Month: July 2020

Second Quarter 2020 HighlightsNet sales of $418.7 million, down 18.5%, reflecting the impact of COVID-19Diluted EPS of $(0.11), down $1.25 compared with $1.14 a year ago, including a $0.47 charge related to changes in our Refining Technologies manufacturing operations and global footprint to drive capital and operating efficienciesAdjusted EPS of $0.49, down $0.67Strong year-to-date operating cash flow up 27.4% and Adjusted Free Cash Flow up 61.1%Raising full year cash flow benefit of proactive actions from $100 million to $125 million(See Analysis of Operations and Notes for information on Non-GAAP financial measures; all results based on year-over-year comparison unless otherwise noted.)COLUMBIA, Md., July 30, 2020 (GLOBE NEWSWIRE) — W. R. Grace & Co. (NYSE: GRA) today announced financial results for the second quarter of...

EDINBURG, Va., July 30, 2020 (GLOBE NEWSWIRE) — Shenandoah Telecommunications Company (“Shentel”) (Nasdaq: SHEN) announced second quarter 2020 financial and operating results.Second Quarter 2020 HighlightsRecord quarter for Broadband data net additions of 6,000Wireless prepaid gross and net additions grew 15.8% and 469.2%, respectively, over prior year periodSprint travel dispute favorably resolved with fee reset to $18.0 million per year for 2019 to 2021Operating cash flow was $67.8 million consistent with prior year periodNormalized free cash flow grew 38.5% to $46.1 million compared to the second quarter 2019, driven primarily by our Wireless segment“We continue to manage through the changes created by COVID-19 and the Sprint/T-Mobile merger.  Our broadband business had strong operating results driven by demand from stay-at-home...

Sustaining connectivity to our communitiesLuxembourg, July 30, 2020 – Millicom is pleased to announce its second-quarter 2020 results. Please find below links to the Q2 2020 Earnings Release, and to the H1 2020 Management Report and IAS 34 Interim Consolidated Financial Statements.Millicom Chief Executive Officer Mauricio Ramos commented:“The second quarter of 2020 was one of the most challenging in Millicom’s 30-year history, but we have responded quickly and decisively to the pandemic. Our primary goal has been to protect our employees and customers and to keep our communities connected during this time of need. The measures we have taken are paying off, as we have maintained or increased market share, preserved cash flow, and have continued to make progress on strategically important initiatives.The lockdowns had a major impact...

Total revenue1 increased 3% to $2.1 billion with constant currency growth of 5% and flat organic revenueCash flows from operating activities were $685 million, up 126% compared to $303 million in the prior yearFree cash flow was $550 million, up 201% compared to $183 million in the prior yearDiluted Earnings per Share were $0.72 for the quarter, down 32% over prior yearAdjusted Diluted Earnings per Share were $1.80 for the quarter, up 1.0% over prior yearIncome from Operations was $163 million or 7.7% of revenue, down 90 basis points over the prior year quarterAdjusted Operating Income was $296 million or 14.0% of revenue, down 60 basis points compared to the prior year quarterARLINGTON, Va. and LONDON, July 30, 2020 (GLOBE NEWSWIRE) — Willis Towers Watson (NASDAQ: WLTW) (the “Company”), a leading global advisory, broking and solutions...

ATLANTA, July 30, 2020 (GLOBE NEWSWIRE) —Consolidated Average Daily Volume Surged to Record 20.9% Growth2Q20 Diluted EPS of $2.03, Up 4.6%; Adjusted* Diluted EPS up 8.7% to $2.13YTD Cash from Operations of $5.9B; Adjusted Free Cash Flow of $3.9BUPS (NYSE:UPS) today announced second-quarter 2020 consolidated revenue increased to $20.5 billion, a 13.4% increase from the second quarter of 2019.  Net income was $1.8 billion for the quarter; adjusted net income was $1.9 billion, 8.8% above the same period in 2019.  Operating profit was $2.2 billion, and adjusted operating profit was $2.3 billion, up 7.4% compared to last year’s second quarter.  Diluted earnings per share was $2.03 and adjusted diluted earnings per share was $2.13, up 8.7% from the same period last year.  GAAP results included a pre-tax transformation charge of $112 million,...

MOOREFIELD, W.V., July 30, 2020 (GLOBE NEWSWIRE) — Summit Financial Group, Inc. (“Company” or “Summit”) (NASDAQ: SMMF) today reported second quarter 2020 net income of $6.95 million, or $0.54 per diluted share. In comparison, earnings for first quarter 2020 were $4.51 million, or $0.35 per diluted share, and for second quarter 2019 were $8.56 million, or $0.68 per diluted share.For the six months ended June 30, 2020, Summit recorded net income of $11.5 million, or $0.88 per diluted share, compared with $15.7 million, or $1.23 per diluted share, for the comparable 2019 six-month period, representing a decrease of 26.8 percent or 28.5 percent per diluted share. H. Charles Maddy, III, President and Chief Executive Officer of Summit commented, “I am very gratified to report Summit achieved another quarter of strong core operating performance,...