On Tuesday, Shares of Citizens Financial Group, Inc. (NYSE:CFG), lost -4.43% to $26.72.
Citizens Financial Group, reports second quarter net income of $190 million, or $0.35 per diluted common share, contrast with second quarter 2014 net income of $313 million, or $0.56 per diluted common share. The second quarter of 2014 comprised of the benefit of a $180 million after-tax gain related to the Chicago Divestiture. Second quarter 2015 net income was down $19 million from first quarter 2015 net income of $209 million, and diluted EPS was down $0.03 from $0.38 in first quarter 2015. Second quarter 2015 results were reduced by $25 million after-tax, or $0.05 per diluted common share, related to net restructuring charges and special items, as compared to $6 million after-tax, or $0.01, in first quarter 2015, and a net $0.19 benefit in the second quarter 2014, as detailed in the Discussion of Results portion of this release. Second quarter 2015 Adjusted diluted EPS of $0.40 compares with $0.39 in first quarter 2015 and $0.37 in second quarter 2014 given the impact of revenue growth initiatives, strong expense control, and continued favorable credit trends.
Return on Average Tangible Common Equity (“ROTCE”)* was 5.9% in second quarter 2015 contrast to 6.5% in first quarter 2015 and 9.6% in second quarter 2014. Adjusted ROTCE* for second quarter 2015 was 6.7% contrast to 6.7% for first quarter 2015 and 6.3% for second quarter 2014.
Citizens Financial Group, Inc. operates as the bank holding company for Citizens Bank, N.A. and Citizens Bank of Pennsylvania that provide retail and commercial banking products and services in the United States. It operates through two segments, Consumer Banking and Commercial Banking.
Shares of Southern Company (NYSE:SO), declined -0.25% to $43.21, during its last trading session.
Georgia Power declared a new, on-base 46 megawatt (MW) AC solar facility planned at the Marine Corps Logistics Base (MCLB) Albany. The project was approved Tuesday by the Georgia Public Service Commission (PSC) and will be the fifth large-scale solar project to be developed by Georgia Power in coordination with the military. The company is presently working under a memorandum of understanding with the Department of the Navy (DON) to finalize project details.
With the approval of the new MCLB Albany project, Georgia Power anticipates to have more than 160 MW of on-base solar online by the end of 2016. Other major projects in progress with the military comprise the Georgia 3×30 with the U.S. Army, three 30 MW solar projects under construction at Fort Benning, Fort Gordon and Fort Stewart, and a 30 MW solar facility with the DON at SUBASE Kings Bay near St. Marys, Georgia.
Georgia Power is the largest partner of Southern Company (NYSE: SO), one of the nation’s largest generators of electricity.
The Southern Company, together with its auxiliaries, operates as a public electric utility company. It is involved in the generation, transmission, and distribution of electricity through coal, nuclear, oil and gas, and hydro resources in the states of Alabama, Georgia, Florida, and Mississippi.
Finally, LKQ Corp. (NASDAQ:LKQ), ended its last trade with -0.16% loss, and closed at $31.21, hitting its highest level.
LKQ Corporation, will release second quarter 2015 financial results before the market opens on Thursday, July 30, 2015.
At 10:00 a.m. Eastern Time (9:00 a.m. Central Time) members of senior administration will host a conference call and Webcast to talk about the Company’s results.
LKQ Corporation, together with its auxiliaries, distributes replacement parts, components, and systems used in the repair and maintenance of vehicles in the United States, the United Kingdom, the Netherlands, Belgium, Northern France, Canada, Mexico, and Central America.
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