Same stores sales were down 15% as pandemic continues to impact driving. Boyd Group Services Inc. announced sales for the third quarter ending September 30 decreased by 10.3% to CA$508.3 million ($386.9 million) from CA$567.0 million ($431.6 million) in the same period of 2019, including same-store sales decreases of 15.0%, with Canada having a greater […]
GEICO Reports Collision Claims Severity Up 7-9% in First Nine Months of 2020
Frequency remained down 24-26% so far this year compared to 2019. On November 7, Berkshire Hathaway Inc. reported its third quarter earnings, including details about its GEICO subsidiary, the second largest auto insurer in the U.S. According to the company’s quarterly report, GEICO generated a pre-tax underwriting earnings of $276 million. The company reported significant […]
Allstate Brand Auto Insurance Net Written Premiums Up 1.1% in Third Quarter
Allstate brand policies in force up just 0.1%. Company continues to advance its transformative growth plan. The Allstate Corporation (NYSE: ALL) reported total revenues of $11.5 billion in the third quarter of 2020 increased 3.9% compared to the prior year quarter, reflecting net realized capital gains of $440 million and a 1.9% increase in Property-Liability […]
IAA Announces Third Quarter Revenue Down 5.4%
IAA, Inc. (NYSE: IAA) announced consolidated revenues decreased 5.4% to $338.0 million from $357.3 million in the third quarter of fiscal 2019 that ended September 27. Foreign currency movements had a positive impact of less than $0.1 million on revenue for the third quarter of fiscal 2020. Third quarter revenue through July 2020 includes $1.1 […]
LKQ Reports Revenue Down 3.2% in Third Quarter Compared to Last Year
LKQ Corporation (Nasdaq: LKQ) today reported third quarter 2020 revenue was $3.0 billion, down 3.2% year-over-year. The company’s overall parts and services organic revenue declined 4.5% year-over-year during the quarter. The net impact of acquisition and divestitures revenue was -1.0% and foreign exchange rates was 2.1%, for a total parts and services revenue decline of […]
P/C Insurers Report a 26% Drop in Net Income in First-Half 2020
Industry results show effects of COVID-19 according to Verisk and the APCIA. Net income for the private U.S. property/casualty insurance industry dropped 26% in the first half of 2020, as the effects of COVID-19 began to hurt insurer underwriting results and investment gains, according to Verisk (NASDAQ:VRSK), a leading data analytics provider, and the American […]
Axalta Reports Refinish Sales Down 9% in Third Quarter
Axalta Coating Systems Ltd. (NYSE:AXTA) reported third quarter net sales overall decreased 7.2% year-over-year to $1,026.9 million including a 0.1% foreign currency benefit, driven by 6.0% lower volumes and 1.4% lower average price and product mix. Performance Coatings third quarter net sales were $682.7 million, a decrease of 5.7% year-over-year. Constant currency organic net sales […]
AkzoNobel Reports Sales Down Just 5% in Third Quarter Compared to 2019 and Up 1% on Constant Currency Basis
CEO says refinish outperforming market. Akzo Nobel N.V. (AKZA; AKZOY) announced that revenue for the third quarter 2020 were €2,398 million ($2,847.4 million), down 5% from the third quarter of 2019, but up 1% on a constant currency basis. Volumes were up 3%, showing strong demand for Decorative Paints, partly offset by lower volumes of […]
PPG Reports Third Quarter Refinish Coatings Sales Down 10% Due to Pandemic Impact on Driving
PPG (NYSE:PPG) reported third quarter 2020 net sales of about $3.7 billion, down approximately 4% versus the prior year. Selling prices increased by 1.3%. Sales volumes were down about 5% versus the prior year, which reflect ongoing negative economic impacts of the COVID-19 pandemic. Acquisition-related sales added less than 1% to sales growth, and the […]
PPG Projects Strong Third Quarter Financial Results
PPG (NYSE:PPG) announced that its third quarter 2020 adjusted earnings per diluted share is expected to be between $1.90 and $1.94. This compares to adjusted earnings per diluted share of $1.67 in the third quarter of 2019. In addition, the company now anticipates that sales volumes versus the third quarter 2019 will be down about […]
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