On Thursday, Shares of Fiat Chrysler Automobiles N.V. (NYSE:FCAU), dropped -4.03% to $14.75.
Fiat Chrysler Automobiles, declared Net revenues for Q1 2015 were €26.4 billion, an enhance of €4.3 billion, or 19% (+4% CER) from €22.1 billion for first quarter 2014. Higher revenues in NAFTA (+38%; +13% CER), EMEA (+8%; +6% CER) and Components (+17%; +12% CER) were partly offset by decreases in LATAM (-21%; -24% CER) and Maserati (-19%; -29% CER).
Adjusted EBIT was €800 million, up €145 million (+22%) due to improved performance in NAFTA and continued progress in EMEA, which posted a positive result for the second successive quarter. The year-over-year results reflect a positive translation impact from the strengthening U.S. Dollar, which was offset by negative transactional impacts, primarily the strengthening of the U.S. Dollar on NAFTA vehicles and components supplied to other regions and the weakening of the Canadian Dollar on revenues from sales in Canada.
Fiat Chrysler Automobiles N.V., an automotive group, designs, engineers, manufactures, distributes, and sells vehicles and components. It offers passenger cars, light trucks, and light commercial vehicles under the Abarth, Alfa Romeo, Chrysler, Dodge, Fiat, Fiat Professional, Jeep, Lancia, and Ram brand names, in addition to after-sales services and parts under the Mopar brand name.
Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS), declined -4.01% to $28.02, during its last trading session.
JinkoSolar Holding, declared that it has supplied about 3 MW of PV modules to Embotelladora de Sula S.A. for Honduras’ largest rooftop solar system, which is also the largest solar PV rooftop project in Central America.
Located in San Pedro Sula, the about 3MW rooftop project covers an area of 34,000 M2 and sits on top of a modern production facility for bottled soft drinks, juices and purified water. The project is developed by Smartsolar, a company dedicated to the development of photovoltaic projects on roofs for commercial and industrial use in Central America. The project was successfully accomplished in March, 2015.
The project uses 11,650 pieces of JinkoSolar’s high-efficiency PV modules that will produce about 3,815,830 kWh of electricity per year and reduce emissions by nearly 1263.6 tons of CO2 annually.
JinkoSolar Holding Co., Ltd., together with its auxiliaries, engages in the design, development, production, and marketing of photovoltaic products in the Peoples Republic of China and internationally. The company operates through two segments, Manufacturing and Solar Power Projects.
At the end of Thursday’s trade, Shares of The Timken Company (NYSE:TKR), dwindled -3.98% to $39.29.
The Timken Company, stated sales of $723 million for the first quarter of 2015, down 2 percent from a year ago. This reflects growth of nearly 3 percent, driven by Process Industries, which was more than offset by unfavorable currency of almost 5 percent.
Pension settlement and other restructuring charges in the first quarter drove a net loss from ongoing operations of $135.2 million or $1.54 per share. This compares with net income from ongoing operations during the same period a year ago of $60 million or $0.64 per diluted share. As formerly revealed, earlier this year the company transferred about $575 million of retiree pension obligations to Prudential through the purchase of a group annuity contract, which resulted in a non-cash charge of $215 million pre-tax in the first quarter.
Adjusted net income from ongoing operations in the first quarter was $44.2 million or $0.50 per diluted share. This compares with $47 million or $0.50 per diluted share (reference Table) for the same period a year ago. Adjusted net income reflects the impact of negative currency and unfavorable mix, partially offset by the benefit of higher volume, lower selling, general and administrative (SG&A) expenses and a lower tax rate. Earnings per share benefited from the company’s share buyback program, counting 2.3 million shares repurchased in the first quarter.
The Timken Company engineers, manufactures, and markets bearings, transmissions, gearboxes, and chain and related products worldwide. It operates in two segments: Mobile Industries and Process Industries.
Finally, Belmond Ltd. (NYSE:BEL), ended its last trade with -3.90% loss, and closed at $12.32.
Belmond, declared its results for the first quarter ended March 31, 2015.
Total revenue in the first quarter of 2015 was $99.1 million, down $2.7 million or 3% from $101.8 million in the first quarter of 2014. Total revenue was negatively influenced by the depreciation of most of the Company’s functional currencies against the U.S. dollar, which contributed to an $8.3 million decrease in stated revenue for the first quarter of 2015. Not taking into account the impact of currency movements, total revenue in the first quarter of 2015 raised $5.6 million or 5% over the first quarter of 2014.
Total hotels revenue for the first quarter was $89.6 million, an enhance of $0.7 million or 1% over $88.9 million in the first quarter of 2014. Total hotels revenue for the first quarter of 2015 was negatively influenced by $7.9 million as a result of currency depreciation. Not taking into account the impact of currency movements, total hotels revenue in the first quarter of 2015 raised $8.6 million dollars or 10%. Total hotels revenue in the current-year quarter benefited from a $2.3 million enhance at Belmond Miraflores Park, Lima, Peru, which was closed for renovation for the first quarter of 2014, partially offset by a $1.3 million decrease in revenue for Inn at Perry Cabin by Belmond, St. Michaels, Maryland, which the Company sold in March 2014. Not taking into account currency movements, Belmond Miraflores Park and Inn at Perry Cabin, total hotels revenue for the first quarter of 2015 raised $7.6 million or 9% over the first quarter of 2014.
Same store RevPAR for owned hotels in the first quarter of 2015 raised 9% in local currency over the preceding-year quarter as a result of an 8% enhance in average daily rate (“ADR”) and a 1 percentage point enhance in occupancy. In U.S. dollars, same store RevPAR for owned hotels in the first quarter of 2015 was on par with RevPAR for the preceding-year quarter. Same store RevPAR for the first quarter of 2015 excluded Inn at Perry Cabin, Belmond Miraflores Park and Belmond Eagle Island Lodge, one of the Company’s three safari camps in Botswana, which is presently closed for renovation.
Belmond Ltd., together with its auxiliaries, engages in the hotel and travel businesses. It owns, invests in, or manages deluxe hotels and resorts, restaurant, tourist trains, cruises, and canal boat.
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