84.7 improved 300 bps year over year. The combined ratio improved 990 bps year over year to 90.3 due to lower catastrophe losses, an improvement in the underlying combined ratio and higher net favorable prior year reserve development. The Zacks Consensus Estimate was pegged at Progressive Corporation's PGR second-quarter 2025 earnings per share of $4.88 beat the Zacks Consensus Estimate by 10.1%. The bottom line increased 84.1% year over year. Net premiums written were $20 billion in the quarter, up 12% from $17.9 billion a year ago. Net premiums earned grew 18% to $20.3 billion. The reported figure surpassed the Zacks Consensus Estimate of $20.1 billion. Operating revenues increased 19.5% year over year to $42.2 billion, driven by 19% higher net premiums earned, a 29.3% increase in net investment income, an 18.9% rise in fees and 28% higher service Corp. RLI reported second-quarter 2025 operating earnings of 84 cents share, beating the Zacks Consensus Estimate by 12%. The bottom line, however, decreased 2.3% from the prior-year quarter. Operating revenues for the reported quarter were $441 million, up 6.9% year over year, driven by 6% higher net premiums earned and 16% higher net investment income. The top line, however, missed the Zacks Consensus Estimate by 0.5%.Underwriting income of $62.2 million decreased 11.14% year over year. The combined ratio deteriorated 300 bps year over year to 84.5. The Zacks Consensus Estimate for the metric was pegged at 88, while our estimate was 42.9. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report RLI Corp. (RLI) : Free Stock Analysis Report The Travelers Companies, Inc. (TRV) : Free Stock Analysis Report W.R. Berkley Corporation (WRB) : Free Stock Analysis Report The Progressive Corporation (PGR) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Al Bawaba
7 days ago
- Business
- Al Bawaba
Ajman Bank Reports AED 266 Million in H1 2025 Profit Before Tax, Marking 14% Growth Driven by Core Performance and Operational Efficiency
His Highness Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of the Board of Ajman Bank, chaired the Bank's Board of Directors meeting on Tuesday to review key financial and administrative matters, and issue resolutions on commercial Bank announced a profit before tax of AED 266 million for the first half of 2025, a 14% increase compared to the same period in 2024, driven by sustained focus on core business performance, increased financing activity, and improved operational Bank delivered a Total Operating Income of AED 751 million, while net operating income reached AED 399 million. The Bank's total assets increased by 17% compared to year-end 2024 to AED 26.6 billion, supported by a 16% growth in the financing portfolio to AED 17.8 billion. Customer deposits reached AED 20 billion, up 11% year-to-date, reflecting continued growth across Consumer and Wholesale business segments. The Bank's total shareholders' equity rose to AED 3.2 billion, up 4% Highness Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of Ajman Bank, said: 'Ajman Bank continues to deliver consistent results, underpinned by a resilient business model and a focused growth strategy. Our performance in the first half of 2025 reflects disciplined execution and the Bank's growing role in supporting economic development and financial sector sustainability in the UAE'.Ajman Bank's capital and liquidity metrics remained strong, with a Capital Adequacy Ratio (CAR) of 17.3% and a Tier 1 Capital Ratio held firm at 16.1%, notwithstanding 17% growth in total financing portfolio. Return on Equity (ROE) improved to 15.6% (up by 29 bps), while Return on Assets (ROA) increased to 1.9% (up by 9 bps). Ajman Bank's further strengthened strong liquidity position achieved an improved Eligible Liquid Assets Ratio (ELAR) at 18% and Loans-to-Stable Resources Ratio (LSRR) at 74%.Mustafa Al Khalfawi, Chief Executive Officer of Ajman Bank, said:" Our first-half results demonstrate the strength of Ajman Bank's funding base, balance sheet, and operational model. We are focused on scaling platform productivity, improving cost-to-income performance, and diversifying access to capital. The successful launch of our co-branded POS solution, real-time settlement platform, and global Sukuk issuance all reflect growing confidence in our trajectory."On the back of proactive credit portfolio management, Asset quality continued to improve with the Non-Performing Loans (NPL) Ratio at 8.6% (down by 126 bps), 15% reduction in the aggregate of Gross Stage 2 & 3 exposure during H1 2025 and greater diversification achieved with the Real Estate Ratio reduced to 32.9% (down by 705 bps).The Bank continued to advance its digital infrastructure with targeted investment in SME onboarding platforms, merchant POS enablement, and real-time processing capabilities. These improvements are enhancing productivity, accelerating digital origination, and supporting end-to-end service automation across core May 2025, Ajman Bank successfully issued its debut USD 500 million 5-year Sukuk. The five-year issuance, listed on Nasdaq Dubai, achieved a 5.4X oversubscription, which also evidences the great trust of 100+ regional and international investors with participation of 65% and 35% allocation respectively. The Sukuk marks a strategic milestone in the Bank's funding diversification and access to international capital markets. Ajman Bank remains committed to its AED 4 billion 'Sustainable Finance' pledge by 2030 and 'Net Zero Emission' by 2050, aligning its long-term strategy with Ajman Vision 2030 and the UAE's broader sustainable growth framework.
