Latest News for China Res Gas Gr Stock (OTC:CGASY)

China Res Gas Gr

China Resources Gas Group is a leading gas utilities group in China engaged in city gas distribution, including piped natural gas distribution and natural gas filling stations. At the end of 2023, CRG's portfolio comprised 276 city gas projects in China. The firm achieved annual gas sales volume of 38.8 billion cubic meters and has connected 57.3 million residential customers, or a penetration rate of 59.3%.

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Stocks That Hit 52-Week Highs On Friday

CHINA RES GAS UNSP/ADR by China Resources Gas Group Ltd

China Resources Gas Group Ltd

Guidance

Northrop Grumman Reiterates FY2024 Outlook: Adj EPS $24.45-24.85 vs $24.65 Est; Sees Sales $40.800B-41.200B vs $41.11B Est

Reliance Steel &amp; Aluminum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RS#NYSE">RS</a>) reported quarterly earnings of $5.30 per share which missed the analyst consensus estimate of $5.55 by 4.5 percent. This is a 12.05 percent increase over earnings of $4.73 per share from the same period last year. The company reported quarterly sales of $3.645 billion which missed the analyst consensus estimate of $3.757 billion by 3.00 percent. This is a 8.08 percent decrease over sales of $3.965 billion the same period last year.

Earnings

Earnings Misses

Reliance Steel & Aluminum Q1 2024 Adj EPS $5.30 Misses $5.55 Estimate, Sales $3.645B Miss $3.757B Estimate

Baird analyst Benjamin Hartford maintains Knight-Swift (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNX#NYSE">KNX</a>) with a Outperform and lowers the price target from $64 to $60.

Price Target

Analyst Ratings

Baird Maintains Outperform on Knight-Swift, Lowers Price Target to $60

Asbury Automotive Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABG#NYSE">ABG</a>) reported quarterly sales of $4.201 billion which missed the analyst consensus estimate of $4.264 billion by 1.48 percent. This is a 17.28 percent increase over sales of $3.582 billion the same period last year.

Asbury Automotive Q1 Sales $4.201B Miss $4.264B Estimate

Bombardier (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BDRBF#OTC">BDRBF</a>) reported quarterly earnings of $0.36 per share which beat the analyst consensus estimate of $0.28 by 28.57 percent. This is a 66.04 percent decrease over earnings of $1.06 per share from the same period last year. The company reported quarterly sales of $1.281 billion which missed the analyst consensus estimate of $1.482 billion by 13.56 percent. This is a 11.84 percent decrease over sales of $1.453 billion the same period last year.

Earnings Beats

BDRBF

Bombardier Q1 2024 Adj EPS $0.36 Beats $0.28 Estimate, Sales $1.281B Miss $1.482B Estimate

Marine Prods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPX#NYSE">MPX</a>) reported quarterly earnings of $0.13 per share. This is a 61.76 percent decrease over earnings of $0.34 per share from the same period last year. The company reported $69.34 million in sales this quarter. This is a 41.69 percent decrease over sales of $118.91 million the same period last year.

Marine Prods Q1 EPS $0.13 Down From $0.34 YoY, Sales $69.34M Down From $118.91M YoY

CNX Resources Q1 Total Revenue And Other Operating Income $384.000M vs $398.068M Estimate

Awards and Backlog
First quarter 2024 net awards totaled $6.5 billion and backlog totaled $78.9 billion. Significant first quarter new awards include $3.1 billion for restricted programs (primarily at Aeronautics Systems, Space Systems, and Mission Systems). As previously disclosed, in January 2024, the company received a termination for convenience in our restricted Space business. The company reduced unfunded backlog by $1.6 billion during the first quarter of 2024 related to the termination.

Northrop Grumman Q1 Net Awards $6.5B, Backlog $78.9B

Baird analyst Michael Halloran maintains IDEX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEX#NYSE">IEX</a>) with a Outperform and lowers the price target from $260 to $256.

Baird Maintains Outperform on IDEX, Lowers Price Target to $256

General

International Paper Incurs $52M Impairment Charge In Q1 Due To January Freeze And Ixtac, Mexico Fire

Needham analyst Alex Henderson downgrades HashiCorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HCP#NASDAQ">HCP</a>) from Buy to Hold.

Downgrades

Needham Downgrades HashiCorp to Hold

TechnipFMC Reaffirmed FY24 Guidance: Subsea Revenue Of $7.2B-$7.6B And Surface Technologies Of $1.2B-$1.35B; And Free Cash Flow Of $350M- $500M

On Tuesday, Pepsi Co Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pep#NASDAQ">PEP</a>) showed it managed to navigate&nbsp;weaker U.S. demand&nbsp;that was the result of&nbsp;Quaker Oats recalls and backlash to higher prices for its drinks and snacks.&nbsp;But despite delivering better than expected earnings and revenue for its first quarter, Pepsi shares dipped about 2% upon the report as Wall Street watched at other things, such as a struggling domestic market.
First quarter highlights
For the quarter ended on March 23rd, Pepsi reported that revenue grew&nbsp;2.3% to $18.25 billion, surpassing LSEG&rsquo;s estimate of&nbsp;$18.07 billion.&nbsp;When&nbsp;acquisitions, divestitures and foreign exchange&nbsp;are put aside, organic revenue rose&nbsp;2.7%.
Pepsi earned a&nbsp;net income attributable to the company of $2.04 billion&nbsp;while adjusted earnings per share of&nbsp;$1.61&nbsp;also surpassed LSEG&rsquo;s estimate of&nbsp;$1.52.
Volume is still under pressure.
Stripping&nbsp;out pricing and currency changes to&nbsp;truly&nbsp;reflect demand,&nbsp;the beverage segment&nbsp;reported flat volume&nbsp;while food division&nbsp;saw its volume decrease 0.5%. Besides higher prices pressuring volume,&nbsp;recalls of&nbsp;Quaker Foods cereals and bars only worsened&nbsp;the problem by denting the organic volume by about 1%. The recall due to potential salmonella contamination was first issued in December, and then it got further widened in January. The production at the plant tied to recalls has already ceased but Pepsi will&nbsp;close&nbsp;it in&nbsp;June. As a result, the North American Quaker Food division&rsquo;s&nbsp;volume&nbsp;plummeted&nbsp;22%.&nbsp;
The domestic market is struggling the most.&nbsp;
North American divisions&nbsp;reported declines across unit. The&nbsp;beverage unit&nbsp;contracted&nbsp;5%, followed by&nbsp;Frito-Lay&rsquo;s 2% decline. But, the situation seems brighter outside the U.S.&nbsp;Asia-Pacific, Australia, New Zealand and China region reported&nbsp;snacks volume grew&nbsp;12%, while Europe reported&nbsp;beverage volumes&nbsp;increased 7%, followed by a 2% rise in snack volumes.&nbsp;
Pepsi reiterated its full year outlook.
For 2024, Pepsi guided for&nbsp;organic revenue&nbsp;growth of at least&nbsp;4%&nbsp;along with a rise of at least 8% of&nbsp;core constant currency earnings per share.
Pepsi continues to fight for market share, along with its rivals like The Coca Cola Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ko#NYSE">KO</a>). On Tuesday, Coca Cola unveiled it entered into&nbsp;five-year strategic partnership&nbsp;with no other than Microsoft Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>). Together, Coca Cola and Microsoft will work to accelerate cloud and generative AI development. Under the agreement, Coca Cola committed&nbsp;$1.1 billion. Coca Cola will take advantage of the&nbsp;Copilot&nbsp;that&nbsp;Microsoft 365&nbsp;developed to boost workplace productivity. More importantly, Coca Cola gained the opportunity to use AI solutions that Microsoft is heavily betting on in order to boost innovation across all of its business areas, so Pepsi should watch its back as the famous taste battle is about to expand to new fronts and across new&nbsp;dimensions.
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

MSFT

Pepsi Tops Estimates Despite A Weakened Domestic Market

Northrop Grumman (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>) reported quarterly earnings of $6.32 per share which beat the analyst consensus estimate of $5.74 by 10.1 percent. This is a 14.91 percent increase over earnings of $5.50 per share from the same period last year. The company reported quarterly sales of $10.133 billion which beat the analyst consensus estimate of $9.771 billion by 3.70 percent. This is a 8.95 percent increase over sales of $9.301 billion the same period last year.

Northrop Grumman Q1 2024 GAAP EPS $6.32 Beats $5.74 Estimate, Sales $10.133B Beat $9.771B Estimate

Sonic Automotive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAH#NYSE">SAH</a>) reported quarterly earnings of $1.36 per share which beat the analyst consensus estimate of $1.30 by 4.62 percent. This is a 2.26 percent increase over earnings of $1.33 per share from the same period last year. The company reported quarterly sales of $3.38 billion which missed the analyst consensus estimate of $3.45 billion by 1.91 percent. This is a 3.07 percent decrease over sales of $3.49 billion the same period last year.

Sonic Automotive Q1 Adj $1.36 Beats $1.30 Estimate, Sales $3.38B Miss $3.45B Estimate

The Company also is revising fiscal year 2024 Adjusted EBITDA1,2&nbsp;guidance&nbsp;to a range of&nbsp;$155 million&nbsp;to&nbsp;$190 million.

MarineMax Cuts FY24 Adjusted EPS Guidance From $3.20-$3.70 To $2.20-$3.20, Est $3.35

RPC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RES#NYSE">RES</a>) reported quarterly earnings of $0.13 per share which missed the analyst consensus estimate of $0.17 by 23.53 percent. This is a 66.67 percent decrease over earnings of $0.39 per share from the same period last year. The company reported quarterly sales of $377.83 million which missed the analyst consensus estimate of $390.92 million by 3.35 percent. This is a 20.73 percent decrease over sales of $476.67 million the same period last year.

RPC Q1 Adj $0.13 Misses $0.17 Estimate, Sales $377.83M Miss $390.92M Estimate

Baird analyst Ghansham Panjabi maintains Avery Dennison (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVY#NYSE">AVY</a>) with a Outperform and raises the price target from $215 to $230.

Baird Maintains Outperform on Avery Dennison, Raises Price Target to $230

Needham analyst James Ricchiuti maintains Impinj (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PI#NASDAQ">PI</a>) with a Buy and raises the price target from $130 to $160.

Needham Maintains Buy on Impinj, Raises Price Target to $160

TechnipFMC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FTI#NYSE">FTI</a>) reported quarterly earnings of $0.22 per share which beat the analyst consensus estimate of $0.16 by 37.5 percent. The company reported quarterly sales of $2.042 billion which beat the analyst consensus estimate of $1.984 billion by 2.92 percent. This is a 18.90 percent increase over sales of $1.717 billion the same period last year.

TechnipFMC Q1 2024 Adj EPS $0.22 Beats $0.16 Estimate, Sales $2.042B Beat $1.984B Estimate

China Resources Gas Group goes ex-dividend tomorrow

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Latest News for China Res Gas Gr Stock (OTC:CGASY)

Friday, September 13, 2019