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ICBC Blames CA$935 million in First Nine Months on Surge in Crashes

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The Insurance Corporation of British Columbia (ICBC) yesterday reported a net loss of CA$935 million ($757.6 million) for the first nine months of our current fiscal year covering April 1 to December 31, 2017. According to ICBC, “This is obviously a sizeable and significant loss, and is further evidence of the growing financial pressures we […]

PPG Reports Sales Up Nearly 8% in Fourth Quarter of 2017

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Automotive refinish coatings organic sales improved by a mid-single-digit percentage. PPG (NYSE:PPG) reported fourth quarter 2017 net sales of approximately $3.7 billion, up nearly 8 percent versus the prior year. Sales volumes increased by 3 percent year-over-year and selling prices improved sequentially for the third consecutive quarter, adding less than 1 percent to sales growth. […]

Acquisitions Drive Uni-Select 24.3% Sales Growth in Third Quarter

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FinishMaster US sales up 2.1 percent compared to 2016. Uni-Select reported consolidated sales for the third quarter ended September 30 were $395.8 million, a 24.3 percent increase compared to the same quarter last year, driven by the sales generated from recent business acquisitions, adding sales of $84.0 million or 26.4 percent of which The Parts […]

Boyd Group Reports Sales Increased 13.5% in Q3 over Last Year

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Acquisitions drive sales increases, overcoming headwinds from hurricanes and currency conversion that negatively impact performance. Same store sales up 1.1 percent on per day basis.  The Boyd Group Income Fund (TSE:BYD.UN) today reported its financial results for the three and nine-month periods ended September 30, 2017. During the quarter, Sales increased by 13.5 percent to […]

Axalta Reports 7% Sales Increase in Third Quarter

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Refinish sales down on distributor working capital adjustments and Venezuela deconsolidation. Axalta Coating Systems Ltd. (NYSE:AXTA) announced net sales of $1.091 billion for the third quarter of 2017 that ended September 30, an increase of 7.0 percent, including 1.9 percent in favorable foreign currency translation contribution. Constant currency net sales increased 5.1 percent in the […]

Property/Casualty Insurance Industry’s Net Income Drops to $15.5 Billion in First-Half 2017

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Decline of over 29 percent in net income compared to 2016 The private U.S. property/casualty insurance industry saw its net income after taxes drop to $15.5 billion in first-half 2017 from $21.8 billion in first-half 2016—a 29.2 percent decline—and its overall profitability as measured by its annualized rate of return on average policyholders’ surplus fall […]

Copart Reports 13.8 percent Revenue Increase in Fiscal Fourth Quarter

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Copart, Inc. (NASDAQ:CPRT) reported financial results for the quarter and year ended July 31, 2017. For the three months ended July 31, 2017, revenue was $378.6 million, an increase of $45.9 million, or 13.8 percent versus the same quarter last year. Gross margin, and net income were, $167.5 million, and $70.3 million, respectively. These represent […]

Boyd Group Reports Second Quarter Sales Up 16%

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Same store sales up 3.4 percent Boyd Group Income Fund (TSE:BYD.UN) today reported its financial results for the three and six-month periods ended June 30. Sales increased by 16.0 percent to CA$384.0 million ($299.8 million) from $331.0 million ($260.7 million) in 2016, including same-store sales increases of 3.4 percent excluding the impact of foreign exchange […]

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