Rising mortgage rates approaching 7% along with declining builder sentiment stemming from stubbornly high construction costs and weakening consumer demand pushed new-home sales down at a double-digit rate in September. Following a brief uptick in August, sales of newly built, single-family homes in September fell 10.9% to a 603,000 seasonally adjusted annual rate, according to […]
CP Reports Solid Third-Quarter Results; Well-Positioned for Strong Finish to 2022
Canadian Pacific Railway Limited announced its third-quarter 2022 results, including revenues of $2.31 billion, reported operating ratio (“OR”) of 59.5 percent, adjusted OR1 of 58.7 percent, reported diluted earnings per share (“EPS”) of $0.96 and core adjusted diluted EPS1 of $1.01. “Throughout the year, we have said 2022 would be a tale of two halves and that […]
Ethan Allen Reports Strong Fiscal 2023 First Quarter Results
Ethan Allen Interiors Inc. (“Ethan Allen” or the “Company”) reported its financial and business results for its fiscal 2023 first quarter ended September 30, 2022. Farooq Kathwari, Ethan Allen’s Chairman, President and CEO commented, “We are pleased with our fiscal 2023 first quarter results. Our sales increased 17.7% to $214.5 million and our diluted earnings […]
Mortgage Applications Decrease in October 26th MBA Weekly Survey
Mortgage applications decreased 1.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s (“MBA”) Weekly Mortgage Applications Survey for the week ending October 21, 2022. The Market Composite Index, a measure of mortgage loan application volume, decreased 1.7 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index […]
U.S. Census Bureau: Monthly New Residential Sales, September 2022
Statement Regarding Natural Disasters: For information on the impact of natural disasters, including hurricanes, on the compilation of this report, please see the Natural Disaster FAQs. The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential sales statistics for September 2022: New Home Sales Sales of […]
Masco Corporation Reports Third Quarter 2022 Results
Masco Corporation (“Masco” or the “Company”), one of the world’s leading manufacturers of branded home improvement and building products, reported its third quarter results. 2022 Third Quarter Results On a reported basis, compared to third quarter 2021: Net sales of $2,204 million matched prior year; in local currency, net sales increased 3 percent North American […]
Wabash Announces Third Quarter 2022 Results
Wabash (or the “company”), the innovation leader of connected solutions for the transportation, logistics and distribution industries, today reported results for the quarter ended September 30, 2022. Record quarterly revenue of $655.2 million Operating income of $52.9 million with operating margin at 8.1% , up 430 basis points year-over-year Record earnings per share of $0.73 , exceeding prior quarterly outlook range Robust backlog […]
Fortune Brands Delivers Strong Operating Margin and Profit Results; Company Updates Guidance to Reflect Softening Market Environment; Separation Into Two World-class Companies Progressing Well Ahead of Schedule
Fortune Brands Home & Security, Inc. (the “Company”, or “Fortune Brands”), an industry-leading home and security products company, today announced third quarter 2022 results. Business and Operations Highlights: 3Q 2022 sales of $2.1 billion, an increase of 3 percent versus a year ago 3Q 2022 earnings per share (“EPS”) of $1.57, an increase of 8 […]
CN’s Third Quarter Results Reflect Strong Top-Line Growth and Renewed Focus on Scheduled Operation
CN reported its financial and operating results for the third quarter ended September 30, 2022. Diluted earnings per share (EPS) of C$2.13 increased by 40% on an adjusted basis, which represents a quarterly record. (1) Diluted EPS decreased by 10%, mainly due to a merger termination fee received in the same quarter of 2021. CN delivered strong […]
Kamps, Inc. Announces Opening of New Facility in Connecticut, Strengthening the Company’s Northeast Capabilities
Kamps, Inc., one of the nation’s leading pallet companies, is pleased to announce the opening of a new pallet facility in Bloomfield, Connecticut. The facility will begin operations immediately and will specialize in wooden pallet recycling and custom pallet manufacturing, two of the company’s core service offerings. The latest expansion comes on the heels of […]