Latest news with #profitforecast
Yahoo
an hour ago
- Business
- Yahoo
ICICI Bank Limited (NYSE:IBN) Beats Profit Forecasts, Says Reuters
ICICI Bank Limited (NYSE:IBN) is one of the Best Indian Stocks to Buy for Next 5 Years. Reuters highlighted that ICICI Bank Limited (NYSE:IBN) beat profit forecasts for Q1 2026, thanks to healthy loan growth that led to increased core lending income. The bank's standalone net profit went up by 15.5% to INR127.68 billion ($1.48 billion) during the April-to-June quarter, above the average analyst forecast of INR120.24 billion. A businessperson looking out a city skyline, from the top floor of a high-rise building. Despite slower credit growth throughout the industry, ICICI Bank Limited (NYSE:IBN) saw 12% growth in its loan book, driven primarily due to a 29.7% growth in loans to businesses, added Reuters. ICICI Bank Limited (NYSE:IBN)'s net interest margin declined to 4.34% from 4.36% a year earlier and 4.41% in the previous quarter. This was because of the central bank's recent rate-cut actions. Its asset quality improved, with the gross non-performing assets ratio coming at 1.67% at the end of June compared to 2.15% in the same period last year. Reuters highlighted that Indian lenders continue to closely monitor unsecured lending, following an increase in bad loans in the segment. This move supported the asset quality. ICICI Bank Limited (NYSE:IBN)'s net NPA ratio came at 0.41% as of June 30, 2025, compared to 0.43% as of June 30, 2024. ICICI Bank Limited (NYSE:IBN) provides various banking and financial services to retail and corporate customers. It has its headquarters in Mumbai, India. While we acknowledge the potential of IBN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 13 Cheap AI Stocks to Buy According to Analysts and 11 Unstoppable Growth Stocks to Invest in Now Disclosure: None. This article is originally published at Insider Monkey.
Reuters
an hour ago
- Business
- Reuters
Thermo Fisher flags improving tariff situation, raises annual profit view
July 23 (Reuters) - Thermo Fisher (TMO.N), opens new tab said on Wednesday the tariff situation was improving and raised the lower end of its annual profit forecast on strong demand for its products used in drug development, sending the company's shares up 12%. As some of the trade tensions show signs of easing, peers such as Danaher (DHR.N), opens new tab have also cited a steady demand from pharmaceutical clients. "The US-China tariff situation has improved significantly versus our prior guidance assumptions," said Thermo Fisher CFO Stephen Williamson in a post earnings call. The medical equipment maker now expects the lower end of annual adjusted profit at $22.22 per share, compared to its previous estimate of $21.76. It maintained the higher end of the forecast at $22.84 per share. The change to its forecast accounts for an increase of $120 million in revenues than previously expected as well as the second-quarter beat, the company said. Thermo Fisher, however, said given the fluidity of the tariff and trade policy environment, it was keeping its assumptions for any impact in the second half unchanged. "Should global tariffs remain as they are today, we'll likely have upside for new guidance," Williamson added. The company reported quarterly profit above Wall Street expectations, helped by strong sales in its laboratory products segment of $6 billion. Analysts were expecting segment sales of $5.79 billion, as per data compiled by LSEG. On an adjusted basis, it reported a profit of $5.36 per share for the quarter ended June 28, beating analysts' estimate of $5.22 per share. Thermo Fisher also announced that CFO Williamson has decided to retire, effective March 31, 2026, and named insider Jim Meyer as his successor.
Reuters
3 hours ago
- Business
- Reuters
Thermo Fisher raises annual profit forecast on resilient demand for its tools and services
July 23 (Reuters) - Thermo Fisher (TMO.N), opens new tab on Wednesday raised the lower end of its annual profit forecast, banking on strong demand for its tools and services used in drug development and said the tariff situation was improving. Shares of the company were up 10% in early trading. As some of the trade tensions show signs of easing, peers such as Danaher (DHR.N), opens new tab have also cited a steady demand from pharmaceutical clients. "The US-China tariff situation has improved significantly versus our prior guidance assumptions," said Chief Financial Officer Stephen Williamson in a post earnings call. The medical equipment maker now expects annual adjusted profit of $22.22 to $22.84 per share, compared to its previous estimate of $21.76 and $22.84 per share. Analysts on average were expecting $22.32 per share. The company also beat quarterly profit estimates, helped by strong sales in its laboratory products segment. Danaher (DHR.N), opens new tab on Tuesday raised its annual profit forecast citing strong demand for tools and services used to make vaccines and therapies, and said it is seeing a robust number of clinical trials and therapies under development. On an adjusted basis, Thermo Fisher reported a profit of $5.36 per share for the quarter ended June 28, beating analysts' estimate of $5.22 per share, as per data compiled by LSEG. The company said its business strategy is helping adjust its supply chains in the tariff environment and to actively manage its cost base. Thermo Fisher also announced that CFO Williamson has decided to retire, effective March 31, 2026, and named Jim Meyer, currently vice president of financial operations, as Williamson's successor to the role. The Waltham Massachusetts-based company's quarterly revenue rose 3% to $10.85 billion, compared to analyst estimates of $10.68 billion. Sales at its laboratory products segment, which makes up more than half of Thermo Fisher's total sales came in at $6 billion, above estimates of $5.79 billion.
Yahoo
4 hours ago
- Business
- Yahoo
Boston Scientific lifts annual profit view on steady heart devices demand
(Reuters) -Boston Scientific raised its annual profit forecast on Wednesday, after strong demand for its heart devices helped the U.S. medical device maker beat second-quarter profit estimates. Shares of the Massachusetts-based company rose 2.3% in premarket trading following the results. A rise in surgical procedures has benefited medical device manufacturers such as Boston Scientific, as it boosted sales and helped offset broader concerns about healthcare spending pressures. Analysts said hospital utilization trends were robust during the second quarter, with hospital checks pointing to high single-digit volume growth - well above the historical average. Boston Scientific's main growth drivers, Farapulse and Watchman, which use short high-voltage pulses to treat certain abnormal heart rhythm conditions, saw strong demand during the quarter. Farapulse, approved in the U.S. to treat certain patients with intermittent atrial fibrillation, competes with Johnson & Johnson's Varipulse and Medtronic's PulseSelect in the market for pulsed field ablation (PFA) systems. "Cardiovascular end-markets remain robust," Truist analyst Richard Newitter said ahead of the earnings, adding that Boston, followed by Medtronic, are in the best position at the moment to benefit from the growing and accelerating PFA market. Rival Johnson & Johnson last week posted strong medtech sales, aided by its heart devices, Varipulse and Trupulse. Boston Scientific expects 2025 adjusted profit of $2.95 to $2.99 per share, up from the prior view of $2.87 to $2.94 earlier. It posted adjusted profit of 75 cents per share for the second quarter, topping analysts' average estimate of 72 cents, according to data compiled by LSEG. The company's cardiovascular unit reported quarterly sales of $3.34 billion, surpassing estimates of $3.20 billion. Revenue came in at $5.06 billion for the quarter, topping estimates of $4.9 billion.
Reuters
5 hours ago
- Business
- Reuters
Boston Scientific lifts annual profit view on steady heart devices demand
July 23 (Reuters) - Boston Scientific (BSX.N), opens new tab raised its annual profit forecast on Wednesday, after strong demand for its heart devices helped the U.S. medical device maker beat second-quarter profit estimates. Shares of the Massachusetts-based company rose 2.3% in premarket trading following the results. A rise in surgical procedures has benefited medical device manufacturers such as Boston Scientific, as it boosted sales and helped offset broader concerns about healthcare spending pressures. Analysts said hospital utilization trends were robust during the second quarter, with hospital checks pointing to high single-digit volume growth - well above the historical average. Boston Scientific's main growth drivers, Farapulse and Watchman, which use short high-voltage pulses to treat certain abnormal heart rhythm conditions, saw strong demand during the quarter. Farapulse, approved in the U.S. to treat certain patients with intermittent atrial fibrillation, competes with Johnson & Johnson's (JNJ.N), opens new tab Varipulse and Medtronic's (MDT.N), opens new tab PulseSelect in the market for pulsed field ablation (PFA) systems. "Cardiovascular end-markets remain robust," Truist analyst Richard Newitter said ahead of the earnings, adding that Boston, followed by Medtronic, are in the best position at the moment to benefit from the growing and accelerating PFA market. Rival Johnson & Johnson last week posted strong medtech sales, aided by its heart devices, Varipulse and Trupulse. Boston Scientific expects 2025 adjusted profit of $2.95 to $2.99 per share, up from the prior view of $2.87 to $2.94 earlier. It posted adjusted profit of 75 cents per share for the second quarter, topping analysts' average estimate of 72 cents, according to data compiled by LSEG. The company's cardiovascular unit reported quarterly sales of $3.34 billion, surpassing estimates of $3.20 billion. Revenue came in at $5.06 billion for the quarter, topping estimates of $4.9 billion.
