Business

US March non-farm payrolls +303K vs +200K expected – ForexLive

Published

7 months ago

April 5, 2024

Prior +275K (revised to +270K)
Two-month net revision +22K vs -167K prior
Unemployment rate 3.8% vs 3.9% expected
Prior unemployment rate 3.9%
Participation rate 62.7% vs 62.5% prior
U6 underemployment rate 7.3% vs 7.3% prior
Average hourly earnings +0.3% m/m vs +0.3% expected (unrounded +0.347%)
Prior avg hourly earnings +0.1% m/m (revised to +0.2%)
Average hourly earnings +4.1% y/y vs +4.1% expected
Average weekly hours 34.4 vs 34.3 expected
Change in private payrolls 232K vs +160K expected
Change in manufacturing payrolls 0K vs +5K expected
Household survey +498K vs +63K prior

The wage numbers are hotter than they look. The prior was revised higher and the rounded number was very close to +0.4%. Moreover, the numbers all would have been higher if not for the uptick in weekly hours.

US nonfarm payrolls

On the downside, government jobs rose a whopping 71K and the prior was revised to +63K from +52K. The leisure and hospitality sector was another big driver, which aren’t exactly high-paying jobs.

On net though, you have to take this one at face value and Treasury yields are rising 4-5 bps on this across the curve. The US dollar is up 20-30 pips as well.

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Business

Restaurant Brands reports US$357M Q3 net income, down from US$364M a year ago

Published

5 hours ago

November 5, 2024

Anne Joseph

TORONTO – Restaurant Brands International Inc. reported net income of US$357 million for its third quarter, down from US$364 million in the same quarter last year.

The company, which keeps its books in U.S. dollars, says its profit amounted to 79 cents US per diluted share for the quarter ended Sept. 30 compared with 79 cents US per diluted share a year earlier.

Revenue for the parent company of Tim Hortons, Burger King, Popeyes and Firehouse Subs, totalled US$2.29 billion, up from US$1.84 billion in the same quarter last year.

Consolidated comparable sales were up 0.3 per cent.

On an adjusted basis, Restaurant Brands says it earned 93 cents US per diluted share in its latest quarter, up from an adjusted profit of 90 cents US per diluted share a year earlier.

The average analyst estimate had been for a profit of 95 cents US per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 5, 2024.

Companies in this story: (TSX:QSR)

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Business

Electric and gas utility Fortis reports $420M Q3 profit, up from $394M a year ago

Published

5 hours ago

November 5, 2024

Anne Joseph

ST. JOHN’S, N.L. – Fortis Inc. reported a third-quarter profit of $420 million, up from $394 million in the same quarter last year.

The electric and gas utility says the profit amounted to 85 cents per share for the quarter ended Sept. 30, up from 81 cents per share a year earlier.

Fortis says the increase was driven by rate base growth across its utilities, and strong earnings in Arizona largely reflecting new customer rates at Tucson Electric Power.

Revenue in the quarter totalled $2.77 billion, up from $2.72 billion in the same quarter last year.

On an adjusted basis, Fortis says it earned 85 cents per share in its latest quarter, up from an adjusted profit of 84 cents per share in the third quarter of 2023.

The average analyst estimate had been for a profit of 82 cents per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 5, 2024.

Companies in this story: (TSX:FTS)

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Business

Thomson Reuters reports Q3 profit down from year ago as revenue rises

Published

5 hours ago

November 5, 2024

Anne Joseph

TORONTO – Thomson Reuters reported its third-quarter profit fell compared with a year ago as its revenue rose eight per cent.

The company, which keeps its books in U.S. dollars, says it earned US$301 million or 67 cents US per diluted share for the quarter ended Sept. 30. The result compared with a profit of US$367 million or 80 cents US per diluted share in the same quarter a year earlier.

Revenue for the quarter totalled US$1.72 billion, up from US$1.59 billion a year earlier.

In its outlook, Thomson Reuters says it now expects organic revenue growth of 7.0 per cent for its full year, up from earlier expectations for growth of 6.5 per cent.

On an adjusted basis, Thomson Reuters says it earned 80 cents US per share in its latest quarter, down from an adjusted profit of 82 cents US per share in the same quarter last year.

The average analyst estimate had been for a profit of 76 cents US per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 5, 2024.

Companies in this story: (TSX:TRI)

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