task_id
string | query
string | question
string | answer
string |
|---|---|---|---|
MSFT_20200429 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 |
|:-------------------------------------------------------------------------------------|:-----------|:--------------|:-----------|:-----------|:-------------|:-----------|:-----------|:-----------|
| (In millions) (Unaudited) | | | | | | | | |
| | | | | | | | | |
| | | | | | | | | |
| | | March 31,2020 | | | June 30,2019 | | | |
| | | | | | | | | |
| Assets | | | | | | | | |
| Current assets: | | | | | | | | |
| Cash and cash equivalents | | $ | 11,710 | | | $ | 11,356 | |
| Short-term investments | | | 125,916 | | | | 122,463 | |
| | | | | | | | | |
| | | | | | | | | |
| Total cash, cash equivalents, and short-term investments | | | 137,626 | | | | 133,819 | |
| Accounts receivable, net of allowance for doubtful accounts of$446and $411 | | | 22,699 | | | | 29,524 | |
| Inventories | | | 1,644 | | | | 2,063 | |
| Other current assets | | | 8,536 | | | | 10,146 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current assets | | | 170,505 | | | | 175,552 | |
| Property and equipment, net of accumulated depreciation of$41,512and $35,330 | | | 41,221 | | | | 36,477 | |
| Operating lease right-of-use assets | | | 8,448 | | | | 7,379 | |
| Equity investments | | | 2,660 | | | | 2,649 | |
| Goodwill | | | 42,064 | | | | 42,026 | |
| Intangible assets, net | | | 6,855 | | | | 7,750 | |
| Other long-term assets | | | 13,696 | | | | 14,723 | |
| | | | | | | | | |
| | | | | | | | | |
| Total assets | | $ | 285,449 | | | $ | 286,556 | |
| | | | | | | | | |
| | | | | | | | | |
| Liabilities and stockholders’ equity | | | | | | | | |
| Current liabilities: | | | | | | | | |
| Accounts payable | | $ | 9,246 | | | $ | 9,382 | |
| Current portion of long-term debt | | | 3,748 | | | | 5,516 | |
| Accrued compensation | | | 6,254 | | | | 6,830 | |
| Short-term income taxes | | | 3,296 | | | | 5,665 | |
| Short-term unearned revenue | | | 27,012 | | | | 32,676 | |
| Other current liabilities | | | 9,151 | | | | 9,351 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current liabilities | | | 58,707 | | | | 69,420 | |
| Long-term debt | | | 62,862 | | | | 66,662 | |
| Long-term income taxes | | | 28,888 | | | | 29,612 | |
| Long-term unearned revenue | | | 3,385 | | | | 4,530 | |
| Deferred income taxes | | | 185 | | | | 233 | |
| Operating lease liabilities | | | 7,248 | | | | 6,188 | |
| Other long-term liabilities | | | 9,673 | | | | 7,581 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities | | | 170,948 | | | | 184,226 | |
| | | | | | | | | |
| | | | | | | | | |
| Commitments and contingencies | | | | | | | | |
| Stockholders’ equity: | | | | | | | | |
| Common stock and paid-in capital – shares authorized24,000; outstanding7,590and7,643 | | | 79,813 | | | | 78,520 | |
| Retained earnings | | | 32,012 | | | | 24,150 | |
| Accumulated other comprehensive income (loss) | | | 2,676 | | | | (340 | ) |
| | | | | | | | | |
| | | | | | | | | |
| Total stockholders’ equity | | | 114,501 | | | | 102,330 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities and stockholders’ equity | | $ | 285,449 | | | $ | 286,556 | |
| | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 |
|:---------------------------------------------------------------------------------------------|:-----------|:----------------------------|:-----------|:-----------|:-----------|:---------------------------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| (In millions) (Unaudited) | | Three Months EndedMarch 31, | | | | Nine Months EndedMarch 31, | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | 2020 | | | 2019 | | | 2020 | | | 2019 | | | | | |
| | | | | | | | | | | | | | | | | |
| Operations | | | | | | | | | | | | | | | | |
| Net income | | $ | 10,752 | | | $ | 8,809 | | | $ | 33,079 | | | $ | 26,053 | |
| Adjustments to reconcile net income to net cash from operations: | | | | | | | | | | | | | | | | |
| Depreciation, amortization, and other | | | 3,118 | | | | 2,926 | | | | 9,292 | | | | 8,758 | |
| Stock-based compensation expense | | | 1,338 | | | | 1,172 | | | | 3,940 | | | | 3,462 | |
| Net recognized losses (gains) on investments and derivatives | | | 52 | | | | (95 | ) | | | (140 | ) | | | (470 | ) |
| Deferred income taxes | | | (206 | ) | | | (320 | ) | | | (436 | ) | | | (740 | ) |
| Changes in operating assets and liabilities: | | | | | | | | | | | | | | | | |
| Accounts receivable | | | 891 | | | | 460 | | | | 6,778 | | | | 7,258 | |
| Inventories | | | 181 | | | | 12 | | | | 419 | | | | 710 | |
| Other current assets | | | 94 | | | | (14 | ) | | | (179 | ) | | | (864 | ) |
| Other long-term assets | | | 124 | | | | (517 | ) | | | (726 | ) | | | (969 | ) |
| Accounts payable | | | 546 | | | | (197 | ) | | | (8 | ) | | | (1,032 | ) |
| Unearned revenue | | | (736 | ) | | | 20 | | | | (6,564 | ) | | | (4,543 | ) |
| Income taxes | | | 765 | | | | 276 | | | | (3,042 | ) | | | (879 | ) |
| Other current liabilities | | | 695 | | | | 649 | | | | (1,136 | ) | | | (1,017 | ) |
| Other long-term liabilities | | | (110 | ) | | | 339 | | | | 725 | | | | 350 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net cash from operations | | | 17,504 | | | | 13,520 | | | | 42,002 | | | | 36,077 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Financing | | | | | | | | | | | | | | | | |
| Repayments of debt | | | (3,000 | ) | | | 0 | | | | (5,518 | ) | | | (3,000 | ) |
| Common stock issued | | | 342 | | | | 274 | | | | 1,003 | | | | 834 | |
| Common stock repurchased | | | (7,059 | ) | | | (4,753 | ) | | | (17,177 | ) | | | (14,910 | ) |
| Common stock cash dividends paid | | | (3,876 | ) | | | (3,526 | ) | | | (11,272 | ) | | | (10,290 | ) |
| Other, net | | | (1,052 | ) | | | 404 | | | | (805 | ) | | | (835 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net cash used in financing | | | (14,645 | ) | | | (7,601 | ) | | | (33,769 | ) | | | (28,201 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Investing | | | | | | | | | | | | | | | | |
| Additions to property and equipment | | | (3,767 | ) | | | (2,565 | ) | | | (10,697 | ) | | | (9,874 | ) |
| Acquisition of companies, net of cash acquired, and purchases of intangible and other assets | | | (329 | ) | | | (269 | ) | | | (871 | ) | | | (2,107 | ) |
| Purchases of investments | | | (15,910 | ) | | | (5,846 | ) | | | (58,311 | ) | | | (42,255 | ) |
| Maturities of investments | | | 17,247 | | | | 5,893 | | | | 47,559 | | | | 14,889 | |
| Sales of investments | | | 2,810 | | | | 1,424 | | | | 14,559 | | | | 30,831 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net cash from (used in) investing | | | 51 | | | | (1,363 | ) | | | (7,761 | ) | | | (8,516 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Effect of foreign exchange rates on cash and cash equivalents | | | (64 | ) | | | 18 | | | | (118 | ) | | | (94 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net change in cash and cash equivalents | | | 2,846 | | | | 4,574 | | | | 354 | | | | (734 | ) |
| Cash and cash equivalents, beginning of period | | | 8,864 | | | | 6,638 | | | | 11,356 | | | | 11,946 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Cash and cash equivalents, end of period | | $ | 11,710 | | | $ | 11,212 | | | $ | 11,710 | | | $ | 11,212 | |
| | | | | | | | | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 |
|:----------------------------------------------------|:-----------|:----------------------------|:-----------|:-----------|:---------------------------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| (In millions, except per share amounts) (Unaudited) | | Three Months EndedMarch 31, | | | Nine Months EndedMarch 31, | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | 2020 | | | 2019 | | | | 2020 | | | | 2019 | | | |
| | | | | | | | | | | | | | | | | |
| Revenue: | | | | | | | | | | | | | | | | |
| Product | | $ | 15,871 | | | $ | 15,448 | | | $ | 49,894 | | | $ | 48,966 | |
| Service and other | | | 19,150 | | | | 15,123 | | | | 55,088 | | | | 43,160 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Total revenue | | | 35,021 | | | | 30,571 | | | | 104,982 | | | | 92,126 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Cost of revenue: | | | | | | | | | | | | | | | | |
| Product | | | 3,376 | | | | 3,441 | | | | 11,647 | | | | 12,975 | |
| Service and other | | | 7,599 | | | | 6,729 | | | | 22,092 | | | | 19,523 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Total cost of revenue | | | 10,975 | | | | 10,170 | | | | 33,739 | | | | 32,498 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Gross margin | | | 24,046 | | | | 20,401 | | | | 71,243 | | | | 59,628 | |
| Research and development | | | 4,887 | | | | 4,316 | | | | 14,055 | | | | 12,363 | |
| Sales and marketing | | | 4,911 | | | | 4,565 | | | | 14,181 | | | | 13,251 | |
| General and administrative | | | 1,273 | | | | 1,179 | | | | 3,455 | | | | 3,460 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Operating income | | | 12,975 | | | | 10,341 | | | | 39,552 | | | | 30,554 | |
| Other income (expense), net | | | (132 | ) | | | 145 | | | | 62 | | | | 538 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Income before income taxes | | | 12,843 | | | | 10,486 | | | | 39,614 | | | | 31,092 | |
| Provision for income taxes | | | 2,091 | | | | 1,677 | | | | 6,535 | | | | 5,039 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net income | | $ | 10,752 | | | $ | 8,809 | | | $ | 33,079 | | | $ | 26,053 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Earnings per share: | | | | | | | | | | | | | | | | |
| Basic | | $ | 1.41 | | | $ | 1.15 | | | $ | 4.34 | | | $ | 3.39 | |
| Diluted | | $ | 1.40 | | | $ | 1.14 | | | $ | 4.30 | | | $ | 3.36 | |
| | | | | | | | | | | | | | | | | |
| Weighted average shares outstanding: | | | | | | | | | | | | | | | | |
| Basic | | | 7,602 | | | | 7,672 | | | | 7,619 | | | | 7,679 | |
| Diluted | | | 7,675 | | | | 7,744 | | | | 7,693 | | | | 7,759 | |
| | | | | | | | | | | | | | | | | |
---
English News:
Cloud Computing Market to Hit USD 760.98 Billion by 2027; Rising Demand for Improved Virtual Access to Information Among Industries to Foster Steady Growth: Fortune Business Insights Key Companies Profiled are Adobe, Inc., HCL Technologies, SAP SE, VMware, Inc., The International Business Machines Corporation (IBM) Amazon Web Services (AWS), Hewlett-Packard Company (HPE), Salesforce.com, Rackspace, Inc., Microsoft Corporation, Oracle Corporation - PUNE, India, April 30, 2020 /PRNewswire/ -- The global cloud computing market size is projected to reach USD 760.98 billion by 2027, exhibiting a CAGR of 18.6% during the forecast period. Rising preference for omni-cloud systems will prove highly beneficial for the growth of this market, states Fortune Business Insights in its report, titled \Cloud Computing Market Size, Share & Industry Analysis, By Type (Public Cloud, Private Cloud, Hybrid Cloud), By Service (Infrastructure as a Service (IaaS), Platform as a Service (PaaS), Software as a Service (SaaS)), By Industry (Banking, Financial Services, and Insurance (BFSI), IT and Telecommunications, Government, Consumer Goods and Retail, Healthcare, Manufacturing, Others (Energy and Utilities, Education, Media and Entertainment etc.)), and Regional Forecast, 2020-2027". Continue Reading Cloud Computing Market Analysis, Insights and Forecast, 2016-2027 Omni-cloud computing is a cloud solution that allows multiple cloud services to smoothly integrate and streamline their data on a single platform. The omni-cloud system is being increasingly preferred over the multi-cloud system owing to its multiple advantages and leading the cloud computing market trends. For example, an omni-cloud tool makes possible accessing real-time information from any location. In a departmental store, for instance, whenever there is an inventory shortfall, the cloud will send notification to the authorities, who will then take the necessary action. Similarly, storage of data on a unified platform also enables efficient analysis, enhances productivity, and elevates the quality of services. These, along with a few other benefits, are widening the applicability of omni-cloud computing across a variety of industries. According to the cloud computing market research report, the value of the market stood at USD 199.01 billion in 2019. The other highlights of the report are: Detailed research into the factors driving the market growth; In-depth study of the roadblocks facing the market; Comprehensive analysis of the segments of the market; and Thorough assessment of the competitive developments and regional landscape of the market. Get Sample PDF Brochure:https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/cloud-computing-market-102697An Overview of the Impact of COVID-19 on this Market:The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.Click here to get the short-term and long-term impact of COVID-19 on this Market.Please visit:https://www.fortunebusinessinsights.com/cloud-computing-market-102697Market RestraintPotential Risk of Cyber Attacks to Negatively Influence Adoption of Cloud SystemsToday, majority of organizations and many government departments and agencies have shifted their databases onto the cloud to improve efficiency and productivity of resources as well as bring down costs. Unfortunately, this move has exposed sensitive information to hackers, who have frequently launched cyber-attacks to retrieve and misuse data. For instance, the US-based Center for Strategic & International Studies (CSIS) revealed that in April 2020 hackers from Iran attempted to breach personal files of World Health Organization (WHO) staffers while the world was reeling under the coronavirus pandemic. In February 2020, two Chinese hackers were persecuted by the US Department of Justice for performing cryptocurrency laundering activities for North Korean nationals. Such attacks are prompted by the availability of delicate data on cloud platforms and the constant threat of privacy infringement may hinder the cloud computing market growth in the upcoming years.Regional AnalysisStrong Presence of Tech Bigwigs to Augment the Market in North AmericaNorth America is home to some of the biggest technology companies such as Google, Microsoft, and IBM and this factor has enabled the region to boast a market size of USD 61.59 billion in 2019. Moreover, the regulatory and research environment in the region is extremely favorable for development and adoption of advanced cloud technologies based on Artificial Intelligence (AI) and Machine Learning (ML). As a result, North America is slated to dominate the cloud computing market share during the forecast period. Increasing penetration of the internet and rising usage of smartphones will aid Asia-Pacific register a high CAGR, while rapid deployment of 5G will favor market growth in Latin America and Middle East & Africa. Speak to Analyst:https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/cloud-computing-market-102697Competitive LandscapeAdvent of IoT to Create Numerous Innovation Opportunities for Market PlayersThe market leaders such as Oracle and SAP are directing their research and investment energies toward efficiently utilizing the opportunities generated by the Internet of Things (IoT) phenomenon. Most of the players in this market are focused of making their products and services smarter and more streamlined using IoT-based tools. Industry Developments: October 2019: SAP SE, the German software company, launched SAP HANA, the company's integrated cloud service with advanced data and analytics capabilities. The service comprises of the SAP Data Warehouse Cloud solution to enable efficient warehouse management. July 2019: Bahrain became the first country in the Middle East where Amazon Web Services (AWS), Amazon's cloud computing division, introduced its cloud solutions. The company aims at tapping the technological potential of businesses in the Middle East through the launch of its services in the region. List of Key Players Profiled in the Cloud Computing Market Report are: Adobe, Inc. HCL Technologies SAP SE VMware, Inc. The International Business Machines Corporation (IBM) Amazon Web Services (AWS) Hewlett-Packard Company (HPE) Salesforce.com Rackspace, Inc. Microsoft Corporation Oracle Corporation Quick Buy Cloud Computing Market Research Report:https://www.fortunebusinessinsights.com/checkout-page/102697Detailed Table of Content Introduction Definition, By Segment Research Approach Sources Executive Summary Market Dynamics Drivers, Restraints and Opportunities Emerging Trends Key Insights Macro and Micro Economic Indicators Consolidated SWOT Analysis of Key Players Global Cloud Computing Market Analysis, Insights and Forecast, 2016-2027 Key Findings / Summary Market Sizing Estimations and Forecasts By Type Public Cloud Private Cloud Hybrid Cloud Market Size Estimates and Forecasts By Services Infrastructure as a Service (IaaS) Platform as a Service (PaaS) Software as a Service (SaaS) Market Size Estimates and Forecasts By Industry Banking, Financial Services, and Insurance (BFSI) IT and Telecommunications Government Consumer Goods and Retail Healthcare Manufacturing Others (Energy and Utilities, Education, Media and Entertainment etc.) Market Analysis, Insights and Forecast By Region North America Europe Asia-Pacific (APAC) Middle East & Africa (MEA) Latin America (LATAM) TOC Continued...!!!Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/cloud-computing-market-102697 Have a Look at Related Research Insights:Cloud security MarketSize, Share & Industry Analysis, By Component (Solutions, Services), By Security Type (Application Security, Database Security, Endpoint Security, Network Security, Web and Email Security), By Deployment (Private, Public, Hybrid), By End-User (Large scale enterprise , Small & medium enterprise), By Industry Verticals (Healthcare, BFSI, IT & Telecom, Government Agencies)Others and Regional Forecast, 2019-2026Software as a Service (SaaS) MarketSize, Share & Industry Analysis, By Cloud Deployment (Public, Private, Hybrid), By Application (Customer Relationship Management (CRM), Enterprise Resource Planning (ERP), Human Resource Management (HRM), Supply Chain Management (SCM), Other), By Industry Verticals (BFSI, Information Technology (IT) and Telecommunication, Manufacturing, Retail, Healthcare) Others and Regional Forecast, 2019-2026Cloud Gaming MarketSize, Share & Industry Analysis, By Device (Smartphone, Laptop/Tablets, Personal Computer (PC), Smart TV and Consoles), By Streaming Type (File Streaming and Video Streaming), By End-Users (Business to Business (B2B) and Business to Consumers (B2C)), and Regional Forecast, 2020-2027Cyber Security MarketSize, Share & Industry Analysis, By Solution (Network Security, Cloud Application Security, End-point Security, Secure Web Gateway, Internet Security), By Deployment Type (Cloud and On Premise), By Enterprise Size (Small & Medium Enterprise and Large Enterprise), By End-Use (BFSI, IT and Telecommunications, Retail, Healthcare, Government, Manufacturing) and Region Forecast, 2020-2027Internet of Things (IoT) MarketSize, Share and Industry Analysis By Platform (Device Management, Application Management, Network Management), By Software & Services (Software Solution, Services), By End-Use Industry (BFSI, Retail, Governments, Healthcare, Others) And Regional Forecast, 2019 2026Artificial Intelligence (AI) MarketSize, Share and Industry Analysis By Component (Hardware, Software, Services), By Technology (Computer Vision, Machine Learning, Natural Language Processing, Others), By Industry Vertical (BFSI, Healthcare, Manufacturing, Retail, IT & Telecom, Government, Others) and Regional Forecast, 2019-2026Blockchain Technology Market Size, Share and Industry Analysis by Product Type (Vertical Solutions, Blockchain-as-a-Service), Deployment, Industry Vertical (BFSI, Energy & Utilities, Government, Healthcare and Life Sciences, Manufacturing, Telecom, Media & Ent., Retail & Consumer Goods, Travel and Transportation), and Regional Forecast 2018-2025About Us:Fortune Business Insightsoffers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data. At Fortune Business Insights, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.Contact Us:Fortune Business Insights Pvt. Ltd.308, Supreme Headquarters,Survey No. 36, Baner,Pune-Bangalore Highway,Pune- 411045, Maharashtra,India.Phone:US: +1-424-253-0390UK: +44-2071-939123APAC: +91-744-740-1245Email:[emailprotected]Fortune Business InsightsLinkedIn|Twitter|BlogsRead Press Release:https://www.fortunebusinessinsights.com/press-release/cloud-computing-market-9843SOURCE Fortune Business Insights",
Chinese News:
4月30日，微软发布了2020年第三财季(即自然年2020年第一季度)财报。根据财报，微软第三财季营收达到350亿美元，同比去年的306亿美元增长15%；净利润108亿美元，同比增长22%；每股收益为1.4美元，同比增加23%。截至4月30日，微软股价为177.43美元每股，总市值为13495.41亿美元。按照部门划分，微软第三财季生产与业务流程营收117亿美元，同比增长15%，其中Office 365取得了25%的增长；智能云营收123亿美元，同比增长27%，其中服务器产品和云服务营收增长了30%；个人计算部门本季度营收为110亿美元，同比增长了3%，旗下Windows商业产品本季度同比增长17%，其余Surface、Xbox、搜索广告业务都获得了小幅增长.云计算业务成为该季度业绩的核心。微软CFO Amy Hood在财报中表示，“我们的销售团队和伙伴完成了扎实的第三财季，商业云服务营收为133亿美元，同比增长了39%。”同时，Azure云该季度营收增长59% 。在随后的财报电话会议中，微软CEO Satya Nadella表示，由于远程办公需求激增，市场对微软Teams、远程桌面和安全产品的需求增加，微软正在扩大远程办公类产品的规模以满足他们的需求。后期进入经济复苏阶段，会产生混合办公模式，该阶段微软的架构产品优势将显现。另一方面，微软云近期拿下多张大单。4月初，微软确认此前来自美国国防部的100亿美元云计算合约，并未出现非法问题。随后在4月28日，微软宣布与可口可乐达成一项五年期的合同，为可口可乐提供商业软件供应。微软在财报中表示，疫情对微软第三财季的营收影响并不大。微软部分产品的用户，因为疫情急剧增加。此前在接受第一财经采访时，微软公司副总裁兼中国区首席运营官邹作基表示，微软的远程会议App用户数量以及云服务业务正在快速增长。他表示，近期微软云计算服务的使用量增加了775%。此外，远程办公软件日活用户也不断增加。截至3月18日，Teams日活用户已增至4400万，相比3月11日一周内增加了1200万日活用户。微软曾在2月下旬下调了第三财季财务预期，认为受供应链恢复影响，其更多个人计算部门将不会达到此前预期。但从4月30日的财报看，更多个人计算部门仍然实现了增长。此外，2020年第三财季微软仍发生了一些人事变化，创始人比尔·盖茨在3月14日宣布退出公司董事会，结束了在微软的45年职业生涯。
Japanese News:
"米Microsoftが4月29日 (現地時間)に発表した同社2020年度第3四半期 (2020年1月〜3月)決算は売上高、純利益ともに1〜3月期の過去最高だった。Windows事業が減速したものの、在宅勤務や在宅学習の広がりによるクラウド事業やOfficeの伸びが全体をけん引。「全体ではCOVID-19が収益に与えた影響は最小にとどまった」としている。 CEOのSatya Nadella氏は3月期について「2年分に相当するデジタル変革が2カ月で起こるのを見た」と述べた。在宅勤務需要を追い風に、コラボレーションツール「Microsoft Teams」が3月にDAU (デイリーアクティブユーザー)を3200万人 (3月11日)、4400万人(3月18日)と急増させた。その伸びが4月も続いて7500万人を突破。4月にはミーティング参加者の合計が2億人を超える日があったという。在宅勤務や在宅学習からセールス、カスタマーサービスまで、あらゆるプロダクティビティのニーズがリモートへとシフトし、それに伴うクラウド基盤やセキュリティへの要求にもMicrosoftは応えている。 3月期の売上高は350億ドルで前年同期比15%増。純利益は同22%増の108億ドル、1株利益は1.40ドルだった。市場予想の平均は、売上高337億ドル、1株利益1.26ドルだった。以下は部門別の売上高。 売上高110億ドルで前年同期比3%増だった。Windows OEM Proが同5％増にとどまり、OEM non-Proは同10％減だった。Windows 7のサポート終了に備えた買い替えが落ち着いて減速が予想された中、在宅勤務や在宅学習で需要が増加したものの、新型コロナウイルスの影響を最も早く受けた中国のサプライチェーンが供給のボトルネックになった。一方で、Windows Commercial製品とクラウドサービスはMicrosoft 365の順調な伸びで同17％増だった。 他のカテゴリーは、Surfaceデバイスの売上高が前年同期比1%増だった。ゲーミングは同1％減。Xboxコンテンツおよびサービスは、前年同期にサードパーティ・タイトルが好調だったため同2％増にとどまったが、外出自粛要請で3月期にゲームで遊ぶ人が増加した。 売上高117億4000万ドルで前年同期比15%増だった。コマーシャル向けOffice製品/クラウドサービスの売上高が同13％増。Office 365のコマーシャルシート数が20％増加し、売上高が同25％増だった。コンシューマ向けOffice製品/クラウドサービスの売上高は同15％増。3月末時点のコンシューマ向けOffice 365の契約者数は3960万人、前期から240万人の増加だ。 売上高122億8000万ドルで前年同期比27%増だった。サーバー製品およびクラウドサービスの売上高は同30％増。Azureが同59％増、サーバー製品が同6％増だった。"
Spanish News:
"Microsoft ha presentado sus beneficios del tercer trimestre de su año fiscal este miércoles, y ha superado las expectativas de los analistas al presentar 35.000 millones de dólares en ingresos y 10.800 millones en beneficio neto. La compañía asegura que la crisis del coronavirus ha tenido un ""impacto neto mínimo"" en los ingresos. El uso de la nube ha aumentado durante la crisis, según Microsoft, a la vez que hubo una ""desaceleración en licencias, sobre todo en pequeña y mediana empresa, y una reducción de la facturación publicitaria en LinkedIn"". Las acciones subieron un 1% en las operaciones posteriores a los resultados, hasta los 179 dólares por acción en el momento en el que se escribían estas líneas. Microsoft presentó este miércoles los resultados del tercer trimestre de su año fiscal, justo después de que cerrara la bolsa. Los números han superado las expectativas de Wall Street, con lo que las operaciones fuera de hora registraron subidas en las acciones de un 1% hasta los 179 dólares. Esto es lo que ha detallado la compañía: Ingresos: 35.000 millones de dólares (32.100 millones de euros). Wall Street esperaba 33.660 millones de dólares. El mismo trimestre del año pasado registró 30.600 millones de dólares en ingresos. Beneficios: 1,40 dólares por acción. Los analistas estimaban 1,26 dólares por acción. Beneficio neto: 10.800 millones de dólares (9.920 millones de euros), un crecimiento del 22%. El negocio global de Microsoft en la nube —que incluye la plataforma cloud de Azure, Office 365 y otros servicios— registró 13.300 millones de dólares (12.200 millones de euros) en ventas este trimestre, un 39% más con respecto al mismo período del año anterior. La división que Microsoft conoce como More Personal Computing, que incluye Windows, su buscador, Xbox y Surface, ha registrado ventas por 11.000 millones de dólares (10.100 millones de euros), un 3% más que el año pasado. En febrero Microsoft rebajó sus previsiones para este segmento, advirtiendo los problemas con su cadena de suministros y la incertidumbre ""relacionada con la situación sanitaria en China"". Leer más: Microsoft va camino de convertirse en una de las grandes triunfadoras en tiempos de pandemia, pero también muestra dos señales de precaución a medida que la economía se aproxima a un futuro incierto A pesar de los problemas con la cadena de suministros, Microsoft asegura que los ingresos relacionados con dispositivos Windows y Surface se han beneficiado del aumento del teletrabajo. Su división gaming, Xbox, también ha disfrutado un empujón del 2% interanual. El negocio de la nube inteligente, que incluye Azure, servidores y productos empresariales en la nube también ha registrado un incremento del 27% interanual, con 12.300 millones de dólares en ventas (11.300 millones en euros). Los ingresos de Azure crecieron un 59% con respecto al mismo trimestre del año pasado, pero la compañía no ha publicado los datos de ingresos actuales de la plataforma. Los ingresos en el área de Procesos de Productividad y Negocios, que incluye los productos Office para negocios y clientes, LinkedIn y productos de Dynamics, aumentaron un 15% hasta los 11.700 millones de dólares (10.750 millones en euros). Leer más: El confinamiento nos vuelve más tecnológicos: un 40% de las ventas de Bankia en marzo ya son digitales y un 55% de los clientes utilizan estos canales a distancia La firma asegura que la crisis del coronavirus ha tenido un ""impacto neto mínimo"" en los ingresos de la compañía. El uso de la nube ha aumentado —especialmente en los paquetes de Microsoft 365 con aplicaciones como Teams, Azure, Windows Virtual Desktop, sus soluciones de seguridad avanzadas o Power Platform. Mientras tanto, Microsoft también ha admitido una desaceleración en licencias a pequeñas y medianas empresas, y una reducción en la inversión publicitaria en LinkedIn. El negocio de la compañía de Seattle permanece sólido en mitad de la pandemia, pero ya hay señales de que la firma ha adoptado una estrategia de precaución a medida que crece la incertidumbre sobre la economía global. La empresa ha experimentado un aumento sin precedentes del uso de sus plataformas para teletrabajo. Este incremento ha supuesto un desafío para la capacidad de Microsoft, que ha tenido dificultades para atender toda la demanda. En la presentación de sus resultados, Microsoft aseguró que ha aplazado los datos de ingresos concretos sobre su infraestructura cloud debido a las restricciones en su cadena de suministros. Conoce cómo trabajamos en BusinessInsider."
Greek News:
"Ισχυρές επιδόσεις κατέγραψε η Microsoft στο τρίτο τρίμηνο του οικονομικού έτους, επιβεβαιώνοντας τη σταθερή δυναμική της στον τομέα των υπηρεσιών cloud. Συγκεκριμένα, οι πωλήσεις της επιχείρησης στον τομέα υπηρεσιών cloud, στην οποία περιλαμβάνονται οι υπηρεσίες Microsoft Azure, Office 365 και άλλες cloud λύσεις, ανήλθαν στα 13,3 δισεκατομμύρια δολάρια, σημειώνοντας ετήσια αύξηση της τάξεως του 39%. Στο σύνολο των δραστηριοτήτων της εταιρείας, τα έσοδα ενισχύθηκαν κατά 4,5 δισεκατομμύρια δολάρια ή 15%, εξέλιξη που αποδίδεται στην ανάπτυξη όλων των επιμέρους επιχειρηματικών μονάδων. Το τμήμα Intelligent Cloud κατέγραψε ισχυρή άνοδο, κυρίως μέσω των προϊόντων παροχής server και της παροχής υπηρεσιών cloud. Παράλληλα, τα έσοδα από τις λύσεις παραγωγικότητας και επιχειρηματικών διαδικασιών ενισχύθηκαν λόγω της αυξημένης ζήτησης για Office και LinkedIn, ενώ αυξημένα ήταν και τα έσοδα από προσωπικούς υπολογιστές, κυρίως χάρη στο λογισμικό Windows. Το μικτό περιθώριο αυξήθηκε κατά 3,6 δισεκατομμύρια δολάρια ή 18%, αντικατοπτρίζοντας τη βελτίωση του κερδοφόρου μείγματος πωλήσεων και την ισχυρότερη απόδοση επιχειρηματικών μονάδων με υψηλότερα περιθώρια. Ειδικότερα, το ποσοστό μικτού περιθωρίου του εμπορικού cloud ενισχύθηκε κατά τέσσερις ποσοστιαίες μονάδες, φθάνοντας το 67%, κυρίως λόγω των επιδόσεων του Azure. Παράλληλα με την επιχειρηματική της ανάπτυξη, η Microsoft προχώρησε και σε μία χορηγία πολιτιστικού χαρακτήρα προς το Ελληνικό Δημόσιο. Πρόκειται για την υλοποίηση εφαρμογής ψηφιακής αναπαράστασης, με τη χρήση τεχνολογιών τρισδιάστατης απεικόνισης, των μνημείων στον αρχαιολογικό χώρο και το μουσείο της Αρχαίας Ολυμπίας. Το έργο αυτό, το οποίο δεν επιβαρύνει δημοσιονομικά την Ελλάδα, θα προσφέρει τη δυνατότητα εικονικής περιήγησης με τεχνολογία 3D μέσω διαδικτυακής πλατφόρμας που επίσης θα αναπτυχθεί από την εταιρεία."
Question:
Please list the top three focuses on revenue from news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | Please list the top three focuses on revenue from news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: 1. Cloud Services (Azure, Microsoft 365) – Core growth driver, with Azure revenue up 59% YoY and commercial cloud reaching $13.3B, a 39% increase from the same period last year. 2. Office Products – Office 365 commercial revenue increased by 25%, and consumer subscriptions reached 39.6M users. 3. Personal Computing (Windows, Surface, Xbox) – 3% YoY steady growth, driven by remote work demand despite supply chain issues.
Financial Statements Evidence: In the income statement, Microsoft’s revenue increased to $35.0B in Q3 FY2020, driven by “Service and other” revenue at $19.2B (up from $15.1B). “Product” revenue was $15.9B (up from $15.4B). |
MSFT_20200429 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 |
|:-------------------------------------------------------------------------------------|:-----------|:--------------|:-----------|:-----------|:-------------|:-----------|:-----------|:-----------|
| (In millions) (Unaudited) | | | | | | | | |
| | | | | | | | | |
| | | | | | | | | |
| | | March 31,2020 | | | June 30,2019 | | | |
| | | | | | | | | |
| Assets | | | | | | | | |
| Current assets: | | | | | | | | |
| Cash and cash equivalents | | $ | 11,710 | | | $ | 11,356 | |
| Short-term investments | | | 125,916 | | | | 122,463 | |
| | | | | | | | | |
| | | | | | | | | |
| Total cash, cash equivalents, and short-term investments | | | 137,626 | | | | 133,819 | |
| Accounts receivable, net of allowance for doubtful accounts of$446and $411 | | | 22,699 | | | | 29,524 | |
| Inventories | | | 1,644 | | | | 2,063 | |
| Other current assets | | | 8,536 | | | | 10,146 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current assets | | | 170,505 | | | | 175,552 | |
| Property and equipment, net of accumulated depreciation of$41,512and $35,330 | | | 41,221 | | | | 36,477 | |
| Operating lease right-of-use assets | | | 8,448 | | | | 7,379 | |
| Equity investments | | | 2,660 | | | | 2,649 | |
| Goodwill | | | 42,064 | | | | 42,026 | |
| Intangible assets, net | | | 6,855 | | | | 7,750 | |
| Other long-term assets | | | 13,696 | | | | 14,723 | |
| | | | | | | | | |
| | | | | | | | | |
| Total assets | | $ | 285,449 | | | $ | 286,556 | |
| | | | | | | | | |
| | | | | | | | | |
| Liabilities and stockholders’ equity | | | | | | | | |
| Current liabilities: | | | | | | | | |
| Accounts payable | | $ | 9,246 | | | $ | 9,382 | |
| Current portion of long-term debt | | | 3,748 | | | | 5,516 | |
| Accrued compensation | | | 6,254 | | | | 6,830 | |
| Short-term income taxes | | | 3,296 | | | | 5,665 | |
| Short-term unearned revenue | | | 27,012 | | | | 32,676 | |
| Other current liabilities | | | 9,151 | | | | 9,351 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current liabilities | | | 58,707 | | | | 69,420 | |
| Long-term debt | | | 62,862 | | | | 66,662 | |
| Long-term income taxes | | | 28,888 | | | | 29,612 | |
| Long-term unearned revenue | | | 3,385 | | | | 4,530 | |
| Deferred income taxes | | | 185 | | | | 233 | |
| Operating lease liabilities | | | 7,248 | | | | 6,188 | |
| Other long-term liabilities | | | 9,673 | | | | 7,581 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities | | | 170,948 | | | | 184,226 | |
| | | | | | | | | |
| | | | | | | | | |
| Commitments and contingencies | | | | | | | | |
| Stockholders’ equity: | | | | | | | | |
| Common stock and paid-in capital – shares authorized24,000; outstanding7,590and7,643 | | | 79,813 | | | | 78,520 | |
| Retained earnings | | | 32,012 | | | | 24,150 | |
| Accumulated other comprehensive income (loss) | | | 2,676 | | | | (340 | ) |
| | | | | | | | | |
| | | | | | | | | |
| Total stockholders’ equity | | | 114,501 | | | | 102,330 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities and stockholders’ equity | | $ | 285,449 | | | $ | 286,556 | |
| | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 |
|:---------------------------------------------------------------------------------------------|:-----------|:----------------------------|:-----------|:-----------|:-----------|:---------------------------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| (In millions) (Unaudited) | | Three Months EndedMarch 31, | | | | Nine Months EndedMarch 31, | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | 2020 | | | 2019 | | | 2020 | | | 2019 | | | | | |
| | | | | | | | | | | | | | | | | |
| Operations | | | | | | | | | | | | | | | | |
| Net income | | $ | 10,752 | | | $ | 8,809 | | | $ | 33,079 | | | $ | 26,053 | |
| Adjustments to reconcile net income to net cash from operations: | | | | | | | | | | | | | | | | |
| Depreciation, amortization, and other | | | 3,118 | | | | 2,926 | | | | 9,292 | | | | 8,758 | |
| Stock-based compensation expense | | | 1,338 | | | | 1,172 | | | | 3,940 | | | | 3,462 | |
| Net recognized losses (gains) on investments and derivatives | | | 52 | | | | (95 | ) | | | (140 | ) | | | (470 | ) |
| Deferred income taxes | | | (206 | ) | | | (320 | ) | | | (436 | ) | | | (740 | ) |
| Changes in operating assets and liabilities: | | | | | | | | | | | | | | | | |
| Accounts receivable | | | 891 | | | | 460 | | | | 6,778 | | | | 7,258 | |
| Inventories | | | 181 | | | | 12 | | | | 419 | | | | 710 | |
| Other current assets | | | 94 | | | | (14 | ) | | | (179 | ) | | | (864 | ) |
| Other long-term assets | | | 124 | | | | (517 | ) | | | (726 | ) | | | (969 | ) |
| Accounts payable | | | 546 | | | | (197 | ) | | | (8 | ) | | | (1,032 | ) |
| Unearned revenue | | | (736 | ) | | | 20 | | | | (6,564 | ) | | | (4,543 | ) |
| Income taxes | | | 765 | | | | 276 | | | | (3,042 | ) | | | (879 | ) |
| Other current liabilities | | | 695 | | | | 649 | | | | (1,136 | ) | | | (1,017 | ) |
| Other long-term liabilities | | | (110 | ) | | | 339 | | | | 725 | | | | 350 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net cash from operations | | | 17,504 | | | | 13,520 | | | | 42,002 | | | | 36,077 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Financing | | | | | | | | | | | | | | | | |
| Repayments of debt | | | (3,000 | ) | | | 0 | | | | (5,518 | ) | | | (3,000 | ) |
| Common stock issued | | | 342 | | | | 274 | | | | 1,003 | | | | 834 | |
| Common stock repurchased | | | (7,059 | ) | | | (4,753 | ) | | | (17,177 | ) | | | (14,910 | ) |
| Common stock cash dividends paid | | | (3,876 | ) | | | (3,526 | ) | | | (11,272 | ) | | | (10,290 | ) |
| Other, net | | | (1,052 | ) | | | 404 | | | | (805 | ) | | | (835 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net cash used in financing | | | (14,645 | ) | | | (7,601 | ) | | | (33,769 | ) | | | (28,201 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Investing | | | | | | | | | | | | | | | | |
| Additions to property and equipment | | | (3,767 | ) | | | (2,565 | ) | | | (10,697 | ) | | | (9,874 | ) |
| Acquisition of companies, net of cash acquired, and purchases of intangible and other assets | | | (329 | ) | | | (269 | ) | | | (871 | ) | | | (2,107 | ) |
| Purchases of investments | | | (15,910 | ) | | | (5,846 | ) | | | (58,311 | ) | | | (42,255 | ) |
| Maturities of investments | | | 17,247 | | | | 5,893 | | | | 47,559 | | | | 14,889 | |
| Sales of investments | | | 2,810 | | | | 1,424 | | | | 14,559 | | | | 30,831 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net cash from (used in) investing | | | 51 | | | | (1,363 | ) | | | (7,761 | ) | | | (8,516 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Effect of foreign exchange rates on cash and cash equivalents | | | (64 | ) | | | 18 | | | | (118 | ) | | | (94 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net change in cash and cash equivalents | | | 2,846 | | | | 4,574 | | | | 354 | | | | (734 | ) |
| Cash and cash equivalents, beginning of period | | | 8,864 | | | | 6,638 | | | | 11,356 | | | | 11,946 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Cash and cash equivalents, end of period | | $ | 11,710 | | | $ | 11,212 | | | $ | 11,710 | | | $ | 11,212 | |
| | | | | | | | | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 |
|:----------------------------------------------------|:-----------|:----------------------------|:-----------|:-----------|:---------------------------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| (In millions, except per share amounts) (Unaudited) | | Three Months EndedMarch 31, | | | Nine Months EndedMarch 31, | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | 2020 | | | 2019 | | | | 2020 | | | | 2019 | | | |
| | | | | | | | | | | | | | | | | |
| Revenue: | | | | | | | | | | | | | | | | |
| Product | | $ | 15,871 | | | $ | 15,448 | | | $ | 49,894 | | | $ | 48,966 | |
| Service and other | | | 19,150 | | | | 15,123 | | | | 55,088 | | | | 43,160 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Total revenue | | | 35,021 | | | | 30,571 | | | | 104,982 | | | | 92,126 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Cost of revenue: | | | | | | | | | | | | | | | | |
| Product | | | 3,376 | | | | 3,441 | | | | 11,647 | | | | 12,975 | |
| Service and other | | | 7,599 | | | | 6,729 | | | | 22,092 | | | | 19,523 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Total cost of revenue | | | 10,975 | | | | 10,170 | | | | 33,739 | | | | 32,498 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Gross margin | | | 24,046 | | | | 20,401 | | | | 71,243 | | | | 59,628 | |
| Research and development | | | 4,887 | | | | 4,316 | | | | 14,055 | | | | 12,363 | |
| Sales and marketing | | | 4,911 | | | | 4,565 | | | | 14,181 | | | | 13,251 | |
| General and administrative | | | 1,273 | | | | 1,179 | | | | 3,455 | | | | 3,460 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Operating income | | | 12,975 | | | | 10,341 | | | | 39,552 | | | | 30,554 | |
| Other income (expense), net | | | (132 | ) | | | 145 | | | | 62 | | | | 538 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Income before income taxes | | | 12,843 | | | | 10,486 | | | | 39,614 | | | | 31,092 | |
| Provision for income taxes | | | 2,091 | | | | 1,677 | | | | 6,535 | | | | 5,039 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net income | | $ | 10,752 | | | $ | 8,809 | | | $ | 33,079 | | | $ | 26,053 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Earnings per share: | | | | | | | | | | | | | | | | |
| Basic | | $ | 1.41 | | | $ | 1.15 | | | $ | 4.34 | | | $ | 3.39 | |
| Diluted | | $ | 1.40 | | | $ | 1.14 | | | $ | 4.30 | | | $ | 3.36 | |
| | | | | | | | | | | | | | | | | |
| Weighted average shares outstanding: | | | | | | | | | | | | | | | | |
| Basic | | | 7,602 | | | | 7,672 | | | | 7,619 | | | | 7,679 | |
| Diluted | | | 7,675 | | | | 7,744 | | | | 7,693 | | | | 7,759 | |
| | | | | | | | | | | | | | | | | |
---
English News:
Cloud Computing Market to Hit USD 760.98 Billion by 2027; Rising Demand for Improved Virtual Access to Information Among Industries to Foster Steady Growth: Fortune Business Insights Key Companies Profiled are Adobe, Inc., HCL Technologies, SAP SE, VMware, Inc., The International Business Machines Corporation (IBM) Amazon Web Services (AWS), Hewlett-Packard Company (HPE), Salesforce.com, Rackspace, Inc., Microsoft Corporation, Oracle Corporation - PUNE, India, April 30, 2020 /PRNewswire/ -- The global cloud computing market size is projected to reach USD 760.98 billion by 2027, exhibiting a CAGR of 18.6% during the forecast period. Rising preference for omni-cloud systems will prove highly beneficial for the growth of this market, states Fortune Business Insights in its report, titled \Cloud Computing Market Size, Share & Industry Analysis, By Type (Public Cloud, Private Cloud, Hybrid Cloud), By Service (Infrastructure as a Service (IaaS), Platform as a Service (PaaS), Software as a Service (SaaS)), By Industry (Banking, Financial Services, and Insurance (BFSI), IT and Telecommunications, Government, Consumer Goods and Retail, Healthcare, Manufacturing, Others (Energy and Utilities, Education, Media and Entertainment etc.)), and Regional Forecast, 2020-2027". Continue Reading Cloud Computing Market Analysis, Insights and Forecast, 2016-2027 Omni-cloud computing is a cloud solution that allows multiple cloud services to smoothly integrate and streamline their data on a single platform. The omni-cloud system is being increasingly preferred over the multi-cloud system owing to its multiple advantages and leading the cloud computing market trends. For example, an omni-cloud tool makes possible accessing real-time information from any location. In a departmental store, for instance, whenever there is an inventory shortfall, the cloud will send notification to the authorities, who will then take the necessary action. Similarly, storage of data on a unified platform also enables efficient analysis, enhances productivity, and elevates the quality of services. These, along with a few other benefits, are widening the applicability of omni-cloud computing across a variety of industries. According to the cloud computing market research report, the value of the market stood at USD 199.01 billion in 2019. The other highlights of the report are: Detailed research into the factors driving the market growth; In-depth study of the roadblocks facing the market; Comprehensive analysis of the segments of the market; and Thorough assessment of the competitive developments and regional landscape of the market. Get Sample PDF Brochure:https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/cloud-computing-market-102697An Overview of the Impact of COVID-19 on this Market:The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.Click here to get the short-term and long-term impact of COVID-19 on this Market.Please visit:https://www.fortunebusinessinsights.com/cloud-computing-market-102697Market RestraintPotential Risk of Cyber Attacks to Negatively Influence Adoption of Cloud SystemsToday, majority of organizations and many government departments and agencies have shifted their databases onto the cloud to improve efficiency and productivity of resources as well as bring down costs. Unfortunately, this move has exposed sensitive information to hackers, who have frequently launched cyber-attacks to retrieve and misuse data. For instance, the US-based Center for Strategic & International Studies (CSIS) revealed that in April 2020 hackers from Iran attempted to breach personal files of World Health Organization (WHO) staffers while the world was reeling under the coronavirus pandemic. In February 2020, two Chinese hackers were persecuted by the US Department of Justice for performing cryptocurrency laundering activities for North Korean nationals. Such attacks are prompted by the availability of delicate data on cloud platforms and the constant threat of privacy infringement may hinder the cloud computing market growth in the upcoming years.Regional AnalysisStrong Presence of Tech Bigwigs to Augment the Market in North AmericaNorth America is home to some of the biggest technology companies such as Google, Microsoft, and IBM and this factor has enabled the region to boast a market size of USD 61.59 billion in 2019. Moreover, the regulatory and research environment in the region is extremely favorable for development and adoption of advanced cloud technologies based on Artificial Intelligence (AI) and Machine Learning (ML). As a result, North America is slated to dominate the cloud computing market share during the forecast period. Increasing penetration of the internet and rising usage of smartphones will aid Asia-Pacific register a high CAGR, while rapid deployment of 5G will favor market growth in Latin America and Middle East & Africa. Speak to Analyst:https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/cloud-computing-market-102697Competitive LandscapeAdvent of IoT to Create Numerous Innovation Opportunities for Market PlayersThe market leaders such as Oracle and SAP are directing their research and investment energies toward efficiently utilizing the opportunities generated by the Internet of Things (IoT) phenomenon. Most of the players in this market are focused of making their products and services smarter and more streamlined using IoT-based tools. Industry Developments: October 2019: SAP SE, the German software company, launched SAP HANA, the company's integrated cloud service with advanced data and analytics capabilities. The service comprises of the SAP Data Warehouse Cloud solution to enable efficient warehouse management. July 2019: Bahrain became the first country in the Middle East where Amazon Web Services (AWS), Amazon's cloud computing division, introduced its cloud solutions. The company aims at tapping the technological potential of businesses in the Middle East through the launch of its services in the region. List of Key Players Profiled in the Cloud Computing Market Report are: Adobe, Inc. HCL Technologies SAP SE VMware, Inc. The International Business Machines Corporation (IBM) Amazon Web Services (AWS) Hewlett-Packard Company (HPE) Salesforce.com Rackspace, Inc. Microsoft Corporation Oracle Corporation Quick Buy Cloud Computing Market Research Report:https://www.fortunebusinessinsights.com/checkout-page/102697Detailed Table of Content Introduction Definition, By Segment Research Approach Sources Executive Summary Market Dynamics Drivers, Restraints and Opportunities Emerging Trends Key Insights Macro and Micro Economic Indicators Consolidated SWOT Analysis of Key Players Global Cloud Computing Market Analysis, Insights and Forecast, 2016-2027 Key Findings / Summary Market Sizing Estimations and Forecasts By Type Public Cloud Private Cloud Hybrid Cloud Market Size Estimates and Forecasts By Services Infrastructure as a Service (IaaS) Platform as a Service (PaaS) Software as a Service (SaaS) Market Size Estimates and Forecasts By Industry Banking, Financial Services, and Insurance (BFSI) IT and Telecommunications Government Consumer Goods and Retail Healthcare Manufacturing Others (Energy and Utilities, Education, Media and Entertainment etc.) Market Analysis, Insights and Forecast By Region North America Europe Asia-Pacific (APAC) Middle East & Africa (MEA) Latin America (LATAM) TOC Continued...!!!Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/cloud-computing-market-102697 Have a Look at Related Research Insights:Cloud security MarketSize, Share & Industry Analysis, By Component (Solutions, Services), By Security Type (Application Security, Database Security, Endpoint Security, Network Security, Web and Email Security), By Deployment (Private, Public, Hybrid), By End-User (Large scale enterprise , Small & medium enterprise), By Industry Verticals (Healthcare, BFSI, IT & Telecom, Government Agencies)Others and Regional Forecast, 2019-2026Software as a Service (SaaS) MarketSize, Share & Industry Analysis, By Cloud Deployment (Public, Private, Hybrid), By Application (Customer Relationship Management (CRM), Enterprise Resource Planning (ERP), Human Resource Management (HRM), Supply Chain Management (SCM), Other), By Industry Verticals (BFSI, Information Technology (IT) and Telecommunication, Manufacturing, Retail, Healthcare) Others and Regional Forecast, 2019-2026Cloud Gaming MarketSize, Share & Industry Analysis, By Device (Smartphone, Laptop/Tablets, Personal Computer (PC), Smart TV and Consoles), By Streaming Type (File Streaming and Video Streaming), By End-Users (Business to Business (B2B) and Business to Consumers (B2C)), and Regional Forecast, 2020-2027Cyber Security MarketSize, Share & Industry Analysis, By Solution (Network Security, Cloud Application Security, End-point Security, Secure Web Gateway, Internet Security), By Deployment Type (Cloud and On Premise), By Enterprise Size (Small & Medium Enterprise and Large Enterprise), By End-Use (BFSI, IT and Telecommunications, Retail, Healthcare, Government, Manufacturing) and Region Forecast, 2020-2027Internet of Things (IoT) MarketSize, Share and Industry Analysis By Platform (Device Management, Application Management, Network Management), By Software & Services (Software Solution, Services), By End-Use Industry (BFSI, Retail, Governments, Healthcare, Others) And Regional Forecast, 2019 2026Artificial Intelligence (AI) MarketSize, Share and Industry Analysis By Component (Hardware, Software, Services), By Technology (Computer Vision, Machine Learning, Natural Language Processing, Others), By Industry Vertical (BFSI, Healthcare, Manufacturing, Retail, IT & Telecom, Government, Others) and Regional Forecast, 2019-2026Blockchain Technology Market Size, Share and Industry Analysis by Product Type (Vertical Solutions, Blockchain-as-a-Service), Deployment, Industry Vertical (BFSI, Energy & Utilities, Government, Healthcare and Life Sciences, Manufacturing, Telecom, Media & Ent., Retail & Consumer Goods, Travel and Transportation), and Regional Forecast 2018-2025About Us:Fortune Business Insightsoffers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data. At Fortune Business Insights, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.Contact Us:Fortune Business Insights Pvt. Ltd.308, Supreme Headquarters,Survey No. 36, Baner,Pune-Bangalore Highway,Pune- 411045, Maharashtra,India.Phone:US: +1-424-253-0390UK: +44-2071-939123APAC: +91-744-740-1245Email:[emailprotected]Fortune Business InsightsLinkedIn|Twitter|BlogsRead Press Release:https://www.fortunebusinessinsights.com/press-release/cloud-computing-market-9843SOURCE Fortune Business Insights",
Chinese News:
4月30日，微软发布了2020年第三财季(即自然年2020年第一季度)财报。根据财报，微软第三财季营收达到350亿美元，同比去年的306亿美元增长15%；净利润108亿美元，同比增长22%；每股收益为1.4美元，同比增加23%。截至4月30日，微软股价为177.43美元每股，总市值为13495.41亿美元。按照部门划分，微软第三财季生产与业务流程营收117亿美元，同比增长15%，其中Office 365取得了25%的增长；智能云营收123亿美元，同比增长27%，其中服务器产品和云服务营收增长了30%；个人计算部门本季度营收为110亿美元，同比增长了3%，旗下Windows商业产品本季度同比增长17%，其余Surface、Xbox、搜索广告业务都获得了小幅增长.云计算业务成为该季度业绩的核心。微软CFO Amy Hood在财报中表示，“我们的销售团队和伙伴完成了扎实的第三财季，商业云服务营收为133亿美元，同比增长了39%。”同时，Azure云该季度营收增长59% 。在随后的财报电话会议中，微软CEO Satya Nadella表示，由于远程办公需求激增，市场对微软Teams、远程桌面和安全产品的需求增加，微软正在扩大远程办公类产品的规模以满足他们的需求。后期进入经济复苏阶段，会产生混合办公模式，该阶段微软的架构产品优势将显现。另一方面，微软云近期拿下多张大单。4月初，微软确认此前来自美国国防部的100亿美元云计算合约，并未出现非法问题。随后在4月28日，微软宣布与可口可乐达成一项五年期的合同，为可口可乐提供商业软件供应。微软在财报中表示，疫情对微软第三财季的营收影响并不大。微软部分产品的用户，因为疫情急剧增加。此前在接受第一财经采访时，微软公司副总裁兼中国区首席运营官邹作基表示，微软的远程会议App用户数量以及云服务业务正在快速增长。他表示，近期微软云计算服务的使用量增加了775%。此外，远程办公软件日活用户也不断增加。截至3月18日，Teams日活用户已增至4400万，相比3月11日一周内增加了1200万日活用户。微软曾在2月下旬下调了第三财季财务预期，认为受供应链恢复影响，其更多个人计算部门将不会达到此前预期。但从4月30日的财报看，更多个人计算部门仍然实现了增长。此外，2020年第三财季微软仍发生了一些人事变化，创始人比尔·盖茨在3月14日宣布退出公司董事会，结束了在微软的45年职业生涯。
Japanese News:
"米Microsoftが4月29日 (現地時間)に発表した同社2020年度第3四半期 (2020年1月〜3月)決算は売上高、純利益ともに1〜3月期の過去最高だった。Windows事業が減速したものの、在宅勤務や在宅学習の広がりによるクラウド事業やOfficeの伸びが全体をけん引。「全体ではCOVID-19が収益に与えた影響は最小にとどまった」としている。 CEOのSatya Nadella氏は3月期について「2年分に相当するデジタル変革が2カ月で起こるのを見た」と述べた。在宅勤務需要を追い風に、コラボレーションツール「Microsoft Teams」が3月にDAU (デイリーアクティブユーザー)を3200万人 (3月11日)、4400万人(3月18日)と急増させた。その伸びが4月も続いて7500万人を突破。4月にはミーティング参加者の合計が2億人を超える日があったという。在宅勤務や在宅学習からセールス、カスタマーサービスまで、あらゆるプロダクティビティのニーズがリモートへとシフトし、それに伴うクラウド基盤やセキュリティへの要求にもMicrosoftは応えている。 3月期の売上高は350億ドルで前年同期比15%増。純利益は同22%増の108億ドル、1株利益は1.40ドルだった。市場予想の平均は、売上高337億ドル、1株利益1.26ドルだった。以下は部門別の売上高。 売上高110億ドルで前年同期比3%増だった。Windows OEM Proが同5％増にとどまり、OEM non-Proは同10％減だった。Windows 7のサポート終了に備えた買い替えが落ち着いて減速が予想された中、在宅勤務や在宅学習で需要が増加したものの、新型コロナウイルスの影響を最も早く受けた中国のサプライチェーンが供給のボトルネックになった。一方で、Windows Commercial製品とクラウドサービスはMicrosoft 365の順調な伸びで同17％増だった。 他のカテゴリーは、Surfaceデバイスの売上高が前年同期比1%増だった。ゲーミングは同1％減。Xboxコンテンツおよびサービスは、前年同期にサードパーティ・タイトルが好調だったため同2％増にとどまったが、外出自粛要請で3月期にゲームで遊ぶ人が増加した。 売上高117億4000万ドルで前年同期比15%増だった。コマーシャル向けOffice製品/クラウドサービスの売上高が同13％増。Office 365のコマーシャルシート数が20％増加し、売上高が同25％増だった。コンシューマ向けOffice製品/クラウドサービスの売上高は同15％増。3月末時点のコンシューマ向けOffice 365の契約者数は3960万人、前期から240万人の増加だ。 売上高122億8000万ドルで前年同期比27%増だった。サーバー製品およびクラウドサービスの売上高は同30％増。Azureが同59％増、サーバー製品が同6％増だった。"
Spanish News:
"Microsoft ha presentado sus beneficios del tercer trimestre de su año fiscal este miércoles, y ha superado las expectativas de los analistas al presentar 35.000 millones de dólares en ingresos y 10.800 millones en beneficio neto. La compañía asegura que la crisis del coronavirus ha tenido un ""impacto neto mínimo"" en los ingresos. El uso de la nube ha aumentado durante la crisis, según Microsoft, a la vez que hubo una ""desaceleración en licencias, sobre todo en pequeña y mediana empresa, y una reducción de la facturación publicitaria en LinkedIn"". Las acciones subieron un 1% en las operaciones posteriores a los resultados, hasta los 179 dólares por acción en el momento en el que se escribían estas líneas. Microsoft presentó este miércoles los resultados del tercer trimestre de su año fiscal, justo después de que cerrara la bolsa. Los números han superado las expectativas de Wall Street, con lo que las operaciones fuera de hora registraron subidas en las acciones de un 1% hasta los 179 dólares. Esto es lo que ha detallado la compañía: Ingresos: 35.000 millones de dólares (32.100 millones de euros). Wall Street esperaba 33.660 millones de dólares. El mismo trimestre del año pasado registró 30.600 millones de dólares en ingresos. Beneficios: 1,40 dólares por acción. Los analistas estimaban 1,26 dólares por acción. Beneficio neto: 10.800 millones de dólares (9.920 millones de euros), un crecimiento del 22%. El negocio global de Microsoft en la nube —que incluye la plataforma cloud de Azure, Office 365 y otros servicios— registró 13.300 millones de dólares (12.200 millones de euros) en ventas este trimestre, un 39% más con respecto al mismo período del año anterior. La división que Microsoft conoce como More Personal Computing, que incluye Windows, su buscador, Xbox y Surface, ha registrado ventas por 11.000 millones de dólares (10.100 millones de euros), un 3% más que el año pasado. En febrero Microsoft rebajó sus previsiones para este segmento, advirtiendo los problemas con su cadena de suministros y la incertidumbre ""relacionada con la situación sanitaria en China"". Leer más: Microsoft va camino de convertirse en una de las grandes triunfadoras en tiempos de pandemia, pero también muestra dos señales de precaución a medida que la economía se aproxima a un futuro incierto A pesar de los problemas con la cadena de suministros, Microsoft asegura que los ingresos relacionados con dispositivos Windows y Surface se han beneficiado del aumento del teletrabajo. Su división gaming, Xbox, también ha disfrutado un empujón del 2% interanual. El negocio de la nube inteligente, que incluye Azure, servidores y productos empresariales en la nube también ha registrado un incremento del 27% interanual, con 12.300 millones de dólares en ventas (11.300 millones en euros). Los ingresos de Azure crecieron un 59% con respecto al mismo trimestre del año pasado, pero la compañía no ha publicado los datos de ingresos actuales de la plataforma. Los ingresos en el área de Procesos de Productividad y Negocios, que incluye los productos Office para negocios y clientes, LinkedIn y productos de Dynamics, aumentaron un 15% hasta los 11.700 millones de dólares (10.750 millones en euros). Leer más: El confinamiento nos vuelve más tecnológicos: un 40% de las ventas de Bankia en marzo ya son digitales y un 55% de los clientes utilizan estos canales a distancia La firma asegura que la crisis del coronavirus ha tenido un ""impacto neto mínimo"" en los ingresos de la compañía. El uso de la nube ha aumentado —especialmente en los paquetes de Microsoft 365 con aplicaciones como Teams, Azure, Windows Virtual Desktop, sus soluciones de seguridad avanzadas o Power Platform. Mientras tanto, Microsoft también ha admitido una desaceleración en licencias a pequeñas y medianas empresas, y una reducción en la inversión publicitaria en LinkedIn. El negocio de la compañía de Seattle permanece sólido en mitad de la pandemia, pero ya hay señales de que la firma ha adoptado una estrategia de precaución a medida que crece la incertidumbre sobre la economía global. La empresa ha experimentado un aumento sin precedentes del uso de sus plataformas para teletrabajo. Este incremento ha supuesto un desafío para la capacidad de Microsoft, que ha tenido dificultades para atender toda la demanda. En la presentación de sus resultados, Microsoft aseguró que ha aplazado los datos de ingresos concretos sobre su infraestructura cloud debido a las restricciones en su cadena de suministros. Conoce cómo trabajamos en BusinessInsider."
Greek News:
"Ισχυρές επιδόσεις κατέγραψε η Microsoft στο τρίτο τρίμηνο του οικονομικού έτους, επιβεβαιώνοντας τη σταθερή δυναμική της στον τομέα των υπηρεσιών cloud. Συγκεκριμένα, οι πωλήσεις της επιχείρησης στον τομέα υπηρεσιών cloud, στην οποία περιλαμβάνονται οι υπηρεσίες Microsoft Azure, Office 365 και άλλες cloud λύσεις, ανήλθαν στα 13,3 δισεκατομμύρια δολάρια, σημειώνοντας ετήσια αύξηση της τάξεως του 39%. Στο σύνολο των δραστηριοτήτων της εταιρείας, τα έσοδα ενισχύθηκαν κατά 4,5 δισεκατομμύρια δολάρια ή 15%, εξέλιξη που αποδίδεται στην ανάπτυξη όλων των επιμέρους επιχειρηματικών μονάδων. Το τμήμα Intelligent Cloud κατέγραψε ισχυρή άνοδο, κυρίως μέσω των προϊόντων παροχής server και της παροχής υπηρεσιών cloud. Παράλληλα, τα έσοδα από τις λύσεις παραγωγικότητας και επιχειρηματικών διαδικασιών ενισχύθηκαν λόγω της αυξημένης ζήτησης για Office και LinkedIn, ενώ αυξημένα ήταν και τα έσοδα από προσωπικούς υπολογιστές, κυρίως χάρη στο λογισμικό Windows. Το μικτό περιθώριο αυξήθηκε κατά 3,6 δισεκατομμύρια δολάρια ή 18%, αντικατοπτρίζοντας τη βελτίωση του κερδοφόρου μείγματος πωλήσεων και την ισχυρότερη απόδοση επιχειρηματικών μονάδων με υψηλότερα περιθώρια. Ειδικότερα, το ποσοστό μικτού περιθωρίου του εμπορικού cloud ενισχύθηκε κατά τέσσερις ποσοστιαίες μονάδες, φθάνοντας το 67%, κυρίως λόγω των επιδόσεων του Azure. Παράλληλα με την επιχειρηματική της ανάπτυξη, η Microsoft προχώρησε και σε μία χορηγία πολιτιστικού χαρακτήρα προς το Ελληνικό Δημόσιο. Πρόκειται για την υλοποίηση εφαρμογής ψηφιακής αναπαράστασης, με τη χρήση τεχνολογιών τρισδιάστατης απεικόνισης, των μνημείων στον αρχαιολογικό χώρο και το μουσείο της Αρχαίας Ολυμπίας. Το έργο αυτό, το οποίο δεν επιβαρύνει δημοσιονομικά την Ελλάδα, θα προσφέρει τη δυνατότητα εικονικής περιήγησης με τεχνολογία 3D μέσω διαδικτυακής πλατφόρμας που επίσης θα αναπτυχθεί από την εταιρεία."
Question:
How is the company allocating capital (e.g., investments, share repurchases, dividends) based on its performance and market outlook from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | How is the company allocating capital (e.g., investments, share repurchases, dividends) based on its performance and market outlook from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: None.
Financial Statements Evidence: Microsoft allocated capital via $7.06B in share repurchases, $3.88B in dividends, and $3.77B in property/equipment investments in Q3 FY2020. |
MSFT_20200429 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 |
|:-------------------------------------------------------------------------------------|:-----------|:--------------|:-----------|:-----------|:-------------|:-----------|:-----------|:-----------|
| (In millions) (Unaudited) | | | | | | | | |
| | | | | | | | | |
| | | | | | | | | |
| | | March 31,2020 | | | June 30,2019 | | | |
| | | | | | | | | |
| Assets | | | | | | | | |
| Current assets: | | | | | | | | |
| Cash and cash equivalents | | $ | 11,710 | | | $ | 11,356 | |
| Short-term investments | | | 125,916 | | | | 122,463 | |
| | | | | | | | | |
| | | | | | | | | |
| Total cash, cash equivalents, and short-term investments | | | 137,626 | | | | 133,819 | |
| Accounts receivable, net of allowance for doubtful accounts of$446and $411 | | | 22,699 | | | | 29,524 | |
| Inventories | | | 1,644 | | | | 2,063 | |
| Other current assets | | | 8,536 | | | | 10,146 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current assets | | | 170,505 | | | | 175,552 | |
| Property and equipment, net of accumulated depreciation of$41,512and $35,330 | | | 41,221 | | | | 36,477 | |
| Operating lease right-of-use assets | | | 8,448 | | | | 7,379 | |
| Equity investments | | | 2,660 | | | | 2,649 | |
| Goodwill | | | 42,064 | | | | 42,026 | |
| Intangible assets, net | | | 6,855 | | | | 7,750 | |
| Other long-term assets | | | 13,696 | | | | 14,723 | |
| | | | | | | | | |
| | | | | | | | | |
| Total assets | | $ | 285,449 | | | $ | 286,556 | |
| | | | | | | | | |
| | | | | | | | | |
| Liabilities and stockholders’ equity | | | | | | | | |
| Current liabilities: | | | | | | | | |
| Accounts payable | | $ | 9,246 | | | $ | 9,382 | |
| Current portion of long-term debt | | | 3,748 | | | | 5,516 | |
| Accrued compensation | | | 6,254 | | | | 6,830 | |
| Short-term income taxes | | | 3,296 | | | | 5,665 | |
| Short-term unearned revenue | | | 27,012 | | | | 32,676 | |
| Other current liabilities | | | 9,151 | | | | 9,351 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current liabilities | | | 58,707 | | | | 69,420 | |
| Long-term debt | | | 62,862 | | | | 66,662 | |
| Long-term income taxes | | | 28,888 | | | | 29,612 | |
| Long-term unearned revenue | | | 3,385 | | | | 4,530 | |
| Deferred income taxes | | | 185 | | | | 233 | |
| Operating lease liabilities | | | 7,248 | | | | 6,188 | |
| Other long-term liabilities | | | 9,673 | | | | 7,581 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities | | | 170,948 | | | | 184,226 | |
| | | | | | | | | |
| | | | | | | | | |
| Commitments and contingencies | | | | | | | | |
| Stockholders’ equity: | | | | | | | | |
| Common stock and paid-in capital – shares authorized24,000; outstanding7,590and7,643 | | | 79,813 | | | | 78,520 | |
| Retained earnings | | | 32,012 | | | | 24,150 | |
| Accumulated other comprehensive income (loss) | | | 2,676 | | | | (340 | ) |
| | | | | | | | | |
| | | | | | | | | |
| Total stockholders’ equity | | | 114,501 | | | | 102,330 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities and stockholders’ equity | | $ | 285,449 | | | $ | 286,556 | |
| | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 |
|:---------------------------------------------------------------------------------------------|:-----------|:----------------------------|:-----------|:-----------|:-----------|:---------------------------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| (In millions) (Unaudited) | | Three Months EndedMarch 31, | | | | Nine Months EndedMarch 31, | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | 2020 | | | 2019 | | | 2020 | | | 2019 | | | | | |
| | | | | | | | | | | | | | | | | |
| Operations | | | | | | | | | | | | | | | | |
| Net income | | $ | 10,752 | | | $ | 8,809 | | | $ | 33,079 | | | $ | 26,053 | |
| Adjustments to reconcile net income to net cash from operations: | | | | | | | | | | | | | | | | |
| Depreciation, amortization, and other | | | 3,118 | | | | 2,926 | | | | 9,292 | | | | 8,758 | |
| Stock-based compensation expense | | | 1,338 | | | | 1,172 | | | | 3,940 | | | | 3,462 | |
| Net recognized losses (gains) on investments and derivatives | | | 52 | | | | (95 | ) | | | (140 | ) | | | (470 | ) |
| Deferred income taxes | | | (206 | ) | | | (320 | ) | | | (436 | ) | | | (740 | ) |
| Changes in operating assets and liabilities: | | | | | | | | | | | | | | | | |
| Accounts receivable | | | 891 | | | | 460 | | | | 6,778 | | | | 7,258 | |
| Inventories | | | 181 | | | | 12 | | | | 419 | | | | 710 | |
| Other current assets | | | 94 | | | | (14 | ) | | | (179 | ) | | | (864 | ) |
| Other long-term assets | | | 124 | | | | (517 | ) | | | (726 | ) | | | (969 | ) |
| Accounts payable | | | 546 | | | | (197 | ) | | | (8 | ) | | | (1,032 | ) |
| Unearned revenue | | | (736 | ) | | | 20 | | | | (6,564 | ) | | | (4,543 | ) |
| Income taxes | | | 765 | | | | 276 | | | | (3,042 | ) | | | (879 | ) |
| Other current liabilities | | | 695 | | | | 649 | | | | (1,136 | ) | | | (1,017 | ) |
| Other long-term liabilities | | | (110 | ) | | | 339 | | | | 725 | | | | 350 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net cash from operations | | | 17,504 | | | | 13,520 | | | | 42,002 | | | | 36,077 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Financing | | | | | | | | | | | | | | | | |
| Repayments of debt | | | (3,000 | ) | | | 0 | | | | (5,518 | ) | | | (3,000 | ) |
| Common stock issued | | | 342 | | | | 274 | | | | 1,003 | | | | 834 | |
| Common stock repurchased | | | (7,059 | ) | | | (4,753 | ) | | | (17,177 | ) | | | (14,910 | ) |
| Common stock cash dividends paid | | | (3,876 | ) | | | (3,526 | ) | | | (11,272 | ) | | | (10,290 | ) |
| Other, net | | | (1,052 | ) | | | 404 | | | | (805 | ) | | | (835 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net cash used in financing | | | (14,645 | ) | | | (7,601 | ) | | | (33,769 | ) | | | (28,201 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Investing | | | | | | | | | | | | | | | | |
| Additions to property and equipment | | | (3,767 | ) | | | (2,565 | ) | | | (10,697 | ) | | | (9,874 | ) |
| Acquisition of companies, net of cash acquired, and purchases of intangible and other assets | | | (329 | ) | | | (269 | ) | | | (871 | ) | | | (2,107 | ) |
| Purchases of investments | | | (15,910 | ) | | | (5,846 | ) | | | (58,311 | ) | | | (42,255 | ) |
| Maturities of investments | | | 17,247 | | | | 5,893 | | | | 47,559 | | | | 14,889 | |
| Sales of investments | | | 2,810 | | | | 1,424 | | | | 14,559 | | | | 30,831 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net cash from (used in) investing | | | 51 | | | | (1,363 | ) | | | (7,761 | ) | | | (8,516 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Effect of foreign exchange rates on cash and cash equivalents | | | (64 | ) | | | 18 | | | | (118 | ) | | | (94 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net change in cash and cash equivalents | | | 2,846 | | | | 4,574 | | | | 354 | | | | (734 | ) |
| Cash and cash equivalents, beginning of period | | | 8,864 | | | | 6,638 | | | | 11,356 | | | | 11,946 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Cash and cash equivalents, end of period | | $ | 11,710 | | | $ | 11,212 | | | $ | 11,710 | | | $ | 11,212 | |
| | | | | | | | | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 |
|:----------------------------------------------------|:-----------|:----------------------------|:-----------|:-----------|:---------------------------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| (In millions, except per share amounts) (Unaudited) | | Three Months EndedMarch 31, | | | Nine Months EndedMarch 31, | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | 2020 | | | 2019 | | | | 2020 | | | | 2019 | | | |
| | | | | | | | | | | | | | | | | |
| Revenue: | | | | | | | | | | | | | | | | |
| Product | | $ | 15,871 | | | $ | 15,448 | | | $ | 49,894 | | | $ | 48,966 | |
| Service and other | | | 19,150 | | | | 15,123 | | | | 55,088 | | | | 43,160 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Total revenue | | | 35,021 | | | | 30,571 | | | | 104,982 | | | | 92,126 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Cost of revenue: | | | | | | | | | | | | | | | | |
| Product | | | 3,376 | | | | 3,441 | | | | 11,647 | | | | 12,975 | |
| Service and other | | | 7,599 | | | | 6,729 | | | | 22,092 | | | | 19,523 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Total cost of revenue | | | 10,975 | | | | 10,170 | | | | 33,739 | | | | 32,498 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Gross margin | | | 24,046 | | | | 20,401 | | | | 71,243 | | | | 59,628 | |
| Research and development | | | 4,887 | | | | 4,316 | | | | 14,055 | | | | 12,363 | |
| Sales and marketing | | | 4,911 | | | | 4,565 | | | | 14,181 | | | | 13,251 | |
| General and administrative | | | 1,273 | | | | 1,179 | | | | 3,455 | | | | 3,460 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Operating income | | | 12,975 | | | | 10,341 | | | | 39,552 | | | | 30,554 | |
| Other income (expense), net | | | (132 | ) | | | 145 | | | | 62 | | | | 538 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Income before income taxes | | | 12,843 | | | | 10,486 | | | | 39,614 | | | | 31,092 | |
| Provision for income taxes | | | 2,091 | | | | 1,677 | | | | 6,535 | | | | 5,039 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net income | | $ | 10,752 | | | $ | 8,809 | | | $ | 33,079 | | | $ | 26,053 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Earnings per share: | | | | | | | | | | | | | | | | |
| Basic | | $ | 1.41 | | | $ | 1.15 | | | $ | 4.34 | | | $ | 3.39 | |
| Diluted | | $ | 1.40 | | | $ | 1.14 | | | $ | 4.30 | | | $ | 3.36 | |
| | | | | | | | | | | | | | | | | |
| Weighted average shares outstanding: | | | | | | | | | | | | | | | | |
| Basic | | | 7,602 | | | | 7,672 | | | | 7,619 | | | | 7,679 | |
| Diluted | | | 7,675 | | | | 7,744 | | | | 7,693 | | | | 7,759 | |
| | | | | | | | | | | | | | | | | |
---
English News:
Cloud Computing Market to Hit USD 760.98 Billion by 2027; Rising Demand for Improved Virtual Access to Information Among Industries to Foster Steady Growth: Fortune Business Insights Key Companies Profiled are Adobe, Inc., HCL Technologies, SAP SE, VMware, Inc., The International Business Machines Corporation (IBM) Amazon Web Services (AWS), Hewlett-Packard Company (HPE), Salesforce.com, Rackspace, Inc., Microsoft Corporation, Oracle Corporation - PUNE, India, April 30, 2020 /PRNewswire/ -- The global cloud computing market size is projected to reach USD 760.98 billion by 2027, exhibiting a CAGR of 18.6% during the forecast period. Rising preference for omni-cloud systems will prove highly beneficial for the growth of this market, states Fortune Business Insights in its report, titled \Cloud Computing Market Size, Share & Industry Analysis, By Type (Public Cloud, Private Cloud, Hybrid Cloud), By Service (Infrastructure as a Service (IaaS), Platform as a Service (PaaS), Software as a Service (SaaS)), By Industry (Banking, Financial Services, and Insurance (BFSI), IT and Telecommunications, Government, Consumer Goods and Retail, Healthcare, Manufacturing, Others (Energy and Utilities, Education, Media and Entertainment etc.)), and Regional Forecast, 2020-2027". Continue Reading Cloud Computing Market Analysis, Insights and Forecast, 2016-2027 Omni-cloud computing is a cloud solution that allows multiple cloud services to smoothly integrate and streamline their data on a single platform. The omni-cloud system is being increasingly preferred over the multi-cloud system owing to its multiple advantages and leading the cloud computing market trends. For example, an omni-cloud tool makes possible accessing real-time information from any location. In a departmental store, for instance, whenever there is an inventory shortfall, the cloud will send notification to the authorities, who will then take the necessary action. Similarly, storage of data on a unified platform also enables efficient analysis, enhances productivity, and elevates the quality of services. These, along with a few other benefits, are widening the applicability of omni-cloud computing across a variety of industries. According to the cloud computing market research report, the value of the market stood at USD 199.01 billion in 2019. The other highlights of the report are: Detailed research into the factors driving the market growth; In-depth study of the roadblocks facing the market; Comprehensive analysis of the segments of the market; and Thorough assessment of the competitive developments and regional landscape of the market. Get Sample PDF Brochure:https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/cloud-computing-market-102697An Overview of the Impact of COVID-19 on this Market:The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.Click here to get the short-term and long-term impact of COVID-19 on this Market.Please visit:https://www.fortunebusinessinsights.com/cloud-computing-market-102697Market RestraintPotential Risk of Cyber Attacks to Negatively Influence Adoption of Cloud SystemsToday, majority of organizations and many government departments and agencies have shifted their databases onto the cloud to improve efficiency and productivity of resources as well as bring down costs. Unfortunately, this move has exposed sensitive information to hackers, who have frequently launched cyber-attacks to retrieve and misuse data. For instance, the US-based Center for Strategic & International Studies (CSIS) revealed that in April 2020 hackers from Iran attempted to breach personal files of World Health Organization (WHO) staffers while the world was reeling under the coronavirus pandemic. In February 2020, two Chinese hackers were persecuted by the US Department of Justice for performing cryptocurrency laundering activities for North Korean nationals. Such attacks are prompted by the availability of delicate data on cloud platforms and the constant threat of privacy infringement may hinder the cloud computing market growth in the upcoming years.Regional AnalysisStrong Presence of Tech Bigwigs to Augment the Market in North AmericaNorth America is home to some of the biggest technology companies such as Google, Microsoft, and IBM and this factor has enabled the region to boast a market size of USD 61.59 billion in 2019. Moreover, the regulatory and research environment in the region is extremely favorable for development and adoption of advanced cloud technologies based on Artificial Intelligence (AI) and Machine Learning (ML). As a result, North America is slated to dominate the cloud computing market share during the forecast period. Increasing penetration of the internet and rising usage of smartphones will aid Asia-Pacific register a high CAGR, while rapid deployment of 5G will favor market growth in Latin America and Middle East & Africa. Speak to Analyst:https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/cloud-computing-market-102697Competitive LandscapeAdvent of IoT to Create Numerous Innovation Opportunities for Market PlayersThe market leaders such as Oracle and SAP are directing their research and investment energies toward efficiently utilizing the opportunities generated by the Internet of Things (IoT) phenomenon. Most of the players in this market are focused of making their products and services smarter and more streamlined using IoT-based tools. Industry Developments: October 2019: SAP SE, the German software company, launched SAP HANA, the company's integrated cloud service with advanced data and analytics capabilities. The service comprises of the SAP Data Warehouse Cloud solution to enable efficient warehouse management. July 2019: Bahrain became the first country in the Middle East where Amazon Web Services (AWS), Amazon's cloud computing division, introduced its cloud solutions. The company aims at tapping the technological potential of businesses in the Middle East through the launch of its services in the region. List of Key Players Profiled in the Cloud Computing Market Report are: Adobe, Inc. HCL Technologies SAP SE VMware, Inc. The International Business Machines Corporation (IBM) Amazon Web Services (AWS) Hewlett-Packard Company (HPE) Salesforce.com Rackspace, Inc. Microsoft Corporation Oracle Corporation Quick Buy Cloud Computing Market Research Report:https://www.fortunebusinessinsights.com/checkout-page/102697Detailed Table of Content Introduction Definition, By Segment Research Approach Sources Executive Summary Market Dynamics Drivers, Restraints and Opportunities Emerging Trends Key Insights Macro and Micro Economic Indicators Consolidated SWOT Analysis of Key Players Global Cloud Computing Market Analysis, Insights and Forecast, 2016-2027 Key Findings / Summary Market Sizing Estimations and Forecasts By Type Public Cloud Private Cloud Hybrid Cloud Market Size Estimates and Forecasts By Services Infrastructure as a Service (IaaS) Platform as a Service (PaaS) Software as a Service (SaaS) Market Size Estimates and Forecasts By Industry Banking, Financial Services, and Insurance (BFSI) IT and Telecommunications Government Consumer Goods and Retail Healthcare Manufacturing Others (Energy and Utilities, Education, Media and Entertainment etc.) Market Analysis, Insights and Forecast By Region North America Europe Asia-Pacific (APAC) Middle East & Africa (MEA) Latin America (LATAM) TOC Continued...!!!Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/cloud-computing-market-102697 Have a Look at Related Research Insights:Cloud security MarketSize, Share & Industry Analysis, By Component (Solutions, Services), By Security Type (Application Security, Database Security, Endpoint Security, Network Security, Web and Email Security), By Deployment (Private, Public, Hybrid), By End-User (Large scale enterprise , Small & medium enterprise), By Industry Verticals (Healthcare, BFSI, IT & Telecom, Government Agencies)Others and Regional Forecast, 2019-2026Software as a Service (SaaS) MarketSize, Share & Industry Analysis, By Cloud Deployment (Public, Private, Hybrid), By Application (Customer Relationship Management (CRM), Enterprise Resource Planning (ERP), Human Resource Management (HRM), Supply Chain Management (SCM), Other), By Industry Verticals (BFSI, Information Technology (IT) and Telecommunication, Manufacturing, Retail, Healthcare) Others and Regional Forecast, 2019-2026Cloud Gaming MarketSize, Share & Industry Analysis, By Device (Smartphone, Laptop/Tablets, Personal Computer (PC), Smart TV and Consoles), By Streaming Type (File Streaming and Video Streaming), By End-Users (Business to Business (B2B) and Business to Consumers (B2C)), and Regional Forecast, 2020-2027Cyber Security MarketSize, Share & Industry Analysis, By Solution (Network Security, Cloud Application Security, End-point Security, Secure Web Gateway, Internet Security), By Deployment Type (Cloud and On Premise), By Enterprise Size (Small & Medium Enterprise and Large Enterprise), By End-Use (BFSI, IT and Telecommunications, Retail, Healthcare, Government, Manufacturing) and Region Forecast, 2020-2027Internet of Things (IoT) MarketSize, Share and Industry Analysis By Platform (Device Management, Application Management, Network Management), By Software & Services (Software Solution, Services), By End-Use Industry (BFSI, Retail, Governments, Healthcare, Others) And Regional Forecast, 2019 2026Artificial Intelligence (AI) MarketSize, Share and Industry Analysis By Component (Hardware, Software, Services), By Technology (Computer Vision, Machine Learning, Natural Language Processing, Others), By Industry Vertical (BFSI, Healthcare, Manufacturing, Retail, IT & Telecom, Government, Others) and Regional Forecast, 2019-2026Blockchain Technology Market Size, Share and Industry Analysis by Product Type (Vertical Solutions, Blockchain-as-a-Service), Deployment, Industry Vertical (BFSI, Energy & Utilities, Government, Healthcare and Life Sciences, Manufacturing, Telecom, Media & Ent., Retail & Consumer Goods, Travel and Transportation), and Regional Forecast 2018-2025About Us:Fortune Business Insightsoffers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data. At Fortune Business Insights, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.Contact Us:Fortune Business Insights Pvt. Ltd.308, Supreme Headquarters,Survey No. 36, Baner,Pune-Bangalore Highway,Pune- 411045, Maharashtra,India.Phone:US: +1-424-253-0390UK: +44-2071-939123APAC: +91-744-740-1245Email:[emailprotected]Fortune Business InsightsLinkedIn|Twitter|BlogsRead Press Release:https://www.fortunebusinessinsights.com/press-release/cloud-computing-market-9843SOURCE Fortune Business Insights",
Chinese News:
4月30日，微软发布了2020年第三财季(即自然年2020年第一季度)财报。根据财报，微软第三财季营收达到350亿美元，同比去年的306亿美元增长15%；净利润108亿美元，同比增长22%；每股收益为1.4美元，同比增加23%。截至4月30日，微软股价为177.43美元每股，总市值为13495.41亿美元。按照部门划分，微软第三财季生产与业务流程营收117亿美元，同比增长15%，其中Office 365取得了25%的增长；智能云营收123亿美元，同比增长27%，其中服务器产品和云服务营收增长了30%；个人计算部门本季度营收为110亿美元，同比增长了3%，旗下Windows商业产品本季度同比增长17%，其余Surface、Xbox、搜索广告业务都获得了小幅增长.云计算业务成为该季度业绩的核心。微软CFO Amy Hood在财报中表示，“我们的销售团队和伙伴完成了扎实的第三财季，商业云服务营收为133亿美元，同比增长了39%。”同时，Azure云该季度营收增长59% 。在随后的财报电话会议中，微软CEO Satya Nadella表示，由于远程办公需求激增，市场对微软Teams、远程桌面和安全产品的需求增加，微软正在扩大远程办公类产品的规模以满足他们的需求。后期进入经济复苏阶段，会产生混合办公模式，该阶段微软的架构产品优势将显现。另一方面，微软云近期拿下多张大单。4月初，微软确认此前来自美国国防部的100亿美元云计算合约，并未出现非法问题。随后在4月28日，微软宣布与可口可乐达成一项五年期的合同，为可口可乐提供商业软件供应。微软在财报中表示，疫情对微软第三财季的营收影响并不大。微软部分产品的用户，因为疫情急剧增加。此前在接受第一财经采访时，微软公司副总裁兼中国区首席运营官邹作基表示，微软的远程会议App用户数量以及云服务业务正在快速增长。他表示，近期微软云计算服务的使用量增加了775%。此外，远程办公软件日活用户也不断增加。截至3月18日，Teams日活用户已增至4400万，相比3月11日一周内增加了1200万日活用户。微软曾在2月下旬下调了第三财季财务预期，认为受供应链恢复影响，其更多个人计算部门将不会达到此前预期。但从4月30日的财报看，更多个人计算部门仍然实现了增长。此外，2020年第三财季微软仍发生了一些人事变化，创始人比尔·盖茨在3月14日宣布退出公司董事会，结束了在微软的45年职业生涯。
Japanese News:
"米Microsoftが4月29日 (現地時間)に発表した同社2020年度第3四半期 (2020年1月〜3月)決算は売上高、純利益ともに1〜3月期の過去最高だった。Windows事業が減速したものの、在宅勤務や在宅学習の広がりによるクラウド事業やOfficeの伸びが全体をけん引。「全体ではCOVID-19が収益に与えた影響は最小にとどまった」としている。 CEOのSatya Nadella氏は3月期について「2年分に相当するデジタル変革が2カ月で起こるのを見た」と述べた。在宅勤務需要を追い風に、コラボレーションツール「Microsoft Teams」が3月にDAU (デイリーアクティブユーザー)を3200万人 (3月11日)、4400万人(3月18日)と急増させた。その伸びが4月も続いて7500万人を突破。4月にはミーティング参加者の合計が2億人を超える日があったという。在宅勤務や在宅学習からセールス、カスタマーサービスまで、あらゆるプロダクティビティのニーズがリモートへとシフトし、それに伴うクラウド基盤やセキュリティへの要求にもMicrosoftは応えている。 3月期の売上高は350億ドルで前年同期比15%増。純利益は同22%増の108億ドル、1株利益は1.40ドルだった。市場予想の平均は、売上高337億ドル、1株利益1.26ドルだった。以下は部門別の売上高。 売上高110億ドルで前年同期比3%増だった。Windows OEM Proが同5％増にとどまり、OEM non-Proは同10％減だった。Windows 7のサポート終了に備えた買い替えが落ち着いて減速が予想された中、在宅勤務や在宅学習で需要が増加したものの、新型コロナウイルスの影響を最も早く受けた中国のサプライチェーンが供給のボトルネックになった。一方で、Windows Commercial製品とクラウドサービスはMicrosoft 365の順調な伸びで同17％増だった。 他のカテゴリーは、Surfaceデバイスの売上高が前年同期比1%増だった。ゲーミングは同1％減。Xboxコンテンツおよびサービスは、前年同期にサードパーティ・タイトルが好調だったため同2％増にとどまったが、外出自粛要請で3月期にゲームで遊ぶ人が増加した。 売上高117億4000万ドルで前年同期比15%増だった。コマーシャル向けOffice製品/クラウドサービスの売上高が同13％増。Office 365のコマーシャルシート数が20％増加し、売上高が同25％増だった。コンシューマ向けOffice製品/クラウドサービスの売上高は同15％増。3月末時点のコンシューマ向けOffice 365の契約者数は3960万人、前期から240万人の増加だ。 売上高122億8000万ドルで前年同期比27%増だった。サーバー製品およびクラウドサービスの売上高は同30％増。Azureが同59％増、サーバー製品が同6％増だった。"
Spanish News:
"Microsoft ha presentado sus beneficios del tercer trimestre de su año fiscal este miércoles, y ha superado las expectativas de los analistas al presentar 35.000 millones de dólares en ingresos y 10.800 millones en beneficio neto. La compañía asegura que la crisis del coronavirus ha tenido un ""impacto neto mínimo"" en los ingresos. El uso de la nube ha aumentado durante la crisis, según Microsoft, a la vez que hubo una ""desaceleración en licencias, sobre todo en pequeña y mediana empresa, y una reducción de la facturación publicitaria en LinkedIn"". Las acciones subieron un 1% en las operaciones posteriores a los resultados, hasta los 179 dólares por acción en el momento en el que se escribían estas líneas. Microsoft presentó este miércoles los resultados del tercer trimestre de su año fiscal, justo después de que cerrara la bolsa. Los números han superado las expectativas de Wall Street, con lo que las operaciones fuera de hora registraron subidas en las acciones de un 1% hasta los 179 dólares. Esto es lo que ha detallado la compañía: Ingresos: 35.000 millones de dólares (32.100 millones de euros). Wall Street esperaba 33.660 millones de dólares. El mismo trimestre del año pasado registró 30.600 millones de dólares en ingresos. Beneficios: 1,40 dólares por acción. Los analistas estimaban 1,26 dólares por acción. Beneficio neto: 10.800 millones de dólares (9.920 millones de euros), un crecimiento del 22%. El negocio global de Microsoft en la nube —que incluye la plataforma cloud de Azure, Office 365 y otros servicios— registró 13.300 millones de dólares (12.200 millones de euros) en ventas este trimestre, un 39% más con respecto al mismo período del año anterior. La división que Microsoft conoce como More Personal Computing, que incluye Windows, su buscador, Xbox y Surface, ha registrado ventas por 11.000 millones de dólares (10.100 millones de euros), un 3% más que el año pasado. En febrero Microsoft rebajó sus previsiones para este segmento, advirtiendo los problemas con su cadena de suministros y la incertidumbre ""relacionada con la situación sanitaria en China"". Leer más: Microsoft va camino de convertirse en una de las grandes triunfadoras en tiempos de pandemia, pero también muestra dos señales de precaución a medida que la economía se aproxima a un futuro incierto A pesar de los problemas con la cadena de suministros, Microsoft asegura que los ingresos relacionados con dispositivos Windows y Surface se han beneficiado del aumento del teletrabajo. Su división gaming, Xbox, también ha disfrutado un empujón del 2% interanual. El negocio de la nube inteligente, que incluye Azure, servidores y productos empresariales en la nube también ha registrado un incremento del 27% interanual, con 12.300 millones de dólares en ventas (11.300 millones en euros). Los ingresos de Azure crecieron un 59% con respecto al mismo trimestre del año pasado, pero la compañía no ha publicado los datos de ingresos actuales de la plataforma. Los ingresos en el área de Procesos de Productividad y Negocios, que incluye los productos Office para negocios y clientes, LinkedIn y productos de Dynamics, aumentaron un 15% hasta los 11.700 millones de dólares (10.750 millones en euros). Leer más: El confinamiento nos vuelve más tecnológicos: un 40% de las ventas de Bankia en marzo ya son digitales y un 55% de los clientes utilizan estos canales a distancia La firma asegura que la crisis del coronavirus ha tenido un ""impacto neto mínimo"" en los ingresos de la compañía. El uso de la nube ha aumentado —especialmente en los paquetes de Microsoft 365 con aplicaciones como Teams, Azure, Windows Virtual Desktop, sus soluciones de seguridad avanzadas o Power Platform. Mientras tanto, Microsoft también ha admitido una desaceleración en licencias a pequeñas y medianas empresas, y una reducción en la inversión publicitaria en LinkedIn. El negocio de la compañía de Seattle permanece sólido en mitad de la pandemia, pero ya hay señales de que la firma ha adoptado una estrategia de precaución a medida que crece la incertidumbre sobre la economía global. La empresa ha experimentado un aumento sin precedentes del uso de sus plataformas para teletrabajo. Este incremento ha supuesto un desafío para la capacidad de Microsoft, que ha tenido dificultades para atender toda la demanda. En la presentación de sus resultados, Microsoft aseguró que ha aplazado los datos de ingresos concretos sobre su infraestructura cloud debido a las restricciones en su cadena de suministros. Conoce cómo trabajamos en BusinessInsider."
Greek News:
"Ισχυρές επιδόσεις κατέγραψε η Microsoft στο τρίτο τρίμηνο του οικονομικού έτους, επιβεβαιώνοντας τη σταθερή δυναμική της στον τομέα των υπηρεσιών cloud. Συγκεκριμένα, οι πωλήσεις της επιχείρησης στον τομέα υπηρεσιών cloud, στην οποία περιλαμβάνονται οι υπηρεσίες Microsoft Azure, Office 365 και άλλες cloud λύσεις, ανήλθαν στα 13,3 δισεκατομμύρια δολάρια, σημειώνοντας ετήσια αύξηση της τάξεως του 39%. Στο σύνολο των δραστηριοτήτων της εταιρείας, τα έσοδα ενισχύθηκαν κατά 4,5 δισεκατομμύρια δολάρια ή 15%, εξέλιξη που αποδίδεται στην ανάπτυξη όλων των επιμέρους επιχειρηματικών μονάδων. Το τμήμα Intelligent Cloud κατέγραψε ισχυρή άνοδο, κυρίως μέσω των προϊόντων παροχής server και της παροχής υπηρεσιών cloud. Παράλληλα, τα έσοδα από τις λύσεις παραγωγικότητας και επιχειρηματικών διαδικασιών ενισχύθηκαν λόγω της αυξημένης ζήτησης για Office και LinkedIn, ενώ αυξημένα ήταν και τα έσοδα από προσωπικούς υπολογιστές, κυρίως χάρη στο λογισμικό Windows. Το μικτό περιθώριο αυξήθηκε κατά 3,6 δισεκατομμύρια δολάρια ή 18%, αντικατοπτρίζοντας τη βελτίωση του κερδοφόρου μείγματος πωλήσεων και την ισχυρότερη απόδοση επιχειρηματικών μονάδων με υψηλότερα περιθώρια. Ειδικότερα, το ποσοστό μικτού περιθωρίου του εμπορικού cloud ενισχύθηκε κατά τέσσερις ποσοστιαίες μονάδες, φθάνοντας το 67%, κυρίως λόγω των επιδόσεων του Azure. Παράλληλα με την επιχειρηματική της ανάπτυξη, η Microsoft προχώρησε και σε μία χορηγία πολιτιστικού χαρακτήρα προς το Ελληνικό Δημόσιο. Πρόκειται για την υλοποίηση εφαρμογής ψηφιακής αναπαράστασης, με τη χρήση τεχνολογιών τρισδιάστατης απεικόνισης, των μνημείων στον αρχαιολογικό χώρο και το μουσείο της Αρχαίας Ολυμπίας. Το έργο αυτό, το οποίο δεν επιβαρύνει δημοσιονομικά την Ελλάδα, θα προσφέρει τη δυνατότητα εικονικής περιήγησης με τεχνολογία 3D μέσω διαδικτυακής πλατφόρμας που επίσης θα αναπτυχθεί από την εταιρεία."
Question:
What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: Microsoft's strategies on navigating maintaining profit margins include: 1. expanding cloud and remote work solutions like Azure and Teams; 2. accelerating digital transformation; 3. securing large enterprise contracts.
Financial Statements Evidence: Microsoft’s gross margin increased from $20.4B to $24.0B YoY in Q3 FY2020, driven by service revenue growth (from $15.1B to $19.2B). Operating income increased from $10.3B to $13.0B, and net income increased from $8.8B to $10.8B. |
MSFT_20200429 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 |
|:-------------------------------------------------------------------------------------|:-----------|:--------------|:-----------|:-----------|:-------------|:-----------|:-----------|:-----------|
| (In millions) (Unaudited) | | | | | | | | |
| | | | | | | | | |
| | | | | | | | | |
| | | March 31,2020 | | | June 30,2019 | | | |
| | | | | | | | | |
| Assets | | | | | | | | |
| Current assets: | | | | | | | | |
| Cash and cash equivalents | | $ | 11,710 | | | $ | 11,356 | |
| Short-term investments | | | 125,916 | | | | 122,463 | |
| | | | | | | | | |
| | | | | | | | | |
| Total cash, cash equivalents, and short-term investments | | | 137,626 | | | | 133,819 | |
| Accounts receivable, net of allowance for doubtful accounts of$446and $411 | | | 22,699 | | | | 29,524 | |
| Inventories | | | 1,644 | | | | 2,063 | |
| Other current assets | | | 8,536 | | | | 10,146 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current assets | | | 170,505 | | | | 175,552 | |
| Property and equipment, net of accumulated depreciation of$41,512and $35,330 | | | 41,221 | | | | 36,477 | |
| Operating lease right-of-use assets | | | 8,448 | | | | 7,379 | |
| Equity investments | | | 2,660 | | | | 2,649 | |
| Goodwill | | | 42,064 | | | | 42,026 | |
| Intangible assets, net | | | 6,855 | | | | 7,750 | |
| Other long-term assets | | | 13,696 | | | | 14,723 | |
| | | | | | | | | |
| | | | | | | | | |
| Total assets | | $ | 285,449 | | | $ | 286,556 | |
| | | | | | | | | |
| | | | | | | | | |
| Liabilities and stockholders’ equity | | | | | | | | |
| Current liabilities: | | | | | | | | |
| Accounts payable | | $ | 9,246 | | | $ | 9,382 | |
| Current portion of long-term debt | | | 3,748 | | | | 5,516 | |
| Accrued compensation | | | 6,254 | | | | 6,830 | |
| Short-term income taxes | | | 3,296 | | | | 5,665 | |
| Short-term unearned revenue | | | 27,012 | | | | 32,676 | |
| Other current liabilities | | | 9,151 | | | | 9,351 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current liabilities | | | 58,707 | | | | 69,420 | |
| Long-term debt | | | 62,862 | | | | 66,662 | |
| Long-term income taxes | | | 28,888 | | | | 29,612 | |
| Long-term unearned revenue | | | 3,385 | | | | 4,530 | |
| Deferred income taxes | | | 185 | | | | 233 | |
| Operating lease liabilities | | | 7,248 | | | | 6,188 | |
| Other long-term liabilities | | | 9,673 | | | | 7,581 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities | | | 170,948 | | | | 184,226 | |
| | | | | | | | | |
| | | | | | | | | |
| Commitments and contingencies | | | | | | | | |
| Stockholders’ equity: | | | | | | | | |
| Common stock and paid-in capital – shares authorized24,000; outstanding7,590and7,643 | | | 79,813 | | | | 78,520 | |
| Retained earnings | | | 32,012 | | | | 24,150 | |
| Accumulated other comprehensive income (loss) | | | 2,676 | | | | (340 | ) |
| | | | | | | | | |
| | | | | | | | | |
| Total stockholders’ equity | | | 114,501 | | | | 102,330 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities and stockholders’ equity | | $ | 285,449 | | | $ | 286,556 | |
| | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 |
|:---------------------------------------------------------------------------------------------|:-----------|:----------------------------|:-----------|:-----------|:-----------|:---------------------------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| (In millions) (Unaudited) | | Three Months EndedMarch 31, | | | | Nine Months EndedMarch 31, | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | 2020 | | | 2019 | | | 2020 | | | 2019 | | | | | |
| | | | | | | | | | | | | | | | | |
| Operations | | | | | | | | | | | | | | | | |
| Net income | | $ | 10,752 | | | $ | 8,809 | | | $ | 33,079 | | | $ | 26,053 | |
| Adjustments to reconcile net income to net cash from operations: | | | | | | | | | | | | | | | | |
| Depreciation, amortization, and other | | | 3,118 | | | | 2,926 | | | | 9,292 | | | | 8,758 | |
| Stock-based compensation expense | | | 1,338 | | | | 1,172 | | | | 3,940 | | | | 3,462 | |
| Net recognized losses (gains) on investments and derivatives | | | 52 | | | | (95 | ) | | | (140 | ) | | | (470 | ) |
| Deferred income taxes | | | (206 | ) | | | (320 | ) | | | (436 | ) | | | (740 | ) |
| Changes in operating assets and liabilities: | | | | | | | | | | | | | | | | |
| Accounts receivable | | | 891 | | | | 460 | | | | 6,778 | | | | 7,258 | |
| Inventories | | | 181 | | | | 12 | | | | 419 | | | | 710 | |
| Other current assets | | | 94 | | | | (14 | ) | | | (179 | ) | | | (864 | ) |
| Other long-term assets | | | 124 | | | | (517 | ) | | | (726 | ) | | | (969 | ) |
| Accounts payable | | | 546 | | | | (197 | ) | | | (8 | ) | | | (1,032 | ) |
| Unearned revenue | | | (736 | ) | | | 20 | | | | (6,564 | ) | | | (4,543 | ) |
| Income taxes | | | 765 | | | | 276 | | | | (3,042 | ) | | | (879 | ) |
| Other current liabilities | | | 695 | | | | 649 | | | | (1,136 | ) | | | (1,017 | ) |
| Other long-term liabilities | | | (110 | ) | | | 339 | | | | 725 | | | | 350 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net cash from operations | | | 17,504 | | | | 13,520 | | | | 42,002 | | | | 36,077 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Financing | | | | | | | | | | | | | | | | |
| Repayments of debt | | | (3,000 | ) | | | 0 | | | | (5,518 | ) | | | (3,000 | ) |
| Common stock issued | | | 342 | | | | 274 | | | | 1,003 | | | | 834 | |
| Common stock repurchased | | | (7,059 | ) | | | (4,753 | ) | | | (17,177 | ) | | | (14,910 | ) |
| Common stock cash dividends paid | | | (3,876 | ) | | | (3,526 | ) | | | (11,272 | ) | | | (10,290 | ) |
| Other, net | | | (1,052 | ) | | | 404 | | | | (805 | ) | | | (835 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net cash used in financing | | | (14,645 | ) | | | (7,601 | ) | | | (33,769 | ) | | | (28,201 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Investing | | | | | | | | | | | | | | | | |
| Additions to property and equipment | | | (3,767 | ) | | | (2,565 | ) | | | (10,697 | ) | | | (9,874 | ) |
| Acquisition of companies, net of cash acquired, and purchases of intangible and other assets | | | (329 | ) | | | (269 | ) | | | (871 | ) | | | (2,107 | ) |
| Purchases of investments | | | (15,910 | ) | | | (5,846 | ) | | | (58,311 | ) | | | (42,255 | ) |
| Maturities of investments | | | 17,247 | | | | 5,893 | | | | 47,559 | | | | 14,889 | |
| Sales of investments | | | 2,810 | | | | 1,424 | | | | 14,559 | | | | 30,831 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net cash from (used in) investing | | | 51 | | | | (1,363 | ) | | | (7,761 | ) | | | (8,516 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Effect of foreign exchange rates on cash and cash equivalents | | | (64 | ) | | | 18 | | | | (118 | ) | | | (94 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net change in cash and cash equivalents | | | 2,846 | | | | 4,574 | | | | 354 | | | | (734 | ) |
| Cash and cash equivalents, beginning of period | | | 8,864 | | | | 6,638 | | | | 11,356 | | | | 11,946 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Cash and cash equivalents, end of period | | $ | 11,710 | | | $ | 11,212 | | | $ | 11,710 | | | $ | 11,212 | |
| | | | | | | | | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 |
|:----------------------------------------------------|:-----------|:----------------------------|:-----------|:-----------|:---------------------------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| (In millions, except per share amounts) (Unaudited) | | Three Months EndedMarch 31, | | | Nine Months EndedMarch 31, | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | 2020 | | | 2019 | | | | 2020 | | | | 2019 | | | |
| | | | | | | | | | | | | | | | | |
| Revenue: | | | | | | | | | | | | | | | | |
| Product | | $ | 15,871 | | | $ | 15,448 | | | $ | 49,894 | | | $ | 48,966 | |
| Service and other | | | 19,150 | | | | 15,123 | | | | 55,088 | | | | 43,160 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Total revenue | | | 35,021 | | | | 30,571 | | | | 104,982 | | | | 92,126 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Cost of revenue: | | | | | | | | | | | | | | | | |
| Product | | | 3,376 | | | | 3,441 | | | | 11,647 | | | | 12,975 | |
| Service and other | | | 7,599 | | | | 6,729 | | | | 22,092 | | | | 19,523 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Total cost of revenue | | | 10,975 | | | | 10,170 | | | | 33,739 | | | | 32,498 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Gross margin | | | 24,046 | | | | 20,401 | | | | 71,243 | | | | 59,628 | |
| Research and development | | | 4,887 | | | | 4,316 | | | | 14,055 | | | | 12,363 | |
| Sales and marketing | | | 4,911 | | | | 4,565 | | | | 14,181 | | | | 13,251 | |
| General and administrative | | | 1,273 | | | | 1,179 | | | | 3,455 | | | | 3,460 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Operating income | | | 12,975 | | | | 10,341 | | | | 39,552 | | | | 30,554 | |
| Other income (expense), net | | | (132 | ) | | | 145 | | | | 62 | | | | 538 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Income before income taxes | | | 12,843 | | | | 10,486 | | | | 39,614 | | | | 31,092 | |
| Provision for income taxes | | | 2,091 | | | | 1,677 | | | | 6,535 | | | | 5,039 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net income | | $ | 10,752 | | | $ | 8,809 | | | $ | 33,079 | | | $ | 26,053 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Earnings per share: | | | | | | | | | | | | | | | | |
| Basic | | $ | 1.41 | | | $ | 1.15 | | | $ | 4.34 | | | $ | 3.39 | |
| Diluted | | $ | 1.40 | | | $ | 1.14 | | | $ | 4.30 | | | $ | 3.36 | |
| | | | | | | | | | | | | | | | | |
| Weighted average shares outstanding: | | | | | | | | | | | | | | | | |
| Basic | | | 7,602 | | | | 7,672 | | | | 7,619 | | | | 7,679 | |
| Diluted | | | 7,675 | | | | 7,744 | | | | 7,693 | | | | 7,759 | |
| | | | | | | | | | | | | | | | | |
---
English News:
Cloud Computing Market to Hit USD 760.98 Billion by 2027; Rising Demand for Improved Virtual Access to Information Among Industries to Foster Steady Growth: Fortune Business Insights Key Companies Profiled are Adobe, Inc., HCL Technologies, SAP SE, VMware, Inc., The International Business Machines Corporation (IBM) Amazon Web Services (AWS), Hewlett-Packard Company (HPE), Salesforce.com, Rackspace, Inc., Microsoft Corporation, Oracle Corporation - PUNE, India, April 30, 2020 /PRNewswire/ -- The global cloud computing market size is projected to reach USD 760.98 billion by 2027, exhibiting a CAGR of 18.6% during the forecast period. Rising preference for omni-cloud systems will prove highly beneficial for the growth of this market, states Fortune Business Insights in its report, titled \Cloud Computing Market Size, Share & Industry Analysis, By Type (Public Cloud, Private Cloud, Hybrid Cloud), By Service (Infrastructure as a Service (IaaS), Platform as a Service (PaaS), Software as a Service (SaaS)), By Industry (Banking, Financial Services, and Insurance (BFSI), IT and Telecommunications, Government, Consumer Goods and Retail, Healthcare, Manufacturing, Others (Energy and Utilities, Education, Media and Entertainment etc.)), and Regional Forecast, 2020-2027". Continue Reading Cloud Computing Market Analysis, Insights and Forecast, 2016-2027 Omni-cloud computing is a cloud solution that allows multiple cloud services to smoothly integrate and streamline their data on a single platform. The omni-cloud system is being increasingly preferred over the multi-cloud system owing to its multiple advantages and leading the cloud computing market trends. For example, an omni-cloud tool makes possible accessing real-time information from any location. In a departmental store, for instance, whenever there is an inventory shortfall, the cloud will send notification to the authorities, who will then take the necessary action. Similarly, storage of data on a unified platform also enables efficient analysis, enhances productivity, and elevates the quality of services. These, along with a few other benefits, are widening the applicability of omni-cloud computing across a variety of industries. According to the cloud computing market research report, the value of the market stood at USD 199.01 billion in 2019. The other highlights of the report are: Detailed research into the factors driving the market growth; In-depth study of the roadblocks facing the market; Comprehensive analysis of the segments of the market; and Thorough assessment of the competitive developments and regional landscape of the market. Get Sample PDF Brochure:https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/cloud-computing-market-102697An Overview of the Impact of COVID-19 on this Market:The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.Click here to get the short-term and long-term impact of COVID-19 on this Market.Please visit:https://www.fortunebusinessinsights.com/cloud-computing-market-102697Market RestraintPotential Risk of Cyber Attacks to Negatively Influence Adoption of Cloud SystemsToday, majority of organizations and many government departments and agencies have shifted their databases onto the cloud to improve efficiency and productivity of resources as well as bring down costs. Unfortunately, this move has exposed sensitive information to hackers, who have frequently launched cyber-attacks to retrieve and misuse data. For instance, the US-based Center for Strategic & International Studies (CSIS) revealed that in April 2020 hackers from Iran attempted to breach personal files of World Health Organization (WHO) staffers while the world was reeling under the coronavirus pandemic. In February 2020, two Chinese hackers were persecuted by the US Department of Justice for performing cryptocurrency laundering activities for North Korean nationals. Such attacks are prompted by the availability of delicate data on cloud platforms and the constant threat of privacy infringement may hinder the cloud computing market growth in the upcoming years.Regional AnalysisStrong Presence of Tech Bigwigs to Augment the Market in North AmericaNorth America is home to some of the biggest technology companies such as Google, Microsoft, and IBM and this factor has enabled the region to boast a market size of USD 61.59 billion in 2019. Moreover, the regulatory and research environment in the region is extremely favorable for development and adoption of advanced cloud technologies based on Artificial Intelligence (AI) and Machine Learning (ML). As a result, North America is slated to dominate the cloud computing market share during the forecast period. Increasing penetration of the internet and rising usage of smartphones will aid Asia-Pacific register a high CAGR, while rapid deployment of 5G will favor market growth in Latin America and Middle East & Africa. Speak to Analyst:https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/cloud-computing-market-102697Competitive LandscapeAdvent of IoT to Create Numerous Innovation Opportunities for Market PlayersThe market leaders such as Oracle and SAP are directing their research and investment energies toward efficiently utilizing the opportunities generated by the Internet of Things (IoT) phenomenon. Most of the players in this market are focused of making their products and services smarter and more streamlined using IoT-based tools. Industry Developments: October 2019: SAP SE, the German software company, launched SAP HANA, the company's integrated cloud service with advanced data and analytics capabilities. The service comprises of the SAP Data Warehouse Cloud solution to enable efficient warehouse management. July 2019: Bahrain became the first country in the Middle East where Amazon Web Services (AWS), Amazon's cloud computing division, introduced its cloud solutions. The company aims at tapping the technological potential of businesses in the Middle East through the launch of its services in the region. List of Key Players Profiled in the Cloud Computing Market Report are: Adobe, Inc. HCL Technologies SAP SE VMware, Inc. The International Business Machines Corporation (IBM) Amazon Web Services (AWS) Hewlett-Packard Company (HPE) Salesforce.com Rackspace, Inc. Microsoft Corporation Oracle Corporation Quick Buy Cloud Computing Market Research Report:https://www.fortunebusinessinsights.com/checkout-page/102697Detailed Table of Content Introduction Definition, By Segment Research Approach Sources Executive Summary Market Dynamics Drivers, Restraints and Opportunities Emerging Trends Key Insights Macro and Micro Economic Indicators Consolidated SWOT Analysis of Key Players Global Cloud Computing Market Analysis, Insights and Forecast, 2016-2027 Key Findings / Summary Market Sizing Estimations and Forecasts By Type Public Cloud Private Cloud Hybrid Cloud Market Size Estimates and Forecasts By Services Infrastructure as a Service (IaaS) Platform as a Service (PaaS) Software as a Service (SaaS) Market Size Estimates and Forecasts By Industry Banking, Financial Services, and Insurance (BFSI) IT and Telecommunications Government Consumer Goods and Retail Healthcare Manufacturing Others (Energy and Utilities, Education, Media and Entertainment etc.) Market Analysis, Insights and Forecast By Region North America Europe Asia-Pacific (APAC) Middle East & Africa (MEA) Latin America (LATAM) TOC Continued...!!!Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/cloud-computing-market-102697 Have a Look at Related Research Insights:Cloud security MarketSize, Share & Industry Analysis, By Component (Solutions, Services), By Security Type (Application Security, Database Security, Endpoint Security, Network Security, Web and Email Security), By Deployment (Private, Public, Hybrid), By End-User (Large scale enterprise , Small & medium enterprise), By Industry Verticals (Healthcare, BFSI, IT & Telecom, Government Agencies)Others and Regional Forecast, 2019-2026Software as a Service (SaaS) MarketSize, Share & Industry Analysis, By Cloud Deployment (Public, Private, Hybrid), By Application (Customer Relationship Management (CRM), Enterprise Resource Planning (ERP), Human Resource Management (HRM), Supply Chain Management (SCM), Other), By Industry Verticals (BFSI, Information Technology (IT) and Telecommunication, Manufacturing, Retail, Healthcare) Others and Regional Forecast, 2019-2026Cloud Gaming MarketSize, Share & Industry Analysis, By Device (Smartphone, Laptop/Tablets, Personal Computer (PC), Smart TV and Consoles), By Streaming Type (File Streaming and Video Streaming), By End-Users (Business to Business (B2B) and Business to Consumers (B2C)), and Regional Forecast, 2020-2027Cyber Security MarketSize, Share & Industry Analysis, By Solution (Network Security, Cloud Application Security, End-point Security, Secure Web Gateway, Internet Security), By Deployment Type (Cloud and On Premise), By Enterprise Size (Small & Medium Enterprise and Large Enterprise), By End-Use (BFSI, IT and Telecommunications, Retail, Healthcare, Government, Manufacturing) and Region Forecast, 2020-2027Internet of Things (IoT) MarketSize, Share and Industry Analysis By Platform (Device Management, Application Management, Network Management), By Software & Services (Software Solution, Services), By End-Use Industry (BFSI, Retail, Governments, Healthcare, Others) And Regional Forecast, 2019 2026Artificial Intelligence (AI) MarketSize, Share and Industry Analysis By Component (Hardware, Software, Services), By Technology (Computer Vision, Machine Learning, Natural Language Processing, Others), By Industry Vertical (BFSI, Healthcare, Manufacturing, Retail, IT & Telecom, Government, Others) and Regional Forecast, 2019-2026Blockchain Technology Market Size, Share and Industry Analysis by Product Type (Vertical Solutions, Blockchain-as-a-Service), Deployment, Industry Vertical (BFSI, Energy & Utilities, Government, Healthcare and Life Sciences, Manufacturing, Telecom, Media & Ent., Retail & Consumer Goods, Travel and Transportation), and Regional Forecast 2018-2025About Us:Fortune Business Insightsoffers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data. At Fortune Business Insights, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.Contact Us:Fortune Business Insights Pvt. Ltd.308, Supreme Headquarters,Survey No. 36, Baner,Pune-Bangalore Highway,Pune- 411045, Maharashtra,India.Phone:US: +1-424-253-0390UK: +44-2071-939123APAC: +91-744-740-1245Email:[emailprotected]Fortune Business InsightsLinkedIn|Twitter|BlogsRead Press Release:https://www.fortunebusinessinsights.com/press-release/cloud-computing-market-9843SOURCE Fortune Business Insights",
Chinese News:
4月30日，微软发布了2020年第三财季(即自然年2020年第一季度)财报。根据财报，微软第三财季营收达到350亿美元，同比去年的306亿美元增长15%；净利润108亿美元，同比增长22%；每股收益为1.4美元，同比增加23%。截至4月30日，微软股价为177.43美元每股，总市值为13495.41亿美元。按照部门划分，微软第三财季生产与业务流程营收117亿美元，同比增长15%，其中Office 365取得了25%的增长；智能云营收123亿美元，同比增长27%，其中服务器产品和云服务营收增长了30%；个人计算部门本季度营收为110亿美元，同比增长了3%，旗下Windows商业产品本季度同比增长17%，其余Surface、Xbox、搜索广告业务都获得了小幅增长.云计算业务成为该季度业绩的核心。微软CFO Amy Hood在财报中表示，“我们的销售团队和伙伴完成了扎实的第三财季，商业云服务营收为133亿美元，同比增长了39%。”同时，Azure云该季度营收增长59% 。在随后的财报电话会议中，微软CEO Satya Nadella表示，由于远程办公需求激增，市场对微软Teams、远程桌面和安全产品的需求增加，微软正在扩大远程办公类产品的规模以满足他们的需求。后期进入经济复苏阶段，会产生混合办公模式，该阶段微软的架构产品优势将显现。另一方面，微软云近期拿下多张大单。4月初，微软确认此前来自美国国防部的100亿美元云计算合约，并未出现非法问题。随后在4月28日，微软宣布与可口可乐达成一项五年期的合同，为可口可乐提供商业软件供应。微软在财报中表示，疫情对微软第三财季的营收影响并不大。微软部分产品的用户，因为疫情急剧增加。此前在接受第一财经采访时，微软公司副总裁兼中国区首席运营官邹作基表示，微软的远程会议App用户数量以及云服务业务正在快速增长。他表示，近期微软云计算服务的使用量增加了775%。此外，远程办公软件日活用户也不断增加。截至3月18日，Teams日活用户已增至4400万，相比3月11日一周内增加了1200万日活用户。微软曾在2月下旬下调了第三财季财务预期，认为受供应链恢复影响，其更多个人计算部门将不会达到此前预期。但从4月30日的财报看，更多个人计算部门仍然实现了增长。此外，2020年第三财季微软仍发生了一些人事变化，创始人比尔·盖茨在3月14日宣布退出公司董事会，结束了在微软的45年职业生涯。
Japanese News:
"米Microsoftが4月29日 (現地時間)に発表した同社2020年度第3四半期 (2020年1月〜3月)決算は売上高、純利益ともに1〜3月期の過去最高だった。Windows事業が減速したものの、在宅勤務や在宅学習の広がりによるクラウド事業やOfficeの伸びが全体をけん引。「全体ではCOVID-19が収益に与えた影響は最小にとどまった」としている。 CEOのSatya Nadella氏は3月期について「2年分に相当するデジタル変革が2カ月で起こるのを見た」と述べた。在宅勤務需要を追い風に、コラボレーションツール「Microsoft Teams」が3月にDAU (デイリーアクティブユーザー)を3200万人 (3月11日)、4400万人(3月18日)と急増させた。その伸びが4月も続いて7500万人を突破。4月にはミーティング参加者の合計が2億人を超える日があったという。在宅勤務や在宅学習からセールス、カスタマーサービスまで、あらゆるプロダクティビティのニーズがリモートへとシフトし、それに伴うクラウド基盤やセキュリティへの要求にもMicrosoftは応えている。 3月期の売上高は350億ドルで前年同期比15%増。純利益は同22%増の108億ドル、1株利益は1.40ドルだった。市場予想の平均は、売上高337億ドル、1株利益1.26ドルだった。以下は部門別の売上高。 売上高110億ドルで前年同期比3%増だった。Windows OEM Proが同5％増にとどまり、OEM non-Proは同10％減だった。Windows 7のサポート終了に備えた買い替えが落ち着いて減速が予想された中、在宅勤務や在宅学習で需要が増加したものの、新型コロナウイルスの影響を最も早く受けた中国のサプライチェーンが供給のボトルネックになった。一方で、Windows Commercial製品とクラウドサービスはMicrosoft 365の順調な伸びで同17％増だった。 他のカテゴリーは、Surfaceデバイスの売上高が前年同期比1%増だった。ゲーミングは同1％減。Xboxコンテンツおよびサービスは、前年同期にサードパーティ・タイトルが好調だったため同2％増にとどまったが、外出自粛要請で3月期にゲームで遊ぶ人が増加した。 売上高117億4000万ドルで前年同期比15%増だった。コマーシャル向けOffice製品/クラウドサービスの売上高が同13％増。Office 365のコマーシャルシート数が20％増加し、売上高が同25％増だった。コンシューマ向けOffice製品/クラウドサービスの売上高は同15％増。3月末時点のコンシューマ向けOffice 365の契約者数は3960万人、前期から240万人の増加だ。 売上高122億8000万ドルで前年同期比27%増だった。サーバー製品およびクラウドサービスの売上高は同30％増。Azureが同59％増、サーバー製品が同6％増だった。"
Spanish News:
"Microsoft ha presentado sus beneficios del tercer trimestre de su año fiscal este miércoles, y ha superado las expectativas de los analistas al presentar 35.000 millones de dólares en ingresos y 10.800 millones en beneficio neto. La compañía asegura que la crisis del coronavirus ha tenido un ""impacto neto mínimo"" en los ingresos. El uso de la nube ha aumentado durante la crisis, según Microsoft, a la vez que hubo una ""desaceleración en licencias, sobre todo en pequeña y mediana empresa, y una reducción de la facturación publicitaria en LinkedIn"". Las acciones subieron un 1% en las operaciones posteriores a los resultados, hasta los 179 dólares por acción en el momento en el que se escribían estas líneas. Microsoft presentó este miércoles los resultados del tercer trimestre de su año fiscal, justo después de que cerrara la bolsa. Los números han superado las expectativas de Wall Street, con lo que las operaciones fuera de hora registraron subidas en las acciones de un 1% hasta los 179 dólares. Esto es lo que ha detallado la compañía: Ingresos: 35.000 millones de dólares (32.100 millones de euros). Wall Street esperaba 33.660 millones de dólares. El mismo trimestre del año pasado registró 30.600 millones de dólares en ingresos. Beneficios: 1,40 dólares por acción. Los analistas estimaban 1,26 dólares por acción. Beneficio neto: 10.800 millones de dólares (9.920 millones de euros), un crecimiento del 22%. El negocio global de Microsoft en la nube —que incluye la plataforma cloud de Azure, Office 365 y otros servicios— registró 13.300 millones de dólares (12.200 millones de euros) en ventas este trimestre, un 39% más con respecto al mismo período del año anterior. La división que Microsoft conoce como More Personal Computing, que incluye Windows, su buscador, Xbox y Surface, ha registrado ventas por 11.000 millones de dólares (10.100 millones de euros), un 3% más que el año pasado. En febrero Microsoft rebajó sus previsiones para este segmento, advirtiendo los problemas con su cadena de suministros y la incertidumbre ""relacionada con la situación sanitaria en China"". Leer más: Microsoft va camino de convertirse en una de las grandes triunfadoras en tiempos de pandemia, pero también muestra dos señales de precaución a medida que la economía se aproxima a un futuro incierto A pesar de los problemas con la cadena de suministros, Microsoft asegura que los ingresos relacionados con dispositivos Windows y Surface se han beneficiado del aumento del teletrabajo. Su división gaming, Xbox, también ha disfrutado un empujón del 2% interanual. El negocio de la nube inteligente, que incluye Azure, servidores y productos empresariales en la nube también ha registrado un incremento del 27% interanual, con 12.300 millones de dólares en ventas (11.300 millones en euros). Los ingresos de Azure crecieron un 59% con respecto al mismo trimestre del año pasado, pero la compañía no ha publicado los datos de ingresos actuales de la plataforma. Los ingresos en el área de Procesos de Productividad y Negocios, que incluye los productos Office para negocios y clientes, LinkedIn y productos de Dynamics, aumentaron un 15% hasta los 11.700 millones de dólares (10.750 millones en euros). Leer más: El confinamiento nos vuelve más tecnológicos: un 40% de las ventas de Bankia en marzo ya son digitales y un 55% de los clientes utilizan estos canales a distancia La firma asegura que la crisis del coronavirus ha tenido un ""impacto neto mínimo"" en los ingresos de la compañía. El uso de la nube ha aumentado —especialmente en los paquetes de Microsoft 365 con aplicaciones como Teams, Azure, Windows Virtual Desktop, sus soluciones de seguridad avanzadas o Power Platform. Mientras tanto, Microsoft también ha admitido una desaceleración en licencias a pequeñas y medianas empresas, y una reducción en la inversión publicitaria en LinkedIn. El negocio de la compañía de Seattle permanece sólido en mitad de la pandemia, pero ya hay señales de que la firma ha adoptado una estrategia de precaución a medida que crece la incertidumbre sobre la economía global. La empresa ha experimentado un aumento sin precedentes del uso de sus plataformas para teletrabajo. Este incremento ha supuesto un desafío para la capacidad de Microsoft, que ha tenido dificultades para atender toda la demanda. En la presentación de sus resultados, Microsoft aseguró que ha aplazado los datos de ingresos concretos sobre su infraestructura cloud debido a las restricciones en su cadena de suministros. Conoce cómo trabajamos en BusinessInsider."
Greek News:
"Ισχυρές επιδόσεις κατέγραψε η Microsoft στο τρίτο τρίμηνο του οικονομικού έτους, επιβεβαιώνοντας τη σταθερή δυναμική της στον τομέα των υπηρεσιών cloud. Συγκεκριμένα, οι πωλήσεις της επιχείρησης στον τομέα υπηρεσιών cloud, στην οποία περιλαμβάνονται οι υπηρεσίες Microsoft Azure, Office 365 και άλλες cloud λύσεις, ανήλθαν στα 13,3 δισεκατομμύρια δολάρια, σημειώνοντας ετήσια αύξηση της τάξεως του 39%. Στο σύνολο των δραστηριοτήτων της εταιρείας, τα έσοδα ενισχύθηκαν κατά 4,5 δισεκατομμύρια δολάρια ή 15%, εξέλιξη που αποδίδεται στην ανάπτυξη όλων των επιμέρους επιχειρηματικών μονάδων. Το τμήμα Intelligent Cloud κατέγραψε ισχυρή άνοδο, κυρίως μέσω των προϊόντων παροχής server και της παροχής υπηρεσιών cloud. Παράλληλα, τα έσοδα από τις λύσεις παραγωγικότητας και επιχειρηματικών διαδικασιών ενισχύθηκαν λόγω της αυξημένης ζήτησης για Office και LinkedIn, ενώ αυξημένα ήταν και τα έσοδα από προσωπικούς υπολογιστές, κυρίως χάρη στο λογισμικό Windows. Το μικτό περιθώριο αυξήθηκε κατά 3,6 δισεκατομμύρια δολάρια ή 18%, αντικατοπτρίζοντας τη βελτίωση του κερδοφόρου μείγματος πωλήσεων και την ισχυρότερη απόδοση επιχειρηματικών μονάδων με υψηλότερα περιθώρια. Ειδικότερα, το ποσοστό μικτού περιθωρίου του εμπορικού cloud ενισχύθηκε κατά τέσσερις ποσοστιαίες μονάδες, φθάνοντας το 67%, κυρίως λόγω των επιδόσεων του Azure. Παράλληλα με την επιχειρηματική της ανάπτυξη, η Microsoft προχώρησε και σε μία χορηγία πολιτιστικού χαρακτήρα προς το Ελληνικό Δημόσιο. Πρόκειται για την υλοποίηση εφαρμογής ψηφιακής αναπαράστασης, με τη χρήση τεχνολογιών τρισδιάστατης απεικόνισης, των μνημείων στον αρχαιολογικό χώρο και το μουσείο της Αρχαίας Ολυμπίας. Το έργο αυτό, το οποίο δεν επιβαρύνει δημοσιονομικά την Ελλάδα, θα προσφέρει τη δυνατότητα εικονικής περιήγησης με τεχνολογία 3D μέσω διαδικτυακής πλατφόρμας που επίσης θα αναπτυχθεί από την εταιρεία."
Question:
What are the company's capital expenditures and their strategic significance from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | What are the company's capital expenditures and their strategic significance from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: None.
Financial Statements Evidence: In Q3 FY2020, Microsoft’s capital expenditures totaled $3.8B. |
MSFT_20200730 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 |
|:-------------------------------------------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|
| (In millions) | | | | | | | | |
| | | | | | | | | |
| | | | | | | | | |
| June 30, | | 2020 | | | 2019 | | | |
| | | | | | | | | |
| Assets | | | | | | | | |
| Current assets: | | | | | | | | |
| Cash and cash equivalents | | $ | 13,576 | | | $ | 11,356 | |
| Short-term investments | | | 122,951 | | | | 122,463 | |
| | | | | | | | | |
| | | | | | | | | |
| Total cash, cash equivalents, and short-term investments | | | 136,527 | | | | 133,819 | |
| Accounts receivable, net of allowance for doubtful accounts of$788and $411 | | | 32,011 | | | | 29,524 | |
| Inventories | | | 1,895 | | | | 2,063 | |
| Other current assets | | | 11,482 | | | | 10,146 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current assets | | | 181,915 | | | | 175,552 | |
| Property and equipment, net of accumulated depreciation of$43,197and $35,330 | | | 44,151 | | | | 36,477 | |
| Operating lease right-of-use assets | | | 8,753 | | | | 7,379 | |
| Equity investments | | | 2,965 | | | | 2,649 | |
| Goodwill | | | 43,351 | | | | 42,026 | |
| Intangible assets, net | | | 7,038 | | | | 7,750 | |
| Other long-term assets | | | 13,138 | | | | 14,723 | |
| | | | | | | | | |
| | | | | | | | | |
| Total assets | | $ | 301,311 | | | $ | 286,556 | |
| | | | | | | | | |
| | | | | | | | | |
| Liabilities and stockholders’ equity | | | | | | | | |
| Current liabilities: | | | | | | | | |
| Accounts payable | | $ | 12,530 | | | $ | 9,382 | |
| Current portion of long-term debt | | | 3,749 | | | | 5,516 | |
| Accrued compensation | | | 7,874 | | | | 6,830 | |
| Short-term income taxes | | | 2,130 | | | | 5,665 | |
| Short-term unearned revenue | | | 36,000 | | | | 32,676 | |
| Other current liabilities | | | 10,027 | | | | 9,351 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current liabilities | | | 72,310 | | | | 69,420 | |
| Long-term debt | | | 59,578 | | | | 66,662 | |
| Long-term income taxes | | | 29,432 | | | | 29,612 | |
| Long-term unearned revenue | | | 3,180 | | | | 4,530 | |
| Deferred income taxes | | | 204 | | | | 233 | |
| Operating lease liabilities | | | 7,671 | | | | 6,188 | |
| Other long-term liabilities | | | 10,632 | | | | 7,581 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities | | | 183,007 | | | | 184,226 | |
| | | | | | | | | |
| | | | | | | | | |
| Commitments and contingencies | | | | | | | | |
| Stockholders’ equity: | | | | | | | | |
| Common stock and paid-in capital – shares authorized24,000; outstanding7,571and7,643 | | | 80,552 | | | | 78,520 | |
| Retained earnings | | | 34,566 | | | | 24,150 | |
| Accumulated other comprehensive income (loss) | | | 3,186 | | | | (340 | ) |
| | | | | | | | | |
| | | | | | | | | |
| Total stockholders’ equity | | | 118,304 | | | | 102,330 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities and stockholders’ equity | | $ | 301,311 | | | $ | 286,556 | |
| | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 |
|:---------------------------------------------------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|
| (In millions) | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Year Ended June 30, | | 2020 | | | 2019 | | | 2018 | | | | |
| | | | | | | | | | | | | |
| Operations | | | | | | | | | | | | |
| Net income | | $ | 44,281 | | | $ | 39,240 | | | $ | 16,571 | |
| Adjustments to reconcile net income to net cash from operations: | | | | | | | | | | | | |
| Depreciation, amortization, and other | | | 12,796 | | | | 11,682 | | | | 10,261 | |
| Stock-based compensation expense | | | 5,289 | | | | 4,652 | | | | 3,940 | |
| Net recognized gains on investments and derivatives | | | (219 | ) | | | (792 | ) | | | (2,212 | ) |
| Deferred income taxes | | | 11 | | | | (6,463 | ) | | | (5,143 | ) |
| Changes in operating assets and liabilities: | | | | | | | | | | | | |
| Accounts receivable | | | (2,577 | ) | | | (2,812 | ) | | | (3,862 | ) |
| Inventories | | | 168 | | | | 597 | | | | (465 | ) |
| Other current assets | | | (2,330 | ) | | | (1,718 | ) | | | (952 | ) |
| Other long-term assets | | | (1,037 | ) | | | (1,834 | ) | | | (285 | ) |
| Accounts payable | | | 3,018 | | | | 232 | | | | 1,148 | |
| Unearned revenue | | | 2,212 | | | | 4,462 | | | | 5,922 | |
| Income taxes | | | (3,631 | ) | | | 2,929 | | | | 18,183 | |
| Other current liabilities | | | 1,346 | | | | 1,419 | | | | 798 | |
| Other long-term liabilities | | | 1,348 | | | | 591 | | | | (20 | ) |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Net cash from operations | | | 60,675 | | | | 52,185 | | | | 43,884 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Financing | | | | | | | | | | | | |
| Repayments of short-term debt, maturities of 90 days or less, net | | | 0 | | | | 0 | | | | (7,324 | ) |
| Proceeds from issuance of debt | | | 0 | | | | 0 | | | | 7,183 | |
| Cash premium on debt exchange | | | (3,417 | ) | | | 0 | | | | 0 | |
| Repayments of debt | | | (5,518 | ) | | | (4,000 | ) | | | (10,060 | ) |
| Common stock issued | | | 1,343 | | | | 1,142 | | | | 1,002 | |
| Common stock repurchased | | | (22,968 | ) | | | (19,543 | ) | | | (10,721 | ) |
| Common stock cash dividends paid | | | (15,137 | ) | | | (13,811 | ) | | | (12,699 | ) |
| Other, net | | | (334 | ) | | | (675 | ) | | | (971 | ) |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Net cash used in financing | | | (46,031 | ) | | | (36,887 | ) | | | (33,590 | ) |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Investing | | | | | | | | | | | | |
| Additions to property and equipment | | | (15,441 | ) | | | (13,925 | ) | | | (11,632 | ) |
| Acquisition of companies, net of cash acquired, and purchases of intangible and other assets | | | (2,521 | ) | | | (2,388 | ) | | | (888 | ) |
| Purchases of investments | | | (77,190 | ) | | | (57,697 | ) | | | (137,380 | ) |
| Maturities of investments | | | 66,449 | | | | 20,043 | | | | 26,360 | |
| Sales of investments | | | 17,721 | | | | 38,194 | | | | 117,577 | |
| Other, net | | | (1,241 | ) | | | 0 | | | | (98 | ) |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Net cash used in investing | | | (12,223 | ) | | | (15,773 | ) | | | (6,061 | ) |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Effect of foreign exchange rates on cash and cash equivalents | | | (201 | ) | | | (115 | ) | | | 50 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Net change in cash and cash equivalents | | | 2,220 | | | | (590 | ) | | | 4,283 | |
| Cash and cash equivalents, beginning of period | | | 11,356 | | | | 11,946 | | | | 7,663 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Cash and cash equivalents, end of period | | $ | 13,576 | | | $ | 11,356 | | | $ | 11,946 | |
| | | | | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 |
|:----------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|
| (In millions, except per share amounts) | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Year Ended June 30, | | 2020 | | | 2019 | | | 2018 | | | | |
| | | | | | | | | | | | | |
| Revenue: | | | | | | | | | | | | |
| Product | | $ | 68,041 | | | $ | 66,069 | | | $ | 64,497 | |
| Service and other | | | 74,974 | | | | 59,774 | | | | 45,863 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Total revenue | | | 143,015 | | | | 125,843 | | | | 110,360 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Cost of revenue: | | | | | | | | | | | | |
| Product | | | 16,017 | | | | 16,273 | | | | 15,420 | |
| Service and other | | | 30,061 | | | | 26,637 | | | | 22,933 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Total cost of revenue | | | 46,078 | | | | 42,910 | | | | 38,353 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Gross margin | | | 96,937 | | | | 82,933 | | | | 72,007 | |
| Research and development | | | 19,269 | | | | 16,876 | | | | 14,726 | |
| Sales and marketing | | | 19,598 | | | | 18,213 | | | | 17,469 | |
| General and administrative | | | 5,111 | | | | 4,885 | | | | 4,754 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Operating income | | | 52,959 | | | | 42,959 | | | | 35,058 | |
| Other income, net | | | 77 | | | | 729 | | | | 1,416 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Income before income taxes | | | 53,036 | | | | 43,688 | | | | 36,474 | |
| Provision for income taxes | | | 8,755 | | | | 4,448 | | | | 19,903 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Net income | | $ | 44,281 | | | $ | 39,240 | | | $ | 16,571 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Earnings per share: | | | | | | | | | | | | |
| Basic | | $ | 5.82 | | | $ | 5.11 | | | $ | 2.15 | |
| Diluted | | $ | 5.76 | | | $ | 5.06 | | | $ | 2.13 | |
| | | | | | | | | | | | | |
| Weighted average shares outstanding: | | | | | | | | | | | | |
| Basic | | | 7,610 | | | | 7,673 | | | | 7,700 | |
| Diluted | | | 7,683 | | | | 7,753 | | | | 7,794 | |
| | | | | | | | | | | | | |
---
English News:
Technology and Enterprise Leaders Combine Efforts to Improve Open Source Security New collaboration called Open Source Security Foundation (OpenSSF) consolidates industry efforts to improve the security of open source software - SAN FRANCISCO, Aug. 3, 2020 /PRNewswire/ --The Linux Foundation, today announced the formation of the Open Source Security Foundation (OpenSSF). The OpenSSF is a cross-industry collaboration that brings together leaders to improve the security of open source software (OSS) by building a broader community with targeted initiatives and best practices. It combines efforts from the Core Infrastructure Initiative, GitHub's Open Source Security Coalition and other open source security work from founding governing board members GitHub, Google, IBM, JPMorgan Chase, Microsoft, NCC Group, OWASP Foundation and Red Hat, among others. Additional founding members include ElevenPaths, GitLab, HackerOne, Intel, Okta, Purdue, SAFECode, StackHawk, Trail of Bits, Uber and VMware. Open source software has become pervasive in data centers, consumer devices and services, representing its value among technologists and businesses alike. Because of its development process, open source that ultimately reaches end users has a chain of contributors and dependencies. It is important that those responsible for their user or organization's security are able to understand and verify the security of this dependency chain. The OpenSSF brings together the industry's most important open source security initiatives and the individuals and companies that support them. The Linux Foundation's Core Infrastructure Initiative (CII), founded in response to the 2014 Heartbleed bug, and the Open Source Security Coalition, founded by the GitHub Security Lab, are just a couple of the projects that will be brought together under the new OpenSSF. The Foundation's governance, technical community and its decisions will be transparent, and any specifications and projects developed will be vendor agnostic. The OpenSSF is committed to collaboration and working both upstream and with existing communities to advance open source security for all. \We believe open source is a public good and across every industry we have a responsibility to come together to improve and support the security of open source software we all depend on," said Jim Zemlin, executive director at The Linux Foundation. "Ensuring open source security is one of the most important things we can do, and it requires all of us around the world to assist in the effort. The OpenSSF will provide that forum for a truly collaborative, cross-industry effort." With the formalization of the group, the open governance structure is established and includes a Governing Board (GB), a Technical Advisory Council (TAC) and a separate oversight for each working group and project. OpenSSF intends to host a variety of open source technical initiativesto support security for the world's most critical open source software, all of which will be done in the open on GitHub. For more information and to contribute to the project, please visit https://openssf.org ResourcesThreats, Risks & Mitigations of the Open Source Ecosystem, Open Source Security CoalitionVulnerabilities in the Core, Harvard's Lab for Innovation Science and Linux FoundationRed Hat Product Security Risk Report, Red Hat Governing Board Member QuotesGitHub"Every industry is using open source software, and it is our collective responsibility to help maintain a healthy and secure ecosystem," said Jamie Cool, Vice President of Product Management, Security at GitHub. "GitHub founded the Open Source Security Coalition in 2019 to bring together industry leaders around this mission and ensure the consumption of open source software is something that all developers can do with confidence. We look forward to this next step in the evolution of the coalition and serving as a founding member of the Open Source Security Foundation." Read more in GitHub's blog. Google"Security is always top of mind for Google and our users. We have developed robust internal security tools and systems for consuming open source software internally, for our users, and for our OSS-based products. We believe in building safer products for everyone with far-reaching impacts, and we are excited to work with the broader community through the OpenSSF. We look forward to sharing our innovations and working together to improve the security of open source software we all depend on," said Director of Product Security, Google Cloud, James Higgins. IBM"Open source has become mainstream in the enterprise. As such, the security of the open source supply-chain is of paramount importance to IBM and our clients," said Christopher Ferris, IBM Fellow and CTO Open Technology. "The launch of the Open Source Security Foundation marks an important step towards giving open source communities the information and tools they need to improve their secure engineering practices, and the information developers need to choose their open source wisely." JPMorgan Chase"Developing, growing and using open source software is a top priority for JPMorgan Chase. We are committed to partner with the community through the Open Source Security Foundation to ensure trust and security in open source software for everyone," stated Lori Beer, Global Chief Information Officer, JPMorgan Chase. Microsoft"As open source is now core to nearly every company's technology strategy, securing open source software is an essential part of securing the supply chain for every company, including our own," said Mark Russinovich, Chief Technology Officer, Microsoft Azure. "As with everything open source, building better security is a community-driven process. All of us at Microsoft are excited to be a founding member of the Open Source Security Foundation and we look forward to partnering with the community to create new security solutions that will help us all." Read more in Microsoft's blog. NCC Group"The security and privacy of the internet is essential for the protection of individuals, organizations and critical infrastructure, and also the future of democracy and our civil liberties. Given the fundamental role open source plays in powering our world, creating scalable resources and tools to help software maintainers, developers, and users understand and improve their projects' security is a significant step toward a safer and more secure world. By bringing together a dedicated group of technologists with a shared desire to improve the security of open source software, together we can begin to remediate - or even prevent - security vulnerabilities at a scale not previously possible," stated Jennifer Fernick, Head of Research at global cyber security expert NCC Group." OWASP"Joining the Linux Foundation and the Open Source Security Foundation is central to our mission to advance the state of application security, especially as OpenSSF is already aligned with OWASP's core philosophies of openness, transparency and innovation," said Andrew van der Stock, Executive Director of OWASP, the Open Web Application Security Project. "We look forward to working with all of the participating organizations to improve the state of software security and work together on projects of vital interest to software developers, organizations, and governments around the world." Red Hat"Red Hat is unrelenting in our commitment to open source and in participating to make upstream projects successful. We believe security is an essential part of healthy project communities," said Chris Wright, CTO of Red Hat. "Now, more than ever, is the time for us to join together with other leaders to help ensure key projects are secure and consumable in our products, across enterprises, and as part of the hybrid cloud. We are excited to help found this Open Source Software Foundation." Additional Founding Member QuotesElevenPaths"The security of an enterprise application or services depends mainly on the security of all its components. The vast majority of business applications and services are not fully developed in-house as they make use of open source components that help accelerate the development cycle and extend their functionality. Therefore, it is essential to ensure that all open source components comply with the best practices of secure development and periodic reviews are carried out to positively impact all software that makes use of these components. Joining the Open Source Security Foundation is fully aligned with our vision and principles." GitLab"GitLab is excited to play a part in the creation of the Open Source Security Foundation (OpenSSF) to further cross-industry collaboration and move the security of open source projects forward as it is key to the future of technology," said David DeSanto, director of product for Secure and Defend at GitLab. "Aligning with GitLab's mission of 'everyone can contribute,' we look forward to supporting and contributing to the community to bring together security-conscious developers to change open source development in a collaborative and fundamental way." HackerOne"Open source software powers HackerOne," said Reed Loden, Head of Open Source Security, HackerOne. "It powers our software, our infrastructure, and our model for engaging with our community. As part of our mission to make the internet safer, we want to make it easier for open source projects to remain secure. For over three years, we've given the open source community our platform for free, and we've been long-time supporters of initiatives like Internet Bug Bounty. Joining the Linux Foundation and the Open Source Security Foundation allows us to continue on our mission and make the internet safer alongside some of the foremost visionaries in security. We look forward to seeing the change we can make together." Intel"It takes the industry working together to advance technology and accelerate open source security initiatives. Hardware and software are inextricably linked to deliver security, transparency and trust in open source software. Together with the OpenSSF, Intel will continue to play a key role in mobilizing the industry at large and solving security challenges from the cloud to the edge," said Anand Pashupathy, GM of System Security Software, Intel. SAFECode"Open source software is a major component in today's software supply chain and thus comprises a significant fraction of the software that individuals and organizations rely upon. Supporting the secure development of open source software is of critical importance to SAFECode members and the software community," said Steve Lipner, executive director of SAFECode. "We are looking forward to bringing our software security experience to bear as we participate in the Open Source Security Foundation's mission to build a collaborative, cross-industry community to support the security of open source software." StackHawk"The use of open source has undoubtedly reached critical mass, with ever increasing dependency trees and software complexity. Equipping engineering teams to deliver secure applications simply and scalably is core to our mission at StackHawk. We are excited to be one of the founding members of the Open Source Security Foundation to ensure that this can be a reality across software development as a whole and look forward to continued partnership with the community," said StackHawk's Founder & CEO, Joni Klippert. Uber"Security and Privacy is always top of mind at Uber to ensure we are responsible stewards of our user's data. We're always focused on mitigating all types of software vulnerabilities and as such the security of open source software is a top priority. Historically, we've worked with other industry leaders to help build a strong security community around open source software and we are excited to expand those efforts with the OpenSSF," said Rob Fletcher, Sr Manager, Security Engineering. VMware"Strengthening the security posture, policies, and processes in the open source community and in widely used open source projects is strengthening the whole software ecosystem - for all players," said Joshua Lock, security tech lead, Open Source Technology Center, VMware. "VMware strongly supports the goal of making our software ecosystem more resilient and more secure." About the Linux FoundationFounded in 2000, the Linux Foundation is supported by more than 1,000 members and is the world's leading home for collaboration on open source software, open standards, open data, and open hardware. Linux Foundation's projects are critical to the world's infrastructure including Linux, Kubernetes, Node.js, and more. The Linux Foundation's methodology focuses on leveraging best practices and addressing the needs of contributors, users and solution providers to create sustainable models for open collaboration. For more information, please visit us at linuxfoundation.org. The Linux Foundation has registered trademarks and uses trademarks. For a list of trademarks of The Linux Foundation, please see our trademark usage page: https://www.linuxfoundation.org/trademark-usage. Linux is a registered trademark of Linus Torvalds. Media ContactJennifer CloerreTHINKit Media503-867-2304[emailprotected] SOURCE The Linux Foundation Related Links www.linuxfoundation.org",
Chinese News:
北京时间8月3日早上，微软官方发表声明称，将继续讨论收购TikTok美国业务的事宜。这份声明显示，微软不单要收购TikTok美国业务，还包括“在加拿大、澳大利亚和新西兰购买TikTok服务”，相关谈判最迟在9月15日完成。收购涉及四个地区的TikTok服务 微软公司的声明称，将继续寻求收购TikTok在美业务的可能，这是微软首席执行官萨蒂亚纳德拉和美国总统特朗普讨论后作出的决定。微软将在几周内迅速与TikTok的母公司字节跳动展开谈判，并且，相关谈判最迟将在2020年9月15日完成。声明称，与字节跳动的谈判将以微软和字节跳动向美国外国投资委员会(CFIUS)发出的通知为基础。目前两家公司已经形成了一个初步的设想，包括在美国、加拿大、澳大利亚和新西兰购买TikTok服务，最终将使得微软在这些市场拥有和运营TikTok。此外，微软可能会邀请其他美国投资者以少数股权参与此次收购。微软表示，将确保TikTok美国用户的数据储存于美国境内，并删除储存在其他地方的美国数据。公司补充道，微软将继续与美国政府和美国总统特朗普保持沟通，针对特朗普的意见作出回应。微软的“社交”恐惧？截至记者发稿时，美股盘前微软涨幅为1.78%，盘前股价为208.65美元。截至美股上周五收盘，微软总市值为1.55万亿美元。7月底，微软发布了2020财年第四财季及全年财报。报告显示，微软第四财季营收为380.33亿美元，同比增长13%；净利润为112.02亿美元，同比下降15%。其中，云业务、游戏等贡献巨大，在疫情期间获得较大增长。但旗下职业社交网站Linkedln的业务却受到冲击。实际上，微软对互联网社交业务的运营能力一直备受质疑。微软曾经的即时通信工具MSN Messenger，对于众多中国用户来说并不陌生。公开资料显示，MSN Messenger在1999年7月正式上线，到2001年3月该业务在全世界范围就达到了3000万在线用户，2005年5月正式进入中国市场。然而，好景不长。随着各大互联网公司陆续推出不同类型的社交工具，MSN的市场逐渐被蚕食。尤其智能手机普及后，使用MSN的用户更少。2013年微软宣布，关闭全球范围除了中国市场外的MSN。不过，一年后，中国MSN亦正式关闭，所有用户可以转向早先微软收购的Skype。目前Skype的普及程度也“肉眼可见”的不高。业内分析指，微软本身是一家软件公司，讲求自身平台的整合性和技术，并非以应用和场景为导向。
Japanese News:
"米Microsoftが7月22日（現地時間）に発表した第4四半期（2020年4～6月期）の決算は、売上高は13％増の380億ドル、純利益は15％減の108億ドル（1株当たり1ドル46セント）だった。コロナ禍による“巣ごもり需要”で、XboxとSurfaceが好調だった。 売上高、純利益ともにアナリスト予測（売上高は365億ドル、1株当たりの純利益は1ドル34セント）を上回った。 新型コロナウイルス感染症対策でユーザーが自宅で仕事や学習をする状態が続くにつれてクラウドの需要が増加し、WindowsのOEM、Surface、ゲーム事業の需要が伸びたが、中小企業のライセンス契約が鈍化し、傘下のLinkedInは雇用市場の鈍化と広告の減少によって悪影響を受けたと説明した。 サティア・ナデラCEOは発表文で「（コロナ禍の）過去5カ月で、テクノロジーの強度がビジネス回復力の鍵であることが明らかになった。デジタル化を確立している企業ほど、この危機から早く確実に脱出できるだろう。Microsoftは統合された最新テクノロジーを備える唯一の企業として、企業が顧客ニーズへの対応を再考するのを支援していく」と語った。 Azureやサーバー製品を担うIntelligent Cloud部門全体の売上高は17％増の133億7000万ドルだった。Azureの売上高は47％増。前期は59％増だった。 OfficeやLinkedIn、Dynamicsを扱うProductivity and Business Processes部門の売上高は6％増の117億5000万ドルだった。企業向けOffice 365の売上高は19％増、コンシューマー向けOffice 365のサブスクリプション数は23％増の4270万人だった。クラウドではない方のOfficeの売上高は34％減だった。LinkedInの売上高は10％増。LinkedInは21日、960人のリストラを発表した。 Windows、ハードウェア、Xbox、検索のMore Personal Computing部門の売上高は14％増の129億1000万ドルだった。Xboxのコンテンツとサービスの売上高が65％増と好調。Surfaceも28％増だった。検索（Bing）の売上高は広告減少で18％減。また、すべてのMicrosoft Storeの実店舗を閉鎖したため、営業コストが10％増加した。"
Spanish News:
"La multinacional estadounidense de software y servicios informáticos Microsoft anunció este miércoles unos beneficios netos de 44.281 millones de dólares en el conjunto de su ejercicio 2020, un 13 % más que en el mismo periodo del año pasado, impulsado por la nube inteligente y pese al cierre de sus tiendas por el Covid-19. El gigante tecnológico dirigido por el ejecutivo Satya Nadella facturó 143.015 millones de dólares en los últimos 12 meses, lo que representa casi un 14 % más que en el ejercicio 2019, y los accionistas se embolsaron 5,76 dólares por acción, frente a los 5,06 de hace un año. Microsoft señaló que su negocio en la nube ha superado los 50.000 millones de dólares en ingresos anuales por primera vez en la historia, a lo que Nadella agregó al dar cuenta de los resultados que «las organizaciones que creen su propia capacidad digital se recuperarán más rápido y saldrán reforzados de la crisis». En cuanto al cuarto trimestre de 2020, el más seguido por los analistas de Wall Street, la compañía obtuvo unas ganancias de 11.202 millones de dólares, un 15 % menos que en el mismo periodo del ejercicio anterior, tras registrar un cargo de 450 millones por el cierre de todas sus tiendas físicas. Por su parte, las ventas entre abril y junio ascendieron a 38.033 millones de dólares, lo que representa casi un 13 % más que en ese tramo 2019, mientras los accionistas se embolsaron 1,46 dólares por acción , frente a los 1,71 de hace un año. Microsoft señaló los buenos resultados de su negocios de Productividad, Procesos de Negocio y Nube Inteligente en este último trimestre ya que «los clientes han seguido trabajando y aprendiendo en casa» debido a la pandemia y eso ha generado un mayor uso y demanda de sus sistemas y productos . En concreto, el segmento de la Nube Inteligente ha tenido la mayor recaudación de su cartera este 2020, con unas ventas de 48.366 millones de dólares (un 24 % más interanual), y solo en este último trimestre la plataforma Azure aumentó su facturación un 47 % , una cifra notable aunque con signos de desaceleración respecto al periodo previo. Le siguió de cerca el segmento de Computación Personal, con 48.251 millones (casi un 6 % más), que se benefició de una mayor demanda en las áreas de Windows, Surface y Gaming ; y el de Productividad y Procesos de Negocio, con 46.398 millones (casi un 13 % más), impulsado por el paquete Office 365. Los resultados de Microsoft fueron divulgados al cierre de la Bolsa de Nueva York y en las operaciones electrónicas sus acciones caían casi un 3 % , pese a superar las expectativas de los analistas. Desde el comienzo de 2020, Microsoft se ha revalorizado más del 34 % en bolsa y su capitalización de mercado llega a 1,58 billones de dólares , una de las más grandes por detrás de Apple."
Greek News:
"Η Microsoft εντείνει τις επενδύσεις της στην καινοτομία και την ασφάλεια, ενισχύοντας τη θέση της σαν εταιρία κολοσσός στον τεχνολογικό κλάδο. Στο πλαίσιο αυτό, ανακοίνωσε την αύξηση της μέγιστης επιβράβευσης στο πρόγραμμα ""bug bounty"" για το Windows Insider Preview στα 100.000 δολάρια. Η κίνηση αυτή συνοδεύεται από τη διευκόλυνση της διαδικασίας υποβολής ευρημάτων για ερευνητές ασφαλείας που εντοπίζουν ευπάθειες σε βασικά προϊόντα όπως ο Microsoft Edge, το Windows Defender Application Guard, το Hyper-V και τις τεχνολογίες Mitigation Bypass. Παράλληλα, η εταιρεία κατέγραψε αύξηση κατά 14% στις δαπάνες για έρευνα και ανάπτυξη το οικονομικό έτος 2020, φτάνοντας τα 2,4 δισεκατομμύρια δολάρια περισσότερα σε σχέση με το 2019. Η ενίσχυση αυτή αποδίδεται κυρίως σε στρατηγικές επενδύσεις σε τομείς όπως το cloud engineering, το LinkedIn, τις ηλεκτρονικές συσκευές και τα βιντεοπαιχνίδια. Στις 28 Ιουλίου 2020, η Microsoft προχώρησε και σε νέα στρατηγική συνεργασία με τη Mastercard, με στόχο την επιτάχυνση της καινοτομίας στο ψηφιακό εμπόριο και την υποστήριξη των υπηρεσιών cloud. Μέσω της αξιοποίησης τεχνολογιών AI αλλά και της υπηρεσίας Azure, η συνεργασία στοχεύει στην καινοτομία, κυρίως στον κλάδο του fintech αλλά και τον κλάδο του digital commerce. Η πολυδιάστατη στρατηγική της Microsoft αποτυπώνει μια σαφή στροφή προς την ενίσχυση της τεχνολογικής υπεροχής που έχει επιδείξει τα τελευταία χρόνια αλλά και της ψηφιακής ασφάλειας, εδραιώνοντας την επιρροή της σε κρίσιμους τομείς της ψηφιακής οικονομίας."
Question:
Please list the top three focuses on revenue from news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | Please list the top three focuses on revenue from news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: The top three revenue focuses from the news are: 1) Cloud services, with Azure growing 47% in Q4 and the Intelligent Cloud segment reaching over $50 billion in annual revenue; 2) Gaming and Xbox, with content and services revenue up 65% in Q4; 3) Surface hardware, which grew 28% in Q4.
Financial Statement Evidence: Total revenue: $143,015M in 2020, $125,843M in 2019, $110,360M in 2018. Product revenue: $68,041M in 2020, $66,069M in 2019, $64,497M in 2018. Service and other revenue: $74,974M in 2020, $59,774M in 2019, $45,863M in 2018. |
MSFT_20200730 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 |
|:-------------------------------------------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|
| (In millions) | | | | | | | | |
| | | | | | | | | |
| | | | | | | | | |
| June 30, | | 2020 | | | 2019 | | | |
| | | | | | | | | |
| Assets | | | | | | | | |
| Current assets: | | | | | | | | |
| Cash and cash equivalents | | $ | 13,576 | | | $ | 11,356 | |
| Short-term investments | | | 122,951 | | | | 122,463 | |
| | | | | | | | | |
| | | | | | | | | |
| Total cash, cash equivalents, and short-term investments | | | 136,527 | | | | 133,819 | |
| Accounts receivable, net of allowance for doubtful accounts of$788and $411 | | | 32,011 | | | | 29,524 | |
| Inventories | | | 1,895 | | | | 2,063 | |
| Other current assets | | | 11,482 | | | | 10,146 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current assets | | | 181,915 | | | | 175,552 | |
| Property and equipment, net of accumulated depreciation of$43,197and $35,330 | | | 44,151 | | | | 36,477 | |
| Operating lease right-of-use assets | | | 8,753 | | | | 7,379 | |
| Equity investments | | | 2,965 | | | | 2,649 | |
| Goodwill | | | 43,351 | | | | 42,026 | |
| Intangible assets, net | | | 7,038 | | | | 7,750 | |
| Other long-term assets | | | 13,138 | | | | 14,723 | |
| | | | | | | | | |
| | | | | | | | | |
| Total assets | | $ | 301,311 | | | $ | 286,556 | |
| | | | | | | | | |
| | | | | | | | | |
| Liabilities and stockholders’ equity | | | | | | | | |
| Current liabilities: | | | | | | | | |
| Accounts payable | | $ | 12,530 | | | $ | 9,382 | |
| Current portion of long-term debt | | | 3,749 | | | | 5,516 | |
| Accrued compensation | | | 7,874 | | | | 6,830 | |
| Short-term income taxes | | | 2,130 | | | | 5,665 | |
| Short-term unearned revenue | | | 36,000 | | | | 32,676 | |
| Other current liabilities | | | 10,027 | | | | 9,351 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current liabilities | | | 72,310 | | | | 69,420 | |
| Long-term debt | | | 59,578 | | | | 66,662 | |
| Long-term income taxes | | | 29,432 | | | | 29,612 | |
| Long-term unearned revenue | | | 3,180 | | | | 4,530 | |
| Deferred income taxes | | | 204 | | | | 233 | |
| Operating lease liabilities | | | 7,671 | | | | 6,188 | |
| Other long-term liabilities | | | 10,632 | | | | 7,581 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities | | | 183,007 | | | | 184,226 | |
| | | | | | | | | |
| | | | | | | | | |
| Commitments and contingencies | | | | | | | | |
| Stockholders’ equity: | | | | | | | | |
| Common stock and paid-in capital – shares authorized24,000; outstanding7,571and7,643 | | | 80,552 | | | | 78,520 | |
| Retained earnings | | | 34,566 | | | | 24,150 | |
| Accumulated other comprehensive income (loss) | | | 3,186 | | | | (340 | ) |
| | | | | | | | | |
| | | | | | | | | |
| Total stockholders’ equity | | | 118,304 | | | | 102,330 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities and stockholders’ equity | | $ | 301,311 | | | $ | 286,556 | |
| | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 |
|:---------------------------------------------------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|
| (In millions) | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Year Ended June 30, | | 2020 | | | 2019 | | | 2018 | | | | |
| | | | | | | | | | | | | |
| Operations | | | | | | | | | | | | |
| Net income | | $ | 44,281 | | | $ | 39,240 | | | $ | 16,571 | |
| Adjustments to reconcile net income to net cash from operations: | | | | | | | | | | | | |
| Depreciation, amortization, and other | | | 12,796 | | | | 11,682 | | | | 10,261 | |
| Stock-based compensation expense | | | 5,289 | | | | 4,652 | | | | 3,940 | |
| Net recognized gains on investments and derivatives | | | (219 | ) | | | (792 | ) | | | (2,212 | ) |
| Deferred income taxes | | | 11 | | | | (6,463 | ) | | | (5,143 | ) |
| Changes in operating assets and liabilities: | | | | | | | | | | | | |
| Accounts receivable | | | (2,577 | ) | | | (2,812 | ) | | | (3,862 | ) |
| Inventories | | | 168 | | | | 597 | | | | (465 | ) |
| Other current assets | | | (2,330 | ) | | | (1,718 | ) | | | (952 | ) |
| Other long-term assets | | | (1,037 | ) | | | (1,834 | ) | | | (285 | ) |
| Accounts payable | | | 3,018 | | | | 232 | | | | 1,148 | |
| Unearned revenue | | | 2,212 | | | | 4,462 | | | | 5,922 | |
| Income taxes | | | (3,631 | ) | | | 2,929 | | | | 18,183 | |
| Other current liabilities | | | 1,346 | | | | 1,419 | | | | 798 | |
| Other long-term liabilities | | | 1,348 | | | | 591 | | | | (20 | ) |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Net cash from operations | | | 60,675 | | | | 52,185 | | | | 43,884 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Financing | | | | | | | | | | | | |
| Repayments of short-term debt, maturities of 90 days or less, net | | | 0 | | | | 0 | | | | (7,324 | ) |
| Proceeds from issuance of debt | | | 0 | | | | 0 | | | | 7,183 | |
| Cash premium on debt exchange | | | (3,417 | ) | | | 0 | | | | 0 | |
| Repayments of debt | | | (5,518 | ) | | | (4,000 | ) | | | (10,060 | ) |
| Common stock issued | | | 1,343 | | | | 1,142 | | | | 1,002 | |
| Common stock repurchased | | | (22,968 | ) | | | (19,543 | ) | | | (10,721 | ) |
| Common stock cash dividends paid | | | (15,137 | ) | | | (13,811 | ) | | | (12,699 | ) |
| Other, net | | | (334 | ) | | | (675 | ) | | | (971 | ) |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Net cash used in financing | | | (46,031 | ) | | | (36,887 | ) | | | (33,590 | ) |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Investing | | | | | | | | | | | | |
| Additions to property and equipment | | | (15,441 | ) | | | (13,925 | ) | | | (11,632 | ) |
| Acquisition of companies, net of cash acquired, and purchases of intangible and other assets | | | (2,521 | ) | | | (2,388 | ) | | | (888 | ) |
| Purchases of investments | | | (77,190 | ) | | | (57,697 | ) | | | (137,380 | ) |
| Maturities of investments | | | 66,449 | | | | 20,043 | | | | 26,360 | |
| Sales of investments | | | 17,721 | | | | 38,194 | | | | 117,577 | |
| Other, net | | | (1,241 | ) | | | 0 | | | | (98 | ) |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Net cash used in investing | | | (12,223 | ) | | | (15,773 | ) | | | (6,061 | ) |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Effect of foreign exchange rates on cash and cash equivalents | | | (201 | ) | | | (115 | ) | | | 50 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Net change in cash and cash equivalents | | | 2,220 | | | | (590 | ) | | | 4,283 | |
| Cash and cash equivalents, beginning of period | | | 11,356 | | | | 11,946 | | | | 7,663 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Cash and cash equivalents, end of period | | $ | 13,576 | | | $ | 11,356 | | | $ | 11,946 | |
| | | | | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 |
|:----------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|
| (In millions, except per share amounts) | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Year Ended June 30, | | 2020 | | | 2019 | | | 2018 | | | | |
| | | | | | | | | | | | | |
| Revenue: | | | | | | | | | | | | |
| Product | | $ | 68,041 | | | $ | 66,069 | | | $ | 64,497 | |
| Service and other | | | 74,974 | | | | 59,774 | | | | 45,863 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Total revenue | | | 143,015 | | | | 125,843 | | | | 110,360 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Cost of revenue: | | | | | | | | | | | | |
| Product | | | 16,017 | | | | 16,273 | | | | 15,420 | |
| Service and other | | | 30,061 | | | | 26,637 | | | | 22,933 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Total cost of revenue | | | 46,078 | | | | 42,910 | | | | 38,353 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Gross margin | | | 96,937 | | | | 82,933 | | | | 72,007 | |
| Research and development | | | 19,269 | | | | 16,876 | | | | 14,726 | |
| Sales and marketing | | | 19,598 | | | | 18,213 | | | | 17,469 | |
| General and administrative | | | 5,111 | | | | 4,885 | | | | 4,754 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Operating income | | | 52,959 | | | | 42,959 | | | | 35,058 | |
| Other income, net | | | 77 | | | | 729 | | | | 1,416 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Income before income taxes | | | 53,036 | | | | 43,688 | | | | 36,474 | |
| Provision for income taxes | | | 8,755 | | | | 4,448 | | | | 19,903 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Net income | | $ | 44,281 | | | $ | 39,240 | | | $ | 16,571 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Earnings per share: | | | | | | | | | | | | |
| Basic | | $ | 5.82 | | | $ | 5.11 | | | $ | 2.15 | |
| Diluted | | $ | 5.76 | | | $ | 5.06 | | | $ | 2.13 | |
| | | | | | | | | | | | | |
| Weighted average shares outstanding: | | | | | | | | | | | | |
| Basic | | | 7,610 | | | | 7,673 | | | | 7,700 | |
| Diluted | | | 7,683 | | | | 7,753 | | | | 7,794 | |
| | | | | | | | | | | | | |
---
English News:
Technology and Enterprise Leaders Combine Efforts to Improve Open Source Security New collaboration called Open Source Security Foundation (OpenSSF) consolidates industry efforts to improve the security of open source software - SAN FRANCISCO, Aug. 3, 2020 /PRNewswire/ --The Linux Foundation, today announced the formation of the Open Source Security Foundation (OpenSSF). The OpenSSF is a cross-industry collaboration that brings together leaders to improve the security of open source software (OSS) by building a broader community with targeted initiatives and best practices. It combines efforts from the Core Infrastructure Initiative, GitHub's Open Source Security Coalition and other open source security work from founding governing board members GitHub, Google, IBM, JPMorgan Chase, Microsoft, NCC Group, OWASP Foundation and Red Hat, among others. Additional founding members include ElevenPaths, GitLab, HackerOne, Intel, Okta, Purdue, SAFECode, StackHawk, Trail of Bits, Uber and VMware. Open source software has become pervasive in data centers, consumer devices and services, representing its value among technologists and businesses alike. Because of its development process, open source that ultimately reaches end users has a chain of contributors and dependencies. It is important that those responsible for their user or organization's security are able to understand and verify the security of this dependency chain. The OpenSSF brings together the industry's most important open source security initiatives and the individuals and companies that support them. The Linux Foundation's Core Infrastructure Initiative (CII), founded in response to the 2014 Heartbleed bug, and the Open Source Security Coalition, founded by the GitHub Security Lab, are just a couple of the projects that will be brought together under the new OpenSSF. The Foundation's governance, technical community and its decisions will be transparent, and any specifications and projects developed will be vendor agnostic. The OpenSSF is committed to collaboration and working both upstream and with existing communities to advance open source security for all. \We believe open source is a public good and across every industry we have a responsibility to come together to improve and support the security of open source software we all depend on," said Jim Zemlin, executive director at The Linux Foundation. "Ensuring open source security is one of the most important things we can do, and it requires all of us around the world to assist in the effort. The OpenSSF will provide that forum for a truly collaborative, cross-industry effort." With the formalization of the group, the open governance structure is established and includes a Governing Board (GB), a Technical Advisory Council (TAC) and a separate oversight for each working group and project. OpenSSF intends to host a variety of open source technical initiativesto support security for the world's most critical open source software, all of which will be done in the open on GitHub. For more information and to contribute to the project, please visit https://openssf.org ResourcesThreats, Risks & Mitigations of the Open Source Ecosystem, Open Source Security CoalitionVulnerabilities in the Core, Harvard's Lab for Innovation Science and Linux FoundationRed Hat Product Security Risk Report, Red Hat Governing Board Member QuotesGitHub"Every industry is using open source software, and it is our collective responsibility to help maintain a healthy and secure ecosystem," said Jamie Cool, Vice President of Product Management, Security at GitHub. "GitHub founded the Open Source Security Coalition in 2019 to bring together industry leaders around this mission and ensure the consumption of open source software is something that all developers can do with confidence. We look forward to this next step in the evolution of the coalition and serving as a founding member of the Open Source Security Foundation." Read more in GitHub's blog. Google"Security is always top of mind for Google and our users. We have developed robust internal security tools and systems for consuming open source software internally, for our users, and for our OSS-based products. We believe in building safer products for everyone with far-reaching impacts, and we are excited to work with the broader community through the OpenSSF. We look forward to sharing our innovations and working together to improve the security of open source software we all depend on," said Director of Product Security, Google Cloud, James Higgins. IBM"Open source has become mainstream in the enterprise. As such, the security of the open source supply-chain is of paramount importance to IBM and our clients," said Christopher Ferris, IBM Fellow and CTO Open Technology. "The launch of the Open Source Security Foundation marks an important step towards giving open source communities the information and tools they need to improve their secure engineering practices, and the information developers need to choose their open source wisely." JPMorgan Chase"Developing, growing and using open source software is a top priority for JPMorgan Chase. We are committed to partner with the community through the Open Source Security Foundation to ensure trust and security in open source software for everyone," stated Lori Beer, Global Chief Information Officer, JPMorgan Chase. Microsoft"As open source is now core to nearly every company's technology strategy, securing open source software is an essential part of securing the supply chain for every company, including our own," said Mark Russinovich, Chief Technology Officer, Microsoft Azure. "As with everything open source, building better security is a community-driven process. All of us at Microsoft are excited to be a founding member of the Open Source Security Foundation and we look forward to partnering with the community to create new security solutions that will help us all." Read more in Microsoft's blog. NCC Group"The security and privacy of the internet is essential for the protection of individuals, organizations and critical infrastructure, and also the future of democracy and our civil liberties. Given the fundamental role open source plays in powering our world, creating scalable resources and tools to help software maintainers, developers, and users understand and improve their projects' security is a significant step toward a safer and more secure world. By bringing together a dedicated group of technologists with a shared desire to improve the security of open source software, together we can begin to remediate - or even prevent - security vulnerabilities at a scale not previously possible," stated Jennifer Fernick, Head of Research at global cyber security expert NCC Group." OWASP"Joining the Linux Foundation and the Open Source Security Foundation is central to our mission to advance the state of application security, especially as OpenSSF is already aligned with OWASP's core philosophies of openness, transparency and innovation," said Andrew van der Stock, Executive Director of OWASP, the Open Web Application Security Project. "We look forward to working with all of the participating organizations to improve the state of software security and work together on projects of vital interest to software developers, organizations, and governments around the world." Red Hat"Red Hat is unrelenting in our commitment to open source and in participating to make upstream projects successful. We believe security is an essential part of healthy project communities," said Chris Wright, CTO of Red Hat. "Now, more than ever, is the time for us to join together with other leaders to help ensure key projects are secure and consumable in our products, across enterprises, and as part of the hybrid cloud. We are excited to help found this Open Source Software Foundation." Additional Founding Member QuotesElevenPaths"The security of an enterprise application or services depends mainly on the security of all its components. The vast majority of business applications and services are not fully developed in-house as they make use of open source components that help accelerate the development cycle and extend their functionality. Therefore, it is essential to ensure that all open source components comply with the best practices of secure development and periodic reviews are carried out to positively impact all software that makes use of these components. Joining the Open Source Security Foundation is fully aligned with our vision and principles." GitLab"GitLab is excited to play a part in the creation of the Open Source Security Foundation (OpenSSF) to further cross-industry collaboration and move the security of open source projects forward as it is key to the future of technology," said David DeSanto, director of product for Secure and Defend at GitLab. "Aligning with GitLab's mission of 'everyone can contribute,' we look forward to supporting and contributing to the community to bring together security-conscious developers to change open source development in a collaborative and fundamental way." HackerOne"Open source software powers HackerOne," said Reed Loden, Head of Open Source Security, HackerOne. "It powers our software, our infrastructure, and our model for engaging with our community. As part of our mission to make the internet safer, we want to make it easier for open source projects to remain secure. For over three years, we've given the open source community our platform for free, and we've been long-time supporters of initiatives like Internet Bug Bounty. Joining the Linux Foundation and the Open Source Security Foundation allows us to continue on our mission and make the internet safer alongside some of the foremost visionaries in security. We look forward to seeing the change we can make together." Intel"It takes the industry working together to advance technology and accelerate open source security initiatives. Hardware and software are inextricably linked to deliver security, transparency and trust in open source software. Together with the OpenSSF, Intel will continue to play a key role in mobilizing the industry at large and solving security challenges from the cloud to the edge," said Anand Pashupathy, GM of System Security Software, Intel. SAFECode"Open source software is a major component in today's software supply chain and thus comprises a significant fraction of the software that individuals and organizations rely upon. Supporting the secure development of open source software is of critical importance to SAFECode members and the software community," said Steve Lipner, executive director of SAFECode. "We are looking forward to bringing our software security experience to bear as we participate in the Open Source Security Foundation's mission to build a collaborative, cross-industry community to support the security of open source software." StackHawk"The use of open source has undoubtedly reached critical mass, with ever increasing dependency trees and software complexity. Equipping engineering teams to deliver secure applications simply and scalably is core to our mission at StackHawk. We are excited to be one of the founding members of the Open Source Security Foundation to ensure that this can be a reality across software development as a whole and look forward to continued partnership with the community," said StackHawk's Founder & CEO, Joni Klippert. Uber"Security and Privacy is always top of mind at Uber to ensure we are responsible stewards of our user's data. We're always focused on mitigating all types of software vulnerabilities and as such the security of open source software is a top priority. Historically, we've worked with other industry leaders to help build a strong security community around open source software and we are excited to expand those efforts with the OpenSSF," said Rob Fletcher, Sr Manager, Security Engineering. VMware"Strengthening the security posture, policies, and processes in the open source community and in widely used open source projects is strengthening the whole software ecosystem - for all players," said Joshua Lock, security tech lead, Open Source Technology Center, VMware. "VMware strongly supports the goal of making our software ecosystem more resilient and more secure." About the Linux FoundationFounded in 2000, the Linux Foundation is supported by more than 1,000 members and is the world's leading home for collaboration on open source software, open standards, open data, and open hardware. Linux Foundation's projects are critical to the world's infrastructure including Linux, Kubernetes, Node.js, and more. The Linux Foundation's methodology focuses on leveraging best practices and addressing the needs of contributors, users and solution providers to create sustainable models for open collaboration. For more information, please visit us at linuxfoundation.org. The Linux Foundation has registered trademarks and uses trademarks. For a list of trademarks of The Linux Foundation, please see our trademark usage page: https://www.linuxfoundation.org/trademark-usage. Linux is a registered trademark of Linus Torvalds. Media ContactJennifer CloerreTHINKit Media503-867-2304[emailprotected] SOURCE The Linux Foundation Related Links www.linuxfoundation.org",
Chinese News:
北京时间8月3日早上，微软官方发表声明称，将继续讨论收购TikTok美国业务的事宜。这份声明显示，微软不单要收购TikTok美国业务，还包括“在加拿大、澳大利亚和新西兰购买TikTok服务”，相关谈判最迟在9月15日完成。收购涉及四个地区的TikTok服务 微软公司的声明称，将继续寻求收购TikTok在美业务的可能，这是微软首席执行官萨蒂亚纳德拉和美国总统特朗普讨论后作出的决定。微软将在几周内迅速与TikTok的母公司字节跳动展开谈判，并且，相关谈判最迟将在2020年9月15日完成。声明称，与字节跳动的谈判将以微软和字节跳动向美国外国投资委员会(CFIUS)发出的通知为基础。目前两家公司已经形成了一个初步的设想，包括在美国、加拿大、澳大利亚和新西兰购买TikTok服务，最终将使得微软在这些市场拥有和运营TikTok。此外，微软可能会邀请其他美国投资者以少数股权参与此次收购。微软表示，将确保TikTok美国用户的数据储存于美国境内，并删除储存在其他地方的美国数据。公司补充道，微软将继续与美国政府和美国总统特朗普保持沟通，针对特朗普的意见作出回应。微软的“社交”恐惧？截至记者发稿时，美股盘前微软涨幅为1.78%，盘前股价为208.65美元。截至美股上周五收盘，微软总市值为1.55万亿美元。7月底，微软发布了2020财年第四财季及全年财报。报告显示，微软第四财季营收为380.33亿美元，同比增长13%；净利润为112.02亿美元，同比下降15%。其中，云业务、游戏等贡献巨大，在疫情期间获得较大增长。但旗下职业社交网站Linkedln的业务却受到冲击。实际上，微软对互联网社交业务的运营能力一直备受质疑。微软曾经的即时通信工具MSN Messenger，对于众多中国用户来说并不陌生。公开资料显示，MSN Messenger在1999年7月正式上线，到2001年3月该业务在全世界范围就达到了3000万在线用户，2005年5月正式进入中国市场。然而，好景不长。随着各大互联网公司陆续推出不同类型的社交工具，MSN的市场逐渐被蚕食。尤其智能手机普及后，使用MSN的用户更少。2013年微软宣布，关闭全球范围除了中国市场外的MSN。不过，一年后，中国MSN亦正式关闭，所有用户可以转向早先微软收购的Skype。目前Skype的普及程度也“肉眼可见”的不高。业内分析指，微软本身是一家软件公司，讲求自身平台的整合性和技术，并非以应用和场景为导向。
Japanese News:
"米Microsoftが7月22日（現地時間）に発表した第4四半期（2020年4～6月期）の決算は、売上高は13％増の380億ドル、純利益は15％減の108億ドル（1株当たり1ドル46セント）だった。コロナ禍による“巣ごもり需要”で、XboxとSurfaceが好調だった。 売上高、純利益ともにアナリスト予測（売上高は365億ドル、1株当たりの純利益は1ドル34セント）を上回った。 新型コロナウイルス感染症対策でユーザーが自宅で仕事や学習をする状態が続くにつれてクラウドの需要が増加し、WindowsのOEM、Surface、ゲーム事業の需要が伸びたが、中小企業のライセンス契約が鈍化し、傘下のLinkedInは雇用市場の鈍化と広告の減少によって悪影響を受けたと説明した。 サティア・ナデラCEOは発表文で「（コロナ禍の）過去5カ月で、テクノロジーの強度がビジネス回復力の鍵であることが明らかになった。デジタル化を確立している企業ほど、この危機から早く確実に脱出できるだろう。Microsoftは統合された最新テクノロジーを備える唯一の企業として、企業が顧客ニーズへの対応を再考するのを支援していく」と語った。 Azureやサーバー製品を担うIntelligent Cloud部門全体の売上高は17％増の133億7000万ドルだった。Azureの売上高は47％増。前期は59％増だった。 OfficeやLinkedIn、Dynamicsを扱うProductivity and Business Processes部門の売上高は6％増の117億5000万ドルだった。企業向けOffice 365の売上高は19％増、コンシューマー向けOffice 365のサブスクリプション数は23％増の4270万人だった。クラウドではない方のOfficeの売上高は34％減だった。LinkedInの売上高は10％増。LinkedInは21日、960人のリストラを発表した。 Windows、ハードウェア、Xbox、検索のMore Personal Computing部門の売上高は14％増の129億1000万ドルだった。Xboxのコンテンツとサービスの売上高が65％増と好調。Surfaceも28％増だった。検索（Bing）の売上高は広告減少で18％減。また、すべてのMicrosoft Storeの実店舗を閉鎖したため、営業コストが10％増加した。"
Spanish News:
"La multinacional estadounidense de software y servicios informáticos Microsoft anunció este miércoles unos beneficios netos de 44.281 millones de dólares en el conjunto de su ejercicio 2020, un 13 % más que en el mismo periodo del año pasado, impulsado por la nube inteligente y pese al cierre de sus tiendas por el Covid-19. El gigante tecnológico dirigido por el ejecutivo Satya Nadella facturó 143.015 millones de dólares en los últimos 12 meses, lo que representa casi un 14 % más que en el ejercicio 2019, y los accionistas se embolsaron 5,76 dólares por acción, frente a los 5,06 de hace un año. Microsoft señaló que su negocio en la nube ha superado los 50.000 millones de dólares en ingresos anuales por primera vez en la historia, a lo que Nadella agregó al dar cuenta de los resultados que «las organizaciones que creen su propia capacidad digital se recuperarán más rápido y saldrán reforzados de la crisis». En cuanto al cuarto trimestre de 2020, el más seguido por los analistas de Wall Street, la compañía obtuvo unas ganancias de 11.202 millones de dólares, un 15 % menos que en el mismo periodo del ejercicio anterior, tras registrar un cargo de 450 millones por el cierre de todas sus tiendas físicas. Por su parte, las ventas entre abril y junio ascendieron a 38.033 millones de dólares, lo que representa casi un 13 % más que en ese tramo 2019, mientras los accionistas se embolsaron 1,46 dólares por acción , frente a los 1,71 de hace un año. Microsoft señaló los buenos resultados de su negocios de Productividad, Procesos de Negocio y Nube Inteligente en este último trimestre ya que «los clientes han seguido trabajando y aprendiendo en casa» debido a la pandemia y eso ha generado un mayor uso y demanda de sus sistemas y productos . En concreto, el segmento de la Nube Inteligente ha tenido la mayor recaudación de su cartera este 2020, con unas ventas de 48.366 millones de dólares (un 24 % más interanual), y solo en este último trimestre la plataforma Azure aumentó su facturación un 47 % , una cifra notable aunque con signos de desaceleración respecto al periodo previo. Le siguió de cerca el segmento de Computación Personal, con 48.251 millones (casi un 6 % más), que se benefició de una mayor demanda en las áreas de Windows, Surface y Gaming ; y el de Productividad y Procesos de Negocio, con 46.398 millones (casi un 13 % más), impulsado por el paquete Office 365. Los resultados de Microsoft fueron divulgados al cierre de la Bolsa de Nueva York y en las operaciones electrónicas sus acciones caían casi un 3 % , pese a superar las expectativas de los analistas. Desde el comienzo de 2020, Microsoft se ha revalorizado más del 34 % en bolsa y su capitalización de mercado llega a 1,58 billones de dólares , una de las más grandes por detrás de Apple."
Greek News:
"Η Microsoft εντείνει τις επενδύσεις της στην καινοτομία και την ασφάλεια, ενισχύοντας τη θέση της σαν εταιρία κολοσσός στον τεχνολογικό κλάδο. Στο πλαίσιο αυτό, ανακοίνωσε την αύξηση της μέγιστης επιβράβευσης στο πρόγραμμα ""bug bounty"" για το Windows Insider Preview στα 100.000 δολάρια. Η κίνηση αυτή συνοδεύεται από τη διευκόλυνση της διαδικασίας υποβολής ευρημάτων για ερευνητές ασφαλείας που εντοπίζουν ευπάθειες σε βασικά προϊόντα όπως ο Microsoft Edge, το Windows Defender Application Guard, το Hyper-V και τις τεχνολογίες Mitigation Bypass. Παράλληλα, η εταιρεία κατέγραψε αύξηση κατά 14% στις δαπάνες για έρευνα και ανάπτυξη το οικονομικό έτος 2020, φτάνοντας τα 2,4 δισεκατομμύρια δολάρια περισσότερα σε σχέση με το 2019. Η ενίσχυση αυτή αποδίδεται κυρίως σε στρατηγικές επενδύσεις σε τομείς όπως το cloud engineering, το LinkedIn, τις ηλεκτρονικές συσκευές και τα βιντεοπαιχνίδια. Στις 28 Ιουλίου 2020, η Microsoft προχώρησε και σε νέα στρατηγική συνεργασία με τη Mastercard, με στόχο την επιτάχυνση της καινοτομίας στο ψηφιακό εμπόριο και την υποστήριξη των υπηρεσιών cloud. Μέσω της αξιοποίησης τεχνολογιών AI αλλά και της υπηρεσίας Azure, η συνεργασία στοχεύει στην καινοτομία, κυρίως στον κλάδο του fintech αλλά και τον κλάδο του digital commerce. Η πολυδιάστατη στρατηγική της Microsoft αποτυπώνει μια σαφή στροφή προς την ενίσχυση της τεχνολογικής υπεροχής που έχει επιδείξει τα τελευταία χρόνια αλλά και της ψηφιακής ασφάλειας, εδραιώνοντας την επιρροή της σε κρίσιμους τομείς της ψηφιακής οικονομίας."
Question:
How is the company allocating capital (e.g., investments, share repurchases, dividends) based on its performance and market outlook from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | How is the company allocating capital (e.g., investments, share repurchases, dividends) based on its performance and market outlook from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: Microsoft is allocating capital through substantial share repurchases $22,968M in 2020, increasing dividends $15,137M in 2020, investments in acquisitions $2,521M in 2020, and significant capital expenditures for property and equipment $15,441M in 2020, primarily focused on expanding cloud infrastructure and supporting innovation.
Financial Statement Evidence: Share repurchases: $22,968M in 2020, $19,543M in 2019, $10,721M in 2018. Dividends: $15,137M in 2020, $13,811M in 2019, $12,699M in 2018. Capital expenditures: $15,441M in 2020, $13,925M in 2019, $11,632M in 2018. |
MSFT_20200730 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 |
|:-------------------------------------------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|
| (In millions) | | | | | | | | |
| | | | | | | | | |
| | | | | | | | | |
| June 30, | | 2020 | | | 2019 | | | |
| | | | | | | | | |
| Assets | | | | | | | | |
| Current assets: | | | | | | | | |
| Cash and cash equivalents | | $ | 13,576 | | | $ | 11,356 | |
| Short-term investments | | | 122,951 | | | | 122,463 | |
| | | | | | | | | |
| | | | | | | | | |
| Total cash, cash equivalents, and short-term investments | | | 136,527 | | | | 133,819 | |
| Accounts receivable, net of allowance for doubtful accounts of$788and $411 | | | 32,011 | | | | 29,524 | |
| Inventories | | | 1,895 | | | | 2,063 | |
| Other current assets | | | 11,482 | | | | 10,146 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current assets | | | 181,915 | | | | 175,552 | |
| Property and equipment, net of accumulated depreciation of$43,197and $35,330 | | | 44,151 | | | | 36,477 | |
| Operating lease right-of-use assets | | | 8,753 | | | | 7,379 | |
| Equity investments | | | 2,965 | | | | 2,649 | |
| Goodwill | | | 43,351 | | | | 42,026 | |
| Intangible assets, net | | | 7,038 | | | | 7,750 | |
| Other long-term assets | | | 13,138 | | | | 14,723 | |
| | | | | | | | | |
| | | | | | | | | |
| Total assets | | $ | 301,311 | | | $ | 286,556 | |
| | | | | | | | | |
| | | | | | | | | |
| Liabilities and stockholders’ equity | | | | | | | | |
| Current liabilities: | | | | | | | | |
| Accounts payable | | $ | 12,530 | | | $ | 9,382 | |
| Current portion of long-term debt | | | 3,749 | | | | 5,516 | |
| Accrued compensation | | | 7,874 | | | | 6,830 | |
| Short-term income taxes | | | 2,130 | | | | 5,665 | |
| Short-term unearned revenue | | | 36,000 | | | | 32,676 | |
| Other current liabilities | | | 10,027 | | | | 9,351 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current liabilities | | | 72,310 | | | | 69,420 | |
| Long-term debt | | | 59,578 | | | | 66,662 | |
| Long-term income taxes | | | 29,432 | | | | 29,612 | |
| Long-term unearned revenue | | | 3,180 | | | | 4,530 | |
| Deferred income taxes | | | 204 | | | | 233 | |
| Operating lease liabilities | | | 7,671 | | | | 6,188 | |
| Other long-term liabilities | | | 10,632 | | | | 7,581 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities | | | 183,007 | | | | 184,226 | |
| | | | | | | | | |
| | | | | | | | | |
| Commitments and contingencies | | | | | | | | |
| Stockholders’ equity: | | | | | | | | |
| Common stock and paid-in capital – shares authorized24,000; outstanding7,571and7,643 | | | 80,552 | | | | 78,520 | |
| Retained earnings | | | 34,566 | | | | 24,150 | |
| Accumulated other comprehensive income (loss) | | | 3,186 | | | | (340 | ) |
| | | | | | | | | |
| | | | | | | | | |
| Total stockholders’ equity | | | 118,304 | | | | 102,330 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities and stockholders’ equity | | $ | 301,311 | | | $ | 286,556 | |
| | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 |
|:---------------------------------------------------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|
| (In millions) | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Year Ended June 30, | | 2020 | | | 2019 | | | 2018 | | | | |
| | | | | | | | | | | | | |
| Operations | | | | | | | | | | | | |
| Net income | | $ | 44,281 | | | $ | 39,240 | | | $ | 16,571 | |
| Adjustments to reconcile net income to net cash from operations: | | | | | | | | | | | | |
| Depreciation, amortization, and other | | | 12,796 | | | | 11,682 | | | | 10,261 | |
| Stock-based compensation expense | | | 5,289 | | | | 4,652 | | | | 3,940 | |
| Net recognized gains on investments and derivatives | | | (219 | ) | | | (792 | ) | | | (2,212 | ) |
| Deferred income taxes | | | 11 | | | | (6,463 | ) | | | (5,143 | ) |
| Changes in operating assets and liabilities: | | | | | | | | | | | | |
| Accounts receivable | | | (2,577 | ) | | | (2,812 | ) | | | (3,862 | ) |
| Inventories | | | 168 | | | | 597 | | | | (465 | ) |
| Other current assets | | | (2,330 | ) | | | (1,718 | ) | | | (952 | ) |
| Other long-term assets | | | (1,037 | ) | | | (1,834 | ) | | | (285 | ) |
| Accounts payable | | | 3,018 | | | | 232 | | | | 1,148 | |
| Unearned revenue | | | 2,212 | | | | 4,462 | | | | 5,922 | |
| Income taxes | | | (3,631 | ) | | | 2,929 | | | | 18,183 | |
| Other current liabilities | | | 1,346 | | | | 1,419 | | | | 798 | |
| Other long-term liabilities | | | 1,348 | | | | 591 | | | | (20 | ) |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Net cash from operations | | | 60,675 | | | | 52,185 | | | | 43,884 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Financing | | | | | | | | | | | | |
| Repayments of short-term debt, maturities of 90 days or less, net | | | 0 | | | | 0 | | | | (7,324 | ) |
| Proceeds from issuance of debt | | | 0 | | | | 0 | | | | 7,183 | |
| Cash premium on debt exchange | | | (3,417 | ) | | | 0 | | | | 0 | |
| Repayments of debt | | | (5,518 | ) | | | (4,000 | ) | | | (10,060 | ) |
| Common stock issued | | | 1,343 | | | | 1,142 | | | | 1,002 | |
| Common stock repurchased | | | (22,968 | ) | | | (19,543 | ) | | | (10,721 | ) |
| Common stock cash dividends paid | | | (15,137 | ) | | | (13,811 | ) | | | (12,699 | ) |
| Other, net | | | (334 | ) | | | (675 | ) | | | (971 | ) |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Net cash used in financing | | | (46,031 | ) | | | (36,887 | ) | | | (33,590 | ) |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Investing | | | | | | | | | | | | |
| Additions to property and equipment | | | (15,441 | ) | | | (13,925 | ) | | | (11,632 | ) |
| Acquisition of companies, net of cash acquired, and purchases of intangible and other assets | | | (2,521 | ) | | | (2,388 | ) | | | (888 | ) |
| Purchases of investments | | | (77,190 | ) | | | (57,697 | ) | | | (137,380 | ) |
| Maturities of investments | | | 66,449 | | | | 20,043 | | | | 26,360 | |
| Sales of investments | | | 17,721 | | | | 38,194 | | | | 117,577 | |
| Other, net | | | (1,241 | ) | | | 0 | | | | (98 | ) |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Net cash used in investing | | | (12,223 | ) | | | (15,773 | ) | | | (6,061 | ) |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Effect of foreign exchange rates on cash and cash equivalents | | | (201 | ) | | | (115 | ) | | | 50 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Net change in cash and cash equivalents | | | 2,220 | | | | (590 | ) | | | 4,283 | |
| Cash and cash equivalents, beginning of period | | | 11,356 | | | | 11,946 | | | | 7,663 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Cash and cash equivalents, end of period | | $ | 13,576 | | | $ | 11,356 | | | $ | 11,946 | |
| | | | | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 |
|:----------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|
| (In millions, except per share amounts) | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Year Ended June 30, | | 2020 | | | 2019 | | | 2018 | | | | |
| | | | | | | | | | | | | |
| Revenue: | | | | | | | | | | | | |
| Product | | $ | 68,041 | | | $ | 66,069 | | | $ | 64,497 | |
| Service and other | | | 74,974 | | | | 59,774 | | | | 45,863 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Total revenue | | | 143,015 | | | | 125,843 | | | | 110,360 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Cost of revenue: | | | | | | | | | | | | |
| Product | | | 16,017 | | | | 16,273 | | | | 15,420 | |
| Service and other | | | 30,061 | | | | 26,637 | | | | 22,933 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Total cost of revenue | | | 46,078 | | | | 42,910 | | | | 38,353 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Gross margin | | | 96,937 | | | | 82,933 | | | | 72,007 | |
| Research and development | | | 19,269 | | | | 16,876 | | | | 14,726 | |
| Sales and marketing | | | 19,598 | | | | 18,213 | | | | 17,469 | |
| General and administrative | | | 5,111 | | | | 4,885 | | | | 4,754 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Operating income | | | 52,959 | | | | 42,959 | | | | 35,058 | |
| Other income, net | | | 77 | | | | 729 | | | | 1,416 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Income before income taxes | | | 53,036 | | | | 43,688 | | | | 36,474 | |
| Provision for income taxes | | | 8,755 | | | | 4,448 | | | | 19,903 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Net income | | $ | 44,281 | | | $ | 39,240 | | | $ | 16,571 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Earnings per share: | | | | | | | | | | | | |
| Basic | | $ | 5.82 | | | $ | 5.11 | | | $ | 2.15 | |
| Diluted | | $ | 5.76 | | | $ | 5.06 | | | $ | 2.13 | |
| | | | | | | | | | | | | |
| Weighted average shares outstanding: | | | | | | | | | | | | |
| Basic | | | 7,610 | | | | 7,673 | | | | 7,700 | |
| Diluted | | | 7,683 | | | | 7,753 | | | | 7,794 | |
| | | | | | | | | | | | | |
---
English News:
Technology and Enterprise Leaders Combine Efforts to Improve Open Source Security New collaboration called Open Source Security Foundation (OpenSSF) consolidates industry efforts to improve the security of open source software - SAN FRANCISCO, Aug. 3, 2020 /PRNewswire/ --The Linux Foundation, today announced the formation of the Open Source Security Foundation (OpenSSF). The OpenSSF is a cross-industry collaboration that brings together leaders to improve the security of open source software (OSS) by building a broader community with targeted initiatives and best practices. It combines efforts from the Core Infrastructure Initiative, GitHub's Open Source Security Coalition and other open source security work from founding governing board members GitHub, Google, IBM, JPMorgan Chase, Microsoft, NCC Group, OWASP Foundation and Red Hat, among others. Additional founding members include ElevenPaths, GitLab, HackerOne, Intel, Okta, Purdue, SAFECode, StackHawk, Trail of Bits, Uber and VMware. Open source software has become pervasive in data centers, consumer devices and services, representing its value among technologists and businesses alike. Because of its development process, open source that ultimately reaches end users has a chain of contributors and dependencies. It is important that those responsible for their user or organization's security are able to understand and verify the security of this dependency chain. The OpenSSF brings together the industry's most important open source security initiatives and the individuals and companies that support them. The Linux Foundation's Core Infrastructure Initiative (CII), founded in response to the 2014 Heartbleed bug, and the Open Source Security Coalition, founded by the GitHub Security Lab, are just a couple of the projects that will be brought together under the new OpenSSF. The Foundation's governance, technical community and its decisions will be transparent, and any specifications and projects developed will be vendor agnostic. The OpenSSF is committed to collaboration and working both upstream and with existing communities to advance open source security for all. \We believe open source is a public good and across every industry we have a responsibility to come together to improve and support the security of open source software we all depend on," said Jim Zemlin, executive director at The Linux Foundation. "Ensuring open source security is one of the most important things we can do, and it requires all of us around the world to assist in the effort. The OpenSSF will provide that forum for a truly collaborative, cross-industry effort." With the formalization of the group, the open governance structure is established and includes a Governing Board (GB), a Technical Advisory Council (TAC) and a separate oversight for each working group and project. OpenSSF intends to host a variety of open source technical initiativesto support security for the world's most critical open source software, all of which will be done in the open on GitHub. For more information and to contribute to the project, please visit https://openssf.org ResourcesThreats, Risks & Mitigations of the Open Source Ecosystem, Open Source Security CoalitionVulnerabilities in the Core, Harvard's Lab for Innovation Science and Linux FoundationRed Hat Product Security Risk Report, Red Hat Governing Board Member QuotesGitHub"Every industry is using open source software, and it is our collective responsibility to help maintain a healthy and secure ecosystem," said Jamie Cool, Vice President of Product Management, Security at GitHub. "GitHub founded the Open Source Security Coalition in 2019 to bring together industry leaders around this mission and ensure the consumption of open source software is something that all developers can do with confidence. We look forward to this next step in the evolution of the coalition and serving as a founding member of the Open Source Security Foundation." Read more in GitHub's blog. Google"Security is always top of mind for Google and our users. We have developed robust internal security tools and systems for consuming open source software internally, for our users, and for our OSS-based products. We believe in building safer products for everyone with far-reaching impacts, and we are excited to work with the broader community through the OpenSSF. We look forward to sharing our innovations and working together to improve the security of open source software we all depend on," said Director of Product Security, Google Cloud, James Higgins. IBM"Open source has become mainstream in the enterprise. As such, the security of the open source supply-chain is of paramount importance to IBM and our clients," said Christopher Ferris, IBM Fellow and CTO Open Technology. "The launch of the Open Source Security Foundation marks an important step towards giving open source communities the information and tools they need to improve their secure engineering practices, and the information developers need to choose their open source wisely." JPMorgan Chase"Developing, growing and using open source software is a top priority for JPMorgan Chase. We are committed to partner with the community through the Open Source Security Foundation to ensure trust and security in open source software for everyone," stated Lori Beer, Global Chief Information Officer, JPMorgan Chase. Microsoft"As open source is now core to nearly every company's technology strategy, securing open source software is an essential part of securing the supply chain for every company, including our own," said Mark Russinovich, Chief Technology Officer, Microsoft Azure. "As with everything open source, building better security is a community-driven process. All of us at Microsoft are excited to be a founding member of the Open Source Security Foundation and we look forward to partnering with the community to create new security solutions that will help us all." Read more in Microsoft's blog. NCC Group"The security and privacy of the internet is essential for the protection of individuals, organizations and critical infrastructure, and also the future of democracy and our civil liberties. Given the fundamental role open source plays in powering our world, creating scalable resources and tools to help software maintainers, developers, and users understand and improve their projects' security is a significant step toward a safer and more secure world. By bringing together a dedicated group of technologists with a shared desire to improve the security of open source software, together we can begin to remediate - or even prevent - security vulnerabilities at a scale not previously possible," stated Jennifer Fernick, Head of Research at global cyber security expert NCC Group." OWASP"Joining the Linux Foundation and the Open Source Security Foundation is central to our mission to advance the state of application security, especially as OpenSSF is already aligned with OWASP's core philosophies of openness, transparency and innovation," said Andrew van der Stock, Executive Director of OWASP, the Open Web Application Security Project. "We look forward to working with all of the participating organizations to improve the state of software security and work together on projects of vital interest to software developers, organizations, and governments around the world." Red Hat"Red Hat is unrelenting in our commitment to open source and in participating to make upstream projects successful. We believe security is an essential part of healthy project communities," said Chris Wright, CTO of Red Hat. "Now, more than ever, is the time for us to join together with other leaders to help ensure key projects are secure and consumable in our products, across enterprises, and as part of the hybrid cloud. We are excited to help found this Open Source Software Foundation." Additional Founding Member QuotesElevenPaths"The security of an enterprise application or services depends mainly on the security of all its components. The vast majority of business applications and services are not fully developed in-house as they make use of open source components that help accelerate the development cycle and extend their functionality. Therefore, it is essential to ensure that all open source components comply with the best practices of secure development and periodic reviews are carried out to positively impact all software that makes use of these components. Joining the Open Source Security Foundation is fully aligned with our vision and principles." GitLab"GitLab is excited to play a part in the creation of the Open Source Security Foundation (OpenSSF) to further cross-industry collaboration and move the security of open source projects forward as it is key to the future of technology," said David DeSanto, director of product for Secure and Defend at GitLab. "Aligning with GitLab's mission of 'everyone can contribute,' we look forward to supporting and contributing to the community to bring together security-conscious developers to change open source development in a collaborative and fundamental way." HackerOne"Open source software powers HackerOne," said Reed Loden, Head of Open Source Security, HackerOne. "It powers our software, our infrastructure, and our model for engaging with our community. As part of our mission to make the internet safer, we want to make it easier for open source projects to remain secure. For over three years, we've given the open source community our platform for free, and we've been long-time supporters of initiatives like Internet Bug Bounty. Joining the Linux Foundation and the Open Source Security Foundation allows us to continue on our mission and make the internet safer alongside some of the foremost visionaries in security. We look forward to seeing the change we can make together." Intel"It takes the industry working together to advance technology and accelerate open source security initiatives. Hardware and software are inextricably linked to deliver security, transparency and trust in open source software. Together with the OpenSSF, Intel will continue to play a key role in mobilizing the industry at large and solving security challenges from the cloud to the edge," said Anand Pashupathy, GM of System Security Software, Intel. SAFECode"Open source software is a major component in today's software supply chain and thus comprises a significant fraction of the software that individuals and organizations rely upon. Supporting the secure development of open source software is of critical importance to SAFECode members and the software community," said Steve Lipner, executive director of SAFECode. "We are looking forward to bringing our software security experience to bear as we participate in the Open Source Security Foundation's mission to build a collaborative, cross-industry community to support the security of open source software." StackHawk"The use of open source has undoubtedly reached critical mass, with ever increasing dependency trees and software complexity. Equipping engineering teams to deliver secure applications simply and scalably is core to our mission at StackHawk. We are excited to be one of the founding members of the Open Source Security Foundation to ensure that this can be a reality across software development as a whole and look forward to continued partnership with the community," said StackHawk's Founder & CEO, Joni Klippert. Uber"Security and Privacy is always top of mind at Uber to ensure we are responsible stewards of our user's data. We're always focused on mitigating all types of software vulnerabilities and as such the security of open source software is a top priority. Historically, we've worked with other industry leaders to help build a strong security community around open source software and we are excited to expand those efforts with the OpenSSF," said Rob Fletcher, Sr Manager, Security Engineering. VMware"Strengthening the security posture, policies, and processes in the open source community and in widely used open source projects is strengthening the whole software ecosystem - for all players," said Joshua Lock, security tech lead, Open Source Technology Center, VMware. "VMware strongly supports the goal of making our software ecosystem more resilient and more secure." About the Linux FoundationFounded in 2000, the Linux Foundation is supported by more than 1,000 members and is the world's leading home for collaboration on open source software, open standards, open data, and open hardware. Linux Foundation's projects are critical to the world's infrastructure including Linux, Kubernetes, Node.js, and more. The Linux Foundation's methodology focuses on leveraging best practices and addressing the needs of contributors, users and solution providers to create sustainable models for open collaboration. For more information, please visit us at linuxfoundation.org. The Linux Foundation has registered trademarks and uses trademarks. For a list of trademarks of The Linux Foundation, please see our trademark usage page: https://www.linuxfoundation.org/trademark-usage. Linux is a registered trademark of Linus Torvalds. Media ContactJennifer CloerreTHINKit Media503-867-2304[emailprotected] SOURCE The Linux Foundation Related Links www.linuxfoundation.org",
Chinese News:
北京时间8月3日早上，微软官方发表声明称，将继续讨论收购TikTok美国业务的事宜。这份声明显示，微软不单要收购TikTok美国业务，还包括“在加拿大、澳大利亚和新西兰购买TikTok服务”，相关谈判最迟在9月15日完成。收购涉及四个地区的TikTok服务 微软公司的声明称，将继续寻求收购TikTok在美业务的可能，这是微软首席执行官萨蒂亚纳德拉和美国总统特朗普讨论后作出的决定。微软将在几周内迅速与TikTok的母公司字节跳动展开谈判，并且，相关谈判最迟将在2020年9月15日完成。声明称，与字节跳动的谈判将以微软和字节跳动向美国外国投资委员会(CFIUS)发出的通知为基础。目前两家公司已经形成了一个初步的设想，包括在美国、加拿大、澳大利亚和新西兰购买TikTok服务，最终将使得微软在这些市场拥有和运营TikTok。此外，微软可能会邀请其他美国投资者以少数股权参与此次收购。微软表示，将确保TikTok美国用户的数据储存于美国境内，并删除储存在其他地方的美国数据。公司补充道，微软将继续与美国政府和美国总统特朗普保持沟通，针对特朗普的意见作出回应。微软的“社交”恐惧？截至记者发稿时，美股盘前微软涨幅为1.78%，盘前股价为208.65美元。截至美股上周五收盘，微软总市值为1.55万亿美元。7月底，微软发布了2020财年第四财季及全年财报。报告显示，微软第四财季营收为380.33亿美元，同比增长13%；净利润为112.02亿美元，同比下降15%。其中，云业务、游戏等贡献巨大，在疫情期间获得较大增长。但旗下职业社交网站Linkedln的业务却受到冲击。实际上，微软对互联网社交业务的运营能力一直备受质疑。微软曾经的即时通信工具MSN Messenger，对于众多中国用户来说并不陌生。公开资料显示，MSN Messenger在1999年7月正式上线，到2001年3月该业务在全世界范围就达到了3000万在线用户，2005年5月正式进入中国市场。然而，好景不长。随着各大互联网公司陆续推出不同类型的社交工具，MSN的市场逐渐被蚕食。尤其智能手机普及后，使用MSN的用户更少。2013年微软宣布，关闭全球范围除了中国市场外的MSN。不过，一年后，中国MSN亦正式关闭，所有用户可以转向早先微软收购的Skype。目前Skype的普及程度也“肉眼可见”的不高。业内分析指，微软本身是一家软件公司，讲求自身平台的整合性和技术，并非以应用和场景为导向。
Japanese News:
"米Microsoftが7月22日（現地時間）に発表した第4四半期（2020年4～6月期）の決算は、売上高は13％増の380億ドル、純利益は15％減の108億ドル（1株当たり1ドル46セント）だった。コロナ禍による“巣ごもり需要”で、XboxとSurfaceが好調だった。 売上高、純利益ともにアナリスト予測（売上高は365億ドル、1株当たりの純利益は1ドル34セント）を上回った。 新型コロナウイルス感染症対策でユーザーが自宅で仕事や学習をする状態が続くにつれてクラウドの需要が増加し、WindowsのOEM、Surface、ゲーム事業の需要が伸びたが、中小企業のライセンス契約が鈍化し、傘下のLinkedInは雇用市場の鈍化と広告の減少によって悪影響を受けたと説明した。 サティア・ナデラCEOは発表文で「（コロナ禍の）過去5カ月で、テクノロジーの強度がビジネス回復力の鍵であることが明らかになった。デジタル化を確立している企業ほど、この危機から早く確実に脱出できるだろう。Microsoftは統合された最新テクノロジーを備える唯一の企業として、企業が顧客ニーズへの対応を再考するのを支援していく」と語った。 Azureやサーバー製品を担うIntelligent Cloud部門全体の売上高は17％増の133億7000万ドルだった。Azureの売上高は47％増。前期は59％増だった。 OfficeやLinkedIn、Dynamicsを扱うProductivity and Business Processes部門の売上高は6％増の117億5000万ドルだった。企業向けOffice 365の売上高は19％増、コンシューマー向けOffice 365のサブスクリプション数は23％増の4270万人だった。クラウドではない方のOfficeの売上高は34％減だった。LinkedInの売上高は10％増。LinkedInは21日、960人のリストラを発表した。 Windows、ハードウェア、Xbox、検索のMore Personal Computing部門の売上高は14％増の129億1000万ドルだった。Xboxのコンテンツとサービスの売上高が65％増と好調。Surfaceも28％増だった。検索（Bing）の売上高は広告減少で18％減。また、すべてのMicrosoft Storeの実店舗を閉鎖したため、営業コストが10％増加した。"
Spanish News:
"La multinacional estadounidense de software y servicios informáticos Microsoft anunció este miércoles unos beneficios netos de 44.281 millones de dólares en el conjunto de su ejercicio 2020, un 13 % más que en el mismo periodo del año pasado, impulsado por la nube inteligente y pese al cierre de sus tiendas por el Covid-19. El gigante tecnológico dirigido por el ejecutivo Satya Nadella facturó 143.015 millones de dólares en los últimos 12 meses, lo que representa casi un 14 % más que en el ejercicio 2019, y los accionistas se embolsaron 5,76 dólares por acción, frente a los 5,06 de hace un año. Microsoft señaló que su negocio en la nube ha superado los 50.000 millones de dólares en ingresos anuales por primera vez en la historia, a lo que Nadella agregó al dar cuenta de los resultados que «las organizaciones que creen su propia capacidad digital se recuperarán más rápido y saldrán reforzados de la crisis». En cuanto al cuarto trimestre de 2020, el más seguido por los analistas de Wall Street, la compañía obtuvo unas ganancias de 11.202 millones de dólares, un 15 % menos que en el mismo periodo del ejercicio anterior, tras registrar un cargo de 450 millones por el cierre de todas sus tiendas físicas. Por su parte, las ventas entre abril y junio ascendieron a 38.033 millones de dólares, lo que representa casi un 13 % más que en ese tramo 2019, mientras los accionistas se embolsaron 1,46 dólares por acción , frente a los 1,71 de hace un año. Microsoft señaló los buenos resultados de su negocios de Productividad, Procesos de Negocio y Nube Inteligente en este último trimestre ya que «los clientes han seguido trabajando y aprendiendo en casa» debido a la pandemia y eso ha generado un mayor uso y demanda de sus sistemas y productos . En concreto, el segmento de la Nube Inteligente ha tenido la mayor recaudación de su cartera este 2020, con unas ventas de 48.366 millones de dólares (un 24 % más interanual), y solo en este último trimestre la plataforma Azure aumentó su facturación un 47 % , una cifra notable aunque con signos de desaceleración respecto al periodo previo. Le siguió de cerca el segmento de Computación Personal, con 48.251 millones (casi un 6 % más), que se benefició de una mayor demanda en las áreas de Windows, Surface y Gaming ; y el de Productividad y Procesos de Negocio, con 46.398 millones (casi un 13 % más), impulsado por el paquete Office 365. Los resultados de Microsoft fueron divulgados al cierre de la Bolsa de Nueva York y en las operaciones electrónicas sus acciones caían casi un 3 % , pese a superar las expectativas de los analistas. Desde el comienzo de 2020, Microsoft se ha revalorizado más del 34 % en bolsa y su capitalización de mercado llega a 1,58 billones de dólares , una de las más grandes por detrás de Apple."
Greek News:
"Η Microsoft εντείνει τις επενδύσεις της στην καινοτομία και την ασφάλεια, ενισχύοντας τη θέση της σαν εταιρία κολοσσός στον τεχνολογικό κλάδο. Στο πλαίσιο αυτό, ανακοίνωσε την αύξηση της μέγιστης επιβράβευσης στο πρόγραμμα ""bug bounty"" για το Windows Insider Preview στα 100.000 δολάρια. Η κίνηση αυτή συνοδεύεται από τη διευκόλυνση της διαδικασίας υποβολής ευρημάτων για ερευνητές ασφαλείας που εντοπίζουν ευπάθειες σε βασικά προϊόντα όπως ο Microsoft Edge, το Windows Defender Application Guard, το Hyper-V και τις τεχνολογίες Mitigation Bypass. Παράλληλα, η εταιρεία κατέγραψε αύξηση κατά 14% στις δαπάνες για έρευνα και ανάπτυξη το οικονομικό έτος 2020, φτάνοντας τα 2,4 δισεκατομμύρια δολάρια περισσότερα σε σχέση με το 2019. Η ενίσχυση αυτή αποδίδεται κυρίως σε στρατηγικές επενδύσεις σε τομείς όπως το cloud engineering, το LinkedIn, τις ηλεκτρονικές συσκευές και τα βιντεοπαιχνίδια. Στις 28 Ιουλίου 2020, η Microsoft προχώρησε και σε νέα στρατηγική συνεργασία με τη Mastercard, με στόχο την επιτάχυνση της καινοτομίας στο ψηφιακό εμπόριο και την υποστήριξη των υπηρεσιών cloud. Μέσω της αξιοποίησης τεχνολογιών AI αλλά και της υπηρεσίας Azure, η συνεργασία στοχεύει στην καινοτομία, κυρίως στον κλάδο του fintech αλλά και τον κλάδο του digital commerce. Η πολυδιάστατη στρατηγική της Microsoft αποτυπώνει μια σαφή στροφή προς την ενίσχυση της τεχνολογικής υπεροχής που έχει επιδείξει τα τελευταία χρόνια αλλά και της ψηφιακής ασφάλειας, εδραιώνοντας την επιρροή της σε κρίσιμους τομείς της ψηφιακής οικονομίας."
Question:
What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: Microsoft maintains profit margins by emphasizing high-margin cloud services especially Azure, strategic pivot to subscription-based revenue models Office 365, investing in R&D $19,269M in 2020, up 14% from 2019, and optimizing operational efficiency despite store closures that increased operating costs by 10% in Q4.
Financial Statement Evidence: Gross margin: $96,937M in 2020 67.8% of revenue, $82,933M in 2019 65.9% of revenue, $72,007M in 2018 65.2% of revenue. Operating income: $52,959M in 2020 37.0% of revenue, $42,959M in 2019 34.1% of revenue, $35,058M in 2018 31.8% of revenue. |
MSFT_20200730 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 |
|:-------------------------------------------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|
| (In millions) | | | | | | | | |
| | | | | | | | | |
| | | | | | | | | |
| June 30, | | 2020 | | | 2019 | | | |
| | | | | | | | | |
| Assets | | | | | | | | |
| Current assets: | | | | | | | | |
| Cash and cash equivalents | | $ | 13,576 | | | $ | 11,356 | |
| Short-term investments | | | 122,951 | | | | 122,463 | |
| | | | | | | | | |
| | | | | | | | | |
| Total cash, cash equivalents, and short-term investments | | | 136,527 | | | | 133,819 | |
| Accounts receivable, net of allowance for doubtful accounts of$788and $411 | | | 32,011 | | | | 29,524 | |
| Inventories | | | 1,895 | | | | 2,063 | |
| Other current assets | | | 11,482 | | | | 10,146 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current assets | | | 181,915 | | | | 175,552 | |
| Property and equipment, net of accumulated depreciation of$43,197and $35,330 | | | 44,151 | | | | 36,477 | |
| Operating lease right-of-use assets | | | 8,753 | | | | 7,379 | |
| Equity investments | | | 2,965 | | | | 2,649 | |
| Goodwill | | | 43,351 | | | | 42,026 | |
| Intangible assets, net | | | 7,038 | | | | 7,750 | |
| Other long-term assets | | | 13,138 | | | | 14,723 | |
| | | | | | | | | |
| | | | | | | | | |
| Total assets | | $ | 301,311 | | | $ | 286,556 | |
| | | | | | | | | |
| | | | | | | | | |
| Liabilities and stockholders’ equity | | | | | | | | |
| Current liabilities: | | | | | | | | |
| Accounts payable | | $ | 12,530 | | | $ | 9,382 | |
| Current portion of long-term debt | | | 3,749 | | | | 5,516 | |
| Accrued compensation | | | 7,874 | | | | 6,830 | |
| Short-term income taxes | | | 2,130 | | | | 5,665 | |
| Short-term unearned revenue | | | 36,000 | | | | 32,676 | |
| Other current liabilities | | | 10,027 | | | | 9,351 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current liabilities | | | 72,310 | | | | 69,420 | |
| Long-term debt | | | 59,578 | | | | 66,662 | |
| Long-term income taxes | | | 29,432 | | | | 29,612 | |
| Long-term unearned revenue | | | 3,180 | | | | 4,530 | |
| Deferred income taxes | | | 204 | | | | 233 | |
| Operating lease liabilities | | | 7,671 | | | | 6,188 | |
| Other long-term liabilities | | | 10,632 | | | | 7,581 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities | | | 183,007 | | | | 184,226 | |
| | | | | | | | | |
| | | | | | | | | |
| Commitments and contingencies | | | | | | | | |
| Stockholders’ equity: | | | | | | | | |
| Common stock and paid-in capital – shares authorized24,000; outstanding7,571and7,643 | | | 80,552 | | | | 78,520 | |
| Retained earnings | | | 34,566 | | | | 24,150 | |
| Accumulated other comprehensive income (loss) | | | 3,186 | | | | (340 | ) |
| | | | | | | | | |
| | | | | | | | | |
| Total stockholders’ equity | | | 118,304 | | | | 102,330 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities and stockholders’ equity | | $ | 301,311 | | | $ | 286,556 | |
| | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 |
|:---------------------------------------------------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|
| (In millions) | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Year Ended June 30, | | 2020 | | | 2019 | | | 2018 | | | | |
| | | | | | | | | | | | | |
| Operations | | | | | | | | | | | | |
| Net income | | $ | 44,281 | | | $ | 39,240 | | | $ | 16,571 | |
| Adjustments to reconcile net income to net cash from operations: | | | | | | | | | | | | |
| Depreciation, amortization, and other | | | 12,796 | | | | 11,682 | | | | 10,261 | |
| Stock-based compensation expense | | | 5,289 | | | | 4,652 | | | | 3,940 | |
| Net recognized gains on investments and derivatives | | | (219 | ) | | | (792 | ) | | | (2,212 | ) |
| Deferred income taxes | | | 11 | | | | (6,463 | ) | | | (5,143 | ) |
| Changes in operating assets and liabilities: | | | | | | | | | | | | |
| Accounts receivable | | | (2,577 | ) | | | (2,812 | ) | | | (3,862 | ) |
| Inventories | | | 168 | | | | 597 | | | | (465 | ) |
| Other current assets | | | (2,330 | ) | | | (1,718 | ) | | | (952 | ) |
| Other long-term assets | | | (1,037 | ) | | | (1,834 | ) | | | (285 | ) |
| Accounts payable | | | 3,018 | | | | 232 | | | | 1,148 | |
| Unearned revenue | | | 2,212 | | | | 4,462 | | | | 5,922 | |
| Income taxes | | | (3,631 | ) | | | 2,929 | | | | 18,183 | |
| Other current liabilities | | | 1,346 | | | | 1,419 | | | | 798 | |
| Other long-term liabilities | | | 1,348 | | | | 591 | | | | (20 | ) |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Net cash from operations | | | 60,675 | | | | 52,185 | | | | 43,884 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Financing | | | | | | | | | | | | |
| Repayments of short-term debt, maturities of 90 days or less, net | | | 0 | | | | 0 | | | | (7,324 | ) |
| Proceeds from issuance of debt | | | 0 | | | | 0 | | | | 7,183 | |
| Cash premium on debt exchange | | | (3,417 | ) | | | 0 | | | | 0 | |
| Repayments of debt | | | (5,518 | ) | | | (4,000 | ) | | | (10,060 | ) |
| Common stock issued | | | 1,343 | | | | 1,142 | | | | 1,002 | |
| Common stock repurchased | | | (22,968 | ) | | | (19,543 | ) | | | (10,721 | ) |
| Common stock cash dividends paid | | | (15,137 | ) | | | (13,811 | ) | | | (12,699 | ) |
| Other, net | | | (334 | ) | | | (675 | ) | | | (971 | ) |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Net cash used in financing | | | (46,031 | ) | | | (36,887 | ) | | | (33,590 | ) |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Investing | | | | | | | | | | | | |
| Additions to property and equipment | | | (15,441 | ) | | | (13,925 | ) | | | (11,632 | ) |
| Acquisition of companies, net of cash acquired, and purchases of intangible and other assets | | | (2,521 | ) | | | (2,388 | ) | | | (888 | ) |
| Purchases of investments | | | (77,190 | ) | | | (57,697 | ) | | | (137,380 | ) |
| Maturities of investments | | | 66,449 | | | | 20,043 | | | | 26,360 | |
| Sales of investments | | | 17,721 | | | | 38,194 | | | | 117,577 | |
| Other, net | | | (1,241 | ) | | | 0 | | | | (98 | ) |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Net cash used in investing | | | (12,223 | ) | | | (15,773 | ) | | | (6,061 | ) |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Effect of foreign exchange rates on cash and cash equivalents | | | (201 | ) | | | (115 | ) | | | 50 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Net change in cash and cash equivalents | | | 2,220 | | | | (590 | ) | | | 4,283 | |
| Cash and cash equivalents, beginning of period | | | 11,356 | | | | 11,946 | | | | 7,663 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Cash and cash equivalents, end of period | | $ | 13,576 | | | $ | 11,356 | | | $ | 11,946 | |
| | | | | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 |
|:----------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|
| (In millions, except per share amounts) | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Year Ended June 30, | | 2020 | | | 2019 | | | 2018 | | | | |
| | | | | | | | | | | | | |
| Revenue: | | | | | | | | | | | | |
| Product | | $ | 68,041 | | | $ | 66,069 | | | $ | 64,497 | |
| Service and other | | | 74,974 | | | | 59,774 | | | | 45,863 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Total revenue | | | 143,015 | | | | 125,843 | | | | 110,360 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Cost of revenue: | | | | | | | | | | | | |
| Product | | | 16,017 | | | | 16,273 | | | | 15,420 | |
| Service and other | | | 30,061 | | | | 26,637 | | | | 22,933 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Total cost of revenue | | | 46,078 | | | | 42,910 | | | | 38,353 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Gross margin | | | 96,937 | | | | 82,933 | | | | 72,007 | |
| Research and development | | | 19,269 | | | | 16,876 | | | | 14,726 | |
| Sales and marketing | | | 19,598 | | | | 18,213 | | | | 17,469 | |
| General and administrative | | | 5,111 | | | | 4,885 | | | | 4,754 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Operating income | | | 52,959 | | | | 42,959 | | | | 35,058 | |
| Other income, net | | | 77 | | | | 729 | | | | 1,416 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Income before income taxes | | | 53,036 | | | | 43,688 | | | | 36,474 | |
| Provision for income taxes | | | 8,755 | | | | 4,448 | | | | 19,903 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Net income | | $ | 44,281 | | | $ | 39,240 | | | $ | 16,571 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Earnings per share: | | | | | | | | | | | | |
| Basic | | $ | 5.82 | | | $ | 5.11 | | | $ | 2.15 | |
| Diluted | | $ | 5.76 | | | $ | 5.06 | | | $ | 2.13 | |
| | | | | | | | | | | | | |
| Weighted average shares outstanding: | | | | | | | | | | | | |
| Basic | | | 7,610 | | | | 7,673 | | | | 7,700 | |
| Diluted | | | 7,683 | | | | 7,753 | | | | 7,794 | |
| | | | | | | | | | | | | |
---
English News:
Technology and Enterprise Leaders Combine Efforts to Improve Open Source Security New collaboration called Open Source Security Foundation (OpenSSF) consolidates industry efforts to improve the security of open source software - SAN FRANCISCO, Aug. 3, 2020 /PRNewswire/ --The Linux Foundation, today announced the formation of the Open Source Security Foundation (OpenSSF). The OpenSSF is a cross-industry collaboration that brings together leaders to improve the security of open source software (OSS) by building a broader community with targeted initiatives and best practices. It combines efforts from the Core Infrastructure Initiative, GitHub's Open Source Security Coalition and other open source security work from founding governing board members GitHub, Google, IBM, JPMorgan Chase, Microsoft, NCC Group, OWASP Foundation and Red Hat, among others. Additional founding members include ElevenPaths, GitLab, HackerOne, Intel, Okta, Purdue, SAFECode, StackHawk, Trail of Bits, Uber and VMware. Open source software has become pervasive in data centers, consumer devices and services, representing its value among technologists and businesses alike. Because of its development process, open source that ultimately reaches end users has a chain of contributors and dependencies. It is important that those responsible for their user or organization's security are able to understand and verify the security of this dependency chain. The OpenSSF brings together the industry's most important open source security initiatives and the individuals and companies that support them. The Linux Foundation's Core Infrastructure Initiative (CII), founded in response to the 2014 Heartbleed bug, and the Open Source Security Coalition, founded by the GitHub Security Lab, are just a couple of the projects that will be brought together under the new OpenSSF. The Foundation's governance, technical community and its decisions will be transparent, and any specifications and projects developed will be vendor agnostic. The OpenSSF is committed to collaboration and working both upstream and with existing communities to advance open source security for all. \We believe open source is a public good and across every industry we have a responsibility to come together to improve and support the security of open source software we all depend on," said Jim Zemlin, executive director at The Linux Foundation. "Ensuring open source security is one of the most important things we can do, and it requires all of us around the world to assist in the effort. The OpenSSF will provide that forum for a truly collaborative, cross-industry effort." With the formalization of the group, the open governance structure is established and includes a Governing Board (GB), a Technical Advisory Council (TAC) and a separate oversight for each working group and project. OpenSSF intends to host a variety of open source technical initiativesto support security for the world's most critical open source software, all of which will be done in the open on GitHub. For more information and to contribute to the project, please visit https://openssf.org ResourcesThreats, Risks & Mitigations of the Open Source Ecosystem, Open Source Security CoalitionVulnerabilities in the Core, Harvard's Lab for Innovation Science and Linux FoundationRed Hat Product Security Risk Report, Red Hat Governing Board Member QuotesGitHub"Every industry is using open source software, and it is our collective responsibility to help maintain a healthy and secure ecosystem," said Jamie Cool, Vice President of Product Management, Security at GitHub. "GitHub founded the Open Source Security Coalition in 2019 to bring together industry leaders around this mission and ensure the consumption of open source software is something that all developers can do with confidence. We look forward to this next step in the evolution of the coalition and serving as a founding member of the Open Source Security Foundation." Read more in GitHub's blog. Google"Security is always top of mind for Google and our users. We have developed robust internal security tools and systems for consuming open source software internally, for our users, and for our OSS-based products. We believe in building safer products for everyone with far-reaching impacts, and we are excited to work with the broader community through the OpenSSF. We look forward to sharing our innovations and working together to improve the security of open source software we all depend on," said Director of Product Security, Google Cloud, James Higgins. IBM"Open source has become mainstream in the enterprise. As such, the security of the open source supply-chain is of paramount importance to IBM and our clients," said Christopher Ferris, IBM Fellow and CTO Open Technology. "The launch of the Open Source Security Foundation marks an important step towards giving open source communities the information and tools they need to improve their secure engineering practices, and the information developers need to choose their open source wisely." JPMorgan Chase"Developing, growing and using open source software is a top priority for JPMorgan Chase. We are committed to partner with the community through the Open Source Security Foundation to ensure trust and security in open source software for everyone," stated Lori Beer, Global Chief Information Officer, JPMorgan Chase. Microsoft"As open source is now core to nearly every company's technology strategy, securing open source software is an essential part of securing the supply chain for every company, including our own," said Mark Russinovich, Chief Technology Officer, Microsoft Azure. "As with everything open source, building better security is a community-driven process. All of us at Microsoft are excited to be a founding member of the Open Source Security Foundation and we look forward to partnering with the community to create new security solutions that will help us all." Read more in Microsoft's blog. NCC Group"The security and privacy of the internet is essential for the protection of individuals, organizations and critical infrastructure, and also the future of democracy and our civil liberties. Given the fundamental role open source plays in powering our world, creating scalable resources and tools to help software maintainers, developers, and users understand and improve their projects' security is a significant step toward a safer and more secure world. By bringing together a dedicated group of technologists with a shared desire to improve the security of open source software, together we can begin to remediate - or even prevent - security vulnerabilities at a scale not previously possible," stated Jennifer Fernick, Head of Research at global cyber security expert NCC Group." OWASP"Joining the Linux Foundation and the Open Source Security Foundation is central to our mission to advance the state of application security, especially as OpenSSF is already aligned with OWASP's core philosophies of openness, transparency and innovation," said Andrew van der Stock, Executive Director of OWASP, the Open Web Application Security Project. "We look forward to working with all of the participating organizations to improve the state of software security and work together on projects of vital interest to software developers, organizations, and governments around the world." Red Hat"Red Hat is unrelenting in our commitment to open source and in participating to make upstream projects successful. We believe security is an essential part of healthy project communities," said Chris Wright, CTO of Red Hat. "Now, more than ever, is the time for us to join together with other leaders to help ensure key projects are secure and consumable in our products, across enterprises, and as part of the hybrid cloud. We are excited to help found this Open Source Software Foundation." Additional Founding Member QuotesElevenPaths"The security of an enterprise application or services depends mainly on the security of all its components. The vast majority of business applications and services are not fully developed in-house as they make use of open source components that help accelerate the development cycle and extend their functionality. Therefore, it is essential to ensure that all open source components comply with the best practices of secure development and periodic reviews are carried out to positively impact all software that makes use of these components. Joining the Open Source Security Foundation is fully aligned with our vision and principles." GitLab"GitLab is excited to play a part in the creation of the Open Source Security Foundation (OpenSSF) to further cross-industry collaboration and move the security of open source projects forward as it is key to the future of technology," said David DeSanto, director of product for Secure and Defend at GitLab. "Aligning with GitLab's mission of 'everyone can contribute,' we look forward to supporting and contributing to the community to bring together security-conscious developers to change open source development in a collaborative and fundamental way." HackerOne"Open source software powers HackerOne," said Reed Loden, Head of Open Source Security, HackerOne. "It powers our software, our infrastructure, and our model for engaging with our community. As part of our mission to make the internet safer, we want to make it easier for open source projects to remain secure. For over three years, we've given the open source community our platform for free, and we've been long-time supporters of initiatives like Internet Bug Bounty. Joining the Linux Foundation and the Open Source Security Foundation allows us to continue on our mission and make the internet safer alongside some of the foremost visionaries in security. We look forward to seeing the change we can make together." Intel"It takes the industry working together to advance technology and accelerate open source security initiatives. Hardware and software are inextricably linked to deliver security, transparency and trust in open source software. Together with the OpenSSF, Intel will continue to play a key role in mobilizing the industry at large and solving security challenges from the cloud to the edge," said Anand Pashupathy, GM of System Security Software, Intel. SAFECode"Open source software is a major component in today's software supply chain and thus comprises a significant fraction of the software that individuals and organizations rely upon. Supporting the secure development of open source software is of critical importance to SAFECode members and the software community," said Steve Lipner, executive director of SAFECode. "We are looking forward to bringing our software security experience to bear as we participate in the Open Source Security Foundation's mission to build a collaborative, cross-industry community to support the security of open source software." StackHawk"The use of open source has undoubtedly reached critical mass, with ever increasing dependency trees and software complexity. Equipping engineering teams to deliver secure applications simply and scalably is core to our mission at StackHawk. We are excited to be one of the founding members of the Open Source Security Foundation to ensure that this can be a reality across software development as a whole and look forward to continued partnership with the community," said StackHawk's Founder & CEO, Joni Klippert. Uber"Security and Privacy is always top of mind at Uber to ensure we are responsible stewards of our user's data. We're always focused on mitigating all types of software vulnerabilities and as such the security of open source software is a top priority. Historically, we've worked with other industry leaders to help build a strong security community around open source software and we are excited to expand those efforts with the OpenSSF," said Rob Fletcher, Sr Manager, Security Engineering. VMware"Strengthening the security posture, policies, and processes in the open source community and in widely used open source projects is strengthening the whole software ecosystem - for all players," said Joshua Lock, security tech lead, Open Source Technology Center, VMware. "VMware strongly supports the goal of making our software ecosystem more resilient and more secure." About the Linux FoundationFounded in 2000, the Linux Foundation is supported by more than 1,000 members and is the world's leading home for collaboration on open source software, open standards, open data, and open hardware. Linux Foundation's projects are critical to the world's infrastructure including Linux, Kubernetes, Node.js, and more. The Linux Foundation's methodology focuses on leveraging best practices and addressing the needs of contributors, users and solution providers to create sustainable models for open collaboration. For more information, please visit us at linuxfoundation.org. The Linux Foundation has registered trademarks and uses trademarks. For a list of trademarks of The Linux Foundation, please see our trademark usage page: https://www.linuxfoundation.org/trademark-usage. Linux is a registered trademark of Linus Torvalds. Media ContactJennifer CloerreTHINKit Media503-867-2304[emailprotected] SOURCE The Linux Foundation Related Links www.linuxfoundation.org",
Chinese News:
北京时间8月3日早上，微软官方发表声明称，将继续讨论收购TikTok美国业务的事宜。这份声明显示，微软不单要收购TikTok美国业务，还包括“在加拿大、澳大利亚和新西兰购买TikTok服务”，相关谈判最迟在9月15日完成。收购涉及四个地区的TikTok服务 微软公司的声明称，将继续寻求收购TikTok在美业务的可能，这是微软首席执行官萨蒂亚纳德拉和美国总统特朗普讨论后作出的决定。微软将在几周内迅速与TikTok的母公司字节跳动展开谈判，并且，相关谈判最迟将在2020年9月15日完成。声明称，与字节跳动的谈判将以微软和字节跳动向美国外国投资委员会(CFIUS)发出的通知为基础。目前两家公司已经形成了一个初步的设想，包括在美国、加拿大、澳大利亚和新西兰购买TikTok服务，最终将使得微软在这些市场拥有和运营TikTok。此外，微软可能会邀请其他美国投资者以少数股权参与此次收购。微软表示，将确保TikTok美国用户的数据储存于美国境内，并删除储存在其他地方的美国数据。公司补充道，微软将继续与美国政府和美国总统特朗普保持沟通，针对特朗普的意见作出回应。微软的“社交”恐惧？截至记者发稿时，美股盘前微软涨幅为1.78%，盘前股价为208.65美元。截至美股上周五收盘，微软总市值为1.55万亿美元。7月底，微软发布了2020财年第四财季及全年财报。报告显示，微软第四财季营收为380.33亿美元，同比增长13%；净利润为112.02亿美元，同比下降15%。其中，云业务、游戏等贡献巨大，在疫情期间获得较大增长。但旗下职业社交网站Linkedln的业务却受到冲击。实际上，微软对互联网社交业务的运营能力一直备受质疑。微软曾经的即时通信工具MSN Messenger，对于众多中国用户来说并不陌生。公开资料显示，MSN Messenger在1999年7月正式上线，到2001年3月该业务在全世界范围就达到了3000万在线用户，2005年5月正式进入中国市场。然而，好景不长。随着各大互联网公司陆续推出不同类型的社交工具，MSN的市场逐渐被蚕食。尤其智能手机普及后，使用MSN的用户更少。2013年微软宣布，关闭全球范围除了中国市场外的MSN。不过，一年后，中国MSN亦正式关闭，所有用户可以转向早先微软收购的Skype。目前Skype的普及程度也“肉眼可见”的不高。业内分析指，微软本身是一家软件公司，讲求自身平台的整合性和技术，并非以应用和场景为导向。
Japanese News:
"米Microsoftが7月22日（現地時間）に発表した第4四半期（2020年4～6月期）の決算は、売上高は13％増の380億ドル、純利益は15％減の108億ドル（1株当たり1ドル46セント）だった。コロナ禍による“巣ごもり需要”で、XboxとSurfaceが好調だった。 売上高、純利益ともにアナリスト予測（売上高は365億ドル、1株当たりの純利益は1ドル34セント）を上回った。 新型コロナウイルス感染症対策でユーザーが自宅で仕事や学習をする状態が続くにつれてクラウドの需要が増加し、WindowsのOEM、Surface、ゲーム事業の需要が伸びたが、中小企業のライセンス契約が鈍化し、傘下のLinkedInは雇用市場の鈍化と広告の減少によって悪影響を受けたと説明した。 サティア・ナデラCEOは発表文で「（コロナ禍の）過去5カ月で、テクノロジーの強度がビジネス回復力の鍵であることが明らかになった。デジタル化を確立している企業ほど、この危機から早く確実に脱出できるだろう。Microsoftは統合された最新テクノロジーを備える唯一の企業として、企業が顧客ニーズへの対応を再考するのを支援していく」と語った。 Azureやサーバー製品を担うIntelligent Cloud部門全体の売上高は17％増の133億7000万ドルだった。Azureの売上高は47％増。前期は59％増だった。 OfficeやLinkedIn、Dynamicsを扱うProductivity and Business Processes部門の売上高は6％増の117億5000万ドルだった。企業向けOffice 365の売上高は19％増、コンシューマー向けOffice 365のサブスクリプション数は23％増の4270万人だった。クラウドではない方のOfficeの売上高は34％減だった。LinkedInの売上高は10％増。LinkedInは21日、960人のリストラを発表した。 Windows、ハードウェア、Xbox、検索のMore Personal Computing部門の売上高は14％増の129億1000万ドルだった。Xboxのコンテンツとサービスの売上高が65％増と好調。Surfaceも28％増だった。検索（Bing）の売上高は広告減少で18％減。また、すべてのMicrosoft Storeの実店舗を閉鎖したため、営業コストが10％増加した。"
Spanish News:
"La multinacional estadounidense de software y servicios informáticos Microsoft anunció este miércoles unos beneficios netos de 44.281 millones de dólares en el conjunto de su ejercicio 2020, un 13 % más que en el mismo periodo del año pasado, impulsado por la nube inteligente y pese al cierre de sus tiendas por el Covid-19. El gigante tecnológico dirigido por el ejecutivo Satya Nadella facturó 143.015 millones de dólares en los últimos 12 meses, lo que representa casi un 14 % más que en el ejercicio 2019, y los accionistas se embolsaron 5,76 dólares por acción, frente a los 5,06 de hace un año. Microsoft señaló que su negocio en la nube ha superado los 50.000 millones de dólares en ingresos anuales por primera vez en la historia, a lo que Nadella agregó al dar cuenta de los resultados que «las organizaciones que creen su propia capacidad digital se recuperarán más rápido y saldrán reforzados de la crisis». En cuanto al cuarto trimestre de 2020, el más seguido por los analistas de Wall Street, la compañía obtuvo unas ganancias de 11.202 millones de dólares, un 15 % menos que en el mismo periodo del ejercicio anterior, tras registrar un cargo de 450 millones por el cierre de todas sus tiendas físicas. Por su parte, las ventas entre abril y junio ascendieron a 38.033 millones de dólares, lo que representa casi un 13 % más que en ese tramo 2019, mientras los accionistas se embolsaron 1,46 dólares por acción , frente a los 1,71 de hace un año. Microsoft señaló los buenos resultados de su negocios de Productividad, Procesos de Negocio y Nube Inteligente en este último trimestre ya que «los clientes han seguido trabajando y aprendiendo en casa» debido a la pandemia y eso ha generado un mayor uso y demanda de sus sistemas y productos . En concreto, el segmento de la Nube Inteligente ha tenido la mayor recaudación de su cartera este 2020, con unas ventas de 48.366 millones de dólares (un 24 % más interanual), y solo en este último trimestre la plataforma Azure aumentó su facturación un 47 % , una cifra notable aunque con signos de desaceleración respecto al periodo previo. Le siguió de cerca el segmento de Computación Personal, con 48.251 millones (casi un 6 % más), que se benefició de una mayor demanda en las áreas de Windows, Surface y Gaming ; y el de Productividad y Procesos de Negocio, con 46.398 millones (casi un 13 % más), impulsado por el paquete Office 365. Los resultados de Microsoft fueron divulgados al cierre de la Bolsa de Nueva York y en las operaciones electrónicas sus acciones caían casi un 3 % , pese a superar las expectativas de los analistas. Desde el comienzo de 2020, Microsoft se ha revalorizado más del 34 % en bolsa y su capitalización de mercado llega a 1,58 billones de dólares , una de las más grandes por detrás de Apple."
Greek News:
"Η Microsoft εντείνει τις επενδύσεις της στην καινοτομία και την ασφάλεια, ενισχύοντας τη θέση της σαν εταιρία κολοσσός στον τεχνολογικό κλάδο. Στο πλαίσιο αυτό, ανακοίνωσε την αύξηση της μέγιστης επιβράβευσης στο πρόγραμμα ""bug bounty"" για το Windows Insider Preview στα 100.000 δολάρια. Η κίνηση αυτή συνοδεύεται από τη διευκόλυνση της διαδικασίας υποβολής ευρημάτων για ερευνητές ασφαλείας που εντοπίζουν ευπάθειες σε βασικά προϊόντα όπως ο Microsoft Edge, το Windows Defender Application Guard, το Hyper-V και τις τεχνολογίες Mitigation Bypass. Παράλληλα, η εταιρεία κατέγραψε αύξηση κατά 14% στις δαπάνες για έρευνα και ανάπτυξη το οικονομικό έτος 2020, φτάνοντας τα 2,4 δισεκατομμύρια δολάρια περισσότερα σε σχέση με το 2019. Η ενίσχυση αυτή αποδίδεται κυρίως σε στρατηγικές επενδύσεις σε τομείς όπως το cloud engineering, το LinkedIn, τις ηλεκτρονικές συσκευές και τα βιντεοπαιχνίδια. Στις 28 Ιουλίου 2020, η Microsoft προχώρησε και σε νέα στρατηγική συνεργασία με τη Mastercard, με στόχο την επιτάχυνση της καινοτομίας στο ψηφιακό εμπόριο και την υποστήριξη των υπηρεσιών cloud. Μέσω της αξιοποίησης τεχνολογιών AI αλλά και της υπηρεσίας Azure, η συνεργασία στοχεύει στην καινοτομία, κυρίως στον κλάδο του fintech αλλά και τον κλάδο του digital commerce. Η πολυδιάστατη στρατηγική της Microsoft αποτυπώνει μια σαφή στροφή προς την ενίσχυση της τεχνολογικής υπεροχής που έχει επιδείξει τα τελευταία χρόνια αλλά και της ψηφιακής ασφάλειας, εδραιώνοντας την επιρροή της σε κρίσιμους τομείς της ψηφιακής οικονομίας."
Question:
What are the company's capital expenditures and their strategic significance from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | What are the company's capital expenditures and their strategic significance from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: Microsoft's capital expenditures were $15,441M in 2020, up from $13,925M in 2019 and $11,632M in 2018. These investments strategically focus on cloud infrastructure expansion supporting the 47% Azure growth, gaming ecosystem development, and hardware innovation Surface devices, aligning with their shift toward cloud-based services.
Financial Statement Evidence: "Additions to property and equipment" Capital expenditures: $15,441M in 2020, $13,925M in 2019, $11,632M in 2018. "Acquisition of companies, net of cash acquired, and purchases of intangible and other assets": $2,521M in 2020, $2,388M in 2019, $888M in 2018. |
MSFT_20201027 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 |
|:-------------------------------------------------------------------------------------|:-----------|:------------------|:-----------|:-----------|:-------------|:-----------|:-----------|:-----------|
| (In millions) (Unaudited) | | | | | | | | |
| | | | | | | | | |
| | | | | | | | | |
| | | September 30,2020 | | | June 30,2020 | | | |
| | | | | | | | | |
| Assets | | | | | | | | |
| Current assets: | | | | | | | | |
| Cash and cash equivalents | | $ | 17,205 | | | $ | 13,576 | |
| Short-term investments | | | 120,772 | | | | 122,951 | |
| | | | | | | | | |
| | | | | | | | | |
| Total cash, cash equivalents, and short-term investments | | | 137,977 | | | | 136,527 | |
| Accounts receivable, net of allowance for doubtful accounts of$610and $788 | | | 22,851 | | | | 32,011 | |
| Inventories | | | 2,705 | | | | 1,895 | |
| Other current assets | | | 13,544 | | | | 11,482 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current assets | | | 177,077 | | | | 181,915 | |
| Property and equipment, net of accumulated depreciation of$45,417and $43,197 | | | 47,927 | | | | 44,151 | |
| Operating lease right-of-use assets | | | 9,047 | | | | 8,753 | |
| Equity investments | | | 3,103 | | | | 2,965 | |
| Goodwill | | | 43,890 | | | | 43,351 | |
| Intangible assets, net | | | 6,923 | | | | 7,038 | |
| Other long-term assets | | | 13,034 | | | | 13,138 | |
| | | | | | | | | |
| | | | | | | | | |
| Total assets | | $ | 301,001 | | | $ | 301,311 | |
| | | | | | | | | |
| | | | | | | | | |
| Liabilities and stockholders’ equity | | | | | | | | |
| Current liabilities: | | | | | | | | |
| Accounts payable | | $ | 12,509 | | | $ | 12,530 | |
| Current portion of long-term debt | | | 6,497 | | | | 3,749 | |
| Accrued compensation | | | 5,714 | | | | 7,874 | |
| Short-term income taxes | | | 2,384 | | | | 2,130 | |
| Short-term unearned revenue | | | 33,476 | | | | 36,000 | |
| Other current liabilities | | | 9,476 | | | | 10,027 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current liabilities | | | 70,056 | | | | 72,310 | |
| Long-term debt | | | 57,055 | | | | 59,578 | |
| Long-term income taxes | | | 28,204 | | | | 29,432 | |
| Long-term unearned revenue | | | 2,829 | | | | 3,180 | |
| Deferred income taxes | | | 187 | | | | 204 | |
| Operating lease liabilities | | | 7,753 | | | | 7,671 | |
| Other long-term liabilities | | | 11,525 | | | | 10,632 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities | | | 177,609 | | | | 183,007 | |
| | | | | | | | | |
| | | | | | | | | |
| Commitments and contingencies | | | | | | | | |
| Stockholders’ equity: | | | | | | | | |
| Common stock and paid-in capital – shares authorized24,000; outstanding7,564and7,571 | | | 81,089 | | | | 80,552 | |
| Retained earnings | | | 39,193 | | | | 34,566 | |
| Accumulated other comprehensive income | | | 3,110 | | | | 3,186 | |
| | | | | | | | | |
| | | | | | | | | |
| Total stockholders’ equity | | | 123,392 | | | | 118,304 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities and stockholders’ equity | | $ | 301,001 | | | $ | 301,311 | |
| | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 |
|:---------------------------------------------------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|
| (In millions) (Unaudited) | | | | | | | | |
| | | | | | | | | |
| | | | | | | | | |
| Three Months Ended September 30, | | 2020 | | | 2019 | | | |
| | | | | | | | | |
| Operations | | | | | | | | |
| Net income | | $ | 13,893 | | | $ | 10,678 | |
| Adjustments to reconcile net income to net cash from operations: | | | | | | | | |
| Depreciation, amortization, and other | | | 2,645 | | | | 2,971 | |
| Stock-based compensation expense | | | 1,456 | | | | 1,262 | |
| Net recognized losses (gains) on investments and derivatives | | | (128 | ) | | | 11 | |
| Deferred income taxes | | | (11 | ) | | | (177 | ) |
| Changes in operating assets and liabilities: | | | | | | | | |
| Accounts receivable | | | 8,843 | | | | 10,090 | |
| Inventories | | | (808 | ) | | | (561 | ) |
| Other current assets | | | (54 | ) | | | (438 | ) |
| Other long-term assets | | | (62 | ) | | | (333 | ) |
| Accounts payable | | | 315 | | | | (547 | ) |
| Unearned revenue | | | (3,064 | ) | | | (2,892 | ) |
| Income taxes | | | (983 | ) | | | (3,336 | ) |
| Other current liabilities | | | (2,951 | ) | | | (3,320 | ) |
| Other long-term liabilities | | | 244 | | | | 410 | |
| | | | | | | | | |
| | | | | | | | | |
| Net cash from operations | | | 19,335 | | | | 13,818 | |
| | | | | | | | | |
| | | | | | | | | |
| Financing | | | | | | | | |
| Repayments of debt | | | 0 | | | | (2,500 | ) |
| Common stock issued | | | 545 | | | | 427 | |
| Common stock repurchased | | | (6,743 | ) | | | (4,912 | ) |
| Common stock cash dividends paid | | | (3,856 | ) | | | (3,510 | ) |
| Other, net | | | (235 | ) | | | 286 | |
| | | | | | | | | |
| | | | | | | | | |
| Net cash used in financing | | | (10,289 | ) | | | (10,209 | ) |
| | | | | | | | | |
| | | | | | | | | |
| Investing | | | | | | | | |
| Additions to property and equipment | | | (4,907 | ) | | | (3,385 | ) |
| Acquisition of companies, net of cash acquired, and purchases of intangible and other assets | | | (481 | ) | | | (462 | ) |
| Purchases of investments | | | (14,580 | ) | | | (23,390 | ) |
| Maturities of investments | | | 14,266 | | | | 19,082 | |
| Sales of investments | | | 2,414 | | | | 6,379 | |
| Other, net | | | (2,083 | ) | | | 0 | |
| | | | | | | | | |
| | | | | | | | | |
| Net cash used in investing | | | (5,371 | ) | | | (1,776 | ) |
| | | | | | | | | |
| | | | | | | | | |
| Effect of foreign exchange rates on cash and cash equivalents | | | (46 | ) | | | (72 | ) |
| | | | | | | | | |
| | | | | | | | | |
| Net change in cash and cash equivalents | | | 3,629 | | | | 1,761 | |
| Cash and cash equivalents, beginning of period | | | 13,576 | | | | 11,356 | |
| | | | | | | | | |
| | | | | | | | | |
| Cash and cash equivalents, end of period | | $ | 17,205 | | | $ | 13,117 | |
| | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 |
|:----------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|
| (In millions, except per share amounts) (Unaudited) | | | | | | | | |
| | | | | | | | | |
| | | | | | | | | |
| Three Months Ended September 30, | | 2020 | | | 2019 | | | |
| | | | | | | | | |
| Revenue: | | | | | | | | |
| Product | | $ | 15,803 | | | $ | 15,768 | |
| Service and other | | | 21,351 | | | | 17,287 | |
| | | | | | | | | |
| | | | | | | | | |
| Total revenue | | | 37,154 | | | | 33,055 | |
| | | | | | | | | |
| | | | | | | | | |
| Cost of revenue: | | | | | | | | |
| Product | | | 3,597 | | | | 3,305 | |
| Service and other | | | 7,405 | | | | 7,101 | |
| | | | | | | | | |
| | | | | | | | | |
| Total cost of revenue | | | 11,002 | | | | 10,406 | |
| | | | | | | | | |
| | | | | | | | | |
| Gross margin | | | 26,152 | | | | 22,649 | |
| Research and development | | | 4,926 | | | | 4,565 | |
| Sales and marketing | | | 4,231 | | | | 4,337 | |
| General and administrative | | | 1,119 | | | | 1,061 | |
| | | | | | | | | |
| | | | | | | | | |
| Operating income | | | 15,876 | | | | 12,686 | |
| Other income, net | | | 248 | | | | 0 | |
| | | | | | | | | |
| | | | | | | | | |
| Income before income taxes | | | 16,124 | | | | 12,686 | |
| Provision for income taxes | | | 2,231 | | | | 2,008 | |
| | | | | | | | | |
| | | | | | | | | |
| Net income | | $ | 13,893 | | | $ | 10,678 | |
| | | | | | | | | |
| | | | | | | | | |
| Earnings per share: | | | | | | | | |
| Basic | | $ | 1.84 | | | $ | 1.40 | |
| Diluted | | $ | 1.82 | | | $ | 1.38 | |
| | | | | | | | | |
| Weighted average shares outstanding: | | | | | | | | |
| Basic | | | 7,566 | | | | 7,634 | |
| Diluted | | | 7,637 | | | | 7,710 | |
| | | | | | | | | |
---
English News:
"""Cincom Systems, Inc. has partnered with Reenhanced to implement CPQSync, a cloud-based solution designed to enhance the configure-price-quote process within Microsoft Dynamics 365. This partnership aims to help businesses maximize their investments in Microsoft Dynamics 365 by integrating CPQSync, which is fully embedded within the platform and leverages Microsoft Azure and Power Platform. The solution promises to streamline sales processes, eliminate informational silos, and improve cross-departmental collaboration. This collaboration could potentially increase the value proposition of Microsoft Dynamics 365, making it a more attractive option for businesses seeking comprehensive CRM solutions. Investors in Microsoft (MSFT) may view this partnership as a positive development, potentially driving increased adoption and customer satisfaction for Microsoft Dynamics 365. (Sentiment: positive)"", ""Vyopta has expanded its support to include Poly's latest Studio X Series and G7500 room systems, enhancing real-time monitoring and troubleshooting capabilities for these devices. This update also improves support for Poly's Trio devices and continues to support older endpoints, ensuring comprehensive visibility across all deployed endpoints. The new capabilities allow Poly's Studio X Series to natively register with Zoom and Microsoft Teams, facilitating seamless integration with leading UCaaS solutions. This development underscores Vyopta's commitment to supporting Microsoft Teams, which could enhance user experience and performance for enterprises using Microsoft's UCaaS solutions. The expanded support and integration could potentially drive increased adoption and satisfaction of Microsoft Teams among large enterprises, making it a positive indicator for Microsoft's UCaaS market position. (Sentiment: positive)"", ""American Capital Group (ACG) and Artemis Real Estate Partners have formed a joint venture to acquire two multifamily development projects in the Pacific Northwest, specifically in Kirkland, WA, and Hillsboro, OR. These areas are experiencing rapid population and job growth, driven by high-paying technology jobs from major employers like Microsoft, Amazon, Google, and Facebook. The Lifebridge Kirkland Apartments project, located in the Innovation Triangle near Microsoft's headquarters, will feature 409 residential units and is expected to be completed by Q2 2021. The Amberglen Apartments in Hillsboro, home to Intel and IBM, will offer 352 residential units and is slated for completion by Q4 2021. These investments highlight the growing demand for affordable, high-quality housing in tech-driven suburban markets, which could positively impact the local real estate market and indirectly benefit companies like Microsoft by attracting more talent to the area. (Sentiment: positive)"", ""The Identity and Access Management (IAM) market is projected to grow from USD 11.82 billion in 2019 to USD 29.79 billion by 2027, at a CAGR of 13.21%. Key growth drivers include increased spending on security solutions by government bodies and large enterprises to combat identity theft and comply with regulations, as well as the rising need for IAM in IoT applications. Major players in the market include Microsoft Corporation, Sailpoint Technologies, Oracle Corporation, Dell EMC, and IBM Corporation. IAM solutions are essential for providing secure, consistent, and enhanced user experiences, which is crucial for both SMEs and large enterprises. This growth potential and Microsoft's significant presence in the IAM market make it a compelling investment opportunity. (Sentiment: positive)"", ""The Global Blockchain in Aerospace & Defense Market is projected to grow significantly from USD 941.36 million in 2019 to USD 7,809.18 million by 2025, at a CAGR of 42.27%. Key application areas include certifications, digital ID, provenance, smart contracts, and tokenization, with significant growth opportunities across the Americas, Asia-Pacific, and Europe, Middle East & Africa. Microsoft Corporation is highlighted as a leading vendor, indicating its strong position and potential for growth in this market. The report emphasizes the impact of COVID-19 on market dynamics, including changes in consumer behavior and supply chain disruptions. Investment opportunities are identified in emerging markets, new product developments, and strategic moves such as mergers and acquisitions. (Sentiment: positive)"", ""The Global Blockchain in Energy Market is projected to grow significantly from USD 524.22 million in 2019 to USD 4,830.84 million by 2025, at a CAGR of 44.79%. Key segments include components (Platform and Services), types (Private and Public), end-users (Oil and Gas, Power Sector), and applications (Energy Trading, Grid Management, etc.). Microsoft, among other leading vendors, is highlighted for its significant developments and innovation in this market. The report emphasizes the impact of COVID-19 on market dynamics, consumer behavior, and supply chains. Investment opportunities are identified in emerging markets, new product launches, and strategic moves like mergers and acquisitions. (Sentiment: positive)"", ""The Global Blockchain Technology in Healthcare Market is projected to grow significantly from USD 5,475.81 million in 2019 to USD 38,747.63 million by 2025, at a CAGR of 38.55%. Key segments include Claims Adjudication & Billing Management, Clinical Data Exchange & Interoperability, and Supply Chain Management, with major end users being Healthcare Payers, Providers, and Pharmaceutical Companies. Microsoft Corporation is highlighted as a leading vendor, indicating its strong position and potential for growth in this market. The report also emphasizes the impact of COVID-19 on market dynamics, including changes in consumer behavior and supply chain disruptions. Investment opportunities are identified in emerging markets, new product developments, and strategic moves such as mergers and acquisitions. (Sentiment: positive)"", ""The Global Blockchain-as-a-Service (BaaS) Market is projected to grow significantly from USD 755.34 million in 2019 to USD 9,334.19 million by 2025, at a CAGR of 52.05%. Key players in this market include Microsoft Corporation (MSFT), IBM, Oracle, and SAP, among others. The report highlights the impact of COVID-19 on market dynamics, including changes in consumer behavior, supply chain disruptions, and government interventions. Microsoft's strong positioning in the market is supported by its comprehensive business strategy and product satisfaction, making it a favorable investment opportunity. The report also emphasizes the importance of market penetration, development, and diversification strategies for future growth. (Sentiment: positive)"", ""The global Cloud Automation market is projected to grow from $35.5 billion in 2020 to $149.9 billion by 2027, with a CAGR of 22.8%. The public cloud segment is expected to grow at a 24% CAGR, while the private cloud segment is readjusted to a 20.7% CAGR. The U.S. market is estimated at $10.6 billion in 2020, with China forecasted to grow at a 22.3% CAGR, reaching $26.1 billion by 2027. Key competitors in the market include Microsoft Corporation, Amazon Web Services, Google Cloud Platform, and others. This rapid growth and competitive landscape highlight significant investment opportunities in cloud automation, particularly for major players like Microsoft. (Sentiment: positive)"", ""BrainSell has partnered with Aircall to offer cloud-based phone systems to growth-focused businesses in North America, emphasizing the importance of integrating telephony with CRM, marketing automation, and customer support systems. This partnership aims to streamline call tracking and enhance productivity by providing features like click-to-dial, sales dialers, and smart IVR directories. The integration capabilities with major platforms such as SugarCRM, Zendesk, Microsoft Dynamics, SalesLoft, Salesforce, and HubSpot are highlighted, potentially increasing the value proposition for Microsoft Dynamics users. Aircall's cloud-based system is designed for easy setup, use, and scalability, which aligns with BrainSell's focus on faster adoption and ROI. This collaboration could drive increased adoption of cloud-based telephony solutions, benefiting companies that leverage Microsoft Dynamics for their business operations. (Sentiment: positive)"", ""AgilePoint has launched version 8.0 of its digital process automation PaaS, designed for users with minimal coding experience, featuring a revamped user interface and enhanced functionality. Key updates include a centralized Work Center, a guided App Builder Wizard, automated application generation from Excel, and a robust business intelligence module. The platform now integrates with ServiceNow, Jira, Microsoft Power Automate, and Ethereum Blockchain, expanding its extensive list of over 70 out-of-the-box integrations. This release aims to support the growth of Citizen Developers and enable scalable business automation for organizations of all sizes. AgilePoint's advancements could potentially enhance the ecosystem of Microsoft Power Automate, making it a relevant consideration for investors in Microsoft. (Sentiment: positive)"" "
Chinese News:
全球疫情带来的居家办公进一步助推了微软业绩。10月27日，微软发布2021财年一季报，在截至9月30日的3个月中，微软营收增长12%至372亿美元，净利润138.9亿美元，财务数据都高于华尔街预期。软股价涨1.51%，报收213.25美元。推动微软股价上涨最重要的原因是微软云计算服务Azure的更新。微软介绍，受微软云服务Azure营收增长48%的提振，公司的服务器产品和云服务综合营收增长了22%。Azure在微软所属的单元“智能云”营收130亿美元，比去年同期增长20%，它也成为微软本季度表现最好的三个单元之一。路透社称，微软将几套软件和服务，如Office和Azure，打包为“商业云”，投资者密切关注该指标来评估其向大型企业的销售进展。微软的商业云业务毛利率为71%，上年同期为66%。另外表现最好的两个单元中，其一是包括了Office办公软件和职场社交平台领英(LinkedIn)的“生产力与商业流程”——营收123亿美元，同比增长11%；其二是包括了Windows系统和Xbox游戏机的“更个性化的计算”——营收118亿美元，同比增长 6%。微软第三季度财报中还有一些亮点：Surface笔记本电脑营收比去年同期增长37%；必应搜索(Bing)收入下降，公司称这是因为剔除了流量获取开支的搜索广告收入减少了10%；商业云营收152亿美元，比去年同期增长31%；领英的季度营收增长16%；游戏营收比去年同期增长22%。在消费者PC端的需求上，非专业Windows电脑代工生产(OEM)比去年同期营收增长31%，但专业Windows电脑的产品线代工生产同比下降22%。所有门类加上后，微软代工生产收入总体降低了5%。微软的视频会议协作软件Teams用户数量也大幅增加。微软CEO纳德拉称，Teams现在的日活跃用户超过1.15亿，4月份的日活跃用户为7500万。《华尔街日报》援引纳德拉的话称，很明显，人们在工作的时间、地点和方式上将需要更多灵活性。他表示：“下一个十年企业的经济表现将取决于它们数字化转型的速度。”报道还称，微软预计，新冠疫情时期云计算服务、电子游戏和电脑需求的激增至少会在今年剩余时间持续。
Japanese News:
"ニューヨーク（ＣＮＮ Ｂｕｓｉｎｅｓｓ） 米マイクロソフトが２７日発表した７～９月期の決算は、売上高が市場予想を大きく上回るなど、クラウドサービスやゲームの需要拡大を反映した好調な内容となった。 ７～９月期の売上高は３７２億ドル（約３兆８８００億円）と、市場予想の３５８億ドルを大幅に上回った。 インテリジェント・クラウド部門は売上高１３０億ドルと、前年同期比２０％増。特にクラウドサービス「Ａｚｕｒｅ（アジュール）」の売り上げは４８％の伸びを示したが、前年同期の伸び率５９％には及ばなかった。 パーソナル・コンピューティング部門の売上高はゲーム機「Ｘｂｏｘ」、ノートパソコン「Ｓｕｒｆａｃｅ（サーフェス）」の需要拡大で前年同期比６％増の１１８．５億ドルとなった。 １株当たり純利益も１．８２ドルと、市場予想の１．５５ドルを上回った。 ナデラ最高経営責任者（ＣＥＯ）は、新型コロナウイルス感染拡大を受けた在宅勤務の増加によるアジュールやビデオ会議サービス「Ｔｅａｍｓ（チームズ）」の需要増が追い風になったとの認識を示した。 同社は来月、次世代ゲーム機「ＸｂｏｘシリーズＸ」を発売する予定。その売れ行きに注目が集まっている。"
Spanish News:
"San Francisco (EEUU), 27 oct (EFE).- El gigante estadounidense del software Microsoft anunció este martes que entre julio y septiembre obtuvo unos beneficios netos de 13.893 millones de dólares, un 30 % más que en el mismo período del ejercicio anterior, aupado por su plataforma de computación en la nube. La empresa de Redmond (estado de Washington) facturó durante los pasados tres meses -los primeros de su año fiscal 2021- 37.154 millones de dólares, por encima de los 33.055 millones reportados en octubre de 2019.Los accionistas de Microsoft, por su parte, se embolsaron 1,84 dólares por título, frente a los 1,40 del mismo período del ejercicio pasado. "
Greek News:
"Λόγω των επιδράσεων του COVID-19, υπάρχει μεγάλη αβεβαιότητα στην παγκόσμια οικονομία. Η Microsoft, παρόλο αυτής της αβεβαιότητας, συνεχίζει να επενδύει με διαφορετικούς τρόπους. Η εταιρία συνεχίζει και επενδύει στα παραδοσιακά της προϊόντα και τεχνολογίες, όπως τα Windows και το Office. Επίσης, επενδύει σε σύγχρονες λύσεις cloud αλλά και τεχνητής νοημοσύνης, όπως το Azure αλλά και άλλες σχετικές υπηρεσίες. Παράλληλα, επεκτείνεται με εξαγορές αλλά και ανάπτυξη σε άλλους τομείς, όπως με το LinkedIn, το Bing, το Edge, το HoloLens αλλά και γενικότερα υπηρεσίες Internet-of-Things. Αυτή η πολυδιάστατη στρατηγική, επισημαίνει την δέσμευση της εταιρίας στην καινοτομία, αλλά παράλληλα συνοδεύεται από κινδύνους. Ένας κίνδυνος, για παράδειγμα, προέρχεται από τη πολυπλοκότητα της υλοποίησης τεχνολογικών έργων, αλλά και από την αβεβαιότητα ως προς την ανταπόκριση της αγοράς σε αυτά τα έργα. Επιπλέον, υπάρχει μεγάλος ανταγωνισμός στην υλοποίηση τεχνολογικών έργων. Η εταιρία δίνει μεγάλη έμφαση στην ανάπτυξη λύσεων Cloud και τεχνητής νοημοσύνης, κλάδους στους οποίους η Microsoft στοχεύει να ηγηθεί. Ωστόσο, όπως προαναφέρθηκε, ο έντονος ανταγωνισμός και οι απαιτήσεις καθιστούν την μακροπρόθεσμη επιτυχία της εταιρίας εξαρτώμενη από την συνεχή τεχνολογική υπεροχή αλλά και την ικανότητα προσαρμογής της στις μεταβολές της αγοράς. Τα παραπάνω επιβεβαιώνονται από τα χρηματοοικονομικά αποτελέσματα της εταιρίας. Συγκεκριμένα, η Microsoft κατέγραψε μη πραγματοποιηθείσα ζημία ύψους 201 εκατομμυρίων δολαρίων το τρίτο τρίμηνο του 2020, σε αντίθεση με κέρδος 577 εκατομμυρίων δολαρίων κατά την αντίστοιχη περίοδο του 2019, γεγονός που αντανακλά τη μεταβλητότητα και την αβεβαιότητα που μπορεί να συνοδεύουν τις επενδυτικές της επιλογές."
Question:
Please list the top three focuses on revenue from news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | Please list the top three focuses on revenue from news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: Top three revenue focuses are Cloud Services, Productivity, and Personal Computing
Financial Statement Evidence: The company's revenue streams showed strategic diversification and growth. Service and other revenue increased from $17,287 million to $21,351 million, with particular strength in three key areas. The Intelligent Cloud segment delivered $13 billion in revenue with 20% growth, while Productivity and Business Processes generated $12.3 billion with an 11% increase. The Personal Computing segment contributed $11.8 billion, growing 6% despite challenging market conditions. |
MSFT_20201027 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 |
|:-------------------------------------------------------------------------------------|:-----------|:------------------|:-----------|:-----------|:-------------|:-----------|:-----------|:-----------|
| (In millions) (Unaudited) | | | | | | | | |
| | | | | | | | | |
| | | | | | | | | |
| | | September 30,2020 | | | June 30,2020 | | | |
| | | | | | | | | |
| Assets | | | | | | | | |
| Current assets: | | | | | | | | |
| Cash and cash equivalents | | $ | 17,205 | | | $ | 13,576 | |
| Short-term investments | | | 120,772 | | | | 122,951 | |
| | | | | | | | | |
| | | | | | | | | |
| Total cash, cash equivalents, and short-term investments | | | 137,977 | | | | 136,527 | |
| Accounts receivable, net of allowance for doubtful accounts of$610and $788 | | | 22,851 | | | | 32,011 | |
| Inventories | | | 2,705 | | | | 1,895 | |
| Other current assets | | | 13,544 | | | | 11,482 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current assets | | | 177,077 | | | | 181,915 | |
| Property and equipment, net of accumulated depreciation of$45,417and $43,197 | | | 47,927 | | | | 44,151 | |
| Operating lease right-of-use assets | | | 9,047 | | | | 8,753 | |
| Equity investments | | | 3,103 | | | | 2,965 | |
| Goodwill | | | 43,890 | | | | 43,351 | |
| Intangible assets, net | | | 6,923 | | | | 7,038 | |
| Other long-term assets | | | 13,034 | | | | 13,138 | |
| | | | | | | | | |
| | | | | | | | | |
| Total assets | | $ | 301,001 | | | $ | 301,311 | |
| | | | | | | | | |
| | | | | | | | | |
| Liabilities and stockholders’ equity | | | | | | | | |
| Current liabilities: | | | | | | | | |
| Accounts payable | | $ | 12,509 | | | $ | 12,530 | |
| Current portion of long-term debt | | | 6,497 | | | | 3,749 | |
| Accrued compensation | | | 5,714 | | | | 7,874 | |
| Short-term income taxes | | | 2,384 | | | | 2,130 | |
| Short-term unearned revenue | | | 33,476 | | | | 36,000 | |
| Other current liabilities | | | 9,476 | | | | 10,027 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current liabilities | | | 70,056 | | | | 72,310 | |
| Long-term debt | | | 57,055 | | | | 59,578 | |
| Long-term income taxes | | | 28,204 | | | | 29,432 | |
| Long-term unearned revenue | | | 2,829 | | | | 3,180 | |
| Deferred income taxes | | | 187 | | | | 204 | |
| Operating lease liabilities | | | 7,753 | | | | 7,671 | |
| Other long-term liabilities | | | 11,525 | | | | 10,632 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities | | | 177,609 | | | | 183,007 | |
| | | | | | | | | |
| | | | | | | | | |
| Commitments and contingencies | | | | | | | | |
| Stockholders’ equity: | | | | | | | | |
| Common stock and paid-in capital – shares authorized24,000; outstanding7,564and7,571 | | | 81,089 | | | | 80,552 | |
| Retained earnings | | | 39,193 | | | | 34,566 | |
| Accumulated other comprehensive income | | | 3,110 | | | | 3,186 | |
| | | | | | | | | |
| | | | | | | | | |
| Total stockholders’ equity | | | 123,392 | | | | 118,304 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities and stockholders’ equity | | $ | 301,001 | | | $ | 301,311 | |
| | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 |
|:---------------------------------------------------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|
| (In millions) (Unaudited) | | | | | | | | |
| | | | | | | | | |
| | | | | | | | | |
| Three Months Ended September 30, | | 2020 | | | 2019 | | | |
| | | | | | | | | |
| Operations | | | | | | | | |
| Net income | | $ | 13,893 | | | $ | 10,678 | |
| Adjustments to reconcile net income to net cash from operations: | | | | | | | | |
| Depreciation, amortization, and other | | | 2,645 | | | | 2,971 | |
| Stock-based compensation expense | | | 1,456 | | | | 1,262 | |
| Net recognized losses (gains) on investments and derivatives | | | (128 | ) | | | 11 | |
| Deferred income taxes | | | (11 | ) | | | (177 | ) |
| Changes in operating assets and liabilities: | | | | | | | | |
| Accounts receivable | | | 8,843 | | | | 10,090 | |
| Inventories | | | (808 | ) | | | (561 | ) |
| Other current assets | | | (54 | ) | | | (438 | ) |
| Other long-term assets | | | (62 | ) | | | (333 | ) |
| Accounts payable | | | 315 | | | | (547 | ) |
| Unearned revenue | | | (3,064 | ) | | | (2,892 | ) |
| Income taxes | | | (983 | ) | | | (3,336 | ) |
| Other current liabilities | | | (2,951 | ) | | | (3,320 | ) |
| Other long-term liabilities | | | 244 | | | | 410 | |
| | | | | | | | | |
| | | | | | | | | |
| Net cash from operations | | | 19,335 | | | | 13,818 | |
| | | | | | | | | |
| | | | | | | | | |
| Financing | | | | | | | | |
| Repayments of debt | | | 0 | | | | (2,500 | ) |
| Common stock issued | | | 545 | | | | 427 | |
| Common stock repurchased | | | (6,743 | ) | | | (4,912 | ) |
| Common stock cash dividends paid | | | (3,856 | ) | | | (3,510 | ) |
| Other, net | | | (235 | ) | | | 286 | |
| | | | | | | | | |
| | | | | | | | | |
| Net cash used in financing | | | (10,289 | ) | | | (10,209 | ) |
| | | | | | | | | |
| | | | | | | | | |
| Investing | | | | | | | | |
| Additions to property and equipment | | | (4,907 | ) | | | (3,385 | ) |
| Acquisition of companies, net of cash acquired, and purchases of intangible and other assets | | | (481 | ) | | | (462 | ) |
| Purchases of investments | | | (14,580 | ) | | | (23,390 | ) |
| Maturities of investments | | | 14,266 | | | | 19,082 | |
| Sales of investments | | | 2,414 | | | | 6,379 | |
| Other, net | | | (2,083 | ) | | | 0 | |
| | | | | | | | | |
| | | | | | | | | |
| Net cash used in investing | | | (5,371 | ) | | | (1,776 | ) |
| | | | | | | | | |
| | | | | | | | | |
| Effect of foreign exchange rates on cash and cash equivalents | | | (46 | ) | | | (72 | ) |
| | | | | | | | | |
| | | | | | | | | |
| Net change in cash and cash equivalents | | | 3,629 | | | | 1,761 | |
| Cash and cash equivalents, beginning of period | | | 13,576 | | | | 11,356 | |
| | | | | | | | | |
| | | | | | | | | |
| Cash and cash equivalents, end of period | | $ | 17,205 | | | $ | 13,117 | |
| | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 |
|:----------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|
| (In millions, except per share amounts) (Unaudited) | | | | | | | | |
| | | | | | | | | |
| | | | | | | | | |
| Three Months Ended September 30, | | 2020 | | | 2019 | | | |
| | | | | | | | | |
| Revenue: | | | | | | | | |
| Product | | $ | 15,803 | | | $ | 15,768 | |
| Service and other | | | 21,351 | | | | 17,287 | |
| | | | | | | | | |
| | | | | | | | | |
| Total revenue | | | 37,154 | | | | 33,055 | |
| | | | | | | | | |
| | | | | | | | | |
| Cost of revenue: | | | | | | | | |
| Product | | | 3,597 | | | | 3,305 | |
| Service and other | | | 7,405 | | | | 7,101 | |
| | | | | | | | | |
| | | | | | | | | |
| Total cost of revenue | | | 11,002 | | | | 10,406 | |
| | | | | | | | | |
| | | | | | | | | |
| Gross margin | | | 26,152 | | | | 22,649 | |
| Research and development | | | 4,926 | | | | 4,565 | |
| Sales and marketing | | | 4,231 | | | | 4,337 | |
| General and administrative | | | 1,119 | | | | 1,061 | |
| | | | | | | | | |
| | | | | | | | | |
| Operating income | | | 15,876 | | | | 12,686 | |
| Other income, net | | | 248 | | | | 0 | |
| | | | | | | | | |
| | | | | | | | | |
| Income before income taxes | | | 16,124 | | | | 12,686 | |
| Provision for income taxes | | | 2,231 | | | | 2,008 | |
| | | | | | | | | |
| | | | | | | | | |
| Net income | | $ | 13,893 | | | $ | 10,678 | |
| | | | | | | | | |
| | | | | | | | | |
| Earnings per share: | | | | | | | | |
| Basic | | $ | 1.84 | | | $ | 1.40 | |
| Diluted | | $ | 1.82 | | | $ | 1.38 | |
| | | | | | | | | |
| Weighted average shares outstanding: | | | | | | | | |
| Basic | | | 7,566 | | | | 7,634 | |
| Diluted | | | 7,637 | | | | 7,710 | |
| | | | | | | | | |
---
English News:
"""Cincom Systems, Inc. has partnered with Reenhanced to implement CPQSync, a cloud-based solution designed to enhance the configure-price-quote process within Microsoft Dynamics 365. This partnership aims to help businesses maximize their investments in Microsoft Dynamics 365 by integrating CPQSync, which is fully embedded within the platform and leverages Microsoft Azure and Power Platform. The solution promises to streamline sales processes, eliminate informational silos, and improve cross-departmental collaboration. This collaboration could potentially increase the value proposition of Microsoft Dynamics 365, making it a more attractive option for businesses seeking comprehensive CRM solutions. Investors in Microsoft (MSFT) may view this partnership as a positive development, potentially driving increased adoption and customer satisfaction for Microsoft Dynamics 365. (Sentiment: positive)"", ""Vyopta has expanded its support to include Poly's latest Studio X Series and G7500 room systems, enhancing real-time monitoring and troubleshooting capabilities for these devices. This update also improves support for Poly's Trio devices and continues to support older endpoints, ensuring comprehensive visibility across all deployed endpoints. The new capabilities allow Poly's Studio X Series to natively register with Zoom and Microsoft Teams, facilitating seamless integration with leading UCaaS solutions. This development underscores Vyopta's commitment to supporting Microsoft Teams, which could enhance user experience and performance for enterprises using Microsoft's UCaaS solutions. The expanded support and integration could potentially drive increased adoption and satisfaction of Microsoft Teams among large enterprises, making it a positive indicator for Microsoft's UCaaS market position. (Sentiment: positive)"", ""American Capital Group (ACG) and Artemis Real Estate Partners have formed a joint venture to acquire two multifamily development projects in the Pacific Northwest, specifically in Kirkland, WA, and Hillsboro, OR. These areas are experiencing rapid population and job growth, driven by high-paying technology jobs from major employers like Microsoft, Amazon, Google, and Facebook. The Lifebridge Kirkland Apartments project, located in the Innovation Triangle near Microsoft's headquarters, will feature 409 residential units and is expected to be completed by Q2 2021. The Amberglen Apartments in Hillsboro, home to Intel and IBM, will offer 352 residential units and is slated for completion by Q4 2021. These investments highlight the growing demand for affordable, high-quality housing in tech-driven suburban markets, which could positively impact the local real estate market and indirectly benefit companies like Microsoft by attracting more talent to the area. (Sentiment: positive)"", ""The Identity and Access Management (IAM) market is projected to grow from USD 11.82 billion in 2019 to USD 29.79 billion by 2027, at a CAGR of 13.21%. Key growth drivers include increased spending on security solutions by government bodies and large enterprises to combat identity theft and comply with regulations, as well as the rising need for IAM in IoT applications. Major players in the market include Microsoft Corporation, Sailpoint Technologies, Oracle Corporation, Dell EMC, and IBM Corporation. IAM solutions are essential for providing secure, consistent, and enhanced user experiences, which is crucial for both SMEs and large enterprises. This growth potential and Microsoft's significant presence in the IAM market make it a compelling investment opportunity. (Sentiment: positive)"", ""The Global Blockchain in Aerospace & Defense Market is projected to grow significantly from USD 941.36 million in 2019 to USD 7,809.18 million by 2025, at a CAGR of 42.27%. Key application areas include certifications, digital ID, provenance, smart contracts, and tokenization, with significant growth opportunities across the Americas, Asia-Pacific, and Europe, Middle East & Africa. Microsoft Corporation is highlighted as a leading vendor, indicating its strong position and potential for growth in this market. The report emphasizes the impact of COVID-19 on market dynamics, including changes in consumer behavior and supply chain disruptions. Investment opportunities are identified in emerging markets, new product developments, and strategic moves such as mergers and acquisitions. (Sentiment: positive)"", ""The Global Blockchain in Energy Market is projected to grow significantly from USD 524.22 million in 2019 to USD 4,830.84 million by 2025, at a CAGR of 44.79%. Key segments include components (Platform and Services), types (Private and Public), end-users (Oil and Gas, Power Sector), and applications (Energy Trading, Grid Management, etc.). Microsoft, among other leading vendors, is highlighted for its significant developments and innovation in this market. The report emphasizes the impact of COVID-19 on market dynamics, consumer behavior, and supply chains. Investment opportunities are identified in emerging markets, new product launches, and strategic moves like mergers and acquisitions. (Sentiment: positive)"", ""The Global Blockchain Technology in Healthcare Market is projected to grow significantly from USD 5,475.81 million in 2019 to USD 38,747.63 million by 2025, at a CAGR of 38.55%. Key segments include Claims Adjudication & Billing Management, Clinical Data Exchange & Interoperability, and Supply Chain Management, with major end users being Healthcare Payers, Providers, and Pharmaceutical Companies. Microsoft Corporation is highlighted as a leading vendor, indicating its strong position and potential for growth in this market. The report also emphasizes the impact of COVID-19 on market dynamics, including changes in consumer behavior and supply chain disruptions. Investment opportunities are identified in emerging markets, new product developments, and strategic moves such as mergers and acquisitions. (Sentiment: positive)"", ""The Global Blockchain-as-a-Service (BaaS) Market is projected to grow significantly from USD 755.34 million in 2019 to USD 9,334.19 million by 2025, at a CAGR of 52.05%. Key players in this market include Microsoft Corporation (MSFT), IBM, Oracle, and SAP, among others. The report highlights the impact of COVID-19 on market dynamics, including changes in consumer behavior, supply chain disruptions, and government interventions. Microsoft's strong positioning in the market is supported by its comprehensive business strategy and product satisfaction, making it a favorable investment opportunity. The report also emphasizes the importance of market penetration, development, and diversification strategies for future growth. (Sentiment: positive)"", ""The global Cloud Automation market is projected to grow from $35.5 billion in 2020 to $149.9 billion by 2027, with a CAGR of 22.8%. The public cloud segment is expected to grow at a 24% CAGR, while the private cloud segment is readjusted to a 20.7% CAGR. The U.S. market is estimated at $10.6 billion in 2020, with China forecasted to grow at a 22.3% CAGR, reaching $26.1 billion by 2027. Key competitors in the market include Microsoft Corporation, Amazon Web Services, Google Cloud Platform, and others. This rapid growth and competitive landscape highlight significant investment opportunities in cloud automation, particularly for major players like Microsoft. (Sentiment: positive)"", ""BrainSell has partnered with Aircall to offer cloud-based phone systems to growth-focused businesses in North America, emphasizing the importance of integrating telephony with CRM, marketing automation, and customer support systems. This partnership aims to streamline call tracking and enhance productivity by providing features like click-to-dial, sales dialers, and smart IVR directories. The integration capabilities with major platforms such as SugarCRM, Zendesk, Microsoft Dynamics, SalesLoft, Salesforce, and HubSpot are highlighted, potentially increasing the value proposition for Microsoft Dynamics users. Aircall's cloud-based system is designed for easy setup, use, and scalability, which aligns with BrainSell's focus on faster adoption and ROI. This collaboration could drive increased adoption of cloud-based telephony solutions, benefiting companies that leverage Microsoft Dynamics for their business operations. (Sentiment: positive)"", ""AgilePoint has launched version 8.0 of its digital process automation PaaS, designed for users with minimal coding experience, featuring a revamped user interface and enhanced functionality. Key updates include a centralized Work Center, a guided App Builder Wizard, automated application generation from Excel, and a robust business intelligence module. The platform now integrates with ServiceNow, Jira, Microsoft Power Automate, and Ethereum Blockchain, expanding its extensive list of over 70 out-of-the-box integrations. This release aims to support the growth of Citizen Developers and enable scalable business automation for organizations of all sizes. AgilePoint's advancements could potentially enhance the ecosystem of Microsoft Power Automate, making it a relevant consideration for investors in Microsoft. (Sentiment: positive)"" "
Chinese News:
全球疫情带来的居家办公进一步助推了微软业绩。10月27日，微软发布2021财年一季报，在截至9月30日的3个月中，微软营收增长12%至372亿美元，净利润138.9亿美元，财务数据都高于华尔街预期。软股价涨1.51%，报收213.25美元。推动微软股价上涨最重要的原因是微软云计算服务Azure的更新。微软介绍，受微软云服务Azure营收增长48%的提振，公司的服务器产品和云服务综合营收增长了22%。Azure在微软所属的单元“智能云”营收130亿美元，比去年同期增长20%，它也成为微软本季度表现最好的三个单元之一。路透社称，微软将几套软件和服务，如Office和Azure，打包为“商业云”，投资者密切关注该指标来评估其向大型企业的销售进展。微软的商业云业务毛利率为71%，上年同期为66%。另外表现最好的两个单元中，其一是包括了Office办公软件和职场社交平台领英(LinkedIn)的“生产力与商业流程”——营收123亿美元，同比增长11%；其二是包括了Windows系统和Xbox游戏机的“更个性化的计算”——营收118亿美元，同比增长 6%。微软第三季度财报中还有一些亮点：Surface笔记本电脑营收比去年同期增长37%；必应搜索(Bing)收入下降，公司称这是因为剔除了流量获取开支的搜索广告收入减少了10%；商业云营收152亿美元，比去年同期增长31%；领英的季度营收增长16%；游戏营收比去年同期增长22%。在消费者PC端的需求上，非专业Windows电脑代工生产(OEM)比去年同期营收增长31%，但专业Windows电脑的产品线代工生产同比下降22%。所有门类加上后，微软代工生产收入总体降低了5%。微软的视频会议协作软件Teams用户数量也大幅增加。微软CEO纳德拉称，Teams现在的日活跃用户超过1.15亿，4月份的日活跃用户为7500万。《华尔街日报》援引纳德拉的话称，很明显，人们在工作的时间、地点和方式上将需要更多灵活性。他表示：“下一个十年企业的经济表现将取决于它们数字化转型的速度。”报道还称，微软预计，新冠疫情时期云计算服务、电子游戏和电脑需求的激增至少会在今年剩余时间持续。
Japanese News:
"ニューヨーク（ＣＮＮ Ｂｕｓｉｎｅｓｓ） 米マイクロソフトが２７日発表した７～９月期の決算は、売上高が市場予想を大きく上回るなど、クラウドサービスやゲームの需要拡大を反映した好調な内容となった。 ７～９月期の売上高は３７２億ドル（約３兆８８００億円）と、市場予想の３５８億ドルを大幅に上回った。 インテリジェント・クラウド部門は売上高１３０億ドルと、前年同期比２０％増。特にクラウドサービス「Ａｚｕｒｅ（アジュール）」の売り上げは４８％の伸びを示したが、前年同期の伸び率５９％には及ばなかった。 パーソナル・コンピューティング部門の売上高はゲーム機「Ｘｂｏｘ」、ノートパソコン「Ｓｕｒｆａｃｅ（サーフェス）」の需要拡大で前年同期比６％増の１１８．５億ドルとなった。 １株当たり純利益も１．８２ドルと、市場予想の１．５５ドルを上回った。 ナデラ最高経営責任者（ＣＥＯ）は、新型コロナウイルス感染拡大を受けた在宅勤務の増加によるアジュールやビデオ会議サービス「Ｔｅａｍｓ（チームズ）」の需要増が追い風になったとの認識を示した。 同社は来月、次世代ゲーム機「ＸｂｏｘシリーズＸ」を発売する予定。その売れ行きに注目が集まっている。"
Spanish News:
"San Francisco (EEUU), 27 oct (EFE).- El gigante estadounidense del software Microsoft anunció este martes que entre julio y septiembre obtuvo unos beneficios netos de 13.893 millones de dólares, un 30 % más que en el mismo período del ejercicio anterior, aupado por su plataforma de computación en la nube. La empresa de Redmond (estado de Washington) facturó durante los pasados tres meses -los primeros de su año fiscal 2021- 37.154 millones de dólares, por encima de los 33.055 millones reportados en octubre de 2019.Los accionistas de Microsoft, por su parte, se embolsaron 1,84 dólares por título, frente a los 1,40 del mismo período del ejercicio pasado. "
Greek News:
"Λόγω των επιδράσεων του COVID-19, υπάρχει μεγάλη αβεβαιότητα στην παγκόσμια οικονομία. Η Microsoft, παρόλο αυτής της αβεβαιότητας, συνεχίζει να επενδύει με διαφορετικούς τρόπους. Η εταιρία συνεχίζει και επενδύει στα παραδοσιακά της προϊόντα και τεχνολογίες, όπως τα Windows και το Office. Επίσης, επενδύει σε σύγχρονες λύσεις cloud αλλά και τεχνητής νοημοσύνης, όπως το Azure αλλά και άλλες σχετικές υπηρεσίες. Παράλληλα, επεκτείνεται με εξαγορές αλλά και ανάπτυξη σε άλλους τομείς, όπως με το LinkedIn, το Bing, το Edge, το HoloLens αλλά και γενικότερα υπηρεσίες Internet-of-Things. Αυτή η πολυδιάστατη στρατηγική, επισημαίνει την δέσμευση της εταιρίας στην καινοτομία, αλλά παράλληλα συνοδεύεται από κινδύνους. Ένας κίνδυνος, για παράδειγμα, προέρχεται από τη πολυπλοκότητα της υλοποίησης τεχνολογικών έργων, αλλά και από την αβεβαιότητα ως προς την ανταπόκριση της αγοράς σε αυτά τα έργα. Επιπλέον, υπάρχει μεγάλος ανταγωνισμός στην υλοποίηση τεχνολογικών έργων. Η εταιρία δίνει μεγάλη έμφαση στην ανάπτυξη λύσεων Cloud και τεχνητής νοημοσύνης, κλάδους στους οποίους η Microsoft στοχεύει να ηγηθεί. Ωστόσο, όπως προαναφέρθηκε, ο έντονος ανταγωνισμός και οι απαιτήσεις καθιστούν την μακροπρόθεσμη επιτυχία της εταιρίας εξαρτώμενη από την συνεχή τεχνολογική υπεροχή αλλά και την ικανότητα προσαρμογής της στις μεταβολές της αγοράς. Τα παραπάνω επιβεβαιώνονται από τα χρηματοοικονομικά αποτελέσματα της εταιρίας. Συγκεκριμένα, η Microsoft κατέγραψε μη πραγματοποιηθείσα ζημία ύψους 201 εκατομμυρίων δολαρίων το τρίτο τρίμηνο του 2020, σε αντίθεση με κέρδος 577 εκατομμυρίων δολαρίων κατά την αντίστοιχη περίοδο του 2019, γεγονός που αντανακλά τη μεταβλητότητα και την αβεβαιότητα που μπορεί να συνοδεύουν τις επενδυτικές της επιλογές."
Question:
How is the company allocating capital (e.g., investments, share repurchases, dividends) based on its performance and market outlook from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | How is the company allocating capital (e.g., investments, share repurchases, dividends) based on its performance and market outlook from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: Capital allocation through strategic investments and shareholder returns
Financial Statement Evidence: Microsoft demonstrated a balanced approach to capital allocation. The company repurchased $6,743 million of common stock and paid $3,856 million in cash dividends, returning significant value to shareholders. Simultaneously, the firm invested $4,907 million in property and equipment, focusing on strategic technologies and infrastructure. |
MSFT_20201027 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 |
|:-------------------------------------------------------------------------------------|:-----------|:------------------|:-----------|:-----------|:-------------|:-----------|:-----------|:-----------|
| (In millions) (Unaudited) | | | | | | | | |
| | | | | | | | | |
| | | | | | | | | |
| | | September 30,2020 | | | June 30,2020 | | | |
| | | | | | | | | |
| Assets | | | | | | | | |
| Current assets: | | | | | | | | |
| Cash and cash equivalents | | $ | 17,205 | | | $ | 13,576 | |
| Short-term investments | | | 120,772 | | | | 122,951 | |
| | | | | | | | | |
| | | | | | | | | |
| Total cash, cash equivalents, and short-term investments | | | 137,977 | | | | 136,527 | |
| Accounts receivable, net of allowance for doubtful accounts of$610and $788 | | | 22,851 | | | | 32,011 | |
| Inventories | | | 2,705 | | | | 1,895 | |
| Other current assets | | | 13,544 | | | | 11,482 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current assets | | | 177,077 | | | | 181,915 | |
| Property and equipment, net of accumulated depreciation of$45,417and $43,197 | | | 47,927 | | | | 44,151 | |
| Operating lease right-of-use assets | | | 9,047 | | | | 8,753 | |
| Equity investments | | | 3,103 | | | | 2,965 | |
| Goodwill | | | 43,890 | | | | 43,351 | |
| Intangible assets, net | | | 6,923 | | | | 7,038 | |
| Other long-term assets | | | 13,034 | | | | 13,138 | |
| | | | | | | | | |
| | | | | | | | | |
| Total assets | | $ | 301,001 | | | $ | 301,311 | |
| | | | | | | | | |
| | | | | | | | | |
| Liabilities and stockholders’ equity | | | | | | | | |
| Current liabilities: | | | | | | | | |
| Accounts payable | | $ | 12,509 | | | $ | 12,530 | |
| Current portion of long-term debt | | | 6,497 | | | | 3,749 | |
| Accrued compensation | | | 5,714 | | | | 7,874 | |
| Short-term income taxes | | | 2,384 | | | | 2,130 | |
| Short-term unearned revenue | | | 33,476 | | | | 36,000 | |
| Other current liabilities | | | 9,476 | | | | 10,027 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current liabilities | | | 70,056 | | | | 72,310 | |
| Long-term debt | | | 57,055 | | | | 59,578 | |
| Long-term income taxes | | | 28,204 | | | | 29,432 | |
| Long-term unearned revenue | | | 2,829 | | | | 3,180 | |
| Deferred income taxes | | | 187 | | | | 204 | |
| Operating lease liabilities | | | 7,753 | | | | 7,671 | |
| Other long-term liabilities | | | 11,525 | | | | 10,632 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities | | | 177,609 | | | | 183,007 | |
| | | | | | | | | |
| | | | | | | | | |
| Commitments and contingencies | | | | | | | | |
| Stockholders’ equity: | | | | | | | | |
| Common stock and paid-in capital – shares authorized24,000; outstanding7,564and7,571 | | | 81,089 | | | | 80,552 | |
| Retained earnings | | | 39,193 | | | | 34,566 | |
| Accumulated other comprehensive income | | | 3,110 | | | | 3,186 | |
| | | | | | | | | |
| | | | | | | | | |
| Total stockholders’ equity | | | 123,392 | | | | 118,304 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities and stockholders’ equity | | $ | 301,001 | | | $ | 301,311 | |
| | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 |
|:---------------------------------------------------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|
| (In millions) (Unaudited) | | | | | | | | |
| | | | | | | | | |
| | | | | | | | | |
| Three Months Ended September 30, | | 2020 | | | 2019 | | | |
| | | | | | | | | |
| Operations | | | | | | | | |
| Net income | | $ | 13,893 | | | $ | 10,678 | |
| Adjustments to reconcile net income to net cash from operations: | | | | | | | | |
| Depreciation, amortization, and other | | | 2,645 | | | | 2,971 | |
| Stock-based compensation expense | | | 1,456 | | | | 1,262 | |
| Net recognized losses (gains) on investments and derivatives | | | (128 | ) | | | 11 | |
| Deferred income taxes | | | (11 | ) | | | (177 | ) |
| Changes in operating assets and liabilities: | | | | | | | | |
| Accounts receivable | | | 8,843 | | | | 10,090 | |
| Inventories | | | (808 | ) | | | (561 | ) |
| Other current assets | | | (54 | ) | | | (438 | ) |
| Other long-term assets | | | (62 | ) | | | (333 | ) |
| Accounts payable | | | 315 | | | | (547 | ) |
| Unearned revenue | | | (3,064 | ) | | | (2,892 | ) |
| Income taxes | | | (983 | ) | | | (3,336 | ) |
| Other current liabilities | | | (2,951 | ) | | | (3,320 | ) |
| Other long-term liabilities | | | 244 | | | | 410 | |
| | | | | | | | | |
| | | | | | | | | |
| Net cash from operations | | | 19,335 | | | | 13,818 | |
| | | | | | | | | |
| | | | | | | | | |
| Financing | | | | | | | | |
| Repayments of debt | | | 0 | | | | (2,500 | ) |
| Common stock issued | | | 545 | | | | 427 | |
| Common stock repurchased | | | (6,743 | ) | | | (4,912 | ) |
| Common stock cash dividends paid | | | (3,856 | ) | | | (3,510 | ) |
| Other, net | | | (235 | ) | | | 286 | |
| | | | | | | | | |
| | | | | | | | | |
| Net cash used in financing | | | (10,289 | ) | | | (10,209 | ) |
| | | | | | | | | |
| | | | | | | | | |
| Investing | | | | | | | | |
| Additions to property and equipment | | | (4,907 | ) | | | (3,385 | ) |
| Acquisition of companies, net of cash acquired, and purchases of intangible and other assets | | | (481 | ) | | | (462 | ) |
| Purchases of investments | | | (14,580 | ) | | | (23,390 | ) |
| Maturities of investments | | | 14,266 | | | | 19,082 | |
| Sales of investments | | | 2,414 | | | | 6,379 | |
| Other, net | | | (2,083 | ) | | | 0 | |
| | | | | | | | | |
| | | | | | | | | |
| Net cash used in investing | | | (5,371 | ) | | | (1,776 | ) |
| | | | | | | | | |
| | | | | | | | | |
| Effect of foreign exchange rates on cash and cash equivalents | | | (46 | ) | | | (72 | ) |
| | | | | | | | | |
| | | | | | | | | |
| Net change in cash and cash equivalents | | | 3,629 | | | | 1,761 | |
| Cash and cash equivalents, beginning of period | | | 13,576 | | | | 11,356 | |
| | | | | | | | | |
| | | | | | | | | |
| Cash and cash equivalents, end of period | | $ | 17,205 | | | $ | 13,117 | |
| | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 |
|:----------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|
| (In millions, except per share amounts) (Unaudited) | | | | | | | | |
| | | | | | | | | |
| | | | | | | | | |
| Three Months Ended September 30, | | 2020 | | | 2019 | | | |
| | | | | | | | | |
| Revenue: | | | | | | | | |
| Product | | $ | 15,803 | | | $ | 15,768 | |
| Service and other | | | 21,351 | | | | 17,287 | |
| | | | | | | | | |
| | | | | | | | | |
| Total revenue | | | 37,154 | | | | 33,055 | |
| | | | | | | | | |
| | | | | | | | | |
| Cost of revenue: | | | | | | | | |
| Product | | | 3,597 | | | | 3,305 | |
| Service and other | | | 7,405 | | | | 7,101 | |
| | | | | | | | | |
| | | | | | | | | |
| Total cost of revenue | | | 11,002 | | | | 10,406 | |
| | | | | | | | | |
| | | | | | | | | |
| Gross margin | | | 26,152 | | | | 22,649 | |
| Research and development | | | 4,926 | | | | 4,565 | |
| Sales and marketing | | | 4,231 | | | | 4,337 | |
| General and administrative | | | 1,119 | | | | 1,061 | |
| | | | | | | | | |
| | | | | | | | | |
| Operating income | | | 15,876 | | | | 12,686 | |
| Other income, net | | | 248 | | | | 0 | |
| | | | | | | | | |
| | | | | | | | | |
| Income before income taxes | | | 16,124 | | | | 12,686 | |
| Provision for income taxes | | | 2,231 | | | | 2,008 | |
| | | | | | | | | |
| | | | | | | | | |
| Net income | | $ | 13,893 | | | $ | 10,678 | |
| | | | | | | | | |
| | | | | | | | | |
| Earnings per share: | | | | | | | | |
| Basic | | $ | 1.84 | | | $ | 1.40 | |
| Diluted | | $ | 1.82 | | | $ | 1.38 | |
| | | | | | | | | |
| Weighted average shares outstanding: | | | | | | | | |
| Basic | | | 7,566 | | | | 7,634 | |
| Diluted | | | 7,637 | | | | 7,710 | |
| | | | | | | | | |
---
English News:
"""Cincom Systems, Inc. has partnered with Reenhanced to implement CPQSync, a cloud-based solution designed to enhance the configure-price-quote process within Microsoft Dynamics 365. This partnership aims to help businesses maximize their investments in Microsoft Dynamics 365 by integrating CPQSync, which is fully embedded within the platform and leverages Microsoft Azure and Power Platform. The solution promises to streamline sales processes, eliminate informational silos, and improve cross-departmental collaboration. This collaboration could potentially increase the value proposition of Microsoft Dynamics 365, making it a more attractive option for businesses seeking comprehensive CRM solutions. Investors in Microsoft (MSFT) may view this partnership as a positive development, potentially driving increased adoption and customer satisfaction for Microsoft Dynamics 365. (Sentiment: positive)"", ""Vyopta has expanded its support to include Poly's latest Studio X Series and G7500 room systems, enhancing real-time monitoring and troubleshooting capabilities for these devices. This update also improves support for Poly's Trio devices and continues to support older endpoints, ensuring comprehensive visibility across all deployed endpoints. The new capabilities allow Poly's Studio X Series to natively register with Zoom and Microsoft Teams, facilitating seamless integration with leading UCaaS solutions. This development underscores Vyopta's commitment to supporting Microsoft Teams, which could enhance user experience and performance for enterprises using Microsoft's UCaaS solutions. The expanded support and integration could potentially drive increased adoption and satisfaction of Microsoft Teams among large enterprises, making it a positive indicator for Microsoft's UCaaS market position. (Sentiment: positive)"", ""American Capital Group (ACG) and Artemis Real Estate Partners have formed a joint venture to acquire two multifamily development projects in the Pacific Northwest, specifically in Kirkland, WA, and Hillsboro, OR. These areas are experiencing rapid population and job growth, driven by high-paying technology jobs from major employers like Microsoft, Amazon, Google, and Facebook. The Lifebridge Kirkland Apartments project, located in the Innovation Triangle near Microsoft's headquarters, will feature 409 residential units and is expected to be completed by Q2 2021. The Amberglen Apartments in Hillsboro, home to Intel and IBM, will offer 352 residential units and is slated for completion by Q4 2021. These investments highlight the growing demand for affordable, high-quality housing in tech-driven suburban markets, which could positively impact the local real estate market and indirectly benefit companies like Microsoft by attracting more talent to the area. (Sentiment: positive)"", ""The Identity and Access Management (IAM) market is projected to grow from USD 11.82 billion in 2019 to USD 29.79 billion by 2027, at a CAGR of 13.21%. Key growth drivers include increased spending on security solutions by government bodies and large enterprises to combat identity theft and comply with regulations, as well as the rising need for IAM in IoT applications. Major players in the market include Microsoft Corporation, Sailpoint Technologies, Oracle Corporation, Dell EMC, and IBM Corporation. IAM solutions are essential for providing secure, consistent, and enhanced user experiences, which is crucial for both SMEs and large enterprises. This growth potential and Microsoft's significant presence in the IAM market make it a compelling investment opportunity. (Sentiment: positive)"", ""The Global Blockchain in Aerospace & Defense Market is projected to grow significantly from USD 941.36 million in 2019 to USD 7,809.18 million by 2025, at a CAGR of 42.27%. Key application areas include certifications, digital ID, provenance, smart contracts, and tokenization, with significant growth opportunities across the Americas, Asia-Pacific, and Europe, Middle East & Africa. Microsoft Corporation is highlighted as a leading vendor, indicating its strong position and potential for growth in this market. The report emphasizes the impact of COVID-19 on market dynamics, including changes in consumer behavior and supply chain disruptions. Investment opportunities are identified in emerging markets, new product developments, and strategic moves such as mergers and acquisitions. (Sentiment: positive)"", ""The Global Blockchain in Energy Market is projected to grow significantly from USD 524.22 million in 2019 to USD 4,830.84 million by 2025, at a CAGR of 44.79%. Key segments include components (Platform and Services), types (Private and Public), end-users (Oil and Gas, Power Sector), and applications (Energy Trading, Grid Management, etc.). Microsoft, among other leading vendors, is highlighted for its significant developments and innovation in this market. The report emphasizes the impact of COVID-19 on market dynamics, consumer behavior, and supply chains. Investment opportunities are identified in emerging markets, new product launches, and strategic moves like mergers and acquisitions. (Sentiment: positive)"", ""The Global Blockchain Technology in Healthcare Market is projected to grow significantly from USD 5,475.81 million in 2019 to USD 38,747.63 million by 2025, at a CAGR of 38.55%. Key segments include Claims Adjudication & Billing Management, Clinical Data Exchange & Interoperability, and Supply Chain Management, with major end users being Healthcare Payers, Providers, and Pharmaceutical Companies. Microsoft Corporation is highlighted as a leading vendor, indicating its strong position and potential for growth in this market. The report also emphasizes the impact of COVID-19 on market dynamics, including changes in consumer behavior and supply chain disruptions. Investment opportunities are identified in emerging markets, new product developments, and strategic moves such as mergers and acquisitions. (Sentiment: positive)"", ""The Global Blockchain-as-a-Service (BaaS) Market is projected to grow significantly from USD 755.34 million in 2019 to USD 9,334.19 million by 2025, at a CAGR of 52.05%. Key players in this market include Microsoft Corporation (MSFT), IBM, Oracle, and SAP, among others. The report highlights the impact of COVID-19 on market dynamics, including changes in consumer behavior, supply chain disruptions, and government interventions. Microsoft's strong positioning in the market is supported by its comprehensive business strategy and product satisfaction, making it a favorable investment opportunity. The report also emphasizes the importance of market penetration, development, and diversification strategies for future growth. (Sentiment: positive)"", ""The global Cloud Automation market is projected to grow from $35.5 billion in 2020 to $149.9 billion by 2027, with a CAGR of 22.8%. The public cloud segment is expected to grow at a 24% CAGR, while the private cloud segment is readjusted to a 20.7% CAGR. The U.S. market is estimated at $10.6 billion in 2020, with China forecasted to grow at a 22.3% CAGR, reaching $26.1 billion by 2027. Key competitors in the market include Microsoft Corporation, Amazon Web Services, Google Cloud Platform, and others. This rapid growth and competitive landscape highlight significant investment opportunities in cloud automation, particularly for major players like Microsoft. (Sentiment: positive)"", ""BrainSell has partnered with Aircall to offer cloud-based phone systems to growth-focused businesses in North America, emphasizing the importance of integrating telephony with CRM, marketing automation, and customer support systems. This partnership aims to streamline call tracking and enhance productivity by providing features like click-to-dial, sales dialers, and smart IVR directories. The integration capabilities with major platforms such as SugarCRM, Zendesk, Microsoft Dynamics, SalesLoft, Salesforce, and HubSpot are highlighted, potentially increasing the value proposition for Microsoft Dynamics users. Aircall's cloud-based system is designed for easy setup, use, and scalability, which aligns with BrainSell's focus on faster adoption and ROI. This collaboration could drive increased adoption of cloud-based telephony solutions, benefiting companies that leverage Microsoft Dynamics for their business operations. (Sentiment: positive)"", ""AgilePoint has launched version 8.0 of its digital process automation PaaS, designed for users with minimal coding experience, featuring a revamped user interface and enhanced functionality. Key updates include a centralized Work Center, a guided App Builder Wizard, automated application generation from Excel, and a robust business intelligence module. The platform now integrates with ServiceNow, Jira, Microsoft Power Automate, and Ethereum Blockchain, expanding its extensive list of over 70 out-of-the-box integrations. This release aims to support the growth of Citizen Developers and enable scalable business automation for organizations of all sizes. AgilePoint's advancements could potentially enhance the ecosystem of Microsoft Power Automate, making it a relevant consideration for investors in Microsoft. (Sentiment: positive)"" "
Chinese News:
全球疫情带来的居家办公进一步助推了微软业绩。10月27日，微软发布2021财年一季报，在截至9月30日的3个月中，微软营收增长12%至372亿美元，净利润138.9亿美元，财务数据都高于华尔街预期。软股价涨1.51%，报收213.25美元。推动微软股价上涨最重要的原因是微软云计算服务Azure的更新。微软介绍，受微软云服务Azure营收增长48%的提振，公司的服务器产品和云服务综合营收增长了22%。Azure在微软所属的单元“智能云”营收130亿美元，比去年同期增长20%，它也成为微软本季度表现最好的三个单元之一。路透社称，微软将几套软件和服务，如Office和Azure，打包为“商业云”，投资者密切关注该指标来评估其向大型企业的销售进展。微软的商业云业务毛利率为71%，上年同期为66%。另外表现最好的两个单元中，其一是包括了Office办公软件和职场社交平台领英(LinkedIn)的“生产力与商业流程”——营收123亿美元，同比增长11%；其二是包括了Windows系统和Xbox游戏机的“更个性化的计算”——营收118亿美元，同比增长 6%。微软第三季度财报中还有一些亮点：Surface笔记本电脑营收比去年同期增长37%；必应搜索(Bing)收入下降，公司称这是因为剔除了流量获取开支的搜索广告收入减少了10%；商业云营收152亿美元，比去年同期增长31%；领英的季度营收增长16%；游戏营收比去年同期增长22%。在消费者PC端的需求上，非专业Windows电脑代工生产(OEM)比去年同期营收增长31%，但专业Windows电脑的产品线代工生产同比下降22%。所有门类加上后，微软代工生产收入总体降低了5%。微软的视频会议协作软件Teams用户数量也大幅增加。微软CEO纳德拉称，Teams现在的日活跃用户超过1.15亿，4月份的日活跃用户为7500万。《华尔街日报》援引纳德拉的话称，很明显，人们在工作的时间、地点和方式上将需要更多灵活性。他表示：“下一个十年企业的经济表现将取决于它们数字化转型的速度。”报道还称，微软预计，新冠疫情时期云计算服务、电子游戏和电脑需求的激增至少会在今年剩余时间持续。
Japanese News:
"ニューヨーク（ＣＮＮ Ｂｕｓｉｎｅｓｓ） 米マイクロソフトが２７日発表した７～９月期の決算は、売上高が市場予想を大きく上回るなど、クラウドサービスやゲームの需要拡大を反映した好調な内容となった。 ７～９月期の売上高は３７２億ドル（約３兆８８００億円）と、市場予想の３５８億ドルを大幅に上回った。 インテリジェント・クラウド部門は売上高１３０億ドルと、前年同期比２０％増。特にクラウドサービス「Ａｚｕｒｅ（アジュール）」の売り上げは４８％の伸びを示したが、前年同期の伸び率５９％には及ばなかった。 パーソナル・コンピューティング部門の売上高はゲーム機「Ｘｂｏｘ」、ノートパソコン「Ｓｕｒｆａｃｅ（サーフェス）」の需要拡大で前年同期比６％増の１１８．５億ドルとなった。 １株当たり純利益も１．８２ドルと、市場予想の１．５５ドルを上回った。 ナデラ最高経営責任者（ＣＥＯ）は、新型コロナウイルス感染拡大を受けた在宅勤務の増加によるアジュールやビデオ会議サービス「Ｔｅａｍｓ（チームズ）」の需要増が追い風になったとの認識を示した。 同社は来月、次世代ゲーム機「ＸｂｏｘシリーズＸ」を発売する予定。その売れ行きに注目が集まっている。"
Spanish News:
"San Francisco (EEUU), 27 oct (EFE).- El gigante estadounidense del software Microsoft anunció este martes que entre julio y septiembre obtuvo unos beneficios netos de 13.893 millones de dólares, un 30 % más que en el mismo período del ejercicio anterior, aupado por su plataforma de computación en la nube. La empresa de Redmond (estado de Washington) facturó durante los pasados tres meses -los primeros de su año fiscal 2021- 37.154 millones de dólares, por encima de los 33.055 millones reportados en octubre de 2019.Los accionistas de Microsoft, por su parte, se embolsaron 1,84 dólares por título, frente a los 1,40 del mismo período del ejercicio pasado. "
Greek News:
"Λόγω των επιδράσεων του COVID-19, υπάρχει μεγάλη αβεβαιότητα στην παγκόσμια οικονομία. Η Microsoft, παρόλο αυτής της αβεβαιότητας, συνεχίζει να επενδύει με διαφορετικούς τρόπους. Η εταιρία συνεχίζει και επενδύει στα παραδοσιακά της προϊόντα και τεχνολογίες, όπως τα Windows και το Office. Επίσης, επενδύει σε σύγχρονες λύσεις cloud αλλά και τεχνητής νοημοσύνης, όπως το Azure αλλά και άλλες σχετικές υπηρεσίες. Παράλληλα, επεκτείνεται με εξαγορές αλλά και ανάπτυξη σε άλλους τομείς, όπως με το LinkedIn, το Bing, το Edge, το HoloLens αλλά και γενικότερα υπηρεσίες Internet-of-Things. Αυτή η πολυδιάστατη στρατηγική, επισημαίνει την δέσμευση της εταιρίας στην καινοτομία, αλλά παράλληλα συνοδεύεται από κινδύνους. Ένας κίνδυνος, για παράδειγμα, προέρχεται από τη πολυπλοκότητα της υλοποίησης τεχνολογικών έργων, αλλά και από την αβεβαιότητα ως προς την ανταπόκριση της αγοράς σε αυτά τα έργα. Επιπλέον, υπάρχει μεγάλος ανταγωνισμός στην υλοποίηση τεχνολογικών έργων. Η εταιρία δίνει μεγάλη έμφαση στην ανάπτυξη λύσεων Cloud και τεχνητής νοημοσύνης, κλάδους στους οποίους η Microsoft στοχεύει να ηγηθεί. Ωστόσο, όπως προαναφέρθηκε, ο έντονος ανταγωνισμός και οι απαιτήσεις καθιστούν την μακροπρόθεσμη επιτυχία της εταιρίας εξαρτώμενη από την συνεχή τεχνολογική υπεροχή αλλά και την ικανότητα προσαρμογής της στις μεταβολές της αγοράς. Τα παραπάνω επιβεβαιώνονται από τα χρηματοοικονομικά αποτελέσματα της εταιρίας. Συγκεκριμένα, η Microsoft κατέγραψε μη πραγματοποιηθείσα ζημία ύψους 201 εκατομμυρίων δολαρίων το τρίτο τρίμηνο του 2020, σε αντίθεση με κέρδος 577 εκατομμυρίων δολαρίων κατά την αντίστοιχη περίοδο του 2019, γεγονός που αντανακλά τη μεταβλητότητα και την αβεβαιότητα που μπορεί να συνοδεύουν τις επενδυτικές της επιλογές."
Question:
What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: Maintaining high margins through cloud services and operational efficiency
Financial Statement Evidence: The company effectively improved its financial performance through strategic operational management. Gross margin increased from $22,649 million to $26,152 million, with commercial cloud gross margin rising from 66% to 71%. Operating income showed a substantial jump from $12,686 million to $15,876 million. |
MSFT_20201027 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 |
|:-------------------------------------------------------------------------------------|:-----------|:------------------|:-----------|:-----------|:-------------|:-----------|:-----------|:-----------|
| (In millions) (Unaudited) | | | | | | | | |
| | | | | | | | | |
| | | | | | | | | |
| | | September 30,2020 | | | June 30,2020 | | | |
| | | | | | | | | |
| Assets | | | | | | | | |
| Current assets: | | | | | | | | |
| Cash and cash equivalents | | $ | 17,205 | | | $ | 13,576 | |
| Short-term investments | | | 120,772 | | | | 122,951 | |
| | | | | | | | | |
| | | | | | | | | |
| Total cash, cash equivalents, and short-term investments | | | 137,977 | | | | 136,527 | |
| Accounts receivable, net of allowance for doubtful accounts of$610and $788 | | | 22,851 | | | | 32,011 | |
| Inventories | | | 2,705 | | | | 1,895 | |
| Other current assets | | | 13,544 | | | | 11,482 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current assets | | | 177,077 | | | | 181,915 | |
| Property and equipment, net of accumulated depreciation of$45,417and $43,197 | | | 47,927 | | | | 44,151 | |
| Operating lease right-of-use assets | | | 9,047 | | | | 8,753 | |
| Equity investments | | | 3,103 | | | | 2,965 | |
| Goodwill | | | 43,890 | | | | 43,351 | |
| Intangible assets, net | | | 6,923 | | | | 7,038 | |
| Other long-term assets | | | 13,034 | | | | 13,138 | |
| | | | | | | | | |
| | | | | | | | | |
| Total assets | | $ | 301,001 | | | $ | 301,311 | |
| | | | | | | | | |
| | | | | | | | | |
| Liabilities and stockholders’ equity | | | | | | | | |
| Current liabilities: | | | | | | | | |
| Accounts payable | | $ | 12,509 | | | $ | 12,530 | |
| Current portion of long-term debt | | | 6,497 | | | | 3,749 | |
| Accrued compensation | | | 5,714 | | | | 7,874 | |
| Short-term income taxes | | | 2,384 | | | | 2,130 | |
| Short-term unearned revenue | | | 33,476 | | | | 36,000 | |
| Other current liabilities | | | 9,476 | | | | 10,027 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current liabilities | | | 70,056 | | | | 72,310 | |
| Long-term debt | | | 57,055 | | | | 59,578 | |
| Long-term income taxes | | | 28,204 | | | | 29,432 | |
| Long-term unearned revenue | | | 2,829 | | | | 3,180 | |
| Deferred income taxes | | | 187 | | | | 204 | |
| Operating lease liabilities | | | 7,753 | | | | 7,671 | |
| Other long-term liabilities | | | 11,525 | | | | 10,632 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities | | | 177,609 | | | | 183,007 | |
| | | | | | | | | |
| | | | | | | | | |
| Commitments and contingencies | | | | | | | | |
| Stockholders’ equity: | | | | | | | | |
| Common stock and paid-in capital – shares authorized24,000; outstanding7,564and7,571 | | | 81,089 | | | | 80,552 | |
| Retained earnings | | | 39,193 | | | | 34,566 | |
| Accumulated other comprehensive income | | | 3,110 | | | | 3,186 | |
| | | | | | | | | |
| | | | | | | | | |
| Total stockholders’ equity | | | 123,392 | | | | 118,304 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities and stockholders’ equity | | $ | 301,001 | | | $ | 301,311 | |
| | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 |
|:---------------------------------------------------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|
| (In millions) (Unaudited) | | | | | | | | |
| | | | | | | | | |
| | | | | | | | | |
| Three Months Ended September 30, | | 2020 | | | 2019 | | | |
| | | | | | | | | |
| Operations | | | | | | | | |
| Net income | | $ | 13,893 | | | $ | 10,678 | |
| Adjustments to reconcile net income to net cash from operations: | | | | | | | | |
| Depreciation, amortization, and other | | | 2,645 | | | | 2,971 | |
| Stock-based compensation expense | | | 1,456 | | | | 1,262 | |
| Net recognized losses (gains) on investments and derivatives | | | (128 | ) | | | 11 | |
| Deferred income taxes | | | (11 | ) | | | (177 | ) |
| Changes in operating assets and liabilities: | | | | | | | | |
| Accounts receivable | | | 8,843 | | | | 10,090 | |
| Inventories | | | (808 | ) | | | (561 | ) |
| Other current assets | | | (54 | ) | | | (438 | ) |
| Other long-term assets | | | (62 | ) | | | (333 | ) |
| Accounts payable | | | 315 | | | | (547 | ) |
| Unearned revenue | | | (3,064 | ) | | | (2,892 | ) |
| Income taxes | | | (983 | ) | | | (3,336 | ) |
| Other current liabilities | | | (2,951 | ) | | | (3,320 | ) |
| Other long-term liabilities | | | 244 | | | | 410 | |
| | | | | | | | | |
| | | | | | | | | |
| Net cash from operations | | | 19,335 | | | | 13,818 | |
| | | | | | | | | |
| | | | | | | | | |
| Financing | | | | | | | | |
| Repayments of debt | | | 0 | | | | (2,500 | ) |
| Common stock issued | | | 545 | | | | 427 | |
| Common stock repurchased | | | (6,743 | ) | | | (4,912 | ) |
| Common stock cash dividends paid | | | (3,856 | ) | | | (3,510 | ) |
| Other, net | | | (235 | ) | | | 286 | |
| | | | | | | | | |
| | | | | | | | | |
| Net cash used in financing | | | (10,289 | ) | | | (10,209 | ) |
| | | | | | | | | |
| | | | | | | | | |
| Investing | | | | | | | | |
| Additions to property and equipment | | | (4,907 | ) | | | (3,385 | ) |
| Acquisition of companies, net of cash acquired, and purchases of intangible and other assets | | | (481 | ) | | | (462 | ) |
| Purchases of investments | | | (14,580 | ) | | | (23,390 | ) |
| Maturities of investments | | | 14,266 | | | | 19,082 | |
| Sales of investments | | | 2,414 | | | | 6,379 | |
| Other, net | | | (2,083 | ) | | | 0 | |
| | | | | | | | | |
| | | | | | | | | |
| Net cash used in investing | | | (5,371 | ) | | | (1,776 | ) |
| | | | | | | | | |
| | | | | | | | | |
| Effect of foreign exchange rates on cash and cash equivalents | | | (46 | ) | | | (72 | ) |
| | | | | | | | | |
| | | | | | | | | |
| Net change in cash and cash equivalents | | | 3,629 | | | | 1,761 | |
| Cash and cash equivalents, beginning of period | | | 13,576 | | | | 11,356 | |
| | | | | | | | | |
| | | | | | | | | |
| Cash and cash equivalents, end of period | | $ | 17,205 | | | $ | 13,117 | |
| | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 |
|:----------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|
| (In millions, except per share amounts) (Unaudited) | | | | | | | | |
| | | | | | | | | |
| | | | | | | | | |
| Three Months Ended September 30, | | 2020 | | | 2019 | | | |
| | | | | | | | | |
| Revenue: | | | | | | | | |
| Product | | $ | 15,803 | | | $ | 15,768 | |
| Service and other | | | 21,351 | | | | 17,287 | |
| | | | | | | | | |
| | | | | | | | | |
| Total revenue | | | 37,154 | | | | 33,055 | |
| | | | | | | | | |
| | | | | | | | | |
| Cost of revenue: | | | | | | | | |
| Product | | | 3,597 | | | | 3,305 | |
| Service and other | | | 7,405 | | | | 7,101 | |
| | | | | | | | | |
| | | | | | | | | |
| Total cost of revenue | | | 11,002 | | | | 10,406 | |
| | | | | | | | | |
| | | | | | | | | |
| Gross margin | | | 26,152 | | | | 22,649 | |
| Research and development | | | 4,926 | | | | 4,565 | |
| Sales and marketing | | | 4,231 | | | | 4,337 | |
| General and administrative | | | 1,119 | | | | 1,061 | |
| | | | | | | | | |
| | | | | | | | | |
| Operating income | | | 15,876 | | | | 12,686 | |
| Other income, net | | | 248 | | | | 0 | |
| | | | | | | | | |
| | | | | | | | | |
| Income before income taxes | | | 16,124 | | | | 12,686 | |
| Provision for income taxes | | | 2,231 | | | | 2,008 | |
| | | | | | | | | |
| | | | | | | | | |
| Net income | | $ | 13,893 | | | $ | 10,678 | |
| | | | | | | | | |
| | | | | | | | | |
| Earnings per share: | | | | | | | | |
| Basic | | $ | 1.84 | | | $ | 1.40 | |
| Diluted | | $ | 1.82 | | | $ | 1.38 | |
| | | | | | | | | |
| Weighted average shares outstanding: | | | | | | | | |
| Basic | | | 7,566 | | | | 7,634 | |
| Diluted | | | 7,637 | | | | 7,710 | |
| | | | | | | | | |
---
English News:
"""Cincom Systems, Inc. has partnered with Reenhanced to implement CPQSync, a cloud-based solution designed to enhance the configure-price-quote process within Microsoft Dynamics 365. This partnership aims to help businesses maximize their investments in Microsoft Dynamics 365 by integrating CPQSync, which is fully embedded within the platform and leverages Microsoft Azure and Power Platform. The solution promises to streamline sales processes, eliminate informational silos, and improve cross-departmental collaboration. This collaboration could potentially increase the value proposition of Microsoft Dynamics 365, making it a more attractive option for businesses seeking comprehensive CRM solutions. Investors in Microsoft (MSFT) may view this partnership as a positive development, potentially driving increased adoption and customer satisfaction for Microsoft Dynamics 365. (Sentiment: positive)"", ""Vyopta has expanded its support to include Poly's latest Studio X Series and G7500 room systems, enhancing real-time monitoring and troubleshooting capabilities for these devices. This update also improves support for Poly's Trio devices and continues to support older endpoints, ensuring comprehensive visibility across all deployed endpoints. The new capabilities allow Poly's Studio X Series to natively register with Zoom and Microsoft Teams, facilitating seamless integration with leading UCaaS solutions. This development underscores Vyopta's commitment to supporting Microsoft Teams, which could enhance user experience and performance for enterprises using Microsoft's UCaaS solutions. The expanded support and integration could potentially drive increased adoption and satisfaction of Microsoft Teams among large enterprises, making it a positive indicator for Microsoft's UCaaS market position. (Sentiment: positive)"", ""American Capital Group (ACG) and Artemis Real Estate Partners have formed a joint venture to acquire two multifamily development projects in the Pacific Northwest, specifically in Kirkland, WA, and Hillsboro, OR. These areas are experiencing rapid population and job growth, driven by high-paying technology jobs from major employers like Microsoft, Amazon, Google, and Facebook. The Lifebridge Kirkland Apartments project, located in the Innovation Triangle near Microsoft's headquarters, will feature 409 residential units and is expected to be completed by Q2 2021. The Amberglen Apartments in Hillsboro, home to Intel and IBM, will offer 352 residential units and is slated for completion by Q4 2021. These investments highlight the growing demand for affordable, high-quality housing in tech-driven suburban markets, which could positively impact the local real estate market and indirectly benefit companies like Microsoft by attracting more talent to the area. (Sentiment: positive)"", ""The Identity and Access Management (IAM) market is projected to grow from USD 11.82 billion in 2019 to USD 29.79 billion by 2027, at a CAGR of 13.21%. Key growth drivers include increased spending on security solutions by government bodies and large enterprises to combat identity theft and comply with regulations, as well as the rising need for IAM in IoT applications. Major players in the market include Microsoft Corporation, Sailpoint Technologies, Oracle Corporation, Dell EMC, and IBM Corporation. IAM solutions are essential for providing secure, consistent, and enhanced user experiences, which is crucial for both SMEs and large enterprises. This growth potential and Microsoft's significant presence in the IAM market make it a compelling investment opportunity. (Sentiment: positive)"", ""The Global Blockchain in Aerospace & Defense Market is projected to grow significantly from USD 941.36 million in 2019 to USD 7,809.18 million by 2025, at a CAGR of 42.27%. Key application areas include certifications, digital ID, provenance, smart contracts, and tokenization, with significant growth opportunities across the Americas, Asia-Pacific, and Europe, Middle East & Africa. Microsoft Corporation is highlighted as a leading vendor, indicating its strong position and potential for growth in this market. The report emphasizes the impact of COVID-19 on market dynamics, including changes in consumer behavior and supply chain disruptions. Investment opportunities are identified in emerging markets, new product developments, and strategic moves such as mergers and acquisitions. (Sentiment: positive)"", ""The Global Blockchain in Energy Market is projected to grow significantly from USD 524.22 million in 2019 to USD 4,830.84 million by 2025, at a CAGR of 44.79%. Key segments include components (Platform and Services), types (Private and Public), end-users (Oil and Gas, Power Sector), and applications (Energy Trading, Grid Management, etc.). Microsoft, among other leading vendors, is highlighted for its significant developments and innovation in this market. The report emphasizes the impact of COVID-19 on market dynamics, consumer behavior, and supply chains. Investment opportunities are identified in emerging markets, new product launches, and strategic moves like mergers and acquisitions. (Sentiment: positive)"", ""The Global Blockchain Technology in Healthcare Market is projected to grow significantly from USD 5,475.81 million in 2019 to USD 38,747.63 million by 2025, at a CAGR of 38.55%. Key segments include Claims Adjudication & Billing Management, Clinical Data Exchange & Interoperability, and Supply Chain Management, with major end users being Healthcare Payers, Providers, and Pharmaceutical Companies. Microsoft Corporation is highlighted as a leading vendor, indicating its strong position and potential for growth in this market. The report also emphasizes the impact of COVID-19 on market dynamics, including changes in consumer behavior and supply chain disruptions. Investment opportunities are identified in emerging markets, new product developments, and strategic moves such as mergers and acquisitions. (Sentiment: positive)"", ""The Global Blockchain-as-a-Service (BaaS) Market is projected to grow significantly from USD 755.34 million in 2019 to USD 9,334.19 million by 2025, at a CAGR of 52.05%. Key players in this market include Microsoft Corporation (MSFT), IBM, Oracle, and SAP, among others. The report highlights the impact of COVID-19 on market dynamics, including changes in consumer behavior, supply chain disruptions, and government interventions. Microsoft's strong positioning in the market is supported by its comprehensive business strategy and product satisfaction, making it a favorable investment opportunity. The report also emphasizes the importance of market penetration, development, and diversification strategies for future growth. (Sentiment: positive)"", ""The global Cloud Automation market is projected to grow from $35.5 billion in 2020 to $149.9 billion by 2027, with a CAGR of 22.8%. The public cloud segment is expected to grow at a 24% CAGR, while the private cloud segment is readjusted to a 20.7% CAGR. The U.S. market is estimated at $10.6 billion in 2020, with China forecasted to grow at a 22.3% CAGR, reaching $26.1 billion by 2027. Key competitors in the market include Microsoft Corporation, Amazon Web Services, Google Cloud Platform, and others. This rapid growth and competitive landscape highlight significant investment opportunities in cloud automation, particularly for major players like Microsoft. (Sentiment: positive)"", ""BrainSell has partnered with Aircall to offer cloud-based phone systems to growth-focused businesses in North America, emphasizing the importance of integrating telephony with CRM, marketing automation, and customer support systems. This partnership aims to streamline call tracking and enhance productivity by providing features like click-to-dial, sales dialers, and smart IVR directories. The integration capabilities with major platforms such as SugarCRM, Zendesk, Microsoft Dynamics, SalesLoft, Salesforce, and HubSpot are highlighted, potentially increasing the value proposition for Microsoft Dynamics users. Aircall's cloud-based system is designed for easy setup, use, and scalability, which aligns with BrainSell's focus on faster adoption and ROI. This collaboration could drive increased adoption of cloud-based telephony solutions, benefiting companies that leverage Microsoft Dynamics for their business operations. (Sentiment: positive)"", ""AgilePoint has launched version 8.0 of its digital process automation PaaS, designed for users with minimal coding experience, featuring a revamped user interface and enhanced functionality. Key updates include a centralized Work Center, a guided App Builder Wizard, automated application generation from Excel, and a robust business intelligence module. The platform now integrates with ServiceNow, Jira, Microsoft Power Automate, and Ethereum Blockchain, expanding its extensive list of over 70 out-of-the-box integrations. This release aims to support the growth of Citizen Developers and enable scalable business automation for organizations of all sizes. AgilePoint's advancements could potentially enhance the ecosystem of Microsoft Power Automate, making it a relevant consideration for investors in Microsoft. (Sentiment: positive)"" "
Chinese News:
全球疫情带来的居家办公进一步助推了微软业绩。10月27日，微软发布2021财年一季报，在截至9月30日的3个月中，微软营收增长12%至372亿美元，净利润138.9亿美元，财务数据都高于华尔街预期。软股价涨1.51%，报收213.25美元。推动微软股价上涨最重要的原因是微软云计算服务Azure的更新。微软介绍，受微软云服务Azure营收增长48%的提振，公司的服务器产品和云服务综合营收增长了22%。Azure在微软所属的单元“智能云”营收130亿美元，比去年同期增长20%，它也成为微软本季度表现最好的三个单元之一。路透社称，微软将几套软件和服务，如Office和Azure，打包为“商业云”，投资者密切关注该指标来评估其向大型企业的销售进展。微软的商业云业务毛利率为71%，上年同期为66%。另外表现最好的两个单元中，其一是包括了Office办公软件和职场社交平台领英(LinkedIn)的“生产力与商业流程”——营收123亿美元，同比增长11%；其二是包括了Windows系统和Xbox游戏机的“更个性化的计算”——营收118亿美元，同比增长 6%。微软第三季度财报中还有一些亮点：Surface笔记本电脑营收比去年同期增长37%；必应搜索(Bing)收入下降，公司称这是因为剔除了流量获取开支的搜索广告收入减少了10%；商业云营收152亿美元，比去年同期增长31%；领英的季度营收增长16%；游戏营收比去年同期增长22%。在消费者PC端的需求上，非专业Windows电脑代工生产(OEM)比去年同期营收增长31%，但专业Windows电脑的产品线代工生产同比下降22%。所有门类加上后，微软代工生产收入总体降低了5%。微软的视频会议协作软件Teams用户数量也大幅增加。微软CEO纳德拉称，Teams现在的日活跃用户超过1.15亿，4月份的日活跃用户为7500万。《华尔街日报》援引纳德拉的话称，很明显，人们在工作的时间、地点和方式上将需要更多灵活性。他表示：“下一个十年企业的经济表现将取决于它们数字化转型的速度。”报道还称，微软预计，新冠疫情时期云计算服务、电子游戏和电脑需求的激增至少会在今年剩余时间持续。
Japanese News:
"ニューヨーク（ＣＮＮ Ｂｕｓｉｎｅｓｓ） 米マイクロソフトが２７日発表した７～９月期の決算は、売上高が市場予想を大きく上回るなど、クラウドサービスやゲームの需要拡大を反映した好調な内容となった。 ７～９月期の売上高は３７２億ドル（約３兆８８００億円）と、市場予想の３５８億ドルを大幅に上回った。 インテリジェント・クラウド部門は売上高１３０億ドルと、前年同期比２０％増。特にクラウドサービス「Ａｚｕｒｅ（アジュール）」の売り上げは４８％の伸びを示したが、前年同期の伸び率５９％には及ばなかった。 パーソナル・コンピューティング部門の売上高はゲーム機「Ｘｂｏｘ」、ノートパソコン「Ｓｕｒｆａｃｅ（サーフェス）」の需要拡大で前年同期比６％増の１１８．５億ドルとなった。 １株当たり純利益も１．８２ドルと、市場予想の１．５５ドルを上回った。 ナデラ最高経営責任者（ＣＥＯ）は、新型コロナウイルス感染拡大を受けた在宅勤務の増加によるアジュールやビデオ会議サービス「Ｔｅａｍｓ（チームズ）」の需要増が追い風になったとの認識を示した。 同社は来月、次世代ゲーム機「ＸｂｏｘシリーズＸ」を発売する予定。その売れ行きに注目が集まっている。"
Spanish News:
"San Francisco (EEUU), 27 oct (EFE).- El gigante estadounidense del software Microsoft anunció este martes que entre julio y septiembre obtuvo unos beneficios netos de 13.893 millones de dólares, un 30 % más que en el mismo período del ejercicio anterior, aupado por su plataforma de computación en la nube. La empresa de Redmond (estado de Washington) facturó durante los pasados tres meses -los primeros de su año fiscal 2021- 37.154 millones de dólares, por encima de los 33.055 millones reportados en octubre de 2019.Los accionistas de Microsoft, por su parte, se embolsaron 1,84 dólares por título, frente a los 1,40 del mismo período del ejercicio pasado. "
Greek News:
"Λόγω των επιδράσεων του COVID-19, υπάρχει μεγάλη αβεβαιότητα στην παγκόσμια οικονομία. Η Microsoft, παρόλο αυτής της αβεβαιότητας, συνεχίζει να επενδύει με διαφορετικούς τρόπους. Η εταιρία συνεχίζει και επενδύει στα παραδοσιακά της προϊόντα και τεχνολογίες, όπως τα Windows και το Office. Επίσης, επενδύει σε σύγχρονες λύσεις cloud αλλά και τεχνητής νοημοσύνης, όπως το Azure αλλά και άλλες σχετικές υπηρεσίες. Παράλληλα, επεκτείνεται με εξαγορές αλλά και ανάπτυξη σε άλλους τομείς, όπως με το LinkedIn, το Bing, το Edge, το HoloLens αλλά και γενικότερα υπηρεσίες Internet-of-Things. Αυτή η πολυδιάστατη στρατηγική, επισημαίνει την δέσμευση της εταιρίας στην καινοτομία, αλλά παράλληλα συνοδεύεται από κινδύνους. Ένας κίνδυνος, για παράδειγμα, προέρχεται από τη πολυπλοκότητα της υλοποίησης τεχνολογικών έργων, αλλά και από την αβεβαιότητα ως προς την ανταπόκριση της αγοράς σε αυτά τα έργα. Επιπλέον, υπάρχει μεγάλος ανταγωνισμός στην υλοποίηση τεχνολογικών έργων. Η εταιρία δίνει μεγάλη έμφαση στην ανάπτυξη λύσεων Cloud και τεχνητής νοημοσύνης, κλάδους στους οποίους η Microsoft στοχεύει να ηγηθεί. Ωστόσο, όπως προαναφέρθηκε, ο έντονος ανταγωνισμός και οι απαιτήσεις καθιστούν την μακροπρόθεσμη επιτυχία της εταιρίας εξαρτώμενη από την συνεχή τεχνολογική υπεροχή αλλά και την ικανότητα προσαρμογής της στις μεταβολές της αγοράς. Τα παραπάνω επιβεβαιώνονται από τα χρηματοοικονομικά αποτελέσματα της εταιρίας. Συγκεκριμένα, η Microsoft κατέγραψε μη πραγματοποιηθείσα ζημία ύψους 201 εκατομμυρίων δολαρίων το τρίτο τρίμηνο του 2020, σε αντίθεση με κέρδος 577 εκατομμυρίων δολαρίων κατά την αντίστοιχη περίοδο του 2019, γεγονός που αντανακλά τη μεταβλητότητα και την αβεβαιότητα που μπορεί να συνοδεύουν τις επενδυτικές της επιλογές."
Question:
What are the company's capital expenditures and their strategic significance from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | What are the company's capital expenditures and their strategic significance from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: Strategic capital expenditures in technology and infrastructure
Financial Statement Evidence: Microsoft significantly increased its capital expenditures, with additions to property and equipment rising from $3,385 million to $4,907 million. This investment demonstrated a clear strategic focus on expanding technological infrastructure, particularly in cloud computing, Azure development, and hardware innovations like Surface and Xbox technologies. |
MSFT_20210126 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 |
|:-------------------------------------------------------------------------------------|:-----------|:-----------------|:-----------|:-----------|:-------------|:-----------|:-----------|:-----------|
| (In millions) (Unaudited) | | | | | | | | |
| | | | | | | | | |
| | | | | | | | | |
| | | December 31,2020 | | | June 30,2020 | | | |
| | | | | | | | | |
| Assets | | | | | | | | |
| Current assets: | | | | | | | | |
| Cash and cash equivalents | | $ | 14,432 | | | $ | 13,576 | |
| Short-term investments | | | 117,536 | | | | 122,951 | |
| | | | | | | | | |
| | | | | | | | | |
| Total cash, cash equivalents, and short-term investments | | | 131,968 | | | | 136,527 | |
| Accounts receivable, net of allowance for doubtful accounts of$642and $788 | | | 27,312 | | | | 32,011 | |
| Inventories | | | 1,924 | | | | 1,895 | |
| Other current assets | | | 12,769 | | | | 11,482 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current assets | | | 173,973 | | | | 181,915 | |
| Property and equipment, net of accumulated depreciation of$47,715and $43,197 | | | 51,737 | | | | 44,151 | |
| Operating lease right-of-use assets | | | 10,298 | | | | 8,753 | |
| Equity investments | | | 3,794 | | | | 2,965 | |
| Goodwill | | | 44,219 | | | | 43,351 | |
| Intangible assets, net | | | 6,555 | | | | 7,038 | |
| Other long-term assets | | | 13,561 | | | | 13,138 | |
| | | | | | | | | |
| | | | | | | | | |
| Total assets | | $ | 304,137 | | | $ | 301,311 | |
| | | | | | | | | |
| | | | | | | | | |
| Liabilities and stockholders’ equity | | | | | | | | |
| Current liabilities: | | | | | | | | |
| Accounts payable | | $ | 12,770 | | | $ | 12,530 | |
| Current portion of long-term debt | | | 5,387 | | | | 3,749 | |
| Accrued compensation | | | 6,838 | | | | 7,874 | |
| Short-term income taxes | | | 1,562 | | | | 2,130 | |
| Short-term unearned revenue | | | 30,402 | | | | 36,000 | |
| Other current liabilities | | | 10,527 | | | | 10,027 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current liabilities | | | 67,486 | | | | 72,310 | |
| Long-term debt | | | 55,136 | | | | 59,578 | |
| Long-term income taxes | | | 26,701 | | | | 29,432 | |
| Long-term unearned revenue | | | 2,985 | | | | 3,180 | |
| Deferred income taxes | | | 174 | | | | 204 | |
| Operating lease liabilities | | | 8,875 | | | | 7,671 | |
| Other long-term liabilities | | | 12,544 | | | | 10,632 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities | | | 173,901 | | | | 183,007 | |
| | | | | | | | | |
| | | | | | | | | |
| Commitments and contingencies | | | | | | | | |
| Stockholders’ equity: | | | | | | | | |
| Common stock and paid-in capital – shares authorized24,000; outstanding7,546and7,571 | | | 81,896 | | | | 80,552 | |
| Retained earnings | | | 44,973 | | | | 34,566 | |
| Accumulated other comprehensive income | | | 3,367 | | | | 3,186 | |
| | | | | | | | | |
| | | | | | | | | |
| Total stockholders’ equity | | | 130,236 | | | | 118,304 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities and stockholders’ equity | | $ | 304,137 | | | $ | 301,311 | |
| | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 |
|:---------------------------------------------------------------------------------------------|:-----------|:-------------------------------|:-----------|:-----------|:-----------|:-----------------------------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| (In millions) (Unaudited) | | Three Months EndedDecember 31, | | | | Six Months EndedDecember 31, | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | 2020 | | | 2019 | | | | 2020 | | | | 2019 | | | |
| | | | | | | | | | | | | | | | | |
| Operations | | | | | | | | | | | | | | | | |
| Net income | | $ | 15,463 | | | $ | 11,649 | | | $ | 29,356 | | | $ | 22,327 | |
| Adjustments to reconcile net income to net cash from operations: | | | | | | | | | | | | | | | | |
| Depreciation, amortization, and other | | | 2,761 | | | | 3,203 | | | | 5,406 | | | | 6,174 | |
| Stock-based compensation expense | | | 1,566 | | | | 1,340 | | | | 3,022 | | | | 2,602 | |
| Net recognized gains on investments and derivatives | | | (354 | ) | | | (203 | ) | | | (482 | ) | | | (192 | ) |
| Deferred income taxes | | | (17 | ) | | | (53 | ) | | | (28 | ) | | | (230 | ) |
| Changes in operating assets and liabilities: | | | | | | | | | | | | | | | | |
| Accounts receivable | | | (4,008 | ) | | | (4,203 | ) | | | 4,835 | | | | 5,887 | |
| Inventories | | | 788 | | | | 799 | | | | (20 | ) | | | 238 | |
| Other current assets | | | 730 | | | | 165 | | | | 676 | | | | (273 | ) |
| Other long-term assets | | | (1,499 | ) | | | (517 | ) | | | (1,561 | ) | | | (850 | ) |
| Accounts payable | | | 33 | | | | (7 | ) | | | 348 | | | | (554 | ) |
| Unearned revenue | | | (3,227 | ) | | | (2,936 | ) | | | (6,291 | ) | | | (5,828 | ) |
| Income taxes | | | (2,368 | ) | | | (471 | ) | | | (3,351 | ) | | | (3,807 | ) |
| Other current liabilities | | | 1,755 | | | | 1,489 | | | | (1,196 | ) | | | (1,831 | ) |
| Other long-term liabilities | | | 893 | | | | 425 | | | | 1,137 | | | | 835 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net cash from operations | | | 12,516 | | | | 10,680 | | | | 31,851 | | | | 24,498 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Financing | | | | | | | | | | | | | | | | |
| Repayments of debt | | | (3,250 | ) | | | (18 | ) | | | (3,250 | ) | | | (2,518 | ) |
| Common stock issued | | | 302 | | | | 234 | | | | 847 | | | | 661 | |
| Common stock repurchased | | | (6,535 | ) | | | (5,206 | ) | | | (13,278 | ) | | | (10,118 | ) |
| Common stock cash dividends paid | | | (4,230 | ) | | | (3,886 | ) | | | (8,086 | ) | | | (7,396 | ) |
| Other, net | | | 79 | | | | (39 | ) | | | (156 | ) | | | 247 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net cash used in financing | | | (13,634 | ) | | | (8,915 | ) | | | (23,923 | ) | | | (19,124 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Investing | | | | | | | | | | | | | | | | |
| Additions to property and equipment | | | (4,174 | ) | | | (3,545 | ) | | | (9,081 | ) | | | (6,930 | ) |
| Acquisition of companies, net of cash acquired, and purchases of intangible and other assets | | | (415 | ) | | | (80 | ) | | | (896 | ) | | | (542 | ) |
| Purchases of investments | | | (15,092 | ) | | | (19,011 | ) | | | (29,672 | ) | | | (42,401 | ) |
| Maturities of investments | | | 15,264 | | | | 11,230 | | | | 29,530 | | | | 30,312 | |
| Sales of investments | | | 2,421 | | | | 5,370 | | | | 4,835 | | | | 11,749 | |
| Other, net | | | 327 | | | | 0 | | | | (1,756 | ) | | | 0 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net cash used in investing | | | (1,669 | ) | | | (6,036 | ) | | | (7,040 | ) | | | (7,812 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Effect of foreign exchange rates on cash and cash equivalents | | | 14 | | | | 18 | | | | (32 | ) | | | (54 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net change in cash and cash equivalents | | | (2,773 | ) | | | (4,253 | ) | | | 856 | | | | (2,492 | ) |
| Cash and cash equivalents, beginning of period | | | 17,205 | | | | 13,117 | | | | 13,576 | | | | 11,356 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Cash and cash equivalents, end of period | | $ | 14,432 | | | $ | 8,864 | | | $ | 14,432 | | | $ | 8,864 | |
| | | | | | | | | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 |
|:----------------------------------------------------|:-----------|:-----------|:-------------------------------|:-----------|:-----------|:-----------|:-----------------------------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| (In millions, except per share amounts) (Unaudited) | | | Three Months EndedDecember 31, | | | | Six Months EndedDecember 31, | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | | 2020 | | | | 2019 | | | | 2020 | | | | 2019 | |
| | | | | | | | | | | | | | | | | |
| Revenue: | | | | | | | | | | | | | | | | |
| Product | | $ | 19,460 | | | $ | 18,255 | | | $ | 35,263 | | | $ | 34,023 | |
| Service and other | | | 23,616 | | | | 18,651 | | | | 44,967 | | | | 35,938 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Total revenue | | | 43,076 | | | | 36,906 | | | | 80,230 | | | | 69,961 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Cost of revenue: | | | | | | | | | | | | | | | | |
| Product | | | 6,058 | | | | 4,966 | | | | 9,655 | | | | 8,271 | |
| Service and other | | | 8,136 | | | | 7,392 | | | | 15,541 | | | | 14,493 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Total cost of revenue | | | 14,194 | | | | 12,358 | | | | 25,196 | | | | 22,764 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Gross margin | | | 28,882 | | | | 24,548 | | | | 55,034 | | | | 47,197 | |
| Research and development | | | 4,899 | | | | 4,603 | | | | 9,825 | | | | 9,168 | |
| Sales and marketing | | | 4,947 | | | | 4,933 | | | | 9,178 | | | | 9,270 | |
| General and administrative | | | 1,139 | | | | 1,121 | | | | 2,258 | | | | 2,182 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Operating income | | | 17,897 | | | | 13,891 | | | | 33,773 | | | | 26,577 | |
| Other income, net | | | 440 | | | | 194 | | | | 688 | | | | 194 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Income before income taxes | | | 18,337 | | | | 14,085 | | | | 34,461 | | | | 26,771 | |
| Provision for income taxes | | | 2,874 | | | | 2,436 | | | | 5,105 | | | | 4,444 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net income | | $ | 15,463 | | | $ | 11,649 | | | $ | 29,356 | | | $ | 22,327 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Earnings per share: | | | | | | | | | | | | | | | | |
| Basic | | $ | 2.05 | | | $ | 1.53 | | | $ | 3.88 | | | $ | 2.93 | |
| Diluted | | $ | 2.03 | | | $ | 1.51 | | | $ | 3.85 | | | $ | 2.90 | |
| | | | | | | | | | | | | | | | | |
| Weighted average shares outstanding: | | | | | | | | | | | | | | | | |
| Basic | | | 7,555 | | | | 7,621 | | | | 7,561 | | | | 7,628 | |
| Diluted | | | 7,616 | | | | 7,691 | | | | 7,627 | | | | 7,701 | |
| | | | | | | | | | | | | | | | | |
---
English News:
"""Medable Inc. has appointed Parag Vaish as Chief Product Officer, leveraging his extensive experience in product innovation from roles at Tesla, Epocrates, and StubHub. Vaish's expertise in creating intuitive and frictionless user experiences aligns with Medable's mission to transform the clinical trial process for patients and clinicians. Medable has demonstrated significant growth, with a 400% revenue increase in 2020 and $118 million in new funding, driven by the launch of five new products and the acquisition of 50 new clients. The company's digital platform aims to streamline decentralized clinical trials, enhancing patient access and retention while accelerating trial execution. This strategic hire and Medable's robust growth trajectory suggest a strong potential for continued innovation and market expansion in the healthcare technology sector. (Sentiment: positive)"", ""The Ireland Data Center Market is projected to grow at a CAGR of 6.7% from 2020 to 2025, driven by increased hyperscale investments and the implementation of GDPR, which has boosted data traffic. Dublin has become a cloud computing hub with major players like Microsoft, Google, AWS, and IBM, and connectivity to cloud service providers is crucial for colocation providers. Microsoft has expanded its data center campus by acquiring 20 acres in Grange Castle, indicating significant investment in the region. The market is moderately competitive, with key players adopting strategies like partnerships and mergers to enhance their market positions. The COVID-19 pandemic has had a moderate impact on construction projects, but future projects may face more significant challenges. (Sentiment: positive)"", ""Attabotics and FoodX Technologies have partnered to offer a comprehensive micro-fulfillment solution for the grocery e-commerce market, leveraging Microsoft's Azure platform. This joint solution aims to provide significant cost savings, increased delivery speed, and improved unit economics for retailers by combining Attabotics' 3D robotics system with FoodX's eGrocery software. The use of Microsoft Azure Private Edge Zones, Azure Stack Edge, and Azure Sphere will enhance the digital supply chain with advanced data and AI capabilities. This partnership is expected to capitalize on the growing e-commerce market, particularly in the wake of the COVID-19 pandemic, by enabling more efficient and sustainable fulfillment operations. The collaboration underscores Microsoft's strategic role in transforming supply chain logistics and could drive further adoption of Azure services in the retail sector. (Sentiment: positive)"", ""Illusive has launched an automated detection and response partner ecosystem program, integrating with Microsoft Azure Sentinel and Azure Active Directory to enhance cybersecurity measures. This collaboration aims to fill the market gap in automated threat detection by continuously identifying and removing risky credentials, thus preventing lateral movement by attackers. Illusive's integration with Azure Sentinel provides custom dashboards for immediate action on threats, while Azure Active Directory benefits from continuous credential hygiene. The partnership with Microsoft enhances the security stack, offering comprehensive protection against emerging threats. This development could strengthen Microsoft's position in the cybersecurity market, potentially making it a more attractive investment. (Sentiment: positive)"", ""Mobilize.Net has partnered with Infragistics to develop automated migration tools for Silverlight, facilitating the transition to Angular and HTML, which could benefit Microsoft's ecosystem by reducing technical debt and modernizing legacy applications. The release of a free migration assessment tool for Silverlight by Mobilize.Net provides detailed inventories and modernization insights, potentially increasing the adoption of Microsoft's cloud and web platforms. Mobilize.Net's technology, already favored by Snowflake and Microsoft customers, underscores its reliability and effectiveness in large-scale code modernization. This partnership aligns with Microsoft's strategic focus on cloud and web services, potentially driving further growth and customer retention. The collaboration highlights the ongoing demand for tools that enhance developer productivity and modernize legacy systems, which could positively impact Microsoft's market position. (Sentiment: positive)"", ""SAS is launching a series of global hackathons, starting with the #HackinSAS event in March, to foster innovation using advanced analytics, AI, and cloud technologies. These hackathons will leverage the SAS Viya analytics platform running on Microsoft Azure, highlighting a strategic partnership between SAS and Microsoft. Participants, including SAS customers, technology partners, independent developers, students, and startups, will collaborate to solve significant business and humanitarian challenges. The initiative aims to create viable applications and products that SAS will help develop and commercialize, potentially driving demand for Microsoft's Azure services. This collaboration underscores Microsoft's commitment to supporting innovative solutions and expanding its cloud platform's reach. (Sentiment: positive)"", ""The global automotive cloud market is projected to grow significantly by 2025, driven by increasing connected vehicles, demand for IoT and 5G communication, and changing consumer preferences towards advanced vehicle applications. The infotainment segment is expected to dominate the market, with passenger vehicles leading in terms of value. Key players in the market include Microsoft, Amazon Web Services, and other major tech and automotive companies. The report highlights emerging opportunities such as the integration of blockchain and the rise of autonomous and ride-sharing services. Microsoft's involvement in the automotive cloud market positions it well to capitalize on these growth trends and technological advancements. (Sentiment: positive)"", ""Beezy Inc. has successfully deployed its digital workplace solution in Microsoft's Government Community Cloud (GCC) High environment, catering to highly regulated US government agencies and contractors. This deployment allows these organizations to replace outdated intranets with a modern, AI-powered platform that enhances communication and collaboration while ensuring data security. Beezy's solution is fully optimized for mobile and keeps all content and data within the customer's infrastructure, meeting stringent cybersecurity and compliance requirements. This development highlights Microsoft's ability to support advanced, secure digital workplace solutions, potentially increasing its appeal to high-security sectors. The successful integration of Beezy in the GCC High environment could drive further adoption of Microsoft 365 among government and defense contractors, bolstering Microsoft's market position in these sectors. (Sentiment: positive)"", ""Stealth, a Sparton company, has launched the WPC-905, a rugged, fanless, waterproof mini PC designed to meet IP67 environmental specifications, making it highly resistant to liquids, chemicals, dust, and dirt. The WPC-905 features powerful 8th Generation Intel Celeron and Core Processors, solid state drives with optional RAID configurations, and a wide-ranging 9-48VDC power input, suitable for various applications including IoT, industrial, marine, and transportation. It is compatible with Microsoft Windows 10, Server 2019, and Linux, and includes TPM 2.0 for enhanced hardware security. The product is RoHS, CE & FCC, EN50121-3-2, and EN50155 certified, and comes with a standard 2-year warranty, extendable to 3 years. Basic configurations start at $3,195 USD and are now available for shipping. (Sentiment: positive)"", ""Redis Labs has appointed Taimur Rashid as Chief Business Development Officer, leveraging his nearly two decades of experience, including significant roles at Microsoft and Amazon Web Services. Rashid's expertise in cloud hyperscalers and market expansion is expected to drive Redis Labs' growth, particularly in artificial intelligence and cloud-native architectures. His previous role at Microsoft involved leading customer success for Azure Data & AI, indicating strong capabilities in fostering customer adoption and growth. This move could signal increased competition for Microsoft in the cloud and AI sectors, as Redis Labs aims to enhance its market position. Investors in Microsoft should monitor how this leadership change at Redis Labs impacts the competitive landscape in cloud services and AI. (Sentiment: neutral)"", ""Sprinklr's 2021 Customer Care Report, in partnership with Twitter, highlights the increasing importance of robust customer support strategies on Twitter, especially during the global pandemic, which saw a 15% rise in customer care inquiries. The report identifies best practices across 11 industries, with airlines leading in customer care performance. The Sprinklr Care Score, a new metric based on seven indicators, is used to rank brands' customer support quality on Twitter. Microsoft, a client of Sprinklr, can leverage these insights to enhance its customer care strategy on Twitter, potentially boosting customer satisfaction and brand loyalty. This focus on superior customer support could positively impact Microsoft's brand value and customer retention, making it a relevant consideration for investors. (Sentiment: positive)"", ""CloudSphere has appointed Jane Gilson, a former executive at Google and Microsoft, as its new CEO to drive international growth and scale the business amid increasing demand for cloud management and governance solutions. Gilson's extensive experience in scaling multi-billion-dollar divisions and her background in SaaS and cloud customer needs position her well to lead CloudSphere's expansion. Her leadership at Google saw a 66% growth in the emerging market division, and she has managed businesses ranging from $100M to $5B. CloudSphere's strategic partnerships with Microsoft, AWS, and Google Cloud are expected to strengthen under Gilson's leadership, potentially benefiting these tech giants. The company's focus on addressing multicloud governance and security challenges aligns with the growing enterprise adoption of multicloud strategies, a trend that could drive further investment in cloud services. (Sentiment: positive)"", ""Smarty has launched SmartyPlus, a premium subscription service aimed at enhancing online shopping by offering double cashback, free shipping, price protection, and free returns, addressing the increased reliance on online shopping due to the pandemic. Research indicates strong consumer interest, with over 50% of Americans willing to pay for double cashback and significant percentages willing to pay for other benefits like late shipment rebates and guaranteed free returns. The service leverages algorithms to continuously find new benefits and protect online purchases, potentially increasing user satisfaction and retention. Smarty's existing browser extension already supports major retailers like Target, Walmart, and Best Buy, suggesting a robust infrastructure and market presence. This development could influence investment decisions in the e-commerce and tech sectors, including companies like Microsoft, which could benefit from partnerships or integrations with such innovative shopping solutions. (Sentiment: positive)"", ""Veritas Technologies has announced significant updates to its Enterprise Data Services Platform, including the acquisition of HubStor to enhance its enterprise SaaS data protection capabilities. This acquisition leverages Microsoft Azure's global footprint, offering customers improved data sovereignty, replication, and integration with other Azure services. The integration of HubStor's technology into Veritas' platform aims to simplify operations and reduce risks associated with cloud data protection, particularly for SaaS applications like Microsoft 365, Slack, and Box. This move strengthens Veritas' position in the multi-cloud data protection market, which could positively impact Microsoft's cloud services ecosystem. Investors in Microsoft (MSFT) may view this development as a strategic advantage, enhancing the value proposition of Azure and potentially driving increased adoption of Microsoft's cloud services. (Sentiment: positive)"", ""CitiusTech has been named a Leader in Everest Group's Healthcare IT Services Specialists PEAK Matrix Assessment 2021, highlighting its strong focus on digital innovation and healthcare domain expertise. The company's strategic partnerships with major tech players, including Microsoft, IBM, AWS, and GCP, are cited as key strengths. This recognition underscores CitiusTech's ability to drive transformational change across the healthcare value chain, benefiting payers, providers, life sciences, and healthcare technology companies. The acquisition of FluidEdge Consulting has further bolstered its position by enhancing its expertise and presence in the provider and payer segments. For investors in Microsoft, this partnership with a recognized leader in healthcare IT services could signify potential growth opportunities in the healthcare technology sector. (Sentiment: positive)"", ""AV-Comparatives released its 2020 Summary Report for consumer security products, testing 17 programs for protection and performance. Microsoft received a Bronze Award in the Real-World Protection Test, indicating competent protection against internet-borne threats. However, Microsoft did not secure top positions in other categories such as Malware Protection, False-Positives, Performance, or Advanced Threat Protection. Kaspersky was awarded Product of the Year, while Bitdefender and ESET received the Outstanding Security Product Award. Investors should note that while Microsoft’s security product is reliable, it may not be the top choice compared to competitors like Kaspersky, Bitdefender, and ESET. (Sentiment: neutral)"", ""Confluent has announced a strategic alliance with Microsoft, integrating its fully managed Apache Kafka service, Confluent Cloud, directly into the Azure platform. This partnership introduces seamless single sign-on via Azure Active Directory, pre-built connectors, and a unified billing model, simplifying the adoption of real-time event streaming for Azure customers. The integration aims to alleviate the operational complexities of managing Kafka, enabling businesses to build real-time applications more efficiently. This move is expected to enhance Azure's appeal to enterprises seeking scalable, flexible, and agile data streaming solutions. The collaboration underscores Microsoft's commitment to expanding its cloud services ecosystem, potentially driving increased Azure adoption and revenue growth. (Sentiment: positive)"", ""H2O.ai has launched the H2O AI Hybrid Cloud, an end-to-end AI platform that integrates with Microsoft Azure, enabling organizations to build, deploy, and manage AI models across any cloud or on-premises infrastructure. The platform features over 200 data connectors, AutoML capabilities, and machine learning operations technology, which can significantly streamline AI development and deployment processes. H2O AI Hybrid Cloud's integration with Snowflake allows data engineers to build and score AI models using SQL, enhancing productivity and reducing time-to-market for AI solutions. The platform's compatibility with Red Hat OpenShift further supports hybrid and multi-cloud requirements, making it a versatile solution for enterprises. This development positions Microsoft Azure as a key player in the AI and cloud computing space, potentially driving increased adoption and investment in Microsoft's cloud services. (Sentiment: positive)"", ""Tridius Technologies, a Dallas-based technology consulting firm specializing in the Microsoft Stack, has opened a new office in San José, Costa Rica, to leverage the city's technological talent and advantageous time zone. This expansion aims to provide nearshore resources to clients, enhancing their investment returns and IT solutions. The new office will focus on digital transformation, cloud strategy, application development, and managed services, with plans to grow to 15-20 bilingual employees by the end of 2021. Tridius' move to Costa Rica aligns with its long-term strategy to build a world-class nearshore development team, potentially increasing demand for Microsoft technologies. This expansion could positively impact Microsoft's market presence in mid-market sectors such as finance, banking, legal, accounting, healthcare, and entertainment. (Sentiment: positive)"", ""Procede Software, a leading provider of dealer management systems for the heavy-duty truck industry, celebrates its 20th anniversary, attributing its exponential growth to strong customer relationships, partnerships, and a focus on delivering customer value. The company has been a pioneer in technology innovation, utilizing Microsoft SQL Server for unprecedented data access and maintaining a modern user interface. Procede Software's latest advancements include Excede v10.1 and Excede Analytics, and it continues to be a Microsoft Gold Certified Partner, optimizing its software for both on-premise and cloud solutions with Microsoft Azure. The company has received the Best in Biz Award for Enterprise Software Product of the Year for the past two years. Procede Software's commitment to long-term partnerships and customer engagement, along with its robust support and training programs, positions it for continued growth and scalability. (Sentiment: positive)"", ""Arena Analytics has launched the first AI Ethics Advisory Board in the HR technology sector, aiming to address ethical concerns as it deploys advanced AI technologies to reduce bias and optimize workforce management. The board comprises experts from various fields, including HR, academia, technology, and ethics, to provide comprehensive guidance on ethical AI use. Arena's recent advancements in machine learning, particularly in reducing algorithmic bias, position it as a leader in ethical AI application in the labor market. This initiative highlights the growing importance of ethical considerations in AI development, a trend that could influence broader industry practices, including those at major tech firms like Microsoft. Investors should note the increasing emphasis on ethical AI as a potential differentiator and risk mitigator in the technology sector. (Sentiment: positive)"", ""ElectroNeek has appointed Keith Abramson as Global VP of Sales, leveraging his 11 years of experience in early-stage SaaS startups to drive global expansion. Abramson's previous roles in successful companies like Tufin, Darktrace, and Kyriba highlight his capability in executing hypergrowth sales strategies. ElectroNeek, recognized as an RPA Momentum Market Leader by G2, has established significant partnerships with major tech companies, including Microsoft, Oracle, and Nvidia. The company's focus on providing accessible RPA solutions to SMEs positions it well for continued growth in the rapidly expanding RPA sector. This strategic hire and ElectroNeek's strong market position could positively impact its partners, including Microsoft, by driving further adoption and integration of RPA technologies. (Sentiment: positive)"", ""The US Software Defined Data Center (SDDC) market, valued at $14.30 billion in 2019, is projected to reach $50.93 billion by 2027, growing at a CAGR of 17.4%. Key drivers include the rising generation of big data, increased adoption of SDDC in sectors like BFSI, and the shift towards cloud infrastructure due to COVID-19. Microsoft Corporation, as a leading player, is well-positioned to benefit from this growth, given its focus on offering cutting-edge SDDC solutions. The pandemic has accelerated the adoption of remote working and hybrid IT infrastructure, further driving demand for SDDC. Cybersecurity issues remain a potential restraint, but the overall market outlook is positive, with significant opportunities in advanced colocation centers and data center automation. (Sentiment: positive)"", ""Microsoft Corp. announced its fiscal year 2021 second-quarter financial results, which are now available on its Investor Relations website. The company will also host a conference call to discuss these results at 2:30 p.m. Pacific Time, accessible via a live webcast on the same website. Microsoft continues to focus on enabling digital transformation through its intelligent cloud and intelligent edge solutions. Investors can find detailed financial performance metrics and insights by accessing the provided links. This information is crucial for making informed investment decisions regarding Microsoft (Nasdaq: MSFT). (Sentiment: neutral)"" "
Chinese News:
"1月27日，微软公布了2021财年第二财季财报。 根据财报，微软该季度营收为431亿美元，与去年同期的369亿美元相比增长17%，高出此前分析师预期。在按照美国通用会计准则(GAAP)下，微软该季度净利润为155亿美元，与去年同期的116亿美元相比提高33%；在非美国通用会计准则(non-GAAP)下，微软该季度净利润为155亿美元，增长29%。 受财报良好表现，微软股价上涨1.22%收盘价为232.33美元，为一年来最高。 按照部门划分，微软生产力和业务流程部门第四季度营收为134亿美元，与去年同期的118亿美元相比增长13%。 微软第四季度智能云部门的营收为146亿美元，与去年同期的119亿美元相比增长23%。其中，Azure云计算业务营收增长为50%，在连续两个季度增速低于50%之后再次恢复增速，Azure一直是智能云部门营收的最重要驱动力。 微软CFO艾米胡德表示，“对微软差异化产品的需求不断增加，推动商业云计算业务收入达到167亿美元，同比增长34%。我们继续受益于我们在战略性、高增长领域的投资。” 更多个人计算业务营收为151亿美元，与去年同期的132亿美元相比增长14%，其中Xbox内容和服务收入增长了40%。疫情发生后，微软游戏业务一直保持着高增长。在2020年第四财季，Xbox内容和服务收入增长了65%，创下新高。 广告搜索业务营收此前多个季度连续下滑，第一财季营收同比下滑了10%，而在第二财季营收上涨2%，有所恢复。 微软在财报中表示，新冠疫情下确保员工的健康仍然是微软的重点。在2020年10月，微软曾表示将允许部分员工在疫情消退后定期在家办公。微软还表示，如果得到管理人员的批准，一些员工将可以永久远程工作。 此外，在第二财季内微软将旗下搜索引擎Bing改名为Microsoft Bing，作为其重塑品牌举措的一部分。 最近一年，微软除了原有各项业务，在试图拓展新的增长空间，无人驾驶、自研芯片、电竞都是微软计划涉足的领域。 1月20日，微软宣布与通用旗下自动驾驶汽车公司Cruise进行合作，双方将加速无人驾驶汽车的商业化进程。微软同时与其他投资者一起，对Cruise进行了超过20亿美元的投资。 此外，在2020年12月，彭博社报道微软正在为服务器和Surface电脑设计自己的芯片。 同样在2020年12月，电竞平台Smash.gg宣布被微软收购的消息，并表示将继续独立运营。Smash.gg官网显示，目前平台已经支持超过6000个主办方举办赛事。 不过，这项投资的结果还有待观察。2016年微软收购了交互式游戏直播服务 Beam，并改名为Mixer。但微软在2020年6月宣布将关闭Mixer，同时这部分业务收尾与Facebook合作，微软宣布关闭的同时建议游戏玩家和观众“移步”至Facebook的直播网站。"
Japanese News:
"米マイクロソフトは1月26日に、2020年12月末締めの第2四半期決算を公表した。売上は前年同期に比べ17％増加し、市場の予測を上回る好業績となった。新型コロナウイルス感染拡大による世界的なテレワークの普及が追い風となり、クラウド事業が好調を維持したことが要因とみられる。 この発表を受けて、同社株は時間外取引で4％の値上がりを見せた。 同期の総売上高は430億8000万ドルとなり、前年の同じ時期（369億1000万ドル）を約17％上回り、市場アナリストの予測（401億8000万ドル）を超えた。 特に好調だったのは「インテリジェントクラウド」部門で、売上は前年同期比23％増の146億ドルを記録。主力のクラウドサービス「アジュール」は、売上成長率が前四半期の48％から50％へと伸び、市場予想の平均（41.4％）を大きく超える好成績となった。 同社のCFOであるエイミー・フッド氏はロイターの取材に対し、「顧客企業がデジタル化への移行を積極的に進める中、需要が予想を超えるペースで伸びている」と語った。 また、アトランティック・エクイティーズのアナリストであるジェームズ・コードウェル氏は、「昨年はコロナによる景気減速や導入の遅れから、クラウド需要の拡大がアジュールにどれほど寄与するか明らかではなかったが、今回の結果で明確になった」と分析した。 マイクロソフトは法人向けに提供する「オフィス」や「アジュール」などの製品・サービスを「コマーシャルクラウド」として統合的に扱っており、投資家は大型法人顧客への販売動向を測る重要な指標として注視している。この部門の粗利益率は前年同期の67％から71％へ改善した。 パソコン向け基本ソフト「ウィンドウズ」やゲーム機「Xbox」などを含む個人向けコンピューティング部門は、売上が前年同期比14％増の151億ドルとなり、市場予測（135億ドル）を上回った。昨年11月、新型コロナ感染拡大によるゲーム需要を捉えるため、「Xbox Series X」「Xbox Series S」を発売したが、世界的な半導体供給不足により在庫不足となったにもかかわらず、Xboxハードウェアの売上は86％増と大幅に伸びた。 フッド氏は、「供給が需要に追いつかない状況は当面続くと考えている」との見方を示した。 ゲーム関連の収益は四半期として初めて50億ドルを超え、ゲーム機本体だけでなくゲームの定額課金サービスなども好調に推移した結果、Xboxのコンテンツおよびサービスの売上は40％増となった。 さらにビジネス特化型のSNSである「リンクトイン」の売上も前年同期比23％増加した。新型コロナによる経済活動停滞の影響で伸びが鈍化していたものの、広告収入の回復により、コロナ禍前の増収率（24％）に迫る水準まで改善しているとフッド氏は説明した。"
Spanish News:
"Microsoft informó que sus ingresos del trimestre finalizado el 31 de diciembre de 2020 aumentaron 17% en comparación con el trimestre del año fiscal anterior, a 43,100 millones de dólares, según su informe financiero. Antes de la presentación del reporte financiero, las acciones de Microsoft cerraron a 232.33 dólares por acción, registrando un nuevo máximo histórico por primera vez desde septiembre. Las acciones de Microsoft han subido alrededor de un 5% desde principios de 2021. En operaciones tras el cierre del mercado, los títulos avanzan más de 4%. Desarrollar su propia capacidad digital es la nueva moneda que impulsa la resiliencia y el crecimiento de cada organización. Microsoft está impulsando este cambio con la plataforma en la nube más grande y completa del mundo El principal motor de la compañía fue el segmento empresarial Intelligent Cloud de Microsoft, que incluye la nube pública de Azure, productos de servidor como Windows Server, GitHub y servicios empresariales, debido a que los ingresos totalizaron 14,600 millones de dólares. Eso es un 23% más año tras año y por encima del consenso de 13,770 millones de dólares entre los analistas encuestados por FactSet. Los ingresos por productos de servidor y servicios en la nube aumentaron un 26%, impulsados por un crecimiento de los ingresos de Azure del 50%. Los analistas esperaban un crecimiento de alrededor del 42%. La demanda acelerada de nuestras ofertas diferenciadas impulsó los ingresos de la nube comercial a 16,700 mil millones, un 34% más año tras año. Seguimos beneficiándonos de nuestras inversiones en áreas estratégicas de alto crecimiento dijo Amy Hood, vicepresidenta ejecutiva y directora financiera de Microsoft El segmento de computación personal -que contiene Windows, juegos, dispositivos y publicidad de búsqueda- generó 15,120 millones de dólares en ingresos, los cuales aumentaron 14% y superaron la estimación de consenso de FactSet de 13,470 millones de dólares. Los ingresos por contenido y servicios de Xbox aumentaron 40%. La empresa lanzó, durante el trimestre, las consolas Xbox Series X y Series S. Microsoft devolvió 10,000 millones de dólares a los accionistas en forma de recompra de acciones y dividendos en el segundo trimestre del año fiscal 2021, un aumento del 18% en comparación con el segundo trimestre del año fiscal 2020."
Greek News:
"Την σημερινή ημέρα, όλο και περισσότερη ανθρώπινη δραστηριότητα είναι μέσω του διαδικτύου, πράγμα που κάνει τη κυβερνοασφάλεια ιδιαίτερα σημαντική. Έτσι, η Microsoft συνεχίζει την στρατηγική ενδυνάμωσης της στον τομέα της κυβερνοασφάλειας, με τις δραστηριότητες τις στην ασφάλεια να ξεπερνούν τα 10 δισεκατομμύρια δολάρια σε ετήσια έσοδα. Αυτή η αύξηση, αντιστοιχεί σε αύξηση παραπάνω από 40% συγκριτικά με το προηγούμενο έτος. Αυτή η αύξηση αποδίδεται στην αυξημένη υιοθέτηση λογισμικού όπως το Azure Sentinel και το Microsoft Defender. Ως αποτέλεσμα αυτής της στρατηγικής, καθημερινά τα συστήματα αυτά μπλοκάρουν δισεκατομμύρια κυβερνοαπειλές, ενώ παραπάνω από 425 εκατομμύρια χρήστες υποστηρίζονται μέσω της πλατφόρμας Azure Active Directory. Μια παράλληλη εξέλιξη είναι οι επενδύσεις στην ελληνική οικονομία. Πρόσφατα, ανακοινώθηκε επένδυση 500 εκατομμυρίων ευρώ για τη δημιουργία τριών Data Centers στην Αττική, με προοπτική λειτουργίας έως το 2025. Η επένδυση αυτή στοχεύει στη μετατροπή της Ελλάδας σε περιφερειακό κόμβο ψηφιακών υπηρεσιών αλλά και την εκπαίδευση 100.000 πολιτών σε διάφορες ψηφιακές δεξιότητες. Η πρωτοβουλία αυτή εντάσσεται στο ευρύτερο πλαίσιο του ψηφιακού μετασχηματισμού της ελληνικής οικονομίας που παρατηρείται τα τελευταία χρόνια. Εκτιμήσεις προβλέπουν ότι ο τεχνολογικός τομέας θα αγγίξει την συνεισφορά 10% στο κρατικό ΑΕΠ την επόμενη δεκαετία, σε σύγκριση με το περίπου 3% σήμερα. Οι αναμενόμενες επιδράσεις περιλαμβάνουν την ενίσχυση της παραγωγικότητας, την προσέλκυση επενδύσεων και τη δημιουργία νέων θέσεων εργασίας στον τομέα της τεχνολογίας."
Question:
Please list the top three focuses on revenue from news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | Please list the top three focuses on revenue from news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: Microsoft returned $10B to shareholders via dividends and share repurchases in Q2 FY2021.
Financial Statement Evidence: Microsoft allocated capital in Q2 FY2021 through $6.5B in share repurchases, $4.2B in dividends, and $4.2B in property and equipment investments. |
MSFT_20210126 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 |
|:-------------------------------------------------------------------------------------|:-----------|:-----------------|:-----------|:-----------|:-------------|:-----------|:-----------|:-----------|
| (In millions) (Unaudited) | | | | | | | | |
| | | | | | | | | |
| | | | | | | | | |
| | | December 31,2020 | | | June 30,2020 | | | |
| | | | | | | | | |
| Assets | | | | | | | | |
| Current assets: | | | | | | | | |
| Cash and cash equivalents | | $ | 14,432 | | | $ | 13,576 | |
| Short-term investments | | | 117,536 | | | | 122,951 | |
| | | | | | | | | |
| | | | | | | | | |
| Total cash, cash equivalents, and short-term investments | | | 131,968 | | | | 136,527 | |
| Accounts receivable, net of allowance for doubtful accounts of$642and $788 | | | 27,312 | | | | 32,011 | |
| Inventories | | | 1,924 | | | | 1,895 | |
| Other current assets | | | 12,769 | | | | 11,482 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current assets | | | 173,973 | | | | 181,915 | |
| Property and equipment, net of accumulated depreciation of$47,715and $43,197 | | | 51,737 | | | | 44,151 | |
| Operating lease right-of-use assets | | | 10,298 | | | | 8,753 | |
| Equity investments | | | 3,794 | | | | 2,965 | |
| Goodwill | | | 44,219 | | | | 43,351 | |
| Intangible assets, net | | | 6,555 | | | | 7,038 | |
| Other long-term assets | | | 13,561 | | | | 13,138 | |
| | | | | | | | | |
| | | | | | | | | |
| Total assets | | $ | 304,137 | | | $ | 301,311 | |
| | | | | | | | | |
| | | | | | | | | |
| Liabilities and stockholders’ equity | | | | | | | | |
| Current liabilities: | | | | | | | | |
| Accounts payable | | $ | 12,770 | | | $ | 12,530 | |
| Current portion of long-term debt | | | 5,387 | | | | 3,749 | |
| Accrued compensation | | | 6,838 | | | | 7,874 | |
| Short-term income taxes | | | 1,562 | | | | 2,130 | |
| Short-term unearned revenue | | | 30,402 | | | | 36,000 | |
| Other current liabilities | | | 10,527 | | | | 10,027 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current liabilities | | | 67,486 | | | | 72,310 | |
| Long-term debt | | | 55,136 | | | | 59,578 | |
| Long-term income taxes | | | 26,701 | | | | 29,432 | |
| Long-term unearned revenue | | | 2,985 | | | | 3,180 | |
| Deferred income taxes | | | 174 | | | | 204 | |
| Operating lease liabilities | | | 8,875 | | | | 7,671 | |
| Other long-term liabilities | | | 12,544 | | | | 10,632 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities | | | 173,901 | | | | 183,007 | |
| | | | | | | | | |
| | | | | | | | | |
| Commitments and contingencies | | | | | | | | |
| Stockholders’ equity: | | | | | | | | |
| Common stock and paid-in capital – shares authorized24,000; outstanding7,546and7,571 | | | 81,896 | | | | 80,552 | |
| Retained earnings | | | 44,973 | | | | 34,566 | |
| Accumulated other comprehensive income | | | 3,367 | | | | 3,186 | |
| | | | | | | | | |
| | | | | | | | | |
| Total stockholders’ equity | | | 130,236 | | | | 118,304 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities and stockholders’ equity | | $ | 304,137 | | | $ | 301,311 | |
| | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 |
|:---------------------------------------------------------------------------------------------|:-----------|:-------------------------------|:-----------|:-----------|:-----------|:-----------------------------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| (In millions) (Unaudited) | | Three Months EndedDecember 31, | | | | Six Months EndedDecember 31, | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | 2020 | | | 2019 | | | | 2020 | | | | 2019 | | | |
| | | | | | | | | | | | | | | | | |
| Operations | | | | | | | | | | | | | | | | |
| Net income | | $ | 15,463 | | | $ | 11,649 | | | $ | 29,356 | | | $ | 22,327 | |
| Adjustments to reconcile net income to net cash from operations: | | | | | | | | | | | | | | | | |
| Depreciation, amortization, and other | | | 2,761 | | | | 3,203 | | | | 5,406 | | | | 6,174 | |
| Stock-based compensation expense | | | 1,566 | | | | 1,340 | | | | 3,022 | | | | 2,602 | |
| Net recognized gains on investments and derivatives | | | (354 | ) | | | (203 | ) | | | (482 | ) | | | (192 | ) |
| Deferred income taxes | | | (17 | ) | | | (53 | ) | | | (28 | ) | | | (230 | ) |
| Changes in operating assets and liabilities: | | | | | | | | | | | | | | | | |
| Accounts receivable | | | (4,008 | ) | | | (4,203 | ) | | | 4,835 | | | | 5,887 | |
| Inventories | | | 788 | | | | 799 | | | | (20 | ) | | | 238 | |
| Other current assets | | | 730 | | | | 165 | | | | 676 | | | | (273 | ) |
| Other long-term assets | | | (1,499 | ) | | | (517 | ) | | | (1,561 | ) | | | (850 | ) |
| Accounts payable | | | 33 | | | | (7 | ) | | | 348 | | | | (554 | ) |
| Unearned revenue | | | (3,227 | ) | | | (2,936 | ) | | | (6,291 | ) | | | (5,828 | ) |
| Income taxes | | | (2,368 | ) | | | (471 | ) | | | (3,351 | ) | | | (3,807 | ) |
| Other current liabilities | | | 1,755 | | | | 1,489 | | | | (1,196 | ) | | | (1,831 | ) |
| Other long-term liabilities | | | 893 | | | | 425 | | | | 1,137 | | | | 835 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net cash from operations | | | 12,516 | | | | 10,680 | | | | 31,851 | | | | 24,498 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Financing | | | | | | | | | | | | | | | | |
| Repayments of debt | | | (3,250 | ) | | | (18 | ) | | | (3,250 | ) | | | (2,518 | ) |
| Common stock issued | | | 302 | | | | 234 | | | | 847 | | | | 661 | |
| Common stock repurchased | | | (6,535 | ) | | | (5,206 | ) | | | (13,278 | ) | | | (10,118 | ) |
| Common stock cash dividends paid | | | (4,230 | ) | | | (3,886 | ) | | | (8,086 | ) | | | (7,396 | ) |
| Other, net | | | 79 | | | | (39 | ) | | | (156 | ) | | | 247 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net cash used in financing | | | (13,634 | ) | | | (8,915 | ) | | | (23,923 | ) | | | (19,124 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Investing | | | | | | | | | | | | | | | | |
| Additions to property and equipment | | | (4,174 | ) | | | (3,545 | ) | | | (9,081 | ) | | | (6,930 | ) |
| Acquisition of companies, net of cash acquired, and purchases of intangible and other assets | | | (415 | ) | | | (80 | ) | | | (896 | ) | | | (542 | ) |
| Purchases of investments | | | (15,092 | ) | | | (19,011 | ) | | | (29,672 | ) | | | (42,401 | ) |
| Maturities of investments | | | 15,264 | | | | 11,230 | | | | 29,530 | | | | 30,312 | |
| Sales of investments | | | 2,421 | | | | 5,370 | | | | 4,835 | | | | 11,749 | |
| Other, net | | | 327 | | | | 0 | | | | (1,756 | ) | | | 0 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net cash used in investing | | | (1,669 | ) | | | (6,036 | ) | | | (7,040 | ) | | | (7,812 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Effect of foreign exchange rates on cash and cash equivalents | | | 14 | | | | 18 | | | | (32 | ) | | | (54 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net change in cash and cash equivalents | | | (2,773 | ) | | | (4,253 | ) | | | 856 | | | | (2,492 | ) |
| Cash and cash equivalents, beginning of period | | | 17,205 | | | | 13,117 | | | | 13,576 | | | | 11,356 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Cash and cash equivalents, end of period | | $ | 14,432 | | | $ | 8,864 | | | $ | 14,432 | | | $ | 8,864 | |
| | | | | | | | | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 |
|:----------------------------------------------------|:-----------|:-----------|:-------------------------------|:-----------|:-----------|:-----------|:-----------------------------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| (In millions, except per share amounts) (Unaudited) | | | Three Months EndedDecember 31, | | | | Six Months EndedDecember 31, | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | | 2020 | | | | 2019 | | | | 2020 | | | | 2019 | |
| | | | | | | | | | | | | | | | | |
| Revenue: | | | | | | | | | | | | | | | | |
| Product | | $ | 19,460 | | | $ | 18,255 | | | $ | 35,263 | | | $ | 34,023 | |
| Service and other | | | 23,616 | | | | 18,651 | | | | 44,967 | | | | 35,938 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Total revenue | | | 43,076 | | | | 36,906 | | | | 80,230 | | | | 69,961 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Cost of revenue: | | | | | | | | | | | | | | | | |
| Product | | | 6,058 | | | | 4,966 | | | | 9,655 | | | | 8,271 | |
| Service and other | | | 8,136 | | | | 7,392 | | | | 15,541 | | | | 14,493 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Total cost of revenue | | | 14,194 | | | | 12,358 | | | | 25,196 | | | | 22,764 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Gross margin | | | 28,882 | | | | 24,548 | | | | 55,034 | | | | 47,197 | |
| Research and development | | | 4,899 | | | | 4,603 | | | | 9,825 | | | | 9,168 | |
| Sales and marketing | | | 4,947 | | | | 4,933 | | | | 9,178 | | | | 9,270 | |
| General and administrative | | | 1,139 | | | | 1,121 | | | | 2,258 | | | | 2,182 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Operating income | | | 17,897 | | | | 13,891 | | | | 33,773 | | | | 26,577 | |
| Other income, net | | | 440 | | | | 194 | | | | 688 | | | | 194 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Income before income taxes | | | 18,337 | | | | 14,085 | | | | 34,461 | | | | 26,771 | |
| Provision for income taxes | | | 2,874 | | | | 2,436 | | | | 5,105 | | | | 4,444 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net income | | $ | 15,463 | | | $ | 11,649 | | | $ | 29,356 | | | $ | 22,327 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Earnings per share: | | | | | | | | | | | | | | | | |
| Basic | | $ | 2.05 | | | $ | 1.53 | | | $ | 3.88 | | | $ | 2.93 | |
| Diluted | | $ | 2.03 | | | $ | 1.51 | | | $ | 3.85 | | | $ | 2.90 | |
| | | | | | | | | | | | | | | | | |
| Weighted average shares outstanding: | | | | | | | | | | | | | | | | |
| Basic | | | 7,555 | | | | 7,621 | | | | 7,561 | | | | 7,628 | |
| Diluted | | | 7,616 | | | | 7,691 | | | | 7,627 | | | | 7,701 | |
| | | | | | | | | | | | | | | | | |
---
English News:
"""Medable Inc. has appointed Parag Vaish as Chief Product Officer, leveraging his extensive experience in product innovation from roles at Tesla, Epocrates, and StubHub. Vaish's expertise in creating intuitive and frictionless user experiences aligns with Medable's mission to transform the clinical trial process for patients and clinicians. Medable has demonstrated significant growth, with a 400% revenue increase in 2020 and $118 million in new funding, driven by the launch of five new products and the acquisition of 50 new clients. The company's digital platform aims to streamline decentralized clinical trials, enhancing patient access and retention while accelerating trial execution. This strategic hire and Medable's robust growth trajectory suggest a strong potential for continued innovation and market expansion in the healthcare technology sector. (Sentiment: positive)"", ""The Ireland Data Center Market is projected to grow at a CAGR of 6.7% from 2020 to 2025, driven by increased hyperscale investments and the implementation of GDPR, which has boosted data traffic. Dublin has become a cloud computing hub with major players like Microsoft, Google, AWS, and IBM, and connectivity to cloud service providers is crucial for colocation providers. Microsoft has expanded its data center campus by acquiring 20 acres in Grange Castle, indicating significant investment in the region. The market is moderately competitive, with key players adopting strategies like partnerships and mergers to enhance their market positions. The COVID-19 pandemic has had a moderate impact on construction projects, but future projects may face more significant challenges. (Sentiment: positive)"", ""Attabotics and FoodX Technologies have partnered to offer a comprehensive micro-fulfillment solution for the grocery e-commerce market, leveraging Microsoft's Azure platform. This joint solution aims to provide significant cost savings, increased delivery speed, and improved unit economics for retailers by combining Attabotics' 3D robotics system with FoodX's eGrocery software. The use of Microsoft Azure Private Edge Zones, Azure Stack Edge, and Azure Sphere will enhance the digital supply chain with advanced data and AI capabilities. This partnership is expected to capitalize on the growing e-commerce market, particularly in the wake of the COVID-19 pandemic, by enabling more efficient and sustainable fulfillment operations. The collaboration underscores Microsoft's strategic role in transforming supply chain logistics and could drive further adoption of Azure services in the retail sector. (Sentiment: positive)"", ""Illusive has launched an automated detection and response partner ecosystem program, integrating with Microsoft Azure Sentinel and Azure Active Directory to enhance cybersecurity measures. This collaboration aims to fill the market gap in automated threat detection by continuously identifying and removing risky credentials, thus preventing lateral movement by attackers. Illusive's integration with Azure Sentinel provides custom dashboards for immediate action on threats, while Azure Active Directory benefits from continuous credential hygiene. The partnership with Microsoft enhances the security stack, offering comprehensive protection against emerging threats. This development could strengthen Microsoft's position in the cybersecurity market, potentially making it a more attractive investment. (Sentiment: positive)"", ""Mobilize.Net has partnered with Infragistics to develop automated migration tools for Silverlight, facilitating the transition to Angular and HTML, which could benefit Microsoft's ecosystem by reducing technical debt and modernizing legacy applications. The release of a free migration assessment tool for Silverlight by Mobilize.Net provides detailed inventories and modernization insights, potentially increasing the adoption of Microsoft's cloud and web platforms. Mobilize.Net's technology, already favored by Snowflake and Microsoft customers, underscores its reliability and effectiveness in large-scale code modernization. This partnership aligns with Microsoft's strategic focus on cloud and web services, potentially driving further growth and customer retention. The collaboration highlights the ongoing demand for tools that enhance developer productivity and modernize legacy systems, which could positively impact Microsoft's market position. (Sentiment: positive)"", ""SAS is launching a series of global hackathons, starting with the #HackinSAS event in March, to foster innovation using advanced analytics, AI, and cloud technologies. These hackathons will leverage the SAS Viya analytics platform running on Microsoft Azure, highlighting a strategic partnership between SAS and Microsoft. Participants, including SAS customers, technology partners, independent developers, students, and startups, will collaborate to solve significant business and humanitarian challenges. The initiative aims to create viable applications and products that SAS will help develop and commercialize, potentially driving demand for Microsoft's Azure services. This collaboration underscores Microsoft's commitment to supporting innovative solutions and expanding its cloud platform's reach. (Sentiment: positive)"", ""The global automotive cloud market is projected to grow significantly by 2025, driven by increasing connected vehicles, demand for IoT and 5G communication, and changing consumer preferences towards advanced vehicle applications. The infotainment segment is expected to dominate the market, with passenger vehicles leading in terms of value. Key players in the market include Microsoft, Amazon Web Services, and other major tech and automotive companies. The report highlights emerging opportunities such as the integration of blockchain and the rise of autonomous and ride-sharing services. Microsoft's involvement in the automotive cloud market positions it well to capitalize on these growth trends and technological advancements. (Sentiment: positive)"", ""Beezy Inc. has successfully deployed its digital workplace solution in Microsoft's Government Community Cloud (GCC) High environment, catering to highly regulated US government agencies and contractors. This deployment allows these organizations to replace outdated intranets with a modern, AI-powered platform that enhances communication and collaboration while ensuring data security. Beezy's solution is fully optimized for mobile and keeps all content and data within the customer's infrastructure, meeting stringent cybersecurity and compliance requirements. This development highlights Microsoft's ability to support advanced, secure digital workplace solutions, potentially increasing its appeal to high-security sectors. The successful integration of Beezy in the GCC High environment could drive further adoption of Microsoft 365 among government and defense contractors, bolstering Microsoft's market position in these sectors. (Sentiment: positive)"", ""Stealth, a Sparton company, has launched the WPC-905, a rugged, fanless, waterproof mini PC designed to meet IP67 environmental specifications, making it highly resistant to liquids, chemicals, dust, and dirt. The WPC-905 features powerful 8th Generation Intel Celeron and Core Processors, solid state drives with optional RAID configurations, and a wide-ranging 9-48VDC power input, suitable for various applications including IoT, industrial, marine, and transportation. It is compatible with Microsoft Windows 10, Server 2019, and Linux, and includes TPM 2.0 for enhanced hardware security. The product is RoHS, CE & FCC, EN50121-3-2, and EN50155 certified, and comes with a standard 2-year warranty, extendable to 3 years. Basic configurations start at $3,195 USD and are now available for shipping. (Sentiment: positive)"", ""Redis Labs has appointed Taimur Rashid as Chief Business Development Officer, leveraging his nearly two decades of experience, including significant roles at Microsoft and Amazon Web Services. Rashid's expertise in cloud hyperscalers and market expansion is expected to drive Redis Labs' growth, particularly in artificial intelligence and cloud-native architectures. His previous role at Microsoft involved leading customer success for Azure Data & AI, indicating strong capabilities in fostering customer adoption and growth. This move could signal increased competition for Microsoft in the cloud and AI sectors, as Redis Labs aims to enhance its market position. Investors in Microsoft should monitor how this leadership change at Redis Labs impacts the competitive landscape in cloud services and AI. (Sentiment: neutral)"", ""Sprinklr's 2021 Customer Care Report, in partnership with Twitter, highlights the increasing importance of robust customer support strategies on Twitter, especially during the global pandemic, which saw a 15% rise in customer care inquiries. The report identifies best practices across 11 industries, with airlines leading in customer care performance. The Sprinklr Care Score, a new metric based on seven indicators, is used to rank brands' customer support quality on Twitter. Microsoft, a client of Sprinklr, can leverage these insights to enhance its customer care strategy on Twitter, potentially boosting customer satisfaction and brand loyalty. This focus on superior customer support could positively impact Microsoft's brand value and customer retention, making it a relevant consideration for investors. (Sentiment: positive)"", ""CloudSphere has appointed Jane Gilson, a former executive at Google and Microsoft, as its new CEO to drive international growth and scale the business amid increasing demand for cloud management and governance solutions. Gilson's extensive experience in scaling multi-billion-dollar divisions and her background in SaaS and cloud customer needs position her well to lead CloudSphere's expansion. Her leadership at Google saw a 66% growth in the emerging market division, and she has managed businesses ranging from $100M to $5B. CloudSphere's strategic partnerships with Microsoft, AWS, and Google Cloud are expected to strengthen under Gilson's leadership, potentially benefiting these tech giants. The company's focus on addressing multicloud governance and security challenges aligns with the growing enterprise adoption of multicloud strategies, a trend that could drive further investment in cloud services. (Sentiment: positive)"", ""Smarty has launched SmartyPlus, a premium subscription service aimed at enhancing online shopping by offering double cashback, free shipping, price protection, and free returns, addressing the increased reliance on online shopping due to the pandemic. Research indicates strong consumer interest, with over 50% of Americans willing to pay for double cashback and significant percentages willing to pay for other benefits like late shipment rebates and guaranteed free returns. The service leverages algorithms to continuously find new benefits and protect online purchases, potentially increasing user satisfaction and retention. Smarty's existing browser extension already supports major retailers like Target, Walmart, and Best Buy, suggesting a robust infrastructure and market presence. This development could influence investment decisions in the e-commerce and tech sectors, including companies like Microsoft, which could benefit from partnerships or integrations with such innovative shopping solutions. (Sentiment: positive)"", ""Veritas Technologies has announced significant updates to its Enterprise Data Services Platform, including the acquisition of HubStor to enhance its enterprise SaaS data protection capabilities. This acquisition leverages Microsoft Azure's global footprint, offering customers improved data sovereignty, replication, and integration with other Azure services. The integration of HubStor's technology into Veritas' platform aims to simplify operations and reduce risks associated with cloud data protection, particularly for SaaS applications like Microsoft 365, Slack, and Box. This move strengthens Veritas' position in the multi-cloud data protection market, which could positively impact Microsoft's cloud services ecosystem. Investors in Microsoft (MSFT) may view this development as a strategic advantage, enhancing the value proposition of Azure and potentially driving increased adoption of Microsoft's cloud services. (Sentiment: positive)"", ""CitiusTech has been named a Leader in Everest Group's Healthcare IT Services Specialists PEAK Matrix Assessment 2021, highlighting its strong focus on digital innovation and healthcare domain expertise. The company's strategic partnerships with major tech players, including Microsoft, IBM, AWS, and GCP, are cited as key strengths. This recognition underscores CitiusTech's ability to drive transformational change across the healthcare value chain, benefiting payers, providers, life sciences, and healthcare technology companies. The acquisition of FluidEdge Consulting has further bolstered its position by enhancing its expertise and presence in the provider and payer segments. For investors in Microsoft, this partnership with a recognized leader in healthcare IT services could signify potential growth opportunities in the healthcare technology sector. (Sentiment: positive)"", ""AV-Comparatives released its 2020 Summary Report for consumer security products, testing 17 programs for protection and performance. Microsoft received a Bronze Award in the Real-World Protection Test, indicating competent protection against internet-borne threats. However, Microsoft did not secure top positions in other categories such as Malware Protection, False-Positives, Performance, or Advanced Threat Protection. Kaspersky was awarded Product of the Year, while Bitdefender and ESET received the Outstanding Security Product Award. Investors should note that while Microsoft’s security product is reliable, it may not be the top choice compared to competitors like Kaspersky, Bitdefender, and ESET. (Sentiment: neutral)"", ""Confluent has announced a strategic alliance with Microsoft, integrating its fully managed Apache Kafka service, Confluent Cloud, directly into the Azure platform. This partnership introduces seamless single sign-on via Azure Active Directory, pre-built connectors, and a unified billing model, simplifying the adoption of real-time event streaming for Azure customers. The integration aims to alleviate the operational complexities of managing Kafka, enabling businesses to build real-time applications more efficiently. This move is expected to enhance Azure's appeal to enterprises seeking scalable, flexible, and agile data streaming solutions. The collaboration underscores Microsoft's commitment to expanding its cloud services ecosystem, potentially driving increased Azure adoption and revenue growth. (Sentiment: positive)"", ""H2O.ai has launched the H2O AI Hybrid Cloud, an end-to-end AI platform that integrates with Microsoft Azure, enabling organizations to build, deploy, and manage AI models across any cloud or on-premises infrastructure. The platform features over 200 data connectors, AutoML capabilities, and machine learning operations technology, which can significantly streamline AI development and deployment processes. H2O AI Hybrid Cloud's integration with Snowflake allows data engineers to build and score AI models using SQL, enhancing productivity and reducing time-to-market for AI solutions. The platform's compatibility with Red Hat OpenShift further supports hybrid and multi-cloud requirements, making it a versatile solution for enterprises. This development positions Microsoft Azure as a key player in the AI and cloud computing space, potentially driving increased adoption and investment in Microsoft's cloud services. (Sentiment: positive)"", ""Tridius Technologies, a Dallas-based technology consulting firm specializing in the Microsoft Stack, has opened a new office in San José, Costa Rica, to leverage the city's technological talent and advantageous time zone. This expansion aims to provide nearshore resources to clients, enhancing their investment returns and IT solutions. The new office will focus on digital transformation, cloud strategy, application development, and managed services, with plans to grow to 15-20 bilingual employees by the end of 2021. Tridius' move to Costa Rica aligns with its long-term strategy to build a world-class nearshore development team, potentially increasing demand for Microsoft technologies. This expansion could positively impact Microsoft's market presence in mid-market sectors such as finance, banking, legal, accounting, healthcare, and entertainment. (Sentiment: positive)"", ""Procede Software, a leading provider of dealer management systems for the heavy-duty truck industry, celebrates its 20th anniversary, attributing its exponential growth to strong customer relationships, partnerships, and a focus on delivering customer value. The company has been a pioneer in technology innovation, utilizing Microsoft SQL Server for unprecedented data access and maintaining a modern user interface. Procede Software's latest advancements include Excede v10.1 and Excede Analytics, and it continues to be a Microsoft Gold Certified Partner, optimizing its software for both on-premise and cloud solutions with Microsoft Azure. The company has received the Best in Biz Award for Enterprise Software Product of the Year for the past two years. Procede Software's commitment to long-term partnerships and customer engagement, along with its robust support and training programs, positions it for continued growth and scalability. (Sentiment: positive)"", ""Arena Analytics has launched the first AI Ethics Advisory Board in the HR technology sector, aiming to address ethical concerns as it deploys advanced AI technologies to reduce bias and optimize workforce management. The board comprises experts from various fields, including HR, academia, technology, and ethics, to provide comprehensive guidance on ethical AI use. Arena's recent advancements in machine learning, particularly in reducing algorithmic bias, position it as a leader in ethical AI application in the labor market. This initiative highlights the growing importance of ethical considerations in AI development, a trend that could influence broader industry practices, including those at major tech firms like Microsoft. Investors should note the increasing emphasis on ethical AI as a potential differentiator and risk mitigator in the technology sector. (Sentiment: positive)"", ""ElectroNeek has appointed Keith Abramson as Global VP of Sales, leveraging his 11 years of experience in early-stage SaaS startups to drive global expansion. Abramson's previous roles in successful companies like Tufin, Darktrace, and Kyriba highlight his capability in executing hypergrowth sales strategies. ElectroNeek, recognized as an RPA Momentum Market Leader by G2, has established significant partnerships with major tech companies, including Microsoft, Oracle, and Nvidia. The company's focus on providing accessible RPA solutions to SMEs positions it well for continued growth in the rapidly expanding RPA sector. This strategic hire and ElectroNeek's strong market position could positively impact its partners, including Microsoft, by driving further adoption and integration of RPA technologies. (Sentiment: positive)"", ""The US Software Defined Data Center (SDDC) market, valued at $14.30 billion in 2019, is projected to reach $50.93 billion by 2027, growing at a CAGR of 17.4%. Key drivers include the rising generation of big data, increased adoption of SDDC in sectors like BFSI, and the shift towards cloud infrastructure due to COVID-19. Microsoft Corporation, as a leading player, is well-positioned to benefit from this growth, given its focus on offering cutting-edge SDDC solutions. The pandemic has accelerated the adoption of remote working and hybrid IT infrastructure, further driving demand for SDDC. Cybersecurity issues remain a potential restraint, but the overall market outlook is positive, with significant opportunities in advanced colocation centers and data center automation. (Sentiment: positive)"", ""Microsoft Corp. announced its fiscal year 2021 second-quarter financial results, which are now available on its Investor Relations website. The company will also host a conference call to discuss these results at 2:30 p.m. Pacific Time, accessible via a live webcast on the same website. Microsoft continues to focus on enabling digital transformation through its intelligent cloud and intelligent edge solutions. Investors can find detailed financial performance metrics and insights by accessing the provided links. This information is crucial for making informed investment decisions regarding Microsoft (Nasdaq: MSFT). (Sentiment: neutral)"" "
Chinese News:
"1月27日，微软公布了2021财年第二财季财报。 根据财报，微软该季度营收为431亿美元，与去年同期的369亿美元相比增长17%，高出此前分析师预期。在按照美国通用会计准则(GAAP)下，微软该季度净利润为155亿美元，与去年同期的116亿美元相比提高33%；在非美国通用会计准则(non-GAAP)下，微软该季度净利润为155亿美元，增长29%。 受财报良好表现，微软股价上涨1.22%收盘价为232.33美元，为一年来最高。 按照部门划分，微软生产力和业务流程部门第四季度营收为134亿美元，与去年同期的118亿美元相比增长13%。 微软第四季度智能云部门的营收为146亿美元，与去年同期的119亿美元相比增长23%。其中，Azure云计算业务营收增长为50%，在连续两个季度增速低于50%之后再次恢复增速，Azure一直是智能云部门营收的最重要驱动力。 微软CFO艾米胡德表示，“对微软差异化产品的需求不断增加，推动商业云计算业务收入达到167亿美元，同比增长34%。我们继续受益于我们在战略性、高增长领域的投资。” 更多个人计算业务营收为151亿美元，与去年同期的132亿美元相比增长14%，其中Xbox内容和服务收入增长了40%。疫情发生后，微软游戏业务一直保持着高增长。在2020年第四财季，Xbox内容和服务收入增长了65%，创下新高。 广告搜索业务营收此前多个季度连续下滑，第一财季营收同比下滑了10%，而在第二财季营收上涨2%，有所恢复。 微软在财报中表示，新冠疫情下确保员工的健康仍然是微软的重点。在2020年10月，微软曾表示将允许部分员工在疫情消退后定期在家办公。微软还表示，如果得到管理人员的批准，一些员工将可以永久远程工作。 此外，在第二财季内微软将旗下搜索引擎Bing改名为Microsoft Bing，作为其重塑品牌举措的一部分。 最近一年，微软除了原有各项业务，在试图拓展新的增长空间，无人驾驶、自研芯片、电竞都是微软计划涉足的领域。 1月20日，微软宣布与通用旗下自动驾驶汽车公司Cruise进行合作，双方将加速无人驾驶汽车的商业化进程。微软同时与其他投资者一起，对Cruise进行了超过20亿美元的投资。 此外，在2020年12月，彭博社报道微软正在为服务器和Surface电脑设计自己的芯片。 同样在2020年12月，电竞平台Smash.gg宣布被微软收购的消息，并表示将继续独立运营。Smash.gg官网显示，目前平台已经支持超过6000个主办方举办赛事。 不过，这项投资的结果还有待观察。2016年微软收购了交互式游戏直播服务 Beam，并改名为Mixer。但微软在2020年6月宣布将关闭Mixer，同时这部分业务收尾与Facebook合作，微软宣布关闭的同时建议游戏玩家和观众“移步”至Facebook的直播网站。"
Japanese News:
"米マイクロソフトは1月26日に、2020年12月末締めの第2四半期決算を公表した。売上は前年同期に比べ17％増加し、市場の予測を上回る好業績となった。新型コロナウイルス感染拡大による世界的なテレワークの普及が追い風となり、クラウド事業が好調を維持したことが要因とみられる。 この発表を受けて、同社株は時間外取引で4％の値上がりを見せた。 同期の総売上高は430億8000万ドルとなり、前年の同じ時期（369億1000万ドル）を約17％上回り、市場アナリストの予測（401億8000万ドル）を超えた。 特に好調だったのは「インテリジェントクラウド」部門で、売上は前年同期比23％増の146億ドルを記録。主力のクラウドサービス「アジュール」は、売上成長率が前四半期の48％から50％へと伸び、市場予想の平均（41.4％）を大きく超える好成績となった。 同社のCFOであるエイミー・フッド氏はロイターの取材に対し、「顧客企業がデジタル化への移行を積極的に進める中、需要が予想を超えるペースで伸びている」と語った。 また、アトランティック・エクイティーズのアナリストであるジェームズ・コードウェル氏は、「昨年はコロナによる景気減速や導入の遅れから、クラウド需要の拡大がアジュールにどれほど寄与するか明らかではなかったが、今回の結果で明確になった」と分析した。 マイクロソフトは法人向けに提供する「オフィス」や「アジュール」などの製品・サービスを「コマーシャルクラウド」として統合的に扱っており、投資家は大型法人顧客への販売動向を測る重要な指標として注視している。この部門の粗利益率は前年同期の67％から71％へ改善した。 パソコン向け基本ソフト「ウィンドウズ」やゲーム機「Xbox」などを含む個人向けコンピューティング部門は、売上が前年同期比14％増の151億ドルとなり、市場予測（135億ドル）を上回った。昨年11月、新型コロナ感染拡大によるゲーム需要を捉えるため、「Xbox Series X」「Xbox Series S」を発売したが、世界的な半導体供給不足により在庫不足となったにもかかわらず、Xboxハードウェアの売上は86％増と大幅に伸びた。 フッド氏は、「供給が需要に追いつかない状況は当面続くと考えている」との見方を示した。 ゲーム関連の収益は四半期として初めて50億ドルを超え、ゲーム機本体だけでなくゲームの定額課金サービスなども好調に推移した結果、Xboxのコンテンツおよびサービスの売上は40％増となった。 さらにビジネス特化型のSNSである「リンクトイン」の売上も前年同期比23％増加した。新型コロナによる経済活動停滞の影響で伸びが鈍化していたものの、広告収入の回復により、コロナ禍前の増収率（24％）に迫る水準まで改善しているとフッド氏は説明した。"
Spanish News:
"Microsoft informó que sus ingresos del trimestre finalizado el 31 de diciembre de 2020 aumentaron 17% en comparación con el trimestre del año fiscal anterior, a 43,100 millones de dólares, según su informe financiero. Antes de la presentación del reporte financiero, las acciones de Microsoft cerraron a 232.33 dólares por acción, registrando un nuevo máximo histórico por primera vez desde septiembre. Las acciones de Microsoft han subido alrededor de un 5% desde principios de 2021. En operaciones tras el cierre del mercado, los títulos avanzan más de 4%. Desarrollar su propia capacidad digital es la nueva moneda que impulsa la resiliencia y el crecimiento de cada organización. Microsoft está impulsando este cambio con la plataforma en la nube más grande y completa del mundo El principal motor de la compañía fue el segmento empresarial Intelligent Cloud de Microsoft, que incluye la nube pública de Azure, productos de servidor como Windows Server, GitHub y servicios empresariales, debido a que los ingresos totalizaron 14,600 millones de dólares. Eso es un 23% más año tras año y por encima del consenso de 13,770 millones de dólares entre los analistas encuestados por FactSet. Los ingresos por productos de servidor y servicios en la nube aumentaron un 26%, impulsados por un crecimiento de los ingresos de Azure del 50%. Los analistas esperaban un crecimiento de alrededor del 42%. La demanda acelerada de nuestras ofertas diferenciadas impulsó los ingresos de la nube comercial a 16,700 mil millones, un 34% más año tras año. Seguimos beneficiándonos de nuestras inversiones en áreas estratégicas de alto crecimiento dijo Amy Hood, vicepresidenta ejecutiva y directora financiera de Microsoft El segmento de computación personal -que contiene Windows, juegos, dispositivos y publicidad de búsqueda- generó 15,120 millones de dólares en ingresos, los cuales aumentaron 14% y superaron la estimación de consenso de FactSet de 13,470 millones de dólares. Los ingresos por contenido y servicios de Xbox aumentaron 40%. La empresa lanzó, durante el trimestre, las consolas Xbox Series X y Series S. Microsoft devolvió 10,000 millones de dólares a los accionistas en forma de recompra de acciones y dividendos en el segundo trimestre del año fiscal 2021, un aumento del 18% en comparación con el segundo trimestre del año fiscal 2020."
Greek News:
"Την σημερινή ημέρα, όλο και περισσότερη ανθρώπινη δραστηριότητα είναι μέσω του διαδικτύου, πράγμα που κάνει τη κυβερνοασφάλεια ιδιαίτερα σημαντική. Έτσι, η Microsoft συνεχίζει την στρατηγική ενδυνάμωσης της στον τομέα της κυβερνοασφάλειας, με τις δραστηριότητες τις στην ασφάλεια να ξεπερνούν τα 10 δισεκατομμύρια δολάρια σε ετήσια έσοδα. Αυτή η αύξηση, αντιστοιχεί σε αύξηση παραπάνω από 40% συγκριτικά με το προηγούμενο έτος. Αυτή η αύξηση αποδίδεται στην αυξημένη υιοθέτηση λογισμικού όπως το Azure Sentinel και το Microsoft Defender. Ως αποτέλεσμα αυτής της στρατηγικής, καθημερινά τα συστήματα αυτά μπλοκάρουν δισεκατομμύρια κυβερνοαπειλές, ενώ παραπάνω από 425 εκατομμύρια χρήστες υποστηρίζονται μέσω της πλατφόρμας Azure Active Directory. Μια παράλληλη εξέλιξη είναι οι επενδύσεις στην ελληνική οικονομία. Πρόσφατα, ανακοινώθηκε επένδυση 500 εκατομμυρίων ευρώ για τη δημιουργία τριών Data Centers στην Αττική, με προοπτική λειτουργίας έως το 2025. Η επένδυση αυτή στοχεύει στη μετατροπή της Ελλάδας σε περιφερειακό κόμβο ψηφιακών υπηρεσιών αλλά και την εκπαίδευση 100.000 πολιτών σε διάφορες ψηφιακές δεξιότητες. Η πρωτοβουλία αυτή εντάσσεται στο ευρύτερο πλαίσιο του ψηφιακού μετασχηματισμού της ελληνικής οικονομίας που παρατηρείται τα τελευταία χρόνια. Εκτιμήσεις προβλέπουν ότι ο τεχνολογικός τομέας θα αγγίξει την συνεισφορά 10% στο κρατικό ΑΕΠ την επόμενη δεκαετία, σε σύγκριση με το περίπου 3% σήμερα. Οι αναμενόμενες επιδράσεις περιλαμβάνουν την ενίσχυση της παραγωγικότητας, την προσέλκυση επενδύσεων και τη δημιουργία νέων θέσεων εργασίας στον τομέα της τεχνολογίας."
Question:
How is the company allocating capital (e.g., investments, share repurchases, dividends) based on its performance and market outlook from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | How is the company allocating capital (e.g., investments, share repurchases, dividends) based on its performance and market outlook from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: Microsoft’s strategy includes 1. investing in high-growth areas like cloud computing, cybersecurity, and AI; 2. driving efficiency through digital transformation partnerships.
Financial Statement Evidence: Microsoft’s gross margin increased from $24.5B to $28.9B YoY in Q2 FY2021 from Q2 FY2020, supported by growth in service and other revenue, which increased from $18.7B to $23.6B. Operating income increased from $13.9B to $17.9B, while net income increased from $11.6B to $15.5B. |
MSFT_20210126 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 |
|:-------------------------------------------------------------------------------------|:-----------|:-----------------|:-----------|:-----------|:-------------|:-----------|:-----------|:-----------|
| (In millions) (Unaudited) | | | | | | | | |
| | | | | | | | | |
| | | | | | | | | |
| | | December 31,2020 | | | June 30,2020 | | | |
| | | | | | | | | |
| Assets | | | | | | | | |
| Current assets: | | | | | | | | |
| Cash and cash equivalents | | $ | 14,432 | | | $ | 13,576 | |
| Short-term investments | | | 117,536 | | | | 122,951 | |
| | | | | | | | | |
| | | | | | | | | |
| Total cash, cash equivalents, and short-term investments | | | 131,968 | | | | 136,527 | |
| Accounts receivable, net of allowance for doubtful accounts of$642and $788 | | | 27,312 | | | | 32,011 | |
| Inventories | | | 1,924 | | | | 1,895 | |
| Other current assets | | | 12,769 | | | | 11,482 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current assets | | | 173,973 | | | | 181,915 | |
| Property and equipment, net of accumulated depreciation of$47,715and $43,197 | | | 51,737 | | | | 44,151 | |
| Operating lease right-of-use assets | | | 10,298 | | | | 8,753 | |
| Equity investments | | | 3,794 | | | | 2,965 | |
| Goodwill | | | 44,219 | | | | 43,351 | |
| Intangible assets, net | | | 6,555 | | | | 7,038 | |
| Other long-term assets | | | 13,561 | | | | 13,138 | |
| | | | | | | | | |
| | | | | | | | | |
| Total assets | | $ | 304,137 | | | $ | 301,311 | |
| | | | | | | | | |
| | | | | | | | | |
| Liabilities and stockholders’ equity | | | | | | | | |
| Current liabilities: | | | | | | | | |
| Accounts payable | | $ | 12,770 | | | $ | 12,530 | |
| Current portion of long-term debt | | | 5,387 | | | | 3,749 | |
| Accrued compensation | | | 6,838 | | | | 7,874 | |
| Short-term income taxes | | | 1,562 | | | | 2,130 | |
| Short-term unearned revenue | | | 30,402 | | | | 36,000 | |
| Other current liabilities | | | 10,527 | | | | 10,027 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current liabilities | | | 67,486 | | | | 72,310 | |
| Long-term debt | | | 55,136 | | | | 59,578 | |
| Long-term income taxes | | | 26,701 | | | | 29,432 | |
| Long-term unearned revenue | | | 2,985 | | | | 3,180 | |
| Deferred income taxes | | | 174 | | | | 204 | |
| Operating lease liabilities | | | 8,875 | | | | 7,671 | |
| Other long-term liabilities | | | 12,544 | | | | 10,632 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities | | | 173,901 | | | | 183,007 | |
| | | | | | | | | |
| | | | | | | | | |
| Commitments and contingencies | | | | | | | | |
| Stockholders’ equity: | | | | | | | | |
| Common stock and paid-in capital – shares authorized24,000; outstanding7,546and7,571 | | | 81,896 | | | | 80,552 | |
| Retained earnings | | | 44,973 | | | | 34,566 | |
| Accumulated other comprehensive income | | | 3,367 | | | | 3,186 | |
| | | | | | | | | |
| | | | | | | | | |
| Total stockholders’ equity | | | 130,236 | | | | 118,304 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities and stockholders’ equity | | $ | 304,137 | | | $ | 301,311 | |
| | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 |
|:---------------------------------------------------------------------------------------------|:-----------|:-------------------------------|:-----------|:-----------|:-----------|:-----------------------------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| (In millions) (Unaudited) | | Three Months EndedDecember 31, | | | | Six Months EndedDecember 31, | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | 2020 | | | 2019 | | | | 2020 | | | | 2019 | | | |
| | | | | | | | | | | | | | | | | |
| Operations | | | | | | | | | | | | | | | | |
| Net income | | $ | 15,463 | | | $ | 11,649 | | | $ | 29,356 | | | $ | 22,327 | |
| Adjustments to reconcile net income to net cash from operations: | | | | | | | | | | | | | | | | |
| Depreciation, amortization, and other | | | 2,761 | | | | 3,203 | | | | 5,406 | | | | 6,174 | |
| Stock-based compensation expense | | | 1,566 | | | | 1,340 | | | | 3,022 | | | | 2,602 | |
| Net recognized gains on investments and derivatives | | | (354 | ) | | | (203 | ) | | | (482 | ) | | | (192 | ) |
| Deferred income taxes | | | (17 | ) | | | (53 | ) | | | (28 | ) | | | (230 | ) |
| Changes in operating assets and liabilities: | | | | | | | | | | | | | | | | |
| Accounts receivable | | | (4,008 | ) | | | (4,203 | ) | | | 4,835 | | | | 5,887 | |
| Inventories | | | 788 | | | | 799 | | | | (20 | ) | | | 238 | |
| Other current assets | | | 730 | | | | 165 | | | | 676 | | | | (273 | ) |
| Other long-term assets | | | (1,499 | ) | | | (517 | ) | | | (1,561 | ) | | | (850 | ) |
| Accounts payable | | | 33 | | | | (7 | ) | | | 348 | | | | (554 | ) |
| Unearned revenue | | | (3,227 | ) | | | (2,936 | ) | | | (6,291 | ) | | | (5,828 | ) |
| Income taxes | | | (2,368 | ) | | | (471 | ) | | | (3,351 | ) | | | (3,807 | ) |
| Other current liabilities | | | 1,755 | | | | 1,489 | | | | (1,196 | ) | | | (1,831 | ) |
| Other long-term liabilities | | | 893 | | | | 425 | | | | 1,137 | | | | 835 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net cash from operations | | | 12,516 | | | | 10,680 | | | | 31,851 | | | | 24,498 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Financing | | | | | | | | | | | | | | | | |
| Repayments of debt | | | (3,250 | ) | | | (18 | ) | | | (3,250 | ) | | | (2,518 | ) |
| Common stock issued | | | 302 | | | | 234 | | | | 847 | | | | 661 | |
| Common stock repurchased | | | (6,535 | ) | | | (5,206 | ) | | | (13,278 | ) | | | (10,118 | ) |
| Common stock cash dividends paid | | | (4,230 | ) | | | (3,886 | ) | | | (8,086 | ) | | | (7,396 | ) |
| Other, net | | | 79 | | | | (39 | ) | | | (156 | ) | | | 247 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net cash used in financing | | | (13,634 | ) | | | (8,915 | ) | | | (23,923 | ) | | | (19,124 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Investing | | | | | | | | | | | | | | | | |
| Additions to property and equipment | | | (4,174 | ) | | | (3,545 | ) | | | (9,081 | ) | | | (6,930 | ) |
| Acquisition of companies, net of cash acquired, and purchases of intangible and other assets | | | (415 | ) | | | (80 | ) | | | (896 | ) | | | (542 | ) |
| Purchases of investments | | | (15,092 | ) | | | (19,011 | ) | | | (29,672 | ) | | | (42,401 | ) |
| Maturities of investments | | | 15,264 | | | | 11,230 | | | | 29,530 | | | | 30,312 | |
| Sales of investments | | | 2,421 | | | | 5,370 | | | | 4,835 | | | | 11,749 | |
| Other, net | | | 327 | | | | 0 | | | | (1,756 | ) | | | 0 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net cash used in investing | | | (1,669 | ) | | | (6,036 | ) | | | (7,040 | ) | | | (7,812 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Effect of foreign exchange rates on cash and cash equivalents | | | 14 | | | | 18 | | | | (32 | ) | | | (54 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net change in cash and cash equivalents | | | (2,773 | ) | | | (4,253 | ) | | | 856 | | | | (2,492 | ) |
| Cash and cash equivalents, beginning of period | | | 17,205 | | | | 13,117 | | | | 13,576 | | | | 11,356 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Cash and cash equivalents, end of period | | $ | 14,432 | | | $ | 8,864 | | | $ | 14,432 | | | $ | 8,864 | |
| | | | | | | | | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 |
|:----------------------------------------------------|:-----------|:-----------|:-------------------------------|:-----------|:-----------|:-----------|:-----------------------------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| (In millions, except per share amounts) (Unaudited) | | | Three Months EndedDecember 31, | | | | Six Months EndedDecember 31, | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | | 2020 | | | | 2019 | | | | 2020 | | | | 2019 | |
| | | | | | | | | | | | | | | | | |
| Revenue: | | | | | | | | | | | | | | | | |
| Product | | $ | 19,460 | | | $ | 18,255 | | | $ | 35,263 | | | $ | 34,023 | |
| Service and other | | | 23,616 | | | | 18,651 | | | | 44,967 | | | | 35,938 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Total revenue | | | 43,076 | | | | 36,906 | | | | 80,230 | | | | 69,961 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Cost of revenue: | | | | | | | | | | | | | | | | |
| Product | | | 6,058 | | | | 4,966 | | | | 9,655 | | | | 8,271 | |
| Service and other | | | 8,136 | | | | 7,392 | | | | 15,541 | | | | 14,493 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Total cost of revenue | | | 14,194 | | | | 12,358 | | | | 25,196 | | | | 22,764 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Gross margin | | | 28,882 | | | | 24,548 | | | | 55,034 | | | | 47,197 | |
| Research and development | | | 4,899 | | | | 4,603 | | | | 9,825 | | | | 9,168 | |
| Sales and marketing | | | 4,947 | | | | 4,933 | | | | 9,178 | | | | 9,270 | |
| General and administrative | | | 1,139 | | | | 1,121 | | | | 2,258 | | | | 2,182 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Operating income | | | 17,897 | | | | 13,891 | | | | 33,773 | | | | 26,577 | |
| Other income, net | | | 440 | | | | 194 | | | | 688 | | | | 194 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Income before income taxes | | | 18,337 | | | | 14,085 | | | | 34,461 | | | | 26,771 | |
| Provision for income taxes | | | 2,874 | | | | 2,436 | | | | 5,105 | | | | 4,444 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net income | | $ | 15,463 | | | $ | 11,649 | | | $ | 29,356 | | | $ | 22,327 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Earnings per share: | | | | | | | | | | | | | | | | |
| Basic | | $ | 2.05 | | | $ | 1.53 | | | $ | 3.88 | | | $ | 2.93 | |
| Diluted | | $ | 2.03 | | | $ | 1.51 | | | $ | 3.85 | | | $ | 2.90 | |
| | | | | | | | | | | | | | | | | |
| Weighted average shares outstanding: | | | | | | | | | | | | | | | | |
| Basic | | | 7,555 | | | | 7,621 | | | | 7,561 | | | | 7,628 | |
| Diluted | | | 7,616 | | | | 7,691 | | | | 7,627 | | | | 7,701 | |
| | | | | | | | | | | | | | | | | |
---
English News:
"""Medable Inc. has appointed Parag Vaish as Chief Product Officer, leveraging his extensive experience in product innovation from roles at Tesla, Epocrates, and StubHub. Vaish's expertise in creating intuitive and frictionless user experiences aligns with Medable's mission to transform the clinical trial process for patients and clinicians. Medable has demonstrated significant growth, with a 400% revenue increase in 2020 and $118 million in new funding, driven by the launch of five new products and the acquisition of 50 new clients. The company's digital platform aims to streamline decentralized clinical trials, enhancing patient access and retention while accelerating trial execution. This strategic hire and Medable's robust growth trajectory suggest a strong potential for continued innovation and market expansion in the healthcare technology sector. (Sentiment: positive)"", ""The Ireland Data Center Market is projected to grow at a CAGR of 6.7% from 2020 to 2025, driven by increased hyperscale investments and the implementation of GDPR, which has boosted data traffic. Dublin has become a cloud computing hub with major players like Microsoft, Google, AWS, and IBM, and connectivity to cloud service providers is crucial for colocation providers. Microsoft has expanded its data center campus by acquiring 20 acres in Grange Castle, indicating significant investment in the region. The market is moderately competitive, with key players adopting strategies like partnerships and mergers to enhance their market positions. The COVID-19 pandemic has had a moderate impact on construction projects, but future projects may face more significant challenges. (Sentiment: positive)"", ""Attabotics and FoodX Technologies have partnered to offer a comprehensive micro-fulfillment solution for the grocery e-commerce market, leveraging Microsoft's Azure platform. This joint solution aims to provide significant cost savings, increased delivery speed, and improved unit economics for retailers by combining Attabotics' 3D robotics system with FoodX's eGrocery software. The use of Microsoft Azure Private Edge Zones, Azure Stack Edge, and Azure Sphere will enhance the digital supply chain with advanced data and AI capabilities. This partnership is expected to capitalize on the growing e-commerce market, particularly in the wake of the COVID-19 pandemic, by enabling more efficient and sustainable fulfillment operations. The collaboration underscores Microsoft's strategic role in transforming supply chain logistics and could drive further adoption of Azure services in the retail sector. (Sentiment: positive)"", ""Illusive has launched an automated detection and response partner ecosystem program, integrating with Microsoft Azure Sentinel and Azure Active Directory to enhance cybersecurity measures. This collaboration aims to fill the market gap in automated threat detection by continuously identifying and removing risky credentials, thus preventing lateral movement by attackers. Illusive's integration with Azure Sentinel provides custom dashboards for immediate action on threats, while Azure Active Directory benefits from continuous credential hygiene. The partnership with Microsoft enhances the security stack, offering comprehensive protection against emerging threats. This development could strengthen Microsoft's position in the cybersecurity market, potentially making it a more attractive investment. (Sentiment: positive)"", ""Mobilize.Net has partnered with Infragistics to develop automated migration tools for Silverlight, facilitating the transition to Angular and HTML, which could benefit Microsoft's ecosystem by reducing technical debt and modernizing legacy applications. The release of a free migration assessment tool for Silverlight by Mobilize.Net provides detailed inventories and modernization insights, potentially increasing the adoption of Microsoft's cloud and web platforms. Mobilize.Net's technology, already favored by Snowflake and Microsoft customers, underscores its reliability and effectiveness in large-scale code modernization. This partnership aligns with Microsoft's strategic focus on cloud and web services, potentially driving further growth and customer retention. The collaboration highlights the ongoing demand for tools that enhance developer productivity and modernize legacy systems, which could positively impact Microsoft's market position. (Sentiment: positive)"", ""SAS is launching a series of global hackathons, starting with the #HackinSAS event in March, to foster innovation using advanced analytics, AI, and cloud technologies. These hackathons will leverage the SAS Viya analytics platform running on Microsoft Azure, highlighting a strategic partnership between SAS and Microsoft. Participants, including SAS customers, technology partners, independent developers, students, and startups, will collaborate to solve significant business and humanitarian challenges. The initiative aims to create viable applications and products that SAS will help develop and commercialize, potentially driving demand for Microsoft's Azure services. This collaboration underscores Microsoft's commitment to supporting innovative solutions and expanding its cloud platform's reach. (Sentiment: positive)"", ""The global automotive cloud market is projected to grow significantly by 2025, driven by increasing connected vehicles, demand for IoT and 5G communication, and changing consumer preferences towards advanced vehicle applications. The infotainment segment is expected to dominate the market, with passenger vehicles leading in terms of value. Key players in the market include Microsoft, Amazon Web Services, and other major tech and automotive companies. The report highlights emerging opportunities such as the integration of blockchain and the rise of autonomous and ride-sharing services. Microsoft's involvement in the automotive cloud market positions it well to capitalize on these growth trends and technological advancements. (Sentiment: positive)"", ""Beezy Inc. has successfully deployed its digital workplace solution in Microsoft's Government Community Cloud (GCC) High environment, catering to highly regulated US government agencies and contractors. This deployment allows these organizations to replace outdated intranets with a modern, AI-powered platform that enhances communication and collaboration while ensuring data security. Beezy's solution is fully optimized for mobile and keeps all content and data within the customer's infrastructure, meeting stringent cybersecurity and compliance requirements. This development highlights Microsoft's ability to support advanced, secure digital workplace solutions, potentially increasing its appeal to high-security sectors. The successful integration of Beezy in the GCC High environment could drive further adoption of Microsoft 365 among government and defense contractors, bolstering Microsoft's market position in these sectors. (Sentiment: positive)"", ""Stealth, a Sparton company, has launched the WPC-905, a rugged, fanless, waterproof mini PC designed to meet IP67 environmental specifications, making it highly resistant to liquids, chemicals, dust, and dirt. The WPC-905 features powerful 8th Generation Intel Celeron and Core Processors, solid state drives with optional RAID configurations, and a wide-ranging 9-48VDC power input, suitable for various applications including IoT, industrial, marine, and transportation. It is compatible with Microsoft Windows 10, Server 2019, and Linux, and includes TPM 2.0 for enhanced hardware security. The product is RoHS, CE & FCC, EN50121-3-2, and EN50155 certified, and comes with a standard 2-year warranty, extendable to 3 years. Basic configurations start at $3,195 USD and are now available for shipping. (Sentiment: positive)"", ""Redis Labs has appointed Taimur Rashid as Chief Business Development Officer, leveraging his nearly two decades of experience, including significant roles at Microsoft and Amazon Web Services. Rashid's expertise in cloud hyperscalers and market expansion is expected to drive Redis Labs' growth, particularly in artificial intelligence and cloud-native architectures. His previous role at Microsoft involved leading customer success for Azure Data & AI, indicating strong capabilities in fostering customer adoption and growth. This move could signal increased competition for Microsoft in the cloud and AI sectors, as Redis Labs aims to enhance its market position. Investors in Microsoft should monitor how this leadership change at Redis Labs impacts the competitive landscape in cloud services and AI. (Sentiment: neutral)"", ""Sprinklr's 2021 Customer Care Report, in partnership with Twitter, highlights the increasing importance of robust customer support strategies on Twitter, especially during the global pandemic, which saw a 15% rise in customer care inquiries. The report identifies best practices across 11 industries, with airlines leading in customer care performance. The Sprinklr Care Score, a new metric based on seven indicators, is used to rank brands' customer support quality on Twitter. Microsoft, a client of Sprinklr, can leverage these insights to enhance its customer care strategy on Twitter, potentially boosting customer satisfaction and brand loyalty. This focus on superior customer support could positively impact Microsoft's brand value and customer retention, making it a relevant consideration for investors. (Sentiment: positive)"", ""CloudSphere has appointed Jane Gilson, a former executive at Google and Microsoft, as its new CEO to drive international growth and scale the business amid increasing demand for cloud management and governance solutions. Gilson's extensive experience in scaling multi-billion-dollar divisions and her background in SaaS and cloud customer needs position her well to lead CloudSphere's expansion. Her leadership at Google saw a 66% growth in the emerging market division, and she has managed businesses ranging from $100M to $5B. CloudSphere's strategic partnerships with Microsoft, AWS, and Google Cloud are expected to strengthen under Gilson's leadership, potentially benefiting these tech giants. The company's focus on addressing multicloud governance and security challenges aligns with the growing enterprise adoption of multicloud strategies, a trend that could drive further investment in cloud services. (Sentiment: positive)"", ""Smarty has launched SmartyPlus, a premium subscription service aimed at enhancing online shopping by offering double cashback, free shipping, price protection, and free returns, addressing the increased reliance on online shopping due to the pandemic. Research indicates strong consumer interest, with over 50% of Americans willing to pay for double cashback and significant percentages willing to pay for other benefits like late shipment rebates and guaranteed free returns. The service leverages algorithms to continuously find new benefits and protect online purchases, potentially increasing user satisfaction and retention. Smarty's existing browser extension already supports major retailers like Target, Walmart, and Best Buy, suggesting a robust infrastructure and market presence. This development could influence investment decisions in the e-commerce and tech sectors, including companies like Microsoft, which could benefit from partnerships or integrations with such innovative shopping solutions. (Sentiment: positive)"", ""Veritas Technologies has announced significant updates to its Enterprise Data Services Platform, including the acquisition of HubStor to enhance its enterprise SaaS data protection capabilities. This acquisition leverages Microsoft Azure's global footprint, offering customers improved data sovereignty, replication, and integration with other Azure services. The integration of HubStor's technology into Veritas' platform aims to simplify operations and reduce risks associated with cloud data protection, particularly for SaaS applications like Microsoft 365, Slack, and Box. This move strengthens Veritas' position in the multi-cloud data protection market, which could positively impact Microsoft's cloud services ecosystem. Investors in Microsoft (MSFT) may view this development as a strategic advantage, enhancing the value proposition of Azure and potentially driving increased adoption of Microsoft's cloud services. (Sentiment: positive)"", ""CitiusTech has been named a Leader in Everest Group's Healthcare IT Services Specialists PEAK Matrix Assessment 2021, highlighting its strong focus on digital innovation and healthcare domain expertise. The company's strategic partnerships with major tech players, including Microsoft, IBM, AWS, and GCP, are cited as key strengths. This recognition underscores CitiusTech's ability to drive transformational change across the healthcare value chain, benefiting payers, providers, life sciences, and healthcare technology companies. The acquisition of FluidEdge Consulting has further bolstered its position by enhancing its expertise and presence in the provider and payer segments. For investors in Microsoft, this partnership with a recognized leader in healthcare IT services could signify potential growth opportunities in the healthcare technology sector. (Sentiment: positive)"", ""AV-Comparatives released its 2020 Summary Report for consumer security products, testing 17 programs for protection and performance. Microsoft received a Bronze Award in the Real-World Protection Test, indicating competent protection against internet-borne threats. However, Microsoft did not secure top positions in other categories such as Malware Protection, False-Positives, Performance, or Advanced Threat Protection. Kaspersky was awarded Product of the Year, while Bitdefender and ESET received the Outstanding Security Product Award. Investors should note that while Microsoft’s security product is reliable, it may not be the top choice compared to competitors like Kaspersky, Bitdefender, and ESET. (Sentiment: neutral)"", ""Confluent has announced a strategic alliance with Microsoft, integrating its fully managed Apache Kafka service, Confluent Cloud, directly into the Azure platform. This partnership introduces seamless single sign-on via Azure Active Directory, pre-built connectors, and a unified billing model, simplifying the adoption of real-time event streaming for Azure customers. The integration aims to alleviate the operational complexities of managing Kafka, enabling businesses to build real-time applications more efficiently. This move is expected to enhance Azure's appeal to enterprises seeking scalable, flexible, and agile data streaming solutions. The collaboration underscores Microsoft's commitment to expanding its cloud services ecosystem, potentially driving increased Azure adoption and revenue growth. (Sentiment: positive)"", ""H2O.ai has launched the H2O AI Hybrid Cloud, an end-to-end AI platform that integrates with Microsoft Azure, enabling organizations to build, deploy, and manage AI models across any cloud or on-premises infrastructure. The platform features over 200 data connectors, AutoML capabilities, and machine learning operations technology, which can significantly streamline AI development and deployment processes. H2O AI Hybrid Cloud's integration with Snowflake allows data engineers to build and score AI models using SQL, enhancing productivity and reducing time-to-market for AI solutions. The platform's compatibility with Red Hat OpenShift further supports hybrid and multi-cloud requirements, making it a versatile solution for enterprises. This development positions Microsoft Azure as a key player in the AI and cloud computing space, potentially driving increased adoption and investment in Microsoft's cloud services. (Sentiment: positive)"", ""Tridius Technologies, a Dallas-based technology consulting firm specializing in the Microsoft Stack, has opened a new office in San José, Costa Rica, to leverage the city's technological talent and advantageous time zone. This expansion aims to provide nearshore resources to clients, enhancing their investment returns and IT solutions. The new office will focus on digital transformation, cloud strategy, application development, and managed services, with plans to grow to 15-20 bilingual employees by the end of 2021. Tridius' move to Costa Rica aligns with its long-term strategy to build a world-class nearshore development team, potentially increasing demand for Microsoft technologies. This expansion could positively impact Microsoft's market presence in mid-market sectors such as finance, banking, legal, accounting, healthcare, and entertainment. (Sentiment: positive)"", ""Procede Software, a leading provider of dealer management systems for the heavy-duty truck industry, celebrates its 20th anniversary, attributing its exponential growth to strong customer relationships, partnerships, and a focus on delivering customer value. The company has been a pioneer in technology innovation, utilizing Microsoft SQL Server for unprecedented data access and maintaining a modern user interface. Procede Software's latest advancements include Excede v10.1 and Excede Analytics, and it continues to be a Microsoft Gold Certified Partner, optimizing its software for both on-premise and cloud solutions with Microsoft Azure. The company has received the Best in Biz Award for Enterprise Software Product of the Year for the past two years. Procede Software's commitment to long-term partnerships and customer engagement, along with its robust support and training programs, positions it for continued growth and scalability. (Sentiment: positive)"", ""Arena Analytics has launched the first AI Ethics Advisory Board in the HR technology sector, aiming to address ethical concerns as it deploys advanced AI technologies to reduce bias and optimize workforce management. The board comprises experts from various fields, including HR, academia, technology, and ethics, to provide comprehensive guidance on ethical AI use. Arena's recent advancements in machine learning, particularly in reducing algorithmic bias, position it as a leader in ethical AI application in the labor market. This initiative highlights the growing importance of ethical considerations in AI development, a trend that could influence broader industry practices, including those at major tech firms like Microsoft. Investors should note the increasing emphasis on ethical AI as a potential differentiator and risk mitigator in the technology sector. (Sentiment: positive)"", ""ElectroNeek has appointed Keith Abramson as Global VP of Sales, leveraging his 11 years of experience in early-stage SaaS startups to drive global expansion. Abramson's previous roles in successful companies like Tufin, Darktrace, and Kyriba highlight his capability in executing hypergrowth sales strategies. ElectroNeek, recognized as an RPA Momentum Market Leader by G2, has established significant partnerships with major tech companies, including Microsoft, Oracle, and Nvidia. The company's focus on providing accessible RPA solutions to SMEs positions it well for continued growth in the rapidly expanding RPA sector. This strategic hire and ElectroNeek's strong market position could positively impact its partners, including Microsoft, by driving further adoption and integration of RPA technologies. (Sentiment: positive)"", ""The US Software Defined Data Center (SDDC) market, valued at $14.30 billion in 2019, is projected to reach $50.93 billion by 2027, growing at a CAGR of 17.4%. Key drivers include the rising generation of big data, increased adoption of SDDC in sectors like BFSI, and the shift towards cloud infrastructure due to COVID-19. Microsoft Corporation, as a leading player, is well-positioned to benefit from this growth, given its focus on offering cutting-edge SDDC solutions. The pandemic has accelerated the adoption of remote working and hybrid IT infrastructure, further driving demand for SDDC. Cybersecurity issues remain a potential restraint, but the overall market outlook is positive, with significant opportunities in advanced colocation centers and data center automation. (Sentiment: positive)"", ""Microsoft Corp. announced its fiscal year 2021 second-quarter financial results, which are now available on its Investor Relations website. The company will also host a conference call to discuss these results at 2:30 p.m. Pacific Time, accessible via a live webcast on the same website. Microsoft continues to focus on enabling digital transformation through its intelligent cloud and intelligent edge solutions. Investors can find detailed financial performance metrics and insights by accessing the provided links. This information is crucial for making informed investment decisions regarding Microsoft (Nasdaq: MSFT). (Sentiment: neutral)"" "
Chinese News:
"1月27日，微软公布了2021财年第二财季财报。 根据财报，微软该季度营收为431亿美元，与去年同期的369亿美元相比增长17%，高出此前分析师预期。在按照美国通用会计准则(GAAP)下，微软该季度净利润为155亿美元，与去年同期的116亿美元相比提高33%；在非美国通用会计准则(non-GAAP)下，微软该季度净利润为155亿美元，增长29%。 受财报良好表现，微软股价上涨1.22%收盘价为232.33美元，为一年来最高。 按照部门划分，微软生产力和业务流程部门第四季度营收为134亿美元，与去年同期的118亿美元相比增长13%。 微软第四季度智能云部门的营收为146亿美元，与去年同期的119亿美元相比增长23%。其中，Azure云计算业务营收增长为50%，在连续两个季度增速低于50%之后再次恢复增速，Azure一直是智能云部门营收的最重要驱动力。 微软CFO艾米胡德表示，“对微软差异化产品的需求不断增加，推动商业云计算业务收入达到167亿美元，同比增长34%。我们继续受益于我们在战略性、高增长领域的投资。” 更多个人计算业务营收为151亿美元，与去年同期的132亿美元相比增长14%，其中Xbox内容和服务收入增长了40%。疫情发生后，微软游戏业务一直保持着高增长。在2020年第四财季，Xbox内容和服务收入增长了65%，创下新高。 广告搜索业务营收此前多个季度连续下滑，第一财季营收同比下滑了10%，而在第二财季营收上涨2%，有所恢复。 微软在财报中表示，新冠疫情下确保员工的健康仍然是微软的重点。在2020年10月，微软曾表示将允许部分员工在疫情消退后定期在家办公。微软还表示，如果得到管理人员的批准，一些员工将可以永久远程工作。 此外，在第二财季内微软将旗下搜索引擎Bing改名为Microsoft Bing，作为其重塑品牌举措的一部分。 最近一年，微软除了原有各项业务，在试图拓展新的增长空间，无人驾驶、自研芯片、电竞都是微软计划涉足的领域。 1月20日，微软宣布与通用旗下自动驾驶汽车公司Cruise进行合作，双方将加速无人驾驶汽车的商业化进程。微软同时与其他投资者一起，对Cruise进行了超过20亿美元的投资。 此外，在2020年12月，彭博社报道微软正在为服务器和Surface电脑设计自己的芯片。 同样在2020年12月，电竞平台Smash.gg宣布被微软收购的消息，并表示将继续独立运营。Smash.gg官网显示，目前平台已经支持超过6000个主办方举办赛事。 不过，这项投资的结果还有待观察。2016年微软收购了交互式游戏直播服务 Beam，并改名为Mixer。但微软在2020年6月宣布将关闭Mixer，同时这部分业务收尾与Facebook合作，微软宣布关闭的同时建议游戏玩家和观众“移步”至Facebook的直播网站。"
Japanese News:
"米マイクロソフトは1月26日に、2020年12月末締めの第2四半期決算を公表した。売上は前年同期に比べ17％増加し、市場の予測を上回る好業績となった。新型コロナウイルス感染拡大による世界的なテレワークの普及が追い風となり、クラウド事業が好調を維持したことが要因とみられる。 この発表を受けて、同社株は時間外取引で4％の値上がりを見せた。 同期の総売上高は430億8000万ドルとなり、前年の同じ時期（369億1000万ドル）を約17％上回り、市場アナリストの予測（401億8000万ドル）を超えた。 特に好調だったのは「インテリジェントクラウド」部門で、売上は前年同期比23％増の146億ドルを記録。主力のクラウドサービス「アジュール」は、売上成長率が前四半期の48％から50％へと伸び、市場予想の平均（41.4％）を大きく超える好成績となった。 同社のCFOであるエイミー・フッド氏はロイターの取材に対し、「顧客企業がデジタル化への移行を積極的に進める中、需要が予想を超えるペースで伸びている」と語った。 また、アトランティック・エクイティーズのアナリストであるジェームズ・コードウェル氏は、「昨年はコロナによる景気減速や導入の遅れから、クラウド需要の拡大がアジュールにどれほど寄与するか明らかではなかったが、今回の結果で明確になった」と分析した。 マイクロソフトは法人向けに提供する「オフィス」や「アジュール」などの製品・サービスを「コマーシャルクラウド」として統合的に扱っており、投資家は大型法人顧客への販売動向を測る重要な指標として注視している。この部門の粗利益率は前年同期の67％から71％へ改善した。 パソコン向け基本ソフト「ウィンドウズ」やゲーム機「Xbox」などを含む個人向けコンピューティング部門は、売上が前年同期比14％増の151億ドルとなり、市場予測（135億ドル）を上回った。昨年11月、新型コロナ感染拡大によるゲーム需要を捉えるため、「Xbox Series X」「Xbox Series S」を発売したが、世界的な半導体供給不足により在庫不足となったにもかかわらず、Xboxハードウェアの売上は86％増と大幅に伸びた。 フッド氏は、「供給が需要に追いつかない状況は当面続くと考えている」との見方を示した。 ゲーム関連の収益は四半期として初めて50億ドルを超え、ゲーム機本体だけでなくゲームの定額課金サービスなども好調に推移した結果、Xboxのコンテンツおよびサービスの売上は40％増となった。 さらにビジネス特化型のSNSである「リンクトイン」の売上も前年同期比23％増加した。新型コロナによる経済活動停滞の影響で伸びが鈍化していたものの、広告収入の回復により、コロナ禍前の増収率（24％）に迫る水準まで改善しているとフッド氏は説明した。"
Spanish News:
"Microsoft informó que sus ingresos del trimestre finalizado el 31 de diciembre de 2020 aumentaron 17% en comparación con el trimestre del año fiscal anterior, a 43,100 millones de dólares, según su informe financiero. Antes de la presentación del reporte financiero, las acciones de Microsoft cerraron a 232.33 dólares por acción, registrando un nuevo máximo histórico por primera vez desde septiembre. Las acciones de Microsoft han subido alrededor de un 5% desde principios de 2021. En operaciones tras el cierre del mercado, los títulos avanzan más de 4%. Desarrollar su propia capacidad digital es la nueva moneda que impulsa la resiliencia y el crecimiento de cada organización. Microsoft está impulsando este cambio con la plataforma en la nube más grande y completa del mundo El principal motor de la compañía fue el segmento empresarial Intelligent Cloud de Microsoft, que incluye la nube pública de Azure, productos de servidor como Windows Server, GitHub y servicios empresariales, debido a que los ingresos totalizaron 14,600 millones de dólares. Eso es un 23% más año tras año y por encima del consenso de 13,770 millones de dólares entre los analistas encuestados por FactSet. Los ingresos por productos de servidor y servicios en la nube aumentaron un 26%, impulsados por un crecimiento de los ingresos de Azure del 50%. Los analistas esperaban un crecimiento de alrededor del 42%. La demanda acelerada de nuestras ofertas diferenciadas impulsó los ingresos de la nube comercial a 16,700 mil millones, un 34% más año tras año. Seguimos beneficiándonos de nuestras inversiones en áreas estratégicas de alto crecimiento dijo Amy Hood, vicepresidenta ejecutiva y directora financiera de Microsoft El segmento de computación personal -que contiene Windows, juegos, dispositivos y publicidad de búsqueda- generó 15,120 millones de dólares en ingresos, los cuales aumentaron 14% y superaron la estimación de consenso de FactSet de 13,470 millones de dólares. Los ingresos por contenido y servicios de Xbox aumentaron 40%. La empresa lanzó, durante el trimestre, las consolas Xbox Series X y Series S. Microsoft devolvió 10,000 millones de dólares a los accionistas en forma de recompra de acciones y dividendos en el segundo trimestre del año fiscal 2021, un aumento del 18% en comparación con el segundo trimestre del año fiscal 2020."
Greek News:
"Την σημερινή ημέρα, όλο και περισσότερη ανθρώπινη δραστηριότητα είναι μέσω του διαδικτύου, πράγμα που κάνει τη κυβερνοασφάλεια ιδιαίτερα σημαντική. Έτσι, η Microsoft συνεχίζει την στρατηγική ενδυνάμωσης της στον τομέα της κυβερνοασφάλειας, με τις δραστηριότητες τις στην ασφάλεια να ξεπερνούν τα 10 δισεκατομμύρια δολάρια σε ετήσια έσοδα. Αυτή η αύξηση, αντιστοιχεί σε αύξηση παραπάνω από 40% συγκριτικά με το προηγούμενο έτος. Αυτή η αύξηση αποδίδεται στην αυξημένη υιοθέτηση λογισμικού όπως το Azure Sentinel και το Microsoft Defender. Ως αποτέλεσμα αυτής της στρατηγικής, καθημερινά τα συστήματα αυτά μπλοκάρουν δισεκατομμύρια κυβερνοαπειλές, ενώ παραπάνω από 425 εκατομμύρια χρήστες υποστηρίζονται μέσω της πλατφόρμας Azure Active Directory. Μια παράλληλη εξέλιξη είναι οι επενδύσεις στην ελληνική οικονομία. Πρόσφατα, ανακοινώθηκε επένδυση 500 εκατομμυρίων ευρώ για τη δημιουργία τριών Data Centers στην Αττική, με προοπτική λειτουργίας έως το 2025. Η επένδυση αυτή στοχεύει στη μετατροπή της Ελλάδας σε περιφερειακό κόμβο ψηφιακών υπηρεσιών αλλά και την εκπαίδευση 100.000 πολιτών σε διάφορες ψηφιακές δεξιότητες. Η πρωτοβουλία αυτή εντάσσεται στο ευρύτερο πλαίσιο του ψηφιακού μετασχηματισμού της ελληνικής οικονομίας που παρατηρείται τα τελευταία χρόνια. Εκτιμήσεις προβλέπουν ότι ο τεχνολογικός τομέας θα αγγίξει την συνεισφορά 10% στο κρατικό ΑΕΠ την επόμενη δεκαετία, σε σύγκριση με το περίπου 3% σήμερα. Οι αναμενόμενες επιδράσεις περιλαμβάνουν την ενίσχυση της παραγωγικότητας, την προσέλκυση επενδύσεων και τη δημιουργία νέων θέσεων εργασίας στον τομέα της τεχνολογίας."
Question:
What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: Microsoft made capital expenditures to expand its global cloud infrastructure, such as Microsoft acquired 20 acres in Grange Castle, Dublin for a new data center campus and invested €500M in a data center project in Greece.
Financial Statement Evidence: Microsoft's capital expenditures were $4.2M in Q2 FY2021. |
MSFT_20210126 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 |
|:-------------------------------------------------------------------------------------|:-----------|:-----------------|:-----------|:-----------|:-------------|:-----------|:-----------|:-----------|
| (In millions) (Unaudited) | | | | | | | | |
| | | | | | | | | |
| | | | | | | | | |
| | | December 31,2020 | | | June 30,2020 | | | |
| | | | | | | | | |
| Assets | | | | | | | | |
| Current assets: | | | | | | | | |
| Cash and cash equivalents | | $ | 14,432 | | | $ | 13,576 | |
| Short-term investments | | | 117,536 | | | | 122,951 | |
| | | | | | | | | |
| | | | | | | | | |
| Total cash, cash equivalents, and short-term investments | | | 131,968 | | | | 136,527 | |
| Accounts receivable, net of allowance for doubtful accounts of$642and $788 | | | 27,312 | | | | 32,011 | |
| Inventories | | | 1,924 | | | | 1,895 | |
| Other current assets | | | 12,769 | | | | 11,482 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current assets | | | 173,973 | | | | 181,915 | |
| Property and equipment, net of accumulated depreciation of$47,715and $43,197 | | | 51,737 | | | | 44,151 | |
| Operating lease right-of-use assets | | | 10,298 | | | | 8,753 | |
| Equity investments | | | 3,794 | | | | 2,965 | |
| Goodwill | | | 44,219 | | | | 43,351 | |
| Intangible assets, net | | | 6,555 | | | | 7,038 | |
| Other long-term assets | | | 13,561 | | | | 13,138 | |
| | | | | | | | | |
| | | | | | | | | |
| Total assets | | $ | 304,137 | | | $ | 301,311 | |
| | | | | | | | | |
| | | | | | | | | |
| Liabilities and stockholders’ equity | | | | | | | | |
| Current liabilities: | | | | | | | | |
| Accounts payable | | $ | 12,770 | | | $ | 12,530 | |
| Current portion of long-term debt | | | 5,387 | | | | 3,749 | |
| Accrued compensation | | | 6,838 | | | | 7,874 | |
| Short-term income taxes | | | 1,562 | | | | 2,130 | |
| Short-term unearned revenue | | | 30,402 | | | | 36,000 | |
| Other current liabilities | | | 10,527 | | | | 10,027 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current liabilities | | | 67,486 | | | | 72,310 | |
| Long-term debt | | | 55,136 | | | | 59,578 | |
| Long-term income taxes | | | 26,701 | | | | 29,432 | |
| Long-term unearned revenue | | | 2,985 | | | | 3,180 | |
| Deferred income taxes | | | 174 | | | | 204 | |
| Operating lease liabilities | | | 8,875 | | | | 7,671 | |
| Other long-term liabilities | | | 12,544 | | | | 10,632 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities | | | 173,901 | | | | 183,007 | |
| | | | | | | | | |
| | | | | | | | | |
| Commitments and contingencies | | | | | | | | |
| Stockholders’ equity: | | | | | | | | |
| Common stock and paid-in capital – shares authorized24,000; outstanding7,546and7,571 | | | 81,896 | | | | 80,552 | |
| Retained earnings | | | 44,973 | | | | 34,566 | |
| Accumulated other comprehensive income | | | 3,367 | | | | 3,186 | |
| | | | | | | | | |
| | | | | | | | | |
| Total stockholders’ equity | | | 130,236 | | | | 118,304 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities and stockholders’ equity | | $ | 304,137 | | | $ | 301,311 | |
| | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 |
|:---------------------------------------------------------------------------------------------|:-----------|:-------------------------------|:-----------|:-----------|:-----------|:-----------------------------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| (In millions) (Unaudited) | | Three Months EndedDecember 31, | | | | Six Months EndedDecember 31, | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | 2020 | | | 2019 | | | | 2020 | | | | 2019 | | | |
| | | | | | | | | | | | | | | | | |
| Operations | | | | | | | | | | | | | | | | |
| Net income | | $ | 15,463 | | | $ | 11,649 | | | $ | 29,356 | | | $ | 22,327 | |
| Adjustments to reconcile net income to net cash from operations: | | | | | | | | | | | | | | | | |
| Depreciation, amortization, and other | | | 2,761 | | | | 3,203 | | | | 5,406 | | | | 6,174 | |
| Stock-based compensation expense | | | 1,566 | | | | 1,340 | | | | 3,022 | | | | 2,602 | |
| Net recognized gains on investments and derivatives | | | (354 | ) | | | (203 | ) | | | (482 | ) | | | (192 | ) |
| Deferred income taxes | | | (17 | ) | | | (53 | ) | | | (28 | ) | | | (230 | ) |
| Changes in operating assets and liabilities: | | | | | | | | | | | | | | | | |
| Accounts receivable | | | (4,008 | ) | | | (4,203 | ) | | | 4,835 | | | | 5,887 | |
| Inventories | | | 788 | | | | 799 | | | | (20 | ) | | | 238 | |
| Other current assets | | | 730 | | | | 165 | | | | 676 | | | | (273 | ) |
| Other long-term assets | | | (1,499 | ) | | | (517 | ) | | | (1,561 | ) | | | (850 | ) |
| Accounts payable | | | 33 | | | | (7 | ) | | | 348 | | | | (554 | ) |
| Unearned revenue | | | (3,227 | ) | | | (2,936 | ) | | | (6,291 | ) | | | (5,828 | ) |
| Income taxes | | | (2,368 | ) | | | (471 | ) | | | (3,351 | ) | | | (3,807 | ) |
| Other current liabilities | | | 1,755 | | | | 1,489 | | | | (1,196 | ) | | | (1,831 | ) |
| Other long-term liabilities | | | 893 | | | | 425 | | | | 1,137 | | | | 835 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net cash from operations | | | 12,516 | | | | 10,680 | | | | 31,851 | | | | 24,498 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Financing | | | | | | | | | | | | | | | | |
| Repayments of debt | | | (3,250 | ) | | | (18 | ) | | | (3,250 | ) | | | (2,518 | ) |
| Common stock issued | | | 302 | | | | 234 | | | | 847 | | | | 661 | |
| Common stock repurchased | | | (6,535 | ) | | | (5,206 | ) | | | (13,278 | ) | | | (10,118 | ) |
| Common stock cash dividends paid | | | (4,230 | ) | | | (3,886 | ) | | | (8,086 | ) | | | (7,396 | ) |
| Other, net | | | 79 | | | | (39 | ) | | | (156 | ) | | | 247 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net cash used in financing | | | (13,634 | ) | | | (8,915 | ) | | | (23,923 | ) | | | (19,124 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Investing | | | | | | | | | | | | | | | | |
| Additions to property and equipment | | | (4,174 | ) | | | (3,545 | ) | | | (9,081 | ) | | | (6,930 | ) |
| Acquisition of companies, net of cash acquired, and purchases of intangible and other assets | | | (415 | ) | | | (80 | ) | | | (896 | ) | | | (542 | ) |
| Purchases of investments | | | (15,092 | ) | | | (19,011 | ) | | | (29,672 | ) | | | (42,401 | ) |
| Maturities of investments | | | 15,264 | | | | 11,230 | | | | 29,530 | | | | 30,312 | |
| Sales of investments | | | 2,421 | | | | 5,370 | | | | 4,835 | | | | 11,749 | |
| Other, net | | | 327 | | | | 0 | | | | (1,756 | ) | | | 0 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net cash used in investing | | | (1,669 | ) | | | (6,036 | ) | | | (7,040 | ) | | | (7,812 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Effect of foreign exchange rates on cash and cash equivalents | | | 14 | | | | 18 | | | | (32 | ) | | | (54 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net change in cash and cash equivalents | | | (2,773 | ) | | | (4,253 | ) | | | 856 | | | | (2,492 | ) |
| Cash and cash equivalents, beginning of period | | | 17,205 | | | | 13,117 | | | | 13,576 | | | | 11,356 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Cash and cash equivalents, end of period | | $ | 14,432 | | | $ | 8,864 | | | $ | 14,432 | | | $ | 8,864 | |
| | | | | | | | | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 |
|:----------------------------------------------------|:-----------|:-----------|:-------------------------------|:-----------|:-----------|:-----------|:-----------------------------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| (In millions, except per share amounts) (Unaudited) | | | Three Months EndedDecember 31, | | | | Six Months EndedDecember 31, | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | | 2020 | | | | 2019 | | | | 2020 | | | | 2019 | |
| | | | | | | | | | | | | | | | | |
| Revenue: | | | | | | | | | | | | | | | | |
| Product | | $ | 19,460 | | | $ | 18,255 | | | $ | 35,263 | | | $ | 34,023 | |
| Service and other | | | 23,616 | | | | 18,651 | | | | 44,967 | | | | 35,938 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Total revenue | | | 43,076 | | | | 36,906 | | | | 80,230 | | | | 69,961 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Cost of revenue: | | | | | | | | | | | | | | | | |
| Product | | | 6,058 | | | | 4,966 | | | | 9,655 | | | | 8,271 | |
| Service and other | | | 8,136 | | | | 7,392 | | | | 15,541 | | | | 14,493 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Total cost of revenue | | | 14,194 | | | | 12,358 | | | | 25,196 | | | | 22,764 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Gross margin | | | 28,882 | | | | 24,548 | | | | 55,034 | | | | 47,197 | |
| Research and development | | | 4,899 | | | | 4,603 | | | | 9,825 | | | | 9,168 | |
| Sales and marketing | | | 4,947 | | | | 4,933 | | | | 9,178 | | | | 9,270 | |
| General and administrative | | | 1,139 | | | | 1,121 | | | | 2,258 | | | | 2,182 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Operating income | | | 17,897 | | | | 13,891 | | | | 33,773 | | | | 26,577 | |
| Other income, net | | | 440 | | | | 194 | | | | 688 | | | | 194 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Income before income taxes | | | 18,337 | | | | 14,085 | | | | 34,461 | | | | 26,771 | |
| Provision for income taxes | | | 2,874 | | | | 2,436 | | | | 5,105 | | | | 4,444 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net income | | $ | 15,463 | | | $ | 11,649 | | | $ | 29,356 | | | $ | 22,327 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Earnings per share: | | | | | | | | | | | | | | | | |
| Basic | | $ | 2.05 | | | $ | 1.53 | | | $ | 3.88 | | | $ | 2.93 | |
| Diluted | | $ | 2.03 | | | $ | 1.51 | | | $ | 3.85 | | | $ | 2.90 | |
| | | | | | | | | | | | | | | | | |
| Weighted average shares outstanding: | | | | | | | | | | | | | | | | |
| Basic | | | 7,555 | | | | 7,621 | | | | 7,561 | | | | 7,628 | |
| Diluted | | | 7,616 | | | | 7,691 | | | | 7,627 | | | | 7,701 | |
| | | | | | | | | | | | | | | | | |
---
English News:
"""Medable Inc. has appointed Parag Vaish as Chief Product Officer, leveraging his extensive experience in product innovation from roles at Tesla, Epocrates, and StubHub. Vaish's expertise in creating intuitive and frictionless user experiences aligns with Medable's mission to transform the clinical trial process for patients and clinicians. Medable has demonstrated significant growth, with a 400% revenue increase in 2020 and $118 million in new funding, driven by the launch of five new products and the acquisition of 50 new clients. The company's digital platform aims to streamline decentralized clinical trials, enhancing patient access and retention while accelerating trial execution. This strategic hire and Medable's robust growth trajectory suggest a strong potential for continued innovation and market expansion in the healthcare technology sector. (Sentiment: positive)"", ""The Ireland Data Center Market is projected to grow at a CAGR of 6.7% from 2020 to 2025, driven by increased hyperscale investments and the implementation of GDPR, which has boosted data traffic. Dublin has become a cloud computing hub with major players like Microsoft, Google, AWS, and IBM, and connectivity to cloud service providers is crucial for colocation providers. Microsoft has expanded its data center campus by acquiring 20 acres in Grange Castle, indicating significant investment in the region. The market is moderately competitive, with key players adopting strategies like partnerships and mergers to enhance their market positions. The COVID-19 pandemic has had a moderate impact on construction projects, but future projects may face more significant challenges. (Sentiment: positive)"", ""Attabotics and FoodX Technologies have partnered to offer a comprehensive micro-fulfillment solution for the grocery e-commerce market, leveraging Microsoft's Azure platform. This joint solution aims to provide significant cost savings, increased delivery speed, and improved unit economics for retailers by combining Attabotics' 3D robotics system with FoodX's eGrocery software. The use of Microsoft Azure Private Edge Zones, Azure Stack Edge, and Azure Sphere will enhance the digital supply chain with advanced data and AI capabilities. This partnership is expected to capitalize on the growing e-commerce market, particularly in the wake of the COVID-19 pandemic, by enabling more efficient and sustainable fulfillment operations. The collaboration underscores Microsoft's strategic role in transforming supply chain logistics and could drive further adoption of Azure services in the retail sector. (Sentiment: positive)"", ""Illusive has launched an automated detection and response partner ecosystem program, integrating with Microsoft Azure Sentinel and Azure Active Directory to enhance cybersecurity measures. This collaboration aims to fill the market gap in automated threat detection by continuously identifying and removing risky credentials, thus preventing lateral movement by attackers. Illusive's integration with Azure Sentinel provides custom dashboards for immediate action on threats, while Azure Active Directory benefits from continuous credential hygiene. The partnership with Microsoft enhances the security stack, offering comprehensive protection against emerging threats. This development could strengthen Microsoft's position in the cybersecurity market, potentially making it a more attractive investment. (Sentiment: positive)"", ""Mobilize.Net has partnered with Infragistics to develop automated migration tools for Silverlight, facilitating the transition to Angular and HTML, which could benefit Microsoft's ecosystem by reducing technical debt and modernizing legacy applications. The release of a free migration assessment tool for Silverlight by Mobilize.Net provides detailed inventories and modernization insights, potentially increasing the adoption of Microsoft's cloud and web platforms. Mobilize.Net's technology, already favored by Snowflake and Microsoft customers, underscores its reliability and effectiveness in large-scale code modernization. This partnership aligns with Microsoft's strategic focus on cloud and web services, potentially driving further growth and customer retention. The collaboration highlights the ongoing demand for tools that enhance developer productivity and modernize legacy systems, which could positively impact Microsoft's market position. (Sentiment: positive)"", ""SAS is launching a series of global hackathons, starting with the #HackinSAS event in March, to foster innovation using advanced analytics, AI, and cloud technologies. These hackathons will leverage the SAS Viya analytics platform running on Microsoft Azure, highlighting a strategic partnership between SAS and Microsoft. Participants, including SAS customers, technology partners, independent developers, students, and startups, will collaborate to solve significant business and humanitarian challenges. The initiative aims to create viable applications and products that SAS will help develop and commercialize, potentially driving demand for Microsoft's Azure services. This collaboration underscores Microsoft's commitment to supporting innovative solutions and expanding its cloud platform's reach. (Sentiment: positive)"", ""The global automotive cloud market is projected to grow significantly by 2025, driven by increasing connected vehicles, demand for IoT and 5G communication, and changing consumer preferences towards advanced vehicle applications. The infotainment segment is expected to dominate the market, with passenger vehicles leading in terms of value. Key players in the market include Microsoft, Amazon Web Services, and other major tech and automotive companies. The report highlights emerging opportunities such as the integration of blockchain and the rise of autonomous and ride-sharing services. Microsoft's involvement in the automotive cloud market positions it well to capitalize on these growth trends and technological advancements. (Sentiment: positive)"", ""Beezy Inc. has successfully deployed its digital workplace solution in Microsoft's Government Community Cloud (GCC) High environment, catering to highly regulated US government agencies and contractors. This deployment allows these organizations to replace outdated intranets with a modern, AI-powered platform that enhances communication and collaboration while ensuring data security. Beezy's solution is fully optimized for mobile and keeps all content and data within the customer's infrastructure, meeting stringent cybersecurity and compliance requirements. This development highlights Microsoft's ability to support advanced, secure digital workplace solutions, potentially increasing its appeal to high-security sectors. The successful integration of Beezy in the GCC High environment could drive further adoption of Microsoft 365 among government and defense contractors, bolstering Microsoft's market position in these sectors. (Sentiment: positive)"", ""Stealth, a Sparton company, has launched the WPC-905, a rugged, fanless, waterproof mini PC designed to meet IP67 environmental specifications, making it highly resistant to liquids, chemicals, dust, and dirt. The WPC-905 features powerful 8th Generation Intel Celeron and Core Processors, solid state drives with optional RAID configurations, and a wide-ranging 9-48VDC power input, suitable for various applications including IoT, industrial, marine, and transportation. It is compatible with Microsoft Windows 10, Server 2019, and Linux, and includes TPM 2.0 for enhanced hardware security. The product is RoHS, CE & FCC, EN50121-3-2, and EN50155 certified, and comes with a standard 2-year warranty, extendable to 3 years. Basic configurations start at $3,195 USD and are now available for shipping. (Sentiment: positive)"", ""Redis Labs has appointed Taimur Rashid as Chief Business Development Officer, leveraging his nearly two decades of experience, including significant roles at Microsoft and Amazon Web Services. Rashid's expertise in cloud hyperscalers and market expansion is expected to drive Redis Labs' growth, particularly in artificial intelligence and cloud-native architectures. His previous role at Microsoft involved leading customer success for Azure Data & AI, indicating strong capabilities in fostering customer adoption and growth. This move could signal increased competition for Microsoft in the cloud and AI sectors, as Redis Labs aims to enhance its market position. Investors in Microsoft should monitor how this leadership change at Redis Labs impacts the competitive landscape in cloud services and AI. (Sentiment: neutral)"", ""Sprinklr's 2021 Customer Care Report, in partnership with Twitter, highlights the increasing importance of robust customer support strategies on Twitter, especially during the global pandemic, which saw a 15% rise in customer care inquiries. The report identifies best practices across 11 industries, with airlines leading in customer care performance. The Sprinklr Care Score, a new metric based on seven indicators, is used to rank brands' customer support quality on Twitter. Microsoft, a client of Sprinklr, can leverage these insights to enhance its customer care strategy on Twitter, potentially boosting customer satisfaction and brand loyalty. This focus on superior customer support could positively impact Microsoft's brand value and customer retention, making it a relevant consideration for investors. (Sentiment: positive)"", ""CloudSphere has appointed Jane Gilson, a former executive at Google and Microsoft, as its new CEO to drive international growth and scale the business amid increasing demand for cloud management and governance solutions. Gilson's extensive experience in scaling multi-billion-dollar divisions and her background in SaaS and cloud customer needs position her well to lead CloudSphere's expansion. Her leadership at Google saw a 66% growth in the emerging market division, and she has managed businesses ranging from $100M to $5B. CloudSphere's strategic partnerships with Microsoft, AWS, and Google Cloud are expected to strengthen under Gilson's leadership, potentially benefiting these tech giants. The company's focus on addressing multicloud governance and security challenges aligns with the growing enterprise adoption of multicloud strategies, a trend that could drive further investment in cloud services. (Sentiment: positive)"", ""Smarty has launched SmartyPlus, a premium subscription service aimed at enhancing online shopping by offering double cashback, free shipping, price protection, and free returns, addressing the increased reliance on online shopping due to the pandemic. Research indicates strong consumer interest, with over 50% of Americans willing to pay for double cashback and significant percentages willing to pay for other benefits like late shipment rebates and guaranteed free returns. The service leverages algorithms to continuously find new benefits and protect online purchases, potentially increasing user satisfaction and retention. Smarty's existing browser extension already supports major retailers like Target, Walmart, and Best Buy, suggesting a robust infrastructure and market presence. This development could influence investment decisions in the e-commerce and tech sectors, including companies like Microsoft, which could benefit from partnerships or integrations with such innovative shopping solutions. (Sentiment: positive)"", ""Veritas Technologies has announced significant updates to its Enterprise Data Services Platform, including the acquisition of HubStor to enhance its enterprise SaaS data protection capabilities. This acquisition leverages Microsoft Azure's global footprint, offering customers improved data sovereignty, replication, and integration with other Azure services. The integration of HubStor's technology into Veritas' platform aims to simplify operations and reduce risks associated with cloud data protection, particularly for SaaS applications like Microsoft 365, Slack, and Box. This move strengthens Veritas' position in the multi-cloud data protection market, which could positively impact Microsoft's cloud services ecosystem. Investors in Microsoft (MSFT) may view this development as a strategic advantage, enhancing the value proposition of Azure and potentially driving increased adoption of Microsoft's cloud services. (Sentiment: positive)"", ""CitiusTech has been named a Leader in Everest Group's Healthcare IT Services Specialists PEAK Matrix Assessment 2021, highlighting its strong focus on digital innovation and healthcare domain expertise. The company's strategic partnerships with major tech players, including Microsoft, IBM, AWS, and GCP, are cited as key strengths. This recognition underscores CitiusTech's ability to drive transformational change across the healthcare value chain, benefiting payers, providers, life sciences, and healthcare technology companies. The acquisition of FluidEdge Consulting has further bolstered its position by enhancing its expertise and presence in the provider and payer segments. For investors in Microsoft, this partnership with a recognized leader in healthcare IT services could signify potential growth opportunities in the healthcare technology sector. (Sentiment: positive)"", ""AV-Comparatives released its 2020 Summary Report for consumer security products, testing 17 programs for protection and performance. Microsoft received a Bronze Award in the Real-World Protection Test, indicating competent protection against internet-borne threats. However, Microsoft did not secure top positions in other categories such as Malware Protection, False-Positives, Performance, or Advanced Threat Protection. Kaspersky was awarded Product of the Year, while Bitdefender and ESET received the Outstanding Security Product Award. Investors should note that while Microsoft’s security product is reliable, it may not be the top choice compared to competitors like Kaspersky, Bitdefender, and ESET. (Sentiment: neutral)"", ""Confluent has announced a strategic alliance with Microsoft, integrating its fully managed Apache Kafka service, Confluent Cloud, directly into the Azure platform. This partnership introduces seamless single sign-on via Azure Active Directory, pre-built connectors, and a unified billing model, simplifying the adoption of real-time event streaming for Azure customers. The integration aims to alleviate the operational complexities of managing Kafka, enabling businesses to build real-time applications more efficiently. This move is expected to enhance Azure's appeal to enterprises seeking scalable, flexible, and agile data streaming solutions. The collaboration underscores Microsoft's commitment to expanding its cloud services ecosystem, potentially driving increased Azure adoption and revenue growth. (Sentiment: positive)"", ""H2O.ai has launched the H2O AI Hybrid Cloud, an end-to-end AI platform that integrates with Microsoft Azure, enabling organizations to build, deploy, and manage AI models across any cloud or on-premises infrastructure. The platform features over 200 data connectors, AutoML capabilities, and machine learning operations technology, which can significantly streamline AI development and deployment processes. H2O AI Hybrid Cloud's integration with Snowflake allows data engineers to build and score AI models using SQL, enhancing productivity and reducing time-to-market for AI solutions. The platform's compatibility with Red Hat OpenShift further supports hybrid and multi-cloud requirements, making it a versatile solution for enterprises. This development positions Microsoft Azure as a key player in the AI and cloud computing space, potentially driving increased adoption and investment in Microsoft's cloud services. (Sentiment: positive)"", ""Tridius Technologies, a Dallas-based technology consulting firm specializing in the Microsoft Stack, has opened a new office in San José, Costa Rica, to leverage the city's technological talent and advantageous time zone. This expansion aims to provide nearshore resources to clients, enhancing their investment returns and IT solutions. The new office will focus on digital transformation, cloud strategy, application development, and managed services, with plans to grow to 15-20 bilingual employees by the end of 2021. Tridius' move to Costa Rica aligns with its long-term strategy to build a world-class nearshore development team, potentially increasing demand for Microsoft technologies. This expansion could positively impact Microsoft's market presence in mid-market sectors such as finance, banking, legal, accounting, healthcare, and entertainment. (Sentiment: positive)"", ""Procede Software, a leading provider of dealer management systems for the heavy-duty truck industry, celebrates its 20th anniversary, attributing its exponential growth to strong customer relationships, partnerships, and a focus on delivering customer value. The company has been a pioneer in technology innovation, utilizing Microsoft SQL Server for unprecedented data access and maintaining a modern user interface. Procede Software's latest advancements include Excede v10.1 and Excede Analytics, and it continues to be a Microsoft Gold Certified Partner, optimizing its software for both on-premise and cloud solutions with Microsoft Azure. The company has received the Best in Biz Award for Enterprise Software Product of the Year for the past two years. Procede Software's commitment to long-term partnerships and customer engagement, along with its robust support and training programs, positions it for continued growth and scalability. (Sentiment: positive)"", ""Arena Analytics has launched the first AI Ethics Advisory Board in the HR technology sector, aiming to address ethical concerns as it deploys advanced AI technologies to reduce bias and optimize workforce management. The board comprises experts from various fields, including HR, academia, technology, and ethics, to provide comprehensive guidance on ethical AI use. Arena's recent advancements in machine learning, particularly in reducing algorithmic bias, position it as a leader in ethical AI application in the labor market. This initiative highlights the growing importance of ethical considerations in AI development, a trend that could influence broader industry practices, including those at major tech firms like Microsoft. Investors should note the increasing emphasis on ethical AI as a potential differentiator and risk mitigator in the technology sector. (Sentiment: positive)"", ""ElectroNeek has appointed Keith Abramson as Global VP of Sales, leveraging his 11 years of experience in early-stage SaaS startups to drive global expansion. Abramson's previous roles in successful companies like Tufin, Darktrace, and Kyriba highlight his capability in executing hypergrowth sales strategies. ElectroNeek, recognized as an RPA Momentum Market Leader by G2, has established significant partnerships with major tech companies, including Microsoft, Oracle, and Nvidia. The company's focus on providing accessible RPA solutions to SMEs positions it well for continued growth in the rapidly expanding RPA sector. This strategic hire and ElectroNeek's strong market position could positively impact its partners, including Microsoft, by driving further adoption and integration of RPA technologies. (Sentiment: positive)"", ""The US Software Defined Data Center (SDDC) market, valued at $14.30 billion in 2019, is projected to reach $50.93 billion by 2027, growing at a CAGR of 17.4%. Key drivers include the rising generation of big data, increased adoption of SDDC in sectors like BFSI, and the shift towards cloud infrastructure due to COVID-19. Microsoft Corporation, as a leading player, is well-positioned to benefit from this growth, given its focus on offering cutting-edge SDDC solutions. The pandemic has accelerated the adoption of remote working and hybrid IT infrastructure, further driving demand for SDDC. Cybersecurity issues remain a potential restraint, but the overall market outlook is positive, with significant opportunities in advanced colocation centers and data center automation. (Sentiment: positive)"", ""Microsoft Corp. announced its fiscal year 2021 second-quarter financial results, which are now available on its Investor Relations website. The company will also host a conference call to discuss these results at 2:30 p.m. Pacific Time, accessible via a live webcast on the same website. Microsoft continues to focus on enabling digital transformation through its intelligent cloud and intelligent edge solutions. Investors can find detailed financial performance metrics and insights by accessing the provided links. This information is crucial for making informed investment decisions regarding Microsoft (Nasdaq: MSFT). (Sentiment: neutral)"" "
Chinese News:
"1月27日，微软公布了2021财年第二财季财报。 根据财报，微软该季度营收为431亿美元，与去年同期的369亿美元相比增长17%，高出此前分析师预期。在按照美国通用会计准则(GAAP)下，微软该季度净利润为155亿美元，与去年同期的116亿美元相比提高33%；在非美国通用会计准则(non-GAAP)下，微软该季度净利润为155亿美元，增长29%。 受财报良好表现，微软股价上涨1.22%收盘价为232.33美元，为一年来最高。 按照部门划分，微软生产力和业务流程部门第四季度营收为134亿美元，与去年同期的118亿美元相比增长13%。 微软第四季度智能云部门的营收为146亿美元，与去年同期的119亿美元相比增长23%。其中，Azure云计算业务营收增长为50%，在连续两个季度增速低于50%之后再次恢复增速，Azure一直是智能云部门营收的最重要驱动力。 微软CFO艾米胡德表示，“对微软差异化产品的需求不断增加，推动商业云计算业务收入达到167亿美元，同比增长34%。我们继续受益于我们在战略性、高增长领域的投资。” 更多个人计算业务营收为151亿美元，与去年同期的132亿美元相比增长14%，其中Xbox内容和服务收入增长了40%。疫情发生后，微软游戏业务一直保持着高增长。在2020年第四财季，Xbox内容和服务收入增长了65%，创下新高。 广告搜索业务营收此前多个季度连续下滑，第一财季营收同比下滑了10%，而在第二财季营收上涨2%，有所恢复。 微软在财报中表示，新冠疫情下确保员工的健康仍然是微软的重点。在2020年10月，微软曾表示将允许部分员工在疫情消退后定期在家办公。微软还表示，如果得到管理人员的批准，一些员工将可以永久远程工作。 此外，在第二财季内微软将旗下搜索引擎Bing改名为Microsoft Bing，作为其重塑品牌举措的一部分。 最近一年，微软除了原有各项业务，在试图拓展新的增长空间，无人驾驶、自研芯片、电竞都是微软计划涉足的领域。 1月20日，微软宣布与通用旗下自动驾驶汽车公司Cruise进行合作，双方将加速无人驾驶汽车的商业化进程。微软同时与其他投资者一起，对Cruise进行了超过20亿美元的投资。 此外，在2020年12月，彭博社报道微软正在为服务器和Surface电脑设计自己的芯片。 同样在2020年12月，电竞平台Smash.gg宣布被微软收购的消息，并表示将继续独立运营。Smash.gg官网显示，目前平台已经支持超过6000个主办方举办赛事。 不过，这项投资的结果还有待观察。2016年微软收购了交互式游戏直播服务 Beam，并改名为Mixer。但微软在2020年6月宣布将关闭Mixer，同时这部分业务收尾与Facebook合作，微软宣布关闭的同时建议游戏玩家和观众“移步”至Facebook的直播网站。"
Japanese News:
"米マイクロソフトは1月26日に、2020年12月末締めの第2四半期決算を公表した。売上は前年同期に比べ17％増加し、市場の予測を上回る好業績となった。新型コロナウイルス感染拡大による世界的なテレワークの普及が追い風となり、クラウド事業が好調を維持したことが要因とみられる。 この発表を受けて、同社株は時間外取引で4％の値上がりを見せた。 同期の総売上高は430億8000万ドルとなり、前年の同じ時期（369億1000万ドル）を約17％上回り、市場アナリストの予測（401億8000万ドル）を超えた。 特に好調だったのは「インテリジェントクラウド」部門で、売上は前年同期比23％増の146億ドルを記録。主力のクラウドサービス「アジュール」は、売上成長率が前四半期の48％から50％へと伸び、市場予想の平均（41.4％）を大きく超える好成績となった。 同社のCFOであるエイミー・フッド氏はロイターの取材に対し、「顧客企業がデジタル化への移行を積極的に進める中、需要が予想を超えるペースで伸びている」と語った。 また、アトランティック・エクイティーズのアナリストであるジェームズ・コードウェル氏は、「昨年はコロナによる景気減速や導入の遅れから、クラウド需要の拡大がアジュールにどれほど寄与するか明らかではなかったが、今回の結果で明確になった」と分析した。 マイクロソフトは法人向けに提供する「オフィス」や「アジュール」などの製品・サービスを「コマーシャルクラウド」として統合的に扱っており、投資家は大型法人顧客への販売動向を測る重要な指標として注視している。この部門の粗利益率は前年同期の67％から71％へ改善した。 パソコン向け基本ソフト「ウィンドウズ」やゲーム機「Xbox」などを含む個人向けコンピューティング部門は、売上が前年同期比14％増の151億ドルとなり、市場予測（135億ドル）を上回った。昨年11月、新型コロナ感染拡大によるゲーム需要を捉えるため、「Xbox Series X」「Xbox Series S」を発売したが、世界的な半導体供給不足により在庫不足となったにもかかわらず、Xboxハードウェアの売上は86％増と大幅に伸びた。 フッド氏は、「供給が需要に追いつかない状況は当面続くと考えている」との見方を示した。 ゲーム関連の収益は四半期として初めて50億ドルを超え、ゲーム機本体だけでなくゲームの定額課金サービスなども好調に推移した結果、Xboxのコンテンツおよびサービスの売上は40％増となった。 さらにビジネス特化型のSNSである「リンクトイン」の売上も前年同期比23％増加した。新型コロナによる経済活動停滞の影響で伸びが鈍化していたものの、広告収入の回復により、コロナ禍前の増収率（24％）に迫る水準まで改善しているとフッド氏は説明した。"
Spanish News:
"Microsoft informó que sus ingresos del trimestre finalizado el 31 de diciembre de 2020 aumentaron 17% en comparación con el trimestre del año fiscal anterior, a 43,100 millones de dólares, según su informe financiero. Antes de la presentación del reporte financiero, las acciones de Microsoft cerraron a 232.33 dólares por acción, registrando un nuevo máximo histórico por primera vez desde septiembre. Las acciones de Microsoft han subido alrededor de un 5% desde principios de 2021. En operaciones tras el cierre del mercado, los títulos avanzan más de 4%. Desarrollar su propia capacidad digital es la nueva moneda que impulsa la resiliencia y el crecimiento de cada organización. Microsoft está impulsando este cambio con la plataforma en la nube más grande y completa del mundo El principal motor de la compañía fue el segmento empresarial Intelligent Cloud de Microsoft, que incluye la nube pública de Azure, productos de servidor como Windows Server, GitHub y servicios empresariales, debido a que los ingresos totalizaron 14,600 millones de dólares. Eso es un 23% más año tras año y por encima del consenso de 13,770 millones de dólares entre los analistas encuestados por FactSet. Los ingresos por productos de servidor y servicios en la nube aumentaron un 26%, impulsados por un crecimiento de los ingresos de Azure del 50%. Los analistas esperaban un crecimiento de alrededor del 42%. La demanda acelerada de nuestras ofertas diferenciadas impulsó los ingresos de la nube comercial a 16,700 mil millones, un 34% más año tras año. Seguimos beneficiándonos de nuestras inversiones en áreas estratégicas de alto crecimiento dijo Amy Hood, vicepresidenta ejecutiva y directora financiera de Microsoft El segmento de computación personal -que contiene Windows, juegos, dispositivos y publicidad de búsqueda- generó 15,120 millones de dólares en ingresos, los cuales aumentaron 14% y superaron la estimación de consenso de FactSet de 13,470 millones de dólares. Los ingresos por contenido y servicios de Xbox aumentaron 40%. La empresa lanzó, durante el trimestre, las consolas Xbox Series X y Series S. Microsoft devolvió 10,000 millones de dólares a los accionistas en forma de recompra de acciones y dividendos en el segundo trimestre del año fiscal 2021, un aumento del 18% en comparación con el segundo trimestre del año fiscal 2020."
Greek News:
"Την σημερινή ημέρα, όλο και περισσότερη ανθρώπινη δραστηριότητα είναι μέσω του διαδικτύου, πράγμα που κάνει τη κυβερνοασφάλεια ιδιαίτερα σημαντική. Έτσι, η Microsoft συνεχίζει την στρατηγική ενδυνάμωσης της στον τομέα της κυβερνοασφάλειας, με τις δραστηριότητες τις στην ασφάλεια να ξεπερνούν τα 10 δισεκατομμύρια δολάρια σε ετήσια έσοδα. Αυτή η αύξηση, αντιστοιχεί σε αύξηση παραπάνω από 40% συγκριτικά με το προηγούμενο έτος. Αυτή η αύξηση αποδίδεται στην αυξημένη υιοθέτηση λογισμικού όπως το Azure Sentinel και το Microsoft Defender. Ως αποτέλεσμα αυτής της στρατηγικής, καθημερινά τα συστήματα αυτά μπλοκάρουν δισεκατομμύρια κυβερνοαπειλές, ενώ παραπάνω από 425 εκατομμύρια χρήστες υποστηρίζονται μέσω της πλατφόρμας Azure Active Directory. Μια παράλληλη εξέλιξη είναι οι επενδύσεις στην ελληνική οικονομία. Πρόσφατα, ανακοινώθηκε επένδυση 500 εκατομμυρίων ευρώ για τη δημιουργία τριών Data Centers στην Αττική, με προοπτική λειτουργίας έως το 2025. Η επένδυση αυτή στοχεύει στη μετατροπή της Ελλάδας σε περιφερειακό κόμβο ψηφιακών υπηρεσιών αλλά και την εκπαίδευση 100.000 πολιτών σε διάφορες ψηφιακές δεξιότητες. Η πρωτοβουλία αυτή εντάσσεται στο ευρύτερο πλαίσιο του ψηφιακού μετασχηματισμού της ελληνικής οικονομίας που παρατηρείται τα τελευταία χρόνια. Εκτιμήσεις προβλέπουν ότι ο τεχνολογικός τομέας θα αγγίξει την συνεισφορά 10% στο κρατικό ΑΕΠ την επόμενη δεκαετία, σε σύγκριση με το περίπου 3% σήμερα. Οι αναμενόμενες επιδράσεις περιλαμβάνουν την ενίσχυση της παραγωγικότητας, την προσέλκυση επενδύσεων και τη δημιουργία νέων θέσεων εργασίας στον τομέα της τεχνολογίας."
Question:
What are the company's capital expenditures and their strategic significance from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | What are the company's capital expenditures and their strategic significance from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: 1. Microsoft’s Intelligent Cloud sector had strong growth (up 23% YoY), with Azure revenue alone increasing 50% as the top revenue driver. 2. Gaming Xbox sector revenue surged 40%. 3. Cybersecurity sector (e.g., Microsoft Defender, Azure Sentinel) surpassed $10B annually (up 40% YoY), driven by rising global demand for cyber protection.
Financial Statement Evidence: In the income statement, Microsoft’s revenue reached $43.1B in Q2 FY2021, led by “Service and other” at $23.6B, up from $18.7B in Q2 FY2020, and “Product” revenue at $19.5B, up from $18.3B in Q2 FY2020. |
MSFT_20210427 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 |
|:-------------------------------------------------------------------------------------|:-----------|:--------------|:-----------|:-----------|:-------------|:-----------|:-----------|:-----------|
| (In millions) (Unaudited) | | | | | | | | |
| | | | | | | | | |
| | | | | | | | | |
| | | March 31,2021 | | | June 30,2020 | | | |
| | | | | | | | | |
| Assets | | | | | | | | |
| Current assets: | | | | | | | | |
| Cash and cash equivalents | | $ | 13,702 | | | $ | 13,576 | |
| Short-term investments | | | 111,705 | | | | 122,951 | |
| | | | | | | | | |
| | | | | | | | | |
| Total cash, cash equivalents, and short-term investments | | | 125,407 | | | | 136,527 | |
| Accounts receivable, net of allowance for doubtful accounts of$620and $788 | | | 26,322 | | | | 32,011 | |
| Inventories | | | 2,245 | | | | 1,895 | |
| Other current assets | | | 11,640 | | | | 11,482 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current assets | | | 165,614 | | | | 181,915 | |
| Property and equipment, net of accumulated depreciation of$49,681and $43,197 | | | 54,945 | | | | 44,151 | |
| Operating lease right-of-use assets | | | 10,673 | | | | 8,753 | |
| Equity investments | | | 5,395 | | | | 2,965 | |
| Goodwill | | | 49,698 | | | | 43,351 | |
| Intangible assets, net | | | 8,127 | | | | 7,038 | |
| Other long-term assets | | | 14,427 | | | | 13,138 | |
| | | | | | | | | |
| | | | | | | | | |
| Total assets | | $ | 308,879 | | | $ | 301,311 | |
| | | | | | | | | |
| | | | | | | | | |
| Liabilities and stockholders’ equity | | | | | | | | |
| Current liabilities: | | | | | | | | |
| Accounts payable | | $ | 13,412 | | | $ | 12,530 | |
| Current portion of long-term debt | | | 8,051 | | | | 3,749 | |
| Accrued compensation | | | 8,032 | | | | 7,874 | |
| Short-term income taxes | | | 2,165 | | | | 2,130 | |
| Short-term unearned revenue | | | 30,083 | | | | 36,000 | |
| Other current liabilities | | | 10,450 | | | | 10,027 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current liabilities | | | 72,193 | | | | 72,310 | |
| Long-term debt | | | 50,007 | | | | 59,578 | |
| Long-term income taxes | | | 27,157 | | | | 29,432 | |
| Long-term unearned revenue | | | 2,631 | | | | 3,180 | |
| Deferred income taxes | | | 173 | | | | 204 | |
| Operating lease liabilities | | | 9,272 | | | | 7,671 | |
| Other long-term liabilities | | | 12,941 | | | | 10,632 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities | | | 174,374 | | | | 183,007 | |
| | | | | | | | | |
| | | | | | | | | |
| Commitments and contingencies | | | | | | | | |
| Stockholders’ equity: | | | | | | | | |
| Common stock and paid-in capital – shares authorized24,000; outstanding7,534and7,571 | | | 82,308 | | | | 80,552 | |
| Retained earnings | | | 50,735 | | | | 34,566 | |
| Accumulated other comprehensive income | | | 1,462 | | | | 3,186 | |
| | | | | | | | | |
| | | | | | | | | |
| Total stockholders’ equity | | | 134,505 | | | | 118,304 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities and stockholders’ equity | | $ | 308,879 | | | $ | 301,311 | |
| | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 |
|:---------------------------------------------------------------------------------------------|:-----------|:----------------------------|:-----------|:-----------|:-----------|:---------------------------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| (In millions) (Unaudited) | | Three Months EndedMarch 31, | | | | Nine Months EndedMarch 31, | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | 2021 | | | 2020 | | | | 2021 | | | | 2020 | | | |
| | | | | | | | | | | | | | | | | |
| Operations | | | | | | | | | | | | | | | | |
| Net income | | $ | 15,457 | | | $ | 10,752 | | | $ | 44,813 | | | $ | 33,079 | |
| Adjustments to reconcile net income to net cash from operations: | | | | | | | | | | | | | | | | |
| Depreciation, amortization, and other | | | 2,936 | | | | 3,118 | | | | 8,342 | | | | 9,292 | |
| Stock-based compensation expense | | | 1,525 | | | | 1,338 | | | | 4,547 | | | | 3,940 | |
| Net recognized losses (gains) on investments and derivatives | | | (351 | ) | | | 52 | | | | (833 | ) | | | (140 | ) |
| Deferred income taxes | | | (88 | ) | | | (206 | ) | | | (116 | ) | | | (436 | ) |
| Changes in operating assets and liabilities: | | | | | | | | | | | | | | | | |
| Accounts receivable | | | 290 | | | | 891 | | | | 5,125 | | | | 6,778 | |
| Inventories | | | (329 | ) | | | 181 | | | | (349 | ) | | | 419 | |
| Other current assets | | | 478 | | | | 94 | | | | 1,154 | | | | (179 | ) |
| Other long-term assets | | | (885 | ) | | | 124 | | | | (2,446 | ) | | | (726 | ) |
| Accounts payable | | | 833 | | | | 546 | | | | 1,181 | | | | (8 | ) |
| Unearned revenue | | | (473 | ) | | | (736 | ) | | | (6,764 | ) | | | (6,564 | ) |
| Income taxes | | | 1,074 | | | | 765 | | | | (2,277 | ) | | | (3,042 | ) |
| Other current liabilities | | | 1,590 | | | | 695 | | | | 394 | | | | (1,136 | ) |
| Other long-term liabilities | | | 122 | | | | (110 | ) | | | 1,259 | | | | 725 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net cash from operations | | | 22,179 | | | | 17,504 | | | | 54,030 | | | | 42,002 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Financing | | | | | | | | | | | | | | | | |
| Cash premium on debt exchange | | | (1,754 | ) | | | 0 | | | | (1,754 | ) | | | 0 | |
| Repayments of debt | | | (500 | ) | | | (3,000 | ) | | | (3,750 | ) | | | (5,518 | ) |
| Common stock issued | | | 396 | | | | 342 | | | | 1,243 | | | | 1,003 | |
| Common stock repurchased | | | (6,930 | ) | | | (7,059 | ) | | | (20,208 | ) | | | (17,177 | ) |
| Common stock cash dividends paid | | | (4,221 | ) | | | (3,876 | ) | | | (12,307 | ) | | | (11,272 | ) |
| Other, net | | | (183 | ) | | | (1,052 | ) | | | (339 | ) | | | (805 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net cash used in financing | | | (13,192 | ) | | | (14,645 | ) | | | (37,115 | ) | | | (33,769 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Investing | | | | | | | | | | | | | | | | |
| Additions to property and equipment | | | (5,089 | ) | | | (3,767 | ) | | | (14,170 | ) | | | (10,697 | ) |
| Acquisition of companies, net of cash acquired, and purchases of intangible and other assets | | | (7,512 | ) | | | (329 | ) | | | (8,408 | ) | | | (871 | ) |
| Purchases of investments | | | (18,375 | ) | | | (15,910 | ) | | | (48,047 | ) | | | (58,311 | ) |
| Maturities of investments | | | 15,016 | | | | 17,247 | | | | 44,546 | | | | 47,559 | |
| Sales of investments | | | 5,876 | | | | 2,810 | | | | 10,711 | | | | 14,559 | |
| Other, net | | | 400 | | | | 0 | | | | (1,356 | ) | | | 0 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net cash from (used in) investing | | | (9,684 | ) | | | 51 | | | | (16,724 | ) | | | (7,761 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Effect of foreign exchange rates on cash and cash equivalents | | | (33 | ) | | | (64 | ) | | | (65 | ) | | | (118 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net change in cash and cash equivalents | | | (730 | ) | | | 2,846 | | | | 126 | | | | 354 | |
| Cash and cash equivalents, beginning of period | | | 14,432 | | | | 8,864 | | | | 13,576 | | | | 11,356 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Cash and cash equivalents, end of period | | $ | 13,702 | | | $ | 11,710 | | | $ | 13,702 | | | $ | 11,710 | |
| | | | | | | | | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 |
|:----------------------------------------------------|:-----------|:-----------|:----------------------------|:-----------|:-----------|:-----------|:---------------------------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| (In millions, except per share amounts) (Unaudited) | | | Three Months EndedMarch 31, | | | | Nine Months EndedMarch 31, | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | | 2021 | | | | 2020 | | | | 2021 | | | | 2020 | |
| | | | | | | | | | | | | | | | | |
| Revenue: | | | | | | | | | | | | | | | | |
| Product | | $ | 16,873 | | | $ | 15,871 | | | $ | 52,136 | | | $ | 49,894 | |
| Service and other | | | 24,833 | | | | 19,150 | | | | 69,800 | | | | 55,088 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Total revenue | | | 41,706 | | | | 35,021 | | | | 121,936 | | | | 104,982 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Cost of revenue: | | | | | | | | | | | | | | | | |
| Product | | | 4,277 | | | | 3,376 | | | | 13,932 | | | | 11,647 | |
| Service and other | | | 8,768 | | | | 7,599 | | | | 24,309 | | | | 22,092 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Total cost of revenue | | | 13,045 | | | | 10,975 | | | | 38,241 | | | | 33,739 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Gross margin | | | 28,661 | | | | 24,046 | | | | 83,695 | | | | 71,243 | |
| Research and development | | | 5,204 | | | | 4,887 | | | | 15,029 | | | | 14,055 | |
| Sales and marketing | | | 5,082 | | | | 4,911 | | | | 14,260 | | | | 14,181 | |
| General and administrative | | | 1,327 | | | | 1,273 | | | | 3,585 | | | | 3,455 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Operating income | | | 17,048 | | | | 12,975 | | | | 50,821 | | | | 39,552 | |
| Other income (expense), net | | | 188 | | | | (132 | ) | | | 876 | | | | 62 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Income before income taxes | | | 17,236 | | | | 12,843 | | | | 51,697 | | | | 39,614 | |
| Provision for income taxes | | | 1,779 | | | | 2,091 | | | | 6,884 | | | | 6,535 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net income | | $ | 15,457 | | | $ | 10,752 | | | $ | 44,813 | | | $ | 33,079 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Earnings per share: | | | | | | | | | | | | | | | | |
| Basic | | $ | 2.05 | | | $ | 1.41 | | | $ | 5.93 | | | $ | 4.34 | |
| Diluted | | $ | 2.03 | | | $ | 1.40 | | | $ | 5.88 | | | $ | 4.30 | |
| | | | | | | | | | | | | | | | | |
| Weighted average shares outstanding: | | | | | | | | | | | | | | | | |
| Basic | | | 7,539 | | | | 7,602 | | | | 7,554 | | | | 7,619 | |
| Diluted | | | 7,597 | | | | 7,675 | | | | 7,617 | | | | 7,693 | |
| | | | | | | | | | | | | | | | | |
---
English News:
"Global Public Cloud Storage Management Markets Report 2020-2027 Featuring Alibaba, AWS, AT&T, Google, IBM, Microsoft, Oracle, Rackspace, & Verizon - ResearchAndMarkets.com - DUBLIN--(BUSINESS WIRE)--The "Public Cloud Storage Management - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering. Global Public Cloud Storage Management Market to Reach $25.1 Billion by 2027 Amid the COVID-19 crisis, the global market for Public Cloud Storage Management estimated at US$4.5 Billion in the year 2020, is projected to reach a revised size of US$25.1 Billion by 2027, growing at a CAGR of 27.7% over the period 2020-2027. Large Enterprises, one of the segments analyzed in the report, is projected to record 25.6% CAGR and reach US$13.3 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the SMEs segment is readjusted to a revised 30.6% CAGR for the next 7-year period. The U.S. Market is Estimated at $1.4 Billion, While China is Forecast to Grow at 27.1% CAGR The Public Cloud Storage Management market in the U.S. is estimated at US$1.4 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$4.3 Billion by the year 2027 trailing a CAGR of 27.1% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 24.6% and 24% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 19.7% CAGR. Key Topics Covered: I. METHODOLOGY II. EXECUTIVE SUMMARY 1. MARKET OVERVIEW 2. FOCUS ON SELECT PLAYERS 3. MARKET TRENDS & DRIVERS 4. GLOBAL MARKET PERSPECTIVE III. MARKET ANALYSIS IV. COMPETITION Select Competitors (Total 35 Featured): For more information about this report visit https://www.researchandmarkets.com/r/3o84d6"
Chinese News:
导读 市场热捧高科技，也令人们继续关注业界兼并购的新动向。美国当地时间4月27日盘后，微软、谷歌、AMD(超威半导体)发布今年1-3月的季度业绩。三大公司覆盖高科技软、硬件多种领域，收入均获得双位数增长，反映围绕云、高性能运算、图像处理的科技基建需求旺盛。市场热捧高科技，也令人们继续关注业界兼并购的新动向，其中，微软在过去4个月中已经发起4次市场瞩目的投资动作。据统计，4月以来，高科技板块再度跑赢传统行业板块。月内，美股市值排名前五的FAAMG(Facebook、苹果、亚马逊、微软、谷歌)股价均涨超过10%，纳斯达克指数累涨6.37%。本周后半周，苹果、Facebook、亚马逊、高通等公司也将发布业绩，市场目前预期乐观。微软谷歌发力云基建 季报显示，期内微软收入417.1亿美元，按年增19%；净利润155亿美元，按年增44%。谷歌收入553.14亿美元，按年增34%；净利润179.3亿美元，按年增162%。记者查询市场数据，在市值上，微软和谷歌已分别达到1.98万亿美元、1.55万亿美元，分别排名美股市值第二、第四位；在净利润绝对值上，两公司“赚钱能力”也在全球排名前10位。在如此高的基数上，两公司依然获得双位数乃至三位数的盈利增长，令人感叹科技公司的成长性惊人。最新的季报也反映出，科技公司的高成长故事正在转换主题。在科技时代的上一篇章中，微软和谷歌分别受惠于电脑产品和搜索引擎的成长，而在下一个篇章中，以“云”引领的数字化转型、人工智能、物联网正在逐步成为新的增长点。处于主题转换的交界处，传统业务目前仍是微软和谷歌的盈利支柱。微软方面，PC、笔记本电脑、XBOX游戏机以及Office软件仍然为总收入贡献63.8%；谷歌方面，搜索引擎、广告对收入贡献达到80.8%。上述数字反映，在一季度，由于居家办公、居家娱乐和更多数字化处理的需求出现，人们依然热衷于采购电子产品，并且增加了上网搜索的时间。展望科技成长的下一主题，来自微软和谷歌的高管不约而同地强调了对“云”的重视。业绩显示，微软云期内带来了151.2亿美元收入，而谷歌云带来了40.47亿美元收入。然而，谷歌也同时披露称，云业务仍在季内带来高达9.74亿美元的亏损。微软大手笔投资引人注目 4月以来，微软股价升逾11%，市值正在向2万亿美元进发，并取代亚马逊成为美股市值第二的公司。与此同时，季报显示截至3月末，微软手握现金及等价物、短期投资共1254.07亿美元。在现金和股权出资上的优势，令市场十分关注微软下一步的市场收购。今年以来，微软继续在人工智能领域进行大手笔投资。这些收购主要涉及自然语言处理、工业互联网、自动驾驶领域。最新一起收购计划发生于4月12日，微软在AI自然语言处理方面再发力，宣布已经和Nuance达成最终收购协议。Nuance本身已经上市，在2020年股价暴增147.3%、在今年前4个月股价继续升20.6%，已令市值达到133亿美元，因此微软为此项收购也不得不付出197亿美元的代价。不过，在市场情绪热络的同时，兼并购也会面临更大的价格谈判阻力。市场消息称，微软对Discord的竞购，已经在4月失败。提供线上聊天平台的Discord在游戏界尤其流行，为玩家们提供免费实时通话平台，疫情期间更是获得大量教育、商业领域的采用，因此市场估值节节攀升。在这种情况下，Discord对前途也另有想法，在与包括微软在内的买家谈判的同时，也在寻求未来发行IPO的可能性。市场消息称，微软的出价已经达到100亿美元，但仍然没有打动Discord。历史数据显示，自从1987年以来，微软迄今已经完成了大大小小共计270次收购，平均每年都要收购6家公司，可谓是科技界最喜欢“买买买”的公司之一。微软最为知名的收购对象包括社交网站Linkedin、语音通讯平台Skype、社群协作平台Github、手机制造商诺基亚、5G协作平台Affirmed等等。显然，微软成功的兼并购历史，令市场对其2021年更多的动作充满憧憬。科技“硬件”需求仍旺盛 云、人工智能的大发展，背后的根源动力之一是芯片硬件的性能提升。CPU和GPU知名制造商AMD(超威半导体)的最新季报，就显示了科技“硬件”基建的需求十分旺盛。今年1-3月，AMD收入和净利润分别为34.5亿美元、5.55亿美元，按年增速更是分别达到93%、243%。该公司称，这主要是因为CPU、GPU产品换代升级，令销售单价(average selling price)均有所提升。此外，AMD也认为，“云建设”对硬件设备提出了更高的要求。这表现在企业级别产品收入达到13.5亿美元，按年大涨286%。AMD强调，企业级别的数字化建设对高计算性能、工作量和安全性都有很高的要求。AMD的产品已经用于微软Azure、Oracle云、腾讯云、亚马逊云、谷歌云等多家公有云的主要基建平台上。在GPU领域，AMD与英伟达被认为是目前业界的“双雄”，控制全球市场的大部分出货。值得留意的是，英伟达也在4月12日曾对2-4月的季度表现发出盈利预喜。这反映GPU市场的确在2021年年初迎来了格外火爆的整体市场行情，而绝非单一公司的个别造好。随着一季度业绩发放，AMD顺势提升了对全年的业绩展望。仅三个月前，该公司认为2021财年的全年收入会比2020年增长33%，然而今时今日，该公司认为增幅将达到50%。
Japanese News:
"米マイクロソフトは4月27日、2021年1～3月期（第3四半期）の業績を公表した。同期の売上高は前年の同時期と比べて19％伸び、好調を維持した。クラウドサービスへの旺盛な需要に加え、パソコン出荷台数が四半期としては過去約20年で最も大きく伸びたことが業績を押し上げた。 会社側が発表した資料によれば、同期の売上は約417億ドル（日本円で約4兆5300億円）となり、ブルームバーグが集計した市場予測の平均値である411億ドルを超えた。しかし、市場の予測レンジ上限（419億ドル）には届かなかったことで、発表後の時間外取引では株価が一時2.3％ほど下落した。一部の市場関係者からは、最近の株価の好調を受け、予測をさらに大きく上回ることへの期待が過熱気味だったとの見解も出ている。 マイクロソフトの株価はここ1年で約50％上昇し、企業の時価総額も2兆ドル近くに達している。この背景には、クラウドを軸とした事業変革を進めるサティア・ナデラCEOに対する投資家の高い期待感があるとみられる。 主力のクラウドサービス「アジュール」の売上は前年同期比で50％の増加となり、前の四半期と同水準を保った。アジュールは堅調に業績を伸ばしているものの、アマゾンやグーグルといった競合他社との激しい競争にさらされている。また、世界的な半導体の供給不足が、同社のゲーム機「Xbox」の販売にも影響を与えている。 ウェドブッシュ証券のアナリスト、ダン・アイブス氏は「市場はさらに強力な売上数字を期待していたようだ」と述べたうえで、「ただしアジュールの成長は市場予測を上回っており、マイクロソフトに対して強気な投資家にとっては良い兆候となっている」と分析している。 純利益については155億ドルで、1株あたり利益は2.03ドルとなり、市場予想の1.78ドルを上回る結果となった。 新型コロナウイルスによるパンデミックの影響で、多くの企業がクラウドサービスへの移行を加速させているほか、マイクロソフトが提供するオンライン協業ソフト「オフィス」などへのアップグレードも進展している。そのため、同期のプロダクティビティ＆ビジネスプロセス部門の売上高は、前年同期比15％増の136億ドルを記録した。 エイミー・フード最高財務責任者（CFO）はインタビューで、同社のクラウドサービスは顧客企業からの信頼が高まり、導入期間も長期化していると述べている。 モア・パーソナル・コンピューティング部門も売上が19％伸び、130億ドルとなった。かつて業績を圧迫していたパソコン市場だが、学校や企業でのパソコン更新需要の高まりに支えられ、特に昨年コロナ禍で製造・購入活動が低迷していた時期と比較し、大幅な回復を遂げた。 しかしフードCFOは、世界的な半導体不足の影響で、パソコンおよびXboxの供給に引き続き制約がかかっていると指摘。Xboxの販売台数は前年同期比232％増と大きく伸びたが、在庫状況は依然として逼迫しており、この状況は次の四半期（4～6月）にも続く可能性があるとの見通しを示した。"
Spanish News:
"El gigante del software Microsoft anunció este martes unos beneficios de US$44,813 millones en los nueve primeros meses de su ejercicio fiscal 2021, lo que supone un incremento del 35% respecto al mismo período del ejercicio anterior, gracias al aumento de ventas por la pandemia. La empresa de Redmond (estado de Washington, EE.UU.) ingresó entre julio y marzo US$121,936 millones, por encima de los US$104,982 millones anunciados en marzo de 2020, con el grueso del crecimiento centrado en los servicios. Por su parte, los inversores de Microsoft ganaron durante los pasados nueve meses US$5.93 por título, frente a los US$4.34 que se embolsaron en el tramo equivalente del ejercicio fiscal 2020. Por segmentos de negocio, las áreas de mayor crecimiento para la empresa creadora del sistema operativo Windows fueron la computación en nube -algo que ya viene siendo habitual durante los últimos años- y los videojuegos, una de las industrias más beneficiadas por los cambios en el ocio a raíz del covid-19. Así, Azure, la plataforma de computación en nube de la empresa y competidor de AWS de Amazon, creció un 50% interanual, y Dynamics 365, el software de gestión para empresas muy vinculado a la nube, subió un 45%. El negocio en torno a la videoconsola de Microsoft, Xbox, aumentó un 34%, puesto que con el cierre obligatorio de gran parte de la oferta de ocio fuera del hogar, millones de personas recurrieron a los juegos digitales para pasar el tiempo. Otro producto de la compañía que también experimentó un crecimiento sustancial el pasado año fue la red profesional LinkedIn, cuya facturación se incrementó un 25%. “Tras más de un año de pandemia, la tendencia de adopción digital no se está ralentizando. Al contrario, se acelera, y esto es solo el principio”, indicó al presentar los resultados el consejero delegado de Microsoft, Satya Nadella. Las cuentas de la empresa, sin embargo, quedaron por debajo de lo esperado por los analistas y no terminaron de convencer en Wall Street, donde las acciones de la firma se dejaban un 3.27% hasta los US$253.40 por título en las operaciones electrónicas posteriores al cierre de los parqués."
Greek News:
"Η εταιρία Microsoft έχει σαν στρατηγική της την χρήση της τεχνολογίας ως μοχλό ανάπτυξης στους τομείς των επιχειρησιακών λύσεων και ανάπτυξης εφαρμογών. Στο ετήσιο συνέδριο Build, το οποίο φέτος πραγματοποιήθηκε στο San Franscisco, η εταιρία παρουσίασε νέων υπηρεσιών οι οποίες έχουν ως σκοπό την αύξηση του ""Developer Velocity"", δηλαδή της ταχύτητας και αποδοτικότητας των προγραμματιστών στην ανάπτυξη λογισμικού. Κάποιοι από τους κύριους άξονες ανακοινώσεων ήταν το ""Build productively"" και το ""Scale your innovation"". Σε αυτούς τους άξονες εισέρχονται εργαλεία όπως το Visual Studio 2022, τα Windows developer tools αλλά και οι πλατφόρμες όπως το Azure Applied AI και Powerplatform σε συνδυασμό με τεχνολογίες AI όπως το GPT-3. Η Microsoft δίνει έμφαση στη δημιουργία ενός οικοσυστήματος που θα στηρίζει τη ταχεία καινοτομίας, προσφέροντας στους προγραμματιστές σύγχρονες λύσεις για την ανάπτυξη εφαρμογών. Παράλληλα, σύμφωνα με τα οικονομικά αποτελέσματα για το τρίτο τρίμηνο του οικονομικού έτους 2021, η εταιρεία σημείωσε αύξηση 26% στα έσοδα από τα προϊόντα Dynamics και τις υπηρεσίες cloud και Server σε σύγκριση με την αντίστοιχη περίοδο του προηγούμενου έτους. Ξεχωρίζουν η αύξηση 45% στο Dynamics 365 και η ενίσχυση κατά 50% της πλατφόρμας Azure, στοιχεία που καταδεικνύουν τη σταθερά ενισχυόμενη παρουσία της Microsoft στην αγορά των επιχειρησιακών εφαρμογών και των cloud υποδομών."
Question:
Please list the top three focuses on revenue from news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | Please list the top three focuses on revenue from news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Microsoft sustains high profit margins through cloud growth (Azure up 50%), software subscriptions (Office, LinkedIn), and hardware sales (Xbox up 232%). Net income rose to $15.5B, a 44% YoY increase, with diluted EPS at $2.03.
Financial Statement Evidence: Net income is $15.5B, which is up from $10.8B YoY; Diluted earnings per share is $2.03, which was a large increase from 1.40 YoY. |
MSFT_20210427 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 |
|:-------------------------------------------------------------------------------------|:-----------|:--------------|:-----------|:-----------|:-------------|:-----------|:-----------|:-----------|
| (In millions) (Unaudited) | | | | | | | | |
| | | | | | | | | |
| | | | | | | | | |
| | | March 31,2021 | | | June 30,2020 | | | |
| | | | | | | | | |
| Assets | | | | | | | | |
| Current assets: | | | | | | | | |
| Cash and cash equivalents | | $ | 13,702 | | | $ | 13,576 | |
| Short-term investments | | | 111,705 | | | | 122,951 | |
| | | | | | | | | |
| | | | | | | | | |
| Total cash, cash equivalents, and short-term investments | | | 125,407 | | | | 136,527 | |
| Accounts receivable, net of allowance for doubtful accounts of$620and $788 | | | 26,322 | | | | 32,011 | |
| Inventories | | | 2,245 | | | | 1,895 | |
| Other current assets | | | 11,640 | | | | 11,482 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current assets | | | 165,614 | | | | 181,915 | |
| Property and equipment, net of accumulated depreciation of$49,681and $43,197 | | | 54,945 | | | | 44,151 | |
| Operating lease right-of-use assets | | | 10,673 | | | | 8,753 | |
| Equity investments | | | 5,395 | | | | 2,965 | |
| Goodwill | | | 49,698 | | | | 43,351 | |
| Intangible assets, net | | | 8,127 | | | | 7,038 | |
| Other long-term assets | | | 14,427 | | | | 13,138 | |
| | | | | | | | | |
| | | | | | | | | |
| Total assets | | $ | 308,879 | | | $ | 301,311 | |
| | | | | | | | | |
| | | | | | | | | |
| Liabilities and stockholders’ equity | | | | | | | | |
| Current liabilities: | | | | | | | | |
| Accounts payable | | $ | 13,412 | | | $ | 12,530 | |
| Current portion of long-term debt | | | 8,051 | | | | 3,749 | |
| Accrued compensation | | | 8,032 | | | | 7,874 | |
| Short-term income taxes | | | 2,165 | | | | 2,130 | |
| Short-term unearned revenue | | | 30,083 | | | | 36,000 | |
| Other current liabilities | | | 10,450 | | | | 10,027 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current liabilities | | | 72,193 | | | | 72,310 | |
| Long-term debt | | | 50,007 | | | | 59,578 | |
| Long-term income taxes | | | 27,157 | | | | 29,432 | |
| Long-term unearned revenue | | | 2,631 | | | | 3,180 | |
| Deferred income taxes | | | 173 | | | | 204 | |
| Operating lease liabilities | | | 9,272 | | | | 7,671 | |
| Other long-term liabilities | | | 12,941 | | | | 10,632 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities | | | 174,374 | | | | 183,007 | |
| | | | | | | | | |
| | | | | | | | | |
| Commitments and contingencies | | | | | | | | |
| Stockholders’ equity: | | | | | | | | |
| Common stock and paid-in capital – shares authorized24,000; outstanding7,534and7,571 | | | 82,308 | | | | 80,552 | |
| Retained earnings | | | 50,735 | | | | 34,566 | |
| Accumulated other comprehensive income | | | 1,462 | | | | 3,186 | |
| | | | | | | | | |
| | | | | | | | | |
| Total stockholders’ equity | | | 134,505 | | | | 118,304 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities and stockholders’ equity | | $ | 308,879 | | | $ | 301,311 | |
| | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 |
|:---------------------------------------------------------------------------------------------|:-----------|:----------------------------|:-----------|:-----------|:-----------|:---------------------------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| (In millions) (Unaudited) | | Three Months EndedMarch 31, | | | | Nine Months EndedMarch 31, | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | 2021 | | | 2020 | | | | 2021 | | | | 2020 | | | |
| | | | | | | | | | | | | | | | | |
| Operations | | | | | | | | | | | | | | | | |
| Net income | | $ | 15,457 | | | $ | 10,752 | | | $ | 44,813 | | | $ | 33,079 | |
| Adjustments to reconcile net income to net cash from operations: | | | | | | | | | | | | | | | | |
| Depreciation, amortization, and other | | | 2,936 | | | | 3,118 | | | | 8,342 | | | | 9,292 | |
| Stock-based compensation expense | | | 1,525 | | | | 1,338 | | | | 4,547 | | | | 3,940 | |
| Net recognized losses (gains) on investments and derivatives | | | (351 | ) | | | 52 | | | | (833 | ) | | | (140 | ) |
| Deferred income taxes | | | (88 | ) | | | (206 | ) | | | (116 | ) | | | (436 | ) |
| Changes in operating assets and liabilities: | | | | | | | | | | | | | | | | |
| Accounts receivable | | | 290 | | | | 891 | | | | 5,125 | | | | 6,778 | |
| Inventories | | | (329 | ) | | | 181 | | | | (349 | ) | | | 419 | |
| Other current assets | | | 478 | | | | 94 | | | | 1,154 | | | | (179 | ) |
| Other long-term assets | | | (885 | ) | | | 124 | | | | (2,446 | ) | | | (726 | ) |
| Accounts payable | | | 833 | | | | 546 | | | | 1,181 | | | | (8 | ) |
| Unearned revenue | | | (473 | ) | | | (736 | ) | | | (6,764 | ) | | | (6,564 | ) |
| Income taxes | | | 1,074 | | | | 765 | | | | (2,277 | ) | | | (3,042 | ) |
| Other current liabilities | | | 1,590 | | | | 695 | | | | 394 | | | | (1,136 | ) |
| Other long-term liabilities | | | 122 | | | | (110 | ) | | | 1,259 | | | | 725 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net cash from operations | | | 22,179 | | | | 17,504 | | | | 54,030 | | | | 42,002 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Financing | | | | | | | | | | | | | | | | |
| Cash premium on debt exchange | | | (1,754 | ) | | | 0 | | | | (1,754 | ) | | | 0 | |
| Repayments of debt | | | (500 | ) | | | (3,000 | ) | | | (3,750 | ) | | | (5,518 | ) |
| Common stock issued | | | 396 | | | | 342 | | | | 1,243 | | | | 1,003 | |
| Common stock repurchased | | | (6,930 | ) | | | (7,059 | ) | | | (20,208 | ) | | | (17,177 | ) |
| Common stock cash dividends paid | | | (4,221 | ) | | | (3,876 | ) | | | (12,307 | ) | | | (11,272 | ) |
| Other, net | | | (183 | ) | | | (1,052 | ) | | | (339 | ) | | | (805 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net cash used in financing | | | (13,192 | ) | | | (14,645 | ) | | | (37,115 | ) | | | (33,769 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Investing | | | | | | | | | | | | | | | | |
| Additions to property and equipment | | | (5,089 | ) | | | (3,767 | ) | | | (14,170 | ) | | | (10,697 | ) |
| Acquisition of companies, net of cash acquired, and purchases of intangible and other assets | | | (7,512 | ) | | | (329 | ) | | | (8,408 | ) | | | (871 | ) |
| Purchases of investments | | | (18,375 | ) | | | (15,910 | ) | | | (48,047 | ) | | | (58,311 | ) |
| Maturities of investments | | | 15,016 | | | | 17,247 | | | | 44,546 | | | | 47,559 | |
| Sales of investments | | | 5,876 | | | | 2,810 | | | | 10,711 | | | | 14,559 | |
| Other, net | | | 400 | | | | 0 | | | | (1,356 | ) | | | 0 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net cash from (used in) investing | | | (9,684 | ) | | | 51 | | | | (16,724 | ) | | | (7,761 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Effect of foreign exchange rates on cash and cash equivalents | | | (33 | ) | | | (64 | ) | | | (65 | ) | | | (118 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net change in cash and cash equivalents | | | (730 | ) | | | 2,846 | | | | 126 | | | | 354 | |
| Cash and cash equivalents, beginning of period | | | 14,432 | | | | 8,864 | | | | 13,576 | | | | 11,356 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Cash and cash equivalents, end of period | | $ | 13,702 | | | $ | 11,710 | | | $ | 13,702 | | | $ | 11,710 | |
| | | | | | | | | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 |
|:----------------------------------------------------|:-----------|:-----------|:----------------------------|:-----------|:-----------|:-----------|:---------------------------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| (In millions, except per share amounts) (Unaudited) | | | Three Months EndedMarch 31, | | | | Nine Months EndedMarch 31, | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | | 2021 | | | | 2020 | | | | 2021 | | | | 2020 | |
| | | | | | | | | | | | | | | | | |
| Revenue: | | | | | | | | | | | | | | | | |
| Product | | $ | 16,873 | | | $ | 15,871 | | | $ | 52,136 | | | $ | 49,894 | |
| Service and other | | | 24,833 | | | | 19,150 | | | | 69,800 | | | | 55,088 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Total revenue | | | 41,706 | | | | 35,021 | | | | 121,936 | | | | 104,982 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Cost of revenue: | | | | | | | | | | | | | | | | |
| Product | | | 4,277 | | | | 3,376 | | | | 13,932 | | | | 11,647 | |
| Service and other | | | 8,768 | | | | 7,599 | | | | 24,309 | | | | 22,092 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Total cost of revenue | | | 13,045 | | | | 10,975 | | | | 38,241 | | | | 33,739 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Gross margin | | | 28,661 | | | | 24,046 | | | | 83,695 | | | | 71,243 | |
| Research and development | | | 5,204 | | | | 4,887 | | | | 15,029 | | | | 14,055 | |
| Sales and marketing | | | 5,082 | | | | 4,911 | | | | 14,260 | | | | 14,181 | |
| General and administrative | | | 1,327 | | | | 1,273 | | | | 3,585 | | | | 3,455 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Operating income | | | 17,048 | | | | 12,975 | | | | 50,821 | | | | 39,552 | |
| Other income (expense), net | | | 188 | | | | (132 | ) | | | 876 | | | | 62 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Income before income taxes | | | 17,236 | | | | 12,843 | | | | 51,697 | | | | 39,614 | |
| Provision for income taxes | | | 1,779 | | | | 2,091 | | | | 6,884 | | | | 6,535 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net income | | $ | 15,457 | | | $ | 10,752 | | | $ | 44,813 | | | $ | 33,079 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Earnings per share: | | | | | | | | | | | | | | | | |
| Basic | | $ | 2.05 | | | $ | 1.41 | | | $ | 5.93 | | | $ | 4.34 | |
| Diluted | | $ | 2.03 | | | $ | 1.40 | | | $ | 5.88 | | | $ | 4.30 | |
| | | | | | | | | | | | | | | | | |
| Weighted average shares outstanding: | | | | | | | | | | | | | | | | |
| Basic | | | 7,539 | | | | 7,602 | | | | 7,554 | | | | 7,619 | |
| Diluted | | | 7,597 | | | | 7,675 | | | | 7,617 | | | | 7,693 | |
| | | | | | | | | | | | | | | | | |
---
English News:
"Global Public Cloud Storage Management Markets Report 2020-2027 Featuring Alibaba, AWS, AT&T, Google, IBM, Microsoft, Oracle, Rackspace, & Verizon - ResearchAndMarkets.com - DUBLIN--(BUSINESS WIRE)--The "Public Cloud Storage Management - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering. Global Public Cloud Storage Management Market to Reach $25.1 Billion by 2027 Amid the COVID-19 crisis, the global market for Public Cloud Storage Management estimated at US$4.5 Billion in the year 2020, is projected to reach a revised size of US$25.1 Billion by 2027, growing at a CAGR of 27.7% over the period 2020-2027. Large Enterprises, one of the segments analyzed in the report, is projected to record 25.6% CAGR and reach US$13.3 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the SMEs segment is readjusted to a revised 30.6% CAGR for the next 7-year period. The U.S. Market is Estimated at $1.4 Billion, While China is Forecast to Grow at 27.1% CAGR The Public Cloud Storage Management market in the U.S. is estimated at US$1.4 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$4.3 Billion by the year 2027 trailing a CAGR of 27.1% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 24.6% and 24% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 19.7% CAGR. Key Topics Covered: I. METHODOLOGY II. EXECUTIVE SUMMARY 1. MARKET OVERVIEW 2. FOCUS ON SELECT PLAYERS 3. MARKET TRENDS & DRIVERS 4. GLOBAL MARKET PERSPECTIVE III. MARKET ANALYSIS IV. COMPETITION Select Competitors (Total 35 Featured): For more information about this report visit https://www.researchandmarkets.com/r/3o84d6"
Chinese News:
导读 市场热捧高科技，也令人们继续关注业界兼并购的新动向。美国当地时间4月27日盘后，微软、谷歌、AMD(超威半导体)发布今年1-3月的季度业绩。三大公司覆盖高科技软、硬件多种领域，收入均获得双位数增长，反映围绕云、高性能运算、图像处理的科技基建需求旺盛。市场热捧高科技，也令人们继续关注业界兼并购的新动向，其中，微软在过去4个月中已经发起4次市场瞩目的投资动作。据统计，4月以来，高科技板块再度跑赢传统行业板块。月内，美股市值排名前五的FAAMG(Facebook、苹果、亚马逊、微软、谷歌)股价均涨超过10%，纳斯达克指数累涨6.37%。本周后半周，苹果、Facebook、亚马逊、高通等公司也将发布业绩，市场目前预期乐观。微软谷歌发力云基建 季报显示，期内微软收入417.1亿美元，按年增19%；净利润155亿美元，按年增44%。谷歌收入553.14亿美元，按年增34%；净利润179.3亿美元，按年增162%。记者查询市场数据，在市值上，微软和谷歌已分别达到1.98万亿美元、1.55万亿美元，分别排名美股市值第二、第四位；在净利润绝对值上，两公司“赚钱能力”也在全球排名前10位。在如此高的基数上，两公司依然获得双位数乃至三位数的盈利增长，令人感叹科技公司的成长性惊人。最新的季报也反映出，科技公司的高成长故事正在转换主题。在科技时代的上一篇章中，微软和谷歌分别受惠于电脑产品和搜索引擎的成长，而在下一个篇章中，以“云”引领的数字化转型、人工智能、物联网正在逐步成为新的增长点。处于主题转换的交界处，传统业务目前仍是微软和谷歌的盈利支柱。微软方面，PC、笔记本电脑、XBOX游戏机以及Office软件仍然为总收入贡献63.8%；谷歌方面，搜索引擎、广告对收入贡献达到80.8%。上述数字反映，在一季度，由于居家办公、居家娱乐和更多数字化处理的需求出现，人们依然热衷于采购电子产品，并且增加了上网搜索的时间。展望科技成长的下一主题，来自微软和谷歌的高管不约而同地强调了对“云”的重视。业绩显示，微软云期内带来了151.2亿美元收入，而谷歌云带来了40.47亿美元收入。然而，谷歌也同时披露称，云业务仍在季内带来高达9.74亿美元的亏损。微软大手笔投资引人注目 4月以来，微软股价升逾11%，市值正在向2万亿美元进发，并取代亚马逊成为美股市值第二的公司。与此同时，季报显示截至3月末，微软手握现金及等价物、短期投资共1254.07亿美元。在现金和股权出资上的优势，令市场十分关注微软下一步的市场收购。今年以来，微软继续在人工智能领域进行大手笔投资。这些收购主要涉及自然语言处理、工业互联网、自动驾驶领域。最新一起收购计划发生于4月12日，微软在AI自然语言处理方面再发力，宣布已经和Nuance达成最终收购协议。Nuance本身已经上市，在2020年股价暴增147.3%、在今年前4个月股价继续升20.6%，已令市值达到133亿美元，因此微软为此项收购也不得不付出197亿美元的代价。不过，在市场情绪热络的同时，兼并购也会面临更大的价格谈判阻力。市场消息称，微软对Discord的竞购，已经在4月失败。提供线上聊天平台的Discord在游戏界尤其流行，为玩家们提供免费实时通话平台，疫情期间更是获得大量教育、商业领域的采用，因此市场估值节节攀升。在这种情况下，Discord对前途也另有想法，在与包括微软在内的买家谈判的同时，也在寻求未来发行IPO的可能性。市场消息称，微软的出价已经达到100亿美元，但仍然没有打动Discord。历史数据显示，自从1987年以来，微软迄今已经完成了大大小小共计270次收购，平均每年都要收购6家公司，可谓是科技界最喜欢“买买买”的公司之一。微软最为知名的收购对象包括社交网站Linkedin、语音通讯平台Skype、社群协作平台Github、手机制造商诺基亚、5G协作平台Affirmed等等。显然，微软成功的兼并购历史，令市场对其2021年更多的动作充满憧憬。科技“硬件”需求仍旺盛 云、人工智能的大发展，背后的根源动力之一是芯片硬件的性能提升。CPU和GPU知名制造商AMD(超威半导体)的最新季报，就显示了科技“硬件”基建的需求十分旺盛。今年1-3月，AMD收入和净利润分别为34.5亿美元、5.55亿美元，按年增速更是分别达到93%、243%。该公司称，这主要是因为CPU、GPU产品换代升级，令销售单价(average selling price)均有所提升。此外，AMD也认为，“云建设”对硬件设备提出了更高的要求。这表现在企业级别产品收入达到13.5亿美元，按年大涨286%。AMD强调，企业级别的数字化建设对高计算性能、工作量和安全性都有很高的要求。AMD的产品已经用于微软Azure、Oracle云、腾讯云、亚马逊云、谷歌云等多家公有云的主要基建平台上。在GPU领域，AMD与英伟达被认为是目前业界的“双雄”，控制全球市场的大部分出货。值得留意的是，英伟达也在4月12日曾对2-4月的季度表现发出盈利预喜。这反映GPU市场的确在2021年年初迎来了格外火爆的整体市场行情，而绝非单一公司的个别造好。随着一季度业绩发放，AMD顺势提升了对全年的业绩展望。仅三个月前，该公司认为2021财年的全年收入会比2020年增长33%，然而今时今日，该公司认为增幅将达到50%。
Japanese News:
"米マイクロソフトは4月27日、2021年1～3月期（第3四半期）の業績を公表した。同期の売上高は前年の同時期と比べて19％伸び、好調を維持した。クラウドサービスへの旺盛な需要に加え、パソコン出荷台数が四半期としては過去約20年で最も大きく伸びたことが業績を押し上げた。 会社側が発表した資料によれば、同期の売上は約417億ドル（日本円で約4兆5300億円）となり、ブルームバーグが集計した市場予測の平均値である411億ドルを超えた。しかし、市場の予測レンジ上限（419億ドル）には届かなかったことで、発表後の時間外取引では株価が一時2.3％ほど下落した。一部の市場関係者からは、最近の株価の好調を受け、予測をさらに大きく上回ることへの期待が過熱気味だったとの見解も出ている。 マイクロソフトの株価はここ1年で約50％上昇し、企業の時価総額も2兆ドル近くに達している。この背景には、クラウドを軸とした事業変革を進めるサティア・ナデラCEOに対する投資家の高い期待感があるとみられる。 主力のクラウドサービス「アジュール」の売上は前年同期比で50％の増加となり、前の四半期と同水準を保った。アジュールは堅調に業績を伸ばしているものの、アマゾンやグーグルといった競合他社との激しい競争にさらされている。また、世界的な半導体の供給不足が、同社のゲーム機「Xbox」の販売にも影響を与えている。 ウェドブッシュ証券のアナリスト、ダン・アイブス氏は「市場はさらに強力な売上数字を期待していたようだ」と述べたうえで、「ただしアジュールの成長は市場予測を上回っており、マイクロソフトに対して強気な投資家にとっては良い兆候となっている」と分析している。 純利益については155億ドルで、1株あたり利益は2.03ドルとなり、市場予想の1.78ドルを上回る結果となった。 新型コロナウイルスによるパンデミックの影響で、多くの企業がクラウドサービスへの移行を加速させているほか、マイクロソフトが提供するオンライン協業ソフト「オフィス」などへのアップグレードも進展している。そのため、同期のプロダクティビティ＆ビジネスプロセス部門の売上高は、前年同期比15％増の136億ドルを記録した。 エイミー・フード最高財務責任者（CFO）はインタビューで、同社のクラウドサービスは顧客企業からの信頼が高まり、導入期間も長期化していると述べている。 モア・パーソナル・コンピューティング部門も売上が19％伸び、130億ドルとなった。かつて業績を圧迫していたパソコン市場だが、学校や企業でのパソコン更新需要の高まりに支えられ、特に昨年コロナ禍で製造・購入活動が低迷していた時期と比較し、大幅な回復を遂げた。 しかしフードCFOは、世界的な半導体不足の影響で、パソコンおよびXboxの供給に引き続き制約がかかっていると指摘。Xboxの販売台数は前年同期比232％増と大きく伸びたが、在庫状況は依然として逼迫しており、この状況は次の四半期（4～6月）にも続く可能性があるとの見通しを示した。"
Spanish News:
"El gigante del software Microsoft anunció este martes unos beneficios de US$44,813 millones en los nueve primeros meses de su ejercicio fiscal 2021, lo que supone un incremento del 35% respecto al mismo período del ejercicio anterior, gracias al aumento de ventas por la pandemia. La empresa de Redmond (estado de Washington, EE.UU.) ingresó entre julio y marzo US$121,936 millones, por encima de los US$104,982 millones anunciados en marzo de 2020, con el grueso del crecimiento centrado en los servicios. Por su parte, los inversores de Microsoft ganaron durante los pasados nueve meses US$5.93 por título, frente a los US$4.34 que se embolsaron en el tramo equivalente del ejercicio fiscal 2020. Por segmentos de negocio, las áreas de mayor crecimiento para la empresa creadora del sistema operativo Windows fueron la computación en nube -algo que ya viene siendo habitual durante los últimos años- y los videojuegos, una de las industrias más beneficiadas por los cambios en el ocio a raíz del covid-19. Así, Azure, la plataforma de computación en nube de la empresa y competidor de AWS de Amazon, creció un 50% interanual, y Dynamics 365, el software de gestión para empresas muy vinculado a la nube, subió un 45%. El negocio en torno a la videoconsola de Microsoft, Xbox, aumentó un 34%, puesto que con el cierre obligatorio de gran parte de la oferta de ocio fuera del hogar, millones de personas recurrieron a los juegos digitales para pasar el tiempo. Otro producto de la compañía que también experimentó un crecimiento sustancial el pasado año fue la red profesional LinkedIn, cuya facturación se incrementó un 25%. “Tras más de un año de pandemia, la tendencia de adopción digital no se está ralentizando. Al contrario, se acelera, y esto es solo el principio”, indicó al presentar los resultados el consejero delegado de Microsoft, Satya Nadella. Las cuentas de la empresa, sin embargo, quedaron por debajo de lo esperado por los analistas y no terminaron de convencer en Wall Street, donde las acciones de la firma se dejaban un 3.27% hasta los US$253.40 por título en las operaciones electrónicas posteriores al cierre de los parqués."
Greek News:
"Η εταιρία Microsoft έχει σαν στρατηγική της την χρήση της τεχνολογίας ως μοχλό ανάπτυξης στους τομείς των επιχειρησιακών λύσεων και ανάπτυξης εφαρμογών. Στο ετήσιο συνέδριο Build, το οποίο φέτος πραγματοποιήθηκε στο San Franscisco, η εταιρία παρουσίασε νέων υπηρεσιών οι οποίες έχουν ως σκοπό την αύξηση του ""Developer Velocity"", δηλαδή της ταχύτητας και αποδοτικότητας των προγραμματιστών στην ανάπτυξη λογισμικού. Κάποιοι από τους κύριους άξονες ανακοινώσεων ήταν το ""Build productively"" και το ""Scale your innovation"". Σε αυτούς τους άξονες εισέρχονται εργαλεία όπως το Visual Studio 2022, τα Windows developer tools αλλά και οι πλατφόρμες όπως το Azure Applied AI και Powerplatform σε συνδυασμό με τεχνολογίες AI όπως το GPT-3. Η Microsoft δίνει έμφαση στη δημιουργία ενός οικοσυστήματος που θα στηρίζει τη ταχεία καινοτομίας, προσφέροντας στους προγραμματιστές σύγχρονες λύσεις για την ανάπτυξη εφαρμογών. Παράλληλα, σύμφωνα με τα οικονομικά αποτελέσματα για το τρίτο τρίμηνο του οικονομικού έτους 2021, η εταιρεία σημείωσε αύξηση 26% στα έσοδα από τα προϊόντα Dynamics και τις υπηρεσίες cloud και Server σε σύγκριση με την αντίστοιχη περίοδο του προηγούμενου έτους. Ξεχωρίζουν η αύξηση 45% στο Dynamics 365 και η ενίσχυση κατά 50% της πλατφόρμας Azure, στοιχεία που καταδεικνύουν τη σταθερά ενισχυόμενη παρουσία της Microsoft στην αγορά των επιχειρησιακών εφαρμογών και των cloud υποδομών."
Question:
How is the company allocating capital (e.g., investments, share repurchases, dividends) based on its performance and market outlook from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | How is the company allocating capital (e.g., investments, share repurchases, dividends) based on its performance and market outlook from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Microsoft continues large capital expenditures to support cloud infrastructure growth and AI capabilities. This includes data centers and acquisitions like Nuance. CapEx reached $5.1B in Q1 2021, aligned with strategic expansion in Azure and enterprise AI.
Financial Statement Evidence:Additions to property and equipment: $5.1B |
MSFT_20210427 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 |
|:-------------------------------------------------------------------------------------|:-----------|:--------------|:-----------|:-----------|:-------------|:-----------|:-----------|:-----------|
| (In millions) (Unaudited) | | | | | | | | |
| | | | | | | | | |
| | | | | | | | | |
| | | March 31,2021 | | | June 30,2020 | | | |
| | | | | | | | | |
| Assets | | | | | | | | |
| Current assets: | | | | | | | | |
| Cash and cash equivalents | | $ | 13,702 | | | $ | 13,576 | |
| Short-term investments | | | 111,705 | | | | 122,951 | |
| | | | | | | | | |
| | | | | | | | | |
| Total cash, cash equivalents, and short-term investments | | | 125,407 | | | | 136,527 | |
| Accounts receivable, net of allowance for doubtful accounts of$620and $788 | | | 26,322 | | | | 32,011 | |
| Inventories | | | 2,245 | | | | 1,895 | |
| Other current assets | | | 11,640 | | | | 11,482 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current assets | | | 165,614 | | | | 181,915 | |
| Property and equipment, net of accumulated depreciation of$49,681and $43,197 | | | 54,945 | | | | 44,151 | |
| Operating lease right-of-use assets | | | 10,673 | | | | 8,753 | |
| Equity investments | | | 5,395 | | | | 2,965 | |
| Goodwill | | | 49,698 | | | | 43,351 | |
| Intangible assets, net | | | 8,127 | | | | 7,038 | |
| Other long-term assets | | | 14,427 | | | | 13,138 | |
| | | | | | | | | |
| | | | | | | | | |
| Total assets | | $ | 308,879 | | | $ | 301,311 | |
| | | | | | | | | |
| | | | | | | | | |
| Liabilities and stockholders’ equity | | | | | | | | |
| Current liabilities: | | | | | | | | |
| Accounts payable | | $ | 13,412 | | | $ | 12,530 | |
| Current portion of long-term debt | | | 8,051 | | | | 3,749 | |
| Accrued compensation | | | 8,032 | | | | 7,874 | |
| Short-term income taxes | | | 2,165 | | | | 2,130 | |
| Short-term unearned revenue | | | 30,083 | | | | 36,000 | |
| Other current liabilities | | | 10,450 | | | | 10,027 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current liabilities | | | 72,193 | | | | 72,310 | |
| Long-term debt | | | 50,007 | | | | 59,578 | |
| Long-term income taxes | | | 27,157 | | | | 29,432 | |
| Long-term unearned revenue | | | 2,631 | | | | 3,180 | |
| Deferred income taxes | | | 173 | | | | 204 | |
| Operating lease liabilities | | | 9,272 | | | | 7,671 | |
| Other long-term liabilities | | | 12,941 | | | | 10,632 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities | | | 174,374 | | | | 183,007 | |
| | | | | | | | | |
| | | | | | | | | |
| Commitments and contingencies | | | | | | | | |
| Stockholders’ equity: | | | | | | | | |
| Common stock and paid-in capital – shares authorized24,000; outstanding7,534and7,571 | | | 82,308 | | | | 80,552 | |
| Retained earnings | | | 50,735 | | | | 34,566 | |
| Accumulated other comprehensive income | | | 1,462 | | | | 3,186 | |
| | | | | | | | | |
| | | | | | | | | |
| Total stockholders’ equity | | | 134,505 | | | | 118,304 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities and stockholders’ equity | | $ | 308,879 | | | $ | 301,311 | |
| | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 |
|:---------------------------------------------------------------------------------------------|:-----------|:----------------------------|:-----------|:-----------|:-----------|:---------------------------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| (In millions) (Unaudited) | | Three Months EndedMarch 31, | | | | Nine Months EndedMarch 31, | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | 2021 | | | 2020 | | | | 2021 | | | | 2020 | | | |
| | | | | | | | | | | | | | | | | |
| Operations | | | | | | | | | | | | | | | | |
| Net income | | $ | 15,457 | | | $ | 10,752 | | | $ | 44,813 | | | $ | 33,079 | |
| Adjustments to reconcile net income to net cash from operations: | | | | | | | | | | | | | | | | |
| Depreciation, amortization, and other | | | 2,936 | | | | 3,118 | | | | 8,342 | | | | 9,292 | |
| Stock-based compensation expense | | | 1,525 | | | | 1,338 | | | | 4,547 | | | | 3,940 | |
| Net recognized losses (gains) on investments and derivatives | | | (351 | ) | | | 52 | | | | (833 | ) | | | (140 | ) |
| Deferred income taxes | | | (88 | ) | | | (206 | ) | | | (116 | ) | | | (436 | ) |
| Changes in operating assets and liabilities: | | | | | | | | | | | | | | | | |
| Accounts receivable | | | 290 | | | | 891 | | | | 5,125 | | | | 6,778 | |
| Inventories | | | (329 | ) | | | 181 | | | | (349 | ) | | | 419 | |
| Other current assets | | | 478 | | | | 94 | | | | 1,154 | | | | (179 | ) |
| Other long-term assets | | | (885 | ) | | | 124 | | | | (2,446 | ) | | | (726 | ) |
| Accounts payable | | | 833 | | | | 546 | | | | 1,181 | | | | (8 | ) |
| Unearned revenue | | | (473 | ) | | | (736 | ) | | | (6,764 | ) | | | (6,564 | ) |
| Income taxes | | | 1,074 | | | | 765 | | | | (2,277 | ) | | | (3,042 | ) |
| Other current liabilities | | | 1,590 | | | | 695 | | | | 394 | | | | (1,136 | ) |
| Other long-term liabilities | | | 122 | | | | (110 | ) | | | 1,259 | | | | 725 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net cash from operations | | | 22,179 | | | | 17,504 | | | | 54,030 | | | | 42,002 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Financing | | | | | | | | | | | | | | | | |
| Cash premium on debt exchange | | | (1,754 | ) | | | 0 | | | | (1,754 | ) | | | 0 | |
| Repayments of debt | | | (500 | ) | | | (3,000 | ) | | | (3,750 | ) | | | (5,518 | ) |
| Common stock issued | | | 396 | | | | 342 | | | | 1,243 | | | | 1,003 | |
| Common stock repurchased | | | (6,930 | ) | | | (7,059 | ) | | | (20,208 | ) | | | (17,177 | ) |
| Common stock cash dividends paid | | | (4,221 | ) | | | (3,876 | ) | | | (12,307 | ) | | | (11,272 | ) |
| Other, net | | | (183 | ) | | | (1,052 | ) | | | (339 | ) | | | (805 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net cash used in financing | | | (13,192 | ) | | | (14,645 | ) | | | (37,115 | ) | | | (33,769 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Investing | | | | | | | | | | | | | | | | |
| Additions to property and equipment | | | (5,089 | ) | | | (3,767 | ) | | | (14,170 | ) | | | (10,697 | ) |
| Acquisition of companies, net of cash acquired, and purchases of intangible and other assets | | | (7,512 | ) | | | (329 | ) | | | (8,408 | ) | | | (871 | ) |
| Purchases of investments | | | (18,375 | ) | | | (15,910 | ) | | | (48,047 | ) | | | (58,311 | ) |
| Maturities of investments | | | 15,016 | | | | 17,247 | | | | 44,546 | | | | 47,559 | |
| Sales of investments | | | 5,876 | | | | 2,810 | | | | 10,711 | | | | 14,559 | |
| Other, net | | | 400 | | | | 0 | | | | (1,356 | ) | | | 0 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net cash from (used in) investing | | | (9,684 | ) | | | 51 | | | | (16,724 | ) | | | (7,761 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Effect of foreign exchange rates on cash and cash equivalents | | | (33 | ) | | | (64 | ) | | | (65 | ) | | | (118 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net change in cash and cash equivalents | | | (730 | ) | | | 2,846 | | | | 126 | | | | 354 | |
| Cash and cash equivalents, beginning of period | | | 14,432 | | | | 8,864 | | | | 13,576 | | | | 11,356 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Cash and cash equivalents, end of period | | $ | 13,702 | | | $ | 11,710 | | | $ | 13,702 | | | $ | 11,710 | |
| | | | | | | | | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 |
|:----------------------------------------------------|:-----------|:-----------|:----------------------------|:-----------|:-----------|:-----------|:---------------------------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| (In millions, except per share amounts) (Unaudited) | | | Three Months EndedMarch 31, | | | | Nine Months EndedMarch 31, | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | | 2021 | | | | 2020 | | | | 2021 | | | | 2020 | |
| | | | | | | | | | | | | | | | | |
| Revenue: | | | | | | | | | | | | | | | | |
| Product | | $ | 16,873 | | | $ | 15,871 | | | $ | 52,136 | | | $ | 49,894 | |
| Service and other | | | 24,833 | | | | 19,150 | | | | 69,800 | | | | 55,088 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Total revenue | | | 41,706 | | | | 35,021 | | | | 121,936 | | | | 104,982 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Cost of revenue: | | | | | | | | | | | | | | | | |
| Product | | | 4,277 | | | | 3,376 | | | | 13,932 | | | | 11,647 | |
| Service and other | | | 8,768 | | | | 7,599 | | | | 24,309 | | | | 22,092 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Total cost of revenue | | | 13,045 | | | | 10,975 | | | | 38,241 | | | | 33,739 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Gross margin | | | 28,661 | | | | 24,046 | | | | 83,695 | | | | 71,243 | |
| Research and development | | | 5,204 | | | | 4,887 | | | | 15,029 | | | | 14,055 | |
| Sales and marketing | | | 5,082 | | | | 4,911 | | | | 14,260 | | | | 14,181 | |
| General and administrative | | | 1,327 | | | | 1,273 | | | | 3,585 | | | | 3,455 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Operating income | | | 17,048 | | | | 12,975 | | | | 50,821 | | | | 39,552 | |
| Other income (expense), net | | | 188 | | | | (132 | ) | | | 876 | | | | 62 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Income before income taxes | | | 17,236 | | | | 12,843 | | | | 51,697 | | | | 39,614 | |
| Provision for income taxes | | | 1,779 | | | | 2,091 | | | | 6,884 | | | | 6,535 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net income | | $ | 15,457 | | | $ | 10,752 | | | $ | 44,813 | | | $ | 33,079 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Earnings per share: | | | | | | | | | | | | | | | | |
| Basic | | $ | 2.05 | | | $ | 1.41 | | | $ | 5.93 | | | $ | 4.34 | |
| Diluted | | $ | 2.03 | | | $ | 1.40 | | | $ | 5.88 | | | $ | 4.30 | |
| | | | | | | | | | | | | | | | | |
| Weighted average shares outstanding: | | | | | | | | | | | | | | | | |
| Basic | | | 7,539 | | | | 7,602 | | | | 7,554 | | | | 7,619 | |
| Diluted | | | 7,597 | | | | 7,675 | | | | 7,617 | | | | 7,693 | |
| | | | | | | | | | | | | | | | | |
---
English News:
"Global Public Cloud Storage Management Markets Report 2020-2027 Featuring Alibaba, AWS, AT&T, Google, IBM, Microsoft, Oracle, Rackspace, & Verizon - ResearchAndMarkets.com - DUBLIN--(BUSINESS WIRE)--The "Public Cloud Storage Management - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering. Global Public Cloud Storage Management Market to Reach $25.1 Billion by 2027 Amid the COVID-19 crisis, the global market for Public Cloud Storage Management estimated at US$4.5 Billion in the year 2020, is projected to reach a revised size of US$25.1 Billion by 2027, growing at a CAGR of 27.7% over the period 2020-2027. Large Enterprises, one of the segments analyzed in the report, is projected to record 25.6% CAGR and reach US$13.3 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the SMEs segment is readjusted to a revised 30.6% CAGR for the next 7-year period. The U.S. Market is Estimated at $1.4 Billion, While China is Forecast to Grow at 27.1% CAGR The Public Cloud Storage Management market in the U.S. is estimated at US$1.4 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$4.3 Billion by the year 2027 trailing a CAGR of 27.1% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 24.6% and 24% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 19.7% CAGR. Key Topics Covered: I. METHODOLOGY II. EXECUTIVE SUMMARY 1. MARKET OVERVIEW 2. FOCUS ON SELECT PLAYERS 3. MARKET TRENDS & DRIVERS 4. GLOBAL MARKET PERSPECTIVE III. MARKET ANALYSIS IV. COMPETITION Select Competitors (Total 35 Featured): For more information about this report visit https://www.researchandmarkets.com/r/3o84d6"
Chinese News:
导读 市场热捧高科技，也令人们继续关注业界兼并购的新动向。美国当地时间4月27日盘后，微软、谷歌、AMD(超威半导体)发布今年1-3月的季度业绩。三大公司覆盖高科技软、硬件多种领域，收入均获得双位数增长，反映围绕云、高性能运算、图像处理的科技基建需求旺盛。市场热捧高科技，也令人们继续关注业界兼并购的新动向，其中，微软在过去4个月中已经发起4次市场瞩目的投资动作。据统计，4月以来，高科技板块再度跑赢传统行业板块。月内，美股市值排名前五的FAAMG(Facebook、苹果、亚马逊、微软、谷歌)股价均涨超过10%，纳斯达克指数累涨6.37%。本周后半周，苹果、Facebook、亚马逊、高通等公司也将发布业绩，市场目前预期乐观。微软谷歌发力云基建 季报显示，期内微软收入417.1亿美元，按年增19%；净利润155亿美元，按年增44%。谷歌收入553.14亿美元，按年增34%；净利润179.3亿美元，按年增162%。记者查询市场数据，在市值上，微软和谷歌已分别达到1.98万亿美元、1.55万亿美元，分别排名美股市值第二、第四位；在净利润绝对值上，两公司“赚钱能力”也在全球排名前10位。在如此高的基数上，两公司依然获得双位数乃至三位数的盈利增长，令人感叹科技公司的成长性惊人。最新的季报也反映出，科技公司的高成长故事正在转换主题。在科技时代的上一篇章中，微软和谷歌分别受惠于电脑产品和搜索引擎的成长，而在下一个篇章中，以“云”引领的数字化转型、人工智能、物联网正在逐步成为新的增长点。处于主题转换的交界处，传统业务目前仍是微软和谷歌的盈利支柱。微软方面，PC、笔记本电脑、XBOX游戏机以及Office软件仍然为总收入贡献63.8%；谷歌方面，搜索引擎、广告对收入贡献达到80.8%。上述数字反映，在一季度，由于居家办公、居家娱乐和更多数字化处理的需求出现，人们依然热衷于采购电子产品，并且增加了上网搜索的时间。展望科技成长的下一主题，来自微软和谷歌的高管不约而同地强调了对“云”的重视。业绩显示，微软云期内带来了151.2亿美元收入，而谷歌云带来了40.47亿美元收入。然而，谷歌也同时披露称，云业务仍在季内带来高达9.74亿美元的亏损。微软大手笔投资引人注目 4月以来，微软股价升逾11%，市值正在向2万亿美元进发，并取代亚马逊成为美股市值第二的公司。与此同时，季报显示截至3月末，微软手握现金及等价物、短期投资共1254.07亿美元。在现金和股权出资上的优势，令市场十分关注微软下一步的市场收购。今年以来，微软继续在人工智能领域进行大手笔投资。这些收购主要涉及自然语言处理、工业互联网、自动驾驶领域。最新一起收购计划发生于4月12日，微软在AI自然语言处理方面再发力，宣布已经和Nuance达成最终收购协议。Nuance本身已经上市，在2020年股价暴增147.3%、在今年前4个月股价继续升20.6%，已令市值达到133亿美元，因此微软为此项收购也不得不付出197亿美元的代价。不过，在市场情绪热络的同时，兼并购也会面临更大的价格谈判阻力。市场消息称，微软对Discord的竞购，已经在4月失败。提供线上聊天平台的Discord在游戏界尤其流行，为玩家们提供免费实时通话平台，疫情期间更是获得大量教育、商业领域的采用，因此市场估值节节攀升。在这种情况下，Discord对前途也另有想法，在与包括微软在内的买家谈判的同时，也在寻求未来发行IPO的可能性。市场消息称，微软的出价已经达到100亿美元，但仍然没有打动Discord。历史数据显示，自从1987年以来，微软迄今已经完成了大大小小共计270次收购，平均每年都要收购6家公司，可谓是科技界最喜欢“买买买”的公司之一。微软最为知名的收购对象包括社交网站Linkedin、语音通讯平台Skype、社群协作平台Github、手机制造商诺基亚、5G协作平台Affirmed等等。显然，微软成功的兼并购历史，令市场对其2021年更多的动作充满憧憬。科技“硬件”需求仍旺盛 云、人工智能的大发展，背后的根源动力之一是芯片硬件的性能提升。CPU和GPU知名制造商AMD(超威半导体)的最新季报，就显示了科技“硬件”基建的需求十分旺盛。今年1-3月，AMD收入和净利润分别为34.5亿美元、5.55亿美元，按年增速更是分别达到93%、243%。该公司称，这主要是因为CPU、GPU产品换代升级，令销售单价(average selling price)均有所提升。此外，AMD也认为，“云建设”对硬件设备提出了更高的要求。这表现在企业级别产品收入达到13.5亿美元，按年大涨286%。AMD强调，企业级别的数字化建设对高计算性能、工作量和安全性都有很高的要求。AMD的产品已经用于微软Azure、Oracle云、腾讯云、亚马逊云、谷歌云等多家公有云的主要基建平台上。在GPU领域，AMD与英伟达被认为是目前业界的“双雄”，控制全球市场的大部分出货。值得留意的是，英伟达也在4月12日曾对2-4月的季度表现发出盈利预喜。这反映GPU市场的确在2021年年初迎来了格外火爆的整体市场行情，而绝非单一公司的个别造好。随着一季度业绩发放，AMD顺势提升了对全年的业绩展望。仅三个月前，该公司认为2021财年的全年收入会比2020年增长33%，然而今时今日，该公司认为增幅将达到50%。
Japanese News:
"米マイクロソフトは4月27日、2021年1～3月期（第3四半期）の業績を公表した。同期の売上高は前年の同時期と比べて19％伸び、好調を維持した。クラウドサービスへの旺盛な需要に加え、パソコン出荷台数が四半期としては過去約20年で最も大きく伸びたことが業績を押し上げた。 会社側が発表した資料によれば、同期の売上は約417億ドル（日本円で約4兆5300億円）となり、ブルームバーグが集計した市場予測の平均値である411億ドルを超えた。しかし、市場の予測レンジ上限（419億ドル）には届かなかったことで、発表後の時間外取引では株価が一時2.3％ほど下落した。一部の市場関係者からは、最近の株価の好調を受け、予測をさらに大きく上回ることへの期待が過熱気味だったとの見解も出ている。 マイクロソフトの株価はここ1年で約50％上昇し、企業の時価総額も2兆ドル近くに達している。この背景には、クラウドを軸とした事業変革を進めるサティア・ナデラCEOに対する投資家の高い期待感があるとみられる。 主力のクラウドサービス「アジュール」の売上は前年同期比で50％の増加となり、前の四半期と同水準を保った。アジュールは堅調に業績を伸ばしているものの、アマゾンやグーグルといった競合他社との激しい競争にさらされている。また、世界的な半導体の供給不足が、同社のゲーム機「Xbox」の販売にも影響を与えている。 ウェドブッシュ証券のアナリスト、ダン・アイブス氏は「市場はさらに強力な売上数字を期待していたようだ」と述べたうえで、「ただしアジュールの成長は市場予測を上回っており、マイクロソフトに対して強気な投資家にとっては良い兆候となっている」と分析している。 純利益については155億ドルで、1株あたり利益は2.03ドルとなり、市場予想の1.78ドルを上回る結果となった。 新型コロナウイルスによるパンデミックの影響で、多くの企業がクラウドサービスへの移行を加速させているほか、マイクロソフトが提供するオンライン協業ソフト「オフィス」などへのアップグレードも進展している。そのため、同期のプロダクティビティ＆ビジネスプロセス部門の売上高は、前年同期比15％増の136億ドルを記録した。 エイミー・フード最高財務責任者（CFO）はインタビューで、同社のクラウドサービスは顧客企業からの信頼が高まり、導入期間も長期化していると述べている。 モア・パーソナル・コンピューティング部門も売上が19％伸び、130億ドルとなった。かつて業績を圧迫していたパソコン市場だが、学校や企業でのパソコン更新需要の高まりに支えられ、特に昨年コロナ禍で製造・購入活動が低迷していた時期と比較し、大幅な回復を遂げた。 しかしフードCFOは、世界的な半導体不足の影響で、パソコンおよびXboxの供給に引き続き制約がかかっていると指摘。Xboxの販売台数は前年同期比232％増と大きく伸びたが、在庫状況は依然として逼迫しており、この状況は次の四半期（4～6月）にも続く可能性があるとの見通しを示した。"
Spanish News:
"El gigante del software Microsoft anunció este martes unos beneficios de US$44,813 millones en los nueve primeros meses de su ejercicio fiscal 2021, lo que supone un incremento del 35% respecto al mismo período del ejercicio anterior, gracias al aumento de ventas por la pandemia. La empresa de Redmond (estado de Washington, EE.UU.) ingresó entre julio y marzo US$121,936 millones, por encima de los US$104,982 millones anunciados en marzo de 2020, con el grueso del crecimiento centrado en los servicios. Por su parte, los inversores de Microsoft ganaron durante los pasados nueve meses US$5.93 por título, frente a los US$4.34 que se embolsaron en el tramo equivalente del ejercicio fiscal 2020. Por segmentos de negocio, las áreas de mayor crecimiento para la empresa creadora del sistema operativo Windows fueron la computación en nube -algo que ya viene siendo habitual durante los últimos años- y los videojuegos, una de las industrias más beneficiadas por los cambios en el ocio a raíz del covid-19. Así, Azure, la plataforma de computación en nube de la empresa y competidor de AWS de Amazon, creció un 50% interanual, y Dynamics 365, el software de gestión para empresas muy vinculado a la nube, subió un 45%. El negocio en torno a la videoconsola de Microsoft, Xbox, aumentó un 34%, puesto que con el cierre obligatorio de gran parte de la oferta de ocio fuera del hogar, millones de personas recurrieron a los juegos digitales para pasar el tiempo. Otro producto de la compañía que también experimentó un crecimiento sustancial el pasado año fue la red profesional LinkedIn, cuya facturación se incrementó un 25%. “Tras más de un año de pandemia, la tendencia de adopción digital no se está ralentizando. Al contrario, se acelera, y esto es solo el principio”, indicó al presentar los resultados el consejero delegado de Microsoft, Satya Nadella. Las cuentas de la empresa, sin embargo, quedaron por debajo de lo esperado por los analistas y no terminaron de convencer en Wall Street, donde las acciones de la firma se dejaban un 3.27% hasta los US$253.40 por título en las operaciones electrónicas posteriores al cierre de los parqués."
Greek News:
"Η εταιρία Microsoft έχει σαν στρατηγική της την χρήση της τεχνολογίας ως μοχλό ανάπτυξης στους τομείς των επιχειρησιακών λύσεων και ανάπτυξης εφαρμογών. Στο ετήσιο συνέδριο Build, το οποίο φέτος πραγματοποιήθηκε στο San Franscisco, η εταιρία παρουσίασε νέων υπηρεσιών οι οποίες έχουν ως σκοπό την αύξηση του ""Developer Velocity"", δηλαδή της ταχύτητας και αποδοτικότητας των προγραμματιστών στην ανάπτυξη λογισμικού. Κάποιοι από τους κύριους άξονες ανακοινώσεων ήταν το ""Build productively"" και το ""Scale your innovation"". Σε αυτούς τους άξονες εισέρχονται εργαλεία όπως το Visual Studio 2022, τα Windows developer tools αλλά και οι πλατφόρμες όπως το Azure Applied AI και Powerplatform σε συνδυασμό με τεχνολογίες AI όπως το GPT-3. Η Microsoft δίνει έμφαση στη δημιουργία ενός οικοσυστήματος που θα στηρίζει τη ταχεία καινοτομίας, προσφέροντας στους προγραμματιστές σύγχρονες λύσεις για την ανάπτυξη εφαρμογών. Παράλληλα, σύμφωνα με τα οικονομικά αποτελέσματα για το τρίτο τρίμηνο του οικονομικού έτους 2021, η εταιρεία σημείωσε αύξηση 26% στα έσοδα από τα προϊόντα Dynamics και τις υπηρεσίες cloud και Server σε σύγκριση με την αντίστοιχη περίοδο του προηγούμενου έτους. Ξεχωρίζουν η αύξηση 45% στο Dynamics 365 και η ενίσχυση κατά 50% της πλατφόρμας Azure, στοιχεία που καταδεικνύουν τη σταθερά ενισχυόμενη παρουσία της Microsoft στην αγορά των επιχειρησιακών εφαρμογών και των cloud υποδομών."
Question:
What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Microsoft had $165.6B in total current assets, with a liability-to-equity ratio of approximately 1.3, indicating a strong liquidity position and moderate leverage.
News Evidence:
"微软手握现金及等价物、短期投资共1254.07亿美元" |
MSFT_20210427 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 |
|:-------------------------------------------------------------------------------------|:-----------|:--------------|:-----------|:-----------|:-------------|:-----------|:-----------|:-----------|
| (In millions) (Unaudited) | | | | | | | | |
| | | | | | | | | |
| | | | | | | | | |
| | | March 31,2021 | | | June 30,2020 | | | |
| | | | | | | | | |
| Assets | | | | | | | | |
| Current assets: | | | | | | | | |
| Cash and cash equivalents | | $ | 13,702 | | | $ | 13,576 | |
| Short-term investments | | | 111,705 | | | | 122,951 | |
| | | | | | | | | |
| | | | | | | | | |
| Total cash, cash equivalents, and short-term investments | | | 125,407 | | | | 136,527 | |
| Accounts receivable, net of allowance for doubtful accounts of$620and $788 | | | 26,322 | | | | 32,011 | |
| Inventories | | | 2,245 | | | | 1,895 | |
| Other current assets | | | 11,640 | | | | 11,482 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current assets | | | 165,614 | | | | 181,915 | |
| Property and equipment, net of accumulated depreciation of$49,681and $43,197 | | | 54,945 | | | | 44,151 | |
| Operating lease right-of-use assets | | | 10,673 | | | | 8,753 | |
| Equity investments | | | 5,395 | | | | 2,965 | |
| Goodwill | | | 49,698 | | | | 43,351 | |
| Intangible assets, net | | | 8,127 | | | | 7,038 | |
| Other long-term assets | | | 14,427 | | | | 13,138 | |
| | | | | | | | | |
| | | | | | | | | |
| Total assets | | $ | 308,879 | | | $ | 301,311 | |
| | | | | | | | | |
| | | | | | | | | |
| Liabilities and stockholders’ equity | | | | | | | | |
| Current liabilities: | | | | | | | | |
| Accounts payable | | $ | 13,412 | | | $ | 12,530 | |
| Current portion of long-term debt | | | 8,051 | | | | 3,749 | |
| Accrued compensation | | | 8,032 | | | | 7,874 | |
| Short-term income taxes | | | 2,165 | | | | 2,130 | |
| Short-term unearned revenue | | | 30,083 | | | | 36,000 | |
| Other current liabilities | | | 10,450 | | | | 10,027 | |
| | | | | | | | | |
| | | | | | | | | |
| Total current liabilities | | | 72,193 | | | | 72,310 | |
| Long-term debt | | | 50,007 | | | | 59,578 | |
| Long-term income taxes | | | 27,157 | | | | 29,432 | |
| Long-term unearned revenue | | | 2,631 | | | | 3,180 | |
| Deferred income taxes | | | 173 | | | | 204 | |
| Operating lease liabilities | | | 9,272 | | | | 7,671 | |
| Other long-term liabilities | | | 12,941 | | | | 10,632 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities | | | 174,374 | | | | 183,007 | |
| | | | | | | | | |
| | | | | | | | | |
| Commitments and contingencies | | | | | | | | |
| Stockholders’ equity: | | | | | | | | |
| Common stock and paid-in capital – shares authorized24,000; outstanding7,534and7,571 | | | 82,308 | | | | 80,552 | |
| Retained earnings | | | 50,735 | | | | 34,566 | |
| Accumulated other comprehensive income | | | 1,462 | | | | 3,186 | |
| | | | | | | | | |
| | | | | | | | | |
| Total stockholders’ equity | | | 134,505 | | | | 118,304 | |
| | | | | | | | | |
| | | | | | | | | |
| Total liabilities and stockholders’ equity | | $ | 308,879 | | | $ | 301,311 | |
| | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 |
|:---------------------------------------------------------------------------------------------|:-----------|:----------------------------|:-----------|:-----------|:-----------|:---------------------------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| (In millions) (Unaudited) | | Three Months EndedMarch 31, | | | | Nine Months EndedMarch 31, | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | 2021 | | | 2020 | | | | 2021 | | | | 2020 | | | |
| | | | | | | | | | | | | | | | | |
| Operations | | | | | | | | | | | | | | | | |
| Net income | | $ | 15,457 | | | $ | 10,752 | | | $ | 44,813 | | | $ | 33,079 | |
| Adjustments to reconcile net income to net cash from operations: | | | | | | | | | | | | | | | | |
| Depreciation, amortization, and other | | | 2,936 | | | | 3,118 | | | | 8,342 | | | | 9,292 | |
| Stock-based compensation expense | | | 1,525 | | | | 1,338 | | | | 4,547 | | | | 3,940 | |
| Net recognized losses (gains) on investments and derivatives | | | (351 | ) | | | 52 | | | | (833 | ) | | | (140 | ) |
| Deferred income taxes | | | (88 | ) | | | (206 | ) | | | (116 | ) | | | (436 | ) |
| Changes in operating assets and liabilities: | | | | | | | | | | | | | | | | |
| Accounts receivable | | | 290 | | | | 891 | | | | 5,125 | | | | 6,778 | |
| Inventories | | | (329 | ) | | | 181 | | | | (349 | ) | | | 419 | |
| Other current assets | | | 478 | | | | 94 | | | | 1,154 | | | | (179 | ) |
| Other long-term assets | | | (885 | ) | | | 124 | | | | (2,446 | ) | | | (726 | ) |
| Accounts payable | | | 833 | | | | 546 | | | | 1,181 | | | | (8 | ) |
| Unearned revenue | | | (473 | ) | | | (736 | ) | | | (6,764 | ) | | | (6,564 | ) |
| Income taxes | | | 1,074 | | | | 765 | | | | (2,277 | ) | | | (3,042 | ) |
| Other current liabilities | | | 1,590 | | | | 695 | | | | 394 | | | | (1,136 | ) |
| Other long-term liabilities | | | 122 | | | | (110 | ) | | | 1,259 | | | | 725 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net cash from operations | | | 22,179 | | | | 17,504 | | | | 54,030 | | | | 42,002 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Financing | | | | | | | | | | | | | | | | |
| Cash premium on debt exchange | | | (1,754 | ) | | | 0 | | | | (1,754 | ) | | | 0 | |
| Repayments of debt | | | (500 | ) | | | (3,000 | ) | | | (3,750 | ) | | | (5,518 | ) |
| Common stock issued | | | 396 | | | | 342 | | | | 1,243 | | | | 1,003 | |
| Common stock repurchased | | | (6,930 | ) | | | (7,059 | ) | | | (20,208 | ) | | | (17,177 | ) |
| Common stock cash dividends paid | | | (4,221 | ) | | | (3,876 | ) | | | (12,307 | ) | | | (11,272 | ) |
| Other, net | | | (183 | ) | | | (1,052 | ) | | | (339 | ) | | | (805 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net cash used in financing | | | (13,192 | ) | | | (14,645 | ) | | | (37,115 | ) | | | (33,769 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Investing | | | | | | | | | | | | | | | | |
| Additions to property and equipment | | | (5,089 | ) | | | (3,767 | ) | | | (14,170 | ) | | | (10,697 | ) |
| Acquisition of companies, net of cash acquired, and purchases of intangible and other assets | | | (7,512 | ) | | | (329 | ) | | | (8,408 | ) | | | (871 | ) |
| Purchases of investments | | | (18,375 | ) | | | (15,910 | ) | | | (48,047 | ) | | | (58,311 | ) |
| Maturities of investments | | | 15,016 | | | | 17,247 | | | | 44,546 | | | | 47,559 | |
| Sales of investments | | | 5,876 | | | | 2,810 | | | | 10,711 | | | | 14,559 | |
| Other, net | | | 400 | | | | 0 | | | | (1,356 | ) | | | 0 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net cash from (used in) investing | | | (9,684 | ) | | | 51 | | | | (16,724 | ) | | | (7,761 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Effect of foreign exchange rates on cash and cash equivalents | | | (33 | ) | | | (64 | ) | | | (65 | ) | | | (118 | ) |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net change in cash and cash equivalents | | | (730 | ) | | | 2,846 | | | | 126 | | | | 354 | |
| Cash and cash equivalents, beginning of period | | | 14,432 | | | | 8,864 | | | | 13,576 | | | | 11,356 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Cash and cash equivalents, end of period | | $ | 13,702 | | | $ | 11,710 | | | $ | 13,702 | | | $ | 11,710 | |
| | | | | | | | | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 |
|:----------------------------------------------------|:-----------|:-----------|:----------------------------|:-----------|:-----------|:-----------|:---------------------------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| (In millions, except per share amounts) (Unaudited) | | | Three Months EndedMarch 31, | | | | Nine Months EndedMarch 31, | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| | | | 2021 | | | | 2020 | | | | 2021 | | | | 2020 | |
| | | | | | | | | | | | | | | | | |
| Revenue: | | | | | | | | | | | | | | | | |
| Product | | $ | 16,873 | | | $ | 15,871 | | | $ | 52,136 | | | $ | 49,894 | |
| Service and other | | | 24,833 | | | | 19,150 | | | | 69,800 | | | | 55,088 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Total revenue | | | 41,706 | | | | 35,021 | | | | 121,936 | | | | 104,982 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Cost of revenue: | | | | | | | | | | | | | | | | |
| Product | | | 4,277 | | | | 3,376 | | | | 13,932 | | | | 11,647 | |
| Service and other | | | 8,768 | | | | 7,599 | | | | 24,309 | | | | 22,092 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Total cost of revenue | | | 13,045 | | | | 10,975 | | | | 38,241 | | | | 33,739 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Gross margin | | | 28,661 | | | | 24,046 | | | | 83,695 | | | | 71,243 | |
| Research and development | | | 5,204 | | | | 4,887 | | | | 15,029 | | | | 14,055 | |
| Sales and marketing | | | 5,082 | | | | 4,911 | | | | 14,260 | | | | 14,181 | |
| General and administrative | | | 1,327 | | | | 1,273 | | | | 3,585 | | | | 3,455 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Operating income | | | 17,048 | | | | 12,975 | | | | 50,821 | | | | 39,552 | |
| Other income (expense), net | | | 188 | | | | (132 | ) | | | 876 | | | | 62 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Income before income taxes | | | 17,236 | | | | 12,843 | | | | 51,697 | | | | 39,614 | |
| Provision for income taxes | | | 1,779 | | | | 2,091 | | | | 6,884 | | | | 6,535 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Net income | | $ | 15,457 | | | $ | 10,752 | | | $ | 44,813 | | | $ | 33,079 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| Earnings per share: | | | | | | | | | | | | | | | | |
| Basic | | $ | 2.05 | | | $ | 1.41 | | | $ | 5.93 | | | $ | 4.34 | |
| Diluted | | $ | 2.03 | | | $ | 1.40 | | | $ | 5.88 | | | $ | 4.30 | |
| | | | | | | | | | | | | | | | | |
| Weighted average shares outstanding: | | | | | | | | | | | | | | | | |
| Basic | | | 7,539 | | | | 7,602 | | | | 7,554 | | | | 7,619 | |
| Diluted | | | 7,597 | | | | 7,675 | | | | 7,617 | | | | 7,693 | |
| | | | | | | | | | | | | | | | | |
---
English News:
"Global Public Cloud Storage Management Markets Report 2020-2027 Featuring Alibaba, AWS, AT&T, Google, IBM, Microsoft, Oracle, Rackspace, & Verizon - ResearchAndMarkets.com - DUBLIN--(BUSINESS WIRE)--The "Public Cloud Storage Management - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering. Global Public Cloud Storage Management Market to Reach $25.1 Billion by 2027 Amid the COVID-19 crisis, the global market for Public Cloud Storage Management estimated at US$4.5 Billion in the year 2020, is projected to reach a revised size of US$25.1 Billion by 2027, growing at a CAGR of 27.7% over the period 2020-2027. Large Enterprises, one of the segments analyzed in the report, is projected to record 25.6% CAGR and reach US$13.3 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the SMEs segment is readjusted to a revised 30.6% CAGR for the next 7-year period. The U.S. Market is Estimated at $1.4 Billion, While China is Forecast to Grow at 27.1% CAGR The Public Cloud Storage Management market in the U.S. is estimated at US$1.4 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$4.3 Billion by the year 2027 trailing a CAGR of 27.1% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 24.6% and 24% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 19.7% CAGR. Key Topics Covered: I. METHODOLOGY II. EXECUTIVE SUMMARY 1. MARKET OVERVIEW 2. FOCUS ON SELECT PLAYERS 3. MARKET TRENDS & DRIVERS 4. GLOBAL MARKET PERSPECTIVE III. MARKET ANALYSIS IV. COMPETITION Select Competitors (Total 35 Featured): For more information about this report visit https://www.researchandmarkets.com/r/3o84d6"
Chinese News:
导读 市场热捧高科技，也令人们继续关注业界兼并购的新动向。美国当地时间4月27日盘后，微软、谷歌、AMD(超威半导体)发布今年1-3月的季度业绩。三大公司覆盖高科技软、硬件多种领域，收入均获得双位数增长，反映围绕云、高性能运算、图像处理的科技基建需求旺盛。市场热捧高科技，也令人们继续关注业界兼并购的新动向，其中，微软在过去4个月中已经发起4次市场瞩目的投资动作。据统计，4月以来，高科技板块再度跑赢传统行业板块。月内，美股市值排名前五的FAAMG(Facebook、苹果、亚马逊、微软、谷歌)股价均涨超过10%，纳斯达克指数累涨6.37%。本周后半周，苹果、Facebook、亚马逊、高通等公司也将发布业绩，市场目前预期乐观。微软谷歌发力云基建 季报显示，期内微软收入417.1亿美元，按年增19%；净利润155亿美元，按年增44%。谷歌收入553.14亿美元，按年增34%；净利润179.3亿美元，按年增162%。记者查询市场数据，在市值上，微软和谷歌已分别达到1.98万亿美元、1.55万亿美元，分别排名美股市值第二、第四位；在净利润绝对值上，两公司“赚钱能力”也在全球排名前10位。在如此高的基数上，两公司依然获得双位数乃至三位数的盈利增长，令人感叹科技公司的成长性惊人。最新的季报也反映出，科技公司的高成长故事正在转换主题。在科技时代的上一篇章中，微软和谷歌分别受惠于电脑产品和搜索引擎的成长，而在下一个篇章中，以“云”引领的数字化转型、人工智能、物联网正在逐步成为新的增长点。处于主题转换的交界处，传统业务目前仍是微软和谷歌的盈利支柱。微软方面，PC、笔记本电脑、XBOX游戏机以及Office软件仍然为总收入贡献63.8%；谷歌方面，搜索引擎、广告对收入贡献达到80.8%。上述数字反映，在一季度，由于居家办公、居家娱乐和更多数字化处理的需求出现，人们依然热衷于采购电子产品，并且增加了上网搜索的时间。展望科技成长的下一主题，来自微软和谷歌的高管不约而同地强调了对“云”的重视。业绩显示，微软云期内带来了151.2亿美元收入，而谷歌云带来了40.47亿美元收入。然而，谷歌也同时披露称，云业务仍在季内带来高达9.74亿美元的亏损。微软大手笔投资引人注目 4月以来，微软股价升逾11%，市值正在向2万亿美元进发，并取代亚马逊成为美股市值第二的公司。与此同时，季报显示截至3月末，微软手握现金及等价物、短期投资共1254.07亿美元。在现金和股权出资上的优势，令市场十分关注微软下一步的市场收购。今年以来，微软继续在人工智能领域进行大手笔投资。这些收购主要涉及自然语言处理、工业互联网、自动驾驶领域。最新一起收购计划发生于4月12日，微软在AI自然语言处理方面再发力，宣布已经和Nuance达成最终收购协议。Nuance本身已经上市，在2020年股价暴增147.3%、在今年前4个月股价继续升20.6%，已令市值达到133亿美元，因此微软为此项收购也不得不付出197亿美元的代价。不过，在市场情绪热络的同时，兼并购也会面临更大的价格谈判阻力。市场消息称，微软对Discord的竞购，已经在4月失败。提供线上聊天平台的Discord在游戏界尤其流行，为玩家们提供免费实时通话平台，疫情期间更是获得大量教育、商业领域的采用，因此市场估值节节攀升。在这种情况下，Discord对前途也另有想法，在与包括微软在内的买家谈判的同时，也在寻求未来发行IPO的可能性。市场消息称，微软的出价已经达到100亿美元，但仍然没有打动Discord。历史数据显示，自从1987年以来，微软迄今已经完成了大大小小共计270次收购，平均每年都要收购6家公司，可谓是科技界最喜欢“买买买”的公司之一。微软最为知名的收购对象包括社交网站Linkedin、语音通讯平台Skype、社群协作平台Github、手机制造商诺基亚、5G协作平台Affirmed等等。显然，微软成功的兼并购历史，令市场对其2021年更多的动作充满憧憬。科技“硬件”需求仍旺盛 云、人工智能的大发展，背后的根源动力之一是芯片硬件的性能提升。CPU和GPU知名制造商AMD(超威半导体)的最新季报，就显示了科技“硬件”基建的需求十分旺盛。今年1-3月，AMD收入和净利润分别为34.5亿美元、5.55亿美元，按年增速更是分别达到93%、243%。该公司称，这主要是因为CPU、GPU产品换代升级，令销售单价(average selling price)均有所提升。此外，AMD也认为，“云建设”对硬件设备提出了更高的要求。这表现在企业级别产品收入达到13.5亿美元，按年大涨286%。AMD强调，企业级别的数字化建设对高计算性能、工作量和安全性都有很高的要求。AMD的产品已经用于微软Azure、Oracle云、腾讯云、亚马逊云、谷歌云等多家公有云的主要基建平台上。在GPU领域，AMD与英伟达被认为是目前业界的“双雄”，控制全球市场的大部分出货。值得留意的是，英伟达也在4月12日曾对2-4月的季度表现发出盈利预喜。这反映GPU市场的确在2021年年初迎来了格外火爆的整体市场行情，而绝非单一公司的个别造好。随着一季度业绩发放，AMD顺势提升了对全年的业绩展望。仅三个月前，该公司认为2021财年的全年收入会比2020年增长33%，然而今时今日，该公司认为增幅将达到50%。
Japanese News:
"米マイクロソフトは4月27日、2021年1～3月期（第3四半期）の業績を公表した。同期の売上高は前年の同時期と比べて19％伸び、好調を維持した。クラウドサービスへの旺盛な需要に加え、パソコン出荷台数が四半期としては過去約20年で最も大きく伸びたことが業績を押し上げた。 会社側が発表した資料によれば、同期の売上は約417億ドル（日本円で約4兆5300億円）となり、ブルームバーグが集計した市場予測の平均値である411億ドルを超えた。しかし、市場の予測レンジ上限（419億ドル）には届かなかったことで、発表後の時間外取引では株価が一時2.3％ほど下落した。一部の市場関係者からは、最近の株価の好調を受け、予測をさらに大きく上回ることへの期待が過熱気味だったとの見解も出ている。 マイクロソフトの株価はここ1年で約50％上昇し、企業の時価総額も2兆ドル近くに達している。この背景には、クラウドを軸とした事業変革を進めるサティア・ナデラCEOに対する投資家の高い期待感があるとみられる。 主力のクラウドサービス「アジュール」の売上は前年同期比で50％の増加となり、前の四半期と同水準を保った。アジュールは堅調に業績を伸ばしているものの、アマゾンやグーグルといった競合他社との激しい競争にさらされている。また、世界的な半導体の供給不足が、同社のゲーム機「Xbox」の販売にも影響を与えている。 ウェドブッシュ証券のアナリスト、ダン・アイブス氏は「市場はさらに強力な売上数字を期待していたようだ」と述べたうえで、「ただしアジュールの成長は市場予測を上回っており、マイクロソフトに対して強気な投資家にとっては良い兆候となっている」と分析している。 純利益については155億ドルで、1株あたり利益は2.03ドルとなり、市場予想の1.78ドルを上回る結果となった。 新型コロナウイルスによるパンデミックの影響で、多くの企業がクラウドサービスへの移行を加速させているほか、マイクロソフトが提供するオンライン協業ソフト「オフィス」などへのアップグレードも進展している。そのため、同期のプロダクティビティ＆ビジネスプロセス部門の売上高は、前年同期比15％増の136億ドルを記録した。 エイミー・フード最高財務責任者（CFO）はインタビューで、同社のクラウドサービスは顧客企業からの信頼が高まり、導入期間も長期化していると述べている。 モア・パーソナル・コンピューティング部門も売上が19％伸び、130億ドルとなった。かつて業績を圧迫していたパソコン市場だが、学校や企業でのパソコン更新需要の高まりに支えられ、特に昨年コロナ禍で製造・購入活動が低迷していた時期と比較し、大幅な回復を遂げた。 しかしフードCFOは、世界的な半導体不足の影響で、パソコンおよびXboxの供給に引き続き制約がかかっていると指摘。Xboxの販売台数は前年同期比232％増と大きく伸びたが、在庫状況は依然として逼迫しており、この状況は次の四半期（4～6月）にも続く可能性があるとの見通しを示した。"
Spanish News:
"El gigante del software Microsoft anunció este martes unos beneficios de US$44,813 millones en los nueve primeros meses de su ejercicio fiscal 2021, lo que supone un incremento del 35% respecto al mismo período del ejercicio anterior, gracias al aumento de ventas por la pandemia. La empresa de Redmond (estado de Washington, EE.UU.) ingresó entre julio y marzo US$121,936 millones, por encima de los US$104,982 millones anunciados en marzo de 2020, con el grueso del crecimiento centrado en los servicios. Por su parte, los inversores de Microsoft ganaron durante los pasados nueve meses US$5.93 por título, frente a los US$4.34 que se embolsaron en el tramo equivalente del ejercicio fiscal 2020. Por segmentos de negocio, las áreas de mayor crecimiento para la empresa creadora del sistema operativo Windows fueron la computación en nube -algo que ya viene siendo habitual durante los últimos años- y los videojuegos, una de las industrias más beneficiadas por los cambios en el ocio a raíz del covid-19. Así, Azure, la plataforma de computación en nube de la empresa y competidor de AWS de Amazon, creció un 50% interanual, y Dynamics 365, el software de gestión para empresas muy vinculado a la nube, subió un 45%. El negocio en torno a la videoconsola de Microsoft, Xbox, aumentó un 34%, puesto que con el cierre obligatorio de gran parte de la oferta de ocio fuera del hogar, millones de personas recurrieron a los juegos digitales para pasar el tiempo. Otro producto de la compañía que también experimentó un crecimiento sustancial el pasado año fue la red profesional LinkedIn, cuya facturación se incrementó un 25%. “Tras más de un año de pandemia, la tendencia de adopción digital no se está ralentizando. Al contrario, se acelera, y esto es solo el principio”, indicó al presentar los resultados el consejero delegado de Microsoft, Satya Nadella. Las cuentas de la empresa, sin embargo, quedaron por debajo de lo esperado por los analistas y no terminaron de convencer en Wall Street, donde las acciones de la firma se dejaban un 3.27% hasta los US$253.40 por título en las operaciones electrónicas posteriores al cierre de los parqués."
Greek News:
"Η εταιρία Microsoft έχει σαν στρατηγική της την χρήση της τεχνολογίας ως μοχλό ανάπτυξης στους τομείς των επιχειρησιακών λύσεων και ανάπτυξης εφαρμογών. Στο ετήσιο συνέδριο Build, το οποίο φέτος πραγματοποιήθηκε στο San Franscisco, η εταιρία παρουσίασε νέων υπηρεσιών οι οποίες έχουν ως σκοπό την αύξηση του ""Developer Velocity"", δηλαδή της ταχύτητας και αποδοτικότητας των προγραμματιστών στην ανάπτυξη λογισμικού. Κάποιοι από τους κύριους άξονες ανακοινώσεων ήταν το ""Build productively"" και το ""Scale your innovation"". Σε αυτούς τους άξονες εισέρχονται εργαλεία όπως το Visual Studio 2022, τα Windows developer tools αλλά και οι πλατφόρμες όπως το Azure Applied AI και Powerplatform σε συνδυασμό με τεχνολογίες AI όπως το GPT-3. Η Microsoft δίνει έμφαση στη δημιουργία ενός οικοσυστήματος που θα στηρίζει τη ταχεία καινοτομίας, προσφέροντας στους προγραμματιστές σύγχρονες λύσεις για την ανάπτυξη εφαρμογών. Παράλληλα, σύμφωνα με τα οικονομικά αποτελέσματα για το τρίτο τρίμηνο του οικονομικού έτους 2021, η εταιρεία σημείωσε αύξηση 26% στα έσοδα από τα προϊόντα Dynamics και τις υπηρεσίες cloud και Server σε σύγκριση με την αντίστοιχη περίοδο του προηγούμενου έτους. Ξεχωρίζουν η αύξηση 45% στο Dynamics 365 και η ενίσχυση κατά 50% της πλατφόρμας Azure, στοιχεία που καταδεικνύουν τη σταθερά ενισχυόμενη παρουσία της Microsoft στην αγορά των επιχειρησιακών εφαρμογών και των cloud υποδομών."
Question:
What are the company's capital expenditures and their strategic significance from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | What are the company's capital expenditures and their strategic significance from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Microsoft reported strong operating cash flow of $22.2B in Q1 2021, up from $17.5B in Q1 2020. Investing cash outflows increased due to acquisitions, while financing outflows remained high from share repurchases and dividends. No irregularities.
News Evidence:
"微软大手笔投资引人注目...宣布已经和Nuance达成最终收购协议""las áreas de mayor crecimiento... fueron la computación en nube... y los videojuegos" |
HON_20200501 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 |
|:------------------------------------------------------------------------------|:----------------------|:-----------|:------------------|:-----------|:-----------|:-----------|:-----------|
| | | | | | | | |
| | | | | | | | |
| | March 31, 2020 | | December 31, 2019 | | | | |
| | (Dollars in millions) | | | | | | |
| ASSETS | | | | | | | |
| Current assets: | | | | | | | |
| Cash and cash equivalents | $ | 7,721 | | | $ | 9,067 | |
| Short-term investments | 1,070 | | | 1,349 | | | |
| Accounts receivable - net | 7,452 | | | 7,493 | | | |
| Inventories | 4,584 | | | 4,421 | | | |
| Other current assets | 1,786 | | | 1,973 | | | |
| Total current assets | 22,613 | | | 24,303 | | | |
| Investments and long-term receivables | 613 | | | 588 | | | |
| Property, plant and equipment - net | 5,214 | | | 5,325 | | | |
| Goodwill | 15,282 | | | 15,563 | | | |
| Other intangible assets - net | 3,580 | | | 3,734 | | | |
| Insurance recoveries for asbestos related liabilities | 383 | | | 392 | | | |
| Deferred income taxes | 71 | | | 86 | | | |
| Other assets | 9,666 | | | 8,688 | | | |
| Total assets | $ | 57,422 | | | $ | 58,679 | |
| LIABILITIES | | | | | | | |
| Current liabilities: | | | | | | | |
| Accounts payable | $ | 5,676 | | | $ | 5,730 | |
| Commercial paper and other short-term borrowings | 3,528 | | | 3,516 | | | |
| Current maturities of long-term debt | 1,042 | | | 1,376 | | | |
| Accrued liabilities | 7,131 | | | 7,476 | | | |
| Total current liabilities | 17,377 | | | 18,098 | | | |
| Long-term debt | 11,542 | | | 11,110 | | | |
| Deferred income taxes | 1,670 | | | 1,670 | | | |
| Postretirement benefit obligations other than pensions | 314 | | | 326 | | | |
| Asbestos related liabilities | 1,948 | | | 1,996 | | | |
| Other liabilities | 6,699 | | | 6,766 | | | |
| Redeemable noncontrolling interest | 7 | | | 7 | | | |
| SHAREOWNERS’ EQUITY | | | | | | | |
| Capital - common stock issued | 958 | | | 958 | | | |
| - additional paid-in capital | 7,047 | | | 6,876 | | | |
| Common stock held in treasury, at cost | (25,643 | ) | | (23,836 | ) | | |
| Accumulated other comprehensive loss | (3,353 | ) | | (3,197 | ) | | |
| Retained earnings | 38,635 | | | 37,693 | | | |
| Total Honeywell shareowners’ equity | 17,644 | | | 18,494 | | | |
| Noncontrolling interest | 221 | | | 212 | | | |
| Total shareowners’ equity | 17,865 | | | 18,706 | | | |
| Total liabilities, redeemable noncontrolling interest and shareowners’ equity | $ | 57,422 | | | $ | 58,679 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 |
|:------------------------------------------------------------------------------------------------------------|:-----------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|
| | | | | | | | |
| | | | | | | | |
| | Three Months Ended March 31, | | | | | | |
| | 2020 | | 2019 | | | | |
| | (Dollars in millions) | | | | | | |
| Cash flows from operating activities: | | | | | | | |
| Net income | $ | 1,606 | | | $ | 1,436 | |
| Less: Net income attributable to the noncontrolling interest | 25 | | | 20 | | | |
| Net income attributable to Honeywell | 1,581 | | | 1,416 | | | |
| Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities: | | | | | | | |
| Depreciation | 153 | | | 163 | | | |
| Amortization | 90 | | | 98 | | | |
| Repositioning and other charges | 62 | | | 84 | | | |
| Net payments for repositioning and other charges | (111 | ) | | (34 | ) | | |
| Pension and other postretirement income | (212 | ) | | (163 | ) | | |
| Pension and other postretirement benefit payments | (14 | ) | | (30 | ) | | |
| Stock compensation expense | 44 | | | 41 | | | |
| Deferred income taxes | (58 | ) | | 80 | | | |
| Other | (179 | ) | | (4 | ) | | |
| Changes in assets and liabilities, net of the effects of acquisitions and divestitures: | | | | | | | |
| Accounts receivable | 41 | | | 198 | | | |
| Inventories | (163 | ) | | (221 | ) | | |
| Other current assets | 166 | | | (217 | ) | | |
| Accounts payable | (54 | ) | | (29 | ) | | |
| Accrued liabilities | (407 | ) | | (248 | ) | | |
| Net cash provided by (used for) operating activities | 939 | | | 1,134 | | | |
| Cash flows from investing activities: | | | | | | | |
| Expenditures for property, plant and equipment | (139 | ) | | (141 | ) | | |
| Proceeds from disposals of property, plant and equipment | 7 | | | 2 | | | |
| Increase in investments | (648 | ) | | (1,226 | ) | | |
| Decrease in investments | 843 | | | 796 | | | |
| Receipts (payments) from settlements of derivative contracts | 287 | | | (40 | ) | | |
| Net cash provided by (used for) investing activities | 350 | | | (609 | ) | | |
| Cash flows from financing activities: | | | | | | | |
| Proceeds from issuance of commercial paper and other short-term borrowings | 3,455 | | | 3,318 | | | |
| Payments of commercial paper and other short-term borrowings | (3,373 | ) | | (3,319 | ) | | |
| Proceeds from issuance of common stock | 66 | | | 145 | | | |
| Proceeds from issuance of long-term debt | 1,127 | | | 20 | | | |
| Payments of long-term debt | (1,125 | ) | | (13 | ) | | |
| Repurchases of common stock | (1,923 | ) | | (750 | ) | | |
| Cash dividends paid | (635 | ) | | (606 | ) | | |
| Other | (38 | ) | | (30 | ) | | |
| Net cash provided by (used for) financing activities | (2,446 | ) | | (1,235 | ) | | |
| Effect of foreign exchange rate changes on cash and cash equivalents | (189 | ) | | 48 | | | |
| Net increase (decrease) in cash and cash equivalents | (1,346 | ) | | (662 | ) | | |
| Cash and cash equivalents at beginning of period | 9,067 | | | 9,287 | | | |
| Cash and cash equivalents at end of period | $ | 7,721 | | | $ | 8,625 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 |
|:-------------------------------------------------------------|:------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|
| | | | | | | | |
| | | | | | | | |
| | Three Months Ended March 31, | | | | | | |
| | 2020 | | 2019 | | | | |
| | (Dollars in millions, except per share amounts) | | | | | | |
| Product sales | $ | 6,305 | | | $ | 6,713 | |
| Service sales | 2,158 | | | 2,171 | | | |
| Net sales | 8,463 | | | 8,884 | | | |
| Costs, expenses and other | | | | | | | |
| Cost of products sold | 4,374 | | | 4,622 | | | |
| Cost of services sold | 1,160 | | | 1,257 | | | |
| | 5,534 | | | 5,879 | | | |
| Selling, general and administrative expenses | 1,238 | | | 1,363 | | | |
| Other (income) expense | (317 | ) | | (285 | ) | | |
| Interest and other financial charges | 73 | | | 85 | | | |
| | 6,528 | | | 7,042 | | | |
| Income before taxes | 1,935 | | | 1,842 | | | |
| Tax expense (benefit) | 329 | | | 406 | | | |
| Net income | 1,606 | | | 1,436 | | | |
| Less: Net income attributable to the noncontrolling interest | 25 | | | 20 | | | |
| Net income attributable to Honeywell | $ | 1,581 | | | $ | 1,416 | |
| Earnings per share of common stock - basic | $ | 2.23 | | | $ | 1.94 | |
| Earnings per share of common stock - assuming dilution | $ | 2.21 | | | $ | 1.92 | |
---
English News:
"Honeywell Delivers Margin Expansion Of Over 140 Basis Points And Earnings Per Share Of $2.21, Up 15% - CHARLOTTE, N.C., May1, 2020 /PRNewswire/ --Honeywell (NYSE: HON) today announced strong earnings growth for the first quarter of 2020 despite significant impacts from the COVID-19 pandemic. The company reported first-quarter earnings per share of $2.21, above guidance, operating profit growth of 3%, segment profit growth of 2%, and segment margin expansion of 140 basis points, all of which were at or above first-quarter guidance, with sales down 5%, or 4% organically. \"Honeywell delivered on our original earnings commitment for the first quarter, with EPS growth of 15% despite the substantial challenges we faced due to the COVID-19 pandemic. We remain focused on the strong operational excellence principles that underlie everything we do, and that discipline enabled us to achieve earnings growth in a challenging first quarter,\" said Darius Adamczyk, chairman and chief executive officer of Honeywell. \"As the COVID-19 pandemic rapidly escalated and the global economy deteriorated, we faced headwinds across our businesses, including rapid changes in our supply chain, constraints at customer sites, and significant impacts on the commercial aerospace and oil and gas end markets. These challenges drove an organic sales decline in the quarter. However, we acted quickly to mitigate the impacts and we continued to serve our customers, including those involved in the COVID-19 response efforts, while ensuring the safety of our employees.\" \"The safety of our employees is our top priority,\" Adamczyk said. \"We have announced that Honeywell will pay for COVID-19 testing costs that are not covered by our employees' insurance and will pay out-of-pocket treatment costs for those enrolled in the Honeywell medical plan. We have also provided a full year of paid sick time up-front to U.S. non-exempt employees and have announced a $10 million relief fund to help employees that are in financial distress. In addition, Honeywell is playing a critical role in keeping medical professionals safe. We have announced two new manufacturing sites for N95 respiratory masks in the United States. Between these two locations, we will produce 20 million respiratory masks per month and create about 1,000 new jobs. We are also quickly ramping up production of other personal protective equipment, including safety eyewear and face shields. Our medical sensors are widely used in ventilators, and we have significantly increased our sensor production to address demand. In addition, we are shifting manufacturing operations at two facilities to produce and donate hand sanitizer to government agencies. Within the United States, our donation will go to the Federal Emergency Management Agency (FEMA).\" Adamczyk continued, \"We are well-prepared to manage the downturn with a strong balance sheet and execution rigor focused on cost control and cash generation. We have nearly $9 billion of cash and short-term investments on hand and, in March, we further enhanced our financial flexibility by entering into a $6 billion two-year term loan and refinanced 1 billion of bonds at attractive rates. Our pension plan remains overfunded, requiring no additional contributions for the foreseeable future.\" Adamczyk concluded, \"I am proud of Honeywell's longstanding ability to adapt to and deliver in any type of economic environment, and I am confident in our ability to execute in these uncertain times.Our businesses serve a diverse set of end markets and we continue to invest in innovation for long-term growth, including quantum computing, the Honeywell Forge enterprise performance management software platform, and sustainable next-generation products. Honeywell is actively managing through the downturn and is well-positioned for the economic recovery to come.\" Due to the evolving nature of the COVID-19 pandemic and related supply chain and market disruptions, Honeywell announced that it has temporarily suspended its full-year financial guidance until the economic impact of COVID-19 stabilizes. The company expects ongoing top-line challenges due to the current market conditions, particularly in the aerospace and oil and gas sectors. First-Quarter Performance Honeywellsales for the first quarter were down 5% on a reported basis and down 4% on an organic basis. The difference between reported and organic sales primarily relates to the impact of foreign currency translation. The first-quarter financial results can be found in Tables 1 and 2. Aerospacesales for the first quarter were up 1% on an organic basis driven by continued strength in the Defense and Space business and growth in air transport commercial aftermarket, partially offset by lower air transport original equipment demand.Segment margin expanded 280 basis points to 27.9%, primarily driven by favorable sales mix and commercial excellence. Honeywell Building Technologiessales for the first quarter were down 6% on an organic basis as flat sales in commercial fire were offset by softness in building solutions projects and volume declines in security and building management products. Segment margin expanded 100 basis points to 20.5%, primarily driven by commercial and operational excellence. Performance Materials and Technologies sales for the first quarter were down 5% on an organic basis driven by supply chain disruptions and decreased products demand in Process Solutions; headwinds related to the continued illegal imports of hydrofluorocarbons (HFCs) into Europe, and lower automotive refrigerant volumes in Advanced Materials; and lower gas processing volumes in UOP, partially offset by higher demand for equipment. Segment margin contracted 50 basis points to 21.4%, primarily driven by unfavorable sales mix related to higher equipment demand, partially offset by commercial excellence. Safety and Productivity Solutionssales for the first quarter were down 9% on an organic basis driven by lower sales volumes in sensing and IoT, the impact of major systems project timing in Intelligrated, and lower demand for gas sensing products, more than offsetting increased demand for respiratory personal protective equipment. SPS orders were up double-digits in the first quarter, led by demand for PPE and strong Intelligrated bookings, resulting in backlog that is up over 30% year-over-year.Segment margin contracted 90 basis points to 12.5%, primarily driven by lower sales volumes, partially offset by productivity, net of inflation. Conference Call Details Honeywell will discuss its first-quarter results and second-quarter outlook during an investor conference call starting at 8:30 a.m. Eastern Daylight Time today. To participate on the conference call, please dial (866) 548-4713 (domestic) or (323) 794-2093 (international) approximately ten minutes before the 8:30 a.m. EDT start.Please mention to the operator that you are dialing in for Honeywell's first-quarter 2020 earnings call or provide the conference code HON1Q20. The live webcast of the investor call as well as related presentation materials will be available through the Investor Relations section of the company's website (www.honeywell.com/investor). Investors can hear a replay of the conference call from 12:30 p.m. EDT, May 1, until 12:30 p.m. EDT, May 8, by dialing (888) 203-1112 (domestic) or (719) 457-0820 (international). The access code is 4293414. TABLE 1: SUMMARY OF HONEYWELL FINANCIAL RESULTS 1Q 2020 1Q 2019 Change Sales 8,463 8,884 (5%) Organic Growth (4%) Segment Margin 21.8% 20.4% 140 bps Operating Income Margin 20.0% 18.5% 150 bps Earnings Per Share $2.21 $1.92 15% Cash Flow from Operations 939 1,134 (17%) Free Cash Flow 800 993 (19%) Adjusted Free Cash Flow1 800 1,158 (31%) TABLE 2: SUMMARY OF SEGMENT FINANCIAL RESULTS AEROSPACE 1Q 2020 1Q 2019 Change Sales 3,361 3,341 1% Organic Growth 1% Segment Profit 937 838 12% Segment Margin 27.9% 25.1% 280 bps HONEYWELL BUILDING TECHNOLOGIES Sales 1,281 1,389 (8%) Organic Growth (6%) Segment Profit 262 271 (3%) Segment Margin 20.5% 19.5% 100 bps PERFORMANCE MATERIALS AND TECHNOLOGIES Sales 2,397 2,572 (7%) Organic Growth (5%) Segment Profit 512 564 (9%) Segment Margin 21.4% 21.9% -50 bps SAFETY AND PRODUCTIVITY SOLUTIONS Sales 1,424 1,582 (10%) Organic Growth (9%) Segment Profit 178 212 (16%) Segment Margin 12.5% 13.4% -90 bps 1Adjusted free cash flow and adjusted free cash flow V% exclude impacts from separation costs related to the spin-offs of $165M in 1Q19 Honeywell (www.honeywell.com) is a Fortune 100 technology company that delivers industry specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help everything from aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom. This release contains certain statements that may be deemed \"forward-looking statements\" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, technological, and COVID-19 public health factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, and other developments, including the potential impact of the COVID-19 pandemic, and business decisions may differ from those envisaged by such forward-looking statements. Any forward-looking plans described herein are not final and may be modified or abandoned at any time. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission. This release contains financial measures presented on a non-GAAP basis. Honeywell's non-GAAP financial measures used in this release are as follows: segment profit, on an overall Honeywell basis, a measure by which we assess operating performance, which we define as operating income adjusted for certain items as presented in the Appendix; segment margin, on an overall Honeywell basis, which we define as segment profit divided by sales; organic sales growth, which we define as sales growth less the impacts from foreign currency translation, and acquisitions and divestitures for the first 12 months following transaction date; free cash flow, which we define as cash flow from operations less capital expenditures; and adjusted free cash flow, which we define as cash flow from operations less capital expenditures and which we adjust to exclude the impact of separation costs related to the spin-offs of Resideo and Garrett, if and as noted in the release.Management believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. These metrics should be considered in addition to, and not as replacements for, the most comparable GAAP measure. Refer to the Appendix attached to this release for reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures. Honeywell International Inc. Consolidated Statement of Operations (Unaudited) (Dollars in millions, except per share amounts) Three Months Ended March 31, 2020 2019 Product sales $ 6,305 $ 6,713 Service sales 2,158 2,171 Net sales 8,463 8,884 Costs, expenses and other Cost of products sold (1) 4,374 4,622 Cost of services sold (1) 1,160 1,257 5,534 5,879 Selling, general and administrative expenses (1) 1,238 1,363 Other (income) expense (317) (285) Interest and other financial charges 73 85 6,528 7,042 Income before taxes 1,935 1,842 Tax expense (benefit) 329 406 Net income 1,606 1,436 Less: Net income attributable to the noncontrolling interest 25 20 Net income attributable to Honeywell $ 1,581 $ 1,416 Earnings per share of common stock - basic $ 2.23 $ 1.94 Earnings per share of common stock - assuming dilution $ 2.21 $ 1.92 Weighted average number of shares outstanding - basic 709.6 729.7 Weighted average number of shares outstanding - assuming dilution 717.0 738.8 (1) Cost of products and services sold and selling, general and administrative expenses include amounts for repositioning and other charges, the service cost component of pension and other postretirement (income) expense, and stock compensation expense. Honeywell International Inc. Segment Data (Unaudited) (Dollars in millions) Three Months Ended March 31, Net Sales 2020 2019 Aerospace $ 3,361 $ 3,341 Honeywell Building Technologies 1,281 1,389 Performance Materials and Technologies 2,397 2,572 Safety and Productivity Solutions 1,424 1,582 Total $ 8,463 $ 8,884 Reconciliation of Segment Profit to Income Before Taxes Three Months Ended March 31, Segment Profit 2020 2019 Aerospace $ 937 $ 838 Honeywell Building Technologies 262 271 Performance Materials and Technologies 512 564 Safety and Productivity Solutions 178 212 Corporate (41) (76) Total segment profit 1,848 1,809 Interest and other financial charges (73) (85) Stock compensation expense (1) (44) (41) Pension ongoing income (2) 198 151 Other postretirement income (2) 13 12 Repositioning and other charges (3,4) (62) (84) Other (5) 55 80 Income before taxes $ 1,935 $ 1,842 (1) Amounts included in Selling, general and administrative expenses. (2) Amounts included in Cost of products and services sold and Selling, general and administrative expenses (service costs) and Other income/expense (non-service cost components). (3) Amounts included in Cost of products and services sold, Selling, general and administrative expenses, and Other income/expense. (4) Includes repositioning, asbestos, and environmental expenses. (5) Amounts include the other components of Other income/expense not included within other categories in this reconciliation. Equity income (loss) of affiliated companies is included in segment profit. Honeywell International Inc. Consolidated Balance Sheet (Unaudited) (Dollars in millions) March 31, 2020 December 31, 2019 ASSETS Current assets: Cash and cash equivalents $ 7,721 $ 9,067 Short-term investments 1,070 1,349 Accounts receivable - net 7,452 7,493 Inventories 4,584 4,421 Other current assets 1,786 1,973 Total current assets 22,613 24,303 Investments and long-term receivables 613 588 Property, plant and equipment - net 5,214 5,325 Goodwill 15,282 15,563 Other intangible assets - net 3,580 3,734 Insurance recoveries for asbestos related liabilities 383 392 Deferred income taxes 71 86 Other assets 9,666 8,688 Total assets $ 57,422 $ 58,679 LIABILITIES Current liabilities: Accounts payable $ 5,676 $ 5,730 Commercial paper and other short-term borrowings 3,528 3,516 Current maturities of long-term debt 1,042 1,376 Accrued liabilities 7,131 7,476 Total current liabilities 17,377 18,098 Long-term debt 11,542 11,110 Deferred income taxes 1,670 1,670 Postretirement benefit obligations other than pensions 314 326 Asbestos related liabilities 1,948 1,996 Other liabilities 6,699 6,766 Redeemable noncontrolling interest 7 7 Shareowners' equity 17,865 18,706 Total liabilities, redeemable noncontrolling interest and shareowners' equity $ 57,422 $ 58,679 Honeywell International Inc. Consolidated Statement of Cash Flows (Unaudited) (Dollars in millions) Three Months Ended March 31, 2020 2019 Cash flows from operating activities: Net income $ 1,606 $ 1,436 Less: Net income attributable to the noncontrolling interest 25 20 Net income attributable to Honeywell 1,581 1,416 Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities: Depreciation 153 163 Amortization 90 98 Repositioning and other charges 62 84 Net payments for repositioning and other charges (111) (34) Pension and other postretirement income (212) (163) Pension and other postretirement benefit payments (14) (30) Stock compensation expense 44 41 Deferred income taxes (58) 80 Other (179) (4) Changes in assets and liabilities, net of the effects of acquisitions and divestitures: Accounts receivable 41 198 Inventories (163) (221) Other current assets 166 (217) Accounts payable (54) (29) Accrued liabilities (407) (248) Net cash provided by (used for) operating activities 939 1,134 Cash flows from investing activities: Expenditures for property, plant and equipment (139) (141) Proceeds from disposals of property, plant and equipment 7 2 Increase in investments (648) (1,226) Decrease in investments 843 796 Receipts (payments) from settlements of derivative contracts 287 (40) Net cash provided by (used for) investing activities 350 (609) Cash flows from financing activities: Proceeds from issuance of commercial paper and other short-term borrowings 3,455 3,318 Payments of commercial paper and other short-term borrowings (3,373) (3,319) Proceeds from issuance of common stock 66 145 Proceeds from issuance of long-term debt 1,127 20 Payments of long-term debt (1,125) (13) Repurchases of common stock (1,923) (750) Cash dividends paid (635) (606) Other (38) (30) Net cash provided by (used for) financing activities (2,446) (1,235) Effect of foreign exchange rate changes on cash and cash equivalents (189) 48 Net increase (decrease) in cash and cash equivalents (1,346) (662) Cash and cash equivalents at beginning of period 9,067 9,287 Cash and cash equivalents at end of period $ 7,721 $ 8,625 Honeywell International Inc. Reconciliation of Organic Sales % Change (Unaudited) Three Months Ended March 31, 2020 Honeywell Reported sales % change (5)% Less: Foreign currency translation (1)% Less: Acquisitions, divestitures and other, net % Organic sales % change (4)% Aerospace Reported sales % change 1% Less: Foreign currency translation % Less: Acquisitions, divestitures and other, net % Organic sales % change 1% Honeywell Building Technologies Reported sales % change (8)% Less: Foreign currency translation (2)% Less: Acquisitions, divestitures and other, net % Organic sales % change (6)% Performance Materials and Technologies Reported sales % change (7)% Less: Foreign currency translation (2)% Less: Acquisitions, divestitures and other, net % Organic sales % change (5)% Safety and Productivity Solutions Reported sales % change (10)% Less: Foreign currency translation (1)% Less: Acquisitions, divestitures and other, net % Organic sales % change (9)% We define organic sales percent as the year-over-year change in reported sales relative to the comparable period, excluding the impact on sales from foreign currency translation and acquisitions, net of divestitures. We believe this measure is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. Honeywell International Inc. Reconciliation of Segment Profit to Operating Income and Calculation of Segment Profit and Operating Income Margins (Unaudited) (Dollars in millions) Three Months Ended March 31, 2020 2019 Segment profit $ 1,848 $ 1,809 Stock compensation expense (1) (44) (41) Repositioning, Other (2,3) (74) (93) Pension and other postretirement service costs (4) (39) (33) Operating income $ 1,691 $ 1,642 Segment profit $ 1,848 $ 1,809 Net sales $ 8,463 $ 8,884 Segment profit margin % 21.8 % 20.4 % Operating income $ 1,691 $ 1,642 Net sales $ 8,463 $ 8,884 Operating income margin % 20.0 % 18.5 % (1) Included in Selling, general and administrative expenses. (2) Includes repositioning, asbestos, environmental expenses and equity income adjustment. (3) Included in Cost of products and services sold, Selling, general and administrative expenses and Other income/expense. (4) Included in Cost of products and services sold and Selling, general and administrative expenses. We define segment profit as operating income, excluding stock compensation expense, pension and other postretirement service costs, and repositioning and other charges. We believe these measures are useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. Honeywell International Inc. Reconciliation of Cash Provided by Operating Activities to Adjusted Free Cash Flow (Unaudited) (Dollars in millions) Three Months EndedMarch 31, 2020 Three Months EndedMarch 31, 2019 Cash provided by operating activities $ 939 $ 1,134 Expenditures for property, plant and equipment (139) (141) Free cash flow 800 993 Separation cost payments 165 Adjusted free cash flow $ 800 $ 1,158 We define free cash flow as cash provided by operating activities less cash expenditures for property, plant and equipment. We believe that this metric is useful to investors and management as a measure of cash generated by business operations that will be used to repay scheduled debt maturities and can be used to invest in future growth through new business development activities or acquisitions, pay dividends, repurchase stock or repay debt obligations prior to their maturities. This metric can also be used to evaluate our ability to generate cash flow from business operations and the impact that this cash flow has on our liquidity. Contacts: Media Investor Relations Nina Krauss Mark Bendza (704) 627-6035 (704) 627-6200 [emailprotected] [emailprotected] SOURCE Honeywell Related Links http://www.honeywell.com"
Chinese News:
5月6日，霍尼韦尔(纽交所代码： HON)公布2020年第一季度的财务业绩，受到新冠肺炎疫情重大影响，霍尼韦尔个人防护业务大幅增长，但其业务占比过小，无法抵消其他业务受疫情下滑的影响。霍尼韦尔第一季度销售额84.63亿美元，同比下滑5%；每股收益2.21美元；营运利润上涨3%，部门利润上涨2%；营运现金流9亿美元，自由现金流8亿美元。“尽管新冠肺炎疫情给我们带来了巨大的挑战，但霍尼韦尔完成了第一季度的收益承诺，每股收益增长15%。”霍尼韦尔董事长兼首席执行官杜瑞哲说，“随着新冠肺炎疫情迅速蔓延，全球经济恶化，我们业务都面临不利因素，包括我们供应链的急剧变化、客户现场受限以及商用航空、石油和天然气终端市场所受的重大影响。这些挑战导致我们该季度内生 式销售额下降。但我们立即采取行动以减轻新冠肺炎疫情带来的影响，并继续为客户提供服务，这包括响应疫情防控工作的客户，同时确保我们 员工的安全。”受疫情影响，在个人防护设备的需求依旧强劲情况下，霍尼韦尔扩大了产能。杜瑞哲说，“我们已经宣布在美国新设立两个N95口罩生产基地，每月将生产2000万个口罩，并创造约1000个新工作岗位。我们同时还迅速提升包括护目镜、防护面罩在内的其他个人防护设备产量。 我们的医疗传感器已广泛应用于呼吸机中，并且我们已经大大提升了传感器产量，以满足需求。我们还在两家工厂改造生产线，以生产洗手液并 将其捐赠给政府机构。在美国，我们将其捐赠给联邦应急管理局(FEMA)。”“我们已做好充分准备，通过强大的资产负债表、严格执行成本控制以 及现金增值的能力来应对经济衰退。我们手头上有近90亿美元的现金和短期投资，并且在3月份，我们通过签署一项为期两年、价值60亿美元的贷款协议，进一步提升了财务灵活性，并以具有吸引力的利率为10亿欧元债券进行再融资。我们的养老金计划仍然资金充裕，在可预见的将来不需 要额外的供款。”受当前市场状况影响，尤其是航空航天以及石油和天然气行业，霍尼韦尔预期将面临不断的销售业绩挑战。在霍尼韦尔四大业务中，口罩所在的安全与生产力解决方案集团业务部占比是较小的。第一季度内生式销售额下降9%，营收14.24亿美元。尽管个人防护设备需求猛增，但传感和工业物联销售下降，Intelligrated大型系统项目进度控制受影响，气体传感产品需求下降。由于个人防护设备需求上涨以及Intelligrated强劲的预定，该业务集团一季度订单实现两位数增长，导致订单储存同比上涨达到30%。部门利润率下降90个基点至12.5%，主要受销售下降影响，部分被生产率所抵消，不考虑通货膨胀因素。霍尼韦尔营收占比最大的航空航天集团业务在第一季度实现内生式销售额增长1%，营收33.61亿美元。霍尼韦尔方面称这主要归功于防务和航天业务持续的强劲表现，以及空中交通运输商用售后市场的增长，但被商用航空原始设备需求下 降所部分抵消。部门利润率上涨280个基点至27.9%，主要得益于商业运营和有利的销售组合。智能建筑科技集团第一季度内生式销售额下降6%， 营收12.81亿美元。商用消防销售持平，但建筑智能系统项目放缓，安防和建筑管理产品销售下降。特性材料和技术集团第一季度内生式销售额下降5%，营收23.97亿美元。原因在于过程控制部业务受供应链影响以及产品需求下降；高性能材料业务受欧洲市场持续非法进口氢氟烃(HFC)影响 以及汽车制冷剂销售下降；UOP气体处理量下滑，部分被设备需求增长所抵消。部门利润率下降50个基点至21.4%，主要原因在于设备需求上升导 致不利的销售组合。
Japanese News:
湖北省武漢市で設けられた米複合企業ハネウェル社の完全子会社であるハネウェル新興市場本部とイノベーションセンターが19日、オープンしました。 新型コロナウイルス感染症の終息後、世界500強企業が、中国に進出するのはこれが初めてです。 ハネウェル社は航空産業向けの製品やサービス、建築、産業用制御技術、特殊材料などの分野におけるハイテクソリューション事業を展開しています。 同社・中国エリアの責任者・張宇峰氏は「武漢を2回訪れた。光谷ソフトウェアパークにあるイノベーション企業が非常に素晴らしい。彼らの革新的な製品、ソリューション、人材の誘致、投資環境は非常に優れている。ここでは新しい製品ラインをたくさん開発できると思う」と述べました。 一方、武漢東湖新技術開発区管理委員会の陳平主任は、 「武漢にとってこの春は大変なひと時であったが、無事に世界500強の企業を迎えた。この会社が新しい完全子会社を率先して感染症終息後の武漢に設立することは、武漢にとって自信を高める非常に重要な措置だ。サービスをさらに改善し、一流のビジネス環境を整え、最も便利なサービスを提供するとともに、外資企業が中国で新たな発展を迎えるために最適なサービスを提供する」と述べました。
Spanish News:
Honeywell (NYSE:HON) presentó el Viernes sus beneficios correspondientes al primer trimestre del año, cifras que superaron las previsiones de los analistas. Los ingresos, por su parte, se situaron por debajo de lo esperado. La compañía presentó un beneficio por acción de $2,21 y una facturación de $8,46B. Los analistas encuestados por Investing.com esperaban un BPA de $1,96 y unos ingresos de $8,6B, en comparación con el BPA de $1,92 y los ingresos de $8,88B que obtuvo en el mismo periodo del año anterior. En el trimestre anterior, la compañía registró un BPA de $2,06 y unos ingresos de $9,5B. En lo que llevamos de año, la acción de Honeywell desciende un 19%, por debajo de lo esperado al S&P 500, lo que representa una caída del 10%. Con sus cifras, Honeywell se une este mes a otras grandes del sector Bienes de capital . El pasado 15 de abril, ASML ADR presentó un BPA para el primer trimestre del año de $0,93 y unos ingresos de $2,44B, frente a la previsión de BPA de $1,47 y de ingresos de $3,17B. Los beneficios de Lockheed Martin superaron las previsiones de los analistas lanzadas el pasado 21 de abril, con un BPA para el primer trimestre de $6,08 y unos ingresos de $15,65B. Los analistas encuestados por Investing.com esperaban un BPA de $5,81 y unos ingresos de $15,08B. Manténgase al día de todas las cifras empresariales visitando nuestro Calendario de Resultados.
Greek News:
Η εταιρία κολοσσός Honeywell εστιάζει σε καινοτόμες τεχνολογίες καυσίμων και μεταφορών, εντείνοντας τις προσπάθειες της για βιωσιμότητα. Χρησιμοποιώντας μη βιώσιμα φυτά όπως τα φύκη και η γιατρόφα αλλά και απορρίματα, παράγει πράσινα καύσιμα και πετυχαίνει σημαντικές μειώσεις στις εκπομπές αερίων του θερμοκηπίου. Συγκεκριμένα, τα πράσινα αεροπορικά καύσιμα που αναπτύσσει προσφέρουν έως και 85% χαμηλότερες εκπομπές καθ' όλο τον κύκλο ζωής τους, ενώ παρόμοια ποσοστά επιτυγχάνονται και στα καύσιμα για οδικές και θαλάσσιες μεταφορές. Αυτές οι λύσεις συμβάλλουν ουσιαστικά στην απαθρακοποίηση του ευρύτερου τομέα των μεταφορών. Επίσης στον κλάδο της αεροπορίας, η εταιρία αναπτύσσει τεχνολογίες οι οποίες επιδιώκουν την παράλληλη αύξηση της χωρητικότητας και τη μείωση των εκπομπών. Το λογισμικό Honeywell Forge επιτρέπει τις λειτουργίες των πτήσεων να είναι πιο αποδοτικές, οδηγώντας έτσι σε μείωση της κατανάλωσης ενέργειας έως και 5% ανά διαδρομή. Επιπλέον, τα ηλεκτρικά και υβριδικά-ηλεκτρικά συστήματα πτήσης που αναπτύσσει η εταιρία στοχεύουν στον περιορισμό των εκπομπών σε κρίσιμες φάσεις, όπως η απογείωση και η προσγείωση, βελτιώνοντας τις περιβαλλοντικές επιδόσεις σε αστικά περιβάλλοντα. Παράλληλα με τα παραπάνω μέτρα, που έχουν ώς κύριο τους μέρισμα το περιβαλλοντικό αντίκτυπο της εταιρίας, η Honeywell ενισχύει την στρατηγική της παρουσία και στον αμυντικό τομέα. Συγκεκριμένα, εξασφάλισε συμβόλαιο $99,1 εκατομμυρίων με την Πολεμική Αεροπορία των ΗΠΑ. Το έργο αφορά τον εκσυγχρονισμό του συστήματος πλοήγησης EGI-M, το οποίο αποτελεί τεχνολογική πλατφόρμα για στρατιωτικά αεροσκάφη. Η ικανότητα του να λειτουργεί χωρίς εξάρτηση από GPS το καθιστά κρίσιμο για επιχειρήσεις σε περιβάλλοντα υψηλού κινδύνου, ενώ η υλοποίηση του έργου στη πόλη Clearwater της Florida, αναμένεται να ολοκληρωθεί μέχρι τα μέσα του 2024.
Question:
Please list the top three focuses on revenue from news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | Please list the top three focuses on revenue from news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: 1. The Aerospace division was the largest contributor, showing slight growth due to strength in defense and aftermarket services. 2. Performance Materials and Technologies followed, though it faced declines due to supply chain issues and lower demand in certain product areas. 3. The Safety and Productivity Solutions segment saw strong demand for personal protective equipment, but overall sales declined due to weakness in other product categories.
Financial Statement Evidence: In Q1 FY2020, Honeywell’s total revenue was $8.5B, with $6.3B from product sales and $2.2B from service sales. This compares to $8.9B total revenue in Q1 FY2019, comprised of $6.7B in product and $2.2B in service revenue. |
HON_20200501 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 |
|:------------------------------------------------------------------------------|:----------------------|:-----------|:------------------|:-----------|:-----------|:-----------|:-----------|
| | | | | | | | |
| | | | | | | | |
| | March 31, 2020 | | December 31, 2019 | | | | |
| | (Dollars in millions) | | | | | | |
| ASSETS | | | | | | | |
| Current assets: | | | | | | | |
| Cash and cash equivalents | $ | 7,721 | | | $ | 9,067 | |
| Short-term investments | 1,070 | | | 1,349 | | | |
| Accounts receivable - net | 7,452 | | | 7,493 | | | |
| Inventories | 4,584 | | | 4,421 | | | |
| Other current assets | 1,786 | | | 1,973 | | | |
| Total current assets | 22,613 | | | 24,303 | | | |
| Investments and long-term receivables | 613 | | | 588 | | | |
| Property, plant and equipment - net | 5,214 | | | 5,325 | | | |
| Goodwill | 15,282 | | | 15,563 | | | |
| Other intangible assets - net | 3,580 | | | 3,734 | | | |
| Insurance recoveries for asbestos related liabilities | 383 | | | 392 | | | |
| Deferred income taxes | 71 | | | 86 | | | |
| Other assets | 9,666 | | | 8,688 | | | |
| Total assets | $ | 57,422 | | | $ | 58,679 | |
| LIABILITIES | | | | | | | |
| Current liabilities: | | | | | | | |
| Accounts payable | $ | 5,676 | | | $ | 5,730 | |
| Commercial paper and other short-term borrowings | 3,528 | | | 3,516 | | | |
| Current maturities of long-term debt | 1,042 | | | 1,376 | | | |
| Accrued liabilities | 7,131 | | | 7,476 | | | |
| Total current liabilities | 17,377 | | | 18,098 | | | |
| Long-term debt | 11,542 | | | 11,110 | | | |
| Deferred income taxes | 1,670 | | | 1,670 | | | |
| Postretirement benefit obligations other than pensions | 314 | | | 326 | | | |
| Asbestos related liabilities | 1,948 | | | 1,996 | | | |
| Other liabilities | 6,699 | | | 6,766 | | | |
| Redeemable noncontrolling interest | 7 | | | 7 | | | |
| SHAREOWNERS’ EQUITY | | | | | | | |
| Capital - common stock issued | 958 | | | 958 | | | |
| - additional paid-in capital | 7,047 | | | 6,876 | | | |
| Common stock held in treasury, at cost | (25,643 | ) | | (23,836 | ) | | |
| Accumulated other comprehensive loss | (3,353 | ) | | (3,197 | ) | | |
| Retained earnings | 38,635 | | | 37,693 | | | |
| Total Honeywell shareowners’ equity | 17,644 | | | 18,494 | | | |
| Noncontrolling interest | 221 | | | 212 | | | |
| Total shareowners’ equity | 17,865 | | | 18,706 | | | |
| Total liabilities, redeemable noncontrolling interest and shareowners’ equity | $ | 57,422 | | | $ | 58,679 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 |
|:------------------------------------------------------------------------------------------------------------|:-----------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|
| | | | | | | | |
| | | | | | | | |
| | Three Months Ended March 31, | | | | | | |
| | 2020 | | 2019 | | | | |
| | (Dollars in millions) | | | | | | |
| Cash flows from operating activities: | | | | | | | |
| Net income | $ | 1,606 | | | $ | 1,436 | |
| Less: Net income attributable to the noncontrolling interest | 25 | | | 20 | | | |
| Net income attributable to Honeywell | 1,581 | | | 1,416 | | | |
| Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities: | | | | | | | |
| Depreciation | 153 | | | 163 | | | |
| Amortization | 90 | | | 98 | | | |
| Repositioning and other charges | 62 | | | 84 | | | |
| Net payments for repositioning and other charges | (111 | ) | | (34 | ) | | |
| Pension and other postretirement income | (212 | ) | | (163 | ) | | |
| Pension and other postretirement benefit payments | (14 | ) | | (30 | ) | | |
| Stock compensation expense | 44 | | | 41 | | | |
| Deferred income taxes | (58 | ) | | 80 | | | |
| Other | (179 | ) | | (4 | ) | | |
| Changes in assets and liabilities, net of the effects of acquisitions and divestitures: | | | | | | | |
| Accounts receivable | 41 | | | 198 | | | |
| Inventories | (163 | ) | | (221 | ) | | |
| Other current assets | 166 | | | (217 | ) | | |
| Accounts payable | (54 | ) | | (29 | ) | | |
| Accrued liabilities | (407 | ) | | (248 | ) | | |
| Net cash provided by (used for) operating activities | 939 | | | 1,134 | | | |
| Cash flows from investing activities: | | | | | | | |
| Expenditures for property, plant and equipment | (139 | ) | | (141 | ) | | |
| Proceeds from disposals of property, plant and equipment | 7 | | | 2 | | | |
| Increase in investments | (648 | ) | | (1,226 | ) | | |
| Decrease in investments | 843 | | | 796 | | | |
| Receipts (payments) from settlements of derivative contracts | 287 | | | (40 | ) | | |
| Net cash provided by (used for) investing activities | 350 | | | (609 | ) | | |
| Cash flows from financing activities: | | | | | | | |
| Proceeds from issuance of commercial paper and other short-term borrowings | 3,455 | | | 3,318 | | | |
| Payments of commercial paper and other short-term borrowings | (3,373 | ) | | (3,319 | ) | | |
| Proceeds from issuance of common stock | 66 | | | 145 | | | |
| Proceeds from issuance of long-term debt | 1,127 | | | 20 | | | |
| Payments of long-term debt | (1,125 | ) | | (13 | ) | | |
| Repurchases of common stock | (1,923 | ) | | (750 | ) | | |
| Cash dividends paid | (635 | ) | | (606 | ) | | |
| Other | (38 | ) | | (30 | ) | | |
| Net cash provided by (used for) financing activities | (2,446 | ) | | (1,235 | ) | | |
| Effect of foreign exchange rate changes on cash and cash equivalents | (189 | ) | | 48 | | | |
| Net increase (decrease) in cash and cash equivalents | (1,346 | ) | | (662 | ) | | |
| Cash and cash equivalents at beginning of period | 9,067 | | | 9,287 | | | |
| Cash and cash equivalents at end of period | $ | 7,721 | | | $ | 8,625 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 |
|:-------------------------------------------------------------|:------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|
| | | | | | | | |
| | | | | | | | |
| | Three Months Ended March 31, | | | | | | |
| | 2020 | | 2019 | | | | |
| | (Dollars in millions, except per share amounts) | | | | | | |
| Product sales | $ | 6,305 | | | $ | 6,713 | |
| Service sales | 2,158 | | | 2,171 | | | |
| Net sales | 8,463 | | | 8,884 | | | |
| Costs, expenses and other | | | | | | | |
| Cost of products sold | 4,374 | | | 4,622 | | | |
| Cost of services sold | 1,160 | | | 1,257 | | | |
| | 5,534 | | | 5,879 | | | |
| Selling, general and administrative expenses | 1,238 | | | 1,363 | | | |
| Other (income) expense | (317 | ) | | (285 | ) | | |
| Interest and other financial charges | 73 | | | 85 | | | |
| | 6,528 | | | 7,042 | | | |
| Income before taxes | 1,935 | | | 1,842 | | | |
| Tax expense (benefit) | 329 | | | 406 | | | |
| Net income | 1,606 | | | 1,436 | | | |
| Less: Net income attributable to the noncontrolling interest | 25 | | | 20 | | | |
| Net income attributable to Honeywell | $ | 1,581 | | | $ | 1,416 | |
| Earnings per share of common stock - basic | $ | 2.23 | | | $ | 1.94 | |
| Earnings per share of common stock - assuming dilution | $ | 2.21 | | | $ | 1.92 | |
---
English News:
"Honeywell Delivers Margin Expansion Of Over 140 Basis Points And Earnings Per Share Of $2.21, Up 15% - CHARLOTTE, N.C., May1, 2020 /PRNewswire/ --Honeywell (NYSE: HON) today announced strong earnings growth for the first quarter of 2020 despite significant impacts from the COVID-19 pandemic. The company reported first-quarter earnings per share of $2.21, above guidance, operating profit growth of 3%, segment profit growth of 2%, and segment margin expansion of 140 basis points, all of which were at or above first-quarter guidance, with sales down 5%, or 4% organically. \"Honeywell delivered on our original earnings commitment for the first quarter, with EPS growth of 15% despite the substantial challenges we faced due to the COVID-19 pandemic. We remain focused on the strong operational excellence principles that underlie everything we do, and that discipline enabled us to achieve earnings growth in a challenging first quarter,\" said Darius Adamczyk, chairman and chief executive officer of Honeywell. \"As the COVID-19 pandemic rapidly escalated and the global economy deteriorated, we faced headwinds across our businesses, including rapid changes in our supply chain, constraints at customer sites, and significant impacts on the commercial aerospace and oil and gas end markets. These challenges drove an organic sales decline in the quarter. However, we acted quickly to mitigate the impacts and we continued to serve our customers, including those involved in the COVID-19 response efforts, while ensuring the safety of our employees.\" \"The safety of our employees is our top priority,\" Adamczyk said. \"We have announced that Honeywell will pay for COVID-19 testing costs that are not covered by our employees' insurance and will pay out-of-pocket treatment costs for those enrolled in the Honeywell medical plan. We have also provided a full year of paid sick time up-front to U.S. non-exempt employees and have announced a $10 million relief fund to help employees that are in financial distress. In addition, Honeywell is playing a critical role in keeping medical professionals safe. We have announced two new manufacturing sites for N95 respiratory masks in the United States. Between these two locations, we will produce 20 million respiratory masks per month and create about 1,000 new jobs. We are also quickly ramping up production of other personal protective equipment, including safety eyewear and face shields. Our medical sensors are widely used in ventilators, and we have significantly increased our sensor production to address demand. In addition, we are shifting manufacturing operations at two facilities to produce and donate hand sanitizer to government agencies. Within the United States, our donation will go to the Federal Emergency Management Agency (FEMA).\" Adamczyk continued, \"We are well-prepared to manage the downturn with a strong balance sheet and execution rigor focused on cost control and cash generation. We have nearly $9 billion of cash and short-term investments on hand and, in March, we further enhanced our financial flexibility by entering into a $6 billion two-year term loan and refinanced 1 billion of bonds at attractive rates. Our pension plan remains overfunded, requiring no additional contributions for the foreseeable future.\" Adamczyk concluded, \"I am proud of Honeywell's longstanding ability to adapt to and deliver in any type of economic environment, and I am confident in our ability to execute in these uncertain times.Our businesses serve a diverse set of end markets and we continue to invest in innovation for long-term growth, including quantum computing, the Honeywell Forge enterprise performance management software platform, and sustainable next-generation products. Honeywell is actively managing through the downturn and is well-positioned for the economic recovery to come.\" Due to the evolving nature of the COVID-19 pandemic and related supply chain and market disruptions, Honeywell announced that it has temporarily suspended its full-year financial guidance until the economic impact of COVID-19 stabilizes. The company expects ongoing top-line challenges due to the current market conditions, particularly in the aerospace and oil and gas sectors. First-Quarter Performance Honeywellsales for the first quarter were down 5% on a reported basis and down 4% on an organic basis. The difference between reported and organic sales primarily relates to the impact of foreign currency translation. The first-quarter financial results can be found in Tables 1 and 2. Aerospacesales for the first quarter were up 1% on an organic basis driven by continued strength in the Defense and Space business and growth in air transport commercial aftermarket, partially offset by lower air transport original equipment demand.Segment margin expanded 280 basis points to 27.9%, primarily driven by favorable sales mix and commercial excellence. Honeywell Building Technologiessales for the first quarter were down 6% on an organic basis as flat sales in commercial fire were offset by softness in building solutions projects and volume declines in security and building management products. Segment margin expanded 100 basis points to 20.5%, primarily driven by commercial and operational excellence. Performance Materials and Technologies sales for the first quarter were down 5% on an organic basis driven by supply chain disruptions and decreased products demand in Process Solutions; headwinds related to the continued illegal imports of hydrofluorocarbons (HFCs) into Europe, and lower automotive refrigerant volumes in Advanced Materials; and lower gas processing volumes in UOP, partially offset by higher demand for equipment. Segment margin contracted 50 basis points to 21.4%, primarily driven by unfavorable sales mix related to higher equipment demand, partially offset by commercial excellence. Safety and Productivity Solutionssales for the first quarter were down 9% on an organic basis driven by lower sales volumes in sensing and IoT, the impact of major systems project timing in Intelligrated, and lower demand for gas sensing products, more than offsetting increased demand for respiratory personal protective equipment. SPS orders were up double-digits in the first quarter, led by demand for PPE and strong Intelligrated bookings, resulting in backlog that is up over 30% year-over-year.Segment margin contracted 90 basis points to 12.5%, primarily driven by lower sales volumes, partially offset by productivity, net of inflation. Conference Call Details Honeywell will discuss its first-quarter results and second-quarter outlook during an investor conference call starting at 8:30 a.m. Eastern Daylight Time today. To participate on the conference call, please dial (866) 548-4713 (domestic) or (323) 794-2093 (international) approximately ten minutes before the 8:30 a.m. EDT start.Please mention to the operator that you are dialing in for Honeywell's first-quarter 2020 earnings call or provide the conference code HON1Q20. The live webcast of the investor call as well as related presentation materials will be available through the Investor Relations section of the company's website (www.honeywell.com/investor). Investors can hear a replay of the conference call from 12:30 p.m. EDT, May 1, until 12:30 p.m. EDT, May 8, by dialing (888) 203-1112 (domestic) or (719) 457-0820 (international). The access code is 4293414. TABLE 1: SUMMARY OF HONEYWELL FINANCIAL RESULTS 1Q 2020 1Q 2019 Change Sales 8,463 8,884 (5%) Organic Growth (4%) Segment Margin 21.8% 20.4% 140 bps Operating Income Margin 20.0% 18.5% 150 bps Earnings Per Share $2.21 $1.92 15% Cash Flow from Operations 939 1,134 (17%) Free Cash Flow 800 993 (19%) Adjusted Free Cash Flow1 800 1,158 (31%) TABLE 2: SUMMARY OF SEGMENT FINANCIAL RESULTS AEROSPACE 1Q 2020 1Q 2019 Change Sales 3,361 3,341 1% Organic Growth 1% Segment Profit 937 838 12% Segment Margin 27.9% 25.1% 280 bps HONEYWELL BUILDING TECHNOLOGIES Sales 1,281 1,389 (8%) Organic Growth (6%) Segment Profit 262 271 (3%) Segment Margin 20.5% 19.5% 100 bps PERFORMANCE MATERIALS AND TECHNOLOGIES Sales 2,397 2,572 (7%) Organic Growth (5%) Segment Profit 512 564 (9%) Segment Margin 21.4% 21.9% -50 bps SAFETY AND PRODUCTIVITY SOLUTIONS Sales 1,424 1,582 (10%) Organic Growth (9%) Segment Profit 178 212 (16%) Segment Margin 12.5% 13.4% -90 bps 1Adjusted free cash flow and adjusted free cash flow V% exclude impacts from separation costs related to the spin-offs of $165M in 1Q19 Honeywell (www.honeywell.com) is a Fortune 100 technology company that delivers industry specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help everything from aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom. This release contains certain statements that may be deemed \"forward-looking statements\" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, technological, and COVID-19 public health factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, and other developments, including the potential impact of the COVID-19 pandemic, and business decisions may differ from those envisaged by such forward-looking statements. Any forward-looking plans described herein are not final and may be modified or abandoned at any time. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission. This release contains financial measures presented on a non-GAAP basis. Honeywell's non-GAAP financial measures used in this release are as follows: segment profit, on an overall Honeywell basis, a measure by which we assess operating performance, which we define as operating income adjusted for certain items as presented in the Appendix; segment margin, on an overall Honeywell basis, which we define as segment profit divided by sales; organic sales growth, which we define as sales growth less the impacts from foreign currency translation, and acquisitions and divestitures for the first 12 months following transaction date; free cash flow, which we define as cash flow from operations less capital expenditures; and adjusted free cash flow, which we define as cash flow from operations less capital expenditures and which we adjust to exclude the impact of separation costs related to the spin-offs of Resideo and Garrett, if and as noted in the release.Management believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. These metrics should be considered in addition to, and not as replacements for, the most comparable GAAP measure. Refer to the Appendix attached to this release for reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures. Honeywell International Inc. Consolidated Statement of Operations (Unaudited) (Dollars in millions, except per share amounts) Three Months Ended March 31, 2020 2019 Product sales $ 6,305 $ 6,713 Service sales 2,158 2,171 Net sales 8,463 8,884 Costs, expenses and other Cost of products sold (1) 4,374 4,622 Cost of services sold (1) 1,160 1,257 5,534 5,879 Selling, general and administrative expenses (1) 1,238 1,363 Other (income) expense (317) (285) Interest and other financial charges 73 85 6,528 7,042 Income before taxes 1,935 1,842 Tax expense (benefit) 329 406 Net income 1,606 1,436 Less: Net income attributable to the noncontrolling interest 25 20 Net income attributable to Honeywell $ 1,581 $ 1,416 Earnings per share of common stock - basic $ 2.23 $ 1.94 Earnings per share of common stock - assuming dilution $ 2.21 $ 1.92 Weighted average number of shares outstanding - basic 709.6 729.7 Weighted average number of shares outstanding - assuming dilution 717.0 738.8 (1) Cost of products and services sold and selling, general and administrative expenses include amounts for repositioning and other charges, the service cost component of pension and other postretirement (income) expense, and stock compensation expense. Honeywell International Inc. Segment Data (Unaudited) (Dollars in millions) Three Months Ended March 31, Net Sales 2020 2019 Aerospace $ 3,361 $ 3,341 Honeywell Building Technologies 1,281 1,389 Performance Materials and Technologies 2,397 2,572 Safety and Productivity Solutions 1,424 1,582 Total $ 8,463 $ 8,884 Reconciliation of Segment Profit to Income Before Taxes Three Months Ended March 31, Segment Profit 2020 2019 Aerospace $ 937 $ 838 Honeywell Building Technologies 262 271 Performance Materials and Technologies 512 564 Safety and Productivity Solutions 178 212 Corporate (41) (76) Total segment profit 1,848 1,809 Interest and other financial charges (73) (85) Stock compensation expense (1) (44) (41) Pension ongoing income (2) 198 151 Other postretirement income (2) 13 12 Repositioning and other charges (3,4) (62) (84) Other (5) 55 80 Income before taxes $ 1,935 $ 1,842 (1) Amounts included in Selling, general and administrative expenses. (2) Amounts included in Cost of products and services sold and Selling, general and administrative expenses (service costs) and Other income/expense (non-service cost components). (3) Amounts included in Cost of products and services sold, Selling, general and administrative expenses, and Other income/expense. (4) Includes repositioning, asbestos, and environmental expenses. (5) Amounts include the other components of Other income/expense not included within other categories in this reconciliation. Equity income (loss) of affiliated companies is included in segment profit. Honeywell International Inc. Consolidated Balance Sheet (Unaudited) (Dollars in millions) March 31, 2020 December 31, 2019 ASSETS Current assets: Cash and cash equivalents $ 7,721 $ 9,067 Short-term investments 1,070 1,349 Accounts receivable - net 7,452 7,493 Inventories 4,584 4,421 Other current assets 1,786 1,973 Total current assets 22,613 24,303 Investments and long-term receivables 613 588 Property, plant and equipment - net 5,214 5,325 Goodwill 15,282 15,563 Other intangible assets - net 3,580 3,734 Insurance recoveries for asbestos related liabilities 383 392 Deferred income taxes 71 86 Other assets 9,666 8,688 Total assets $ 57,422 $ 58,679 LIABILITIES Current liabilities: Accounts payable $ 5,676 $ 5,730 Commercial paper and other short-term borrowings 3,528 3,516 Current maturities of long-term debt 1,042 1,376 Accrued liabilities 7,131 7,476 Total current liabilities 17,377 18,098 Long-term debt 11,542 11,110 Deferred income taxes 1,670 1,670 Postretirement benefit obligations other than pensions 314 326 Asbestos related liabilities 1,948 1,996 Other liabilities 6,699 6,766 Redeemable noncontrolling interest 7 7 Shareowners' equity 17,865 18,706 Total liabilities, redeemable noncontrolling interest and shareowners' equity $ 57,422 $ 58,679 Honeywell International Inc. Consolidated Statement of Cash Flows (Unaudited) (Dollars in millions) Three Months Ended March 31, 2020 2019 Cash flows from operating activities: Net income $ 1,606 $ 1,436 Less: Net income attributable to the noncontrolling interest 25 20 Net income attributable to Honeywell 1,581 1,416 Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities: Depreciation 153 163 Amortization 90 98 Repositioning and other charges 62 84 Net payments for repositioning and other charges (111) (34) Pension and other postretirement income (212) (163) Pension and other postretirement benefit payments (14) (30) Stock compensation expense 44 41 Deferred income taxes (58) 80 Other (179) (4) Changes in assets and liabilities, net of the effects of acquisitions and divestitures: Accounts receivable 41 198 Inventories (163) (221) Other current assets 166 (217) Accounts payable (54) (29) Accrued liabilities (407) (248) Net cash provided by (used for) operating activities 939 1,134 Cash flows from investing activities: Expenditures for property, plant and equipment (139) (141) Proceeds from disposals of property, plant and equipment 7 2 Increase in investments (648) (1,226) Decrease in investments 843 796 Receipts (payments) from settlements of derivative contracts 287 (40) Net cash provided by (used for) investing activities 350 (609) Cash flows from financing activities: Proceeds from issuance of commercial paper and other short-term borrowings 3,455 3,318 Payments of commercial paper and other short-term borrowings (3,373) (3,319) Proceeds from issuance of common stock 66 145 Proceeds from issuance of long-term debt 1,127 20 Payments of long-term debt (1,125) (13) Repurchases of common stock (1,923) (750) Cash dividends paid (635) (606) Other (38) (30) Net cash provided by (used for) financing activities (2,446) (1,235) Effect of foreign exchange rate changes on cash and cash equivalents (189) 48 Net increase (decrease) in cash and cash equivalents (1,346) (662) Cash and cash equivalents at beginning of period 9,067 9,287 Cash and cash equivalents at end of period $ 7,721 $ 8,625 Honeywell International Inc. Reconciliation of Organic Sales % Change (Unaudited) Three Months Ended March 31, 2020 Honeywell Reported sales % change (5)% Less: Foreign currency translation (1)% Less: Acquisitions, divestitures and other, net % Organic sales % change (4)% Aerospace Reported sales % change 1% Less: Foreign currency translation % Less: Acquisitions, divestitures and other, net % Organic sales % change 1% Honeywell Building Technologies Reported sales % change (8)% Less: Foreign currency translation (2)% Less: Acquisitions, divestitures and other, net % Organic sales % change (6)% Performance Materials and Technologies Reported sales % change (7)% Less: Foreign currency translation (2)% Less: Acquisitions, divestitures and other, net % Organic sales % change (5)% Safety and Productivity Solutions Reported sales % change (10)% Less: Foreign currency translation (1)% Less: Acquisitions, divestitures and other, net % Organic sales % change (9)% We define organic sales percent as the year-over-year change in reported sales relative to the comparable period, excluding the impact on sales from foreign currency translation and acquisitions, net of divestitures. We believe this measure is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. Honeywell International Inc. Reconciliation of Segment Profit to Operating Income and Calculation of Segment Profit and Operating Income Margins (Unaudited) (Dollars in millions) Three Months Ended March 31, 2020 2019 Segment profit $ 1,848 $ 1,809 Stock compensation expense (1) (44) (41) Repositioning, Other (2,3) (74) (93) Pension and other postretirement service costs (4) (39) (33) Operating income $ 1,691 $ 1,642 Segment profit $ 1,848 $ 1,809 Net sales $ 8,463 $ 8,884 Segment profit margin % 21.8 % 20.4 % Operating income $ 1,691 $ 1,642 Net sales $ 8,463 $ 8,884 Operating income margin % 20.0 % 18.5 % (1) Included in Selling, general and administrative expenses. (2) Includes repositioning, asbestos, environmental expenses and equity income adjustment. (3) Included in Cost of products and services sold, Selling, general and administrative expenses and Other income/expense. (4) Included in Cost of products and services sold and Selling, general and administrative expenses. We define segment profit as operating income, excluding stock compensation expense, pension and other postretirement service costs, and repositioning and other charges. We believe these measures are useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. Honeywell International Inc. Reconciliation of Cash Provided by Operating Activities to Adjusted Free Cash Flow (Unaudited) (Dollars in millions) Three Months EndedMarch 31, 2020 Three Months EndedMarch 31, 2019 Cash provided by operating activities $ 939 $ 1,134 Expenditures for property, plant and equipment (139) (141) Free cash flow 800 993 Separation cost payments 165 Adjusted free cash flow $ 800 $ 1,158 We define free cash flow as cash provided by operating activities less cash expenditures for property, plant and equipment. We believe that this metric is useful to investors and management as a measure of cash generated by business operations that will be used to repay scheduled debt maturities and can be used to invest in future growth through new business development activities or acquisitions, pay dividends, repurchase stock or repay debt obligations prior to their maturities. This metric can also be used to evaluate our ability to generate cash flow from business operations and the impact that this cash flow has on our liquidity. Contacts: Media Investor Relations Nina Krauss Mark Bendza (704) 627-6035 (704) 627-6200 [emailprotected] [emailprotected] SOURCE Honeywell Related Links http://www.honeywell.com"
Chinese News:
5月6日，霍尼韦尔(纽交所代码： HON)公布2020年第一季度的财务业绩，受到新冠肺炎疫情重大影响，霍尼韦尔个人防护业务大幅增长，但其业务占比过小，无法抵消其他业务受疫情下滑的影响。霍尼韦尔第一季度销售额84.63亿美元，同比下滑5%；每股收益2.21美元；营运利润上涨3%，部门利润上涨2%；营运现金流9亿美元，自由现金流8亿美元。“尽管新冠肺炎疫情给我们带来了巨大的挑战，但霍尼韦尔完成了第一季度的收益承诺，每股收益增长15%。”霍尼韦尔董事长兼首席执行官杜瑞哲说，“随着新冠肺炎疫情迅速蔓延，全球经济恶化，我们业务都面临不利因素，包括我们供应链的急剧变化、客户现场受限以及商用航空、石油和天然气终端市场所受的重大影响。这些挑战导致我们该季度内生 式销售额下降。但我们立即采取行动以减轻新冠肺炎疫情带来的影响，并继续为客户提供服务，这包括响应疫情防控工作的客户，同时确保我们 员工的安全。”受疫情影响，在个人防护设备的需求依旧强劲情况下，霍尼韦尔扩大了产能。杜瑞哲说，“我们已经宣布在美国新设立两个N95口罩生产基地，每月将生产2000万个口罩，并创造约1000个新工作岗位。我们同时还迅速提升包括护目镜、防护面罩在内的其他个人防护设备产量。 我们的医疗传感器已广泛应用于呼吸机中，并且我们已经大大提升了传感器产量，以满足需求。我们还在两家工厂改造生产线，以生产洗手液并 将其捐赠给政府机构。在美国，我们将其捐赠给联邦应急管理局(FEMA)。”“我们已做好充分准备，通过强大的资产负债表、严格执行成本控制以 及现金增值的能力来应对经济衰退。我们手头上有近90亿美元的现金和短期投资，并且在3月份，我们通过签署一项为期两年、价值60亿美元的贷款协议，进一步提升了财务灵活性，并以具有吸引力的利率为10亿欧元债券进行再融资。我们的养老金计划仍然资金充裕，在可预见的将来不需 要额外的供款。”受当前市场状况影响，尤其是航空航天以及石油和天然气行业，霍尼韦尔预期将面临不断的销售业绩挑战。在霍尼韦尔四大业务中，口罩所在的安全与生产力解决方案集团业务部占比是较小的。第一季度内生式销售额下降9%，营收14.24亿美元。尽管个人防护设备需求猛增，但传感和工业物联销售下降，Intelligrated大型系统项目进度控制受影响，气体传感产品需求下降。由于个人防护设备需求上涨以及Intelligrated强劲的预定，该业务集团一季度订单实现两位数增长，导致订单储存同比上涨达到30%。部门利润率下降90个基点至12.5%，主要受销售下降影响，部分被生产率所抵消，不考虑通货膨胀因素。霍尼韦尔营收占比最大的航空航天集团业务在第一季度实现内生式销售额增长1%，营收33.61亿美元。霍尼韦尔方面称这主要归功于防务和航天业务持续的强劲表现，以及空中交通运输商用售后市场的增长，但被商用航空原始设备需求下 降所部分抵消。部门利润率上涨280个基点至27.9%，主要得益于商业运营和有利的销售组合。智能建筑科技集团第一季度内生式销售额下降6%， 营收12.81亿美元。商用消防销售持平，但建筑智能系统项目放缓，安防和建筑管理产品销售下降。特性材料和技术集团第一季度内生式销售额下降5%，营收23.97亿美元。原因在于过程控制部业务受供应链影响以及产品需求下降；高性能材料业务受欧洲市场持续非法进口氢氟烃(HFC)影响 以及汽车制冷剂销售下降；UOP气体处理量下滑，部分被设备需求增长所抵消。部门利润率下降50个基点至21.4%，主要原因在于设备需求上升导 致不利的销售组合。
Japanese News:
湖北省武漢市で設けられた米複合企業ハネウェル社の完全子会社であるハネウェル新興市場本部とイノベーションセンターが19日、オープンしました。 新型コロナウイルス感染症の終息後、世界500強企業が、中国に進出するのはこれが初めてです。 ハネウェル社は航空産業向けの製品やサービス、建築、産業用制御技術、特殊材料などの分野におけるハイテクソリューション事業を展開しています。 同社・中国エリアの責任者・張宇峰氏は「武漢を2回訪れた。光谷ソフトウェアパークにあるイノベーション企業が非常に素晴らしい。彼らの革新的な製品、ソリューション、人材の誘致、投資環境は非常に優れている。ここでは新しい製品ラインをたくさん開発できると思う」と述べました。 一方、武漢東湖新技術開発区管理委員会の陳平主任は、 「武漢にとってこの春は大変なひと時であったが、無事に世界500強の企業を迎えた。この会社が新しい完全子会社を率先して感染症終息後の武漢に設立することは、武漢にとって自信を高める非常に重要な措置だ。サービスをさらに改善し、一流のビジネス環境を整え、最も便利なサービスを提供するとともに、外資企業が中国で新たな発展を迎えるために最適なサービスを提供する」と述べました。
Spanish News:
Honeywell (NYSE:HON) presentó el Viernes sus beneficios correspondientes al primer trimestre del año, cifras que superaron las previsiones de los analistas. Los ingresos, por su parte, se situaron por debajo de lo esperado. La compañía presentó un beneficio por acción de $2,21 y una facturación de $8,46B. Los analistas encuestados por Investing.com esperaban un BPA de $1,96 y unos ingresos de $8,6B, en comparación con el BPA de $1,92 y los ingresos de $8,88B que obtuvo en el mismo periodo del año anterior. En el trimestre anterior, la compañía registró un BPA de $2,06 y unos ingresos de $9,5B. En lo que llevamos de año, la acción de Honeywell desciende un 19%, por debajo de lo esperado al S&P 500, lo que representa una caída del 10%. Con sus cifras, Honeywell se une este mes a otras grandes del sector Bienes de capital . El pasado 15 de abril, ASML ADR presentó un BPA para el primer trimestre del año de $0,93 y unos ingresos de $2,44B, frente a la previsión de BPA de $1,47 y de ingresos de $3,17B. Los beneficios de Lockheed Martin superaron las previsiones de los analistas lanzadas el pasado 21 de abril, con un BPA para el primer trimestre de $6,08 y unos ingresos de $15,65B. Los analistas encuestados por Investing.com esperaban un BPA de $5,81 y unos ingresos de $15,08B. Manténgase al día de todas las cifras empresariales visitando nuestro Calendario de Resultados.
Greek News:
Η εταιρία κολοσσός Honeywell εστιάζει σε καινοτόμες τεχνολογίες καυσίμων και μεταφορών, εντείνοντας τις προσπάθειες της για βιωσιμότητα. Χρησιμοποιώντας μη βιώσιμα φυτά όπως τα φύκη και η γιατρόφα αλλά και απορρίματα, παράγει πράσινα καύσιμα και πετυχαίνει σημαντικές μειώσεις στις εκπομπές αερίων του θερμοκηπίου. Συγκεκριμένα, τα πράσινα αεροπορικά καύσιμα που αναπτύσσει προσφέρουν έως και 85% χαμηλότερες εκπομπές καθ' όλο τον κύκλο ζωής τους, ενώ παρόμοια ποσοστά επιτυγχάνονται και στα καύσιμα για οδικές και θαλάσσιες μεταφορές. Αυτές οι λύσεις συμβάλλουν ουσιαστικά στην απαθρακοποίηση του ευρύτερου τομέα των μεταφορών. Επίσης στον κλάδο της αεροπορίας, η εταιρία αναπτύσσει τεχνολογίες οι οποίες επιδιώκουν την παράλληλη αύξηση της χωρητικότητας και τη μείωση των εκπομπών. Το λογισμικό Honeywell Forge επιτρέπει τις λειτουργίες των πτήσεων να είναι πιο αποδοτικές, οδηγώντας έτσι σε μείωση της κατανάλωσης ενέργειας έως και 5% ανά διαδρομή. Επιπλέον, τα ηλεκτρικά και υβριδικά-ηλεκτρικά συστήματα πτήσης που αναπτύσσει η εταιρία στοχεύουν στον περιορισμό των εκπομπών σε κρίσιμες φάσεις, όπως η απογείωση και η προσγείωση, βελτιώνοντας τις περιβαλλοντικές επιδόσεις σε αστικά περιβάλλοντα. Παράλληλα με τα παραπάνω μέτρα, που έχουν ώς κύριο τους μέρισμα το περιβαλλοντικό αντίκτυπο της εταιρίας, η Honeywell ενισχύει την στρατηγική της παρουσία και στον αμυντικό τομέα. Συγκεκριμένα, εξασφάλισε συμβόλαιο $99,1 εκατομμυρίων με την Πολεμική Αεροπορία των ΗΠΑ. Το έργο αφορά τον εκσυγχρονισμό του συστήματος πλοήγησης EGI-M, το οποίο αποτελεί τεχνολογική πλατφόρμα για στρατιωτικά αεροσκάφη. Η ικανότητα του να λειτουργεί χωρίς εξάρτηση από GPS το καθιστά κρίσιμο για επιχειρήσεις σε περιβάλλοντα υψηλού κινδύνου, ενώ η υλοποίηση του έργου στη πόλη Clearwater της Florida, αναμένεται να ολοκληρωθεί μέχρι τα μέσα του 2024.
Question:
How is the company allocating capital (e.g., investments, share repurchases, dividends) based on its performance and market outlook from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | How is the company allocating capital (e.g., investments, share repurchases, dividends) based on its performance and market outlook from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: Honeywell secured a $6B term loan, refinanced $1B in bonds, and reported nearly $9B in cash and short-term investments. It also invested in N95 mask production and hand sanitizer facilities in response to COVID-19.
Financial Statement Evidence: In Q1 FY2020, Honeywell spent $2.0B on share repurchases, paid $635M in dividends, and invested $139M in capital expenditures. This reflects a balanced capital return and investment strategy amid cautious economic conditions. |
HON_20200501 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 |
|:------------------------------------------------------------------------------|:----------------------|:-----------|:------------------|:-----------|:-----------|:-----------|:-----------|
| | | | | | | | |
| | | | | | | | |
| | March 31, 2020 | | December 31, 2019 | | | | |
| | (Dollars in millions) | | | | | | |
| ASSETS | | | | | | | |
| Current assets: | | | | | | | |
| Cash and cash equivalents | $ | 7,721 | | | $ | 9,067 | |
| Short-term investments | 1,070 | | | 1,349 | | | |
| Accounts receivable - net | 7,452 | | | 7,493 | | | |
| Inventories | 4,584 | | | 4,421 | | | |
| Other current assets | 1,786 | | | 1,973 | | | |
| Total current assets | 22,613 | | | 24,303 | | | |
| Investments and long-term receivables | 613 | | | 588 | | | |
| Property, plant and equipment - net | 5,214 | | | 5,325 | | | |
| Goodwill | 15,282 | | | 15,563 | | | |
| Other intangible assets - net | 3,580 | | | 3,734 | | | |
| Insurance recoveries for asbestos related liabilities | 383 | | | 392 | | | |
| Deferred income taxes | 71 | | | 86 | | | |
| Other assets | 9,666 | | | 8,688 | | | |
| Total assets | $ | 57,422 | | | $ | 58,679 | |
| LIABILITIES | | | | | | | |
| Current liabilities: | | | | | | | |
| Accounts payable | $ | 5,676 | | | $ | 5,730 | |
| Commercial paper and other short-term borrowings | 3,528 | | | 3,516 | | | |
| Current maturities of long-term debt | 1,042 | | | 1,376 | | | |
| Accrued liabilities | 7,131 | | | 7,476 | | | |
| Total current liabilities | 17,377 | | | 18,098 | | | |
| Long-term debt | 11,542 | | | 11,110 | | | |
| Deferred income taxes | 1,670 | | | 1,670 | | | |
| Postretirement benefit obligations other than pensions | 314 | | | 326 | | | |
| Asbestos related liabilities | 1,948 | | | 1,996 | | | |
| Other liabilities | 6,699 | | | 6,766 | | | |
| Redeemable noncontrolling interest | 7 | | | 7 | | | |
| SHAREOWNERS’ EQUITY | | | | | | | |
| Capital - common stock issued | 958 | | | 958 | | | |
| - additional paid-in capital | 7,047 | | | 6,876 | | | |
| Common stock held in treasury, at cost | (25,643 | ) | | (23,836 | ) | | |
| Accumulated other comprehensive loss | (3,353 | ) | | (3,197 | ) | | |
| Retained earnings | 38,635 | | | 37,693 | | | |
| Total Honeywell shareowners’ equity | 17,644 | | | 18,494 | | | |
| Noncontrolling interest | 221 | | | 212 | | | |
| Total shareowners’ equity | 17,865 | | | 18,706 | | | |
| Total liabilities, redeemable noncontrolling interest and shareowners’ equity | $ | 57,422 | | | $ | 58,679 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 |
|:------------------------------------------------------------------------------------------------------------|:-----------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|
| | | | | | | | |
| | | | | | | | |
| | Three Months Ended March 31, | | | | | | |
| | 2020 | | 2019 | | | | |
| | (Dollars in millions) | | | | | | |
| Cash flows from operating activities: | | | | | | | |
| Net income | $ | 1,606 | | | $ | 1,436 | |
| Less: Net income attributable to the noncontrolling interest | 25 | | | 20 | | | |
| Net income attributable to Honeywell | 1,581 | | | 1,416 | | | |
| Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities: | | | | | | | |
| Depreciation | 153 | | | 163 | | | |
| Amortization | 90 | | | 98 | | | |
| Repositioning and other charges | 62 | | | 84 | | | |
| Net payments for repositioning and other charges | (111 | ) | | (34 | ) | | |
| Pension and other postretirement income | (212 | ) | | (163 | ) | | |
| Pension and other postretirement benefit payments | (14 | ) | | (30 | ) | | |
| Stock compensation expense | 44 | | | 41 | | | |
| Deferred income taxes | (58 | ) | | 80 | | | |
| Other | (179 | ) | | (4 | ) | | |
| Changes in assets and liabilities, net of the effects of acquisitions and divestitures: | | | | | | | |
| Accounts receivable | 41 | | | 198 | | | |
| Inventories | (163 | ) | | (221 | ) | | |
| Other current assets | 166 | | | (217 | ) | | |
| Accounts payable | (54 | ) | | (29 | ) | | |
| Accrued liabilities | (407 | ) | | (248 | ) | | |
| Net cash provided by (used for) operating activities | 939 | | | 1,134 | | | |
| Cash flows from investing activities: | | | | | | | |
| Expenditures for property, plant and equipment | (139 | ) | | (141 | ) | | |
| Proceeds from disposals of property, plant and equipment | 7 | | | 2 | | | |
| Increase in investments | (648 | ) | | (1,226 | ) | | |
| Decrease in investments | 843 | | | 796 | | | |
| Receipts (payments) from settlements of derivative contracts | 287 | | | (40 | ) | | |
| Net cash provided by (used for) investing activities | 350 | | | (609 | ) | | |
| Cash flows from financing activities: | | | | | | | |
| Proceeds from issuance of commercial paper and other short-term borrowings | 3,455 | | | 3,318 | | | |
| Payments of commercial paper and other short-term borrowings | (3,373 | ) | | (3,319 | ) | | |
| Proceeds from issuance of common stock | 66 | | | 145 | | | |
| Proceeds from issuance of long-term debt | 1,127 | | | 20 | | | |
| Payments of long-term debt | (1,125 | ) | | (13 | ) | | |
| Repurchases of common stock | (1,923 | ) | | (750 | ) | | |
| Cash dividends paid | (635 | ) | | (606 | ) | | |
| Other | (38 | ) | | (30 | ) | | |
| Net cash provided by (used for) financing activities | (2,446 | ) | | (1,235 | ) | | |
| Effect of foreign exchange rate changes on cash and cash equivalents | (189 | ) | | 48 | | | |
| Net increase (decrease) in cash and cash equivalents | (1,346 | ) | | (662 | ) | | |
| Cash and cash equivalents at beginning of period | 9,067 | | | 9,287 | | | |
| Cash and cash equivalents at end of period | $ | 7,721 | | | $ | 8,625 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 |
|:-------------------------------------------------------------|:------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|
| | | | | | | | |
| | | | | | | | |
| | Three Months Ended March 31, | | | | | | |
| | 2020 | | 2019 | | | | |
| | (Dollars in millions, except per share amounts) | | | | | | |
| Product sales | $ | 6,305 | | | $ | 6,713 | |
| Service sales | 2,158 | | | 2,171 | | | |
| Net sales | 8,463 | | | 8,884 | | | |
| Costs, expenses and other | | | | | | | |
| Cost of products sold | 4,374 | | | 4,622 | | | |
| Cost of services sold | 1,160 | | | 1,257 | | | |
| | 5,534 | | | 5,879 | | | |
| Selling, general and administrative expenses | 1,238 | | | 1,363 | | | |
| Other (income) expense | (317 | ) | | (285 | ) | | |
| Interest and other financial charges | 73 | | | 85 | | | |
| | 6,528 | | | 7,042 | | | |
| Income before taxes | 1,935 | | | 1,842 | | | |
| Tax expense (benefit) | 329 | | | 406 | | | |
| Net income | 1,606 | | | 1,436 | | | |
| Less: Net income attributable to the noncontrolling interest | 25 | | | 20 | | | |
| Net income attributable to Honeywell | $ | 1,581 | | | $ | 1,416 | |
| Earnings per share of common stock - basic | $ | 2.23 | | | $ | 1.94 | |
| Earnings per share of common stock - assuming dilution | $ | 2.21 | | | $ | 1.92 | |
---
English News:
"Honeywell Delivers Margin Expansion Of Over 140 Basis Points And Earnings Per Share Of $2.21, Up 15% - CHARLOTTE, N.C., May1, 2020 /PRNewswire/ --Honeywell (NYSE: HON) today announced strong earnings growth for the first quarter of 2020 despite significant impacts from the COVID-19 pandemic. The company reported first-quarter earnings per share of $2.21, above guidance, operating profit growth of 3%, segment profit growth of 2%, and segment margin expansion of 140 basis points, all of which were at or above first-quarter guidance, with sales down 5%, or 4% organically. \"Honeywell delivered on our original earnings commitment for the first quarter, with EPS growth of 15% despite the substantial challenges we faced due to the COVID-19 pandemic. We remain focused on the strong operational excellence principles that underlie everything we do, and that discipline enabled us to achieve earnings growth in a challenging first quarter,\" said Darius Adamczyk, chairman and chief executive officer of Honeywell. \"As the COVID-19 pandemic rapidly escalated and the global economy deteriorated, we faced headwinds across our businesses, including rapid changes in our supply chain, constraints at customer sites, and significant impacts on the commercial aerospace and oil and gas end markets. These challenges drove an organic sales decline in the quarter. However, we acted quickly to mitigate the impacts and we continued to serve our customers, including those involved in the COVID-19 response efforts, while ensuring the safety of our employees.\" \"The safety of our employees is our top priority,\" Adamczyk said. \"We have announced that Honeywell will pay for COVID-19 testing costs that are not covered by our employees' insurance and will pay out-of-pocket treatment costs for those enrolled in the Honeywell medical plan. We have also provided a full year of paid sick time up-front to U.S. non-exempt employees and have announced a $10 million relief fund to help employees that are in financial distress. In addition, Honeywell is playing a critical role in keeping medical professionals safe. We have announced two new manufacturing sites for N95 respiratory masks in the United States. Between these two locations, we will produce 20 million respiratory masks per month and create about 1,000 new jobs. We are also quickly ramping up production of other personal protective equipment, including safety eyewear and face shields. Our medical sensors are widely used in ventilators, and we have significantly increased our sensor production to address demand. In addition, we are shifting manufacturing operations at two facilities to produce and donate hand sanitizer to government agencies. Within the United States, our donation will go to the Federal Emergency Management Agency (FEMA).\" Adamczyk continued, \"We are well-prepared to manage the downturn with a strong balance sheet and execution rigor focused on cost control and cash generation. We have nearly $9 billion of cash and short-term investments on hand and, in March, we further enhanced our financial flexibility by entering into a $6 billion two-year term loan and refinanced 1 billion of bonds at attractive rates. Our pension plan remains overfunded, requiring no additional contributions for the foreseeable future.\" Adamczyk concluded, \"I am proud of Honeywell's longstanding ability to adapt to and deliver in any type of economic environment, and I am confident in our ability to execute in these uncertain times.Our businesses serve a diverse set of end markets and we continue to invest in innovation for long-term growth, including quantum computing, the Honeywell Forge enterprise performance management software platform, and sustainable next-generation products. Honeywell is actively managing through the downturn and is well-positioned for the economic recovery to come.\" Due to the evolving nature of the COVID-19 pandemic and related supply chain and market disruptions, Honeywell announced that it has temporarily suspended its full-year financial guidance until the economic impact of COVID-19 stabilizes. The company expects ongoing top-line challenges due to the current market conditions, particularly in the aerospace and oil and gas sectors. First-Quarter Performance Honeywellsales for the first quarter were down 5% on a reported basis and down 4% on an organic basis. The difference between reported and organic sales primarily relates to the impact of foreign currency translation. The first-quarter financial results can be found in Tables 1 and 2. Aerospacesales for the first quarter were up 1% on an organic basis driven by continued strength in the Defense and Space business and growth in air transport commercial aftermarket, partially offset by lower air transport original equipment demand.Segment margin expanded 280 basis points to 27.9%, primarily driven by favorable sales mix and commercial excellence. Honeywell Building Technologiessales for the first quarter were down 6% on an organic basis as flat sales in commercial fire were offset by softness in building solutions projects and volume declines in security and building management products. Segment margin expanded 100 basis points to 20.5%, primarily driven by commercial and operational excellence. Performance Materials and Technologies sales for the first quarter were down 5% on an organic basis driven by supply chain disruptions and decreased products demand in Process Solutions; headwinds related to the continued illegal imports of hydrofluorocarbons (HFCs) into Europe, and lower automotive refrigerant volumes in Advanced Materials; and lower gas processing volumes in UOP, partially offset by higher demand for equipment. Segment margin contracted 50 basis points to 21.4%, primarily driven by unfavorable sales mix related to higher equipment demand, partially offset by commercial excellence. Safety and Productivity Solutionssales for the first quarter were down 9% on an organic basis driven by lower sales volumes in sensing and IoT, the impact of major systems project timing in Intelligrated, and lower demand for gas sensing products, more than offsetting increased demand for respiratory personal protective equipment. SPS orders were up double-digits in the first quarter, led by demand for PPE and strong Intelligrated bookings, resulting in backlog that is up over 30% year-over-year.Segment margin contracted 90 basis points to 12.5%, primarily driven by lower sales volumes, partially offset by productivity, net of inflation. Conference Call Details Honeywell will discuss its first-quarter results and second-quarter outlook during an investor conference call starting at 8:30 a.m. Eastern Daylight Time today. To participate on the conference call, please dial (866) 548-4713 (domestic) or (323) 794-2093 (international) approximately ten minutes before the 8:30 a.m. EDT start.Please mention to the operator that you are dialing in for Honeywell's first-quarter 2020 earnings call or provide the conference code HON1Q20. The live webcast of the investor call as well as related presentation materials will be available through the Investor Relations section of the company's website (www.honeywell.com/investor). Investors can hear a replay of the conference call from 12:30 p.m. EDT, May 1, until 12:30 p.m. EDT, May 8, by dialing (888) 203-1112 (domestic) or (719) 457-0820 (international). The access code is 4293414. TABLE 1: SUMMARY OF HONEYWELL FINANCIAL RESULTS 1Q 2020 1Q 2019 Change Sales 8,463 8,884 (5%) Organic Growth (4%) Segment Margin 21.8% 20.4% 140 bps Operating Income Margin 20.0% 18.5% 150 bps Earnings Per Share $2.21 $1.92 15% Cash Flow from Operations 939 1,134 (17%) Free Cash Flow 800 993 (19%) Adjusted Free Cash Flow1 800 1,158 (31%) TABLE 2: SUMMARY OF SEGMENT FINANCIAL RESULTS AEROSPACE 1Q 2020 1Q 2019 Change Sales 3,361 3,341 1% Organic Growth 1% Segment Profit 937 838 12% Segment Margin 27.9% 25.1% 280 bps HONEYWELL BUILDING TECHNOLOGIES Sales 1,281 1,389 (8%) Organic Growth (6%) Segment Profit 262 271 (3%) Segment Margin 20.5% 19.5% 100 bps PERFORMANCE MATERIALS AND TECHNOLOGIES Sales 2,397 2,572 (7%) Organic Growth (5%) Segment Profit 512 564 (9%) Segment Margin 21.4% 21.9% -50 bps SAFETY AND PRODUCTIVITY SOLUTIONS Sales 1,424 1,582 (10%) Organic Growth (9%) Segment Profit 178 212 (16%) Segment Margin 12.5% 13.4% -90 bps 1Adjusted free cash flow and adjusted free cash flow V% exclude impacts from separation costs related to the spin-offs of $165M in 1Q19 Honeywell (www.honeywell.com) is a Fortune 100 technology company that delivers industry specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help everything from aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom. This release contains certain statements that may be deemed \"forward-looking statements\" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, technological, and COVID-19 public health factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, and other developments, including the potential impact of the COVID-19 pandemic, and business decisions may differ from those envisaged by such forward-looking statements. Any forward-looking plans described herein are not final and may be modified or abandoned at any time. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission. This release contains financial measures presented on a non-GAAP basis. Honeywell's non-GAAP financial measures used in this release are as follows: segment profit, on an overall Honeywell basis, a measure by which we assess operating performance, which we define as operating income adjusted for certain items as presented in the Appendix; segment margin, on an overall Honeywell basis, which we define as segment profit divided by sales; organic sales growth, which we define as sales growth less the impacts from foreign currency translation, and acquisitions and divestitures for the first 12 months following transaction date; free cash flow, which we define as cash flow from operations less capital expenditures; and adjusted free cash flow, which we define as cash flow from operations less capital expenditures and which we adjust to exclude the impact of separation costs related to the spin-offs of Resideo and Garrett, if and as noted in the release.Management believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. These metrics should be considered in addition to, and not as replacements for, the most comparable GAAP measure. Refer to the Appendix attached to this release for reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures. Honeywell International Inc. Consolidated Statement of Operations (Unaudited) (Dollars in millions, except per share amounts) Three Months Ended March 31, 2020 2019 Product sales $ 6,305 $ 6,713 Service sales 2,158 2,171 Net sales 8,463 8,884 Costs, expenses and other Cost of products sold (1) 4,374 4,622 Cost of services sold (1) 1,160 1,257 5,534 5,879 Selling, general and administrative expenses (1) 1,238 1,363 Other (income) expense (317) (285) Interest and other financial charges 73 85 6,528 7,042 Income before taxes 1,935 1,842 Tax expense (benefit) 329 406 Net income 1,606 1,436 Less: Net income attributable to the noncontrolling interest 25 20 Net income attributable to Honeywell $ 1,581 $ 1,416 Earnings per share of common stock - basic $ 2.23 $ 1.94 Earnings per share of common stock - assuming dilution $ 2.21 $ 1.92 Weighted average number of shares outstanding - basic 709.6 729.7 Weighted average number of shares outstanding - assuming dilution 717.0 738.8 (1) Cost of products and services sold and selling, general and administrative expenses include amounts for repositioning and other charges, the service cost component of pension and other postretirement (income) expense, and stock compensation expense. Honeywell International Inc. Segment Data (Unaudited) (Dollars in millions) Three Months Ended March 31, Net Sales 2020 2019 Aerospace $ 3,361 $ 3,341 Honeywell Building Technologies 1,281 1,389 Performance Materials and Technologies 2,397 2,572 Safety and Productivity Solutions 1,424 1,582 Total $ 8,463 $ 8,884 Reconciliation of Segment Profit to Income Before Taxes Three Months Ended March 31, Segment Profit 2020 2019 Aerospace $ 937 $ 838 Honeywell Building Technologies 262 271 Performance Materials and Technologies 512 564 Safety and Productivity Solutions 178 212 Corporate (41) (76) Total segment profit 1,848 1,809 Interest and other financial charges (73) (85) Stock compensation expense (1) (44) (41) Pension ongoing income (2) 198 151 Other postretirement income (2) 13 12 Repositioning and other charges (3,4) (62) (84) Other (5) 55 80 Income before taxes $ 1,935 $ 1,842 (1) Amounts included in Selling, general and administrative expenses. (2) Amounts included in Cost of products and services sold and Selling, general and administrative expenses (service costs) and Other income/expense (non-service cost components). (3) Amounts included in Cost of products and services sold, Selling, general and administrative expenses, and Other income/expense. (4) Includes repositioning, asbestos, and environmental expenses. (5) Amounts include the other components of Other income/expense not included within other categories in this reconciliation. Equity income (loss) of affiliated companies is included in segment profit. Honeywell International Inc. Consolidated Balance Sheet (Unaudited) (Dollars in millions) March 31, 2020 December 31, 2019 ASSETS Current assets: Cash and cash equivalents $ 7,721 $ 9,067 Short-term investments 1,070 1,349 Accounts receivable - net 7,452 7,493 Inventories 4,584 4,421 Other current assets 1,786 1,973 Total current assets 22,613 24,303 Investments and long-term receivables 613 588 Property, plant and equipment - net 5,214 5,325 Goodwill 15,282 15,563 Other intangible assets - net 3,580 3,734 Insurance recoveries for asbestos related liabilities 383 392 Deferred income taxes 71 86 Other assets 9,666 8,688 Total assets $ 57,422 $ 58,679 LIABILITIES Current liabilities: Accounts payable $ 5,676 $ 5,730 Commercial paper and other short-term borrowings 3,528 3,516 Current maturities of long-term debt 1,042 1,376 Accrued liabilities 7,131 7,476 Total current liabilities 17,377 18,098 Long-term debt 11,542 11,110 Deferred income taxes 1,670 1,670 Postretirement benefit obligations other than pensions 314 326 Asbestos related liabilities 1,948 1,996 Other liabilities 6,699 6,766 Redeemable noncontrolling interest 7 7 Shareowners' equity 17,865 18,706 Total liabilities, redeemable noncontrolling interest and shareowners' equity $ 57,422 $ 58,679 Honeywell International Inc. Consolidated Statement of Cash Flows (Unaudited) (Dollars in millions) Three Months Ended March 31, 2020 2019 Cash flows from operating activities: Net income $ 1,606 $ 1,436 Less: Net income attributable to the noncontrolling interest 25 20 Net income attributable to Honeywell 1,581 1,416 Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities: Depreciation 153 163 Amortization 90 98 Repositioning and other charges 62 84 Net payments for repositioning and other charges (111) (34) Pension and other postretirement income (212) (163) Pension and other postretirement benefit payments (14) (30) Stock compensation expense 44 41 Deferred income taxes (58) 80 Other (179) (4) Changes in assets and liabilities, net of the effects of acquisitions and divestitures: Accounts receivable 41 198 Inventories (163) (221) Other current assets 166 (217) Accounts payable (54) (29) Accrued liabilities (407) (248) Net cash provided by (used for) operating activities 939 1,134 Cash flows from investing activities: Expenditures for property, plant and equipment (139) (141) Proceeds from disposals of property, plant and equipment 7 2 Increase in investments (648) (1,226) Decrease in investments 843 796 Receipts (payments) from settlements of derivative contracts 287 (40) Net cash provided by (used for) investing activities 350 (609) Cash flows from financing activities: Proceeds from issuance of commercial paper and other short-term borrowings 3,455 3,318 Payments of commercial paper and other short-term borrowings (3,373) (3,319) Proceeds from issuance of common stock 66 145 Proceeds from issuance of long-term debt 1,127 20 Payments of long-term debt (1,125) (13) Repurchases of common stock (1,923) (750) Cash dividends paid (635) (606) Other (38) (30) Net cash provided by (used for) financing activities (2,446) (1,235) Effect of foreign exchange rate changes on cash and cash equivalents (189) 48 Net increase (decrease) in cash and cash equivalents (1,346) (662) Cash and cash equivalents at beginning of period 9,067 9,287 Cash and cash equivalents at end of period $ 7,721 $ 8,625 Honeywell International Inc. Reconciliation of Organic Sales % Change (Unaudited) Three Months Ended March 31, 2020 Honeywell Reported sales % change (5)% Less: Foreign currency translation (1)% Less: Acquisitions, divestitures and other, net % Organic sales % change (4)% Aerospace Reported sales % change 1% Less: Foreign currency translation % Less: Acquisitions, divestitures and other, net % Organic sales % change 1% Honeywell Building Technologies Reported sales % change (8)% Less: Foreign currency translation (2)% Less: Acquisitions, divestitures and other, net % Organic sales % change (6)% Performance Materials and Technologies Reported sales % change (7)% Less: Foreign currency translation (2)% Less: Acquisitions, divestitures and other, net % Organic sales % change (5)% Safety and Productivity Solutions Reported sales % change (10)% Less: Foreign currency translation (1)% Less: Acquisitions, divestitures and other, net % Organic sales % change (9)% We define organic sales percent as the year-over-year change in reported sales relative to the comparable period, excluding the impact on sales from foreign currency translation and acquisitions, net of divestitures. We believe this measure is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. Honeywell International Inc. Reconciliation of Segment Profit to Operating Income and Calculation of Segment Profit and Operating Income Margins (Unaudited) (Dollars in millions) Three Months Ended March 31, 2020 2019 Segment profit $ 1,848 $ 1,809 Stock compensation expense (1) (44) (41) Repositioning, Other (2,3) (74) (93) Pension and other postretirement service costs (4) (39) (33) Operating income $ 1,691 $ 1,642 Segment profit $ 1,848 $ 1,809 Net sales $ 8,463 $ 8,884 Segment profit margin % 21.8 % 20.4 % Operating income $ 1,691 $ 1,642 Net sales $ 8,463 $ 8,884 Operating income margin % 20.0 % 18.5 % (1) Included in Selling, general and administrative expenses. (2) Includes repositioning, asbestos, environmental expenses and equity income adjustment. (3) Included in Cost of products and services sold, Selling, general and administrative expenses and Other income/expense. (4) Included in Cost of products and services sold and Selling, general and administrative expenses. We define segment profit as operating income, excluding stock compensation expense, pension and other postretirement service costs, and repositioning and other charges. We believe these measures are useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. Honeywell International Inc. Reconciliation of Cash Provided by Operating Activities to Adjusted Free Cash Flow (Unaudited) (Dollars in millions) Three Months EndedMarch 31, 2020 Three Months EndedMarch 31, 2019 Cash provided by operating activities $ 939 $ 1,134 Expenditures for property, plant and equipment (139) (141) Free cash flow 800 993 Separation cost payments 165 Adjusted free cash flow $ 800 $ 1,158 We define free cash flow as cash provided by operating activities less cash expenditures for property, plant and equipment. We believe that this metric is useful to investors and management as a measure of cash generated by business operations that will be used to repay scheduled debt maturities and can be used to invest in future growth through new business development activities or acquisitions, pay dividends, repurchase stock or repay debt obligations prior to their maturities. This metric can also be used to evaluate our ability to generate cash flow from business operations and the impact that this cash flow has on our liquidity. Contacts: Media Investor Relations Nina Krauss Mark Bendza (704) 627-6035 (704) 627-6200 [emailprotected] [emailprotected] SOURCE Honeywell Related Links http://www.honeywell.com"
Chinese News:
5月6日，霍尼韦尔(纽交所代码： HON)公布2020年第一季度的财务业绩，受到新冠肺炎疫情重大影响，霍尼韦尔个人防护业务大幅增长，但其业务占比过小，无法抵消其他业务受疫情下滑的影响。霍尼韦尔第一季度销售额84.63亿美元，同比下滑5%；每股收益2.21美元；营运利润上涨3%，部门利润上涨2%；营运现金流9亿美元，自由现金流8亿美元。“尽管新冠肺炎疫情给我们带来了巨大的挑战，但霍尼韦尔完成了第一季度的收益承诺，每股收益增长15%。”霍尼韦尔董事长兼首席执行官杜瑞哲说，“随着新冠肺炎疫情迅速蔓延，全球经济恶化，我们业务都面临不利因素，包括我们供应链的急剧变化、客户现场受限以及商用航空、石油和天然气终端市场所受的重大影响。这些挑战导致我们该季度内生 式销售额下降。但我们立即采取行动以减轻新冠肺炎疫情带来的影响，并继续为客户提供服务，这包括响应疫情防控工作的客户，同时确保我们 员工的安全。”受疫情影响，在个人防护设备的需求依旧强劲情况下，霍尼韦尔扩大了产能。杜瑞哲说，“我们已经宣布在美国新设立两个N95口罩生产基地，每月将生产2000万个口罩，并创造约1000个新工作岗位。我们同时还迅速提升包括护目镜、防护面罩在内的其他个人防护设备产量。 我们的医疗传感器已广泛应用于呼吸机中，并且我们已经大大提升了传感器产量，以满足需求。我们还在两家工厂改造生产线，以生产洗手液并 将其捐赠给政府机构。在美国，我们将其捐赠给联邦应急管理局(FEMA)。”“我们已做好充分准备，通过强大的资产负债表、严格执行成本控制以 及现金增值的能力来应对经济衰退。我们手头上有近90亿美元的现金和短期投资，并且在3月份，我们通过签署一项为期两年、价值60亿美元的贷款协议，进一步提升了财务灵活性，并以具有吸引力的利率为10亿欧元债券进行再融资。我们的养老金计划仍然资金充裕，在可预见的将来不需 要额外的供款。”受当前市场状况影响，尤其是航空航天以及石油和天然气行业，霍尼韦尔预期将面临不断的销售业绩挑战。在霍尼韦尔四大业务中，口罩所在的安全与生产力解决方案集团业务部占比是较小的。第一季度内生式销售额下降9%，营收14.24亿美元。尽管个人防护设备需求猛增，但传感和工业物联销售下降，Intelligrated大型系统项目进度控制受影响，气体传感产品需求下降。由于个人防护设备需求上涨以及Intelligrated强劲的预定，该业务集团一季度订单实现两位数增长，导致订单储存同比上涨达到30%。部门利润率下降90个基点至12.5%，主要受销售下降影响，部分被生产率所抵消，不考虑通货膨胀因素。霍尼韦尔营收占比最大的航空航天集团业务在第一季度实现内生式销售额增长1%，营收33.61亿美元。霍尼韦尔方面称这主要归功于防务和航天业务持续的强劲表现，以及空中交通运输商用售后市场的增长，但被商用航空原始设备需求下 降所部分抵消。部门利润率上涨280个基点至27.9%，主要得益于商业运营和有利的销售组合。智能建筑科技集团第一季度内生式销售额下降6%， 营收12.81亿美元。商用消防销售持平，但建筑智能系统项目放缓，安防和建筑管理产品销售下降。特性材料和技术集团第一季度内生式销售额下降5%，营收23.97亿美元。原因在于过程控制部业务受供应链影响以及产品需求下降；高性能材料业务受欧洲市场持续非法进口氢氟烃(HFC)影响 以及汽车制冷剂销售下降；UOP气体处理量下滑，部分被设备需求增长所抵消。部门利润率下降50个基点至21.4%，主要原因在于设备需求上升导 致不利的销售组合。
Japanese News:
湖北省武漢市で設けられた米複合企業ハネウェル社の完全子会社であるハネウェル新興市場本部とイノベーションセンターが19日、オープンしました。 新型コロナウイルス感染症の終息後、世界500強企業が、中国に進出するのはこれが初めてです。 ハネウェル社は航空産業向けの製品やサービス、建築、産業用制御技術、特殊材料などの分野におけるハイテクソリューション事業を展開しています。 同社・中国エリアの責任者・張宇峰氏は「武漢を2回訪れた。光谷ソフトウェアパークにあるイノベーション企業が非常に素晴らしい。彼らの革新的な製品、ソリューション、人材の誘致、投資環境は非常に優れている。ここでは新しい製品ラインをたくさん開発できると思う」と述べました。 一方、武漢東湖新技術開発区管理委員会の陳平主任は、 「武漢にとってこの春は大変なひと時であったが、無事に世界500強の企業を迎えた。この会社が新しい完全子会社を率先して感染症終息後の武漢に設立することは、武漢にとって自信を高める非常に重要な措置だ。サービスをさらに改善し、一流のビジネス環境を整え、最も便利なサービスを提供するとともに、外資企業が中国で新たな発展を迎えるために最適なサービスを提供する」と述べました。
Spanish News:
Honeywell (NYSE:HON) presentó el Viernes sus beneficios correspondientes al primer trimestre del año, cifras que superaron las previsiones de los analistas. Los ingresos, por su parte, se situaron por debajo de lo esperado. La compañía presentó un beneficio por acción de $2,21 y una facturación de $8,46B. Los analistas encuestados por Investing.com esperaban un BPA de $1,96 y unos ingresos de $8,6B, en comparación con el BPA de $1,92 y los ingresos de $8,88B que obtuvo en el mismo periodo del año anterior. En el trimestre anterior, la compañía registró un BPA de $2,06 y unos ingresos de $9,5B. En lo que llevamos de año, la acción de Honeywell desciende un 19%, por debajo de lo esperado al S&P 500, lo que representa una caída del 10%. Con sus cifras, Honeywell se une este mes a otras grandes del sector Bienes de capital . El pasado 15 de abril, ASML ADR presentó un BPA para el primer trimestre del año de $0,93 y unos ingresos de $2,44B, frente a la previsión de BPA de $1,47 y de ingresos de $3,17B. Los beneficios de Lockheed Martin superaron las previsiones de los analistas lanzadas el pasado 21 de abril, con un BPA para el primer trimestre de $6,08 y unos ingresos de $15,65B. Los analistas encuestados por Investing.com esperaban un BPA de $5,81 y unos ingresos de $15,08B. Manténgase al día de todas las cifras empresariales visitando nuestro Calendario de Resultados.
Greek News:
Η εταιρία κολοσσός Honeywell εστιάζει σε καινοτόμες τεχνολογίες καυσίμων και μεταφορών, εντείνοντας τις προσπάθειες της για βιωσιμότητα. Χρησιμοποιώντας μη βιώσιμα φυτά όπως τα φύκη και η γιατρόφα αλλά και απορρίματα, παράγει πράσινα καύσιμα και πετυχαίνει σημαντικές μειώσεις στις εκπομπές αερίων του θερμοκηπίου. Συγκεκριμένα, τα πράσινα αεροπορικά καύσιμα που αναπτύσσει προσφέρουν έως και 85% χαμηλότερες εκπομπές καθ' όλο τον κύκλο ζωής τους, ενώ παρόμοια ποσοστά επιτυγχάνονται και στα καύσιμα για οδικές και θαλάσσιες μεταφορές. Αυτές οι λύσεις συμβάλλουν ουσιαστικά στην απαθρακοποίηση του ευρύτερου τομέα των μεταφορών. Επίσης στον κλάδο της αεροπορίας, η εταιρία αναπτύσσει τεχνολογίες οι οποίες επιδιώκουν την παράλληλη αύξηση της χωρητικότητας και τη μείωση των εκπομπών. Το λογισμικό Honeywell Forge επιτρέπει τις λειτουργίες των πτήσεων να είναι πιο αποδοτικές, οδηγώντας έτσι σε μείωση της κατανάλωσης ενέργειας έως και 5% ανά διαδρομή. Επιπλέον, τα ηλεκτρικά και υβριδικά-ηλεκτρικά συστήματα πτήσης που αναπτύσσει η εταιρία στοχεύουν στον περιορισμό των εκπομπών σε κρίσιμες φάσεις, όπως η απογείωση και η προσγείωση, βελτιώνοντας τις περιβαλλοντικές επιδόσεις σε αστικά περιβάλλοντα. Παράλληλα με τα παραπάνω μέτρα, που έχουν ώς κύριο τους μέρισμα το περιβαλλοντικό αντίκτυπο της εταιρίας, η Honeywell ενισχύει την στρατηγική της παρουσία και στον αμυντικό τομέα. Συγκεκριμένα, εξασφάλισε συμβόλαιο $99,1 εκατομμυρίων με την Πολεμική Αεροπορία των ΗΠΑ. Το έργο αφορά τον εκσυγχρονισμό του συστήματος πλοήγησης EGI-M, το οποίο αποτελεί τεχνολογική πλατφόρμα για στρατιωτικά αεροσκάφη. Η ικανότητα του να λειτουργεί χωρίς εξάρτηση από GPS το καθιστά κρίσιμο για επιχειρήσεις σε περιβάλλοντα υψηλού κινδύνου, ενώ η υλοποίηση του έργου στη πόλη Clearwater της Florida, αναμένεται να ολοκληρωθεί μέχρι τα μέσα του 2024.
Question:
What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: Honeywell achieved a 15% EPS increase and expanded segment and operating margins despite declining sales, attributing success to operational excellence and favorable sales mix.
Financial Statement Evidence: Honeywell’s gross margin in Q1 FY2020 was $2.9B on revenue of $8.5B, compared to $3.0B on $8.9B in Q1 FY2019. Net income increased from $1.4B to $1.6B. |
HON_20200501 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 |
|:------------------------------------------------------------------------------|:----------------------|:-----------|:------------------|:-----------|:-----------|:-----------|:-----------|
| | | | | | | | |
| | | | | | | | |
| | March 31, 2020 | | December 31, 2019 | | | | |
| | (Dollars in millions) | | | | | | |
| ASSETS | | | | | | | |
| Current assets: | | | | | | | |
| Cash and cash equivalents | $ | 7,721 | | | $ | 9,067 | |
| Short-term investments | 1,070 | | | 1,349 | | | |
| Accounts receivable - net | 7,452 | | | 7,493 | | | |
| Inventories | 4,584 | | | 4,421 | | | |
| Other current assets | 1,786 | | | 1,973 | | | |
| Total current assets | 22,613 | | | 24,303 | | | |
| Investments and long-term receivables | 613 | | | 588 | | | |
| Property, plant and equipment - net | 5,214 | | | 5,325 | | | |
| Goodwill | 15,282 | | | 15,563 | | | |
| Other intangible assets - net | 3,580 | | | 3,734 | | | |
| Insurance recoveries for asbestos related liabilities | 383 | | | 392 | | | |
| Deferred income taxes | 71 | | | 86 | | | |
| Other assets | 9,666 | | | 8,688 | | | |
| Total assets | $ | 57,422 | | | $ | 58,679 | |
| LIABILITIES | | | | | | | |
| Current liabilities: | | | | | | | |
| Accounts payable | $ | 5,676 | | | $ | 5,730 | |
| Commercial paper and other short-term borrowings | 3,528 | | | 3,516 | | | |
| Current maturities of long-term debt | 1,042 | | | 1,376 | | | |
| Accrued liabilities | 7,131 | | | 7,476 | | | |
| Total current liabilities | 17,377 | | | 18,098 | | | |
| Long-term debt | 11,542 | | | 11,110 | | | |
| Deferred income taxes | 1,670 | | | 1,670 | | | |
| Postretirement benefit obligations other than pensions | 314 | | | 326 | | | |
| Asbestos related liabilities | 1,948 | | | 1,996 | | | |
| Other liabilities | 6,699 | | | 6,766 | | | |
| Redeemable noncontrolling interest | 7 | | | 7 | | | |
| SHAREOWNERS’ EQUITY | | | | | | | |
| Capital - common stock issued | 958 | | | 958 | | | |
| - additional paid-in capital | 7,047 | | | 6,876 | | | |
| Common stock held in treasury, at cost | (25,643 | ) | | (23,836 | ) | | |
| Accumulated other comprehensive loss | (3,353 | ) | | (3,197 | ) | | |
| Retained earnings | 38,635 | | | 37,693 | | | |
| Total Honeywell shareowners’ equity | 17,644 | | | 18,494 | | | |
| Noncontrolling interest | 221 | | | 212 | | | |
| Total shareowners’ equity | 17,865 | | | 18,706 | | | |
| Total liabilities, redeemable noncontrolling interest and shareowners’ equity | $ | 57,422 | | | $ | 58,679 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 |
|:------------------------------------------------------------------------------------------------------------|:-----------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|
| | | | | | | | |
| | | | | | | | |
| | Three Months Ended March 31, | | | | | | |
| | 2020 | | 2019 | | | | |
| | (Dollars in millions) | | | | | | |
| Cash flows from operating activities: | | | | | | | |
| Net income | $ | 1,606 | | | $ | 1,436 | |
| Less: Net income attributable to the noncontrolling interest | 25 | | | 20 | | | |
| Net income attributable to Honeywell | 1,581 | | | 1,416 | | | |
| Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities: | | | | | | | |
| Depreciation | 153 | | | 163 | | | |
| Amortization | 90 | | | 98 | | | |
| Repositioning and other charges | 62 | | | 84 | | | |
| Net payments for repositioning and other charges | (111 | ) | | (34 | ) | | |
| Pension and other postretirement income | (212 | ) | | (163 | ) | | |
| Pension and other postretirement benefit payments | (14 | ) | | (30 | ) | | |
| Stock compensation expense | 44 | | | 41 | | | |
| Deferred income taxes | (58 | ) | | 80 | | | |
| Other | (179 | ) | | (4 | ) | | |
| Changes in assets and liabilities, net of the effects of acquisitions and divestitures: | | | | | | | |
| Accounts receivable | 41 | | | 198 | | | |
| Inventories | (163 | ) | | (221 | ) | | |
| Other current assets | 166 | | | (217 | ) | | |
| Accounts payable | (54 | ) | | (29 | ) | | |
| Accrued liabilities | (407 | ) | | (248 | ) | | |
| Net cash provided by (used for) operating activities | 939 | | | 1,134 | | | |
| Cash flows from investing activities: | | | | | | | |
| Expenditures for property, plant and equipment | (139 | ) | | (141 | ) | | |
| Proceeds from disposals of property, plant and equipment | 7 | | | 2 | | | |
| Increase in investments | (648 | ) | | (1,226 | ) | | |
| Decrease in investments | 843 | | | 796 | | | |
| Receipts (payments) from settlements of derivative contracts | 287 | | | (40 | ) | | |
| Net cash provided by (used for) investing activities | 350 | | | (609 | ) | | |
| Cash flows from financing activities: | | | | | | | |
| Proceeds from issuance of commercial paper and other short-term borrowings | 3,455 | | | 3,318 | | | |
| Payments of commercial paper and other short-term borrowings | (3,373 | ) | | (3,319 | ) | | |
| Proceeds from issuance of common stock | 66 | | | 145 | | | |
| Proceeds from issuance of long-term debt | 1,127 | | | 20 | | | |
| Payments of long-term debt | (1,125 | ) | | (13 | ) | | |
| Repurchases of common stock | (1,923 | ) | | (750 | ) | | |
| Cash dividends paid | (635 | ) | | (606 | ) | | |
| Other | (38 | ) | | (30 | ) | | |
| Net cash provided by (used for) financing activities | (2,446 | ) | | (1,235 | ) | | |
| Effect of foreign exchange rate changes on cash and cash equivalents | (189 | ) | | 48 | | | |
| Net increase (decrease) in cash and cash equivalents | (1,346 | ) | | (662 | ) | | |
| Cash and cash equivalents at beginning of period | 9,067 | | | 9,287 | | | |
| Cash and cash equivalents at end of period | $ | 7,721 | | | $ | 8,625 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 |
|:-------------------------------------------------------------|:------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|
| | | | | | | | |
| | | | | | | | |
| | Three Months Ended March 31, | | | | | | |
| | 2020 | | 2019 | | | | |
| | (Dollars in millions, except per share amounts) | | | | | | |
| Product sales | $ | 6,305 | | | $ | 6,713 | |
| Service sales | 2,158 | | | 2,171 | | | |
| Net sales | 8,463 | | | 8,884 | | | |
| Costs, expenses and other | | | | | | | |
| Cost of products sold | 4,374 | | | 4,622 | | | |
| Cost of services sold | 1,160 | | | 1,257 | | | |
| | 5,534 | | | 5,879 | | | |
| Selling, general and administrative expenses | 1,238 | | | 1,363 | | | |
| Other (income) expense | (317 | ) | | (285 | ) | | |
| Interest and other financial charges | 73 | | | 85 | | | |
| | 6,528 | | | 7,042 | | | |
| Income before taxes | 1,935 | | | 1,842 | | | |
| Tax expense (benefit) | 329 | | | 406 | | | |
| Net income | 1,606 | | | 1,436 | | | |
| Less: Net income attributable to the noncontrolling interest | 25 | | | 20 | | | |
| Net income attributable to Honeywell | $ | 1,581 | | | $ | 1,416 | |
| Earnings per share of common stock - basic | $ | 2.23 | | | $ | 1.94 | |
| Earnings per share of common stock - assuming dilution | $ | 2.21 | | | $ | 1.92 | |
---
English News:
"Honeywell Delivers Margin Expansion Of Over 140 Basis Points And Earnings Per Share Of $2.21, Up 15% - CHARLOTTE, N.C., May1, 2020 /PRNewswire/ --Honeywell (NYSE: HON) today announced strong earnings growth for the first quarter of 2020 despite significant impacts from the COVID-19 pandemic. The company reported first-quarter earnings per share of $2.21, above guidance, operating profit growth of 3%, segment profit growth of 2%, and segment margin expansion of 140 basis points, all of which were at or above first-quarter guidance, with sales down 5%, or 4% organically. \"Honeywell delivered on our original earnings commitment for the first quarter, with EPS growth of 15% despite the substantial challenges we faced due to the COVID-19 pandemic. We remain focused on the strong operational excellence principles that underlie everything we do, and that discipline enabled us to achieve earnings growth in a challenging first quarter,\" said Darius Adamczyk, chairman and chief executive officer of Honeywell. \"As the COVID-19 pandemic rapidly escalated and the global economy deteriorated, we faced headwinds across our businesses, including rapid changes in our supply chain, constraints at customer sites, and significant impacts on the commercial aerospace and oil and gas end markets. These challenges drove an organic sales decline in the quarter. However, we acted quickly to mitigate the impacts and we continued to serve our customers, including those involved in the COVID-19 response efforts, while ensuring the safety of our employees.\" \"The safety of our employees is our top priority,\" Adamczyk said. \"We have announced that Honeywell will pay for COVID-19 testing costs that are not covered by our employees' insurance and will pay out-of-pocket treatment costs for those enrolled in the Honeywell medical plan. We have also provided a full year of paid sick time up-front to U.S. non-exempt employees and have announced a $10 million relief fund to help employees that are in financial distress. In addition, Honeywell is playing a critical role in keeping medical professionals safe. We have announced two new manufacturing sites for N95 respiratory masks in the United States. Between these two locations, we will produce 20 million respiratory masks per month and create about 1,000 new jobs. We are also quickly ramping up production of other personal protective equipment, including safety eyewear and face shields. Our medical sensors are widely used in ventilators, and we have significantly increased our sensor production to address demand. In addition, we are shifting manufacturing operations at two facilities to produce and donate hand sanitizer to government agencies. Within the United States, our donation will go to the Federal Emergency Management Agency (FEMA).\" Adamczyk continued, \"We are well-prepared to manage the downturn with a strong balance sheet and execution rigor focused on cost control and cash generation. We have nearly $9 billion of cash and short-term investments on hand and, in March, we further enhanced our financial flexibility by entering into a $6 billion two-year term loan and refinanced 1 billion of bonds at attractive rates. Our pension plan remains overfunded, requiring no additional contributions for the foreseeable future.\" Adamczyk concluded, \"I am proud of Honeywell's longstanding ability to adapt to and deliver in any type of economic environment, and I am confident in our ability to execute in these uncertain times.Our businesses serve a diverse set of end markets and we continue to invest in innovation for long-term growth, including quantum computing, the Honeywell Forge enterprise performance management software platform, and sustainable next-generation products. Honeywell is actively managing through the downturn and is well-positioned for the economic recovery to come.\" Due to the evolving nature of the COVID-19 pandemic and related supply chain and market disruptions, Honeywell announced that it has temporarily suspended its full-year financial guidance until the economic impact of COVID-19 stabilizes. The company expects ongoing top-line challenges due to the current market conditions, particularly in the aerospace and oil and gas sectors. First-Quarter Performance Honeywellsales for the first quarter were down 5% on a reported basis and down 4% on an organic basis. The difference between reported and organic sales primarily relates to the impact of foreign currency translation. The first-quarter financial results can be found in Tables 1 and 2. Aerospacesales for the first quarter were up 1% on an organic basis driven by continued strength in the Defense and Space business and growth in air transport commercial aftermarket, partially offset by lower air transport original equipment demand.Segment margin expanded 280 basis points to 27.9%, primarily driven by favorable sales mix and commercial excellence. Honeywell Building Technologiessales for the first quarter were down 6% on an organic basis as flat sales in commercial fire were offset by softness in building solutions projects and volume declines in security and building management products. Segment margin expanded 100 basis points to 20.5%, primarily driven by commercial and operational excellence. Performance Materials and Technologies sales for the first quarter were down 5% on an organic basis driven by supply chain disruptions and decreased products demand in Process Solutions; headwinds related to the continued illegal imports of hydrofluorocarbons (HFCs) into Europe, and lower automotive refrigerant volumes in Advanced Materials; and lower gas processing volumes in UOP, partially offset by higher demand for equipment. Segment margin contracted 50 basis points to 21.4%, primarily driven by unfavorable sales mix related to higher equipment demand, partially offset by commercial excellence. Safety and Productivity Solutionssales for the first quarter were down 9% on an organic basis driven by lower sales volumes in sensing and IoT, the impact of major systems project timing in Intelligrated, and lower demand for gas sensing products, more than offsetting increased demand for respiratory personal protective equipment. SPS orders were up double-digits in the first quarter, led by demand for PPE and strong Intelligrated bookings, resulting in backlog that is up over 30% year-over-year.Segment margin contracted 90 basis points to 12.5%, primarily driven by lower sales volumes, partially offset by productivity, net of inflation. Conference Call Details Honeywell will discuss its first-quarter results and second-quarter outlook during an investor conference call starting at 8:30 a.m. Eastern Daylight Time today. To participate on the conference call, please dial (866) 548-4713 (domestic) or (323) 794-2093 (international) approximately ten minutes before the 8:30 a.m. EDT start.Please mention to the operator that you are dialing in for Honeywell's first-quarter 2020 earnings call or provide the conference code HON1Q20. The live webcast of the investor call as well as related presentation materials will be available through the Investor Relations section of the company's website (www.honeywell.com/investor). Investors can hear a replay of the conference call from 12:30 p.m. EDT, May 1, until 12:30 p.m. EDT, May 8, by dialing (888) 203-1112 (domestic) or (719) 457-0820 (international). The access code is 4293414. TABLE 1: SUMMARY OF HONEYWELL FINANCIAL RESULTS 1Q 2020 1Q 2019 Change Sales 8,463 8,884 (5%) Organic Growth (4%) Segment Margin 21.8% 20.4% 140 bps Operating Income Margin 20.0% 18.5% 150 bps Earnings Per Share $2.21 $1.92 15% Cash Flow from Operations 939 1,134 (17%) Free Cash Flow 800 993 (19%) Adjusted Free Cash Flow1 800 1,158 (31%) TABLE 2: SUMMARY OF SEGMENT FINANCIAL RESULTS AEROSPACE 1Q 2020 1Q 2019 Change Sales 3,361 3,341 1% Organic Growth 1% Segment Profit 937 838 12% Segment Margin 27.9% 25.1% 280 bps HONEYWELL BUILDING TECHNOLOGIES Sales 1,281 1,389 (8%) Organic Growth (6%) Segment Profit 262 271 (3%) Segment Margin 20.5% 19.5% 100 bps PERFORMANCE MATERIALS AND TECHNOLOGIES Sales 2,397 2,572 (7%) Organic Growth (5%) Segment Profit 512 564 (9%) Segment Margin 21.4% 21.9% -50 bps SAFETY AND PRODUCTIVITY SOLUTIONS Sales 1,424 1,582 (10%) Organic Growth (9%) Segment Profit 178 212 (16%) Segment Margin 12.5% 13.4% -90 bps 1Adjusted free cash flow and adjusted free cash flow V% exclude impacts from separation costs related to the spin-offs of $165M in 1Q19 Honeywell (www.honeywell.com) is a Fortune 100 technology company that delivers industry specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help everything from aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom. This release contains certain statements that may be deemed \"forward-looking statements\" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, technological, and COVID-19 public health factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, and other developments, including the potential impact of the COVID-19 pandemic, and business decisions may differ from those envisaged by such forward-looking statements. Any forward-looking plans described herein are not final and may be modified or abandoned at any time. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission. This release contains financial measures presented on a non-GAAP basis. Honeywell's non-GAAP financial measures used in this release are as follows: segment profit, on an overall Honeywell basis, a measure by which we assess operating performance, which we define as operating income adjusted for certain items as presented in the Appendix; segment margin, on an overall Honeywell basis, which we define as segment profit divided by sales; organic sales growth, which we define as sales growth less the impacts from foreign currency translation, and acquisitions and divestitures for the first 12 months following transaction date; free cash flow, which we define as cash flow from operations less capital expenditures; and adjusted free cash flow, which we define as cash flow from operations less capital expenditures and which we adjust to exclude the impact of separation costs related to the spin-offs of Resideo and Garrett, if and as noted in the release.Management believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. These metrics should be considered in addition to, and not as replacements for, the most comparable GAAP measure. Refer to the Appendix attached to this release for reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures. Honeywell International Inc. Consolidated Statement of Operations (Unaudited) (Dollars in millions, except per share amounts) Three Months Ended March 31, 2020 2019 Product sales $ 6,305 $ 6,713 Service sales 2,158 2,171 Net sales 8,463 8,884 Costs, expenses and other Cost of products sold (1) 4,374 4,622 Cost of services sold (1) 1,160 1,257 5,534 5,879 Selling, general and administrative expenses (1) 1,238 1,363 Other (income) expense (317) (285) Interest and other financial charges 73 85 6,528 7,042 Income before taxes 1,935 1,842 Tax expense (benefit) 329 406 Net income 1,606 1,436 Less: Net income attributable to the noncontrolling interest 25 20 Net income attributable to Honeywell $ 1,581 $ 1,416 Earnings per share of common stock - basic $ 2.23 $ 1.94 Earnings per share of common stock - assuming dilution $ 2.21 $ 1.92 Weighted average number of shares outstanding - basic 709.6 729.7 Weighted average number of shares outstanding - assuming dilution 717.0 738.8 (1) Cost of products and services sold and selling, general and administrative expenses include amounts for repositioning and other charges, the service cost component of pension and other postretirement (income) expense, and stock compensation expense. Honeywell International Inc. Segment Data (Unaudited) (Dollars in millions) Three Months Ended March 31, Net Sales 2020 2019 Aerospace $ 3,361 $ 3,341 Honeywell Building Technologies 1,281 1,389 Performance Materials and Technologies 2,397 2,572 Safety and Productivity Solutions 1,424 1,582 Total $ 8,463 $ 8,884 Reconciliation of Segment Profit to Income Before Taxes Three Months Ended March 31, Segment Profit 2020 2019 Aerospace $ 937 $ 838 Honeywell Building Technologies 262 271 Performance Materials and Technologies 512 564 Safety and Productivity Solutions 178 212 Corporate (41) (76) Total segment profit 1,848 1,809 Interest and other financial charges (73) (85) Stock compensation expense (1) (44) (41) Pension ongoing income (2) 198 151 Other postretirement income (2) 13 12 Repositioning and other charges (3,4) (62) (84) Other (5) 55 80 Income before taxes $ 1,935 $ 1,842 (1) Amounts included in Selling, general and administrative expenses. (2) Amounts included in Cost of products and services sold and Selling, general and administrative expenses (service costs) and Other income/expense (non-service cost components). (3) Amounts included in Cost of products and services sold, Selling, general and administrative expenses, and Other income/expense. (4) Includes repositioning, asbestos, and environmental expenses. (5) Amounts include the other components of Other income/expense not included within other categories in this reconciliation. Equity income (loss) of affiliated companies is included in segment profit. Honeywell International Inc. Consolidated Balance Sheet (Unaudited) (Dollars in millions) March 31, 2020 December 31, 2019 ASSETS Current assets: Cash and cash equivalents $ 7,721 $ 9,067 Short-term investments 1,070 1,349 Accounts receivable - net 7,452 7,493 Inventories 4,584 4,421 Other current assets 1,786 1,973 Total current assets 22,613 24,303 Investments and long-term receivables 613 588 Property, plant and equipment - net 5,214 5,325 Goodwill 15,282 15,563 Other intangible assets - net 3,580 3,734 Insurance recoveries for asbestos related liabilities 383 392 Deferred income taxes 71 86 Other assets 9,666 8,688 Total assets $ 57,422 $ 58,679 LIABILITIES Current liabilities: Accounts payable $ 5,676 $ 5,730 Commercial paper and other short-term borrowings 3,528 3,516 Current maturities of long-term debt 1,042 1,376 Accrued liabilities 7,131 7,476 Total current liabilities 17,377 18,098 Long-term debt 11,542 11,110 Deferred income taxes 1,670 1,670 Postretirement benefit obligations other than pensions 314 326 Asbestos related liabilities 1,948 1,996 Other liabilities 6,699 6,766 Redeemable noncontrolling interest 7 7 Shareowners' equity 17,865 18,706 Total liabilities, redeemable noncontrolling interest and shareowners' equity $ 57,422 $ 58,679 Honeywell International Inc. Consolidated Statement of Cash Flows (Unaudited) (Dollars in millions) Three Months Ended March 31, 2020 2019 Cash flows from operating activities: Net income $ 1,606 $ 1,436 Less: Net income attributable to the noncontrolling interest 25 20 Net income attributable to Honeywell 1,581 1,416 Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities: Depreciation 153 163 Amortization 90 98 Repositioning and other charges 62 84 Net payments for repositioning and other charges (111) (34) Pension and other postretirement income (212) (163) Pension and other postretirement benefit payments (14) (30) Stock compensation expense 44 41 Deferred income taxes (58) 80 Other (179) (4) Changes in assets and liabilities, net of the effects of acquisitions and divestitures: Accounts receivable 41 198 Inventories (163) (221) Other current assets 166 (217) Accounts payable (54) (29) Accrued liabilities (407) (248) Net cash provided by (used for) operating activities 939 1,134 Cash flows from investing activities: Expenditures for property, plant and equipment (139) (141) Proceeds from disposals of property, plant and equipment 7 2 Increase in investments (648) (1,226) Decrease in investments 843 796 Receipts (payments) from settlements of derivative contracts 287 (40) Net cash provided by (used for) investing activities 350 (609) Cash flows from financing activities: Proceeds from issuance of commercial paper and other short-term borrowings 3,455 3,318 Payments of commercial paper and other short-term borrowings (3,373) (3,319) Proceeds from issuance of common stock 66 145 Proceeds from issuance of long-term debt 1,127 20 Payments of long-term debt (1,125) (13) Repurchases of common stock (1,923) (750) Cash dividends paid (635) (606) Other (38) (30) Net cash provided by (used for) financing activities (2,446) (1,235) Effect of foreign exchange rate changes on cash and cash equivalents (189) 48 Net increase (decrease) in cash and cash equivalents (1,346) (662) Cash and cash equivalents at beginning of period 9,067 9,287 Cash and cash equivalents at end of period $ 7,721 $ 8,625 Honeywell International Inc. Reconciliation of Organic Sales % Change (Unaudited) Three Months Ended March 31, 2020 Honeywell Reported sales % change (5)% Less: Foreign currency translation (1)% Less: Acquisitions, divestitures and other, net % Organic sales % change (4)% Aerospace Reported sales % change 1% Less: Foreign currency translation % Less: Acquisitions, divestitures and other, net % Organic sales % change 1% Honeywell Building Technologies Reported sales % change (8)% Less: Foreign currency translation (2)% Less: Acquisitions, divestitures and other, net % Organic sales % change (6)% Performance Materials and Technologies Reported sales % change (7)% Less: Foreign currency translation (2)% Less: Acquisitions, divestitures and other, net % Organic sales % change (5)% Safety and Productivity Solutions Reported sales % change (10)% Less: Foreign currency translation (1)% Less: Acquisitions, divestitures and other, net % Organic sales % change (9)% We define organic sales percent as the year-over-year change in reported sales relative to the comparable period, excluding the impact on sales from foreign currency translation and acquisitions, net of divestitures. We believe this measure is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. Honeywell International Inc. Reconciliation of Segment Profit to Operating Income and Calculation of Segment Profit and Operating Income Margins (Unaudited) (Dollars in millions) Three Months Ended March 31, 2020 2019 Segment profit $ 1,848 $ 1,809 Stock compensation expense (1) (44) (41) Repositioning, Other (2,3) (74) (93) Pension and other postretirement service costs (4) (39) (33) Operating income $ 1,691 $ 1,642 Segment profit $ 1,848 $ 1,809 Net sales $ 8,463 $ 8,884 Segment profit margin % 21.8 % 20.4 % Operating income $ 1,691 $ 1,642 Net sales $ 8,463 $ 8,884 Operating income margin % 20.0 % 18.5 % (1) Included in Selling, general and administrative expenses. (2) Includes repositioning, asbestos, environmental expenses and equity income adjustment. (3) Included in Cost of products and services sold, Selling, general and administrative expenses and Other income/expense. (4) Included in Cost of products and services sold and Selling, general and administrative expenses. We define segment profit as operating income, excluding stock compensation expense, pension and other postretirement service costs, and repositioning and other charges. We believe these measures are useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. Honeywell International Inc. Reconciliation of Cash Provided by Operating Activities to Adjusted Free Cash Flow (Unaudited) (Dollars in millions) Three Months EndedMarch 31, 2020 Three Months EndedMarch 31, 2019 Cash provided by operating activities $ 939 $ 1,134 Expenditures for property, plant and equipment (139) (141) Free cash flow 800 993 Separation cost payments 165 Adjusted free cash flow $ 800 $ 1,158 We define free cash flow as cash provided by operating activities less cash expenditures for property, plant and equipment. We believe that this metric is useful to investors and management as a measure of cash generated by business operations that will be used to repay scheduled debt maturities and can be used to invest in future growth through new business development activities or acquisitions, pay dividends, repurchase stock or repay debt obligations prior to their maturities. This metric can also be used to evaluate our ability to generate cash flow from business operations and the impact that this cash flow has on our liquidity. Contacts: Media Investor Relations Nina Krauss Mark Bendza (704) 627-6035 (704) 627-6200 [emailprotected] [emailprotected] SOURCE Honeywell Related Links http://www.honeywell.com"
Chinese News:
5月6日，霍尼韦尔(纽交所代码： HON)公布2020年第一季度的财务业绩，受到新冠肺炎疫情重大影响，霍尼韦尔个人防护业务大幅增长，但其业务占比过小，无法抵消其他业务受疫情下滑的影响。霍尼韦尔第一季度销售额84.63亿美元，同比下滑5%；每股收益2.21美元；营运利润上涨3%，部门利润上涨2%；营运现金流9亿美元，自由现金流8亿美元。“尽管新冠肺炎疫情给我们带来了巨大的挑战，但霍尼韦尔完成了第一季度的收益承诺，每股收益增长15%。”霍尼韦尔董事长兼首席执行官杜瑞哲说，“随着新冠肺炎疫情迅速蔓延，全球经济恶化，我们业务都面临不利因素，包括我们供应链的急剧变化、客户现场受限以及商用航空、石油和天然气终端市场所受的重大影响。这些挑战导致我们该季度内生 式销售额下降。但我们立即采取行动以减轻新冠肺炎疫情带来的影响，并继续为客户提供服务，这包括响应疫情防控工作的客户，同时确保我们 员工的安全。”受疫情影响，在个人防护设备的需求依旧强劲情况下，霍尼韦尔扩大了产能。杜瑞哲说，“我们已经宣布在美国新设立两个N95口罩生产基地，每月将生产2000万个口罩，并创造约1000个新工作岗位。我们同时还迅速提升包括护目镜、防护面罩在内的其他个人防护设备产量。 我们的医疗传感器已广泛应用于呼吸机中，并且我们已经大大提升了传感器产量，以满足需求。我们还在两家工厂改造生产线，以生产洗手液并 将其捐赠给政府机构。在美国，我们将其捐赠给联邦应急管理局(FEMA)。”“我们已做好充分准备，通过强大的资产负债表、严格执行成本控制以 及现金增值的能力来应对经济衰退。我们手头上有近90亿美元的现金和短期投资，并且在3月份，我们通过签署一项为期两年、价值60亿美元的贷款协议，进一步提升了财务灵活性，并以具有吸引力的利率为10亿欧元债券进行再融资。我们的养老金计划仍然资金充裕，在可预见的将来不需 要额外的供款。”受当前市场状况影响，尤其是航空航天以及石油和天然气行业，霍尼韦尔预期将面临不断的销售业绩挑战。在霍尼韦尔四大业务中，口罩所在的安全与生产力解决方案集团业务部占比是较小的。第一季度内生式销售额下降9%，营收14.24亿美元。尽管个人防护设备需求猛增，但传感和工业物联销售下降，Intelligrated大型系统项目进度控制受影响，气体传感产品需求下降。由于个人防护设备需求上涨以及Intelligrated强劲的预定，该业务集团一季度订单实现两位数增长，导致订单储存同比上涨达到30%。部门利润率下降90个基点至12.5%，主要受销售下降影响，部分被生产率所抵消，不考虑通货膨胀因素。霍尼韦尔营收占比最大的航空航天集团业务在第一季度实现内生式销售额增长1%，营收33.61亿美元。霍尼韦尔方面称这主要归功于防务和航天业务持续的强劲表现，以及空中交通运输商用售后市场的增长，但被商用航空原始设备需求下 降所部分抵消。部门利润率上涨280个基点至27.9%，主要得益于商业运营和有利的销售组合。智能建筑科技集团第一季度内生式销售额下降6%， 营收12.81亿美元。商用消防销售持平，但建筑智能系统项目放缓，安防和建筑管理产品销售下降。特性材料和技术集团第一季度内生式销售额下降5%，营收23.97亿美元。原因在于过程控制部业务受供应链影响以及产品需求下降；高性能材料业务受欧洲市场持续非法进口氢氟烃(HFC)影响 以及汽车制冷剂销售下降；UOP气体处理量下滑，部分被设备需求增长所抵消。部门利润率下降50个基点至21.4%，主要原因在于设备需求上升导 致不利的销售组合。
Japanese News:
湖北省武漢市で設けられた米複合企業ハネウェル社の完全子会社であるハネウェル新興市場本部とイノベーションセンターが19日、オープンしました。 新型コロナウイルス感染症の終息後、世界500強企業が、中国に進出するのはこれが初めてです。 ハネウェル社は航空産業向けの製品やサービス、建築、産業用制御技術、特殊材料などの分野におけるハイテクソリューション事業を展開しています。 同社・中国エリアの責任者・張宇峰氏は「武漢を2回訪れた。光谷ソフトウェアパークにあるイノベーション企業が非常に素晴らしい。彼らの革新的な製品、ソリューション、人材の誘致、投資環境は非常に優れている。ここでは新しい製品ラインをたくさん開発できると思う」と述べました。 一方、武漢東湖新技術開発区管理委員会の陳平主任は、 「武漢にとってこの春は大変なひと時であったが、無事に世界500強の企業を迎えた。この会社が新しい完全子会社を率先して感染症終息後の武漢に設立することは、武漢にとって自信を高める非常に重要な措置だ。サービスをさらに改善し、一流のビジネス環境を整え、最も便利なサービスを提供するとともに、外資企業が中国で新たな発展を迎えるために最適なサービスを提供する」と述べました。
Spanish News:
Honeywell (NYSE:HON) presentó el Viernes sus beneficios correspondientes al primer trimestre del año, cifras que superaron las previsiones de los analistas. Los ingresos, por su parte, se situaron por debajo de lo esperado. La compañía presentó un beneficio por acción de $2,21 y una facturación de $8,46B. Los analistas encuestados por Investing.com esperaban un BPA de $1,96 y unos ingresos de $8,6B, en comparación con el BPA de $1,92 y los ingresos de $8,88B que obtuvo en el mismo periodo del año anterior. En el trimestre anterior, la compañía registró un BPA de $2,06 y unos ingresos de $9,5B. En lo que llevamos de año, la acción de Honeywell desciende un 19%, por debajo de lo esperado al S&P 500, lo que representa una caída del 10%. Con sus cifras, Honeywell se une este mes a otras grandes del sector Bienes de capital . El pasado 15 de abril, ASML ADR presentó un BPA para el primer trimestre del año de $0,93 y unos ingresos de $2,44B, frente a la previsión de BPA de $1,47 y de ingresos de $3,17B. Los beneficios de Lockheed Martin superaron las previsiones de los analistas lanzadas el pasado 21 de abril, con un BPA para el primer trimestre de $6,08 y unos ingresos de $15,65B. Los analistas encuestados por Investing.com esperaban un BPA de $5,81 y unos ingresos de $15,08B. Manténgase al día de todas las cifras empresariales visitando nuestro Calendario de Resultados.
Greek News:
Η εταιρία κολοσσός Honeywell εστιάζει σε καινοτόμες τεχνολογίες καυσίμων και μεταφορών, εντείνοντας τις προσπάθειες της για βιωσιμότητα. Χρησιμοποιώντας μη βιώσιμα φυτά όπως τα φύκη και η γιατρόφα αλλά και απορρίματα, παράγει πράσινα καύσιμα και πετυχαίνει σημαντικές μειώσεις στις εκπομπές αερίων του θερμοκηπίου. Συγκεκριμένα, τα πράσινα αεροπορικά καύσιμα που αναπτύσσει προσφέρουν έως και 85% χαμηλότερες εκπομπές καθ' όλο τον κύκλο ζωής τους, ενώ παρόμοια ποσοστά επιτυγχάνονται και στα καύσιμα για οδικές και θαλάσσιες μεταφορές. Αυτές οι λύσεις συμβάλλουν ουσιαστικά στην απαθρακοποίηση του ευρύτερου τομέα των μεταφορών. Επίσης στον κλάδο της αεροπορίας, η εταιρία αναπτύσσει τεχνολογίες οι οποίες επιδιώκουν την παράλληλη αύξηση της χωρητικότητας και τη μείωση των εκπομπών. Το λογισμικό Honeywell Forge επιτρέπει τις λειτουργίες των πτήσεων να είναι πιο αποδοτικές, οδηγώντας έτσι σε μείωση της κατανάλωσης ενέργειας έως και 5% ανά διαδρομή. Επιπλέον, τα ηλεκτρικά και υβριδικά-ηλεκτρικά συστήματα πτήσης που αναπτύσσει η εταιρία στοχεύουν στον περιορισμό των εκπομπών σε κρίσιμες φάσεις, όπως η απογείωση και η προσγείωση, βελτιώνοντας τις περιβαλλοντικές επιδόσεις σε αστικά περιβάλλοντα. Παράλληλα με τα παραπάνω μέτρα, που έχουν ώς κύριο τους μέρισμα το περιβαλλοντικό αντίκτυπο της εταιρίας, η Honeywell ενισχύει την στρατηγική της παρουσία και στον αμυντικό τομέα. Συγκεκριμένα, εξασφάλισε συμβόλαιο $99,1 εκατομμυρίων με την Πολεμική Αεροπορία των ΗΠΑ. Το έργο αφορά τον εκσυγχρονισμό του συστήματος πλοήγησης EGI-M, το οποίο αποτελεί τεχνολογική πλατφόρμα για στρατιωτικά αεροσκάφη. Η ικανότητα του να λειτουργεί χωρίς εξάρτηση από GPS το καθιστά κρίσιμο για επιχειρήσεις σε περιβάλλοντα υψηλού κινδύνου, ενώ η υλοποίηση του έργου στη πόλη Clearwater της Florida, αναμένεται να ολοκληρωθεί μέχρι τα μέσα του 2024.
Question:
What are the company's capital expenditures and their strategic significance from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | What are the company's capital expenditures and their strategic significance from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: Honeywell invested in expanding production capacity for N95 masks, safety eyewear, face shields, and medical sensors, as well as retrofitting factories to produce hand sanitizer.
Financial Statement Evidence: In Q1 FY2020, Honeywell’s capital expenditures were $139M, compared to $141M in Q1 FY2019. |
HON_20200724 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:------------------------------------------------------------------------------|:----------------------|:-----------|:------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | June 30, 2020 | | December 31, 2019 | | | | | | | | |
| | (Dollars in millions) | | | | | | | | | | |
| ASSETS | | | | | | | | | | | |
| Current assets: | | | | | | | | | | | |
| Cash and cash equivalents | $ | 13,778 | | | $ | 9,067 | | | | | |
| Short-term investments | 1,349 | | | 1,349 | | | | | | | |
| Accounts receivable - net | 6,717 | | | 7,493 | | | | | | | |
| Inventories | 4,753 | | | 4,421 | | | | | | | |
| Other current assets | 1,724 | | | 1,973 | | | | | | | |
| Total current assets | 28,321 | | | 24,303 | | | | | | | |
| Investments and long-term receivables | 626 | | | 588 | | | | | | | |
| Property, plant and equipment - net | 5,327 | | | 5,325 | | | | | | | |
| Goodwill | 15,518 | | | 15,563 | | | | | | | |
| Other intangible assets - net | 3,551 | | | 3,734 | | | | | | | |
| Insurance recoveries for asbestos related liabilities | 379 | | | 392 | | | | | | | |
| Deferred income taxes | 106 | | | 86 | | | | | | | |
| Other assets | 9,776 | | | 8,688 | | | | | | | |
| Total assets | $ | 63,604 | | | $ | 58,679 | | | | | |
| LIABILITIES | | | | | | | | | | | |
| Current liabilities: | | | | | | | | | | | |
| Accounts payable | $ | 5,366 | | | $ | 5,730 | | | | | |
| Commercial paper and other short-term borrowings | 3,531 | | | 3,516 | | | | | | | |
| Current maturities of long-term debt | 967 | | | 1,376 | | | | | | | |
| Accrued liabilities | 7,477 | | | 7,476 | | | | | | | |
| Total current liabilities | 17,341 | | | 18,098 | | | | | | | |
| Long-term debt | 17,591 | | | 11,110 | | | | | | | |
| Deferred income taxes | 1,461 | | | 1,670 | | | | | | | |
| Postretirement benefit obligations other than pensions | 317 | | | 326 | | | | | | | |
| Asbestos related liabilities | 1,894 | | | 1,996 | | | | | | | |
| Other liabilities | 6,627 | | | 6,766 | | | | | | | |
| Redeemable noncontrolling interest | 7 | | | 7 | | | | | | | |
| SHAREOWNERS’ EQUITY | | | | | | | | | | | |
| Capital - common stock issued | 958 | | | 958 | | | | | | | |
| - additional paid-in capital | 7,104 | | | 6,876 | | | | | | | |
| Common stock held in treasury, at cost | (25,685) | | | (23,836) | | | | | | | |
| Accumulated other comprehensive loss | (3,310) | | | (3,197) | | | | | | | |
| Retained earnings | 39,080 | | | 37,693 | | | | | | | |
| Total Honeywell shareowners’ equity | 18,147 | | | 18,494 | | | | | | | |
| Noncontrolling interest | 219 | | | 212 | | | | | | | |
| Total shareowners’ equity | 18,366 | | | 18,706 | | | | | | | |
| Total liabilities, redeemable noncontrolling interest and shareowners’ equity | $ | 63,604 | | | $ | 58,679 | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:------------------------------------------------------------------------------------------------------------|:--------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | Six Months Ended June 30, | | | | | | | | | | |
| | 2020 | | 2019 | | | | | | | | |
| | (Dollars in millions) | | | | | | | | | | |
| Cash flows from operating activities: | | | | | | | | | | | |
| Net income | $ | 2,705 | | | $ | 2,992 | | | | | |
| Less: Net income attributable to the noncontrolling interest | 43 | | | 35 | | | | | | | |
| Net income attributable to Honeywell | 2,662 | | | 2,957 | | | | | | | |
| Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities: | | | | | | | | | | | |
| Depreciation | 314 | | | 335 | | | | | | | |
| Amortization | 179 | | | 221 | | | | | | | |
| | | | | | | | | | | | |
| Repositioning and other charges | 342 | | | 210 | | | | | | | |
| Net payments for repositioning and other charges | (309) | | | (85) | | | | | | | |
| Pension and other postretirement income | (423) | | | (322) | | | | | | | |
| Pension and other postretirement benefit payments | (23) | | | (45) | | | | | | | |
| Stock compensation expense | 78 | | | 75 | | | | | | | |
| Deferred income taxes | (277) | | | 44 | | | | | | | |
| Other | (285) | | | 5 | | | | | | | |
| Changes in assets and liabilities, net of the effects of acquisitions and divestitures: | | | | | | | | | | | |
| Accounts receivable | 776 | | | 98 | | | | | | | |
| Inventories | (331) | | | (273) | | | | | | | |
| Other current assets | 106 | | | (239) | | | | | | | |
| Accounts payable | (364) | | | (8) | | | | | | | |
| Accrued liabilities | (26) | | | (161) | | | | | | | |
| Net cash provided by (used for) operating activities | 2,419 | | | 2,812 | | | | | | | |
| Cash flows from investing activities: | | | | | | | | | | | |
| Expenditures for property, plant and equipment | (366) | | | (312) | | | | | | | |
| Proceeds from disposals of property, plant and equipment | 7 | | | 10 | | | | | | | |
| Increase in investments | (1,671) | | | (2,274) | | | | | | | |
| Decrease in investments | 1,589 | | | 2,163 | | | | | | | |
| | | | | | | | | | | | |
| Receipts (payments) from settlements of derivative contracts | 83 | | | 70 | | | | | | | |
| Net cash provided by (used for) investing activities | (358) | | | (343) | | | | | | | |
| Cash flows from financing activities: | | | | | | | | | | | |
| Proceeds from issuance of commercial paper and other short-term borrowings | 7,165 | | | 7,114 | | | | | | | |
| Payments of commercial paper and other short-term borrowings | (7,094) | | | (7,115) | | | | | | | |
| Proceeds from issuance of common stock | 97 | | | 378 | | | | | | | |
| Proceeds from issuance of long-term debt | 7,101 | | | 29 | | | | | | | |
| Payments of long-term debt | (1,218) | | | (84) | | | | | | | |
| Repurchases of common stock | (1,985) | | | (2,650) | | | | | | | |
| Cash dividends paid | (1,285) | | | (1,203) | | | | | | | |
| Other | (40) | | | (32) | | | | | | | |
| Net cash provided by (used for) financing activities | 2,741 | | | (3,563) | | | | | | | |
| Effect of foreign exchange rate changes on cash and cash equivalents | (91) | | | 32 | | | | | | | |
| Net increase (decrease) in cash and cash equivalents | 4,711 | | | (1,062) | | | | | | | |
| Cash and cash equivalents at beginning of period | 9,067 | | | 9,287 | | | | | | | |
| Cash and cash equivalents at end of period | $ | 13,778 | | | $ | 8,225 | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 | Column 22 | Column 23 | Column 24 |
|:-------------------------------------------------------------|:------------------------------------------------|:-----------|:-----------|:-----------|:--------------------------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | | | | |
| | Three Months Ended June 30, | | | | Six Months Ended June 30, | | | | | | | | | | | | | | | | | | |
| | 2020 | | 2019 | | 2020 | | 2019 | | | | | | | | | | | | | | | | |
| | (Dollars in millions, except per share amounts) | | | | | | | | | | | | | | | | | | | | | | |
| Product sales | $ | 5,743 | | | $ | 6,990 | | | $ | 12,048 | | | $ | 13,703 | | | | | | | | | |
| Service sales | 1,734 | | | 2,253 | | | 3,892 | | | 4,424 | | | | | | | | | | | | | |
| Net sales | 7,477 | | | 9,243 | | | 15,940 | | | 18,127 | | | | | | | | | | | | | |
| Costs, expenses and other | | | | | | | | | | | | | | | | | | | | | | | |
| Cost of products sold | 4,163 | | | 4,848 | | | 8,537 | | | 9,470 | | | | | | | | | | | | | |
| Cost of services sold | 1,113 | | | 1,246 | | | 2,273 | | | 2,503 | | | | | | | | | | | | | |
| | 5,276 | | | 6,094 | | | 10,810 | | | 11,973 | | | | | | | | | | | | | |
| Selling, general and administrative expenses | 1,183 | | | 1,387 | | | 2,421 | | | 2,750 | | | | | | | | | | | | | |
| Other (income) expense | (291) | | | (305) | | | (608) | | | (590) | | | | | | | | | | | | | |
| Interest and other financial charges | 90 | | | 85 | | | 163 | | | 170 | | | | | | | | | | | | | |
| | 6,258 | | | 7,261 | | | 12,786 | | | 14,303 | | | | | | | | | | | | | |
| Income before taxes | 1,219 | | | 1,982 | | | 3,154 | | | 3,824 | | | | | | | | | | | | | |
| Tax expense (benefit) | 120 | | | 426 | | | 449 | | | 832 | | | | | | | | | | | | | |
| Net income | 1,099 | | | 1,556 | | | 2,705 | | | 2,992 | | | | | | | | | | | | | |
| Less: Net income attributable to the noncontrolling interest | 18 | | | 15 | | | 43 | | | 35 | | | | | | | | | | | | | |
| Net income attributable to Honeywell | $ | 1,081 | | | $ | 1,541 | | | $ | 2,662 | | | $ | 2,957 | | | | | | | | | |
| Earnings per share of common stock - basic | $ | 1.54 | | | $ | 2.13 | | | $ | 3.77 | | | $ | 4.07 | | | | | | | | | |
| Earnings per share of common stock - assuming dilution | $ | 1.53 | | | $ | 2.10 | | | $ | 3.74 | | | $ | 4.02 | | | | | | | | | |
---
English News:
"Honeywell Reports EPS Of $1.53, Adjusted EPS Of $1.26; Delivers $1.5 Billion Of Operating Cash Flow - CHARLOTTE, N.C., July 24, 2020 /PRNewswire/ --Honeywell (NYSE: HON) today announced results for the second quarter of 2020, which were significantly impacted by the COVID-19 pandemic and oil price volatility. The company reported a second-quarter sales decline of 19%, down 18% organic, operating margin contraction of 550 basis points, and segment margin contraction of 280 basis points, with adjusted earnings per share2 of $1.26. \"The second quarter was a challenging one, but we executed on the three things that will enable us to weather this downturn: aggressively managing cost, driving sales growth where demand is strong, and investing in exciting new technologies that, through careful attention to customer and end-user needs, will help keep people safe when they get back to the workplace, back to play, back to travel, and back to life,\" said Darius Adamczyk, chairman and chief executive officer of Honeywell. \"In terms of cost management, we delivered $500 million in savings from the first phase of cost actions we announced earlier this year, and we funded over $250 million of repositioning in the quarter. In addition, we developed a second phase of cost actions that, when combined with our previously announced plan, will generate $1.4 billion to $1.6 billion of cost savings during 2020. We further enhanced our financial flexibility this quarter by issuing $3 billion of bonds at attractive rates, reducing our term loan from $6 billion to $3 billion, and fully drawing the remaining balance. We ended the quarter with $15.1 billion of cash and short-term investments on hand and an overfunded pension plan,\" Adamczyk said. \"We also remain focused on driving sales growth in areas that have not been as impacted by the current downturn. In the second quarter, our businesses serving the defense, warehouse automation, and personal protective equipment industries exhibited outstanding performance. Orders for Intelligrated were $1.2 billion in the quarter, up triple-digits year-over-year, positioning the business for continued growth. We committed approximately $250 million of incremental growth capital expenditures compared to our previous allocated budget for new projects to accelerate our investments in personal protective equipment, Intelligrated, and other growth areas,\" Adamczyk continued. \"With an exceptional, diverse portfolio of technologies that improve safety and help our customers to be more efficient, Honeywell is uniquely equipped to support our customers in the post-COVID world. We are actively investing in and introducing new solutions, such as an efficient and effective ultraviolet light cleaner for aircraft, temperature and PPE compliance monitoring solutions, technologies that can help building owners comply with new hygiene and social distancing policies, and a new pharmaceutical packaging system for bottles and vials that preserves shelf-life and drug efficacy. \"Our focus on sales, cost, and optimizing working capital, combined with our diverse portfolio and strong balance sheet, will enable Honeywell to adapt to and execute through the downturn. I am confident we will emerge well-positioned for the economic recovery to come,\" concluded Adamczyk. Due to the evolving nature of the COVID-19 pandemic and related supply chain and market disruptions, Honeywell previously announced that it has suspended providing full financial guidance until the economic impact of COVID-19 stabilizes. The company expects ongoing top-line challenges due to the current market conditions, particularly in the aerospace and oil and gas sectors. Second-Quarter Performance Honeywell sales for the second quarter were down 19% on a reported basis and down 18% on an organic basis. The difference between reported and organic sales primarily relates to the impact of foreign currency translation. The second-quarter financial results can be found in Tables 1 and 2. Aerospace sales for the second quarter were down 27% on an organic basis driven by lower commercial aftermarket demand due to steep declines in flight hours, reduced volumes in commercial original equipment, and the 737 MAX impact in air transport original equipment, partially offset by continued strength in the Defense and Space business. Segment margin contracted 510 basis points to 20.8% driven by lower volumes and sales mix. Honeywell Building Technologies sales for the second quarter were down 17% on an organic basis driven by lower demand for security, building management, and fire products, and delays in Building Solutions projects in key verticals. Segment margin expanded 50 basis points to 21.2%. Margin performance was driven by commercial excellence and productivity actions. Performance Materials and Technologies sales for the second quarter were down 17% on an organic basis driven by volume declines in products, including thermal solutions and smart energy, in Process Solutions; lower gas processing projects, catalyst shipments, and licensing due to softness in the oil and gas sector in UOP; and lower automotive refrigerant volumes in Advanced Materials, partially offset by strength in specialty products. Segment margin contracted 460 basis points to 18.9% driven by the impact of lower sales volumes, partially offset by productivity actions. Safety and Productivity Solutions sales for the second quarter were up 1% on an organic basis driven by double-digit Intelligrated growth and demand for respiratory personal protective equipment, partially offset by lower short-cycle sales volumes in sensing and IoT, productivity products, and gas sensing. Record high bookings of $0.7 billion in PPE and $1.2 billion in Intelligrated drove orders growth up approximately 90% year-over-year. Backlog was up over 100% year-over-year, including an all-time high Intelligrated backlog of over $2 billion. Segment margin expanded 150 basis points to 13.8% driven by productivity, net of inflation, and commercial excellence. Conference Call Details Honeywell will discuss its second-quarter results and third-quarter outlook during an investor conference call starting at 8:30 a.m. Eastern Daylight Time today. To participate on the conference call, please dial (866) 548-4713 (domestic) or (323) 794-2093 (international) approximately ten minutes before the 8:30 a.m. EDT start.Please mention to the operator that you are dialing in for Honeywell's second-quarter 2020 earnings call or provide the conference code HON2Q20. The live webcast of the investor call as well as related presentation materials will be available through the Investor Relations section of the company's website (www.honeywell.com/investor). Investors can hear a replay of the conference call from 12:30 p.m. EDT, July 24, until 12:30 p.m. EDT, July 31, by dialing (888) 203-1112 (domestic) or (719) 457-0820 (international). The access code is 7938730. TABLE 1: SUMMARY OF HONEYWELL FINANCIAL RESULTS 2Q 2020 2Q 2019 Change Sales 7,477 9,243 (19%) Organic Growth (18%) Segment Margin 18.5% 21.3% -280 bps Operating Income Margin 13.6% 19.1% -550 bps Earnings Per Share $1.53 $2.10 (27%) Adjusted Earnings Per Share2 $1.26 $2.10 (40%) Cash Flow from Operations 1,480 1,678 (12%) Operating Cash Flow Conversion 137% 109% 28% Free Cash Flow 1,253 1,507 (17%) Adjusted Free Cash Flow3 1,253 1,535 (18%) Adjusted Free Cash Flow Conversion1 140% 100% 40% TABLE 2: SUMMARY OF SEGMENT FINANCIAL RESULTS AEROSPACE 2Q 2020 2Q 2019 Change Sales 2,543 3,508 (28%) Organic Growth (27%) Segment Profit 528 907 (42%) Segment Margin 20.8% 25.9% -510 bps HONEYWELL BUILDING TECHNOLOGIES Sales 1,177 1,450 (19%) Organic Growth (17%) Segment Profit 250 300 (17%) Segment Margin 21.2% 20.7% 50 bps PERFORMANCE MATERIALS AND TECHNOLOGIES Sales 2,218 2,735 (19%) Organic Growth (17%) Segment Profit 419 644 (35%) Segment Margin 18.9% 23.5% -460 bps SAFETY AND PRODUCTIVITY SOLUTIONS Sales 1,539 1,550 (1%) Organic Growth 1% Segment Profit 213 191 12% Segment Margin 13.8% 12.3% 150 bps 1Adjusted free cash flow conversion excludes impacts from separation costs related to the spin-offs of $28M in 2Q19 and 2Q20 favorable resolution of a foreign tax matter related to the spin-off transactions 2Adjusted EPS and adjusted EPS V% exclude 2Q20 favorable resolution of a foreign tax matter related to the spin-off transactions 3Adjusted free cash flow excludes impacts from separation costs related to the spin-offs of $28M in 2Q19 Honeywell (www.honeywell.com) is a Fortune 100 technology company that delivers industry specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help everything from aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom. This release contains certain statements that may be deemed \"forward-looking statements\" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, technological, and COVID-19 public health factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, and other developments, including the potential impact of the COVID-19 pandemic, and business decisions may differ from those envisaged by such forward-looking statements. Any forward-looking plans described herein are not final and may be modified or abandoned at any time. No final decision will be taken with respect to such plans or proposals without prior satisfaction of any applicable requirements with respect to informing, consulting or negotiating with employees or their representatives. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission. This release contains financial measures presented on a non-GAAP basis. Honeywell's non-GAAP financial measures used in this release are as follows: segment profit, on an overall Honeywell basis, a measure by which we assess operating performance, which we define as operating income adjusted for certain items as presented in the Appendix; segment margin, on an overall Honeywell basis, which we define as segment profit divided by sales; organic sales growth, which we define as sales growth less the impacts from foreign currency translation, and acquisitions and divestitures for the first 12 months following transaction date; free cash flow, which we define as cash flow from operations less capital expenditures; adjusted free cash flow, which we define as cash flow from operations less capital expenditures and which we adjust to exclude the impact of separation costs related to the spin-offs of Resideo and Garrett, if and as noted in the release; adjusted free cash flow conversion, which we define as adjusted free cash flow divided by net income attributable to Honeywell, excluding separation costs related to the spin-offs and the impact of the favorable resolution of a foreign tax matter related to the spin-off transactions, if and as noted in the release; and adjusted earnings per share, which we adjust to exclude the favorable resolution of a foreign tax matter related to the spin-off transactions. Management believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. These metrics should be considered in addition to, and not as replacements for, the most comparable GAAP measure. Refer to the Appendix attached to this release for reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures. Honeywell International Inc. Consolidated Statement of Operations (Unaudited) (Dollars in millions, except per share amounts) Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Product sales $ 5,743 $ 6,990 $ 12,048 $ 13,703 Service sales 1,734 2,253 3,892 4,424 Net sales 7,477 9,243 15,940 18,127 Costs, expenses and other Cost of products sold (1) 4,163 4,848 8,537 9,470 Cost of services sold (1) 1,113 1,246 2,273 2,503 5,276 6,094 10,810 11,973 Selling, general and administrative expenses (1) 1,183 1,387 2,421 2,750 Other (income) expense (291) (305) (608) (590) Interest and other financial charges 90 85 163 170 6,258 7,261 12,786 14,303 Income before taxes 1,219 1,982 3,154 3,824 Tax expense (benefit) 120 426 449 832 Net income 1,099 1,556 2,705 2,992 Less: Net income attributable to the noncontrolling interest 18 15 43 35 Net income attributable to Honeywell $ 1,081 $ 1,541 $ 2,662 $ 2,957 Earnings per share of common stock - basic $ 1.54 $ 2.13 $ 3.77 $ 4.07 Earnings per share of common stock - assuming dilution $ 1.53 $ 2.10 $ 3.74 $ 4.02 Weighted average number of shares outstanding - basic 702.3 723.2 705.9 726.4 Weighted average number of shares outstanding - assuming dilution 708.1 733.0 712.6 735.9 (1) Cost of products and services sold and selling, general and administrative expenses include amounts for repositioning and other charges, the service cost component of pension and other postretirement (income) expense, and stock compensation expense. Honeywell International Inc. Segment Data (Unaudited) (Dollars in millions) Three Months Ended June 30, Six Months Ended June 30, Net Sales 2020 2019 2020 2019 Aerospace $ 2,543 $ 3,508 $ 5,904 $ 6,849 Honeywell Building Technologies 1,177 1,450 2,458 2,839 Performance Materials and Technologies 2,218 2,735 4,615 5,307 Safety and Productivity Solutions 1,539 1,550 2,963 3,132 Total $ 7,477 $ 9,243 $ 15,940 $ 18,127 Reconciliation of Segment Profit to Income Before Taxes Three Months Ended June 30, Six Months Ended June 30, Segment Profit 2020 2019 2020 2019 Aerospace $ 528 $ 907 $ 1,465 $ 1,745 Honeywell Building Technologies 250 300 512 571 Performance Materials and Technologies 419 644 931 1,208 Safety and Productivity Solutions 213 191 391 403 Corporate (25) (72) (66) (148) Total segment profit 1,385 1,970 3,233 3,779 Interest and other financial charges (90) (85) (163) (170) Stock compensation expense (1) (34) (34) (78) (75) Pension ongoing income (2) 198 148 396 299 Other postretirement income (2) 14 11 27 23 Repositioning and other charges (3,4) (280) (126) (342) (210) Other (5) 26 98 81 178 Income before taxes $ 1,219 $ 1,982 $ 3,154 $ 3,824 (1) Amounts included in Selling, general and administrative expenses. (2) Amounts included in Cost of products and services sold and Selling, general and administrative expenses (service costs) and Other income/expense (non-service cost components). (3) Amounts included in Cost of products and services sold, Selling, general and administrative expenses, and Other income/expense. (4) Includes repositioning, asbestos, and environmental expenses. (5) Amounts include the other components of Other income/expense not included within other categories in this reconciliation. Equity income (loss) of affiliated companies is included in segment profit. Honeywell International Inc. Consolidated Balance Sheet (Unaudited) (Dollars in millions) June 30, 2020 December 31,2019 ASSETS Current assets: Cash and cash equivalents $ 13,778 $ 9,067 Short-term investments 1,349 1,349 Accounts receivable - net 6,717 7,493 Inventories 4,753 4,421 Other current assets 1,724 1,973 Total current assets 28,321 24,303 Investments and long-term receivables 626 588 Property, plant and equipment - net 5,327 5,325 Goodwill 15,518 15,563 Other intangible assets - net 3,551 3,734 Insurance recoveries for asbestos related liabilities 379 392 Deferred income taxes 106 86 Other assets 9,776 8,688 Total assets $ 63,604 $ 58,679 LIABILITIES Current liabilities: Accounts payable $ 5,366 $ 5,730 Commercial paper and other short-term borrowings 3,531 3,516 Current maturities of long-term debt 967 1,376 Accrued liabilities 7,477 7,476 Total current liabilities 17,341 18,098 Long-term debt 17,591 11,110 Deferred income taxes 1,461 1,670 Postretirement benefit obligations other than pensions 317 326 Asbestos related liabilities 1,894 1,996 Other liabilities 6,627 6,766 Redeemable noncontrolling interest 7 7 Shareowners' equity 18,366 18,706 Total liabilities, redeemable noncontrolling interest and shareowners' equity $ 63,604 $ 58,679 Honeywell International Inc. Consolidated Statement of Cash Flows (Unaudited) (Dollars in millions) Three Months EndedJune 30, Six Months EndedJune 30, 2020 2019 2020 2019 Cash flows from operating activities: Net income $ 1,099 $ 1,556 $ 2,705 $ 2,992 Less: Net income attributable to the noncontrolling interest 18 15 43 35 Net income attributable to Honeywell 1,081 1,541 2,662 2,957 Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities: Depreciation 161 172 314 335 Amortization 89 123 179 221 Repositioning and other charges 280 126 342 210 Net payments for repositioning and other charges (198) (51) (309) (85) Pension and other postretirement income (211) (159) (423) (322) Pension and other postretirement benefit payments (9) (15) (23) (45) Stock compensation expense 34 34 78 75 Deferred income taxes (219) (36) (277) 44 Other (106) 9 (285) 5 Changes in assets and liabilities, net of the effects of acquisitions and divestitures: Accounts receivable 735 (100) 776 98 Inventories (168) (52) (331) (273) Other current assets (60) (22) 106 (239) Accounts payable (310) 21 (364) (8) Accrued liabilities 381 87 (26) (161) Net cash provided by (used for) operating activities 1,480 1,678 2,419 2,812 Cash flows from investing activities: Expenditures for property, plant and equipment (227) (171) (366) (312) Proceeds from disposals of property, plant and equipment 8 7 10 Increase in investments (1,023) (1,048) (1,671) (2,274) Decrease in investments 746 1,367 1,589 2,163 Receipts (payments) from settlements of derivative contracts (204) 110 83 70 Net cash provided by (used for) investing activities (708) 266 (358) (343) Cash flows from financing activities: Proceeds from issuance of commercial paper and other short-term borrowings 3,710 3,796 7,165 7,114 Payments of commercial paper and other short-term borrowings (3,721) (3,796) (7,094) (7,115) Proceeds from issuance of common stock 31 233 97 378 Proceeds from issuance of long-term debt 5,974 9 7,101 29 Payments of long-term debt (93) (71) (1,218) (84) Repurchases of common stock (62) (1,900) (1,985) (2,650) Cash dividends paid (650) (597) (1,285) (1,203) Other (2) (2) (40) (32) Net cash provided by (used for) financing activities 5,187 (2,328) 2,741 (3,563) Effect of foreign exchange rate changes on cash and cash equivalents 98 (16) (91) 32 Net increase (decrease) in cash and cash equivalents 6,057 (400) 4,711 (1,062) Cash and cash equivalents at beginning of period 7,721 8,625 9,067 9,287 Cash and cash equivalents at end of period $ 13,778 $ 8,225 $ 13,778 $ 8,225 Honeywell International Inc. Reconciliation of Organic Sales % Change (Unaudited) Three Months EndedJune 30, 2020 Honeywell Reported sales % change (19)% Less: Foreign currency translation (1)% Less: Acquisitions, divestitures and other, net % Organic sales % change (18)% Aerospace Reported sales % change (28)% Less: Foreign currency translation % Less: Acquisitions, divestitures and other, net (1)% Organic sales % change (27)% Honeywell Building Technologies Reported sales % change (19)% Less: Foreign currency translation (2)% Less: Acquisitions, divestitures and other, net % Organic sales % change (17)% Performance Materials and Technologies Reported sales % change (19)% Less: Foreign currency translation (2)% Less: Acquisitions, divestitures and other, net % Organic sales % change (17)% Safety and Productivity Solutions Reported sales % change (1)% Less: Foreign currency translation (2)% Less: Acquisitions, divestitures and other, net % Organic sales % change 1% We define organic sales percent as the year-over-year change in reported sales relative to the comparable period, excluding the impact on sales from foreign currency translation and acquisitions, net of divestitures. We believe this measure is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. Honeywell International Inc. Reconciliation of Segment Profit to Operating Income and Calculation of Segment Profit and Operating Income Margins (Unaudited) (Dollars in millions) Three Months Ended June 30, 2020 2019 Segment profit $ 1,385 $ 1,970 Stock compensation expense (1) (34) (34) Repositioning, Other (2,3) (295) (137) Pension and other postretirement service costs (4) (38) (37) Operating income $ 1,018 $ 1,762 Segment profit $ 1,385 $ 1,970 Net sales $ 7,477 $ 9,243 Segment profit margin % 18.5 % 21.3 % Operating income $ 1,018 $ 1,762 Net sales $ 7,477 $ 9,243 Operating income margin % 13.6 % 19.1 % (1) Included in Selling, general and administrative expenses. (2) Includes repositioning, asbestos, environmental expenses and equity income adjustment. (3) Included in Cost of products and services sold, Selling, general and administrative expenses and Other income/expense. (4) Included in Cost of products and services sold and Selling, general and administrative expenses. We define segment profit as operating income, excluding stock compensation expense, pension and other postretirement service costs, and repositioning and other charges. We believe these measures are useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. Honeywell International Inc. Reconciliation of Earnings per Share to Adjusted Earnings per Share (Unaudited) Three Months Ended June 30, June 30, 2020 June 30, 2019 Earnings per share of common stock - assuming dilution (1) $ 1.53 $ 2.10 Separation-related tax adjustment (2) (0.27) Adjusted earnings per share of common stock - assuming dilution $ 1.26 $ 2.10 (1) For the three months ended June 30, 2020 and 2019, adjusted earnings per share utilizes weighted average shares of approximately 708.1 million and 733.0 million. (2) For the three months ended June 30, 2020, separation-related tax adjustment of $186 million ($186 million net of tax) includes the favorable resolution of a foreign tax matter related to the spin-off transactions. We believe adjusted earnings per share, excluding spin-off impact, is a measure that is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. For forward looking information, management cannot reliably predict or estimate, without unreasonable effort, the pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. We therefore do not include an estimate for the pension mark-to-market expense. Based on economic and industry conditions, future developments and other relevant factors, these assumptions are subject to change. Honeywell International Inc. Reconciliation of Cash Provided by Operating Activities to Adjusted Free Cash Flow and Calculation of Adjusted Free Cash Flow Conversion (Unaudited) (Dollars in millions) Three MonthsEnded June 30, 2020 Three MonthsEnded June 30, 2019 Cash provided by operating activities $ 1,480 $ 1,678 Expenditures for property, plant and equipment (227) (171) Free cash flow 1,253 1,507 Separation cost payments 28 Adjusted free cash flow $ 1,253 $ 1,535 Net income attributable to Honeywell 1,081 1,541 Separation-related tax adjustment (186) Adjusted net income attributable to Honeywell $ 895 $ 1,541 Cash provided by operating activities $ 1,480 $ 1,678 Net income (loss) attributable to Honeywell $ 1,081 $ 1,541 Operating cash flow conversion 137 % 109 % Adjusted free cash flow $ 1,253 $ 1,535 Adjusted net income attributable to Honeywell $ 895 $ 1,541 Adjusted free cash flow conversion % 140 % 100 % We define free cash flow as cash provided by operating activities less cash expenditures for property, plant and equipment. We believe that this metric is useful to investors and management as a measure of cash generated by business operations that will be used to repay scheduled debt maturities and can be used to invest in future growth through new business development activities or acquisitions, pay dividends, repurchase stock or repay debt obligations prior to their maturities. This metric can also be used to evaluate our ability to generate cash flow from business operations and the impact that this cash flow has on our liquidity. Contacts: Media Investor Relations Nina Krauss Mark Bendza (704) 627-6035 (704) 627-6200 [emailprotected] [emailprotected] SOURCE Honeywell Related Links http://www.honeywell.com"
Chinese News:
7月24日，霍尼韦尔发布财报称，第二季度公司营收74.8亿美元，同比下降19%；净利润10.8亿美元，去年同期为15.4亿美元。
Japanese News:
米国株式市場は続落して取引を終了した。週末を前に、新型コロナウイルス感染者数の急激な増加、企業決算が軟調だったこと、および地政学的な不透明感が広がったことで、幅広い銘柄に売りが出た。 特に主要指数の重しとなったのはハイテク銘柄で、半導体大手のインテルが、次世代半導体技術（回路線幅7ナノメートル）の開発遅延を発表したことで16.2％の急落を記録した。 LPLファイナンシャルのシニア市場ストラテジストであるライアン・デトリック氏は、「週末を控え市場に不安が広がっている」と述べ、ここ2カ月間のナスダック指数やハイテク株の急激な上昇を考えれば調整局面に入ってもおかしくないと指摘した。 週単位では主要3指数がいずれも下落し、S&P500指数とダウ平均株価は4週ぶりにマイナスに転じたほか、ナスダック総合指数も過去4週間で最大の下げ幅を記録した。 S&P500指数は直近、2月に付けた過去最高値から約5％下回る水準まで戻していたが、年初来で見るとほぼ横ばいで推移している。対照的にナスダック総合指数は、年初来で約15％上昇している。 デトリック氏は、来週には米連邦公開市場委員会（FOMC）の開催や企業決算発表、さらに米国GDP速報値の発表が予定されており、市場に不安感が広がるのも自然な流れだと述べた。 来週30日にはアップル、アルファベット、アマゾンが決算発表を控えるほか、第2四半期のGDP速報値が米商務省より発表される予定だ。アナリストの予測では、第2四半期GDPは35％減少すると見込まれている。 米国内の新型コロナ感染者数は累計で400万人を超え、23日には死者数が3日連続で1000人以上増加した。 また、中国政府が四川省成都市にある米国総領事館の閉鎖を通知したことも市場心理の重しとなった。これは米政府がテキサス州ヒューストンの中国総領事館の閉鎖を命じたことへの報復措置とみられる。 業種別ではS&P500の11セクターのうち、一般消費財を除くすべてが下落。特に情報技術セクターの下落率が最も大きかった。 ヘルスケアセクターは、トランプ政権が薬価引き下げに関する大統領令を準備していることを背景に1.1％の下落を記録した。 決算関連ではS&P500企業のうち128社が第2四半期決算を発表し、約80.5％がアナリストの慎重な事前予想を上回った。 個別銘柄では、クレジットカード大手アメリカン・エキスプレスが世界的なロックダウンによるカード利用低迷で利益が85％減となり、株価は1.4％下落した。一方、通信大手ベライゾンは在宅勤務需要に伴う通信サービスの利用増加で市場予想を上回る業績を発表し、株価が1.8％上昇した。 複合企業ハネウェルは利益が市場予想を上回ったが、先行き不透明感を背景に2.8％下落。インテルの競合企業であるアドバンスト・マイクロ・デバイセズ（AMD）は16.5％高となった。電気自動車メーカーのテスラは6.3％の下落を続けた。 ニューヨーク証券取引所では値下がり銘柄が値上がり銘柄を約1.92倍上回り、ナスダックでも約2.77倍の比率で値下がり銘柄が多かった。米国市場の総合取引高は95億7000万株で、直近20営業日の平均110億4000万株を下回った。
Spanish News:
El grupo industrial estadounidense Honeywell obtuvo un beneficio neto atribuido de 1.081 millones de dólares (933 millones de euros) en el segundo trimestre de 2020, lo que representa una caída del 29,8% en comparación con el resultado contabilizado por la multinacional en el mismo periodo de 2019, informó la compañía. Las ventas de Honeywell entre abril y junio alcanzaron los 7.477 millones de dólares (6.452 millones de euros), un 19,1% menos que un año antes, incluyendo una bajada del 27,5% de los ingresos del negocio aeroespacial, hasta 2.543 millones de dólares (2.194 millones de euros) y del 19% en la división de construcción, hasta 1.177 millones de dólares (1.015 millones de euros). Por su parte, la facturación del negocio de materiales y tecnologías de Honeywell recortó un 19% sus ingresos en el segundo trimestre, hasta 2.218 millones de dólares (1.914 millones de euros), mientras que la unidad de seguridad y productividad facturó un 1% menos, hasta 1.539 millones de dólares (1.328 millones de euros). "El segundo trimestre fue difícil, pero ejecutamos las tres cosas que nos permitirán hacer frente a esta recesión: administrar agresivamente los costes, impulsar el crecimiento de las ventas donde la demanda es fuerte e invertir en nuevas tecnologías", subrayó Darius Adamczyk, presidente y consejero delegado de la empresa. En el primer semestre, Honeywell obtuvo un beneficio neto atribuido de 2.662 millones de dólares (2.297 millones de euros), un 10% por debajo de su resultado de la primera mitad de 2019. De su lado, las ventas de la compañía de Carolina del Norte cayeron un 12%, hasta 15.940 millones de dólares (13.756 millones de euros). Por otro lado, la firma indicó que tras alcanzar un ahorro de costes de 500 millones de dólares (431 millones de euros) en el trimestre, espera ampliar este ajuste en la segunda mitad del año, para alcanzar una cifra agregada de ahorro de entre 1.400 y 1.600 millones de dólares (1.208 y 1.381 millones de euros).
Greek News:
Η εταιρία Honeywell πρόσφατα υπέγραψε σύμβαση με την ουκρανική ενεργειακή εταιρεία DTEK για την αποκατάσταση του πρώτου συστήματος αποθήκευσης ενέργειας με μπαταρίες σε κλίμακα δικτύου στην Ουκρανία. Αυτό το πιλοτικό έργο, περιλαμβάνει μια μπαταρία ιόντων λιθίου η οποία θα τοποθετηθεί στον θερμοηλεκτρικό σταθμό Ζαπορίζια και θα είναι ισχύος 1MW και χωρητικότητας 1,5 MWh. Σκοπός αυτού του συστήματος η υποστήριξη της σταθερότητας του δικτύου με τη παροχή υπηρεσιών συγκράτησης συχνότητας αλλά και ενεργειακό arbitrage, φορτίζοντας σε περιόδους χαμηλής ζήτησης και εκφορτίζοντας κατά τις ώρες αιχμής. Η εταιρία έχει ως στρατηγική την ενίσχυση της παρουσίας της σε λύσεις ενεργειακής μετάβασης, παρά τη συνολική επιβράδυνση στον τομέα Υλικώ Απόδοσης και Τεχνολογιών (PMT) της εταιρίας. Σε αυτή τη στρατηγική εντάσσεται και το παραπάνω έργο. Ο τομέας αυτός, κατέγραψε μείωση εσόδων συγκεκριμένα $2,218 εκατ. το δεύτερο τρίμηνο του 2020, συγκριτικά με $2,735 εκατ. την αντίστοιχη περίοδο του 2019, λόγω κυρίως της μείωσης της παγκόσμιας ζήτησης ενέργειας κατά την πανδημία. Παρότι οι τεχνολογίες της Honeywell υποστηρίζουν κρίσιμες λειτουργίες σε βιομηχανίες πετρελαίου, φυσικού αερίου και ανανεώσιμων καυσίμων, η πτώση των εσόδων αντανακλά τις ευρύτερες πιέσεις στις κεφαλαιουχικές δαπάνες και τις επενδύσεις στον ενεργειακό τομέα. Το πιλοτικό έργο στην Ουκρανία ενδέχεται να λειτουργήσει ως σταθμός για την ενίσχυση των πράσινων τεχνολογιών της εταιρείας σε αναδυόμενες αγορές.
Question:
Please list the top three focuses on revenue from news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | Please list the top three focuses on revenue from news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: 1. Aerospace – $2.543B in Q2 FY2020 (down 28%), hit hard by lower commercial aviation demand. 2. Performance Materials and Technologies (PMT) – $2.218B (down 19%), pressured by oil & gas softness. 3. Safety and Productivity Solutions (SPS) – $1.539B (flat YoY), bolstered by strong PPE and automation demand.
Financial Statement Evidence: In Q2 FY2020, Honeywell’s $7.5B in total revenue consisted of $5.7B in product sales and $1.7B in service sales. In Q2 FY2019, the $9.2B in revenue included $7.0B from product sales and $2.3B from service sales, showing declines in both categories, particularly product sales. |
HON_20200724 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:------------------------------------------------------------------------------|:----------------------|:-----------|:------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | June 30, 2020 | | December 31, 2019 | | | | | | | | |
| | (Dollars in millions) | | | | | | | | | | |
| ASSETS | | | | | | | | | | | |
| Current assets: | | | | | | | | | | | |
| Cash and cash equivalents | $ | 13,778 | | | $ | 9,067 | | | | | |
| Short-term investments | 1,349 | | | 1,349 | | | | | | | |
| Accounts receivable - net | 6,717 | | | 7,493 | | | | | | | |
| Inventories | 4,753 | | | 4,421 | | | | | | | |
| Other current assets | 1,724 | | | 1,973 | | | | | | | |
| Total current assets | 28,321 | | | 24,303 | | | | | | | |
| Investments and long-term receivables | 626 | | | 588 | | | | | | | |
| Property, plant and equipment - net | 5,327 | | | 5,325 | | | | | | | |
| Goodwill | 15,518 | | | 15,563 | | | | | | | |
| Other intangible assets - net | 3,551 | | | 3,734 | | | | | | | |
| Insurance recoveries for asbestos related liabilities | 379 | | | 392 | | | | | | | |
| Deferred income taxes | 106 | | | 86 | | | | | | | |
| Other assets | 9,776 | | | 8,688 | | | | | | | |
| Total assets | $ | 63,604 | | | $ | 58,679 | | | | | |
| LIABILITIES | | | | | | | | | | | |
| Current liabilities: | | | | | | | | | | | |
| Accounts payable | $ | 5,366 | | | $ | 5,730 | | | | | |
| Commercial paper and other short-term borrowings | 3,531 | | | 3,516 | | | | | | | |
| Current maturities of long-term debt | 967 | | | 1,376 | | | | | | | |
| Accrued liabilities | 7,477 | | | 7,476 | | | | | | | |
| Total current liabilities | 17,341 | | | 18,098 | | | | | | | |
| Long-term debt | 17,591 | | | 11,110 | | | | | | | |
| Deferred income taxes | 1,461 | | | 1,670 | | | | | | | |
| Postretirement benefit obligations other than pensions | 317 | | | 326 | | | | | | | |
| Asbestos related liabilities | 1,894 | | | 1,996 | | | | | | | |
| Other liabilities | 6,627 | | | 6,766 | | | | | | | |
| Redeemable noncontrolling interest | 7 | | | 7 | | | | | | | |
| SHAREOWNERS’ EQUITY | | | | | | | | | | | |
| Capital - common stock issued | 958 | | | 958 | | | | | | | |
| - additional paid-in capital | 7,104 | | | 6,876 | | | | | | | |
| Common stock held in treasury, at cost | (25,685) | | | (23,836) | | | | | | | |
| Accumulated other comprehensive loss | (3,310) | | | (3,197) | | | | | | | |
| Retained earnings | 39,080 | | | 37,693 | | | | | | | |
| Total Honeywell shareowners’ equity | 18,147 | | | 18,494 | | | | | | | |
| Noncontrolling interest | 219 | | | 212 | | | | | | | |
| Total shareowners’ equity | 18,366 | | | 18,706 | | | | | | | |
| Total liabilities, redeemable noncontrolling interest and shareowners’ equity | $ | 63,604 | | | $ | 58,679 | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:------------------------------------------------------------------------------------------------------------|:--------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | Six Months Ended June 30, | | | | | | | | | | |
| | 2020 | | 2019 | | | | | | | | |
| | (Dollars in millions) | | | | | | | | | | |
| Cash flows from operating activities: | | | | | | | | | | | |
| Net income | $ | 2,705 | | | $ | 2,992 | | | | | |
| Less: Net income attributable to the noncontrolling interest | 43 | | | 35 | | | | | | | |
| Net income attributable to Honeywell | 2,662 | | | 2,957 | | | | | | | |
| Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities: | | | | | | | | | | | |
| Depreciation | 314 | | | 335 | | | | | | | |
| Amortization | 179 | | | 221 | | | | | | | |
| | | | | | | | | | | | |
| Repositioning and other charges | 342 | | | 210 | | | | | | | |
| Net payments for repositioning and other charges | (309) | | | (85) | | | | | | | |
| Pension and other postretirement income | (423) | | | (322) | | | | | | | |
| Pension and other postretirement benefit payments | (23) | | | (45) | | | | | | | |
| Stock compensation expense | 78 | | | 75 | | | | | | | |
| Deferred income taxes | (277) | | | 44 | | | | | | | |
| Other | (285) | | | 5 | | | | | | | |
| Changes in assets and liabilities, net of the effects of acquisitions and divestitures: | | | | | | | | | | | |
| Accounts receivable | 776 | | | 98 | | | | | | | |
| Inventories | (331) | | | (273) | | | | | | | |
| Other current assets | 106 | | | (239) | | | | | | | |
| Accounts payable | (364) | | | (8) | | | | | | | |
| Accrued liabilities | (26) | | | (161) | | | | | | | |
| Net cash provided by (used for) operating activities | 2,419 | | | 2,812 | | | | | | | |
| Cash flows from investing activities: | | | | | | | | | | | |
| Expenditures for property, plant and equipment | (366) | | | (312) | | | | | | | |
| Proceeds from disposals of property, plant and equipment | 7 | | | 10 | | | | | | | |
| Increase in investments | (1,671) | | | (2,274) | | | | | | | |
| Decrease in investments | 1,589 | | | 2,163 | | | | | | | |
| | | | | | | | | | | | |
| Receipts (payments) from settlements of derivative contracts | 83 | | | 70 | | | | | | | |
| Net cash provided by (used for) investing activities | (358) | | | (343) | | | | | | | |
| Cash flows from financing activities: | | | | | | | | | | | |
| Proceeds from issuance of commercial paper and other short-term borrowings | 7,165 | | | 7,114 | | | | | | | |
| Payments of commercial paper and other short-term borrowings | (7,094) | | | (7,115) | | | | | | | |
| Proceeds from issuance of common stock | 97 | | | 378 | | | | | | | |
| Proceeds from issuance of long-term debt | 7,101 | | | 29 | | | | | | | |
| Payments of long-term debt | (1,218) | | | (84) | | | | | | | |
| Repurchases of common stock | (1,985) | | | (2,650) | | | | | | | |
| Cash dividends paid | (1,285) | | | (1,203) | | | | | | | |
| Other | (40) | | | (32) | | | | | | | |
| Net cash provided by (used for) financing activities | 2,741 | | | (3,563) | | | | | | | |
| Effect of foreign exchange rate changes on cash and cash equivalents | (91) | | | 32 | | | | | | | |
| Net increase (decrease) in cash and cash equivalents | 4,711 | | | (1,062) | | | | | | | |
| Cash and cash equivalents at beginning of period | 9,067 | | | 9,287 | | | | | | | |
| Cash and cash equivalents at end of period | $ | 13,778 | | | $ | 8,225 | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 | Column 22 | Column 23 | Column 24 |
|:-------------------------------------------------------------|:------------------------------------------------|:-----------|:-----------|:-----------|:--------------------------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | | | | |
| | Three Months Ended June 30, | | | | Six Months Ended June 30, | | | | | | | | | | | | | | | | | | |
| | 2020 | | 2019 | | 2020 | | 2019 | | | | | | | | | | | | | | | | |
| | (Dollars in millions, except per share amounts) | | | | | | | | | | | | | | | | | | | | | | |
| Product sales | $ | 5,743 | | | $ | 6,990 | | | $ | 12,048 | | | $ | 13,703 | | | | | | | | | |
| Service sales | 1,734 | | | 2,253 | | | 3,892 | | | 4,424 | | | | | | | | | | | | | |
| Net sales | 7,477 | | | 9,243 | | | 15,940 | | | 18,127 | | | | | | | | | | | | | |
| Costs, expenses and other | | | | | | | | | | | | | | | | | | | | | | | |
| Cost of products sold | 4,163 | | | 4,848 | | | 8,537 | | | 9,470 | | | | | | | | | | | | | |
| Cost of services sold | 1,113 | | | 1,246 | | | 2,273 | | | 2,503 | | | | | | | | | | | | | |
| | 5,276 | | | 6,094 | | | 10,810 | | | 11,973 | | | | | | | | | | | | | |
| Selling, general and administrative expenses | 1,183 | | | 1,387 | | | 2,421 | | | 2,750 | | | | | | | | | | | | | |
| Other (income) expense | (291) | | | (305) | | | (608) | | | (590) | | | | | | | | | | | | | |
| Interest and other financial charges | 90 | | | 85 | | | 163 | | | 170 | | | | | | | | | | | | | |
| | 6,258 | | | 7,261 | | | 12,786 | | | 14,303 | | | | | | | | | | | | | |
| Income before taxes | 1,219 | | | 1,982 | | | 3,154 | | | 3,824 | | | | | | | | | | | | | |
| Tax expense (benefit) | 120 | | | 426 | | | 449 | | | 832 | | | | | | | | | | | | | |
| Net income | 1,099 | | | 1,556 | | | 2,705 | | | 2,992 | | | | | | | | | | | | | |
| Less: Net income attributable to the noncontrolling interest | 18 | | | 15 | | | 43 | | | 35 | | | | | | | | | | | | | |
| Net income attributable to Honeywell | $ | 1,081 | | | $ | 1,541 | | | $ | 2,662 | | | $ | 2,957 | | | | | | | | | |
| Earnings per share of common stock - basic | $ | 1.54 | | | $ | 2.13 | | | $ | 3.77 | | | $ | 4.07 | | | | | | | | | |
| Earnings per share of common stock - assuming dilution | $ | 1.53 | | | $ | 2.10 | | | $ | 3.74 | | | $ | 4.02 | | | | | | | | | |
---
English News:
"Honeywell Reports EPS Of $1.53, Adjusted EPS Of $1.26; Delivers $1.5 Billion Of Operating Cash Flow - CHARLOTTE, N.C., July 24, 2020 /PRNewswire/ --Honeywell (NYSE: HON) today announced results for the second quarter of 2020, which were significantly impacted by the COVID-19 pandemic and oil price volatility. The company reported a second-quarter sales decline of 19%, down 18% organic, operating margin contraction of 550 basis points, and segment margin contraction of 280 basis points, with adjusted earnings per share2 of $1.26. \"The second quarter was a challenging one, but we executed on the three things that will enable us to weather this downturn: aggressively managing cost, driving sales growth where demand is strong, and investing in exciting new technologies that, through careful attention to customer and end-user needs, will help keep people safe when they get back to the workplace, back to play, back to travel, and back to life,\" said Darius Adamczyk, chairman and chief executive officer of Honeywell. \"In terms of cost management, we delivered $500 million in savings from the first phase of cost actions we announced earlier this year, and we funded over $250 million of repositioning in the quarter. In addition, we developed a second phase of cost actions that, when combined with our previously announced plan, will generate $1.4 billion to $1.6 billion of cost savings during 2020. We further enhanced our financial flexibility this quarter by issuing $3 billion of bonds at attractive rates, reducing our term loan from $6 billion to $3 billion, and fully drawing the remaining balance. We ended the quarter with $15.1 billion of cash and short-term investments on hand and an overfunded pension plan,\" Adamczyk said. \"We also remain focused on driving sales growth in areas that have not been as impacted by the current downturn. In the second quarter, our businesses serving the defense, warehouse automation, and personal protective equipment industries exhibited outstanding performance. Orders for Intelligrated were $1.2 billion in the quarter, up triple-digits year-over-year, positioning the business for continued growth. We committed approximately $250 million of incremental growth capital expenditures compared to our previous allocated budget for new projects to accelerate our investments in personal protective equipment, Intelligrated, and other growth areas,\" Adamczyk continued. \"With an exceptional, diverse portfolio of technologies that improve safety and help our customers to be more efficient, Honeywell is uniquely equipped to support our customers in the post-COVID world. We are actively investing in and introducing new solutions, such as an efficient and effective ultraviolet light cleaner for aircraft, temperature and PPE compliance monitoring solutions, technologies that can help building owners comply with new hygiene and social distancing policies, and a new pharmaceutical packaging system for bottles and vials that preserves shelf-life and drug efficacy. \"Our focus on sales, cost, and optimizing working capital, combined with our diverse portfolio and strong balance sheet, will enable Honeywell to adapt to and execute through the downturn. I am confident we will emerge well-positioned for the economic recovery to come,\" concluded Adamczyk. Due to the evolving nature of the COVID-19 pandemic and related supply chain and market disruptions, Honeywell previously announced that it has suspended providing full financial guidance until the economic impact of COVID-19 stabilizes. The company expects ongoing top-line challenges due to the current market conditions, particularly in the aerospace and oil and gas sectors. Second-Quarter Performance Honeywell sales for the second quarter were down 19% on a reported basis and down 18% on an organic basis. The difference between reported and organic sales primarily relates to the impact of foreign currency translation. The second-quarter financial results can be found in Tables 1 and 2. Aerospace sales for the second quarter were down 27% on an organic basis driven by lower commercial aftermarket demand due to steep declines in flight hours, reduced volumes in commercial original equipment, and the 737 MAX impact in air transport original equipment, partially offset by continued strength in the Defense and Space business. Segment margin contracted 510 basis points to 20.8% driven by lower volumes and sales mix. Honeywell Building Technologies sales for the second quarter were down 17% on an organic basis driven by lower demand for security, building management, and fire products, and delays in Building Solutions projects in key verticals. Segment margin expanded 50 basis points to 21.2%. Margin performance was driven by commercial excellence and productivity actions. Performance Materials and Technologies sales for the second quarter were down 17% on an organic basis driven by volume declines in products, including thermal solutions and smart energy, in Process Solutions; lower gas processing projects, catalyst shipments, and licensing due to softness in the oil and gas sector in UOP; and lower automotive refrigerant volumes in Advanced Materials, partially offset by strength in specialty products. Segment margin contracted 460 basis points to 18.9% driven by the impact of lower sales volumes, partially offset by productivity actions. Safety and Productivity Solutions sales for the second quarter were up 1% on an organic basis driven by double-digit Intelligrated growth and demand for respiratory personal protective equipment, partially offset by lower short-cycle sales volumes in sensing and IoT, productivity products, and gas sensing. Record high bookings of $0.7 billion in PPE and $1.2 billion in Intelligrated drove orders growth up approximately 90% year-over-year. Backlog was up over 100% year-over-year, including an all-time high Intelligrated backlog of over $2 billion. Segment margin expanded 150 basis points to 13.8% driven by productivity, net of inflation, and commercial excellence. Conference Call Details Honeywell will discuss its second-quarter results and third-quarter outlook during an investor conference call starting at 8:30 a.m. Eastern Daylight Time today. To participate on the conference call, please dial (866) 548-4713 (domestic) or (323) 794-2093 (international) approximately ten minutes before the 8:30 a.m. EDT start.Please mention to the operator that you are dialing in for Honeywell's second-quarter 2020 earnings call or provide the conference code HON2Q20. The live webcast of the investor call as well as related presentation materials will be available through the Investor Relations section of the company's website (www.honeywell.com/investor). Investors can hear a replay of the conference call from 12:30 p.m. EDT, July 24, until 12:30 p.m. EDT, July 31, by dialing (888) 203-1112 (domestic) or (719) 457-0820 (international). The access code is 7938730. TABLE 1: SUMMARY OF HONEYWELL FINANCIAL RESULTS 2Q 2020 2Q 2019 Change Sales 7,477 9,243 (19%) Organic Growth (18%) Segment Margin 18.5% 21.3% -280 bps Operating Income Margin 13.6% 19.1% -550 bps Earnings Per Share $1.53 $2.10 (27%) Adjusted Earnings Per Share2 $1.26 $2.10 (40%) Cash Flow from Operations 1,480 1,678 (12%) Operating Cash Flow Conversion 137% 109% 28% Free Cash Flow 1,253 1,507 (17%) Adjusted Free Cash Flow3 1,253 1,535 (18%) Adjusted Free Cash Flow Conversion1 140% 100% 40% TABLE 2: SUMMARY OF SEGMENT FINANCIAL RESULTS AEROSPACE 2Q 2020 2Q 2019 Change Sales 2,543 3,508 (28%) Organic Growth (27%) Segment Profit 528 907 (42%) Segment Margin 20.8% 25.9% -510 bps HONEYWELL BUILDING TECHNOLOGIES Sales 1,177 1,450 (19%) Organic Growth (17%) Segment Profit 250 300 (17%) Segment Margin 21.2% 20.7% 50 bps PERFORMANCE MATERIALS AND TECHNOLOGIES Sales 2,218 2,735 (19%) Organic Growth (17%) Segment Profit 419 644 (35%) Segment Margin 18.9% 23.5% -460 bps SAFETY AND PRODUCTIVITY SOLUTIONS Sales 1,539 1,550 (1%) Organic Growth 1% Segment Profit 213 191 12% Segment Margin 13.8% 12.3% 150 bps 1Adjusted free cash flow conversion excludes impacts from separation costs related to the spin-offs of $28M in 2Q19 and 2Q20 favorable resolution of a foreign tax matter related to the spin-off transactions 2Adjusted EPS and adjusted EPS V% exclude 2Q20 favorable resolution of a foreign tax matter related to the spin-off transactions 3Adjusted free cash flow excludes impacts from separation costs related to the spin-offs of $28M in 2Q19 Honeywell (www.honeywell.com) is a Fortune 100 technology company that delivers industry specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help everything from aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom. This release contains certain statements that may be deemed \"forward-looking statements\" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, technological, and COVID-19 public health factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, and other developments, including the potential impact of the COVID-19 pandemic, and business decisions may differ from those envisaged by such forward-looking statements. Any forward-looking plans described herein are not final and may be modified or abandoned at any time. No final decision will be taken with respect to such plans or proposals without prior satisfaction of any applicable requirements with respect to informing, consulting or negotiating with employees or their representatives. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission. This release contains financial measures presented on a non-GAAP basis. Honeywell's non-GAAP financial measures used in this release are as follows: segment profit, on an overall Honeywell basis, a measure by which we assess operating performance, which we define as operating income adjusted for certain items as presented in the Appendix; segment margin, on an overall Honeywell basis, which we define as segment profit divided by sales; organic sales growth, which we define as sales growth less the impacts from foreign currency translation, and acquisitions and divestitures for the first 12 months following transaction date; free cash flow, which we define as cash flow from operations less capital expenditures; adjusted free cash flow, which we define as cash flow from operations less capital expenditures and which we adjust to exclude the impact of separation costs related to the spin-offs of Resideo and Garrett, if and as noted in the release; adjusted free cash flow conversion, which we define as adjusted free cash flow divided by net income attributable to Honeywell, excluding separation costs related to the spin-offs and the impact of the favorable resolution of a foreign tax matter related to the spin-off transactions, if and as noted in the release; and adjusted earnings per share, which we adjust to exclude the favorable resolution of a foreign tax matter related to the spin-off transactions. Management believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. These metrics should be considered in addition to, and not as replacements for, the most comparable GAAP measure. Refer to the Appendix attached to this release for reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures. Honeywell International Inc. Consolidated Statement of Operations (Unaudited) (Dollars in millions, except per share amounts) Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Product sales $ 5,743 $ 6,990 $ 12,048 $ 13,703 Service sales 1,734 2,253 3,892 4,424 Net sales 7,477 9,243 15,940 18,127 Costs, expenses and other Cost of products sold (1) 4,163 4,848 8,537 9,470 Cost of services sold (1) 1,113 1,246 2,273 2,503 5,276 6,094 10,810 11,973 Selling, general and administrative expenses (1) 1,183 1,387 2,421 2,750 Other (income) expense (291) (305) (608) (590) Interest and other financial charges 90 85 163 170 6,258 7,261 12,786 14,303 Income before taxes 1,219 1,982 3,154 3,824 Tax expense (benefit) 120 426 449 832 Net income 1,099 1,556 2,705 2,992 Less: Net income attributable to the noncontrolling interest 18 15 43 35 Net income attributable to Honeywell $ 1,081 $ 1,541 $ 2,662 $ 2,957 Earnings per share of common stock - basic $ 1.54 $ 2.13 $ 3.77 $ 4.07 Earnings per share of common stock - assuming dilution $ 1.53 $ 2.10 $ 3.74 $ 4.02 Weighted average number of shares outstanding - basic 702.3 723.2 705.9 726.4 Weighted average number of shares outstanding - assuming dilution 708.1 733.0 712.6 735.9 (1) Cost of products and services sold and selling, general and administrative expenses include amounts for repositioning and other charges, the service cost component of pension and other postretirement (income) expense, and stock compensation expense. Honeywell International Inc. Segment Data (Unaudited) (Dollars in millions) Three Months Ended June 30, Six Months Ended June 30, Net Sales 2020 2019 2020 2019 Aerospace $ 2,543 $ 3,508 $ 5,904 $ 6,849 Honeywell Building Technologies 1,177 1,450 2,458 2,839 Performance Materials and Technologies 2,218 2,735 4,615 5,307 Safety and Productivity Solutions 1,539 1,550 2,963 3,132 Total $ 7,477 $ 9,243 $ 15,940 $ 18,127 Reconciliation of Segment Profit to Income Before Taxes Three Months Ended June 30, Six Months Ended June 30, Segment Profit 2020 2019 2020 2019 Aerospace $ 528 $ 907 $ 1,465 $ 1,745 Honeywell Building Technologies 250 300 512 571 Performance Materials and Technologies 419 644 931 1,208 Safety and Productivity Solutions 213 191 391 403 Corporate (25) (72) (66) (148) Total segment profit 1,385 1,970 3,233 3,779 Interest and other financial charges (90) (85) (163) (170) Stock compensation expense (1) (34) (34) (78) (75) Pension ongoing income (2) 198 148 396 299 Other postretirement income (2) 14 11 27 23 Repositioning and other charges (3,4) (280) (126) (342) (210) Other (5) 26 98 81 178 Income before taxes $ 1,219 $ 1,982 $ 3,154 $ 3,824 (1) Amounts included in Selling, general and administrative expenses. (2) Amounts included in Cost of products and services sold and Selling, general and administrative expenses (service costs) and Other income/expense (non-service cost components). (3) Amounts included in Cost of products and services sold, Selling, general and administrative expenses, and Other income/expense. (4) Includes repositioning, asbestos, and environmental expenses. (5) Amounts include the other components of Other income/expense not included within other categories in this reconciliation. Equity income (loss) of affiliated companies is included in segment profit. Honeywell International Inc. Consolidated Balance Sheet (Unaudited) (Dollars in millions) June 30, 2020 December 31,2019 ASSETS Current assets: Cash and cash equivalents $ 13,778 $ 9,067 Short-term investments 1,349 1,349 Accounts receivable - net 6,717 7,493 Inventories 4,753 4,421 Other current assets 1,724 1,973 Total current assets 28,321 24,303 Investments and long-term receivables 626 588 Property, plant and equipment - net 5,327 5,325 Goodwill 15,518 15,563 Other intangible assets - net 3,551 3,734 Insurance recoveries for asbestos related liabilities 379 392 Deferred income taxes 106 86 Other assets 9,776 8,688 Total assets $ 63,604 $ 58,679 LIABILITIES Current liabilities: Accounts payable $ 5,366 $ 5,730 Commercial paper and other short-term borrowings 3,531 3,516 Current maturities of long-term debt 967 1,376 Accrued liabilities 7,477 7,476 Total current liabilities 17,341 18,098 Long-term debt 17,591 11,110 Deferred income taxes 1,461 1,670 Postretirement benefit obligations other than pensions 317 326 Asbestos related liabilities 1,894 1,996 Other liabilities 6,627 6,766 Redeemable noncontrolling interest 7 7 Shareowners' equity 18,366 18,706 Total liabilities, redeemable noncontrolling interest and shareowners' equity $ 63,604 $ 58,679 Honeywell International Inc. Consolidated Statement of Cash Flows (Unaudited) (Dollars in millions) Three Months EndedJune 30, Six Months EndedJune 30, 2020 2019 2020 2019 Cash flows from operating activities: Net income $ 1,099 $ 1,556 $ 2,705 $ 2,992 Less: Net income attributable to the noncontrolling interest 18 15 43 35 Net income attributable to Honeywell 1,081 1,541 2,662 2,957 Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities: Depreciation 161 172 314 335 Amortization 89 123 179 221 Repositioning and other charges 280 126 342 210 Net payments for repositioning and other charges (198) (51) (309) (85) Pension and other postretirement income (211) (159) (423) (322) Pension and other postretirement benefit payments (9) (15) (23) (45) Stock compensation expense 34 34 78 75 Deferred income taxes (219) (36) (277) 44 Other (106) 9 (285) 5 Changes in assets and liabilities, net of the effects of acquisitions and divestitures: Accounts receivable 735 (100) 776 98 Inventories (168) (52) (331) (273) Other current assets (60) (22) 106 (239) Accounts payable (310) 21 (364) (8) Accrued liabilities 381 87 (26) (161) Net cash provided by (used for) operating activities 1,480 1,678 2,419 2,812 Cash flows from investing activities: Expenditures for property, plant and equipment (227) (171) (366) (312) Proceeds from disposals of property, plant and equipment 8 7 10 Increase in investments (1,023) (1,048) (1,671) (2,274) Decrease in investments 746 1,367 1,589 2,163 Receipts (payments) from settlements of derivative contracts (204) 110 83 70 Net cash provided by (used for) investing activities (708) 266 (358) (343) Cash flows from financing activities: Proceeds from issuance of commercial paper and other short-term borrowings 3,710 3,796 7,165 7,114 Payments of commercial paper and other short-term borrowings (3,721) (3,796) (7,094) (7,115) Proceeds from issuance of common stock 31 233 97 378 Proceeds from issuance of long-term debt 5,974 9 7,101 29 Payments of long-term debt (93) (71) (1,218) (84) Repurchases of common stock (62) (1,900) (1,985) (2,650) Cash dividends paid (650) (597) (1,285) (1,203) Other (2) (2) (40) (32) Net cash provided by (used for) financing activities 5,187 (2,328) 2,741 (3,563) Effect of foreign exchange rate changes on cash and cash equivalents 98 (16) (91) 32 Net increase (decrease) in cash and cash equivalents 6,057 (400) 4,711 (1,062) Cash and cash equivalents at beginning of period 7,721 8,625 9,067 9,287 Cash and cash equivalents at end of period $ 13,778 $ 8,225 $ 13,778 $ 8,225 Honeywell International Inc. Reconciliation of Organic Sales % Change (Unaudited) Three Months EndedJune 30, 2020 Honeywell Reported sales % change (19)% Less: Foreign currency translation (1)% Less: Acquisitions, divestitures and other, net % Organic sales % change (18)% Aerospace Reported sales % change (28)% Less: Foreign currency translation % Less: Acquisitions, divestitures and other, net (1)% Organic sales % change (27)% Honeywell Building Technologies Reported sales % change (19)% Less: Foreign currency translation (2)% Less: Acquisitions, divestitures and other, net % Organic sales % change (17)% Performance Materials and Technologies Reported sales % change (19)% Less: Foreign currency translation (2)% Less: Acquisitions, divestitures and other, net % Organic sales % change (17)% Safety and Productivity Solutions Reported sales % change (1)% Less: Foreign currency translation (2)% Less: Acquisitions, divestitures and other, net % Organic sales % change 1% We define organic sales percent as the year-over-year change in reported sales relative to the comparable period, excluding the impact on sales from foreign currency translation and acquisitions, net of divestitures. We believe this measure is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. Honeywell International Inc. Reconciliation of Segment Profit to Operating Income and Calculation of Segment Profit and Operating Income Margins (Unaudited) (Dollars in millions) Three Months Ended June 30, 2020 2019 Segment profit $ 1,385 $ 1,970 Stock compensation expense (1) (34) (34) Repositioning, Other (2,3) (295) (137) Pension and other postretirement service costs (4) (38) (37) Operating income $ 1,018 $ 1,762 Segment profit $ 1,385 $ 1,970 Net sales $ 7,477 $ 9,243 Segment profit margin % 18.5 % 21.3 % Operating income $ 1,018 $ 1,762 Net sales $ 7,477 $ 9,243 Operating income margin % 13.6 % 19.1 % (1) Included in Selling, general and administrative expenses. (2) Includes repositioning, asbestos, environmental expenses and equity income adjustment. (3) Included in Cost of products and services sold, Selling, general and administrative expenses and Other income/expense. (4) Included in Cost of products and services sold and Selling, general and administrative expenses. We define segment profit as operating income, excluding stock compensation expense, pension and other postretirement service costs, and repositioning and other charges. We believe these measures are useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. Honeywell International Inc. Reconciliation of Earnings per Share to Adjusted Earnings per Share (Unaudited) Three Months Ended June 30, June 30, 2020 June 30, 2019 Earnings per share of common stock - assuming dilution (1) $ 1.53 $ 2.10 Separation-related tax adjustment (2) (0.27) Adjusted earnings per share of common stock - assuming dilution $ 1.26 $ 2.10 (1) For the three months ended June 30, 2020 and 2019, adjusted earnings per share utilizes weighted average shares of approximately 708.1 million and 733.0 million. (2) For the three months ended June 30, 2020, separation-related tax adjustment of $186 million ($186 million net of tax) includes the favorable resolution of a foreign tax matter related to the spin-off transactions. We believe adjusted earnings per share, excluding spin-off impact, is a measure that is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. For forward looking information, management cannot reliably predict or estimate, without unreasonable effort, the pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. We therefore do not include an estimate for the pension mark-to-market expense. Based on economic and industry conditions, future developments and other relevant factors, these assumptions are subject to change. Honeywell International Inc. Reconciliation of Cash Provided by Operating Activities to Adjusted Free Cash Flow and Calculation of Adjusted Free Cash Flow Conversion (Unaudited) (Dollars in millions) Three MonthsEnded June 30, 2020 Three MonthsEnded June 30, 2019 Cash provided by operating activities $ 1,480 $ 1,678 Expenditures for property, plant and equipment (227) (171) Free cash flow 1,253 1,507 Separation cost payments 28 Adjusted free cash flow $ 1,253 $ 1,535 Net income attributable to Honeywell 1,081 1,541 Separation-related tax adjustment (186) Adjusted net income attributable to Honeywell $ 895 $ 1,541 Cash provided by operating activities $ 1,480 $ 1,678 Net income (loss) attributable to Honeywell $ 1,081 $ 1,541 Operating cash flow conversion 137 % 109 % Adjusted free cash flow $ 1,253 $ 1,535 Adjusted net income attributable to Honeywell $ 895 $ 1,541 Adjusted free cash flow conversion % 140 % 100 % We define free cash flow as cash provided by operating activities less cash expenditures for property, plant and equipment. We believe that this metric is useful to investors and management as a measure of cash generated by business operations that will be used to repay scheduled debt maturities and can be used to invest in future growth through new business development activities or acquisitions, pay dividends, repurchase stock or repay debt obligations prior to their maturities. This metric can also be used to evaluate our ability to generate cash flow from business operations and the impact that this cash flow has on our liquidity. Contacts: Media Investor Relations Nina Krauss Mark Bendza (704) 627-6035 (704) 627-6200 [emailprotected] [emailprotected] SOURCE Honeywell Related Links http://www.honeywell.com"
Chinese News:
7月24日，霍尼韦尔发布财报称，第二季度公司营收74.8亿美元，同比下降19%；净利润10.8亿美元，去年同期为15.4亿美元。
Japanese News:
米国株式市場は続落して取引を終了した。週末を前に、新型コロナウイルス感染者数の急激な増加、企業決算が軟調だったこと、および地政学的な不透明感が広がったことで、幅広い銘柄に売りが出た。 特に主要指数の重しとなったのはハイテク銘柄で、半導体大手のインテルが、次世代半導体技術（回路線幅7ナノメートル）の開発遅延を発表したことで16.2％の急落を記録した。 LPLファイナンシャルのシニア市場ストラテジストであるライアン・デトリック氏は、「週末を控え市場に不安が広がっている」と述べ、ここ2カ月間のナスダック指数やハイテク株の急激な上昇を考えれば調整局面に入ってもおかしくないと指摘した。 週単位では主要3指数がいずれも下落し、S&P500指数とダウ平均株価は4週ぶりにマイナスに転じたほか、ナスダック総合指数も過去4週間で最大の下げ幅を記録した。 S&P500指数は直近、2月に付けた過去最高値から約5％下回る水準まで戻していたが、年初来で見るとほぼ横ばいで推移している。対照的にナスダック総合指数は、年初来で約15％上昇している。 デトリック氏は、来週には米連邦公開市場委員会（FOMC）の開催や企業決算発表、さらに米国GDP速報値の発表が予定されており、市場に不安感が広がるのも自然な流れだと述べた。 来週30日にはアップル、アルファベット、アマゾンが決算発表を控えるほか、第2四半期のGDP速報値が米商務省より発表される予定だ。アナリストの予測では、第2四半期GDPは35％減少すると見込まれている。 米国内の新型コロナ感染者数は累計で400万人を超え、23日には死者数が3日連続で1000人以上増加した。 また、中国政府が四川省成都市にある米国総領事館の閉鎖を通知したことも市場心理の重しとなった。これは米政府がテキサス州ヒューストンの中国総領事館の閉鎖を命じたことへの報復措置とみられる。 業種別ではS&P500の11セクターのうち、一般消費財を除くすべてが下落。特に情報技術セクターの下落率が最も大きかった。 ヘルスケアセクターは、トランプ政権が薬価引き下げに関する大統領令を準備していることを背景に1.1％の下落を記録した。 決算関連ではS&P500企業のうち128社が第2四半期決算を発表し、約80.5％がアナリストの慎重な事前予想を上回った。 個別銘柄では、クレジットカード大手アメリカン・エキスプレスが世界的なロックダウンによるカード利用低迷で利益が85％減となり、株価は1.4％下落した。一方、通信大手ベライゾンは在宅勤務需要に伴う通信サービスの利用増加で市場予想を上回る業績を発表し、株価が1.8％上昇した。 複合企業ハネウェルは利益が市場予想を上回ったが、先行き不透明感を背景に2.8％下落。インテルの競合企業であるアドバンスト・マイクロ・デバイセズ（AMD）は16.5％高となった。電気自動車メーカーのテスラは6.3％の下落を続けた。 ニューヨーク証券取引所では値下がり銘柄が値上がり銘柄を約1.92倍上回り、ナスダックでも約2.77倍の比率で値下がり銘柄が多かった。米国市場の総合取引高は95億7000万株で、直近20営業日の平均110億4000万株を下回った。
Spanish News:
El grupo industrial estadounidense Honeywell obtuvo un beneficio neto atribuido de 1.081 millones de dólares (933 millones de euros) en el segundo trimestre de 2020, lo que representa una caída del 29,8% en comparación con el resultado contabilizado por la multinacional en el mismo periodo de 2019, informó la compañía. Las ventas de Honeywell entre abril y junio alcanzaron los 7.477 millones de dólares (6.452 millones de euros), un 19,1% menos que un año antes, incluyendo una bajada del 27,5% de los ingresos del negocio aeroespacial, hasta 2.543 millones de dólares (2.194 millones de euros) y del 19% en la división de construcción, hasta 1.177 millones de dólares (1.015 millones de euros). Por su parte, la facturación del negocio de materiales y tecnologías de Honeywell recortó un 19% sus ingresos en el segundo trimestre, hasta 2.218 millones de dólares (1.914 millones de euros), mientras que la unidad de seguridad y productividad facturó un 1% menos, hasta 1.539 millones de dólares (1.328 millones de euros). "El segundo trimestre fue difícil, pero ejecutamos las tres cosas que nos permitirán hacer frente a esta recesión: administrar agresivamente los costes, impulsar el crecimiento de las ventas donde la demanda es fuerte e invertir en nuevas tecnologías", subrayó Darius Adamczyk, presidente y consejero delegado de la empresa. En el primer semestre, Honeywell obtuvo un beneficio neto atribuido de 2.662 millones de dólares (2.297 millones de euros), un 10% por debajo de su resultado de la primera mitad de 2019. De su lado, las ventas de la compañía de Carolina del Norte cayeron un 12%, hasta 15.940 millones de dólares (13.756 millones de euros). Por otro lado, la firma indicó que tras alcanzar un ahorro de costes de 500 millones de dólares (431 millones de euros) en el trimestre, espera ampliar este ajuste en la segunda mitad del año, para alcanzar una cifra agregada de ahorro de entre 1.400 y 1.600 millones de dólares (1.208 y 1.381 millones de euros).
Greek News:
Η εταιρία Honeywell πρόσφατα υπέγραψε σύμβαση με την ουκρανική ενεργειακή εταιρεία DTEK για την αποκατάσταση του πρώτου συστήματος αποθήκευσης ενέργειας με μπαταρίες σε κλίμακα δικτύου στην Ουκρανία. Αυτό το πιλοτικό έργο, περιλαμβάνει μια μπαταρία ιόντων λιθίου η οποία θα τοποθετηθεί στον θερμοηλεκτρικό σταθμό Ζαπορίζια και θα είναι ισχύος 1MW και χωρητικότητας 1,5 MWh. Σκοπός αυτού του συστήματος η υποστήριξη της σταθερότητας του δικτύου με τη παροχή υπηρεσιών συγκράτησης συχνότητας αλλά και ενεργειακό arbitrage, φορτίζοντας σε περιόδους χαμηλής ζήτησης και εκφορτίζοντας κατά τις ώρες αιχμής. Η εταιρία έχει ως στρατηγική την ενίσχυση της παρουσίας της σε λύσεις ενεργειακής μετάβασης, παρά τη συνολική επιβράδυνση στον τομέα Υλικώ Απόδοσης και Τεχνολογιών (PMT) της εταιρίας. Σε αυτή τη στρατηγική εντάσσεται και το παραπάνω έργο. Ο τομέας αυτός, κατέγραψε μείωση εσόδων συγκεκριμένα $2,218 εκατ. το δεύτερο τρίμηνο του 2020, συγκριτικά με $2,735 εκατ. την αντίστοιχη περίοδο του 2019, λόγω κυρίως της μείωσης της παγκόσμιας ζήτησης ενέργειας κατά την πανδημία. Παρότι οι τεχνολογίες της Honeywell υποστηρίζουν κρίσιμες λειτουργίες σε βιομηχανίες πετρελαίου, φυσικού αερίου και ανανεώσιμων καυσίμων, η πτώση των εσόδων αντανακλά τις ευρύτερες πιέσεις στις κεφαλαιουχικές δαπάνες και τις επενδύσεις στον ενεργειακό τομέα. Το πιλοτικό έργο στην Ουκρανία ενδέχεται να λειτουργήσει ως σταθμός για την ενίσχυση των πράσινων τεχνολογιών της εταιρείας σε αναδυόμενες αγορές.
Question:
How is the company allocating capital (e.g., investments, share repurchases, dividends) based on its performance and market outlook from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | How is the company allocating capital (e.g., investments, share repurchases, dividends) based on its performance and market outlook from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: Honeywell focused its capital allocation on enhancing financial flexibility and investing in growth areas. It issued $3 billion in bonds, reduced a term loan from $6 billion to $3 billion, and committed approximately $250 million in additional growth investments. These investments targeted areas like personal protective equipment (PPE), warehouse automation (Intelligrated), and other high-demand technologies. Share repurchase activity significantly slowed, and the company emphasized liquidity preservation amid uncertainty.
Financial Statement Evidence: In the first half of FY2020, Honeywell repurchased $2.0B in stock, paid $1.2B in dividends, and spent $366M on capital expenditures. |
HON_20200724 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:------------------------------------------------------------------------------|:----------------------|:-----------|:------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | June 30, 2020 | | December 31, 2019 | | | | | | | | |
| | (Dollars in millions) | | | | | | | | | | |
| ASSETS | | | | | | | | | | | |
| Current assets: | | | | | | | | | | | |
| Cash and cash equivalents | $ | 13,778 | | | $ | 9,067 | | | | | |
| Short-term investments | 1,349 | | | 1,349 | | | | | | | |
| Accounts receivable - net | 6,717 | | | 7,493 | | | | | | | |
| Inventories | 4,753 | | | 4,421 | | | | | | | |
| Other current assets | 1,724 | | | 1,973 | | | | | | | |
| Total current assets | 28,321 | | | 24,303 | | | | | | | |
| Investments and long-term receivables | 626 | | | 588 | | | | | | | |
| Property, plant and equipment - net | 5,327 | | | 5,325 | | | | | | | |
| Goodwill | 15,518 | | | 15,563 | | | | | | | |
| Other intangible assets - net | 3,551 | | | 3,734 | | | | | | | |
| Insurance recoveries for asbestos related liabilities | 379 | | | 392 | | | | | | | |
| Deferred income taxes | 106 | | | 86 | | | | | | | |
| Other assets | 9,776 | | | 8,688 | | | | | | | |
| Total assets | $ | 63,604 | | | $ | 58,679 | | | | | |
| LIABILITIES | | | | | | | | | | | |
| Current liabilities: | | | | | | | | | | | |
| Accounts payable | $ | 5,366 | | | $ | 5,730 | | | | | |
| Commercial paper and other short-term borrowings | 3,531 | | | 3,516 | | | | | | | |
| Current maturities of long-term debt | 967 | | | 1,376 | | | | | | | |
| Accrued liabilities | 7,477 | | | 7,476 | | | | | | | |
| Total current liabilities | 17,341 | | | 18,098 | | | | | | | |
| Long-term debt | 17,591 | | | 11,110 | | | | | | | |
| Deferred income taxes | 1,461 | | | 1,670 | | | | | | | |
| Postretirement benefit obligations other than pensions | 317 | | | 326 | | | | | | | |
| Asbestos related liabilities | 1,894 | | | 1,996 | | | | | | | |
| Other liabilities | 6,627 | | | 6,766 | | | | | | | |
| Redeemable noncontrolling interest | 7 | | | 7 | | | | | | | |
| SHAREOWNERS’ EQUITY | | | | | | | | | | | |
| Capital - common stock issued | 958 | | | 958 | | | | | | | |
| - additional paid-in capital | 7,104 | | | 6,876 | | | | | | | |
| Common stock held in treasury, at cost | (25,685) | | | (23,836) | | | | | | | |
| Accumulated other comprehensive loss | (3,310) | | | (3,197) | | | | | | | |
| Retained earnings | 39,080 | | | 37,693 | | | | | | | |
| Total Honeywell shareowners’ equity | 18,147 | | | 18,494 | | | | | | | |
| Noncontrolling interest | 219 | | | 212 | | | | | | | |
| Total shareowners’ equity | 18,366 | | | 18,706 | | | | | | | |
| Total liabilities, redeemable noncontrolling interest and shareowners’ equity | $ | 63,604 | | | $ | 58,679 | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:------------------------------------------------------------------------------------------------------------|:--------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | Six Months Ended June 30, | | | | | | | | | | |
| | 2020 | | 2019 | | | | | | | | |
| | (Dollars in millions) | | | | | | | | | | |
| Cash flows from operating activities: | | | | | | | | | | | |
| Net income | $ | 2,705 | | | $ | 2,992 | | | | | |
| Less: Net income attributable to the noncontrolling interest | 43 | | | 35 | | | | | | | |
| Net income attributable to Honeywell | 2,662 | | | 2,957 | | | | | | | |
| Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities: | | | | | | | | | | | |
| Depreciation | 314 | | | 335 | | | | | | | |
| Amortization | 179 | | | 221 | | | | | | | |
| | | | | | | | | | | | |
| Repositioning and other charges | 342 | | | 210 | | | | | | | |
| Net payments for repositioning and other charges | (309) | | | (85) | | | | | | | |
| Pension and other postretirement income | (423) | | | (322) | | | | | | | |
| Pension and other postretirement benefit payments | (23) | | | (45) | | | | | | | |
| Stock compensation expense | 78 | | | 75 | | | | | | | |
| Deferred income taxes | (277) | | | 44 | | | | | | | |
| Other | (285) | | | 5 | | | | | | | |
| Changes in assets and liabilities, net of the effects of acquisitions and divestitures: | | | | | | | | | | | |
| Accounts receivable | 776 | | | 98 | | | | | | | |
| Inventories | (331) | | | (273) | | | | | | | |
| Other current assets | 106 | | | (239) | | | | | | | |
| Accounts payable | (364) | | | (8) | | | | | | | |
| Accrued liabilities | (26) | | | (161) | | | | | | | |
| Net cash provided by (used for) operating activities | 2,419 | | | 2,812 | | | | | | | |
| Cash flows from investing activities: | | | | | | | | | | | |
| Expenditures for property, plant and equipment | (366) | | | (312) | | | | | | | |
| Proceeds from disposals of property, plant and equipment | 7 | | | 10 | | | | | | | |
| Increase in investments | (1,671) | | | (2,274) | | | | | | | |
| Decrease in investments | 1,589 | | | 2,163 | | | | | | | |
| | | | | | | | | | | | |
| Receipts (payments) from settlements of derivative contracts | 83 | | | 70 | | | | | | | |
| Net cash provided by (used for) investing activities | (358) | | | (343) | | | | | | | |
| Cash flows from financing activities: | | | | | | | | | | | |
| Proceeds from issuance of commercial paper and other short-term borrowings | 7,165 | | | 7,114 | | | | | | | |
| Payments of commercial paper and other short-term borrowings | (7,094) | | | (7,115) | | | | | | | |
| Proceeds from issuance of common stock | 97 | | | 378 | | | | | | | |
| Proceeds from issuance of long-term debt | 7,101 | | | 29 | | | | | | | |
| Payments of long-term debt | (1,218) | | | (84) | | | | | | | |
| Repurchases of common stock | (1,985) | | | (2,650) | | | | | | | |
| Cash dividends paid | (1,285) | | | (1,203) | | | | | | | |
| Other | (40) | | | (32) | | | | | | | |
| Net cash provided by (used for) financing activities | 2,741 | | | (3,563) | | | | | | | |
| Effect of foreign exchange rate changes on cash and cash equivalents | (91) | | | 32 | | | | | | | |
| Net increase (decrease) in cash and cash equivalents | 4,711 | | | (1,062) | | | | | | | |
| Cash and cash equivalents at beginning of period | 9,067 | | | 9,287 | | | | | | | |
| Cash and cash equivalents at end of period | $ | 13,778 | | | $ | 8,225 | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 | Column 22 | Column 23 | Column 24 |
|:-------------------------------------------------------------|:------------------------------------------------|:-----------|:-----------|:-----------|:--------------------------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | | | | |
| | Three Months Ended June 30, | | | | Six Months Ended June 30, | | | | | | | | | | | | | | | | | | |
| | 2020 | | 2019 | | 2020 | | 2019 | | | | | | | | | | | | | | | | |
| | (Dollars in millions, except per share amounts) | | | | | | | | | | | | | | | | | | | | | | |
| Product sales | $ | 5,743 | | | $ | 6,990 | | | $ | 12,048 | | | $ | 13,703 | | | | | | | | | |
| Service sales | 1,734 | | | 2,253 | | | 3,892 | | | 4,424 | | | | | | | | | | | | | |
| Net sales | 7,477 | | | 9,243 | | | 15,940 | | | 18,127 | | | | | | | | | | | | | |
| Costs, expenses and other | | | | | | | | | | | | | | | | | | | | | | | |
| Cost of products sold | 4,163 | | | 4,848 | | | 8,537 | | | 9,470 | | | | | | | | | | | | | |
| Cost of services sold | 1,113 | | | 1,246 | | | 2,273 | | | 2,503 | | | | | | | | | | | | | |
| | 5,276 | | | 6,094 | | | 10,810 | | | 11,973 | | | | | | | | | | | | | |
| Selling, general and administrative expenses | 1,183 | | | 1,387 | | | 2,421 | | | 2,750 | | | | | | | | | | | | | |
| Other (income) expense | (291) | | | (305) | | | (608) | | | (590) | | | | | | | | | | | | | |
| Interest and other financial charges | 90 | | | 85 | | | 163 | | | 170 | | | | | | | | | | | | | |
| | 6,258 | | | 7,261 | | | 12,786 | | | 14,303 | | | | | | | | | | | | | |
| Income before taxes | 1,219 | | | 1,982 | | | 3,154 | | | 3,824 | | | | | | | | | | | | | |
| Tax expense (benefit) | 120 | | | 426 | | | 449 | | | 832 | | | | | | | | | | | | | |
| Net income | 1,099 | | | 1,556 | | | 2,705 | | | 2,992 | | | | | | | | | | | | | |
| Less: Net income attributable to the noncontrolling interest | 18 | | | 15 | | | 43 | | | 35 | | | | | | | | | | | | | |
| Net income attributable to Honeywell | $ | 1,081 | | | $ | 1,541 | | | $ | 2,662 | | | $ | 2,957 | | | | | | | | | |
| Earnings per share of common stock - basic | $ | 1.54 | | | $ | 2.13 | | | $ | 3.77 | | | $ | 4.07 | | | | | | | | | |
| Earnings per share of common stock - assuming dilution | $ | 1.53 | | | $ | 2.10 | | | $ | 3.74 | | | $ | 4.02 | | | | | | | | | |
---
English News:
"Honeywell Reports EPS Of $1.53, Adjusted EPS Of $1.26; Delivers $1.5 Billion Of Operating Cash Flow - CHARLOTTE, N.C., July 24, 2020 /PRNewswire/ --Honeywell (NYSE: HON) today announced results for the second quarter of 2020, which were significantly impacted by the COVID-19 pandemic and oil price volatility. The company reported a second-quarter sales decline of 19%, down 18% organic, operating margin contraction of 550 basis points, and segment margin contraction of 280 basis points, with adjusted earnings per share2 of $1.26. \"The second quarter was a challenging one, but we executed on the three things that will enable us to weather this downturn: aggressively managing cost, driving sales growth where demand is strong, and investing in exciting new technologies that, through careful attention to customer and end-user needs, will help keep people safe when they get back to the workplace, back to play, back to travel, and back to life,\" said Darius Adamczyk, chairman and chief executive officer of Honeywell. \"In terms of cost management, we delivered $500 million in savings from the first phase of cost actions we announced earlier this year, and we funded over $250 million of repositioning in the quarter. In addition, we developed a second phase of cost actions that, when combined with our previously announced plan, will generate $1.4 billion to $1.6 billion of cost savings during 2020. We further enhanced our financial flexibility this quarter by issuing $3 billion of bonds at attractive rates, reducing our term loan from $6 billion to $3 billion, and fully drawing the remaining balance. We ended the quarter with $15.1 billion of cash and short-term investments on hand and an overfunded pension plan,\" Adamczyk said. \"We also remain focused on driving sales growth in areas that have not been as impacted by the current downturn. In the second quarter, our businesses serving the defense, warehouse automation, and personal protective equipment industries exhibited outstanding performance. Orders for Intelligrated were $1.2 billion in the quarter, up triple-digits year-over-year, positioning the business for continued growth. We committed approximately $250 million of incremental growth capital expenditures compared to our previous allocated budget for new projects to accelerate our investments in personal protective equipment, Intelligrated, and other growth areas,\" Adamczyk continued. \"With an exceptional, diverse portfolio of technologies that improve safety and help our customers to be more efficient, Honeywell is uniquely equipped to support our customers in the post-COVID world. We are actively investing in and introducing new solutions, such as an efficient and effective ultraviolet light cleaner for aircraft, temperature and PPE compliance monitoring solutions, technologies that can help building owners comply with new hygiene and social distancing policies, and a new pharmaceutical packaging system for bottles and vials that preserves shelf-life and drug efficacy. \"Our focus on sales, cost, and optimizing working capital, combined with our diverse portfolio and strong balance sheet, will enable Honeywell to adapt to and execute through the downturn. I am confident we will emerge well-positioned for the economic recovery to come,\" concluded Adamczyk. Due to the evolving nature of the COVID-19 pandemic and related supply chain and market disruptions, Honeywell previously announced that it has suspended providing full financial guidance until the economic impact of COVID-19 stabilizes. The company expects ongoing top-line challenges due to the current market conditions, particularly in the aerospace and oil and gas sectors. Second-Quarter Performance Honeywell sales for the second quarter were down 19% on a reported basis and down 18% on an organic basis. The difference between reported and organic sales primarily relates to the impact of foreign currency translation. The second-quarter financial results can be found in Tables 1 and 2. Aerospace sales for the second quarter were down 27% on an organic basis driven by lower commercial aftermarket demand due to steep declines in flight hours, reduced volumes in commercial original equipment, and the 737 MAX impact in air transport original equipment, partially offset by continued strength in the Defense and Space business. Segment margin contracted 510 basis points to 20.8% driven by lower volumes and sales mix. Honeywell Building Technologies sales for the second quarter were down 17% on an organic basis driven by lower demand for security, building management, and fire products, and delays in Building Solutions projects in key verticals. Segment margin expanded 50 basis points to 21.2%. Margin performance was driven by commercial excellence and productivity actions. Performance Materials and Technologies sales for the second quarter were down 17% on an organic basis driven by volume declines in products, including thermal solutions and smart energy, in Process Solutions; lower gas processing projects, catalyst shipments, and licensing due to softness in the oil and gas sector in UOP; and lower automotive refrigerant volumes in Advanced Materials, partially offset by strength in specialty products. Segment margin contracted 460 basis points to 18.9% driven by the impact of lower sales volumes, partially offset by productivity actions. Safety and Productivity Solutions sales for the second quarter were up 1% on an organic basis driven by double-digit Intelligrated growth and demand for respiratory personal protective equipment, partially offset by lower short-cycle sales volumes in sensing and IoT, productivity products, and gas sensing. Record high bookings of $0.7 billion in PPE and $1.2 billion in Intelligrated drove orders growth up approximately 90% year-over-year. Backlog was up over 100% year-over-year, including an all-time high Intelligrated backlog of over $2 billion. Segment margin expanded 150 basis points to 13.8% driven by productivity, net of inflation, and commercial excellence. Conference Call Details Honeywell will discuss its second-quarter results and third-quarter outlook during an investor conference call starting at 8:30 a.m. Eastern Daylight Time today. To participate on the conference call, please dial (866) 548-4713 (domestic) or (323) 794-2093 (international) approximately ten minutes before the 8:30 a.m. EDT start.Please mention to the operator that you are dialing in for Honeywell's second-quarter 2020 earnings call or provide the conference code HON2Q20. The live webcast of the investor call as well as related presentation materials will be available through the Investor Relations section of the company's website (www.honeywell.com/investor). Investors can hear a replay of the conference call from 12:30 p.m. EDT, July 24, until 12:30 p.m. EDT, July 31, by dialing (888) 203-1112 (domestic) or (719) 457-0820 (international). The access code is 7938730. TABLE 1: SUMMARY OF HONEYWELL FINANCIAL RESULTS 2Q 2020 2Q 2019 Change Sales 7,477 9,243 (19%) Organic Growth (18%) Segment Margin 18.5% 21.3% -280 bps Operating Income Margin 13.6% 19.1% -550 bps Earnings Per Share $1.53 $2.10 (27%) Adjusted Earnings Per Share2 $1.26 $2.10 (40%) Cash Flow from Operations 1,480 1,678 (12%) Operating Cash Flow Conversion 137% 109% 28% Free Cash Flow 1,253 1,507 (17%) Adjusted Free Cash Flow3 1,253 1,535 (18%) Adjusted Free Cash Flow Conversion1 140% 100% 40% TABLE 2: SUMMARY OF SEGMENT FINANCIAL RESULTS AEROSPACE 2Q 2020 2Q 2019 Change Sales 2,543 3,508 (28%) Organic Growth (27%) Segment Profit 528 907 (42%) Segment Margin 20.8% 25.9% -510 bps HONEYWELL BUILDING TECHNOLOGIES Sales 1,177 1,450 (19%) Organic Growth (17%) Segment Profit 250 300 (17%) Segment Margin 21.2% 20.7% 50 bps PERFORMANCE MATERIALS AND TECHNOLOGIES Sales 2,218 2,735 (19%) Organic Growth (17%) Segment Profit 419 644 (35%) Segment Margin 18.9% 23.5% -460 bps SAFETY AND PRODUCTIVITY SOLUTIONS Sales 1,539 1,550 (1%) Organic Growth 1% Segment Profit 213 191 12% Segment Margin 13.8% 12.3% 150 bps 1Adjusted free cash flow conversion excludes impacts from separation costs related to the spin-offs of $28M in 2Q19 and 2Q20 favorable resolution of a foreign tax matter related to the spin-off transactions 2Adjusted EPS and adjusted EPS V% exclude 2Q20 favorable resolution of a foreign tax matter related to the spin-off transactions 3Adjusted free cash flow excludes impacts from separation costs related to the spin-offs of $28M in 2Q19 Honeywell (www.honeywell.com) is a Fortune 100 technology company that delivers industry specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help everything from aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom. This release contains certain statements that may be deemed \"forward-looking statements\" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, technological, and COVID-19 public health factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, and other developments, including the potential impact of the COVID-19 pandemic, and business decisions may differ from those envisaged by such forward-looking statements. Any forward-looking plans described herein are not final and may be modified or abandoned at any time. No final decision will be taken with respect to such plans or proposals without prior satisfaction of any applicable requirements with respect to informing, consulting or negotiating with employees or their representatives. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission. This release contains financial measures presented on a non-GAAP basis. Honeywell's non-GAAP financial measures used in this release are as follows: segment profit, on an overall Honeywell basis, a measure by which we assess operating performance, which we define as operating income adjusted for certain items as presented in the Appendix; segment margin, on an overall Honeywell basis, which we define as segment profit divided by sales; organic sales growth, which we define as sales growth less the impacts from foreign currency translation, and acquisitions and divestitures for the first 12 months following transaction date; free cash flow, which we define as cash flow from operations less capital expenditures; adjusted free cash flow, which we define as cash flow from operations less capital expenditures and which we adjust to exclude the impact of separation costs related to the spin-offs of Resideo and Garrett, if and as noted in the release; adjusted free cash flow conversion, which we define as adjusted free cash flow divided by net income attributable to Honeywell, excluding separation costs related to the spin-offs and the impact of the favorable resolution of a foreign tax matter related to the spin-off transactions, if and as noted in the release; and adjusted earnings per share, which we adjust to exclude the favorable resolution of a foreign tax matter related to the spin-off transactions. Management believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. These metrics should be considered in addition to, and not as replacements for, the most comparable GAAP measure. Refer to the Appendix attached to this release for reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures. Honeywell International Inc. Consolidated Statement of Operations (Unaudited) (Dollars in millions, except per share amounts) Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Product sales $ 5,743 $ 6,990 $ 12,048 $ 13,703 Service sales 1,734 2,253 3,892 4,424 Net sales 7,477 9,243 15,940 18,127 Costs, expenses and other Cost of products sold (1) 4,163 4,848 8,537 9,470 Cost of services sold (1) 1,113 1,246 2,273 2,503 5,276 6,094 10,810 11,973 Selling, general and administrative expenses (1) 1,183 1,387 2,421 2,750 Other (income) expense (291) (305) (608) (590) Interest and other financial charges 90 85 163 170 6,258 7,261 12,786 14,303 Income before taxes 1,219 1,982 3,154 3,824 Tax expense (benefit) 120 426 449 832 Net income 1,099 1,556 2,705 2,992 Less: Net income attributable to the noncontrolling interest 18 15 43 35 Net income attributable to Honeywell $ 1,081 $ 1,541 $ 2,662 $ 2,957 Earnings per share of common stock - basic $ 1.54 $ 2.13 $ 3.77 $ 4.07 Earnings per share of common stock - assuming dilution $ 1.53 $ 2.10 $ 3.74 $ 4.02 Weighted average number of shares outstanding - basic 702.3 723.2 705.9 726.4 Weighted average number of shares outstanding - assuming dilution 708.1 733.0 712.6 735.9 (1) Cost of products and services sold and selling, general and administrative expenses include amounts for repositioning and other charges, the service cost component of pension and other postretirement (income) expense, and stock compensation expense. Honeywell International Inc. Segment Data (Unaudited) (Dollars in millions) Three Months Ended June 30, Six Months Ended June 30, Net Sales 2020 2019 2020 2019 Aerospace $ 2,543 $ 3,508 $ 5,904 $ 6,849 Honeywell Building Technologies 1,177 1,450 2,458 2,839 Performance Materials and Technologies 2,218 2,735 4,615 5,307 Safety and Productivity Solutions 1,539 1,550 2,963 3,132 Total $ 7,477 $ 9,243 $ 15,940 $ 18,127 Reconciliation of Segment Profit to Income Before Taxes Three Months Ended June 30, Six Months Ended June 30, Segment Profit 2020 2019 2020 2019 Aerospace $ 528 $ 907 $ 1,465 $ 1,745 Honeywell Building Technologies 250 300 512 571 Performance Materials and Technologies 419 644 931 1,208 Safety and Productivity Solutions 213 191 391 403 Corporate (25) (72) (66) (148) Total segment profit 1,385 1,970 3,233 3,779 Interest and other financial charges (90) (85) (163) (170) Stock compensation expense (1) (34) (34) (78) (75) Pension ongoing income (2) 198 148 396 299 Other postretirement income (2) 14 11 27 23 Repositioning and other charges (3,4) (280) (126) (342) (210) Other (5) 26 98 81 178 Income before taxes $ 1,219 $ 1,982 $ 3,154 $ 3,824 (1) Amounts included in Selling, general and administrative expenses. (2) Amounts included in Cost of products and services sold and Selling, general and administrative expenses (service costs) and Other income/expense (non-service cost components). (3) Amounts included in Cost of products and services sold, Selling, general and administrative expenses, and Other income/expense. (4) Includes repositioning, asbestos, and environmental expenses. (5) Amounts include the other components of Other income/expense not included within other categories in this reconciliation. Equity income (loss) of affiliated companies is included in segment profit. Honeywell International Inc. Consolidated Balance Sheet (Unaudited) (Dollars in millions) June 30, 2020 December 31,2019 ASSETS Current assets: Cash and cash equivalents $ 13,778 $ 9,067 Short-term investments 1,349 1,349 Accounts receivable - net 6,717 7,493 Inventories 4,753 4,421 Other current assets 1,724 1,973 Total current assets 28,321 24,303 Investments and long-term receivables 626 588 Property, plant and equipment - net 5,327 5,325 Goodwill 15,518 15,563 Other intangible assets - net 3,551 3,734 Insurance recoveries for asbestos related liabilities 379 392 Deferred income taxes 106 86 Other assets 9,776 8,688 Total assets $ 63,604 $ 58,679 LIABILITIES Current liabilities: Accounts payable $ 5,366 $ 5,730 Commercial paper and other short-term borrowings 3,531 3,516 Current maturities of long-term debt 967 1,376 Accrued liabilities 7,477 7,476 Total current liabilities 17,341 18,098 Long-term debt 17,591 11,110 Deferred income taxes 1,461 1,670 Postretirement benefit obligations other than pensions 317 326 Asbestos related liabilities 1,894 1,996 Other liabilities 6,627 6,766 Redeemable noncontrolling interest 7 7 Shareowners' equity 18,366 18,706 Total liabilities, redeemable noncontrolling interest and shareowners' equity $ 63,604 $ 58,679 Honeywell International Inc. Consolidated Statement of Cash Flows (Unaudited) (Dollars in millions) Three Months EndedJune 30, Six Months EndedJune 30, 2020 2019 2020 2019 Cash flows from operating activities: Net income $ 1,099 $ 1,556 $ 2,705 $ 2,992 Less: Net income attributable to the noncontrolling interest 18 15 43 35 Net income attributable to Honeywell 1,081 1,541 2,662 2,957 Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities: Depreciation 161 172 314 335 Amortization 89 123 179 221 Repositioning and other charges 280 126 342 210 Net payments for repositioning and other charges (198) (51) (309) (85) Pension and other postretirement income (211) (159) (423) (322) Pension and other postretirement benefit payments (9) (15) (23) (45) Stock compensation expense 34 34 78 75 Deferred income taxes (219) (36) (277) 44 Other (106) 9 (285) 5 Changes in assets and liabilities, net of the effects of acquisitions and divestitures: Accounts receivable 735 (100) 776 98 Inventories (168) (52) (331) (273) Other current assets (60) (22) 106 (239) Accounts payable (310) 21 (364) (8) Accrued liabilities 381 87 (26) (161) Net cash provided by (used for) operating activities 1,480 1,678 2,419 2,812 Cash flows from investing activities: Expenditures for property, plant and equipment (227) (171) (366) (312) Proceeds from disposals of property, plant and equipment 8 7 10 Increase in investments (1,023) (1,048) (1,671) (2,274) Decrease in investments 746 1,367 1,589 2,163 Receipts (payments) from settlements of derivative contracts (204) 110 83 70 Net cash provided by (used for) investing activities (708) 266 (358) (343) Cash flows from financing activities: Proceeds from issuance of commercial paper and other short-term borrowings 3,710 3,796 7,165 7,114 Payments of commercial paper and other short-term borrowings (3,721) (3,796) (7,094) (7,115) Proceeds from issuance of common stock 31 233 97 378 Proceeds from issuance of long-term debt 5,974 9 7,101 29 Payments of long-term debt (93) (71) (1,218) (84) Repurchases of common stock (62) (1,900) (1,985) (2,650) Cash dividends paid (650) (597) (1,285) (1,203) Other (2) (2) (40) (32) Net cash provided by (used for) financing activities 5,187 (2,328) 2,741 (3,563) Effect of foreign exchange rate changes on cash and cash equivalents 98 (16) (91) 32 Net increase (decrease) in cash and cash equivalents 6,057 (400) 4,711 (1,062) Cash and cash equivalents at beginning of period 7,721 8,625 9,067 9,287 Cash and cash equivalents at end of period $ 13,778 $ 8,225 $ 13,778 $ 8,225 Honeywell International Inc. Reconciliation of Organic Sales % Change (Unaudited) Three Months EndedJune 30, 2020 Honeywell Reported sales % change (19)% Less: Foreign currency translation (1)% Less: Acquisitions, divestitures and other, net % Organic sales % change (18)% Aerospace Reported sales % change (28)% Less: Foreign currency translation % Less: Acquisitions, divestitures and other, net (1)% Organic sales % change (27)% Honeywell Building Technologies Reported sales % change (19)% Less: Foreign currency translation (2)% Less: Acquisitions, divestitures and other, net % Organic sales % change (17)% Performance Materials and Technologies Reported sales % change (19)% Less: Foreign currency translation (2)% Less: Acquisitions, divestitures and other, net % Organic sales % change (17)% Safety and Productivity Solutions Reported sales % change (1)% Less: Foreign currency translation (2)% Less: Acquisitions, divestitures and other, net % Organic sales % change 1% We define organic sales percent as the year-over-year change in reported sales relative to the comparable period, excluding the impact on sales from foreign currency translation and acquisitions, net of divestitures. We believe this measure is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. Honeywell International Inc. Reconciliation of Segment Profit to Operating Income and Calculation of Segment Profit and Operating Income Margins (Unaudited) (Dollars in millions) Three Months Ended June 30, 2020 2019 Segment profit $ 1,385 $ 1,970 Stock compensation expense (1) (34) (34) Repositioning, Other (2,3) (295) (137) Pension and other postretirement service costs (4) (38) (37) Operating income $ 1,018 $ 1,762 Segment profit $ 1,385 $ 1,970 Net sales $ 7,477 $ 9,243 Segment profit margin % 18.5 % 21.3 % Operating income $ 1,018 $ 1,762 Net sales $ 7,477 $ 9,243 Operating income margin % 13.6 % 19.1 % (1) Included in Selling, general and administrative expenses. (2) Includes repositioning, asbestos, environmental expenses and equity income adjustment. (3) Included in Cost of products and services sold, Selling, general and administrative expenses and Other income/expense. (4) Included in Cost of products and services sold and Selling, general and administrative expenses. We define segment profit as operating income, excluding stock compensation expense, pension and other postretirement service costs, and repositioning and other charges. We believe these measures are useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. Honeywell International Inc. Reconciliation of Earnings per Share to Adjusted Earnings per Share (Unaudited) Three Months Ended June 30, June 30, 2020 June 30, 2019 Earnings per share of common stock - assuming dilution (1) $ 1.53 $ 2.10 Separation-related tax adjustment (2) (0.27) Adjusted earnings per share of common stock - assuming dilution $ 1.26 $ 2.10 (1) For the three months ended June 30, 2020 and 2019, adjusted earnings per share utilizes weighted average shares of approximately 708.1 million and 733.0 million. (2) For the three months ended June 30, 2020, separation-related tax adjustment of $186 million ($186 million net of tax) includes the favorable resolution of a foreign tax matter related to the spin-off transactions. We believe adjusted earnings per share, excluding spin-off impact, is a measure that is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. For forward looking information, management cannot reliably predict or estimate, without unreasonable effort, the pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. We therefore do not include an estimate for the pension mark-to-market expense. Based on economic and industry conditions, future developments and other relevant factors, these assumptions are subject to change. Honeywell International Inc. Reconciliation of Cash Provided by Operating Activities to Adjusted Free Cash Flow and Calculation of Adjusted Free Cash Flow Conversion (Unaudited) (Dollars in millions) Three MonthsEnded June 30, 2020 Three MonthsEnded June 30, 2019 Cash provided by operating activities $ 1,480 $ 1,678 Expenditures for property, plant and equipment (227) (171) Free cash flow 1,253 1,507 Separation cost payments 28 Adjusted free cash flow $ 1,253 $ 1,535 Net income attributable to Honeywell 1,081 1,541 Separation-related tax adjustment (186) Adjusted net income attributable to Honeywell $ 895 $ 1,541 Cash provided by operating activities $ 1,480 $ 1,678 Net income (loss) attributable to Honeywell $ 1,081 $ 1,541 Operating cash flow conversion 137 % 109 % Adjusted free cash flow $ 1,253 $ 1,535 Adjusted net income attributable to Honeywell $ 895 $ 1,541 Adjusted free cash flow conversion % 140 % 100 % We define free cash flow as cash provided by operating activities less cash expenditures for property, plant and equipment. We believe that this metric is useful to investors and management as a measure of cash generated by business operations that will be used to repay scheduled debt maturities and can be used to invest in future growth through new business development activities or acquisitions, pay dividends, repurchase stock or repay debt obligations prior to their maturities. This metric can also be used to evaluate our ability to generate cash flow from business operations and the impact that this cash flow has on our liquidity. Contacts: Media Investor Relations Nina Krauss Mark Bendza (704) 627-6035 (704) 627-6200 [emailprotected] [emailprotected] SOURCE Honeywell Related Links http://www.honeywell.com"
Chinese News:
7月24日，霍尼韦尔发布财报称，第二季度公司营收74.8亿美元，同比下降19%；净利润10.8亿美元，去年同期为15.4亿美元。
Japanese News:
米国株式市場は続落して取引を終了した。週末を前に、新型コロナウイルス感染者数の急激な増加、企業決算が軟調だったこと、および地政学的な不透明感が広がったことで、幅広い銘柄に売りが出た。 特に主要指数の重しとなったのはハイテク銘柄で、半導体大手のインテルが、次世代半導体技術（回路線幅7ナノメートル）の開発遅延を発表したことで16.2％の急落を記録した。 LPLファイナンシャルのシニア市場ストラテジストであるライアン・デトリック氏は、「週末を控え市場に不安が広がっている」と述べ、ここ2カ月間のナスダック指数やハイテク株の急激な上昇を考えれば調整局面に入ってもおかしくないと指摘した。 週単位では主要3指数がいずれも下落し、S&P500指数とダウ平均株価は4週ぶりにマイナスに転じたほか、ナスダック総合指数も過去4週間で最大の下げ幅を記録した。 S&P500指数は直近、2月に付けた過去最高値から約5％下回る水準まで戻していたが、年初来で見るとほぼ横ばいで推移している。対照的にナスダック総合指数は、年初来で約15％上昇している。 デトリック氏は、来週には米連邦公開市場委員会（FOMC）の開催や企業決算発表、さらに米国GDP速報値の発表が予定されており、市場に不安感が広がるのも自然な流れだと述べた。 来週30日にはアップル、アルファベット、アマゾンが決算発表を控えるほか、第2四半期のGDP速報値が米商務省より発表される予定だ。アナリストの予測では、第2四半期GDPは35％減少すると見込まれている。 米国内の新型コロナ感染者数は累計で400万人を超え、23日には死者数が3日連続で1000人以上増加した。 また、中国政府が四川省成都市にある米国総領事館の閉鎖を通知したことも市場心理の重しとなった。これは米政府がテキサス州ヒューストンの中国総領事館の閉鎖を命じたことへの報復措置とみられる。 業種別ではS&P500の11セクターのうち、一般消費財を除くすべてが下落。特に情報技術セクターの下落率が最も大きかった。 ヘルスケアセクターは、トランプ政権が薬価引き下げに関する大統領令を準備していることを背景に1.1％の下落を記録した。 決算関連ではS&P500企業のうち128社が第2四半期決算を発表し、約80.5％がアナリストの慎重な事前予想を上回った。 個別銘柄では、クレジットカード大手アメリカン・エキスプレスが世界的なロックダウンによるカード利用低迷で利益が85％減となり、株価は1.4％下落した。一方、通信大手ベライゾンは在宅勤務需要に伴う通信サービスの利用増加で市場予想を上回る業績を発表し、株価が1.8％上昇した。 複合企業ハネウェルは利益が市場予想を上回ったが、先行き不透明感を背景に2.8％下落。インテルの競合企業であるアドバンスト・マイクロ・デバイセズ（AMD）は16.5％高となった。電気自動車メーカーのテスラは6.3％の下落を続けた。 ニューヨーク証券取引所では値下がり銘柄が値上がり銘柄を約1.92倍上回り、ナスダックでも約2.77倍の比率で値下がり銘柄が多かった。米国市場の総合取引高は95億7000万株で、直近20営業日の平均110億4000万株を下回った。
Spanish News:
El grupo industrial estadounidense Honeywell obtuvo un beneficio neto atribuido de 1.081 millones de dólares (933 millones de euros) en el segundo trimestre de 2020, lo que representa una caída del 29,8% en comparación con el resultado contabilizado por la multinacional en el mismo periodo de 2019, informó la compañía. Las ventas de Honeywell entre abril y junio alcanzaron los 7.477 millones de dólares (6.452 millones de euros), un 19,1% menos que un año antes, incluyendo una bajada del 27,5% de los ingresos del negocio aeroespacial, hasta 2.543 millones de dólares (2.194 millones de euros) y del 19% en la división de construcción, hasta 1.177 millones de dólares (1.015 millones de euros). Por su parte, la facturación del negocio de materiales y tecnologías de Honeywell recortó un 19% sus ingresos en el segundo trimestre, hasta 2.218 millones de dólares (1.914 millones de euros), mientras que la unidad de seguridad y productividad facturó un 1% menos, hasta 1.539 millones de dólares (1.328 millones de euros). "El segundo trimestre fue difícil, pero ejecutamos las tres cosas que nos permitirán hacer frente a esta recesión: administrar agresivamente los costes, impulsar el crecimiento de las ventas donde la demanda es fuerte e invertir en nuevas tecnologías", subrayó Darius Adamczyk, presidente y consejero delegado de la empresa. En el primer semestre, Honeywell obtuvo un beneficio neto atribuido de 2.662 millones de dólares (2.297 millones de euros), un 10% por debajo de su resultado de la primera mitad de 2019. De su lado, las ventas de la compañía de Carolina del Norte cayeron un 12%, hasta 15.940 millones de dólares (13.756 millones de euros). Por otro lado, la firma indicó que tras alcanzar un ahorro de costes de 500 millones de dólares (431 millones de euros) en el trimestre, espera ampliar este ajuste en la segunda mitad del año, para alcanzar una cifra agregada de ahorro de entre 1.400 y 1.600 millones de dólares (1.208 y 1.381 millones de euros).
Greek News:
Η εταιρία Honeywell πρόσφατα υπέγραψε σύμβαση με την ουκρανική ενεργειακή εταιρεία DTEK για την αποκατάσταση του πρώτου συστήματος αποθήκευσης ενέργειας με μπαταρίες σε κλίμακα δικτύου στην Ουκρανία. Αυτό το πιλοτικό έργο, περιλαμβάνει μια μπαταρία ιόντων λιθίου η οποία θα τοποθετηθεί στον θερμοηλεκτρικό σταθμό Ζαπορίζια και θα είναι ισχύος 1MW και χωρητικότητας 1,5 MWh. Σκοπός αυτού του συστήματος η υποστήριξη της σταθερότητας του δικτύου με τη παροχή υπηρεσιών συγκράτησης συχνότητας αλλά και ενεργειακό arbitrage, φορτίζοντας σε περιόδους χαμηλής ζήτησης και εκφορτίζοντας κατά τις ώρες αιχμής. Η εταιρία έχει ως στρατηγική την ενίσχυση της παρουσίας της σε λύσεις ενεργειακής μετάβασης, παρά τη συνολική επιβράδυνση στον τομέα Υλικώ Απόδοσης και Τεχνολογιών (PMT) της εταιρίας. Σε αυτή τη στρατηγική εντάσσεται και το παραπάνω έργο. Ο τομέας αυτός, κατέγραψε μείωση εσόδων συγκεκριμένα $2,218 εκατ. το δεύτερο τρίμηνο του 2020, συγκριτικά με $2,735 εκατ. την αντίστοιχη περίοδο του 2019, λόγω κυρίως της μείωσης της παγκόσμιας ζήτησης ενέργειας κατά την πανδημία. Παρότι οι τεχνολογίες της Honeywell υποστηρίζουν κρίσιμες λειτουργίες σε βιομηχανίες πετρελαίου, φυσικού αερίου και ανανεώσιμων καυσίμων, η πτώση των εσόδων αντανακλά τις ευρύτερες πιέσεις στις κεφαλαιουχικές δαπάνες και τις επενδύσεις στον ενεργειακό τομέα. Το πιλοτικό έργο στην Ουκρανία ενδέχεται να λειτουργήσει ως σταθμός για την ενίσχυση των πράσινων τεχνολογιών της εταιρείας σε αναδυόμενες αγορές.
Question:
What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: Honeywell implemented aggressive cost management as a key strategy. In Q2, it realized $500 million in cost savings and also emphasized commercial excellence, productivity improvements, and sales growth in resilient sectors like defense and automation to offset margin pressure from volume declines in other areas.
Financial Statement Evidence: Honeywell’s gross profit in Q2 FY2020 was $2.2B on $7.5B in revenue, compared to $3.1B on $9.2B revenue in Q2 FY2019. Net income dropped from $1.6B to $1.1B. |
HON_20200724 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:------------------------------------------------------------------------------|:----------------------|:-----------|:------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | June 30, 2020 | | December 31, 2019 | | | | | | | | |
| | (Dollars in millions) | | | | | | | | | | |
| ASSETS | | | | | | | | | | | |
| Current assets: | | | | | | | | | | | |
| Cash and cash equivalents | $ | 13,778 | | | $ | 9,067 | | | | | |
| Short-term investments | 1,349 | | | 1,349 | | | | | | | |
| Accounts receivable - net | 6,717 | | | 7,493 | | | | | | | |
| Inventories | 4,753 | | | 4,421 | | | | | | | |
| Other current assets | 1,724 | | | 1,973 | | | | | | | |
| Total current assets | 28,321 | | | 24,303 | | | | | | | |
| Investments and long-term receivables | 626 | | | 588 | | | | | | | |
| Property, plant and equipment - net | 5,327 | | | 5,325 | | | | | | | |
| Goodwill | 15,518 | | | 15,563 | | | | | | | |
| Other intangible assets - net | 3,551 | | | 3,734 | | | | | | | |
| Insurance recoveries for asbestos related liabilities | 379 | | | 392 | | | | | | | |
| Deferred income taxes | 106 | | | 86 | | | | | | | |
| Other assets | 9,776 | | | 8,688 | | | | | | | |
| Total assets | $ | 63,604 | | | $ | 58,679 | | | | | |
| LIABILITIES | | | | | | | | | | | |
| Current liabilities: | | | | | | | | | | | |
| Accounts payable | $ | 5,366 | | | $ | 5,730 | | | | | |
| Commercial paper and other short-term borrowings | 3,531 | | | 3,516 | | | | | | | |
| Current maturities of long-term debt | 967 | | | 1,376 | | | | | | | |
| Accrued liabilities | 7,477 | | | 7,476 | | | | | | | |
| Total current liabilities | 17,341 | | | 18,098 | | | | | | | |
| Long-term debt | 17,591 | | | 11,110 | | | | | | | |
| Deferred income taxes | 1,461 | | | 1,670 | | | | | | | |
| Postretirement benefit obligations other than pensions | 317 | | | 326 | | | | | | | |
| Asbestos related liabilities | 1,894 | | | 1,996 | | | | | | | |
| Other liabilities | 6,627 | | | 6,766 | | | | | | | |
| Redeemable noncontrolling interest | 7 | | | 7 | | | | | | | |
| SHAREOWNERS’ EQUITY | | | | | | | | | | | |
| Capital - common stock issued | 958 | | | 958 | | | | | | | |
| - additional paid-in capital | 7,104 | | | 6,876 | | | | | | | |
| Common stock held in treasury, at cost | (25,685) | | | (23,836) | | | | | | | |
| Accumulated other comprehensive loss | (3,310) | | | (3,197) | | | | | | | |
| Retained earnings | 39,080 | | | 37,693 | | | | | | | |
| Total Honeywell shareowners’ equity | 18,147 | | | 18,494 | | | | | | | |
| Noncontrolling interest | 219 | | | 212 | | | | | | | |
| Total shareowners’ equity | 18,366 | | | 18,706 | | | | | | | |
| Total liabilities, redeemable noncontrolling interest and shareowners’ equity | $ | 63,604 | | | $ | 58,679 | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:------------------------------------------------------------------------------------------------------------|:--------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | Six Months Ended June 30, | | | | | | | | | | |
| | 2020 | | 2019 | | | | | | | | |
| | (Dollars in millions) | | | | | | | | | | |
| Cash flows from operating activities: | | | | | | | | | | | |
| Net income | $ | 2,705 | | | $ | 2,992 | | | | | |
| Less: Net income attributable to the noncontrolling interest | 43 | | | 35 | | | | | | | |
| Net income attributable to Honeywell | 2,662 | | | 2,957 | | | | | | | |
| Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities: | | | | | | | | | | | |
| Depreciation | 314 | | | 335 | | | | | | | |
| Amortization | 179 | | | 221 | | | | | | | |
| | | | | | | | | | | | |
| Repositioning and other charges | 342 | | | 210 | | | | | | | |
| Net payments for repositioning and other charges | (309) | | | (85) | | | | | | | |
| Pension and other postretirement income | (423) | | | (322) | | | | | | | |
| Pension and other postretirement benefit payments | (23) | | | (45) | | | | | | | |
| Stock compensation expense | 78 | | | 75 | | | | | | | |
| Deferred income taxes | (277) | | | 44 | | | | | | | |
| Other | (285) | | | 5 | | | | | | | |
| Changes in assets and liabilities, net of the effects of acquisitions and divestitures: | | | | | | | | | | | |
| Accounts receivable | 776 | | | 98 | | | | | | | |
| Inventories | (331) | | | (273) | | | | | | | |
| Other current assets | 106 | | | (239) | | | | | | | |
| Accounts payable | (364) | | | (8) | | | | | | | |
| Accrued liabilities | (26) | | | (161) | | | | | | | |
| Net cash provided by (used for) operating activities | 2,419 | | | 2,812 | | | | | | | |
| Cash flows from investing activities: | | | | | | | | | | | |
| Expenditures for property, plant and equipment | (366) | | | (312) | | | | | | | |
| Proceeds from disposals of property, plant and equipment | 7 | | | 10 | | | | | | | |
| Increase in investments | (1,671) | | | (2,274) | | | | | | | |
| Decrease in investments | 1,589 | | | 2,163 | | | | | | | |
| | | | | | | | | | | | |
| Receipts (payments) from settlements of derivative contracts | 83 | | | 70 | | | | | | | |
| Net cash provided by (used for) investing activities | (358) | | | (343) | | | | | | | |
| Cash flows from financing activities: | | | | | | | | | | | |
| Proceeds from issuance of commercial paper and other short-term borrowings | 7,165 | | | 7,114 | | | | | | | |
| Payments of commercial paper and other short-term borrowings | (7,094) | | | (7,115) | | | | | | | |
| Proceeds from issuance of common stock | 97 | | | 378 | | | | | | | |
| Proceeds from issuance of long-term debt | 7,101 | | | 29 | | | | | | | |
| Payments of long-term debt | (1,218) | | | (84) | | | | | | | |
| Repurchases of common stock | (1,985) | | | (2,650) | | | | | | | |
| Cash dividends paid | (1,285) | | | (1,203) | | | | | | | |
| Other | (40) | | | (32) | | | | | | | |
| Net cash provided by (used for) financing activities | 2,741 | | | (3,563) | | | | | | | |
| Effect of foreign exchange rate changes on cash and cash equivalents | (91) | | | 32 | | | | | | | |
| Net increase (decrease) in cash and cash equivalents | 4,711 | | | (1,062) | | | | | | | |
| Cash and cash equivalents at beginning of period | 9,067 | | | 9,287 | | | | | | | |
| Cash and cash equivalents at end of period | $ | 13,778 | | | $ | 8,225 | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 | Column 22 | Column 23 | Column 24 |
|:-------------------------------------------------------------|:------------------------------------------------|:-----------|:-----------|:-----------|:--------------------------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | | | | |
| | Three Months Ended June 30, | | | | Six Months Ended June 30, | | | | | | | | | | | | | | | | | | |
| | 2020 | | 2019 | | 2020 | | 2019 | | | | | | | | | | | | | | | | |
| | (Dollars in millions, except per share amounts) | | | | | | | | | | | | | | | | | | | | | | |
| Product sales | $ | 5,743 | | | $ | 6,990 | | | $ | 12,048 | | | $ | 13,703 | | | | | | | | | |
| Service sales | 1,734 | | | 2,253 | | | 3,892 | | | 4,424 | | | | | | | | | | | | | |
| Net sales | 7,477 | | | 9,243 | | | 15,940 | | | 18,127 | | | | | | | | | | | | | |
| Costs, expenses and other | | | | | | | | | | | | | | | | | | | | | | | |
| Cost of products sold | 4,163 | | | 4,848 | | | 8,537 | | | 9,470 | | | | | | | | | | | | | |
| Cost of services sold | 1,113 | | | 1,246 | | | 2,273 | | | 2,503 | | | | | | | | | | | | | |
| | 5,276 | | | 6,094 | | | 10,810 | | | 11,973 | | | | | | | | | | | | | |
| Selling, general and administrative expenses | 1,183 | | | 1,387 | | | 2,421 | | | 2,750 | | | | | | | | | | | | | |
| Other (income) expense | (291) | | | (305) | | | (608) | | | (590) | | | | | | | | | | | | | |
| Interest and other financial charges | 90 | | | 85 | | | 163 | | | 170 | | | | | | | | | | | | | |
| | 6,258 | | | 7,261 | | | 12,786 | | | 14,303 | | | | | | | | | | | | | |
| Income before taxes | 1,219 | | | 1,982 | | | 3,154 | | | 3,824 | | | | | | | | | | | | | |
| Tax expense (benefit) | 120 | | | 426 | | | 449 | | | 832 | | | | | | | | | | | | | |
| Net income | 1,099 | | | 1,556 | | | 2,705 | | | 2,992 | | | | | | | | | | | | | |
| Less: Net income attributable to the noncontrolling interest | 18 | | | 15 | | | 43 | | | 35 | | | | | | | | | | | | | |
| Net income attributable to Honeywell | $ | 1,081 | | | $ | 1,541 | | | $ | 2,662 | | | $ | 2,957 | | | | | | | | | |
| Earnings per share of common stock - basic | $ | 1.54 | | | $ | 2.13 | | | $ | 3.77 | | | $ | 4.07 | | | | | | | | | |
| Earnings per share of common stock - assuming dilution | $ | 1.53 | | | $ | 2.10 | | | $ | 3.74 | | | $ | 4.02 | | | | | | | | | |
---
English News:
"Honeywell Reports EPS Of $1.53, Adjusted EPS Of $1.26; Delivers $1.5 Billion Of Operating Cash Flow - CHARLOTTE, N.C., July 24, 2020 /PRNewswire/ --Honeywell (NYSE: HON) today announced results for the second quarter of 2020, which were significantly impacted by the COVID-19 pandemic and oil price volatility. The company reported a second-quarter sales decline of 19%, down 18% organic, operating margin contraction of 550 basis points, and segment margin contraction of 280 basis points, with adjusted earnings per share2 of $1.26. \"The second quarter was a challenging one, but we executed on the three things that will enable us to weather this downturn: aggressively managing cost, driving sales growth where demand is strong, and investing in exciting new technologies that, through careful attention to customer and end-user needs, will help keep people safe when they get back to the workplace, back to play, back to travel, and back to life,\" said Darius Adamczyk, chairman and chief executive officer of Honeywell. \"In terms of cost management, we delivered $500 million in savings from the first phase of cost actions we announced earlier this year, and we funded over $250 million of repositioning in the quarter. In addition, we developed a second phase of cost actions that, when combined with our previously announced plan, will generate $1.4 billion to $1.6 billion of cost savings during 2020. We further enhanced our financial flexibility this quarter by issuing $3 billion of bonds at attractive rates, reducing our term loan from $6 billion to $3 billion, and fully drawing the remaining balance. We ended the quarter with $15.1 billion of cash and short-term investments on hand and an overfunded pension plan,\" Adamczyk said. \"We also remain focused on driving sales growth in areas that have not been as impacted by the current downturn. In the second quarter, our businesses serving the defense, warehouse automation, and personal protective equipment industries exhibited outstanding performance. Orders for Intelligrated were $1.2 billion in the quarter, up triple-digits year-over-year, positioning the business for continued growth. We committed approximately $250 million of incremental growth capital expenditures compared to our previous allocated budget for new projects to accelerate our investments in personal protective equipment, Intelligrated, and other growth areas,\" Adamczyk continued. \"With an exceptional, diverse portfolio of technologies that improve safety and help our customers to be more efficient, Honeywell is uniquely equipped to support our customers in the post-COVID world. We are actively investing in and introducing new solutions, such as an efficient and effective ultraviolet light cleaner for aircraft, temperature and PPE compliance monitoring solutions, technologies that can help building owners comply with new hygiene and social distancing policies, and a new pharmaceutical packaging system for bottles and vials that preserves shelf-life and drug efficacy. \"Our focus on sales, cost, and optimizing working capital, combined with our diverse portfolio and strong balance sheet, will enable Honeywell to adapt to and execute through the downturn. I am confident we will emerge well-positioned for the economic recovery to come,\" concluded Adamczyk. Due to the evolving nature of the COVID-19 pandemic and related supply chain and market disruptions, Honeywell previously announced that it has suspended providing full financial guidance until the economic impact of COVID-19 stabilizes. The company expects ongoing top-line challenges due to the current market conditions, particularly in the aerospace and oil and gas sectors. Second-Quarter Performance Honeywell sales for the second quarter were down 19% on a reported basis and down 18% on an organic basis. The difference between reported and organic sales primarily relates to the impact of foreign currency translation. The second-quarter financial results can be found in Tables 1 and 2. Aerospace sales for the second quarter were down 27% on an organic basis driven by lower commercial aftermarket demand due to steep declines in flight hours, reduced volumes in commercial original equipment, and the 737 MAX impact in air transport original equipment, partially offset by continued strength in the Defense and Space business. Segment margin contracted 510 basis points to 20.8% driven by lower volumes and sales mix. Honeywell Building Technologies sales for the second quarter were down 17% on an organic basis driven by lower demand for security, building management, and fire products, and delays in Building Solutions projects in key verticals. Segment margin expanded 50 basis points to 21.2%. Margin performance was driven by commercial excellence and productivity actions. Performance Materials and Technologies sales for the second quarter were down 17% on an organic basis driven by volume declines in products, including thermal solutions and smart energy, in Process Solutions; lower gas processing projects, catalyst shipments, and licensing due to softness in the oil and gas sector in UOP; and lower automotive refrigerant volumes in Advanced Materials, partially offset by strength in specialty products. Segment margin contracted 460 basis points to 18.9% driven by the impact of lower sales volumes, partially offset by productivity actions. Safety and Productivity Solutions sales for the second quarter were up 1% on an organic basis driven by double-digit Intelligrated growth and demand for respiratory personal protective equipment, partially offset by lower short-cycle sales volumes in sensing and IoT, productivity products, and gas sensing. Record high bookings of $0.7 billion in PPE and $1.2 billion in Intelligrated drove orders growth up approximately 90% year-over-year. Backlog was up over 100% year-over-year, including an all-time high Intelligrated backlog of over $2 billion. Segment margin expanded 150 basis points to 13.8% driven by productivity, net of inflation, and commercial excellence. Conference Call Details Honeywell will discuss its second-quarter results and third-quarter outlook during an investor conference call starting at 8:30 a.m. Eastern Daylight Time today. To participate on the conference call, please dial (866) 548-4713 (domestic) or (323) 794-2093 (international) approximately ten minutes before the 8:30 a.m. EDT start.Please mention to the operator that you are dialing in for Honeywell's second-quarter 2020 earnings call or provide the conference code HON2Q20. The live webcast of the investor call as well as related presentation materials will be available through the Investor Relations section of the company's website (www.honeywell.com/investor). Investors can hear a replay of the conference call from 12:30 p.m. EDT, July 24, until 12:30 p.m. EDT, July 31, by dialing (888) 203-1112 (domestic) or (719) 457-0820 (international). The access code is 7938730. TABLE 1: SUMMARY OF HONEYWELL FINANCIAL RESULTS 2Q 2020 2Q 2019 Change Sales 7,477 9,243 (19%) Organic Growth (18%) Segment Margin 18.5% 21.3% -280 bps Operating Income Margin 13.6% 19.1% -550 bps Earnings Per Share $1.53 $2.10 (27%) Adjusted Earnings Per Share2 $1.26 $2.10 (40%) Cash Flow from Operations 1,480 1,678 (12%) Operating Cash Flow Conversion 137% 109% 28% Free Cash Flow 1,253 1,507 (17%) Adjusted Free Cash Flow3 1,253 1,535 (18%) Adjusted Free Cash Flow Conversion1 140% 100% 40% TABLE 2: SUMMARY OF SEGMENT FINANCIAL RESULTS AEROSPACE 2Q 2020 2Q 2019 Change Sales 2,543 3,508 (28%) Organic Growth (27%) Segment Profit 528 907 (42%) Segment Margin 20.8% 25.9% -510 bps HONEYWELL BUILDING TECHNOLOGIES Sales 1,177 1,450 (19%) Organic Growth (17%) Segment Profit 250 300 (17%) Segment Margin 21.2% 20.7% 50 bps PERFORMANCE MATERIALS AND TECHNOLOGIES Sales 2,218 2,735 (19%) Organic Growth (17%) Segment Profit 419 644 (35%) Segment Margin 18.9% 23.5% -460 bps SAFETY AND PRODUCTIVITY SOLUTIONS Sales 1,539 1,550 (1%) Organic Growth 1% Segment Profit 213 191 12% Segment Margin 13.8% 12.3% 150 bps 1Adjusted free cash flow conversion excludes impacts from separation costs related to the spin-offs of $28M in 2Q19 and 2Q20 favorable resolution of a foreign tax matter related to the spin-off transactions 2Adjusted EPS and adjusted EPS V% exclude 2Q20 favorable resolution of a foreign tax matter related to the spin-off transactions 3Adjusted free cash flow excludes impacts from separation costs related to the spin-offs of $28M in 2Q19 Honeywell (www.honeywell.com) is a Fortune 100 technology company that delivers industry specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help everything from aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom. This release contains certain statements that may be deemed \"forward-looking statements\" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, technological, and COVID-19 public health factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, and other developments, including the potential impact of the COVID-19 pandemic, and business decisions may differ from those envisaged by such forward-looking statements. Any forward-looking plans described herein are not final and may be modified or abandoned at any time. No final decision will be taken with respect to such plans or proposals without prior satisfaction of any applicable requirements with respect to informing, consulting or negotiating with employees or their representatives. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission. This release contains financial measures presented on a non-GAAP basis. Honeywell's non-GAAP financial measures used in this release are as follows: segment profit, on an overall Honeywell basis, a measure by which we assess operating performance, which we define as operating income adjusted for certain items as presented in the Appendix; segment margin, on an overall Honeywell basis, which we define as segment profit divided by sales; organic sales growth, which we define as sales growth less the impacts from foreign currency translation, and acquisitions and divestitures for the first 12 months following transaction date; free cash flow, which we define as cash flow from operations less capital expenditures; adjusted free cash flow, which we define as cash flow from operations less capital expenditures and which we adjust to exclude the impact of separation costs related to the spin-offs of Resideo and Garrett, if and as noted in the release; adjusted free cash flow conversion, which we define as adjusted free cash flow divided by net income attributable to Honeywell, excluding separation costs related to the spin-offs and the impact of the favorable resolution of a foreign tax matter related to the spin-off transactions, if and as noted in the release; and adjusted earnings per share, which we adjust to exclude the favorable resolution of a foreign tax matter related to the spin-off transactions. Management believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. These metrics should be considered in addition to, and not as replacements for, the most comparable GAAP measure. Refer to the Appendix attached to this release for reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures. Honeywell International Inc. Consolidated Statement of Operations (Unaudited) (Dollars in millions, except per share amounts) Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Product sales $ 5,743 $ 6,990 $ 12,048 $ 13,703 Service sales 1,734 2,253 3,892 4,424 Net sales 7,477 9,243 15,940 18,127 Costs, expenses and other Cost of products sold (1) 4,163 4,848 8,537 9,470 Cost of services sold (1) 1,113 1,246 2,273 2,503 5,276 6,094 10,810 11,973 Selling, general and administrative expenses (1) 1,183 1,387 2,421 2,750 Other (income) expense (291) (305) (608) (590) Interest and other financial charges 90 85 163 170 6,258 7,261 12,786 14,303 Income before taxes 1,219 1,982 3,154 3,824 Tax expense (benefit) 120 426 449 832 Net income 1,099 1,556 2,705 2,992 Less: Net income attributable to the noncontrolling interest 18 15 43 35 Net income attributable to Honeywell $ 1,081 $ 1,541 $ 2,662 $ 2,957 Earnings per share of common stock - basic $ 1.54 $ 2.13 $ 3.77 $ 4.07 Earnings per share of common stock - assuming dilution $ 1.53 $ 2.10 $ 3.74 $ 4.02 Weighted average number of shares outstanding - basic 702.3 723.2 705.9 726.4 Weighted average number of shares outstanding - assuming dilution 708.1 733.0 712.6 735.9 (1) Cost of products and services sold and selling, general and administrative expenses include amounts for repositioning and other charges, the service cost component of pension and other postretirement (income) expense, and stock compensation expense. Honeywell International Inc. Segment Data (Unaudited) (Dollars in millions) Three Months Ended June 30, Six Months Ended June 30, Net Sales 2020 2019 2020 2019 Aerospace $ 2,543 $ 3,508 $ 5,904 $ 6,849 Honeywell Building Technologies 1,177 1,450 2,458 2,839 Performance Materials and Technologies 2,218 2,735 4,615 5,307 Safety and Productivity Solutions 1,539 1,550 2,963 3,132 Total $ 7,477 $ 9,243 $ 15,940 $ 18,127 Reconciliation of Segment Profit to Income Before Taxes Three Months Ended June 30, Six Months Ended June 30, Segment Profit 2020 2019 2020 2019 Aerospace $ 528 $ 907 $ 1,465 $ 1,745 Honeywell Building Technologies 250 300 512 571 Performance Materials and Technologies 419 644 931 1,208 Safety and Productivity Solutions 213 191 391 403 Corporate (25) (72) (66) (148) Total segment profit 1,385 1,970 3,233 3,779 Interest and other financial charges (90) (85) (163) (170) Stock compensation expense (1) (34) (34) (78) (75) Pension ongoing income (2) 198 148 396 299 Other postretirement income (2) 14 11 27 23 Repositioning and other charges (3,4) (280) (126) (342) (210) Other (5) 26 98 81 178 Income before taxes $ 1,219 $ 1,982 $ 3,154 $ 3,824 (1) Amounts included in Selling, general and administrative expenses. (2) Amounts included in Cost of products and services sold and Selling, general and administrative expenses (service costs) and Other income/expense (non-service cost components). (3) Amounts included in Cost of products and services sold, Selling, general and administrative expenses, and Other income/expense. (4) Includes repositioning, asbestos, and environmental expenses. (5) Amounts include the other components of Other income/expense not included within other categories in this reconciliation. Equity income (loss) of affiliated companies is included in segment profit. Honeywell International Inc. Consolidated Balance Sheet (Unaudited) (Dollars in millions) June 30, 2020 December 31,2019 ASSETS Current assets: Cash and cash equivalents $ 13,778 $ 9,067 Short-term investments 1,349 1,349 Accounts receivable - net 6,717 7,493 Inventories 4,753 4,421 Other current assets 1,724 1,973 Total current assets 28,321 24,303 Investments and long-term receivables 626 588 Property, plant and equipment - net 5,327 5,325 Goodwill 15,518 15,563 Other intangible assets - net 3,551 3,734 Insurance recoveries for asbestos related liabilities 379 392 Deferred income taxes 106 86 Other assets 9,776 8,688 Total assets $ 63,604 $ 58,679 LIABILITIES Current liabilities: Accounts payable $ 5,366 $ 5,730 Commercial paper and other short-term borrowings 3,531 3,516 Current maturities of long-term debt 967 1,376 Accrued liabilities 7,477 7,476 Total current liabilities 17,341 18,098 Long-term debt 17,591 11,110 Deferred income taxes 1,461 1,670 Postretirement benefit obligations other than pensions 317 326 Asbestos related liabilities 1,894 1,996 Other liabilities 6,627 6,766 Redeemable noncontrolling interest 7 7 Shareowners' equity 18,366 18,706 Total liabilities, redeemable noncontrolling interest and shareowners' equity $ 63,604 $ 58,679 Honeywell International Inc. Consolidated Statement of Cash Flows (Unaudited) (Dollars in millions) Three Months EndedJune 30, Six Months EndedJune 30, 2020 2019 2020 2019 Cash flows from operating activities: Net income $ 1,099 $ 1,556 $ 2,705 $ 2,992 Less: Net income attributable to the noncontrolling interest 18 15 43 35 Net income attributable to Honeywell 1,081 1,541 2,662 2,957 Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities: Depreciation 161 172 314 335 Amortization 89 123 179 221 Repositioning and other charges 280 126 342 210 Net payments for repositioning and other charges (198) (51) (309) (85) Pension and other postretirement income (211) (159) (423) (322) Pension and other postretirement benefit payments (9) (15) (23) (45) Stock compensation expense 34 34 78 75 Deferred income taxes (219) (36) (277) 44 Other (106) 9 (285) 5 Changes in assets and liabilities, net of the effects of acquisitions and divestitures: Accounts receivable 735 (100) 776 98 Inventories (168) (52) (331) (273) Other current assets (60) (22) 106 (239) Accounts payable (310) 21 (364) (8) Accrued liabilities 381 87 (26) (161) Net cash provided by (used for) operating activities 1,480 1,678 2,419 2,812 Cash flows from investing activities: Expenditures for property, plant and equipment (227) (171) (366) (312) Proceeds from disposals of property, plant and equipment 8 7 10 Increase in investments (1,023) (1,048) (1,671) (2,274) Decrease in investments 746 1,367 1,589 2,163 Receipts (payments) from settlements of derivative contracts (204) 110 83 70 Net cash provided by (used for) investing activities (708) 266 (358) (343) Cash flows from financing activities: Proceeds from issuance of commercial paper and other short-term borrowings 3,710 3,796 7,165 7,114 Payments of commercial paper and other short-term borrowings (3,721) (3,796) (7,094) (7,115) Proceeds from issuance of common stock 31 233 97 378 Proceeds from issuance of long-term debt 5,974 9 7,101 29 Payments of long-term debt (93) (71) (1,218) (84) Repurchases of common stock (62) (1,900) (1,985) (2,650) Cash dividends paid (650) (597) (1,285) (1,203) Other (2) (2) (40) (32) Net cash provided by (used for) financing activities 5,187 (2,328) 2,741 (3,563) Effect of foreign exchange rate changes on cash and cash equivalents 98 (16) (91) 32 Net increase (decrease) in cash and cash equivalents 6,057 (400) 4,711 (1,062) Cash and cash equivalents at beginning of period 7,721 8,625 9,067 9,287 Cash and cash equivalents at end of period $ 13,778 $ 8,225 $ 13,778 $ 8,225 Honeywell International Inc. Reconciliation of Organic Sales % Change (Unaudited) Three Months EndedJune 30, 2020 Honeywell Reported sales % change (19)% Less: Foreign currency translation (1)% Less: Acquisitions, divestitures and other, net % Organic sales % change (18)% Aerospace Reported sales % change (28)% Less: Foreign currency translation % Less: Acquisitions, divestitures and other, net (1)% Organic sales % change (27)% Honeywell Building Technologies Reported sales % change (19)% Less: Foreign currency translation (2)% Less: Acquisitions, divestitures and other, net % Organic sales % change (17)% Performance Materials and Technologies Reported sales % change (19)% Less: Foreign currency translation (2)% Less: Acquisitions, divestitures and other, net % Organic sales % change (17)% Safety and Productivity Solutions Reported sales % change (1)% Less: Foreign currency translation (2)% Less: Acquisitions, divestitures and other, net % Organic sales % change 1% We define organic sales percent as the year-over-year change in reported sales relative to the comparable period, excluding the impact on sales from foreign currency translation and acquisitions, net of divestitures. We believe this measure is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. Honeywell International Inc. Reconciliation of Segment Profit to Operating Income and Calculation of Segment Profit and Operating Income Margins (Unaudited) (Dollars in millions) Three Months Ended June 30, 2020 2019 Segment profit $ 1,385 $ 1,970 Stock compensation expense (1) (34) (34) Repositioning, Other (2,3) (295) (137) Pension and other postretirement service costs (4) (38) (37) Operating income $ 1,018 $ 1,762 Segment profit $ 1,385 $ 1,970 Net sales $ 7,477 $ 9,243 Segment profit margin % 18.5 % 21.3 % Operating income $ 1,018 $ 1,762 Net sales $ 7,477 $ 9,243 Operating income margin % 13.6 % 19.1 % (1) Included in Selling, general and administrative expenses. (2) Includes repositioning, asbestos, environmental expenses and equity income adjustment. (3) Included in Cost of products and services sold, Selling, general and administrative expenses and Other income/expense. (4) Included in Cost of products and services sold and Selling, general and administrative expenses. We define segment profit as operating income, excluding stock compensation expense, pension and other postretirement service costs, and repositioning and other charges. We believe these measures are useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. Honeywell International Inc. Reconciliation of Earnings per Share to Adjusted Earnings per Share (Unaudited) Three Months Ended June 30, June 30, 2020 June 30, 2019 Earnings per share of common stock - assuming dilution (1) $ 1.53 $ 2.10 Separation-related tax adjustment (2) (0.27) Adjusted earnings per share of common stock - assuming dilution $ 1.26 $ 2.10 (1) For the three months ended June 30, 2020 and 2019, adjusted earnings per share utilizes weighted average shares of approximately 708.1 million and 733.0 million. (2) For the three months ended June 30, 2020, separation-related tax adjustment of $186 million ($186 million net of tax) includes the favorable resolution of a foreign tax matter related to the spin-off transactions. We believe adjusted earnings per share, excluding spin-off impact, is a measure that is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. For forward looking information, management cannot reliably predict or estimate, without unreasonable effort, the pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. We therefore do not include an estimate for the pension mark-to-market expense. Based on economic and industry conditions, future developments and other relevant factors, these assumptions are subject to change. Honeywell International Inc. Reconciliation of Cash Provided by Operating Activities to Adjusted Free Cash Flow and Calculation of Adjusted Free Cash Flow Conversion (Unaudited) (Dollars in millions) Three MonthsEnded June 30, 2020 Three MonthsEnded June 30, 2019 Cash provided by operating activities $ 1,480 $ 1,678 Expenditures for property, plant and equipment (227) (171) Free cash flow 1,253 1,507 Separation cost payments 28 Adjusted free cash flow $ 1,253 $ 1,535 Net income attributable to Honeywell 1,081 1,541 Separation-related tax adjustment (186) Adjusted net income attributable to Honeywell $ 895 $ 1,541 Cash provided by operating activities $ 1,480 $ 1,678 Net income (loss) attributable to Honeywell $ 1,081 $ 1,541 Operating cash flow conversion 137 % 109 % Adjusted free cash flow $ 1,253 $ 1,535 Adjusted net income attributable to Honeywell $ 895 $ 1,541 Adjusted free cash flow conversion % 140 % 100 % We define free cash flow as cash provided by operating activities less cash expenditures for property, plant and equipment. We believe that this metric is useful to investors and management as a measure of cash generated by business operations that will be used to repay scheduled debt maturities and can be used to invest in future growth through new business development activities or acquisitions, pay dividends, repurchase stock or repay debt obligations prior to their maturities. This metric can also be used to evaluate our ability to generate cash flow from business operations and the impact that this cash flow has on our liquidity. Contacts: Media Investor Relations Nina Krauss Mark Bendza (704) 627-6035 (704) 627-6200 [emailprotected] [emailprotected] SOURCE Honeywell Related Links http://www.honeywell.com"
Chinese News:
7月24日，霍尼韦尔发布财报称，第二季度公司营收74.8亿美元，同比下降19%；净利润10.8亿美元，去年同期为15.4亿美元。
Japanese News:
米国株式市場は続落して取引を終了した。週末を前に、新型コロナウイルス感染者数の急激な増加、企業決算が軟調だったこと、および地政学的な不透明感が広がったことで、幅広い銘柄に売りが出た。 特に主要指数の重しとなったのはハイテク銘柄で、半導体大手のインテルが、次世代半導体技術（回路線幅7ナノメートル）の開発遅延を発表したことで16.2％の急落を記録した。 LPLファイナンシャルのシニア市場ストラテジストであるライアン・デトリック氏は、「週末を控え市場に不安が広がっている」と述べ、ここ2カ月間のナスダック指数やハイテク株の急激な上昇を考えれば調整局面に入ってもおかしくないと指摘した。 週単位では主要3指数がいずれも下落し、S&P500指数とダウ平均株価は4週ぶりにマイナスに転じたほか、ナスダック総合指数も過去4週間で最大の下げ幅を記録した。 S&P500指数は直近、2月に付けた過去最高値から約5％下回る水準まで戻していたが、年初来で見るとほぼ横ばいで推移している。対照的にナスダック総合指数は、年初来で約15％上昇している。 デトリック氏は、来週には米連邦公開市場委員会（FOMC）の開催や企業決算発表、さらに米国GDP速報値の発表が予定されており、市場に不安感が広がるのも自然な流れだと述べた。 来週30日にはアップル、アルファベット、アマゾンが決算発表を控えるほか、第2四半期のGDP速報値が米商務省より発表される予定だ。アナリストの予測では、第2四半期GDPは35％減少すると見込まれている。 米国内の新型コロナ感染者数は累計で400万人を超え、23日には死者数が3日連続で1000人以上増加した。 また、中国政府が四川省成都市にある米国総領事館の閉鎖を通知したことも市場心理の重しとなった。これは米政府がテキサス州ヒューストンの中国総領事館の閉鎖を命じたことへの報復措置とみられる。 業種別ではS&P500の11セクターのうち、一般消費財を除くすべてが下落。特に情報技術セクターの下落率が最も大きかった。 ヘルスケアセクターは、トランプ政権が薬価引き下げに関する大統領令を準備していることを背景に1.1％の下落を記録した。 決算関連ではS&P500企業のうち128社が第2四半期決算を発表し、約80.5％がアナリストの慎重な事前予想を上回った。 個別銘柄では、クレジットカード大手アメリカン・エキスプレスが世界的なロックダウンによるカード利用低迷で利益が85％減となり、株価は1.4％下落した。一方、通信大手ベライゾンは在宅勤務需要に伴う通信サービスの利用増加で市場予想を上回る業績を発表し、株価が1.8％上昇した。 複合企業ハネウェルは利益が市場予想を上回ったが、先行き不透明感を背景に2.8％下落。インテルの競合企業であるアドバンスト・マイクロ・デバイセズ（AMD）は16.5％高となった。電気自動車メーカーのテスラは6.3％の下落を続けた。 ニューヨーク証券取引所では値下がり銘柄が値上がり銘柄を約1.92倍上回り、ナスダックでも約2.77倍の比率で値下がり銘柄が多かった。米国市場の総合取引高は95億7000万株で、直近20営業日の平均110億4000万株を下回った。
Spanish News:
El grupo industrial estadounidense Honeywell obtuvo un beneficio neto atribuido de 1.081 millones de dólares (933 millones de euros) en el segundo trimestre de 2020, lo que representa una caída del 29,8% en comparación con el resultado contabilizado por la multinacional en el mismo periodo de 2019, informó la compañía. Las ventas de Honeywell entre abril y junio alcanzaron los 7.477 millones de dólares (6.452 millones de euros), un 19,1% menos que un año antes, incluyendo una bajada del 27,5% de los ingresos del negocio aeroespacial, hasta 2.543 millones de dólares (2.194 millones de euros) y del 19% en la división de construcción, hasta 1.177 millones de dólares (1.015 millones de euros). Por su parte, la facturación del negocio de materiales y tecnologías de Honeywell recortó un 19% sus ingresos en el segundo trimestre, hasta 2.218 millones de dólares (1.914 millones de euros), mientras que la unidad de seguridad y productividad facturó un 1% menos, hasta 1.539 millones de dólares (1.328 millones de euros). "El segundo trimestre fue difícil, pero ejecutamos las tres cosas que nos permitirán hacer frente a esta recesión: administrar agresivamente los costes, impulsar el crecimiento de las ventas donde la demanda es fuerte e invertir en nuevas tecnologías", subrayó Darius Adamczyk, presidente y consejero delegado de la empresa. En el primer semestre, Honeywell obtuvo un beneficio neto atribuido de 2.662 millones de dólares (2.297 millones de euros), un 10% por debajo de su resultado de la primera mitad de 2019. De su lado, las ventas de la compañía de Carolina del Norte cayeron un 12%, hasta 15.940 millones de dólares (13.756 millones de euros). Por otro lado, la firma indicó que tras alcanzar un ahorro de costes de 500 millones de dólares (431 millones de euros) en el trimestre, espera ampliar este ajuste en la segunda mitad del año, para alcanzar una cifra agregada de ahorro de entre 1.400 y 1.600 millones de dólares (1.208 y 1.381 millones de euros).
Greek News:
Η εταιρία Honeywell πρόσφατα υπέγραψε σύμβαση με την ουκρανική ενεργειακή εταιρεία DTEK για την αποκατάσταση του πρώτου συστήματος αποθήκευσης ενέργειας με μπαταρίες σε κλίμακα δικτύου στην Ουκρανία. Αυτό το πιλοτικό έργο, περιλαμβάνει μια μπαταρία ιόντων λιθίου η οποία θα τοποθετηθεί στον θερμοηλεκτρικό σταθμό Ζαπορίζια και θα είναι ισχύος 1MW και χωρητικότητας 1,5 MWh. Σκοπός αυτού του συστήματος η υποστήριξη της σταθερότητας του δικτύου με τη παροχή υπηρεσιών συγκράτησης συχνότητας αλλά και ενεργειακό arbitrage, φορτίζοντας σε περιόδους χαμηλής ζήτησης και εκφορτίζοντας κατά τις ώρες αιχμής. Η εταιρία έχει ως στρατηγική την ενίσχυση της παρουσίας της σε λύσεις ενεργειακής μετάβασης, παρά τη συνολική επιβράδυνση στον τομέα Υλικώ Απόδοσης και Τεχνολογιών (PMT) της εταιρίας. Σε αυτή τη στρατηγική εντάσσεται και το παραπάνω έργο. Ο τομέας αυτός, κατέγραψε μείωση εσόδων συγκεκριμένα $2,218 εκατ. το δεύτερο τρίμηνο του 2020, συγκριτικά με $2,735 εκατ. την αντίστοιχη περίοδο του 2019, λόγω κυρίως της μείωσης της παγκόσμιας ζήτησης ενέργειας κατά την πανδημία. Παρότι οι τεχνολογίες της Honeywell υποστηρίζουν κρίσιμες λειτουργίες σε βιομηχανίες πετρελαίου, φυσικού αερίου και ανανεώσιμων καυσίμων, η πτώση των εσόδων αντανακλά τις ευρύτερες πιέσεις στις κεφαλαιουχικές δαπάνες και τις επενδύσεις στον ενεργειακό τομέα. Το πιλοτικό έργο στην Ουκρανία ενδέχεται να λειτουργήσει ως σταθμός για την ενίσχυση των πράσινων τεχνολογιών της εταιρείας σε αναδυόμενες αγορές.
Question:
What are the company's capital expenditures and their strategic significance from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | What are the company's capital expenditures and their strategic significance from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: Honeywell's investment was strategically directed toward expanding production of PPE, scaling up automation solutions, and supporting other high-growth initiatives in response to shifting post-COVID market demands.
Financial Statement Evidence: Honeywell’s capital expenditures were $366M in the first half of FY2020, slightly higher than $312M in the same period of FY2019. |
HON_20201030 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:------------------------------------------------------------------------------|:----------------------|:-----------|:------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | September 30, 2020 | | December 31, 2019 | | | | | | | | |
| | (Dollars in millions) | | | | | | | | | | |
| ASSETS | | | | | | | | | | | |
| Current assets: | | | | | | | | | | | |
| Cash and cash equivalents | $ | 14,036 | | | $ | 9,067 | | | | | |
| Short-term investments | 972 | | | 1,349 | | | | | | | |
| Accounts receivable - net | 6,878 | | | 7,493 | | | | | | | |
| Inventories | 4,705 | | | 4,421 | | | | | | | |
| Other current assets | 1,609 | | | 1,973 | | | | | | | |
| Total current assets | 28,200 | | | 24,303 | | | | | | | |
| Investments and long-term receivables | 673 | | | 588 | | | | | | | |
| Property, plant and equipment - net | 5,419 | | | 5,325 | | | | | | | |
| Goodwill | 15,666 | | | 15,563 | | | | | | | |
| Other intangible assets - net | 3,494 | | | 3,734 | | | | | | | |
| Insurance recoveries for asbestos related liabilities | 374 | | | 392 | | | | | | | |
| Deferred income taxes | 154 | | | 86 | | | | | | | |
| Other assets | 9,479 | | | 8,688 | | | | | | | |
| Total assets | $ | 63,459 | | | $ | 58,679 | | | | | |
| LIABILITIES | | | | | | | | | | | |
| Current liabilities: | | | | | | | | | | | |
| Accounts payable | $ | 5,270 | | | $ | 5,730 | | | | | |
| Commercial paper and other short-term borrowings | 3,550 | | | 3,516 | | | | | | | |
| Current maturities of long-term debt | 985 | | | 1,376 | | | | | | | |
| Accrued liabilities | 7,379 | | | 7,476 | | | | | | | |
| Total current liabilities | 17,184 | | | 18,098 | | | | | | | |
| Long-term debt | 17,687 | | | 11,110 | | | | | | | |
| Deferred income taxes | 1,474 | | | 1,670 | | | | | | | |
| Postretirement benefit obligations other than pensions | 309 | | | 326 | | | | | | | |
| Asbestos related liabilities | 1,845 | | | 1,996 | | | | | | | |
| Other liabilities | 6,640 | | | 6,766 | | | | | | | |
| Redeemable noncontrolling interest | 7 | | | 7 | | | | | | | |
| SHAREOWNERS’ EQUITY | | | | | | | | | | | |
| Capital - common stock issued | 958 | | | 958 | | | | | | | |
| - additional paid-in capital | 7,155 | | | 6,876 | | | | | | | |
| Common stock held in treasury, at cost | (25,806) | | | (23,836) | | | | | | | |
| Accumulated other comprehensive loss | (3,436) | | | (3,197) | | | | | | | |
| Retained earnings | 39,203 | | | 37,693 | | | | | | | |
| Total Honeywell shareowners’ equity | 18,074 | | | 18,494 | | | | | | | |
| Noncontrolling interest | 239 | | | 212 | | | | | | | |
| Total shareowners’ equity | 18,313 | | | 18,706 | | | | | | | |
| Total liabilities, redeemable noncontrolling interest and shareowners’ equity | $ | 63,459 | | | $ | 58,679 | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:------------------------------------------------------------------------------------------------------------|:--------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | Nine Months Ended September 30, | | | | | | | | | | |
| | 2020 | | 2019 | | | | | | | | |
| | (Dollars in millions) | | | | | | | | | | |
| Cash flows from operating activities: | | | | | | | | | | | |
| Net income | $ | 3,486 | | | $ | 4,640 | | | | | |
| Less: Net income attributable to the noncontrolling interest | 66 | | | 59 | | | | | | | |
| Net income attributable to Honeywell | 3,420 | | | 4,581 | | | | | | | |
| Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities: | | | | | | | | | | | |
| Depreciation | 480 | | | 500 | | | | | | | |
| Amortization | 268 | | | 319 | | | | | | | |
| | | | | | | | | | | | |
| Repositioning and other charges | 486 | | | 306 | | | | | | | |
| Net payments for repositioning and other charges | (652) | | | (157) | | | | | | | |
| Pension and other postretirement income | (633) | | | (484) | | | | | | | |
| Pension and other postretirement benefit payments | (37) | | | (50) | | | | | | | |
| Stock compensation expense | 118 | | | 112 | | | | | | | |
| Deferred income taxes | (289) | | | (298) | | | | | | | |
| Reimbursement receivables charge | 350 | | | — | | | | | | | |
| Other | (369) | | | 98 | | | | | | | |
| Changes in assets and liabilities, net of the effects of acquisitions and divestitures: | | | | | | | | | | | |
| Accounts receivable | 615 | | | (78) | | | | | | | |
| Inventories | (284) | | | (276) | | | | | | | |
| Other current assets | 246 | | | (68) | | | | | | | |
| Accounts payable | (460) | | | (89) | | | | | | | |
| Accrued liabilities | 167 | | | (133) | | | | | | | |
| Net cash provided by (used for) operating activities | 3,426 | | | 4,283 | | | | | | | |
| Cash flows from investing activities: | | | | | | | | | | | |
| Expenditures for property, plant and equipment | (615) | | | (504) | | | | | | | |
| Proceeds from disposals of property, plant and equipment | 17 | | | 41 | | | | | | | |
| Increase in investments | (2,371) | | | (3,218) | | | | | | | |
| Decrease in investments | 2,634 | | | 3,318 | | | | | | | |
| Receipts (payments) from settlements of derivative contracts | (75) | | | 245 | | | | | | | |
| Other | — | | | (4) | | | | | | | |
| Net cash provided by (used for) investing activities | (410) | | | (122) | | | | | | | |
| Cash flows from financing activities: | | | | | | | | | | | |
| Proceeds from issuance of commercial paper and other short-term borrowings | 8,577 | | | 10,292 | | | | | | | |
| Payments of commercial paper and other short-term borrowings | (8,512) | | | (10,293) | | | | | | | |
| Proceeds from issuance of common stock | 163 | | | 425 | | | | | | | |
| Proceeds from issuance of long-term debt | 10,105 | | | 2,725 | | | | | | | |
| Payments of long-term debt | (4,237) | | | (120) | | | | | | | |
| Repurchases of common stock | (2,149) | | | (3,650) | | | | | | | |
| Cash dividends paid | (1,921) | | | (1,798) | | | | | | | |
| Other | (54) | | | (72) | | | | | | | |
| Net cash provided by (used for) financing activities | 1,972 | | | (2,491) | | | | | | | |
| Effect of foreign exchange rate changes on cash and cash equivalents | (19) | | | (49) | | | | | | | |
| Net increase (decrease) in cash and cash equivalents | 4,969 | | | 1,621 | | | | | | | |
| Cash and cash equivalents at beginning of period | 9,067 | | | 9,287 | | | | | | | |
| Cash and cash equivalents at end of period | $ | 14,036 | | | $ | 10,908 | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 | Column 22 | Column 23 | Column 24 |
|:-------------------------------------------------------------|:------------------------------------------------|:-----------|:--------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | | | | |
| | Three Months Ended September 30, | | Nine Months Ended September 30, | | | | | | | | | | | | | | | | | | | | |
| | 2020 | | 2019 | | 2020 | | 2019 | | | | | | | | | | | | | | | | |
| | (Dollars in millions, except per share amounts) | | | | | | | | | | | | | | | | | | | | | | |
| Product sales | $ | 5,885 | | | $ | 6,793 | | | $ | 17,933 | | | $ | 20,496 | | | | | | | | | |
| Service sales | 1,912 | | | 2,293 | | | 5,804 | | | 6,717 | | | | | | | | | | | | | |
| Net sales | 7,797 | | | 9,086 | | | 23,737 | | | 27,213 | | | | | | | | | | | | | |
| Costs, expenses and other | | | | | | | | | | | | | | | | | | | | | | | |
| Cost of products sold | 4,315 | | | 4,775 | | | 12,852 | | | 14,244 | | | | | | | | | | | | | |
| Cost of services sold | 1,068 | | | 1,263 | | | 3,341 | | | 3,767 | | | | | | | | | | | | | |
| | 5,383 | | | 6,038 | | | 16,193 | | | 18,011 | | | | | | | | | | | | | |
| Selling, general and administrative expenses | 1,103 | | | 1,296 | | | 3,524 | | | 4,046 | | | | | | | | | | | | | |
| Other (income) expense | 62 | | | (311) | | | (546) | | | (901) | | | | | | | | | | | | | |
| Interest and other financial charges | 101 | | | 96 | | | 264 | | | 266 | | | | | | | | | | | | | |
| | 6,649 | | | 7,119 | | | 19,435 | | | 21,422 | | | | | | | | | | | | | |
| Income before taxes | 1,148 | | | 1,967 | | | 4,302 | | | 5,791 | | | | | | | | | | | | | |
| Tax expense (benefit) | 367 | | | 319 | | | 816 | | | 1,151 | | | | | | | | | | | | | |
| Net income | 781 | | | 1,648 | | | 3,486 | | | 4,640 | | | | | | | | | | | | | |
| Less: Net income attributable to the noncontrolling interest | 23 | | | 24 | | | 66 | | | 59 | | | | | | | | | | | | | |
| Net income attributable to Honeywell | $ | 758 | | | $ | 1,624 | | | $ | 3,420 | | | $ | 4,581 | | | | | | | | | |
| Earnings per share of common stock - basic | $ | 1.08 | | | $ | 2.26 | | | $ | 4.85 | | | $ | 6.33 | | | | | | | | | |
| Earnings per share of common stock - assuming dilution | $ | 1.07 | | | $ | 2.23 | | | $ | 4.81 | | | $ | 6.25 | | | | | | | | | |
---
English News:
"Honeywell Reports Third-Quarter EPS Of $1.07, Adjusted EPS Of $1.56; Generates Sequential Sales And Segment Profit Growth In All Segments - CHARLOTTE, N.C., Oct. 30, 2020 /PRNewswire/ -- Honeywell (NYSE: HON) today announced results for the third quarter of 2020, which improved sequentially versus the second quarter of 2020. The company reported a third-quarter year-over-year sales decline of 14% reported and organic, operating margin contraction of 250 basis points, and segment margin contraction of 130 basis points, with adjusted earnings per share2 of $1.56. \"I am pleased with the quarter-over-quarter improvements in sales growth, margin expansion and adjusted earnings per share that we delivered in the third quarter,\" said Darius Adamczyk, chairman and chief executive officer of Honeywell. \"We continued to focus on driving sales growth in areas that have not been as impacted by the current downturn, including defense and space, warehouse automation and personal protective equipment, all of which grew by double-digits organically year-over-year. Recurring software sales also grew double-digits organically, continuing our transformation to a premier software-industrial company. \"We also focused on aggressively managing cost, and delivered over $450 million in savings in the quarter, bringing our year-to-date total to $1.1 billion. We now expect to generate $1.5 billion to $1.6 billion of cost savings during 2020, up from our previous estimate of $1.4 billion to $1.6 billion,\" Adamczyk continued. \"Honeywell's balance sheet remains strong, with $15 billion of cash and short-term investments on hand, and we further enhanced our financial flexibility this quarter by issuing $3 billion of bonds at attractive rates and repaying in full the $3 billion term loan borrowed earlier this year. Capital deployment remains a focus for us. In the third quarter, we resumed opportunistic share repurchases and announced the 11th consecutive increase to our dividend. We also recently announced two acquisitions that will provide emerging technologies in our Aerospace business. I am confident we are well-positioned for the economic recovery.\" Adamczyk concluded, \"Last month we celebrated two significant milestones: Honeywell's 100th anniversary on the New York Stock Exchange and our return to the Dow Jones Industrial Average. Honeywell is a company that has weathered the toughest of times and emerged from them stronger than before. This crisis is no exception. We have moved very quickly to introduce new offerings to help people get back to the workplace, back to play, back to travel, and back to life, and I am pleased with the strong demand we are seeing for these solutions. We remain focused on cost management and execution, while also investing in new markets and new technologies that will shape the next 100 years for our customers, shareowners and employees.\" Honeywell expects fourth quarter sales of $8.2 billion to $8.5 billion, representing a year-over-year organic sales decline of 11% to 14%; segment margin of 21.1% to 21.3%, down 10 to 30 basis points; and earnings per share of $1.97 to $2.02, down 2% to 4% adjusted. Full-year sales are expected to be in the range of $31.9 billion to $32.2 billion, representing a year-over-year organic sales decline of 12% to 13%; segment margin of 20.4% to 20.5%, down 60 to 70 basis points; and adjusted earnings per share1 of $7.00 to $7.05, down 14%. A summary of the company's 2020 guidance can be found in Table 1. Adjusted EPS in the headline excludes the impact of a non-cash $350M pre-tax and after-tax charge associated with the reduction in carrying value to present value of reimbursement receivables due from Garrett in relation to Garrett's September 20, 2020 Chapter 11 bankruptcy filing Third-Quarter PerformanceHoneywellsales for the third quarter were down 14% on a reported and organic basis. The third-quarter financial results can be found in Tables 2 and 3. Aerospacesales for the third quarter were down 25% on an organic basis driven by lower commercial aftermarket demand due to the ongoing impact of reduced flight hours and lower volumes in commercial original equipment, partially offset by double-digit growth in Defense and Space. Segment margin contracted 240 basis points to 23.2% driven by lower volumes and sales mix. Honeywell Building Technologiessales for the third quarter were down 8% on an organic basis driven by lower demand for building products and delays in Building Solutions projects, partially offset by growth in the services verticals. Segment margin expanded 60 basis points to 21.6%. Margin performance was driven by commercial excellence and productivity actions. Performance Materials and Technologies sales for the third quarter were down 16% on an organic basis driven by delays in Process Solutions services and automation projects as well as volume declines in smart energy; lower gas processing projects, catalyst shipments, licensing, and engineering due to softness in the oil and gas sector in UOP; and lower fluorine products volumes in Advanced Materials, partially offset by packaging and composites growth. Segment margin contracted 220 basis points to 19.6% driven by the impact of lower sales volumes, partially offset by productivity actions. Safety and Productivity Solutionssales for the third quarter were up 8% on an organic basis driven by double-digit Intelligrated and personal protective equipment growth as well as a return to growth in productivity solutions and services, partially offset by lower gas sensing volumes. Orders were up double-digits year-over-year for the fourth straight quarter, driven by approximately 150% personal protective equipment orders growth, and backlog remained at a record high. Segment margin expanded 50 basis points to 13.9% driven by productivity actions and commercial excellence. Conference Call DetailsHoneywell will discuss its third-quarter results and fourth-quarter outlook during an investor conference call starting at 8:30 a.m. Eastern Daylight Time today. To participate on the conference call, please dial (866) 548-4713 (domestic) or (323) 794-2093 (international) approximately ten minutes before the 8:30 a.m. EDT start.Please mention to the operator that you are dialing in for Honeywell's third-quarter 2020 earnings call or provide the conference code HON3Q20. The live webcast of the investor call as well as related presentation materials will be available through the Investor Relations section of the company's website (www.honeywell.com/investor). Investors can hear a replay of the conference call from 12:30 p.m. EDT, October 30, until 12:30 p.m. EST, November 6, by dialing (888) 203-1112 (domestic) or (719) 457-0820 (international). The access code is 1772801. TABLE 1: 4Q AND FULL-YEAR 2020 GUIDANCE3 4Q Guidance FY Guidance Sales $8.2B - $8.5B $31.9B - $32.2B Organic Growth Down (14%) - (11%) Down (13%) - (12%) Segment Margin 21.1% - 21.3% 20.4% - 20.5% Expansion Down (30) - (10) bps Down (70) - (60) bps Earnings Per Share $1.97 - $2.02 $6.78 - $6.83 Adjusted Earnings Per Share1 $1.97 - $2.02 $7.00 - $7.05 Adjusted Earnings Growth1 Down (4%) - (2%) Down (14%) TABLE 2: SUMMARY OF HONEYWELL FINANCIAL RESULTS 3Q 2020 3Q 2019 Change Sales 7,797 9,086 (14%) Organic Growth (14%) Segment Margin 19.9% 21.2% -130 bps Operating Income Margin 16.8% 19.3% -250 bps Earnings Per Share $1.07 $2.23 (52%) Adjusted Earnings Per Share2 $1.56 $2.08 (25%) Cash Flow from Operations 1,007 1,471 (32%) Operating Cash Flow Conversion 133% 91% 42% Free Cash Flow 758 1,279 (41%) Adjusted Free Cash Flow4 758 1,286 (41%) Adjusted Free Cash Flow Conversion5 68% 85% (17%) TABLE 3: SUMMARY OF SEGMENT FINANCIAL RESULTS AEROSPACE 3Q 2020 3Q 2019 Change Sales 2,662 3,544 (25%) Organic Growth (25%) Segment Profit 617 908 (32%) Segment Margin 23.2% 25.6% -240 bps HONEYWELL BUILDING TECHNOLOGIES Sales 1,305 1,415 (8%) Organic Growth (8%) Segment Profit 282 297 (5%) Segment Margin 21.6% 21.0% 60 bps PERFORMANCE MATERIALS AND TECHNOLOGIES Sales 2,252 2,670 (16%) Organic Growth (16%) Segment Profit 442 582 (24%) Segment Margin 19.6% 21.8% -220 bps SAFETY AND PRODUCTIVITY SOLUTIONS Sales 1,578 1,457 8% Organic Growth 8% Segment Profit 219 195 12% Segment Margin 13.9% 13.4% 50 bps 1Adjusted EPS and adjusted EPS V% guidance exclude 4Q19 pension mark-to-market, adjustments to the charges taken in connection with the 4Q17 U.S. tax legislation charge, 2Q20 favorable resolution of a foreign tax matter related to the spin-off transactions, and the impact of a non-cash $350M pre-tax and after-tax charge associated with the reduction in carrying value to present value of reimbursement receivables due from Garrett in relation to Garrett's September 20, 2020 Chapter 11 bankruptcy filing 2Adjusted EPS and adjusted EPS V% exclude adjustments to the charges taken in connection with the 4Q17 U.S. tax legislation charge and the impact of a non-cash $350M pre-tax and after-tax charge associated with the reduction in carrying value to present value of reimbursement receivables due from Garrett in relation to Garrett's September 20, 2020 Chapter 11 bankruptcy filing 3As discussed in the notes to the attached reconciliations, we do not provide guidance for margin or EPS on a GAAP basis 4Adjusted free cash flow and adjusted free cash flow V% exclude impacts from separation costs related to the spin-offs of $7M in 3Q19 5Adjusted free cash flow conversion excludes impacts from separation costs related to the spin-offs of $7M in 3Q19, adjustments to the charges taken in connected with the 4Q17 U.S. tax legislation charge, and the impact of a non-cash $350M pre-tax and after-tax charge associated with the reduction in carrying value to present value of reimbursement receivables due from Garrett in relation to Garrett's September 20, 2020 Chapter 11 bankruptcy filing Honeywell (www.honeywell.com) is a Fortune 100 technology company that delivers industry specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help everything from aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom. This release contains certain statements that may be deemed \"forward-looking statements\" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, technological, and COVID-19 public health factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, and other developments, including the potential impact of the COVID-19 pandemic, and business decisions may differ from those envisaged by such forward-looking statements. Any forward-looking plans described herein are not final and may be modified or abandoned at any time. No final decision will be taken with respect to such plans or proposals without prior satisfaction of any applicable requirements with respect to informing, consulting or negotiating with employees or their representatives. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission. This release contains financial measures presented on a non-GAAP basis. Honeywell's non-GAAP financial measures used in this release are as follows: segment profit, on an overall Honeywell basis, a measure by which we assess operating performance, which we define as operating income adjusted for certain items as presented in the Appendix; segment margin, on an overall Honeywell basis, which we define as segment profit divided by sales; organic sales growth, which we define as sales growth less the impacts from foreign currency translation, and acquisitions and divestitures for the first 12 months following transaction date; free cash flow, which we define as cash flow from operations less capital expenditures; adjusted free cash flow, which we define as cash flow from operations less capital expenditures and which we adjust to exclude the impact of separation costs related to the spin-offs of Resideo and Garrett, if and as noted in the release; adjusted free cash flow conversion, which we define as adjusted free cash flow divided by net income attributable to Honeywell, excluding separation costs related to the spin-offs and the impact of a non-cash $350M pre-tax and after-tax charge associated with the reduction in carrying value to present value of reimbursement receivables due from Garrett in relation to Garrett's September 20, 2020 Chapter 11 bankruptcy filing, if and as noted in the release; and adjusted earnings per share, which we adjust to exclude pension mark-to-market, adjustments to the charges taken in connection with the 4Q17 U.S. tax legislation charge, the favorable resolution of a foreign tax matter related to the spin-off transactions, and the impact of a non-cash $350M pre-tax and after-tax charge associated with the reduction in carrying value to present value of reimbursement receivables due from Garrett in relation to Garrett's September 20, 2020 Chapter 11 bankruptcy filing, if and as noted in the release. Management believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. These metrics should be considered in addition to, and not as replacements for, the most comparable GAAP measure. Refer to the Appendix attached to this release for reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures. Honeywell International Inc. Consolidated Statement of Operations (Unaudited) (Dollars in millions, except per share amounts) Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Product sales $ 5,885 $ 6,793 $ 17,933 $ 20,496 Service sales 1,912 2,293 5,804 6,717 Net sales 7,797 9,086 23,737 27,213 Costs, expenses and other Cost of products sold (1) 4,315 4,775 12,852 14,244 Cost of services sold (1) 1,068 1,263 3,341 3,767 5,383 6,038 16,193 18,011 Selling, general and administrative expenses (1) 1,103 1,296 3,524 4,046 Other (income) expense 62 (311) (546) (901) Interest and other financial charges 101 96 264 266 6,649 7,119 19,435 21,422 Income before taxes 1,148 1,967 4,302 5,791 Tax expense (benefit) 367 319 816 1,151 Net income 781 1,648 3,486 4,640 Less: Net income attributable to the noncontrolling interest 23 24 66 59 Net income attributable to Honeywell $ 758 $ 1,624 $ 3,420 $ 4,581 Earnings per share of common stock - basic $ 1.08 $ 2.26 $ 4.85 $ 6.33 Earnings per share of common stock - assuming dilution $ 1.07 $ 2.23 $ 4.81 $ 6.25 Weighted average number of shares outstanding - basic 702.6 717.6 704.8 723.5 Weighted average number of shares outstanding - assuming dilution 709.6 726.7 711.6 732.8 (1) Cost of products and services sold and selling, general and administrative expenses include amounts for repositioning and other charges, the service cost component of pension and other postretirement (income) expense, and stock compensation expense. Honeywell International Inc. Segment Data (Unaudited) (Dollars in millions) Three Months Ended September 30, Nine Months Ended September 30, Net Sales 2020 2019 2020 2019 Aerospace $ 2,662 $ 3,544 $ 8,566 $ 10,393 Honeywell Building Technologies 1,305 1,415 3,763 4,254 Performance Materials and Technologies 2,252 2,670 6,867 7,977 Safety and Productivity Solutions 1,578 1,457 4,541 4,589 Total $ 7,797 $ 9,086 $ 23,737 $ 27,213 Reconciliation of Segment Profit to Income Before Taxes Three Months Ended September 30, Nine Months Ended September 30, Segment Profit 2020 2019 2020 2019 Aerospace $ 617 $ 908 $ 2,082 $ 2,653 Honeywell Building Technologies 282 297 794 868 Performance Materials and Technologies 442 582 1,373 1,790 Safety and Productivity Solutions 219 195 610 598 Corporate (7) (54) (73) (202) Total segment profit 1,553 1,928 4,786 5,707 Interest and other financial charges (101) (96) (264) (266) Stock compensation expense (1) (40) (37) (118) (112) Pension ongoing income (2) 197 150 593 449 Other postretirement income (2) 13 12 40 35 Repositioning and other charges (3,4) (144) (96) (486) (306) Other (5) (330) 106 (249) 284 Income before taxes $ 1,148 $ 1,967 $ 4,302 $ 5,791 (1) Amounts included in Selling, general and administrative expenses. (2) Amounts included in Cost of products and services sold and Selling, general and administrative expenses (service costs) and Other income/expense (non-service cost components). (3) Amounts included in Cost of products and services sold, Selling, general and administrative expenses, and Other income/expense. (4) Includes repositioning, asbestos, and environmental expenses. (5) Amounts include the other components of Other income/expense not included within other categories in this reconciliation. Equity income (loss) of affiliated companies is included in segment profit. Honeywell International Inc. Consolidated Balance Sheet (Unaudited) (Dollars in millions) September 30, 2020 December 31, 2019 ASSETS Current assets: Cash and cash equivalents $ 14,036 $ 9,067 Short-term investments 972 1,349 Accounts receivable - net 6,878 7,493 Inventories 4,705 4,421 Other current assets 1,609 1,973 Total current assets 28,200 24,303 Investments and long-term receivables 673 588 Property, plant and equipment - net 5,419 5,325 Goodwill 15,666 15,563 Other intangible assets - net 3,494 3,734 Insurance recoveries for asbestos related liabilities 374 392 Deferred income taxes 154 86 Other assets 9,479 8,688 Total assets $ 63,459 $ 58,679 LIABILITIES Current liabilities: Accounts payable $ 5,270 $ 5,730 Commercial paper and other short-term borrowings 3,550 3,516 Current maturities of long-term debt 985 1,376 Accrued liabilities 7,379 7,476 Total current liabilities 17,184 18,098 Long-term debt 17,687 11,110 Deferred income taxes 1,474 1,670 Postretirement benefit obligations other than pensions 309 326 Asbestos related liabilities 1,845 1,996 Other liabilities 6,640 6,766 Redeemable noncontrolling interest 7 7 Shareowners' equity 18,313 18,706 Total liabilities, redeemable noncontrolling interest and shareowners' equity $ 63,459 $ 58,679 Honeywell International Inc. Consolidated Statement of Cash Flows (Unaudited) (Dollars in millions) Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Cash flows from operating activities: Net income $ 781 $ 1,648 $ 3,486 $ 4,640 Less: Net income attributable to the noncontrolling interest 23 24 66 59 Net income attributable to Honeywell 758 1,624 3,420 4,581 Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities: Depreciation 166 165 480 500 Amortization 89 98 268 319 Repositioning and other charges 144 96 486 306 Net payments for repositioning and other charges (343) (72) (652) (157) Pension and other postretirement income (210) (162) (633) (484) Pension and other postretirement benefit payments (14) (5) (37) (50) Stock compensation expense 40 37 118 112 Deferred income taxes (12) (342) (289) (298) Reimbursement receivables charge 350 350 Other (84) 93 (369) 98 Changes in assets and liabilities, net of the effects of acquisitions and divestitures: Accounts receivable (161) (176) 615 (78) Inventories 47 (3) (284) (276) Other current assets 140 171 246 (68) Accounts payable (96) (81) (460) (89) Accrued liabilities 193 28 167 (133) Net cash provided by (used for) operating activities 1,007 1,471 3,426 4,283 Cash flows from investing activities: Expenditures for property, plant and equipment (249) (192) (615) (504) Proceeds from disposals of property, plant and equipment 10 31 17 41 Increase in investments (700) (944) (2,371) (3,218) Decrease in investments 1,045 1,155 2,634 3,318 Receipts (payments) from settlements of derivative contracts (158) 175 (75) 245 Other (4) (4) Net cash provided by (used for) investing activities (52) 221 (410) (122) Cash flows from financing activities: Proceeds from issuance of commercial paper and other short-term borrowings 1,412 3,178 8,577 10,292 Payments of commercial paper and other short-term borrowings (1,418) (3,178) (8,512) (10,293) Proceeds from issuance of common stock 66 47 163 425 Proceeds from issuance of long-term debt 3,004 2,696 10,105 2,725 Payments of long-term debt (3,019) (36) (4,237) (120) Repurchases of common stock (164) (1,000) (2,149) (3,650) Cash dividends paid (636) (595) (1,921) (1,798) Other (14) (40) (54) (72) Net cash provided by (used for) financing activities (769) 1,072 1,972 (2,491) Effect of foreign exchange rate changes on cash and cash equivalents 72 (81) (19) (49) Net increase (decrease) in cash and cash equivalents 258 2,683 4,969 1,621 Cash and cash equivalents at beginning of period 13,778 8,225 9,067 9,287 Cash and cash equivalents at end of period $ 14,036 $ 10,908 $ 14,036 $ 10,908 Honeywell International Inc. Reconciliation of Organic Sales % Change (Unaudited) Three Months Ended September 30, 2020 Honeywell Reported sales % change (14)% Less: Foreign currency translation % Less: Acquisitions, divestitures and other, net % Organic sales % change (14)% Aerospace Reported sales % change (25)% Less: Foreign currency translation % Less: Acquisitions, divestitures and other, net % Organic sales % change (25)% Honeywell Building Technologies Reported sales % change (8)% Less: Foreign currency translation % Less: Acquisitions, divestitures and other, net % Organic sales % change (8)% Performance Materials and Technologies Reported sales % change (16)% Less: Foreign currency translation % Less: Acquisitions, divestitures and other, net % Organic sales % change (16)% Safety and Productivity Solutions Reported sales % change 8% Less: Foreign currency translation % Less: Acquisitions, divestitures and other, net % Organic sales % change 8% We define organic sales percent as the year-over-year change in reported sales relative to the comparable period, excluding the impact on sales from foreign currency translation and acquisitions, net of divestitures. We believe this measure is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. A quantitative reconciliation of reported sales percent change to organic sales percent change has not been provided for forward-looking measures of organic sales percent change because management cannot reliably predict or estimate, without unreasonable effort, the fluctuations in global currency markets that impact foreign currency translation, nor is it reasonable for management to predict the timing, occurrence and impact of acquisition and divestiture transactions, all of which could significantly impact our reported sales percent change. Honeywell International Inc. Reconciliation of Segment Profit to Operating Income and Calculation of Segment Profit and Operating Income Margins (Unaudited) (Dollars in millions) Three Months Ended September 30, 2020 2019 Segment profit $ 1,553 $ 1,928 Stock compensation expense (1) (40) (37) Repositioning, Other (2,3) (161) (109) Pension and other postretirement service costs (4) (41) (30) Operating income $ 1,311 $ 1,752 Segment profit $ 1,553 $ 1,928 Net sales $ 7,797 $ 9,086 Segment profit margin % 19.9 % 21.2 % Operating income $ 1,311 $ 1,752 Net sales $ 7,797 $ 9,086 Operating income margin % 16.8 % 19.3 % (1) Included in Selling, general and administrative expenses. (2) Includes repositioning, asbestos, environmental expenses and equity income adjustment. (3) Included in Cost of products and services sold, Selling, general and administrative expenses and Other income/expense. (4) Included in Cost of products and services sold and Selling, general and administrative expenses. We define segment profit as operating income, excluding stock compensation expense, pension and other postretirement service costs, and repositioning and other charges. We believe these measures are useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. Honeywell International Inc. Reconciliation of Earnings per Share to Adjusted Earnings per Share (Unaudited) Three Months Ended September 30, Three Months Ended June 30, 2020 Three Months Ended December 31, 2019 Twelve Months Ended December 31, 2019 2020 2019 Earnings per share of common stock - assuming dilution (1) $ 1.07 $ 2.23 $ 1.53 $ 2.16 $ 8.41 Pension mark-to-market expense (2) 0.13 0.13 Separation-related tax adjustment (3) (0.27) Impacts from U.S. Tax Reform (0.15) (0.23) (0.38) Reimbursement receivable charge (4) $ 0.49 Adjusted earnings per share of common stock - assuming dilution $ 1.56 $ 2.08 $ 1.26 $ 2.06 $ 8.16 (1) For the three months ended September 30, 2020 and 2019, adjusted earnings per share utilizes weighted average shares of approximately 709.6 million and 726.7 million. For the three months ended June 30, 2020, adjusted earnings per share utilizes weighted average shares of approximately 708.1 million. For the three and twelve months ended December 31, 2019 adjusted earnings per share utilizes weighted average shares of approximately 722.6 million and 730.3. (2) Pension mark-to-market expense uses a blended tax rate of 24% for 2019. (3) For the three months ended June 30, 2020, separation-related tax adjustment of $186 million ($186 million net of tax) includes the favorable resolution of a foreign tax matter related to the spin-off transactions. (4) The impact due to a non-cash $350M pre-tax and after-tax charge associated with the reduction in carrying value to present value of reimbursement receivables due from Garrett in relation to Garrett's September 20, 2020 Chapter 11 bankruptcy filing. Honeywell International Inc. Reconciliation of Cash Provided by Operating Activities to Adjusted Free Cash Flow and Calculation of Adjusted Free Cash Flow Conversion (Unaudited) (Dollars in millions) Three Months Ended September 30, 2020 Three Months Ended September 30, 2019 Cash provided by operating activities $ 1,007 $ 1,471 Expenditures for property, plant and equipment (249) (192) Free cash flow 758 1,279 Separation cost payments 7 Adjusted free cash flow $ 758 $ 1,286 Net income attributable to Honeywell 758 1,624 Impacts from U.S. Tax Reform (114) Reimbursement receivable charge (1) 350 Adjusted net income attributable to Honeywell $ 1,108 $ 1,510 Cash provided by operating activities $ 1,007 $ 1,471 Net income (loss) attributable to Honeywell $ 758 $ 1,624 Operating cash flow conversion 133 % 91 % Adjusted free cash flow $ 758 $ 1,286 Adjusted net income attributable to Honeywell $ 1,108 $ 1,510 Adjusted free cash flow conversion % 68 % 85 % (1) A non-cash $350M pre-tax and after-tax charge associated with the reduction in carrying value to present value of reimbursement receivables due from Garrett in relation to Garrett's September 20, 2020 Chapter 11 bankruptcy filing. We define free cash flow as cash provided by operating activities less cash expenditures for property, plant and equipment. We believe that this metric is useful to investors and management as a measure of cash generated by business operations that will be used to repay scheduled debt maturities and can be used to invest in future growth through new business development activities or acquisitions, pay dividends, repurchase stock or repay debt obligations prior to their maturities. This metric can also be used to evaluate our ability to generate cash flow from business operations and the impact that this cash flow has on our liquidity. Honeywell International Inc. Reconciliation of Segment Profit to Operating Income and Calculation of Segment Profit and Operating Income Margins (Unaudited) (Dollars in millions) Three Months Ended December 31, 2019 Twelve Months Ended December 31, 2019 Three Months Ended June 30, 2020 Segment profit $ 2,032 $ 7,739 $ 1,385 Stock compensation expense (1) (41) (153) (34) Repositioning, Other (2,3) (259) (598) (295) Pension and other postretirement service costs (4) (37) (137) (38) Operating income $ 1,695 $ 6,851 $ 1,018 Segment profit $ 2,032 $ 7,739 $ 1,385 Net sales $ 9,496 $ 36,709 $ 7,477 Segment profit margin % 21.4 % 21.1 % 18.5 % Operating income $ 1,695 $ 6,851 $ 1,018 Net sales $ 9,496 $ 36,709 $ 7,477 Operating income margin % 17.8 % 18.7 % 13.6 % (1) Included in Selling, general and administrative expenses. (2) Includes repositioning, asbestos, environmental expenses and equity income adjustment. (3) Included in Cost of products and services sold, Selling, general and administrative expenses and Other income/expense. (4) Included in Cost of products and services sold and Selling, general and administrative expenses. We define segment profit as operating income, excluding stock compensation expense, pension and other postretirement service costs, and repositioning and other charges. We believe these measures are useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. A quantitative reconciliation of segment profit, on an overall Honeywell basis, to operating income has not been provided for all forward-looking measures of segment profit and segment margin included herewithin. Management cannot reliably predict or estimate, without unreasonable effort, the impact and timing on future operating results arising from items excluded from segment profit, particularly pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. The information that is unavailable to provide a quantitative reconciliation could have a significant impact on our reported financial results. To the extent quantitative information becomes available without unreasonable effort in the future, and closer to the period to which the forward-looking measures pertain, a reconciliation of segment profit to operating income will be included within future filings. Honeywell International Inc. Reconciliation of Expected Earnings per Share to Adjusted Earnings per Share (Unaudited) Three Months EndedDecember 31, 2020 (E) Twelve Months Ended December 31, 2020 (E) Earnings per share of common stock - assuming dilution (1) $1.97 - $2.02 $6.78 - $6.83 Pension mark-to-market expense Separation-related tax adjustment (2) (0.27) Reimbursement receivable charge (3) 0.49 Adjusted earnings per share of common stock - assuming dilution $1.97 - $2.02 $7.00 - $7.05 (1) For the three and twelve months ended December 31, 2020, expected adjusted earnings per share utilizes weighted average shares of approximately 710 million and 711 million. (2) For the twelve months ended December 31, 2020, separation-related tax adjustment of $186 million ($186 million net of tax) includes the favorable resolution of a foreign tax matter related to the spin-off transactions. (3) The impact due to a non-cash $350M pre-tax and after-tax charge associated with the reduction in carrying value to present value of reimbursement receivables due from Garrett in relation to Garrett's September 20, 2020 Chapter 11 bankruptcy filing. We believe adjusted earnings per share, is a measure that is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. For forward looking information, management cannot reliably predict or estimate, without unreasonable effort, the pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. We therefore do not include an estimate for the pension mark-to-market expense. Based on economic and industry conditions,
Chinese News:
进博会为东西方企业齐聚一堂、展示各自创新成果和交流经验提供了契机，有助于建立更多的联系，是个绝佳的平台。” 美国霍尼韦尔公司全球高增长地区总裁沈达理近日在接受记者专访时说。沈达理说，今年的进博会霍尼韦尔带来了涵盖安全保障、能源效率等多个领域的创新技术和产品。“我们非常支持进博会，因为它是彰显中国经济动能的重要部分。”他说。霍尼韦尔是第一批参加首届进博会的跨国公司，2019年第二届进博会上，霍尼韦尔的展位面积比2018年扩大了三倍。霍尼韦尔在过去两届进博会上展示了多项智能互联、节能环保和安全防护创新技术，同时与中国企业签署了合作协议，涉及互联工厂、智慧建筑、智慧医疗、飞机维修等，携手客户共创互联、安全和可持续的美好未来。沈达理表示，中国是目前唯一呈现稳步复苏态势的主要经济体。经济转入正轨，需要“人们有信心走出去参与经济活动”，中国在谨慎应对疫情、注入社会信心等方面，“处理得很稳妥”。作为最早进入中国的美资企业之一，霍尼韦尔向来重视中国市场，看好其发展前景。沈达理说，跨国公司需要关注全球趋势，其投资、战略布局、产品和服务都要反映全球增长的现实，“我们的核心战略是与中国一起动态发展，真正成为中国本土企业。”沈达理认为，中国不单单是个进口或出口市场，也是重要的生产制造和创新之地，所以我们力求在中国市场拥有一席之地，以更好地抓住中国本土市场活力所带来的巨大机遇。“早在15、16年前，我们就意识到中国不仅是一个庞大的市场，也是一个充满活力的全球经济体，作为真正意义上的全球跨国公司，我们需充分参与中国的动态增长。”他说。在中国，霍尼韦尔长期以创新来推动增长，贯彻“东方服务于东方”和“东方服务于全球”的战略。目前，霍尼韦尔四大业务集团均已落户中国，在中国30多个城市拥有50多家独资公司和合资企业.
Japanese News:
ハネウェル・インターナショナル［HON］決算：1株利益は2.58ドルで市場予想を上回る ハネウェル・インターナショナルは、旧式のサーモスタット装置を製造し、1885年にアルバート・バッツによって創設されたButz－Thermo Electric Regulatorを前身とする。他の発明には、生分解性洗剤や自動操縦などがある。現在は、世界的に多様な産業へと対応する巨大企業であり、最大規模の設備のインストールベースを有する1社である。エアロスペース・テクノロジーズ（2023年の会社収益の37％）、インダストリアル・オートメーション（同29％）、エネルギーおよび持続可能性ソリューション（同17％）、ビルディング・オートメーション（同17％）の4つの事業部門で事業を展開している。より少数の最終市場に焦点を当て、一連の長期的な成長トレンドに合わせていくつかのポートフォリオ変更を行っている。インストールベースの拡大に熱心に取り組んでおり、収益の30％を定期的なアフターマーケットサービスから得ている。
Spanish News:
Wall Street abrió con retrocesos generalizados este viernes y su principal indicador, el Dow Jones de Industriales, bajaba un 0,33 %, apuntalando lo que parece que cerrará como la peor semana en las operaciones bursátiles de Nueva York desde mediados de marzo, cuando comenzó a extenderse la pandemia en Europa y Estados Unidos. Al inicio de las operaciones a las 9.30 (13.30 GMT) en la Bolsa de Nueva York, el Dow Jones bajaba 86,84 puntos, hasta 26.572,27 unidades, con Apple (-3,64 %) liderando las caídas de los 30 grandes valores del parqué, mientras que le seguían Honeywell (-0,85%) y Caterpillar (-0,84%). El selectivo S&P 500, por su parte, perdía un 0,51 % o 16,99 puntos, hasta 3.293,12 unidades; y el índice compuesto Nasdaq, en el que cotizan las principales tecnológicas, sufría la mayor caída con un retroceso del 0,75 %, equivalente a 96.52 puntos, hasta los 11.089,07 enteros. Los sectores que caían con más fuerza en los primeros compases de la jornada eran los de bienes no esenciales (-1,20 %), el tecnológico (-1,19 %) y el energético (-0,58 %), mientras que solo los de comunicaciones (1,43%) y el de salud (0,23%) se mantenían en positivo. En lo que va de semana el Dow Jones ha perdido cerca de un 6 %, con lo que podría cerrar esta semana negra como la peor desde el 20 de marzo, lo que pone de relieve la percepción de los inversores sobre el impacto de la segunda ola de covid-19 en el mundo a las puertas del invierno boreal. La volatilidad está a niveles máximos desde junio, por las incertidumbre sobre el avance de la pandemia en Europa y Estados Unidos y la inminencia de las elecciones generales en el país norteamericano que podrían ver un cambio en la Casa Blanca a favor del demócrata Joe Biden frente al presidente Donald Trump. "Las políticas de estímulo, los desarrollos médicos positivos y las esperanzas en el retorno a los niveles de actividad económica pre-pandemia han provisto mejoras en los mercados de activos. No obstante, las nuevas restricciones económicas, especialmente en Europa, pese a que eran predecibles llamaron la atención de los inversores esta semana, contribuyendo a las fuertes pérdidas", resumió la firma de análisis de mercados MRB Partners en una nota. En otros mercados, el petróleo de Texas caía media hora después de iniciarse las cotizaciones un 1,35 %, a 35,68 dólares el barril; el oro ascendía a 1.887,40 dólares la onza; el rendimiento del bono del Tesoro a 10 años subía a 0,839 % y el dólar perdía terreno frente al euro, con un cambio de 1,1684.
Greek News:
Η εταιρία Honeywell, γνωστή κυρίως ως κολοσσός στον βιομηχανικό και τεχνολογικό τομέα, επεκτείνει τη παρουσία της στην αναδυόμενη αγορά του Quantum Computing. Παρουσιάζοντας το νέο της σύστημα Μοδελ Η1, η εταιρία αξιοποεί την τεχνολογία των παγιδευμένων ιόντων, προσφέροντας 10 πλήρως συνδεδεμένα qubits, και επιτυγχάνει Quantum Volume 128. Το H1 θα είναι διαθέσιμο μέσω της πλατφόρμας Azure Quantum, με τη στήριξη εταιριών όπως η Zapata Computing και η Cambridge Quantum Computing. Παρά του φιλόδοξου ισχυρισμού της εταιρίας IonQ για υλοποίηση αντίστοιχου έργου με Quantum Volume τουλάχιστον 4.000.000, η Honeywell υπερβαίνει τους ανταγωνιστές της, όπως την IBM, δίνοντας έμφαση στην ποιότητα και σταθερότητα των qubits της. Η εταιρία αποδίδει την τεχνολογική της πρόοδο στην πολυετή εμπειρία της στα συστήματα ελέγχου, εμπειρία η οποία επέτρεψε τη δημιουργία μιας ιδιαίτερα σταθερής παγίδας ιόντως, ενισχύοντας τη δυνατότητα διόρθωσης σφαλμάτων. Ωστόσο, στο οικονομικό μέτωπο, τα αποτελέσματα του τρίτου τριμήνου του 2020 καταγράφουν πτώση. Η Honeywell ανακοίνωσε καθαρό εισόδημα ύψους 781 εκατομμυρίων δολαρίων για την περίοδο που έληξε στις 30 Σεπτεμβρίου, σημαντικά μειωμένο σε σχέση με τα 1,648 δισεκατομμύρια δολάρια του αντίστοιχου τριμήνου το 2019. Η εξέλιξη αυτή αντικατοπτρίζει τις προκλήσεις που αντιμετωπίζει η εταιρεία στο ευρύτερο οικονομικό περιβάλλον, ακόμη και καθώς επενδύει σε τεχνολογίες αιχμής.
Question:
Please list the top three focuses on revenue from news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | Please list the top three focuses on revenue from news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: 1. Aerospace: Largest revenue segment, but suffered a 25% organic decline due to reduced commercial flight activity. 2. Safety and Productivity Solutions: Grew 8% organically, driven by strong demand for PPE and warehouse automation (Intelligrated). 3. Performance Materials and Technologies: Declined 16% due to softness in oil and gas, but some offset from packaging and composites.
Financial Statement Evidence: In Q3 FY2020, Honeywell generated $7.8B in total revenue, consisting of $5.9B from product sales and $1.9B from service sales. In Q3 FY2019, the revenue was $9.1B, with $6.8B in product sales and $2.3B in service sales. Both segments revenue reduced. |
HON_20201030 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:------------------------------------------------------------------------------|:----------------------|:-----------|:------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | September 30, 2020 | | December 31, 2019 | | | | | | | | |
| | (Dollars in millions) | | | | | | | | | | |
| ASSETS | | | | | | | | | | | |
| Current assets: | | | | | | | | | | | |
| Cash and cash equivalents | $ | 14,036 | | | $ | 9,067 | | | | | |
| Short-term investments | 972 | | | 1,349 | | | | | | | |
| Accounts receivable - net | 6,878 | | | 7,493 | | | | | | | |
| Inventories | 4,705 | | | 4,421 | | | | | | | |
| Other current assets | 1,609 | | | 1,973 | | | | | | | |
| Total current assets | 28,200 | | | 24,303 | | | | | | | |
| Investments and long-term receivables | 673 | | | 588 | | | | | | | |
| Property, plant and equipment - net | 5,419 | | | 5,325 | | | | | | | |
| Goodwill | 15,666 | | | 15,563 | | | | | | | |
| Other intangible assets - net | 3,494 | | | 3,734 | | | | | | | |
| Insurance recoveries for asbestos related liabilities | 374 | | | 392 | | | | | | | |
| Deferred income taxes | 154 | | | 86 | | | | | | | |
| Other assets | 9,479 | | | 8,688 | | | | | | | |
| Total assets | $ | 63,459 | | | $ | 58,679 | | | | | |
| LIABILITIES | | | | | | | | | | | |
| Current liabilities: | | | | | | | | | | | |
| Accounts payable | $ | 5,270 | | | $ | 5,730 | | | | | |
| Commercial paper and other short-term borrowings | 3,550 | | | 3,516 | | | | | | | |
| Current maturities of long-term debt | 985 | | | 1,376 | | | | | | | |
| Accrued liabilities | 7,379 | | | 7,476 | | | | | | | |
| Total current liabilities | 17,184 | | | 18,098 | | | | | | | |
| Long-term debt | 17,687 | | | 11,110 | | | | | | | |
| Deferred income taxes | 1,474 | | | 1,670 | | | | | | | |
| Postretirement benefit obligations other than pensions | 309 | | | 326 | | | | | | | |
| Asbestos related liabilities | 1,845 | | | 1,996 | | | | | | | |
| Other liabilities | 6,640 | | | 6,766 | | | | | | | |
| Redeemable noncontrolling interest | 7 | | | 7 | | | | | | | |
| SHAREOWNERS’ EQUITY | | | | | | | | | | | |
| Capital - common stock issued | 958 | | | 958 | | | | | | | |
| - additional paid-in capital | 7,155 | | | 6,876 | | | | | | | |
| Common stock held in treasury, at cost | (25,806) | | | (23,836) | | | | | | | |
| Accumulated other comprehensive loss | (3,436) | | | (3,197) | | | | | | | |
| Retained earnings | 39,203 | | | 37,693 | | | | | | | |
| Total Honeywell shareowners’ equity | 18,074 | | | 18,494 | | | | | | | |
| Noncontrolling interest | 239 | | | 212 | | | | | | | |
| Total shareowners’ equity | 18,313 | | | 18,706 | | | | | | | |
| Total liabilities, redeemable noncontrolling interest and shareowners’ equity | $ | 63,459 | | | $ | 58,679 | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:------------------------------------------------------------------------------------------------------------|:--------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | Nine Months Ended September 30, | | | | | | | | | | |
| | 2020 | | 2019 | | | | | | | | |
| | (Dollars in millions) | | | | | | | | | | |
| Cash flows from operating activities: | | | | | | | | | | | |
| Net income | $ | 3,486 | | | $ | 4,640 | | | | | |
| Less: Net income attributable to the noncontrolling interest | 66 | | | 59 | | | | | | | |
| Net income attributable to Honeywell | 3,420 | | | 4,581 | | | | | | | |
| Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities: | | | | | | | | | | | |
| Depreciation | 480 | | | 500 | | | | | | | |
| Amortization | 268 | | | 319 | | | | | | | |
| | | | | | | | | | | | |
| Repositioning and other charges | 486 | | | 306 | | | | | | | |
| Net payments for repositioning and other charges | (652) | | | (157) | | | | | | | |
| Pension and other postretirement income | (633) | | | (484) | | | | | | | |
| Pension and other postretirement benefit payments | (37) | | | (50) | | | | | | | |
| Stock compensation expense | 118 | | | 112 | | | | | | | |
| Deferred income taxes | (289) | | | (298) | | | | | | | |
| Reimbursement receivables charge | 350 | | | — | | | | | | | |
| Other | (369) | | | 98 | | | | | | | |
| Changes in assets and liabilities, net of the effects of acquisitions and divestitures: | | | | | | | | | | | |
| Accounts receivable | 615 | | | (78) | | | | | | | |
| Inventories | (284) | | | (276) | | | | | | | |
| Other current assets | 246 | | | (68) | | | | | | | |
| Accounts payable | (460) | | | (89) | | | | | | | |
| Accrued liabilities | 167 | | | (133) | | | | | | | |
| Net cash provided by (used for) operating activities | 3,426 | | | 4,283 | | | | | | | |
| Cash flows from investing activities: | | | | | | | | | | | |
| Expenditures for property, plant and equipment | (615) | | | (504) | | | | | | | |
| Proceeds from disposals of property, plant and equipment | 17 | | | 41 | | | | | | | |
| Increase in investments | (2,371) | | | (3,218) | | | | | | | |
| Decrease in investments | 2,634 | | | 3,318 | | | | | | | |
| Receipts (payments) from settlements of derivative contracts | (75) | | | 245 | | | | | | | |
| Other | — | | | (4) | | | | | | | |
| Net cash provided by (used for) investing activities | (410) | | | (122) | | | | | | | |
| Cash flows from financing activities: | | | | | | | | | | | |
| Proceeds from issuance of commercial paper and other short-term borrowings | 8,577 | | | 10,292 | | | | | | | |
| Payments of commercial paper and other short-term borrowings | (8,512) | | | (10,293) | | | | | | | |
| Proceeds from issuance of common stock | 163 | | | 425 | | | | | | | |
| Proceeds from issuance of long-term debt | 10,105 | | | 2,725 | | | | | | | |
| Payments of long-term debt | (4,237) | | | (120) | | | | | | | |
| Repurchases of common stock | (2,149) | | | (3,650) | | | | | | | |
| Cash dividends paid | (1,921) | | | (1,798) | | | | | | | |
| Other | (54) | | | (72) | | | | | | | |
| Net cash provided by (used for) financing activities | 1,972 | | | (2,491) | | | | | | | |
| Effect of foreign exchange rate changes on cash and cash equivalents | (19) | | | (49) | | | | | | | |
| Net increase (decrease) in cash and cash equivalents | 4,969 | | | 1,621 | | | | | | | |
| Cash and cash equivalents at beginning of period | 9,067 | | | 9,287 | | | | | | | |
| Cash and cash equivalents at end of period | $ | 14,036 | | | $ | 10,908 | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 | Column 22 | Column 23 | Column 24 |
|:-------------------------------------------------------------|:------------------------------------------------|:-----------|:--------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | | | | |
| | Three Months Ended September 30, | | Nine Months Ended September 30, | | | | | | | | | | | | | | | | | | | | |
| | 2020 | | 2019 | | 2020 | | 2019 | | | | | | | | | | | | | | | | |
| | (Dollars in millions, except per share amounts) | | | | | | | | | | | | | | | | | | | | | | |
| Product sales | $ | 5,885 | | | $ | 6,793 | | | $ | 17,933 | | | $ | 20,496 | | | | | | | | | |
| Service sales | 1,912 | | | 2,293 | | | 5,804 | | | 6,717 | | | | | | | | | | | | | |
| Net sales | 7,797 | | | 9,086 | | | 23,737 | | | 27,213 | | | | | | | | | | | | | |
| Costs, expenses and other | | | | | | | | | | | | | | | | | | | | | | | |
| Cost of products sold | 4,315 | | | 4,775 | | | 12,852 | | | 14,244 | | | | | | | | | | | | | |
| Cost of services sold | 1,068 | | | 1,263 | | | 3,341 | | | 3,767 | | | | | | | | | | | | | |
| | 5,383 | | | 6,038 | | | 16,193 | | | 18,011 | | | | | | | | | | | | | |
| Selling, general and administrative expenses | 1,103 | | | 1,296 | | | 3,524 | | | 4,046 | | | | | | | | | | | | | |
| Other (income) expense | 62 | | | (311) | | | (546) | | | (901) | | | | | | | | | | | | | |
| Interest and other financial charges | 101 | | | 96 | | | 264 | | | 266 | | | | | | | | | | | | | |
| | 6,649 | | | 7,119 | | | 19,435 | | | 21,422 | | | | | | | | | | | | | |
| Income before taxes | 1,148 | | | 1,967 | | | 4,302 | | | 5,791 | | | | | | | | | | | | | |
| Tax expense (benefit) | 367 | | | 319 | | | 816 | | | 1,151 | | | | | | | | | | | | | |
| Net income | 781 | | | 1,648 | | | 3,486 | | | 4,640 | | | | | | | | | | | | | |
| Less: Net income attributable to the noncontrolling interest | 23 | | | 24 | | | 66 | | | 59 | | | | | | | | | | | | | |
| Net income attributable to Honeywell | $ | 758 | | | $ | 1,624 | | | $ | 3,420 | | | $ | 4,581 | | | | | | | | | |
| Earnings per share of common stock - basic | $ | 1.08 | | | $ | 2.26 | | | $ | 4.85 | | | $ | 6.33 | | | | | | | | | |
| Earnings per share of common stock - assuming dilution | $ | 1.07 | | | $ | 2.23 | | | $ | 4.81 | | | $ | 6.25 | | | | | | | | | |
---
English News:
"Honeywell Reports Third-Quarter EPS Of $1.07, Adjusted EPS Of $1.56; Generates Sequential Sales And Segment Profit Growth In All Segments - CHARLOTTE, N.C., Oct. 30, 2020 /PRNewswire/ -- Honeywell (NYSE: HON) today announced results for the third quarter of 2020, which improved sequentially versus the second quarter of 2020. The company reported a third-quarter year-over-year sales decline of 14% reported and organic, operating margin contraction of 250 basis points, and segment margin contraction of 130 basis points, with adjusted earnings per share2 of $1.56. \"I am pleased with the quarter-over-quarter improvements in sales growth, margin expansion and adjusted earnings per share that we delivered in the third quarter,\" said Darius Adamczyk, chairman and chief executive officer of Honeywell. \"We continued to focus on driving sales growth in areas that have not been as impacted by the current downturn, including defense and space, warehouse automation and personal protective equipment, all of which grew by double-digits organically year-over-year. Recurring software sales also grew double-digits organically, continuing our transformation to a premier software-industrial company. \"We also focused on aggressively managing cost, and delivered over $450 million in savings in the quarter, bringing our year-to-date total to $1.1 billion. We now expect to generate $1.5 billion to $1.6 billion of cost savings during 2020, up from our previous estimate of $1.4 billion to $1.6 billion,\" Adamczyk continued. \"Honeywell's balance sheet remains strong, with $15 billion of cash and short-term investments on hand, and we further enhanced our financial flexibility this quarter by issuing $3 billion of bonds at attractive rates and repaying in full the $3 billion term loan borrowed earlier this year. Capital deployment remains a focus for us. In the third quarter, we resumed opportunistic share repurchases and announced the 11th consecutive increase to our dividend. We also recently announced two acquisitions that will provide emerging technologies in our Aerospace business. I am confident we are well-positioned for the economic recovery.\" Adamczyk concluded, \"Last month we celebrated two significant milestones: Honeywell's 100th anniversary on the New York Stock Exchange and our return to the Dow Jones Industrial Average. Honeywell is a company that has weathered the toughest of times and emerged from them stronger than before. This crisis is no exception. We have moved very quickly to introduce new offerings to help people get back to the workplace, back to play, back to travel, and back to life, and I am pleased with the strong demand we are seeing for these solutions. We remain focused on cost management and execution, while also investing in new markets and new technologies that will shape the next 100 years for our customers, shareowners and employees.\" Honeywell expects fourth quarter sales of $8.2 billion to $8.5 billion, representing a year-over-year organic sales decline of 11% to 14%; segment margin of 21.1% to 21.3%, down 10 to 30 basis points; and earnings per share of $1.97 to $2.02, down 2% to 4% adjusted. Full-year sales are expected to be in the range of $31.9 billion to $32.2 billion, representing a year-over-year organic sales decline of 12% to 13%; segment margin of 20.4% to 20.5%, down 60 to 70 basis points; and adjusted earnings per share1 of $7.00 to $7.05, down 14%. A summary of the company's 2020 guidance can be found in Table 1. Adjusted EPS in the headline excludes the impact of a non-cash $350M pre-tax and after-tax charge associated with the reduction in carrying value to present value of reimbursement receivables due from Garrett in relation to Garrett's September 20, 2020 Chapter 11 bankruptcy filing Third-Quarter PerformanceHoneywellsales for the third quarter were down 14% on a reported and organic basis. The third-quarter financial results can be found in Tables 2 and 3. Aerospacesales for the third quarter were down 25% on an organic basis driven by lower commercial aftermarket demand due to the ongoing impact of reduced flight hours and lower volumes in commercial original equipment, partially offset by double-digit growth in Defense and Space. Segment margin contracted 240 basis points to 23.2% driven by lower volumes and sales mix. Honeywell Building Technologiessales for the third quarter were down 8% on an organic basis driven by lower demand for building products and delays in Building Solutions projects, partially offset by growth in the services verticals. Segment margin expanded 60 basis points to 21.6%. Margin performance was driven by commercial excellence and productivity actions. Performance Materials and Technologies sales for the third quarter were down 16% on an organic basis driven by delays in Process Solutions services and automation projects as well as volume declines in smart energy; lower gas processing projects, catalyst shipments, licensing, and engineering due to softness in the oil and gas sector in UOP; and lower fluorine products volumes in Advanced Materials, partially offset by packaging and composites growth. Segment margin contracted 220 basis points to 19.6% driven by the impact of lower sales volumes, partially offset by productivity actions. Safety and Productivity Solutionssales for the third quarter were up 8% on an organic basis driven by double-digit Intelligrated and personal protective equipment growth as well as a return to growth in productivity solutions and services, partially offset by lower gas sensing volumes. Orders were up double-digits year-over-year for the fourth straight quarter, driven by approximately 150% personal protective equipment orders growth, and backlog remained at a record high. Segment margin expanded 50 basis points to 13.9% driven by productivity actions and commercial excellence. Conference Call DetailsHoneywell will discuss its third-quarter results and fourth-quarter outlook during an investor conference call starting at 8:30 a.m. Eastern Daylight Time today. To participate on the conference call, please dial (866) 548-4713 (domestic) or (323) 794-2093 (international) approximately ten minutes before the 8:30 a.m. EDT start.Please mention to the operator that you are dialing in for Honeywell's third-quarter 2020 earnings call or provide the conference code HON3Q20. The live webcast of the investor call as well as related presentation materials will be available through the Investor Relations section of the company's website (www.honeywell.com/investor). Investors can hear a replay of the conference call from 12:30 p.m. EDT, October 30, until 12:30 p.m. EST, November 6, by dialing (888) 203-1112 (domestic) or (719) 457-0820 (international). The access code is 1772801. TABLE 1: 4Q AND FULL-YEAR 2020 GUIDANCE3 4Q Guidance FY Guidance Sales $8.2B - $8.5B $31.9B - $32.2B Organic Growth Down (14%) - (11%) Down (13%) - (12%) Segment Margin 21.1% - 21.3% 20.4% - 20.5% Expansion Down (30) - (10) bps Down (70) - (60) bps Earnings Per Share $1.97 - $2.02 $6.78 - $6.83 Adjusted Earnings Per Share1 $1.97 - $2.02 $7.00 - $7.05 Adjusted Earnings Growth1 Down (4%) - (2%) Down (14%) TABLE 2: SUMMARY OF HONEYWELL FINANCIAL RESULTS 3Q 2020 3Q 2019 Change Sales 7,797 9,086 (14%) Organic Growth (14%) Segment Margin 19.9% 21.2% -130 bps Operating Income Margin 16.8% 19.3% -250 bps Earnings Per Share $1.07 $2.23 (52%) Adjusted Earnings Per Share2 $1.56 $2.08 (25%) Cash Flow from Operations 1,007 1,471 (32%) Operating Cash Flow Conversion 133% 91% 42% Free Cash Flow 758 1,279 (41%) Adjusted Free Cash Flow4 758 1,286 (41%) Adjusted Free Cash Flow Conversion5 68% 85% (17%) TABLE 3: SUMMARY OF SEGMENT FINANCIAL RESULTS AEROSPACE 3Q 2020 3Q 2019 Change Sales 2,662 3,544 (25%) Organic Growth (25%) Segment Profit 617 908 (32%) Segment Margin 23.2% 25.6% -240 bps HONEYWELL BUILDING TECHNOLOGIES Sales 1,305 1,415 (8%) Organic Growth (8%) Segment Profit 282 297 (5%) Segment Margin 21.6% 21.0% 60 bps PERFORMANCE MATERIALS AND TECHNOLOGIES Sales 2,252 2,670 (16%) Organic Growth (16%) Segment Profit 442 582 (24%) Segment Margin 19.6% 21.8% -220 bps SAFETY AND PRODUCTIVITY SOLUTIONS Sales 1,578 1,457 8% Organic Growth 8% Segment Profit 219 195 12% Segment Margin 13.9% 13.4% 50 bps 1Adjusted EPS and adjusted EPS V% guidance exclude 4Q19 pension mark-to-market, adjustments to the charges taken in connection with the 4Q17 U.S. tax legislation charge, 2Q20 favorable resolution of a foreign tax matter related to the spin-off transactions, and the impact of a non-cash $350M pre-tax and after-tax charge associated with the reduction in carrying value to present value of reimbursement receivables due from Garrett in relation to Garrett's September 20, 2020 Chapter 11 bankruptcy filing 2Adjusted EPS and adjusted EPS V% exclude adjustments to the charges taken in connection with the 4Q17 U.S. tax legislation charge and the impact of a non-cash $350M pre-tax and after-tax charge associated with the reduction in carrying value to present value of reimbursement receivables due from Garrett in relation to Garrett's September 20, 2020 Chapter 11 bankruptcy filing 3As discussed in the notes to the attached reconciliations, we do not provide guidance for margin or EPS on a GAAP basis 4Adjusted free cash flow and adjusted free cash flow V% exclude impacts from separation costs related to the spin-offs of $7M in 3Q19 5Adjusted free cash flow conversion excludes impacts from separation costs related to the spin-offs of $7M in 3Q19, adjustments to the charges taken in connected with the 4Q17 U.S. tax legislation charge, and the impact of a non-cash $350M pre-tax and after-tax charge associated with the reduction in carrying value to present value of reimbursement receivables due from Garrett in relation to Garrett's September 20, 2020 Chapter 11 bankruptcy filing Honeywell (www.honeywell.com) is a Fortune 100 technology company that delivers industry specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help everything from aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom. This release contains certain statements that may be deemed \"forward-looking statements\" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, technological, and COVID-19 public health factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, and other developments, including the potential impact of the COVID-19 pandemic, and business decisions may differ from those envisaged by such forward-looking statements. Any forward-looking plans described herein are not final and may be modified or abandoned at any time. No final decision will be taken with respect to such plans or proposals without prior satisfaction of any applicable requirements with respect to informing, consulting or negotiating with employees or their representatives. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission. This release contains financial measures presented on a non-GAAP basis. Honeywell's non-GAAP financial measures used in this release are as follows: segment profit, on an overall Honeywell basis, a measure by which we assess operating performance, which we define as operating income adjusted for certain items as presented in the Appendix; segment margin, on an overall Honeywell basis, which we define as segment profit divided by sales; organic sales growth, which we define as sales growth less the impacts from foreign currency translation, and acquisitions and divestitures for the first 12 months following transaction date; free cash flow, which we define as cash flow from operations less capital expenditures; adjusted free cash flow, which we define as cash flow from operations less capital expenditures and which we adjust to exclude the impact of separation costs related to the spin-offs of Resideo and Garrett, if and as noted in the release; adjusted free cash flow conversion, which we define as adjusted free cash flow divided by net income attributable to Honeywell, excluding separation costs related to the spin-offs and the impact of a non-cash $350M pre-tax and after-tax charge associated with the reduction in carrying value to present value of reimbursement receivables due from Garrett in relation to Garrett's September 20, 2020 Chapter 11 bankruptcy filing, if and as noted in the release; and adjusted earnings per share, which we adjust to exclude pension mark-to-market, adjustments to the charges taken in connection with the 4Q17 U.S. tax legislation charge, the favorable resolution of a foreign tax matter related to the spin-off transactions, and the impact of a non-cash $350M pre-tax and after-tax charge associated with the reduction in carrying value to present value of reimbursement receivables due from Garrett in relation to Garrett's September 20, 2020 Chapter 11 bankruptcy filing, if and as noted in the release. Management believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. These metrics should be considered in addition to, and not as replacements for, the most comparable GAAP measure. Refer to the Appendix attached to this release for reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures. Honeywell International Inc. Consolidated Statement of Operations (Unaudited) (Dollars in millions, except per share amounts) Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Product sales $ 5,885 $ 6,793 $ 17,933 $ 20,496 Service sales 1,912 2,293 5,804 6,717 Net sales 7,797 9,086 23,737 27,213 Costs, expenses and other Cost of products sold (1) 4,315 4,775 12,852 14,244 Cost of services sold (1) 1,068 1,263 3,341 3,767 5,383 6,038 16,193 18,011 Selling, general and administrative expenses (1) 1,103 1,296 3,524 4,046 Other (income) expense 62 (311) (546) (901) Interest and other financial charges 101 96 264 266 6,649 7,119 19,435 21,422 Income before taxes 1,148 1,967 4,302 5,791 Tax expense (benefit) 367 319 816 1,151 Net income 781 1,648 3,486 4,640 Less: Net income attributable to the noncontrolling interest 23 24 66 59 Net income attributable to Honeywell $ 758 $ 1,624 $ 3,420 $ 4,581 Earnings per share of common stock - basic $ 1.08 $ 2.26 $ 4.85 $ 6.33 Earnings per share of common stock - assuming dilution $ 1.07 $ 2.23 $ 4.81 $ 6.25 Weighted average number of shares outstanding - basic 702.6 717.6 704.8 723.5 Weighted average number of shares outstanding - assuming dilution 709.6 726.7 711.6 732.8 (1) Cost of products and services sold and selling, general and administrative expenses include amounts for repositioning and other charges, the service cost component of pension and other postretirement (income) expense, and stock compensation expense. Honeywell International Inc. Segment Data (Unaudited) (Dollars in millions) Three Months Ended September 30, Nine Months Ended September 30, Net Sales 2020 2019 2020 2019 Aerospace $ 2,662 $ 3,544 $ 8,566 $ 10,393 Honeywell Building Technologies 1,305 1,415 3,763 4,254 Performance Materials and Technologies 2,252 2,670 6,867 7,977 Safety and Productivity Solutions 1,578 1,457 4,541 4,589 Total $ 7,797 $ 9,086 $ 23,737 $ 27,213 Reconciliation of Segment Profit to Income Before Taxes Three Months Ended September 30, Nine Months Ended September 30, Segment Profit 2020 2019 2020 2019 Aerospace $ 617 $ 908 $ 2,082 $ 2,653 Honeywell Building Technologies 282 297 794 868 Performance Materials and Technologies 442 582 1,373 1,790 Safety and Productivity Solutions 219 195 610 598 Corporate (7) (54) (73) (202) Total segment profit 1,553 1,928 4,786 5,707 Interest and other financial charges (101) (96) (264) (266) Stock compensation expense (1) (40) (37) (118) (112) Pension ongoing income (2) 197 150 593 449 Other postretirement income (2) 13 12 40 35 Repositioning and other charges (3,4) (144) (96) (486) (306) Other (5) (330) 106 (249) 284 Income before taxes $ 1,148 $ 1,967 $ 4,302 $ 5,791 (1) Amounts included in Selling, general and administrative expenses. (2) Amounts included in Cost of products and services sold and Selling, general and administrative expenses (service costs) and Other income/expense (non-service cost components). (3) Amounts included in Cost of products and services sold, Selling, general and administrative expenses, and Other income/expense. (4) Includes repositioning, asbestos, and environmental expenses. (5) Amounts include the other components of Other income/expense not included within other categories in this reconciliation. Equity income (loss) of affiliated companies is included in segment profit. Honeywell International Inc. Consolidated Balance Sheet (Unaudited) (Dollars in millions) September 30, 2020 December 31, 2019 ASSETS Current assets: Cash and cash equivalents $ 14,036 $ 9,067 Short-term investments 972 1,349 Accounts receivable - net 6,878 7,493 Inventories 4,705 4,421 Other current assets 1,609 1,973 Total current assets 28,200 24,303 Investments and long-term receivables 673 588 Property, plant and equipment - net 5,419 5,325 Goodwill 15,666 15,563 Other intangible assets - net 3,494 3,734 Insurance recoveries for asbestos related liabilities 374 392 Deferred income taxes 154 86 Other assets 9,479 8,688 Total assets $ 63,459 $ 58,679 LIABILITIES Current liabilities: Accounts payable $ 5,270 $ 5,730 Commercial paper and other short-term borrowings 3,550 3,516 Current maturities of long-term debt 985 1,376 Accrued liabilities 7,379 7,476 Total current liabilities 17,184 18,098 Long-term debt 17,687 11,110 Deferred income taxes 1,474 1,670 Postretirement benefit obligations other than pensions 309 326 Asbestos related liabilities 1,845 1,996 Other liabilities 6,640 6,766 Redeemable noncontrolling interest 7 7 Shareowners' equity 18,313 18,706 Total liabilities, redeemable noncontrolling interest and shareowners' equity $ 63,459 $ 58,679 Honeywell International Inc. Consolidated Statement of Cash Flows (Unaudited) (Dollars in millions) Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Cash flows from operating activities: Net income $ 781 $ 1,648 $ 3,486 $ 4,640 Less: Net income attributable to the noncontrolling interest 23 24 66 59 Net income attributable to Honeywell 758 1,624 3,420 4,581 Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities: Depreciation 166 165 480 500 Amortization 89 98 268 319 Repositioning and other charges 144 96 486 306 Net payments for repositioning and other charges (343) (72) (652) (157) Pension and other postretirement income (210) (162) (633) (484) Pension and other postretirement benefit payments (14) (5) (37) (50) Stock compensation expense 40 37 118 112 Deferred income taxes (12) (342) (289) (298) Reimbursement receivables charge 350 350 Other (84) 93 (369) 98 Changes in assets and liabilities, net of the effects of acquisitions and divestitures: Accounts receivable (161) (176) 615 (78) Inventories 47 (3) (284) (276) Other current assets 140 171 246 (68) Accounts payable (96) (81) (460) (89) Accrued liabilities 193 28 167 (133) Net cash provided by (used for) operating activities 1,007 1,471 3,426 4,283 Cash flows from investing activities: Expenditures for property, plant and equipment (249) (192) (615) (504) Proceeds from disposals of property, plant and equipment 10 31 17 41 Increase in investments (700) (944) (2,371) (3,218) Decrease in investments 1,045 1,155 2,634 3,318 Receipts (payments) from settlements of derivative contracts (158) 175 (75) 245 Other (4) (4) Net cash provided by (used for) investing activities (52) 221 (410) (122) Cash flows from financing activities: Proceeds from issuance of commercial paper and other short-term borrowings 1,412 3,178 8,577 10,292 Payments of commercial paper and other short-term borrowings (1,418) (3,178) (8,512) (10,293) Proceeds from issuance of common stock 66 47 163 425 Proceeds from issuance of long-term debt 3,004 2,696 10,105 2,725 Payments of long-term debt (3,019) (36) (4,237) (120) Repurchases of common stock (164) (1,000) (2,149) (3,650) Cash dividends paid (636) (595) (1,921) (1,798) Other (14) (40) (54) (72) Net cash provided by (used for) financing activities (769) 1,072 1,972 (2,491) Effect of foreign exchange rate changes on cash and cash equivalents 72 (81) (19) (49) Net increase (decrease) in cash and cash equivalents 258 2,683 4,969 1,621 Cash and cash equivalents at beginning of period 13,778 8,225 9,067 9,287 Cash and cash equivalents at end of period $ 14,036 $ 10,908 $ 14,036 $ 10,908 Honeywell International Inc. Reconciliation of Organic Sales % Change (Unaudited) Three Months Ended September 30, 2020 Honeywell Reported sales % change (14)% Less: Foreign currency translation % Less: Acquisitions, divestitures and other, net % Organic sales % change (14)% Aerospace Reported sales % change (25)% Less: Foreign currency translation % Less: Acquisitions, divestitures and other, net % Organic sales % change (25)% Honeywell Building Technologies Reported sales % change (8)% Less: Foreign currency translation % Less: Acquisitions, divestitures and other, net % Organic sales % change (8)% Performance Materials and Technologies Reported sales % change (16)% Less: Foreign currency translation % Less: Acquisitions, divestitures and other, net % Organic sales % change (16)% Safety and Productivity Solutions Reported sales % change 8% Less: Foreign currency translation % Less: Acquisitions, divestitures and other, net % Organic sales % change 8% We define organic sales percent as the year-over-year change in reported sales relative to the comparable period, excluding the impact on sales from foreign currency translation and acquisitions, net of divestitures. We believe this measure is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. A quantitative reconciliation of reported sales percent change to organic sales percent change has not been provided for forward-looking measures of organic sales percent change because management cannot reliably predict or estimate, without unreasonable effort, the fluctuations in global currency markets that impact foreign currency translation, nor is it reasonable for management to predict the timing, occurrence and impact of acquisition and divestiture transactions, all of which could significantly impact our reported sales percent change. Honeywell International Inc. Reconciliation of Segment Profit to Operating Income and Calculation of Segment Profit and Operating Income Margins (Unaudited) (Dollars in millions) Three Months Ended September 30, 2020 2019 Segment profit $ 1,553 $ 1,928 Stock compensation expense (1) (40) (37) Repositioning, Other (2,3) (161) (109) Pension and other postretirement service costs (4) (41) (30) Operating income $ 1,311 $ 1,752 Segment profit $ 1,553 $ 1,928 Net sales $ 7,797 $ 9,086 Segment profit margin % 19.9 % 21.2 % Operating income $ 1,311 $ 1,752 Net sales $ 7,797 $ 9,086 Operating income margin % 16.8 % 19.3 % (1) Included in Selling, general and administrative expenses. (2) Includes repositioning, asbestos, environmental expenses and equity income adjustment. (3) Included in Cost of products and services sold, Selling, general and administrative expenses and Other income/expense. (4) Included in Cost of products and services sold and Selling, general and administrative expenses. We define segment profit as operating income, excluding stock compensation expense, pension and other postretirement service costs, and repositioning and other charges. We believe these measures are useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. Honeywell International Inc. Reconciliation of Earnings per Share to Adjusted Earnings per Share (Unaudited) Three Months Ended September 30, Three Months Ended June 30, 2020 Three Months Ended December 31, 2019 Twelve Months Ended December 31, 2019 2020 2019 Earnings per share of common stock - assuming dilution (1) $ 1.07 $ 2.23 $ 1.53 $ 2.16 $ 8.41 Pension mark-to-market expense (2) 0.13 0.13 Separation-related tax adjustment (3) (0.27) Impacts from U.S. Tax Reform (0.15) (0.23) (0.38) Reimbursement receivable charge (4) $ 0.49 Adjusted earnings per share of common stock - assuming dilution $ 1.56 $ 2.08 $ 1.26 $ 2.06 $ 8.16 (1) For the three months ended September 30, 2020 and 2019, adjusted earnings per share utilizes weighted average shares of approximately 709.6 million and 726.7 million. For the three months ended June 30, 2020, adjusted earnings per share utilizes weighted average shares of approximately 708.1 million. For the three and twelve months ended December 31, 2019 adjusted earnings per share utilizes weighted average shares of approximately 722.6 million and 730.3. (2) Pension mark-to-market expense uses a blended tax rate of 24% for 2019. (3) For the three months ended June 30, 2020, separation-related tax adjustment of $186 million ($186 million net of tax) includes the favorable resolution of a foreign tax matter related to the spin-off transactions. (4) The impact due to a non-cash $350M pre-tax and after-tax charge associated with the reduction in carrying value to present value of reimbursement receivables due from Garrett in relation to Garrett's September 20, 2020 Chapter 11 bankruptcy filing. Honeywell International Inc. Reconciliation of Cash Provided by Operating Activities to Adjusted Free Cash Flow and Calculation of Adjusted Free Cash Flow Conversion (Unaudited) (Dollars in millions) Three Months Ended September 30, 2020 Three Months Ended September 30, 2019 Cash provided by operating activities $ 1,007 $ 1,471 Expenditures for property, plant and equipment (249) (192) Free cash flow 758 1,279 Separation cost payments 7 Adjusted free cash flow $ 758 $ 1,286 Net income attributable to Honeywell 758 1,624 Impacts from U.S. Tax Reform (114) Reimbursement receivable charge (1) 350 Adjusted net income attributable to Honeywell $ 1,108 $ 1,510 Cash provided by operating activities $ 1,007 $ 1,471 Net income (loss) attributable to Honeywell $ 758 $ 1,624 Operating cash flow conversion 133 % 91 % Adjusted free cash flow $ 758 $ 1,286 Adjusted net income attributable to Honeywell $ 1,108 $ 1,510 Adjusted free cash flow conversion % 68 % 85 % (1) A non-cash $350M pre-tax and after-tax charge associated with the reduction in carrying value to present value of reimbursement receivables due from Garrett in relation to Garrett's September 20, 2020 Chapter 11 bankruptcy filing. We define free cash flow as cash provided by operating activities less cash expenditures for property, plant and equipment. We believe that this metric is useful to investors and management as a measure of cash generated by business operations that will be used to repay scheduled debt maturities and can be used to invest in future growth through new business development activities or acquisitions, pay dividends, repurchase stock or repay debt obligations prior to their maturities. This metric can also be used to evaluate our ability to generate cash flow from business operations and the impact that this cash flow has on our liquidity. Honeywell International Inc. Reconciliation of Segment Profit to Operating Income and Calculation of Segment Profit and Operating Income Margins (Unaudited) (Dollars in millions) Three Months Ended December 31, 2019 Twelve Months Ended December 31, 2019 Three Months Ended June 30, 2020 Segment profit $ 2,032 $ 7,739 $ 1,385 Stock compensation expense (1) (41) (153) (34) Repositioning, Other (2,3) (259) (598) (295) Pension and other postretirement service costs (4) (37) (137) (38) Operating income $ 1,695 $ 6,851 $ 1,018 Segment profit $ 2,032 $ 7,739 $ 1,385 Net sales $ 9,496 $ 36,709 $ 7,477 Segment profit margin % 21.4 % 21.1 % 18.5 % Operating income $ 1,695 $ 6,851 $ 1,018 Net sales $ 9,496 $ 36,709 $ 7,477 Operating income margin % 17.8 % 18.7 % 13.6 % (1) Included in Selling, general and administrative expenses. (2) Includes repositioning, asbestos, environmental expenses and equity income adjustment. (3) Included in Cost of products and services sold, Selling, general and administrative expenses and Other income/expense. (4) Included in Cost of products and services sold and Selling, general and administrative expenses. We define segment profit as operating income, excluding stock compensation expense, pension and other postretirement service costs, and repositioning and other charges. We believe these measures are useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. A quantitative reconciliation of segment profit, on an overall Honeywell basis, to operating income has not been provided for all forward-looking measures of segment profit and segment margin included herewithin. Management cannot reliably predict or estimate, without unreasonable effort, the impact and timing on future operating results arising from items excluded from segment profit, particularly pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. The information that is unavailable to provide a quantitative reconciliation could have a significant impact on our reported financial results. To the extent quantitative information becomes available without unreasonable effort in the future, and closer to the period to which the forward-looking measures pertain, a reconciliation of segment profit to operating income will be included within future filings. Honeywell International Inc. Reconciliation of Expected Earnings per Share to Adjusted Earnings per Share (Unaudited) Three Months EndedDecember 31, 2020 (E) Twelve Months Ended December 31, 2020 (E) Earnings per share of common stock - assuming dilution (1) $1.97 - $2.02 $6.78 - $6.83 Pension mark-to-market expense Separation-related tax adjustment (2) (0.27) Reimbursement receivable charge (3) 0.49 Adjusted earnings per share of common stock - assuming dilution $1.97 - $2.02 $7.00 - $7.05 (1) For the three and twelve months ended December 31, 2020, expected adjusted earnings per share utilizes weighted average shares of approximately 710 million and 711 million. (2) For the twelve months ended December 31, 2020, separation-related tax adjustment of $186 million ($186 million net of tax) includes the favorable resolution of a foreign tax matter related to the spin-off transactions. (3) The impact due to a non-cash $350M pre-tax and after-tax charge associated with the reduction in carrying value to present value of reimbursement receivables due from Garrett in relation to Garrett's September 20, 2020 Chapter 11 bankruptcy filing. We believe adjusted earnings per share, is a measure that is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. For forward looking information, management cannot reliably predict or estimate, without unreasonable effort, the pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. We therefore do not include an estimate for the pension mark-to-market expense. Based on economic and industry conditions,
Chinese News:
进博会为东西方企业齐聚一堂、展示各自创新成果和交流经验提供了契机，有助于建立更多的联系，是个绝佳的平台。” 美国霍尼韦尔公司全球高增长地区总裁沈达理近日在接受记者专访时说。沈达理说，今年的进博会霍尼韦尔带来了涵盖安全保障、能源效率等多个领域的创新技术和产品。“我们非常支持进博会，因为它是彰显中国经济动能的重要部分。”他说。霍尼韦尔是第一批参加首届进博会的跨国公司，2019年第二届进博会上，霍尼韦尔的展位面积比2018年扩大了三倍。霍尼韦尔在过去两届进博会上展示了多项智能互联、节能环保和安全防护创新技术，同时与中国企业签署了合作协议，涉及互联工厂、智慧建筑、智慧医疗、飞机维修等，携手客户共创互联、安全和可持续的美好未来。沈达理表示，中国是目前唯一呈现稳步复苏态势的主要经济体。经济转入正轨，需要“人们有信心走出去参与经济活动”，中国在谨慎应对疫情、注入社会信心等方面，“处理得很稳妥”。作为最早进入中国的美资企业之一，霍尼韦尔向来重视中国市场，看好其发展前景。沈达理说，跨国公司需要关注全球趋势，其投资、战略布局、产品和服务都要反映全球增长的现实，“我们的核心战略是与中国一起动态发展，真正成为中国本土企业。”沈达理认为，中国不单单是个进口或出口市场，也是重要的生产制造和创新之地，所以我们力求在中国市场拥有一席之地，以更好地抓住中国本土市场活力所带来的巨大机遇。“早在15、16年前，我们就意识到中国不仅是一个庞大的市场，也是一个充满活力的全球经济体，作为真正意义上的全球跨国公司，我们需充分参与中国的动态增长。”他说。在中国，霍尼韦尔长期以创新来推动增长，贯彻“东方服务于东方”和“东方服务于全球”的战略。目前，霍尼韦尔四大业务集团均已落户中国，在中国30多个城市拥有50多家独资公司和合资企业.
Japanese News:
ハネウェル・インターナショナル［HON］決算：1株利益は2.58ドルで市場予想を上回る ハネウェル・インターナショナルは、旧式のサーモスタット装置を製造し、1885年にアルバート・バッツによって創設されたButz－Thermo Electric Regulatorを前身とする。他の発明には、生分解性洗剤や自動操縦などがある。現在は、世界的に多様な産業へと対応する巨大企業であり、最大規模の設備のインストールベースを有する1社である。エアロスペース・テクノロジーズ（2023年の会社収益の37％）、インダストリアル・オートメーション（同29％）、エネルギーおよび持続可能性ソリューション（同17％）、ビルディング・オートメーション（同17％）の4つの事業部門で事業を展開している。より少数の最終市場に焦点を当て、一連の長期的な成長トレンドに合わせていくつかのポートフォリオ変更を行っている。インストールベースの拡大に熱心に取り組んでおり、収益の30％を定期的なアフターマーケットサービスから得ている。
Spanish News:
Wall Street abrió con retrocesos generalizados este viernes y su principal indicador, el Dow Jones de Industriales, bajaba un 0,33 %, apuntalando lo que parece que cerrará como la peor semana en las operaciones bursátiles de Nueva York desde mediados de marzo, cuando comenzó a extenderse la pandemia en Europa y Estados Unidos. Al inicio de las operaciones a las 9.30 (13.30 GMT) en la Bolsa de Nueva York, el Dow Jones bajaba 86,84 puntos, hasta 26.572,27 unidades, con Apple (-3,64 %) liderando las caídas de los 30 grandes valores del parqué, mientras que le seguían Honeywell (-0,85%) y Caterpillar (-0,84%). El selectivo S&P 500, por su parte, perdía un 0,51 % o 16,99 puntos, hasta 3.293,12 unidades; y el índice compuesto Nasdaq, en el que cotizan las principales tecnológicas, sufría la mayor caída con un retroceso del 0,75 %, equivalente a 96.52 puntos, hasta los 11.089,07 enteros. Los sectores que caían con más fuerza en los primeros compases de la jornada eran los de bienes no esenciales (-1,20 %), el tecnológico (-1,19 %) y el energético (-0,58 %), mientras que solo los de comunicaciones (1,43%) y el de salud (0,23%) se mantenían en positivo. En lo que va de semana el Dow Jones ha perdido cerca de un 6 %, con lo que podría cerrar esta semana negra como la peor desde el 20 de marzo, lo que pone de relieve la percepción de los inversores sobre el impacto de la segunda ola de covid-19 en el mundo a las puertas del invierno boreal. La volatilidad está a niveles máximos desde junio, por las incertidumbre sobre el avance de la pandemia en Europa y Estados Unidos y la inminencia de las elecciones generales en el país norteamericano que podrían ver un cambio en la Casa Blanca a favor del demócrata Joe Biden frente al presidente Donald Trump. "Las políticas de estímulo, los desarrollos médicos positivos y las esperanzas en el retorno a los niveles de actividad económica pre-pandemia han provisto mejoras en los mercados de activos. No obstante, las nuevas restricciones económicas, especialmente en Europa, pese a que eran predecibles llamaron la atención de los inversores esta semana, contribuyendo a las fuertes pérdidas", resumió la firma de análisis de mercados MRB Partners en una nota. En otros mercados, el petróleo de Texas caía media hora después de iniciarse las cotizaciones un 1,35 %, a 35,68 dólares el barril; el oro ascendía a 1.887,40 dólares la onza; el rendimiento del bono del Tesoro a 10 años subía a 0,839 % y el dólar perdía terreno frente al euro, con un cambio de 1,1684.
Greek News:
Η εταιρία Honeywell, γνωστή κυρίως ως κολοσσός στον βιομηχανικό και τεχνολογικό τομέα, επεκτείνει τη παρουσία της στην αναδυόμενη αγορά του Quantum Computing. Παρουσιάζοντας το νέο της σύστημα Μοδελ Η1, η εταιρία αξιοποεί την τεχνολογία των παγιδευμένων ιόντων, προσφέροντας 10 πλήρως συνδεδεμένα qubits, και επιτυγχάνει Quantum Volume 128. Το H1 θα είναι διαθέσιμο μέσω της πλατφόρμας Azure Quantum, με τη στήριξη εταιριών όπως η Zapata Computing και η Cambridge Quantum Computing. Παρά του φιλόδοξου ισχυρισμού της εταιρίας IonQ για υλοποίηση αντίστοιχου έργου με Quantum Volume τουλάχιστον 4.000.000, η Honeywell υπερβαίνει τους ανταγωνιστές της, όπως την IBM, δίνοντας έμφαση στην ποιότητα και σταθερότητα των qubits της. Η εταιρία αποδίδει την τεχνολογική της πρόοδο στην πολυετή εμπειρία της στα συστήματα ελέγχου, εμπειρία η οποία επέτρεψε τη δημιουργία μιας ιδιαίτερα σταθερής παγίδας ιόντως, ενισχύοντας τη δυνατότητα διόρθωσης σφαλμάτων. Ωστόσο, στο οικονομικό μέτωπο, τα αποτελέσματα του τρίτου τριμήνου του 2020 καταγράφουν πτώση. Η Honeywell ανακοίνωσε καθαρό εισόδημα ύψους 781 εκατομμυρίων δολαρίων για την περίοδο που έληξε στις 30 Σεπτεμβρίου, σημαντικά μειωμένο σε σχέση με τα 1,648 δισεκατομμύρια δολάρια του αντίστοιχου τριμήνου το 2019. Η εξέλιξη αυτή αντικατοπτρίζει τις προκλήσεις που αντιμετωπίζει η εταιρεία στο ευρύτερο οικονομικό περιβάλλον, ακόμη και καθώς επενδύει σε τεχνολογίες αιχμής.
Question:
How is the company allocating capital (e.g., investments, share repurchases, dividends) based on its performance and market outlook from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | How is the company allocating capital (e.g., investments, share repurchases, dividends) based on its performance and market outlook from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: Honeywell resumed opportunistic share repurchases in Q3; announced the 11th consecutive increase to its dividend; made two acquisitions to support Aerospace growth; raised $3B in bonds and repaid a $3B loan to enhance financial flexibility.
Financial Statement Evidence: In the first nine months of FY2020, Honeywell allocated capital as follows: $2.1B for stock repurchases, $2.0B for dividends, and $615M for capital expenditures. |
HON_20201030 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:------------------------------------------------------------------------------|:----------------------|:-----------|:------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | September 30, 2020 | | December 31, 2019 | | | | | | | | |
| | (Dollars in millions) | | | | | | | | | | |
| ASSETS | | | | | | | | | | | |
| Current assets: | | | | | | | | | | | |
| Cash and cash equivalents | $ | 14,036 | | | $ | 9,067 | | | | | |
| Short-term investments | 972 | | | 1,349 | | | | | | | |
| Accounts receivable - net | 6,878 | | | 7,493 | | | | | | | |
| Inventories | 4,705 | | | 4,421 | | | | | | | |
| Other current assets | 1,609 | | | 1,973 | | | | | | | |
| Total current assets | 28,200 | | | 24,303 | | | | | | | |
| Investments and long-term receivables | 673 | | | 588 | | | | | | | |
| Property, plant and equipment - net | 5,419 | | | 5,325 | | | | | | | |
| Goodwill | 15,666 | | | 15,563 | | | | | | | |
| Other intangible assets - net | 3,494 | | | 3,734 | | | | | | | |
| Insurance recoveries for asbestos related liabilities | 374 | | | 392 | | | | | | | |
| Deferred income taxes | 154 | | | 86 | | | | | | | |
| Other assets | 9,479 | | | 8,688 | | | | | | | |
| Total assets | $ | 63,459 | | | $ | 58,679 | | | | | |
| LIABILITIES | | | | | | | | | | | |
| Current liabilities: | | | | | | | | | | | |
| Accounts payable | $ | 5,270 | | | $ | 5,730 | | | | | |
| Commercial paper and other short-term borrowings | 3,550 | | | 3,516 | | | | | | | |
| Current maturities of long-term debt | 985 | | | 1,376 | | | | | | | |
| Accrued liabilities | 7,379 | | | 7,476 | | | | | | | |
| Total current liabilities | 17,184 | | | 18,098 | | | | | | | |
| Long-term debt | 17,687 | | | 11,110 | | | | | | | |
| Deferred income taxes | 1,474 | | | 1,670 | | | | | | | |
| Postretirement benefit obligations other than pensions | 309 | | | 326 | | | | | | | |
| Asbestos related liabilities | 1,845 | | | 1,996 | | | | | | | |
| Other liabilities | 6,640 | | | 6,766 | | | | | | | |
| Redeemable noncontrolling interest | 7 | | | 7 | | | | | | | |
| SHAREOWNERS’ EQUITY | | | | | | | | | | | |
| Capital - common stock issued | 958 | | | 958 | | | | | | | |
| - additional paid-in capital | 7,155 | | | 6,876 | | | | | | | |
| Common stock held in treasury, at cost | (25,806) | | | (23,836) | | | | | | | |
| Accumulated other comprehensive loss | (3,436) | | | (3,197) | | | | | | | |
| Retained earnings | 39,203 | | | 37,693 | | | | | | | |
| Total Honeywell shareowners’ equity | 18,074 | | | 18,494 | | | | | | | |
| Noncontrolling interest | 239 | | | 212 | | | | | | | |
| Total shareowners’ equity | 18,313 | | | 18,706 | | | | | | | |
| Total liabilities, redeemable noncontrolling interest and shareowners’ equity | $ | 63,459 | | | $ | 58,679 | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:------------------------------------------------------------------------------------------------------------|:--------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | Nine Months Ended September 30, | | | | | | | | | | |
| | 2020 | | 2019 | | | | | | | | |
| | (Dollars in millions) | | | | | | | | | | |
| Cash flows from operating activities: | | | | | | | | | | | |
| Net income | $ | 3,486 | | | $ | 4,640 | | | | | |
| Less: Net income attributable to the noncontrolling interest | 66 | | | 59 | | | | | | | |
| Net income attributable to Honeywell | 3,420 | | | 4,581 | | | | | | | |
| Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities: | | | | | | | | | | | |
| Depreciation | 480 | | | 500 | | | | | | | |
| Amortization | 268 | | | 319 | | | | | | | |
| | | | | | | | | | | | |
| Repositioning and other charges | 486 | | | 306 | | | | | | | |
| Net payments for repositioning and other charges | (652) | | | (157) | | | | | | | |
| Pension and other postretirement income | (633) | | | (484) | | | | | | | |
| Pension and other postretirement benefit payments | (37) | | | (50) | | | | | | | |
| Stock compensation expense | 118 | | | 112 | | | | | | | |
| Deferred income taxes | (289) | | | (298) | | | | | | | |
| Reimbursement receivables charge | 350 | | | — | | | | | | | |
| Other | (369) | | | 98 | | | | | | | |
| Changes in assets and liabilities, net of the effects of acquisitions and divestitures: | | | | | | | | | | | |
| Accounts receivable | 615 | | | (78) | | | | | | | |
| Inventories | (284) | | | (276) | | | | | | | |
| Other current assets | 246 | | | (68) | | | | | | | |
| Accounts payable | (460) | | | (89) | | | | | | | |
| Accrued liabilities | 167 | | | (133) | | | | | | | |
| Net cash provided by (used for) operating activities | 3,426 | | | 4,283 | | | | | | | |
| Cash flows from investing activities: | | | | | | | | | | | |
| Expenditures for property, plant and equipment | (615) | | | (504) | | | | | | | |
| Proceeds from disposals of property, plant and equipment | 17 | | | 41 | | | | | | | |
| Increase in investments | (2,371) | | | (3,218) | | | | | | | |
| Decrease in investments | 2,634 | | | 3,318 | | | | | | | |
| Receipts (payments) from settlements of derivative contracts | (75) | | | 245 | | | | | | | |
| Other | — | | | (4) | | | | | | | |
| Net cash provided by (used for) investing activities | (410) | | | (122) | | | | | | | |
| Cash flows from financing activities: | | | | | | | | | | | |
| Proceeds from issuance of commercial paper and other short-term borrowings | 8,577 | | | 10,292 | | | | | | | |
| Payments of commercial paper and other short-term borrowings | (8,512) | | | (10,293) | | | | | | | |
| Proceeds from issuance of common stock | 163 | | | 425 | | | | | | | |
| Proceeds from issuance of long-term debt | 10,105 | | | 2,725 | | | | | | | |
| Payments of long-term debt | (4,237) | | | (120) | | | | | | | |
| Repurchases of common stock | (2,149) | | | (3,650) | | | | | | | |
| Cash dividends paid | (1,921) | | | (1,798) | | | | | | | |
| Other | (54) | | | (72) | | | | | | | |
| Net cash provided by (used for) financing activities | 1,972 | | | (2,491) | | | | | | | |
| Effect of foreign exchange rate changes on cash and cash equivalents | (19) | | | (49) | | | | | | | |
| Net increase (decrease) in cash and cash equivalents | 4,969 | | | 1,621 | | | | | | | |
| Cash and cash equivalents at beginning of period | 9,067 | | | 9,287 | | | | | | | |
| Cash and cash equivalents at end of period | $ | 14,036 | | | $ | 10,908 | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 | Column 22 | Column 23 | Column 24 |
|:-------------------------------------------------------------|:------------------------------------------------|:-----------|:--------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | | | | |
| | Three Months Ended September 30, | | Nine Months Ended September 30, | | | | | | | | | | | | | | | | | | | | |
| | 2020 | | 2019 | | 2020 | | 2019 | | | | | | | | | | | | | | | | |
| | (Dollars in millions, except per share amounts) | | | | | | | | | | | | | | | | | | | | | | |
| Product sales | $ | 5,885 | | | $ | 6,793 | | | $ | 17,933 | | | $ | 20,496 | | | | | | | | | |
| Service sales | 1,912 | | | 2,293 | | | 5,804 | | | 6,717 | | | | | | | | | | | | | |
| Net sales | 7,797 | | | 9,086 | | | 23,737 | | | 27,213 | | | | | | | | | | | | | |
| Costs, expenses and other | | | | | | | | | | | | | | | | | | | | | | | |
| Cost of products sold | 4,315 | | | 4,775 | | | 12,852 | | | 14,244 | | | | | | | | | | | | | |
| Cost of services sold | 1,068 | | | 1,263 | | | 3,341 | | | 3,767 | | | | | | | | | | | | | |
| | 5,383 | | | 6,038 | | | 16,193 | | | 18,011 | | | | | | | | | | | | | |
| Selling, general and administrative expenses | 1,103 | | | 1,296 | | | 3,524 | | | 4,046 | | | | | | | | | | | | | |
| Other (income) expense | 62 | | | (311) | | | (546) | | | (901) | | | | | | | | | | | | | |
| Interest and other financial charges | 101 | | | 96 | | | 264 | | | 266 | | | | | | | | | | | | | |
| | 6,649 | | | 7,119 | | | 19,435 | | | 21,422 | | | | | | | | | | | | | |
| Income before taxes | 1,148 | | | 1,967 | | | 4,302 | | | 5,791 | | | | | | | | | | | | | |
| Tax expense (benefit) | 367 | | | 319 | | | 816 | | | 1,151 | | | | | | | | | | | | | |
| Net income | 781 | | | 1,648 | | | 3,486 | | | 4,640 | | | | | | | | | | | | | |
| Less: Net income attributable to the noncontrolling interest | 23 | | | 24 | | | 66 | | | 59 | | | | | | | | | | | | | |
| Net income attributable to Honeywell | $ | 758 | | | $ | 1,624 | | | $ | 3,420 | | | $ | 4,581 | | | | | | | | | |
| Earnings per share of common stock - basic | $ | 1.08 | | | $ | 2.26 | | | $ | 4.85 | | | $ | 6.33 | | | | | | | | | |
| Earnings per share of common stock - assuming dilution | $ | 1.07 | | | $ | 2.23 | | | $ | 4.81 | | | $ | 6.25 | | | | | | | | | |
---
English News:
"Honeywell Reports Third-Quarter EPS Of $1.07, Adjusted EPS Of $1.56; Generates Sequential Sales And Segment Profit Growth In All Segments - CHARLOTTE, N.C., Oct. 30, 2020 /PRNewswire/ -- Honeywell (NYSE: HON) today announced results for the third quarter of 2020, which improved sequentially versus the second quarter of 2020. The company reported a third-quarter year-over-year sales decline of 14% reported and organic, operating margin contraction of 250 basis points, and segment margin contraction of 130 basis points, with adjusted earnings per share2 of $1.56. \"I am pleased with the quarter-over-quarter improvements in sales growth, margin expansion and adjusted earnings per share that we delivered in the third quarter,\" said Darius Adamczyk, chairman and chief executive officer of Honeywell. \"We continued to focus on driving sales growth in areas that have not been as impacted by the current downturn, including defense and space, warehouse automation and personal protective equipment, all of which grew by double-digits organically year-over-year. Recurring software sales also grew double-digits organically, continuing our transformation to a premier software-industrial company. \"We also focused on aggressively managing cost, and delivered over $450 million in savings in the quarter, bringing our year-to-date total to $1.1 billion. We now expect to generate $1.5 billion to $1.6 billion of cost savings during 2020, up from our previous estimate of $1.4 billion to $1.6 billion,\" Adamczyk continued. \"Honeywell's balance sheet remains strong, with $15 billion of cash and short-term investments on hand, and we further enhanced our financial flexibility this quarter by issuing $3 billion of bonds at attractive rates and repaying in full the $3 billion term loan borrowed earlier this year. Capital deployment remains a focus for us. In the third quarter, we resumed opportunistic share repurchases and announced the 11th consecutive increase to our dividend. We also recently announced two acquisitions that will provide emerging technologies in our Aerospace business. I am confident we are well-positioned for the economic recovery.\" Adamczyk concluded, \"Last month we celebrated two significant milestones: Honeywell's 100th anniversary on the New York Stock Exchange and our return to the Dow Jones Industrial Average. Honeywell is a company that has weathered the toughest of times and emerged from them stronger than before. This crisis is no exception. We have moved very quickly to introduce new offerings to help people get back to the workplace, back to play, back to travel, and back to life, and I am pleased with the strong demand we are seeing for these solutions. We remain focused on cost management and execution, while also investing in new markets and new technologies that will shape the next 100 years for our customers, shareowners and employees.\" Honeywell expects fourth quarter sales of $8.2 billion to $8.5 billion, representing a year-over-year organic sales decline of 11% to 14%; segment margin of 21.1% to 21.3%, down 10 to 30 basis points; and earnings per share of $1.97 to $2.02, down 2% to 4% adjusted. Full-year sales are expected to be in the range of $31.9 billion to $32.2 billion, representing a year-over-year organic sales decline of 12% to 13%; segment margin of 20.4% to 20.5%, down 60 to 70 basis points; and adjusted earnings per share1 of $7.00 to $7.05, down 14%. A summary of the company's 2020 guidance can be found in Table 1. Adjusted EPS in the headline excludes the impact of a non-cash $350M pre-tax and after-tax charge associated with the reduction in carrying value to present value of reimbursement receivables due from Garrett in relation to Garrett's September 20, 2020 Chapter 11 bankruptcy filing Third-Quarter PerformanceHoneywellsales for the third quarter were down 14% on a reported and organic basis. The third-quarter financial results can be found in Tables 2 and 3. Aerospacesales for the third quarter were down 25% on an organic basis driven by lower commercial aftermarket demand due to the ongoing impact of reduced flight hours and lower volumes in commercial original equipment, partially offset by double-digit growth in Defense and Space. Segment margin contracted 240 basis points to 23.2% driven by lower volumes and sales mix. Honeywell Building Technologiessales for the third quarter were down 8% on an organic basis driven by lower demand for building products and delays in Building Solutions projects, partially offset by growth in the services verticals. Segment margin expanded 60 basis points to 21.6%. Margin performance was driven by commercial excellence and productivity actions. Performance Materials and Technologies sales for the third quarter were down 16% on an organic basis driven by delays in Process Solutions services and automation projects as well as volume declines in smart energy; lower gas processing projects, catalyst shipments, licensing, and engineering due to softness in the oil and gas sector in UOP; and lower fluorine products volumes in Advanced Materials, partially offset by packaging and composites growth. Segment margin contracted 220 basis points to 19.6% driven by the impact of lower sales volumes, partially offset by productivity actions. Safety and Productivity Solutionssales for the third quarter were up 8% on an organic basis driven by double-digit Intelligrated and personal protective equipment growth as well as a return to growth in productivity solutions and services, partially offset by lower gas sensing volumes. Orders were up double-digits year-over-year for the fourth straight quarter, driven by approximately 150% personal protective equipment orders growth, and backlog remained at a record high. Segment margin expanded 50 basis points to 13.9% driven by productivity actions and commercial excellence. Conference Call DetailsHoneywell will discuss its third-quarter results and fourth-quarter outlook during an investor conference call starting at 8:30 a.m. Eastern Daylight Time today. To participate on the conference call, please dial (866) 548-4713 (domestic) or (323) 794-2093 (international) approximately ten minutes before the 8:30 a.m. EDT start.Please mention to the operator that you are dialing in for Honeywell's third-quarter 2020 earnings call or provide the conference code HON3Q20. The live webcast of the investor call as well as related presentation materials will be available through the Investor Relations section of the company's website (www.honeywell.com/investor). Investors can hear a replay of the conference call from 12:30 p.m. EDT, October 30, until 12:30 p.m. EST, November 6, by dialing (888) 203-1112 (domestic) or (719) 457-0820 (international). The access code is 1772801. TABLE 1: 4Q AND FULL-YEAR 2020 GUIDANCE3 4Q Guidance FY Guidance Sales $8.2B - $8.5B $31.9B - $32.2B Organic Growth Down (14%) - (11%) Down (13%) - (12%) Segment Margin 21.1% - 21.3% 20.4% - 20.5% Expansion Down (30) - (10) bps Down (70) - (60) bps Earnings Per Share $1.97 - $2.02 $6.78 - $6.83 Adjusted Earnings Per Share1 $1.97 - $2.02 $7.00 - $7.05 Adjusted Earnings Growth1 Down (4%) - (2%) Down (14%) TABLE 2: SUMMARY OF HONEYWELL FINANCIAL RESULTS 3Q 2020 3Q 2019 Change Sales 7,797 9,086 (14%) Organic Growth (14%) Segment Margin 19.9% 21.2% -130 bps Operating Income Margin 16.8% 19.3% -250 bps Earnings Per Share $1.07 $2.23 (52%) Adjusted Earnings Per Share2 $1.56 $2.08 (25%) Cash Flow from Operations 1,007 1,471 (32%) Operating Cash Flow Conversion 133% 91% 42% Free Cash Flow 758 1,279 (41%) Adjusted Free Cash Flow4 758 1,286 (41%) Adjusted Free Cash Flow Conversion5 68% 85% (17%) TABLE 3: SUMMARY OF SEGMENT FINANCIAL RESULTS AEROSPACE 3Q 2020 3Q 2019 Change Sales 2,662 3,544 (25%) Organic Growth (25%) Segment Profit 617 908 (32%) Segment Margin 23.2% 25.6% -240 bps HONEYWELL BUILDING TECHNOLOGIES Sales 1,305 1,415 (8%) Organic Growth (8%) Segment Profit 282 297 (5%) Segment Margin 21.6% 21.0% 60 bps PERFORMANCE MATERIALS AND TECHNOLOGIES Sales 2,252 2,670 (16%) Organic Growth (16%) Segment Profit 442 582 (24%) Segment Margin 19.6% 21.8% -220 bps SAFETY AND PRODUCTIVITY SOLUTIONS Sales 1,578 1,457 8% Organic Growth 8% Segment Profit 219 195 12% Segment Margin 13.9% 13.4% 50 bps 1Adjusted EPS and adjusted EPS V% guidance exclude 4Q19 pension mark-to-market, adjustments to the charges taken in connection with the 4Q17 U.S. tax legislation charge, 2Q20 favorable resolution of a foreign tax matter related to the spin-off transactions, and the impact of a non-cash $350M pre-tax and after-tax charge associated with the reduction in carrying value to present value of reimbursement receivables due from Garrett in relation to Garrett's September 20, 2020 Chapter 11 bankruptcy filing 2Adjusted EPS and adjusted EPS V% exclude adjustments to the charges taken in connection with the 4Q17 U.S. tax legislation charge and the impact of a non-cash $350M pre-tax and after-tax charge associated with the reduction in carrying value to present value of reimbursement receivables due from Garrett in relation to Garrett's September 20, 2020 Chapter 11 bankruptcy filing 3As discussed in the notes to the attached reconciliations, we do not provide guidance for margin or EPS on a GAAP basis 4Adjusted free cash flow and adjusted free cash flow V% exclude impacts from separation costs related to the spin-offs of $7M in 3Q19 5Adjusted free cash flow conversion excludes impacts from separation costs related to the spin-offs of $7M in 3Q19, adjustments to the charges taken in connected with the 4Q17 U.S. tax legislation charge, and the impact of a non-cash $350M pre-tax and after-tax charge associated with the reduction in carrying value to present value of reimbursement receivables due from Garrett in relation to Garrett's September 20, 2020 Chapter 11 bankruptcy filing Honeywell (www.honeywell.com) is a Fortune 100 technology company that delivers industry specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help everything from aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom. This release contains certain statements that may be deemed \"forward-looking statements\" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, technological, and COVID-19 public health factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, and other developments, including the potential impact of the COVID-19 pandemic, and business decisions may differ from those envisaged by such forward-looking statements. Any forward-looking plans described herein are not final and may be modified or abandoned at any time. No final decision will be taken with respect to such plans or proposals without prior satisfaction of any applicable requirements with respect to informing, consulting or negotiating with employees or their representatives. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission. This release contains financial measures presented on a non-GAAP basis. Honeywell's non-GAAP financial measures used in this release are as follows: segment profit, on an overall Honeywell basis, a measure by which we assess operating performance, which we define as operating income adjusted for certain items as presented in the Appendix; segment margin, on an overall Honeywell basis, which we define as segment profit divided by sales; organic sales growth, which we define as sales growth less the impacts from foreign currency translation, and acquisitions and divestitures for the first 12 months following transaction date; free cash flow, which we define as cash flow from operations less capital expenditures; adjusted free cash flow, which we define as cash flow from operations less capital expenditures and which we adjust to exclude the impact of separation costs related to the spin-offs of Resideo and Garrett, if and as noted in the release; adjusted free cash flow conversion, which we define as adjusted free cash flow divided by net income attributable to Honeywell, excluding separation costs related to the spin-offs and the impact of a non-cash $350M pre-tax and after-tax charge associated with the reduction in carrying value to present value of reimbursement receivables due from Garrett in relation to Garrett's September 20, 2020 Chapter 11 bankruptcy filing, if and as noted in the release; and adjusted earnings per share, which we adjust to exclude pension mark-to-market, adjustments to the charges taken in connection with the 4Q17 U.S. tax legislation charge, the favorable resolution of a foreign tax matter related to the spin-off transactions, and the impact of a non-cash $350M pre-tax and after-tax charge associated with the reduction in carrying value to present value of reimbursement receivables due from Garrett in relation to Garrett's September 20, 2020 Chapter 11 bankruptcy filing, if and as noted in the release. Management believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. These metrics should be considered in addition to, and not as replacements for, the most comparable GAAP measure. Refer to the Appendix attached to this release for reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures. Honeywell International Inc. Consolidated Statement of Operations (Unaudited) (Dollars in millions, except per share amounts) Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Product sales $ 5,885 $ 6,793 $ 17,933 $ 20,496 Service sales 1,912 2,293 5,804 6,717 Net sales 7,797 9,086 23,737 27,213 Costs, expenses and other Cost of products sold (1) 4,315 4,775 12,852 14,244 Cost of services sold (1) 1,068 1,263 3,341 3,767 5,383 6,038 16,193 18,011 Selling, general and administrative expenses (1) 1,103 1,296 3,524 4,046 Other (income) expense 62 (311) (546) (901) Interest and other financial charges 101 96 264 266 6,649 7,119 19,435 21,422 Income before taxes 1,148 1,967 4,302 5,791 Tax expense (benefit) 367 319 816 1,151 Net income 781 1,648 3,486 4,640 Less: Net income attributable to the noncontrolling interest 23 24 66 59 Net income attributable to Honeywell $ 758 $ 1,624 $ 3,420 $ 4,581 Earnings per share of common stock - basic $ 1.08 $ 2.26 $ 4.85 $ 6.33 Earnings per share of common stock - assuming dilution $ 1.07 $ 2.23 $ 4.81 $ 6.25 Weighted average number of shares outstanding - basic 702.6 717.6 704.8 723.5 Weighted average number of shares outstanding - assuming dilution 709.6 726.7 711.6 732.8 (1) Cost of products and services sold and selling, general and administrative expenses include amounts for repositioning and other charges, the service cost component of pension and other postretirement (income) expense, and stock compensation expense. Honeywell International Inc. Segment Data (Unaudited) (Dollars in millions) Three Months Ended September 30, Nine Months Ended September 30, Net Sales 2020 2019 2020 2019 Aerospace $ 2,662 $ 3,544 $ 8,566 $ 10,393 Honeywell Building Technologies 1,305 1,415 3,763 4,254 Performance Materials and Technologies 2,252 2,670 6,867 7,977 Safety and Productivity Solutions 1,578 1,457 4,541 4,589 Total $ 7,797 $ 9,086 $ 23,737 $ 27,213 Reconciliation of Segment Profit to Income Before Taxes Three Months Ended September 30, Nine Months Ended September 30, Segment Profit 2020 2019 2020 2019 Aerospace $ 617 $ 908 $ 2,082 $ 2,653 Honeywell Building Technologies 282 297 794 868 Performance Materials and Technologies 442 582 1,373 1,790 Safety and Productivity Solutions 219 195 610 598 Corporate (7) (54) (73) (202) Total segment profit 1,553 1,928 4,786 5,707 Interest and other financial charges (101) (96) (264) (266) Stock compensation expense (1) (40) (37) (118) (112) Pension ongoing income (2) 197 150 593 449 Other postretirement income (2) 13 12 40 35 Repositioning and other charges (3,4) (144) (96) (486) (306) Other (5) (330) 106 (249) 284 Income before taxes $ 1,148 $ 1,967 $ 4,302 $ 5,791 (1) Amounts included in Selling, general and administrative expenses. (2) Amounts included in Cost of products and services sold and Selling, general and administrative expenses (service costs) and Other income/expense (non-service cost components). (3) Amounts included in Cost of products and services sold, Selling, general and administrative expenses, and Other income/expense. (4) Includes repositioning, asbestos, and environmental expenses. (5) Amounts include the other components of Other income/expense not included within other categories in this reconciliation. Equity income (loss) of affiliated companies is included in segment profit. Honeywell International Inc. Consolidated Balance Sheet (Unaudited) (Dollars in millions) September 30, 2020 December 31, 2019 ASSETS Current assets: Cash and cash equivalents $ 14,036 $ 9,067 Short-term investments 972 1,349 Accounts receivable - net 6,878 7,493 Inventories 4,705 4,421 Other current assets 1,609 1,973 Total current assets 28,200 24,303 Investments and long-term receivables 673 588 Property, plant and equipment - net 5,419 5,325 Goodwill 15,666 15,563 Other intangible assets - net 3,494 3,734 Insurance recoveries for asbestos related liabilities 374 392 Deferred income taxes 154 86 Other assets 9,479 8,688 Total assets $ 63,459 $ 58,679 LIABILITIES Current liabilities: Accounts payable $ 5,270 $ 5,730 Commercial paper and other short-term borrowings 3,550 3,516 Current maturities of long-term debt 985 1,376 Accrued liabilities 7,379 7,476 Total current liabilities 17,184 18,098 Long-term debt 17,687 11,110 Deferred income taxes 1,474 1,670 Postretirement benefit obligations other than pensions 309 326 Asbestos related liabilities 1,845 1,996 Other liabilities 6,640 6,766 Redeemable noncontrolling interest 7 7 Shareowners' equity 18,313 18,706 Total liabilities, redeemable noncontrolling interest and shareowners' equity $ 63,459 $ 58,679 Honeywell International Inc. Consolidated Statement of Cash Flows (Unaudited) (Dollars in millions) Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Cash flows from operating activities: Net income $ 781 $ 1,648 $ 3,486 $ 4,640 Less: Net income attributable to the noncontrolling interest 23 24 66 59 Net income attributable to Honeywell 758 1,624 3,420 4,581 Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities: Depreciation 166 165 480 500 Amortization 89 98 268 319 Repositioning and other charges 144 96 486 306 Net payments for repositioning and other charges (343) (72) (652) (157) Pension and other postretirement income (210) (162) (633) (484) Pension and other postretirement benefit payments (14) (5) (37) (50) Stock compensation expense 40 37 118 112 Deferred income taxes (12) (342) (289) (298) Reimbursement receivables charge 350 350 Other (84) 93 (369) 98 Changes in assets and liabilities, net of the effects of acquisitions and divestitures: Accounts receivable (161) (176) 615 (78) Inventories 47 (3) (284) (276) Other current assets 140 171 246 (68) Accounts payable (96) (81) (460) (89) Accrued liabilities 193 28 167 (133) Net cash provided by (used for) operating activities 1,007 1,471 3,426 4,283 Cash flows from investing activities: Expenditures for property, plant and equipment (249) (192) (615) (504) Proceeds from disposals of property, plant and equipment 10 31 17 41 Increase in investments (700) (944) (2,371) (3,218) Decrease in investments 1,045 1,155 2,634 3,318 Receipts (payments) from settlements of derivative contracts (158) 175 (75) 245 Other (4) (4) Net cash provided by (used for) investing activities (52) 221 (410) (122) Cash flows from financing activities: Proceeds from issuance of commercial paper and other short-term borrowings 1,412 3,178 8,577 10,292 Payments of commercial paper and other short-term borrowings (1,418) (3,178) (8,512) (10,293) Proceeds from issuance of common stock 66 47 163 425 Proceeds from issuance of long-term debt 3,004 2,696 10,105 2,725 Payments of long-term debt (3,019) (36) (4,237) (120) Repurchases of common stock (164) (1,000) (2,149) (3,650) Cash dividends paid (636) (595) (1,921) (1,798) Other (14) (40) (54) (72) Net cash provided by (used for) financing activities (769) 1,072 1,972 (2,491) Effect of foreign exchange rate changes on cash and cash equivalents 72 (81) (19) (49) Net increase (decrease) in cash and cash equivalents 258 2,683 4,969 1,621 Cash and cash equivalents at beginning of period 13,778 8,225 9,067 9,287 Cash and cash equivalents at end of period $ 14,036 $ 10,908 $ 14,036 $ 10,908 Honeywell International Inc. Reconciliation of Organic Sales % Change (Unaudited) Three Months Ended September 30, 2020 Honeywell Reported sales % change (14)% Less: Foreign currency translation % Less: Acquisitions, divestitures and other, net % Organic sales % change (14)% Aerospace Reported sales % change (25)% Less: Foreign currency translation % Less: Acquisitions, divestitures and other, net % Organic sales % change (25)% Honeywell Building Technologies Reported sales % change (8)% Less: Foreign currency translation % Less: Acquisitions, divestitures and other, net % Organic sales % change (8)% Performance Materials and Technologies Reported sales % change (16)% Less: Foreign currency translation % Less: Acquisitions, divestitures and other, net % Organic sales % change (16)% Safety and Productivity Solutions Reported sales % change 8% Less: Foreign currency translation % Less: Acquisitions, divestitures and other, net % Organic sales % change 8% We define organic sales percent as the year-over-year change in reported sales relative to the comparable period, excluding the impact on sales from foreign currency translation and acquisitions, net of divestitures. We believe this measure is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. A quantitative reconciliation of reported sales percent change to organic sales percent change has not been provided for forward-looking measures of organic sales percent change because management cannot reliably predict or estimate, without unreasonable effort, the fluctuations in global currency markets that impact foreign currency translation, nor is it reasonable for management to predict the timing, occurrence and impact of acquisition and divestiture transactions, all of which could significantly impact our reported sales percent change. Honeywell International Inc. Reconciliation of Segment Profit to Operating Income and Calculation of Segment Profit and Operating Income Margins (Unaudited) (Dollars in millions) Three Months Ended September 30, 2020 2019 Segment profit $ 1,553 $ 1,928 Stock compensation expense (1) (40) (37) Repositioning, Other (2,3) (161) (109) Pension and other postretirement service costs (4) (41) (30) Operating income $ 1,311 $ 1,752 Segment profit $ 1,553 $ 1,928 Net sales $ 7,797 $ 9,086 Segment profit margin % 19.9 % 21.2 % Operating income $ 1,311 $ 1,752 Net sales $ 7,797 $ 9,086 Operating income margin % 16.8 % 19.3 % (1) Included in Selling, general and administrative expenses. (2) Includes repositioning, asbestos, environmental expenses and equity income adjustment. (3) Included in Cost of products and services sold, Selling, general and administrative expenses and Other income/expense. (4) Included in Cost of products and services sold and Selling, general and administrative expenses. We define segment profit as operating income, excluding stock compensation expense, pension and other postretirement service costs, and repositioning and other charges. We believe these measures are useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. Honeywell International Inc. Reconciliation of Earnings per Share to Adjusted Earnings per Share (Unaudited) Three Months Ended September 30, Three Months Ended June 30, 2020 Three Months Ended December 31, 2019 Twelve Months Ended December 31, 2019 2020 2019 Earnings per share of common stock - assuming dilution (1) $ 1.07 $ 2.23 $ 1.53 $ 2.16 $ 8.41 Pension mark-to-market expense (2) 0.13 0.13 Separation-related tax adjustment (3) (0.27) Impacts from U.S. Tax Reform (0.15) (0.23) (0.38) Reimbursement receivable charge (4) $ 0.49 Adjusted earnings per share of common stock - assuming dilution $ 1.56 $ 2.08 $ 1.26 $ 2.06 $ 8.16 (1) For the three months ended September 30, 2020 and 2019, adjusted earnings per share utilizes weighted average shares of approximately 709.6 million and 726.7 million. For the three months ended June 30, 2020, adjusted earnings per share utilizes weighted average shares of approximately 708.1 million. For the three and twelve months ended December 31, 2019 adjusted earnings per share utilizes weighted average shares of approximately 722.6 million and 730.3. (2) Pension mark-to-market expense uses a blended tax rate of 24% for 2019. (3) For the three months ended June 30, 2020, separation-related tax adjustment of $186 million ($186 million net of tax) includes the favorable resolution of a foreign tax matter related to the spin-off transactions. (4) The impact due to a non-cash $350M pre-tax and after-tax charge associated with the reduction in carrying value to present value of reimbursement receivables due from Garrett in relation to Garrett's September 20, 2020 Chapter 11 bankruptcy filing. Honeywell International Inc. Reconciliation of Cash Provided by Operating Activities to Adjusted Free Cash Flow and Calculation of Adjusted Free Cash Flow Conversion (Unaudited) (Dollars in millions) Three Months Ended September 30, 2020 Three Months Ended September 30, 2019 Cash provided by operating activities $ 1,007 $ 1,471 Expenditures for property, plant and equipment (249) (192) Free cash flow 758 1,279 Separation cost payments 7 Adjusted free cash flow $ 758 $ 1,286 Net income attributable to Honeywell 758 1,624 Impacts from U.S. Tax Reform (114) Reimbursement receivable charge (1) 350 Adjusted net income attributable to Honeywell $ 1,108 $ 1,510 Cash provided by operating activities $ 1,007 $ 1,471 Net income (loss) attributable to Honeywell $ 758 $ 1,624 Operating cash flow conversion 133 % 91 % Adjusted free cash flow $ 758 $ 1,286 Adjusted net income attributable to Honeywell $ 1,108 $ 1,510 Adjusted free cash flow conversion % 68 % 85 % (1) A non-cash $350M pre-tax and after-tax charge associated with the reduction in carrying value to present value of reimbursement receivables due from Garrett in relation to Garrett's September 20, 2020 Chapter 11 bankruptcy filing. We define free cash flow as cash provided by operating activities less cash expenditures for property, plant and equipment. We believe that this metric is useful to investors and management as a measure of cash generated by business operations that will be used to repay scheduled debt maturities and can be used to invest in future growth through new business development activities or acquisitions, pay dividends, repurchase stock or repay debt obligations prior to their maturities. This metric can also be used to evaluate our ability to generate cash flow from business operations and the impact that this cash flow has on our liquidity. Honeywell International Inc. Reconciliation of Segment Profit to Operating Income and Calculation of Segment Profit and Operating Income Margins (Unaudited) (Dollars in millions) Three Months Ended December 31, 2019 Twelve Months Ended December 31, 2019 Three Months Ended June 30, 2020 Segment profit $ 2,032 $ 7,739 $ 1,385 Stock compensation expense (1) (41) (153) (34) Repositioning, Other (2,3) (259) (598) (295) Pension and other postretirement service costs (4) (37) (137) (38) Operating income $ 1,695 $ 6,851 $ 1,018 Segment profit $ 2,032 $ 7,739 $ 1,385 Net sales $ 9,496 $ 36,709 $ 7,477 Segment profit margin % 21.4 % 21.1 % 18.5 % Operating income $ 1,695 $ 6,851 $ 1,018 Net sales $ 9,496 $ 36,709 $ 7,477 Operating income margin % 17.8 % 18.7 % 13.6 % (1) Included in Selling, general and administrative expenses. (2) Includes repositioning, asbestos, environmental expenses and equity income adjustment. (3) Included in Cost of products and services sold, Selling, general and administrative expenses and Other income/expense. (4) Included in Cost of products and services sold and Selling, general and administrative expenses. We define segment profit as operating income, excluding stock compensation expense, pension and other postretirement service costs, and repositioning and other charges. We believe these measures are useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. A quantitative reconciliation of segment profit, on an overall Honeywell basis, to operating income has not been provided for all forward-looking measures of segment profit and segment margin included herewithin. Management cannot reliably predict or estimate, without unreasonable effort, the impact and timing on future operating results arising from items excluded from segment profit, particularly pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. The information that is unavailable to provide a quantitative reconciliation could have a significant impact on our reported financial results. To the extent quantitative information becomes available without unreasonable effort in the future, and closer to the period to which the forward-looking measures pertain, a reconciliation of segment profit to operating income will be included within future filings. Honeywell International Inc. Reconciliation of Expected Earnings per Share to Adjusted Earnings per Share (Unaudited) Three Months EndedDecember 31, 2020 (E) Twelve Months Ended December 31, 2020 (E) Earnings per share of common stock - assuming dilution (1) $1.97 - $2.02 $6.78 - $6.83 Pension mark-to-market expense Separation-related tax adjustment (2) (0.27) Reimbursement receivable charge (3) 0.49 Adjusted earnings per share of common stock - assuming dilution $1.97 - $2.02 $7.00 - $7.05 (1) For the three and twelve months ended December 31, 2020, expected adjusted earnings per share utilizes weighted average shares of approximately 710 million and 711 million. (2) For the twelve months ended December 31, 2020, separation-related tax adjustment of $186 million ($186 million net of tax) includes the favorable resolution of a foreign tax matter related to the spin-off transactions. (3) The impact due to a non-cash $350M pre-tax and after-tax charge associated with the reduction in carrying value to present value of reimbursement receivables due from Garrett in relation to Garrett's September 20, 2020 Chapter 11 bankruptcy filing. We believe adjusted earnings per share, is a measure that is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. For forward looking information, management cannot reliably predict or estimate, without unreasonable effort, the pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. We therefore do not include an estimate for the pension mark-to-market expense. Based on economic and industry conditions,
Chinese News:
进博会为东西方企业齐聚一堂、展示各自创新成果和交流经验提供了契机，有助于建立更多的联系，是个绝佳的平台。” 美国霍尼韦尔公司全球高增长地区总裁沈达理近日在接受记者专访时说。沈达理说，今年的进博会霍尼韦尔带来了涵盖安全保障、能源效率等多个领域的创新技术和产品。“我们非常支持进博会，因为它是彰显中国经济动能的重要部分。”他说。霍尼韦尔是第一批参加首届进博会的跨国公司，2019年第二届进博会上，霍尼韦尔的展位面积比2018年扩大了三倍。霍尼韦尔在过去两届进博会上展示了多项智能互联、节能环保和安全防护创新技术，同时与中国企业签署了合作协议，涉及互联工厂、智慧建筑、智慧医疗、飞机维修等，携手客户共创互联、安全和可持续的美好未来。沈达理表示，中国是目前唯一呈现稳步复苏态势的主要经济体。经济转入正轨，需要“人们有信心走出去参与经济活动”，中国在谨慎应对疫情、注入社会信心等方面，“处理得很稳妥”。作为最早进入中国的美资企业之一，霍尼韦尔向来重视中国市场，看好其发展前景。沈达理说，跨国公司需要关注全球趋势，其投资、战略布局、产品和服务都要反映全球增长的现实，“我们的核心战略是与中国一起动态发展，真正成为中国本土企业。”沈达理认为，中国不单单是个进口或出口市场，也是重要的生产制造和创新之地，所以我们力求在中国市场拥有一席之地，以更好地抓住中国本土市场活力所带来的巨大机遇。“早在15、16年前，我们就意识到中国不仅是一个庞大的市场，也是一个充满活力的全球经济体，作为真正意义上的全球跨国公司，我们需充分参与中国的动态增长。”他说。在中国，霍尼韦尔长期以创新来推动增长，贯彻“东方服务于东方”和“东方服务于全球”的战略。目前，霍尼韦尔四大业务集团均已落户中国，在中国30多个城市拥有50多家独资公司和合资企业.
Japanese News:
ハネウェル・インターナショナル［HON］決算：1株利益は2.58ドルで市場予想を上回る ハネウェル・インターナショナルは、旧式のサーモスタット装置を製造し、1885年にアルバート・バッツによって創設されたButz－Thermo Electric Regulatorを前身とする。他の発明には、生分解性洗剤や自動操縦などがある。現在は、世界的に多様な産業へと対応する巨大企業であり、最大規模の設備のインストールベースを有する1社である。エアロスペース・テクノロジーズ（2023年の会社収益の37％）、インダストリアル・オートメーション（同29％）、エネルギーおよび持続可能性ソリューション（同17％）、ビルディング・オートメーション（同17％）の4つの事業部門で事業を展開している。より少数の最終市場に焦点を当て、一連の長期的な成長トレンドに合わせていくつかのポートフォリオ変更を行っている。インストールベースの拡大に熱心に取り組んでおり、収益の30％を定期的なアフターマーケットサービスから得ている。
Spanish News:
Wall Street abrió con retrocesos generalizados este viernes y su principal indicador, el Dow Jones de Industriales, bajaba un 0,33 %, apuntalando lo que parece que cerrará como la peor semana en las operaciones bursátiles de Nueva York desde mediados de marzo, cuando comenzó a extenderse la pandemia en Europa y Estados Unidos. Al inicio de las operaciones a las 9.30 (13.30 GMT) en la Bolsa de Nueva York, el Dow Jones bajaba 86,84 puntos, hasta 26.572,27 unidades, con Apple (-3,64 %) liderando las caídas de los 30 grandes valores del parqué, mientras que le seguían Honeywell (-0,85%) y Caterpillar (-0,84%). El selectivo S&P 500, por su parte, perdía un 0,51 % o 16,99 puntos, hasta 3.293,12 unidades; y el índice compuesto Nasdaq, en el que cotizan las principales tecnológicas, sufría la mayor caída con un retroceso del 0,75 %, equivalente a 96.52 puntos, hasta los 11.089,07 enteros. Los sectores que caían con más fuerza en los primeros compases de la jornada eran los de bienes no esenciales (-1,20 %), el tecnológico (-1,19 %) y el energético (-0,58 %), mientras que solo los de comunicaciones (1,43%) y el de salud (0,23%) se mantenían en positivo. En lo que va de semana el Dow Jones ha perdido cerca de un 6 %, con lo que podría cerrar esta semana negra como la peor desde el 20 de marzo, lo que pone de relieve la percepción de los inversores sobre el impacto de la segunda ola de covid-19 en el mundo a las puertas del invierno boreal. La volatilidad está a niveles máximos desde junio, por las incertidumbre sobre el avance de la pandemia en Europa y Estados Unidos y la inminencia de las elecciones generales en el país norteamericano que podrían ver un cambio en la Casa Blanca a favor del demócrata Joe Biden frente al presidente Donald Trump. "Las políticas de estímulo, los desarrollos médicos positivos y las esperanzas en el retorno a los niveles de actividad económica pre-pandemia han provisto mejoras en los mercados de activos. No obstante, las nuevas restricciones económicas, especialmente en Europa, pese a que eran predecibles llamaron la atención de los inversores esta semana, contribuyendo a las fuertes pérdidas", resumió la firma de análisis de mercados MRB Partners en una nota. En otros mercados, el petróleo de Texas caía media hora después de iniciarse las cotizaciones un 1,35 %, a 35,68 dólares el barril; el oro ascendía a 1.887,40 dólares la onza; el rendimiento del bono del Tesoro a 10 años subía a 0,839 % y el dólar perdía terreno frente al euro, con un cambio de 1,1684.
Greek News:
Η εταιρία Honeywell, γνωστή κυρίως ως κολοσσός στον βιομηχανικό και τεχνολογικό τομέα, επεκτείνει τη παρουσία της στην αναδυόμενη αγορά του Quantum Computing. Παρουσιάζοντας το νέο της σύστημα Μοδελ Η1, η εταιρία αξιοποεί την τεχνολογία των παγιδευμένων ιόντων, προσφέροντας 10 πλήρως συνδεδεμένα qubits, και επιτυγχάνει Quantum Volume 128. Το H1 θα είναι διαθέσιμο μέσω της πλατφόρμας Azure Quantum, με τη στήριξη εταιριών όπως η Zapata Computing και η Cambridge Quantum Computing. Παρά του φιλόδοξου ισχυρισμού της εταιρίας IonQ για υλοποίηση αντίστοιχου έργου με Quantum Volume τουλάχιστον 4.000.000, η Honeywell υπερβαίνει τους ανταγωνιστές της, όπως την IBM, δίνοντας έμφαση στην ποιότητα και σταθερότητα των qubits της. Η εταιρία αποδίδει την τεχνολογική της πρόοδο στην πολυετή εμπειρία της στα συστήματα ελέγχου, εμπειρία η οποία επέτρεψε τη δημιουργία μιας ιδιαίτερα σταθερής παγίδας ιόντως, ενισχύοντας τη δυνατότητα διόρθωσης σφαλμάτων. Ωστόσο, στο οικονομικό μέτωπο, τα αποτελέσματα του τρίτου τριμήνου του 2020 καταγράφουν πτώση. Η Honeywell ανακοίνωσε καθαρό εισόδημα ύψους 781 εκατομμυρίων δολαρίων για την περίοδο που έληξε στις 30 Σεπτεμβρίου, σημαντικά μειωμένο σε σχέση με τα 1,648 δισεκατομμύρια δολάρια του αντίστοιχου τριμήνου το 2019. Η εξέλιξη αυτή αντικατοπτρίζει τις προκλήσεις που αντιμετωπίζει η εταιρεία στο ευρύτερο οικονομικό περιβάλλον, ακόμη και καθώς επενδύει σε τεχνολογίες αιχμής.
Question:
What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: Honeywell cut costs of $450M in Q3 savings, expecting $1.5B–$1.6B for FY2020; focused on higher-margin segments such as software, defense and space, and PPE.
Financial Statement Evidence: Honeywell’s gross profit in Q3 FY2020 was $2.4B compared to $3.0B in Q3 FY2019. Net income dropped from $1.6B to $758M. |
HON_20201030 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:------------------------------------------------------------------------------|:----------------------|:-----------|:------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | September 30, 2020 | | December 31, 2019 | | | | | | | | |
| | (Dollars in millions) | | | | | | | | | | |
| ASSETS | | | | | | | | | | | |
| Current assets: | | | | | | | | | | | |
| Cash and cash equivalents | $ | 14,036 | | | $ | 9,067 | | | | | |
| Short-term investments | 972 | | | 1,349 | | | | | | | |
| Accounts receivable - net | 6,878 | | | 7,493 | | | | | | | |
| Inventories | 4,705 | | | 4,421 | | | | | | | |
| Other current assets | 1,609 | | | 1,973 | | | | | | | |
| Total current assets | 28,200 | | | 24,303 | | | | | | | |
| Investments and long-term receivables | 673 | | | 588 | | | | | | | |
| Property, plant and equipment - net | 5,419 | | | 5,325 | | | | | | | |
| Goodwill | 15,666 | | | 15,563 | | | | | | | |
| Other intangible assets - net | 3,494 | | | 3,734 | | | | | | | |
| Insurance recoveries for asbestos related liabilities | 374 | | | 392 | | | | | | | |
| Deferred income taxes | 154 | | | 86 | | | | | | | |
| Other assets | 9,479 | | | 8,688 | | | | | | | |
| Total assets | $ | 63,459 | | | $ | 58,679 | | | | | |
| LIABILITIES | | | | | | | | | | | |
| Current liabilities: | | | | | | | | | | | |
| Accounts payable | $ | 5,270 | | | $ | 5,730 | | | | | |
| Commercial paper and other short-term borrowings | 3,550 | | | 3,516 | | | | | | | |
| Current maturities of long-term debt | 985 | | | 1,376 | | | | | | | |
| Accrued liabilities | 7,379 | | | 7,476 | | | | | | | |
| Total current liabilities | 17,184 | | | 18,098 | | | | | | | |
| Long-term debt | 17,687 | | | 11,110 | | | | | | | |
| Deferred income taxes | 1,474 | | | 1,670 | | | | | | | |
| Postretirement benefit obligations other than pensions | 309 | | | 326 | | | | | | | |
| Asbestos related liabilities | 1,845 | | | 1,996 | | | | | | | |
| Other liabilities | 6,640 | | | 6,766 | | | | | | | |
| Redeemable noncontrolling interest | 7 | | | 7 | | | | | | | |
| SHAREOWNERS’ EQUITY | | | | | | | | | | | |
| Capital - common stock issued | 958 | | | 958 | | | | | | | |
| - additional paid-in capital | 7,155 | | | 6,876 | | | | | | | |
| Common stock held in treasury, at cost | (25,806) | | | (23,836) | | | | | | | |
| Accumulated other comprehensive loss | (3,436) | | | (3,197) | | | | | | | |
| Retained earnings | 39,203 | | | 37,693 | | | | | | | |
| Total Honeywell shareowners’ equity | 18,074 | | | 18,494 | | | | | | | |
| Noncontrolling interest | 239 | | | 212 | | | | | | | |
| Total shareowners’ equity | 18,313 | | | 18,706 | | | | | | | |
| Total liabilities, redeemable noncontrolling interest and shareowners’ equity | $ | 63,459 | | | $ | 58,679 | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:------------------------------------------------------------------------------------------------------------|:--------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | Nine Months Ended September 30, | | | | | | | | | | |
| | 2020 | | 2019 | | | | | | | | |
| | (Dollars in millions) | | | | | | | | | | |
| Cash flows from operating activities: | | | | | | | | | | | |
| Net income | $ | 3,486 | | | $ | 4,640 | | | | | |
| Less: Net income attributable to the noncontrolling interest | 66 | | | 59 | | | | | | | |
| Net income attributable to Honeywell | 3,420 | | | 4,581 | | | | | | | |
| Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities: | | | | | | | | | | | |
| Depreciation | 480 | | | 500 | | | | | | | |
| Amortization | 268 | | | 319 | | | | | | | |
| | | | | | | | | | | | |
| Repositioning and other charges | 486 | | | 306 | | | | | | | |
| Net payments for repositioning and other charges | (652) | | | (157) | | | | | | | |
| Pension and other postretirement income | (633) | | | (484) | | | | | | | |
| Pension and other postretirement benefit payments | (37) | | | (50) | | | | | | | |
| Stock compensation expense | 118 | | | 112 | | | | | | | |
| Deferred income taxes | (289) | | | (298) | | | | | | | |
| Reimbursement receivables charge | 350 | | | — | | | | | | | |
| Other | (369) | | | 98 | | | | | | | |
| Changes in assets and liabilities, net of the effects of acquisitions and divestitures: | | | | | | | | | | | |
| Accounts receivable | 615 | | | (78) | | | | | | | |
| Inventories | (284) | | | (276) | | | | | | | |
| Other current assets | 246 | | | (68) | | | | | | | |
| Accounts payable | (460) | | | (89) | | | | | | | |
| Accrued liabilities | 167 | | | (133) | | | | | | | |
| Net cash provided by (used for) operating activities | 3,426 | | | 4,283 | | | | | | | |
| Cash flows from investing activities: | | | | | | | | | | | |
| Expenditures for property, plant and equipment | (615) | | | (504) | | | | | | | |
| Proceeds from disposals of property, plant and equipment | 17 | | | 41 | | | | | | | |
| Increase in investments | (2,371) | | | (3,218) | | | | | | | |
| Decrease in investments | 2,634 | | | 3,318 | | | | | | | |
| Receipts (payments) from settlements of derivative contracts | (75) | | | 245 | | | | | | | |
| Other | — | | | (4) | | | | | | | |
| Net cash provided by (used for) investing activities | (410) | | | (122) | | | | | | | |
| Cash flows from financing activities: | | | | | | | | | | | |
| Proceeds from issuance of commercial paper and other short-term borrowings | 8,577 | | | 10,292 | | | | | | | |
| Payments of commercial paper and other short-term borrowings | (8,512) | | | (10,293) | | | | | | | |
| Proceeds from issuance of common stock | 163 | | | 425 | | | | | | | |
| Proceeds from issuance of long-term debt | 10,105 | | | 2,725 | | | | | | | |
| Payments of long-term debt | (4,237) | | | (120) | | | | | | | |
| Repurchases of common stock | (2,149) | | | (3,650) | | | | | | | |
| Cash dividends paid | (1,921) | | | (1,798) | | | | | | | |
| Other | (54) | | | (72) | | | | | | | |
| Net cash provided by (used for) financing activities | 1,972 | | | (2,491) | | | | | | | |
| Effect of foreign exchange rate changes on cash and cash equivalents | (19) | | | (49) | | | | | | | |
| Net increase (decrease) in cash and cash equivalents | 4,969 | | | 1,621 | | | | | | | |
| Cash and cash equivalents at beginning of period | 9,067 | | | 9,287 | | | | | | | |
| Cash and cash equivalents at end of period | $ | 14,036 | | | $ | 10,908 | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 | Column 22 | Column 23 | Column 24 |
|:-------------------------------------------------------------|:------------------------------------------------|:-----------|:--------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | | | | |
| | Three Months Ended September 30, | | Nine Months Ended September 30, | | | | | | | | | | | | | | | | | | | | |
| | 2020 | | 2019 | | 2020 | | 2019 | | | | | | | | | | | | | | | | |
| | (Dollars in millions, except per share amounts) | | | | | | | | | | | | | | | | | | | | | | |
| Product sales | $ | 5,885 | | | $ | 6,793 | | | $ | 17,933 | | | $ | 20,496 | | | | | | | | | |
| Service sales | 1,912 | | | 2,293 | | | 5,804 | | | 6,717 | | | | | | | | | | | | | |
| Net sales | 7,797 | | | 9,086 | | | 23,737 | | | 27,213 | | | | | | | | | | | | | |
| Costs, expenses and other | | | | | | | | | | | | | | | | | | | | | | | |
| Cost of products sold | 4,315 | | | 4,775 | | | 12,852 | | | 14,244 | | | | | | | | | | | | | |
| Cost of services sold | 1,068 | | | 1,263 | | | 3,341 | | | 3,767 | | | | | | | | | | | | | |
| | 5,383 | | | 6,038 | | | 16,193 | | | 18,011 | | | | | | | | | | | | | |
| Selling, general and administrative expenses | 1,103 | | | 1,296 | | | 3,524 | | | 4,046 | | | | | | | | | | | | | |
| Other (income) expense | 62 | | | (311) | | | (546) | | | (901) | | | | | | | | | | | | | |
| Interest and other financial charges | 101 | | | 96 | | | 264 | | | 266 | | | | | | | | | | | | | |
| | 6,649 | | | 7,119 | | | 19,435 | | | 21,422 | | | | | | | | | | | | | |
| Income before taxes | 1,148 | | | 1,967 | | | 4,302 | | | 5,791 | | | | | | | | | | | | | |
| Tax expense (benefit) | 367 | | | 319 | | | 816 | | | 1,151 | | | | | | | | | | | | | |
| Net income | 781 | | | 1,648 | | | 3,486 | | | 4,640 | | | | | | | | | | | | | |
| Less: Net income attributable to the noncontrolling interest | 23 | | | 24 | | | 66 | | | 59 | | | | | | | | | | | | | |
| Net income attributable to Honeywell | $ | 758 | | | $ | 1,624 | | | $ | 3,420 | | | $ | 4,581 | | | | | | | | | |
| Earnings per share of common stock - basic | $ | 1.08 | | | $ | 2.26 | | | $ | 4.85 | | | $ | 6.33 | | | | | | | | | |
| Earnings per share of common stock - assuming dilution | $ | 1.07 | | | $ | 2.23 | | | $ | 4.81 | | | $ | 6.25 | | | | | | | | | |
---
English News:
"Honeywell Reports Third-Quarter EPS Of $1.07, Adjusted EPS Of $1.56; Generates Sequential Sales And Segment Profit Growth In All Segments - CHARLOTTE, N.C., Oct. 30, 2020 /PRNewswire/ -- Honeywell (NYSE: HON) today announced results for the third quarter of 2020, which improved sequentially versus the second quarter of 2020. The company reported a third-quarter year-over-year sales decline of 14% reported and organic, operating margin contraction of 250 basis points, and segment margin contraction of 130 basis points, with adjusted earnings per share2 of $1.56. \"I am pleased with the quarter-over-quarter improvements in sales growth, margin expansion and adjusted earnings per share that we delivered in the third quarter,\" said Darius Adamczyk, chairman and chief executive officer of Honeywell. \"We continued to focus on driving sales growth in areas that have not been as impacted by the current downturn, including defense and space, warehouse automation and personal protective equipment, all of which grew by double-digits organically year-over-year. Recurring software sales also grew double-digits organically, continuing our transformation to a premier software-industrial company. \"We also focused on aggressively managing cost, and delivered over $450 million in savings in the quarter, bringing our year-to-date total to $1.1 billion. We now expect to generate $1.5 billion to $1.6 billion of cost savings during 2020, up from our previous estimate of $1.4 billion to $1.6 billion,\" Adamczyk continued. \"Honeywell's balance sheet remains strong, with $15 billion of cash and short-term investments on hand, and we further enhanced our financial flexibility this quarter by issuing $3 billion of bonds at attractive rates and repaying in full the $3 billion term loan borrowed earlier this year. Capital deployment remains a focus for us. In the third quarter, we resumed opportunistic share repurchases and announced the 11th consecutive increase to our dividend. We also recently announced two acquisitions that will provide emerging technologies in our Aerospace business. I am confident we are well-positioned for the economic recovery.\" Adamczyk concluded, \"Last month we celebrated two significant milestones: Honeywell's 100th anniversary on the New York Stock Exchange and our return to the Dow Jones Industrial Average. Honeywell is a company that has weathered the toughest of times and emerged from them stronger than before. This crisis is no exception. We have moved very quickly to introduce new offerings to help people get back to the workplace, back to play, back to travel, and back to life, and I am pleased with the strong demand we are seeing for these solutions. We remain focused on cost management and execution, while also investing in new markets and new technologies that will shape the next 100 years for our customers, shareowners and employees.\" Honeywell expects fourth quarter sales of $8.2 billion to $8.5 billion, representing a year-over-year organic sales decline of 11% to 14%; segment margin of 21.1% to 21.3%, down 10 to 30 basis points; and earnings per share of $1.97 to $2.02, down 2% to 4% adjusted. Full-year sales are expected to be in the range of $31.9 billion to $32.2 billion, representing a year-over-year organic sales decline of 12% to 13%; segment margin of 20.4% to 20.5%, down 60 to 70 basis points; and adjusted earnings per share1 of $7.00 to $7.05, down 14%. A summary of the company's 2020 guidance can be found in Table 1. Adjusted EPS in the headline excludes the impact of a non-cash $350M pre-tax and after-tax charge associated with the reduction in carrying value to present value of reimbursement receivables due from Garrett in relation to Garrett's September 20, 2020 Chapter 11 bankruptcy filing Third-Quarter PerformanceHoneywellsales for the third quarter were down 14% on a reported and organic basis. The third-quarter financial results can be found in Tables 2 and 3. Aerospacesales for the third quarter were down 25% on an organic basis driven by lower commercial aftermarket demand due to the ongoing impact of reduced flight hours and lower volumes in commercial original equipment, partially offset by double-digit growth in Defense and Space. Segment margin contracted 240 basis points to 23.2% driven by lower volumes and sales mix. Honeywell Building Technologiessales for the third quarter were down 8% on an organic basis driven by lower demand for building products and delays in Building Solutions projects, partially offset by growth in the services verticals. Segment margin expanded 60 basis points to 21.6%. Margin performance was driven by commercial excellence and productivity actions. Performance Materials and Technologies sales for the third quarter were down 16% on an organic basis driven by delays in Process Solutions services and automation projects as well as volume declines in smart energy; lower gas processing projects, catalyst shipments, licensing, and engineering due to softness in the oil and gas sector in UOP; and lower fluorine products volumes in Advanced Materials, partially offset by packaging and composites growth. Segment margin contracted 220 basis points to 19.6% driven by the impact of lower sales volumes, partially offset by productivity actions. Safety and Productivity Solutionssales for the third quarter were up 8% on an organic basis driven by double-digit Intelligrated and personal protective equipment growth as well as a return to growth in productivity solutions and services, partially offset by lower gas sensing volumes. Orders were up double-digits year-over-year for the fourth straight quarter, driven by approximately 150% personal protective equipment orders growth, and backlog remained at a record high. Segment margin expanded 50 basis points to 13.9% driven by productivity actions and commercial excellence. Conference Call DetailsHoneywell will discuss its third-quarter results and fourth-quarter outlook during an investor conference call starting at 8:30 a.m. Eastern Daylight Time today. To participate on the conference call, please dial (866) 548-4713 (domestic) or (323) 794-2093 (international) approximately ten minutes before the 8:30 a.m. EDT start.Please mention to the operator that you are dialing in for Honeywell's third-quarter 2020 earnings call or provide the conference code HON3Q20. The live webcast of the investor call as well as related presentation materials will be available through the Investor Relations section of the company's website (www.honeywell.com/investor). Investors can hear a replay of the conference call from 12:30 p.m. EDT, October 30, until 12:30 p.m. EST, November 6, by dialing (888) 203-1112 (domestic) or (719) 457-0820 (international). The access code is 1772801. TABLE 1: 4Q AND FULL-YEAR 2020 GUIDANCE3 4Q Guidance FY Guidance Sales $8.2B - $8.5B $31.9B - $32.2B Organic Growth Down (14%) - (11%) Down (13%) - (12%) Segment Margin 21.1% - 21.3% 20.4% - 20.5% Expansion Down (30) - (10) bps Down (70) - (60) bps Earnings Per Share $1.97 - $2.02 $6.78 - $6.83 Adjusted Earnings Per Share1 $1.97 - $2.02 $7.00 - $7.05 Adjusted Earnings Growth1 Down (4%) - (2%) Down (14%) TABLE 2: SUMMARY OF HONEYWELL FINANCIAL RESULTS 3Q 2020 3Q 2019 Change Sales 7,797 9,086 (14%) Organic Growth (14%) Segment Margin 19.9% 21.2% -130 bps Operating Income Margin 16.8% 19.3% -250 bps Earnings Per Share $1.07 $2.23 (52%) Adjusted Earnings Per Share2 $1.56 $2.08 (25%) Cash Flow from Operations 1,007 1,471 (32%) Operating Cash Flow Conversion 133% 91% 42% Free Cash Flow 758 1,279 (41%) Adjusted Free Cash Flow4 758 1,286 (41%) Adjusted Free Cash Flow Conversion5 68% 85% (17%) TABLE 3: SUMMARY OF SEGMENT FINANCIAL RESULTS AEROSPACE 3Q 2020 3Q 2019 Change Sales 2,662 3,544 (25%) Organic Growth (25%) Segment Profit 617 908 (32%) Segment Margin 23.2% 25.6% -240 bps HONEYWELL BUILDING TECHNOLOGIES Sales 1,305 1,415 (8%) Organic Growth (8%) Segment Profit 282 297 (5%) Segment Margin 21.6% 21.0% 60 bps PERFORMANCE MATERIALS AND TECHNOLOGIES Sales 2,252 2,670 (16%) Organic Growth (16%) Segment Profit 442 582 (24%) Segment Margin 19.6% 21.8% -220 bps SAFETY AND PRODUCTIVITY SOLUTIONS Sales 1,578 1,457 8% Organic Growth 8% Segment Profit 219 195 12% Segment Margin 13.9% 13.4% 50 bps 1Adjusted EPS and adjusted EPS V% guidance exclude 4Q19 pension mark-to-market, adjustments to the charges taken in connection with the 4Q17 U.S. tax legislation charge, 2Q20 favorable resolution of a foreign tax matter related to the spin-off transactions, and the impact of a non-cash $350M pre-tax and after-tax charge associated with the reduction in carrying value to present value of reimbursement receivables due from Garrett in relation to Garrett's September 20, 2020 Chapter 11 bankruptcy filing 2Adjusted EPS and adjusted EPS V% exclude adjustments to the charges taken in connection with the 4Q17 U.S. tax legislation charge and the impact of a non-cash $350M pre-tax and after-tax charge associated with the reduction in carrying value to present value of reimbursement receivables due from Garrett in relation to Garrett's September 20, 2020 Chapter 11 bankruptcy filing 3As discussed in the notes to the attached reconciliations, we do not provide guidance for margin or EPS on a GAAP basis 4Adjusted free cash flow and adjusted free cash flow V% exclude impacts from separation costs related to the spin-offs of $7M in 3Q19 5Adjusted free cash flow conversion excludes impacts from separation costs related to the spin-offs of $7M in 3Q19, adjustments to the charges taken in connected with the 4Q17 U.S. tax legislation charge, and the impact of a non-cash $350M pre-tax and after-tax charge associated with the reduction in carrying value to present value of reimbursement receivables due from Garrett in relation to Garrett's September 20, 2020 Chapter 11 bankruptcy filing Honeywell (www.honeywell.com) is a Fortune 100 technology company that delivers industry specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help everything from aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom. This release contains certain statements that may be deemed \"forward-looking statements\" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, technological, and COVID-19 public health factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, and other developments, including the potential impact of the COVID-19 pandemic, and business decisions may differ from those envisaged by such forward-looking statements. Any forward-looking plans described herein are not final and may be modified or abandoned at any time. No final decision will be taken with respect to such plans or proposals without prior satisfaction of any applicable requirements with respect to informing, consulting or negotiating with employees or their representatives. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission. This release contains financial measures presented on a non-GAAP basis. Honeywell's non-GAAP financial measures used in this release are as follows: segment profit, on an overall Honeywell basis, a measure by which we assess operating performance, which we define as operating income adjusted for certain items as presented in the Appendix; segment margin, on an overall Honeywell basis, which we define as segment profit divided by sales; organic sales growth, which we define as sales growth less the impacts from foreign currency translation, and acquisitions and divestitures for the first 12 months following transaction date; free cash flow, which we define as cash flow from operations less capital expenditures; adjusted free cash flow, which we define as cash flow from operations less capital expenditures and which we adjust to exclude the impact of separation costs related to the spin-offs of Resideo and Garrett, if and as noted in the release; adjusted free cash flow conversion, which we define as adjusted free cash flow divided by net income attributable to Honeywell, excluding separation costs related to the spin-offs and the impact of a non-cash $350M pre-tax and after-tax charge associated with the reduction in carrying value to present value of reimbursement receivables due from Garrett in relation to Garrett's September 20, 2020 Chapter 11 bankruptcy filing, if and as noted in the release; and adjusted earnings per share, which we adjust to exclude pension mark-to-market, adjustments to the charges taken in connection with the 4Q17 U.S. tax legislation charge, the favorable resolution of a foreign tax matter related to the spin-off transactions, and the impact of a non-cash $350M pre-tax and after-tax charge associated with the reduction in carrying value to present value of reimbursement receivables due from Garrett in relation to Garrett's September 20, 2020 Chapter 11 bankruptcy filing, if and as noted in the release. Management believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. These metrics should be considered in addition to, and not as replacements for, the most comparable GAAP measure. Refer to the Appendix attached to this release for reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures. Honeywell International Inc. Consolidated Statement of Operations (Unaudited) (Dollars in millions, except per share amounts) Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Product sales $ 5,885 $ 6,793 $ 17,933 $ 20,496 Service sales 1,912 2,293 5,804 6,717 Net sales 7,797 9,086 23,737 27,213 Costs, expenses and other Cost of products sold (1) 4,315 4,775 12,852 14,244 Cost of services sold (1) 1,068 1,263 3,341 3,767 5,383 6,038 16,193 18,011 Selling, general and administrative expenses (1) 1,103 1,296 3,524 4,046 Other (income) expense 62 (311) (546) (901) Interest and other financial charges 101 96 264 266 6,649 7,119 19,435 21,422 Income before taxes 1,148 1,967 4,302 5,791 Tax expense (benefit) 367 319 816 1,151 Net income 781 1,648 3,486 4,640 Less: Net income attributable to the noncontrolling interest 23 24 66 59 Net income attributable to Honeywell $ 758 $ 1,624 $ 3,420 $ 4,581 Earnings per share of common stock - basic $ 1.08 $ 2.26 $ 4.85 $ 6.33 Earnings per share of common stock - assuming dilution $ 1.07 $ 2.23 $ 4.81 $ 6.25 Weighted average number of shares outstanding - basic 702.6 717.6 704.8 723.5 Weighted average number of shares outstanding - assuming dilution 709.6 726.7 711.6 732.8 (1) Cost of products and services sold and selling, general and administrative expenses include amounts for repositioning and other charges, the service cost component of pension and other postretirement (income) expense, and stock compensation expense. Honeywell International Inc. Segment Data (Unaudited) (Dollars in millions) Three Months Ended September 30, Nine Months Ended September 30, Net Sales 2020 2019 2020 2019 Aerospace $ 2,662 $ 3,544 $ 8,566 $ 10,393 Honeywell Building Technologies 1,305 1,415 3,763 4,254 Performance Materials and Technologies 2,252 2,670 6,867 7,977 Safety and Productivity Solutions 1,578 1,457 4,541 4,589 Total $ 7,797 $ 9,086 $ 23,737 $ 27,213 Reconciliation of Segment Profit to Income Before Taxes Three Months Ended September 30, Nine Months Ended September 30, Segment Profit 2020 2019 2020 2019 Aerospace $ 617 $ 908 $ 2,082 $ 2,653 Honeywell Building Technologies 282 297 794 868 Performance Materials and Technologies 442 582 1,373 1,790 Safety and Productivity Solutions 219 195 610 598 Corporate (7) (54) (73) (202) Total segment profit 1,553 1,928 4,786 5,707 Interest and other financial charges (101) (96) (264) (266) Stock compensation expense (1) (40) (37) (118) (112) Pension ongoing income (2) 197 150 593 449 Other postretirement income (2) 13 12 40 35 Repositioning and other charges (3,4) (144) (96) (486) (306) Other (5) (330) 106 (249) 284 Income before taxes $ 1,148 $ 1,967 $ 4,302 $ 5,791 (1) Amounts included in Selling, general and administrative expenses. (2) Amounts included in Cost of products and services sold and Selling, general and administrative expenses (service costs) and Other income/expense (non-service cost components). (3) Amounts included in Cost of products and services sold, Selling, general and administrative expenses, and Other income/expense. (4) Includes repositioning, asbestos, and environmental expenses. (5) Amounts include the other components of Other income/expense not included within other categories in this reconciliation. Equity income (loss) of affiliated companies is included in segment profit. Honeywell International Inc. Consolidated Balance Sheet (Unaudited) (Dollars in millions) September 30, 2020 December 31, 2019 ASSETS Current assets: Cash and cash equivalents $ 14,036 $ 9,067 Short-term investments 972 1,349 Accounts receivable - net 6,878 7,493 Inventories 4,705 4,421 Other current assets 1,609 1,973 Total current assets 28,200 24,303 Investments and long-term receivables 673 588 Property, plant and equipment - net 5,419 5,325 Goodwill 15,666 15,563 Other intangible assets - net 3,494 3,734 Insurance recoveries for asbestos related liabilities 374 392 Deferred income taxes 154 86 Other assets 9,479 8,688 Total assets $ 63,459 $ 58,679 LIABILITIES Current liabilities: Accounts payable $ 5,270 $ 5,730 Commercial paper and other short-term borrowings 3,550 3,516 Current maturities of long-term debt 985 1,376 Accrued liabilities 7,379 7,476 Total current liabilities 17,184 18,098 Long-term debt 17,687 11,110 Deferred income taxes 1,474 1,670 Postretirement benefit obligations other than pensions 309 326 Asbestos related liabilities 1,845 1,996 Other liabilities 6,640 6,766 Redeemable noncontrolling interest 7 7 Shareowners' equity 18,313 18,706 Total liabilities, redeemable noncontrolling interest and shareowners' equity $ 63,459 $ 58,679 Honeywell International Inc. Consolidated Statement of Cash Flows (Unaudited) (Dollars in millions) Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Cash flows from operating activities: Net income $ 781 $ 1,648 $ 3,486 $ 4,640 Less: Net income attributable to the noncontrolling interest 23 24 66 59 Net income attributable to Honeywell 758 1,624 3,420 4,581 Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities: Depreciation 166 165 480 500 Amortization 89 98 268 319 Repositioning and other charges 144 96 486 306 Net payments for repositioning and other charges (343) (72) (652) (157) Pension and other postretirement income (210) (162) (633) (484) Pension and other postretirement benefit payments (14) (5) (37) (50) Stock compensation expense 40 37 118 112 Deferred income taxes (12) (342) (289) (298) Reimbursement receivables charge 350 350 Other (84) 93 (369) 98 Changes in assets and liabilities, net of the effects of acquisitions and divestitures: Accounts receivable (161) (176) 615 (78) Inventories 47 (3) (284) (276) Other current assets 140 171 246 (68) Accounts payable (96) (81) (460) (89) Accrued liabilities 193 28 167 (133) Net cash provided by (used for) operating activities 1,007 1,471 3,426 4,283 Cash flows from investing activities: Expenditures for property, plant and equipment (249) (192) (615) (504) Proceeds from disposals of property, plant and equipment 10 31 17 41 Increase in investments (700) (944) (2,371) (3,218) Decrease in investments 1,045 1,155 2,634 3,318 Receipts (payments) from settlements of derivative contracts (158) 175 (75) 245 Other (4) (4) Net cash provided by (used for) investing activities (52) 221 (410) (122) Cash flows from financing activities: Proceeds from issuance of commercial paper and other short-term borrowings 1,412 3,178 8,577 10,292 Payments of commercial paper and other short-term borrowings (1,418) (3,178) (8,512) (10,293) Proceeds from issuance of common stock 66 47 163 425 Proceeds from issuance of long-term debt 3,004 2,696 10,105 2,725 Payments of long-term debt (3,019) (36) (4,237) (120) Repurchases of common stock (164) (1,000) (2,149) (3,650) Cash dividends paid (636) (595) (1,921) (1,798) Other (14) (40) (54) (72) Net cash provided by (used for) financing activities (769) 1,072 1,972 (2,491) Effect of foreign exchange rate changes on cash and cash equivalents 72 (81) (19) (49) Net increase (decrease) in cash and cash equivalents 258 2,683 4,969 1,621 Cash and cash equivalents at beginning of period 13,778 8,225 9,067 9,287 Cash and cash equivalents at end of period $ 14,036 $ 10,908 $ 14,036 $ 10,908 Honeywell International Inc. Reconciliation of Organic Sales % Change (Unaudited) Three Months Ended September 30, 2020 Honeywell Reported sales % change (14)% Less: Foreign currency translation % Less: Acquisitions, divestitures and other, net % Organic sales % change (14)% Aerospace Reported sales % change (25)% Less: Foreign currency translation % Less: Acquisitions, divestitures and other, net % Organic sales % change (25)% Honeywell Building Technologies Reported sales % change (8)% Less: Foreign currency translation % Less: Acquisitions, divestitures and other, net % Organic sales % change (8)% Performance Materials and Technologies Reported sales % change (16)% Less: Foreign currency translation % Less: Acquisitions, divestitures and other, net % Organic sales % change (16)% Safety and Productivity Solutions Reported sales % change 8% Less: Foreign currency translation % Less: Acquisitions, divestitures and other, net % Organic sales % change 8% We define organic sales percent as the year-over-year change in reported sales relative to the comparable period, excluding the impact on sales from foreign currency translation and acquisitions, net of divestitures. We believe this measure is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. A quantitative reconciliation of reported sales percent change to organic sales percent change has not been provided for forward-looking measures of organic sales percent change because management cannot reliably predict or estimate, without unreasonable effort, the fluctuations in global currency markets that impact foreign currency translation, nor is it reasonable for management to predict the timing, occurrence and impact of acquisition and divestiture transactions, all of which could significantly impact our reported sales percent change. Honeywell International Inc. Reconciliation of Segment Profit to Operating Income and Calculation of Segment Profit and Operating Income Margins (Unaudited) (Dollars in millions) Three Months Ended September 30, 2020 2019 Segment profit $ 1,553 $ 1,928 Stock compensation expense (1) (40) (37) Repositioning, Other (2,3) (161) (109) Pension and other postretirement service costs (4) (41) (30) Operating income $ 1,311 $ 1,752 Segment profit $ 1,553 $ 1,928 Net sales $ 7,797 $ 9,086 Segment profit margin % 19.9 % 21.2 % Operating income $ 1,311 $ 1,752 Net sales $ 7,797 $ 9,086 Operating income margin % 16.8 % 19.3 % (1) Included in Selling, general and administrative expenses. (2) Includes repositioning, asbestos, environmental expenses and equity income adjustment. (3) Included in Cost of products and services sold, Selling, general and administrative expenses and Other income/expense. (4) Included in Cost of products and services sold and Selling, general and administrative expenses. We define segment profit as operating income, excluding stock compensation expense, pension and other postretirement service costs, and repositioning and other charges. We believe these measures are useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. Honeywell International Inc. Reconciliation of Earnings per Share to Adjusted Earnings per Share (Unaudited) Three Months Ended September 30, Three Months Ended June 30, 2020 Three Months Ended December 31, 2019 Twelve Months Ended December 31, 2019 2020 2019 Earnings per share of common stock - assuming dilution (1) $ 1.07 $ 2.23 $ 1.53 $ 2.16 $ 8.41 Pension mark-to-market expense (2) 0.13 0.13 Separation-related tax adjustment (3) (0.27) Impacts from U.S. Tax Reform (0.15) (0.23) (0.38) Reimbursement receivable charge (4) $ 0.49 Adjusted earnings per share of common stock - assuming dilution $ 1.56 $ 2.08 $ 1.26 $ 2.06 $ 8.16 (1) For the three months ended September 30, 2020 and 2019, adjusted earnings per share utilizes weighted average shares of approximately 709.6 million and 726.7 million. For the three months ended June 30, 2020, adjusted earnings per share utilizes weighted average shares of approximately 708.1 million. For the three and twelve months ended December 31, 2019 adjusted earnings per share utilizes weighted average shares of approximately 722.6 million and 730.3. (2) Pension mark-to-market expense uses a blended tax rate of 24% for 2019. (3) For the three months ended June 30, 2020, separation-related tax adjustment of $186 million ($186 million net of tax) includes the favorable resolution of a foreign tax matter related to the spin-off transactions. (4) The impact due to a non-cash $350M pre-tax and after-tax charge associated with the reduction in carrying value to present value of reimbursement receivables due from Garrett in relation to Garrett's September 20, 2020 Chapter 11 bankruptcy filing. Honeywell International Inc. Reconciliation of Cash Provided by Operating Activities to Adjusted Free Cash Flow and Calculation of Adjusted Free Cash Flow Conversion (Unaudited) (Dollars in millions) Three Months Ended September 30, 2020 Three Months Ended September 30, 2019 Cash provided by operating activities $ 1,007 $ 1,471 Expenditures for property, plant and equipment (249) (192) Free cash flow 758 1,279 Separation cost payments 7 Adjusted free cash flow $ 758 $ 1,286 Net income attributable to Honeywell 758 1,624 Impacts from U.S. Tax Reform (114) Reimbursement receivable charge (1) 350 Adjusted net income attributable to Honeywell $ 1,108 $ 1,510 Cash provided by operating activities $ 1,007 $ 1,471 Net income (loss) attributable to Honeywell $ 758 $ 1,624 Operating cash flow conversion 133 % 91 % Adjusted free cash flow $ 758 $ 1,286 Adjusted net income attributable to Honeywell $ 1,108 $ 1,510 Adjusted free cash flow conversion % 68 % 85 % (1) A non-cash $350M pre-tax and after-tax charge associated with the reduction in carrying value to present value of reimbursement receivables due from Garrett in relation to Garrett's September 20, 2020 Chapter 11 bankruptcy filing. We define free cash flow as cash provided by operating activities less cash expenditures for property, plant and equipment. We believe that this metric is useful to investors and management as a measure of cash generated by business operations that will be used to repay scheduled debt maturities and can be used to invest in future growth through new business development activities or acquisitions, pay dividends, repurchase stock or repay debt obligations prior to their maturities. This metric can also be used to evaluate our ability to generate cash flow from business operations and the impact that this cash flow has on our liquidity. Honeywell International Inc. Reconciliation of Segment Profit to Operating Income and Calculation of Segment Profit and Operating Income Margins (Unaudited) (Dollars in millions) Three Months Ended December 31, 2019 Twelve Months Ended December 31, 2019 Three Months Ended June 30, 2020 Segment profit $ 2,032 $ 7,739 $ 1,385 Stock compensation expense (1) (41) (153) (34) Repositioning, Other (2,3) (259) (598) (295) Pension and other postretirement service costs (4) (37) (137) (38) Operating income $ 1,695 $ 6,851 $ 1,018 Segment profit $ 2,032 $ 7,739 $ 1,385 Net sales $ 9,496 $ 36,709 $ 7,477 Segment profit margin % 21.4 % 21.1 % 18.5 % Operating income $ 1,695 $ 6,851 $ 1,018 Net sales $ 9,496 $ 36,709 $ 7,477 Operating income margin % 17.8 % 18.7 % 13.6 % (1) Included in Selling, general and administrative expenses. (2) Includes repositioning, asbestos, environmental expenses and equity income adjustment. (3) Included in Cost of products and services sold, Selling, general and administrative expenses and Other income/expense. (4) Included in Cost of products and services sold and Selling, general and administrative expenses. We define segment profit as operating income, excluding stock compensation expense, pension and other postretirement service costs, and repositioning and other charges. We believe these measures are useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. A quantitative reconciliation of segment profit, on an overall Honeywell basis, to operating income has not been provided for all forward-looking measures of segment profit and segment margin included herewithin. Management cannot reliably predict or estimate, without unreasonable effort, the impact and timing on future operating results arising from items excluded from segment profit, particularly pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. The information that is unavailable to provide a quantitative reconciliation could have a significant impact on our reported financial results. To the extent quantitative information becomes available without unreasonable effort in the future, and closer to the period to which the forward-looking measures pertain, a reconciliation of segment profit to operating income will be included within future filings. Honeywell International Inc. Reconciliation of Expected Earnings per Share to Adjusted Earnings per Share (Unaudited) Three Months EndedDecember 31, 2020 (E) Twelve Months Ended December 31, 2020 (E) Earnings per share of common stock - assuming dilution (1) $1.97 - $2.02 $6.78 - $6.83 Pension mark-to-market expense Separation-related tax adjustment (2) (0.27) Reimbursement receivable charge (3) 0.49 Adjusted earnings per share of common stock - assuming dilution $1.97 - $2.02 $7.00 - $7.05 (1) For the three and twelve months ended December 31, 2020, expected adjusted earnings per share utilizes weighted average shares of approximately 710 million and 711 million. (2) For the twelve months ended December 31, 2020, separation-related tax adjustment of $186 million ($186 million net of tax) includes the favorable resolution of a foreign tax matter related to the spin-off transactions. (3) The impact due to a non-cash $350M pre-tax and after-tax charge associated with the reduction in carrying value to present value of reimbursement receivables due from Garrett in relation to Garrett's September 20, 2020 Chapter 11 bankruptcy filing. We believe adjusted earnings per share, is a measure that is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. For forward looking information, management cannot reliably predict or estimate, without unreasonable effort, the pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. We therefore do not include an estimate for the pension mark-to-market expense. Based on economic and industry conditions,
Chinese News:
进博会为东西方企业齐聚一堂、展示各自创新成果和交流经验提供了契机，有助于建立更多的联系，是个绝佳的平台。” 美国霍尼韦尔公司全球高增长地区总裁沈达理近日在接受记者专访时说。沈达理说，今年的进博会霍尼韦尔带来了涵盖安全保障、能源效率等多个领域的创新技术和产品。“我们非常支持进博会，因为它是彰显中国经济动能的重要部分。”他说。霍尼韦尔是第一批参加首届进博会的跨国公司，2019年第二届进博会上，霍尼韦尔的展位面积比2018年扩大了三倍。霍尼韦尔在过去两届进博会上展示了多项智能互联、节能环保和安全防护创新技术，同时与中国企业签署了合作协议，涉及互联工厂、智慧建筑、智慧医疗、飞机维修等，携手客户共创互联、安全和可持续的美好未来。沈达理表示，中国是目前唯一呈现稳步复苏态势的主要经济体。经济转入正轨，需要“人们有信心走出去参与经济活动”，中国在谨慎应对疫情、注入社会信心等方面，“处理得很稳妥”。作为最早进入中国的美资企业之一，霍尼韦尔向来重视中国市场，看好其发展前景。沈达理说，跨国公司需要关注全球趋势，其投资、战略布局、产品和服务都要反映全球增长的现实，“我们的核心战略是与中国一起动态发展，真正成为中国本土企业。”沈达理认为，中国不单单是个进口或出口市场，也是重要的生产制造和创新之地，所以我们力求在中国市场拥有一席之地，以更好地抓住中国本土市场活力所带来的巨大机遇。“早在15、16年前，我们就意识到中国不仅是一个庞大的市场，也是一个充满活力的全球经济体，作为真正意义上的全球跨国公司，我们需充分参与中国的动态增长。”他说。在中国，霍尼韦尔长期以创新来推动增长，贯彻“东方服务于东方”和“东方服务于全球”的战略。目前，霍尼韦尔四大业务集团均已落户中国，在中国30多个城市拥有50多家独资公司和合资企业.
Japanese News:
ハネウェル・インターナショナル［HON］決算：1株利益は2.58ドルで市場予想を上回る ハネウェル・インターナショナルは、旧式のサーモスタット装置を製造し、1885年にアルバート・バッツによって創設されたButz－Thermo Electric Regulatorを前身とする。他の発明には、生分解性洗剤や自動操縦などがある。現在は、世界的に多様な産業へと対応する巨大企業であり、最大規模の設備のインストールベースを有する1社である。エアロスペース・テクノロジーズ（2023年の会社収益の37％）、インダストリアル・オートメーション（同29％）、エネルギーおよび持続可能性ソリューション（同17％）、ビルディング・オートメーション（同17％）の4つの事業部門で事業を展開している。より少数の最終市場に焦点を当て、一連の長期的な成長トレンドに合わせていくつかのポートフォリオ変更を行っている。インストールベースの拡大に熱心に取り組んでおり、収益の30％を定期的なアフターマーケットサービスから得ている。
Spanish News:
Wall Street abrió con retrocesos generalizados este viernes y su principal indicador, el Dow Jones de Industriales, bajaba un 0,33 %, apuntalando lo que parece que cerrará como la peor semana en las operaciones bursátiles de Nueva York desde mediados de marzo, cuando comenzó a extenderse la pandemia en Europa y Estados Unidos. Al inicio de las operaciones a las 9.30 (13.30 GMT) en la Bolsa de Nueva York, el Dow Jones bajaba 86,84 puntos, hasta 26.572,27 unidades, con Apple (-3,64 %) liderando las caídas de los 30 grandes valores del parqué, mientras que le seguían Honeywell (-0,85%) y Caterpillar (-0,84%). El selectivo S&P 500, por su parte, perdía un 0,51 % o 16,99 puntos, hasta 3.293,12 unidades; y el índice compuesto Nasdaq, en el que cotizan las principales tecnológicas, sufría la mayor caída con un retroceso del 0,75 %, equivalente a 96.52 puntos, hasta los 11.089,07 enteros. Los sectores que caían con más fuerza en los primeros compases de la jornada eran los de bienes no esenciales (-1,20 %), el tecnológico (-1,19 %) y el energético (-0,58 %), mientras que solo los de comunicaciones (1,43%) y el de salud (0,23%) se mantenían en positivo. En lo que va de semana el Dow Jones ha perdido cerca de un 6 %, con lo que podría cerrar esta semana negra como la peor desde el 20 de marzo, lo que pone de relieve la percepción de los inversores sobre el impacto de la segunda ola de covid-19 en el mundo a las puertas del invierno boreal. La volatilidad está a niveles máximos desde junio, por las incertidumbre sobre el avance de la pandemia en Europa y Estados Unidos y la inminencia de las elecciones generales en el país norteamericano que podrían ver un cambio en la Casa Blanca a favor del demócrata Joe Biden frente al presidente Donald Trump. "Las políticas de estímulo, los desarrollos médicos positivos y las esperanzas en el retorno a los niveles de actividad económica pre-pandemia han provisto mejoras en los mercados de activos. No obstante, las nuevas restricciones económicas, especialmente en Europa, pese a que eran predecibles llamaron la atención de los inversores esta semana, contribuyendo a las fuertes pérdidas", resumió la firma de análisis de mercados MRB Partners en una nota. En otros mercados, el petróleo de Texas caía media hora después de iniciarse las cotizaciones un 1,35 %, a 35,68 dólares el barril; el oro ascendía a 1.887,40 dólares la onza; el rendimiento del bono del Tesoro a 10 años subía a 0,839 % y el dólar perdía terreno frente al euro, con un cambio de 1,1684.
Greek News:
Η εταιρία Honeywell, γνωστή κυρίως ως κολοσσός στον βιομηχανικό και τεχνολογικό τομέα, επεκτείνει τη παρουσία της στην αναδυόμενη αγορά του Quantum Computing. Παρουσιάζοντας το νέο της σύστημα Μοδελ Η1, η εταιρία αξιοποεί την τεχνολογία των παγιδευμένων ιόντων, προσφέροντας 10 πλήρως συνδεδεμένα qubits, και επιτυγχάνει Quantum Volume 128. Το H1 θα είναι διαθέσιμο μέσω της πλατφόρμας Azure Quantum, με τη στήριξη εταιριών όπως η Zapata Computing και η Cambridge Quantum Computing. Παρά του φιλόδοξου ισχυρισμού της εταιρίας IonQ για υλοποίηση αντίστοιχου έργου με Quantum Volume τουλάχιστον 4.000.000, η Honeywell υπερβαίνει τους ανταγωνιστές της, όπως την IBM, δίνοντας έμφαση στην ποιότητα και σταθερότητα των qubits της. Η εταιρία αποδίδει την τεχνολογική της πρόοδο στην πολυετή εμπειρία της στα συστήματα ελέγχου, εμπειρία η οποία επέτρεψε τη δημιουργία μιας ιδιαίτερα σταθερής παγίδας ιόντως, ενισχύοντας τη δυνατότητα διόρθωσης σφαλμάτων. Ωστόσο, στο οικονομικό μέτωπο, τα αποτελέσματα του τρίτου τριμήνου του 2020 καταγράφουν πτώση. Η Honeywell ανακοίνωσε καθαρό εισόδημα ύψους 781 εκατομμυρίων δολαρίων για την περίοδο που έληξε στις 30 Σεπτεμβρίου, σημαντικά μειωμένο σε σχέση με τα 1,648 δισεκατομμύρια δολάρια του αντίστοιχου τριμήνου το 2019. Η εξέλιξη αυτή αντικατοπτρίζει τις προκλήσεις που αντιμετωπίζει η εταιρεία στο ευρύτερο οικονομικό περιβάλλον, ακόμη και καθώς επενδύει σε τεχνολογίες αιχμής.
Question:
What are the company's capital expenditures and their strategic significance from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | What are the company's capital expenditures and their strategic significance from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: Honeywell's investments supported strategic areas like warehouse automation, personal protective equipment, and emerging Aerospace technologies via acquisitions.
Financial Statement Evidence: Honeywell’s capital expenditures were $615M in the first nine months of FY2020, a modest increase from $504M during the same period in FY2019. |
HON_20210212 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:------------------------------------------------------------------------------|:----------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | December 31, | | | | | | | | | | |
| 2020 | | 2019 | | | | | | | | | |
| | (Dollars in millions) | | | | | | | | | | |
| ASSETS | | | | | | | | | | | |
| Current assets: | | | | | | | | | | | |
| Cash and cash equivalents | $ | 14,275 | | | $ | 9,067 | | | | | |
| Short-term investments | 945 | | | 1,349 | | | | | | | |
| Accounts receivable—net | 6,827 | | | 7,493 | | | | | | | |
| Inventories | 4,489 | | | 4,421 | | | | | | | |
| Other current assets | 1,639 | | | 1,973 | | | | | | | |
| Total current assets | 28,175 | | | 24,303 | | | | | | | |
| Investments and long-term receivables | 685 | | | 588 | | | | | | | |
| Property, plant and equipment—net | 5,570 | | | 5,325 | | | | | | | |
| Goodwill | 16,058 | | | 15,563 | | | | | | | |
| Other intangible assets—net | 3,560 | | | 3,734 | | | | | | | |
| Insurance recoveries for asbestos related liabilities | 366 | | | 392 | | | | | | | |
| Deferred income taxes | 760 | | | 86 | | | | | | | |
| Other assets | 9,412 | | | 8,688 | | | | | | | |
| Total assets | $ | 64,586 | | | $ | 58,679 | | | | | |
| LIABILITIES | | | | | | | | | | | |
| Current liabilities: | | | | | | | | | | | |
| Accounts payable | $ | 5,750 | | | $ | 5,730 | | | | | |
| Commercial paper and other short-term borrowings | 3,597 | | | 3,516 | | | | | | | |
| Current maturities of long-term debt | 2,445 | | | 1,376 | | | | | | | |
| Accrued liabilities | 7,405 | | | 7,476 | | | | | | | |
| Total current liabilities | 19,197 | | | 18,098 | | | | | | | |
| Long-term debt | 16,342 | | | 11,110 | | | | | | | |
| Deferred income taxes | 2,113 | | | 1,670 | | | | | | | |
| Postretirement benefit obligations other than pensions | 242 | | | 326 | | | | | | | |
| Asbestos related liabilities | 1,920 | | | 1,996 | | | | | | | |
| Other liabilities | 6,975 | | | 6,766 | | | | | | | |
| Redeemable noncontrolling interest | 7 | | | 7 | | | | | | | |
| SHAREOWNERS’ EQUITY | | | | | | | | | | | |
| Capital—common stock issued | 958 | | | 958 | | | | | | | |
| —additional paid-in capital | 7,292 | | | 6,876 | | | | | | | |
| Common stock held in treasury, at cost | (27,229) | | | (23,836) | | | | | | | |
| Accumulated other comprehensive income (loss) | (3,377) | | | (3,197) | | | | | | | |
| Retained earnings | 39,905 | | | 37,693 | | | | | | | |
| Total Honeywell shareowners’ equity | 17,549 | | | 18,494 | | | | | | | |
| Noncontrolling interest | 241 | | | 212 | | | | | | | |
| Total shareowners’ equity | 17,790 | | | 18,706 | | | | | | | |
| Total liabilities, redeemable noncontrolling interest and shareowners’ equity | $ | 64,586 | | | $ | 58,679 | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 |
|:------------------------------------------------------------------------------------------------------------|:-------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | |
| | Years Ended December 31, | | | | | | | | | | | | | | | | |
| 2020 | | 2019 | | 2018 | | | | | | | | | | | | | |
| | (Dollars in millions) | | | | | | | | | | | | | | | | |
| Cash flows from operating activities: | | | | | | | | | | | | | | | | | |
| Net income | $ | 4,865 | | | $ | 6,230 | | | $ | 6,828 | | | | | | | |
| Less: Net income attributable to the noncontrolling interest | 86 | | | 87 | | | 63 | | | | | | | | | | |
| Net income attributable to Honeywell | 4,779 | | | 6,143 | | | 6,765 | | | | | | | | | | |
| Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities: | | | | | | | | | | | | | | | | | |
| Depreciation | 644 | | | 673 | | | 721 | | | | | | | | | | |
| Amortization | 358 | | | 415 | | | 395 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | |
| Repositioning and other charges | 575 | | | 546 | | | 1,091 | | | | | | | | | | |
| Net payments for repositioning and other charges | (833) | | | (376) | | | (652) | | | | | | | | | | |
| Pension and other postretirement income | (798) | | | (516) | | | (987) | | | | | | | | | | |
| Pension and other postretirement benefit payments | (47) | | | (78) | | | (80) | | | | | | | | | | |
| Stock compensation expense | 168 | | | 153 | | | 175 | | | | | | | | | | |
| Deferred income taxes | (175) | | | 179 | | | (586) | | | | | | | | | | |
| Reimbursement receivables charge | 509 | | | — | | | — | | | | | | | | | | |
| Other | (335) | | | (286) | | | (694) | | | | | | | | | | |
| Changes in assets and liabilities, net of the effects of acquisitions and divestitures: | | | | | | | | | | | | | | | | | |
| Accounts receivable | 669 | | | 11 | | | (236) | | | | | | | | | | |
| Inventories | (67) | | | (100) | | | (503) | | | | | | | | | | |
| Other current assets | 191 | | | (430) | | | 218 | | | | | | | | | | |
| Accounts payable | 15 | | | 118 | | | 733 | | | | | | | | | | |
| Accrued liabilities | 555 | | | 445 | | | 74 | | | | | | | | | | |
| Net cash provided by (used for) operating activities | 6,208 | | | 6,897 | | | 6,434 | | | | | | | | | | |
| Cash flows from investing activities: | | | | | | | | | | | | | | | | | |
| Expenditures for property, plant and equipment | (906) | | | (839) | | | (828) | | | | | | | | | | |
| Proceeds from disposals of property, plant and equipment | 57 | | | 43 | | | 15 | | | | | | | | | | |
| Increase in investments | (3,236) | | | (4,253) | | | (4,059) | | | | | | | | | | |
| Decrease in investments | 3,508 | | | 4,464 | | | 6,032 | | | | | | | | | | |
| Receipts (payments) from settlements of derivative contracts | (149) | | | 102 | | | 402 | | | | | | | | | | |
| Cash paid for acquisitions, net of cash acquired | (261) | | | (50) | | | (535) | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | |
| Net cash provided by (used for) investing activities | (987) | | | (533) | | | 1,027 | | | | | | | | | | |
| Cash flows from financing activities: | | | | | | | | | | | | | | | | | |
| Proceeds from issuance of commercial paper and other short-term borrowings | 10,474 | | | 14,199 | | | 23,891 | | | | | | | | | | |
| Payments of commercial paper and other short-term borrowings | (10,400) | | | (14,199) | | | (24,095) | | | | | | | | | | |
| Proceeds from issuance of common stock | 393 | | | 498 | | | 267 | | | | | | | | | | |
| Proceeds from issuance of long-term debt | 10,125 | | | 2,726 | | | 27 | | | | | | | | | | |
| Payments of long-term debt | (4,308) | | | (2,903) | | | (1,330) | | | | | | | | | | |
| Repurchases of common stock | (3,714) | | | (4,400) | | | (4,000) | | | | | | | | | | |
| Cash dividends paid | (2,592) | | | (2,442) | | | (2,272) | | | | | | | | | | |
| Pre-separation funding | — | | | — | | | 2,801 | | | | | | | | | | |
| Spin-off cash | — | | | — | | | (179) | | | | | | | | | | |
| Other | (59) | | | (79) | | | (142) | | | | | | | | | | |
| Net cash provided by (used for) financing activities | (81) | | | (6,600) | | | (5,032) | | | | | | | | | | |
| Effect of foreign exchange rate changes on cash and cash equivalents | 68 | | | 16 | | | (201) | | | | | | | | | | |
| Net increase (decrease) in cash and cash equivalents | 5,208 | | | (220) | | | 2,228 | | | | | | | | | | |
| Cash and cash equivalents at beginning of period | 9,067 | | | 9,287 | | | 7,059 | | | | | | | | | | |
| Cash and cash equivalents at end of period | $ | 14,275 | | | $ | 9,067 | | | $ | 9,287 | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 |
|:-------------------------------------------------------------|:-----------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | |
| | Years Ended December 31, | | | | | | | | | | | | | | | | |
| 2020 | | 2019 | | 2018 | | | | | | | | | | | | | |
| | (Dollars in millions,except per share amounts) | | | | | | | | | | | | | | | | |
| Product sales | $ | 24,737 | | | $ | 27,629 | | | $ | 32,848 | | | | | | | |
| Service sales | 7,900 | | | 9,080 | | | 8,954 | | | | | | | | | | |
| Net sales | 32,637 | | | 36,709 | | | 41,802 | | | | | | | | | | |
| Costs, expenses and other | | | | | | | | | | | | | | | | | |
| Cost of products sold | 17,638 | | | 19,269 | | | 23,634 | | | | | | | | | | |
| Cost of services sold | 4,531 | | | 5,070 | | | 5,412 | | | | | | | | | | |
| | 22,169 | | | 24,339 | | | 29,046 | | | | | | | | | | |
| Selling, general and administrative expenses | 4,772 | | | 5,519 | | | 6,051 | | | | | | | | | | |
| Other (income) expense | (675) | | | (1,065) | | | (1,149) | | | | | | | | | | |
| Interest and other financial charges | 359 | | | 357 | | | 367 | | | | | | | | | | |
| | 26,625 | | | 29,150 | | | 34,315 | | | | | | | | | | |
| Income before taxes | 6,012 | | | 7,559 | | | 7,487 | | | | | | | | | | |
| Tax expense | 1,147 | | | 1,329 | | | 659 | | | | | | | | | | |
| Net income | 4,865 | | | 6,230 | | | 6,828 | | | | | | | | | | |
| Less: Net income attributable to the noncontrolling interest | 86 | | | 87 | | | 63 | | | | | | | | | | |
| Net income attributable to Honeywell | $ | 4,779 | | | $ | 6,143 | | | $ | 6,765 | | | | | | | |
| Earnings per share of common stock—basic | $ | 6.79 | | | $ | 8.52 | | | $ | 9.10 | | | | | | | |
| Earnings per share of common stock—assuming dilution | $ | 6.72 | | | $ | 8.41 | | | $ | 8.98 | | | | | | | |
---
English News:
"Global Smart Thermostats Market Trends, Forecast and Competitive Analysis Report 2021 - ResearchAndMarkets.com - DUBLIN--(BUSINESS WIRE)--The \"Smart Thermostats Market Report: Trends, Forecast and Competitive Analysis\" report has been added to ResearchAndMarkets.com's offering. The global smart thermostats market is expected to grow with a CAGR of 31% from 2019 to 2024. The future of the smart thermostats market looks promising with opportunities in the residential, office building, educational buildings, industrial building, retail, hospitality, and healthcare industries. The major drivers for this market are stringent government regulation towards energy saving, increasing demand for energy-efficient devices, and increasing adoption of smart home technology. The study includes the smart thermostats market size and forecast for the global smart thermostats market by technology, component, end use industry, and region. Some of the smart thermostats companies profiled in this report include Nest Labs, Inc., Honeywell International Inc., Ecobee, Inc. , Emerson Electric Co., Schneider Electric SE, Tado GmbH, Control4 Corporation, Ingersoll Rand PLC, Carrier Corporation, Nortek, Inc Some of the features of smart thermostats market report: Trends, Forecast, and Opportunity Analysis include: This report answers the following 11 key questions: Key Topics Covered: 1. Executive Summary 2. Market Trends and Forecast Analysis from 2013 to 2024 2.1: Introduction, Background, and Classification 2.2: Supply Chain 2.3: Industry Drivers and Challenges 3. Market Trends and Forecast Analysis from 2013 to 2024 3.1: Macroeconomic Trends and Forecast 3.2: Global Smart Thermostats Market: Trends and Forecast 3.3: Global Smart Thermostats Market by Technology 3.3.1: Wired Networking 3.3.2: Wireless Networking: Wi-Fi, ZigBee, Z-Wave and Bluetooth 3.4: Global Smart Thermostats Market by Component 3.4.1: Display Sensor 3.4.2: Temperature Sensor 3.4.3: Humidity Sensor 3.4.4: Motion Sensor 3.5: Global Smart Thermostats Market by End Use Industry 3.5.1: Residential 3.5.2: Educational 3.5.3: Retail 3.5.4: Hospitality and Healthcare 3.5.5: Office and Industrial Building 4. Market Trends and Forecast Analysis by Region 4.1: Global Smart Thermostats Market by Region 4.2: North American Smart Thermostats Market 4.2.1: Market by End Use Industry: Residential, Educational, Retail, Hospitality and Healthcare, and Office & Industrial building 4.2.2: Market by Technology: Wired and Wireless Networking 4.2.3: United States Smart Thermostats Market 4.2.4: Canadian Smart Thermostats Market 4.2.5: Mexican Smart Thermostats Market 4.3: European Smart Thermostats Market 4.4: APAC Smart Thermostats Market 4.5: ROW Smart Thermostats Market 5. Competitor Analysis 5.1: Product Portfolio Analysis 5.2: Market Share Analysis 5.3: Operational Integration 5.4: Regional Reach 5.5: Porter's Five Forces Analysis 6. Growth Opportunities and Strategic Analysis 6.1: Growth Opportunity Analysis 6.1.1: Growth Opportunities for Global Smart Thermostats Market by Technology 6.1.2: Growth Opportunities for Global Smart Thermostats Market by Component 6.1.3: Growth Opportunities for Global Smart Thermostats Market by End Use Industry 6.1.4: Growth Opportunities for Global Smart Thermostats Market by Region 6.2: Emerging Trends in Global Smart Thermostats Market 6.3: Strategic Analysis 6.3.1: New Product Development 6.3.2: Capacity Expansion of Global Smart Thermostats Market 6.3.3: Mergers, Acquisitions and Joint Ventures in the Global Market 6.3.4: Certification and Licensing 7. Company Profiles of Leading Players 7.1: Nest Labs 7.2: Honeywell International 7.3: Ecobee 7.4: Emerson Electric 7.5: Schneider Electric 7.6: Tado 7.7: Control4 Corporation 7.8: Ingersoll Rand PLC 7.9: Carrier Corporation 7.10: Nortek For more information about this report visit https://www.researchandmarkets.com/r/6tig4a",
Chinese News:
霍尼韦尔（纽交所代码：HON）近日发布了超出投资者预期的2020年第四季度和全年财务业绩，并同时公布2021年展望。公司第四季度报告销售额及内生式销售额分别同比下降6%和7%，全年报告及内生式销售额下降11%。就全年而言，营运利润率下降120个基点，部门利润 率下降70个基点，每股收益为6.72美元，调整后每股收益[4]为7.10美元，高于业绩指引预测范围上限。“我们在销售额增长、利润率提高以及调 整后每股收益方面再次取得了季度性持续改善，从而收官充满挑战的2020年，”霍尼韦尔董事长兼首席执行官杜瑞哲表示：“我们专注于提供差异 化的解决方案，从而在防务及航天业务、仓储自动化、个人防护装备以及经常性互联软件业务方面连续第二个季度实现两位数的内生式销售额增 长。本季度，我们继续审慎地降低成本，使我们全年的总固定成本节省额达到15亿美元。我们的第四季度调整后每股收益为2.07美元，以调整后 基准[1]计与上年持平，高于业绩指引预测范围上限。另外，我们继续专注于现金创收，于本季度实现了170%的调整后自由现金流转换率[2]。全 年营运现金流为62亿美元，转换率为130%，自由现金流为53亿美元，调整后自由现金流转换率为105%[5]。 杜瑞哲说：“霍尼韦尔强劲的资产负债表使我们具备优势，以应对2020年的挑战，同时进行投资以实现未来增长。我们投资于高回报的资本支出，回购了37亿美元的霍尼韦尔股份，完 成了三宗收购事项，在霍尼韦尔创投（Honeywell Ventures）内部投资于六个新项目，并宣布连续第11年实现股息增长。尽管有如此大规模的现 金部署，我们在2020年末仍拥有152亿美元的现金和短期投资。” 公司同时发布了2021年展望。霍尼韦尔预期2021年销售额将在334亿美元至344亿美元区间，相当于内生式同比增长率处于1%至4%的水平；部门利润率增长30个基点至70个基点；每股收益为7.60美元至8.00美元，调整后增幅[3]为7%至13%；营运现金流在57亿美元至61亿美元之间，自由现金流[6]在51亿美元至55亿美元之间。公司的2021年业绩指引概要参见表1。杜瑞哲总结道：“我对霍尼韦尔在2020年的危机中的表现深感自豪。为助力全球复苏，我们迅速地着力于流动性、成本管理及执行，同时快速创新并对包括重要个人防护设备在内的一系列产品扩大生产。我们还继续专注于增长并投资于新市场和新技术。经过连续两个季度的业绩改善，我们以积极的 势头进入了2021年。我相信，我们为迎接经济复苏作好了准备，并将在短期和长期内继续取得让我们的股东、客户和员工满意的业绩。”第4季度 业绩霍尼韦尔第四季度报告销售额和内生式销售额分别下降6%和7%。有关第四季度的具体财务数据请参阅表2和表3。航空航天集团第四季度内生 式销售额下降19%，主要受到航班时间缩减和商用航空原始设备销量下降等因素持续影响，导致商用航空售后市场需求放缓，而防务及航天业务的两位数增长部分抵消了上述不利影响。部门利润率上涨150个基点至27.6%，主要得益于提升生产力的措施和卓越商业运营。智能建筑科技集团第 四季度内生式销售额下降4%，主要由于建筑智能系统项目进度影响以及安防产品及建筑控制系统需求减弱，而商业楼宇消防业务增长部分抵消了 上述不利影响。得益于北美及欧洲的大型项目，建筑智能系统事业部订单实现了两位数的同比增长。部门利润率增加110个基点至21.4%，主要得 益于卓越商业运营和提升生产力的措施。特性材料和技术集团第四季度内生式销售额下降12%，主要由于过程控制部自动化项目的持续延迟，智慧能源和热能解决方案的业务量下降，以及在石油和天然气行业疲软的影响下，UOP的气体加工项目、催化剂交付、技术许可和工程项目等业务量的下降；而高性能材料部受氟产品需求推动业务恢复增长，部分抵消了上述不利影响。受到销售量减少和组合因素的影响，该集团部门利润率降低380个基点至18.7%，而提升生产力的措施部分抵消了这一趋势。安全与生产力解决方案集团第四季度内生式销售额增长27%，主要得益于Intelligrated智能仓储业务和个人防护装备业务取得的两位数增长，以及强劲的生产力解决方案及服务业务。受个人防护装备业务以及生产力解决方案和 服务业务的订单强劲增长推动，订单连续第五个季度实现两位数同比增长。订单储存仍保持在历史高位。得益于提升生产力的措施和销量增加， 部门利润率增加260个基点至15.3%。
Japanese News:
コングロマリットのハネウェル＜HON＞が下落。取引開始前に１０－１２月期決算（第４四半期）を発表し、１株利益は予想範囲内だったものの、売上高が予想を下回った。ガイダンスも公表し、第１四半期、通期とも予想を下回る売上高見通しを示している。 第４四半期の売上高は航空宇宙部門が１５％増となったものの、ビル用防火・セキュリティ製品や倉庫ソリューションの部門が減収となった。 カプールＣＥＯは「オートメーション、航空、エネルギー転換の各分野の需要にけん引され、売上高と利益の成長を加速させる好位置にある」と述べた。 同社はまた、アダムチク会長が退任することから、カプールＣＥＯが６月に会長職も兼務する人事を発表した。 （１０－１２月・第４四半期） ・1株利益（調整後）：2.60ドル（予想：2.59ドル） ・売上高：94.4億ドル（予想：97.0億ドル） 航空宇宙：36.7億ドル（予想：37.1億ドル） 素材＆テクノロジー：30.3億ドル（予想：31.1億ドル） 建設：15.0億ドル（予想：15.4億ドル） 安全・生産性：12.3億ドル（予想：13.2億ドル） ・既存事業売上高：+2％（予想：+5％） ・ＦＣＦ：25.9億ドル（予想：23.1億ドル） （１－３月・第１四半期見通し） ・1株利益（調整後）：2.12～2.22ドル（予想：2.24ドル） ・売上高：89～92億ドル（予想：92.5億ドル） （通期見通し） ・1株利益（調整後）：9.80～10.10ドル（予想：9.96ドル） ・売上高：381～389億ドル（予想：390.1億ドル） ・既存事業売上高：4～6％（予想：+5.5％） ・FCF：56～60億ドル（予想：58.6億ドル）
Spanish News:
El grupo de ingeniería Honeywell se anotó un beneficio de 4.779 millones de dólares (3.938 millones de euros) en el conjunto de 2020, por lo que sus ganancias registraron una contracción del 23,3% en comparación con las contabilizadas durante 2019, según se desprende de las cuentas anuales publicadas este viernes por la empresa. La facturación de Honeywell entre enero y diciembre de 2020 se situó en 32.637 millones de dólares (26.675 millones de euros), lo que equivale a una caída del 11% frente a 2019. Por segmentos de negocio, la división aeroespacial se contrajo un 17,9%, hasta 11.544 millones de dólares (9.514 millones de euros), mientras que la rama de materiales y tecnologías de alto rendimiento se situó en 9.423 millones de dólares (7.766 millones de euros), un 13% menos. La rama de soluciones de seguridad y productividad experimentó un alza en sus ingresos del 6,1%, hasta 6.481 millones de dólares (5.341 millones de euros), al tiempo que la de tecnologías de construcción cayó un 9,2%, hasta 5.189 millones de dólares (4.276 millones de euros). El coste de los servicios y productos vendidos en el conjunto del año pasado fue de 22.169 millones de dólares (18.268 millones de euros), un 9% menos, mientras que los gastos de venta, generales y administrativos fueron de 4.772 millones de dólares (3.932 millones de euros), un 13,5% menos. Con respecto a los datos del cuarto trimestre, Honeywell observó un beneficio neto atribuido de 1.359 millones de dólares (1.120 millones de euros), un 13% menos, tras facturar un 6,3% menos que en el mismo periodo del año anterior, hasta 8.900 millones de dólares (7.334 millones de euros).
Greek News:
Το 2020, η Honeywell πέρασε σημαντικές προκλήσεις και ύφεση. Συγκεκριμένα, οι πωλήσεις της μειώθηκαν κατά 11,1%, πέφτοντας στα $32,6 δισεκατομμύρια σε σχέση με $32,6 δισεκατομμύρια το 2019. Παρόλα αυτά, η εταιρία επέδειξε ικανή χρηματοοικονομική διαχείριση, με στοχευμένες κινήσεις για την ενίσχυση της ρευστότητας και τη διατήρηση της επενδυτικής της δυναμικές, δίνοντας προτεραιότητα στη δημιουργία αξίας για τους μετόχους της. Κατά τη διάρκεια του έτους, η Honeywell αξιοποίησε ευέλικτα τα διαθέσιμα εργαλεία χρηματοδότησης, εξασφαλίζοντας $6 δισεκατομμύρια μέσω Συμφωνίας Δανείου με Καθυστερημένη Εκταμίευση. Το ποσό αυτό εξισορροπήθηκε εν μέρει μέσω δημόσιας έκδοσης Ανώτερων Ομολόγων $3 δισεκατομμυρίων τον Μάιο. Το υπόλοιπο του δανείου εκταμιεύτηκε και εξοφλήθηκε πλήρως εντός του έτους με νέα έκδοση ομολόγων, γεγονός που οδήγησε στη πλήρη εξάλειψη όλων των εκκρεμών δανειακών υποχρεώσεων της εταιρίας στο τέλος του 2020. Στο τέλος του έτους η εταιρία διέθετε $15,2 δισεκατομμύρια σε διαθέσιμα μετρητά, ταμειακά ισοδύναμα και βραχυπρόθεσμες επενδύσεις. Επιπλέον, η Honeywell διέθεσε συνολικά 7,5 δισεκατομμύρια δολάρια για κεφαλαιουχικές δαπάνες, μερίσματα, επαναγορές μετοχών και συγχωνεύσεις-εξαγορές, ποσό που υπερέβη τις λειτουργικές ταμειακές ροές της κατά περίπου 1,3 δισεκατομμύρια δολάρια. Παράλληλα, ενίσχυσε τα διαθέσιμά της και τις επενδύσεις βραχυπρόθεσμου ορίζοντα κατά 4,8 δισεκατομμύρια δολάρια, εξασφαλίζοντας σταθερότητα και επενδυτική ευελιξία εν μέσω αβεβαιότητας.
Question:
Please list the top three focuses on revenue from news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | Please list the top three focuses on revenue from news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: 1. Aerospace: Experienced a sharp decline. 2. Performance Materials and Technologies: Declined 13%. 3. Safety and Productivity Solutions: Increased 6.1%.
Financial Statement Evidence: In FY2020, Honeywell generated $24.7B in product sales and $7.9B in service sales, totaling $32.6B in revenue. This compares to FY2019, when product sales were $27.6B and service sales were $9.1B, totalling $36.7B in revenue. |
HON_20210212 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:------------------------------------------------------------------------------|:----------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | December 31, | | | | | | | | | | |
| 2020 | | 2019 | | | | | | | | | |
| | (Dollars in millions) | | | | | | | | | | |
| ASSETS | | | | | | | | | | | |
| Current assets: | | | | | | | | | | | |
| Cash and cash equivalents | $ | 14,275 | | | $ | 9,067 | | | | | |
| Short-term investments | 945 | | | 1,349 | | | | | | | |
| Accounts receivable—net | 6,827 | | | 7,493 | | | | | | | |
| Inventories | 4,489 | | | 4,421 | | | | | | | |
| Other current assets | 1,639 | | | 1,973 | | | | | | | |
| Total current assets | 28,175 | | | 24,303 | | | | | | | |
| Investments and long-term receivables | 685 | | | 588 | | | | | | | |
| Property, plant and equipment—net | 5,570 | | | 5,325 | | | | | | | |
| Goodwill | 16,058 | | | 15,563 | | | | | | | |
| Other intangible assets—net | 3,560 | | | 3,734 | | | | | | | |
| Insurance recoveries for asbestos related liabilities | 366 | | | 392 | | | | | | | |
| Deferred income taxes | 760 | | | 86 | | | | | | | |
| Other assets | 9,412 | | | 8,688 | | | | | | | |
| Total assets | $ | 64,586 | | | $ | 58,679 | | | | | |
| LIABILITIES | | | | | | | | | | | |
| Current liabilities: | | | | | | | | | | | |
| Accounts payable | $ | 5,750 | | | $ | 5,730 | | | | | |
| Commercial paper and other short-term borrowings | 3,597 | | | 3,516 | | | | | | | |
| Current maturities of long-term debt | 2,445 | | | 1,376 | | | | | | | |
| Accrued liabilities | 7,405 | | | 7,476 | | | | | | | |
| Total current liabilities | 19,197 | | | 18,098 | | | | | | | |
| Long-term debt | 16,342 | | | 11,110 | | | | | | | |
| Deferred income taxes | 2,113 | | | 1,670 | | | | | | | |
| Postretirement benefit obligations other than pensions | 242 | | | 326 | | | | | | | |
| Asbestos related liabilities | 1,920 | | | 1,996 | | | | | | | |
| Other liabilities | 6,975 | | | 6,766 | | | | | | | |
| Redeemable noncontrolling interest | 7 | | | 7 | | | | | | | |
| SHAREOWNERS’ EQUITY | | | | | | | | | | | |
| Capital—common stock issued | 958 | | | 958 | | | | | | | |
| —additional paid-in capital | 7,292 | | | 6,876 | | | | | | | |
| Common stock held in treasury, at cost | (27,229) | | | (23,836) | | | | | | | |
| Accumulated other comprehensive income (loss) | (3,377) | | | (3,197) | | | | | | | |
| Retained earnings | 39,905 | | | 37,693 | | | | | | | |
| Total Honeywell shareowners’ equity | 17,549 | | | 18,494 | | | | | | | |
| Noncontrolling interest | 241 | | | 212 | | | | | | | |
| Total shareowners’ equity | 17,790 | | | 18,706 | | | | | | | |
| Total liabilities, redeemable noncontrolling interest and shareowners’ equity | $ | 64,586 | | | $ | 58,679 | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 |
|:------------------------------------------------------------------------------------------------------------|:-------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | |
| | Years Ended December 31, | | | | | | | | | | | | | | | | |
| 2020 | | 2019 | | 2018 | | | | | | | | | | | | | |
| | (Dollars in millions) | | | | | | | | | | | | | | | | |
| Cash flows from operating activities: | | | | | | | | | | | | | | | | | |
| Net income | $ | 4,865 | | | $ | 6,230 | | | $ | 6,828 | | | | | | | |
| Less: Net income attributable to the noncontrolling interest | 86 | | | 87 | | | 63 | | | | | | | | | | |
| Net income attributable to Honeywell | 4,779 | | | 6,143 | | | 6,765 | | | | | | | | | | |
| Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities: | | | | | | | | | | | | | | | | | |
| Depreciation | 644 | | | 673 | | | 721 | | | | | | | | | | |
| Amortization | 358 | | | 415 | | | 395 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | |
| Repositioning and other charges | 575 | | | 546 | | | 1,091 | | | | | | | | | | |
| Net payments for repositioning and other charges | (833) | | | (376) | | | (652) | | | | | | | | | | |
| Pension and other postretirement income | (798) | | | (516) | | | (987) | | | | | | | | | | |
| Pension and other postretirement benefit payments | (47) | | | (78) | | | (80) | | | | | | | | | | |
| Stock compensation expense | 168 | | | 153 | | | 175 | | | | | | | | | | |
| Deferred income taxes | (175) | | | 179 | | | (586) | | | | | | | | | | |
| Reimbursement receivables charge | 509 | | | — | | | — | | | | | | | | | | |
| Other | (335) | | | (286) | | | (694) | | | | | | | | | | |
| Changes in assets and liabilities, net of the effects of acquisitions and divestitures: | | | | | | | | | | | | | | | | | |
| Accounts receivable | 669 | | | 11 | | | (236) | | | | | | | | | | |
| Inventories | (67) | | | (100) | | | (503) | | | | | | | | | | |
| Other current assets | 191 | | | (430) | | | 218 | | | | | | | | | | |
| Accounts payable | 15 | | | 118 | | | 733 | | | | | | | | | | |
| Accrued liabilities | 555 | | | 445 | | | 74 | | | | | | | | | | |
| Net cash provided by (used for) operating activities | 6,208 | | | 6,897 | | | 6,434 | | | | | | | | | | |
| Cash flows from investing activities: | | | | | | | | | | | | | | | | | |
| Expenditures for property, plant and equipment | (906) | | | (839) | | | (828) | | | | | | | | | | |
| Proceeds from disposals of property, plant and equipment | 57 | | | 43 | | | 15 | | | | | | | | | | |
| Increase in investments | (3,236) | | | (4,253) | | | (4,059) | | | | | | | | | | |
| Decrease in investments | 3,508 | | | 4,464 | | | 6,032 | | | | | | | | | | |
| Receipts (payments) from settlements of derivative contracts | (149) | | | 102 | | | 402 | | | | | | | | | | |
| Cash paid for acquisitions, net of cash acquired | (261) | | | (50) | | | (535) | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | |
| Net cash provided by (used for) investing activities | (987) | | | (533) | | | 1,027 | | | | | | | | | | |
| Cash flows from financing activities: | | | | | | | | | | | | | | | | | |
| Proceeds from issuance of commercial paper and other short-term borrowings | 10,474 | | | 14,199 | | | 23,891 | | | | | | | | | | |
| Payments of commercial paper and other short-term borrowings | (10,400) | | | (14,199) | | | (24,095) | | | | | | | | | | |
| Proceeds from issuance of common stock | 393 | | | 498 | | | 267 | | | | | | | | | | |
| Proceeds from issuance of long-term debt | 10,125 | | | 2,726 | | | 27 | | | | | | | | | | |
| Payments of long-term debt | (4,308) | | | (2,903) | | | (1,330) | | | | | | | | | | |
| Repurchases of common stock | (3,714) | | | (4,400) | | | (4,000) | | | | | | | | | | |
| Cash dividends paid | (2,592) | | | (2,442) | | | (2,272) | | | | | | | | | | |
| Pre-separation funding | — | | | — | | | 2,801 | | | | | | | | | | |
| Spin-off cash | — | | | — | | | (179) | | | | | | | | | | |
| Other | (59) | | | (79) | | | (142) | | | | | | | | | | |
| Net cash provided by (used for) financing activities | (81) | | | (6,600) | | | (5,032) | | | | | | | | | | |
| Effect of foreign exchange rate changes on cash and cash equivalents | 68 | | | 16 | | | (201) | | | | | | | | | | |
| Net increase (decrease) in cash and cash equivalents | 5,208 | | | (220) | | | 2,228 | | | | | | | | | | |
| Cash and cash equivalents at beginning of period | 9,067 | | | 9,287 | | | 7,059 | | | | | | | | | | |
| Cash and cash equivalents at end of period | $ | 14,275 | | | $ | 9,067 | | | $ | 9,287 | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 |
|:-------------------------------------------------------------|:-----------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | |
| | Years Ended December 31, | | | | | | | | | | | | | | | | |
| 2020 | | 2019 | | 2018 | | | | | | | | | | | | | |
| | (Dollars in millions,except per share amounts) | | | | | | | | | | | | | | | | |
| Product sales | $ | 24,737 | | | $ | 27,629 | | | $ | 32,848 | | | | | | | |
| Service sales | 7,900 | | | 9,080 | | | 8,954 | | | | | | | | | | |
| Net sales | 32,637 | | | 36,709 | | | 41,802 | | | | | | | | | | |
| Costs, expenses and other | | | | | | | | | | | | | | | | | |
| Cost of products sold | 17,638 | | | 19,269 | | | 23,634 | | | | | | | | | | |
| Cost of services sold | 4,531 | | | 5,070 | | | 5,412 | | | | | | | | | | |
| | 22,169 | | | 24,339 | | | 29,046 | | | | | | | | | | |
| Selling, general and administrative expenses | 4,772 | | | 5,519 | | | 6,051 | | | | | | | | | | |
| Other (income) expense | (675) | | | (1,065) | | | (1,149) | | | | | | | | | | |
| Interest and other financial charges | 359 | | | 357 | | | 367 | | | | | | | | | | |
| | 26,625 | | | 29,150 | | | 34,315 | | | | | | | | | | |
| Income before taxes | 6,012 | | | 7,559 | | | 7,487 | | | | | | | | | | |
| Tax expense | 1,147 | | | 1,329 | | | 659 | | | | | | | | | | |
| Net income | 4,865 | | | 6,230 | | | 6,828 | | | | | | | | | | |
| Less: Net income attributable to the noncontrolling interest | 86 | | | 87 | | | 63 | | | | | | | | | | |
| Net income attributable to Honeywell | $ | 4,779 | | | $ | 6,143 | | | $ | 6,765 | | | | | | | |
| Earnings per share of common stock—basic | $ | 6.79 | | | $ | 8.52 | | | $ | 9.10 | | | | | | | |
| Earnings per share of common stock—assuming dilution | $ | 6.72 | | | $ | 8.41 | | | $ | 8.98 | | | | | | | |
---
English News:
"Global Smart Thermostats Market Trends, Forecast and Competitive Analysis Report 2021 - ResearchAndMarkets.com - DUBLIN--(BUSINESS WIRE)--The \"Smart Thermostats Market Report: Trends, Forecast and Competitive Analysis\" report has been added to ResearchAndMarkets.com's offering. The global smart thermostats market is expected to grow with a CAGR of 31% from 2019 to 2024. The future of the smart thermostats market looks promising with opportunities in the residential, office building, educational buildings, industrial building, retail, hospitality, and healthcare industries. The major drivers for this market are stringent government regulation towards energy saving, increasing demand for energy-efficient devices, and increasing adoption of smart home technology. The study includes the smart thermostats market size and forecast for the global smart thermostats market by technology, component, end use industry, and region. Some of the smart thermostats companies profiled in this report include Nest Labs, Inc., Honeywell International Inc., Ecobee, Inc. , Emerson Electric Co., Schneider Electric SE, Tado GmbH, Control4 Corporation, Ingersoll Rand PLC, Carrier Corporation, Nortek, Inc Some of the features of smart thermostats market report: Trends, Forecast, and Opportunity Analysis include: This report answers the following 11 key questions: Key Topics Covered: 1. Executive Summary 2. Market Trends and Forecast Analysis from 2013 to 2024 2.1: Introduction, Background, and Classification 2.2: Supply Chain 2.3: Industry Drivers and Challenges 3. Market Trends and Forecast Analysis from 2013 to 2024 3.1: Macroeconomic Trends and Forecast 3.2: Global Smart Thermostats Market: Trends and Forecast 3.3: Global Smart Thermostats Market by Technology 3.3.1: Wired Networking 3.3.2: Wireless Networking: Wi-Fi, ZigBee, Z-Wave and Bluetooth 3.4: Global Smart Thermostats Market by Component 3.4.1: Display Sensor 3.4.2: Temperature Sensor 3.4.3: Humidity Sensor 3.4.4: Motion Sensor 3.5: Global Smart Thermostats Market by End Use Industry 3.5.1: Residential 3.5.2: Educational 3.5.3: Retail 3.5.4: Hospitality and Healthcare 3.5.5: Office and Industrial Building 4. Market Trends and Forecast Analysis by Region 4.1: Global Smart Thermostats Market by Region 4.2: North American Smart Thermostats Market 4.2.1: Market by End Use Industry: Residential, Educational, Retail, Hospitality and Healthcare, and Office & Industrial building 4.2.2: Market by Technology: Wired and Wireless Networking 4.2.3: United States Smart Thermostats Market 4.2.4: Canadian Smart Thermostats Market 4.2.5: Mexican Smart Thermostats Market 4.3: European Smart Thermostats Market 4.4: APAC Smart Thermostats Market 4.5: ROW Smart Thermostats Market 5. Competitor Analysis 5.1: Product Portfolio Analysis 5.2: Market Share Analysis 5.3: Operational Integration 5.4: Regional Reach 5.5: Porter's Five Forces Analysis 6. Growth Opportunities and Strategic Analysis 6.1: Growth Opportunity Analysis 6.1.1: Growth Opportunities for Global Smart Thermostats Market by Technology 6.1.2: Growth Opportunities for Global Smart Thermostats Market by Component 6.1.3: Growth Opportunities for Global Smart Thermostats Market by End Use Industry 6.1.4: Growth Opportunities for Global Smart Thermostats Market by Region 6.2: Emerging Trends in Global Smart Thermostats Market 6.3: Strategic Analysis 6.3.1: New Product Development 6.3.2: Capacity Expansion of Global Smart Thermostats Market 6.3.3: Mergers, Acquisitions and Joint Ventures in the Global Market 6.3.4: Certification and Licensing 7. Company Profiles of Leading Players 7.1: Nest Labs 7.2: Honeywell International 7.3: Ecobee 7.4: Emerson Electric 7.5: Schneider Electric 7.6: Tado 7.7: Control4 Corporation 7.8: Ingersoll Rand PLC 7.9: Carrier Corporation 7.10: Nortek For more information about this report visit https://www.researchandmarkets.com/r/6tig4a",
Chinese News:
霍尼韦尔（纽交所代码：HON）近日发布了超出投资者预期的2020年第四季度和全年财务业绩，并同时公布2021年展望。公司第四季度报告销售额及内生式销售额分别同比下降6%和7%，全年报告及内生式销售额下降11%。就全年而言，营运利润率下降120个基点，部门利润 率下降70个基点，每股收益为6.72美元，调整后每股收益[4]为7.10美元，高于业绩指引预测范围上限。“我们在销售额增长、利润率提高以及调 整后每股收益方面再次取得了季度性持续改善，从而收官充满挑战的2020年，”霍尼韦尔董事长兼首席执行官杜瑞哲表示：“我们专注于提供差异 化的解决方案，从而在防务及航天业务、仓储自动化、个人防护装备以及经常性互联软件业务方面连续第二个季度实现两位数的内生式销售额增 长。本季度，我们继续审慎地降低成本，使我们全年的总固定成本节省额达到15亿美元。我们的第四季度调整后每股收益为2.07美元，以调整后 基准[1]计与上年持平，高于业绩指引预测范围上限。另外，我们继续专注于现金创收，于本季度实现了170%的调整后自由现金流转换率[2]。全 年营运现金流为62亿美元，转换率为130%，自由现金流为53亿美元，调整后自由现金流转换率为105%[5]。 杜瑞哲说：“霍尼韦尔强劲的资产负债表使我们具备优势，以应对2020年的挑战，同时进行投资以实现未来增长。我们投资于高回报的资本支出，回购了37亿美元的霍尼韦尔股份，完 成了三宗收购事项，在霍尼韦尔创投（Honeywell Ventures）内部投资于六个新项目，并宣布连续第11年实现股息增长。尽管有如此大规模的现 金部署，我们在2020年末仍拥有152亿美元的现金和短期投资。” 公司同时发布了2021年展望。霍尼韦尔预期2021年销售额将在334亿美元至344亿美元区间，相当于内生式同比增长率处于1%至4%的水平；部门利润率增长30个基点至70个基点；每股收益为7.60美元至8.00美元，调整后增幅[3]为7%至13%；营运现金流在57亿美元至61亿美元之间，自由现金流[6]在51亿美元至55亿美元之间。公司的2021年业绩指引概要参见表1。杜瑞哲总结道：“我对霍尼韦尔在2020年的危机中的表现深感自豪。为助力全球复苏，我们迅速地着力于流动性、成本管理及执行，同时快速创新并对包括重要个人防护设备在内的一系列产品扩大生产。我们还继续专注于增长并投资于新市场和新技术。经过连续两个季度的业绩改善，我们以积极的 势头进入了2021年。我相信，我们为迎接经济复苏作好了准备，并将在短期和长期内继续取得让我们的股东、客户和员工满意的业绩。”第4季度 业绩霍尼韦尔第四季度报告销售额和内生式销售额分别下降6%和7%。有关第四季度的具体财务数据请参阅表2和表3。航空航天集团第四季度内生 式销售额下降19%，主要受到航班时间缩减和商用航空原始设备销量下降等因素持续影响，导致商用航空售后市场需求放缓，而防务及航天业务的两位数增长部分抵消了上述不利影响。部门利润率上涨150个基点至27.6%，主要得益于提升生产力的措施和卓越商业运营。智能建筑科技集团第 四季度内生式销售额下降4%，主要由于建筑智能系统项目进度影响以及安防产品及建筑控制系统需求减弱，而商业楼宇消防业务增长部分抵消了 上述不利影响。得益于北美及欧洲的大型项目，建筑智能系统事业部订单实现了两位数的同比增长。部门利润率增加110个基点至21.4%，主要得 益于卓越商业运营和提升生产力的措施。特性材料和技术集团第四季度内生式销售额下降12%，主要由于过程控制部自动化项目的持续延迟，智慧能源和热能解决方案的业务量下降，以及在石油和天然气行业疲软的影响下，UOP的气体加工项目、催化剂交付、技术许可和工程项目等业务量的下降；而高性能材料部受氟产品需求推动业务恢复增长，部分抵消了上述不利影响。受到销售量减少和组合因素的影响，该集团部门利润率降低380个基点至18.7%，而提升生产力的措施部分抵消了这一趋势。安全与生产力解决方案集团第四季度内生式销售额增长27%，主要得益于Intelligrated智能仓储业务和个人防护装备业务取得的两位数增长，以及强劲的生产力解决方案及服务业务。受个人防护装备业务以及生产力解决方案和 服务业务的订单强劲增长推动，订单连续第五个季度实现两位数同比增长。订单储存仍保持在历史高位。得益于提升生产力的措施和销量增加， 部门利润率增加260个基点至15.3%。
Japanese News:
コングロマリットのハネウェル＜HON＞が下落。取引開始前に１０－１２月期決算（第４四半期）を発表し、１株利益は予想範囲内だったものの、売上高が予想を下回った。ガイダンスも公表し、第１四半期、通期とも予想を下回る売上高見通しを示している。 第４四半期の売上高は航空宇宙部門が１５％増となったものの、ビル用防火・セキュリティ製品や倉庫ソリューションの部門が減収となった。 カプールＣＥＯは「オートメーション、航空、エネルギー転換の各分野の需要にけん引され、売上高と利益の成長を加速させる好位置にある」と述べた。 同社はまた、アダムチク会長が退任することから、カプールＣＥＯが６月に会長職も兼務する人事を発表した。 （１０－１２月・第４四半期） ・1株利益（調整後）：2.60ドル（予想：2.59ドル） ・売上高：94.4億ドル（予想：97.0億ドル） 航空宇宙：36.7億ドル（予想：37.1億ドル） 素材＆テクノロジー：30.3億ドル（予想：31.1億ドル） 建設：15.0億ドル（予想：15.4億ドル） 安全・生産性：12.3億ドル（予想：13.2億ドル） ・既存事業売上高：+2％（予想：+5％） ・ＦＣＦ：25.9億ドル（予想：23.1億ドル） （１－３月・第１四半期見通し） ・1株利益（調整後）：2.12～2.22ドル（予想：2.24ドル） ・売上高：89～92億ドル（予想：92.5億ドル） （通期見通し） ・1株利益（調整後）：9.80～10.10ドル（予想：9.96ドル） ・売上高：381～389億ドル（予想：390.1億ドル） ・既存事業売上高：4～6％（予想：+5.5％） ・FCF：56～60億ドル（予想：58.6億ドル）
Spanish News:
El grupo de ingeniería Honeywell se anotó un beneficio de 4.779 millones de dólares (3.938 millones de euros) en el conjunto de 2020, por lo que sus ganancias registraron una contracción del 23,3% en comparación con las contabilizadas durante 2019, según se desprende de las cuentas anuales publicadas este viernes por la empresa. La facturación de Honeywell entre enero y diciembre de 2020 se situó en 32.637 millones de dólares (26.675 millones de euros), lo que equivale a una caída del 11% frente a 2019. Por segmentos de negocio, la división aeroespacial se contrajo un 17,9%, hasta 11.544 millones de dólares (9.514 millones de euros), mientras que la rama de materiales y tecnologías de alto rendimiento se situó en 9.423 millones de dólares (7.766 millones de euros), un 13% menos. La rama de soluciones de seguridad y productividad experimentó un alza en sus ingresos del 6,1%, hasta 6.481 millones de dólares (5.341 millones de euros), al tiempo que la de tecnologías de construcción cayó un 9,2%, hasta 5.189 millones de dólares (4.276 millones de euros). El coste de los servicios y productos vendidos en el conjunto del año pasado fue de 22.169 millones de dólares (18.268 millones de euros), un 9% menos, mientras que los gastos de venta, generales y administrativos fueron de 4.772 millones de dólares (3.932 millones de euros), un 13,5% menos. Con respecto a los datos del cuarto trimestre, Honeywell observó un beneficio neto atribuido de 1.359 millones de dólares (1.120 millones de euros), un 13% menos, tras facturar un 6,3% menos que en el mismo periodo del año anterior, hasta 8.900 millones de dólares (7.334 millones de euros).
Greek News:
Το 2020, η Honeywell πέρασε σημαντικές προκλήσεις και ύφεση. Συγκεκριμένα, οι πωλήσεις της μειώθηκαν κατά 11,1%, πέφτοντας στα $32,6 δισεκατομμύρια σε σχέση με $32,6 δισεκατομμύρια το 2019. Παρόλα αυτά, η εταιρία επέδειξε ικανή χρηματοοικονομική διαχείριση, με στοχευμένες κινήσεις για την ενίσχυση της ρευστότητας και τη διατήρηση της επενδυτικής της δυναμικές, δίνοντας προτεραιότητα στη δημιουργία αξίας για τους μετόχους της. Κατά τη διάρκεια του έτους, η Honeywell αξιοποίησε ευέλικτα τα διαθέσιμα εργαλεία χρηματοδότησης, εξασφαλίζοντας $6 δισεκατομμύρια μέσω Συμφωνίας Δανείου με Καθυστερημένη Εκταμίευση. Το ποσό αυτό εξισορροπήθηκε εν μέρει μέσω δημόσιας έκδοσης Ανώτερων Ομολόγων $3 δισεκατομμυρίων τον Μάιο. Το υπόλοιπο του δανείου εκταμιεύτηκε και εξοφλήθηκε πλήρως εντός του έτους με νέα έκδοση ομολόγων, γεγονός που οδήγησε στη πλήρη εξάλειψη όλων των εκκρεμών δανειακών υποχρεώσεων της εταιρίας στο τέλος του 2020. Στο τέλος του έτους η εταιρία διέθετε $15,2 δισεκατομμύρια σε διαθέσιμα μετρητά, ταμειακά ισοδύναμα και βραχυπρόθεσμες επενδύσεις. Επιπλέον, η Honeywell διέθεσε συνολικά 7,5 δισεκατομμύρια δολάρια για κεφαλαιουχικές δαπάνες, μερίσματα, επαναγορές μετοχών και συγχωνεύσεις-εξαγορές, ποσό που υπερέβη τις λειτουργικές ταμειακές ροές της κατά περίπου 1,3 δισεκατομμύρια δολάρια. Παράλληλα, ενίσχυσε τα διαθέσιμά της και τις επενδύσεις βραχυπρόθεσμου ορίζοντα κατά 4,8 δισεκατομμύρια δολάρια, εξασφαλίζοντας σταθερότητα και επενδυτική ευελιξία εν μέσω αβεβαιότητας.
Question:
How is the company allocating capital (e.g., investments, share repurchases, dividends) based on its performance and market outlook from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | How is the company allocating capital (e.g., investments, share repurchases, dividends) based on its performance and market outlook from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: In FY2020, Honeywell deployed $7.5B across capital expenditures, three acquisitions, six venture projects, and maintained annual dividend growth for the 11th consecutive year all despite economic uncertainty.
Financial Statement Evidence: In FY2020, Honeywell repurchased $3.7B in stock and paid $2.6B in dividends and spent $906M on capital expenditures. |
HON_20210212 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:------------------------------------------------------------------------------|:----------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | December 31, | | | | | | | | | | |
| 2020 | | 2019 | | | | | | | | | |
| | (Dollars in millions) | | | | | | | | | | |
| ASSETS | | | | | | | | | | | |
| Current assets: | | | | | | | | | | | |
| Cash and cash equivalents | $ | 14,275 | | | $ | 9,067 | | | | | |
| Short-term investments | 945 | | | 1,349 | | | | | | | |
| Accounts receivable—net | 6,827 | | | 7,493 | | | | | | | |
| Inventories | 4,489 | | | 4,421 | | | | | | | |
| Other current assets | 1,639 | | | 1,973 | | | | | | | |
| Total current assets | 28,175 | | | 24,303 | | | | | | | |
| Investments and long-term receivables | 685 | | | 588 | | | | | | | |
| Property, plant and equipment—net | 5,570 | | | 5,325 | | | | | | | |
| Goodwill | 16,058 | | | 15,563 | | | | | | | |
| Other intangible assets—net | 3,560 | | | 3,734 | | | | | | | |
| Insurance recoveries for asbestos related liabilities | 366 | | | 392 | | | | | | | |
| Deferred income taxes | 760 | | | 86 | | | | | | | |
| Other assets | 9,412 | | | 8,688 | | | | | | | |
| Total assets | $ | 64,586 | | | $ | 58,679 | | | | | |
| LIABILITIES | | | | | | | | | | | |
| Current liabilities: | | | | | | | | | | | |
| Accounts payable | $ | 5,750 | | | $ | 5,730 | | | | | |
| Commercial paper and other short-term borrowings | 3,597 | | | 3,516 | | | | | | | |
| Current maturities of long-term debt | 2,445 | | | 1,376 | | | | | | | |
| Accrued liabilities | 7,405 | | | 7,476 | | | | | | | |
| Total current liabilities | 19,197 | | | 18,098 | | | | | | | |
| Long-term debt | 16,342 | | | 11,110 | | | | | | | |
| Deferred income taxes | 2,113 | | | 1,670 | | | | | | | |
| Postretirement benefit obligations other than pensions | 242 | | | 326 | | | | | | | |
| Asbestos related liabilities | 1,920 | | | 1,996 | | | | | | | |
| Other liabilities | 6,975 | | | 6,766 | | | | | | | |
| Redeemable noncontrolling interest | 7 | | | 7 | | | | | | | |
| SHAREOWNERS’ EQUITY | | | | | | | | | | | |
| Capital—common stock issued | 958 | | | 958 | | | | | | | |
| —additional paid-in capital | 7,292 | | | 6,876 | | | | | | | |
| Common stock held in treasury, at cost | (27,229) | | | (23,836) | | | | | | | |
| Accumulated other comprehensive income (loss) | (3,377) | | | (3,197) | | | | | | | |
| Retained earnings | 39,905 | | | 37,693 | | | | | | | |
| Total Honeywell shareowners’ equity | 17,549 | | | 18,494 | | | | | | | |
| Noncontrolling interest | 241 | | | 212 | | | | | | | |
| Total shareowners’ equity | 17,790 | | | 18,706 | | | | | | | |
| Total liabilities, redeemable noncontrolling interest and shareowners’ equity | $ | 64,586 | | | $ | 58,679 | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 |
|:------------------------------------------------------------------------------------------------------------|:-------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | |
| | Years Ended December 31, | | | | | | | | | | | | | | | | |
| 2020 | | 2019 | | 2018 | | | | | | | | | | | | | |
| | (Dollars in millions) | | | | | | | | | | | | | | | | |
| Cash flows from operating activities: | | | | | | | | | | | | | | | | | |
| Net income | $ | 4,865 | | | $ | 6,230 | | | $ | 6,828 | | | | | | | |
| Less: Net income attributable to the noncontrolling interest | 86 | | | 87 | | | 63 | | | | | | | | | | |
| Net income attributable to Honeywell | 4,779 | | | 6,143 | | | 6,765 | | | | | | | | | | |
| Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities: | | | | | | | | | | | | | | | | | |
| Depreciation | 644 | | | 673 | | | 721 | | | | | | | | | | |
| Amortization | 358 | | | 415 | | | 395 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | |
| Repositioning and other charges | 575 | | | 546 | | | 1,091 | | | | | | | | | | |
| Net payments for repositioning and other charges | (833) | | | (376) | | | (652) | | | | | | | | | | |
| Pension and other postretirement income | (798) | | | (516) | | | (987) | | | | | | | | | | |
| Pension and other postretirement benefit payments | (47) | | | (78) | | | (80) | | | | | | | | | | |
| Stock compensation expense | 168 | | | 153 | | | 175 | | | | | | | | | | |
| Deferred income taxes | (175) | | | 179 | | | (586) | | | | | | | | | | |
| Reimbursement receivables charge | 509 | | | — | | | — | | | | | | | | | | |
| Other | (335) | | | (286) | | | (694) | | | | | | | | | | |
| Changes in assets and liabilities, net of the effects of acquisitions and divestitures: | | | | | | | | | | | | | | | | | |
| Accounts receivable | 669 | | | 11 | | | (236) | | | | | | | | | | |
| Inventories | (67) | | | (100) | | | (503) | | | | | | | | | | |
| Other current assets | 191 | | | (430) | | | 218 | | | | | | | | | | |
| Accounts payable | 15 | | | 118 | | | 733 | | | | | | | | | | |
| Accrued liabilities | 555 | | | 445 | | | 74 | | | | | | | | | | |
| Net cash provided by (used for) operating activities | 6,208 | | | 6,897 | | | 6,434 | | | | | | | | | | |
| Cash flows from investing activities: | | | | | | | | | | | | | | | | | |
| Expenditures for property, plant and equipment | (906) | | | (839) | | | (828) | | | | | | | | | | |
| Proceeds from disposals of property, plant and equipment | 57 | | | 43 | | | 15 | | | | | | | | | | |
| Increase in investments | (3,236) | | | (4,253) | | | (4,059) | | | | | | | | | | |
| Decrease in investments | 3,508 | | | 4,464 | | | 6,032 | | | | | | | | | | |
| Receipts (payments) from settlements of derivative contracts | (149) | | | 102 | | | 402 | | | | | | | | | | |
| Cash paid for acquisitions, net of cash acquired | (261) | | | (50) | | | (535) | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | |
| Net cash provided by (used for) investing activities | (987) | | | (533) | | | 1,027 | | | | | | | | | | |
| Cash flows from financing activities: | | | | | | | | | | | | | | | | | |
| Proceeds from issuance of commercial paper and other short-term borrowings | 10,474 | | | 14,199 | | | 23,891 | | | | | | | | | | |
| Payments of commercial paper and other short-term borrowings | (10,400) | | | (14,199) | | | (24,095) | | | | | | | | | | |
| Proceeds from issuance of common stock | 393 | | | 498 | | | 267 | | | | | | | | | | |
| Proceeds from issuance of long-term debt | 10,125 | | | 2,726 | | | 27 | | | | | | | | | | |
| Payments of long-term debt | (4,308) | | | (2,903) | | | (1,330) | | | | | | | | | | |
| Repurchases of common stock | (3,714) | | | (4,400) | | | (4,000) | | | | | | | | | | |
| Cash dividends paid | (2,592) | | | (2,442) | | | (2,272) | | | | | | | | | | |
| Pre-separation funding | — | | | — | | | 2,801 | | | | | | | | | | |
| Spin-off cash | — | | | — | | | (179) | | | | | | | | | | |
| Other | (59) | | | (79) | | | (142) | | | | | | | | | | |
| Net cash provided by (used for) financing activities | (81) | | | (6,600) | | | (5,032) | | | | | | | | | | |
| Effect of foreign exchange rate changes on cash and cash equivalents | 68 | | | 16 | | | (201) | | | | | | | | | | |
| Net increase (decrease) in cash and cash equivalents | 5,208 | | | (220) | | | 2,228 | | | | | | | | | | |
| Cash and cash equivalents at beginning of period | 9,067 | | | 9,287 | | | 7,059 | | | | | | | | | | |
| Cash and cash equivalents at end of period | $ | 14,275 | | | $ | 9,067 | | | $ | 9,287 | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 |
|:-------------------------------------------------------------|:-----------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | |
| | Years Ended December 31, | | | | | | | | | | | | | | | | |
| 2020 | | 2019 | | 2018 | | | | | | | | | | | | | |
| | (Dollars in millions,except per share amounts) | | | | | | | | | | | | | | | | |
| Product sales | $ | 24,737 | | | $ | 27,629 | | | $ | 32,848 | | | | | | | |
| Service sales | 7,900 | | | 9,080 | | | 8,954 | | | | | | | | | | |
| Net sales | 32,637 | | | 36,709 | | | 41,802 | | | | | | | | | | |
| Costs, expenses and other | | | | | | | | | | | | | | | | | |
| Cost of products sold | 17,638 | | | 19,269 | | | 23,634 | | | | | | | | | | |
| Cost of services sold | 4,531 | | | 5,070 | | | 5,412 | | | | | | | | | | |
| | 22,169 | | | 24,339 | | | 29,046 | | | | | | | | | | |
| Selling, general and administrative expenses | 4,772 | | | 5,519 | | | 6,051 | | | | | | | | | | |
| Other (income) expense | (675) | | | (1,065) | | | (1,149) | | | | | | | | | | |
| Interest and other financial charges | 359 | | | 357 | | | 367 | | | | | | | | | | |
| | 26,625 | | | 29,150 | | | 34,315 | | | | | | | | | | |
| Income before taxes | 6,012 | | | 7,559 | | | 7,487 | | | | | | | | | | |
| Tax expense | 1,147 | | | 1,329 | | | 659 | | | | | | | | | | |
| Net income | 4,865 | | | 6,230 | | | 6,828 | | | | | | | | | | |
| Less: Net income attributable to the noncontrolling interest | 86 | | | 87 | | | 63 | | | | | | | | | | |
| Net income attributable to Honeywell | $ | 4,779 | | | $ | 6,143 | | | $ | 6,765 | | | | | | | |
| Earnings per share of common stock—basic | $ | 6.79 | | | $ | 8.52 | | | $ | 9.10 | | | | | | | |
| Earnings per share of common stock—assuming dilution | $ | 6.72 | | | $ | 8.41 | | | $ | 8.98 | | | | | | | |
---
English News:
"Global Smart Thermostats Market Trends, Forecast and Competitive Analysis Report 2021 - ResearchAndMarkets.com - DUBLIN--(BUSINESS WIRE)--The \"Smart Thermostats Market Report: Trends, Forecast and Competitive Analysis\" report has been added to ResearchAndMarkets.com's offering. The global smart thermostats market is expected to grow with a CAGR of 31% from 2019 to 2024. The future of the smart thermostats market looks promising with opportunities in the residential, office building, educational buildings, industrial building, retail, hospitality, and healthcare industries. The major drivers for this market are stringent government regulation towards energy saving, increasing demand for energy-efficient devices, and increasing adoption of smart home technology. The study includes the smart thermostats market size and forecast for the global smart thermostats market by technology, component, end use industry, and region. Some of the smart thermostats companies profiled in this report include Nest Labs, Inc., Honeywell International Inc., Ecobee, Inc. , Emerson Electric Co., Schneider Electric SE, Tado GmbH, Control4 Corporation, Ingersoll Rand PLC, Carrier Corporation, Nortek, Inc Some of the features of smart thermostats market report: Trends, Forecast, and Opportunity Analysis include: This report answers the following 11 key questions: Key Topics Covered: 1. Executive Summary 2. Market Trends and Forecast Analysis from 2013 to 2024 2.1: Introduction, Background, and Classification 2.2: Supply Chain 2.3: Industry Drivers and Challenges 3. Market Trends and Forecast Analysis from 2013 to 2024 3.1: Macroeconomic Trends and Forecast 3.2: Global Smart Thermostats Market: Trends and Forecast 3.3: Global Smart Thermostats Market by Technology 3.3.1: Wired Networking 3.3.2: Wireless Networking: Wi-Fi, ZigBee, Z-Wave and Bluetooth 3.4: Global Smart Thermostats Market by Component 3.4.1: Display Sensor 3.4.2: Temperature Sensor 3.4.3: Humidity Sensor 3.4.4: Motion Sensor 3.5: Global Smart Thermostats Market by End Use Industry 3.5.1: Residential 3.5.2: Educational 3.5.3: Retail 3.5.4: Hospitality and Healthcare 3.5.5: Office and Industrial Building 4. Market Trends and Forecast Analysis by Region 4.1: Global Smart Thermostats Market by Region 4.2: North American Smart Thermostats Market 4.2.1: Market by End Use Industry: Residential, Educational, Retail, Hospitality and Healthcare, and Office & Industrial building 4.2.2: Market by Technology: Wired and Wireless Networking 4.2.3: United States Smart Thermostats Market 4.2.4: Canadian Smart Thermostats Market 4.2.5: Mexican Smart Thermostats Market 4.3: European Smart Thermostats Market 4.4: APAC Smart Thermostats Market 4.5: ROW Smart Thermostats Market 5. Competitor Analysis 5.1: Product Portfolio Analysis 5.2: Market Share Analysis 5.3: Operational Integration 5.4: Regional Reach 5.5: Porter's Five Forces Analysis 6. Growth Opportunities and Strategic Analysis 6.1: Growth Opportunity Analysis 6.1.1: Growth Opportunities for Global Smart Thermostats Market by Technology 6.1.2: Growth Opportunities for Global Smart Thermostats Market by Component 6.1.3: Growth Opportunities for Global Smart Thermostats Market by End Use Industry 6.1.4: Growth Opportunities for Global Smart Thermostats Market by Region 6.2: Emerging Trends in Global Smart Thermostats Market 6.3: Strategic Analysis 6.3.1: New Product Development 6.3.2: Capacity Expansion of Global Smart Thermostats Market 6.3.3: Mergers, Acquisitions and Joint Ventures in the Global Market 6.3.4: Certification and Licensing 7. Company Profiles of Leading Players 7.1: Nest Labs 7.2: Honeywell International 7.3: Ecobee 7.4: Emerson Electric 7.5: Schneider Electric 7.6: Tado 7.7: Control4 Corporation 7.8: Ingersoll Rand PLC 7.9: Carrier Corporation 7.10: Nortek For more information about this report visit https://www.researchandmarkets.com/r/6tig4a",
Chinese News:
霍尼韦尔（纽交所代码：HON）近日发布了超出投资者预期的2020年第四季度和全年财务业绩，并同时公布2021年展望。公司第四季度报告销售额及内生式销售额分别同比下降6%和7%，全年报告及内生式销售额下降11%。就全年而言，营运利润率下降120个基点，部门利润 率下降70个基点，每股收益为6.72美元，调整后每股收益[4]为7.10美元，高于业绩指引预测范围上限。“我们在销售额增长、利润率提高以及调 整后每股收益方面再次取得了季度性持续改善，从而收官充满挑战的2020年，”霍尼韦尔董事长兼首席执行官杜瑞哲表示：“我们专注于提供差异 化的解决方案，从而在防务及航天业务、仓储自动化、个人防护装备以及经常性互联软件业务方面连续第二个季度实现两位数的内生式销售额增 长。本季度，我们继续审慎地降低成本，使我们全年的总固定成本节省额达到15亿美元。我们的第四季度调整后每股收益为2.07美元，以调整后 基准[1]计与上年持平，高于业绩指引预测范围上限。另外，我们继续专注于现金创收，于本季度实现了170%的调整后自由现金流转换率[2]。全 年营运现金流为62亿美元，转换率为130%，自由现金流为53亿美元，调整后自由现金流转换率为105%[5]。 杜瑞哲说：“霍尼韦尔强劲的资产负债表使我们具备优势，以应对2020年的挑战，同时进行投资以实现未来增长。我们投资于高回报的资本支出，回购了37亿美元的霍尼韦尔股份，完 成了三宗收购事项，在霍尼韦尔创投（Honeywell Ventures）内部投资于六个新项目，并宣布连续第11年实现股息增长。尽管有如此大规模的现 金部署，我们在2020年末仍拥有152亿美元的现金和短期投资。” 公司同时发布了2021年展望。霍尼韦尔预期2021年销售额将在334亿美元至344亿美元区间，相当于内生式同比增长率处于1%至4%的水平；部门利润率增长30个基点至70个基点；每股收益为7.60美元至8.00美元，调整后增幅[3]为7%至13%；营运现金流在57亿美元至61亿美元之间，自由现金流[6]在51亿美元至55亿美元之间。公司的2021年业绩指引概要参见表1。杜瑞哲总结道：“我对霍尼韦尔在2020年的危机中的表现深感自豪。为助力全球复苏，我们迅速地着力于流动性、成本管理及执行，同时快速创新并对包括重要个人防护设备在内的一系列产品扩大生产。我们还继续专注于增长并投资于新市场和新技术。经过连续两个季度的业绩改善，我们以积极的 势头进入了2021年。我相信，我们为迎接经济复苏作好了准备，并将在短期和长期内继续取得让我们的股东、客户和员工满意的业绩。”第4季度 业绩霍尼韦尔第四季度报告销售额和内生式销售额分别下降6%和7%。有关第四季度的具体财务数据请参阅表2和表3。航空航天集团第四季度内生 式销售额下降19%，主要受到航班时间缩减和商用航空原始设备销量下降等因素持续影响，导致商用航空售后市场需求放缓，而防务及航天业务的两位数增长部分抵消了上述不利影响。部门利润率上涨150个基点至27.6%，主要得益于提升生产力的措施和卓越商业运营。智能建筑科技集团第 四季度内生式销售额下降4%，主要由于建筑智能系统项目进度影响以及安防产品及建筑控制系统需求减弱，而商业楼宇消防业务增长部分抵消了 上述不利影响。得益于北美及欧洲的大型项目，建筑智能系统事业部订单实现了两位数的同比增长。部门利润率增加110个基点至21.4%，主要得 益于卓越商业运营和提升生产力的措施。特性材料和技术集团第四季度内生式销售额下降12%，主要由于过程控制部自动化项目的持续延迟，智慧能源和热能解决方案的业务量下降，以及在石油和天然气行业疲软的影响下，UOP的气体加工项目、催化剂交付、技术许可和工程项目等业务量的下降；而高性能材料部受氟产品需求推动业务恢复增长，部分抵消了上述不利影响。受到销售量减少和组合因素的影响，该集团部门利润率降低380个基点至18.7%，而提升生产力的措施部分抵消了这一趋势。安全与生产力解决方案集团第四季度内生式销售额增长27%，主要得益于Intelligrated智能仓储业务和个人防护装备业务取得的两位数增长，以及强劲的生产力解决方案及服务业务。受个人防护装备业务以及生产力解决方案和 服务业务的订单强劲增长推动，订单连续第五个季度实现两位数同比增长。订单储存仍保持在历史高位。得益于提升生产力的措施和销量增加， 部门利润率增加260个基点至15.3%。
Japanese News:
コングロマリットのハネウェル＜HON＞が下落。取引開始前に１０－１２月期決算（第４四半期）を発表し、１株利益は予想範囲内だったものの、売上高が予想を下回った。ガイダンスも公表し、第１四半期、通期とも予想を下回る売上高見通しを示している。 第４四半期の売上高は航空宇宙部門が１５％増となったものの、ビル用防火・セキュリティ製品や倉庫ソリューションの部門が減収となった。 カプールＣＥＯは「オートメーション、航空、エネルギー転換の各分野の需要にけん引され、売上高と利益の成長を加速させる好位置にある」と述べた。 同社はまた、アダムチク会長が退任することから、カプールＣＥＯが６月に会長職も兼務する人事を発表した。 （１０－１２月・第４四半期） ・1株利益（調整後）：2.60ドル（予想：2.59ドル） ・売上高：94.4億ドル（予想：97.0億ドル） 航空宇宙：36.7億ドル（予想：37.1億ドル） 素材＆テクノロジー：30.3億ドル（予想：31.1億ドル） 建設：15.0億ドル（予想：15.4億ドル） 安全・生産性：12.3億ドル（予想：13.2億ドル） ・既存事業売上高：+2％（予想：+5％） ・ＦＣＦ：25.9億ドル（予想：23.1億ドル） （１－３月・第１四半期見通し） ・1株利益（調整後）：2.12～2.22ドル（予想：2.24ドル） ・売上高：89～92億ドル（予想：92.5億ドル） （通期見通し） ・1株利益（調整後）：9.80～10.10ドル（予想：9.96ドル） ・売上高：381～389億ドル（予想：390.1億ドル） ・既存事業売上高：4～6％（予想：+5.5％） ・FCF：56～60億ドル（予想：58.6億ドル）
Spanish News:
El grupo de ingeniería Honeywell se anotó un beneficio de 4.779 millones de dólares (3.938 millones de euros) en el conjunto de 2020, por lo que sus ganancias registraron una contracción del 23,3% en comparación con las contabilizadas durante 2019, según se desprende de las cuentas anuales publicadas este viernes por la empresa. La facturación de Honeywell entre enero y diciembre de 2020 se situó en 32.637 millones de dólares (26.675 millones de euros), lo que equivale a una caída del 11% frente a 2019. Por segmentos de negocio, la división aeroespacial se contrajo un 17,9%, hasta 11.544 millones de dólares (9.514 millones de euros), mientras que la rama de materiales y tecnologías de alto rendimiento se situó en 9.423 millones de dólares (7.766 millones de euros), un 13% menos. La rama de soluciones de seguridad y productividad experimentó un alza en sus ingresos del 6,1%, hasta 6.481 millones de dólares (5.341 millones de euros), al tiempo que la de tecnologías de construcción cayó un 9,2%, hasta 5.189 millones de dólares (4.276 millones de euros). El coste de los servicios y productos vendidos en el conjunto del año pasado fue de 22.169 millones de dólares (18.268 millones de euros), un 9% menos, mientras que los gastos de venta, generales y administrativos fueron de 4.772 millones de dólares (3.932 millones de euros), un 13,5% menos. Con respecto a los datos del cuarto trimestre, Honeywell observó un beneficio neto atribuido de 1.359 millones de dólares (1.120 millones de euros), un 13% menos, tras facturar un 6,3% menos que en el mismo periodo del año anterior, hasta 8.900 millones de dólares (7.334 millones de euros).
Greek News:
Το 2020, η Honeywell πέρασε σημαντικές προκλήσεις και ύφεση. Συγκεκριμένα, οι πωλήσεις της μειώθηκαν κατά 11,1%, πέφτοντας στα $32,6 δισεκατομμύρια σε σχέση με $32,6 δισεκατομμύρια το 2019. Παρόλα αυτά, η εταιρία επέδειξε ικανή χρηματοοικονομική διαχείριση, με στοχευμένες κινήσεις για την ενίσχυση της ρευστότητας και τη διατήρηση της επενδυτικής της δυναμικές, δίνοντας προτεραιότητα στη δημιουργία αξίας για τους μετόχους της. Κατά τη διάρκεια του έτους, η Honeywell αξιοποίησε ευέλικτα τα διαθέσιμα εργαλεία χρηματοδότησης, εξασφαλίζοντας $6 δισεκατομμύρια μέσω Συμφωνίας Δανείου με Καθυστερημένη Εκταμίευση. Το ποσό αυτό εξισορροπήθηκε εν μέρει μέσω δημόσιας έκδοσης Ανώτερων Ομολόγων $3 δισεκατομμυρίων τον Μάιο. Το υπόλοιπο του δανείου εκταμιεύτηκε και εξοφλήθηκε πλήρως εντός του έτους με νέα έκδοση ομολόγων, γεγονός που οδήγησε στη πλήρη εξάλειψη όλων των εκκρεμών δανειακών υποχρεώσεων της εταιρίας στο τέλος του 2020. Στο τέλος του έτους η εταιρία διέθετε $15,2 δισεκατομμύρια σε διαθέσιμα μετρητά, ταμειακά ισοδύναμα και βραχυπρόθεσμες επενδύσεις. Επιπλέον, η Honeywell διέθεσε συνολικά 7,5 δισεκατομμύρια δολάρια για κεφαλαιουχικές δαπάνες, μερίσματα, επαναγορές μετοχών και συγχωνεύσεις-εξαγορές, ποσό που υπερέβη τις λειτουργικές ταμειακές ροές της κατά περίπου 1,3 δισεκατομμύρια δολάρια. Παράλληλα, ενίσχυσε τα διαθέσιμά της και τις επενδύσεις βραχυπρόθεσμου ορίζοντα κατά 4,8 δισεκατομμύρια δολάρια, εξασφαλίζοντας σταθερότητα και επενδυτική ευελιξία εν μέσω αβεβαιότητας.
Question:
What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: Honeywell focused on aggressive cost control, productivity improvements, and operational efficiency to offset revenue declines and sustain profit margins throughout the year.
Financial Statement Evidence: Honeywell maintained a gross profit of $10.5B over $32.6B revenue in FY2020 vs. a gross profit of $12.4B over $36.7B revenue in FY2019. |
HON_20210212 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:------------------------------------------------------------------------------|:----------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | December 31, | | | | | | | | | | |
| 2020 | | 2019 | | | | | | | | | |
| | (Dollars in millions) | | | | | | | | | | |
| ASSETS | | | | | | | | | | | |
| Current assets: | | | | | | | | | | | |
| Cash and cash equivalents | $ | 14,275 | | | $ | 9,067 | | | | | |
| Short-term investments | 945 | | | 1,349 | | | | | | | |
| Accounts receivable—net | 6,827 | | | 7,493 | | | | | | | |
| Inventories | 4,489 | | | 4,421 | | | | | | | |
| Other current assets | 1,639 | | | 1,973 | | | | | | | |
| Total current assets | 28,175 | | | 24,303 | | | | | | | |
| Investments and long-term receivables | 685 | | | 588 | | | | | | | |
| Property, plant and equipment—net | 5,570 | | | 5,325 | | | | | | | |
| Goodwill | 16,058 | | | 15,563 | | | | | | | |
| Other intangible assets—net | 3,560 | | | 3,734 | | | | | | | |
| Insurance recoveries for asbestos related liabilities | 366 | | | 392 | | | | | | | |
| Deferred income taxes | 760 | | | 86 | | | | | | | |
| Other assets | 9,412 | | | 8,688 | | | | | | | |
| Total assets | $ | 64,586 | | | $ | 58,679 | | | | | |
| LIABILITIES | | | | | | | | | | | |
| Current liabilities: | | | | | | | | | | | |
| Accounts payable | $ | 5,750 | | | $ | 5,730 | | | | | |
| Commercial paper and other short-term borrowings | 3,597 | | | 3,516 | | | | | | | |
| Current maturities of long-term debt | 2,445 | | | 1,376 | | | | | | | |
| Accrued liabilities | 7,405 | | | 7,476 | | | | | | | |
| Total current liabilities | 19,197 | | | 18,098 | | | | | | | |
| Long-term debt | 16,342 | | | 11,110 | | | | | | | |
| Deferred income taxes | 2,113 | | | 1,670 | | | | | | | |
| Postretirement benefit obligations other than pensions | 242 | | | 326 | | | | | | | |
| Asbestos related liabilities | 1,920 | | | 1,996 | | | | | | | |
| Other liabilities | 6,975 | | | 6,766 | | | | | | | |
| Redeemable noncontrolling interest | 7 | | | 7 | | | | | | | |
| SHAREOWNERS’ EQUITY | | | | | | | | | | | |
| Capital—common stock issued | 958 | | | 958 | | | | | | | |
| —additional paid-in capital | 7,292 | | | 6,876 | | | | | | | |
| Common stock held in treasury, at cost | (27,229) | | | (23,836) | | | | | | | |
| Accumulated other comprehensive income (loss) | (3,377) | | | (3,197) | | | | | | | |
| Retained earnings | 39,905 | | | 37,693 | | | | | | | |
| Total Honeywell shareowners’ equity | 17,549 | | | 18,494 | | | | | | | |
| Noncontrolling interest | 241 | | | 212 | | | | | | | |
| Total shareowners’ equity | 17,790 | | | 18,706 | | | | | | | |
| Total liabilities, redeemable noncontrolling interest and shareowners’ equity | $ | 64,586 | | | $ | 58,679 | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 |
|:------------------------------------------------------------------------------------------------------------|:-------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | |
| | Years Ended December 31, | | | | | | | | | | | | | | | | |
| 2020 | | 2019 | | 2018 | | | | | | | | | | | | | |
| | (Dollars in millions) | | | | | | | | | | | | | | | | |
| Cash flows from operating activities: | | | | | | | | | | | | | | | | | |
| Net income | $ | 4,865 | | | $ | 6,230 | | | $ | 6,828 | | | | | | | |
| Less: Net income attributable to the noncontrolling interest | 86 | | | 87 | | | 63 | | | | | | | | | | |
| Net income attributable to Honeywell | 4,779 | | | 6,143 | | | 6,765 | | | | | | | | | | |
| Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities: | | | | | | | | | | | | | | | | | |
| Depreciation | 644 | | | 673 | | | 721 | | | | | | | | | | |
| Amortization | 358 | | | 415 | | | 395 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | |
| Repositioning and other charges | 575 | | | 546 | | | 1,091 | | | | | | | | | | |
| Net payments for repositioning and other charges | (833) | | | (376) | | | (652) | | | | | | | | | | |
| Pension and other postretirement income | (798) | | | (516) | | | (987) | | | | | | | | | | |
| Pension and other postretirement benefit payments | (47) | | | (78) | | | (80) | | | | | | | | | | |
| Stock compensation expense | 168 | | | 153 | | | 175 | | | | | | | | | | |
| Deferred income taxes | (175) | | | 179 | | | (586) | | | | | | | | | | |
| Reimbursement receivables charge | 509 | | | — | | | — | | | | | | | | | | |
| Other | (335) | | | (286) | | | (694) | | | | | | | | | | |
| Changes in assets and liabilities, net of the effects of acquisitions and divestitures: | | | | | | | | | | | | | | | | | |
| Accounts receivable | 669 | | | 11 | | | (236) | | | | | | | | | | |
| Inventories | (67) | | | (100) | | | (503) | | | | | | | | | | |
| Other current assets | 191 | | | (430) | | | 218 | | | | | | | | | | |
| Accounts payable | 15 | | | 118 | | | 733 | | | | | | | | | | |
| Accrued liabilities | 555 | | | 445 | | | 74 | | | | | | | | | | |
| Net cash provided by (used for) operating activities | 6,208 | | | 6,897 | | | 6,434 | | | | | | | | | | |
| Cash flows from investing activities: | | | | | | | | | | | | | | | | | |
| Expenditures for property, plant and equipment | (906) | | | (839) | | | (828) | | | | | | | | | | |
| Proceeds from disposals of property, plant and equipment | 57 | | | 43 | | | 15 | | | | | | | | | | |
| Increase in investments | (3,236) | | | (4,253) | | | (4,059) | | | | | | | | | | |
| Decrease in investments | 3,508 | | | 4,464 | | | 6,032 | | | | | | | | | | |
| Receipts (payments) from settlements of derivative contracts | (149) | | | 102 | | | 402 | | | | | | | | | | |
| Cash paid for acquisitions, net of cash acquired | (261) | | | (50) | | | (535) | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | |
| Net cash provided by (used for) investing activities | (987) | | | (533) | | | 1,027 | | | | | | | | | | |
| Cash flows from financing activities: | | | | | | | | | | | | | | | | | |
| Proceeds from issuance of commercial paper and other short-term borrowings | 10,474 | | | 14,199 | | | 23,891 | | | | | | | | | | |
| Payments of commercial paper and other short-term borrowings | (10,400) | | | (14,199) | | | (24,095) | | | | | | | | | | |
| Proceeds from issuance of common stock | 393 | | | 498 | | | 267 | | | | | | | | | | |
| Proceeds from issuance of long-term debt | 10,125 | | | 2,726 | | | 27 | | | | | | | | | | |
| Payments of long-term debt | (4,308) | | | (2,903) | | | (1,330) | | | | | | | | | | |
| Repurchases of common stock | (3,714) | | | (4,400) | | | (4,000) | | | | | | | | | | |
| Cash dividends paid | (2,592) | | | (2,442) | | | (2,272) | | | | | | | | | | |
| Pre-separation funding | — | | | — | | | 2,801 | | | | | | | | | | |
| Spin-off cash | — | | | — | | | (179) | | | | | | | | | | |
| Other | (59) | | | (79) | | | (142) | | | | | | | | | | |
| Net cash provided by (used for) financing activities | (81) | | | (6,600) | | | (5,032) | | | | | | | | | | |
| Effect of foreign exchange rate changes on cash and cash equivalents | 68 | | | 16 | | | (201) | | | | | | | | | | |
| Net increase (decrease) in cash and cash equivalents | 5,208 | | | (220) | | | 2,228 | | | | | | | | | | |
| Cash and cash equivalents at beginning of period | 9,067 | | | 9,287 | | | 7,059 | | | | | | | | | | |
| Cash and cash equivalents at end of period | $ | 14,275 | | | $ | 9,067 | | | $ | 9,287 | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 |
|:-------------------------------------------------------------|:-----------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | |
| | Years Ended December 31, | | | | | | | | | | | | | | | | |
| 2020 | | 2019 | | 2018 | | | | | | | | | | | | | |
| | (Dollars in millions,except per share amounts) | | | | | | | | | | | | | | | | |
| Product sales | $ | 24,737 | | | $ | 27,629 | | | $ | 32,848 | | | | | | | |
| Service sales | 7,900 | | | 9,080 | | | 8,954 | | | | | | | | | | |
| Net sales | 32,637 | | | 36,709 | | | 41,802 | | | | | | | | | | |
| Costs, expenses and other | | | | | | | | | | | | | | | | | |
| Cost of products sold | 17,638 | | | 19,269 | | | 23,634 | | | | | | | | | | |
| Cost of services sold | 4,531 | | | 5,070 | | | 5,412 | | | | | | | | | | |
| | 22,169 | | | 24,339 | | | 29,046 | | | | | | | | | | |
| Selling, general and administrative expenses | 4,772 | | | 5,519 | | | 6,051 | | | | | | | | | | |
| Other (income) expense | (675) | | | (1,065) | | | (1,149) | | | | | | | | | | |
| Interest and other financial charges | 359 | | | 357 | | | 367 | | | | | | | | | | |
| | 26,625 | | | 29,150 | | | 34,315 | | | | | | | | | | |
| Income before taxes | 6,012 | | | 7,559 | | | 7,487 | | | | | | | | | | |
| Tax expense | 1,147 | | | 1,329 | | | 659 | | | | | | | | | | |
| Net income | 4,865 | | | 6,230 | | | 6,828 | | | | | | | | | | |
| Less: Net income attributable to the noncontrolling interest | 86 | | | 87 | | | 63 | | | | | | | | | | |
| Net income attributable to Honeywell | $ | 4,779 | | | $ | 6,143 | | | $ | 6,765 | | | | | | | |
| Earnings per share of common stock—basic | $ | 6.79 | | | $ | 8.52 | | | $ | 9.10 | | | | | | | |
| Earnings per share of common stock—assuming dilution | $ | 6.72 | | | $ | 8.41 | | | $ | 8.98 | | | | | | | |
---
English News:
"Global Smart Thermostats Market Trends, Forecast and Competitive Analysis Report 2021 - ResearchAndMarkets.com - DUBLIN--(BUSINESS WIRE)--The \"Smart Thermostats Market Report: Trends, Forecast and Competitive Analysis\" report has been added to ResearchAndMarkets.com's offering. The global smart thermostats market is expected to grow with a CAGR of 31% from 2019 to 2024. The future of the smart thermostats market looks promising with opportunities in the residential, office building, educational buildings, industrial building, retail, hospitality, and healthcare industries. The major drivers for this market are stringent government regulation towards energy saving, increasing demand for energy-efficient devices, and increasing adoption of smart home technology. The study includes the smart thermostats market size and forecast for the global smart thermostats market by technology, component, end use industry, and region. Some of the smart thermostats companies profiled in this report include Nest Labs, Inc., Honeywell International Inc., Ecobee, Inc. , Emerson Electric Co., Schneider Electric SE, Tado GmbH, Control4 Corporation, Ingersoll Rand PLC, Carrier Corporation, Nortek, Inc Some of the features of smart thermostats market report: Trends, Forecast, and Opportunity Analysis include: This report answers the following 11 key questions: Key Topics Covered: 1. Executive Summary 2. Market Trends and Forecast Analysis from 2013 to 2024 2.1: Introduction, Background, and Classification 2.2: Supply Chain 2.3: Industry Drivers and Challenges 3. Market Trends and Forecast Analysis from 2013 to 2024 3.1: Macroeconomic Trends and Forecast 3.2: Global Smart Thermostats Market: Trends and Forecast 3.3: Global Smart Thermostats Market by Technology 3.3.1: Wired Networking 3.3.2: Wireless Networking: Wi-Fi, ZigBee, Z-Wave and Bluetooth 3.4: Global Smart Thermostats Market by Component 3.4.1: Display Sensor 3.4.2: Temperature Sensor 3.4.3: Humidity Sensor 3.4.4: Motion Sensor 3.5: Global Smart Thermostats Market by End Use Industry 3.5.1: Residential 3.5.2: Educational 3.5.3: Retail 3.5.4: Hospitality and Healthcare 3.5.5: Office and Industrial Building 4. Market Trends and Forecast Analysis by Region 4.1: Global Smart Thermostats Market by Region 4.2: North American Smart Thermostats Market 4.2.1: Market by End Use Industry: Residential, Educational, Retail, Hospitality and Healthcare, and Office & Industrial building 4.2.2: Market by Technology: Wired and Wireless Networking 4.2.3: United States Smart Thermostats Market 4.2.4: Canadian Smart Thermostats Market 4.2.5: Mexican Smart Thermostats Market 4.3: European Smart Thermostats Market 4.4: APAC Smart Thermostats Market 4.5: ROW Smart Thermostats Market 5. Competitor Analysis 5.1: Product Portfolio Analysis 5.2: Market Share Analysis 5.3: Operational Integration 5.4: Regional Reach 5.5: Porter's Five Forces Analysis 6. Growth Opportunities and Strategic Analysis 6.1: Growth Opportunity Analysis 6.1.1: Growth Opportunities for Global Smart Thermostats Market by Technology 6.1.2: Growth Opportunities for Global Smart Thermostats Market by Component 6.1.3: Growth Opportunities for Global Smart Thermostats Market by End Use Industry 6.1.4: Growth Opportunities for Global Smart Thermostats Market by Region 6.2: Emerging Trends in Global Smart Thermostats Market 6.3: Strategic Analysis 6.3.1: New Product Development 6.3.2: Capacity Expansion of Global Smart Thermostats Market 6.3.3: Mergers, Acquisitions and Joint Ventures in the Global Market 6.3.4: Certification and Licensing 7. Company Profiles of Leading Players 7.1: Nest Labs 7.2: Honeywell International 7.3: Ecobee 7.4: Emerson Electric 7.5: Schneider Electric 7.6: Tado 7.7: Control4 Corporation 7.8: Ingersoll Rand PLC 7.9: Carrier Corporation 7.10: Nortek For more information about this report visit https://www.researchandmarkets.com/r/6tig4a",
Chinese News:
霍尼韦尔（纽交所代码：HON）近日发布了超出投资者预期的2020年第四季度和全年财务业绩，并同时公布2021年展望。公司第四季度报告销售额及内生式销售额分别同比下降6%和7%，全年报告及内生式销售额下降11%。就全年而言，营运利润率下降120个基点，部门利润 率下降70个基点，每股收益为6.72美元，调整后每股收益[4]为7.10美元，高于业绩指引预测范围上限。“我们在销售额增长、利润率提高以及调 整后每股收益方面再次取得了季度性持续改善，从而收官充满挑战的2020年，”霍尼韦尔董事长兼首席执行官杜瑞哲表示：“我们专注于提供差异 化的解决方案，从而在防务及航天业务、仓储自动化、个人防护装备以及经常性互联软件业务方面连续第二个季度实现两位数的内生式销售额增 长。本季度，我们继续审慎地降低成本，使我们全年的总固定成本节省额达到15亿美元。我们的第四季度调整后每股收益为2.07美元，以调整后 基准[1]计与上年持平，高于业绩指引预测范围上限。另外，我们继续专注于现金创收，于本季度实现了170%的调整后自由现金流转换率[2]。全 年营运现金流为62亿美元，转换率为130%，自由现金流为53亿美元，调整后自由现金流转换率为105%[5]。 杜瑞哲说：“霍尼韦尔强劲的资产负债表使我们具备优势，以应对2020年的挑战，同时进行投资以实现未来增长。我们投资于高回报的资本支出，回购了37亿美元的霍尼韦尔股份，完 成了三宗收购事项，在霍尼韦尔创投（Honeywell Ventures）内部投资于六个新项目，并宣布连续第11年实现股息增长。尽管有如此大规模的现 金部署，我们在2020年末仍拥有152亿美元的现金和短期投资。” 公司同时发布了2021年展望。霍尼韦尔预期2021年销售额将在334亿美元至344亿美元区间，相当于内生式同比增长率处于1%至4%的水平；部门利润率增长30个基点至70个基点；每股收益为7.60美元至8.00美元，调整后增幅[3]为7%至13%；营运现金流在57亿美元至61亿美元之间，自由现金流[6]在51亿美元至55亿美元之间。公司的2021年业绩指引概要参见表1。杜瑞哲总结道：“我对霍尼韦尔在2020年的危机中的表现深感自豪。为助力全球复苏，我们迅速地着力于流动性、成本管理及执行，同时快速创新并对包括重要个人防护设备在内的一系列产品扩大生产。我们还继续专注于增长并投资于新市场和新技术。经过连续两个季度的业绩改善，我们以积极的 势头进入了2021年。我相信，我们为迎接经济复苏作好了准备，并将在短期和长期内继续取得让我们的股东、客户和员工满意的业绩。”第4季度 业绩霍尼韦尔第四季度报告销售额和内生式销售额分别下降6%和7%。有关第四季度的具体财务数据请参阅表2和表3。航空航天集团第四季度内生 式销售额下降19%，主要受到航班时间缩减和商用航空原始设备销量下降等因素持续影响，导致商用航空售后市场需求放缓，而防务及航天业务的两位数增长部分抵消了上述不利影响。部门利润率上涨150个基点至27.6%，主要得益于提升生产力的措施和卓越商业运营。智能建筑科技集团第 四季度内生式销售额下降4%，主要由于建筑智能系统项目进度影响以及安防产品及建筑控制系统需求减弱，而商业楼宇消防业务增长部分抵消了 上述不利影响。得益于北美及欧洲的大型项目，建筑智能系统事业部订单实现了两位数的同比增长。部门利润率增加110个基点至21.4%，主要得 益于卓越商业运营和提升生产力的措施。特性材料和技术集团第四季度内生式销售额下降12%，主要由于过程控制部自动化项目的持续延迟，智慧能源和热能解决方案的业务量下降，以及在石油和天然气行业疲软的影响下，UOP的气体加工项目、催化剂交付、技术许可和工程项目等业务量的下降；而高性能材料部受氟产品需求推动业务恢复增长，部分抵消了上述不利影响。受到销售量减少和组合因素的影响，该集团部门利润率降低380个基点至18.7%，而提升生产力的措施部分抵消了这一趋势。安全与生产力解决方案集团第四季度内生式销售额增长27%，主要得益于Intelligrated智能仓储业务和个人防护装备业务取得的两位数增长，以及强劲的生产力解决方案及服务业务。受个人防护装备业务以及生产力解决方案和 服务业务的订单强劲增长推动，订单连续第五个季度实现两位数同比增长。订单储存仍保持在历史高位。得益于提升生产力的措施和销量增加， 部门利润率增加260个基点至15.3%。
Japanese News:
コングロマリットのハネウェル＜HON＞が下落。取引開始前に１０－１２月期決算（第４四半期）を発表し、１株利益は予想範囲内だったものの、売上高が予想を下回った。ガイダンスも公表し、第１四半期、通期とも予想を下回る売上高見通しを示している。 第４四半期の売上高は航空宇宙部門が１５％増となったものの、ビル用防火・セキュリティ製品や倉庫ソリューションの部門が減収となった。 カプールＣＥＯは「オートメーション、航空、エネルギー転換の各分野の需要にけん引され、売上高と利益の成長を加速させる好位置にある」と述べた。 同社はまた、アダムチク会長が退任することから、カプールＣＥＯが６月に会長職も兼務する人事を発表した。 （１０－１２月・第４四半期） ・1株利益（調整後）：2.60ドル（予想：2.59ドル） ・売上高：94.4億ドル（予想：97.0億ドル） 航空宇宙：36.7億ドル（予想：37.1億ドル） 素材＆テクノロジー：30.3億ドル（予想：31.1億ドル） 建設：15.0億ドル（予想：15.4億ドル） 安全・生産性：12.3億ドル（予想：13.2億ドル） ・既存事業売上高：+2％（予想：+5％） ・ＦＣＦ：25.9億ドル（予想：23.1億ドル） （１－３月・第１四半期見通し） ・1株利益（調整後）：2.12～2.22ドル（予想：2.24ドル） ・売上高：89～92億ドル（予想：92.5億ドル） （通期見通し） ・1株利益（調整後）：9.80～10.10ドル（予想：9.96ドル） ・売上高：381～389億ドル（予想：390.1億ドル） ・既存事業売上高：4～6％（予想：+5.5％） ・FCF：56～60億ドル（予想：58.6億ドル）
Spanish News:
El grupo de ingeniería Honeywell se anotó un beneficio de 4.779 millones de dólares (3.938 millones de euros) en el conjunto de 2020, por lo que sus ganancias registraron una contracción del 23,3% en comparación con las contabilizadas durante 2019, según se desprende de las cuentas anuales publicadas este viernes por la empresa. La facturación de Honeywell entre enero y diciembre de 2020 se situó en 32.637 millones de dólares (26.675 millones de euros), lo que equivale a una caída del 11% frente a 2019. Por segmentos de negocio, la división aeroespacial se contrajo un 17,9%, hasta 11.544 millones de dólares (9.514 millones de euros), mientras que la rama de materiales y tecnologías de alto rendimiento se situó en 9.423 millones de dólares (7.766 millones de euros), un 13% menos. La rama de soluciones de seguridad y productividad experimentó un alza en sus ingresos del 6,1%, hasta 6.481 millones de dólares (5.341 millones de euros), al tiempo que la de tecnologías de construcción cayó un 9,2%, hasta 5.189 millones de dólares (4.276 millones de euros). El coste de los servicios y productos vendidos en el conjunto del año pasado fue de 22.169 millones de dólares (18.268 millones de euros), un 9% menos, mientras que los gastos de venta, generales y administrativos fueron de 4.772 millones de dólares (3.932 millones de euros), un 13,5% menos. Con respecto a los datos del cuarto trimestre, Honeywell observó un beneficio neto atribuido de 1.359 millones de dólares (1.120 millones de euros), un 13% menos, tras facturar un 6,3% menos que en el mismo periodo del año anterior, hasta 8.900 millones de dólares (7.334 millones de euros).
Greek News:
Το 2020, η Honeywell πέρασε σημαντικές προκλήσεις και ύφεση. Συγκεκριμένα, οι πωλήσεις της μειώθηκαν κατά 11,1%, πέφτοντας στα $32,6 δισεκατομμύρια σε σχέση με $32,6 δισεκατομμύρια το 2019. Παρόλα αυτά, η εταιρία επέδειξε ικανή χρηματοοικονομική διαχείριση, με στοχευμένες κινήσεις για την ενίσχυση της ρευστότητας και τη διατήρηση της επενδυτικής της δυναμικές, δίνοντας προτεραιότητα στη δημιουργία αξίας για τους μετόχους της. Κατά τη διάρκεια του έτους, η Honeywell αξιοποίησε ευέλικτα τα διαθέσιμα εργαλεία χρηματοδότησης, εξασφαλίζοντας $6 δισεκατομμύρια μέσω Συμφωνίας Δανείου με Καθυστερημένη Εκταμίευση. Το ποσό αυτό εξισορροπήθηκε εν μέρει μέσω δημόσιας έκδοσης Ανώτερων Ομολόγων $3 δισεκατομμυρίων τον Μάιο. Το υπόλοιπο του δανείου εκταμιεύτηκε και εξοφλήθηκε πλήρως εντός του έτους με νέα έκδοση ομολόγων, γεγονός που οδήγησε στη πλήρη εξάλειψη όλων των εκκρεμών δανειακών υποχρεώσεων της εταιρίας στο τέλος του 2020. Στο τέλος του έτους η εταιρία διέθετε $15,2 δισεκατομμύρια σε διαθέσιμα μετρητά, ταμειακά ισοδύναμα και βραχυπρόθεσμες επενδύσεις. Επιπλέον, η Honeywell διέθεσε συνολικά 7,5 δισεκατομμύρια δολάρια για κεφαλαιουχικές δαπάνες, μερίσματα, επαναγορές μετοχών και συγχωνεύσεις-εξαγορές, ποσό που υπερέβη τις λειτουργικές ταμειακές ροές της κατά περίπου 1,3 δισεκατομμύρια δολάρια. Παράλληλα, ενίσχυσε τα διαθέσιμά της και τις επενδύσεις βραχυπρόθεσμου ορίζοντα κατά 4,8 δισεκατομμύρια δολάρια, εξασφαλίζοντας σταθερότητα και επενδυτική ευελιξία εν μέσω αβεβαιότητας.
Question:
What are the company's capital expenditures and their strategic significance from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | What are the company's capital expenditures and their strategic significance from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: Honeywell’s capital expenditures supported long-term growth areas such as automation and connected technologies, ensuring innovation and resilience amid economic uncertainty.
Financial Statement Evidence: Honeywell’s expenditures for property, plant, and equipment increased from $839M in FY2019 to $906M in FY2020. |
HON_20210423 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:------------------------------------------------------------------------------|:----------------------|:-----------|:------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | March 31, 2021 | | December 31, 2020 | | | | | | | | |
| | (Dollars in millions) | | | | | | | | | | |
| ASSETS | | | | | | | | | | | |
| Current assets: | | | | | | | | | | | |
| Cash and cash equivalents | $ | 11,718 | | | $ | 14,275 | | | | | |
| Short-term investments | 942 | | | 945 | | | | | | | |
| Accounts receivable - net | 6,675 | | | 6,827 | | | | | | | |
| Inventories | 4,607 | | | 4,489 | | | | | | | |
| Other current assets | 1,645 | | | 1,639 | | | | | | | |
| Total current assets | 25,587 | | | 28,175 | | | | | | | |
| Investments and long-term receivables | 746 | | | 685 | | | | | | | |
| Property, plant and equipment - net | 5,547 | | | 5,570 | | | | | | | |
| Goodwill | 16,981 | | | 16,058 | | | | | | | |
| Other intangible assets - net | 3,799 | | | 3,560 | | | | | | | |
| Insurance recoveries for asbestos related liabilities | 347 | | | 366 | | | | | | | |
| Deferred income taxes | 762 | | | 760 | | | | | | | |
| Other assets | 9,792 | | | 9,412 | | | | | | | |
| Total assets | $ | 63,561 | | | $ | 64,586 | | | | | |
| LIABILITIES | | | | | | | | | | | |
| Current liabilities: | | | | | | | | | | | |
| Accounts payable | $ | 5,792 | | | $ | 5,750 | | | | | |
| Commercial paper and other short-term borrowings | 3,568 | | | 3,597 | | | | | | | |
| Current maturities of long-term debt | 1,635 | | | 2,445 | | | | | | | |
| Accrued liabilities | 6,955 | | | 7,405 | | | | | | | |
| Total current liabilities | 17,950 | | | 19,197 | | | | | | | |
| Long-term debt | 16,124 | | | 16,342 | | | | | | | |
| Deferred income taxes | 2,309 | | | 2,113 | | | | | | | |
| Postretirement benefit obligations other than pensions | 234 | | | 242 | | | | | | | |
| Asbestos-related liabilities | 1,873 | | | 1,920 | | | | | | | |
| Other liabilities | 6,812 | | | 6,975 | | | | | | | |
| Redeemable noncontrolling interest | 7 | | | 7 | | | | | | | |
| SHAREOWNERS’ EQUITY | | | | | | | | | | | |
| Capital - common stock issued | 958 | | | 958 | | | | | | | |
| - additional paid-in capital | 7,505 | | | 7,292 | | | | | | | |
| Common stock held in treasury, at cost | (27,975) | | | (27,229) | | | | | | | |
| Accumulated other comprehensive loss | (3,184) | | | (3,377) | | | | | | | |
| Retained earnings | 40,682 | | | 39,905 | | | | | | | |
| Total Honeywell shareowners’ equity | 17,986 | | | 17,549 | | | | | | | |
| Noncontrolling interest | 266 | | | 241 | | | | | | | |
| Total shareowners’ equity | 18,252 | | | 17,790 | | | | | | | |
| Total liabilities, redeemable noncontrolling interest and shareowners’ equity | $ | 63,561 | | | $ | 64,586 | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:------------------------------------------------------------------------------------------------------------|:-----------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | Three Months Ended March 31, | | | | | | | | | | |
| | 2021 | | 2020 | | | | | | | | |
| | (Dollars in millions) | | | | | | | | | | |
| Cash flows from operating activities: | | | | | | | | | | | |
| Net income | $ | 1,448 | | | $ | 1,606 | | | | | |
| Less: Net income attributable to the noncontrolling interest | 21 | | | 25 | | | | | | | |
| Net income attributable to Honeywell | 1,427 | | | 1,581 | | | | | | | |
| Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities: | | | | | | | | | | | |
| Depreciation | 171 | | | 153 | | | | | | | |
| Amortization | 170 | | | 90 | | | | | | | |
| Gain on sale of non-strategic businesses and assets | (90) | | | — | | | | | | | |
| Repositioning and other charges | 141 | | | 62 | | | | | | | |
| Net payments for repositioning and other charges | (195) | | | (111) | | | | | | | |
| Pension and other postretirement income | (293) | | | (212) | | | | | | | |
| Pension and other postretirement benefit payments | (14) | | | (14) | | | | | | | |
| Stock compensation expense | 77 | | | 44 | | | | | | | |
| Deferred income taxes | 63 | | | (58) | | | | | | | |
| | | | | | | | | | | | |
| Other | (96) | | | (179) | | | | | | | |
| Changes in assets and liabilities, net of the effects of acquisitions and divestitures: | | | | | | | | | | | |
| Accounts receivable | 143 | | | 41 | | | | | | | |
| Inventories | (158) | | | (163) | | | | | | | |
| Other current assets | (66) | | | 166 | | | | | | | |
| Accounts payable | 57 | | | (54) | | | | | | | |
| Accrued liabilities | (359) | | | (407) | | | | | | | |
| Net cash provided by (used for) operating activities | 978 | | | 939 | | | | | | | |
| Cash flows from investing activities: | | | | | | | | | | | |
| Expenditures for property, plant and equipment | (221) | | | (139) | | | | | | | |
| Proceeds from disposals of property, plant and equipment | 14 | | | 7 | | | | | | | |
| Increase in investments | (736) | | | (648) | | | | | | | |
| Decrease in investments | 612 | | | 843 | | | | | | | |
| Receipts (payments) from settlements of derivative contracts | 140 | | | 287 | | | | | | | |
| Cash paid for acquisitions, net of cash acquired | (1,303) | | | — | | | | | | | |
| Proceeds from sales of businesses, net of fees paid | 190 | | | — | | | | | | | |
| Net cash provided by (used for) investing activities | (1,304) | | | 350 | | | | | | | |
| Cash flows from financing activities: | | | | | | | | | | | |
| Proceeds from issuance of commercial paper and other short-term borrowings | 1,268 | | | 3,455 | | | | | | | |
| Payments of commercial paper and other short-term borrowings | (1,266) | | | (3,373) | | | | | | | |
| Proceeds from issuance of common stock | 67 | | | 66 | | | | | | | |
| Proceeds from issuance of long-term debt | 23 | | | 1,127 | | | | | | | |
| Payments of long-term debt | (817) | | | (1,125) | | | | | | | |
| Repurchases of common stock | (822) | | | (1,923) | | | | | | | |
| Cash dividends paid | (640) | | | (635) | | | | | | | |
| Other | (30) | | | (38) | | | | | | | |
| Net cash provided by (used for) financing activities | (2,217) | | | (2,446) | | | | | | | |
| Effect of foreign exchange rate changes on cash and cash equivalents | (14) | | | (189) | | | | | | | |
| Net increase (decrease) in cash and cash equivalents | (2,557) | | | (1,346) | | | | | | | |
| Cash and cash equivalents at beginning of period | 14,275 | | | 9,067 | | | | | | | |
| Cash and cash equivalents at end of period | $ | 11,718 | | | $ | 7,721 | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 |
|:-------------------------------------------------------------|:------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | |
| | Three Months Ended March 31, | | | | | | | | | | | | | | |
| | 2021 | | 2020 | | | | | | | | | | | | |
| | (Dollars in millions, except per share amounts) | | | | | | | | | | | | | | |
| Product sales | $ | 6,409 | | | $ | 6,305 | | | | | | | | | |
| Service sales | 2,045 | | | 2,158 | | | | | | | | | | | |
| Net sales | 8,454 | | | 8,463 | | | | | | | | | | | |
| Costs, expenses and other | | | | | | | | | | | | | | | |
| Cost of products sold | 4,551 | | | 4,374 | | | | | | | | | | | |
| Cost of services sold | 1,158 | | | 1,160 | | | | | | | | | | | |
| | 5,709 | | | 5,534 | | | | | | | | | | | |
| Selling, general and administrative expenses | 1,236 | | | 1,238 | | | | | | | | | | | |
| Other (income) expense | (442) | | | (317) | | | | | | | | | | | |
| Interest and other financial charges | 90 | | | 73 | | | | | | | | | | | |
| | 6,593 | | | 6,528 | | | | | | | | | | | |
| Income before taxes | 1,861 | | | 1,935 | | | | | | | | | | | |
| Tax expense (benefit) | 413 | | | 329 | | | | | | | | | | | |
| Net income | 1,448 | | | 1,606 | | | | | | | | | | | |
| Less: Net income attributable to the noncontrolling interest | 21 | | | 25 | | | | | | | | | | | |
| Net income attributable to Honeywell | $ | 1,427 | | | $ | 1,581 | | | | | | | | | |
| Earnings per share of common stock - basic | $ | 2.05 | | | $ | 2.23 | | | | | | | | | |
| Earnings per share of common stock - assuming dilution | $ | 2.03 | | | $ | 2.21 | | | | | | | | | |
---
English News:
"Honeywell Overdelivers On All Guided Metrics In The First Quarter; Raises Full-Year Sales And Adjusted EPS Guidance - CHARLOTTE, N.C., April 23, 2021 /PRNewswire/ --Honeywell (NYSE: HON) today announced results for the first quarter that exceeded the company's guidance. The company also raised its full-year sales guidance and raised the midpoint of its adjusted earnings per share and cash flow guidance. \"Honeywell delivered a strong start to 2021 with first-quarter results that exceeded our expectations. We are seeing promising signs of a rapid recovery in some of our markets, and we are poised to capitalize on new business opportunities as they arise,\" said Darius Adamczyk, chairman and chief executive officer of Honeywell. \"We reported first-quarter sales of $8.5 billion, flat year over year, or a decline of 2% on an organic basis. Our first-quarter sales exceeded the high end of our guidance range by approximately $250 million driven by continued double-digit growth in our Warehouse and Workflow Solutions and personal protective equipment businesses as well as demand for our building products and services, advanced materials, and connected software. Operating margin contracted 220 basis points for the quarter to 17.8%, with segment margin contracting 80 basis points to 21.0%, which exceeded the high end of our guidance by 10 basis points. We delivered segment margin expansion in Aerospace, Honeywell Building Technologies, and Safety and Productivity Solutions for the second consecutive quarter, supported by our streamlined cost base following the cost actions we took in 2020. We delivered earnings per share of $2.03, with adjusted earnings per share1 of $1.92, down 13% year over year but 9 cents above the high end of the previously provided guidance range. We continued to take advantage of our strong balance sheet, and deployed capital to high-return opportunities in the quarter, including closing our acquisition of quality management software leader Sparta Systems and announcing the acquisition of a majority stake in Fiplex, a leading provider of in-building communications systems. In addition, we repurchased $0.8 billion in Honeywell shares and made five strategic investments through Honeywell Ventures.\" Adamczyk continued, \"As we look to the rest of 2021 and beyond, we are well positioned for the recovery to come. Our new offerings in growing markets like life sciences are gaining traction and the industries that were hardest hit by the pandemic are expected to improve throughout the year. We have a robust portfolio of technologies that help our customers meet their environmental and social goals. In fact, about half of Honeywell's new product introduction research and development investment is directed toward products that improve environmental and social outcomes for customers. Earlier this month, we pledged to become carbon neutral in our operations and facilities by 2035, building on our commitment to reduce our carbon footprint in 2024 by 10% from 2018 levels. Our confidence in this commitment is underpinned by our history of setting aggressive environmental targets and beating them, which has enabled us to reduce our greenhouse gas intensity by more than 90% since 2004. We look forward to continuing to deliver outstanding results for our shareowners, customers, and employees.\" As a result of the company's first-quarter performance and management's outlook for the remainder of the year, Honeywell raised its full-year sales guidance and raised the midpoint of its adjusted earnings per share and cash flow guidance. Full-year organic sales growth is now expected to be in the range of 3% to 5%. Adjusted earnings per share2 is expected to be $7.75 to $8.00, up 15 cents from the low end of the prior guidance range. Operating cash flow is now expected to be in the range of $5.8 billion to $6.1 billion and free cash flow is now expected to be in the range of $5.2 billion to $5.5 billion. A summary of the company's full-year guidance changes can be found in Table 1. First-Quarter PerformanceHoneywellsales for the first quarter were flat on a reported basis and down 2% on an organic basis. The first-quarter financial results can be found in Tables 2 and 3. Aerospacesales for the first quarter were down 22% on an organic basis driven by lower commercial aftermarket demand due to the ongoing impact of reduced flight hours, softness in commercial original equipment, and lower volumes in international defense, partially offset by growth in U.S. defense and space. Segment margin expanded 110 basis points to 29.0%. Margin performance was due to a number of factors, including commercial excellence, cost management, and a one-time benefit. Honeywell Building Technologiessales for the first quarter were up 2% on an organic basis driven by demand for Products and growth in Building Solutions services. Orders were up mid-single digits year over year, driven by strong bookings for services and security products. Segment margin expanded 200 basis points to 22.5% driven by commercial excellence and productivity, net of inflation. Performance Materials and Technologies sales for the first quarter were down 6% on an organic basis driven by continued delays in Process Solutions automation projects, lower volumes in smart energy, and lower demand for licensing and catalysts in UOP, partially offset by continued growth in Advanced Materials driven by strong demand for fluorine products and specialty materials. Segment margin contracted 290 basis points to 18.5% driven by the impact of sales mix, partially offset by commercial excellence. Safety and Productivity Solutionssales for the first quarter were up 47% on an organic basis driven by double-digit Warehouse and Workflow Solutions, personal protective equipment, and Productivity Solutions and Services growth. Orders were up double digits year over year for the sixth straight quarter, led by continued demand for personal protective equipment and Productivity Solutions and Services, and backlog remained above $4 billion for the third quarter in a row. Segment margin expanded 180 basis points to 14.3% driven by the impact of higher sales volumes. Conference Call DetailsHoneywell will discuss its first-quarter results and updated full-year guidance during an investor conference call starting at 8:30 a.m. Eastern Daylight Time today. To participate on the conference call, please dial (800) 263-0877 (domestic) or (646) 828-8143 (international) approximately ten minutes before the 8:30 a.m. EDT start.Please mention to the operator that you are dialing in for Honeywell's first-quarter 2021 earnings call or provide the conference code HON1Q21. The live webcast of the investor call as well as related presentation materials will be available through the Investor Relations section of the company's website (www.honeywell.com/investor). Investors can hear a replay of the conference call from 12:30 p.m. EDT April 23 until 12:30 p.m. EDT April 30 by dialing (888) 203-1112 (domestic) or (719) 457-0820 (international). The access code is 8053208. TABLE 1: FULL-YEAR 2021 GUIDANCE4 Previous Guidance Current Guidance Sales $33.4B - $34.4B $34.0B - $34.8B Organic Growth 1% - 4% 3% - 5% Segment Margin 20.7% - 21.1% 20.7% - 21.1% Expansion Up 30 - 70 bps Up 30 - 70 bps Adjusted Earnings Per Share2 $7.60 - $8.00 $7.75 - $8.00 Adjusted Earnings Growth3 7% - 13% 9% - 13% Operating Cash Flow $5.7B - $6.1B $5.8B - $6.1B Free Cash Flow $5.1B - $5.5B $5.2B - $5.5B TABLE 2: SUMMARY OF HONEYWELL FINANCIAL RESULTS 1Q 2021 1Q 2020 Change Sales 8,454 8,463 % Organic Growth (2%) Segment Margin 21.0% 21.8% -80 bps Operating Income Margin 17.8% 20.0% -220 bps Earnings Per Share $2.03 $2.21 (8%) Adjusted Earnings Per Share1 $1.92 $2.21 (13%) Cash Flow from Operations 978 939 4% Operating Cash Flow Conversion 69% 59% 10% Free Cash Flow 757 800 (5%) Adjusted Free Cash Flow Conversion5 56% 51% 5% TABLE 3: SUMMARY OF SEGMENT FINANCIAL RESULTS AEROSPACE 1Q 2021 1Q 2020 Change Sales 2,632 3,361 (22%) Organic Growth (22%) Segment Profit 762 937 (19%) Segment Margin 29.0% 27.9% 110 bps HONEYWELL BUILDING TECHNOLOGIES Sales 1,358 1,281 6% Organic Growth 2% Segment Profit 305 262 16% Segment Margin 22.5% 20.5% 200 bps PERFORMANCE MATERIALS AND TECHNOLOGIES Sales 2,346 2,397 (2%) Organic Growth (6%) Segment Profit 434 512 (15%) Segment Margin 18.5% 21.4% -290 bps SAFETY AND PRODUCTIVITY SOLUTIONS Sales 2,118 1,424 49% Organic Growth 47% Segment Profit 303 178 70% Segment Margin 14.3% 12.5% 180 bps 1Adjusted EPS and adjusted EPS V% exclude the $0.11 impact of the sale of the retail footwear business 2Adjusted EPS guidance excludes the $0.11 impact of the sale of the retail footwear business and any potential future one-time items that we cannot reliably predict or estimate such as pension mark-to-market 3Adjusted EPS V% guidance excludes the $0.11 impact of the sale of the retail footwear business, any potential future one-time items that we cannot reliably predict or estimate such as pension mark-to-market, 4Q20 pension mark-to-market, 2Q20 favorable resolution of a foreign tax matter related to the spin-off transactions, and non-cash charges associated with the reduction in value of reimbursement receivables due from Garrett Motion Inc. (Garrett), net of proceeds from the settlement of related hedging transactions 4As discussed in the notes to the attached reconciliations, we do not provide guidance for margin or EPS on a GAAP basis 5Adjusted free cash flow conversion excludes the gain on sale of the retail footwear business Honeywell (www.honeywell.com) is a Fortune 100 technology company that delivers industry specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help everything from aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom. This release contains certain statements that may be deemed \"forward-looking statements\" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, technological, and COVID-19 public health factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, and other developments, including the potential impact of the COVID-19 pandemic, and business decisions may differ from those envisaged by such forward-looking statements. Any forward-looking plans described herein are not final and may be modified or abandoned at any time. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission. This release contains financial measures presented on a non-GAAP basis. Honeywell's non-GAAP financial measures used in this release are as follows: segment profit, on an overall Honeywell basis, a measure by which we assess operating performance, which we define as operating income adjusted for certain items as presented in the Appendix; segment margin, on an overall Honeywell basis, which we define as segment profit divided by sales; organic sales growth, which we define as sales growth less the impacts from foreign currency translation, and acquisitions and divestitures for the first 12 months following transaction date; free cash flow, which we define as cash flow from operations less capital expenditures plus anticipated cash receipts from Garrett, if and as noted in the release; adjusted free cash flow conversion, which we define as free cash flow divided by net income attributable to Honeywell, excluding the gain on sale of the Retail footwear business, if and as noted in the release; and adjusted earnings per share, which we adjust to exclude pension mark-to-market, the favorable resolution of a foreign tax matter related to the spin-off transactions, non-cash charges associated with the reduction in value of reimbursement receivables due from Garrett, net of proceeds from settlement of related hedging transactions, and the gain on sale of the Retail footwear business, if and as noted in the release. Management believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. These metrics should be considered in addition to, and not as replacements for, the most comparable GAAP measure. Refer to the Appendix attached to this release for reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures. Honeywell International Inc. Consolidated Statement of Operations (Unaudited) (Dollars in millions, except per share amounts) Three Months Ended March 31, 2021 2020 Product sales $ 6,409 $ 6,305 Service sales 2,045 2,158 Net sales 8,454 8,463 Costs, expenses and other Cost of products sold(1) 4,551 4,374 Cost of services sold(1) 1,158 1,160 5,709 5,534 Selling, general and administrative expenses(1) 1,236 1,238 Other (income) expense (442) (317) Interest and other financial charges 90 73 6,593 6,528 Income before taxes 1,861 1,935 Tax expense (benefit) 413 329 Net income 1,448 1,606 Less: Net income attributable to the noncontrolling interest 21 25 Net income attributable to Honeywell $ 1,427 $ 1,581 Earnings per share of common stock - basic $ 2.05 $ 2.23 Earnings per share of common stock - assuming dilution $ 2.03 $ 2.21 Weighted average number of shares outstanding - basic 696.2 709.6 Weighted average number of shares outstanding - assuming dilution 704.5 717.0 (1) Cost of products and services sold and Selling, general and administrative expenses include amounts for repositioning and other charges, the service cost component of pension and other postretirement (income) expense, and stock compensation expense. Honeywell International Inc. Segment Data (Unaudited) (Dollars in millions) Three Months Ended March 31, Net Sales 2021 2020 Aerospace $ 2,632 $ 3,361 Honeywell Building Technologies 1,358 1,281 Performance Materials and Technologies 2,346 2,397 Safety and Productivity Solutions 2,118 1,424 Total $ 8,454 $ 8,463 Reconciliation of Segment Profit to Income Before Taxes Three Months Ended March 31, Segment Profit 2021 2020 Aerospace $ 762 $ 937 Honeywell Building Technologies 305 262 Performance Materials and Technologies 434 512 Safety and Productivity Solutions 303 178 Corporate (29) (41) Total segment profit 1,775 1,848 Interest and other financial charges (90) (73) Stock compensation expense (1) (77) (44) Pension ongoing income (2) 276 198 Other postretirement income (2) 17 13 Repositioning and other charges (3,4) (141) (62) Other (5) 101 55 Income before taxes $ 1,861 $ 1,935 (1) Amounts included in Selling, general and administrative expenses. (2) Amounts included in Cost of products and services sold and Selling, general and administrative expenses (service costs) and Other income/expense (non-service cost components). (3) Amounts included in Cost of products and services sold, Selling, general and administrative expenses, and Other (income) expense. (4) Includes repositioning, asbestos, and environmental expenses. (5) Amounts include the other components of Other (income) expense not included within other categories in this reconciliation. Equity income of affiliated companies is included in segment profit. Honeywell International Inc. Consolidated Balance Sheet (Unaudited) (Dollars in millions) March 31, 2021 December 31, 2020 ASSETS Current assets: Cash and cash equivalents $ 11,718 $ 14,275 Short-term investments 942 945 Accounts receivable - net 6,675 6,827 Inventories 4,607 4,489 Other current assets 1,645 1,639 Total current assets 25,587 28,175 Investments and long-term receivables 746 685 Property, plant and equipment - net 5,547 5,570 Goodwill 16,981 16,058 Other intangible assets - net 3,799 3,560 Insurance recoveries for asbestos related liabilities 347 366 Deferred income taxes 762 760 Other assets 9,792 9,412 Total assets $ 63,561 $ 64,586 LIABILITIES Current liabilities: Accounts payable $ 5,792 $ 5,750 Commercial paper and other short-term borrowings 3,568 3,597 Current maturities of long-term debt 1,635 2,445 Accrued liabilities 6,955 7,405 Total current liabilities 17,950 19,197 Long-term debt 16,124 16,342 Deferred income taxes 2,309 2,113 Postretirement benefit obligations other than pensions 234 242 Asbestos-related liabilities 1,873 1,920 Other liabilities 6,812 6,975 Redeemable noncontrolling interest 7 7 Shareowners' equity 18,252 17,790 Total liabilities, redeemable noncontrolling interest and shareowners' equity $ 63,561 $ 64,586 Honeywell International Inc. Consolidated Statement of Cash Flows (Unaudited) (Dollars in millions) Three Months Ended March 31, 2021 2020 Cash flows from operating activities: Net income $ 1,448 $ 1,606 Less: Net income attributable to the noncontrolling interest 21 25 Net income attributable to Honeywell 1,427 1,581 Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities: Depreciation 171 153 Amortization 170 90 Gain on sale of non-strategic businesses and assets (90) Repositioning and other charges 141 62 Net payments for repositioning and other charges (195) (111) Pension and other postretirement income (293) (212) Pension and other postretirement benefit payments (14) (14) Stock compensation expense 77 44 Deferred income taxes 63 (58) Other (96) (179) Changes in assets and liabilities, net of the effects of acquisitions and divestitures: Accounts receivable 143 41 Inventories (158) (163) Other current assets (66) 166 Accounts payable 57 (54) Accrued liabilities (359) (407) Net cash provided by (used for) operating activities 978 939 Cash flows from investing activities: Expenditures for property, plant and equipment (221) (139) Proceeds from disposals of property, plant and equipment 14 7 Increase in investments (736) (648) Decrease in investments 612 843 Receipts (payments) from settlements of derivative contracts 140 287 Cash paid for acquisitions, net of cash acquired (1,303) Proceeds from sales of businesses, net of fees paid 190 Net cash provided by (used for) investing activities (1,304) 350 Cash flows from financing activities: Proceeds from issuance of commercial paper and other short-term borrowings 1,268 3,455 Payments of commercial paper and other short-term borrowings (1,266) (3,373) Proceeds from issuance of common stock 67 66 Proceeds from issuance of long-term debt 23 1,127 Payments of long-term debt (817) (1,125) Repurchases of common stock (822) (1,923) Cash dividends paid (640) (635) Other (30) (38) Net cash provided by (used for) financing activities (2,217) (2,446) Effect of foreign exchange rate changes on cash and cash equivalents (14) (189) Net increase (decrease) in cash and cash equivalents (2,557) (1,346) Cash and cash equivalents at beginning of period 14,275 9,067 Cash and cash equivalents at end of period $ 11,718 $ 7,721 Honeywell International Inc. Reconciliation of Organic Sales % Change (Unaudited) Three Months Ended March 31, 2021 Honeywell Reported sales % change % Less: Foreign currency translation 2% Less: Acquisitions, divestitures and other, net % Organic sales % change (2)% Aerospace Reported sales % change (22)% Less: Foreign currency translation % Less: Acquisitions, divestitures and other, net % Organic sales % change (22)% Honeywell Building Technologies Reported sales % change 6% Less: Foreign currency translation 4% Less: Acquisitions, divestitures and other, net % Organic sales % change 2% Performance Materials and Technologies Reported sales % change (2)% Less: Foreign currency translation 3% Less: Acquisitions, divestitures and other, net 1% Organic sales % change (6)% Safety and Productivity Solutions Reported sales % change 49% Less: Foreign currency translation 3% Less: Acquisitions, divestitures and other, net (1)% Organic sales % change 47% We define organic sales percent as the year over year change in reported sales relative to the comparable period, excluding the impact on sales from foreign currency translation and acquisitions, net of divestitures. We believe this measure is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. A quantitative reconciliation of reported sales percent change to organic sales percent change has not been provided for forward-looking measures of organic sales percent change because management cannot reliably predict or estimate, without unreasonable effort, the fluctuations in global currency markets that impact foreign currency translation, nor is it reasonable for management to predict the timing, occurrence and impact of acquisition and divestiture transactions, all of which could significantly impact our reported sales percent change. Honeywell International Inc. Reconciliation of Segment Profit to Operating Income and Calculation of Segment Profit and Operating Income Margins (Unaudited) (Dollars in millions) Three Months Ended March 31, Twelve Months Ended December 31, 2021 2020 2020 Segment profit $ 1,775 $ 1,848 $ 6,665 Stock compensation expense (1) (77) (44) (168) Repositioning, Other (2,3) (155) (74) (641) Pension and other postretirement service costs (4) (34) (39) (160) Operating income $ 1,509 $ 1,691 $ 5,696 Segment profit $ 1,775 $ 1,848 $ 6,665 Net sales $ 8,454 $ 8,463 $ 32,637 Segment profit margin % 21.0 % 21.8 % 20.4 % Operating income $ 1,509 $ 1,691 $ 5,696 Net sales $ 8,454 $ 8,463 $ 32,637 Operating income margin % 17.8 % 20.0 % 17.5 % (1) Included in Selling, general and administrative expenses. (2) Includes repositioning, asbestos, environmental expenses and equity income adjustment. (3) Included in Cost of products and services sold, Selling, general and administrative expenses and Other (income) expense. (4) Included in Cost of products and services sold and Selling, general and administrative expenses. We define segment profit as operating income, excluding stock compensation expense, pension and other postretirement service costs, and repositioning and other charges. We believe these measures are useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. A quantitative reconciliation of segment profit, on an overall Honeywell basis, to operating income has not been provided for all forward-looking measures of segment profit and segment margin included herewithin. Management cannot reliably predict or estimate, without unreasonable effort, the impact and timing on future operating results arising from items excluded from segment profit. The information that is unavailable to provide a quantitative reconciliation could have a significant impact on our reported financial results. To the extent quantitative information becomes available without unreasonable effort in the future, and closer to the period to which the forward-looking measures pertain, a reconciliation of segment profit to operating income will be included within future filings. Honeywell International Inc. Reconciliation of Earnings per Share to Adjusted Earnings per Share (Unaudited) Three Months Ended March 31, Twelve Months Ended December 31, 2021 2020 2020 Earnings per share of common stock - assuming dilution (1) $ 2.03 $ 2.21 $ 6.72 Pension mark-to-market expense (2) 0.04 Separation related tax adjustment (3) (0.26) Gain on sale of retail footwear business (4) (0.11) Garrett related adjustment (5) 0.60 Adjusted earnings per share of common stock - assuming dilution $ 1.92 $ 2.21 $ 7.10 (1) For the three months ended March 31, 2021 and 2020, adjusted earnings per share utilizes weighted average shares of approximately 704.5 million and 717.0 million. For the twelve months ended December 31, 2020, adjusted earnings per share utilizes weighted average shares of 711.2 million. (2) Pension mark-to-market expense uses a blended tax rate of 25% for 2020. (3) For the twelve months ended December 31, 2020, separation related tax adjustment of $186 million ($186 million net of tax) includes the favorable resolution of a foreign tax matter related to the spin-off transactions. (4) For the three months ended March 31, 2021, the adjustment was $72 million net of tax due to the gain on sale of the retail footwear business. (5) For the twelve months ended December 31, 2020, adjustment was $427 million net of tax due to the non-cash charges associated with the reduction in value of reimbursement receivables due from Garrett, net of proceeds from settlement of related hedging transactions. We believe adjusted earnings per share, excluding spin-off impact, is a measure that is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. For forward looking information, management cannot reliably predict or estimate, without unreasonable effort, the pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. We therefore do not include an estimate for the pension mark-to-market expense. Based on economic and industry conditions, future developments and other relevant factors, these assumptions are subject to change. Honeywell International Inc. Reconciliation of Cash Provided by Operating Activities to Adjusted Free Cash Flow and Calculation of Adjusted Free Cash Flow Conversion (Unaudited) (Dollars in millions) Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 Cash provided by operating activities $ 978 $ 939 Expenditures for property, plant and equipment (221) (139) Free cash flow 757 800 Separation cost payments Adjusted free cash flow $ 757 $ 800 Net income attributable to Honeywell 1,427 1,581 Separation related tax adjustment Pension mark-to-market Gain on sale of retail footwear business (1) (72) Adjusted net income attributable to Honeywell $ 1,355 $ 1,581 Cash provided by operating activities $ 978 $ 939 Net income (loss) attributable to Honeywell $ 1,427 $ 1,581 Operating cash flow conversion 69 % 59 % Adjusted free cash flow $ 757 $ 800 Adjusted net income attributable to Honeywell $ 1,355 $ 1,581 Adjusted free cash flow conversion % 56 % 51 % (1) The adjustment due to a gain on sale of the retail footwear business. We define free cash flow as cash provided by operating activities less cash expenditures for property, plant and equipment plus anticipated cash receipts from Garrett. We believe that free cash flow is a non-GAAP metric that is useful to investors and management as a measure of cash generated by operations that will be used to repay scheduled debt maturities and can be used to invest in future growth through new business development activities or acquisitions, pay dividends, repurchase stock or repay debt obligations prior to their maturities. This metric can also be used to evaluate our ability to generate cash flow from operations and the impact that this cash flow has on our liquidity. For forward looking information, we do not provide cash flow conversion guidance on a GAAP basis as management cannot reliably predict or estimate, without unreasonable effort, the pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. Honeywell International Inc. Reconciliation of Cash Provided by Operating Activities to Adjusted Free Cash Flow (Unaudited) TwelveMonths Ended December31, 2021(E) ($B) Cash provided by operating activities ~$5.8 - $6.1 Expenditures for property, plant and equipment ~(1) Garrett cash receipts 0.4 Free cash flow ~$5.2 - $5.5 We define free cash flow as cash provided by operating activities less cash expenditures for property, plant and equipment plus anticipated cash receipts from Garrett. We believe that free cash flow is a non-GAAP metric that is useful to investors and management as a measure of cash generated by operations that will be used to repay scheduled debt maturities and can be used to invest in future growth through new business development activities or acquisitions, pay dividends, repurchase stock or repay debt obligations prior to their maturities. This metric can also be used to evaluate our ability to generate cash flow from operations and the impact that this cash flow has on our liquidity. For forward looking information, we do not provide cash flow conversion guidance on a GAAP basis as management cannot reliably predict or estimate, without unreasonable effort, the pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. Honeywell International Inc. Reconciliation of Expected Earnings per Share to Adjusted Earnings per Share (Unaudited) Twelve Months Ended December 31, 2021(E) Earnings per share of common stock - assuming dilution (1) $7.86 - $8.11 Gain on sale of retail footwear business (2) (0.11) Adjusted earnings per share of common stock - assuming dilution $7.75 - $8.00 (1) For the twelve months ended December 31, 2021, expected earnings per share utilizes weighted average shares of approximately 705 million. (2) For the twelve months ended December 31, 2021, the adjustment was $72 million net of tax due to the gain on sale of the retail footwear business. We believe adjusted earnings per share is a measure that is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. For forward looking information, management cannot reliably predict or estimate any potential future one-time items, such as pension mark-to-market, without unreasonable effort. Pension mark-to-market expense is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. We therefore do not include an estimate for the pension mark-to-market expense. Based on economic and industry conditions, future developments and other relevant factors, these assumptions are subject to change. Contacts: Media Investor Relations Nina Krauss Mark Bendza (704) 627-6035 (704) 627-6200 [emailprotected] [emailprotected] SOURCE Honeywell Related Links http://www.honeywell.com",
Chinese News:
霍尼韦尔（纽交所代码：HON）近日发布了超出业绩指导预期的第一季度财务业绩，上调了全年销售额业绩指导以及调整后每股收益和现金流财务指导范围的中位数。“霍尼韦尔在2021年开局强劲，第一季度业绩超出预期。我们在业务涵盖的一些市场中看到了快速复苏的迹象，并且随时准备充分利用新出现的商机，”霍尼韦尔董事长兼首席执行官杜瑞哲表示：“第一季度报告销售额为85亿美元，与去年同期持平，内 生式销售额下降了2%。受益于仓储和工作流程解决方案以及个人防护设备业务保持两位数的增长，以及市场对霍尼韦尔建筑产品和服务、高性能 材料和互联软件的需求增长，我们第一季度的销售额超出业绩指导预期范围上限约2.5亿美元。本季度营运利润率下降220个基点至17.8%，部门利润率下降80个基点至21.0%，超出业绩指导预测范围上限10个基点。其中航空航天集团、智能建筑科技集团和安全与生产力解决方案集团连续第二个季度实现了部门利润率的增长，这得益于我们在2020年采取成本管理措施后精简了成本结构。第一季度每股收益为2.03美元，调整后每股收益1为1.92美元，同比下降13%，但比前述业绩指导预测范围上限高出9美分。本季度，我们继续利用强劲的资产负债表，并投资于高回报的业务机会 ，包括完成对质量管理软件领军企业Sparta Systems的收购并宣布收购建筑内部通信系统供应商Fiplex的多数股权。此外，我们回购了8亿美元的霍尼韦尔股票，并通过霍尼韦尔创投（Honeywell Ventures）对五个项目进行了战略投资。”杜瑞哲还表示：“展望整个2021年及未来，我们已经 做好了迎接经济复苏的准备。我们在生命科学等成长型市场的新产品越来越受欢迎，而受疫情影响最为严重的行业境况预计在全年内将持续改善 。我们拥有强大的技术组合，能帮助客户实现其环保和社会目标。实际上，霍尼韦尔公司约50%的新产品研发投资都以改善客户的环保表现和社会效益为出发点。4月初，我们在此前做出的2024年将碳足迹在2018年的基础上减少10%的承诺基础上，宣布承诺于2035年前实现所有业务运营和设 施的碳中和目标。霍尼韦尔对实现这一承诺充满信心，因为我们曾多次制定进取的可持续发展目标并超额完成，使公司温室气体排放强度自2004 年以来降低了90%以上。我们期待继续为我们的股东、客户和员工取得优秀的业绩。”基于公司第一季度的业绩以及管理层对全年的展望，霍尼韦 尔上调了全年销售额业绩指导以及调整后每股收益和现金流财务指导范围的中位数。全年内生式销售额增长预计在3%至5%的区间。调整后每股收 益2预计为7.75美元至8.00美元，较之前的业绩指导预期范围下限上调了15美分。运营现金流预计在58亿美元至61亿美元之间，自由现金流预计在52亿美元至55亿美元之间。公司全年业绩指导概要参见表1。第一季度业绩霍尼韦尔第一季度报告销售额与去年持平，内生式销售额下降2%。有关第一季度的具体财务数据请参阅原文表2和表3。航空航天集团第一季度内生式销售额下降22%，主要受到航班时间缩减带来的商用航空售后需求降低、商用原始设备销售疲软以及国际防务产品销量下降等因素持续影响，而美国防务及航天业务的增长部分抵消了上述不利影响。部门利润率上 涨110个基点至29.0%。利润率的增长由诸多因素决定，包括卓越的商业运营、成本管理和一次性收益等。智能建筑科技集团第一季度内生式销售 额上涨2%，主要得益于产品需求和建筑解决方案服务的增长。受服务和安防产品订单强劲增长的驱动，公司的订单同比实现了个位数中值的增长 速度。在卓越商业运营、生产力增长（不考虑通货膨胀）的推动下，部门利润率增加110个基点至22.5%。 特性材料和技术集团第一季度内生式销售额下降6%，主要由于过程控制部自动化项目的持续延迟、智慧能源业务量下降以及UOP技术许可和催化剂等需求的下降，而高性能材料部业务受氟产品和特殊材料的强劲需求的推动持续增长，部分抵消了上述不利影响。受到销售组合因素的影响，该集团部门利润率下降290个基点至18.5% ，而卓越的商业运营部分抵消了这一不利因素。安全与生产力解决方案集团第一季度内生式销售额增长47%，主要得益于仓储和工作流程解决方案、个人防护装备业务和生产力解决方案和服务业务取得两位数增长。受个人防护装备业务以及生产力解决方案和服务业务的强劲增长推动，订单 连续第六个季度实现两位数同比增长。未交货订单连续第三个季度保持在40亿美元以上。得益于销量的增加，部门利润率增加180个基点至14.3% 。
Japanese News:
米エネルギーWabash Valley Resourcesは4月12日、ブルー水素生産のためのCCS（炭素回収・貯留）プロジェクトで、重工業世界大手ハネウェルの石油精製子会社ハネウェルUOPを開発事業者に選定したと発表した。CCS（炭素回収・貯留）プロジェクトの規模は米国最大規模となる見込み。 ハネウェルUOPは今回、Wabash Valley ResourcesへCCS技術を提供し、米インディアナ州ウェストテレホートのガス化プラントで、ブルー水素を生成する。同プラントは、Wabash Valley Resourcesが2016年に購入し、現在、ブルー水素生産工場への転換を進めている。CCUにより、二酸化炭素を年間165万t削減できるという。米エネルギー省（DOE）からも助成対象に選定された。 ハネウェルUOPが持つガス改質技術「Ortloff CO2」は、合成ガスから二酸化炭素を80%取り除いた後に、圧力変動吸着法（PSA法）で残存合成ガスから純度の高い液体二酸化炭素を生成し、副生物として水素を得る。回収した二酸化炭素は液体状態のため、扱いが容易であり、運搬後、地下に貯留する。同社が持つ「Polybed PSA」技術では、エチレンやメタノールのオフ・ガスや、部分酸化合成ガスも原料にできる。また、酸性ガス除去や脱水・脱硫技術の「MOLSIV」の技術ライセンスも提供する。 米エネルギー省の水素計画では、燃料電池および水素エネルギー協会（FCHEA）の調査を基に、水素経済が、2030年までに年間1,400億米ドル（約15兆円）の市場規模となり、雇用70万人分を創出すると予測。2050年までには、年間7,500億米ドル（約81兆円）の市場規模となり、雇用340万人分を創出すると見込んでいる。 米国では3月16日に、ヴァレロ・エナジーと、ブラックロックの「グローバル・エナジー&パワー・インフラストラクチャーファンド3号」が、Navigator Energy Servicesと協働し、中西部に大規模なCCSプラントを建設することも発表済み。総長1,200マイル（約1,920km）のパイプラインを中西部のネブラスカ州、アイオワ州、サウスダコタ州、ミネソタ州、イリノイ州の5州に跨って敷設し、年間500万tの液体二酸化炭素排出量をイリノイ州南部の貯留施設に輸送。そこで貯留するというもの。協力企業が増えれば、処理能力を年間800万tにまで拡大することも検討している。操業開始は2024年を後半を予定。
Spanish News:
Honeywell (NYSE:HON) presentó el Viernes sus beneficios correspondientes al primer trimestre del año, cifras que superaron las previsiones de los analistas. Los ingresos, por su parte, se situaron por encima de lo esperado. La compañía presentó un beneficio por acción de $1,92 y una facturación de $8,45B. Los analistas encuestados por Investing.com esperaban un BPA de $1,8 y unos ingresos de $8,08B En lo que llevamos de año, la acción de Honeywell avanza un 7%, por debajo de lo esperado al Dow Jones, lo que representa una subida del 10%. Con sus cifras, Honeywell se une este mes a otras grandes del sector Bienes de capital. El pasado Miércoles, ASML ADR presentó un BPA para el primer trimestre del año de $3,86 y unos ingresos de $5,25B, frente a la previsión de BPA de $3,06 y de ingresos de $4,76B. Los beneficios de Lockheed Martin superaron las previsiones de los analistas lanzadas el pasado Martes, con un BPA para el primer trimestre de $6,56 y unos ingresos de $16,26B. Los analistas encuestados por Investing.com esperaban un BPA de $6,31 y unos ingresos de $16,38B. Manténgase al día de todas las cifras empresariales visitando nuestro Calendario de Resultados.
Greek News:
Η Honeywell ανακοίνωσε δύο σημαντικές συμφωνίες στον τομέα της αεροπορικής υποστήριξης και συντήρησης, διευρύνοντας τη διεθνή της παρουσία και ενισχύοντας τις δυνατότητες εξυπηρέτησης σε κρίσιμες αγορές. Συγκεκριμένα, η εταιρεία υπέγραψε πενταετή συμφωνία με την Abu Dhabi Aviation (ADA), ως αποκλειστικός παγκόσμιος διανομέας, με εξαίρεση των αγορών των ΗΠΑ και Ιαπωνίας, για τις μονάδες Multifunction Control Display Units (MCDU) που χρησιμοποιούνται σε ελικόπτερα Leonardo AW139. Η ADA, με πολυετή εμπειρία στη προμήθεια και υποστήριξη αεροπορικού εξοπλισμού στη Μέση Ανατολή, θα επιτρέψει στην Honeywell να εφαρμόσει προσαρμοσμένα επιχειρησιακά προγράμματα που συντελούν στη μείωση του κόστους και την επιβράδυνση της τεχνολογικής απαξίωσης των προϊόντων. Παράλληλα, η Honeywell προχώρησε στην υπογραφή δεκαετούς, μη αποκλειστικής συμφωνίας με την GKN Aerospace’s Fokker Landing Gear στην Ολλανδία, για την ίδρυση εξουσιοδοτημένου κέντρου συντήρησης των συστημάτων τροχών και φρένων του μαχητικού F-35. Η συνεργασία αυτή στοχεύει στην ενίσχυση της τεχνικής υποστήριξης εντός Ευρώπης και στην αποτελεσματικότερη εξυπηρέτηση των περιφερειακών χειριστών του αεροσκάφους, με ταυτόχρονη μείωση του λειτουργικού κόστους.
Question:
Please list the top three focuses on revenue from news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | Please list the top three focuses on revenue from news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Honeywell is allocating capital to acquisitions (e.g., Sparta Systems), share repurchases, and dividends. This reflects confidence in performance and outlook, as noted in its continued investment in high-return opportunities.
Financial Statement Evidence:Acquisition outflow: $1.30B;Share repurchases: $822M;Dividends paid: $640M |
HON_20210423 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:------------------------------------------------------------------------------|:----------------------|:-----------|:------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | March 31, 2021 | | December 31, 2020 | | | | | | | | |
| | (Dollars in millions) | | | | | | | | | | |
| ASSETS | | | | | | | | | | | |
| Current assets: | | | | | | | | | | | |
| Cash and cash equivalents | $ | 11,718 | | | $ | 14,275 | | | | | |
| Short-term investments | 942 | | | 945 | | | | | | | |
| Accounts receivable - net | 6,675 | | | 6,827 | | | | | | | |
| Inventories | 4,607 | | | 4,489 | | | | | | | |
| Other current assets | 1,645 | | | 1,639 | | | | | | | |
| Total current assets | 25,587 | | | 28,175 | | | | | | | |
| Investments and long-term receivables | 746 | | | 685 | | | | | | | |
| Property, plant and equipment - net | 5,547 | | | 5,570 | | | | | | | |
| Goodwill | 16,981 | | | 16,058 | | | | | | | |
| Other intangible assets - net | 3,799 | | | 3,560 | | | | | | | |
| Insurance recoveries for asbestos related liabilities | 347 | | | 366 | | | | | | | |
| Deferred income taxes | 762 | | | 760 | | | | | | | |
| Other assets | 9,792 | | | 9,412 | | | | | | | |
| Total assets | $ | 63,561 | | | $ | 64,586 | | | | | |
| LIABILITIES | | | | | | | | | | | |
| Current liabilities: | | | | | | | | | | | |
| Accounts payable | $ | 5,792 | | | $ | 5,750 | | | | | |
| Commercial paper and other short-term borrowings | 3,568 | | | 3,597 | | | | | | | |
| Current maturities of long-term debt | 1,635 | | | 2,445 | | | | | | | |
| Accrued liabilities | 6,955 | | | 7,405 | | | | | | | |
| Total current liabilities | 17,950 | | | 19,197 | | | | | | | |
| Long-term debt | 16,124 | | | 16,342 | | | | | | | |
| Deferred income taxes | 2,309 | | | 2,113 | | | | | | | |
| Postretirement benefit obligations other than pensions | 234 | | | 242 | | | | | | | |
| Asbestos-related liabilities | 1,873 | | | 1,920 | | | | | | | |
| Other liabilities | 6,812 | | | 6,975 | | | | | | | |
| Redeemable noncontrolling interest | 7 | | | 7 | | | | | | | |
| SHAREOWNERS’ EQUITY | | | | | | | | | | | |
| Capital - common stock issued | 958 | | | 958 | | | | | | | |
| - additional paid-in capital | 7,505 | | | 7,292 | | | | | | | |
| Common stock held in treasury, at cost | (27,975) | | | (27,229) | | | | | | | |
| Accumulated other comprehensive loss | (3,184) | | | (3,377) | | | | | | | |
| Retained earnings | 40,682 | | | 39,905 | | | | | | | |
| Total Honeywell shareowners’ equity | 17,986 | | | 17,549 | | | | | | | |
| Noncontrolling interest | 266 | | | 241 | | | | | | | |
| Total shareowners’ equity | 18,252 | | | 17,790 | | | | | | | |
| Total liabilities, redeemable noncontrolling interest and shareowners’ equity | $ | 63,561 | | | $ | 64,586 | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:------------------------------------------------------------------------------------------------------------|:-----------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | Three Months Ended March 31, | | | | | | | | | | |
| | 2021 | | 2020 | | | | | | | | |
| | (Dollars in millions) | | | | | | | | | | |
| Cash flows from operating activities: | | | | | | | | | | | |
| Net income | $ | 1,448 | | | $ | 1,606 | | | | | |
| Less: Net income attributable to the noncontrolling interest | 21 | | | 25 | | | | | | | |
| Net income attributable to Honeywell | 1,427 | | | 1,581 | | | | | | | |
| Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities: | | | | | | | | | | | |
| Depreciation | 171 | | | 153 | | | | | | | |
| Amortization | 170 | | | 90 | | | | | | | |
| Gain on sale of non-strategic businesses and assets | (90) | | | — | | | | | | | |
| Repositioning and other charges | 141 | | | 62 | | | | | | | |
| Net payments for repositioning and other charges | (195) | | | (111) | | | | | | | |
| Pension and other postretirement income | (293) | | | (212) | | | | | | | |
| Pension and other postretirement benefit payments | (14) | | | (14) | | | | | | | |
| Stock compensation expense | 77 | | | 44 | | | | | | | |
| Deferred income taxes | 63 | | | (58) | | | | | | | |
| | | | | | | | | | | | |
| Other | (96) | | | (179) | | | | | | | |
| Changes in assets and liabilities, net of the effects of acquisitions and divestitures: | | | | | | | | | | | |
| Accounts receivable | 143 | | | 41 | | | | | | | |
| Inventories | (158) | | | (163) | | | | | | | |
| Other current assets | (66) | | | 166 | | | | | | | |
| Accounts payable | 57 | | | (54) | | | | | | | |
| Accrued liabilities | (359) | | | (407) | | | | | | | |
| Net cash provided by (used for) operating activities | 978 | | | 939 | | | | | | | |
| Cash flows from investing activities: | | | | | | | | | | | |
| Expenditures for property, plant and equipment | (221) | | | (139) | | | | | | | |
| Proceeds from disposals of property, plant and equipment | 14 | | | 7 | | | | | | | |
| Increase in investments | (736) | | | (648) | | | | | | | |
| Decrease in investments | 612 | | | 843 | | | | | | | |
| Receipts (payments) from settlements of derivative contracts | 140 | | | 287 | | | | | | | |
| Cash paid for acquisitions, net of cash acquired | (1,303) | | | — | | | | | | | |
| Proceeds from sales of businesses, net of fees paid | 190 | | | — | | | | | | | |
| Net cash provided by (used for) investing activities | (1,304) | | | 350 | | | | | | | |
| Cash flows from financing activities: | | | | | | | | | | | |
| Proceeds from issuance of commercial paper and other short-term borrowings | 1,268 | | | 3,455 | | | | | | | |
| Payments of commercial paper and other short-term borrowings | (1,266) | | | (3,373) | | | | | | | |
| Proceeds from issuance of common stock | 67 | | | 66 | | | | | | | |
| Proceeds from issuance of long-term debt | 23 | | | 1,127 | | | | | | | |
| Payments of long-term debt | (817) | | | (1,125) | | | | | | | |
| Repurchases of common stock | (822) | | | (1,923) | | | | | | | |
| Cash dividends paid | (640) | | | (635) | | | | | | | |
| Other | (30) | | | (38) | | | | | | | |
| Net cash provided by (used for) financing activities | (2,217) | | | (2,446) | | | | | | | |
| Effect of foreign exchange rate changes on cash and cash equivalents | (14) | | | (189) | | | | | | | |
| Net increase (decrease) in cash and cash equivalents | (2,557) | | | (1,346) | | | | | | | |
| Cash and cash equivalents at beginning of period | 14,275 | | | 9,067 | | | | | | | |
| Cash and cash equivalents at end of period | $ | 11,718 | | | $ | 7,721 | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 |
|:-------------------------------------------------------------|:------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | |
| | Three Months Ended March 31, | | | | | | | | | | | | | | |
| | 2021 | | 2020 | | | | | | | | | | | | |
| | (Dollars in millions, except per share amounts) | | | | | | | | | | | | | | |
| Product sales | $ | 6,409 | | | $ | 6,305 | | | | | | | | | |
| Service sales | 2,045 | | | 2,158 | | | | | | | | | | | |
| Net sales | 8,454 | | | 8,463 | | | | | | | | | | | |
| Costs, expenses and other | | | | | | | | | | | | | | | |
| Cost of products sold | 4,551 | | | 4,374 | | | | | | | | | | | |
| Cost of services sold | 1,158 | | | 1,160 | | | | | | | | | | | |
| | 5,709 | | | 5,534 | | | | | | | | | | | |
| Selling, general and administrative expenses | 1,236 | | | 1,238 | | | | | | | | | | | |
| Other (income) expense | (442) | | | (317) | | | | | | | | | | | |
| Interest and other financial charges | 90 | | | 73 | | | | | | | | | | | |
| | 6,593 | | | 6,528 | | | | | | | | | | | |
| Income before taxes | 1,861 | | | 1,935 | | | | | | | | | | | |
| Tax expense (benefit) | 413 | | | 329 | | | | | | | | | | | |
| Net income | 1,448 | | | 1,606 | | | | | | | | | | | |
| Less: Net income attributable to the noncontrolling interest | 21 | | | 25 | | | | | | | | | | | |
| Net income attributable to Honeywell | $ | 1,427 | | | $ | 1,581 | | | | | | | | | |
| Earnings per share of common stock - basic | $ | 2.05 | | | $ | 2.23 | | | | | | | | | |
| Earnings per share of common stock - assuming dilution | $ | 2.03 | | | $ | 2.21 | | | | | | | | | |
---
English News:
"Honeywell Overdelivers On All Guided Metrics In The First Quarter; Raises Full-Year Sales And Adjusted EPS Guidance - CHARLOTTE, N.C., April 23, 2021 /PRNewswire/ --Honeywell (NYSE: HON) today announced results for the first quarter that exceeded the company's guidance. The company also raised its full-year sales guidance and raised the midpoint of its adjusted earnings per share and cash flow guidance. \"Honeywell delivered a strong start to 2021 with first-quarter results that exceeded our expectations. We are seeing promising signs of a rapid recovery in some of our markets, and we are poised to capitalize on new business opportunities as they arise,\" said Darius Adamczyk, chairman and chief executive officer of Honeywell. \"We reported first-quarter sales of $8.5 billion, flat year over year, or a decline of 2% on an organic basis. Our first-quarter sales exceeded the high end of our guidance range by approximately $250 million driven by continued double-digit growth in our Warehouse and Workflow Solutions and personal protective equipment businesses as well as demand for our building products and services, advanced materials, and connected software. Operating margin contracted 220 basis points for the quarter to 17.8%, with segment margin contracting 80 basis points to 21.0%, which exceeded the high end of our guidance by 10 basis points. We delivered segment margin expansion in Aerospace, Honeywell Building Technologies, and Safety and Productivity Solutions for the second consecutive quarter, supported by our streamlined cost base following the cost actions we took in 2020. We delivered earnings per share of $2.03, with adjusted earnings per share1 of $1.92, down 13% year over year but 9 cents above the high end of the previously provided guidance range. We continued to take advantage of our strong balance sheet, and deployed capital to high-return opportunities in the quarter, including closing our acquisition of quality management software leader Sparta Systems and announcing the acquisition of a majority stake in Fiplex, a leading provider of in-building communications systems. In addition, we repurchased $0.8 billion in Honeywell shares and made five strategic investments through Honeywell Ventures.\" Adamczyk continued, \"As we look to the rest of 2021 and beyond, we are well positioned for the recovery to come. Our new offerings in growing markets like life sciences are gaining traction and the industries that were hardest hit by the pandemic are expected to improve throughout the year. We have a robust portfolio of technologies that help our customers meet their environmental and social goals. In fact, about half of Honeywell's new product introduction research and development investment is directed toward products that improve environmental and social outcomes for customers. Earlier this month, we pledged to become carbon neutral in our operations and facilities by 2035, building on our commitment to reduce our carbon footprint in 2024 by 10% from 2018 levels. Our confidence in this commitment is underpinned by our history of setting aggressive environmental targets and beating them, which has enabled us to reduce our greenhouse gas intensity by more than 90% since 2004. We look forward to continuing to deliver outstanding results for our shareowners, customers, and employees.\" As a result of the company's first-quarter performance and management's outlook for the remainder of the year, Honeywell raised its full-year sales guidance and raised the midpoint of its adjusted earnings per share and cash flow guidance. Full-year organic sales growth is now expected to be in the range of 3% to 5%. Adjusted earnings per share2 is expected to be $7.75 to $8.00, up 15 cents from the low end of the prior guidance range. Operating cash flow is now expected to be in the range of $5.8 billion to $6.1 billion and free cash flow is now expected to be in the range of $5.2 billion to $5.5 billion. A summary of the company's full-year guidance changes can be found in Table 1. First-Quarter PerformanceHoneywellsales for the first quarter were flat on a reported basis and down 2% on an organic basis. The first-quarter financial results can be found in Tables 2 and 3. Aerospacesales for the first quarter were down 22% on an organic basis driven by lower commercial aftermarket demand due to the ongoing impact of reduced flight hours, softness in commercial original equipment, and lower volumes in international defense, partially offset by growth in U.S. defense and space. Segment margin expanded 110 basis points to 29.0%. Margin performance was due to a number of factors, including commercial excellence, cost management, and a one-time benefit. Honeywell Building Technologiessales for the first quarter were up 2% on an organic basis driven by demand for Products and growth in Building Solutions services. Orders were up mid-single digits year over year, driven by strong bookings for services and security products. Segment margin expanded 200 basis points to 22.5% driven by commercial excellence and productivity, net of inflation. Performance Materials and Technologies sales for the first quarter were down 6% on an organic basis driven by continued delays in Process Solutions automation projects, lower volumes in smart energy, and lower demand for licensing and catalysts in UOP, partially offset by continued growth in Advanced Materials driven by strong demand for fluorine products and specialty materials. Segment margin contracted 290 basis points to 18.5% driven by the impact of sales mix, partially offset by commercial excellence. Safety and Productivity Solutionssales for the first quarter were up 47% on an organic basis driven by double-digit Warehouse and Workflow Solutions, personal protective equipment, and Productivity Solutions and Services growth. Orders were up double digits year over year for the sixth straight quarter, led by continued demand for personal protective equipment and Productivity Solutions and Services, and backlog remained above $4 billion for the third quarter in a row. Segment margin expanded 180 basis points to 14.3% driven by the impact of higher sales volumes. Conference Call DetailsHoneywell will discuss its first-quarter results and updated full-year guidance during an investor conference call starting at 8:30 a.m. Eastern Daylight Time today. To participate on the conference call, please dial (800) 263-0877 (domestic) or (646) 828-8143 (international) approximately ten minutes before the 8:30 a.m. EDT start.Please mention to the operator that you are dialing in for Honeywell's first-quarter 2021 earnings call or provide the conference code HON1Q21. The live webcast of the investor call as well as related presentation materials will be available through the Investor Relations section of the company's website (www.honeywell.com/investor). Investors can hear a replay of the conference call from 12:30 p.m. EDT April 23 until 12:30 p.m. EDT April 30 by dialing (888) 203-1112 (domestic) or (719) 457-0820 (international). The access code is 8053208. TABLE 1: FULL-YEAR 2021 GUIDANCE4 Previous Guidance Current Guidance Sales $33.4B - $34.4B $34.0B - $34.8B Organic Growth 1% - 4% 3% - 5% Segment Margin 20.7% - 21.1% 20.7% - 21.1% Expansion Up 30 - 70 bps Up 30 - 70 bps Adjusted Earnings Per Share2 $7.60 - $8.00 $7.75 - $8.00 Adjusted Earnings Growth3 7% - 13% 9% - 13% Operating Cash Flow $5.7B - $6.1B $5.8B - $6.1B Free Cash Flow $5.1B - $5.5B $5.2B - $5.5B TABLE 2: SUMMARY OF HONEYWELL FINANCIAL RESULTS 1Q 2021 1Q 2020 Change Sales 8,454 8,463 % Organic Growth (2%) Segment Margin 21.0% 21.8% -80 bps Operating Income Margin 17.8% 20.0% -220 bps Earnings Per Share $2.03 $2.21 (8%) Adjusted Earnings Per Share1 $1.92 $2.21 (13%) Cash Flow from Operations 978 939 4% Operating Cash Flow Conversion 69% 59% 10% Free Cash Flow 757 800 (5%) Adjusted Free Cash Flow Conversion5 56% 51% 5% TABLE 3: SUMMARY OF SEGMENT FINANCIAL RESULTS AEROSPACE 1Q 2021 1Q 2020 Change Sales 2,632 3,361 (22%) Organic Growth (22%) Segment Profit 762 937 (19%) Segment Margin 29.0% 27.9% 110 bps HONEYWELL BUILDING TECHNOLOGIES Sales 1,358 1,281 6% Organic Growth 2% Segment Profit 305 262 16% Segment Margin 22.5% 20.5% 200 bps PERFORMANCE MATERIALS AND TECHNOLOGIES Sales 2,346 2,397 (2%) Organic Growth (6%) Segment Profit 434 512 (15%) Segment Margin 18.5% 21.4% -290 bps SAFETY AND PRODUCTIVITY SOLUTIONS Sales 2,118 1,424 49% Organic Growth 47% Segment Profit 303 178 70% Segment Margin 14.3% 12.5% 180 bps 1Adjusted EPS and adjusted EPS V% exclude the $0.11 impact of the sale of the retail footwear business 2Adjusted EPS guidance excludes the $0.11 impact of the sale of the retail footwear business and any potential future one-time items that we cannot reliably predict or estimate such as pension mark-to-market 3Adjusted EPS V% guidance excludes the $0.11 impact of the sale of the retail footwear business, any potential future one-time items that we cannot reliably predict or estimate such as pension mark-to-market, 4Q20 pension mark-to-market, 2Q20 favorable resolution of a foreign tax matter related to the spin-off transactions, and non-cash charges associated with the reduction in value of reimbursement receivables due from Garrett Motion Inc. (Garrett), net of proceeds from the settlement of related hedging transactions 4As discussed in the notes to the attached reconciliations, we do not provide guidance for margin or EPS on a GAAP basis 5Adjusted free cash flow conversion excludes the gain on sale of the retail footwear business Honeywell (www.honeywell.com) is a Fortune 100 technology company that delivers industry specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help everything from aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom. This release contains certain statements that may be deemed \"forward-looking statements\" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, technological, and COVID-19 public health factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, and other developments, including the potential impact of the COVID-19 pandemic, and business decisions may differ from those envisaged by such forward-looking statements. Any forward-looking plans described herein are not final and may be modified or abandoned at any time. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission. This release contains financial measures presented on a non-GAAP basis. Honeywell's non-GAAP financial measures used in this release are as follows: segment profit, on an overall Honeywell basis, a measure by which we assess operating performance, which we define as operating income adjusted for certain items as presented in the Appendix; segment margin, on an overall Honeywell basis, which we define as segment profit divided by sales; organic sales growth, which we define as sales growth less the impacts from foreign currency translation, and acquisitions and divestitures for the first 12 months following transaction date; free cash flow, which we define as cash flow from operations less capital expenditures plus anticipated cash receipts from Garrett, if and as noted in the release; adjusted free cash flow conversion, which we define as free cash flow divided by net income attributable to Honeywell, excluding the gain on sale of the Retail footwear business, if and as noted in the release; and adjusted earnings per share, which we adjust to exclude pension mark-to-market, the favorable resolution of a foreign tax matter related to the spin-off transactions, non-cash charges associated with the reduction in value of reimbursement receivables due from Garrett, net of proceeds from settlement of related hedging transactions, and the gain on sale of the Retail footwear business, if and as noted in the release. Management believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. These metrics should be considered in addition to, and not as replacements for, the most comparable GAAP measure. Refer to the Appendix attached to this release for reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures. Honeywell International Inc. Consolidated Statement of Operations (Unaudited) (Dollars in millions, except per share amounts) Three Months Ended March 31, 2021 2020 Product sales $ 6,409 $ 6,305 Service sales 2,045 2,158 Net sales 8,454 8,463 Costs, expenses and other Cost of products sold(1) 4,551 4,374 Cost of services sold(1) 1,158 1,160 5,709 5,534 Selling, general and administrative expenses(1) 1,236 1,238 Other (income) expense (442) (317) Interest and other financial charges 90 73 6,593 6,528 Income before taxes 1,861 1,935 Tax expense (benefit) 413 329 Net income 1,448 1,606 Less: Net income attributable to the noncontrolling interest 21 25 Net income attributable to Honeywell $ 1,427 $ 1,581 Earnings per share of common stock - basic $ 2.05 $ 2.23 Earnings per share of common stock - assuming dilution $ 2.03 $ 2.21 Weighted average number of shares outstanding - basic 696.2 709.6 Weighted average number of shares outstanding - assuming dilution 704.5 717.0 (1) Cost of products and services sold and Selling, general and administrative expenses include amounts for repositioning and other charges, the service cost component of pension and other postretirement (income) expense, and stock compensation expense. Honeywell International Inc. Segment Data (Unaudited) (Dollars in millions) Three Months Ended March 31, Net Sales 2021 2020 Aerospace $ 2,632 $ 3,361 Honeywell Building Technologies 1,358 1,281 Performance Materials and Technologies 2,346 2,397 Safety and Productivity Solutions 2,118 1,424 Total $ 8,454 $ 8,463 Reconciliation of Segment Profit to Income Before Taxes Three Months Ended March 31, Segment Profit 2021 2020 Aerospace $ 762 $ 937 Honeywell Building Technologies 305 262 Performance Materials and Technologies 434 512 Safety and Productivity Solutions 303 178 Corporate (29) (41) Total segment profit 1,775 1,848 Interest and other financial charges (90) (73) Stock compensation expense (1) (77) (44) Pension ongoing income (2) 276 198 Other postretirement income (2) 17 13 Repositioning and other charges (3,4) (141) (62) Other (5) 101 55 Income before taxes $ 1,861 $ 1,935 (1) Amounts included in Selling, general and administrative expenses. (2) Amounts included in Cost of products and services sold and Selling, general and administrative expenses (service costs) and Other income/expense (non-service cost components). (3) Amounts included in Cost of products and services sold, Selling, general and administrative expenses, and Other (income) expense. (4) Includes repositioning, asbestos, and environmental expenses. (5) Amounts include the other components of Other (income) expense not included within other categories in this reconciliation. Equity income of affiliated companies is included in segment profit. Honeywell International Inc. Consolidated Balance Sheet (Unaudited) (Dollars in millions) March 31, 2021 December 31, 2020 ASSETS Current assets: Cash and cash equivalents $ 11,718 $ 14,275 Short-term investments 942 945 Accounts receivable - net 6,675 6,827 Inventories 4,607 4,489 Other current assets 1,645 1,639 Total current assets 25,587 28,175 Investments and long-term receivables 746 685 Property, plant and equipment - net 5,547 5,570 Goodwill 16,981 16,058 Other intangible assets - net 3,799 3,560 Insurance recoveries for asbestos related liabilities 347 366 Deferred income taxes 762 760 Other assets 9,792 9,412 Total assets $ 63,561 $ 64,586 LIABILITIES Current liabilities: Accounts payable $ 5,792 $ 5,750 Commercial paper and other short-term borrowings 3,568 3,597 Current maturities of long-term debt 1,635 2,445 Accrued liabilities 6,955 7,405 Total current liabilities 17,950 19,197 Long-term debt 16,124 16,342 Deferred income taxes 2,309 2,113 Postretirement benefit obligations other than pensions 234 242 Asbestos-related liabilities 1,873 1,920 Other liabilities 6,812 6,975 Redeemable noncontrolling interest 7 7 Shareowners' equity 18,252 17,790 Total liabilities, redeemable noncontrolling interest and shareowners' equity $ 63,561 $ 64,586 Honeywell International Inc. Consolidated Statement of Cash Flows (Unaudited) (Dollars in millions) Three Months Ended March 31, 2021 2020 Cash flows from operating activities: Net income $ 1,448 $ 1,606 Less: Net income attributable to the noncontrolling interest 21 25 Net income attributable to Honeywell 1,427 1,581 Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities: Depreciation 171 153 Amortization 170 90 Gain on sale of non-strategic businesses and assets (90) Repositioning and other charges 141 62 Net payments for repositioning and other charges (195) (111) Pension and other postretirement income (293) (212) Pension and other postretirement benefit payments (14) (14) Stock compensation expense 77 44 Deferred income taxes 63 (58) Other (96) (179) Changes in assets and liabilities, net of the effects of acquisitions and divestitures: Accounts receivable 143 41 Inventories (158) (163) Other current assets (66) 166 Accounts payable 57 (54) Accrued liabilities (359) (407) Net cash provided by (used for) operating activities 978 939 Cash flows from investing activities: Expenditures for property, plant and equipment (221) (139) Proceeds from disposals of property, plant and equipment 14 7 Increase in investments (736) (648) Decrease in investments 612 843 Receipts (payments) from settlements of derivative contracts 140 287 Cash paid for acquisitions, net of cash acquired (1,303) Proceeds from sales of businesses, net of fees paid 190 Net cash provided by (used for) investing activities (1,304) 350 Cash flows from financing activities: Proceeds from issuance of commercial paper and other short-term borrowings 1,268 3,455 Payments of commercial paper and other short-term borrowings (1,266) (3,373) Proceeds from issuance of common stock 67 66 Proceeds from issuance of long-term debt 23 1,127 Payments of long-term debt (817) (1,125) Repurchases of common stock (822) (1,923) Cash dividends paid (640) (635) Other (30) (38) Net cash provided by (used for) financing activities (2,217) (2,446) Effect of foreign exchange rate changes on cash and cash equivalents (14) (189) Net increase (decrease) in cash and cash equivalents (2,557) (1,346) Cash and cash equivalents at beginning of period 14,275 9,067 Cash and cash equivalents at end of period $ 11,718 $ 7,721 Honeywell International Inc. Reconciliation of Organic Sales % Change (Unaudited) Three Months Ended March 31, 2021 Honeywell Reported sales % change % Less: Foreign currency translation 2% Less: Acquisitions, divestitures and other, net % Organic sales % change (2)% Aerospace Reported sales % change (22)% Less: Foreign currency translation % Less: Acquisitions, divestitures and other, net % Organic sales % change (22)% Honeywell Building Technologies Reported sales % change 6% Less: Foreign currency translation 4% Less: Acquisitions, divestitures and other, net % Organic sales % change 2% Performance Materials and Technologies Reported sales % change (2)% Less: Foreign currency translation 3% Less: Acquisitions, divestitures and other, net 1% Organic sales % change (6)% Safety and Productivity Solutions Reported sales % change 49% Less: Foreign currency translation 3% Less: Acquisitions, divestitures and other, net (1)% Organic sales % change 47% We define organic sales percent as the year over year change in reported sales relative to the comparable period, excluding the impact on sales from foreign currency translation and acquisitions, net of divestitures. We believe this measure is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. A quantitative reconciliation of reported sales percent change to organic sales percent change has not been provided for forward-looking measures of organic sales percent change because management cannot reliably predict or estimate, without unreasonable effort, the fluctuations in global currency markets that impact foreign currency translation, nor is it reasonable for management to predict the timing, occurrence and impact of acquisition and divestiture transactions, all of which could significantly impact our reported sales percent change. Honeywell International Inc. Reconciliation of Segment Profit to Operating Income and Calculation of Segment Profit and Operating Income Margins (Unaudited) (Dollars in millions) Three Months Ended March 31, Twelve Months Ended December 31, 2021 2020 2020 Segment profit $ 1,775 $ 1,848 $ 6,665 Stock compensation expense (1) (77) (44) (168) Repositioning, Other (2,3) (155) (74) (641) Pension and other postretirement service costs (4) (34) (39) (160) Operating income $ 1,509 $ 1,691 $ 5,696 Segment profit $ 1,775 $ 1,848 $ 6,665 Net sales $ 8,454 $ 8,463 $ 32,637 Segment profit margin % 21.0 % 21.8 % 20.4 % Operating income $ 1,509 $ 1,691 $ 5,696 Net sales $ 8,454 $ 8,463 $ 32,637 Operating income margin % 17.8 % 20.0 % 17.5 % (1) Included in Selling, general and administrative expenses. (2) Includes repositioning, asbestos, environmental expenses and equity income adjustment. (3) Included in Cost of products and services sold, Selling, general and administrative expenses and Other (income) expense. (4) Included in Cost of products and services sold and Selling, general and administrative expenses. We define segment profit as operating income, excluding stock compensation expense, pension and other postretirement service costs, and repositioning and other charges. We believe these measures are useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. A quantitative reconciliation of segment profit, on an overall Honeywell basis, to operating income has not been provided for all forward-looking measures of segment profit and segment margin included herewithin. Management cannot reliably predict or estimate, without unreasonable effort, the impact and timing on future operating results arising from items excluded from segment profit. The information that is unavailable to provide a quantitative reconciliation could have a significant impact on our reported financial results. To the extent quantitative information becomes available without unreasonable effort in the future, and closer to the period to which the forward-looking measures pertain, a reconciliation of segment profit to operating income will be included within future filings. Honeywell International Inc. Reconciliation of Earnings per Share to Adjusted Earnings per Share (Unaudited) Three Months Ended March 31, Twelve Months Ended December 31, 2021 2020 2020 Earnings per share of common stock - assuming dilution (1) $ 2.03 $ 2.21 $ 6.72 Pension mark-to-market expense (2) 0.04 Separation related tax adjustment (3) (0.26) Gain on sale of retail footwear business (4) (0.11) Garrett related adjustment (5) 0.60 Adjusted earnings per share of common stock - assuming dilution $ 1.92 $ 2.21 $ 7.10 (1) For the three months ended March 31, 2021 and 2020, adjusted earnings per share utilizes weighted average shares of approximately 704.5 million and 717.0 million. For the twelve months ended December 31, 2020, adjusted earnings per share utilizes weighted average shares of 711.2 million. (2) Pension mark-to-market expense uses a blended tax rate of 25% for 2020. (3) For the twelve months ended December 31, 2020, separation related tax adjustment of $186 million ($186 million net of tax) includes the favorable resolution of a foreign tax matter related to the spin-off transactions. (4) For the three months ended March 31, 2021, the adjustment was $72 million net of tax due to the gain on sale of the retail footwear business. (5) For the twelve months ended December 31, 2020, adjustment was $427 million net of tax due to the non-cash charges associated with the reduction in value of reimbursement receivables due from Garrett, net of proceeds from settlement of related hedging transactions. We believe adjusted earnings per share, excluding spin-off impact, is a measure that is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. For forward looking information, management cannot reliably predict or estimate, without unreasonable effort, the pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. We therefore do not include an estimate for the pension mark-to-market expense. Based on economic and industry conditions, future developments and other relevant factors, these assumptions are subject to change. Honeywell International Inc. Reconciliation of Cash Provided by Operating Activities to Adjusted Free Cash Flow and Calculation of Adjusted Free Cash Flow Conversion (Unaudited) (Dollars in millions) Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 Cash provided by operating activities $ 978 $ 939 Expenditures for property, plant and equipment (221) (139) Free cash flow 757 800 Separation cost payments Adjusted free cash flow $ 757 $ 800 Net income attributable to Honeywell 1,427 1,581 Separation related tax adjustment Pension mark-to-market Gain on sale of retail footwear business (1) (72) Adjusted net income attributable to Honeywell $ 1,355 $ 1,581 Cash provided by operating activities $ 978 $ 939 Net income (loss) attributable to Honeywell $ 1,427 $ 1,581 Operating cash flow conversion 69 % 59 % Adjusted free cash flow $ 757 $ 800 Adjusted net income attributable to Honeywell $ 1,355 $ 1,581 Adjusted free cash flow conversion % 56 % 51 % (1) The adjustment due to a gain on sale of the retail footwear business. We define free cash flow as cash provided by operating activities less cash expenditures for property, plant and equipment plus anticipated cash receipts from Garrett. We believe that free cash flow is a non-GAAP metric that is useful to investors and management as a measure of cash generated by operations that will be used to repay scheduled debt maturities and can be used to invest in future growth through new business development activities or acquisitions, pay dividends, repurchase stock or repay debt obligations prior to their maturities. This metric can also be used to evaluate our ability to generate cash flow from operations and the impact that this cash flow has on our liquidity. For forward looking information, we do not provide cash flow conversion guidance on a GAAP basis as management cannot reliably predict or estimate, without unreasonable effort, the pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. Honeywell International Inc. Reconciliation of Cash Provided by Operating Activities to Adjusted Free Cash Flow (Unaudited) TwelveMonths Ended December31, 2021(E) ($B) Cash provided by operating activities ~$5.8 - $6.1 Expenditures for property, plant and equipment ~(1) Garrett cash receipts 0.4 Free cash flow ~$5.2 - $5.5 We define free cash flow as cash provided by operating activities less cash expenditures for property, plant and equipment plus anticipated cash receipts from Garrett. We believe that free cash flow is a non-GAAP metric that is useful to investors and management as a measure of cash generated by operations that will be used to repay scheduled debt maturities and can be used to invest in future growth through new business development activities or acquisitions, pay dividends, repurchase stock or repay debt obligations prior to their maturities. This metric can also be used to evaluate our ability to generate cash flow from operations and the impact that this cash flow has on our liquidity. For forward looking information, we do not provide cash flow conversion guidance on a GAAP basis as management cannot reliably predict or estimate, without unreasonable effort, the pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. Honeywell International Inc. Reconciliation of Expected Earnings per Share to Adjusted Earnings per Share (Unaudited) Twelve Months Ended December 31, 2021(E) Earnings per share of common stock - assuming dilution (1) $7.86 - $8.11 Gain on sale of retail footwear business (2) (0.11) Adjusted earnings per share of common stock - assuming dilution $7.75 - $8.00 (1) For the twelve months ended December 31, 2021, expected earnings per share utilizes weighted average shares of approximately 705 million. (2) For the twelve months ended December 31, 2021, the adjustment was $72 million net of tax due to the gain on sale of the retail footwear business. We believe adjusted earnings per share is a measure that is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. For forward looking information, management cannot reliably predict or estimate any potential future one-time items, such as pension mark-to-market, without unreasonable effort. Pension mark-to-market expense is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. We therefore do not include an estimate for the pension mark-to-market expense. Based on economic and industry conditions, future developments and other relevant factors, these assumptions are subject to change. Contacts: Media Investor Relations Nina Krauss Mark Bendza (704) 627-6035 (704) 627-6200 [emailprotected] [emailprotected] SOURCE Honeywell Related Links http://www.honeywell.com",
Chinese News:
霍尼韦尔（纽交所代码：HON）近日发布了超出业绩指导预期的第一季度财务业绩，上调了全年销售额业绩指导以及调整后每股收益和现金流财务指导范围的中位数。“霍尼韦尔在2021年开局强劲，第一季度业绩超出预期。我们在业务涵盖的一些市场中看到了快速复苏的迹象，并且随时准备充分利用新出现的商机，”霍尼韦尔董事长兼首席执行官杜瑞哲表示：“第一季度报告销售额为85亿美元，与去年同期持平，内 生式销售额下降了2%。受益于仓储和工作流程解决方案以及个人防护设备业务保持两位数的增长，以及市场对霍尼韦尔建筑产品和服务、高性能 材料和互联软件的需求增长，我们第一季度的销售额超出业绩指导预期范围上限约2.5亿美元。本季度营运利润率下降220个基点至17.8%，部门利润率下降80个基点至21.0%，超出业绩指导预测范围上限10个基点。其中航空航天集团、智能建筑科技集团和安全与生产力解决方案集团连续第二个季度实现了部门利润率的增长，这得益于我们在2020年采取成本管理措施后精简了成本结构。第一季度每股收益为2.03美元，调整后每股收益1为1.92美元，同比下降13%，但比前述业绩指导预测范围上限高出9美分。本季度，我们继续利用强劲的资产负债表，并投资于高回报的业务机会 ，包括完成对质量管理软件领军企业Sparta Systems的收购并宣布收购建筑内部通信系统供应商Fiplex的多数股权。此外，我们回购了8亿美元的霍尼韦尔股票，并通过霍尼韦尔创投（Honeywell Ventures）对五个项目进行了战略投资。”杜瑞哲还表示：“展望整个2021年及未来，我们已经 做好了迎接经济复苏的准备。我们在生命科学等成长型市场的新产品越来越受欢迎，而受疫情影响最为严重的行业境况预计在全年内将持续改善 。我们拥有强大的技术组合，能帮助客户实现其环保和社会目标。实际上，霍尼韦尔公司约50%的新产品研发投资都以改善客户的环保表现和社会效益为出发点。4月初，我们在此前做出的2024年将碳足迹在2018年的基础上减少10%的承诺基础上，宣布承诺于2035年前实现所有业务运营和设 施的碳中和目标。霍尼韦尔对实现这一承诺充满信心，因为我们曾多次制定进取的可持续发展目标并超额完成，使公司温室气体排放强度自2004 年以来降低了90%以上。我们期待继续为我们的股东、客户和员工取得优秀的业绩。”基于公司第一季度的业绩以及管理层对全年的展望，霍尼韦 尔上调了全年销售额业绩指导以及调整后每股收益和现金流财务指导范围的中位数。全年内生式销售额增长预计在3%至5%的区间。调整后每股收 益2预计为7.75美元至8.00美元，较之前的业绩指导预期范围下限上调了15美分。运营现金流预计在58亿美元至61亿美元之间，自由现金流预计在52亿美元至55亿美元之间。公司全年业绩指导概要参见表1。第一季度业绩霍尼韦尔第一季度报告销售额与去年持平，内生式销售额下降2%。有关第一季度的具体财务数据请参阅原文表2和表3。航空航天集团第一季度内生式销售额下降22%，主要受到航班时间缩减带来的商用航空售后需求降低、商用原始设备销售疲软以及国际防务产品销量下降等因素持续影响，而美国防务及航天业务的增长部分抵消了上述不利影响。部门利润率上 涨110个基点至29.0%。利润率的增长由诸多因素决定，包括卓越的商业运营、成本管理和一次性收益等。智能建筑科技集团第一季度内生式销售 额上涨2%，主要得益于产品需求和建筑解决方案服务的增长。受服务和安防产品订单强劲增长的驱动，公司的订单同比实现了个位数中值的增长 速度。在卓越商业运营、生产力增长（不考虑通货膨胀）的推动下，部门利润率增加110个基点至22.5%。 特性材料和技术集团第一季度内生式销售额下降6%，主要由于过程控制部自动化项目的持续延迟、智慧能源业务量下降以及UOP技术许可和催化剂等需求的下降，而高性能材料部业务受氟产品和特殊材料的强劲需求的推动持续增长，部分抵消了上述不利影响。受到销售组合因素的影响，该集团部门利润率下降290个基点至18.5% ，而卓越的商业运营部分抵消了这一不利因素。安全与生产力解决方案集团第一季度内生式销售额增长47%，主要得益于仓储和工作流程解决方案、个人防护装备业务和生产力解决方案和服务业务取得两位数增长。受个人防护装备业务以及生产力解决方案和服务业务的强劲增长推动，订单 连续第六个季度实现两位数同比增长。未交货订单连续第三个季度保持在40亿美元以上。得益于销量的增加，部门利润率增加180个基点至14.3% 。
Japanese News:
米エネルギーWabash Valley Resourcesは4月12日、ブルー水素生産のためのCCS（炭素回収・貯留）プロジェクトで、重工業世界大手ハネウェルの石油精製子会社ハネウェルUOPを開発事業者に選定したと発表した。CCS（炭素回収・貯留）プロジェクトの規模は米国最大規模となる見込み。 ハネウェルUOPは今回、Wabash Valley ResourcesへCCS技術を提供し、米インディアナ州ウェストテレホートのガス化プラントで、ブルー水素を生成する。同プラントは、Wabash Valley Resourcesが2016年に購入し、現在、ブルー水素生産工場への転換を進めている。CCUにより、二酸化炭素を年間165万t削減できるという。米エネルギー省（DOE）からも助成対象に選定された。 ハネウェルUOPが持つガス改質技術「Ortloff CO2」は、合成ガスから二酸化炭素を80%取り除いた後に、圧力変動吸着法（PSA法）で残存合成ガスから純度の高い液体二酸化炭素を生成し、副生物として水素を得る。回収した二酸化炭素は液体状態のため、扱いが容易であり、運搬後、地下に貯留する。同社が持つ「Polybed PSA」技術では、エチレンやメタノールのオフ・ガスや、部分酸化合成ガスも原料にできる。また、酸性ガス除去や脱水・脱硫技術の「MOLSIV」の技術ライセンスも提供する。 米エネルギー省の水素計画では、燃料電池および水素エネルギー協会（FCHEA）の調査を基に、水素経済が、2030年までに年間1,400億米ドル（約15兆円）の市場規模となり、雇用70万人分を創出すると予測。2050年までには、年間7,500億米ドル（約81兆円）の市場規模となり、雇用340万人分を創出すると見込んでいる。 米国では3月16日に、ヴァレロ・エナジーと、ブラックロックの「グローバル・エナジー&パワー・インフラストラクチャーファンド3号」が、Navigator Energy Servicesと協働し、中西部に大規模なCCSプラントを建設することも発表済み。総長1,200マイル（約1,920km）のパイプラインを中西部のネブラスカ州、アイオワ州、サウスダコタ州、ミネソタ州、イリノイ州の5州に跨って敷設し、年間500万tの液体二酸化炭素排出量をイリノイ州南部の貯留施設に輸送。そこで貯留するというもの。協力企業が増えれば、処理能力を年間800万tにまで拡大することも検討している。操業開始は2024年を後半を予定。
Spanish News:
Honeywell (NYSE:HON) presentó el Viernes sus beneficios correspondientes al primer trimestre del año, cifras que superaron las previsiones de los analistas. Los ingresos, por su parte, se situaron por encima de lo esperado. La compañía presentó un beneficio por acción de $1,92 y una facturación de $8,45B. Los analistas encuestados por Investing.com esperaban un BPA de $1,8 y unos ingresos de $8,08B En lo que llevamos de año, la acción de Honeywell avanza un 7%, por debajo de lo esperado al Dow Jones, lo que representa una subida del 10%. Con sus cifras, Honeywell se une este mes a otras grandes del sector Bienes de capital. El pasado Miércoles, ASML ADR presentó un BPA para el primer trimestre del año de $3,86 y unos ingresos de $5,25B, frente a la previsión de BPA de $3,06 y de ingresos de $4,76B. Los beneficios de Lockheed Martin superaron las previsiones de los analistas lanzadas el pasado Martes, con un BPA para el primer trimestre de $6,56 y unos ingresos de $16,26B. Los analistas encuestados por Investing.com esperaban un BPA de $6,31 y unos ingresos de $16,38B. Manténgase al día de todas las cifras empresariales visitando nuestro Calendario de Resultados.
Greek News:
Η Honeywell ανακοίνωσε δύο σημαντικές συμφωνίες στον τομέα της αεροπορικής υποστήριξης και συντήρησης, διευρύνοντας τη διεθνή της παρουσία και ενισχύοντας τις δυνατότητες εξυπηρέτησης σε κρίσιμες αγορές. Συγκεκριμένα, η εταιρεία υπέγραψε πενταετή συμφωνία με την Abu Dhabi Aviation (ADA), ως αποκλειστικός παγκόσμιος διανομέας, με εξαίρεση των αγορών των ΗΠΑ και Ιαπωνίας, για τις μονάδες Multifunction Control Display Units (MCDU) που χρησιμοποιούνται σε ελικόπτερα Leonardo AW139. Η ADA, με πολυετή εμπειρία στη προμήθεια και υποστήριξη αεροπορικού εξοπλισμού στη Μέση Ανατολή, θα επιτρέψει στην Honeywell να εφαρμόσει προσαρμοσμένα επιχειρησιακά προγράμματα που συντελούν στη μείωση του κόστους και την επιβράδυνση της τεχνολογικής απαξίωσης των προϊόντων. Παράλληλα, η Honeywell προχώρησε στην υπογραφή δεκαετούς, μη αποκλειστικής συμφωνίας με την GKN Aerospace’s Fokker Landing Gear στην Ολλανδία, για την ίδρυση εξουσιοδοτημένου κέντρου συντήρησης των συστημάτων τροχών και φρένων του μαχητικού F-35. Η συνεργασία αυτή στοχεύει στην ενίσχυση της τεχνικής υποστήριξης εντός Ευρώπης και στην αποτελεσματικότερη εξυπηρέτηση των περιφερειακών χειριστών του αεροσκάφους, με ταυτόχρονη μείωση του λειτουργικού κόστους.
Question:
How is the company allocating capital (e.g., investments, share repurchases, dividends) based on its performance and market outlook from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | How is the company allocating capital (e.g., investments, share repurchases, dividends) based on its performance and market outlook from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Honeywell maintained margins through commercial excellence, productivity, and prior cost actions. These supported segment margin expansion in Aerospace, Building Technologies, and Safety and Productivity Solutions.
Financial Statement Evidence: None - cannot find margin report in 3 main financial statement |
HON_20210423 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:------------------------------------------------------------------------------|:----------------------|:-----------|:------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | March 31, 2021 | | December 31, 2020 | | | | | | | | |
| | (Dollars in millions) | | | | | | | | | | |
| ASSETS | | | | | | | | | | | |
| Current assets: | | | | | | | | | | | |
| Cash and cash equivalents | $ | 11,718 | | | $ | 14,275 | | | | | |
| Short-term investments | 942 | | | 945 | | | | | | | |
| Accounts receivable - net | 6,675 | | | 6,827 | | | | | | | |
| Inventories | 4,607 | | | 4,489 | | | | | | | |
| Other current assets | 1,645 | | | 1,639 | | | | | | | |
| Total current assets | 25,587 | | | 28,175 | | | | | | | |
| Investments and long-term receivables | 746 | | | 685 | | | | | | | |
| Property, plant and equipment - net | 5,547 | | | 5,570 | | | | | | | |
| Goodwill | 16,981 | | | 16,058 | | | | | | | |
| Other intangible assets - net | 3,799 | | | 3,560 | | | | | | | |
| Insurance recoveries for asbestos related liabilities | 347 | | | 366 | | | | | | | |
| Deferred income taxes | 762 | | | 760 | | | | | | | |
| Other assets | 9,792 | | | 9,412 | | | | | | | |
| Total assets | $ | 63,561 | | | $ | 64,586 | | | | | |
| LIABILITIES | | | | | | | | | | | |
| Current liabilities: | | | | | | | | | | | |
| Accounts payable | $ | 5,792 | | | $ | 5,750 | | | | | |
| Commercial paper and other short-term borrowings | 3,568 | | | 3,597 | | | | | | | |
| Current maturities of long-term debt | 1,635 | | | 2,445 | | | | | | | |
| Accrued liabilities | 6,955 | | | 7,405 | | | | | | | |
| Total current liabilities | 17,950 | | | 19,197 | | | | | | | |
| Long-term debt | 16,124 | | | 16,342 | | | | | | | |
| Deferred income taxes | 2,309 | | | 2,113 | | | | | | | |
| Postretirement benefit obligations other than pensions | 234 | | | 242 | | | | | | | |
| Asbestos-related liabilities | 1,873 | | | 1,920 | | | | | | | |
| Other liabilities | 6,812 | | | 6,975 | | | | | | | |
| Redeemable noncontrolling interest | 7 | | | 7 | | | | | | | |
| SHAREOWNERS’ EQUITY | | | | | | | | | | | |
| Capital - common stock issued | 958 | | | 958 | | | | | | | |
| - additional paid-in capital | 7,505 | | | 7,292 | | | | | | | |
| Common stock held in treasury, at cost | (27,975) | | | (27,229) | | | | | | | |
| Accumulated other comprehensive loss | (3,184) | | | (3,377) | | | | | | | |
| Retained earnings | 40,682 | | | 39,905 | | | | | | | |
| Total Honeywell shareowners’ equity | 17,986 | | | 17,549 | | | | | | | |
| Noncontrolling interest | 266 | | | 241 | | | | | | | |
| Total shareowners’ equity | 18,252 | | | 17,790 | | | | | | | |
| Total liabilities, redeemable noncontrolling interest and shareowners’ equity | $ | 63,561 | | | $ | 64,586 | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:------------------------------------------------------------------------------------------------------------|:-----------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | Three Months Ended March 31, | | | | | | | | | | |
| | 2021 | | 2020 | | | | | | | | |
| | (Dollars in millions) | | | | | | | | | | |
| Cash flows from operating activities: | | | | | | | | | | | |
| Net income | $ | 1,448 | | | $ | 1,606 | | | | | |
| Less: Net income attributable to the noncontrolling interest | 21 | | | 25 | | | | | | | |
| Net income attributable to Honeywell | 1,427 | | | 1,581 | | | | | | | |
| Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities: | | | | | | | | | | | |
| Depreciation | 171 | | | 153 | | | | | | | |
| Amortization | 170 | | | 90 | | | | | | | |
| Gain on sale of non-strategic businesses and assets | (90) | | | — | | | | | | | |
| Repositioning and other charges | 141 | | | 62 | | | | | | | |
| Net payments for repositioning and other charges | (195) | | | (111) | | | | | | | |
| Pension and other postretirement income | (293) | | | (212) | | | | | | | |
| Pension and other postretirement benefit payments | (14) | | | (14) | | | | | | | |
| Stock compensation expense | 77 | | | 44 | | | | | | | |
| Deferred income taxes | 63 | | | (58) | | | | | | | |
| | | | | | | | | | | | |
| Other | (96) | | | (179) | | | | | | | |
| Changes in assets and liabilities, net of the effects of acquisitions and divestitures: | | | | | | | | | | | |
| Accounts receivable | 143 | | | 41 | | | | | | | |
| Inventories | (158) | | | (163) | | | | | | | |
| Other current assets | (66) | | | 166 | | | | | | | |
| Accounts payable | 57 | | | (54) | | | | | | | |
| Accrued liabilities | (359) | | | (407) | | | | | | | |
| Net cash provided by (used for) operating activities | 978 | | | 939 | | | | | | | |
| Cash flows from investing activities: | | | | | | | | | | | |
| Expenditures for property, plant and equipment | (221) | | | (139) | | | | | | | |
| Proceeds from disposals of property, plant and equipment | 14 | | | 7 | | | | | | | |
| Increase in investments | (736) | | | (648) | | | | | | | |
| Decrease in investments | 612 | | | 843 | | | | | | | |
| Receipts (payments) from settlements of derivative contracts | 140 | | | 287 | | | | | | | |
| Cash paid for acquisitions, net of cash acquired | (1,303) | | | — | | | | | | | |
| Proceeds from sales of businesses, net of fees paid | 190 | | | — | | | | | | | |
| Net cash provided by (used for) investing activities | (1,304) | | | 350 | | | | | | | |
| Cash flows from financing activities: | | | | | | | | | | | |
| Proceeds from issuance of commercial paper and other short-term borrowings | 1,268 | | | 3,455 | | | | | | | |
| Payments of commercial paper and other short-term borrowings | (1,266) | | | (3,373) | | | | | | | |
| Proceeds from issuance of common stock | 67 | | | 66 | | | | | | | |
| Proceeds from issuance of long-term debt | 23 | | | 1,127 | | | | | | | |
| Payments of long-term debt | (817) | | | (1,125) | | | | | | | |
| Repurchases of common stock | (822) | | | (1,923) | | | | | | | |
| Cash dividends paid | (640) | | | (635) | | | | | | | |
| Other | (30) | | | (38) | | | | | | | |
| Net cash provided by (used for) financing activities | (2,217) | | | (2,446) | | | | | | | |
| Effect of foreign exchange rate changes on cash and cash equivalents | (14) | | | (189) | | | | | | | |
| Net increase (decrease) in cash and cash equivalents | (2,557) | | | (1,346) | | | | | | | |
| Cash and cash equivalents at beginning of period | 14,275 | | | 9,067 | | | | | | | |
| Cash and cash equivalents at end of period | $ | 11,718 | | | $ | 7,721 | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 |
|:-------------------------------------------------------------|:------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | |
| | Three Months Ended March 31, | | | | | | | | | | | | | | |
| | 2021 | | 2020 | | | | | | | | | | | | |
| | (Dollars in millions, except per share amounts) | | | | | | | | | | | | | | |
| Product sales | $ | 6,409 | | | $ | 6,305 | | | | | | | | | |
| Service sales | 2,045 | | | 2,158 | | | | | | | | | | | |
| Net sales | 8,454 | | | 8,463 | | | | | | | | | | | |
| Costs, expenses and other | | | | | | | | | | | | | | | |
| Cost of products sold | 4,551 | | | 4,374 | | | | | | | | | | | |
| Cost of services sold | 1,158 | | | 1,160 | | | | | | | | | | | |
| | 5,709 | | | 5,534 | | | | | | | | | | | |
| Selling, general and administrative expenses | 1,236 | | | 1,238 | | | | | | | | | | | |
| Other (income) expense | (442) | | | (317) | | | | | | | | | | | |
| Interest and other financial charges | 90 | | | 73 | | | | | | | | | | | |
| | 6,593 | | | 6,528 | | | | | | | | | | | |
| Income before taxes | 1,861 | | | 1,935 | | | | | | | | | | | |
| Tax expense (benefit) | 413 | | | 329 | | | | | | | | | | | |
| Net income | 1,448 | | | 1,606 | | | | | | | | | | | |
| Less: Net income attributable to the noncontrolling interest | 21 | | | 25 | | | | | | | | | | | |
| Net income attributable to Honeywell | $ | 1,427 | | | $ | 1,581 | | | | | | | | | |
| Earnings per share of common stock - basic | $ | 2.05 | | | $ | 2.23 | | | | | | | | | |
| Earnings per share of common stock - assuming dilution | $ | 2.03 | | | $ | 2.21 | | | | | | | | | |
---
English News:
"Honeywell Overdelivers On All Guided Metrics In The First Quarter; Raises Full-Year Sales And Adjusted EPS Guidance - CHARLOTTE, N.C., April 23, 2021 /PRNewswire/ --Honeywell (NYSE: HON) today announced results for the first quarter that exceeded the company's guidance. The company also raised its full-year sales guidance and raised the midpoint of its adjusted earnings per share and cash flow guidance. \"Honeywell delivered a strong start to 2021 with first-quarter results that exceeded our expectations. We are seeing promising signs of a rapid recovery in some of our markets, and we are poised to capitalize on new business opportunities as they arise,\" said Darius Adamczyk, chairman and chief executive officer of Honeywell. \"We reported first-quarter sales of $8.5 billion, flat year over year, or a decline of 2% on an organic basis. Our first-quarter sales exceeded the high end of our guidance range by approximately $250 million driven by continued double-digit growth in our Warehouse and Workflow Solutions and personal protective equipment businesses as well as demand for our building products and services, advanced materials, and connected software. Operating margin contracted 220 basis points for the quarter to 17.8%, with segment margin contracting 80 basis points to 21.0%, which exceeded the high end of our guidance by 10 basis points. We delivered segment margin expansion in Aerospace, Honeywell Building Technologies, and Safety and Productivity Solutions for the second consecutive quarter, supported by our streamlined cost base following the cost actions we took in 2020. We delivered earnings per share of $2.03, with adjusted earnings per share1 of $1.92, down 13% year over year but 9 cents above the high end of the previously provided guidance range. We continued to take advantage of our strong balance sheet, and deployed capital to high-return opportunities in the quarter, including closing our acquisition of quality management software leader Sparta Systems and announcing the acquisition of a majority stake in Fiplex, a leading provider of in-building communications systems. In addition, we repurchased $0.8 billion in Honeywell shares and made five strategic investments through Honeywell Ventures.\" Adamczyk continued, \"As we look to the rest of 2021 and beyond, we are well positioned for the recovery to come. Our new offerings in growing markets like life sciences are gaining traction and the industries that were hardest hit by the pandemic are expected to improve throughout the year. We have a robust portfolio of technologies that help our customers meet their environmental and social goals. In fact, about half of Honeywell's new product introduction research and development investment is directed toward products that improve environmental and social outcomes for customers. Earlier this month, we pledged to become carbon neutral in our operations and facilities by 2035, building on our commitment to reduce our carbon footprint in 2024 by 10% from 2018 levels. Our confidence in this commitment is underpinned by our history of setting aggressive environmental targets and beating them, which has enabled us to reduce our greenhouse gas intensity by more than 90% since 2004. We look forward to continuing to deliver outstanding results for our shareowners, customers, and employees.\" As a result of the company's first-quarter performance and management's outlook for the remainder of the year, Honeywell raised its full-year sales guidance and raised the midpoint of its adjusted earnings per share and cash flow guidance. Full-year organic sales growth is now expected to be in the range of 3% to 5%. Adjusted earnings per share2 is expected to be $7.75 to $8.00, up 15 cents from the low end of the prior guidance range. Operating cash flow is now expected to be in the range of $5.8 billion to $6.1 billion and free cash flow is now expected to be in the range of $5.2 billion to $5.5 billion. A summary of the company's full-year guidance changes can be found in Table 1. First-Quarter PerformanceHoneywellsales for the first quarter were flat on a reported basis and down 2% on an organic basis. The first-quarter financial results can be found in Tables 2 and 3. Aerospacesales for the first quarter were down 22% on an organic basis driven by lower commercial aftermarket demand due to the ongoing impact of reduced flight hours, softness in commercial original equipment, and lower volumes in international defense, partially offset by growth in U.S. defense and space. Segment margin expanded 110 basis points to 29.0%. Margin performance was due to a number of factors, including commercial excellence, cost management, and a one-time benefit. Honeywell Building Technologiessales for the first quarter were up 2% on an organic basis driven by demand for Products and growth in Building Solutions services. Orders were up mid-single digits year over year, driven by strong bookings for services and security products. Segment margin expanded 200 basis points to 22.5% driven by commercial excellence and productivity, net of inflation. Performance Materials and Technologies sales for the first quarter were down 6% on an organic basis driven by continued delays in Process Solutions automation projects, lower volumes in smart energy, and lower demand for licensing and catalysts in UOP, partially offset by continued growth in Advanced Materials driven by strong demand for fluorine products and specialty materials. Segment margin contracted 290 basis points to 18.5% driven by the impact of sales mix, partially offset by commercial excellence. Safety and Productivity Solutionssales for the first quarter were up 47% on an organic basis driven by double-digit Warehouse and Workflow Solutions, personal protective equipment, and Productivity Solutions and Services growth. Orders were up double digits year over year for the sixth straight quarter, led by continued demand for personal protective equipment and Productivity Solutions and Services, and backlog remained above $4 billion for the third quarter in a row. Segment margin expanded 180 basis points to 14.3% driven by the impact of higher sales volumes. Conference Call DetailsHoneywell will discuss its first-quarter results and updated full-year guidance during an investor conference call starting at 8:30 a.m. Eastern Daylight Time today. To participate on the conference call, please dial (800) 263-0877 (domestic) or (646) 828-8143 (international) approximately ten minutes before the 8:30 a.m. EDT start.Please mention to the operator that you are dialing in for Honeywell's first-quarter 2021 earnings call or provide the conference code HON1Q21. The live webcast of the investor call as well as related presentation materials will be available through the Investor Relations section of the company's website (www.honeywell.com/investor). Investors can hear a replay of the conference call from 12:30 p.m. EDT April 23 until 12:30 p.m. EDT April 30 by dialing (888) 203-1112 (domestic) or (719) 457-0820 (international). The access code is 8053208. TABLE 1: FULL-YEAR 2021 GUIDANCE4 Previous Guidance Current Guidance Sales $33.4B - $34.4B $34.0B - $34.8B Organic Growth 1% - 4% 3% - 5% Segment Margin 20.7% - 21.1% 20.7% - 21.1% Expansion Up 30 - 70 bps Up 30 - 70 bps Adjusted Earnings Per Share2 $7.60 - $8.00 $7.75 - $8.00 Adjusted Earnings Growth3 7% - 13% 9% - 13% Operating Cash Flow $5.7B - $6.1B $5.8B - $6.1B Free Cash Flow $5.1B - $5.5B $5.2B - $5.5B TABLE 2: SUMMARY OF HONEYWELL FINANCIAL RESULTS 1Q 2021 1Q 2020 Change Sales 8,454 8,463 % Organic Growth (2%) Segment Margin 21.0% 21.8% -80 bps Operating Income Margin 17.8% 20.0% -220 bps Earnings Per Share $2.03 $2.21 (8%) Adjusted Earnings Per Share1 $1.92 $2.21 (13%) Cash Flow from Operations 978 939 4% Operating Cash Flow Conversion 69% 59% 10% Free Cash Flow 757 800 (5%) Adjusted Free Cash Flow Conversion5 56% 51% 5% TABLE 3: SUMMARY OF SEGMENT FINANCIAL RESULTS AEROSPACE 1Q 2021 1Q 2020 Change Sales 2,632 3,361 (22%) Organic Growth (22%) Segment Profit 762 937 (19%) Segment Margin 29.0% 27.9% 110 bps HONEYWELL BUILDING TECHNOLOGIES Sales 1,358 1,281 6% Organic Growth 2% Segment Profit 305 262 16% Segment Margin 22.5% 20.5% 200 bps PERFORMANCE MATERIALS AND TECHNOLOGIES Sales 2,346 2,397 (2%) Organic Growth (6%) Segment Profit 434 512 (15%) Segment Margin 18.5% 21.4% -290 bps SAFETY AND PRODUCTIVITY SOLUTIONS Sales 2,118 1,424 49% Organic Growth 47% Segment Profit 303 178 70% Segment Margin 14.3% 12.5% 180 bps 1Adjusted EPS and adjusted EPS V% exclude the $0.11 impact of the sale of the retail footwear business 2Adjusted EPS guidance excludes the $0.11 impact of the sale of the retail footwear business and any potential future one-time items that we cannot reliably predict or estimate such as pension mark-to-market 3Adjusted EPS V% guidance excludes the $0.11 impact of the sale of the retail footwear business, any potential future one-time items that we cannot reliably predict or estimate such as pension mark-to-market, 4Q20 pension mark-to-market, 2Q20 favorable resolution of a foreign tax matter related to the spin-off transactions, and non-cash charges associated with the reduction in value of reimbursement receivables due from Garrett Motion Inc. (Garrett), net of proceeds from the settlement of related hedging transactions 4As discussed in the notes to the attached reconciliations, we do not provide guidance for margin or EPS on a GAAP basis 5Adjusted free cash flow conversion excludes the gain on sale of the retail footwear business Honeywell (www.honeywell.com) is a Fortune 100 technology company that delivers industry specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help everything from aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom. This release contains certain statements that may be deemed \"forward-looking statements\" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, technological, and COVID-19 public health factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, and other developments, including the potential impact of the COVID-19 pandemic, and business decisions may differ from those envisaged by such forward-looking statements. Any forward-looking plans described herein are not final and may be modified or abandoned at any time. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission. This release contains financial measures presented on a non-GAAP basis. Honeywell's non-GAAP financial measures used in this release are as follows: segment profit, on an overall Honeywell basis, a measure by which we assess operating performance, which we define as operating income adjusted for certain items as presented in the Appendix; segment margin, on an overall Honeywell basis, which we define as segment profit divided by sales; organic sales growth, which we define as sales growth less the impacts from foreign currency translation, and acquisitions and divestitures for the first 12 months following transaction date; free cash flow, which we define as cash flow from operations less capital expenditures plus anticipated cash receipts from Garrett, if and as noted in the release; adjusted free cash flow conversion, which we define as free cash flow divided by net income attributable to Honeywell, excluding the gain on sale of the Retail footwear business, if and as noted in the release; and adjusted earnings per share, which we adjust to exclude pension mark-to-market, the favorable resolution of a foreign tax matter related to the spin-off transactions, non-cash charges associated with the reduction in value of reimbursement receivables due from Garrett, net of proceeds from settlement of related hedging transactions, and the gain on sale of the Retail footwear business, if and as noted in the release. Management believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. These metrics should be considered in addition to, and not as replacements for, the most comparable GAAP measure. Refer to the Appendix attached to this release for reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures. Honeywell International Inc. Consolidated Statement of Operations (Unaudited) (Dollars in millions, except per share amounts) Three Months Ended March 31, 2021 2020 Product sales $ 6,409 $ 6,305 Service sales 2,045 2,158 Net sales 8,454 8,463 Costs, expenses and other Cost of products sold(1) 4,551 4,374 Cost of services sold(1) 1,158 1,160 5,709 5,534 Selling, general and administrative expenses(1) 1,236 1,238 Other (income) expense (442) (317) Interest and other financial charges 90 73 6,593 6,528 Income before taxes 1,861 1,935 Tax expense (benefit) 413 329 Net income 1,448 1,606 Less: Net income attributable to the noncontrolling interest 21 25 Net income attributable to Honeywell $ 1,427 $ 1,581 Earnings per share of common stock - basic $ 2.05 $ 2.23 Earnings per share of common stock - assuming dilution $ 2.03 $ 2.21 Weighted average number of shares outstanding - basic 696.2 709.6 Weighted average number of shares outstanding - assuming dilution 704.5 717.0 (1) Cost of products and services sold and Selling, general and administrative expenses include amounts for repositioning and other charges, the service cost component of pension and other postretirement (income) expense, and stock compensation expense. Honeywell International Inc. Segment Data (Unaudited) (Dollars in millions) Three Months Ended March 31, Net Sales 2021 2020 Aerospace $ 2,632 $ 3,361 Honeywell Building Technologies 1,358 1,281 Performance Materials and Technologies 2,346 2,397 Safety and Productivity Solutions 2,118 1,424 Total $ 8,454 $ 8,463 Reconciliation of Segment Profit to Income Before Taxes Three Months Ended March 31, Segment Profit 2021 2020 Aerospace $ 762 $ 937 Honeywell Building Technologies 305 262 Performance Materials and Technologies 434 512 Safety and Productivity Solutions 303 178 Corporate (29) (41) Total segment profit 1,775 1,848 Interest and other financial charges (90) (73) Stock compensation expense (1) (77) (44) Pension ongoing income (2) 276 198 Other postretirement income (2) 17 13 Repositioning and other charges (3,4) (141) (62) Other (5) 101 55 Income before taxes $ 1,861 $ 1,935 (1) Amounts included in Selling, general and administrative expenses. (2) Amounts included in Cost of products and services sold and Selling, general and administrative expenses (service costs) and Other income/expense (non-service cost components). (3) Amounts included in Cost of products and services sold, Selling, general and administrative expenses, and Other (income) expense. (4) Includes repositioning, asbestos, and environmental expenses. (5) Amounts include the other components of Other (income) expense not included within other categories in this reconciliation. Equity income of affiliated companies is included in segment profit. Honeywell International Inc. Consolidated Balance Sheet (Unaudited) (Dollars in millions) March 31, 2021 December 31, 2020 ASSETS Current assets: Cash and cash equivalents $ 11,718 $ 14,275 Short-term investments 942 945 Accounts receivable - net 6,675 6,827 Inventories 4,607 4,489 Other current assets 1,645 1,639 Total current assets 25,587 28,175 Investments and long-term receivables 746 685 Property, plant and equipment - net 5,547 5,570 Goodwill 16,981 16,058 Other intangible assets - net 3,799 3,560 Insurance recoveries for asbestos related liabilities 347 366 Deferred income taxes 762 760 Other assets 9,792 9,412 Total assets $ 63,561 $ 64,586 LIABILITIES Current liabilities: Accounts payable $ 5,792 $ 5,750 Commercial paper and other short-term borrowings 3,568 3,597 Current maturities of long-term debt 1,635 2,445 Accrued liabilities 6,955 7,405 Total current liabilities 17,950 19,197 Long-term debt 16,124 16,342 Deferred income taxes 2,309 2,113 Postretirement benefit obligations other than pensions 234 242 Asbestos-related liabilities 1,873 1,920 Other liabilities 6,812 6,975 Redeemable noncontrolling interest 7 7 Shareowners' equity 18,252 17,790 Total liabilities, redeemable noncontrolling interest and shareowners' equity $ 63,561 $ 64,586 Honeywell International Inc. Consolidated Statement of Cash Flows (Unaudited) (Dollars in millions) Three Months Ended March 31, 2021 2020 Cash flows from operating activities: Net income $ 1,448 $ 1,606 Less: Net income attributable to the noncontrolling interest 21 25 Net income attributable to Honeywell 1,427 1,581 Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities: Depreciation 171 153 Amortization 170 90 Gain on sale of non-strategic businesses and assets (90) Repositioning and other charges 141 62 Net payments for repositioning and other charges (195) (111) Pension and other postretirement income (293) (212) Pension and other postretirement benefit payments (14) (14) Stock compensation expense 77 44 Deferred income taxes 63 (58) Other (96) (179) Changes in assets and liabilities, net of the effects of acquisitions and divestitures: Accounts receivable 143 41 Inventories (158) (163) Other current assets (66) 166 Accounts payable 57 (54) Accrued liabilities (359) (407) Net cash provided by (used for) operating activities 978 939 Cash flows from investing activities: Expenditures for property, plant and equipment (221) (139) Proceeds from disposals of property, plant and equipment 14 7 Increase in investments (736) (648) Decrease in investments 612 843 Receipts (payments) from settlements of derivative contracts 140 287 Cash paid for acquisitions, net of cash acquired (1,303) Proceeds from sales of businesses, net of fees paid 190 Net cash provided by (used for) investing activities (1,304) 350 Cash flows from financing activities: Proceeds from issuance of commercial paper and other short-term borrowings 1,268 3,455 Payments of commercial paper and other short-term borrowings (1,266) (3,373) Proceeds from issuance of common stock 67 66 Proceeds from issuance of long-term debt 23 1,127 Payments of long-term debt (817) (1,125) Repurchases of common stock (822) (1,923) Cash dividends paid (640) (635) Other (30) (38) Net cash provided by (used for) financing activities (2,217) (2,446) Effect of foreign exchange rate changes on cash and cash equivalents (14) (189) Net increase (decrease) in cash and cash equivalents (2,557) (1,346) Cash and cash equivalents at beginning of period 14,275 9,067 Cash and cash equivalents at end of period $ 11,718 $ 7,721 Honeywell International Inc. Reconciliation of Organic Sales % Change (Unaudited) Three Months Ended March 31, 2021 Honeywell Reported sales % change % Less: Foreign currency translation 2% Less: Acquisitions, divestitures and other, net % Organic sales % change (2)% Aerospace Reported sales % change (22)% Less: Foreign currency translation % Less: Acquisitions, divestitures and other, net % Organic sales % change (22)% Honeywell Building Technologies Reported sales % change 6% Less: Foreign currency translation 4% Less: Acquisitions, divestitures and other, net % Organic sales % change 2% Performance Materials and Technologies Reported sales % change (2)% Less: Foreign currency translation 3% Less: Acquisitions, divestitures and other, net 1% Organic sales % change (6)% Safety and Productivity Solutions Reported sales % change 49% Less: Foreign currency translation 3% Less: Acquisitions, divestitures and other, net (1)% Organic sales % change 47% We define organic sales percent as the year over year change in reported sales relative to the comparable period, excluding the impact on sales from foreign currency translation and acquisitions, net of divestitures. We believe this measure is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. A quantitative reconciliation of reported sales percent change to organic sales percent change has not been provided for forward-looking measures of organic sales percent change because management cannot reliably predict or estimate, without unreasonable effort, the fluctuations in global currency markets that impact foreign currency translation, nor is it reasonable for management to predict the timing, occurrence and impact of acquisition and divestiture transactions, all of which could significantly impact our reported sales percent change. Honeywell International Inc. Reconciliation of Segment Profit to Operating Income and Calculation of Segment Profit and Operating Income Margins (Unaudited) (Dollars in millions) Three Months Ended March 31, Twelve Months Ended December 31, 2021 2020 2020 Segment profit $ 1,775 $ 1,848 $ 6,665 Stock compensation expense (1) (77) (44) (168) Repositioning, Other (2,3) (155) (74) (641) Pension and other postretirement service costs (4) (34) (39) (160) Operating income $ 1,509 $ 1,691 $ 5,696 Segment profit $ 1,775 $ 1,848 $ 6,665 Net sales $ 8,454 $ 8,463 $ 32,637 Segment profit margin % 21.0 % 21.8 % 20.4 % Operating income $ 1,509 $ 1,691 $ 5,696 Net sales $ 8,454 $ 8,463 $ 32,637 Operating income margin % 17.8 % 20.0 % 17.5 % (1) Included in Selling, general and administrative expenses. (2) Includes repositioning, asbestos, environmental expenses and equity income adjustment. (3) Included in Cost of products and services sold, Selling, general and administrative expenses and Other (income) expense. (4) Included in Cost of products and services sold and Selling, general and administrative expenses. We define segment profit as operating income, excluding stock compensation expense, pension and other postretirement service costs, and repositioning and other charges. We believe these measures are useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. A quantitative reconciliation of segment profit, on an overall Honeywell basis, to operating income has not been provided for all forward-looking measures of segment profit and segment margin included herewithin. Management cannot reliably predict or estimate, without unreasonable effort, the impact and timing on future operating results arising from items excluded from segment profit. The information that is unavailable to provide a quantitative reconciliation could have a significant impact on our reported financial results. To the extent quantitative information becomes available without unreasonable effort in the future, and closer to the period to which the forward-looking measures pertain, a reconciliation of segment profit to operating income will be included within future filings. Honeywell International Inc. Reconciliation of Earnings per Share to Adjusted Earnings per Share (Unaudited) Three Months Ended March 31, Twelve Months Ended December 31, 2021 2020 2020 Earnings per share of common stock - assuming dilution (1) $ 2.03 $ 2.21 $ 6.72 Pension mark-to-market expense (2) 0.04 Separation related tax adjustment (3) (0.26) Gain on sale of retail footwear business (4) (0.11) Garrett related adjustment (5) 0.60 Adjusted earnings per share of common stock - assuming dilution $ 1.92 $ 2.21 $ 7.10 (1) For the three months ended March 31, 2021 and 2020, adjusted earnings per share utilizes weighted average shares of approximately 704.5 million and 717.0 million. For the twelve months ended December 31, 2020, adjusted earnings per share utilizes weighted average shares of 711.2 million. (2) Pension mark-to-market expense uses a blended tax rate of 25% for 2020. (3) For the twelve months ended December 31, 2020, separation related tax adjustment of $186 million ($186 million net of tax) includes the favorable resolution of a foreign tax matter related to the spin-off transactions. (4) For the three months ended March 31, 2021, the adjustment was $72 million net of tax due to the gain on sale of the retail footwear business. (5) For the twelve months ended December 31, 2020, adjustment was $427 million net of tax due to the non-cash charges associated with the reduction in value of reimbursement receivables due from Garrett, net of proceeds from settlement of related hedging transactions. We believe adjusted earnings per share, excluding spin-off impact, is a measure that is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. For forward looking information, management cannot reliably predict or estimate, without unreasonable effort, the pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. We therefore do not include an estimate for the pension mark-to-market expense. Based on economic and industry conditions, future developments and other relevant factors, these assumptions are subject to change. Honeywell International Inc. Reconciliation of Cash Provided by Operating Activities to Adjusted Free Cash Flow and Calculation of Adjusted Free Cash Flow Conversion (Unaudited) (Dollars in millions) Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 Cash provided by operating activities $ 978 $ 939 Expenditures for property, plant and equipment (221) (139) Free cash flow 757 800 Separation cost payments Adjusted free cash flow $ 757 $ 800 Net income attributable to Honeywell 1,427 1,581 Separation related tax adjustment Pension mark-to-market Gain on sale of retail footwear business (1) (72) Adjusted net income attributable to Honeywell $ 1,355 $ 1,581 Cash provided by operating activities $ 978 $ 939 Net income (loss) attributable to Honeywell $ 1,427 $ 1,581 Operating cash flow conversion 69 % 59 % Adjusted free cash flow $ 757 $ 800 Adjusted net income attributable to Honeywell $ 1,355 $ 1,581 Adjusted free cash flow conversion % 56 % 51 % (1) The adjustment due to a gain on sale of the retail footwear business. We define free cash flow as cash provided by operating activities less cash expenditures for property, plant and equipment plus anticipated cash receipts from Garrett. We believe that free cash flow is a non-GAAP metric that is useful to investors and management as a measure of cash generated by operations that will be used to repay scheduled debt maturities and can be used to invest in future growth through new business development activities or acquisitions, pay dividends, repurchase stock or repay debt obligations prior to their maturities. This metric can also be used to evaluate our ability to generate cash flow from operations and the impact that this cash flow has on our liquidity. For forward looking information, we do not provide cash flow conversion guidance on a GAAP basis as management cannot reliably predict or estimate, without unreasonable effort, the pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. Honeywell International Inc. Reconciliation of Cash Provided by Operating Activities to Adjusted Free Cash Flow (Unaudited) TwelveMonths Ended December31, 2021(E) ($B) Cash provided by operating activities ~$5.8 - $6.1 Expenditures for property, plant and equipment ~(1) Garrett cash receipts 0.4 Free cash flow ~$5.2 - $5.5 We define free cash flow as cash provided by operating activities less cash expenditures for property, plant and equipment plus anticipated cash receipts from Garrett. We believe that free cash flow is a non-GAAP metric that is useful to investors and management as a measure of cash generated by operations that will be used to repay scheduled debt maturities and can be used to invest in future growth through new business development activities or acquisitions, pay dividends, repurchase stock or repay debt obligations prior to their maturities. This metric can also be used to evaluate our ability to generate cash flow from operations and the impact that this cash flow has on our liquidity. For forward looking information, we do not provide cash flow conversion guidance on a GAAP basis as management cannot reliably predict or estimate, without unreasonable effort, the pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. Honeywell International Inc. Reconciliation of Expected Earnings per Share to Adjusted Earnings per Share (Unaudited) Twelve Months Ended December 31, 2021(E) Earnings per share of common stock - assuming dilution (1) $7.86 - $8.11 Gain on sale of retail footwear business (2) (0.11) Adjusted earnings per share of common stock - assuming dilution $7.75 - $8.00 (1) For the twelve months ended December 31, 2021, expected earnings per share utilizes weighted average shares of approximately 705 million. (2) For the twelve months ended December 31, 2021, the adjustment was $72 million net of tax due to the gain on sale of the retail footwear business. We believe adjusted earnings per share is a measure that is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. For forward looking information, management cannot reliably predict or estimate any potential future one-time items, such as pension mark-to-market, without unreasonable effort. Pension mark-to-market expense is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. We therefore do not include an estimate for the pension mark-to-market expense. Based on economic and industry conditions, future developments and other relevant factors, these assumptions are subject to change. Contacts: Media Investor Relations Nina Krauss Mark Bendza (704) 627-6035 (704) 627-6200 [emailprotected] [emailprotected] SOURCE Honeywell Related Links http://www.honeywell.com",
Chinese News:
霍尼韦尔（纽交所代码：HON）近日发布了超出业绩指导预期的第一季度财务业绩，上调了全年销售额业绩指导以及调整后每股收益和现金流财务指导范围的中位数。“霍尼韦尔在2021年开局强劲，第一季度业绩超出预期。我们在业务涵盖的一些市场中看到了快速复苏的迹象，并且随时准备充分利用新出现的商机，”霍尼韦尔董事长兼首席执行官杜瑞哲表示：“第一季度报告销售额为85亿美元，与去年同期持平，内 生式销售额下降了2%。受益于仓储和工作流程解决方案以及个人防护设备业务保持两位数的增长，以及市场对霍尼韦尔建筑产品和服务、高性能 材料和互联软件的需求增长，我们第一季度的销售额超出业绩指导预期范围上限约2.5亿美元。本季度营运利润率下降220个基点至17.8%，部门利润率下降80个基点至21.0%，超出业绩指导预测范围上限10个基点。其中航空航天集团、智能建筑科技集团和安全与生产力解决方案集团连续第二个季度实现了部门利润率的增长，这得益于我们在2020年采取成本管理措施后精简了成本结构。第一季度每股收益为2.03美元，调整后每股收益1为1.92美元，同比下降13%，但比前述业绩指导预测范围上限高出9美分。本季度，我们继续利用强劲的资产负债表，并投资于高回报的业务机会 ，包括完成对质量管理软件领军企业Sparta Systems的收购并宣布收购建筑内部通信系统供应商Fiplex的多数股权。此外，我们回购了8亿美元的霍尼韦尔股票，并通过霍尼韦尔创投（Honeywell Ventures）对五个项目进行了战略投资。”杜瑞哲还表示：“展望整个2021年及未来，我们已经 做好了迎接经济复苏的准备。我们在生命科学等成长型市场的新产品越来越受欢迎，而受疫情影响最为严重的行业境况预计在全年内将持续改善 。我们拥有强大的技术组合，能帮助客户实现其环保和社会目标。实际上，霍尼韦尔公司约50%的新产品研发投资都以改善客户的环保表现和社会效益为出发点。4月初，我们在此前做出的2024年将碳足迹在2018年的基础上减少10%的承诺基础上，宣布承诺于2035年前实现所有业务运营和设 施的碳中和目标。霍尼韦尔对实现这一承诺充满信心，因为我们曾多次制定进取的可持续发展目标并超额完成，使公司温室气体排放强度自2004 年以来降低了90%以上。我们期待继续为我们的股东、客户和员工取得优秀的业绩。”基于公司第一季度的业绩以及管理层对全年的展望，霍尼韦 尔上调了全年销售额业绩指导以及调整后每股收益和现金流财务指导范围的中位数。全年内生式销售额增长预计在3%至5%的区间。调整后每股收 益2预计为7.75美元至8.00美元，较之前的业绩指导预期范围下限上调了15美分。运营现金流预计在58亿美元至61亿美元之间，自由现金流预计在52亿美元至55亿美元之间。公司全年业绩指导概要参见表1。第一季度业绩霍尼韦尔第一季度报告销售额与去年持平，内生式销售额下降2%。有关第一季度的具体财务数据请参阅原文表2和表3。航空航天集团第一季度内生式销售额下降22%，主要受到航班时间缩减带来的商用航空售后需求降低、商用原始设备销售疲软以及国际防务产品销量下降等因素持续影响，而美国防务及航天业务的增长部分抵消了上述不利影响。部门利润率上 涨110个基点至29.0%。利润率的增长由诸多因素决定，包括卓越的商业运营、成本管理和一次性收益等。智能建筑科技集团第一季度内生式销售 额上涨2%，主要得益于产品需求和建筑解决方案服务的增长。受服务和安防产品订单强劲增长的驱动，公司的订单同比实现了个位数中值的增长 速度。在卓越商业运营、生产力增长（不考虑通货膨胀）的推动下，部门利润率增加110个基点至22.5%。 特性材料和技术集团第一季度内生式销售额下降6%，主要由于过程控制部自动化项目的持续延迟、智慧能源业务量下降以及UOP技术许可和催化剂等需求的下降，而高性能材料部业务受氟产品和特殊材料的强劲需求的推动持续增长，部分抵消了上述不利影响。受到销售组合因素的影响，该集团部门利润率下降290个基点至18.5% ，而卓越的商业运营部分抵消了这一不利因素。安全与生产力解决方案集团第一季度内生式销售额增长47%，主要得益于仓储和工作流程解决方案、个人防护装备业务和生产力解决方案和服务业务取得两位数增长。受个人防护装备业务以及生产力解决方案和服务业务的强劲增长推动，订单 连续第六个季度实现两位数同比增长。未交货订单连续第三个季度保持在40亿美元以上。得益于销量的增加，部门利润率增加180个基点至14.3% 。
Japanese News:
米エネルギーWabash Valley Resourcesは4月12日、ブルー水素生産のためのCCS（炭素回収・貯留）プロジェクトで、重工業世界大手ハネウェルの石油精製子会社ハネウェルUOPを開発事業者に選定したと発表した。CCS（炭素回収・貯留）プロジェクトの規模は米国最大規模となる見込み。 ハネウェルUOPは今回、Wabash Valley ResourcesへCCS技術を提供し、米インディアナ州ウェストテレホートのガス化プラントで、ブルー水素を生成する。同プラントは、Wabash Valley Resourcesが2016年に購入し、現在、ブルー水素生産工場への転換を進めている。CCUにより、二酸化炭素を年間165万t削減できるという。米エネルギー省（DOE）からも助成対象に選定された。 ハネウェルUOPが持つガス改質技術「Ortloff CO2」は、合成ガスから二酸化炭素を80%取り除いた後に、圧力変動吸着法（PSA法）で残存合成ガスから純度の高い液体二酸化炭素を生成し、副生物として水素を得る。回収した二酸化炭素は液体状態のため、扱いが容易であり、運搬後、地下に貯留する。同社が持つ「Polybed PSA」技術では、エチレンやメタノールのオフ・ガスや、部分酸化合成ガスも原料にできる。また、酸性ガス除去や脱水・脱硫技術の「MOLSIV」の技術ライセンスも提供する。 米エネルギー省の水素計画では、燃料電池および水素エネルギー協会（FCHEA）の調査を基に、水素経済が、2030年までに年間1,400億米ドル（約15兆円）の市場規模となり、雇用70万人分を創出すると予測。2050年までには、年間7,500億米ドル（約81兆円）の市場規模となり、雇用340万人分を創出すると見込んでいる。 米国では3月16日に、ヴァレロ・エナジーと、ブラックロックの「グローバル・エナジー&パワー・インフラストラクチャーファンド3号」が、Navigator Energy Servicesと協働し、中西部に大規模なCCSプラントを建設することも発表済み。総長1,200マイル（約1,920km）のパイプラインを中西部のネブラスカ州、アイオワ州、サウスダコタ州、ミネソタ州、イリノイ州の5州に跨って敷設し、年間500万tの液体二酸化炭素排出量をイリノイ州南部の貯留施設に輸送。そこで貯留するというもの。協力企業が増えれば、処理能力を年間800万tにまで拡大することも検討している。操業開始は2024年を後半を予定。
Spanish News:
Honeywell (NYSE:HON) presentó el Viernes sus beneficios correspondientes al primer trimestre del año, cifras que superaron las previsiones de los analistas. Los ingresos, por su parte, se situaron por encima de lo esperado. La compañía presentó un beneficio por acción de $1,92 y una facturación de $8,45B. Los analistas encuestados por Investing.com esperaban un BPA de $1,8 y unos ingresos de $8,08B En lo que llevamos de año, la acción de Honeywell avanza un 7%, por debajo de lo esperado al Dow Jones, lo que representa una subida del 10%. Con sus cifras, Honeywell se une este mes a otras grandes del sector Bienes de capital. El pasado Miércoles, ASML ADR presentó un BPA para el primer trimestre del año de $3,86 y unos ingresos de $5,25B, frente a la previsión de BPA de $3,06 y de ingresos de $4,76B. Los beneficios de Lockheed Martin superaron las previsiones de los analistas lanzadas el pasado Martes, con un BPA para el primer trimestre de $6,56 y unos ingresos de $16,26B. Los analistas encuestados por Investing.com esperaban un BPA de $6,31 y unos ingresos de $16,38B. Manténgase al día de todas las cifras empresariales visitando nuestro Calendario de Resultados.
Greek News:
Η Honeywell ανακοίνωσε δύο σημαντικές συμφωνίες στον τομέα της αεροπορικής υποστήριξης και συντήρησης, διευρύνοντας τη διεθνή της παρουσία και ενισχύοντας τις δυνατότητες εξυπηρέτησης σε κρίσιμες αγορές. Συγκεκριμένα, η εταιρεία υπέγραψε πενταετή συμφωνία με την Abu Dhabi Aviation (ADA), ως αποκλειστικός παγκόσμιος διανομέας, με εξαίρεση των αγορών των ΗΠΑ και Ιαπωνίας, για τις μονάδες Multifunction Control Display Units (MCDU) που χρησιμοποιούνται σε ελικόπτερα Leonardo AW139. Η ADA, με πολυετή εμπειρία στη προμήθεια και υποστήριξη αεροπορικού εξοπλισμού στη Μέση Ανατολή, θα επιτρέψει στην Honeywell να εφαρμόσει προσαρμοσμένα επιχειρησιακά προγράμματα που συντελούν στη μείωση του κόστους και την επιβράδυνση της τεχνολογικής απαξίωσης των προϊόντων. Παράλληλα, η Honeywell προχώρησε στην υπογραφή δεκαετούς, μη αποκλειστικής συμφωνίας με την GKN Aerospace’s Fokker Landing Gear στην Ολλανδία, για την ίδρυση εξουσιοδοτημένου κέντρου συντήρησης των συστημάτων τροχών και φρένων του μαχητικού F-35. Η συνεργασία αυτή στοχεύει στην ενίσχυση της τεχνικής υποστήριξης εντός Ευρώπης και στην αποτελεσματικότερη εξυπηρέτηση των περιφερειακών χειριστών του αεροσκάφους, με ταυτόχρονη μείωση του λειτουργικού κόστους.
Question:
What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Honeywell’s capital expenditures were $221 million in Q1 2021. Strategically, the company is investing in high-return opportunities, including acquisitions and technologies aligned with environmental goals and emerging markets.
Financial Statement Evidence: Net cash provided by (used for) financing activities: $221M (Q1 2021 Cash Flow Statement);Cash paid for acquisitions, net of cash acquired: $1.30B |
HON_20210423 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:------------------------------------------------------------------------------|:----------------------|:-----------|:------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | March 31, 2021 | | December 31, 2020 | | | | | | | | |
| | (Dollars in millions) | | | | | | | | | | |
| ASSETS | | | | | | | | | | | |
| Current assets: | | | | | | | | | | | |
| Cash and cash equivalents | $ | 11,718 | | | $ | 14,275 | | | | | |
| Short-term investments | 942 | | | 945 | | | | | | | |
| Accounts receivable - net | 6,675 | | | 6,827 | | | | | | | |
| Inventories | 4,607 | | | 4,489 | | | | | | | |
| Other current assets | 1,645 | | | 1,639 | | | | | | | |
| Total current assets | 25,587 | | | 28,175 | | | | | | | |
| Investments and long-term receivables | 746 | | | 685 | | | | | | | |
| Property, plant and equipment - net | 5,547 | | | 5,570 | | | | | | | |
| Goodwill | 16,981 | | | 16,058 | | | | | | | |
| Other intangible assets - net | 3,799 | | | 3,560 | | | | | | | |
| Insurance recoveries for asbestos related liabilities | 347 | | | 366 | | | | | | | |
| Deferred income taxes | 762 | | | 760 | | | | | | | |
| Other assets | 9,792 | | | 9,412 | | | | | | | |
| Total assets | $ | 63,561 | | | $ | 64,586 | | | | | |
| LIABILITIES | | | | | | | | | | | |
| Current liabilities: | | | | | | | | | | | |
| Accounts payable | $ | 5,792 | | | $ | 5,750 | | | | | |
| Commercial paper and other short-term borrowings | 3,568 | | | 3,597 | | | | | | | |
| Current maturities of long-term debt | 1,635 | | | 2,445 | | | | | | | |
| Accrued liabilities | 6,955 | | | 7,405 | | | | | | | |
| Total current liabilities | 17,950 | | | 19,197 | | | | | | | |
| Long-term debt | 16,124 | | | 16,342 | | | | | | | |
| Deferred income taxes | 2,309 | | | 2,113 | | | | | | | |
| Postretirement benefit obligations other than pensions | 234 | | | 242 | | | | | | | |
| Asbestos-related liabilities | 1,873 | | | 1,920 | | | | | | | |
| Other liabilities | 6,812 | | | 6,975 | | | | | | | |
| Redeemable noncontrolling interest | 7 | | | 7 | | | | | | | |
| SHAREOWNERS’ EQUITY | | | | | | | | | | | |
| Capital - common stock issued | 958 | | | 958 | | | | | | | |
| - additional paid-in capital | 7,505 | | | 7,292 | | | | | | | |
| Common stock held in treasury, at cost | (27,975) | | | (27,229) | | | | | | | |
| Accumulated other comprehensive loss | (3,184) | | | (3,377) | | | | | | | |
| Retained earnings | 40,682 | | | 39,905 | | | | | | | |
| Total Honeywell shareowners’ equity | 17,986 | | | 17,549 | | | | | | | |
| Noncontrolling interest | 266 | | | 241 | | | | | | | |
| Total shareowners’ equity | 18,252 | | | 17,790 | | | | | | | |
| Total liabilities, redeemable noncontrolling interest and shareowners’ equity | $ | 63,561 | | | $ | 64,586 | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:------------------------------------------------------------------------------------------------------------|:-----------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | Three Months Ended March 31, | | | | | | | | | | |
| | 2021 | | 2020 | | | | | | | | |
| | (Dollars in millions) | | | | | | | | | | |
| Cash flows from operating activities: | | | | | | | | | | | |
| Net income | $ | 1,448 | | | $ | 1,606 | | | | | |
| Less: Net income attributable to the noncontrolling interest | 21 | | | 25 | | | | | | | |
| Net income attributable to Honeywell | 1,427 | | | 1,581 | | | | | | | |
| Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities: | | | | | | | | | | | |
| Depreciation | 171 | | | 153 | | | | | | | |
| Amortization | 170 | | | 90 | | | | | | | |
| Gain on sale of non-strategic businesses and assets | (90) | | | — | | | | | | | |
| Repositioning and other charges | 141 | | | 62 | | | | | | | |
| Net payments for repositioning and other charges | (195) | | | (111) | | | | | | | |
| Pension and other postretirement income | (293) | | | (212) | | | | | | | |
| Pension and other postretirement benefit payments | (14) | | | (14) | | | | | | | |
| Stock compensation expense | 77 | | | 44 | | | | | | | |
| Deferred income taxes | 63 | | | (58) | | | | | | | |
| | | | | | | | | | | | |
| Other | (96) | | | (179) | | | | | | | |
| Changes in assets and liabilities, net of the effects of acquisitions and divestitures: | | | | | | | | | | | |
| Accounts receivable | 143 | | | 41 | | | | | | | |
| Inventories | (158) | | | (163) | | | | | | | |
| Other current assets | (66) | | | 166 | | | | | | | |
| Accounts payable | 57 | | | (54) | | | | | | | |
| Accrued liabilities | (359) | | | (407) | | | | | | | |
| Net cash provided by (used for) operating activities | 978 | | | 939 | | | | | | | |
| Cash flows from investing activities: | | | | | | | | | | | |
| Expenditures for property, plant and equipment | (221) | | | (139) | | | | | | | |
| Proceeds from disposals of property, plant and equipment | 14 | | | 7 | | | | | | | |
| Increase in investments | (736) | | | (648) | | | | | | | |
| Decrease in investments | 612 | | | 843 | | | | | | | |
| Receipts (payments) from settlements of derivative contracts | 140 | | | 287 | | | | | | | |
| Cash paid for acquisitions, net of cash acquired | (1,303) | | | — | | | | | | | |
| Proceeds from sales of businesses, net of fees paid | 190 | | | — | | | | | | | |
| Net cash provided by (used for) investing activities | (1,304) | | | 350 | | | | | | | |
| Cash flows from financing activities: | | | | | | | | | | | |
| Proceeds from issuance of commercial paper and other short-term borrowings | 1,268 | | | 3,455 | | | | | | | |
| Payments of commercial paper and other short-term borrowings | (1,266) | | | (3,373) | | | | | | | |
| Proceeds from issuance of common stock | 67 | | | 66 | | | | | | | |
| Proceeds from issuance of long-term debt | 23 | | | 1,127 | | | | | | | |
| Payments of long-term debt | (817) | | | (1,125) | | | | | | | |
| Repurchases of common stock | (822) | | | (1,923) | | | | | | | |
| Cash dividends paid | (640) | | | (635) | | | | | | | |
| Other | (30) | | | (38) | | | | | | | |
| Net cash provided by (used for) financing activities | (2,217) | | | (2,446) | | | | | | | |
| Effect of foreign exchange rate changes on cash and cash equivalents | (14) | | | (189) | | | | | | | |
| Net increase (decrease) in cash and cash equivalents | (2,557) | | | (1,346) | | | | | | | |
| Cash and cash equivalents at beginning of period | 14,275 | | | 9,067 | | | | | | | |
| Cash and cash equivalents at end of period | $ | 11,718 | | | $ | 7,721 | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 |
|:-------------------------------------------------------------|:------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | |
| | Three Months Ended March 31, | | | | | | | | | | | | | | |
| | 2021 | | 2020 | | | | | | | | | | | | |
| | (Dollars in millions, except per share amounts) | | | | | | | | | | | | | | |
| Product sales | $ | 6,409 | | | $ | 6,305 | | | | | | | | | |
| Service sales | 2,045 | | | 2,158 | | | | | | | | | | | |
| Net sales | 8,454 | | | 8,463 | | | | | | | | | | | |
| Costs, expenses and other | | | | | | | | | | | | | | | |
| Cost of products sold | 4,551 | | | 4,374 | | | | | | | | | | | |
| Cost of services sold | 1,158 | | | 1,160 | | | | | | | | | | | |
| | 5,709 | | | 5,534 | | | | | | | | | | | |
| Selling, general and administrative expenses | 1,236 | | | 1,238 | | | | | | | | | | | |
| Other (income) expense | (442) | | | (317) | | | | | | | | | | | |
| Interest and other financial charges | 90 | | | 73 | | | | | | | | | | | |
| | 6,593 | | | 6,528 | | | | | | | | | | | |
| Income before taxes | 1,861 | | | 1,935 | | | | | | | | | | | |
| Tax expense (benefit) | 413 | | | 329 | | | | | | | | | | | |
| Net income | 1,448 | | | 1,606 | | | | | | | | | | | |
| Less: Net income attributable to the noncontrolling interest | 21 | | | 25 | | | | | | | | | | | |
| Net income attributable to Honeywell | $ | 1,427 | | | $ | 1,581 | | | | | | | | | |
| Earnings per share of common stock - basic | $ | 2.05 | | | $ | 2.23 | | | | | | | | | |
| Earnings per share of common stock - assuming dilution | $ | 2.03 | | | $ | 2.21 | | | | | | | | | |
---
English News:
"Honeywell Overdelivers On All Guided Metrics In The First Quarter; Raises Full-Year Sales And Adjusted EPS Guidance - CHARLOTTE, N.C., April 23, 2021 /PRNewswire/ --Honeywell (NYSE: HON) today announced results for the first quarter that exceeded the company's guidance. The company also raised its full-year sales guidance and raised the midpoint of its adjusted earnings per share and cash flow guidance. \"Honeywell delivered a strong start to 2021 with first-quarter results that exceeded our expectations. We are seeing promising signs of a rapid recovery in some of our markets, and we are poised to capitalize on new business opportunities as they arise,\" said Darius Adamczyk, chairman and chief executive officer of Honeywell. \"We reported first-quarter sales of $8.5 billion, flat year over year, or a decline of 2% on an organic basis. Our first-quarter sales exceeded the high end of our guidance range by approximately $250 million driven by continued double-digit growth in our Warehouse and Workflow Solutions and personal protective equipment businesses as well as demand for our building products and services, advanced materials, and connected software. Operating margin contracted 220 basis points for the quarter to 17.8%, with segment margin contracting 80 basis points to 21.0%, which exceeded the high end of our guidance by 10 basis points. We delivered segment margin expansion in Aerospace, Honeywell Building Technologies, and Safety and Productivity Solutions for the second consecutive quarter, supported by our streamlined cost base following the cost actions we took in 2020. We delivered earnings per share of $2.03, with adjusted earnings per share1 of $1.92, down 13% year over year but 9 cents above the high end of the previously provided guidance range. We continued to take advantage of our strong balance sheet, and deployed capital to high-return opportunities in the quarter, including closing our acquisition of quality management software leader Sparta Systems and announcing the acquisition of a majority stake in Fiplex, a leading provider of in-building communications systems. In addition, we repurchased $0.8 billion in Honeywell shares and made five strategic investments through Honeywell Ventures.\" Adamczyk continued, \"As we look to the rest of 2021 and beyond, we are well positioned for the recovery to come. Our new offerings in growing markets like life sciences are gaining traction and the industries that were hardest hit by the pandemic are expected to improve throughout the year. We have a robust portfolio of technologies that help our customers meet their environmental and social goals. In fact, about half of Honeywell's new product introduction research and development investment is directed toward products that improve environmental and social outcomes for customers. Earlier this month, we pledged to become carbon neutral in our operations and facilities by 2035, building on our commitment to reduce our carbon footprint in 2024 by 10% from 2018 levels. Our confidence in this commitment is underpinned by our history of setting aggressive environmental targets and beating them, which has enabled us to reduce our greenhouse gas intensity by more than 90% since 2004. We look forward to continuing to deliver outstanding results for our shareowners, customers, and employees.\" As a result of the company's first-quarter performance and management's outlook for the remainder of the year, Honeywell raised its full-year sales guidance and raised the midpoint of its adjusted earnings per share and cash flow guidance. Full-year organic sales growth is now expected to be in the range of 3% to 5%. Adjusted earnings per share2 is expected to be $7.75 to $8.00, up 15 cents from the low end of the prior guidance range. Operating cash flow is now expected to be in the range of $5.8 billion to $6.1 billion and free cash flow is now expected to be in the range of $5.2 billion to $5.5 billion. A summary of the company's full-year guidance changes can be found in Table 1. First-Quarter PerformanceHoneywellsales for the first quarter were flat on a reported basis and down 2% on an organic basis. The first-quarter financial results can be found in Tables 2 and 3. Aerospacesales for the first quarter were down 22% on an organic basis driven by lower commercial aftermarket demand due to the ongoing impact of reduced flight hours, softness in commercial original equipment, and lower volumes in international defense, partially offset by growth in U.S. defense and space. Segment margin expanded 110 basis points to 29.0%. Margin performance was due to a number of factors, including commercial excellence, cost management, and a one-time benefit. Honeywell Building Technologiessales for the first quarter were up 2% on an organic basis driven by demand for Products and growth in Building Solutions services. Orders were up mid-single digits year over year, driven by strong bookings for services and security products. Segment margin expanded 200 basis points to 22.5% driven by commercial excellence and productivity, net of inflation. Performance Materials and Technologies sales for the first quarter were down 6% on an organic basis driven by continued delays in Process Solutions automation projects, lower volumes in smart energy, and lower demand for licensing and catalysts in UOP, partially offset by continued growth in Advanced Materials driven by strong demand for fluorine products and specialty materials. Segment margin contracted 290 basis points to 18.5% driven by the impact of sales mix, partially offset by commercial excellence. Safety and Productivity Solutionssales for the first quarter were up 47% on an organic basis driven by double-digit Warehouse and Workflow Solutions, personal protective equipment, and Productivity Solutions and Services growth. Orders were up double digits year over year for the sixth straight quarter, led by continued demand for personal protective equipment and Productivity Solutions and Services, and backlog remained above $4 billion for the third quarter in a row. Segment margin expanded 180 basis points to 14.3% driven by the impact of higher sales volumes. Conference Call DetailsHoneywell will discuss its first-quarter results and updated full-year guidance during an investor conference call starting at 8:30 a.m. Eastern Daylight Time today. To participate on the conference call, please dial (800) 263-0877 (domestic) or (646) 828-8143 (international) approximately ten minutes before the 8:30 a.m. EDT start.Please mention to the operator that you are dialing in for Honeywell's first-quarter 2021 earnings call or provide the conference code HON1Q21. The live webcast of the investor call as well as related presentation materials will be available through the Investor Relations section of the company's website (www.honeywell.com/investor). Investors can hear a replay of the conference call from 12:30 p.m. EDT April 23 until 12:30 p.m. EDT April 30 by dialing (888) 203-1112 (domestic) or (719) 457-0820 (international). The access code is 8053208. TABLE 1: FULL-YEAR 2021 GUIDANCE4 Previous Guidance Current Guidance Sales $33.4B - $34.4B $34.0B - $34.8B Organic Growth 1% - 4% 3% - 5% Segment Margin 20.7% - 21.1% 20.7% - 21.1% Expansion Up 30 - 70 bps Up 30 - 70 bps Adjusted Earnings Per Share2 $7.60 - $8.00 $7.75 - $8.00 Adjusted Earnings Growth3 7% - 13% 9% - 13% Operating Cash Flow $5.7B - $6.1B $5.8B - $6.1B Free Cash Flow $5.1B - $5.5B $5.2B - $5.5B TABLE 2: SUMMARY OF HONEYWELL FINANCIAL RESULTS 1Q 2021 1Q 2020 Change Sales 8,454 8,463 % Organic Growth (2%) Segment Margin 21.0% 21.8% -80 bps Operating Income Margin 17.8% 20.0% -220 bps Earnings Per Share $2.03 $2.21 (8%) Adjusted Earnings Per Share1 $1.92 $2.21 (13%) Cash Flow from Operations 978 939 4% Operating Cash Flow Conversion 69% 59% 10% Free Cash Flow 757 800 (5%) Adjusted Free Cash Flow Conversion5 56% 51% 5% TABLE 3: SUMMARY OF SEGMENT FINANCIAL RESULTS AEROSPACE 1Q 2021 1Q 2020 Change Sales 2,632 3,361 (22%) Organic Growth (22%) Segment Profit 762 937 (19%) Segment Margin 29.0% 27.9% 110 bps HONEYWELL BUILDING TECHNOLOGIES Sales 1,358 1,281 6% Organic Growth 2% Segment Profit 305 262 16% Segment Margin 22.5% 20.5% 200 bps PERFORMANCE MATERIALS AND TECHNOLOGIES Sales 2,346 2,397 (2%) Organic Growth (6%) Segment Profit 434 512 (15%) Segment Margin 18.5% 21.4% -290 bps SAFETY AND PRODUCTIVITY SOLUTIONS Sales 2,118 1,424 49% Organic Growth 47% Segment Profit 303 178 70% Segment Margin 14.3% 12.5% 180 bps 1Adjusted EPS and adjusted EPS V% exclude the $0.11 impact of the sale of the retail footwear business 2Adjusted EPS guidance excludes the $0.11 impact of the sale of the retail footwear business and any potential future one-time items that we cannot reliably predict or estimate such as pension mark-to-market 3Adjusted EPS V% guidance excludes the $0.11 impact of the sale of the retail footwear business, any potential future one-time items that we cannot reliably predict or estimate such as pension mark-to-market, 4Q20 pension mark-to-market, 2Q20 favorable resolution of a foreign tax matter related to the spin-off transactions, and non-cash charges associated with the reduction in value of reimbursement receivables due from Garrett Motion Inc. (Garrett), net of proceeds from the settlement of related hedging transactions 4As discussed in the notes to the attached reconciliations, we do not provide guidance for margin or EPS on a GAAP basis 5Adjusted free cash flow conversion excludes the gain on sale of the retail footwear business Honeywell (www.honeywell.com) is a Fortune 100 technology company that delivers industry specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help everything from aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom. This release contains certain statements that may be deemed \"forward-looking statements\" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, technological, and COVID-19 public health factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, and other developments, including the potential impact of the COVID-19 pandemic, and business decisions may differ from those envisaged by such forward-looking statements. Any forward-looking plans described herein are not final and may be modified or abandoned at any time. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission. This release contains financial measures presented on a non-GAAP basis. Honeywell's non-GAAP financial measures used in this release are as follows: segment profit, on an overall Honeywell basis, a measure by which we assess operating performance, which we define as operating income adjusted for certain items as presented in the Appendix; segment margin, on an overall Honeywell basis, which we define as segment profit divided by sales; organic sales growth, which we define as sales growth less the impacts from foreign currency translation, and acquisitions and divestitures for the first 12 months following transaction date; free cash flow, which we define as cash flow from operations less capital expenditures plus anticipated cash receipts from Garrett, if and as noted in the release; adjusted free cash flow conversion, which we define as free cash flow divided by net income attributable to Honeywell, excluding the gain on sale of the Retail footwear business, if and as noted in the release; and adjusted earnings per share, which we adjust to exclude pension mark-to-market, the favorable resolution of a foreign tax matter related to the spin-off transactions, non-cash charges associated with the reduction in value of reimbursement receivables due from Garrett, net of proceeds from settlement of related hedging transactions, and the gain on sale of the Retail footwear business, if and as noted in the release. Management believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. These metrics should be considered in addition to, and not as replacements for, the most comparable GAAP measure. Refer to the Appendix attached to this release for reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures. Honeywell International Inc. Consolidated Statement of Operations (Unaudited) (Dollars in millions, except per share amounts) Three Months Ended March 31, 2021 2020 Product sales $ 6,409 $ 6,305 Service sales 2,045 2,158 Net sales 8,454 8,463 Costs, expenses and other Cost of products sold(1) 4,551 4,374 Cost of services sold(1) 1,158 1,160 5,709 5,534 Selling, general and administrative expenses(1) 1,236 1,238 Other (income) expense (442) (317) Interest and other financial charges 90 73 6,593 6,528 Income before taxes 1,861 1,935 Tax expense (benefit) 413 329 Net income 1,448 1,606 Less: Net income attributable to the noncontrolling interest 21 25 Net income attributable to Honeywell $ 1,427 $ 1,581 Earnings per share of common stock - basic $ 2.05 $ 2.23 Earnings per share of common stock - assuming dilution $ 2.03 $ 2.21 Weighted average number of shares outstanding - basic 696.2 709.6 Weighted average number of shares outstanding - assuming dilution 704.5 717.0 (1) Cost of products and services sold and Selling, general and administrative expenses include amounts for repositioning and other charges, the service cost component of pension and other postretirement (income) expense, and stock compensation expense. Honeywell International Inc. Segment Data (Unaudited) (Dollars in millions) Three Months Ended March 31, Net Sales 2021 2020 Aerospace $ 2,632 $ 3,361 Honeywell Building Technologies 1,358 1,281 Performance Materials and Technologies 2,346 2,397 Safety and Productivity Solutions 2,118 1,424 Total $ 8,454 $ 8,463 Reconciliation of Segment Profit to Income Before Taxes Three Months Ended March 31, Segment Profit 2021 2020 Aerospace $ 762 $ 937 Honeywell Building Technologies 305 262 Performance Materials and Technologies 434 512 Safety and Productivity Solutions 303 178 Corporate (29) (41) Total segment profit 1,775 1,848 Interest and other financial charges (90) (73) Stock compensation expense (1) (77) (44) Pension ongoing income (2) 276 198 Other postretirement income (2) 17 13 Repositioning and other charges (3,4) (141) (62) Other (5) 101 55 Income before taxes $ 1,861 $ 1,935 (1) Amounts included in Selling, general and administrative expenses. (2) Amounts included in Cost of products and services sold and Selling, general and administrative expenses (service costs) and Other income/expense (non-service cost components). (3) Amounts included in Cost of products and services sold, Selling, general and administrative expenses, and Other (income) expense. (4) Includes repositioning, asbestos, and environmental expenses. (5) Amounts include the other components of Other (income) expense not included within other categories in this reconciliation. Equity income of affiliated companies is included in segment profit. Honeywell International Inc. Consolidated Balance Sheet (Unaudited) (Dollars in millions) March 31, 2021 December 31, 2020 ASSETS Current assets: Cash and cash equivalents $ 11,718 $ 14,275 Short-term investments 942 945 Accounts receivable - net 6,675 6,827 Inventories 4,607 4,489 Other current assets 1,645 1,639 Total current assets 25,587 28,175 Investments and long-term receivables 746 685 Property, plant and equipment - net 5,547 5,570 Goodwill 16,981 16,058 Other intangible assets - net 3,799 3,560 Insurance recoveries for asbestos related liabilities 347 366 Deferred income taxes 762 760 Other assets 9,792 9,412 Total assets $ 63,561 $ 64,586 LIABILITIES Current liabilities: Accounts payable $ 5,792 $ 5,750 Commercial paper and other short-term borrowings 3,568 3,597 Current maturities of long-term debt 1,635 2,445 Accrued liabilities 6,955 7,405 Total current liabilities 17,950 19,197 Long-term debt 16,124 16,342 Deferred income taxes 2,309 2,113 Postretirement benefit obligations other than pensions 234 242 Asbestos-related liabilities 1,873 1,920 Other liabilities 6,812 6,975 Redeemable noncontrolling interest 7 7 Shareowners' equity 18,252 17,790 Total liabilities, redeemable noncontrolling interest and shareowners' equity $ 63,561 $ 64,586 Honeywell International Inc. Consolidated Statement of Cash Flows (Unaudited) (Dollars in millions) Three Months Ended March 31, 2021 2020 Cash flows from operating activities: Net income $ 1,448 $ 1,606 Less: Net income attributable to the noncontrolling interest 21 25 Net income attributable to Honeywell 1,427 1,581 Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities: Depreciation 171 153 Amortization 170 90 Gain on sale of non-strategic businesses and assets (90) Repositioning and other charges 141 62 Net payments for repositioning and other charges (195) (111) Pension and other postretirement income (293) (212) Pension and other postretirement benefit payments (14) (14) Stock compensation expense 77 44 Deferred income taxes 63 (58) Other (96) (179) Changes in assets and liabilities, net of the effects of acquisitions and divestitures: Accounts receivable 143 41 Inventories (158) (163) Other current assets (66) 166 Accounts payable 57 (54) Accrued liabilities (359) (407) Net cash provided by (used for) operating activities 978 939 Cash flows from investing activities: Expenditures for property, plant and equipment (221) (139) Proceeds from disposals of property, plant and equipment 14 7 Increase in investments (736) (648) Decrease in investments 612 843 Receipts (payments) from settlements of derivative contracts 140 287 Cash paid for acquisitions, net of cash acquired (1,303) Proceeds from sales of businesses, net of fees paid 190 Net cash provided by (used for) investing activities (1,304) 350 Cash flows from financing activities: Proceeds from issuance of commercial paper and other short-term borrowings 1,268 3,455 Payments of commercial paper and other short-term borrowings (1,266) (3,373) Proceeds from issuance of common stock 67 66 Proceeds from issuance of long-term debt 23 1,127 Payments of long-term debt (817) (1,125) Repurchases of common stock (822) (1,923) Cash dividends paid (640) (635) Other (30) (38) Net cash provided by (used for) financing activities (2,217) (2,446) Effect of foreign exchange rate changes on cash and cash equivalents (14) (189) Net increase (decrease) in cash and cash equivalents (2,557) (1,346) Cash and cash equivalents at beginning of period 14,275 9,067 Cash and cash equivalents at end of period $ 11,718 $ 7,721 Honeywell International Inc. Reconciliation of Organic Sales % Change (Unaudited) Three Months Ended March 31, 2021 Honeywell Reported sales % change % Less: Foreign currency translation 2% Less: Acquisitions, divestitures and other, net % Organic sales % change (2)% Aerospace Reported sales % change (22)% Less: Foreign currency translation % Less: Acquisitions, divestitures and other, net % Organic sales % change (22)% Honeywell Building Technologies Reported sales % change 6% Less: Foreign currency translation 4% Less: Acquisitions, divestitures and other, net % Organic sales % change 2% Performance Materials and Technologies Reported sales % change (2)% Less: Foreign currency translation 3% Less: Acquisitions, divestitures and other, net 1% Organic sales % change (6)% Safety and Productivity Solutions Reported sales % change 49% Less: Foreign currency translation 3% Less: Acquisitions, divestitures and other, net (1)% Organic sales % change 47% We define organic sales percent as the year over year change in reported sales relative to the comparable period, excluding the impact on sales from foreign currency translation and acquisitions, net of divestitures. We believe this measure is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. A quantitative reconciliation of reported sales percent change to organic sales percent change has not been provided for forward-looking measures of organic sales percent change because management cannot reliably predict or estimate, without unreasonable effort, the fluctuations in global currency markets that impact foreign currency translation, nor is it reasonable for management to predict the timing, occurrence and impact of acquisition and divestiture transactions, all of which could significantly impact our reported sales percent change. Honeywell International Inc. Reconciliation of Segment Profit to Operating Income and Calculation of Segment Profit and Operating Income Margins (Unaudited) (Dollars in millions) Three Months Ended March 31, Twelve Months Ended December 31, 2021 2020 2020 Segment profit $ 1,775 $ 1,848 $ 6,665 Stock compensation expense (1) (77) (44) (168) Repositioning, Other (2,3) (155) (74) (641) Pension and other postretirement service costs (4) (34) (39) (160) Operating income $ 1,509 $ 1,691 $ 5,696 Segment profit $ 1,775 $ 1,848 $ 6,665 Net sales $ 8,454 $ 8,463 $ 32,637 Segment profit margin % 21.0 % 21.8 % 20.4 % Operating income $ 1,509 $ 1,691 $ 5,696 Net sales $ 8,454 $ 8,463 $ 32,637 Operating income margin % 17.8 % 20.0 % 17.5 % (1) Included in Selling, general and administrative expenses. (2) Includes repositioning, asbestos, environmental expenses and equity income adjustment. (3) Included in Cost of products and services sold, Selling, general and administrative expenses and Other (income) expense. (4) Included in Cost of products and services sold and Selling, general and administrative expenses. We define segment profit as operating income, excluding stock compensation expense, pension and other postretirement service costs, and repositioning and other charges. We believe these measures are useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. A quantitative reconciliation of segment profit, on an overall Honeywell basis, to operating income has not been provided for all forward-looking measures of segment profit and segment margin included herewithin. Management cannot reliably predict or estimate, without unreasonable effort, the impact and timing on future operating results arising from items excluded from segment profit. The information that is unavailable to provide a quantitative reconciliation could have a significant impact on our reported financial results. To the extent quantitative information becomes available without unreasonable effort in the future, and closer to the period to which the forward-looking measures pertain, a reconciliation of segment profit to operating income will be included within future filings. Honeywell International Inc. Reconciliation of Earnings per Share to Adjusted Earnings per Share (Unaudited) Three Months Ended March 31, Twelve Months Ended December 31, 2021 2020 2020 Earnings per share of common stock - assuming dilution (1) $ 2.03 $ 2.21 $ 6.72 Pension mark-to-market expense (2) 0.04 Separation related tax adjustment (3) (0.26) Gain on sale of retail footwear business (4) (0.11) Garrett related adjustment (5) 0.60 Adjusted earnings per share of common stock - assuming dilution $ 1.92 $ 2.21 $ 7.10 (1) For the three months ended March 31, 2021 and 2020, adjusted earnings per share utilizes weighted average shares of approximately 704.5 million and 717.0 million. For the twelve months ended December 31, 2020, adjusted earnings per share utilizes weighted average shares of 711.2 million. (2) Pension mark-to-market expense uses a blended tax rate of 25% for 2020. (3) For the twelve months ended December 31, 2020, separation related tax adjustment of $186 million ($186 million net of tax) includes the favorable resolution of a foreign tax matter related to the spin-off transactions. (4) For the three months ended March 31, 2021, the adjustment was $72 million net of tax due to the gain on sale of the retail footwear business. (5) For the twelve months ended December 31, 2020, adjustment was $427 million net of tax due to the non-cash charges associated with the reduction in value of reimbursement receivables due from Garrett, net of proceeds from settlement of related hedging transactions. We believe adjusted earnings per share, excluding spin-off impact, is a measure that is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. For forward looking information, management cannot reliably predict or estimate, without unreasonable effort, the pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. We therefore do not include an estimate for the pension mark-to-market expense. Based on economic and industry conditions, future developments and other relevant factors, these assumptions are subject to change. Honeywell International Inc. Reconciliation of Cash Provided by Operating Activities to Adjusted Free Cash Flow and Calculation of Adjusted Free Cash Flow Conversion (Unaudited) (Dollars in millions) Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 Cash provided by operating activities $ 978 $ 939 Expenditures for property, plant and equipment (221) (139) Free cash flow 757 800 Separation cost payments Adjusted free cash flow $ 757 $ 800 Net income attributable to Honeywell 1,427 1,581 Separation related tax adjustment Pension mark-to-market Gain on sale of retail footwear business (1) (72) Adjusted net income attributable to Honeywell $ 1,355 $ 1,581 Cash provided by operating activities $ 978 $ 939 Net income (loss) attributable to Honeywell $ 1,427 $ 1,581 Operating cash flow conversion 69 % 59 % Adjusted free cash flow $ 757 $ 800 Adjusted net income attributable to Honeywell $ 1,355 $ 1,581 Adjusted free cash flow conversion % 56 % 51 % (1) The adjustment due to a gain on sale of the retail footwear business. We define free cash flow as cash provided by operating activities less cash expenditures for property, plant and equipment plus anticipated cash receipts from Garrett. We believe that free cash flow is a non-GAAP metric that is useful to investors and management as a measure of cash generated by operations that will be used to repay scheduled debt maturities and can be used to invest in future growth through new business development activities or acquisitions, pay dividends, repurchase stock or repay debt obligations prior to their maturities. This metric can also be used to evaluate our ability to generate cash flow from operations and the impact that this cash flow has on our liquidity. For forward looking information, we do not provide cash flow conversion guidance on a GAAP basis as management cannot reliably predict or estimate, without unreasonable effort, the pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. Honeywell International Inc. Reconciliation of Cash Provided by Operating Activities to Adjusted Free Cash Flow (Unaudited) TwelveMonths Ended December31, 2021(E) ($B) Cash provided by operating activities ~$5.8 - $6.1 Expenditures for property, plant and equipment ~(1) Garrett cash receipts 0.4 Free cash flow ~$5.2 - $5.5 We define free cash flow as cash provided by operating activities less cash expenditures for property, plant and equipment plus anticipated cash receipts from Garrett. We believe that free cash flow is a non-GAAP metric that is useful to investors and management as a measure of cash generated by operations that will be used to repay scheduled debt maturities and can be used to invest in future growth through new business development activities or acquisitions, pay dividends, repurchase stock or repay debt obligations prior to their maturities. This metric can also be used to evaluate our ability to generate cash flow from operations and the impact that this cash flow has on our liquidity. For forward looking information, we do not provide cash flow conversion guidance on a GAAP basis as management cannot reliably predict or estimate, without unreasonable effort, the pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. Honeywell International Inc. Reconciliation of Expected Earnings per Share to Adjusted Earnings per Share (Unaudited) Twelve Months Ended December 31, 2021(E) Earnings per share of common stock - assuming dilution (1) $7.86 - $8.11 Gain on sale of retail footwear business (2) (0.11) Adjusted earnings per share of common stock - assuming dilution $7.75 - $8.00 (1) For the twelve months ended December 31, 2021, expected earnings per share utilizes weighted average shares of approximately 705 million. (2) For the twelve months ended December 31, 2021, the adjustment was $72 million net of tax due to the gain on sale of the retail footwear business. We believe adjusted earnings per share is a measure that is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. For forward looking information, management cannot reliably predict or estimate any potential future one-time items, such as pension mark-to-market, without unreasonable effort. Pension mark-to-market expense is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. We therefore do not include an estimate for the pension mark-to-market expense. Based on economic and industry conditions, future developments and other relevant factors, these assumptions are subject to change. Contacts: Media Investor Relations Nina Krauss Mark Bendza (704) 627-6035 (704) 627-6200 [emailprotected] [emailprotected] SOURCE Honeywell Related Links http://www.honeywell.com",
Chinese News:
霍尼韦尔（纽交所代码：HON）近日发布了超出业绩指导预期的第一季度财务业绩，上调了全年销售额业绩指导以及调整后每股收益和现金流财务指导范围的中位数。“霍尼韦尔在2021年开局强劲，第一季度业绩超出预期。我们在业务涵盖的一些市场中看到了快速复苏的迹象，并且随时准备充分利用新出现的商机，”霍尼韦尔董事长兼首席执行官杜瑞哲表示：“第一季度报告销售额为85亿美元，与去年同期持平，内 生式销售额下降了2%。受益于仓储和工作流程解决方案以及个人防护设备业务保持两位数的增长，以及市场对霍尼韦尔建筑产品和服务、高性能 材料和互联软件的需求增长，我们第一季度的销售额超出业绩指导预期范围上限约2.5亿美元。本季度营运利润率下降220个基点至17.8%，部门利润率下降80个基点至21.0%，超出业绩指导预测范围上限10个基点。其中航空航天集团、智能建筑科技集团和安全与生产力解决方案集团连续第二个季度实现了部门利润率的增长，这得益于我们在2020年采取成本管理措施后精简了成本结构。第一季度每股收益为2.03美元，调整后每股收益1为1.92美元，同比下降13%，但比前述业绩指导预测范围上限高出9美分。本季度，我们继续利用强劲的资产负债表，并投资于高回报的业务机会 ，包括完成对质量管理软件领军企业Sparta Systems的收购并宣布收购建筑内部通信系统供应商Fiplex的多数股权。此外，我们回购了8亿美元的霍尼韦尔股票，并通过霍尼韦尔创投（Honeywell Ventures）对五个项目进行了战略投资。”杜瑞哲还表示：“展望整个2021年及未来，我们已经 做好了迎接经济复苏的准备。我们在生命科学等成长型市场的新产品越来越受欢迎，而受疫情影响最为严重的行业境况预计在全年内将持续改善 。我们拥有强大的技术组合，能帮助客户实现其环保和社会目标。实际上，霍尼韦尔公司约50%的新产品研发投资都以改善客户的环保表现和社会效益为出发点。4月初，我们在此前做出的2024年将碳足迹在2018年的基础上减少10%的承诺基础上，宣布承诺于2035年前实现所有业务运营和设 施的碳中和目标。霍尼韦尔对实现这一承诺充满信心，因为我们曾多次制定进取的可持续发展目标并超额完成，使公司温室气体排放强度自2004 年以来降低了90%以上。我们期待继续为我们的股东、客户和员工取得优秀的业绩。”基于公司第一季度的业绩以及管理层对全年的展望，霍尼韦 尔上调了全年销售额业绩指导以及调整后每股收益和现金流财务指导范围的中位数。全年内生式销售额增长预计在3%至5%的区间。调整后每股收 益2预计为7.75美元至8.00美元，较之前的业绩指导预期范围下限上调了15美分。运营现金流预计在58亿美元至61亿美元之间，自由现金流预计在52亿美元至55亿美元之间。公司全年业绩指导概要参见表1。第一季度业绩霍尼韦尔第一季度报告销售额与去年持平，内生式销售额下降2%。有关第一季度的具体财务数据请参阅原文表2和表3。航空航天集团第一季度内生式销售额下降22%，主要受到航班时间缩减带来的商用航空售后需求降低、商用原始设备销售疲软以及国际防务产品销量下降等因素持续影响，而美国防务及航天业务的增长部分抵消了上述不利影响。部门利润率上 涨110个基点至29.0%。利润率的增长由诸多因素决定，包括卓越的商业运营、成本管理和一次性收益等。智能建筑科技集团第一季度内生式销售 额上涨2%，主要得益于产品需求和建筑解决方案服务的增长。受服务和安防产品订单强劲增长的驱动，公司的订单同比实现了个位数中值的增长 速度。在卓越商业运营、生产力增长（不考虑通货膨胀）的推动下，部门利润率增加110个基点至22.5%。 特性材料和技术集团第一季度内生式销售额下降6%，主要由于过程控制部自动化项目的持续延迟、智慧能源业务量下降以及UOP技术许可和催化剂等需求的下降，而高性能材料部业务受氟产品和特殊材料的强劲需求的推动持续增长，部分抵消了上述不利影响。受到销售组合因素的影响，该集团部门利润率下降290个基点至18.5% ，而卓越的商业运营部分抵消了这一不利因素。安全与生产力解决方案集团第一季度内生式销售额增长47%，主要得益于仓储和工作流程解决方案、个人防护装备业务和生产力解决方案和服务业务取得两位数增长。受个人防护装备业务以及生产力解决方案和服务业务的强劲增长推动，订单 连续第六个季度实现两位数同比增长。未交货订单连续第三个季度保持在40亿美元以上。得益于销量的增加，部门利润率增加180个基点至14.3% 。
Japanese News:
米エネルギーWabash Valley Resourcesは4月12日、ブルー水素生産のためのCCS（炭素回収・貯留）プロジェクトで、重工業世界大手ハネウェルの石油精製子会社ハネウェルUOPを開発事業者に選定したと発表した。CCS（炭素回収・貯留）プロジェクトの規模は米国最大規模となる見込み。 ハネウェルUOPは今回、Wabash Valley ResourcesへCCS技術を提供し、米インディアナ州ウェストテレホートのガス化プラントで、ブルー水素を生成する。同プラントは、Wabash Valley Resourcesが2016年に購入し、現在、ブルー水素生産工場への転換を進めている。CCUにより、二酸化炭素を年間165万t削減できるという。米エネルギー省（DOE）からも助成対象に選定された。 ハネウェルUOPが持つガス改質技術「Ortloff CO2」は、合成ガスから二酸化炭素を80%取り除いた後に、圧力変動吸着法（PSA法）で残存合成ガスから純度の高い液体二酸化炭素を生成し、副生物として水素を得る。回収した二酸化炭素は液体状態のため、扱いが容易であり、運搬後、地下に貯留する。同社が持つ「Polybed PSA」技術では、エチレンやメタノールのオフ・ガスや、部分酸化合成ガスも原料にできる。また、酸性ガス除去や脱水・脱硫技術の「MOLSIV」の技術ライセンスも提供する。 米エネルギー省の水素計画では、燃料電池および水素エネルギー協会（FCHEA）の調査を基に、水素経済が、2030年までに年間1,400億米ドル（約15兆円）の市場規模となり、雇用70万人分を創出すると予測。2050年までには、年間7,500億米ドル（約81兆円）の市場規模となり、雇用340万人分を創出すると見込んでいる。 米国では3月16日に、ヴァレロ・エナジーと、ブラックロックの「グローバル・エナジー&パワー・インフラストラクチャーファンド3号」が、Navigator Energy Servicesと協働し、中西部に大規模なCCSプラントを建設することも発表済み。総長1,200マイル（約1,920km）のパイプラインを中西部のネブラスカ州、アイオワ州、サウスダコタ州、ミネソタ州、イリノイ州の5州に跨って敷設し、年間500万tの液体二酸化炭素排出量をイリノイ州南部の貯留施設に輸送。そこで貯留するというもの。協力企業が増えれば、処理能力を年間800万tにまで拡大することも検討している。操業開始は2024年を後半を予定。
Spanish News:
Honeywell (NYSE:HON) presentó el Viernes sus beneficios correspondientes al primer trimestre del año, cifras que superaron las previsiones de los analistas. Los ingresos, por su parte, se situaron por encima de lo esperado. La compañía presentó un beneficio por acción de $1,92 y una facturación de $8,45B. Los analistas encuestados por Investing.com esperaban un BPA de $1,8 y unos ingresos de $8,08B En lo que llevamos de año, la acción de Honeywell avanza un 7%, por debajo de lo esperado al Dow Jones, lo que representa una subida del 10%. Con sus cifras, Honeywell se une este mes a otras grandes del sector Bienes de capital. El pasado Miércoles, ASML ADR presentó un BPA para el primer trimestre del año de $3,86 y unos ingresos de $5,25B, frente a la previsión de BPA de $3,06 y de ingresos de $4,76B. Los beneficios de Lockheed Martin superaron las previsiones de los analistas lanzadas el pasado Martes, con un BPA para el primer trimestre de $6,56 y unos ingresos de $16,26B. Los analistas encuestados por Investing.com esperaban un BPA de $6,31 y unos ingresos de $16,38B. Manténgase al día de todas las cifras empresariales visitando nuestro Calendario de Resultados.
Greek News:
Η Honeywell ανακοίνωσε δύο σημαντικές συμφωνίες στον τομέα της αεροπορικής υποστήριξης και συντήρησης, διευρύνοντας τη διεθνή της παρουσία και ενισχύοντας τις δυνατότητες εξυπηρέτησης σε κρίσιμες αγορές. Συγκεκριμένα, η εταιρεία υπέγραψε πενταετή συμφωνία με την Abu Dhabi Aviation (ADA), ως αποκλειστικός παγκόσμιος διανομέας, με εξαίρεση των αγορών των ΗΠΑ και Ιαπωνίας, για τις μονάδες Multifunction Control Display Units (MCDU) που χρησιμοποιούνται σε ελικόπτερα Leonardo AW139. Η ADA, με πολυετή εμπειρία στη προμήθεια και υποστήριξη αεροπορικού εξοπλισμού στη Μέση Ανατολή, θα επιτρέψει στην Honeywell να εφαρμόσει προσαρμοσμένα επιχειρησιακά προγράμματα που συντελούν στη μείωση του κόστους και την επιβράδυνση της τεχνολογικής απαξίωσης των προϊόντων. Παράλληλα, η Honeywell προχώρησε στην υπογραφή δεκαετούς, μη αποκλειστικής συμφωνίας με την GKN Aerospace’s Fokker Landing Gear στην Ολλανδία, για την ίδρυση εξουσιοδοτημένου κέντρου συντήρησης των συστημάτων τροχών και φρένων του μαχητικού F-35. Η συνεργασία αυτή στοχεύει στην ενίσχυση της τεχνικής υποστήριξης εντός Ευρώπης και στην αποτελεσματικότερη εξυπηρέτηση των περιφερειακών χειριστών του αεροσκάφους, με ταυτόχρονη μείωση του λειτουργικού κόστους.
Question:
What are the company's capital expenditures and their strategic significance from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | What are the company's capital expenditures and their strategic significance from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | 1. Safety and Productivity Solutions – strong growth in Warehouse and Workflow Solutions and PPE
2. Aerospace – still the largest segment by revenue.
3. Honeywell Building Technologies – growth in building products and services.
Financial Statement Evidence: None - cannot find revenue breakdown |
JNJ_20200429 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 |
|:--------------------------------------------------------------------------------------------------------|:-----------|:---------------|:-----------|:------------------|:-----------|:-----------|:-----------|
| | | | | | | | |
| | | | | | | | |
| | | March 29, 2020 | | December 29, 2019 | | | |
| ASSETS | | | | | | | |
| Current assets: | | | | | | | |
| Cash and cash equivalents | | $ | 15,530 | | | 17,305 | |
| Marketable securities | | 2,494 | | | 1,982 | | |
| Accounts receivable, trade, less allowances for doubtful accounts and credit losses $234 (2019, $226) | | 14,874 | | | 14,481 | | |
| Inventories (Note 2) | | 8,868 | | | 9,020 | | |
| Prepaid expenses and other | | 2,358 | | | 2,392 | | |
| Assets held for sale (Note 10) | | 102 | | | 94 | | |
| Total current assets | | 44,226 | | | 45,274 | | |
| Property, plant and equipment at cost | | 43,247 | | | 43,332 | | |
| Less: accumulated depreciation | | (25,846 | ) | | (25,674 | ) | |
| Property, plant and equipment, net | | 17,401 | | | 17,658 | | |
| Intangible assets, net (Note 3) | | 47,338 | | | 47,643 | | |
| Goodwill (Note 3) | | 33,471 | | | 33,639 | | |
| Deferred taxes on income (Note 5) | | 7,539 | | | 7,819 | | |
| Other assets | | 5,042 | | | 5,695 | | |
| Total assets | | $ | 155,017 | | | 157,728 | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | |
| Current liabilities: | | | | | | | |
| Loans and notes payable | | $ | 2,190 | | | 1,202 | |
| Accounts payable | | 7,411 | | | 8,544 | | |
| Accrued liabilities | | 8,384 | | | 9,715 | | |
| Accrued rebates, returns and promotions | | 11,608 | | | 10,883 | | |
| Accrued compensation and employee related obligations | | 2,166 | | | 3,354 | | |
| Accrued taxes on income (Note 5) | | 1,930 | | | 2,266 | | |
| Total current liabilities | | 33,689 | | | 35,964 | | |
| Long-term debt (Note 4) | | 25,393 | | | 26,494 | | |
| Deferred taxes on income(Note 5) | | 5,766 | | | 5,958 | | |
| Employee related obligations (Note 6) | | 10,529 | | | 10,663 | | |
| Long-term taxes payable (Note 5) | | 7,402 | | | 7,444 | | |
| Other liabilities | | 10,944 | | | 11,734 | | |
| Total liabilities | | 93,723 | | | 98,257 | | |
| Commitments and Contingencies (Note 11) | | | | | | | |
| Shareholders’ equity: | | | | | | | |
| Common stock — par value $1.00 per share (authorized 4,320,000,000 shares; issued 3,119,843,000 shares) | | $ | 3,120 | | | 3,120 | |
| Accumulated other comprehensive income (loss) (Note 7) | | (16,243 | ) | | (15,891 | ) | |
| Retained earnings | | 112,901 | | | 110,659 | | |
| Less: common stock held in treasury, at cost(487,451,000and 487,336,000 shares) | | 38,484 | | | 38,417 | | |
| Total shareholders’ equity | | 61,294 | | | 59,471 | | |
| Total liabilities and shareholders' equity | | $ | 155,017 | | | 157,728 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 |
|:--------------------------------------------------------------------------------------------------------|:-----------|:--------------------------|:-----------|:--------------|:-----------|:-----------|:-----------|
| JOHNSON & JOHNSON AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited; Dollars in Millions) | | | | | | | |
| | | | | | | | |
| | | Fiscal Three Months Ended | | | | | |
| | | March 29,2020 | | March 31,2019 | | | |
| CASH FLOWS FROM OPERATING ACTIVITIES | | | | | | | |
| Net earnings | | $ | 5,796 | | | 3,749 | |
| Adjustments to reconcile net earnings to cash flows from operating activities: | | | | | | | |
| Depreciation and amortization of property and intangibles | | 1,747 | | | 1,761 | | |
| Stock based compensation | | 263 | | | 258 | | |
| Asset write-downs | | 11 | | | 913 | | |
| Contingent consideration reversal | | (983 | ) | | — | | |
| Net gain on sale of assets/businesses | | — | | | (72 | ) | |
| Deferred tax provision | | 54 | | | (362 | ) | |
| Accounts receivable allowances and credit losses | | 22 | | | (3 | ) | |
| Changes in assets and liabilities, net of effects from acquisitions and divestitures: | | | | | | | |
| (Increase) / Decrease in accounts receivable | | (812 | ) | | 157 | | |
| Increase in inventories | | (159 | ) | | (369 | ) | |
| Decrease in accounts payable and accrued liabilities | | (2,523 | ) | | (1,833 | ) | |
| Decrease / (Increase) in other current and non-current assets | | 271 | | | (488 | ) | |
| Decrease in other current and non-current liabilities | | (329 | ) | | (168 | ) | |
| | | | | | | | |
| NET CASH FLOWS FROM OPERATING ACTIVITIES | | 3,358 | | | 3,543 | | |
| | | | | | | | |
| CASH FLOWS FROM INVESTING ACTIVITIES | | | | | | | |
| Additions to property, plant and equipment | | (625 | ) | | (656 | ) | |
| Proceeds from the disposal of assets/businesses, net | | 17 | | | 253 | | |
| Acquisitions, net of cash acquired | | (939 | ) | | (1,683 | ) | |
| Purchases of investments | | (2,064 | ) | | (730 | ) | |
| Sales of investments | | 1,544 | | | 1,495 | | |
| Proceeds from credit support agreements, net | | 1,743 | | | — | | |
| Other | | (257 | ) | | (96 | ) | |
| | | | | | | | |
| NET CASH USED BY INVESTING ACTIVITIES | | (581 | ) | | (1,417 | ) | |
| | | | | | | | |
| CASH FLOWS FROM FINANCING ACTIVITIES | | | | | | | |
| Dividends to shareholders | | (2,505 | ) | | (2,396 | ) | |
| Repurchase of common stock | | (1,711 | ) | | (2,206 | ) | |
| Proceeds from short-term debt | | 10 | | | 13 | | |
| Repayment of short-term debt | | (18 | ) | | (16 | ) | |
| Repayment of long-term debt | | (11 | ) | | (1,002 | ) | |
| Proceeds from the exercise of stock options/employee withholding tax on stock awards, net | | 332 | | | 94 | | |
| Other | | (412 | ) | | (3 | ) | |
| | | | | | | | |
| NET CASH USED BY FINANCING ACTIVITIES | | (4,315 | ) | | (5,516 | ) | |
| | | | | | | | |
| Effect of exchange rate changes on cash and cash equivalents | | (237 | ) | | 17 | | |
| Decrease in cash and cash equivalents | | (1,775 | ) | | (3,373 | ) | |
| Cash and Cash equivalents, beginning of period | | 17,305 | | | 18,107 | | |
| CASH AND CASH EQUIVALENTS, END OF PERIOD | | $ | 15,530 | | | 14,734 | |
| | | | | | | | |
| Acquisitions | | | | | | | |
| Fair value of assets acquired | | $ | 1,136 | | | 2,154 | |
| Fair value of liabilities assumed and noncontrolling interests | | (197 | ) | | (471 | ) | |
| Net cash paid for acquisitions | | $ | 939 | | | 1,683 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 |
|:-----------------------------------------------|:-----------|:---------------------------|:-----------|:----------------|:-----------|:--------------|:-----------|:----------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | Fiscal First Quarter Ended | | | | | | | | | | | | |
| | | March 29,2020 | | Percentto Sales | | March 31,2019 | | Percentto Sales | | | | | | |
| Sales to customers (Note 9) | | $ | 20,691 | | | 100.0 | % | | $ | 20,021 | | | 100.0 | % |
| Cost of products sold | | 7,062 | | | 34.1 | | | 6,615 | | | 33.0 | | | |
| Gross profit | | 13,629 | | | 65.9 | | | 13,406 | | | 67.0 | | | |
| Selling, marketing and administrative expenses | | 5,203 | | | 25.1 | | | 5,219 | | | 26.1 | | | |
| Research and development expense | | 2,580 | | | 12.5 | | | 2,858 | | | 14.3 | | | |
| In-process research and development | | — | | | — | | | 890 | | | 4.4 | | | |
| Interest income | | (67 | ) | | (0.3 | ) | | (99 | ) | | (0.5 | ) | | |
| Interest expense, net of portion capitalized | | 25 | | | 0.1 | | | 102 | | | 0.5 | | | |
| Other (income) expense, net | | (679 | ) | | (3.3 | ) | | (22 | ) | | (0.1 | ) | | |
| Restructuring (Note 12) | | 58 | | | 0.3 | | | 36 | | | 0.2 | | | |
| Earnings before provision for taxes on income | | 6,509 | | | 31.5 | | | 4,422 | | | 22.1 | | | |
| Provision for taxes on income (Note 5) | | 713 | | | 3.5 | | | 673 | | | 3.4 | | | |
| NET EARNINGS | | $ | 5,796 | | | 28.0 | % | | $ | 3,749 | | | 18.7 | % |
| | | | | | | | | | | | | | | |
| NET EARNINGS PER SHARE (Note 8) | | | | | | | | | | | | | | |
| Basic | | $ | 2.20 | | | | | $ | 1.41 | | | | | |
| Diluted | | $ | 2.17 | | | | | $ | 1.39 | | | | | |
| | | | | | | | | | | | | | | |
| AVG. SHARES OUTSTANDING | | | | | | | | | | | | | | |
| Basic | | 2,633.7 | | | | | 2,660.8 | | | | | | | |
| Diluted | | 2,671.0 | | | | | 2,698.8 | | | | | | | |
---
English News:
The Janssen Pharmaceutical Companies of Johnson & Johnson announced today the U.S. Food and Drug Administration (FDA) approved DARZALEX FASPRO (daratumumab and hyaluronidase-fihj), a new subcutaneous formulation of daratumumab. DARZALEX FASPRO is approved in four regimens across five indications in multiple myeloma patients, including newly diagnosed, transplant-ineligible patients as well as relapsed or refractory patients.As a fixed-dose formulation, DARZALEX FASPRO can be administered over approximately three to five minutes, significantly less time than DARZALEX,which is given intravenously over hours. In the Phase 3 COLUMBA study supporting the approval, DARZALEX FASPRO demonstrated a consistent overall response rate (ORR) and pharmacokinetics and a similar safety profile compared with intravenous DARZALEX in patients with relapsed or refractory multiple myeloma. In addition, there was a nearly two-thirds reduction in systemic administration-related reactions (ARRs) for DARZALEX FASPRO compared to intravenous DARZALEX (13 percent vs. 34 percent, respectively). Continue Reading (PRNewsfoto/The Janssen Pharmaceutical Comp) \"This approval exemplifies Janssen's mission and commitment to bringing together passion, science and ingenuity to advance novel solutions for patients,\" said Mathai Mammen, M.D., Ph.D., Global Head, Janssen Research & Development, LLC. \"We are excited about the potential of this meaningful innovation in transforming the treatment experience for patients with multiple myeloma where DARZALEX FASPRO can be administered in approximately three to five minutes, significantly less time than intravenous DARZALEX, which is given over hours. Based on its favorable profile, we are accelerating the development of DARZALEX FASPRO and evaluating its potential in multiple ongoing studies.\" Click to Tweet: #NEWS: #FDA approves subcutaneous CD38-directed antibody for the treatment of multiple #myeloma. See here for more details: https://bit.ly/2VozhzY The approval is based on data from the Phase 3 COLUMBA (MMY3012)and Phase 2 PLEIADES (MMY2040) studies.1,2 In the COLUMBA study, the ORR was non-inferior for patients taking DARZALEX FASPROas monotherapycompared to those taking intravenous DARZALEXas monotherapy (41 percent vs. 37 percent, respectively). In addition, there were fewer systemic ARRs with DARZALEX FASPRO versus intravenous DARZALEX (13 percent vs. 34 percent, respectively). In a pooled safety population of 490 patients who received DARZALEXFASPRO as monotherapy or in combination, the ARR rate wFas 11 percent. The safety profiles of intravenous DARZALEX and DARZALEX FASPRO were otherwise similar.1 Additionally, in the Phase 2 PLEIADES study evaluating the efficacy and safety of DARZALEX FASPRO in combination therapies, objective responses were demonstrated in combination with bortezomib, melphalan and prednisone (D-VMP) in newly diagnosed transplant ineligible patients. In addition, objective responses were demonstrated in combination with lenalidomide and dexamethasone (D-Rd) in relapsed or refractory patients who received one prior line of therapy.2\"The Multiple Myeloma Research Foundation shares a common goal with Janssen in advancing treatments for multiple myeloma and addressing the unmet needs of this patient community,\" said Paul Giusti, President and CEO of the Multiple Myeloma Research Foundation (MMRF). \"The approval of DARZALEXFASPRO marks an important milestone which will help make a positive difference in the lives of patients who depend on this effective therapy.\"Click to Tweet: [emailprotected] talks about advancing treatments for multiple #myeloma and addressing patient needs with latest #FDA approval. Read more here: https://bit.ly/2VozhzY \"Since the approval of daratumumab, a robust body of evidence has established its use as a treatment for multiple myeloma in both the frontline and relapsed and refractory settings,\" said Saad Z. Usmani, M.D., Division Chief of Plasma Cell Disorders, Levine Cancer Institute. \"With DARZALEX FASPRO there may be fewer administration-related reactions compared to intravenous DARZALEX, providing an additional treatment option that may help patients, oncologists and nursing staff.\"DARZALEX FASPROis co-formulated with recombinant human hyaluronidase PH20 (rHuPH20) [Halozyme'sENHANZEdrug delivery technology].DARZALEX FASPRO will be available to patients and physicians as soon as the week of May 11, 2020. The intravenous DARZALEX formulation will also remain available as an option for patients and their physicians. DARZALEX FASPROis approved in combination with bortezomib, melphalan and prednisone in newly diagnosed patients who are ineligible for autologous stem cell transplant, in combination with lenalidomide and dexamethasone in newly diagnosed patients who are ineligible for autologous stem cell transplant and in patients with relapsed or refractory multiple myeloma who have received at least one prior therapy, in combination with bortezomib and dexamethasone in patients who have received at least one prior therapy, as monotherapy, in patients who have received at least three prior lines of therapy including a proteasome inhibitor (PI) and an immunomodulatory agent or who are double-refractory to a PI and an immunomodulatory agent.The U.S. FDA approval of DARZALEX FASPRO marks the first approval for this innovative subcutaneous formulation globally, and Janssen continues to work with health authorities around the world in an effort to bring this new treatment option to patients living with multiple myeloma.Access to DARZALEX FASPRO (daratumumab and hyaluronidase-fihj)Janssen offers comprehensive access and support information, resources and services to assist U.S. patients in gaining access to DARZALEX FASPROthrough the Janssen CarePath Program. Through the program, eligible commercial patients pay no more than $5 per injection, regardless of individual income level. Information on the enrollment process is available online atwww.CarePathSavingsProgram.com/DARZALEX.For more information, healthcare providers or patients can contact: 1-844-55DARZA (1-844-553-2792). Information will also be available atwww.DARZALEX.com. Dedicated case coordinators are available to work with both healthcare providers and patients.About the COLUMBA Study 1The randomized, open-label, multicenter Phase 3 COLUMBA study (MMY3012) included 522 patients (median age of 67 years) with multiple myeloma who had received at least three prior lines of therapy including a proteasome inhibitor (PI) and an immunomodulatory drug (IMiD), or whose disease was refractory to both a PI and an IMiD. In the arm that received DARZALEX FASPRO(n=263), patients received a fixed dose of DARZALEX FASPRO1,800 milligrams (mg), co-formulated with recombinant human hyaluronidase PH20 (rHuPH20) 2,000 Units per milliliter (U/mL), subcutaneously weekly for Cycles 1 2, every two weeks for Cycles 3 6 and every four weeks for Cycle 7 and thereafter. In the intravenous DARZALEXarm (n=259), patients received DARZALEXfor intravenous infusion 16 milligrams per kilogram (mg/kg) weekly for Cycles 1 2, every two weeks for Cycles 3 6 and every four weeks for Cycle 7 and thereafter. Each cycle was 28 days. In the arm that received DARZALEX FASPRO, itwas given in a fixed volume of 15 mL over three to five minutes; the median injection time was five minutes. In the arm that received theintravenous administration, the median durations of the first, second and subsequent intravenous DARZALEXinfusions were 7.0, 4.3 and 3.4 hours, respectively.Patients in both arms continued treatment until disease progression or unacceptable toxicity.About the PLEIADES Study 2The non-randomized, open-label, parallel assignment Phase 2 PLEIADES study (MMY2040) included more than 240 adults with multiple myeloma, including 67 patients with newly diagnosed multiple myeloma who were treated with 1,800 mg of DARZALEX FASPROin combination with bortezomib, melphalan, and prednisone (D-VMP) and 65 patients with relapsed or refractory disease who were treated with 1,800 mg of DARZALEX FASPROplus lenalidomide and dexamethasone (D-Rd). The primary endpoint for the D-VMP and D-Rd cohorts was overall response rate.About DARZALEXand DARZALEX FASPROJanssen is committed to exploring the potential of DARZALEX (daratumumab) for patients with multiple myeloma across the spectrum of the disease. DARZALEX has been approved in seven indications, three of which are in the frontline setting, including newly diagnosed patients who are transplant eligible and ineligible.DARZALEX has become a backbone therapy in the treatment of multiple myeloma, having been used in the treatment of more than 58,000 patients in the U.S. alone since its U.S. FDA approval in 2015. DARZALEX is the first CD38-directed antibody approved globally to treat multiple myeloma and in 2020, DARZALEX FASPRO(daratumumab and hyaluronidase human-fihj) follows as the only subcutaneous CD38-directed antibody approved to treat patients with multiple myeloma.2CD38 is a surface protein that is present in high numbers on multiple myeloma cells, regardless of the stage of disease.4 DARZALEX binds to CD38 and inhibits tumor cell growth causing myeloma cell death.5 DARZALEX may also have an effect on normal cells.3 Data across seven Phase 3 clinical trials, in both the frontline and relapsed settings, have shown that DARZALEX-based regimens resulted in significant improvement in progression-free survival and/or overall survival. 4,5,6,7,8,9,10,11 Additional studies are underway to assess the efficacy and safety of DARZALEXFASPRO in the treatment of other malignant and pre-malignant hematologic diseases in which CD38 is expressed, including smoldering myeloma and in amyloidosis.12,13Key DARZALEX Milestones: In August 2012, Janssen entered into an exclusive global license and development agreement with Genmab A/S to develop, manufacture, and commercialize DARZALEX.14 In November 2015 DARZALEX received initial U.S. FDA approval as a monotherapy for the treatment of patients with multiple myeloma who have received at least three prior lines of therapy, including a proteasome inhibitor (PI) and an immunomodulatory agent, or who are double refractory to a PI and an immunomodulatory agent.15 In November 2016 DARZALEX received an additional approval in combination with lenalidomide and dexamethasone, or bortezomib and dexamethasone, for the treatment of patients with multiple myeloma who have received at least one prior therapy.16 In June 2017, DARZALEX received approval in combination with pomalidomide and dexamethasone for the treatment of patients with multiple myeloma who have received at least two prior therapies, including lenalidomide and a PI.17 In May 2018, DARZALEX received approval in combination with bortezomib, melphalan, and prednisone for the treatment of patients with newly diagnosed multiple myeloma who are ineligible for ASCT, making it the first monoclonal antibody approved for newly diagnosed patients with this disease.18 In June 2019, DARZALEX received approval in combination with lenalidomide and dexamethasone for the treatment of patients with newly diagnosed multiple myeloma who are transplant ineligible.19 In September 2019, DARZALEX received approval in combination with bortezomib, thalidomide, and dexamethasone for the treatment of newly diagnosed patients who are eligible for autologous stem cell transplant.20 In April 2020, DARZALEX FASPRO, a subcutaneous formulation of DARZALEX, received approval for the treatment of certain patients with newly diagnosed or relapsed/refractory multiple myeloma, including in combination with bortezomib, melphalan and prednisone in newly diagnosed patients who are ineligible for autologous stem cell transplant, in combination with lenalidomide and dexamethasone in newly diagnosed patients who are ineligible for autologous stem cell transplant and in patients with relapsed or refractory multiple myeloma who have received at least one prior therapy, in combination with bortezomib and dexamethasone in patients who have received at least one prior therapy, as monotherapy, in patients who have received at least three prior lines of therapy including a PI and an immunomodulatory agent or who are double-refractory to a PI and an immunomodulatory agent. Please see full Prescribing Information at www.DARZALEX.com. About Multiple MyelomaMultiple myeloma is an incurable blood cancer that affects a type of white blood cell called plasma cells, which are found in the bone marrow.21,22When damaged, these plasma cells rapidly spread and replace normal cells with tumors in the bone marrow. In 2020, it is estimated that 32,270 people will be diagnosed and 12,830 will die from the disease in the U.S.24 While some patients with multiple myeloma have no symptoms, most patients are diagnosed due to symptoms, which can include bone fracture or pain, low red blood cell counts, tiredness, high calcium levels, kidney problems or infections.23DARZALEX FASPROIMPORTANT SAFETY INFORMATION CONTRAINDICATIONSDARZALEX FASPRO is contraindicated in patients with a history of severe hypersensitivity to daratumumab, hyaluronidase or any of the components of the formulation.WARNINGS AND PRECAUTIONSHypersensitivity And Other Administration ReactionsBoth systemic administration-related reactions, including severe or life-threatening reactions, and local injection-site reactions can occur with DARZALEX FASPRO.Systemic ReactionsIn a pooled safety population of 490patients who received DARZALEX FASPROas monotherapy or in combination, 11% of patients experienced a systemic administration-related reaction (Grade 2: 3.9%, Grade 3: 1.4%). Systemic administration-related reactions occurred in 10% of patients with the first injection, 0.2% with the second injection, and cumulatively 0.8% with subsequent injections. The median time to onset was 3.7hours (range: 9minutes to 3.5days). Of the 84systemic administration-related reactions that occurred in 52patients, 73(87%) occurred on the day of DARZALEX FASPRO administration. Delayed systemic administration-related reactions have occurred in less than 1% of the patients.Severe reactions included hypoxia, dyspnea, hypertension and tachycardia. Other signs and symptoms of systemic administration-related reactions may include respiratory symptoms, such as bronchospasm, nasal congestion, cough, throat irritation, allergic rhinitis, and wheezing, as well as anaphylactic reaction, pyrexia, chest pain, pruritis, chills, vomiting, nausea, and hypotension.Pre-medicate patients with histamine-1 receptor antagonist, acetaminophen and corticosteroids. Monitor patients for systemic administration-related reactions, especially following the first and second injections. For anaphylactic reaction or life-threatening (Grade 4) administration-related reactions, immediately and permanently discontinue DARZALEX FASPRO. Consider administering corticosteroids and other medications after the administration of DARZALEX FASPRO depending on dosing regimen and medical history to minimize the risk of delayed (defined as occurring the day after administration) systemic administration-related reactions.Local ReactionsIn this pooled safety population, injection-site reactions occurred in 8% of patients, including Grade2 reactions in 0.6%. The most frequent (>1%) injection-site reaction was injection site erythema. These local reactions occurred a median of 7minutes (range: 0minutes to 4.7days) after starting administration of DARZALEX FASPRO. Monitor for local reactions and consider symptomatic management.NeutropeniaDaratumumab may increase neutropenia induced by background therapy. Monitor complete blood cell counts periodically during treatment according to manufacturer's prescribing information for background therapies. Monitor patients with neutropenia for signs of infection. Consider withholding DARZALEX FASPRO until recovery of neutrophils. In lower body weight patients receiving DARZALEX FASPRO, higher rates of Grade 3-4 neutropenia were observed.ThrombocytopeniaDaratumumab may increase thrombocytopenia induced by background therapy. Monitor complete blood cell counts periodically during treatment according to manufacturer's prescribing information for background therapies. Consider withholding DARZALEX FASPRO until recovery of platelets.Embryo-Fetal ToxicityBased on the mechanism of action, DARZALEX FASPRO can cause fetal harm when administered to a pregnant woman. DARZALEX FASPRO may cause depletion of fetal immune cells and decreased bone density. Advise pregnant women of the potential risk to a fetus. Advise females with reproductive potential to use effective contraception during treatment with DARZALEX FASPRO and for 3months after the last dose.The combination of DARZALEX FASPRO with lenalidomide is contraindicated in pregnant women, because lenalidomide may cause birth defects and death of the unborn child. Refer to the lenalidomide prescribing information on use during pregnancy.Interference with Serological TestingDaratumumab binds to CD38 on red blood cells (RBCs) and results in a positive Indirect Antiglobulin Test (Indirect Coombs test). Daratumumab-mediated positive indirect antiglobulin test may persist for up to 6months after the last daratumumab administration. Daratumumab bound to RBCs masks detection of antibodies to minor antigens in the patient's serum. The determination of a patient's ABO and Rh blood type are not impacted.Notify blood transfusion centers of this interference with serological testing and inform blood banks that a patient has received DARZALEX FASPRO. Type and screen patients prior to starting DARZALEX FASPRO.Interference with Determination of Complete ResponseDaratumumab is a human IgG kappa monoclonal antibody that can be detected on both the serum protein electrophoresis (SPE) and immunofixation (IFE) assays used for the clinical monitoring of endogenous M-protein. This interference can impact the determination of complete response and of disease progression in some DARZALEX FASPRO -treated patients with IgG kappa myeloma protein.Adverse ReactionsThe most common adverse reaction (20%) with DARZALEX FASPRO monotherapy is: upper respiratory tracts infection. The most common adverse reactions (20%) with D-VMP are upper respiratory tract infection, constipation, nausea, fatigue, pyrexia, peripheral sensory neuropathy, diarrhea, cough, insomnia, vomiting, and back pain. The most common adverse reactions (20%) with D-Rd are fatigue, diarrhea, upper respiratory tract infection, muscle spasms, constipation, pyrexia, pneumonia and dyspnea. The most common hematology laboratory abnormalities (40%) with DARZALEX FASPRO are decreased leukocytes, decreased lymphocytes, decreased neutrophils, decreased platelets, and decreased hemoglobin.Please see full Prescribing Information at www.DARZALEX.com. DARZALEX IMPORTANT SAFETY INFORMATIONCONTRAINDICATIONSDARZALEX (daratumumab) is contraindicated in patients with a history of severe hypersensitivity (e.g., anaphylactic reactions) to daratumumab or any of the components of the formulation.WARNINGS AND PRECAUTIONSInfusion Reactions DARZALEX can cause severe and/or serious infusion reactions, including anaphylactic reactions. In clinical trials, approximately half of all patients experienced an infusion reaction. Most infusion reactions occurred during the first infusion and were Grade 1-2. Infusion reactions can also occur with subsequent infusions. Nearly all reactions occurred during infusion or within 4 hours of completing DARZALEX.Prior to the introduction of post-infusion medication in clinical trials, infusion reactions occurred up to 48 hours after infusion. Severe reactions have occurred, including bronchospasm, hypoxia, dyspnea, hypertension, laryngeal edema, and pulmonary edema. Signs and symptoms may include respiratory symptoms, such as nasal congestion, cough, throat irritation, as well as chills, vomiting, and nausea. Less common symptoms were wheezing, allergic rhinitis, pyrexia, chest discomfort, pruritus, and hypotension.Pre-medicate patients with antihistamines, antipyretics, and corticosteroids. Frequently monitor patients during the entire infusion. Interrupt infusion for reactions of any severity and institute medical management as needed. Permanently discontinue therapy if an anaphylactic reaction or life-threatening (Grade 4) reaction occurs and institute appropriate emergency care.For patients with Grade 1, 2, or 3reactions, reduce the infusion rate when re-starting the infusion.To reduce the risk of delayed infusion reactions, administer oral corticosteroids to all patients following DARZALEX infusions. Patients with a history of chronic obstructive pulmonary disease may require additional post-infusion medications to manage respiratory complications. Consider prescribing short- and long-acting bronchodilators and inhaled corticosteroids for patients with chronic obstructive pulmonary disease.Interference with Serological Testing Daratumumab binds to CD38 on red blood cells (RBCs) and results in a positive Indirect Antiglobulin Test (Indirect Coombs test). Daratumumab-mediated positive indirect antiglobulin test may persist for up to 6 months after the last daratumumab infusion. Daratumumab bound to RBCs masks detection of antibodies to minor antigens in the patient's serum. The determination of a patient's ABO and Rh blood type are not impacted. Notify blood transfusion centers of this interference with serological testing and inform blood banks that a patient has received DARZALEX. Type and screen patients prior to starting DARZALEX.Neutropenia and Thrombocytopenia DARZALEX may increase neutropenia and/or thrombocytopenia induced by background therapy. Monitor complete blood cell counts periodically during treatment according to the manufacturer's prescribing information for background therapies. Monitor patients with neutropenia for signs of infection.DARZALEX dose delay may be required to allow recovery of neutrophils and/or platelets. No dose reduction of DARZALEX is recommended. Consider supportive care with growth factors for neutropenia or transfusions for thrombocytopenia.Interference with Determination of Complete Response Daratumumab is a human IgG kappa monoclonal antibody that can be detected on both the serum protein electrophoresis (SPE) and immunofixation (IFE) assays used for the clinical monitoring of endogenous M-protein. This interference can impact the determination of complete response and of disease progression in some patients with IgG kappa myeloma protein.Adverse Reactions The most frequently reported adverse reactions (incidence 20%) were: infusion reactions, neutropenia, thrombocytopenia, fatigue, asthenia, nausea, diarrhea, constipation, decreased appetite, vomiting, muscle spasms, arthralgia, back pain, pyrexia, chills, dizziness, insomnia, cough, dyspnea, peripheral edema, peripheral sensory neuropathy, bronchitis, pneumonia, and upper respiratory tract infection.DARZALEX in combination with lenalidomide and dexamethasone (DRd): The most frequent (20%) adverse reactions for newly diagnosed or relapsed/refractory patients were, respectively, infusion reactions (41%, 48%), diarrhea (57%, 43%), nausea (32%, 24%), fatigue (40%, 35%), pyrexia (23%, 20%), upper respiratory tract infection (52%, 65%), muscle spasms (29%, 26%), dyspnea (32%, 21%), and cough (30%, 30%). In newly diagnosed patients, constipation (41%), peripheral edema (41%), back pain (34%), asthenia (32%), bronchitis (29%), pneumonia (26%), peripheral sensory neuropathy (24%), and decreased appetite (22%) were also reported. In newly diagnosed patients, serious adverse reactions (2% compared to Rd)were pneumonia (15%), bronchitis (4%), and dehydration (2%), and treatment-emergent Grade 3-4 hematology laboratory abnormalities (20%) were neutropenia (56%), lymphopenia (52%), and leukopenia (35%). In relapsed/refractory patients, serious adverse reactions (2% compared to Rd)were pneumonia (12%), upper respiratory tract infection (7%), influenza (3%), and pyrexia (3%), and treatment-emergent Grade 3-4 hematology laboratory abnormalities (20%) were neutropenia (53%) and lymphopenia (52%). DARZALEXin combination with bortezomib, melphalan, and prednisone (DVMP): The most frequently reported adverse reactions (20%) were upper respiratory tract infection (48%), infusion reactions (28%), and peripheral edema (21%). Serious adverse reactions (2% compared to the VMP arm) were pneumonia (11%), upper respiratory tract infection (5%), and pulmonary edema (2%). Treatment-emergent Grade 3-4 hematology laboratory abnormalities (20%) were lymphopenia (58%), neutropenia (44%), and thrombocytopenia (38%).DARZALEX in combination with bortezomib and dexamethasone (DVd): Themost frequently reported adverse reactions (20%) were peripheral sensory neuropathy (47%), infusion reactions (45%), upper respiratory tract infection (44%), diarrhea (32%), cough (27%), peripheral edema (22%), and dyspnea (21%). The overall incidence of serious adverse reactions was 42%. Serious adverse reactions (2% compared to Vd) were upper respiratory tract infection (5%), diarrhea (2%), and atrial fibrillation (2%). Treatment-emergent Grade 3-4 hematology laboratory abnormalities (20%) were lymphopenia (48%) and thrombocytopenia (47%).DARZALEX in combination with bortezomib, thalidomide, and dexamethasone (DVTd): The most frequent adverse reactions (20%) were infusion reactions (35%), nausea (30%), upper respiratory tract infection (27%), pyrexia (26%), and bronchitis (20%). Serious adverse reactions (2% compared to the VTd arm) were bronchitis (DVTd 2% vs. VTd <1%)and pneumonia (DVTd 6% vs. VTd 4%). Treatment-emergent Grade 3-4 hematology laboratory abnormalities (20%) were lymphopenia (59%), neutropenia (33%), and leukopenia (24%).DARZALEX in combination with pomalidomide and dexamethasone (DPd): Themost frequent adverse reactions (>20%) were fatigue (50%), infusion reactions (50%), upper respiratory tract infection (50%), cough (43%), diarrhea (38%), constipation (33%), dyspnea (33%), nausea (30%), muscle spasms (26%), back pain (25%), pyrexia (25%), insomnia (23%), arthralgia (22%), dizziness (21%), and vomiting (21%). The overall incidence of serious adverse reactions was 49%. Serious adverse reactions reported in 5% of patients included pneumonia (7%).Treatment-emergent Grade 3-4 hematologylaboratory abnormalities (20%) were neutropenia (82%), lymphopenia (71%), and anemia (30%). DARZALEX as monotherapy: Themost frequently reported adverse reactions (20%) were infusion reactions (48%), fatigue (39%), nausea (27%), back pain (23%), pyrexia (21%), cough (21%), and upper respiratory tract infection (20%). The overall incidence of serious adverse reactions was 33%. The most frequent serious adverse reactions were pneumonia (6%), general physical health deterioration (3%), and pyrexia (3%). Treatment-emergent Grade 3-4 hematology laboratory abnormalities (20%) were lymphopenia (40%) and neutropenia (20%).Please see full Prescribing Information at www.DARZALEX.com. About the Janssen Pharmaceutical Companies of Johnson & Johnson At Janssen, we're creating a future where disease is a thing of the past. We're the Pharmaceutical Companies of Johnson & Johnson, working tirelessly to make that future a reality for patients everywhere by fighting sickness with science, improving access with ingenuity, and healing hopelessness with heart. We focus on areas of medicine where we can make the biggest difference: Cardiovascular & Metabolism, Immunology, Infectious Diseases & Vaccines, Neuroscience, Oncology, and Pulmonary Hypertension.Learn more at www.janssen.com. Follow us at www.twitter.com/JanssenGlobal. Janssen Research & Development, LLC and Janssen Biotech, Inc. are part of the Janssen Pharmaceutical Companies of Johnson & Johnson.Cautions Concerning Forward-Looking StatementsThis press release contains \"forward-looking statements\" as defined in the Private Securities Litigation Reform Act of 1995 regarding DARZALEX FASPRO. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Janssen Biotech, Inc. and/or Johnson & Johnson. Risks and uncertainties include, but are not limited to: challenges and uncertainties inherent in product research and development, including the uncertainty of clinical success and of obtaining regulatory approvals; uncertainty of commercial success; manufacturing difficulties and delays; competition, including technological advances, new products and patents attained by competitors; challenges to patents; product efficacy or safety concerns resulting in product recalls or regulatory action; changes in behavior and spending patterns of purchasers of health care products and services; changes to applicable laws and regulations, including global health care reforms; and trends toward health care cost containment. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended December 29, 2019, including in the sections captioned \"Cautionary Note Regarding Forward-Looking Statements\" and \"Item 1A. Risk Factors,\" and in the company's most recently filed Quarterly Report on Form 10-Q, and the company's subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.comor on request from Johnson & Johnson. None of the Janssen Pharmaceutical Companies nor Johnson & Johnson undertakes to update any forward-looking statement as a result of new information or future events or developments.ENHANZEis a registered trademark of Halozyme. 1Mateos M-V et al. Efficacy and Safety of the Randomized, Open-Label, Non-inferiority, Phase 3 Study of Subcutaneous (SC) Versus Intravenous (IV) Daratumumab (DARA) Administration in Patients (pts) With Relapsed or Refractory Multiple Myeloma (RRMM): COLUMBA. 2019 American Society of Clinical Oncology Annual Meeting. June 2019.2Janssen Research & Development, LLC. A Study to Evaluate Subcutaneous Daratumumab in Combination With Standard Multiple Myeloma Treatment Regimens. In: ClinicalTrials.gov [Internet]. Bethesda (MD): National Library of Medicine (US). 2000 [cited July 5, 2019]. Available at: https://clinicaltrials.gov/ct2/show/NCT03412565. Identifier: NCT03412565.32020Fedele G et al. CD38 Ligation in Peripheral Blood Mononuclear Cells of Myeloma Patients Induces Release of Protumorigenic IL-6 and Impaired Secretion of IFN Cytokines and Proliferation. Mediators Inflamm. 2013;564687.4Janssen Research & Development, LLC. A Study Comparing Daratumumab, Lenalidomide, and Dexamethasone With Lenalidomide and Dexamethasone in Relapsed or Refractory Multiple Myeloma. In: ClinicalTrials.gov [Internet]. Bethesda (MD): National Library of Medicine (US). 2000-[cited 2018 July 24]. Available at: https://clinicaltrials.gov/ct2/show/NCT02076009?term=mmy3003&rank=1 Identifier: NCT02136134 .5Janssen Research & Development, LLC. Addition of Daratumumab to Combination of Bortezomib and Dexamethasone in Participants With Relapsed or Refractory Multiple Myeloma. In: ClinicalTrials.gov [Internet]. Bethesda (MD): National Library of Medicine (US). 2000-[cited 2018 July 24]. Available at: https://clinicaltrials.gov/ct2/show/NCT02136134?term=mmy3004&rank=1 Identifier: NCT02076009.6Janssen Research & Development, LLC. A Study to Evaluate Daratumumab in Transplant Eligible Participants With Previously Untreated Multiple Myeloma (Cassiopeia). In: ClinicalTrials.gov [Internet]. Bethesda (MD): National Library of Medicine (US). 2000-[cited 2018 July 24]. Available at: https://clinicaltrials.gov/ct2/show/NCT02541383?term=mmy3006 Identifier: NCT02541383.7Janssen Research & Development, LLC. A Study of Combination of Daratumumab and Velcade (Bortezomib) Melphalan-Prednisone (DVMP) Compared to Velcade Melphalan-Prednisone (VMP) in Participants With Previously Untreated Multiple Myeloma In: ClinicalTrials.gov [Internet]. Bethesda (MD): National Library of Medicine (US). 2000-[cited 2018 July 24]. Available at: https://clinicaltrials.gov/ct2/show/NCT02195479?term=mmy3007&rank=1 Identifier: NCT02195479.8Janssen Research & Development, LLC. Study Comparing Daratumumab, Lenalidomide, and Dexamethasone With Lenalidomide and Dexamethasone in Participants With Previously Untreated Multiple Myeloma. In: ClinicalTri
Chinese News:
本周，美股迎来财报季“关键周”。就在大部分行业因“大封锁”叫苦不迭之际，医药股则成为疫情中显著的赢家。继上周的强生、罗氏之后，辉瑞和诺华也于当地时间4月28日发布一季度财报。根据各公司财报显示，第一季度“药企四巨头”业绩表现呈增长趋势，而追踪参与参与新冠研发企业股价的新冠病毒检测治疗指数（Covid-19 Testing&Treatment Index，简称Covid-19 Index），更实在今年上涨了80%，完胜标普500指数大盘。Covid-19 Index目前由29家公司制药公司和生物技术公司组成，这些公司均正在参与测试和治疗新冠病毒，其中包括吉利德科学、Biogen、强生、罗氏、安进、赛诺菲、雅培、Moderna等。按市值计算，其最大的组成部分是强生、罗氏、辉瑞和诺华。截至当地时间4月27日，Covid-19 Index在2020年已经超涨80%。不过，“四巨头”股价在2020年的表现喜忧参半。2020年至今，强生股价已累计上涨3.78%，罗氏股价已累计上涨15.63%，诺华股价已累计下跌4.68%，辉瑞股价已累计下跌3.24%。创新药物销售额逆势增长 作为2019年Fierce Pharma收入前20名的制药企业排行榜的前四强，强生、罗氏、辉瑞和诺华在第一季度的表现备受关注。上周，强生和罗氏率先公布2020财年第一季度财报。强生第一季度销售额为206.91亿美元，去年同期为200.21亿美元，同比增长3.3%；未经调整的净利润为57.96亿美元，同比增长54.6%。按业务来看，第一季度制药部门销售额增长8.7%至111.3亿美元，消费者健康部门销售额增长9.2%至36.25亿美元，而医疗器械部门销售额下降8.2%至59.32亿美元。强生在其财报中指出，用于治疗多发性骨髓瘤的Darzalex销售额同比增长49%，成为强生肿瘤药头牌；用于慢性淋巴细胞白血病(CLL)的Imbruvica同比增长31.6%。这两款药物的强劲表现令肿瘤药业务增幅为19.7%，是该集团表现最亮眼的部门。罗氏第一季度销售额增长7%，达151.43亿瑞士法郎（约155亿美元） 。在免疫疗法Tecentriq、血友病药物Hemlibra、多发性硬化症药物Ocrevus和乳腺癌药物Perjeta四大新药的推动下，罗氏制药销售额增长7%，达122.62亿瑞士法郎 (约125亿美元)。罗氏诊断产品销售额增长5%，达28.82亿瑞士法郎（约29亿美元），分子检测是该业务的主要贡献者。当地时间4月28日，诺华和辉瑞公布第一季度财报。诺华第一季度净销售额为122.83亿美元，同比增长11%；净利润为21.73亿美元，同比增长22%；每股收益为0.96美元，同比增长16%。其创新药物部（Innovative Medicines）的增长主要来自同比增长62%的心衰药物Entresto、同比增长82%的乳腺癌药物Kisqali以及同比增长19%的类风湿关节炎治疗药物Cosentyx。此外，诺华指出，其仿制药业务（Sandoz）的增长主要源于新冠病毒相关药物的长期采购影响，至少为其带来4亿美元的额外收入。辉瑞第一季度营收为120.28亿美元，同比下降8%；如果除去消费者健康业务，同比下降1%；净利润为34.01亿美元，同比下降12%。辉瑞第一季度调整后每股收益为0.80美元，同比下降5%。对于辉瑞来说，最大的挑战来自普强（Upjohn）。受专利到期后，仿制药带来的持续冲击，第一季度Upjohn营收为20.22亿美元，同比下降37%。不过，其创新药物（BioPharma）营收为100.07亿美元，同比增长11%，主要受抗凝药物Eliquis和乳腺癌新药Ibrance的推动。辉瑞是“四巨头”之中唯一一个净利润出现下降的公司。对此，辉瑞CEO Albert Bourla表示，“尽管受到疫情影响，公司业绩下滑。但在2022年之前，大约有25-30个产品获批，其中15个有望成为重磅产品。辉瑞新的架构在过渡以后，预计将会得到更高、更持久的营收增长。”抗病毒各显神通 尽管欧美各国的疫情有放缓的趋势，但是美国新冠肺炎确诊病例已超过100万人。美国国家过敏和传染病研究所所长福奇(Anthony Fauci)也于4月28日警告称，如果没有找到有效的治疗新冠病毒的方法，美国可能将迎来一个“糟糕的秋天”。他强调，新冠病毒“不会从地球上消失”。这一观点令投资者恐慌加剧，将希望寄托于医药企业，希望他们尽早研发出抑制病毒的疗法。强生在第一季度财报中披露了新冠病毒疫苗的进展。强生预计6月份之前完成生产前准备工作，9月份启动首次人体临床研究，12月份获得初步临床数据，2021年第一季度可获得第一个批次的疫苗，并能够满足紧急授权使用。强生承诺将向全球范围提供10亿剂疫苗。强生首席执行官Alex Gorsky表示，“我们正在利用我们的科学专业知识、操作规模和资金实力，努力推进我们的新冠病毒候选疫苗的研究工作。我们承诺立即在有风险的情况下开始生产，并在不盈利的基础上向公众提供可负担得起的和可获得的疫苗，以应付此次紧急卫生事件。”辉瑞也透露，该公司和德国生物科技公司BioNTech联合开发的BNT162新冠肺炎疫苗已经获德国疫苗和生物医学联邦研究所Paul Ehrlich Institute监管批准，有望在本月底进入人体试验阶段，预期在年内能生产“数百万支”疫苗。Bourla表示，“我们的研究人员和科学家也一直在探索辉瑞现有药物的潜在新用途，以帮助受感染的患者。我们的目标是不遗余力地探索每一种选择，为社会提供治疗或疫苗。”虽然没有研发疫苗，罗氏在其财报中指出，该公司已推出Cobas新冠病毒检测诊断系统。据悉，Cobas新冠肺炎病毒诊断系统能让医院和实验室进行大规模的病毒检测，使用该诊断系统能在3.5小时之后获得诊断结果。目前该诊断系统已经获得FDA紧急许可，也已经能在全球所有认可欧盟标准的市场获得许可，预计将在5月初获批上市，而其月产量有望在6月前达到千万份（high double-digit million）。此外，罗氏正在针对托珠单抗治疗新冠病毒在多国开展III期临床试验，有望在初夏得到试验结果，同时托珠单抗增产也在进行中。Federated Hermes投资组合经理Steve Chiavarone表示，“目前有70多种疫苗正在研发中，因此，无论哪一家公司最先成功，都有可能从中受益。更广泛地说，这与疫苗无关，更重要的是我们将如何走出这场危机。”全年展望弱化新冠影响 尽管新冠疫情的前景充满不确定性，但是他们仍然确认了2020年全年预期。罗氏认为，新冠病毒大流行对部分市场的影响波动对第一季度的经营业绩影响有限，全球药品和检测产品供应链仍完好无损。根据目前对新冠病毒影响的评估，确定了2020年公司前景，在固定汇率下，销售额将在中、低个位数的范围内增长；核心每股收益的增长目标将与销售额大致一致。辉瑞则重申其全年调整后每股收益2.82美元至2.92美元，营收将在485美元至505亿美元。不过，辉瑞也在财报中指出，为了应对新冠病毒大流行，辉瑞多项正在进行和新的临床试验注册受阻。此外，拟议的Mylan和Upjohn合并交易也未能如期完成，将延期至2020年下半年结束。令人意外的是，业绩表现抢眼的强生下调了其全年展望。强生预计，受新冠肺炎疫情影响，公司2020年营收将为775亿美元至805亿美元，同比下滑2.0%至5.5%；该公司此前预计2020年营收将为854亿美元至862亿美元，同比增长4.0%至5.0%。调整后的每股收益为7.50美元至7.90美元，同比下滑9%至13.6%；此前预计调整后的每股收益为8.95美元至9.10美元，同比增长3.1%至4.8%。诺华维持了原先的预期。诺华预计，其2020年净销售额将在中、高个位数的范围内增长，其中创新药物业务将在中、高个位数的范围内增长；仿制药业务将在低个位数范围内增长。诺华集团首席执行官万思瀚（Vas Narasimhan）表示，“+11%的爆发增长，让诺华在2020迎来了一个强劲的开局。我们继续向患者提供我们的药物，并推进我们的创新渠道，这反映在我们第一季度强劲的运营业绩上。虽然未来一年仍有许多不确定因素，但我们目前仍维持全年展望，并将继续发挥我们的作用，以克服流感大流行。”Chiavarone认为，在卫生保健领域，那些帮助大家渡过这次新冠病毒大流行的公司可能才是赢家。Chiavarone补充道，“我认为我们已经认识到的一件事是，我们的卫生保健系统没有为此做好准备。因此，我们预计未来将会发生的一件事情是建立关键医疗设备和关键抗病毒药物的战略储备。我们预计会有大量采购发生或在这些领域掀起一场购买狂潮。”
Japanese News:
米ジョンソン・エンド・ジョンソン（J&J）は、2020年第1四半期（1～3月期）の決算において増収増益となった。新型コロナウイルスの世界的な感染拡大を背景に、解熱鎮痛薬「タイレノール」など日用品やヘルスケア製品の需要が急激に伸びたことが主な要因。ただ一方では、感染対応を優先する医療現場で緊急性が低い手術が延期されたことで、医療機器の売上は落ち込んだ。こうした影響を考慮し、J&Jは2020年通期の業績予想を下方修正した。 第1四半期の業績は、前年同時期と比較して売上と利益がともに改善したほか、四半期配当の引き上げも発表された。特に家庭向けの日用品（シャンプーや鎮痛剤）の売上が大きく貢献した。これは各国で外出制限措置が導入され、消費者が生活必需品を買いだめしたことが影響したとみられる。 しかし、医療機器部門の業績は悪化した。各医療機関が新型コロナ感染症患者の治療を優先した結果、緊急性の低い外科手術を中止または延期したことが影響した。同社最大のセグメントである医薬品事業は比較的安定した需要を維持したが、患者が薬品を30日分から90日分へとまとめ買いする動きが見られたためとされている。 新型コロナの感染が米国内で本格的に深刻化したのは3月に入ってからだった。同社の第1四半期売上高は前年同期比で3.3％増の206億9000万ドル（約2兆2200億円）となった。また調整後の1株当たり利益は前年同期の2.10ドルから2.30ドルに増加した。 一方、2020年通期の売上高については、当初予測の858億～866億ドルから、792億～822億ドルへと下方修正した。
Spanish News:
La multinacional farmacéutica Johnson & Johnson informó este martes que anticipa una recuperación de su segmento de dispositivos médicos hacia finales del año, especialmente durante el último trimestre, cuando prevé que se retomen procedimientos médicos opcionales que han sufrido retrasos por la crisis del COVID-19. Como consecuencia directa del impacto de la pandemia en este negocio, que incluye implantes ortopédicos como los de cadera y rodilla, la compañía ajustó a la baja su previsión de beneficios para todo el año. Esta división representa aproximadamente un 30% del total de ventas trimestrales. Sin embargo, el mercado recibió positivamente el hecho de que Johnson & Johnson mantuviera una previsión ajustada para 2020, pese al difícil panorama global generado por la pandemia. Además, la empresa incrementó su dividendo trimestral a 1,01 dólares por acción, lo que impulsó sus títulos bursátiles casi un 5%, situándose en 146,89 dólares por acción. La empresa proyectó unas ganancias ajustadas para este año entre 7,50 y 7,90 dólares por acción, cifras inferiores a las estimaciones anteriores, que estaban entre 8,95 y 9,10 dólares. Estas nuevas previsiones se elaboraron bajo el supuesto de que una posible segunda ola del coronavirus en otoño tendría características y efectos diferentes a la crisis actual. El director financiero de Johnson & Johnson, Joseph Wolk, afirmó durante una conferencia telefónica que, en caso de que el virus resurja, los sistemas sanitarios estarían mejor preparados para realizar pruebas diagnósticas, detectar casos e implementar aislamientos oportunos. Asimismo, se mostró optimista sobre la disponibilidad de tratamientos efectivos para entonces. Según Wolk, es probable que los procedimientos médicos no esenciales y las consultas presenciales se reanuden en gran medida durante la segunda mitad del año. Esto implica que la división médica continuará experimentando efectos negativos en el corto plazo, aunque comenzaría a mostrar signos de estabilización a partir del tercer trimestre. Actualmente, diversas compañías farmacéuticas están intensificando esfuerzos para obtener tratamientos efectivos y vacunas contra el coronavirus, que hasta ahora ha infectado a cerca de 2 millones de personas en todo el mundo. En este contexto, Johnson & Johnson confirmó que está trabajando en una vacuna, cuyos primeros ensayos clínicos en humanos están previstos para septiembre, con la meta de conseguir una autorización provisional para principios del próximo año. El CEO de la compañía, Alex Gorsky, aseguró que la vacuna se está desarrollando con la intención expresa de no generar beneficios económicos en situaciones de emergencia global. En cuanto a los resultados trimestrales específicos, Johnson & Johnson —primer gran laboratorio estadounidense en publicar resultados tras la crisis sanitaria— reportó que sus ventas en la división de instrumental médico descendieron un 8,2%, situándose en 5.930 millones de dólares. Dentro de esta categoría, los productos para cirugía ortopédica y corrección visual, que suelen ofrecer márgenes elevados, fueron los más afectados. Por otro lado, el segmento farmacéutico mostró un crecimiento del 8,7%, alcanzando ventas por 11.130 millones de dólares, impulsado principalmente por una mayor demanda de fármacos oncológicos como Darzalex e Imbruvica. Finalmente, los productos de salud de consumo experimentaron un incremento en sus ventas del 9,2%, alcanzando los 3.630 millones de dólares. Este resultado estuvo respaldado por la fuerte demanda de medicamentos populares contra la fiebre y la tos, como Tylenol y Motrin, ante los síntomas típicos asociados al coronavirus.
Greek News:
Η Johnson & Johnson εξακολουθεί να βρίσκεται αντιμέτωπη με σημαντικές νομικές προκλήσεις στις ΗΠΑ, καθώς περισσότερες από 16.000 αγωγές έχουν κατατεθεί εναντίων της με κατηγορίες ότι το παιδικό ταλκ της εταιρείας περιέχει ίχνη αμιάντου και σχετίζεται με περιπτώσεις καρκίνου. Δικαστής στο New Jersey επέτρεψε την συνέχιση των δικών για τις αγωγές, με περιορισμούς ως προς τις καταθέσεις ειδικών μαρτύρων. Η εταιρία διαβεβαιώνει πως οι εξετάσεις που πραγματοποιήθηκαν από ανεξάρτητες εξετάσεις δεν εντόπισαν αμίαντο, παρόλα αυτά έχουν επιδικαστεί αποζημιώσεις, όπως τα $ 20 εκατομμύρια σε ενάγουσα στην California. Η εταιρεία, αναγνωρίζοντας τους ενδεχόμενους κινδύνους, σημειώνει πως, σύμφωνα με την αξιολόγηση των μέχρι στιγμής δεδομένων και σε συνεργασία με νομικούς της συμβούλους, δεν αναμένεται ουσιώδης αρνητική επίδραση από τις αγωγές στη συνολική χρηματοοικονομική της θέση. Όμως, η πιθανή επίλυση αυτών των δικαστικών εκκρεμοτήτων ή η πιθανή αύξηση μελλοντικών προβλέψεων ώστε παρόμοια συμβάντα να μην επαναληφθούν, ενδέχεται να επηρεάσει αρνητικά τα αποτελέσματα χρήσης και τις ταμειακές ροές σε μεμονωμένες περιόδους. Παρά τις προκλήσεις, σε λειτουργικό επίπεδο, η Johnson & Johnson κατέγραψε αύξηση πωλήσεων κατά 3,3% το πρώτο τρίμηνο του 2020, με τα συνολικά έσοδα να ανέρχονται στα $ 20,7 δισεκατομμύρια. Η λειτουργική ανάπτυξη άγγιξε το 4,8% συγκριτικά με την αντίστοιχη περίοδο του 2019. Η ανοδική δυναμική της εταιρίας επηρεάστηκε από τις αρνητικές συναλλαγματικές διακυμάνσεις και την πανδημία COVID-19.
Question:
Please list the top three focuses on revenue from news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | Please list the top three focuses on revenue from news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | 1.Pharmaceutical
2. Medical devices
3. Consumer health segments
In Q1 2020, pharmaceutical sales were $11,130 million, medical devices brought in $5,932 million, and consumer health sales totaled $3,625 million.
Financial Statement Evidence: None |
JNJ_20200429 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 |
|:--------------------------------------------------------------------------------------------------------|:-----------|:---------------|:-----------|:------------------|:-----------|:-----------|:-----------|
| | | | | | | | |
| | | | | | | | |
| | | March 29, 2020 | | December 29, 2019 | | | |
| ASSETS | | | | | | | |
| Current assets: | | | | | | | |
| Cash and cash equivalents | | $ | 15,530 | | | 17,305 | |
| Marketable securities | | 2,494 | | | 1,982 | | |
| Accounts receivable, trade, less allowances for doubtful accounts and credit losses $234 (2019, $226) | | 14,874 | | | 14,481 | | |
| Inventories (Note 2) | | 8,868 | | | 9,020 | | |
| Prepaid expenses and other | | 2,358 | | | 2,392 | | |
| Assets held for sale (Note 10) | | 102 | | | 94 | | |
| Total current assets | | 44,226 | | | 45,274 | | |
| Property, plant and equipment at cost | | 43,247 | | | 43,332 | | |
| Less: accumulated depreciation | | (25,846 | ) | | (25,674 | ) | |
| Property, plant and equipment, net | | 17,401 | | | 17,658 | | |
| Intangible assets, net (Note 3) | | 47,338 | | | 47,643 | | |
| Goodwill (Note 3) | | 33,471 | | | 33,639 | | |
| Deferred taxes on income (Note 5) | | 7,539 | | | 7,819 | | |
| Other assets | | 5,042 | | | 5,695 | | |
| Total assets | | $ | 155,017 | | | 157,728 | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | |
| Current liabilities: | | | | | | | |
| Loans and notes payable | | $ | 2,190 | | | 1,202 | |
| Accounts payable | | 7,411 | | | 8,544 | | |
| Accrued liabilities | | 8,384 | | | 9,715 | | |
| Accrued rebates, returns and promotions | | 11,608 | | | 10,883 | | |
| Accrued compensation and employee related obligations | | 2,166 | | | 3,354 | | |
| Accrued taxes on income (Note 5) | | 1,930 | | | 2,266 | | |
| Total current liabilities | | 33,689 | | | 35,964 | | |
| Long-term debt (Note 4) | | 25,393 | | | 26,494 | | |
| Deferred taxes on income(Note 5) | | 5,766 | | | 5,958 | | |
| Employee related obligations (Note 6) | | 10,529 | | | 10,663 | | |
| Long-term taxes payable (Note 5) | | 7,402 | | | 7,444 | | |
| Other liabilities | | 10,944 | | | 11,734 | | |
| Total liabilities | | 93,723 | | | 98,257 | | |
| Commitments and Contingencies (Note 11) | | | | | | | |
| Shareholders’ equity: | | | | | | | |
| Common stock — par value $1.00 per share (authorized 4,320,000,000 shares; issued 3,119,843,000 shares) | | $ | 3,120 | | | 3,120 | |
| Accumulated other comprehensive income (loss) (Note 7) | | (16,243 | ) | | (15,891 | ) | |
| Retained earnings | | 112,901 | | | 110,659 | | |
| Less: common stock held in treasury, at cost(487,451,000and 487,336,000 shares) | | 38,484 | | | 38,417 | | |
| Total shareholders’ equity | | 61,294 | | | 59,471 | | |
| Total liabilities and shareholders' equity | | $ | 155,017 | | | 157,728 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 |
|:--------------------------------------------------------------------------------------------------------|:-----------|:--------------------------|:-----------|:--------------|:-----------|:-----------|:-----------|
| JOHNSON & JOHNSON AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited; Dollars in Millions) | | | | | | | |
| | | | | | | | |
| | | Fiscal Three Months Ended | | | | | |
| | | March 29,2020 | | March 31,2019 | | | |
| CASH FLOWS FROM OPERATING ACTIVITIES | | | | | | | |
| Net earnings | | $ | 5,796 | | | 3,749 | |
| Adjustments to reconcile net earnings to cash flows from operating activities: | | | | | | | |
| Depreciation and amortization of property and intangibles | | 1,747 | | | 1,761 | | |
| Stock based compensation | | 263 | | | 258 | | |
| Asset write-downs | | 11 | | | 913 | | |
| Contingent consideration reversal | | (983 | ) | | — | | |
| Net gain on sale of assets/businesses | | — | | | (72 | ) | |
| Deferred tax provision | | 54 | | | (362 | ) | |
| Accounts receivable allowances and credit losses | | 22 | | | (3 | ) | |
| Changes in assets and liabilities, net of effects from acquisitions and divestitures: | | | | | | | |
| (Increase) / Decrease in accounts receivable | | (812 | ) | | 157 | | |
| Increase in inventories | | (159 | ) | | (369 | ) | |
| Decrease in accounts payable and accrued liabilities | | (2,523 | ) | | (1,833 | ) | |
| Decrease / (Increase) in other current and non-current assets | | 271 | | | (488 | ) | |
| Decrease in other current and non-current liabilities | | (329 | ) | | (168 | ) | |
| | | | | | | | |
| NET CASH FLOWS FROM OPERATING ACTIVITIES | | 3,358 | | | 3,543 | | |
| | | | | | | | |
| CASH FLOWS FROM INVESTING ACTIVITIES | | | | | | | |
| Additions to property, plant and equipment | | (625 | ) | | (656 | ) | |
| Proceeds from the disposal of assets/businesses, net | | 17 | | | 253 | | |
| Acquisitions, net of cash acquired | | (939 | ) | | (1,683 | ) | |
| Purchases of investments | | (2,064 | ) | | (730 | ) | |
| Sales of investments | | 1,544 | | | 1,495 | | |
| Proceeds from credit support agreements, net | | 1,743 | | | — | | |
| Other | | (257 | ) | | (96 | ) | |
| | | | | | | | |
| NET CASH USED BY INVESTING ACTIVITIES | | (581 | ) | | (1,417 | ) | |
| | | | | | | | |
| CASH FLOWS FROM FINANCING ACTIVITIES | | | | | | | |
| Dividends to shareholders | | (2,505 | ) | | (2,396 | ) | |
| Repurchase of common stock | | (1,711 | ) | | (2,206 | ) | |
| Proceeds from short-term debt | | 10 | | | 13 | | |
| Repayment of short-term debt | | (18 | ) | | (16 | ) | |
| Repayment of long-term debt | | (11 | ) | | (1,002 | ) | |
| Proceeds from the exercise of stock options/employee withholding tax on stock awards, net | | 332 | | | 94 | | |
| Other | | (412 | ) | | (3 | ) | |
| | | | | | | | |
| NET CASH USED BY FINANCING ACTIVITIES | | (4,315 | ) | | (5,516 | ) | |
| | | | | | | | |
| Effect of exchange rate changes on cash and cash equivalents | | (237 | ) | | 17 | | |
| Decrease in cash and cash equivalents | | (1,775 | ) | | (3,373 | ) | |
| Cash and Cash equivalents, beginning of period | | 17,305 | | | 18,107 | | |
| CASH AND CASH EQUIVALENTS, END OF PERIOD | | $ | 15,530 | | | 14,734 | |
| | | | | | | | |
| Acquisitions | | | | | | | |
| Fair value of assets acquired | | $ | 1,136 | | | 2,154 | |
| Fair value of liabilities assumed and noncontrolling interests | | (197 | ) | | (471 | ) | |
| Net cash paid for acquisitions | | $ | 939 | | | 1,683 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 |
|:-----------------------------------------------|:-----------|:---------------------------|:-----------|:----------------|:-----------|:--------------|:-----------|:----------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | Fiscal First Quarter Ended | | | | | | | | | | | | |
| | | March 29,2020 | | Percentto Sales | | March 31,2019 | | Percentto Sales | | | | | | |
| Sales to customers (Note 9) | | $ | 20,691 | | | 100.0 | % | | $ | 20,021 | | | 100.0 | % |
| Cost of products sold | | 7,062 | | | 34.1 | | | 6,615 | | | 33.0 | | | |
| Gross profit | | 13,629 | | | 65.9 | | | 13,406 | | | 67.0 | | | |
| Selling, marketing and administrative expenses | | 5,203 | | | 25.1 | | | 5,219 | | | 26.1 | | | |
| Research and development expense | | 2,580 | | | 12.5 | | | 2,858 | | | 14.3 | | | |
| In-process research and development | | — | | | — | | | 890 | | | 4.4 | | | |
| Interest income | | (67 | ) | | (0.3 | ) | | (99 | ) | | (0.5 | ) | | |
| Interest expense, net of portion capitalized | | 25 | | | 0.1 | | | 102 | | | 0.5 | | | |
| Other (income) expense, net | | (679 | ) | | (3.3 | ) | | (22 | ) | | (0.1 | ) | | |
| Restructuring (Note 12) | | 58 | | | 0.3 | | | 36 | | | 0.2 | | | |
| Earnings before provision for taxes on income | | 6,509 | | | 31.5 | | | 4,422 | | | 22.1 | | | |
| Provision for taxes on income (Note 5) | | 713 | | | 3.5 | | | 673 | | | 3.4 | | | |
| NET EARNINGS | | $ | 5,796 | | | 28.0 | % | | $ | 3,749 | | | 18.7 | % |
| | | | | | | | | | | | | | | |
| NET EARNINGS PER SHARE (Note 8) | | | | | | | | | | | | | | |
| Basic | | $ | 2.20 | | | | | $ | 1.41 | | | | | |
| Diluted | | $ | 2.17 | | | | | $ | 1.39 | | | | | |
| | | | | | | | | | | | | | | |
| AVG. SHARES OUTSTANDING | | | | | | | | | | | | | | |
| Basic | | 2,633.7 | | | | | 2,660.8 | | | | | | | |
| Diluted | | 2,671.0 | | | | | 2,698.8 | | | | | | | |
---
English News:
The Janssen Pharmaceutical Companies of Johnson & Johnson announced today the U.S. Food and Drug Administration (FDA) approved DARZALEX FASPRO (daratumumab and hyaluronidase-fihj), a new subcutaneous formulation of daratumumab. DARZALEX FASPRO is approved in four regimens across five indications in multiple myeloma patients, including newly diagnosed, transplant-ineligible patients as well as relapsed or refractory patients.As a fixed-dose formulation, DARZALEX FASPRO can be administered over approximately three to five minutes, significantly less time than DARZALEX,which is given intravenously over hours. In the Phase 3 COLUMBA study supporting the approval, DARZALEX FASPRO demonstrated a consistent overall response rate (ORR) and pharmacokinetics and a similar safety profile compared with intravenous DARZALEX in patients with relapsed or refractory multiple myeloma. In addition, there was a nearly two-thirds reduction in systemic administration-related reactions (ARRs) for DARZALEX FASPRO compared to intravenous DARZALEX (13 percent vs. 34 percent, respectively). Continue Reading (PRNewsfoto/The Janssen Pharmaceutical Comp) \"This approval exemplifies Janssen's mission and commitment to bringing together passion, science and ingenuity to advance novel solutions for patients,\" said Mathai Mammen, M.D., Ph.D., Global Head, Janssen Research & Development, LLC. \"We are excited about the potential of this meaningful innovation in transforming the treatment experience for patients with multiple myeloma where DARZALEX FASPRO can be administered in approximately three to five minutes, significantly less time than intravenous DARZALEX, which is given over hours. Based on its favorable profile, we are accelerating the development of DARZALEX FASPRO and evaluating its potential in multiple ongoing studies.\" Click to Tweet: #NEWS: #FDA approves subcutaneous CD38-directed antibody for the treatment of multiple #myeloma. See here for more details: https://bit.ly/2VozhzY The approval is based on data from the Phase 3 COLUMBA (MMY3012)and Phase 2 PLEIADES (MMY2040) studies.1,2 In the COLUMBA study, the ORR was non-inferior for patients taking DARZALEX FASPROas monotherapycompared to those taking intravenous DARZALEXas monotherapy (41 percent vs. 37 percent, respectively). In addition, there were fewer systemic ARRs with DARZALEX FASPRO versus intravenous DARZALEX (13 percent vs. 34 percent, respectively). In a pooled safety population of 490 patients who received DARZALEXFASPRO as monotherapy or in combination, the ARR rate wFas 11 percent. The safety profiles of intravenous DARZALEX and DARZALEX FASPRO were otherwise similar.1 Additionally, in the Phase 2 PLEIADES study evaluating the efficacy and safety of DARZALEX FASPRO in combination therapies, objective responses were demonstrated in combination with bortezomib, melphalan and prednisone (D-VMP) in newly diagnosed transplant ineligible patients. In addition, objective responses were demonstrated in combination with lenalidomide and dexamethasone (D-Rd) in relapsed or refractory patients who received one prior line of therapy.2\"The Multiple Myeloma Research Foundation shares a common goal with Janssen in advancing treatments for multiple myeloma and addressing the unmet needs of this patient community,\" said Paul Giusti, President and CEO of the Multiple Myeloma Research Foundation (MMRF). \"The approval of DARZALEXFASPRO marks an important milestone which will help make a positive difference in the lives of patients who depend on this effective therapy.\"Click to Tweet: [emailprotected] talks about advancing treatments for multiple #myeloma and addressing patient needs with latest #FDA approval. Read more here: https://bit.ly/2VozhzY \"Since the approval of daratumumab, a robust body of evidence has established its use as a treatment for multiple myeloma in both the frontline and relapsed and refractory settings,\" said Saad Z. Usmani, M.D., Division Chief of Plasma Cell Disorders, Levine Cancer Institute. \"With DARZALEX FASPRO there may be fewer administration-related reactions compared to intravenous DARZALEX, providing an additional treatment option that may help patients, oncologists and nursing staff.\"DARZALEX FASPROis co-formulated with recombinant human hyaluronidase PH20 (rHuPH20) [Halozyme'sENHANZEdrug delivery technology].DARZALEX FASPRO will be available to patients and physicians as soon as the week of May 11, 2020. The intravenous DARZALEX formulation will also remain available as an option for patients and their physicians. DARZALEX FASPROis approved in combination with bortezomib, melphalan and prednisone in newly diagnosed patients who are ineligible for autologous stem cell transplant, in combination with lenalidomide and dexamethasone in newly diagnosed patients who are ineligible for autologous stem cell transplant and in patients with relapsed or refractory multiple myeloma who have received at least one prior therapy, in combination with bortezomib and dexamethasone in patients who have received at least one prior therapy, as monotherapy, in patients who have received at least three prior lines of therapy including a proteasome inhibitor (PI) and an immunomodulatory agent or who are double-refractory to a PI and an immunomodulatory agent.The U.S. FDA approval of DARZALEX FASPRO marks the first approval for this innovative subcutaneous formulation globally, and Janssen continues to work with health authorities around the world in an effort to bring this new treatment option to patients living with multiple myeloma.Access to DARZALEX FASPRO (daratumumab and hyaluronidase-fihj)Janssen offers comprehensive access and support information, resources and services to assist U.S. patients in gaining access to DARZALEX FASPROthrough the Janssen CarePath Program. Through the program, eligible commercial patients pay no more than $5 per injection, regardless of individual income level. Information on the enrollment process is available online atwww.CarePathSavingsProgram.com/DARZALEX.For more information, healthcare providers or patients can contact: 1-844-55DARZA (1-844-553-2792). Information will also be available atwww.DARZALEX.com. Dedicated case coordinators are available to work with both healthcare providers and patients.About the COLUMBA Study 1The randomized, open-label, multicenter Phase 3 COLUMBA study (MMY3012) included 522 patients (median age of 67 years) with multiple myeloma who had received at least three prior lines of therapy including a proteasome inhibitor (PI) and an immunomodulatory drug (IMiD), or whose disease was refractory to both a PI and an IMiD. In the arm that received DARZALEX FASPRO(n=263), patients received a fixed dose of DARZALEX FASPRO1,800 milligrams (mg), co-formulated with recombinant human hyaluronidase PH20 (rHuPH20) 2,000 Units per milliliter (U/mL), subcutaneously weekly for Cycles 1 2, every two weeks for Cycles 3 6 and every four weeks for Cycle 7 and thereafter. In the intravenous DARZALEXarm (n=259), patients received DARZALEXfor intravenous infusion 16 milligrams per kilogram (mg/kg) weekly for Cycles 1 2, every two weeks for Cycles 3 6 and every four weeks for Cycle 7 and thereafter. Each cycle was 28 days. In the arm that received DARZALEX FASPRO, itwas given in a fixed volume of 15 mL over three to five minutes; the median injection time was five minutes. In the arm that received theintravenous administration, the median durations of the first, second and subsequent intravenous DARZALEXinfusions were 7.0, 4.3 and 3.4 hours, respectively.Patients in both arms continued treatment until disease progression or unacceptable toxicity.About the PLEIADES Study 2The non-randomized, open-label, parallel assignment Phase 2 PLEIADES study (MMY2040) included more than 240 adults with multiple myeloma, including 67 patients with newly diagnosed multiple myeloma who were treated with 1,800 mg of DARZALEX FASPROin combination with bortezomib, melphalan, and prednisone (D-VMP) and 65 patients with relapsed or refractory disease who were treated with 1,800 mg of DARZALEX FASPROplus lenalidomide and dexamethasone (D-Rd). The primary endpoint for the D-VMP and D-Rd cohorts was overall response rate.About DARZALEXand DARZALEX FASPROJanssen is committed to exploring the potential of DARZALEX (daratumumab) for patients with multiple myeloma across the spectrum of the disease. DARZALEX has been approved in seven indications, three of which are in the frontline setting, including newly diagnosed patients who are transplant eligible and ineligible.DARZALEX has become a backbone therapy in the treatment of multiple myeloma, having been used in the treatment of more than 58,000 patients in the U.S. alone since its U.S. FDA approval in 2015. DARZALEX is the first CD38-directed antibody approved globally to treat multiple myeloma and in 2020, DARZALEX FASPRO(daratumumab and hyaluronidase human-fihj) follows as the only subcutaneous CD38-directed antibody approved to treat patients with multiple myeloma.2CD38 is a surface protein that is present in high numbers on multiple myeloma cells, regardless of the stage of disease.4 DARZALEX binds to CD38 and inhibits tumor cell growth causing myeloma cell death.5 DARZALEX may also have an effect on normal cells.3 Data across seven Phase 3 clinical trials, in both the frontline and relapsed settings, have shown that DARZALEX-based regimens resulted in significant improvement in progression-free survival and/or overall survival. 4,5,6,7,8,9,10,11 Additional studies are underway to assess the efficacy and safety of DARZALEXFASPRO in the treatment of other malignant and pre-malignant hematologic diseases in which CD38 is expressed, including smoldering myeloma and in amyloidosis.12,13Key DARZALEX Milestones: In August 2012, Janssen entered into an exclusive global license and development agreement with Genmab A/S to develop, manufacture, and commercialize DARZALEX.14 In November 2015 DARZALEX received initial U.S. FDA approval as a monotherapy for the treatment of patients with multiple myeloma who have received at least three prior lines of therapy, including a proteasome inhibitor (PI) and an immunomodulatory agent, or who are double refractory to a PI and an immunomodulatory agent.15 In November 2016 DARZALEX received an additional approval in combination with lenalidomide and dexamethasone, or bortezomib and dexamethasone, for the treatment of patients with multiple myeloma who have received at least one prior therapy.16 In June 2017, DARZALEX received approval in combination with pomalidomide and dexamethasone for the treatment of patients with multiple myeloma who have received at least two prior therapies, including lenalidomide and a PI.17 In May 2018, DARZALEX received approval in combination with bortezomib, melphalan, and prednisone for the treatment of patients with newly diagnosed multiple myeloma who are ineligible for ASCT, making it the first monoclonal antibody approved for newly diagnosed patients with this disease.18 In June 2019, DARZALEX received approval in combination with lenalidomide and dexamethasone for the treatment of patients with newly diagnosed multiple myeloma who are transplant ineligible.19 In September 2019, DARZALEX received approval in combination with bortezomib, thalidomide, and dexamethasone for the treatment of newly diagnosed patients who are eligible for autologous stem cell transplant.20 In April 2020, DARZALEX FASPRO, a subcutaneous formulation of DARZALEX, received approval for the treatment of certain patients with newly diagnosed or relapsed/refractory multiple myeloma, including in combination with bortezomib, melphalan and prednisone in newly diagnosed patients who are ineligible for autologous stem cell transplant, in combination with lenalidomide and dexamethasone in newly diagnosed patients who are ineligible for autologous stem cell transplant and in patients with relapsed or refractory multiple myeloma who have received at least one prior therapy, in combination with bortezomib and dexamethasone in patients who have received at least one prior therapy, as monotherapy, in patients who have received at least three prior lines of therapy including a PI and an immunomodulatory agent or who are double-refractory to a PI and an immunomodulatory agent. Please see full Prescribing Information at www.DARZALEX.com. About Multiple MyelomaMultiple myeloma is an incurable blood cancer that affects a type of white blood cell called plasma cells, which are found in the bone marrow.21,22When damaged, these plasma cells rapidly spread and replace normal cells with tumors in the bone marrow. In 2020, it is estimated that 32,270 people will be diagnosed and 12,830 will die from the disease in the U.S.24 While some patients with multiple myeloma have no symptoms, most patients are diagnosed due to symptoms, which can include bone fracture or pain, low red blood cell counts, tiredness, high calcium levels, kidney problems or infections.23DARZALEX FASPROIMPORTANT SAFETY INFORMATION CONTRAINDICATIONSDARZALEX FASPRO is contraindicated in patients with a history of severe hypersensitivity to daratumumab, hyaluronidase or any of the components of the formulation.WARNINGS AND PRECAUTIONSHypersensitivity And Other Administration ReactionsBoth systemic administration-related reactions, including severe or life-threatening reactions, and local injection-site reactions can occur with DARZALEX FASPRO.Systemic ReactionsIn a pooled safety population of 490patients who received DARZALEX FASPROas monotherapy or in combination, 11% of patients experienced a systemic administration-related reaction (Grade 2: 3.9%, Grade 3: 1.4%). Systemic administration-related reactions occurred in 10% of patients with the first injection, 0.2% with the second injection, and cumulatively 0.8% with subsequent injections. The median time to onset was 3.7hours (range: 9minutes to 3.5days). Of the 84systemic administration-related reactions that occurred in 52patients, 73(87%) occurred on the day of DARZALEX FASPRO administration. Delayed systemic administration-related reactions have occurred in less than 1% of the patients.Severe reactions included hypoxia, dyspnea, hypertension and tachycardia. Other signs and symptoms of systemic administration-related reactions may include respiratory symptoms, such as bronchospasm, nasal congestion, cough, throat irritation, allergic rhinitis, and wheezing, as well as anaphylactic reaction, pyrexia, chest pain, pruritis, chills, vomiting, nausea, and hypotension.Pre-medicate patients with histamine-1 receptor antagonist, acetaminophen and corticosteroids. Monitor patients for systemic administration-related reactions, especially following the first and second injections. For anaphylactic reaction or life-threatening (Grade 4) administration-related reactions, immediately and permanently discontinue DARZALEX FASPRO. Consider administering corticosteroids and other medications after the administration of DARZALEX FASPRO depending on dosing regimen and medical history to minimize the risk of delayed (defined as occurring the day after administration) systemic administration-related reactions.Local ReactionsIn this pooled safety population, injection-site reactions occurred in 8% of patients, including Grade2 reactions in 0.6%. The most frequent (>1%) injection-site reaction was injection site erythema. These local reactions occurred a median of 7minutes (range: 0minutes to 4.7days) after starting administration of DARZALEX FASPRO. Monitor for local reactions and consider symptomatic management.NeutropeniaDaratumumab may increase neutropenia induced by background therapy. Monitor complete blood cell counts periodically during treatment according to manufacturer's prescribing information for background therapies. Monitor patients with neutropenia for signs of infection. Consider withholding DARZALEX FASPRO until recovery of neutrophils. In lower body weight patients receiving DARZALEX FASPRO, higher rates of Grade 3-4 neutropenia were observed.ThrombocytopeniaDaratumumab may increase thrombocytopenia induced by background therapy. Monitor complete blood cell counts periodically during treatment according to manufacturer's prescribing information for background therapies. Consider withholding DARZALEX FASPRO until recovery of platelets.Embryo-Fetal ToxicityBased on the mechanism of action, DARZALEX FASPRO can cause fetal harm when administered to a pregnant woman. DARZALEX FASPRO may cause depletion of fetal immune cells and decreased bone density. Advise pregnant women of the potential risk to a fetus. Advise females with reproductive potential to use effective contraception during treatment with DARZALEX FASPRO and for 3months after the last dose.The combination of DARZALEX FASPRO with lenalidomide is contraindicated in pregnant women, because lenalidomide may cause birth defects and death of the unborn child. Refer to the lenalidomide prescribing information on use during pregnancy.Interference with Serological TestingDaratumumab binds to CD38 on red blood cells (RBCs) and results in a positive Indirect Antiglobulin Test (Indirect Coombs test). Daratumumab-mediated positive indirect antiglobulin test may persist for up to 6months after the last daratumumab administration. Daratumumab bound to RBCs masks detection of antibodies to minor antigens in the patient's serum. The determination of a patient's ABO and Rh blood type are not impacted.Notify blood transfusion centers of this interference with serological testing and inform blood banks that a patient has received DARZALEX FASPRO. Type and screen patients prior to starting DARZALEX FASPRO.Interference with Determination of Complete ResponseDaratumumab is a human IgG kappa monoclonal antibody that can be detected on both the serum protein electrophoresis (SPE) and immunofixation (IFE) assays used for the clinical monitoring of endogenous M-protein. This interference can impact the determination of complete response and of disease progression in some DARZALEX FASPRO -treated patients with IgG kappa myeloma protein.Adverse ReactionsThe most common adverse reaction (20%) with DARZALEX FASPRO monotherapy is: upper respiratory tracts infection. The most common adverse reactions (20%) with D-VMP are upper respiratory tract infection, constipation, nausea, fatigue, pyrexia, peripheral sensory neuropathy, diarrhea, cough, insomnia, vomiting, and back pain. The most common adverse reactions (20%) with D-Rd are fatigue, diarrhea, upper respiratory tract infection, muscle spasms, constipation, pyrexia, pneumonia and dyspnea. The most common hematology laboratory abnormalities (40%) with DARZALEX FASPRO are decreased leukocytes, decreased lymphocytes, decreased neutrophils, decreased platelets, and decreased hemoglobin.Please see full Prescribing Information at www.DARZALEX.com. DARZALEX IMPORTANT SAFETY INFORMATIONCONTRAINDICATIONSDARZALEX (daratumumab) is contraindicated in patients with a history of severe hypersensitivity (e.g., anaphylactic reactions) to daratumumab or any of the components of the formulation.WARNINGS AND PRECAUTIONSInfusion Reactions DARZALEX can cause severe and/or serious infusion reactions, including anaphylactic reactions. In clinical trials, approximately half of all patients experienced an infusion reaction. Most infusion reactions occurred during the first infusion and were Grade 1-2. Infusion reactions can also occur with subsequent infusions. Nearly all reactions occurred during infusion or within 4 hours of completing DARZALEX.Prior to the introduction of post-infusion medication in clinical trials, infusion reactions occurred up to 48 hours after infusion. Severe reactions have occurred, including bronchospasm, hypoxia, dyspnea, hypertension, laryngeal edema, and pulmonary edema. Signs and symptoms may include respiratory symptoms, such as nasal congestion, cough, throat irritation, as well as chills, vomiting, and nausea. Less common symptoms were wheezing, allergic rhinitis, pyrexia, chest discomfort, pruritus, and hypotension.Pre-medicate patients with antihistamines, antipyretics, and corticosteroids. Frequently monitor patients during the entire infusion. Interrupt infusion for reactions of any severity and institute medical management as needed. Permanently discontinue therapy if an anaphylactic reaction or life-threatening (Grade 4) reaction occurs and institute appropriate emergency care.For patients with Grade 1, 2, or 3reactions, reduce the infusion rate when re-starting the infusion.To reduce the risk of delayed infusion reactions, administer oral corticosteroids to all patients following DARZALEX infusions. Patients with a history of chronic obstructive pulmonary disease may require additional post-infusion medications to manage respiratory complications. Consider prescribing short- and long-acting bronchodilators and inhaled corticosteroids for patients with chronic obstructive pulmonary disease.Interference with Serological Testing Daratumumab binds to CD38 on red blood cells (RBCs) and results in a positive Indirect Antiglobulin Test (Indirect Coombs test). Daratumumab-mediated positive indirect antiglobulin test may persist for up to 6 months after the last daratumumab infusion. Daratumumab bound to RBCs masks detection of antibodies to minor antigens in the patient's serum. The determination of a patient's ABO and Rh blood type are not impacted. Notify blood transfusion centers of this interference with serological testing and inform blood banks that a patient has received DARZALEX. Type and screen patients prior to starting DARZALEX.Neutropenia and Thrombocytopenia DARZALEX may increase neutropenia and/or thrombocytopenia induced by background therapy. Monitor complete blood cell counts periodically during treatment according to the manufacturer's prescribing information for background therapies. Monitor patients with neutropenia for signs of infection.DARZALEX dose delay may be required to allow recovery of neutrophils and/or platelets. No dose reduction of DARZALEX is recommended. Consider supportive care with growth factors for neutropenia or transfusions for thrombocytopenia.Interference with Determination of Complete Response Daratumumab is a human IgG kappa monoclonal antibody that can be detected on both the serum protein electrophoresis (SPE) and immunofixation (IFE) assays used for the clinical monitoring of endogenous M-protein. This interference can impact the determination of complete response and of disease progression in some patients with IgG kappa myeloma protein.Adverse Reactions The most frequently reported adverse reactions (incidence 20%) were: infusion reactions, neutropenia, thrombocytopenia, fatigue, asthenia, nausea, diarrhea, constipation, decreased appetite, vomiting, muscle spasms, arthralgia, back pain, pyrexia, chills, dizziness, insomnia, cough, dyspnea, peripheral edema, peripheral sensory neuropathy, bronchitis, pneumonia, and upper respiratory tract infection.DARZALEX in combination with lenalidomide and dexamethasone (DRd): The most frequent (20%) adverse reactions for newly diagnosed or relapsed/refractory patients were, respectively, infusion reactions (41%, 48%), diarrhea (57%, 43%), nausea (32%, 24%), fatigue (40%, 35%), pyrexia (23%, 20%), upper respiratory tract infection (52%, 65%), muscle spasms (29%, 26%), dyspnea (32%, 21%), and cough (30%, 30%). In newly diagnosed patients, constipation (41%), peripheral edema (41%), back pain (34%), asthenia (32%), bronchitis (29%), pneumonia (26%), peripheral sensory neuropathy (24%), and decreased appetite (22%) were also reported. In newly diagnosed patients, serious adverse reactions (2% compared to Rd)were pneumonia (15%), bronchitis (4%), and dehydration (2%), and treatment-emergent Grade 3-4 hematology laboratory abnormalities (20%) were neutropenia (56%), lymphopenia (52%), and leukopenia (35%). In relapsed/refractory patients, serious adverse reactions (2% compared to Rd)were pneumonia (12%), upper respiratory tract infection (7%), influenza (3%), and pyrexia (3%), and treatment-emergent Grade 3-4 hematology laboratory abnormalities (20%) were neutropenia (53%) and lymphopenia (52%). DARZALEXin combination with bortezomib, melphalan, and prednisone (DVMP): The most frequently reported adverse reactions (20%) were upper respiratory tract infection (48%), infusion reactions (28%), and peripheral edema (21%). Serious adverse reactions (2% compared to the VMP arm) were pneumonia (11%), upper respiratory tract infection (5%), and pulmonary edema (2%). Treatment-emergent Grade 3-4 hematology laboratory abnormalities (20%) were lymphopenia (58%), neutropenia (44%), and thrombocytopenia (38%).DARZALEX in combination with bortezomib and dexamethasone (DVd): Themost frequently reported adverse reactions (20%) were peripheral sensory neuropathy (47%), infusion reactions (45%), upper respiratory tract infection (44%), diarrhea (32%), cough (27%), peripheral edema (22%), and dyspnea (21%). The overall incidence of serious adverse reactions was 42%. Serious adverse reactions (2% compared to Vd) were upper respiratory tract infection (5%), diarrhea (2%), and atrial fibrillation (2%). Treatment-emergent Grade 3-4 hematology laboratory abnormalities (20%) were lymphopenia (48%) and thrombocytopenia (47%).DARZALEX in combination with bortezomib, thalidomide, and dexamethasone (DVTd): The most frequent adverse reactions (20%) were infusion reactions (35%), nausea (30%), upper respiratory tract infection (27%), pyrexia (26%), and bronchitis (20%). Serious adverse reactions (2% compared to the VTd arm) were bronchitis (DVTd 2% vs. VTd <1%)and pneumonia (DVTd 6% vs. VTd 4%). Treatment-emergent Grade 3-4 hematology laboratory abnormalities (20%) were lymphopenia (59%), neutropenia (33%), and leukopenia (24%).DARZALEX in combination with pomalidomide and dexamethasone (DPd): Themost frequent adverse reactions (>20%) were fatigue (50%), infusion reactions (50%), upper respiratory tract infection (50%), cough (43%), diarrhea (38%), constipation (33%), dyspnea (33%), nausea (30%), muscle spasms (26%), back pain (25%), pyrexia (25%), insomnia (23%), arthralgia (22%), dizziness (21%), and vomiting (21%). The overall incidence of serious adverse reactions was 49%. Serious adverse reactions reported in 5% of patients included pneumonia (7%).Treatment-emergent Grade 3-4 hematologylaboratory abnormalities (20%) were neutropenia (82%), lymphopenia (71%), and anemia (30%). DARZALEX as monotherapy: Themost frequently reported adverse reactions (20%) were infusion reactions (48%), fatigue (39%), nausea (27%), back pain (23%), pyrexia (21%), cough (21%), and upper respiratory tract infection (20%). The overall incidence of serious adverse reactions was 33%. The most frequent serious adverse reactions were pneumonia (6%), general physical health deterioration (3%), and pyrexia (3%). Treatment-emergent Grade 3-4 hematology laboratory abnormalities (20%) were lymphopenia (40%) and neutropenia (20%).Please see full Prescribing Information at www.DARZALEX.com. About the Janssen Pharmaceutical Companies of Johnson & Johnson At Janssen, we're creating a future where disease is a thing of the past. We're the Pharmaceutical Companies of Johnson & Johnson, working tirelessly to make that future a reality for patients everywhere by fighting sickness with science, improving access with ingenuity, and healing hopelessness with heart. We focus on areas of medicine where we can make the biggest difference: Cardiovascular & Metabolism, Immunology, Infectious Diseases & Vaccines, Neuroscience, Oncology, and Pulmonary Hypertension.Learn more at www.janssen.com. Follow us at www.twitter.com/JanssenGlobal. Janssen Research & Development, LLC and Janssen Biotech, Inc. are part of the Janssen Pharmaceutical Companies of Johnson & Johnson.Cautions Concerning Forward-Looking StatementsThis press release contains \"forward-looking statements\" as defined in the Private Securities Litigation Reform Act of 1995 regarding DARZALEX FASPRO. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Janssen Biotech, Inc. and/or Johnson & Johnson. Risks and uncertainties include, but are not limited to: challenges and uncertainties inherent in product research and development, including the uncertainty of clinical success and of obtaining regulatory approvals; uncertainty of commercial success; manufacturing difficulties and delays; competition, including technological advances, new products and patents attained by competitors; challenges to patents; product efficacy or safety concerns resulting in product recalls or regulatory action; changes in behavior and spending patterns of purchasers of health care products and services; changes to applicable laws and regulations, including global health care reforms; and trends toward health care cost containment. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended December 29, 2019, including in the sections captioned \"Cautionary Note Regarding Forward-Looking Statements\" and \"Item 1A. Risk Factors,\" and in the company's most recently filed Quarterly Report on Form 10-Q, and the company's subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.comor on request from Johnson & Johnson. None of the Janssen Pharmaceutical Companies nor Johnson & Johnson undertakes to update any forward-looking statement as a result of new information or future events or developments.ENHANZEis a registered trademark of Halozyme. 1Mateos M-V et al. Efficacy and Safety of the Randomized, Open-Label, Non-inferiority, Phase 3 Study of Subcutaneous (SC) Versus Intravenous (IV) Daratumumab (DARA) Administration in Patients (pts) With Relapsed or Refractory Multiple Myeloma (RRMM): COLUMBA. 2019 American Society of Clinical Oncology Annual Meeting. June 2019.2Janssen Research & Development, LLC. A Study to Evaluate Subcutaneous Daratumumab in Combination With Standard Multiple Myeloma Treatment Regimens. In: ClinicalTrials.gov [Internet]. Bethesda (MD): National Library of Medicine (US). 2000 [cited July 5, 2019]. Available at: https://clinicaltrials.gov/ct2/show/NCT03412565. Identifier: NCT03412565.32020Fedele G et al. CD38 Ligation in Peripheral Blood Mononuclear Cells of Myeloma Patients Induces Release of Protumorigenic IL-6 and Impaired Secretion of IFN Cytokines and Proliferation. Mediators Inflamm. 2013;564687.4Janssen Research & Development, LLC. A Study Comparing Daratumumab, Lenalidomide, and Dexamethasone With Lenalidomide and Dexamethasone in Relapsed or Refractory Multiple Myeloma. In: ClinicalTrials.gov [Internet]. Bethesda (MD): National Library of Medicine (US). 2000-[cited 2018 July 24]. Available at: https://clinicaltrials.gov/ct2/show/NCT02076009?term=mmy3003&rank=1 Identifier: NCT02136134 .5Janssen Research & Development, LLC. Addition of Daratumumab to Combination of Bortezomib and Dexamethasone in Participants With Relapsed or Refractory Multiple Myeloma. In: ClinicalTrials.gov [Internet]. Bethesda (MD): National Library of Medicine (US). 2000-[cited 2018 July 24]. Available at: https://clinicaltrials.gov/ct2/show/NCT02136134?term=mmy3004&rank=1 Identifier: NCT02076009.6Janssen Research & Development, LLC. A Study to Evaluate Daratumumab in Transplant Eligible Participants With Previously Untreated Multiple Myeloma (Cassiopeia). In: ClinicalTrials.gov [Internet]. Bethesda (MD): National Library of Medicine (US). 2000-[cited 2018 July 24]. Available at: https://clinicaltrials.gov/ct2/show/NCT02541383?term=mmy3006 Identifier: NCT02541383.7Janssen Research & Development, LLC. A Study of Combination of Daratumumab and Velcade (Bortezomib) Melphalan-Prednisone (DVMP) Compared to Velcade Melphalan-Prednisone (VMP) in Participants With Previously Untreated Multiple Myeloma In: ClinicalTrials.gov [Internet]. Bethesda (MD): National Library of Medicine (US). 2000-[cited 2018 July 24]. Available at: https://clinicaltrials.gov/ct2/show/NCT02195479?term=mmy3007&rank=1 Identifier: NCT02195479.8Janssen Research & Development, LLC. Study Comparing Daratumumab, Lenalidomide, and Dexamethasone With Lenalidomide and Dexamethasone in Participants With Previously Untreated Multiple Myeloma. In: ClinicalTri
Chinese News:
本周，美股迎来财报季“关键周”。就在大部分行业因“大封锁”叫苦不迭之际，医药股则成为疫情中显著的赢家。继上周的强生、罗氏之后，辉瑞和诺华也于当地时间4月28日发布一季度财报。根据各公司财报显示，第一季度“药企四巨头”业绩表现呈增长趋势，而追踪参与参与新冠研发企业股价的新冠病毒检测治疗指数（Covid-19 Testing&Treatment Index，简称Covid-19 Index），更实在今年上涨了80%，完胜标普500指数大盘。Covid-19 Index目前由29家公司制药公司和生物技术公司组成，这些公司均正在参与测试和治疗新冠病毒，其中包括吉利德科学、Biogen、强生、罗氏、安进、赛诺菲、雅培、Moderna等。按市值计算，其最大的组成部分是强生、罗氏、辉瑞和诺华。截至当地时间4月27日，Covid-19 Index在2020年已经超涨80%。不过，“四巨头”股价在2020年的表现喜忧参半。2020年至今，强生股价已累计上涨3.78%，罗氏股价已累计上涨15.63%，诺华股价已累计下跌4.68%，辉瑞股价已累计下跌3.24%。创新药物销售额逆势增长 作为2019年Fierce Pharma收入前20名的制药企业排行榜的前四强，强生、罗氏、辉瑞和诺华在第一季度的表现备受关注。上周，强生和罗氏率先公布2020财年第一季度财报。强生第一季度销售额为206.91亿美元，去年同期为200.21亿美元，同比增长3.3%；未经调整的净利润为57.96亿美元，同比增长54.6%。按业务来看，第一季度制药部门销售额增长8.7%至111.3亿美元，消费者健康部门销售额增长9.2%至36.25亿美元，而医疗器械部门销售额下降8.2%至59.32亿美元。强生在其财报中指出，用于治疗多发性骨髓瘤的Darzalex销售额同比增长49%，成为强生肿瘤药头牌；用于慢性淋巴细胞白血病(CLL)的Imbruvica同比增长31.6%。这两款药物的强劲表现令肿瘤药业务增幅为19.7%，是该集团表现最亮眼的部门。罗氏第一季度销售额增长7%，达151.43亿瑞士法郎（约155亿美元） 。在免疫疗法Tecentriq、血友病药物Hemlibra、多发性硬化症药物Ocrevus和乳腺癌药物Perjeta四大新药的推动下，罗氏制药销售额增长7%，达122.62亿瑞士法郎 (约125亿美元)。罗氏诊断产品销售额增长5%，达28.82亿瑞士法郎（约29亿美元），分子检测是该业务的主要贡献者。当地时间4月28日，诺华和辉瑞公布第一季度财报。诺华第一季度净销售额为122.83亿美元，同比增长11%；净利润为21.73亿美元，同比增长22%；每股收益为0.96美元，同比增长16%。其创新药物部（Innovative Medicines）的增长主要来自同比增长62%的心衰药物Entresto、同比增长82%的乳腺癌药物Kisqali以及同比增长19%的类风湿关节炎治疗药物Cosentyx。此外，诺华指出，其仿制药业务（Sandoz）的增长主要源于新冠病毒相关药物的长期采购影响，至少为其带来4亿美元的额外收入。辉瑞第一季度营收为120.28亿美元，同比下降8%；如果除去消费者健康业务，同比下降1%；净利润为34.01亿美元，同比下降12%。辉瑞第一季度调整后每股收益为0.80美元，同比下降5%。对于辉瑞来说，最大的挑战来自普强（Upjohn）。受专利到期后，仿制药带来的持续冲击，第一季度Upjohn营收为20.22亿美元，同比下降37%。不过，其创新药物（BioPharma）营收为100.07亿美元，同比增长11%，主要受抗凝药物Eliquis和乳腺癌新药Ibrance的推动。辉瑞是“四巨头”之中唯一一个净利润出现下降的公司。对此，辉瑞CEO Albert Bourla表示，“尽管受到疫情影响，公司业绩下滑。但在2022年之前，大约有25-30个产品获批，其中15个有望成为重磅产品。辉瑞新的架构在过渡以后，预计将会得到更高、更持久的营收增长。”抗病毒各显神通 尽管欧美各国的疫情有放缓的趋势，但是美国新冠肺炎确诊病例已超过100万人。美国国家过敏和传染病研究所所长福奇(Anthony Fauci)也于4月28日警告称，如果没有找到有效的治疗新冠病毒的方法，美国可能将迎来一个“糟糕的秋天”。他强调，新冠病毒“不会从地球上消失”。这一观点令投资者恐慌加剧，将希望寄托于医药企业，希望他们尽早研发出抑制病毒的疗法。强生在第一季度财报中披露了新冠病毒疫苗的进展。强生预计6月份之前完成生产前准备工作，9月份启动首次人体临床研究，12月份获得初步临床数据，2021年第一季度可获得第一个批次的疫苗，并能够满足紧急授权使用。强生承诺将向全球范围提供10亿剂疫苗。强生首席执行官Alex Gorsky表示，“我们正在利用我们的科学专业知识、操作规模和资金实力，努力推进我们的新冠病毒候选疫苗的研究工作。我们承诺立即在有风险的情况下开始生产，并在不盈利的基础上向公众提供可负担得起的和可获得的疫苗，以应付此次紧急卫生事件。”辉瑞也透露，该公司和德国生物科技公司BioNTech联合开发的BNT162新冠肺炎疫苗已经获德国疫苗和生物医学联邦研究所Paul Ehrlich Institute监管批准，有望在本月底进入人体试验阶段，预期在年内能生产“数百万支”疫苗。Bourla表示，“我们的研究人员和科学家也一直在探索辉瑞现有药物的潜在新用途，以帮助受感染的患者。我们的目标是不遗余力地探索每一种选择，为社会提供治疗或疫苗。”虽然没有研发疫苗，罗氏在其财报中指出，该公司已推出Cobas新冠病毒检测诊断系统。据悉，Cobas新冠肺炎病毒诊断系统能让医院和实验室进行大规模的病毒检测，使用该诊断系统能在3.5小时之后获得诊断结果。目前该诊断系统已经获得FDA紧急许可，也已经能在全球所有认可欧盟标准的市场获得许可，预计将在5月初获批上市，而其月产量有望在6月前达到千万份（high double-digit million）。此外，罗氏正在针对托珠单抗治疗新冠病毒在多国开展III期临床试验，有望在初夏得到试验结果，同时托珠单抗增产也在进行中。Federated Hermes投资组合经理Steve Chiavarone表示，“目前有70多种疫苗正在研发中，因此，无论哪一家公司最先成功，都有可能从中受益。更广泛地说，这与疫苗无关，更重要的是我们将如何走出这场危机。”全年展望弱化新冠影响 尽管新冠疫情的前景充满不确定性，但是他们仍然确认了2020年全年预期。罗氏认为，新冠病毒大流行对部分市场的影响波动对第一季度的经营业绩影响有限，全球药品和检测产品供应链仍完好无损。根据目前对新冠病毒影响的评估，确定了2020年公司前景，在固定汇率下，销售额将在中、低个位数的范围内增长；核心每股收益的增长目标将与销售额大致一致。辉瑞则重申其全年调整后每股收益2.82美元至2.92美元，营收将在485美元至505亿美元。不过，辉瑞也在财报中指出，为了应对新冠病毒大流行，辉瑞多项正在进行和新的临床试验注册受阻。此外，拟议的Mylan和Upjohn合并交易也未能如期完成，将延期至2020年下半年结束。令人意外的是，业绩表现抢眼的强生下调了其全年展望。强生预计，受新冠肺炎疫情影响，公司2020年营收将为775亿美元至805亿美元，同比下滑2.0%至5.5%；该公司此前预计2020年营收将为854亿美元至862亿美元，同比增长4.0%至5.0%。调整后的每股收益为7.50美元至7.90美元，同比下滑9%至13.6%；此前预计调整后的每股收益为8.95美元至9.10美元，同比增长3.1%至4.8%。诺华维持了原先的预期。诺华预计，其2020年净销售额将在中、高个位数的范围内增长，其中创新药物业务将在中、高个位数的范围内增长；仿制药业务将在低个位数范围内增长。诺华集团首席执行官万思瀚（Vas Narasimhan）表示，“+11%的爆发增长，让诺华在2020迎来了一个强劲的开局。我们继续向患者提供我们的药物，并推进我们的创新渠道，这反映在我们第一季度强劲的运营业绩上。虽然未来一年仍有许多不确定因素，但我们目前仍维持全年展望，并将继续发挥我们的作用，以克服流感大流行。”Chiavarone认为，在卫生保健领域，那些帮助大家渡过这次新冠病毒大流行的公司可能才是赢家。Chiavarone补充道，“我认为我们已经认识到的一件事是，我们的卫生保健系统没有为此做好准备。因此，我们预计未来将会发生的一件事情是建立关键医疗设备和关键抗病毒药物的战略储备。我们预计会有大量采购发生或在这些领域掀起一场购买狂潮。”
Japanese News:
米ジョンソン・エンド・ジョンソン（J&J）は、2020年第1四半期（1～3月期）の決算において増収増益となった。新型コロナウイルスの世界的な感染拡大を背景に、解熱鎮痛薬「タイレノール」など日用品やヘルスケア製品の需要が急激に伸びたことが主な要因。ただ一方では、感染対応を優先する医療現場で緊急性が低い手術が延期されたことで、医療機器の売上は落ち込んだ。こうした影響を考慮し、J&Jは2020年通期の業績予想を下方修正した。 第1四半期の業績は、前年同時期と比較して売上と利益がともに改善したほか、四半期配当の引き上げも発表された。特に家庭向けの日用品（シャンプーや鎮痛剤）の売上が大きく貢献した。これは各国で外出制限措置が導入され、消費者が生活必需品を買いだめしたことが影響したとみられる。 しかし、医療機器部門の業績は悪化した。各医療機関が新型コロナ感染症患者の治療を優先した結果、緊急性の低い外科手術を中止または延期したことが影響した。同社最大のセグメントである医薬品事業は比較的安定した需要を維持したが、患者が薬品を30日分から90日分へとまとめ買いする動きが見られたためとされている。 新型コロナの感染が米国内で本格的に深刻化したのは3月に入ってからだった。同社の第1四半期売上高は前年同期比で3.3％増の206億9000万ドル（約2兆2200億円）となった。また調整後の1株当たり利益は前年同期の2.10ドルから2.30ドルに増加した。 一方、2020年通期の売上高については、当初予測の858億～866億ドルから、792億～822億ドルへと下方修正した。
Spanish News:
La multinacional farmacéutica Johnson & Johnson informó este martes que anticipa una recuperación de su segmento de dispositivos médicos hacia finales del año, especialmente durante el último trimestre, cuando prevé que se retomen procedimientos médicos opcionales que han sufrido retrasos por la crisis del COVID-19. Como consecuencia directa del impacto de la pandemia en este negocio, que incluye implantes ortopédicos como los de cadera y rodilla, la compañía ajustó a la baja su previsión de beneficios para todo el año. Esta división representa aproximadamente un 30% del total de ventas trimestrales. Sin embargo, el mercado recibió positivamente el hecho de que Johnson & Johnson mantuviera una previsión ajustada para 2020, pese al difícil panorama global generado por la pandemia. Además, la empresa incrementó su dividendo trimestral a 1,01 dólares por acción, lo que impulsó sus títulos bursátiles casi un 5%, situándose en 146,89 dólares por acción. La empresa proyectó unas ganancias ajustadas para este año entre 7,50 y 7,90 dólares por acción, cifras inferiores a las estimaciones anteriores, que estaban entre 8,95 y 9,10 dólares. Estas nuevas previsiones se elaboraron bajo el supuesto de que una posible segunda ola del coronavirus en otoño tendría características y efectos diferentes a la crisis actual. El director financiero de Johnson & Johnson, Joseph Wolk, afirmó durante una conferencia telefónica que, en caso de que el virus resurja, los sistemas sanitarios estarían mejor preparados para realizar pruebas diagnósticas, detectar casos e implementar aislamientos oportunos. Asimismo, se mostró optimista sobre la disponibilidad de tratamientos efectivos para entonces. Según Wolk, es probable que los procedimientos médicos no esenciales y las consultas presenciales se reanuden en gran medida durante la segunda mitad del año. Esto implica que la división médica continuará experimentando efectos negativos en el corto plazo, aunque comenzaría a mostrar signos de estabilización a partir del tercer trimestre. Actualmente, diversas compañías farmacéuticas están intensificando esfuerzos para obtener tratamientos efectivos y vacunas contra el coronavirus, que hasta ahora ha infectado a cerca de 2 millones de personas en todo el mundo. En este contexto, Johnson & Johnson confirmó que está trabajando en una vacuna, cuyos primeros ensayos clínicos en humanos están previstos para septiembre, con la meta de conseguir una autorización provisional para principios del próximo año. El CEO de la compañía, Alex Gorsky, aseguró que la vacuna se está desarrollando con la intención expresa de no generar beneficios económicos en situaciones de emergencia global. En cuanto a los resultados trimestrales específicos, Johnson & Johnson —primer gran laboratorio estadounidense en publicar resultados tras la crisis sanitaria— reportó que sus ventas en la división de instrumental médico descendieron un 8,2%, situándose en 5.930 millones de dólares. Dentro de esta categoría, los productos para cirugía ortopédica y corrección visual, que suelen ofrecer márgenes elevados, fueron los más afectados. Por otro lado, el segmento farmacéutico mostró un crecimiento del 8,7%, alcanzando ventas por 11.130 millones de dólares, impulsado principalmente por una mayor demanda de fármacos oncológicos como Darzalex e Imbruvica. Finalmente, los productos de salud de consumo experimentaron un incremento en sus ventas del 9,2%, alcanzando los 3.630 millones de dólares. Este resultado estuvo respaldado por la fuerte demanda de medicamentos populares contra la fiebre y la tos, como Tylenol y Motrin, ante los síntomas típicos asociados al coronavirus.
Greek News:
Η Johnson & Johnson εξακολουθεί να βρίσκεται αντιμέτωπη με σημαντικές νομικές προκλήσεις στις ΗΠΑ, καθώς περισσότερες από 16.000 αγωγές έχουν κατατεθεί εναντίων της με κατηγορίες ότι το παιδικό ταλκ της εταιρείας περιέχει ίχνη αμιάντου και σχετίζεται με περιπτώσεις καρκίνου. Δικαστής στο New Jersey επέτρεψε την συνέχιση των δικών για τις αγωγές, με περιορισμούς ως προς τις καταθέσεις ειδικών μαρτύρων. Η εταιρία διαβεβαιώνει πως οι εξετάσεις που πραγματοποιήθηκαν από ανεξάρτητες εξετάσεις δεν εντόπισαν αμίαντο, παρόλα αυτά έχουν επιδικαστεί αποζημιώσεις, όπως τα $ 20 εκατομμύρια σε ενάγουσα στην California. Η εταιρεία, αναγνωρίζοντας τους ενδεχόμενους κινδύνους, σημειώνει πως, σύμφωνα με την αξιολόγηση των μέχρι στιγμής δεδομένων και σε συνεργασία με νομικούς της συμβούλους, δεν αναμένεται ουσιώδης αρνητική επίδραση από τις αγωγές στη συνολική χρηματοοικονομική της θέση. Όμως, η πιθανή επίλυση αυτών των δικαστικών εκκρεμοτήτων ή η πιθανή αύξηση μελλοντικών προβλέψεων ώστε παρόμοια συμβάντα να μην επαναληφθούν, ενδέχεται να επηρεάσει αρνητικά τα αποτελέσματα χρήσης και τις ταμειακές ροές σε μεμονωμένες περιόδους. Παρά τις προκλήσεις, σε λειτουργικό επίπεδο, η Johnson & Johnson κατέγραψε αύξηση πωλήσεων κατά 3,3% το πρώτο τρίμηνο του 2020, με τα συνολικά έσοδα να ανέρχονται στα $ 20,7 δισεκατομμύρια. Η λειτουργική ανάπτυξη άγγιξε το 4,8% συγκριτικά με την αντίστοιχη περίοδο του 2019. Η ανοδική δυναμική της εταιρίας επηρεάστηκε από τις αρνητικές συναλλαγματικές διακυμάνσεις και την πανδημία COVID-19.
Question:
How is the company allocating capital (e.g., investments, share repurchases, dividends) based on its performance and market outlook from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | How is the company allocating capital (e.g., investments, share repurchases, dividends) based on its performance and market outlook from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Johnson & Johnson is prioritizing shareholder returns through dividends and preparing for COVID-19-related investments. In Q1 2020, the company paid $2,396 million in dividends and reported $625 million in additions to property, plant, and equipment, indicating continued capital investment.
Financial Statement Evidence:
Cash dividends paid: $2,396M; Additions to property, plant and equipment: $625M |
JNJ_20200429 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 |
|:--------------------------------------------------------------------------------------------------------|:-----------|:---------------|:-----------|:------------------|:-----------|:-----------|:-----------|
| | | | | | | | |
| | | | | | | | |
| | | March 29, 2020 | | December 29, 2019 | | | |
| ASSETS | | | | | | | |
| Current assets: | | | | | | | |
| Cash and cash equivalents | | $ | 15,530 | | | 17,305 | |
| Marketable securities | | 2,494 | | | 1,982 | | |
| Accounts receivable, trade, less allowances for doubtful accounts and credit losses $234 (2019, $226) | | 14,874 | | | 14,481 | | |
| Inventories (Note 2) | | 8,868 | | | 9,020 | | |
| Prepaid expenses and other | | 2,358 | | | 2,392 | | |
| Assets held for sale (Note 10) | | 102 | | | 94 | | |
| Total current assets | | 44,226 | | | 45,274 | | |
| Property, plant and equipment at cost | | 43,247 | | | 43,332 | | |
| Less: accumulated depreciation | | (25,846 | ) | | (25,674 | ) | |
| Property, plant and equipment, net | | 17,401 | | | 17,658 | | |
| Intangible assets, net (Note 3) | | 47,338 | | | 47,643 | | |
| Goodwill (Note 3) | | 33,471 | | | 33,639 | | |
| Deferred taxes on income (Note 5) | | 7,539 | | | 7,819 | | |
| Other assets | | 5,042 | | | 5,695 | | |
| Total assets | | $ | 155,017 | | | 157,728 | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | |
| Current liabilities: | | | | | | | |
| Loans and notes payable | | $ | 2,190 | | | 1,202 | |
| Accounts payable | | 7,411 | | | 8,544 | | |
| Accrued liabilities | | 8,384 | | | 9,715 | | |
| Accrued rebates, returns and promotions | | 11,608 | | | 10,883 | | |
| Accrued compensation and employee related obligations | | 2,166 | | | 3,354 | | |
| Accrued taxes on income (Note 5) | | 1,930 | | | 2,266 | | |
| Total current liabilities | | 33,689 | | | 35,964 | | |
| Long-term debt (Note 4) | | 25,393 | | | 26,494 | | |
| Deferred taxes on income(Note 5) | | 5,766 | | | 5,958 | | |
| Employee related obligations (Note 6) | | 10,529 | | | 10,663 | | |
| Long-term taxes payable (Note 5) | | 7,402 | | | 7,444 | | |
| Other liabilities | | 10,944 | | | 11,734 | | |
| Total liabilities | | 93,723 | | | 98,257 | | |
| Commitments and Contingencies (Note 11) | | | | | | | |
| Shareholders’ equity: | | | | | | | |
| Common stock — par value $1.00 per share (authorized 4,320,000,000 shares; issued 3,119,843,000 shares) | | $ | 3,120 | | | 3,120 | |
| Accumulated other comprehensive income (loss) (Note 7) | | (16,243 | ) | | (15,891 | ) | |
| Retained earnings | | 112,901 | | | 110,659 | | |
| Less: common stock held in treasury, at cost(487,451,000and 487,336,000 shares) | | 38,484 | | | 38,417 | | |
| Total shareholders’ equity | | 61,294 | | | 59,471 | | |
| Total liabilities and shareholders' equity | | $ | 155,017 | | | 157,728 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 |
|:--------------------------------------------------------------------------------------------------------|:-----------|:--------------------------|:-----------|:--------------|:-----------|:-----------|:-----------|
| JOHNSON & JOHNSON AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited; Dollars in Millions) | | | | | | | |
| | | | | | | | |
| | | Fiscal Three Months Ended | | | | | |
| | | March 29,2020 | | March 31,2019 | | | |
| CASH FLOWS FROM OPERATING ACTIVITIES | | | | | | | |
| Net earnings | | $ | 5,796 | | | 3,749 | |
| Adjustments to reconcile net earnings to cash flows from operating activities: | | | | | | | |
| Depreciation and amortization of property and intangibles | | 1,747 | | | 1,761 | | |
| Stock based compensation | | 263 | | | 258 | | |
| Asset write-downs | | 11 | | | 913 | | |
| Contingent consideration reversal | | (983 | ) | | — | | |
| Net gain on sale of assets/businesses | | — | | | (72 | ) | |
| Deferred tax provision | | 54 | | | (362 | ) | |
| Accounts receivable allowances and credit losses | | 22 | | | (3 | ) | |
| Changes in assets and liabilities, net of effects from acquisitions and divestitures: | | | | | | | |
| (Increase) / Decrease in accounts receivable | | (812 | ) | | 157 | | |
| Increase in inventories | | (159 | ) | | (369 | ) | |
| Decrease in accounts payable and accrued liabilities | | (2,523 | ) | | (1,833 | ) | |
| Decrease / (Increase) in other current and non-current assets | | 271 | | | (488 | ) | |
| Decrease in other current and non-current liabilities | | (329 | ) | | (168 | ) | |
| | | | | | | | |
| NET CASH FLOWS FROM OPERATING ACTIVITIES | | 3,358 | | | 3,543 | | |
| | | | | | | | |
| CASH FLOWS FROM INVESTING ACTIVITIES | | | | | | | |
| Additions to property, plant and equipment | | (625 | ) | | (656 | ) | |
| Proceeds from the disposal of assets/businesses, net | | 17 | | | 253 | | |
| Acquisitions, net of cash acquired | | (939 | ) | | (1,683 | ) | |
| Purchases of investments | | (2,064 | ) | | (730 | ) | |
| Sales of investments | | 1,544 | | | 1,495 | | |
| Proceeds from credit support agreements, net | | 1,743 | | | — | | |
| Other | | (257 | ) | | (96 | ) | |
| | | | | | | | |
| NET CASH USED BY INVESTING ACTIVITIES | | (581 | ) | | (1,417 | ) | |
| | | | | | | | |
| CASH FLOWS FROM FINANCING ACTIVITIES | | | | | | | |
| Dividends to shareholders | | (2,505 | ) | | (2,396 | ) | |
| Repurchase of common stock | | (1,711 | ) | | (2,206 | ) | |
| Proceeds from short-term debt | | 10 | | | 13 | | |
| Repayment of short-term debt | | (18 | ) | | (16 | ) | |
| Repayment of long-term debt | | (11 | ) | | (1,002 | ) | |
| Proceeds from the exercise of stock options/employee withholding tax on stock awards, net | | 332 | | | 94 | | |
| Other | | (412 | ) | | (3 | ) | |
| | | | | | | | |
| NET CASH USED BY FINANCING ACTIVITIES | | (4,315 | ) | | (5,516 | ) | |
| | | | | | | | |
| Effect of exchange rate changes on cash and cash equivalents | | (237 | ) | | 17 | | |
| Decrease in cash and cash equivalents | | (1,775 | ) | | (3,373 | ) | |
| Cash and Cash equivalents, beginning of period | | 17,305 | | | 18,107 | | |
| CASH AND CASH EQUIVALENTS, END OF PERIOD | | $ | 15,530 | | | 14,734 | |
| | | | | | | | |
| Acquisitions | | | | | | | |
| Fair value of assets acquired | | $ | 1,136 | | | 2,154 | |
| Fair value of liabilities assumed and noncontrolling interests | | (197 | ) | | (471 | ) | |
| Net cash paid for acquisitions | | $ | 939 | | | 1,683 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 |
|:-----------------------------------------------|:-----------|:---------------------------|:-----------|:----------------|:-----------|:--------------|:-----------|:----------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | Fiscal First Quarter Ended | | | | | | | | | | | | |
| | | March 29,2020 | | Percentto Sales | | March 31,2019 | | Percentto Sales | | | | | | |
| Sales to customers (Note 9) | | $ | 20,691 | | | 100.0 | % | | $ | 20,021 | | | 100.0 | % |
| Cost of products sold | | 7,062 | | | 34.1 | | | 6,615 | | | 33.0 | | | |
| Gross profit | | 13,629 | | | 65.9 | | | 13,406 | | | 67.0 | | | |
| Selling, marketing and administrative expenses | | 5,203 | | | 25.1 | | | 5,219 | | | 26.1 | | | |
| Research and development expense | | 2,580 | | | 12.5 | | | 2,858 | | | 14.3 | | | |
| In-process research and development | | — | | | — | | | 890 | | | 4.4 | | | |
| Interest income | | (67 | ) | | (0.3 | ) | | (99 | ) | | (0.5 | ) | | |
| Interest expense, net of portion capitalized | | 25 | | | 0.1 | | | 102 | | | 0.5 | | | |
| Other (income) expense, net | | (679 | ) | | (3.3 | ) | | (22 | ) | | (0.1 | ) | | |
| Restructuring (Note 12) | | 58 | | | 0.3 | | | 36 | | | 0.2 | | | |
| Earnings before provision for taxes on income | | 6,509 | | | 31.5 | | | 4,422 | | | 22.1 | | | |
| Provision for taxes on income (Note 5) | | 713 | | | 3.5 | | | 673 | | | 3.4 | | | |
| NET EARNINGS | | $ | 5,796 | | | 28.0 | % | | $ | 3,749 | | | 18.7 | % |
| | | | | | | | | | | | | | | |
| NET EARNINGS PER SHARE (Note 8) | | | | | | | | | | | | | | |
| Basic | | $ | 2.20 | | | | | $ | 1.41 | | | | | |
| Diluted | | $ | 2.17 | | | | | $ | 1.39 | | | | | |
| | | | | | | | | | | | | | | |
| AVG. SHARES OUTSTANDING | | | | | | | | | | | | | | |
| Basic | | 2,633.7 | | | | | 2,660.8 | | | | | | | |
| Diluted | | 2,671.0 | | | | | 2,698.8 | | | | | | | |
---
English News:
The Janssen Pharmaceutical Companies of Johnson & Johnson announced today the U.S. Food and Drug Administration (FDA) approved DARZALEX FASPRO (daratumumab and hyaluronidase-fihj), a new subcutaneous formulation of daratumumab. DARZALEX FASPRO is approved in four regimens across five indications in multiple myeloma patients, including newly diagnosed, transplant-ineligible patients as well as relapsed or refractory patients.As a fixed-dose formulation, DARZALEX FASPRO can be administered over approximately three to five minutes, significantly less time than DARZALEX,which is given intravenously over hours. In the Phase 3 COLUMBA study supporting the approval, DARZALEX FASPRO demonstrated a consistent overall response rate (ORR) and pharmacokinetics and a similar safety profile compared with intravenous DARZALEX in patients with relapsed or refractory multiple myeloma. In addition, there was a nearly two-thirds reduction in systemic administration-related reactions (ARRs) for DARZALEX FASPRO compared to intravenous DARZALEX (13 percent vs. 34 percent, respectively). Continue Reading (PRNewsfoto/The Janssen Pharmaceutical Comp) \"This approval exemplifies Janssen's mission and commitment to bringing together passion, science and ingenuity to advance novel solutions for patients,\" said Mathai Mammen, M.D., Ph.D., Global Head, Janssen Research & Development, LLC. \"We are excited about the potential of this meaningful innovation in transforming the treatment experience for patients with multiple myeloma where DARZALEX FASPRO can be administered in approximately three to five minutes, significantly less time than intravenous DARZALEX, which is given over hours. Based on its favorable profile, we are accelerating the development of DARZALEX FASPRO and evaluating its potential in multiple ongoing studies.\" Click to Tweet: #NEWS: #FDA approves subcutaneous CD38-directed antibody for the treatment of multiple #myeloma. See here for more details: https://bit.ly/2VozhzY The approval is based on data from the Phase 3 COLUMBA (MMY3012)and Phase 2 PLEIADES (MMY2040) studies.1,2 In the COLUMBA study, the ORR was non-inferior for patients taking DARZALEX FASPROas monotherapycompared to those taking intravenous DARZALEXas monotherapy (41 percent vs. 37 percent, respectively). In addition, there were fewer systemic ARRs with DARZALEX FASPRO versus intravenous DARZALEX (13 percent vs. 34 percent, respectively). In a pooled safety population of 490 patients who received DARZALEXFASPRO as monotherapy or in combination, the ARR rate wFas 11 percent. The safety profiles of intravenous DARZALEX and DARZALEX FASPRO were otherwise similar.1 Additionally, in the Phase 2 PLEIADES study evaluating the efficacy and safety of DARZALEX FASPRO in combination therapies, objective responses were demonstrated in combination with bortezomib, melphalan and prednisone (D-VMP) in newly diagnosed transplant ineligible patients. In addition, objective responses were demonstrated in combination with lenalidomide and dexamethasone (D-Rd) in relapsed or refractory patients who received one prior line of therapy.2\"The Multiple Myeloma Research Foundation shares a common goal with Janssen in advancing treatments for multiple myeloma and addressing the unmet needs of this patient community,\" said Paul Giusti, President and CEO of the Multiple Myeloma Research Foundation (MMRF). \"The approval of DARZALEXFASPRO marks an important milestone which will help make a positive difference in the lives of patients who depend on this effective therapy.\"Click to Tweet: [emailprotected] talks about advancing treatments for multiple #myeloma and addressing patient needs with latest #FDA approval. Read more here: https://bit.ly/2VozhzY \"Since the approval of daratumumab, a robust body of evidence has established its use as a treatment for multiple myeloma in both the frontline and relapsed and refractory settings,\" said Saad Z. Usmani, M.D., Division Chief of Plasma Cell Disorders, Levine Cancer Institute. \"With DARZALEX FASPRO there may be fewer administration-related reactions compared to intravenous DARZALEX, providing an additional treatment option that may help patients, oncologists and nursing staff.\"DARZALEX FASPROis co-formulated with recombinant human hyaluronidase PH20 (rHuPH20) [Halozyme'sENHANZEdrug delivery technology].DARZALEX FASPRO will be available to patients and physicians as soon as the week of May 11, 2020. The intravenous DARZALEX formulation will also remain available as an option for patients and their physicians. DARZALEX FASPROis approved in combination with bortezomib, melphalan and prednisone in newly diagnosed patients who are ineligible for autologous stem cell transplant, in combination with lenalidomide and dexamethasone in newly diagnosed patients who are ineligible for autologous stem cell transplant and in patients with relapsed or refractory multiple myeloma who have received at least one prior therapy, in combination with bortezomib and dexamethasone in patients who have received at least one prior therapy, as monotherapy, in patients who have received at least three prior lines of therapy including a proteasome inhibitor (PI) and an immunomodulatory agent or who are double-refractory to a PI and an immunomodulatory agent.The U.S. FDA approval of DARZALEX FASPRO marks the first approval for this innovative subcutaneous formulation globally, and Janssen continues to work with health authorities around the world in an effort to bring this new treatment option to patients living with multiple myeloma.Access to DARZALEX FASPRO (daratumumab and hyaluronidase-fihj)Janssen offers comprehensive access and support information, resources and services to assist U.S. patients in gaining access to DARZALEX FASPROthrough the Janssen CarePath Program. Through the program, eligible commercial patients pay no more than $5 per injection, regardless of individual income level. Information on the enrollment process is available online atwww.CarePathSavingsProgram.com/DARZALEX.For more information, healthcare providers or patients can contact: 1-844-55DARZA (1-844-553-2792). Information will also be available atwww.DARZALEX.com. Dedicated case coordinators are available to work with both healthcare providers and patients.About the COLUMBA Study 1The randomized, open-label, multicenter Phase 3 COLUMBA study (MMY3012) included 522 patients (median age of 67 years) with multiple myeloma who had received at least three prior lines of therapy including a proteasome inhibitor (PI) and an immunomodulatory drug (IMiD), or whose disease was refractory to both a PI and an IMiD. In the arm that received DARZALEX FASPRO(n=263), patients received a fixed dose of DARZALEX FASPRO1,800 milligrams (mg), co-formulated with recombinant human hyaluronidase PH20 (rHuPH20) 2,000 Units per milliliter (U/mL), subcutaneously weekly for Cycles 1 2, every two weeks for Cycles 3 6 and every four weeks for Cycle 7 and thereafter. In the intravenous DARZALEXarm (n=259), patients received DARZALEXfor intravenous infusion 16 milligrams per kilogram (mg/kg) weekly for Cycles 1 2, every two weeks for Cycles 3 6 and every four weeks for Cycle 7 and thereafter. Each cycle was 28 days. In the arm that received DARZALEX FASPRO, itwas given in a fixed volume of 15 mL over three to five minutes; the median injection time was five minutes. In the arm that received theintravenous administration, the median durations of the first, second and subsequent intravenous DARZALEXinfusions were 7.0, 4.3 and 3.4 hours, respectively.Patients in both arms continued treatment until disease progression or unacceptable toxicity.About the PLEIADES Study 2The non-randomized, open-label, parallel assignment Phase 2 PLEIADES study (MMY2040) included more than 240 adults with multiple myeloma, including 67 patients with newly diagnosed multiple myeloma who were treated with 1,800 mg of DARZALEX FASPROin combination with bortezomib, melphalan, and prednisone (D-VMP) and 65 patients with relapsed or refractory disease who were treated with 1,800 mg of DARZALEX FASPROplus lenalidomide and dexamethasone (D-Rd). The primary endpoint for the D-VMP and D-Rd cohorts was overall response rate.About DARZALEXand DARZALEX FASPROJanssen is committed to exploring the potential of DARZALEX (daratumumab) for patients with multiple myeloma across the spectrum of the disease. DARZALEX has been approved in seven indications, three of which are in the frontline setting, including newly diagnosed patients who are transplant eligible and ineligible.DARZALEX has become a backbone therapy in the treatment of multiple myeloma, having been used in the treatment of more than 58,000 patients in the U.S. alone since its U.S. FDA approval in 2015. DARZALEX is the first CD38-directed antibody approved globally to treat multiple myeloma and in 2020, DARZALEX FASPRO(daratumumab and hyaluronidase human-fihj) follows as the only subcutaneous CD38-directed antibody approved to treat patients with multiple myeloma.2CD38 is a surface protein that is present in high numbers on multiple myeloma cells, regardless of the stage of disease.4 DARZALEX binds to CD38 and inhibits tumor cell growth causing myeloma cell death.5 DARZALEX may also have an effect on normal cells.3 Data across seven Phase 3 clinical trials, in both the frontline and relapsed settings, have shown that DARZALEX-based regimens resulted in significant improvement in progression-free survival and/or overall survival. 4,5,6,7,8,9,10,11 Additional studies are underway to assess the efficacy and safety of DARZALEXFASPRO in the treatment of other malignant and pre-malignant hematologic diseases in which CD38 is expressed, including smoldering myeloma and in amyloidosis.12,13Key DARZALEX Milestones: In August 2012, Janssen entered into an exclusive global license and development agreement with Genmab A/S to develop, manufacture, and commercialize DARZALEX.14 In November 2015 DARZALEX received initial U.S. FDA approval as a monotherapy for the treatment of patients with multiple myeloma who have received at least three prior lines of therapy, including a proteasome inhibitor (PI) and an immunomodulatory agent, or who are double refractory to a PI and an immunomodulatory agent.15 In November 2016 DARZALEX received an additional approval in combination with lenalidomide and dexamethasone, or bortezomib and dexamethasone, for the treatment of patients with multiple myeloma who have received at least one prior therapy.16 In June 2017, DARZALEX received approval in combination with pomalidomide and dexamethasone for the treatment of patients with multiple myeloma who have received at least two prior therapies, including lenalidomide and a PI.17 In May 2018, DARZALEX received approval in combination with bortezomib, melphalan, and prednisone for the treatment of patients with newly diagnosed multiple myeloma who are ineligible for ASCT, making it the first monoclonal antibody approved for newly diagnosed patients with this disease.18 In June 2019, DARZALEX received approval in combination with lenalidomide and dexamethasone for the treatment of patients with newly diagnosed multiple myeloma who are transplant ineligible.19 In September 2019, DARZALEX received approval in combination with bortezomib, thalidomide, and dexamethasone for the treatment of newly diagnosed patients who are eligible for autologous stem cell transplant.20 In April 2020, DARZALEX FASPRO, a subcutaneous formulation of DARZALEX, received approval for the treatment of certain patients with newly diagnosed or relapsed/refractory multiple myeloma, including in combination with bortezomib, melphalan and prednisone in newly diagnosed patients who are ineligible for autologous stem cell transplant, in combination with lenalidomide and dexamethasone in newly diagnosed patients who are ineligible for autologous stem cell transplant and in patients with relapsed or refractory multiple myeloma who have received at least one prior therapy, in combination with bortezomib and dexamethasone in patients who have received at least one prior therapy, as monotherapy, in patients who have received at least three prior lines of therapy including a PI and an immunomodulatory agent or who are double-refractory to a PI and an immunomodulatory agent. Please see full Prescribing Information at www.DARZALEX.com. About Multiple MyelomaMultiple myeloma is an incurable blood cancer that affects a type of white blood cell called plasma cells, which are found in the bone marrow.21,22When damaged, these plasma cells rapidly spread and replace normal cells with tumors in the bone marrow. In 2020, it is estimated that 32,270 people will be diagnosed and 12,830 will die from the disease in the U.S.24 While some patients with multiple myeloma have no symptoms, most patients are diagnosed due to symptoms, which can include bone fracture or pain, low red blood cell counts, tiredness, high calcium levels, kidney problems or infections.23DARZALEX FASPROIMPORTANT SAFETY INFORMATION CONTRAINDICATIONSDARZALEX FASPRO is contraindicated in patients with a history of severe hypersensitivity to daratumumab, hyaluronidase or any of the components of the formulation.WARNINGS AND PRECAUTIONSHypersensitivity And Other Administration ReactionsBoth systemic administration-related reactions, including severe or life-threatening reactions, and local injection-site reactions can occur with DARZALEX FASPRO.Systemic ReactionsIn a pooled safety population of 490patients who received DARZALEX FASPROas monotherapy or in combination, 11% of patients experienced a systemic administration-related reaction (Grade 2: 3.9%, Grade 3: 1.4%). Systemic administration-related reactions occurred in 10% of patients with the first injection, 0.2% with the second injection, and cumulatively 0.8% with subsequent injections. The median time to onset was 3.7hours (range: 9minutes to 3.5days). Of the 84systemic administration-related reactions that occurred in 52patients, 73(87%) occurred on the day of DARZALEX FASPRO administration. Delayed systemic administration-related reactions have occurred in less than 1% of the patients.Severe reactions included hypoxia, dyspnea, hypertension and tachycardia. Other signs and symptoms of systemic administration-related reactions may include respiratory symptoms, such as bronchospasm, nasal congestion, cough, throat irritation, allergic rhinitis, and wheezing, as well as anaphylactic reaction, pyrexia, chest pain, pruritis, chills, vomiting, nausea, and hypotension.Pre-medicate patients with histamine-1 receptor antagonist, acetaminophen and corticosteroids. Monitor patients for systemic administration-related reactions, especially following the first and second injections. For anaphylactic reaction or life-threatening (Grade 4) administration-related reactions, immediately and permanently discontinue DARZALEX FASPRO. Consider administering corticosteroids and other medications after the administration of DARZALEX FASPRO depending on dosing regimen and medical history to minimize the risk of delayed (defined as occurring the day after administration) systemic administration-related reactions.Local ReactionsIn this pooled safety population, injection-site reactions occurred in 8% of patients, including Grade2 reactions in 0.6%. The most frequent (>1%) injection-site reaction was injection site erythema. These local reactions occurred a median of 7minutes (range: 0minutes to 4.7days) after starting administration of DARZALEX FASPRO. Monitor for local reactions and consider symptomatic management.NeutropeniaDaratumumab may increase neutropenia induced by background therapy. Monitor complete blood cell counts periodically during treatment according to manufacturer's prescribing information for background therapies. Monitor patients with neutropenia for signs of infection. Consider withholding DARZALEX FASPRO until recovery of neutrophils. In lower body weight patients receiving DARZALEX FASPRO, higher rates of Grade 3-4 neutropenia were observed.ThrombocytopeniaDaratumumab may increase thrombocytopenia induced by background therapy. Monitor complete blood cell counts periodically during treatment according to manufacturer's prescribing information for background therapies. Consider withholding DARZALEX FASPRO until recovery of platelets.Embryo-Fetal ToxicityBased on the mechanism of action, DARZALEX FASPRO can cause fetal harm when administered to a pregnant woman. DARZALEX FASPRO may cause depletion of fetal immune cells and decreased bone density. Advise pregnant women of the potential risk to a fetus. Advise females with reproductive potential to use effective contraception during treatment with DARZALEX FASPRO and for 3months after the last dose.The combination of DARZALEX FASPRO with lenalidomide is contraindicated in pregnant women, because lenalidomide may cause birth defects and death of the unborn child. Refer to the lenalidomide prescribing information on use during pregnancy.Interference with Serological TestingDaratumumab binds to CD38 on red blood cells (RBCs) and results in a positive Indirect Antiglobulin Test (Indirect Coombs test). Daratumumab-mediated positive indirect antiglobulin test may persist for up to 6months after the last daratumumab administration. Daratumumab bound to RBCs masks detection of antibodies to minor antigens in the patient's serum. The determination of a patient's ABO and Rh blood type are not impacted.Notify blood transfusion centers of this interference with serological testing and inform blood banks that a patient has received DARZALEX FASPRO. Type and screen patients prior to starting DARZALEX FASPRO.Interference with Determination of Complete ResponseDaratumumab is a human IgG kappa monoclonal antibody that can be detected on both the serum protein electrophoresis (SPE) and immunofixation (IFE) assays used for the clinical monitoring of endogenous M-protein. This interference can impact the determination of complete response and of disease progression in some DARZALEX FASPRO -treated patients with IgG kappa myeloma protein.Adverse ReactionsThe most common adverse reaction (20%) with DARZALEX FASPRO monotherapy is: upper respiratory tracts infection. The most common adverse reactions (20%) with D-VMP are upper respiratory tract infection, constipation, nausea, fatigue, pyrexia, peripheral sensory neuropathy, diarrhea, cough, insomnia, vomiting, and back pain. The most common adverse reactions (20%) with D-Rd are fatigue, diarrhea, upper respiratory tract infection, muscle spasms, constipation, pyrexia, pneumonia and dyspnea. The most common hematology laboratory abnormalities (40%) with DARZALEX FASPRO are decreased leukocytes, decreased lymphocytes, decreased neutrophils, decreased platelets, and decreased hemoglobin.Please see full Prescribing Information at www.DARZALEX.com. DARZALEX IMPORTANT SAFETY INFORMATIONCONTRAINDICATIONSDARZALEX (daratumumab) is contraindicated in patients with a history of severe hypersensitivity (e.g., anaphylactic reactions) to daratumumab or any of the components of the formulation.WARNINGS AND PRECAUTIONSInfusion Reactions DARZALEX can cause severe and/or serious infusion reactions, including anaphylactic reactions. In clinical trials, approximately half of all patients experienced an infusion reaction. Most infusion reactions occurred during the first infusion and were Grade 1-2. Infusion reactions can also occur with subsequent infusions. Nearly all reactions occurred during infusion or within 4 hours of completing DARZALEX.Prior to the introduction of post-infusion medication in clinical trials, infusion reactions occurred up to 48 hours after infusion. Severe reactions have occurred, including bronchospasm, hypoxia, dyspnea, hypertension, laryngeal edema, and pulmonary edema. Signs and symptoms may include respiratory symptoms, such as nasal congestion, cough, throat irritation, as well as chills, vomiting, and nausea. Less common symptoms were wheezing, allergic rhinitis, pyrexia, chest discomfort, pruritus, and hypotension.Pre-medicate patients with antihistamines, antipyretics, and corticosteroids. Frequently monitor patients during the entire infusion. Interrupt infusion for reactions of any severity and institute medical management as needed. Permanently discontinue therapy if an anaphylactic reaction or life-threatening (Grade 4) reaction occurs and institute appropriate emergency care.For patients with Grade 1, 2, or 3reactions, reduce the infusion rate when re-starting the infusion.To reduce the risk of delayed infusion reactions, administer oral corticosteroids to all patients following DARZALEX infusions. Patients with a history of chronic obstructive pulmonary disease may require additional post-infusion medications to manage respiratory complications. Consider prescribing short- and long-acting bronchodilators and inhaled corticosteroids for patients with chronic obstructive pulmonary disease.Interference with Serological Testing Daratumumab binds to CD38 on red blood cells (RBCs) and results in a positive Indirect Antiglobulin Test (Indirect Coombs test). Daratumumab-mediated positive indirect antiglobulin test may persist for up to 6 months after the last daratumumab infusion. Daratumumab bound to RBCs masks detection of antibodies to minor antigens in the patient's serum. The determination of a patient's ABO and Rh blood type are not impacted. Notify blood transfusion centers of this interference with serological testing and inform blood banks that a patient has received DARZALEX. Type and screen patients prior to starting DARZALEX.Neutropenia and Thrombocytopenia DARZALEX may increase neutropenia and/or thrombocytopenia induced by background therapy. Monitor complete blood cell counts periodically during treatment according to the manufacturer's prescribing information for background therapies. Monitor patients with neutropenia for signs of infection.DARZALEX dose delay may be required to allow recovery of neutrophils and/or platelets. No dose reduction of DARZALEX is recommended. Consider supportive care with growth factors for neutropenia or transfusions for thrombocytopenia.Interference with Determination of Complete Response Daratumumab is a human IgG kappa monoclonal antibody that can be detected on both the serum protein electrophoresis (SPE) and immunofixation (IFE) assays used for the clinical monitoring of endogenous M-protein. This interference can impact the determination of complete response and of disease progression in some patients with IgG kappa myeloma protein.Adverse Reactions The most frequently reported adverse reactions (incidence 20%) were: infusion reactions, neutropenia, thrombocytopenia, fatigue, asthenia, nausea, diarrhea, constipation, decreased appetite, vomiting, muscle spasms, arthralgia, back pain, pyrexia, chills, dizziness, insomnia, cough, dyspnea, peripheral edema, peripheral sensory neuropathy, bronchitis, pneumonia, and upper respiratory tract infection.DARZALEX in combination with lenalidomide and dexamethasone (DRd): The most frequent (20%) adverse reactions for newly diagnosed or relapsed/refractory patients were, respectively, infusion reactions (41%, 48%), diarrhea (57%, 43%), nausea (32%, 24%), fatigue (40%, 35%), pyrexia (23%, 20%), upper respiratory tract infection (52%, 65%), muscle spasms (29%, 26%), dyspnea (32%, 21%), and cough (30%, 30%). In newly diagnosed patients, constipation (41%), peripheral edema (41%), back pain (34%), asthenia (32%), bronchitis (29%), pneumonia (26%), peripheral sensory neuropathy (24%), and decreased appetite (22%) were also reported. In newly diagnosed patients, serious adverse reactions (2% compared to Rd)were pneumonia (15%), bronchitis (4%), and dehydration (2%), and treatment-emergent Grade 3-4 hematology laboratory abnormalities (20%) were neutropenia (56%), lymphopenia (52%), and leukopenia (35%). In relapsed/refractory patients, serious adverse reactions (2% compared to Rd)were pneumonia (12%), upper respiratory tract infection (7%), influenza (3%), and pyrexia (3%), and treatment-emergent Grade 3-4 hematology laboratory abnormalities (20%) were neutropenia (53%) and lymphopenia (52%). DARZALEXin combination with bortezomib, melphalan, and prednisone (DVMP): The most frequently reported adverse reactions (20%) were upper respiratory tract infection (48%), infusion reactions (28%), and peripheral edema (21%). Serious adverse reactions (2% compared to the VMP arm) were pneumonia (11%), upper respiratory tract infection (5%), and pulmonary edema (2%). Treatment-emergent Grade 3-4 hematology laboratory abnormalities (20%) were lymphopenia (58%), neutropenia (44%), and thrombocytopenia (38%).DARZALEX in combination with bortezomib and dexamethasone (DVd): Themost frequently reported adverse reactions (20%) were peripheral sensory neuropathy (47%), infusion reactions (45%), upper respiratory tract infection (44%), diarrhea (32%), cough (27%), peripheral edema (22%), and dyspnea (21%). The overall incidence of serious adverse reactions was 42%. Serious adverse reactions (2% compared to Vd) were upper respiratory tract infection (5%), diarrhea (2%), and atrial fibrillation (2%). Treatment-emergent Grade 3-4 hematology laboratory abnormalities (20%) were lymphopenia (48%) and thrombocytopenia (47%).DARZALEX in combination with bortezomib, thalidomide, and dexamethasone (DVTd): The most frequent adverse reactions (20%) were infusion reactions (35%), nausea (30%), upper respiratory tract infection (27%), pyrexia (26%), and bronchitis (20%). Serious adverse reactions (2% compared to the VTd arm) were bronchitis (DVTd 2% vs. VTd <1%)and pneumonia (DVTd 6% vs. VTd 4%). Treatment-emergent Grade 3-4 hematology laboratory abnormalities (20%) were lymphopenia (59%), neutropenia (33%), and leukopenia (24%).DARZALEX in combination with pomalidomide and dexamethasone (DPd): Themost frequent adverse reactions (>20%) were fatigue (50%), infusion reactions (50%), upper respiratory tract infection (50%), cough (43%), diarrhea (38%), constipation (33%), dyspnea (33%), nausea (30%), muscle spasms (26%), back pain (25%), pyrexia (25%), insomnia (23%), arthralgia (22%), dizziness (21%), and vomiting (21%). The overall incidence of serious adverse reactions was 49%. Serious adverse reactions reported in 5% of patients included pneumonia (7%).Treatment-emergent Grade 3-4 hematologylaboratory abnormalities (20%) were neutropenia (82%), lymphopenia (71%), and anemia (30%). DARZALEX as monotherapy: Themost frequently reported adverse reactions (20%) were infusion reactions (48%), fatigue (39%), nausea (27%), back pain (23%), pyrexia (21%), cough (21%), and upper respiratory tract infection (20%). The overall incidence of serious adverse reactions was 33%. The most frequent serious adverse reactions were pneumonia (6%), general physical health deterioration (3%), and pyrexia (3%). Treatment-emergent Grade 3-4 hematology laboratory abnormalities (20%) were lymphopenia (40%) and neutropenia (20%).Please see full Prescribing Information at www.DARZALEX.com. About the Janssen Pharmaceutical Companies of Johnson & Johnson At Janssen, we're creating a future where disease is a thing of the past. We're the Pharmaceutical Companies of Johnson & Johnson, working tirelessly to make that future a reality for patients everywhere by fighting sickness with science, improving access with ingenuity, and healing hopelessness with heart. We focus on areas of medicine where we can make the biggest difference: Cardiovascular & Metabolism, Immunology, Infectious Diseases & Vaccines, Neuroscience, Oncology, and Pulmonary Hypertension.Learn more at www.janssen.com. Follow us at www.twitter.com/JanssenGlobal. Janssen Research & Development, LLC and Janssen Biotech, Inc. are part of the Janssen Pharmaceutical Companies of Johnson & Johnson.Cautions Concerning Forward-Looking StatementsThis press release contains \"forward-looking statements\" as defined in the Private Securities Litigation Reform Act of 1995 regarding DARZALEX FASPRO. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Janssen Biotech, Inc. and/or Johnson & Johnson. Risks and uncertainties include, but are not limited to: challenges and uncertainties inherent in product research and development, including the uncertainty of clinical success and of obtaining regulatory approvals; uncertainty of commercial success; manufacturing difficulties and delays; competition, including technological advances, new products and patents attained by competitors; challenges to patents; product efficacy or safety concerns resulting in product recalls or regulatory action; changes in behavior and spending patterns of purchasers of health care products and services; changes to applicable laws and regulations, including global health care reforms; and trends toward health care cost containment. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended December 29, 2019, including in the sections captioned \"Cautionary Note Regarding Forward-Looking Statements\" and \"Item 1A. Risk Factors,\" and in the company's most recently filed Quarterly Report on Form 10-Q, and the company's subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.comor on request from Johnson & Johnson. None of the Janssen Pharmaceutical Companies nor Johnson & Johnson undertakes to update any forward-looking statement as a result of new information or future events or developments.ENHANZEis a registered trademark of Halozyme. 1Mateos M-V et al. Efficacy and Safety of the Randomized, Open-Label, Non-inferiority, Phase 3 Study of Subcutaneous (SC) Versus Intravenous (IV) Daratumumab (DARA) Administration in Patients (pts) With Relapsed or Refractory Multiple Myeloma (RRMM): COLUMBA. 2019 American Society of Clinical Oncology Annual Meeting. June 2019.2Janssen Research & Development, LLC. A Study to Evaluate Subcutaneous Daratumumab in Combination With Standard Multiple Myeloma Treatment Regimens. In: ClinicalTrials.gov [Internet]. Bethesda (MD): National Library of Medicine (US). 2000 [cited July 5, 2019]. Available at: https://clinicaltrials.gov/ct2/show/NCT03412565. Identifier: NCT03412565.32020Fedele G et al. CD38 Ligation in Peripheral Blood Mononuclear Cells of Myeloma Patients Induces Release of Protumorigenic IL-6 and Impaired Secretion of IFN Cytokines and Proliferation. Mediators Inflamm. 2013;564687.4Janssen Research & Development, LLC. A Study Comparing Daratumumab, Lenalidomide, and Dexamethasone With Lenalidomide and Dexamethasone in Relapsed or Refractory Multiple Myeloma. In: ClinicalTrials.gov [Internet]. Bethesda (MD): National Library of Medicine (US). 2000-[cited 2018 July 24]. Available at: https://clinicaltrials.gov/ct2/show/NCT02076009?term=mmy3003&rank=1 Identifier: NCT02136134 .5Janssen Research & Development, LLC. Addition of Daratumumab to Combination of Bortezomib and Dexamethasone in Participants With Relapsed or Refractory Multiple Myeloma. In: ClinicalTrials.gov [Internet]. Bethesda (MD): National Library of Medicine (US). 2000-[cited 2018 July 24]. Available at: https://clinicaltrials.gov/ct2/show/NCT02136134?term=mmy3004&rank=1 Identifier: NCT02076009.6Janssen Research & Development, LLC. A Study to Evaluate Daratumumab in Transplant Eligible Participants With Previously Untreated Multiple Myeloma (Cassiopeia). In: ClinicalTrials.gov [Internet]. Bethesda (MD): National Library of Medicine (US). 2000-[cited 2018 July 24]. Available at: https://clinicaltrials.gov/ct2/show/NCT02541383?term=mmy3006 Identifier: NCT02541383.7Janssen Research & Development, LLC. A Study of Combination of Daratumumab and Velcade (Bortezomib) Melphalan-Prednisone (DVMP) Compared to Velcade Melphalan-Prednisone (VMP) in Participants With Previously Untreated Multiple Myeloma In: ClinicalTrials.gov [Internet]. Bethesda (MD): National Library of Medicine (US). 2000-[cited 2018 July 24]. Available at: https://clinicaltrials.gov/ct2/show/NCT02195479?term=mmy3007&rank=1 Identifier: NCT02195479.8Janssen Research & Development, LLC. Study Comparing Daratumumab, Lenalidomide, and Dexamethasone With Lenalidomide and Dexamethasone in Participants With Previously Untreated Multiple Myeloma. In: ClinicalTri
Chinese News:
本周，美股迎来财报季“关键周”。就在大部分行业因“大封锁”叫苦不迭之际，医药股则成为疫情中显著的赢家。继上周的强生、罗氏之后，辉瑞和诺华也于当地时间4月28日发布一季度财报。根据各公司财报显示，第一季度“药企四巨头”业绩表现呈增长趋势，而追踪参与参与新冠研发企业股价的新冠病毒检测治疗指数（Covid-19 Testing&Treatment Index，简称Covid-19 Index），更实在今年上涨了80%，完胜标普500指数大盘。Covid-19 Index目前由29家公司制药公司和生物技术公司组成，这些公司均正在参与测试和治疗新冠病毒，其中包括吉利德科学、Biogen、强生、罗氏、安进、赛诺菲、雅培、Moderna等。按市值计算，其最大的组成部分是强生、罗氏、辉瑞和诺华。截至当地时间4月27日，Covid-19 Index在2020年已经超涨80%。不过，“四巨头”股价在2020年的表现喜忧参半。2020年至今，强生股价已累计上涨3.78%，罗氏股价已累计上涨15.63%，诺华股价已累计下跌4.68%，辉瑞股价已累计下跌3.24%。创新药物销售额逆势增长 作为2019年Fierce Pharma收入前20名的制药企业排行榜的前四强，强生、罗氏、辉瑞和诺华在第一季度的表现备受关注。上周，强生和罗氏率先公布2020财年第一季度财报。强生第一季度销售额为206.91亿美元，去年同期为200.21亿美元，同比增长3.3%；未经调整的净利润为57.96亿美元，同比增长54.6%。按业务来看，第一季度制药部门销售额增长8.7%至111.3亿美元，消费者健康部门销售额增长9.2%至36.25亿美元，而医疗器械部门销售额下降8.2%至59.32亿美元。强生在其财报中指出，用于治疗多发性骨髓瘤的Darzalex销售额同比增长49%，成为强生肿瘤药头牌；用于慢性淋巴细胞白血病(CLL)的Imbruvica同比增长31.6%。这两款药物的强劲表现令肿瘤药业务增幅为19.7%，是该集团表现最亮眼的部门。罗氏第一季度销售额增长7%，达151.43亿瑞士法郎（约155亿美元） 。在免疫疗法Tecentriq、血友病药物Hemlibra、多发性硬化症药物Ocrevus和乳腺癌药物Perjeta四大新药的推动下，罗氏制药销售额增长7%，达122.62亿瑞士法郎 (约125亿美元)。罗氏诊断产品销售额增长5%，达28.82亿瑞士法郎（约29亿美元），分子检测是该业务的主要贡献者。当地时间4月28日，诺华和辉瑞公布第一季度财报。诺华第一季度净销售额为122.83亿美元，同比增长11%；净利润为21.73亿美元，同比增长22%；每股收益为0.96美元，同比增长16%。其创新药物部（Innovative Medicines）的增长主要来自同比增长62%的心衰药物Entresto、同比增长82%的乳腺癌药物Kisqali以及同比增长19%的类风湿关节炎治疗药物Cosentyx。此外，诺华指出，其仿制药业务（Sandoz）的增长主要源于新冠病毒相关药物的长期采购影响，至少为其带来4亿美元的额外收入。辉瑞第一季度营收为120.28亿美元，同比下降8%；如果除去消费者健康业务，同比下降1%；净利润为34.01亿美元，同比下降12%。辉瑞第一季度调整后每股收益为0.80美元，同比下降5%。对于辉瑞来说，最大的挑战来自普强（Upjohn）。受专利到期后，仿制药带来的持续冲击，第一季度Upjohn营收为20.22亿美元，同比下降37%。不过，其创新药物（BioPharma）营收为100.07亿美元，同比增长11%，主要受抗凝药物Eliquis和乳腺癌新药Ibrance的推动。辉瑞是“四巨头”之中唯一一个净利润出现下降的公司。对此，辉瑞CEO Albert Bourla表示，“尽管受到疫情影响，公司业绩下滑。但在2022年之前，大约有25-30个产品获批，其中15个有望成为重磅产品。辉瑞新的架构在过渡以后，预计将会得到更高、更持久的营收增长。”抗病毒各显神通 尽管欧美各国的疫情有放缓的趋势，但是美国新冠肺炎确诊病例已超过100万人。美国国家过敏和传染病研究所所长福奇(Anthony Fauci)也于4月28日警告称，如果没有找到有效的治疗新冠病毒的方法，美国可能将迎来一个“糟糕的秋天”。他强调，新冠病毒“不会从地球上消失”。这一观点令投资者恐慌加剧，将希望寄托于医药企业，希望他们尽早研发出抑制病毒的疗法。强生在第一季度财报中披露了新冠病毒疫苗的进展。强生预计6月份之前完成生产前准备工作，9月份启动首次人体临床研究，12月份获得初步临床数据，2021年第一季度可获得第一个批次的疫苗，并能够满足紧急授权使用。强生承诺将向全球范围提供10亿剂疫苗。强生首席执行官Alex Gorsky表示，“我们正在利用我们的科学专业知识、操作规模和资金实力，努力推进我们的新冠病毒候选疫苗的研究工作。我们承诺立即在有风险的情况下开始生产，并在不盈利的基础上向公众提供可负担得起的和可获得的疫苗，以应付此次紧急卫生事件。”辉瑞也透露，该公司和德国生物科技公司BioNTech联合开发的BNT162新冠肺炎疫苗已经获德国疫苗和生物医学联邦研究所Paul Ehrlich Institute监管批准，有望在本月底进入人体试验阶段，预期在年内能生产“数百万支”疫苗。Bourla表示，“我们的研究人员和科学家也一直在探索辉瑞现有药物的潜在新用途，以帮助受感染的患者。我们的目标是不遗余力地探索每一种选择，为社会提供治疗或疫苗。”虽然没有研发疫苗，罗氏在其财报中指出，该公司已推出Cobas新冠病毒检测诊断系统。据悉，Cobas新冠肺炎病毒诊断系统能让医院和实验室进行大规模的病毒检测，使用该诊断系统能在3.5小时之后获得诊断结果。目前该诊断系统已经获得FDA紧急许可，也已经能在全球所有认可欧盟标准的市场获得许可，预计将在5月初获批上市，而其月产量有望在6月前达到千万份（high double-digit million）。此外，罗氏正在针对托珠单抗治疗新冠病毒在多国开展III期临床试验，有望在初夏得到试验结果，同时托珠单抗增产也在进行中。Federated Hermes投资组合经理Steve Chiavarone表示，“目前有70多种疫苗正在研发中，因此，无论哪一家公司最先成功，都有可能从中受益。更广泛地说，这与疫苗无关，更重要的是我们将如何走出这场危机。”全年展望弱化新冠影响 尽管新冠疫情的前景充满不确定性，但是他们仍然确认了2020年全年预期。罗氏认为，新冠病毒大流行对部分市场的影响波动对第一季度的经营业绩影响有限，全球药品和检测产品供应链仍完好无损。根据目前对新冠病毒影响的评估，确定了2020年公司前景，在固定汇率下，销售额将在中、低个位数的范围内增长；核心每股收益的增长目标将与销售额大致一致。辉瑞则重申其全年调整后每股收益2.82美元至2.92美元，营收将在485美元至505亿美元。不过，辉瑞也在财报中指出，为了应对新冠病毒大流行，辉瑞多项正在进行和新的临床试验注册受阻。此外，拟议的Mylan和Upjohn合并交易也未能如期完成，将延期至2020年下半年结束。令人意外的是，业绩表现抢眼的强生下调了其全年展望。强生预计，受新冠肺炎疫情影响，公司2020年营收将为775亿美元至805亿美元，同比下滑2.0%至5.5%；该公司此前预计2020年营收将为854亿美元至862亿美元，同比增长4.0%至5.0%。调整后的每股收益为7.50美元至7.90美元，同比下滑9%至13.6%；此前预计调整后的每股收益为8.95美元至9.10美元，同比增长3.1%至4.8%。诺华维持了原先的预期。诺华预计，其2020年净销售额将在中、高个位数的范围内增长，其中创新药物业务将在中、高个位数的范围内增长；仿制药业务将在低个位数范围内增长。诺华集团首席执行官万思瀚（Vas Narasimhan）表示，“+11%的爆发增长，让诺华在2020迎来了一个强劲的开局。我们继续向患者提供我们的药物，并推进我们的创新渠道，这反映在我们第一季度强劲的运营业绩上。虽然未来一年仍有许多不确定因素，但我们目前仍维持全年展望，并将继续发挥我们的作用，以克服流感大流行。”Chiavarone认为，在卫生保健领域，那些帮助大家渡过这次新冠病毒大流行的公司可能才是赢家。Chiavarone补充道，“我认为我们已经认识到的一件事是，我们的卫生保健系统没有为此做好准备。因此，我们预计未来将会发生的一件事情是建立关键医疗设备和关键抗病毒药物的战略储备。我们预计会有大量采购发生或在这些领域掀起一场购买狂潮。”
Japanese News:
米ジョンソン・エンド・ジョンソン（J&J）は、2020年第1四半期（1～3月期）の決算において増収増益となった。新型コロナウイルスの世界的な感染拡大を背景に、解熱鎮痛薬「タイレノール」など日用品やヘルスケア製品の需要が急激に伸びたことが主な要因。ただ一方では、感染対応を優先する医療現場で緊急性が低い手術が延期されたことで、医療機器の売上は落ち込んだ。こうした影響を考慮し、J&Jは2020年通期の業績予想を下方修正した。 第1四半期の業績は、前年同時期と比較して売上と利益がともに改善したほか、四半期配当の引き上げも発表された。特に家庭向けの日用品（シャンプーや鎮痛剤）の売上が大きく貢献した。これは各国で外出制限措置が導入され、消費者が生活必需品を買いだめしたことが影響したとみられる。 しかし、医療機器部門の業績は悪化した。各医療機関が新型コロナ感染症患者の治療を優先した結果、緊急性の低い外科手術を中止または延期したことが影響した。同社最大のセグメントである医薬品事業は比較的安定した需要を維持したが、患者が薬品を30日分から90日分へとまとめ買いする動きが見られたためとされている。 新型コロナの感染が米国内で本格的に深刻化したのは3月に入ってからだった。同社の第1四半期売上高は前年同期比で3.3％増の206億9000万ドル（約2兆2200億円）となった。また調整後の1株当たり利益は前年同期の2.10ドルから2.30ドルに増加した。 一方、2020年通期の売上高については、当初予測の858億～866億ドルから、792億～822億ドルへと下方修正した。
Spanish News:
La multinacional farmacéutica Johnson & Johnson informó este martes que anticipa una recuperación de su segmento de dispositivos médicos hacia finales del año, especialmente durante el último trimestre, cuando prevé que se retomen procedimientos médicos opcionales que han sufrido retrasos por la crisis del COVID-19. Como consecuencia directa del impacto de la pandemia en este negocio, que incluye implantes ortopédicos como los de cadera y rodilla, la compañía ajustó a la baja su previsión de beneficios para todo el año. Esta división representa aproximadamente un 30% del total de ventas trimestrales. Sin embargo, el mercado recibió positivamente el hecho de que Johnson & Johnson mantuviera una previsión ajustada para 2020, pese al difícil panorama global generado por la pandemia. Además, la empresa incrementó su dividendo trimestral a 1,01 dólares por acción, lo que impulsó sus títulos bursátiles casi un 5%, situándose en 146,89 dólares por acción. La empresa proyectó unas ganancias ajustadas para este año entre 7,50 y 7,90 dólares por acción, cifras inferiores a las estimaciones anteriores, que estaban entre 8,95 y 9,10 dólares. Estas nuevas previsiones se elaboraron bajo el supuesto de que una posible segunda ola del coronavirus en otoño tendría características y efectos diferentes a la crisis actual. El director financiero de Johnson & Johnson, Joseph Wolk, afirmó durante una conferencia telefónica que, en caso de que el virus resurja, los sistemas sanitarios estarían mejor preparados para realizar pruebas diagnósticas, detectar casos e implementar aislamientos oportunos. Asimismo, se mostró optimista sobre la disponibilidad de tratamientos efectivos para entonces. Según Wolk, es probable que los procedimientos médicos no esenciales y las consultas presenciales se reanuden en gran medida durante la segunda mitad del año. Esto implica que la división médica continuará experimentando efectos negativos en el corto plazo, aunque comenzaría a mostrar signos de estabilización a partir del tercer trimestre. Actualmente, diversas compañías farmacéuticas están intensificando esfuerzos para obtener tratamientos efectivos y vacunas contra el coronavirus, que hasta ahora ha infectado a cerca de 2 millones de personas en todo el mundo. En este contexto, Johnson & Johnson confirmó que está trabajando en una vacuna, cuyos primeros ensayos clínicos en humanos están previstos para septiembre, con la meta de conseguir una autorización provisional para principios del próximo año. El CEO de la compañía, Alex Gorsky, aseguró que la vacuna se está desarrollando con la intención expresa de no generar beneficios económicos en situaciones de emergencia global. En cuanto a los resultados trimestrales específicos, Johnson & Johnson —primer gran laboratorio estadounidense en publicar resultados tras la crisis sanitaria— reportó que sus ventas en la división de instrumental médico descendieron un 8,2%, situándose en 5.930 millones de dólares. Dentro de esta categoría, los productos para cirugía ortopédica y corrección visual, que suelen ofrecer márgenes elevados, fueron los más afectados. Por otro lado, el segmento farmacéutico mostró un crecimiento del 8,7%, alcanzando ventas por 11.130 millones de dólares, impulsado principalmente por una mayor demanda de fármacos oncológicos como Darzalex e Imbruvica. Finalmente, los productos de salud de consumo experimentaron un incremento en sus ventas del 9,2%, alcanzando los 3.630 millones de dólares. Este resultado estuvo respaldado por la fuerte demanda de medicamentos populares contra la fiebre y la tos, como Tylenol y Motrin, ante los síntomas típicos asociados al coronavirus.
Greek News:
Η Johnson & Johnson εξακολουθεί να βρίσκεται αντιμέτωπη με σημαντικές νομικές προκλήσεις στις ΗΠΑ, καθώς περισσότερες από 16.000 αγωγές έχουν κατατεθεί εναντίων της με κατηγορίες ότι το παιδικό ταλκ της εταιρείας περιέχει ίχνη αμιάντου και σχετίζεται με περιπτώσεις καρκίνου. Δικαστής στο New Jersey επέτρεψε την συνέχιση των δικών για τις αγωγές, με περιορισμούς ως προς τις καταθέσεις ειδικών μαρτύρων. Η εταιρία διαβεβαιώνει πως οι εξετάσεις που πραγματοποιήθηκαν από ανεξάρτητες εξετάσεις δεν εντόπισαν αμίαντο, παρόλα αυτά έχουν επιδικαστεί αποζημιώσεις, όπως τα $ 20 εκατομμύρια σε ενάγουσα στην California. Η εταιρεία, αναγνωρίζοντας τους ενδεχόμενους κινδύνους, σημειώνει πως, σύμφωνα με την αξιολόγηση των μέχρι στιγμής δεδομένων και σε συνεργασία με νομικούς της συμβούλους, δεν αναμένεται ουσιώδης αρνητική επίδραση από τις αγωγές στη συνολική χρηματοοικονομική της θέση. Όμως, η πιθανή επίλυση αυτών των δικαστικών εκκρεμοτήτων ή η πιθανή αύξηση μελλοντικών προβλέψεων ώστε παρόμοια συμβάντα να μην επαναληφθούν, ενδέχεται να επηρεάσει αρνητικά τα αποτελέσματα χρήσης και τις ταμειακές ροές σε μεμονωμένες περιόδους. Παρά τις προκλήσεις, σε λειτουργικό επίπεδο, η Johnson & Johnson κατέγραψε αύξηση πωλήσεων κατά 3,3% το πρώτο τρίμηνο του 2020, με τα συνολικά έσοδα να ανέρχονται στα $ 20,7 δισεκατομμύρια. Η λειτουργική ανάπτυξη άγγιξε το 4,8% συγκριτικά με την αντίστοιχη περίοδο του 2019. Η ανοδική δυναμική της εταιρίας επηρεάστηκε από τις αρνητικές συναλλαγματικές διακυμάνσεις και την πανδημία COVID-19.
Question:
What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Johnson & Johnson is maintaining profit margins by leveraging strong pharmaceutical sales and controlling operational costs despite COVID-19. In Q1 2020, it reported a gross profit of $14.3B on $20.7B million in sales, yielding a gross margin of approximately 69%.
Financial Statement Evidence:
Gross profit: $13,629M; Sales to customers: $20,691M |
JNJ_20200429 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 |
|:--------------------------------------------------------------------------------------------------------|:-----------|:---------------|:-----------|:------------------|:-----------|:-----------|:-----------|
| | | | | | | | |
| | | | | | | | |
| | | March 29, 2020 | | December 29, 2019 | | | |
| ASSETS | | | | | | | |
| Current assets: | | | | | | | |
| Cash and cash equivalents | | $ | 15,530 | | | 17,305 | |
| Marketable securities | | 2,494 | | | 1,982 | | |
| Accounts receivable, trade, less allowances for doubtful accounts and credit losses $234 (2019, $226) | | 14,874 | | | 14,481 | | |
| Inventories (Note 2) | | 8,868 | | | 9,020 | | |
| Prepaid expenses and other | | 2,358 | | | 2,392 | | |
| Assets held for sale (Note 10) | | 102 | | | 94 | | |
| Total current assets | | 44,226 | | | 45,274 | | |
| Property, plant and equipment at cost | | 43,247 | | | 43,332 | | |
| Less: accumulated depreciation | | (25,846 | ) | | (25,674 | ) | |
| Property, plant and equipment, net | | 17,401 | | | 17,658 | | |
| Intangible assets, net (Note 3) | | 47,338 | | | 47,643 | | |
| Goodwill (Note 3) | | 33,471 | | | 33,639 | | |
| Deferred taxes on income (Note 5) | | 7,539 | | | 7,819 | | |
| Other assets | | 5,042 | | | 5,695 | | |
| Total assets | | $ | 155,017 | | | 157,728 | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | |
| Current liabilities: | | | | | | | |
| Loans and notes payable | | $ | 2,190 | | | 1,202 | |
| Accounts payable | | 7,411 | | | 8,544 | | |
| Accrued liabilities | | 8,384 | | | 9,715 | | |
| Accrued rebates, returns and promotions | | 11,608 | | | 10,883 | | |
| Accrued compensation and employee related obligations | | 2,166 | | | 3,354 | | |
| Accrued taxes on income (Note 5) | | 1,930 | | | 2,266 | | |
| Total current liabilities | | 33,689 | | | 35,964 | | |
| Long-term debt (Note 4) | | 25,393 | | | 26,494 | | |
| Deferred taxes on income(Note 5) | | 5,766 | | | 5,958 | | |
| Employee related obligations (Note 6) | | 10,529 | | | 10,663 | | |
| Long-term taxes payable (Note 5) | | 7,402 | | | 7,444 | | |
| Other liabilities | | 10,944 | | | 11,734 | | |
| Total liabilities | | 93,723 | | | 98,257 | | |
| Commitments and Contingencies (Note 11) | | | | | | | |
| Shareholders’ equity: | | | | | | | |
| Common stock — par value $1.00 per share (authorized 4,320,000,000 shares; issued 3,119,843,000 shares) | | $ | 3,120 | | | 3,120 | |
| Accumulated other comprehensive income (loss) (Note 7) | | (16,243 | ) | | (15,891 | ) | |
| Retained earnings | | 112,901 | | | 110,659 | | |
| Less: common stock held in treasury, at cost(487,451,000and 487,336,000 shares) | | 38,484 | | | 38,417 | | |
| Total shareholders’ equity | | 61,294 | | | 59,471 | | |
| Total liabilities and shareholders' equity | | $ | 155,017 | | | 157,728 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 |
|:--------------------------------------------------------------------------------------------------------|:-----------|:--------------------------|:-----------|:--------------|:-----------|:-----------|:-----------|
| JOHNSON & JOHNSON AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited; Dollars in Millions) | | | | | | | |
| | | | | | | | |
| | | Fiscal Three Months Ended | | | | | |
| | | March 29,2020 | | March 31,2019 | | | |
| CASH FLOWS FROM OPERATING ACTIVITIES | | | | | | | |
| Net earnings | | $ | 5,796 | | | 3,749 | |
| Adjustments to reconcile net earnings to cash flows from operating activities: | | | | | | | |
| Depreciation and amortization of property and intangibles | | 1,747 | | | 1,761 | | |
| Stock based compensation | | 263 | | | 258 | | |
| Asset write-downs | | 11 | | | 913 | | |
| Contingent consideration reversal | | (983 | ) | | — | | |
| Net gain on sale of assets/businesses | | — | | | (72 | ) | |
| Deferred tax provision | | 54 | | | (362 | ) | |
| Accounts receivable allowances and credit losses | | 22 | | | (3 | ) | |
| Changes in assets and liabilities, net of effects from acquisitions and divestitures: | | | | | | | |
| (Increase) / Decrease in accounts receivable | | (812 | ) | | 157 | | |
| Increase in inventories | | (159 | ) | | (369 | ) | |
| Decrease in accounts payable and accrued liabilities | | (2,523 | ) | | (1,833 | ) | |
| Decrease / (Increase) in other current and non-current assets | | 271 | | | (488 | ) | |
| Decrease in other current and non-current liabilities | | (329 | ) | | (168 | ) | |
| | | | | | | | |
| NET CASH FLOWS FROM OPERATING ACTIVITIES | | 3,358 | | | 3,543 | | |
| | | | | | | | |
| CASH FLOWS FROM INVESTING ACTIVITIES | | | | | | | |
| Additions to property, plant and equipment | | (625 | ) | | (656 | ) | |
| Proceeds from the disposal of assets/businesses, net | | 17 | | | 253 | | |
| Acquisitions, net of cash acquired | | (939 | ) | | (1,683 | ) | |
| Purchases of investments | | (2,064 | ) | | (730 | ) | |
| Sales of investments | | 1,544 | | | 1,495 | | |
| Proceeds from credit support agreements, net | | 1,743 | | | — | | |
| Other | | (257 | ) | | (96 | ) | |
| | | | | | | | |
| NET CASH USED BY INVESTING ACTIVITIES | | (581 | ) | | (1,417 | ) | |
| | | | | | | | |
| CASH FLOWS FROM FINANCING ACTIVITIES | | | | | | | |
| Dividends to shareholders | | (2,505 | ) | | (2,396 | ) | |
| Repurchase of common stock | | (1,711 | ) | | (2,206 | ) | |
| Proceeds from short-term debt | | 10 | | | 13 | | |
| Repayment of short-term debt | | (18 | ) | | (16 | ) | |
| Repayment of long-term debt | | (11 | ) | | (1,002 | ) | |
| Proceeds from the exercise of stock options/employee withholding tax on stock awards, net | | 332 | | | 94 | | |
| Other | | (412 | ) | | (3 | ) | |
| | | | | | | | |
| NET CASH USED BY FINANCING ACTIVITIES | | (4,315 | ) | | (5,516 | ) | |
| | | | | | | | |
| Effect of exchange rate changes on cash and cash equivalents | | (237 | ) | | 17 | | |
| Decrease in cash and cash equivalents | | (1,775 | ) | | (3,373 | ) | |
| Cash and Cash equivalents, beginning of period | | 17,305 | | | 18,107 | | |
| CASH AND CASH EQUIVALENTS, END OF PERIOD | | $ | 15,530 | | | 14,734 | |
| | | | | | | | |
| Acquisitions | | | | | | | |
| Fair value of assets acquired | | $ | 1,136 | | | 2,154 | |
| Fair value of liabilities assumed and noncontrolling interests | | (197 | ) | | (471 | ) | |
| Net cash paid for acquisitions | | $ | 939 | | | 1,683 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 |
|:-----------------------------------------------|:-----------|:---------------------------|:-----------|:----------------|:-----------|:--------------|:-----------|:----------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | Fiscal First Quarter Ended | | | | | | | | | | | | |
| | | March 29,2020 | | Percentto Sales | | March 31,2019 | | Percentto Sales | | | | | | |
| Sales to customers (Note 9) | | $ | 20,691 | | | 100.0 | % | | $ | 20,021 | | | 100.0 | % |
| Cost of products sold | | 7,062 | | | 34.1 | | | 6,615 | | | 33.0 | | | |
| Gross profit | | 13,629 | | | 65.9 | | | 13,406 | | | 67.0 | | | |
| Selling, marketing and administrative expenses | | 5,203 | | | 25.1 | | | 5,219 | | | 26.1 | | | |
| Research and development expense | | 2,580 | | | 12.5 | | | 2,858 | | | 14.3 | | | |
| In-process research and development | | — | | | — | | | 890 | | | 4.4 | | | |
| Interest income | | (67 | ) | | (0.3 | ) | | (99 | ) | | (0.5 | ) | | |
| Interest expense, net of portion capitalized | | 25 | | | 0.1 | | | 102 | | | 0.5 | | | |
| Other (income) expense, net | | (679 | ) | | (3.3 | ) | | (22 | ) | | (0.1 | ) | | |
| Restructuring (Note 12) | | 58 | | | 0.3 | | | 36 | | | 0.2 | | | |
| Earnings before provision for taxes on income | | 6,509 | | | 31.5 | | | 4,422 | | | 22.1 | | | |
| Provision for taxes on income (Note 5) | | 713 | | | 3.5 | | | 673 | | | 3.4 | | | |
| NET EARNINGS | | $ | 5,796 | | | 28.0 | % | | $ | 3,749 | | | 18.7 | % |
| | | | | | | | | | | | | | | |
| NET EARNINGS PER SHARE (Note 8) | | | | | | | | | | | | | | |
| Basic | | $ | 2.20 | | | | | $ | 1.41 | | | | | |
| Diluted | | $ | 2.17 | | | | | $ | 1.39 | | | | | |
| | | | | | | | | | | | | | | |
| AVG. SHARES OUTSTANDING | | | | | | | | | | | | | | |
| Basic | | 2,633.7 | | | | | 2,660.8 | | | | | | | |
| Diluted | | 2,671.0 | | | | | 2,698.8 | | | | | | | |
---
English News:
The Janssen Pharmaceutical Companies of Johnson & Johnson announced today the U.S. Food and Drug Administration (FDA) approved DARZALEX FASPRO (daratumumab and hyaluronidase-fihj), a new subcutaneous formulation of daratumumab. DARZALEX FASPRO is approved in four regimens across five indications in multiple myeloma patients, including newly diagnosed, transplant-ineligible patients as well as relapsed or refractory patients.As a fixed-dose formulation, DARZALEX FASPRO can be administered over approximately three to five minutes, significantly less time than DARZALEX,which is given intravenously over hours. In the Phase 3 COLUMBA study supporting the approval, DARZALEX FASPRO demonstrated a consistent overall response rate (ORR) and pharmacokinetics and a similar safety profile compared with intravenous DARZALEX in patients with relapsed or refractory multiple myeloma. In addition, there was a nearly two-thirds reduction in systemic administration-related reactions (ARRs) for DARZALEX FASPRO compared to intravenous DARZALEX (13 percent vs. 34 percent, respectively). Continue Reading (PRNewsfoto/The Janssen Pharmaceutical Comp) \"This approval exemplifies Janssen's mission and commitment to bringing together passion, science and ingenuity to advance novel solutions for patients,\" said Mathai Mammen, M.D., Ph.D., Global Head, Janssen Research & Development, LLC. \"We are excited about the potential of this meaningful innovation in transforming the treatment experience for patients with multiple myeloma where DARZALEX FASPRO can be administered in approximately three to five minutes, significantly less time than intravenous DARZALEX, which is given over hours. Based on its favorable profile, we are accelerating the development of DARZALEX FASPRO and evaluating its potential in multiple ongoing studies.\" Click to Tweet: #NEWS: #FDA approves subcutaneous CD38-directed antibody for the treatment of multiple #myeloma. See here for more details: https://bit.ly/2VozhzY The approval is based on data from the Phase 3 COLUMBA (MMY3012)and Phase 2 PLEIADES (MMY2040) studies.1,2 In the COLUMBA study, the ORR was non-inferior for patients taking DARZALEX FASPROas monotherapycompared to those taking intravenous DARZALEXas monotherapy (41 percent vs. 37 percent, respectively). In addition, there were fewer systemic ARRs with DARZALEX FASPRO versus intravenous DARZALEX (13 percent vs. 34 percent, respectively). In a pooled safety population of 490 patients who received DARZALEXFASPRO as monotherapy or in combination, the ARR rate wFas 11 percent. The safety profiles of intravenous DARZALEX and DARZALEX FASPRO were otherwise similar.1 Additionally, in the Phase 2 PLEIADES study evaluating the efficacy and safety of DARZALEX FASPRO in combination therapies, objective responses were demonstrated in combination with bortezomib, melphalan and prednisone (D-VMP) in newly diagnosed transplant ineligible patients. In addition, objective responses were demonstrated in combination with lenalidomide and dexamethasone (D-Rd) in relapsed or refractory patients who received one prior line of therapy.2\"The Multiple Myeloma Research Foundation shares a common goal with Janssen in advancing treatments for multiple myeloma and addressing the unmet needs of this patient community,\" said Paul Giusti, President and CEO of the Multiple Myeloma Research Foundation (MMRF). \"The approval of DARZALEXFASPRO marks an important milestone which will help make a positive difference in the lives of patients who depend on this effective therapy.\"Click to Tweet: [emailprotected] talks about advancing treatments for multiple #myeloma and addressing patient needs with latest #FDA approval. Read more here: https://bit.ly/2VozhzY \"Since the approval of daratumumab, a robust body of evidence has established its use as a treatment for multiple myeloma in both the frontline and relapsed and refractory settings,\" said Saad Z. Usmani, M.D., Division Chief of Plasma Cell Disorders, Levine Cancer Institute. \"With DARZALEX FASPRO there may be fewer administration-related reactions compared to intravenous DARZALEX, providing an additional treatment option that may help patients, oncologists and nursing staff.\"DARZALEX FASPROis co-formulated with recombinant human hyaluronidase PH20 (rHuPH20) [Halozyme'sENHANZEdrug delivery technology].DARZALEX FASPRO will be available to patients and physicians as soon as the week of May 11, 2020. The intravenous DARZALEX formulation will also remain available as an option for patients and their physicians. DARZALEX FASPROis approved in combination with bortezomib, melphalan and prednisone in newly diagnosed patients who are ineligible for autologous stem cell transplant, in combination with lenalidomide and dexamethasone in newly diagnosed patients who are ineligible for autologous stem cell transplant and in patients with relapsed or refractory multiple myeloma who have received at least one prior therapy, in combination with bortezomib and dexamethasone in patients who have received at least one prior therapy, as monotherapy, in patients who have received at least three prior lines of therapy including a proteasome inhibitor (PI) and an immunomodulatory agent or who are double-refractory to a PI and an immunomodulatory agent.The U.S. FDA approval of DARZALEX FASPRO marks the first approval for this innovative subcutaneous formulation globally, and Janssen continues to work with health authorities around the world in an effort to bring this new treatment option to patients living with multiple myeloma.Access to DARZALEX FASPRO (daratumumab and hyaluronidase-fihj)Janssen offers comprehensive access and support information, resources and services to assist U.S. patients in gaining access to DARZALEX FASPROthrough the Janssen CarePath Program. Through the program, eligible commercial patients pay no more than $5 per injection, regardless of individual income level. Information on the enrollment process is available online atwww.CarePathSavingsProgram.com/DARZALEX.For more information, healthcare providers or patients can contact: 1-844-55DARZA (1-844-553-2792). Information will also be available atwww.DARZALEX.com. Dedicated case coordinators are available to work with both healthcare providers and patients.About the COLUMBA Study 1The randomized, open-label, multicenter Phase 3 COLUMBA study (MMY3012) included 522 patients (median age of 67 years) with multiple myeloma who had received at least three prior lines of therapy including a proteasome inhibitor (PI) and an immunomodulatory drug (IMiD), or whose disease was refractory to both a PI and an IMiD. In the arm that received DARZALEX FASPRO(n=263), patients received a fixed dose of DARZALEX FASPRO1,800 milligrams (mg), co-formulated with recombinant human hyaluronidase PH20 (rHuPH20) 2,000 Units per milliliter (U/mL), subcutaneously weekly for Cycles 1 2, every two weeks for Cycles 3 6 and every four weeks for Cycle 7 and thereafter. In the intravenous DARZALEXarm (n=259), patients received DARZALEXfor intravenous infusion 16 milligrams per kilogram (mg/kg) weekly for Cycles 1 2, every two weeks for Cycles 3 6 and every four weeks for Cycle 7 and thereafter. Each cycle was 28 days. In the arm that received DARZALEX FASPRO, itwas given in a fixed volume of 15 mL over three to five minutes; the median injection time was five minutes. In the arm that received theintravenous administration, the median durations of the first, second and subsequent intravenous DARZALEXinfusions were 7.0, 4.3 and 3.4 hours, respectively.Patients in both arms continued treatment until disease progression or unacceptable toxicity.About the PLEIADES Study 2The non-randomized, open-label, parallel assignment Phase 2 PLEIADES study (MMY2040) included more than 240 adults with multiple myeloma, including 67 patients with newly diagnosed multiple myeloma who were treated with 1,800 mg of DARZALEX FASPROin combination with bortezomib, melphalan, and prednisone (D-VMP) and 65 patients with relapsed or refractory disease who were treated with 1,800 mg of DARZALEX FASPROplus lenalidomide and dexamethasone (D-Rd). The primary endpoint for the D-VMP and D-Rd cohorts was overall response rate.About DARZALEXand DARZALEX FASPROJanssen is committed to exploring the potential of DARZALEX (daratumumab) for patients with multiple myeloma across the spectrum of the disease. DARZALEX has been approved in seven indications, three of which are in the frontline setting, including newly diagnosed patients who are transplant eligible and ineligible.DARZALEX has become a backbone therapy in the treatment of multiple myeloma, having been used in the treatment of more than 58,000 patients in the U.S. alone since its U.S. FDA approval in 2015. DARZALEX is the first CD38-directed antibody approved globally to treat multiple myeloma and in 2020, DARZALEX FASPRO(daratumumab and hyaluronidase human-fihj) follows as the only subcutaneous CD38-directed antibody approved to treat patients with multiple myeloma.2CD38 is a surface protein that is present in high numbers on multiple myeloma cells, regardless of the stage of disease.4 DARZALEX binds to CD38 and inhibits tumor cell growth causing myeloma cell death.5 DARZALEX may also have an effect on normal cells.3 Data across seven Phase 3 clinical trials, in both the frontline and relapsed settings, have shown that DARZALEX-based regimens resulted in significant improvement in progression-free survival and/or overall survival. 4,5,6,7,8,9,10,11 Additional studies are underway to assess the efficacy and safety of DARZALEXFASPRO in the treatment of other malignant and pre-malignant hematologic diseases in which CD38 is expressed, including smoldering myeloma and in amyloidosis.12,13Key DARZALEX Milestones: In August 2012, Janssen entered into an exclusive global license and development agreement with Genmab A/S to develop, manufacture, and commercialize DARZALEX.14 In November 2015 DARZALEX received initial U.S. FDA approval as a monotherapy for the treatment of patients with multiple myeloma who have received at least three prior lines of therapy, including a proteasome inhibitor (PI) and an immunomodulatory agent, or who are double refractory to a PI and an immunomodulatory agent.15 In November 2016 DARZALEX received an additional approval in combination with lenalidomide and dexamethasone, or bortezomib and dexamethasone, for the treatment of patients with multiple myeloma who have received at least one prior therapy.16 In June 2017, DARZALEX received approval in combination with pomalidomide and dexamethasone for the treatment of patients with multiple myeloma who have received at least two prior therapies, including lenalidomide and a PI.17 In May 2018, DARZALEX received approval in combination with bortezomib, melphalan, and prednisone for the treatment of patients with newly diagnosed multiple myeloma who are ineligible for ASCT, making it the first monoclonal antibody approved for newly diagnosed patients with this disease.18 In June 2019, DARZALEX received approval in combination with lenalidomide and dexamethasone for the treatment of patients with newly diagnosed multiple myeloma who are transplant ineligible.19 In September 2019, DARZALEX received approval in combination with bortezomib, thalidomide, and dexamethasone for the treatment of newly diagnosed patients who are eligible for autologous stem cell transplant.20 In April 2020, DARZALEX FASPRO, a subcutaneous formulation of DARZALEX, received approval for the treatment of certain patients with newly diagnosed or relapsed/refractory multiple myeloma, including in combination with bortezomib, melphalan and prednisone in newly diagnosed patients who are ineligible for autologous stem cell transplant, in combination with lenalidomide and dexamethasone in newly diagnosed patients who are ineligible for autologous stem cell transplant and in patients with relapsed or refractory multiple myeloma who have received at least one prior therapy, in combination with bortezomib and dexamethasone in patients who have received at least one prior therapy, as monotherapy, in patients who have received at least three prior lines of therapy including a PI and an immunomodulatory agent or who are double-refractory to a PI and an immunomodulatory agent. Please see full Prescribing Information at www.DARZALEX.com. About Multiple MyelomaMultiple myeloma is an incurable blood cancer that affects a type of white blood cell called plasma cells, which are found in the bone marrow.21,22When damaged, these plasma cells rapidly spread and replace normal cells with tumors in the bone marrow. In 2020, it is estimated that 32,270 people will be diagnosed and 12,830 will die from the disease in the U.S.24 While some patients with multiple myeloma have no symptoms, most patients are diagnosed due to symptoms, which can include bone fracture or pain, low red blood cell counts, tiredness, high calcium levels, kidney problems or infections.23DARZALEX FASPROIMPORTANT SAFETY INFORMATION CONTRAINDICATIONSDARZALEX FASPRO is contraindicated in patients with a history of severe hypersensitivity to daratumumab, hyaluronidase or any of the components of the formulation.WARNINGS AND PRECAUTIONSHypersensitivity And Other Administration ReactionsBoth systemic administration-related reactions, including severe or life-threatening reactions, and local injection-site reactions can occur with DARZALEX FASPRO.Systemic ReactionsIn a pooled safety population of 490patients who received DARZALEX FASPROas monotherapy or in combination, 11% of patients experienced a systemic administration-related reaction (Grade 2: 3.9%, Grade 3: 1.4%). Systemic administration-related reactions occurred in 10% of patients with the first injection, 0.2% with the second injection, and cumulatively 0.8% with subsequent injections. The median time to onset was 3.7hours (range: 9minutes to 3.5days). Of the 84systemic administration-related reactions that occurred in 52patients, 73(87%) occurred on the day of DARZALEX FASPRO administration. Delayed systemic administration-related reactions have occurred in less than 1% of the patients.Severe reactions included hypoxia, dyspnea, hypertension and tachycardia. Other signs and symptoms of systemic administration-related reactions may include respiratory symptoms, such as bronchospasm, nasal congestion, cough, throat irritation, allergic rhinitis, and wheezing, as well as anaphylactic reaction, pyrexia, chest pain, pruritis, chills, vomiting, nausea, and hypotension.Pre-medicate patients with histamine-1 receptor antagonist, acetaminophen and corticosteroids. Monitor patients for systemic administration-related reactions, especially following the first and second injections. For anaphylactic reaction or life-threatening (Grade 4) administration-related reactions, immediately and permanently discontinue DARZALEX FASPRO. Consider administering corticosteroids and other medications after the administration of DARZALEX FASPRO depending on dosing regimen and medical history to minimize the risk of delayed (defined as occurring the day after administration) systemic administration-related reactions.Local ReactionsIn this pooled safety population, injection-site reactions occurred in 8% of patients, including Grade2 reactions in 0.6%. The most frequent (>1%) injection-site reaction was injection site erythema. These local reactions occurred a median of 7minutes (range: 0minutes to 4.7days) after starting administration of DARZALEX FASPRO. Monitor for local reactions and consider symptomatic management.NeutropeniaDaratumumab may increase neutropenia induced by background therapy. Monitor complete blood cell counts periodically during treatment according to manufacturer's prescribing information for background therapies. Monitor patients with neutropenia for signs of infection. Consider withholding DARZALEX FASPRO until recovery of neutrophils. In lower body weight patients receiving DARZALEX FASPRO, higher rates of Grade 3-4 neutropenia were observed.ThrombocytopeniaDaratumumab may increase thrombocytopenia induced by background therapy. Monitor complete blood cell counts periodically during treatment according to manufacturer's prescribing information for background therapies. Consider withholding DARZALEX FASPRO until recovery of platelets.Embryo-Fetal ToxicityBased on the mechanism of action, DARZALEX FASPRO can cause fetal harm when administered to a pregnant woman. DARZALEX FASPRO may cause depletion of fetal immune cells and decreased bone density. Advise pregnant women of the potential risk to a fetus. Advise females with reproductive potential to use effective contraception during treatment with DARZALEX FASPRO and for 3months after the last dose.The combination of DARZALEX FASPRO with lenalidomide is contraindicated in pregnant women, because lenalidomide may cause birth defects and death of the unborn child. Refer to the lenalidomide prescribing information on use during pregnancy.Interference with Serological TestingDaratumumab binds to CD38 on red blood cells (RBCs) and results in a positive Indirect Antiglobulin Test (Indirect Coombs test). Daratumumab-mediated positive indirect antiglobulin test may persist for up to 6months after the last daratumumab administration. Daratumumab bound to RBCs masks detection of antibodies to minor antigens in the patient's serum. The determination of a patient's ABO and Rh blood type are not impacted.Notify blood transfusion centers of this interference with serological testing and inform blood banks that a patient has received DARZALEX FASPRO. Type and screen patients prior to starting DARZALEX FASPRO.Interference with Determination of Complete ResponseDaratumumab is a human IgG kappa monoclonal antibody that can be detected on both the serum protein electrophoresis (SPE) and immunofixation (IFE) assays used for the clinical monitoring of endogenous M-protein. This interference can impact the determination of complete response and of disease progression in some DARZALEX FASPRO -treated patients with IgG kappa myeloma protein.Adverse ReactionsThe most common adverse reaction (20%) with DARZALEX FASPRO monotherapy is: upper respiratory tracts infection. The most common adverse reactions (20%) with D-VMP are upper respiratory tract infection, constipation, nausea, fatigue, pyrexia, peripheral sensory neuropathy, diarrhea, cough, insomnia, vomiting, and back pain. The most common adverse reactions (20%) with D-Rd are fatigue, diarrhea, upper respiratory tract infection, muscle spasms, constipation, pyrexia, pneumonia and dyspnea. The most common hematology laboratory abnormalities (40%) with DARZALEX FASPRO are decreased leukocytes, decreased lymphocytes, decreased neutrophils, decreased platelets, and decreased hemoglobin.Please see full Prescribing Information at www.DARZALEX.com. DARZALEX IMPORTANT SAFETY INFORMATIONCONTRAINDICATIONSDARZALEX (daratumumab) is contraindicated in patients with a history of severe hypersensitivity (e.g., anaphylactic reactions) to daratumumab or any of the components of the formulation.WARNINGS AND PRECAUTIONSInfusion Reactions DARZALEX can cause severe and/or serious infusion reactions, including anaphylactic reactions. In clinical trials, approximately half of all patients experienced an infusion reaction. Most infusion reactions occurred during the first infusion and were Grade 1-2. Infusion reactions can also occur with subsequent infusions. Nearly all reactions occurred during infusion or within 4 hours of completing DARZALEX.Prior to the introduction of post-infusion medication in clinical trials, infusion reactions occurred up to 48 hours after infusion. Severe reactions have occurred, including bronchospasm, hypoxia, dyspnea, hypertension, laryngeal edema, and pulmonary edema. Signs and symptoms may include respiratory symptoms, such as nasal congestion, cough, throat irritation, as well as chills, vomiting, and nausea. Less common symptoms were wheezing, allergic rhinitis, pyrexia, chest discomfort, pruritus, and hypotension.Pre-medicate patients with antihistamines, antipyretics, and corticosteroids. Frequently monitor patients during the entire infusion. Interrupt infusion for reactions of any severity and institute medical management as needed. Permanently discontinue therapy if an anaphylactic reaction or life-threatening (Grade 4) reaction occurs and institute appropriate emergency care.For patients with Grade 1, 2, or 3reactions, reduce the infusion rate when re-starting the infusion.To reduce the risk of delayed infusion reactions, administer oral corticosteroids to all patients following DARZALEX infusions. Patients with a history of chronic obstructive pulmonary disease may require additional post-infusion medications to manage respiratory complications. Consider prescribing short- and long-acting bronchodilators and inhaled corticosteroids for patients with chronic obstructive pulmonary disease.Interference with Serological Testing Daratumumab binds to CD38 on red blood cells (RBCs) and results in a positive Indirect Antiglobulin Test (Indirect Coombs test). Daratumumab-mediated positive indirect antiglobulin test may persist for up to 6 months after the last daratumumab infusion. Daratumumab bound to RBCs masks detection of antibodies to minor antigens in the patient's serum. The determination of a patient's ABO and Rh blood type are not impacted. Notify blood transfusion centers of this interference with serological testing and inform blood banks that a patient has received DARZALEX. Type and screen patients prior to starting DARZALEX.Neutropenia and Thrombocytopenia DARZALEX may increase neutropenia and/or thrombocytopenia induced by background therapy. Monitor complete blood cell counts periodically during treatment according to the manufacturer's prescribing information for background therapies. Monitor patients with neutropenia for signs of infection.DARZALEX dose delay may be required to allow recovery of neutrophils and/or platelets. No dose reduction of DARZALEX is recommended. Consider supportive care with growth factors for neutropenia or transfusions for thrombocytopenia.Interference with Determination of Complete Response Daratumumab is a human IgG kappa monoclonal antibody that can be detected on both the serum protein electrophoresis (SPE) and immunofixation (IFE) assays used for the clinical monitoring of endogenous M-protein. This interference can impact the determination of complete response and of disease progression in some patients with IgG kappa myeloma protein.Adverse Reactions The most frequently reported adverse reactions (incidence 20%) were: infusion reactions, neutropenia, thrombocytopenia, fatigue, asthenia, nausea, diarrhea, constipation, decreased appetite, vomiting, muscle spasms, arthralgia, back pain, pyrexia, chills, dizziness, insomnia, cough, dyspnea, peripheral edema, peripheral sensory neuropathy, bronchitis, pneumonia, and upper respiratory tract infection.DARZALEX in combination with lenalidomide and dexamethasone (DRd): The most frequent (20%) adverse reactions for newly diagnosed or relapsed/refractory patients were, respectively, infusion reactions (41%, 48%), diarrhea (57%, 43%), nausea (32%, 24%), fatigue (40%, 35%), pyrexia (23%, 20%), upper respiratory tract infection (52%, 65%), muscle spasms (29%, 26%), dyspnea (32%, 21%), and cough (30%, 30%). In newly diagnosed patients, constipation (41%), peripheral edema (41%), back pain (34%), asthenia (32%), bronchitis (29%), pneumonia (26%), peripheral sensory neuropathy (24%), and decreased appetite (22%) were also reported. In newly diagnosed patients, serious adverse reactions (2% compared to Rd)were pneumonia (15%), bronchitis (4%), and dehydration (2%), and treatment-emergent Grade 3-4 hematology laboratory abnormalities (20%) were neutropenia (56%), lymphopenia (52%), and leukopenia (35%). In relapsed/refractory patients, serious adverse reactions (2% compared to Rd)were pneumonia (12%), upper respiratory tract infection (7%), influenza (3%), and pyrexia (3%), and treatment-emergent Grade 3-4 hematology laboratory abnormalities (20%) were neutropenia (53%) and lymphopenia (52%). DARZALEXin combination with bortezomib, melphalan, and prednisone (DVMP): The most frequently reported adverse reactions (20%) were upper respiratory tract infection (48%), infusion reactions (28%), and peripheral edema (21%). Serious adverse reactions (2% compared to the VMP arm) were pneumonia (11%), upper respiratory tract infection (5%), and pulmonary edema (2%). Treatment-emergent Grade 3-4 hematology laboratory abnormalities (20%) were lymphopenia (58%), neutropenia (44%), and thrombocytopenia (38%).DARZALEX in combination with bortezomib and dexamethasone (DVd): Themost frequently reported adverse reactions (20%) were peripheral sensory neuropathy (47%), infusion reactions (45%), upper respiratory tract infection (44%), diarrhea (32%), cough (27%), peripheral edema (22%), and dyspnea (21%). The overall incidence of serious adverse reactions was 42%. Serious adverse reactions (2% compared to Vd) were upper respiratory tract infection (5%), diarrhea (2%), and atrial fibrillation (2%). Treatment-emergent Grade 3-4 hematology laboratory abnormalities (20%) were lymphopenia (48%) and thrombocytopenia (47%).DARZALEX in combination with bortezomib, thalidomide, and dexamethasone (DVTd): The most frequent adverse reactions (20%) were infusion reactions (35%), nausea (30%), upper respiratory tract infection (27%), pyrexia (26%), and bronchitis (20%). Serious adverse reactions (2% compared to the VTd arm) were bronchitis (DVTd 2% vs. VTd <1%)and pneumonia (DVTd 6% vs. VTd 4%). Treatment-emergent Grade 3-4 hematology laboratory abnormalities (20%) were lymphopenia (59%), neutropenia (33%), and leukopenia (24%).DARZALEX in combination with pomalidomide and dexamethasone (DPd): Themost frequent adverse reactions (>20%) were fatigue (50%), infusion reactions (50%), upper respiratory tract infection (50%), cough (43%), diarrhea (38%), constipation (33%), dyspnea (33%), nausea (30%), muscle spasms (26%), back pain (25%), pyrexia (25%), insomnia (23%), arthralgia (22%), dizziness (21%), and vomiting (21%). The overall incidence of serious adverse reactions was 49%. Serious adverse reactions reported in 5% of patients included pneumonia (7%).Treatment-emergent Grade 3-4 hematologylaboratory abnormalities (20%) were neutropenia (82%), lymphopenia (71%), and anemia (30%). DARZALEX as monotherapy: Themost frequently reported adverse reactions (20%) were infusion reactions (48%), fatigue (39%), nausea (27%), back pain (23%), pyrexia (21%), cough (21%), and upper respiratory tract infection (20%). The overall incidence of serious adverse reactions was 33%. The most frequent serious adverse reactions were pneumonia (6%), general physical health deterioration (3%), and pyrexia (3%). Treatment-emergent Grade 3-4 hematology laboratory abnormalities (20%) were lymphopenia (40%) and neutropenia (20%).Please see full Prescribing Information at www.DARZALEX.com. About the Janssen Pharmaceutical Companies of Johnson & Johnson At Janssen, we're creating a future where disease is a thing of the past. We're the Pharmaceutical Companies of Johnson & Johnson, working tirelessly to make that future a reality for patients everywhere by fighting sickness with science, improving access with ingenuity, and healing hopelessness with heart. We focus on areas of medicine where we can make the biggest difference: Cardiovascular & Metabolism, Immunology, Infectious Diseases & Vaccines, Neuroscience, Oncology, and Pulmonary Hypertension.Learn more at www.janssen.com. Follow us at www.twitter.com/JanssenGlobal. Janssen Research & Development, LLC and Janssen Biotech, Inc. are part of the Janssen Pharmaceutical Companies of Johnson & Johnson.Cautions Concerning Forward-Looking StatementsThis press release contains \"forward-looking statements\" as defined in the Private Securities Litigation Reform Act of 1995 regarding DARZALEX FASPRO. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Janssen Biotech, Inc. and/or Johnson & Johnson. Risks and uncertainties include, but are not limited to: challenges and uncertainties inherent in product research and development, including the uncertainty of clinical success and of obtaining regulatory approvals; uncertainty of commercial success; manufacturing difficulties and delays; competition, including technological advances, new products and patents attained by competitors; challenges to patents; product efficacy or safety concerns resulting in product recalls or regulatory action; changes in behavior and spending patterns of purchasers of health care products and services; changes to applicable laws and regulations, including global health care reforms; and trends toward health care cost containment. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended December 29, 2019, including in the sections captioned \"Cautionary Note Regarding Forward-Looking Statements\" and \"Item 1A. Risk Factors,\" and in the company's most recently filed Quarterly Report on Form 10-Q, and the company's subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.comor on request from Johnson & Johnson. None of the Janssen Pharmaceutical Companies nor Johnson & Johnson undertakes to update any forward-looking statement as a result of new information or future events or developments.ENHANZEis a registered trademark of Halozyme. 1Mateos M-V et al. Efficacy and Safety of the Randomized, Open-Label, Non-inferiority, Phase 3 Study of Subcutaneous (SC) Versus Intravenous (IV) Daratumumab (DARA) Administration in Patients (pts) With Relapsed or Refractory Multiple Myeloma (RRMM): COLUMBA. 2019 American Society of Clinical Oncology Annual Meeting. June 2019.2Janssen Research & Development, LLC. A Study to Evaluate Subcutaneous Daratumumab in Combination With Standard Multiple Myeloma Treatment Regimens. In: ClinicalTrials.gov [Internet]. Bethesda (MD): National Library of Medicine (US). 2000 [cited July 5, 2019]. Available at: https://clinicaltrials.gov/ct2/show/NCT03412565. Identifier: NCT03412565.32020Fedele G et al. CD38 Ligation in Peripheral Blood Mononuclear Cells of Myeloma Patients Induces Release of Protumorigenic IL-6 and Impaired Secretion of IFN Cytokines and Proliferation. Mediators Inflamm. 2013;564687.4Janssen Research & Development, LLC. A Study Comparing Daratumumab, Lenalidomide, and Dexamethasone With Lenalidomide and Dexamethasone in Relapsed or Refractory Multiple Myeloma. In: ClinicalTrials.gov [Internet]. Bethesda (MD): National Library of Medicine (US). 2000-[cited 2018 July 24]. Available at: https://clinicaltrials.gov/ct2/show/NCT02076009?term=mmy3003&rank=1 Identifier: NCT02136134 .5Janssen Research & Development, LLC. Addition of Daratumumab to Combination of Bortezomib and Dexamethasone in Participants With Relapsed or Refractory Multiple Myeloma. In: ClinicalTrials.gov [Internet]. Bethesda (MD): National Library of Medicine (US). 2000-[cited 2018 July 24]. Available at: https://clinicaltrials.gov/ct2/show/NCT02136134?term=mmy3004&rank=1 Identifier: NCT02076009.6Janssen Research & Development, LLC. A Study to Evaluate Daratumumab in Transplant Eligible Participants With Previously Untreated Multiple Myeloma (Cassiopeia). In: ClinicalTrials.gov [Internet]. Bethesda (MD): National Library of Medicine (US). 2000-[cited 2018 July 24]. Available at: https://clinicaltrials.gov/ct2/show/NCT02541383?term=mmy3006 Identifier: NCT02541383.7Janssen Research & Development, LLC. A Study of Combination of Daratumumab and Velcade (Bortezomib) Melphalan-Prednisone (DVMP) Compared to Velcade Melphalan-Prednisone (VMP) in Participants With Previously Untreated Multiple Myeloma In: ClinicalTrials.gov [Internet]. Bethesda (MD): National Library of Medicine (US). 2000-[cited 2018 July 24]. Available at: https://clinicaltrials.gov/ct2/show/NCT02195479?term=mmy3007&rank=1 Identifier: NCT02195479.8Janssen Research & Development, LLC. Study Comparing Daratumumab, Lenalidomide, and Dexamethasone With Lenalidomide and Dexamethasone in Participants With Previously Untreated Multiple Myeloma. In: ClinicalTri
Chinese News:
本周，美股迎来财报季“关键周”。就在大部分行业因“大封锁”叫苦不迭之际，医药股则成为疫情中显著的赢家。继上周的强生、罗氏之后，辉瑞和诺华也于当地时间4月28日发布一季度财报。根据各公司财报显示，第一季度“药企四巨头”业绩表现呈增长趋势，而追踪参与参与新冠研发企业股价的新冠病毒检测治疗指数（Covid-19 Testing&Treatment Index，简称Covid-19 Index），更实在今年上涨了80%，完胜标普500指数大盘。Covid-19 Index目前由29家公司制药公司和生物技术公司组成，这些公司均正在参与测试和治疗新冠病毒，其中包括吉利德科学、Biogen、强生、罗氏、安进、赛诺菲、雅培、Moderna等。按市值计算，其最大的组成部分是强生、罗氏、辉瑞和诺华。截至当地时间4月27日，Covid-19 Index在2020年已经超涨80%。不过，“四巨头”股价在2020年的表现喜忧参半。2020年至今，强生股价已累计上涨3.78%，罗氏股价已累计上涨15.63%，诺华股价已累计下跌4.68%，辉瑞股价已累计下跌3.24%。创新药物销售额逆势增长 作为2019年Fierce Pharma收入前20名的制药企业排行榜的前四强，强生、罗氏、辉瑞和诺华在第一季度的表现备受关注。上周，强生和罗氏率先公布2020财年第一季度财报。强生第一季度销售额为206.91亿美元，去年同期为200.21亿美元，同比增长3.3%；未经调整的净利润为57.96亿美元，同比增长54.6%。按业务来看，第一季度制药部门销售额增长8.7%至111.3亿美元，消费者健康部门销售额增长9.2%至36.25亿美元，而医疗器械部门销售额下降8.2%至59.32亿美元。强生在其财报中指出，用于治疗多发性骨髓瘤的Darzalex销售额同比增长49%，成为强生肿瘤药头牌；用于慢性淋巴细胞白血病(CLL)的Imbruvica同比增长31.6%。这两款药物的强劲表现令肿瘤药业务增幅为19.7%，是该集团表现最亮眼的部门。罗氏第一季度销售额增长7%，达151.43亿瑞士法郎（约155亿美元） 。在免疫疗法Tecentriq、血友病药物Hemlibra、多发性硬化症药物Ocrevus和乳腺癌药物Perjeta四大新药的推动下，罗氏制药销售额增长7%，达122.62亿瑞士法郎 (约125亿美元)。罗氏诊断产品销售额增长5%，达28.82亿瑞士法郎（约29亿美元），分子检测是该业务的主要贡献者。当地时间4月28日，诺华和辉瑞公布第一季度财报。诺华第一季度净销售额为122.83亿美元，同比增长11%；净利润为21.73亿美元，同比增长22%；每股收益为0.96美元，同比增长16%。其创新药物部（Innovative Medicines）的增长主要来自同比增长62%的心衰药物Entresto、同比增长82%的乳腺癌药物Kisqali以及同比增长19%的类风湿关节炎治疗药物Cosentyx。此外，诺华指出，其仿制药业务（Sandoz）的增长主要源于新冠病毒相关药物的长期采购影响，至少为其带来4亿美元的额外收入。辉瑞第一季度营收为120.28亿美元，同比下降8%；如果除去消费者健康业务，同比下降1%；净利润为34.01亿美元，同比下降12%。辉瑞第一季度调整后每股收益为0.80美元，同比下降5%。对于辉瑞来说，最大的挑战来自普强（Upjohn）。受专利到期后，仿制药带来的持续冲击，第一季度Upjohn营收为20.22亿美元，同比下降37%。不过，其创新药物（BioPharma）营收为100.07亿美元，同比增长11%，主要受抗凝药物Eliquis和乳腺癌新药Ibrance的推动。辉瑞是“四巨头”之中唯一一个净利润出现下降的公司。对此，辉瑞CEO Albert Bourla表示，“尽管受到疫情影响，公司业绩下滑。但在2022年之前，大约有25-30个产品获批，其中15个有望成为重磅产品。辉瑞新的架构在过渡以后，预计将会得到更高、更持久的营收增长。”抗病毒各显神通 尽管欧美各国的疫情有放缓的趋势，但是美国新冠肺炎确诊病例已超过100万人。美国国家过敏和传染病研究所所长福奇(Anthony Fauci)也于4月28日警告称，如果没有找到有效的治疗新冠病毒的方法，美国可能将迎来一个“糟糕的秋天”。他强调，新冠病毒“不会从地球上消失”。这一观点令投资者恐慌加剧，将希望寄托于医药企业，希望他们尽早研发出抑制病毒的疗法。强生在第一季度财报中披露了新冠病毒疫苗的进展。强生预计6月份之前完成生产前准备工作，9月份启动首次人体临床研究，12月份获得初步临床数据，2021年第一季度可获得第一个批次的疫苗，并能够满足紧急授权使用。强生承诺将向全球范围提供10亿剂疫苗。强生首席执行官Alex Gorsky表示，“我们正在利用我们的科学专业知识、操作规模和资金实力，努力推进我们的新冠病毒候选疫苗的研究工作。我们承诺立即在有风险的情况下开始生产，并在不盈利的基础上向公众提供可负担得起的和可获得的疫苗，以应付此次紧急卫生事件。”辉瑞也透露，该公司和德国生物科技公司BioNTech联合开发的BNT162新冠肺炎疫苗已经获德国疫苗和生物医学联邦研究所Paul Ehrlich Institute监管批准，有望在本月底进入人体试验阶段，预期在年内能生产“数百万支”疫苗。Bourla表示，“我们的研究人员和科学家也一直在探索辉瑞现有药物的潜在新用途，以帮助受感染的患者。我们的目标是不遗余力地探索每一种选择，为社会提供治疗或疫苗。”虽然没有研发疫苗，罗氏在其财报中指出，该公司已推出Cobas新冠病毒检测诊断系统。据悉，Cobas新冠肺炎病毒诊断系统能让医院和实验室进行大规模的病毒检测，使用该诊断系统能在3.5小时之后获得诊断结果。目前该诊断系统已经获得FDA紧急许可，也已经能在全球所有认可欧盟标准的市场获得许可，预计将在5月初获批上市，而其月产量有望在6月前达到千万份（high double-digit million）。此外，罗氏正在针对托珠单抗治疗新冠病毒在多国开展III期临床试验，有望在初夏得到试验结果，同时托珠单抗增产也在进行中。Federated Hermes投资组合经理Steve Chiavarone表示，“目前有70多种疫苗正在研发中，因此，无论哪一家公司最先成功，都有可能从中受益。更广泛地说，这与疫苗无关，更重要的是我们将如何走出这场危机。”全年展望弱化新冠影响 尽管新冠疫情的前景充满不确定性，但是他们仍然确认了2020年全年预期。罗氏认为，新冠病毒大流行对部分市场的影响波动对第一季度的经营业绩影响有限，全球药品和检测产品供应链仍完好无损。根据目前对新冠病毒影响的评估，确定了2020年公司前景，在固定汇率下，销售额将在中、低个位数的范围内增长；核心每股收益的增长目标将与销售额大致一致。辉瑞则重申其全年调整后每股收益2.82美元至2.92美元，营收将在485美元至505亿美元。不过，辉瑞也在财报中指出，为了应对新冠病毒大流行，辉瑞多项正在进行和新的临床试验注册受阻。此外，拟议的Mylan和Upjohn合并交易也未能如期完成，将延期至2020年下半年结束。令人意外的是，业绩表现抢眼的强生下调了其全年展望。强生预计，受新冠肺炎疫情影响，公司2020年营收将为775亿美元至805亿美元，同比下滑2.0%至5.5%；该公司此前预计2020年营收将为854亿美元至862亿美元，同比增长4.0%至5.0%。调整后的每股收益为7.50美元至7.90美元，同比下滑9%至13.6%；此前预计调整后的每股收益为8.95美元至9.10美元，同比增长3.1%至4.8%。诺华维持了原先的预期。诺华预计，其2020年净销售额将在中、高个位数的范围内增长，其中创新药物业务将在中、高个位数的范围内增长；仿制药业务将在低个位数范围内增长。诺华集团首席执行官万思瀚（Vas Narasimhan）表示，“+11%的爆发增长，让诺华在2020迎来了一个强劲的开局。我们继续向患者提供我们的药物，并推进我们的创新渠道，这反映在我们第一季度强劲的运营业绩上。虽然未来一年仍有许多不确定因素，但我们目前仍维持全年展望，并将继续发挥我们的作用，以克服流感大流行。”Chiavarone认为，在卫生保健领域，那些帮助大家渡过这次新冠病毒大流行的公司可能才是赢家。Chiavarone补充道，“我认为我们已经认识到的一件事是，我们的卫生保健系统没有为此做好准备。因此，我们预计未来将会发生的一件事情是建立关键医疗设备和关键抗病毒药物的战略储备。我们预计会有大量采购发生或在这些领域掀起一场购买狂潮。”
Japanese News:
米ジョンソン・エンド・ジョンソン（J&J）は、2020年第1四半期（1～3月期）の決算において増収増益となった。新型コロナウイルスの世界的な感染拡大を背景に、解熱鎮痛薬「タイレノール」など日用品やヘルスケア製品の需要が急激に伸びたことが主な要因。ただ一方では、感染対応を優先する医療現場で緊急性が低い手術が延期されたことで、医療機器の売上は落ち込んだ。こうした影響を考慮し、J&Jは2020年通期の業績予想を下方修正した。 第1四半期の業績は、前年同時期と比較して売上と利益がともに改善したほか、四半期配当の引き上げも発表された。特に家庭向けの日用品（シャンプーや鎮痛剤）の売上が大きく貢献した。これは各国で外出制限措置が導入され、消費者が生活必需品を買いだめしたことが影響したとみられる。 しかし、医療機器部門の業績は悪化した。各医療機関が新型コロナ感染症患者の治療を優先した結果、緊急性の低い外科手術を中止または延期したことが影響した。同社最大のセグメントである医薬品事業は比較的安定した需要を維持したが、患者が薬品を30日分から90日分へとまとめ買いする動きが見られたためとされている。 新型コロナの感染が米国内で本格的に深刻化したのは3月に入ってからだった。同社の第1四半期売上高は前年同期比で3.3％増の206億9000万ドル（約2兆2200億円）となった。また調整後の1株当たり利益は前年同期の2.10ドルから2.30ドルに増加した。 一方、2020年通期の売上高については、当初予測の858億～866億ドルから、792億～822億ドルへと下方修正した。
Spanish News:
La multinacional farmacéutica Johnson & Johnson informó este martes que anticipa una recuperación de su segmento de dispositivos médicos hacia finales del año, especialmente durante el último trimestre, cuando prevé que se retomen procedimientos médicos opcionales que han sufrido retrasos por la crisis del COVID-19. Como consecuencia directa del impacto de la pandemia en este negocio, que incluye implantes ortopédicos como los de cadera y rodilla, la compañía ajustó a la baja su previsión de beneficios para todo el año. Esta división representa aproximadamente un 30% del total de ventas trimestrales. Sin embargo, el mercado recibió positivamente el hecho de que Johnson & Johnson mantuviera una previsión ajustada para 2020, pese al difícil panorama global generado por la pandemia. Además, la empresa incrementó su dividendo trimestral a 1,01 dólares por acción, lo que impulsó sus títulos bursátiles casi un 5%, situándose en 146,89 dólares por acción. La empresa proyectó unas ganancias ajustadas para este año entre 7,50 y 7,90 dólares por acción, cifras inferiores a las estimaciones anteriores, que estaban entre 8,95 y 9,10 dólares. Estas nuevas previsiones se elaboraron bajo el supuesto de que una posible segunda ola del coronavirus en otoño tendría características y efectos diferentes a la crisis actual. El director financiero de Johnson & Johnson, Joseph Wolk, afirmó durante una conferencia telefónica que, en caso de que el virus resurja, los sistemas sanitarios estarían mejor preparados para realizar pruebas diagnósticas, detectar casos e implementar aislamientos oportunos. Asimismo, se mostró optimista sobre la disponibilidad de tratamientos efectivos para entonces. Según Wolk, es probable que los procedimientos médicos no esenciales y las consultas presenciales se reanuden en gran medida durante la segunda mitad del año. Esto implica que la división médica continuará experimentando efectos negativos en el corto plazo, aunque comenzaría a mostrar signos de estabilización a partir del tercer trimestre. Actualmente, diversas compañías farmacéuticas están intensificando esfuerzos para obtener tratamientos efectivos y vacunas contra el coronavirus, que hasta ahora ha infectado a cerca de 2 millones de personas en todo el mundo. En este contexto, Johnson & Johnson confirmó que está trabajando en una vacuna, cuyos primeros ensayos clínicos en humanos están previstos para septiembre, con la meta de conseguir una autorización provisional para principios del próximo año. El CEO de la compañía, Alex Gorsky, aseguró que la vacuna se está desarrollando con la intención expresa de no generar beneficios económicos en situaciones de emergencia global. En cuanto a los resultados trimestrales específicos, Johnson & Johnson —primer gran laboratorio estadounidense en publicar resultados tras la crisis sanitaria— reportó que sus ventas en la división de instrumental médico descendieron un 8,2%, situándose en 5.930 millones de dólares. Dentro de esta categoría, los productos para cirugía ortopédica y corrección visual, que suelen ofrecer márgenes elevados, fueron los más afectados. Por otro lado, el segmento farmacéutico mostró un crecimiento del 8,7%, alcanzando ventas por 11.130 millones de dólares, impulsado principalmente por una mayor demanda de fármacos oncológicos como Darzalex e Imbruvica. Finalmente, los productos de salud de consumo experimentaron un incremento en sus ventas del 9,2%, alcanzando los 3.630 millones de dólares. Este resultado estuvo respaldado por la fuerte demanda de medicamentos populares contra la fiebre y la tos, como Tylenol y Motrin, ante los síntomas típicos asociados al coronavirus.
Greek News:
Η Johnson & Johnson εξακολουθεί να βρίσκεται αντιμέτωπη με σημαντικές νομικές προκλήσεις στις ΗΠΑ, καθώς περισσότερες από 16.000 αγωγές έχουν κατατεθεί εναντίων της με κατηγορίες ότι το παιδικό ταλκ της εταιρείας περιέχει ίχνη αμιάντου και σχετίζεται με περιπτώσεις καρκίνου. Δικαστής στο New Jersey επέτρεψε την συνέχιση των δικών για τις αγωγές, με περιορισμούς ως προς τις καταθέσεις ειδικών μαρτύρων. Η εταιρία διαβεβαιώνει πως οι εξετάσεις που πραγματοποιήθηκαν από ανεξάρτητες εξετάσεις δεν εντόπισαν αμίαντο, παρόλα αυτά έχουν επιδικαστεί αποζημιώσεις, όπως τα $ 20 εκατομμύρια σε ενάγουσα στην California. Η εταιρεία, αναγνωρίζοντας τους ενδεχόμενους κινδύνους, σημειώνει πως, σύμφωνα με την αξιολόγηση των μέχρι στιγμής δεδομένων και σε συνεργασία με νομικούς της συμβούλους, δεν αναμένεται ουσιώδης αρνητική επίδραση από τις αγωγές στη συνολική χρηματοοικονομική της θέση. Όμως, η πιθανή επίλυση αυτών των δικαστικών εκκρεμοτήτων ή η πιθανή αύξηση μελλοντικών προβλέψεων ώστε παρόμοια συμβάντα να μην επαναληφθούν, ενδέχεται να επηρεάσει αρνητικά τα αποτελέσματα χρήσης και τις ταμειακές ροές σε μεμονωμένες περιόδους. Παρά τις προκλήσεις, σε λειτουργικό επίπεδο, η Johnson & Johnson κατέγραψε αύξηση πωλήσεων κατά 3,3% το πρώτο τρίμηνο του 2020, με τα συνολικά έσοδα να ανέρχονται στα $ 20,7 δισεκατομμύρια. Η λειτουργική ανάπτυξη άγγιξε το 4,8% συγκριτικά με την αντίστοιχη περίοδο του 2019. Η ανοδική δυναμική της εταιρίας επηρεάστηκε από τις αρνητικές συναλλαγματικές διακυμάνσεις και την πανδημία COVID-19.
Question:
What are the company's capital expenditures and their strategic significance from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | What are the company's capital expenditures and their strategic significance from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Johnson & Johnson’s capital expenditures in Q1 2020 totaled $625 million, reflecting ongoing investment in infrastructure and manufacturing.
Financial Statement Evidence:
Additions to property, plant and equipment: $625M |
JNJ_20200724 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 |
|:--------------------------------------------------------------------------------------------------------|:-----------|:--------------|:-----------|:------------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | |
| | | June 28, 2020 | | December 29, 2019 | | | | | | | | | | |
| ASSETS | | | | | | | | | | | | | | |
| Current assets: | | | | | | | | | | | | | | |
| Cash and cash equivalents | | $ | 11,174 | | | 17,305 | | | | | | | | |
| Marketable securities | | 7,961 | | | 1,982 | | | | | | | | | |
| Accounts receivable, trade, less allowances for doubtful accounts and credit losses $334 (2019, $226) | | 14,645 | | | 14,481 | | | | | | | | | |
| Inventories (Note 2) | | 9,424 | | | 9,020 | | | | | | | | | |
| Prepaid expenses and other | | 2,588 | | | 2,392 | | | | | | | | | |
| Assets held for sale (Note 10) | | 100 | | | 94 | | | | | | | | | |
| Total current assets | | 45,892 | | | 45,274 | | | | | | | | | |
| Property, plant and equipment at cost | | 44,056 | | | 43,332 | | | | | | | | | |
| Less: accumulated depreciation | | (26,458) | | | (25,674) | | | | | | | | | |
| Property, plant and equipment, net | | 17,598 | | | 17,658 | | | | | | | | | |
| Intangible assets, net (Note 3) | | 47,413 | | | 47,643 | | | | | | | | | |
| Goodwill (Note 3) | | 33,890 | | | 33,639 | | | | | | | | | |
| Deferred taxes on income (Note 5) | | 7,805 | | | 7,819 | | | | | | | | | |
| Other assets | | 5,782 | | | 5,695 | | | | | | | | | |
| Total assets | | $ | 158,380 | | | 157,728 | | | | | | | | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | | | | | | | | |
| Current liabilities: | | | | | | | | | | | | | | |
| Loans and notes payable | | $ | 5,332 | | | 1,202 | | | | | | | | |
| Accounts payable | | 6,765 | | | 8,544 | | | | | | | | | |
| Accrued liabilities | | 8,940 | | | 9,715 | | | | | | | | | |
| Accrued rebates, returns and promotions | | 11,790 | | | 10,883 | | | | | | | | | |
| Accrued compensation and employee related obligations | | 2,313 | | | 3,354 | | | | | | | | | |
| Accrued taxes on income (Note 5) | | 1,632 | | | 2,266 | | | | | | | | | |
| Total current liabilities | | 36,772 | | | 35,964 | | | | | | | | | |
| Long-term debt (Note 4) | | 25,062 | | | 26,494 | | | | | | | | | |
| Deferred taxes on income(Note 5) | | 5,532 | | | 5,958 | | | | | | | | | |
| Employee related obligations (Note 6) | | 10,411 | | | 10,663 | | | | | | | | | |
| Long-term taxes payable (Note 5) | | 6,591 | | | 7,444 | | | | | | | | | |
| Other liabilities | | 11,034 | | | 11,734 | | | | | | | | | |
| Total liabilities | | 95,402 | | | 98,257 | | | | | | | | | |
| Commitments and Contingencies (Note 11) | | | | | | | | | | | | | | |
| Shareholders’ equity: | | | | | | | | | | | | | | |
| Common stock — par value $1.00 per share (authorized 4,320,000,000 shares; issued 3,119,843,000 shares) | | $ | 3,120 | | | 3,120 | | | | | | | | |
| Accumulated other comprehensive income (loss) (Note 7) | | (15,533) | | | (15,891) | | | | | | | | | |
| Retained earnings | | 113,898 | | | 110,659 | | | | | | | | | |
| Less: common stock held in treasury, at cost (487,466,000 and 487,336,000 shares) | | 38,507 | | | 38,417 | | | | | | | | | |
| Total shareholders’ equity | | 62,978 | | | 59,471 | | | | | | | | | |
| Total liabilities and shareholders' equity | | $ | 158,380 | | | 157,728 | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 |
|:------------------------------------------------------------------------------------------|:-----------|:------------------------|:-----------|:-------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | |
| | | Fiscal Six Months Ended | | | | | | | | | | | | |
| | | June 28,2020 | | June 30,2019 | | | | | | | | | | |
| CASH FLOWS FROM OPERATING ACTIVITIES | | | | | | | | | | | | | | |
| Net earnings | | $ | 9,422 | | | 9,356 | | | | | | | | |
| Adjustments to reconcile net earnings to cash flows from operating activities: | | | | | | | | | | | | | | |
| Depreciation and amortization of property and intangibles | | 3,473 | | | 3,466 | | | | | | | | | |
| Stock based compensation | | 589 | | | 572 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Asset write-downs | | 33 | | | 989 | | | | | | | | | |
| Contingent consideration reversal | | (983) | | | — | | | | | | | | | |
| Net gain on sale of assets/businesses | | (60) | | | (2,079) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Deferred tax provision | | (428) | | | (694) | | | | | | | | | |
| Credit losses and accounts receivable allowances | | 117 | | | 1 | | | | | | | | | |
| Changes in assets and liabilities, net of effects from acquisitions and divestitures: | | | | | | | | | | | | | | |
| Increase in accounts receivable | | (520) | | | (336) | | | | | | | | | |
| Increase in inventories | | (637) | | | (423) | | | | | | | | | |
| Decrease in accounts payable and accrued liabilities | | (2,319) | | | (444) | | | | | | | | | |
| Increase in other current and non-current assets | | (1,048) | | | (862) | | | | | | | | | |
| Decrease in other current and non-current liabilities | | (829) | | | (55) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| NET CASH FLOWS FROM OPERATING ACTIVITIES | | 6,810 | | | 9,491 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM INVESTING ACTIVITIES | | | | | | | | | | | | | | |
| Additions to property, plant and equipment | | (1,287) | | | (1,493) | | | | | | | | | |
| Proceeds from the disposal of assets/businesses, net | | 87 | | | 3,018 | | | | | | | | | |
| Acquisitions, net of cash acquired | | (949) | | | (5,346) | | | | | | | | | |
| Purchases of investments | | (8,551) | | | (1,517) | | | | | | | | | |
| Sales of investments | | 2,417 | | | 2,132 | | | | | | | | | |
| Proceeds from credit support agreements, net | | 672 | | | — | | | | | | | | | |
| Other (primarily licenses and milestones) | | (492) | | | 1 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| NET CASH USED BY INVESTING ACTIVITIES | | (8,103) | | | (3,205) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM FINANCING ACTIVITIES | | | | | | | | | | | | | | |
| Dividends to shareholders | | (5,164) | | | (4,918) | | | | | | | | | |
| Repurchase of common stock | | (2,417) | | | (4,692) | | | | | | | | | |
| Proceeds from short-term debt | | 2,717 | | | 15 | | | | | | | | | |
| Repayment of short-term debt | | (17) | | | (12) | | | | | | | | | |
| Proceeds from long-term debt, net of issuance costs | | 1 | | | 1 | | | | | | | | | |
| Repayment of long-term debt | | (11) | | | (1,005) | | | | | | | | | |
| Proceeds from the exercise of stock options/employee withholding tax on stock awards, net | | 708 | | | 463 | | | | | | | | | |
| Other | | (489) | | | 98 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| NET CASH USED BY FINANCING ACTIVITIES | | (4,672) | | | (10,050) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Effect of exchange rate changes on cash and cash equivalents | | (166) | | | 33 | | | | | | | | | |
| Decrease in cash and cash equivalents | | (6,131) | | | (3,731) | | | | | | | | | |
| Cash and Cash equivalents, beginning of period | | 17,305 | | | 18,107 | | | | | | | | | |
| CASH AND CASH EQUIVALENTS, END OF PERIOD | | $ | 11,174 | | | 14,376 | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Acquisitions | | | | | | | | | | | | | | |
| Fair value of assets acquired | | $ | 1,173 | | | 6,744 | | | | | | | | |
| Fair value of liabilities assumed and noncontrolling interests | | (224) | | | (1,398) | | | | | | | | | |
| Net cash paid for acquisitions | | $ | 949 | | | 5,346 | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 | Column 22 | Column 23 | Column 24 | Column 25 | Column 26 | Column 27 |
|:-----------------------------------------------|:-----------|:----------------------------|:-----------|:----------------|:-----------|:-------------|:-----------|:----------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Fiscal Second Quarter Ended | | | | | | | | | | | | | | | | | | | | | | | | |
| | | June 28,2020 | | Percentto Sales | | June 30,2019 | | Percentto Sales | | | | | | | | | | | | | | | | | | |
| Sales to customers (Note 9) | | $ | 18,336 | | | 100.0 | % | | $ | 20,562 | | | 100.0 | % | | | | | | | | | | | | |
| Cost of products sold | | 6,579 | | | 35.9 | | | 6,940 | | | 33.8 | | | | | | | | | | | | | | | |
| Gross profit | | 11,757 | | | 64.1 | | | 13,622 | | | 66.2 | | | | | | | | | | | | | | | |
| Selling, marketing and administrative expenses | | 4,993 | | | 27.2 | | | 5,546 | | | 27.0 | | | | | | | | | | | | | | | |
| Research and development expense | | 2,707 | | | 14.8 | | | 2,666 | | | 13.0 | | | | | | | | | | | | | | | |
| In-process research and development | | 6 | | | 0.0 | | | — | | | — | | | | | | | | | | | | | | | |
| Interest income | | (19) | | | (0.1) | | | (88) | | | (0.4) | | | | | | | | | | | | | | | |
| Interest expense, net of portion capitalized | | 45 | | | 0.3 | | | 83 | | | 0.4 | | | | | | | | | | | | | | | |
| Other (income) expense, net | | 24 | | | 0.1 | | | (1,683) | | | (8.2) | | | | | | | | | | | | | | | |
| Restructuring (Note 12) | | 61 | | | 0.3 | | | 57 | | | 0.2 | | | | | | | | | | | | | | | |
| Earnings before provision for taxes on income | | 3,940 | | | 21.5 | | | 7,041 | | | 34.2 | | | | | | | | | | | | | | | |
| Provision for taxes on income (Note 5) | | 314 | | | 1.7 | | | 1,434 | | | 6.9 | | | | | | | | | | | | | | | |
| NET EARNINGS | | $ | 3,626 | | | 19.8 | % | | $ | 5,607 | | | 27.3 | % | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| NET EARNINGS PER SHARE (Note 8) | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | $ | 1.38 | | | | | $ | 2.11 | | | | | | | | | | | | | | | | | |
| Diluted | | $ | 1.36 | | | | | $ | 2.08 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| AVG. SHARES OUTSTANDING | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | 2,632.9 | | | | | 2,652.5 | | | | | | | | | | | | | | | | | | | |
| Diluted | | 2,665.5 | | | | | 2,691.7 | | | | | | | | | | | | | | | | | | | |
---
English News:
Ethicon*, part of the Johnson & Johnson Medical Devices Company**, announced the U.S. Food and Drug Administration (FDA) has granted Breakthrough Device Designation for transbronchial microwave ablation technology using robotic-assisted bronchoscopy, which is currently under development. The Breakthrough Devices Program is a voluntary program for certain medical devices that provide for more effective treatment or diagnosis of life-threatening or irreversibly debilitating diseases or conditions. The goal of the Breakthrough Devices Program is to provide patients and health care providers with timely access to these medical devices by speeding up their development, assessment, and review, while preserving the statutory standards for premarket approval, 510(k) clearance, and De Novo marketing authorization, consistent with the Agency's mission to protect and promote public health. \"Our acquisitions of NeuWave Medical and Auris Health have enabled us to bring two best-in-class platforms together as we work to develop this breakthrough technology,\" said Vladimir Makatsaria, Company Group Chairman of Ethicon, Johnson & Johnson. \"We look forward to working collaboratively with the FDA to help prioritize development and access for patients.\" Ethicon is a global leader in soft tissue microwave ablation and in flexible endoluminal robotics. The NEUWAVE Microwave Ablation System provides a minimally invasive option for soft tissue lesions, with more than 45,000 procedures performed to date. The MONARCH Platform provides improved reach into the periphery of the lung with continuous real-time vision, precision and control. MONARCH was the first robotic-assisted bronchoscopy system introduced in the United States with more than 3,300 procedures performed to date. \"Through our commitment to transform patients' lives, Johnson & Johnson is advancing innovative solutions with a focus on the prevention, interception and cure of some of the world's most complex, life-threatening diseases,\" saidAvrumSpira, M.D., M.Sc., Global Head of the Lung Cancer Initiative at Johnson & Johnson.*** \"This promising convergence oftechnologies offers an exciting opportunity to catalyze new approaches and solutions toimprove patient outcomes, andwelook forward to evaluating this device ina comprehensive clinicaldevelopment program.\" About EthiconEthicon, part of Johnson & Johnson Medical Devices Companies, has made significant contributions to surgery for more than 100 years from creating the first sutures, to revolutionizing surgery with minimally invasive procedures. Our continuing dedication to Shape the Future of Surgery is built on our commitment to help address the world's most pressing health care issues and improve and save more lives. Through Ethicon's surgical technologies and solutions including sutures, staplers, energy devices, trocars and hemostats and our commitment to treat serious medical conditions like obesity worldwide, we deliver innovation to make a life-changing impact. For more information, visitwww.ethicon.com. About Johnson & Johnson Medical Devices CompaniesAt Johnson & Johnson Medical Devices Companies, we are helping people live their best lives. Building on more than a century of expertise, we tackle pressing healthcare challenges, and take bold steps that lead to new standards of care while improving people's healthcare experiences. In surgery, orthopaedics, vision and interventional solutions, we are helping to save lives and paving the way to a healthier future for everyone, everywhere. *Ethicon represents the products and services of Ethicon, Inc., Ethicon Endo-Surgery, LLC and certain of their affiliates. All other trademarks are the property of their respective owners. **The Johnson & Johnson Medical Devices Companies comprise the surgery, orthopedics, vision and interventional solutions businesses within Johnson & Johnson's Medical Devices segment.*** The legal entity of the Lung Cancer Initiative at Johnson & Johnson is Johnson & Johnson Enterprise Innovation, Inc. Notice to Investors Concerning Forward-Looking Statements This press release contains \"forward-looking statements\" as defined in the Private Securities Litigation Reform Act of 1995 regarding NeuWave. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to: challenges and uncertainties inherent in product research and development, including the uncertainty of clinical success and of obtaining regulatory approvals; uncertainty of commercial success; manufacturing difficulties and delays; competition, including technological advances, new products and patents attained by competitors; challenges to patents; product efficacy or safety concerns resulting in product recalls or regulatory action; changes in behavior and spending patterns of purchasers of health care products and services; changes to applicable laws and regulations, including global health care reforms; and trends toward health care cost containment. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended December 29, 2019, including in the sections captioned \"Cautionary Note Regarding Forward-Looking Statements\" and \"Item 1A. Risk Factors,\" and in the company's most recently filed Quarterly Report on Form 10-Q, and the company's subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments. SOURCE Ethicon, Inc.
Chinese News:
强生日前发布的2020年半年财务报告显示：今年上半年其全球营收为390.27亿美元，同比下降3.8%，其中医疗器械业务营收102.2亿美元，同比下降21.1%。有强生高管表示，新冠肺炎疫情发生后，大家减少外出所以受伤几率变小，创伤性手术也因此大幅减少。半年报显示，强生医疗器械板块四大业务均下滑，其中介入解决方案业务营收13.17亿美元，同比下降11.2%；骨科业务营收34.89亿美元，同比下降21.2%；外科手术业务营收36.51亿美元，同比下降23.1%；视力保健业务营收17.62亿美元，同比下降23%。
Japanese News:
米ジョンソン・エンド・ジョンソン（J&J）と同業のアボット・ラボラトリーズは、新型コロナウイルス感染拡大が続く中でも、医療機器分野の最も厳しい時期は既に過ぎつつあるとの認識を示した。 両社が発表した4～6月期（第2四半期）の業績は、慎重だった市場の事前予測を上回った。J&Jは今年の通期調整後利益予想を引き上げ、一方のアボットは、3カ月前に一旦取り下げていた通期の業績見通しを改めて示した。感染拡大初期には医療機関で緊急性の低い手術の延期や中止が相次ぎ、医療機器の販売が大きく落ち込んだが、現在はこうした状況が徐々に改善してきているという。 エドワード・ジョーンズ証券のアナリストであるアシュティン・エバンス氏は、「新型コロナの影響は4～6月期にピークを迎えた可能性が高い」と指摘した。 特にアボットは、新型コロナの検査キットや関連製品をいち早く市場投入したことで業績が伸び、4～6月期には検査関連だけで6億1500万ドル（約660億円）の売上を記録した。全体の純売上高は73億3000万ドル、調整後1株当たり利益は継続事業ベースで57セントとなり、それぞれ市場予想を上回った。また、通年の調整後1株利益については、少なくとも3.25ドルに達するとの見通しを示した。同社幹部は、米政権と連携しながら、サプライチェーンを強化し、医薬品供給への関税の影響を最小限に抑えるべきだと強調した。 一方、J&Jは2025年通期の売上高予想を従来の909億～917億ドルから916億～924億ドルへと、約7億ドル引き上げた。この背景には、新たに統合失調症や双極性うつ病の治療薬「カプリタ」の販売開始や、抗うつ薬「スプラバト」の年間売上が2028年までに30億～35億ドルに達する見通しなどが影響している。 また、通期の調整後1株利益予想を10.50～10.70ドルと設定。これは市場予想平均の10.43ドル（LSEGのデータに基づく）を大きく上回る数値だ。 第1四半期の業績を見ると、売上高は前年同期比2.4％増の218億9000万ドルとなり、調整後の1株利益も2.77ドルを記録。いずれもアナリストの予想（売上高215億6000万ドル、1株利益2.59ドル）を超えた。 J&Jの医薬品部門は売上高が市場予想を超え堅調だったものの、医療機器部門の売上高は前年同期比で増加したにもかかわらず、市場予測に届かなかった。
Spanish News:
El grupo estadounidense de productos farmacéuticos Johnson & Johnson ganó US$9.422 millones durante el primer semestre de 2020, en plena pandemia por el covid-19, un 0,7 % más que en el mismo periodo del año anterior. La compañía informó que entre enero y junio, el conglomerado especializado en la venta de productos de belleza y farmacéuticos facturó US$39.027 millones, un 3,8% menos que en el mismo intervalo del año pasado. Entre abril y junio, Johnson & Johnson ganó US$3.626 millones, 35% menos que en el mismo periodo de 2019; mientras que las ventas cayeron 10,8% interanual, hasta US$18.336 millones. Los analistas achacan la bajada del beneficio netos en el último trimestre a los efectos colaterales del covid-19, que ha obligado a muchos hospitales a posponer cirugías y tratamientos, lo que ha afectado gravemente a sus líneas de negocio. J&J ha revelado hoy que están intentando llegar a un acuerdo con los Institutos Nacionales de Salud para que les permita adelantar la última fase del ensayo de la vacuna, que tenían planeado llevar a cabo en septiembre. Asimismo, la compañía dijo que espera comenzar pruebas preliminares con 1.000 personas la próxima semana. Por sectores de negocio, el principal siguen siendo los productos farmacéuticos, que aumentaron un 2,1 % sus ventas, hasta los US$10.752 millones. La unidad de consumidores de la compañía, que fabrica por ejemplo productos de higiene bucal, generó US$3.296 millones en ingresos, 7% menos que el año previo. En general, la disminución en las ventas de dispositivos médicos fue parcialmente compensada por mayores ventas de otros productos de venta libre como el Tylenol o Listerine. En una jornada que se prevé bajista, los datos no despertaron gran interés en los inversores y, diez minutos antes del arranque de la sesión bursátil, los títulos de Johnson & Johnson avanzaban 0,2% en Wall Street. En lo que va de año, la farmacéutica se ha revalorizado 1,64%.
Greek News:
Η Johnson & Johnson ανακοίνωσε την εξαγορά της Momenta Pharmaceuticals έναντι 6,5 δισεκατομμυρίων δολαρίων, μέσω προσφοράς εξαγοράς με μετρητά ύψους 52,50 δολαρίων ανά μετοχή. Η συμφωνία αυτή ενισχύει τη θέση της εταιρείας στον τομέα των αυτοάνοσων νοσημάτων, καθώς αποκτά πρόσβαση στο πειραματικό φάρμακο nipocalimab, το οποίο στοχεύει παθήσεις που σχετίζονται με την παρουσία αυτοαντισωμάτων. Παράλληλα, η εξαγορά επεκτείνει την παρουσία της J&J στο κέντρο καινοτομίας του Cambridge, Massachussets. Παράλληλα, η Ευρωπαϊκή Επιτροπή ανακοίνωσε την ολοκλήρωση προκαταρκτικών συνομιλιών με την Johnson & Johnson για την προμήθεια πιθανού εμβολίου για την αντιμετώπιση του COVID-19. Η συμφωνία αυτή προβλέπει την δυνατότητα αγοράς ή δωρεάς 200 εκατομμυρίων δόσεων από τα κράτη μέλη της ΕΕ με προοπτική για επιπλέον 200 εκατομμύρια. Η Κομισιόν συνεχίζει τις διαπραγματεύσεις και με άλλες φαρμακευτικές εταιρίας στο πλαίσιο της ευρωπαϊκής στρατηγικής για την αντιμετώπιση της πανδημίας. Αντίστοιχα, στις Ηνωμένες Πολιτείες, η κυβέρνηση έχει δεσμεύσει συνολικά τουλάχιστον $ 9,4 δισεκατομμύρια για την ανάπτυξη και προμήθεια εμβολίων, με την Johnson & Johnson να λαμβάνει χρηματοδότηση 1 δισεκατομμυρίου για την παραγωγή 100 εκατομμυρίων δόσεων. Η συμφωνία περιλαμβάνει και δυνατότητα επέκτασης για επιπλέον 200 εκατομμύρια δόσεις. Συνολικά, έχουν συναφθεί συμφωνίες με πέντε εταιρείες για περισσότερες από 700 εκατομμύρια δόσεις, υπό την προϋπόθεση της αποτελεσματικότητάς τους.
Question:
Please list the top three focuses on revenue from news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | Please list the top three focuses on revenue from news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | 1.Pharmaceutical
2. Consumer health segments
3. Medical Devices
Pharmaceuticals showed resilience with a 2.1% sales increase to $10.752B; consumer health generated $3.296B, down 7% YoY (Spanish news); and medical devices declined significantly, with segment revenue at $10.22B, down 21.1% YoY (Chinese news).
Financial Statement Evidence: None |
JNJ_20200724 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 |
|:--------------------------------------------------------------------------------------------------------|:-----------|:--------------|:-----------|:------------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | |
| | | June 28, 2020 | | December 29, 2019 | | | | | | | | | | |
| ASSETS | | | | | | | | | | | | | | |
| Current assets: | | | | | | | | | | | | | | |
| Cash and cash equivalents | | $ | 11,174 | | | 17,305 | | | | | | | | |
| Marketable securities | | 7,961 | | | 1,982 | | | | | | | | | |
| Accounts receivable, trade, less allowances for doubtful accounts and credit losses $334 (2019, $226) | | 14,645 | | | 14,481 | | | | | | | | | |
| Inventories (Note 2) | | 9,424 | | | 9,020 | | | | | | | | | |
| Prepaid expenses and other | | 2,588 | | | 2,392 | | | | | | | | | |
| Assets held for sale (Note 10) | | 100 | | | 94 | | | | | | | | | |
| Total current assets | | 45,892 | | | 45,274 | | | | | | | | | |
| Property, plant and equipment at cost | | 44,056 | | | 43,332 | | | | | | | | | |
| Less: accumulated depreciation | | (26,458) | | | (25,674) | | | | | | | | | |
| Property, plant and equipment, net | | 17,598 | | | 17,658 | | | | | | | | | |
| Intangible assets, net (Note 3) | | 47,413 | | | 47,643 | | | | | | | | | |
| Goodwill (Note 3) | | 33,890 | | | 33,639 | | | | | | | | | |
| Deferred taxes on income (Note 5) | | 7,805 | | | 7,819 | | | | | | | | | |
| Other assets | | 5,782 | | | 5,695 | | | | | | | | | |
| Total assets | | $ | 158,380 | | | 157,728 | | | | | | | | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | | | | | | | | |
| Current liabilities: | | | | | | | | | | | | | | |
| Loans and notes payable | | $ | 5,332 | | | 1,202 | | | | | | | | |
| Accounts payable | | 6,765 | | | 8,544 | | | | | | | | | |
| Accrued liabilities | | 8,940 | | | 9,715 | | | | | | | | | |
| Accrued rebates, returns and promotions | | 11,790 | | | 10,883 | | | | | | | | | |
| Accrued compensation and employee related obligations | | 2,313 | | | 3,354 | | | | | | | | | |
| Accrued taxes on income (Note 5) | | 1,632 | | | 2,266 | | | | | | | | | |
| Total current liabilities | | 36,772 | | | 35,964 | | | | | | | | | |
| Long-term debt (Note 4) | | 25,062 | | | 26,494 | | | | | | | | | |
| Deferred taxes on income(Note 5) | | 5,532 | | | 5,958 | | | | | | | | | |
| Employee related obligations (Note 6) | | 10,411 | | | 10,663 | | | | | | | | | |
| Long-term taxes payable (Note 5) | | 6,591 | | | 7,444 | | | | | | | | | |
| Other liabilities | | 11,034 | | | 11,734 | | | | | | | | | |
| Total liabilities | | 95,402 | | | 98,257 | | | | | | | | | |
| Commitments and Contingencies (Note 11) | | | | | | | | | | | | | | |
| Shareholders’ equity: | | | | | | | | | | | | | | |
| Common stock — par value $1.00 per share (authorized 4,320,000,000 shares; issued 3,119,843,000 shares) | | $ | 3,120 | | | 3,120 | | | | | | | | |
| Accumulated other comprehensive income (loss) (Note 7) | | (15,533) | | | (15,891) | | | | | | | | | |
| Retained earnings | | 113,898 | | | 110,659 | | | | | | | | | |
| Less: common stock held in treasury, at cost (487,466,000 and 487,336,000 shares) | | 38,507 | | | 38,417 | | | | | | | | | |
| Total shareholders’ equity | | 62,978 | | | 59,471 | | | | | | | | | |
| Total liabilities and shareholders' equity | | $ | 158,380 | | | 157,728 | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 |
|:------------------------------------------------------------------------------------------|:-----------|:------------------------|:-----------|:-------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | |
| | | Fiscal Six Months Ended | | | | | | | | | | | | |
| | | June 28,2020 | | June 30,2019 | | | | | | | | | | |
| CASH FLOWS FROM OPERATING ACTIVITIES | | | | | | | | | | | | | | |
| Net earnings | | $ | 9,422 | | | 9,356 | | | | | | | | |
| Adjustments to reconcile net earnings to cash flows from operating activities: | | | | | | | | | | | | | | |
| Depreciation and amortization of property and intangibles | | 3,473 | | | 3,466 | | | | | | | | | |
| Stock based compensation | | 589 | | | 572 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Asset write-downs | | 33 | | | 989 | | | | | | | | | |
| Contingent consideration reversal | | (983) | | | — | | | | | | | | | |
| Net gain on sale of assets/businesses | | (60) | | | (2,079) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Deferred tax provision | | (428) | | | (694) | | | | | | | | | |
| Credit losses and accounts receivable allowances | | 117 | | | 1 | | | | | | | | | |
| Changes in assets and liabilities, net of effects from acquisitions and divestitures: | | | | | | | | | | | | | | |
| Increase in accounts receivable | | (520) | | | (336) | | | | | | | | | |
| Increase in inventories | | (637) | | | (423) | | | | | | | | | |
| Decrease in accounts payable and accrued liabilities | | (2,319) | | | (444) | | | | | | | | | |
| Increase in other current and non-current assets | | (1,048) | | | (862) | | | | | | | | | |
| Decrease in other current and non-current liabilities | | (829) | | | (55) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| NET CASH FLOWS FROM OPERATING ACTIVITIES | | 6,810 | | | 9,491 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM INVESTING ACTIVITIES | | | | | | | | | | | | | | |
| Additions to property, plant and equipment | | (1,287) | | | (1,493) | | | | | | | | | |
| Proceeds from the disposal of assets/businesses, net | | 87 | | | 3,018 | | | | | | | | | |
| Acquisitions, net of cash acquired | | (949) | | | (5,346) | | | | | | | | | |
| Purchases of investments | | (8,551) | | | (1,517) | | | | | | | | | |
| Sales of investments | | 2,417 | | | 2,132 | | | | | | | | | |
| Proceeds from credit support agreements, net | | 672 | | | — | | | | | | | | | |
| Other (primarily licenses and milestones) | | (492) | | | 1 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| NET CASH USED BY INVESTING ACTIVITIES | | (8,103) | | | (3,205) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM FINANCING ACTIVITIES | | | | | | | | | | | | | | |
| Dividends to shareholders | | (5,164) | | | (4,918) | | | | | | | | | |
| Repurchase of common stock | | (2,417) | | | (4,692) | | | | | | | | | |
| Proceeds from short-term debt | | 2,717 | | | 15 | | | | | | | | | |
| Repayment of short-term debt | | (17) | | | (12) | | | | | | | | | |
| Proceeds from long-term debt, net of issuance costs | | 1 | | | 1 | | | | | | | | | |
| Repayment of long-term debt | | (11) | | | (1,005) | | | | | | | | | |
| Proceeds from the exercise of stock options/employee withholding tax on stock awards, net | | 708 | | | 463 | | | | | | | | | |
| Other | | (489) | | | 98 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| NET CASH USED BY FINANCING ACTIVITIES | | (4,672) | | | (10,050) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Effect of exchange rate changes on cash and cash equivalents | | (166) | | | 33 | | | | | | | | | |
| Decrease in cash and cash equivalents | | (6,131) | | | (3,731) | | | | | | | | | |
| Cash and Cash equivalents, beginning of period | | 17,305 | | | 18,107 | | | | | | | | | |
| CASH AND CASH EQUIVALENTS, END OF PERIOD | | $ | 11,174 | | | 14,376 | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Acquisitions | | | | | | | | | | | | | | |
| Fair value of assets acquired | | $ | 1,173 | | | 6,744 | | | | | | | | |
| Fair value of liabilities assumed and noncontrolling interests | | (224) | | | (1,398) | | | | | | | | | |
| Net cash paid for acquisitions | | $ | 949 | | | 5,346 | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 | Column 22 | Column 23 | Column 24 | Column 25 | Column 26 | Column 27 |
|:-----------------------------------------------|:-----------|:----------------------------|:-----------|:----------------|:-----------|:-------------|:-----------|:----------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Fiscal Second Quarter Ended | | | | | | | | | | | | | | | | | | | | | | | | |
| | | June 28,2020 | | Percentto Sales | | June 30,2019 | | Percentto Sales | | | | | | | | | | | | | | | | | | |
| Sales to customers (Note 9) | | $ | 18,336 | | | 100.0 | % | | $ | 20,562 | | | 100.0 | % | | | | | | | | | | | | |
| Cost of products sold | | 6,579 | | | 35.9 | | | 6,940 | | | 33.8 | | | | | | | | | | | | | | | |
| Gross profit | | 11,757 | | | 64.1 | | | 13,622 | | | 66.2 | | | | | | | | | | | | | | | |
| Selling, marketing and administrative expenses | | 4,993 | | | 27.2 | | | 5,546 | | | 27.0 | | | | | | | | | | | | | | | |
| Research and development expense | | 2,707 | | | 14.8 | | | 2,666 | | | 13.0 | | | | | | | | | | | | | | | |
| In-process research and development | | 6 | | | 0.0 | | | — | | | — | | | | | | | | | | | | | | | |
| Interest income | | (19) | | | (0.1) | | | (88) | | | (0.4) | | | | | | | | | | | | | | | |
| Interest expense, net of portion capitalized | | 45 | | | 0.3 | | | 83 | | | 0.4 | | | | | | | | | | | | | | | |
| Other (income) expense, net | | 24 | | | 0.1 | | | (1,683) | | | (8.2) | | | | | | | | | | | | | | | |
| Restructuring (Note 12) | | 61 | | | 0.3 | | | 57 | | | 0.2 | | | | | | | | | | | | | | | |
| Earnings before provision for taxes on income | | 3,940 | | | 21.5 | | | 7,041 | | | 34.2 | | | | | | | | | | | | | | | |
| Provision for taxes on income (Note 5) | | 314 | | | 1.7 | | | 1,434 | | | 6.9 | | | | | | | | | | | | | | | |
| NET EARNINGS | | $ | 3,626 | | | 19.8 | % | | $ | 5,607 | | | 27.3 | % | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| NET EARNINGS PER SHARE (Note 8) | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | $ | 1.38 | | | | | $ | 2.11 | | | | | | | | | | | | | | | | | |
| Diluted | | $ | 1.36 | | | | | $ | 2.08 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| AVG. SHARES OUTSTANDING | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | 2,632.9 | | | | | 2,652.5 | | | | | | | | | | | | | | | | | | | |
| Diluted | | 2,665.5 | | | | | 2,691.7 | | | | | | | | | | | | | | | | | | | |
---
English News:
Ethicon*, part of the Johnson & Johnson Medical Devices Company**, announced the U.S. Food and Drug Administration (FDA) has granted Breakthrough Device Designation for transbronchial microwave ablation technology using robotic-assisted bronchoscopy, which is currently under development. The Breakthrough Devices Program is a voluntary program for certain medical devices that provide for more effective treatment or diagnosis of life-threatening or irreversibly debilitating diseases or conditions. The goal of the Breakthrough Devices Program is to provide patients and health care providers with timely access to these medical devices by speeding up their development, assessment, and review, while preserving the statutory standards for premarket approval, 510(k) clearance, and De Novo marketing authorization, consistent with the Agency's mission to protect and promote public health. \"Our acquisitions of NeuWave Medical and Auris Health have enabled us to bring two best-in-class platforms together as we work to develop this breakthrough technology,\" said Vladimir Makatsaria, Company Group Chairman of Ethicon, Johnson & Johnson. \"We look forward to working collaboratively with the FDA to help prioritize development and access for patients.\" Ethicon is a global leader in soft tissue microwave ablation and in flexible endoluminal robotics. The NEUWAVE Microwave Ablation System provides a minimally invasive option for soft tissue lesions, with more than 45,000 procedures performed to date. The MONARCH Platform provides improved reach into the periphery of the lung with continuous real-time vision, precision and control. MONARCH was the first robotic-assisted bronchoscopy system introduced in the United States with more than 3,300 procedures performed to date. \"Through our commitment to transform patients' lives, Johnson & Johnson is advancing innovative solutions with a focus on the prevention, interception and cure of some of the world's most complex, life-threatening diseases,\" saidAvrumSpira, M.D., M.Sc., Global Head of the Lung Cancer Initiative at Johnson & Johnson.*** \"This promising convergence oftechnologies offers an exciting opportunity to catalyze new approaches and solutions toimprove patient outcomes, andwelook forward to evaluating this device ina comprehensive clinicaldevelopment program.\" About EthiconEthicon, part of Johnson & Johnson Medical Devices Companies, has made significant contributions to surgery for more than 100 years from creating the first sutures, to revolutionizing surgery with minimally invasive procedures. Our continuing dedication to Shape the Future of Surgery is built on our commitment to help address the world's most pressing health care issues and improve and save more lives. Through Ethicon's surgical technologies and solutions including sutures, staplers, energy devices, trocars and hemostats and our commitment to treat serious medical conditions like obesity worldwide, we deliver innovation to make a life-changing impact. For more information, visitwww.ethicon.com. About Johnson & Johnson Medical Devices CompaniesAt Johnson & Johnson Medical Devices Companies, we are helping people live their best lives. Building on more than a century of expertise, we tackle pressing healthcare challenges, and take bold steps that lead to new standards of care while improving people's healthcare experiences. In surgery, orthopaedics, vision and interventional solutions, we are helping to save lives and paving the way to a healthier future for everyone, everywhere. *Ethicon represents the products and services of Ethicon, Inc., Ethicon Endo-Surgery, LLC and certain of their affiliates. All other trademarks are the property of their respective owners. **The Johnson & Johnson Medical Devices Companies comprise the surgery, orthopedics, vision and interventional solutions businesses within Johnson & Johnson's Medical Devices segment.*** The legal entity of the Lung Cancer Initiative at Johnson & Johnson is Johnson & Johnson Enterprise Innovation, Inc. Notice to Investors Concerning Forward-Looking Statements This press release contains \"forward-looking statements\" as defined in the Private Securities Litigation Reform Act of 1995 regarding NeuWave. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to: challenges and uncertainties inherent in product research and development, including the uncertainty of clinical success and of obtaining regulatory approvals; uncertainty of commercial success; manufacturing difficulties and delays; competition, including technological advances, new products and patents attained by competitors; challenges to patents; product efficacy or safety concerns resulting in product recalls or regulatory action; changes in behavior and spending patterns of purchasers of health care products and services; changes to applicable laws and regulations, including global health care reforms; and trends toward health care cost containment. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended December 29, 2019, including in the sections captioned \"Cautionary Note Regarding Forward-Looking Statements\" and \"Item 1A. Risk Factors,\" and in the company's most recently filed Quarterly Report on Form 10-Q, and the company's subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments. SOURCE Ethicon, Inc.
Chinese News:
强生日前发布的2020年半年财务报告显示：今年上半年其全球营收为390.27亿美元，同比下降3.8%，其中医疗器械业务营收102.2亿美元，同比下降21.1%。有强生高管表示，新冠肺炎疫情发生后，大家减少外出所以受伤几率变小，创伤性手术也因此大幅减少。半年报显示，强生医疗器械板块四大业务均下滑，其中介入解决方案业务营收13.17亿美元，同比下降11.2%；骨科业务营收34.89亿美元，同比下降21.2%；外科手术业务营收36.51亿美元，同比下降23.1%；视力保健业务营收17.62亿美元，同比下降23%。
Japanese News:
米ジョンソン・エンド・ジョンソン（J&J）と同業のアボット・ラボラトリーズは、新型コロナウイルス感染拡大が続く中でも、医療機器分野の最も厳しい時期は既に過ぎつつあるとの認識を示した。 両社が発表した4～6月期（第2四半期）の業績は、慎重だった市場の事前予測を上回った。J&Jは今年の通期調整後利益予想を引き上げ、一方のアボットは、3カ月前に一旦取り下げていた通期の業績見通しを改めて示した。感染拡大初期には医療機関で緊急性の低い手術の延期や中止が相次ぎ、医療機器の販売が大きく落ち込んだが、現在はこうした状況が徐々に改善してきているという。 エドワード・ジョーンズ証券のアナリストであるアシュティン・エバンス氏は、「新型コロナの影響は4～6月期にピークを迎えた可能性が高い」と指摘した。 特にアボットは、新型コロナの検査キットや関連製品をいち早く市場投入したことで業績が伸び、4～6月期には検査関連だけで6億1500万ドル（約660億円）の売上を記録した。全体の純売上高は73億3000万ドル、調整後1株当たり利益は継続事業ベースで57セントとなり、それぞれ市場予想を上回った。また、通年の調整後1株利益については、少なくとも3.25ドルに達するとの見通しを示した。同社幹部は、米政権と連携しながら、サプライチェーンを強化し、医薬品供給への関税の影響を最小限に抑えるべきだと強調した。 一方、J&Jは2025年通期の売上高予想を従来の909億～917億ドルから916億～924億ドルへと、約7億ドル引き上げた。この背景には、新たに統合失調症や双極性うつ病の治療薬「カプリタ」の販売開始や、抗うつ薬「スプラバト」の年間売上が2028年までに30億～35億ドルに達する見通しなどが影響している。 また、通期の調整後1株利益予想を10.50～10.70ドルと設定。これは市場予想平均の10.43ドル（LSEGのデータに基づく）を大きく上回る数値だ。 第1四半期の業績を見ると、売上高は前年同期比2.4％増の218億9000万ドルとなり、調整後の1株利益も2.77ドルを記録。いずれもアナリストの予想（売上高215億6000万ドル、1株利益2.59ドル）を超えた。 J&Jの医薬品部門は売上高が市場予想を超え堅調だったものの、医療機器部門の売上高は前年同期比で増加したにもかかわらず、市場予測に届かなかった。
Spanish News:
El grupo estadounidense de productos farmacéuticos Johnson & Johnson ganó US$9.422 millones durante el primer semestre de 2020, en plena pandemia por el covid-19, un 0,7 % más que en el mismo periodo del año anterior. La compañía informó que entre enero y junio, el conglomerado especializado en la venta de productos de belleza y farmacéuticos facturó US$39.027 millones, un 3,8% menos que en el mismo intervalo del año pasado. Entre abril y junio, Johnson & Johnson ganó US$3.626 millones, 35% menos que en el mismo periodo de 2019; mientras que las ventas cayeron 10,8% interanual, hasta US$18.336 millones. Los analistas achacan la bajada del beneficio netos en el último trimestre a los efectos colaterales del covid-19, que ha obligado a muchos hospitales a posponer cirugías y tratamientos, lo que ha afectado gravemente a sus líneas de negocio. J&J ha revelado hoy que están intentando llegar a un acuerdo con los Institutos Nacionales de Salud para que les permita adelantar la última fase del ensayo de la vacuna, que tenían planeado llevar a cabo en septiembre. Asimismo, la compañía dijo que espera comenzar pruebas preliminares con 1.000 personas la próxima semana. Por sectores de negocio, el principal siguen siendo los productos farmacéuticos, que aumentaron un 2,1 % sus ventas, hasta los US$10.752 millones. La unidad de consumidores de la compañía, que fabrica por ejemplo productos de higiene bucal, generó US$3.296 millones en ingresos, 7% menos que el año previo. En general, la disminución en las ventas de dispositivos médicos fue parcialmente compensada por mayores ventas de otros productos de venta libre como el Tylenol o Listerine. En una jornada que se prevé bajista, los datos no despertaron gran interés en los inversores y, diez minutos antes del arranque de la sesión bursátil, los títulos de Johnson & Johnson avanzaban 0,2% en Wall Street. En lo que va de año, la farmacéutica se ha revalorizado 1,64%.
Greek News:
Η Johnson & Johnson ανακοίνωσε την εξαγορά της Momenta Pharmaceuticals έναντι 6,5 δισεκατομμυρίων δολαρίων, μέσω προσφοράς εξαγοράς με μετρητά ύψους 52,50 δολαρίων ανά μετοχή. Η συμφωνία αυτή ενισχύει τη θέση της εταιρείας στον τομέα των αυτοάνοσων νοσημάτων, καθώς αποκτά πρόσβαση στο πειραματικό φάρμακο nipocalimab, το οποίο στοχεύει παθήσεις που σχετίζονται με την παρουσία αυτοαντισωμάτων. Παράλληλα, η εξαγορά επεκτείνει την παρουσία της J&J στο κέντρο καινοτομίας του Cambridge, Massachussets. Παράλληλα, η Ευρωπαϊκή Επιτροπή ανακοίνωσε την ολοκλήρωση προκαταρκτικών συνομιλιών με την Johnson & Johnson για την προμήθεια πιθανού εμβολίου για την αντιμετώπιση του COVID-19. Η συμφωνία αυτή προβλέπει την δυνατότητα αγοράς ή δωρεάς 200 εκατομμυρίων δόσεων από τα κράτη μέλη της ΕΕ με προοπτική για επιπλέον 200 εκατομμύρια. Η Κομισιόν συνεχίζει τις διαπραγματεύσεις και με άλλες φαρμακευτικές εταιρίας στο πλαίσιο της ευρωπαϊκής στρατηγικής για την αντιμετώπιση της πανδημίας. Αντίστοιχα, στις Ηνωμένες Πολιτείες, η κυβέρνηση έχει δεσμεύσει συνολικά τουλάχιστον $ 9,4 δισεκατομμύρια για την ανάπτυξη και προμήθεια εμβολίων, με την Johnson & Johnson να λαμβάνει χρηματοδότηση 1 δισεκατομμυρίου για την παραγωγή 100 εκατομμυρίων δόσεων. Η συμφωνία περιλαμβάνει και δυνατότητα επέκτασης για επιπλέον 200 εκατομμύρια δόσεις. Συνολικά, έχουν συναφθεί συμφωνίες με πέντε εταιρείες για περισσότερες από 700 εκατομμύρια δόσεις, υπό την προϋπόθεση της αποτελεσματικότητάς τους.
Question:
How is the company allocating capital (e.g., investments, share repurchases, dividends) based on its performance and market outlook from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | How is the company allocating capital (e.g., investments, share repurchases, dividends) based on its performance and market outlook from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Johnson & Johnson is allocating capital through acquisitions. It acquired Momenta Pharmaceuticals for $6.5B (Greek news). This indicates strategic investments in immunology and pandemic response.
Financial Statement Evidence:
Cash used in investing activities: $8.1B; Additions to property, plant and equipment: $1.3BM |
JNJ_20200724 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 |
|:--------------------------------------------------------------------------------------------------------|:-----------|:--------------|:-----------|:------------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | |
| | | June 28, 2020 | | December 29, 2019 | | | | | | | | | | |
| ASSETS | | | | | | | | | | | | | | |
| Current assets: | | | | | | | | | | | | | | |
| Cash and cash equivalents | | $ | 11,174 | | | 17,305 | | | | | | | | |
| Marketable securities | | 7,961 | | | 1,982 | | | | | | | | | |
| Accounts receivable, trade, less allowances for doubtful accounts and credit losses $334 (2019, $226) | | 14,645 | | | 14,481 | | | | | | | | | |
| Inventories (Note 2) | | 9,424 | | | 9,020 | | | | | | | | | |
| Prepaid expenses and other | | 2,588 | | | 2,392 | | | | | | | | | |
| Assets held for sale (Note 10) | | 100 | | | 94 | | | | | | | | | |
| Total current assets | | 45,892 | | | 45,274 | | | | | | | | | |
| Property, plant and equipment at cost | | 44,056 | | | 43,332 | | | | | | | | | |
| Less: accumulated depreciation | | (26,458) | | | (25,674) | | | | | | | | | |
| Property, plant and equipment, net | | 17,598 | | | 17,658 | | | | | | | | | |
| Intangible assets, net (Note 3) | | 47,413 | | | 47,643 | | | | | | | | | |
| Goodwill (Note 3) | | 33,890 | | | 33,639 | | | | | | | | | |
| Deferred taxes on income (Note 5) | | 7,805 | | | 7,819 | | | | | | | | | |
| Other assets | | 5,782 | | | 5,695 | | | | | | | | | |
| Total assets | | $ | 158,380 | | | 157,728 | | | | | | | | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | | | | | | | | |
| Current liabilities: | | | | | | | | | | | | | | |
| Loans and notes payable | | $ | 5,332 | | | 1,202 | | | | | | | | |
| Accounts payable | | 6,765 | | | 8,544 | | | | | | | | | |
| Accrued liabilities | | 8,940 | | | 9,715 | | | | | | | | | |
| Accrued rebates, returns and promotions | | 11,790 | | | 10,883 | | | | | | | | | |
| Accrued compensation and employee related obligations | | 2,313 | | | 3,354 | | | | | | | | | |
| Accrued taxes on income (Note 5) | | 1,632 | | | 2,266 | | | | | | | | | |
| Total current liabilities | | 36,772 | | | 35,964 | | | | | | | | | |
| Long-term debt (Note 4) | | 25,062 | | | 26,494 | | | | | | | | | |
| Deferred taxes on income(Note 5) | | 5,532 | | | 5,958 | | | | | | | | | |
| Employee related obligations (Note 6) | | 10,411 | | | 10,663 | | | | | | | | | |
| Long-term taxes payable (Note 5) | | 6,591 | | | 7,444 | | | | | | | | | |
| Other liabilities | | 11,034 | | | 11,734 | | | | | | | | | |
| Total liabilities | | 95,402 | | | 98,257 | | | | | | | | | |
| Commitments and Contingencies (Note 11) | | | | | | | | | | | | | | |
| Shareholders’ equity: | | | | | | | | | | | | | | |
| Common stock — par value $1.00 per share (authorized 4,320,000,000 shares; issued 3,119,843,000 shares) | | $ | 3,120 | | | 3,120 | | | | | | | | |
| Accumulated other comprehensive income (loss) (Note 7) | | (15,533) | | | (15,891) | | | | | | | | | |
| Retained earnings | | 113,898 | | | 110,659 | | | | | | | | | |
| Less: common stock held in treasury, at cost (487,466,000 and 487,336,000 shares) | | 38,507 | | | 38,417 | | | | | | | | | |
| Total shareholders’ equity | | 62,978 | | | 59,471 | | | | | | | | | |
| Total liabilities and shareholders' equity | | $ | 158,380 | | | 157,728 | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 |
|:------------------------------------------------------------------------------------------|:-----------|:------------------------|:-----------|:-------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | |
| | | Fiscal Six Months Ended | | | | | | | | | | | | |
| | | June 28,2020 | | June 30,2019 | | | | | | | | | | |
| CASH FLOWS FROM OPERATING ACTIVITIES | | | | | | | | | | | | | | |
| Net earnings | | $ | 9,422 | | | 9,356 | | | | | | | | |
| Adjustments to reconcile net earnings to cash flows from operating activities: | | | | | | | | | | | | | | |
| Depreciation and amortization of property and intangibles | | 3,473 | | | 3,466 | | | | | | | | | |
| Stock based compensation | | 589 | | | 572 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Asset write-downs | | 33 | | | 989 | | | | | | | | | |
| Contingent consideration reversal | | (983) | | | — | | | | | | | | | |
| Net gain on sale of assets/businesses | | (60) | | | (2,079) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Deferred tax provision | | (428) | | | (694) | | | | | | | | | |
| Credit losses and accounts receivable allowances | | 117 | | | 1 | | | | | | | | | |
| Changes in assets and liabilities, net of effects from acquisitions and divestitures: | | | | | | | | | | | | | | |
| Increase in accounts receivable | | (520) | | | (336) | | | | | | | | | |
| Increase in inventories | | (637) | | | (423) | | | | | | | | | |
| Decrease in accounts payable and accrued liabilities | | (2,319) | | | (444) | | | | | | | | | |
| Increase in other current and non-current assets | | (1,048) | | | (862) | | | | | | | | | |
| Decrease in other current and non-current liabilities | | (829) | | | (55) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| NET CASH FLOWS FROM OPERATING ACTIVITIES | | 6,810 | | | 9,491 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM INVESTING ACTIVITIES | | | | | | | | | | | | | | |
| Additions to property, plant and equipment | | (1,287) | | | (1,493) | | | | | | | | | |
| Proceeds from the disposal of assets/businesses, net | | 87 | | | 3,018 | | | | | | | | | |
| Acquisitions, net of cash acquired | | (949) | | | (5,346) | | | | | | | | | |
| Purchases of investments | | (8,551) | | | (1,517) | | | | | | | | | |
| Sales of investments | | 2,417 | | | 2,132 | | | | | | | | | |
| Proceeds from credit support agreements, net | | 672 | | | — | | | | | | | | | |
| Other (primarily licenses and milestones) | | (492) | | | 1 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| NET CASH USED BY INVESTING ACTIVITIES | | (8,103) | | | (3,205) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM FINANCING ACTIVITIES | | | | | | | | | | | | | | |
| Dividends to shareholders | | (5,164) | | | (4,918) | | | | | | | | | |
| Repurchase of common stock | | (2,417) | | | (4,692) | | | | | | | | | |
| Proceeds from short-term debt | | 2,717 | | | 15 | | | | | | | | | |
| Repayment of short-term debt | | (17) | | | (12) | | | | | | | | | |
| Proceeds from long-term debt, net of issuance costs | | 1 | | | 1 | | | | | | | | | |
| Repayment of long-term debt | | (11) | | | (1,005) | | | | | | | | | |
| Proceeds from the exercise of stock options/employee withholding tax on stock awards, net | | 708 | | | 463 | | | | | | | | | |
| Other | | (489) | | | 98 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| NET CASH USED BY FINANCING ACTIVITIES | | (4,672) | | | (10,050) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Effect of exchange rate changes on cash and cash equivalents | | (166) | | | 33 | | | | | | | | | |
| Decrease in cash and cash equivalents | | (6,131) | | | (3,731) | | | | | | | | | |
| Cash and Cash equivalents, beginning of period | | 17,305 | | | 18,107 | | | | | | | | | |
| CASH AND CASH EQUIVALENTS, END OF PERIOD | | $ | 11,174 | | | 14,376 | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Acquisitions | | | | | | | | | | | | | | |
| Fair value of assets acquired | | $ | 1,173 | | | 6,744 | | | | | | | | |
| Fair value of liabilities assumed and noncontrolling interests | | (224) | | | (1,398) | | | | | | | | | |
| Net cash paid for acquisitions | | $ | 949 | | | 5,346 | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 | Column 22 | Column 23 | Column 24 | Column 25 | Column 26 | Column 27 |
|:-----------------------------------------------|:-----------|:----------------------------|:-----------|:----------------|:-----------|:-------------|:-----------|:----------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Fiscal Second Quarter Ended | | | | | | | | | | | | | | | | | | | | | | | | |
| | | June 28,2020 | | Percentto Sales | | June 30,2019 | | Percentto Sales | | | | | | | | | | | | | | | | | | |
| Sales to customers (Note 9) | | $ | 18,336 | | | 100.0 | % | | $ | 20,562 | | | 100.0 | % | | | | | | | | | | | | |
| Cost of products sold | | 6,579 | | | 35.9 | | | 6,940 | | | 33.8 | | | | | | | | | | | | | | | |
| Gross profit | | 11,757 | | | 64.1 | | | 13,622 | | | 66.2 | | | | | | | | | | | | | | | |
| Selling, marketing and administrative expenses | | 4,993 | | | 27.2 | | | 5,546 | | | 27.0 | | | | | | | | | | | | | | | |
| Research and development expense | | 2,707 | | | 14.8 | | | 2,666 | | | 13.0 | | | | | | | | | | | | | | | |
| In-process research and development | | 6 | | | 0.0 | | | — | | | — | | | | | | | | | | | | | | | |
| Interest income | | (19) | | | (0.1) | | | (88) | | | (0.4) | | | | | | | | | | | | | | | |
| Interest expense, net of portion capitalized | | 45 | | | 0.3 | | | 83 | | | 0.4 | | | | | | | | | | | | | | | |
| Other (income) expense, net | | 24 | | | 0.1 | | | (1,683) | | | (8.2) | | | | | | | | | | | | | | | |
| Restructuring (Note 12) | | 61 | | | 0.3 | | | 57 | | | 0.2 | | | | | | | | | | | | | | | |
| Earnings before provision for taxes on income | | 3,940 | | | 21.5 | | | 7,041 | | | 34.2 | | | | | | | | | | | | | | | |
| Provision for taxes on income (Note 5) | | 314 | | | 1.7 | | | 1,434 | | | 6.9 | | | | | | | | | | | | | | | |
| NET EARNINGS | | $ | 3,626 | | | 19.8 | % | | $ | 5,607 | | | 27.3 | % | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| NET EARNINGS PER SHARE (Note 8) | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | $ | 1.38 | | | | | $ | 2.11 | | | | | | | | | | | | | | | | | |
| Diluted | | $ | 1.36 | | | | | $ | 2.08 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| AVG. SHARES OUTSTANDING | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | 2,632.9 | | | | | 2,652.5 | | | | | | | | | | | | | | | | | | | |
| Diluted | | 2,665.5 | | | | | 2,691.7 | | | | | | | | | | | | | | | | | | | |
---
English News:
Ethicon*, part of the Johnson & Johnson Medical Devices Company**, announced the U.S. Food and Drug Administration (FDA) has granted Breakthrough Device Designation for transbronchial microwave ablation technology using robotic-assisted bronchoscopy, which is currently under development. The Breakthrough Devices Program is a voluntary program for certain medical devices that provide for more effective treatment or diagnosis of life-threatening or irreversibly debilitating diseases or conditions. The goal of the Breakthrough Devices Program is to provide patients and health care providers with timely access to these medical devices by speeding up their development, assessment, and review, while preserving the statutory standards for premarket approval, 510(k) clearance, and De Novo marketing authorization, consistent with the Agency's mission to protect and promote public health. \"Our acquisitions of NeuWave Medical and Auris Health have enabled us to bring two best-in-class platforms together as we work to develop this breakthrough technology,\" said Vladimir Makatsaria, Company Group Chairman of Ethicon, Johnson & Johnson. \"We look forward to working collaboratively with the FDA to help prioritize development and access for patients.\" Ethicon is a global leader in soft tissue microwave ablation and in flexible endoluminal robotics. The NEUWAVE Microwave Ablation System provides a minimally invasive option for soft tissue lesions, with more than 45,000 procedures performed to date. The MONARCH Platform provides improved reach into the periphery of the lung with continuous real-time vision, precision and control. MONARCH was the first robotic-assisted bronchoscopy system introduced in the United States with more than 3,300 procedures performed to date. \"Through our commitment to transform patients' lives, Johnson & Johnson is advancing innovative solutions with a focus on the prevention, interception and cure of some of the world's most complex, life-threatening diseases,\" saidAvrumSpira, M.D., M.Sc., Global Head of the Lung Cancer Initiative at Johnson & Johnson.*** \"This promising convergence oftechnologies offers an exciting opportunity to catalyze new approaches and solutions toimprove patient outcomes, andwelook forward to evaluating this device ina comprehensive clinicaldevelopment program.\" About EthiconEthicon, part of Johnson & Johnson Medical Devices Companies, has made significant contributions to surgery for more than 100 years from creating the first sutures, to revolutionizing surgery with minimally invasive procedures. Our continuing dedication to Shape the Future of Surgery is built on our commitment to help address the world's most pressing health care issues and improve and save more lives. Through Ethicon's surgical technologies and solutions including sutures, staplers, energy devices, trocars and hemostats and our commitment to treat serious medical conditions like obesity worldwide, we deliver innovation to make a life-changing impact. For more information, visitwww.ethicon.com. About Johnson & Johnson Medical Devices CompaniesAt Johnson & Johnson Medical Devices Companies, we are helping people live their best lives. Building on more than a century of expertise, we tackle pressing healthcare challenges, and take bold steps that lead to new standards of care while improving people's healthcare experiences. In surgery, orthopaedics, vision and interventional solutions, we are helping to save lives and paving the way to a healthier future for everyone, everywhere. *Ethicon represents the products and services of Ethicon, Inc., Ethicon Endo-Surgery, LLC and certain of their affiliates. All other trademarks are the property of their respective owners. **The Johnson & Johnson Medical Devices Companies comprise the surgery, orthopedics, vision and interventional solutions businesses within Johnson & Johnson's Medical Devices segment.*** The legal entity of the Lung Cancer Initiative at Johnson & Johnson is Johnson & Johnson Enterprise Innovation, Inc. Notice to Investors Concerning Forward-Looking Statements This press release contains \"forward-looking statements\" as defined in the Private Securities Litigation Reform Act of 1995 regarding NeuWave. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to: challenges and uncertainties inherent in product research and development, including the uncertainty of clinical success and of obtaining regulatory approvals; uncertainty of commercial success; manufacturing difficulties and delays; competition, including technological advances, new products and patents attained by competitors; challenges to patents; product efficacy or safety concerns resulting in product recalls or regulatory action; changes in behavior and spending patterns of purchasers of health care products and services; changes to applicable laws and regulations, including global health care reforms; and trends toward health care cost containment. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended December 29, 2019, including in the sections captioned \"Cautionary Note Regarding Forward-Looking Statements\" and \"Item 1A. Risk Factors,\" and in the company's most recently filed Quarterly Report on Form 10-Q, and the company's subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments. SOURCE Ethicon, Inc.
Chinese News:
强生日前发布的2020年半年财务报告显示：今年上半年其全球营收为390.27亿美元，同比下降3.8%，其中医疗器械业务营收102.2亿美元，同比下降21.1%。有强生高管表示，新冠肺炎疫情发生后，大家减少外出所以受伤几率变小，创伤性手术也因此大幅减少。半年报显示，强生医疗器械板块四大业务均下滑，其中介入解决方案业务营收13.17亿美元，同比下降11.2%；骨科业务营收34.89亿美元，同比下降21.2%；外科手术业务营收36.51亿美元，同比下降23.1%；视力保健业务营收17.62亿美元，同比下降23%。
Japanese News:
米ジョンソン・エンド・ジョンソン（J&J）と同業のアボット・ラボラトリーズは、新型コロナウイルス感染拡大が続く中でも、医療機器分野の最も厳しい時期は既に過ぎつつあるとの認識を示した。 両社が発表した4～6月期（第2四半期）の業績は、慎重だった市場の事前予測を上回った。J&Jは今年の通期調整後利益予想を引き上げ、一方のアボットは、3カ月前に一旦取り下げていた通期の業績見通しを改めて示した。感染拡大初期には医療機関で緊急性の低い手術の延期や中止が相次ぎ、医療機器の販売が大きく落ち込んだが、現在はこうした状況が徐々に改善してきているという。 エドワード・ジョーンズ証券のアナリストであるアシュティン・エバンス氏は、「新型コロナの影響は4～6月期にピークを迎えた可能性が高い」と指摘した。 特にアボットは、新型コロナの検査キットや関連製品をいち早く市場投入したことで業績が伸び、4～6月期には検査関連だけで6億1500万ドル（約660億円）の売上を記録した。全体の純売上高は73億3000万ドル、調整後1株当たり利益は継続事業ベースで57セントとなり、それぞれ市場予想を上回った。また、通年の調整後1株利益については、少なくとも3.25ドルに達するとの見通しを示した。同社幹部は、米政権と連携しながら、サプライチェーンを強化し、医薬品供給への関税の影響を最小限に抑えるべきだと強調した。 一方、J&Jは2025年通期の売上高予想を従来の909億～917億ドルから916億～924億ドルへと、約7億ドル引き上げた。この背景には、新たに統合失調症や双極性うつ病の治療薬「カプリタ」の販売開始や、抗うつ薬「スプラバト」の年間売上が2028年までに30億～35億ドルに達する見通しなどが影響している。 また、通期の調整後1株利益予想を10.50～10.70ドルと設定。これは市場予想平均の10.43ドル（LSEGのデータに基づく）を大きく上回る数値だ。 第1四半期の業績を見ると、売上高は前年同期比2.4％増の218億9000万ドルとなり、調整後の1株利益も2.77ドルを記録。いずれもアナリストの予想（売上高215億6000万ドル、1株利益2.59ドル）を超えた。 J&Jの医薬品部門は売上高が市場予想を超え堅調だったものの、医療機器部門の売上高は前年同期比で増加したにもかかわらず、市場予測に届かなかった。
Spanish News:
El grupo estadounidense de productos farmacéuticos Johnson & Johnson ganó US$9.422 millones durante el primer semestre de 2020, en plena pandemia por el covid-19, un 0,7 % más que en el mismo periodo del año anterior. La compañía informó que entre enero y junio, el conglomerado especializado en la venta de productos de belleza y farmacéuticos facturó US$39.027 millones, un 3,8% menos que en el mismo intervalo del año pasado. Entre abril y junio, Johnson & Johnson ganó US$3.626 millones, 35% menos que en el mismo periodo de 2019; mientras que las ventas cayeron 10,8% interanual, hasta US$18.336 millones. Los analistas achacan la bajada del beneficio netos en el último trimestre a los efectos colaterales del covid-19, que ha obligado a muchos hospitales a posponer cirugías y tratamientos, lo que ha afectado gravemente a sus líneas de negocio. J&J ha revelado hoy que están intentando llegar a un acuerdo con los Institutos Nacionales de Salud para que les permita adelantar la última fase del ensayo de la vacuna, que tenían planeado llevar a cabo en septiembre. Asimismo, la compañía dijo que espera comenzar pruebas preliminares con 1.000 personas la próxima semana. Por sectores de negocio, el principal siguen siendo los productos farmacéuticos, que aumentaron un 2,1 % sus ventas, hasta los US$10.752 millones. La unidad de consumidores de la compañía, que fabrica por ejemplo productos de higiene bucal, generó US$3.296 millones en ingresos, 7% menos que el año previo. En general, la disminución en las ventas de dispositivos médicos fue parcialmente compensada por mayores ventas de otros productos de venta libre como el Tylenol o Listerine. En una jornada que se prevé bajista, los datos no despertaron gran interés en los inversores y, diez minutos antes del arranque de la sesión bursátil, los títulos de Johnson & Johnson avanzaban 0,2% en Wall Street. En lo que va de año, la farmacéutica se ha revalorizado 1,64%.
Greek News:
Η Johnson & Johnson ανακοίνωσε την εξαγορά της Momenta Pharmaceuticals έναντι 6,5 δισεκατομμυρίων δολαρίων, μέσω προσφοράς εξαγοράς με μετρητά ύψους 52,50 δολαρίων ανά μετοχή. Η συμφωνία αυτή ενισχύει τη θέση της εταιρείας στον τομέα των αυτοάνοσων νοσημάτων, καθώς αποκτά πρόσβαση στο πειραματικό φάρμακο nipocalimab, το οποίο στοχεύει παθήσεις που σχετίζονται με την παρουσία αυτοαντισωμάτων. Παράλληλα, η εξαγορά επεκτείνει την παρουσία της J&J στο κέντρο καινοτομίας του Cambridge, Massachussets. Παράλληλα, η Ευρωπαϊκή Επιτροπή ανακοίνωσε την ολοκλήρωση προκαταρκτικών συνομιλιών με την Johnson & Johnson για την προμήθεια πιθανού εμβολίου για την αντιμετώπιση του COVID-19. Η συμφωνία αυτή προβλέπει την δυνατότητα αγοράς ή δωρεάς 200 εκατομμυρίων δόσεων από τα κράτη μέλη της ΕΕ με προοπτική για επιπλέον 200 εκατομμύρια. Η Κομισιόν συνεχίζει τις διαπραγματεύσεις και με άλλες φαρμακευτικές εταιρίας στο πλαίσιο της ευρωπαϊκής στρατηγικής για την αντιμετώπιση της πανδημίας. Αντίστοιχα, στις Ηνωμένες Πολιτείες, η κυβέρνηση έχει δεσμεύσει συνολικά τουλάχιστον $ 9,4 δισεκατομμύρια για την ανάπτυξη και προμήθεια εμβολίων, με την Johnson & Johnson να λαμβάνει χρηματοδότηση 1 δισεκατομμυρίου για την παραγωγή 100 εκατομμυρίων δόσεων. Η συμφωνία περιλαμβάνει και δυνατότητα επέκτασης για επιπλέον 200 εκατομμύρια δόσεις. Συνολικά, έχουν συναφθεί συμφωνίες με πέντε εταιρείες για περισσότερες από 700 εκατομμύρια δόσεις, υπό την προϋπόθεση της αποτελεσματικότητάς τους.
Question:
What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Johnson & Johnson’s strategy to maintain profit margins includes focusing on high-performing pharmaceutical products and advancing surgical innovations like robotic bronchoscopy (English news). The company also raised its full-year adjusted EPS guidance, reflecting confidence in operational efficiency (Japanese news).
Financial Statement Evidence:
Gross profit: $11,757M (3 month); Net earnings: $3,626M (3 month); Sales to customers: $18,336M |
JNJ_20200724 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 |
|:--------------------------------------------------------------------------------------------------------|:-----------|:--------------|:-----------|:------------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | |
| | | June 28, 2020 | | December 29, 2019 | | | | | | | | | | |
| ASSETS | | | | | | | | | | | | | | |
| Current assets: | | | | | | | | | | | | | | |
| Cash and cash equivalents | | $ | 11,174 | | | 17,305 | | | | | | | | |
| Marketable securities | | 7,961 | | | 1,982 | | | | | | | | | |
| Accounts receivable, trade, less allowances for doubtful accounts and credit losses $334 (2019, $226) | | 14,645 | | | 14,481 | | | | | | | | | |
| Inventories (Note 2) | | 9,424 | | | 9,020 | | | | | | | | | |
| Prepaid expenses and other | | 2,588 | | | 2,392 | | | | | | | | | |
| Assets held for sale (Note 10) | | 100 | | | 94 | | | | | | | | | |
| Total current assets | | 45,892 | | | 45,274 | | | | | | | | | |
| Property, plant and equipment at cost | | 44,056 | | | 43,332 | | | | | | | | | |
| Less: accumulated depreciation | | (26,458) | | | (25,674) | | | | | | | | | |
| Property, plant and equipment, net | | 17,598 | | | 17,658 | | | | | | | | | |
| Intangible assets, net (Note 3) | | 47,413 | | | 47,643 | | | | | | | | | |
| Goodwill (Note 3) | | 33,890 | | | 33,639 | | | | | | | | | |
| Deferred taxes on income (Note 5) | | 7,805 | | | 7,819 | | | | | | | | | |
| Other assets | | 5,782 | | | 5,695 | | | | | | | | | |
| Total assets | | $ | 158,380 | | | 157,728 | | | | | | | | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | | | | | | | | |
| Current liabilities: | | | | | | | | | | | | | | |
| Loans and notes payable | | $ | 5,332 | | | 1,202 | | | | | | | | |
| Accounts payable | | 6,765 | | | 8,544 | | | | | | | | | |
| Accrued liabilities | | 8,940 | | | 9,715 | | | | | | | | | |
| Accrued rebates, returns and promotions | | 11,790 | | | 10,883 | | | | | | | | | |
| Accrued compensation and employee related obligations | | 2,313 | | | 3,354 | | | | | | | | | |
| Accrued taxes on income (Note 5) | | 1,632 | | | 2,266 | | | | | | | | | |
| Total current liabilities | | 36,772 | | | 35,964 | | | | | | | | | |
| Long-term debt (Note 4) | | 25,062 | | | 26,494 | | | | | | | | | |
| Deferred taxes on income(Note 5) | | 5,532 | | | 5,958 | | | | | | | | | |
| Employee related obligations (Note 6) | | 10,411 | | | 10,663 | | | | | | | | | |
| Long-term taxes payable (Note 5) | | 6,591 | | | 7,444 | | | | | | | | | |
| Other liabilities | | 11,034 | | | 11,734 | | | | | | | | | |
| Total liabilities | | 95,402 | | | 98,257 | | | | | | | | | |
| Commitments and Contingencies (Note 11) | | | | | | | | | | | | | | |
| Shareholders’ equity: | | | | | | | | | | | | | | |
| Common stock — par value $1.00 per share (authorized 4,320,000,000 shares; issued 3,119,843,000 shares) | | $ | 3,120 | | | 3,120 | | | | | | | | |
| Accumulated other comprehensive income (loss) (Note 7) | | (15,533) | | | (15,891) | | | | | | | | | |
| Retained earnings | | 113,898 | | | 110,659 | | | | | | | | | |
| Less: common stock held in treasury, at cost (487,466,000 and 487,336,000 shares) | | 38,507 | | | 38,417 | | | | | | | | | |
| Total shareholders’ equity | | 62,978 | | | 59,471 | | | | | | | | | |
| Total liabilities and shareholders' equity | | $ | 158,380 | | | 157,728 | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 |
|:------------------------------------------------------------------------------------------|:-----------|:------------------------|:-----------|:-------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | |
| | | Fiscal Six Months Ended | | | | | | | | | | | | |
| | | June 28,2020 | | June 30,2019 | | | | | | | | | | |
| CASH FLOWS FROM OPERATING ACTIVITIES | | | | | | | | | | | | | | |
| Net earnings | | $ | 9,422 | | | 9,356 | | | | | | | | |
| Adjustments to reconcile net earnings to cash flows from operating activities: | | | | | | | | | | | | | | |
| Depreciation and amortization of property and intangibles | | 3,473 | | | 3,466 | | | | | | | | | |
| Stock based compensation | | 589 | | | 572 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Asset write-downs | | 33 | | | 989 | | | | | | | | | |
| Contingent consideration reversal | | (983) | | | — | | | | | | | | | |
| Net gain on sale of assets/businesses | | (60) | | | (2,079) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Deferred tax provision | | (428) | | | (694) | | | | | | | | | |
| Credit losses and accounts receivable allowances | | 117 | | | 1 | | | | | | | | | |
| Changes in assets and liabilities, net of effects from acquisitions and divestitures: | | | | | | | | | | | | | | |
| Increase in accounts receivable | | (520) | | | (336) | | | | | | | | | |
| Increase in inventories | | (637) | | | (423) | | | | | | | | | |
| Decrease in accounts payable and accrued liabilities | | (2,319) | | | (444) | | | | | | | | | |
| Increase in other current and non-current assets | | (1,048) | | | (862) | | | | | | | | | |
| Decrease in other current and non-current liabilities | | (829) | | | (55) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| NET CASH FLOWS FROM OPERATING ACTIVITIES | | 6,810 | | | 9,491 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM INVESTING ACTIVITIES | | | | | | | | | | | | | | |
| Additions to property, plant and equipment | | (1,287) | | | (1,493) | | | | | | | | | |
| Proceeds from the disposal of assets/businesses, net | | 87 | | | 3,018 | | | | | | | | | |
| Acquisitions, net of cash acquired | | (949) | | | (5,346) | | | | | | | | | |
| Purchases of investments | | (8,551) | | | (1,517) | | | | | | | | | |
| Sales of investments | | 2,417 | | | 2,132 | | | | | | | | | |
| Proceeds from credit support agreements, net | | 672 | | | — | | | | | | | | | |
| Other (primarily licenses and milestones) | | (492) | | | 1 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| NET CASH USED BY INVESTING ACTIVITIES | | (8,103) | | | (3,205) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM FINANCING ACTIVITIES | | | | | | | | | | | | | | |
| Dividends to shareholders | | (5,164) | | | (4,918) | | | | | | | | | |
| Repurchase of common stock | | (2,417) | | | (4,692) | | | | | | | | | |
| Proceeds from short-term debt | | 2,717 | | | 15 | | | | | | | | | |
| Repayment of short-term debt | | (17) | | | (12) | | | | | | | | | |
| Proceeds from long-term debt, net of issuance costs | | 1 | | | 1 | | | | | | | | | |
| Repayment of long-term debt | | (11) | | | (1,005) | | | | | | | | | |
| Proceeds from the exercise of stock options/employee withholding tax on stock awards, net | | 708 | | | 463 | | | | | | | | | |
| Other | | (489) | | | 98 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| NET CASH USED BY FINANCING ACTIVITIES | | (4,672) | | | (10,050) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Effect of exchange rate changes on cash and cash equivalents | | (166) | | | 33 | | | | | | | | | |
| Decrease in cash and cash equivalents | | (6,131) | | | (3,731) | | | | | | | | | |
| Cash and Cash equivalents, beginning of period | | 17,305 | | | 18,107 | | | | | | | | | |
| CASH AND CASH EQUIVALENTS, END OF PERIOD | | $ | 11,174 | | | 14,376 | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Acquisitions | | | | | | | | | | | | | | |
| Fair value of assets acquired | | $ | 1,173 | | | 6,744 | | | | | | | | |
| Fair value of liabilities assumed and noncontrolling interests | | (224) | | | (1,398) | | | | | | | | | |
| Net cash paid for acquisitions | | $ | 949 | | | 5,346 | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 | Column 22 | Column 23 | Column 24 | Column 25 | Column 26 | Column 27 |
|:-----------------------------------------------|:-----------|:----------------------------|:-----------|:----------------|:-----------|:-------------|:-----------|:----------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Fiscal Second Quarter Ended | | | | | | | | | | | | | | | | | | | | | | | | |
| | | June 28,2020 | | Percentto Sales | | June 30,2019 | | Percentto Sales | | | | | | | | | | | | | | | | | | |
| Sales to customers (Note 9) | | $ | 18,336 | | | 100.0 | % | | $ | 20,562 | | | 100.0 | % | | | | | | | | | | | | |
| Cost of products sold | | 6,579 | | | 35.9 | | | 6,940 | | | 33.8 | | | | | | | | | | | | | | | |
| Gross profit | | 11,757 | | | 64.1 | | | 13,622 | | | 66.2 | | | | | | | | | | | | | | | |
| Selling, marketing and administrative expenses | | 4,993 | | | 27.2 | | | 5,546 | | | 27.0 | | | | | | | | | | | | | | | |
| Research and development expense | | 2,707 | | | 14.8 | | | 2,666 | | | 13.0 | | | | | | | | | | | | | | | |
| In-process research and development | | 6 | | | 0.0 | | | — | | | — | | | | | | | | | | | | | | | |
| Interest income | | (19) | | | (0.1) | | | (88) | | | (0.4) | | | | | | | | | | | | | | | |
| Interest expense, net of portion capitalized | | 45 | | | 0.3 | | | 83 | | | 0.4 | | | | | | | | | | | | | | | |
| Other (income) expense, net | | 24 | | | 0.1 | | | (1,683) | | | (8.2) | | | | | | | | | | | | | | | |
| Restructuring (Note 12) | | 61 | | | 0.3 | | | 57 | | | 0.2 | | | | | | | | | | | | | | | |
| Earnings before provision for taxes on income | | 3,940 | | | 21.5 | | | 7,041 | | | 34.2 | | | | | | | | | | | | | | | |
| Provision for taxes on income (Note 5) | | 314 | | | 1.7 | | | 1,434 | | | 6.9 | | | | | | | | | | | | | | | |
| NET EARNINGS | | $ | 3,626 | | | 19.8 | % | | $ | 5,607 | | | 27.3 | % | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| NET EARNINGS PER SHARE (Note 8) | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | $ | 1.38 | | | | | $ | 2.11 | | | | | | | | | | | | | | | | | |
| Diluted | | $ | 1.36 | | | | | $ | 2.08 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| AVG. SHARES OUTSTANDING | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | 2,632.9 | | | | | 2,652.5 | | | | | | | | | | | | | | | | | | | |
| Diluted | | 2,665.5 | | | | | 2,691.7 | | | | | | | | | | | | | | | | | | | |
---
English News:
Ethicon*, part of the Johnson & Johnson Medical Devices Company**, announced the U.S. Food and Drug Administration (FDA) has granted Breakthrough Device Designation for transbronchial microwave ablation technology using robotic-assisted bronchoscopy, which is currently under development. The Breakthrough Devices Program is a voluntary program for certain medical devices that provide for more effective treatment or diagnosis of life-threatening or irreversibly debilitating diseases or conditions. The goal of the Breakthrough Devices Program is to provide patients and health care providers with timely access to these medical devices by speeding up their development, assessment, and review, while preserving the statutory standards for premarket approval, 510(k) clearance, and De Novo marketing authorization, consistent with the Agency's mission to protect and promote public health. \"Our acquisitions of NeuWave Medical and Auris Health have enabled us to bring two best-in-class platforms together as we work to develop this breakthrough technology,\" said Vladimir Makatsaria, Company Group Chairman of Ethicon, Johnson & Johnson. \"We look forward to working collaboratively with the FDA to help prioritize development and access for patients.\" Ethicon is a global leader in soft tissue microwave ablation and in flexible endoluminal robotics. The NEUWAVE Microwave Ablation System provides a minimally invasive option for soft tissue lesions, with more than 45,000 procedures performed to date. The MONARCH Platform provides improved reach into the periphery of the lung with continuous real-time vision, precision and control. MONARCH was the first robotic-assisted bronchoscopy system introduced in the United States with more than 3,300 procedures performed to date. \"Through our commitment to transform patients' lives, Johnson & Johnson is advancing innovative solutions with a focus on the prevention, interception and cure of some of the world's most complex, life-threatening diseases,\" saidAvrumSpira, M.D., M.Sc., Global Head of the Lung Cancer Initiative at Johnson & Johnson.*** \"This promising convergence oftechnologies offers an exciting opportunity to catalyze new approaches and solutions toimprove patient outcomes, andwelook forward to evaluating this device ina comprehensive clinicaldevelopment program.\" About EthiconEthicon, part of Johnson & Johnson Medical Devices Companies, has made significant contributions to surgery for more than 100 years from creating the first sutures, to revolutionizing surgery with minimally invasive procedures. Our continuing dedication to Shape the Future of Surgery is built on our commitment to help address the world's most pressing health care issues and improve and save more lives. Through Ethicon's surgical technologies and solutions including sutures, staplers, energy devices, trocars and hemostats and our commitment to treat serious medical conditions like obesity worldwide, we deliver innovation to make a life-changing impact. For more information, visitwww.ethicon.com. About Johnson & Johnson Medical Devices CompaniesAt Johnson & Johnson Medical Devices Companies, we are helping people live their best lives. Building on more than a century of expertise, we tackle pressing healthcare challenges, and take bold steps that lead to new standards of care while improving people's healthcare experiences. In surgery, orthopaedics, vision and interventional solutions, we are helping to save lives and paving the way to a healthier future for everyone, everywhere. *Ethicon represents the products and services of Ethicon, Inc., Ethicon Endo-Surgery, LLC and certain of their affiliates. All other trademarks are the property of their respective owners. **The Johnson & Johnson Medical Devices Companies comprise the surgery, orthopedics, vision and interventional solutions businesses within Johnson & Johnson's Medical Devices segment.*** The legal entity of the Lung Cancer Initiative at Johnson & Johnson is Johnson & Johnson Enterprise Innovation, Inc. Notice to Investors Concerning Forward-Looking Statements This press release contains \"forward-looking statements\" as defined in the Private Securities Litigation Reform Act of 1995 regarding NeuWave. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to: challenges and uncertainties inherent in product research and development, including the uncertainty of clinical success and of obtaining regulatory approvals; uncertainty of commercial success; manufacturing difficulties and delays; competition, including technological advances, new products and patents attained by competitors; challenges to patents; product efficacy or safety concerns resulting in product recalls or regulatory action; changes in behavior and spending patterns of purchasers of health care products and services; changes to applicable laws and regulations, including global health care reforms; and trends toward health care cost containment. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended December 29, 2019, including in the sections captioned \"Cautionary Note Regarding Forward-Looking Statements\" and \"Item 1A. Risk Factors,\" and in the company's most recently filed Quarterly Report on Form 10-Q, and the company's subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments. SOURCE Ethicon, Inc.
Chinese News:
强生日前发布的2020年半年财务报告显示：今年上半年其全球营收为390.27亿美元，同比下降3.8%，其中医疗器械业务营收102.2亿美元，同比下降21.1%。有强生高管表示，新冠肺炎疫情发生后，大家减少外出所以受伤几率变小，创伤性手术也因此大幅减少。半年报显示，强生医疗器械板块四大业务均下滑，其中介入解决方案业务营收13.17亿美元，同比下降11.2%；骨科业务营收34.89亿美元，同比下降21.2%；外科手术业务营收36.51亿美元，同比下降23.1%；视力保健业务营收17.62亿美元，同比下降23%。
Japanese News:
米ジョンソン・エンド・ジョンソン（J&J）と同業のアボット・ラボラトリーズは、新型コロナウイルス感染拡大が続く中でも、医療機器分野の最も厳しい時期は既に過ぎつつあるとの認識を示した。 両社が発表した4～6月期（第2四半期）の業績は、慎重だった市場の事前予測を上回った。J&Jは今年の通期調整後利益予想を引き上げ、一方のアボットは、3カ月前に一旦取り下げていた通期の業績見通しを改めて示した。感染拡大初期には医療機関で緊急性の低い手術の延期や中止が相次ぎ、医療機器の販売が大きく落ち込んだが、現在はこうした状況が徐々に改善してきているという。 エドワード・ジョーンズ証券のアナリストであるアシュティン・エバンス氏は、「新型コロナの影響は4～6月期にピークを迎えた可能性が高い」と指摘した。 特にアボットは、新型コロナの検査キットや関連製品をいち早く市場投入したことで業績が伸び、4～6月期には検査関連だけで6億1500万ドル（約660億円）の売上を記録した。全体の純売上高は73億3000万ドル、調整後1株当たり利益は継続事業ベースで57セントとなり、それぞれ市場予想を上回った。また、通年の調整後1株利益については、少なくとも3.25ドルに達するとの見通しを示した。同社幹部は、米政権と連携しながら、サプライチェーンを強化し、医薬品供給への関税の影響を最小限に抑えるべきだと強調した。 一方、J&Jは2025年通期の売上高予想を従来の909億～917億ドルから916億～924億ドルへと、約7億ドル引き上げた。この背景には、新たに統合失調症や双極性うつ病の治療薬「カプリタ」の販売開始や、抗うつ薬「スプラバト」の年間売上が2028年までに30億～35億ドルに達する見通しなどが影響している。 また、通期の調整後1株利益予想を10.50～10.70ドルと設定。これは市場予想平均の10.43ドル（LSEGのデータに基づく）を大きく上回る数値だ。 第1四半期の業績を見ると、売上高は前年同期比2.4％増の218億9000万ドルとなり、調整後の1株利益も2.77ドルを記録。いずれもアナリストの予想（売上高215億6000万ドル、1株利益2.59ドル）を超えた。 J&Jの医薬品部門は売上高が市場予想を超え堅調だったものの、医療機器部門の売上高は前年同期比で増加したにもかかわらず、市場予測に届かなかった。
Spanish News:
El grupo estadounidense de productos farmacéuticos Johnson & Johnson ganó US$9.422 millones durante el primer semestre de 2020, en plena pandemia por el covid-19, un 0,7 % más que en el mismo periodo del año anterior. La compañía informó que entre enero y junio, el conglomerado especializado en la venta de productos de belleza y farmacéuticos facturó US$39.027 millones, un 3,8% menos que en el mismo intervalo del año pasado. Entre abril y junio, Johnson & Johnson ganó US$3.626 millones, 35% menos que en el mismo periodo de 2019; mientras que las ventas cayeron 10,8% interanual, hasta US$18.336 millones. Los analistas achacan la bajada del beneficio netos en el último trimestre a los efectos colaterales del covid-19, que ha obligado a muchos hospitales a posponer cirugías y tratamientos, lo que ha afectado gravemente a sus líneas de negocio. J&J ha revelado hoy que están intentando llegar a un acuerdo con los Institutos Nacionales de Salud para que les permita adelantar la última fase del ensayo de la vacuna, que tenían planeado llevar a cabo en septiembre. Asimismo, la compañía dijo que espera comenzar pruebas preliminares con 1.000 personas la próxima semana. Por sectores de negocio, el principal siguen siendo los productos farmacéuticos, que aumentaron un 2,1 % sus ventas, hasta los US$10.752 millones. La unidad de consumidores de la compañía, que fabrica por ejemplo productos de higiene bucal, generó US$3.296 millones en ingresos, 7% menos que el año previo. En general, la disminución en las ventas de dispositivos médicos fue parcialmente compensada por mayores ventas de otros productos de venta libre como el Tylenol o Listerine. En una jornada que se prevé bajista, los datos no despertaron gran interés en los inversores y, diez minutos antes del arranque de la sesión bursátil, los títulos de Johnson & Johnson avanzaban 0,2% en Wall Street. En lo que va de año, la farmacéutica se ha revalorizado 1,64%.
Greek News:
Η Johnson & Johnson ανακοίνωσε την εξαγορά της Momenta Pharmaceuticals έναντι 6,5 δισεκατομμυρίων δολαρίων, μέσω προσφοράς εξαγοράς με μετρητά ύψους 52,50 δολαρίων ανά μετοχή. Η συμφωνία αυτή ενισχύει τη θέση της εταιρείας στον τομέα των αυτοάνοσων νοσημάτων, καθώς αποκτά πρόσβαση στο πειραματικό φάρμακο nipocalimab, το οποίο στοχεύει παθήσεις που σχετίζονται με την παρουσία αυτοαντισωμάτων. Παράλληλα, η εξαγορά επεκτείνει την παρουσία της J&J στο κέντρο καινοτομίας του Cambridge, Massachussets. Παράλληλα, η Ευρωπαϊκή Επιτροπή ανακοίνωσε την ολοκλήρωση προκαταρκτικών συνομιλιών με την Johnson & Johnson για την προμήθεια πιθανού εμβολίου για την αντιμετώπιση του COVID-19. Η συμφωνία αυτή προβλέπει την δυνατότητα αγοράς ή δωρεάς 200 εκατομμυρίων δόσεων από τα κράτη μέλη της ΕΕ με προοπτική για επιπλέον 200 εκατομμύρια. Η Κομισιόν συνεχίζει τις διαπραγματεύσεις και με άλλες φαρμακευτικές εταιρίας στο πλαίσιο της ευρωπαϊκής στρατηγικής για την αντιμετώπιση της πανδημίας. Αντίστοιχα, στις Ηνωμένες Πολιτείες, η κυβέρνηση έχει δεσμεύσει συνολικά τουλάχιστον $ 9,4 δισεκατομμύρια για την ανάπτυξη και προμήθεια εμβολίων, με την Johnson & Johnson να λαμβάνει χρηματοδότηση 1 δισεκατομμυρίου για την παραγωγή 100 εκατομμυρίων δόσεων. Η συμφωνία περιλαμβάνει και δυνατότητα επέκτασης για επιπλέον 200 εκατομμύρια δόσεις. Συνολικά, έχουν συναφθεί συμφωνίες με πέντε εταιρείες για περισσότερες από 700 εκατομμύρια δόσεις, υπό την προϋπόθεση της αποτελεσματικότητάς τους.
Question:
What are the company's capital expenditures and their strategic significance from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | What are the company's capital expenditures and their strategic significance from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Johnson & Johnson’s capital expenditures were $1.3B for the first six months of 2020. Strategically, these expenditures support innovation platforms like the MONARCH robotic system and NEUWAVE microwave ablation (English news), reinforcing J&J’s leadership in surgical technology and cancer treatment solutions.
Financial Statement Evidence:
Additions to property, plant and equipment: $1,287M |
JNJ_20201023 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 |
|:-----------------------------------------------------------------------------------------------------|:-----------|:-------------------|:-----------|:------------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | |
| | | September 27, 2020 | | December 29, 2019 | | | | | | | | | | |
| ASSETS | | | | | | | | | | | | | | |
| Current assets: | | | | | | | | | | | | | | |
| Cash and cash equivalents | | $ | 18,965 | | | 17,305 | | | | | | | | |
| Marketable securities | | 11,816 | | | 1,982 | | | | | | | | | |
| Accounts receivable, trade, less allowances for doubtful accounts and credit losses $292(2019, $226) | | 14,579 | | | 14,481 | | | | | | | | | |
| Inventories (Note 2) | | 9,599 | | | 9,020 | | | | | | | | | |
| Prepaid expenses and other | | 2,528 | | | 2,392 | | | | | | | | | |
| Assets held for sale (Note 10) | | 91 | | | 94 | | | | | | | | | |
| Total current assets | | 57,578 | | | 45,274 | | | | | | | | | |
| Property, plant and equipment at cost | | 45,162 | | | 43,332 | | | | | | | | | |
| Less: accumulated depreciation | | (27,307) | | | (25,674) | | | | | | | | | |
| Property, plant and equipment, net | | 17,855 | | | 17,658 | | | | | | | | | |
| Intangible assets, net (Note 3) | | 47,006 | | | 47,643 | | | | | | | | | |
| Goodwill (Note 3) | | 34,307 | | | 33,639 | | | | | | | | | |
| Deferred taxes on income (Note 5) | | 7,816 | | | 7,819 | | | | | | | | | |
| Other assets | | 6,131 | | | 5,695 | | | | | | | | | |
| Total assets | | $ | 170,693 | | | 157,728 | | | | | | | | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | | | | | | | | |
| Current liabilities: | | | | | | | | | | | | | | |
| Loans and notes payable | | $ | 5,078 | | | 1,202 | | | | | | | | |
| Accounts payable | | 7,044 | | | 8,544 | | | | | | | | | |
| Accrued liabilities | | 9,629 | | | 9,715 | | | | | | | | | |
| Accrued rebates, returns and promotions | | 12,418 | | | 10,883 | | | | | | | | | |
| Accrued compensation and employee related obligations | | 3,012 | | | 3,354 | | | | | | | | | |
| Accrued taxes on income (Note 5) | | 1,666 | | | 2,266 | | | | | | | | | |
| Total current liabilities | | 38,847 | | | 35,964 | | | | | | | | | |
| Long-term debt (Note 4) | | 32,680 | | | 26,494 | | | | | | | | | |
| Deferred taxes on income(Note 5) | | 5,615 | | | 5,958 | | | | | | | | | |
| Employee related obligations (Note 6) | | 10,184 | | | 10,663 | | | | | | | | | |
| Long-term taxes payable (Note 5) | | 6,745 | | | 7,444 | | | | | | | | | |
| Other liabilities | | 12,149 | | | 11,734 | | | | | | | | | |
| Total liabilities | | 106,220 | | | 98,257 | | | | | | | | | |
| Commitments and Contingencies (Note 11) | | | | | | | | | | | | | | |
| Shareholders’ equity: | | | | | | | | | | | | | | |
| Common stock — par value $1.00per share (authorized4,320,000,000shares; issued3,119,843,000shares) | | $ | 3,120 | | | 3,120 | | | | | | | | |
| Accumulated other comprehensive income (loss) (Note 7) | | (14,938) | | | (15,891) | | | | | | | | | |
| Retained earnings | | 114,831 | | | 110,659 | | | | | | | | | |
| Less: common stock held in treasury, at cost (487,676,000and487,336,000shares) | | 38,540 | | | 38,417 | | | | | | | | | |
| Total shareholders’ equity | | 64,473 | | | 59,471 | | | | | | | | | |
| Total liabilities and shareholders' equity | | $ | 170,693 | | | 157,728 | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 |
|:------------------------------------------------------------------------------------------|:-----------|:-------------------------|:-----------|:------------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | |
| | | Fiscal Nine Months Ended | | | | | | | | | | | | |
| | | September 27,2020 | | September 29,2019 | | | | | | | | | | |
| CASH FLOWS FROM OPERATING ACTIVITIES | | | | | | | | | | | | | | |
| Net earnings | | $ | 12,976 | | | 11,109 | | | | | | | | |
| Adjustments to reconcile net earnings to cash flows from operating activities: | | | | | | | | | | | | | | |
| Depreciation and amortization of property and intangibles | | 5,291 | | | 5,193 | | | | | | | | | |
| Stock based compensation | | 845 | | | 817 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Asset write-downs | | 198 | | | 1,019 | | | | | | | | | |
| Contingent consideration reversal | | (1,148) | | | — | | | | | | | | | |
| Net gain on sale of assets/businesses | | (60) | | | (2,125) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Deferred tax provision | | (238) | | | (2,126) | | | | | | | | | |
| Credit losses and accounts receivable allowances | | 74 | | | (15) | | | | | | | | | |
| Changes in assets and liabilities, net of effects from acquisitions and divestitures: | | | | | | | | | | | | | | |
| Increase in accounts receivable | | (440) | | | (665) | | | | | | | | | |
| Increase in inventories | | (784) | | | (424) | | | | | | | | | |
| (Decrease)/Increase in accounts payable and accrued liabilities | | (119) | | | 2,273 | | | | | | | | | |
| Increase in other current and non-current assets | | (1,983) | | | (81) | | | | | | | | | |
| Increase in other current and non-current liabilities | | 581 | | | 2,043 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| NET CASH FLOWS FROM OPERATING ACTIVITIES | | 15,193 | | | 17,018 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM INVESTING ACTIVITIES | | | | | | | | | | | | | | |
| Additions to property, plant and equipment | | (2,024) | | | (2,238) | | | | | | | | | |
| Proceeds from the disposal of assets/businesses, net | | 100 | | | 3,103 | | | | | | | | | |
| Acquisitions, net of cash acquired | | (949) | | | (5,562) | | | | | | | | | |
| Purchases of investments | | (16,243) | | | (2,684) | | | | | | | | | |
| Sales of investments | | 6,585 | | | 2,459 | | | | | | | | | |
| Proceeds from credit support agreements, net | | 125 | | | — | | | | | | | | | |
| Other (primarily licenses and milestones) | | (516) | | | 72 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| NET CASH USED BY INVESTING ACTIVITIES | | (12,922) | | | (4,850) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM FINANCING ACTIVITIES | | | | | | | | | | | | | | |
| Dividends to shareholders | | (7,823) | | | (7,417) | | | | | | | | | |
| Repurchase of common stock | | (2,900) | | | (6,320) | | | | | | | | | |
| Proceeds from short-term debt | | 3,335 | | | 148 | | | | | | | | | |
| Repayment of short-term debt | | (310) | | | (87) | | | | | | | | | |
| Proceeds from long-term debt, net of issuance costs | | 7,431 | | | 1 | | | | | | | | | |
| Repayment of long-term debt | | (562) | | | (1,008) | | | | | | | | | |
| Proceeds from the exercise of stock options/employee withholding tax on stock awards, net | | 922 | | | 580 | | | | | | | | | |
| Other | | (569) | | | 160 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| NET CASH USED BY FINANCING ACTIVITIES | | (476) | | | (13,943) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Effect of exchange rate changes on cash and cash equivalents | | (135) | | | (83) | | | | | | | | | |
| Increase/(Decrease) in cash and cash equivalents | | 1,660 | | | (1,858) | | | | | | | | | |
| Cash and Cash equivalents, beginning of period | | 17,305 | | | 18,107 | | | | | | | | | |
| CASH AND CASH EQUIVALENTS, END OF PERIOD | | $ | 18,965 | | | 16,249 | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Acquisitions | | | | | | | | | | | | | | |
| Fair value of assets acquired | | $ | 1,173 | | | 6,861 | | | | | | | | |
| Fair value of liabilities assumed and noncontrolling interests | | (224) | | | (1,299) | | | | | | | | | |
| Net cash paid for acquisitions | | $ | 949 | | | 5,562 | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 | Column 22 | Column 23 | Column 24 | Column 25 | Column 26 | Column 27 |
|:------------------------------------------------------|:-----------|:---------------------------|:-----------|:----------------|:-----------|:------------------|:-----------|:----------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Fiscal Third Quarter Ended | | | | | | | | | | | | | | | | | | | | | | | | |
| | | September 27,2020 | | Percentto Sales | | September 29,2019 | | Percentto Sales | | | | | | | | | | | | | | | | | | |
| Sales to customers (Note 9) | | $ | 21,082 | | | 100.0 | % | | $ | 20,729 | | | 100.0 | % | | | | | | | | | | | | |
| Cost of products sold | | 6,972 | | | 33.1 | | | 6,867 | | | 33.1 | | | | | | | | | | | | | | | |
| Gross profit | | 14,110 | | | 66.9 | | | 13,862 | | | 66.9 | | | | | | | | | | | | | | | |
| Selling, marketing and administrative expenses | | 5,431 | | | 25.8 | | | 5,374 | | | 26.0 | | | | | | | | | | | | | | | |
| Research and development expense | | 2,840 | | | 13.5 | | | 2,599 | | | 12.5 | | | | | | | | | | | | | | | |
| In-process research and development | | 138 | | | 0.6 | | | — | | | — | | | | | | | | | | | | | | | |
| Interest income | | (12) | | | (0.1) | | | (89) | | | (0.4) | | | | | | | | | | | | | | | |
| Interest expense, net of portion capitalized | | 44 | | | 0.2 | | | 48 | | | 0.2 | | | | | | | | | | | | | | | |
| Other (income) expense, net | | 1,200 | | | 5.7 | | | 4,214 | | | 20.3 | | | | | | | | | | | | | | | |
| Restructuring (Note 12) | | 68 | | | 0.3 | | | 69 | | | 0.4 | | | | | | | | | | | | | | | |
| Earnings before provision for taxes on income | | 4,401 | | | 20.9 | | | 1,647 | | | 7.9 | | | | | | | | | | | | | | | |
| Provision for (benefit from) taxes on income (Note 5) | | 847 | | | 4.0 | | | (106) | | | (0.6) | | | | | | | | | | | | | | | |
| NET EARNINGS | | $ | 3,554 | | | 16.9 | % | | $ | 1,753 | | | 8.5 | % | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| NET EARNINGS PER SHARE (Note 8) | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | $ | 1.35 | | | | | $ | 0.67 | | | | | | | | | | | | | | | | | |
| Diluted | | $ | 1.33 | | | | | $ | 0.66 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| AVG. SHARES OUTSTANDING | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | 2,632.5 | | | | | 2,635.2 | | | | | | | | | | | | | | | | | | | |
| Diluted | | 2,669.3 | | | | | 2,669.9 | | | | | | | | | | | | | | | | | | | |
---
English News:
The Janssen Pharmaceutical Companies of Johnson & Johnson announcedtoday it has submitted a supplemental New Drug Application (sNDA) to the U.S. Food and Drug Administration (FDA) for a new indication to expand the use of XARELTO (rivaroxaban) in patients with peripheral artery disease (PAD). If approved, this new indication for the XARELTO vascular dose (2.5 mg twice daily plus aspirin 75-100 mg once daily) would include reducing the risk of major thrombotic vascular events such as heart attack, stroke and amputation in patients after recent lower-extremity revascularization, a common procedure in which blood flow is restored to the legs and feet due to symptomatic PAD. The application is based on data from the VOYAGER PAD study, which showed XARELTO (2.5 mg twice daily) plus aspirin (100 mg once daily) was superior to aspirin alone in reducing the risk of major cardiovascular (CV) and limb events, with similar rates of Thrombolysis In Myocardial Infarction (TIMI) major bleeding. CLICK TO TWEET: @JanssenUS announces sNDA submission to @US_FDA in #peripheralarterydisease #PAD. Learn more: https://bit.ly/3koBvL3. \"Various antithrombotic regimens have been evaluated for short- and long-term prevention of major vascular events in patients with PAD, but only rivaroxaban in combination with aspirin has demonstrated a significant benefit over aspirin alone,\" said James List, M.D., Ph.D., Global Therapeutic Area Head, Cardiovascular & Metabolism, Janssen Research & Development, LLC. \"Data from the VOYAGER PAD trial were the first in 20 years to show clinical benefit with an antithrombotic therapy in the symptomatic PAD population after lower-extremity revascularization, which speaks to the need for a new treatment in this space. We look forward to discussing these data with the FDA.\" Janssen and its development partner Bayer have conducted two major Phase 3 trials, VOYAGER PAD and COMPASS, that evaluated the use of dual antithrombotic pathway inhibition with XARELTO plus aspirin in patients with PAD. XARELTO, in combination with aspirin, was approved by the FDA in 2018 to reduce the risk of major CV events in patients with chronic PAD and coronary artery disease (CAD) the only direct oral anticoagulant (DOAC) approved for use in these populations. PAD is a serious underlying health crisis that impacts an estimated 20 million Americans, with only 8.5 million diagnosed.i,ii PAD also increases the risk for major CV events and is the leading cause of amputation,iii which can double a patient's risk of death.iv About VOYAGER PADThe Phase 3 VOYAGER PAD study included 6,564 patients from 542 sites across 34 countries worldwide. Patients were randomized in a 1:1 ratio and received either XARELTO(2.5 mg twice daily) plus aspirin (100 mg once daily) (n=3,286) or aspirin alone (100 mg once daily) (n=3,278). Patients were stratified by revascularization procedure type (endovascular vs. surgical) and use of clopidogrel, which was limited and administered based on the treating physician's discretion. Patients were followed for a median duration of 28 months. The primary efficacy endpoint was a composite of major adverse limb and CV events, including acute limb ischemia, major amputation for vascular causes, heart attack (myocardial infarction), ischemic stroke, or death from CV causes. The principal safety endpoint was major bleeding according to the TIMI classification. Eligible patients were at least 50 years old and had documented symptomatic lower-extremity PAD. Patients were eligible after a successful revascularization for symptomatic PAD within the last 10 days. Approximately two-thirds were treated with an endovascular procedure (65%) and one-third treated surgically (35%). Patients were excluded if they were clinically unstable, at heightened bleeding risk, or needed prohibited concomitant medications, including long-term clopidogrel. The median age was 67 years and 26% were women. Common risk factors for PAD included diabetes, an estimated glomerular filtration rate less than 60 mL/min/1.73 m2 (indicating mild-to-moderate kidney disease) and current smokers. WHAT IS XARELTO(rivaroxaban)? XARELTOis a prescription medicine used to: reduce the risk of stroke and blood clots in people who have a medical condition called atrial fibrillation that is not caused by a heart valve problem. With atrial fibrillation, part of the heart does not beat the way it should. This can lead to the formation of blood clots, which can travel to the brain, causing a stroke, or to other parts of the body treat blood clots in the veins of your legs (deep vein thrombosis or DVT) or lungs (pulmonary embolism or PE) reduce the risk of blood clots happening again in people who continue to be at risk for DVT or PE after receiving treatment for blood clots for at least 6 months help prevent a blood clot in the legs and lungs of people who have just had hip or knee replacement surgery help prevent blood clots in certain people hospitalized for an acute illness and after discharge, who are at risk of getting blood clots because of the loss of or decreased ability to move around (mobility) and other risks for getting blood clots, and who do not have a high risk of bleeding XARELTO is used with low dose aspirin to: reduce the risk of serious heart problems, heart attack and stroke in people with coronary artery disease (a condition where the blood supply to the heart is reduced or blocked) or peripheral artery disease (a condition where the blood flow to the legs is reduced) It is not known if XARELTOis safe and effective in children. IMPORTANT SAFETY INFORMATION WHAT IS THE MOST IMPORTANT INFORMATION I SHOULD KNOW ABOUT XARELTO? XARELTO may cause serious side effects, including: Increased risk of blood clots if you stop taking XARELTO. People with atrial fibrillation (an irregular heart beat) that is not caused by a heart valve problem (nonvalvular) are at an increased risk of forming a blood clot in the heart, which can travel to the brain, causing a stroke, or to other parts of the body. XARELTO lowers your chance of having a stroke by helping to prevent clots from forming. If you stop taking XARELTO, you may have increased risk of forming a clot in your blood.Do not stop taking XARELTOwithout talking to the doctor who prescribes it for you. Stopping XARELTOincreases your risk of having a stroke.If you have to stop taking XARELTO, your doctor may prescribe another blood thinner medicine to prevent a blood clot from forming. Increased risk of bleeding. XARELTO can cause bleeding which can be serious, and may lead to death. This is because XARELTO is a blood thinner medicine (anticoagulant) that lowers blood clotting. During treatment with XARELTO you are likely to bruise more easily, and it may take longer for bleeding to stop. You may be at higher risk of bleeding if you take XARELTO and have certain other medical problems.You may have a higher risk of bleeding if you take XARELTO and take other medicines that increase your risk of bleeding, including: Aspirin or aspirin-containing products Long-term (chronic) use of non-steroidal anti-inflammatory drugs (NSAIDs) Warfarin sodium (Coumadin, Jantoven) Any medicine that contains heparin Clopidogrel (Plavix) Selective serotonin reuptake inhibitors (SSRIs) or serotonin norepinephrine reuptake inhibitors (SNRIs) Other medicines to prevent or treat blood clots Tell your doctor if you take any of these medicines. Ask your doctor or pharmacist if you are not sure if your medicine is one listed above. Call your doctor or get medical help right away if you develop any of these signs or symptoms of bleeding: Unexpected bleeding or bleeding that lasts a long time, such as: Nosebleeds that happen often Unusual bleeding from gums Menstrual bleeding that is heavier than normal, or vaginal bleeding Bleeding that is severe or you cannot control Red, pink, or brown urine Bright red or black stools (looks like tar) Cough up blood or blood clots Vomit blood or your vomit looks like \"coffee grounds\" Headaches, feeling dizzy or weak Pain, swelling, or new drainage at wound sites Spinal or epidural blood clots (hematoma). People who take a blood thinner medicine (anticoagulant) like XARELTO, and have medicine injected into their spinal and epidural area, or have a spinal puncture, have a risk of forming a blood clot that can cause long-term or permanent loss of the ability to move (paralysis). Your risk of developing a spinal or epidural blood clot is higher if: A thin tube called an epidural catheter is placed in your back to give you certain medicine You take NSAIDs or a medicine to prevent blood from clotting You have a history of difficult or repeated epidural or spinal punctures You have a history of problems with your spine or have had surgery on your spine If you take XARELTO and receive spinal anesthesia or have a spinal puncture, your doctor should watch you closely for symptoms of spinal or epidural blood clots. Tell your doctor right away if you have back pain, tingling, numbness, muscle weakness (especially in your legs and feet), or loss of control of the bowels or bladder (incontinence). XARELTO is not for use in people with artificial heart valves. XARELTO is not for use in people with antiphospholipid syndrome (APS), especially with positive triple antibody testing. Do not take XARELTO if you: Currently have certain types of abnormal bleeding. Talk to your doctor before taking XARELTO if you currently have unusual bleeding. Are allergic to rivaroxaban or any of the ingredients of XARELTO. Before taking XARELTO, tell your doctor about all your medical conditions, including if you: Have ever had bleeding problems Have liver or kidney problems Have antiphospholipid syndrome (APS) Are pregnant or plan to become pregnant. It is not known if XARELTO will harm your unborn baby. Tell your doctor right away if you become pregnant during treatment with XARELTO. Taking XARELTO while you are pregnant may increase the risk of bleeding in you or in your unborn baby. If you take XARELTO during pregnancy, tell your doctor right away if you have any signs or symptoms of bleeding or blood loss. See \"What is the most important information I should know about XARELTO?\" for signs and symptoms of bleeding. Are breastfeeding or plan to breastfeed. XARELTO may pass into your breast milk. Talk to your doctor about the best way to feed your baby during treatment with XARELTO. Tell all of your doctors and dentists that you are taking XARELTO. They should talk to the doctor who prescribed XARELTO for you before you have any surgery, medical or dental procedure. Tell your doctor about all the medicines you take, including prescription and over-the-counter medicines, vitamins, and herbal supplements. Some of your other medicines may affect the way XARELTO works, causing side effects. Certain medicines may increase your risk of bleeding. See \"What is the most important information I should know about XARELTO?\" HOW SHOULD I TAKE XARELTO? Take XARELTO exactly as prescribed by your doctor. Do not change your dose or stop taking XARELTO unless your doctor tells you to. Your doctor may change your dose if needed. Your doctor will decide how long you should take XARELTO. XARELTO may need to be stopped for one or more days before any surgery or medical or dental procedure. Your doctor will tell you when to stop taking XARELTO and when to start taking XARELTO again after your surgery or procedure. If you need to stop taking XARELTO for any reason, talk to the doctor who prescribed XARELTO to you to find out when you should stop taking it. Do not stop taking XARELTO without first talking to the doctor who prescribes it to you. If you have difficulty swallowing XARELTO tablets whole, talk to your doctor about other ways to take XARELTO. Do not run out of XARELTO. Refill your prescription of XARELTO before you run out. When leaving the hospital following a hip or knee replacement, be sure that you will have XARELTO available to avoid missing any doses. If you take too much XARELTO, go to the nearest hospital emergency room or call your doctor right away. If you take XARELTO for: Atrial Fibrillation that is not caused by a heart valve problem: Take XARELTO 1 time a day with your evening meal. If you miss a dose of XARELTO, take it as soon as you remember on the same day. Take your next dose at your regularly scheduled time. Blood clots in the veins of your legs or lungs: Take XARELTO 1 or 2 times a day as prescribed by your doctor. For the 10-mg dose, XARELTO may be taken with or without food. For the 15-mg and 20-mg doses, take XARELTO with food at the same time each day. If you miss a dose: If you take the 15-mg dose of XARELTO 2 times a day (a total of 30 mg of XARELTO in 1 day): Take XARELTO as soon as you remember on the same day. You may take 2 doses at the same time to make up for the missed dose. Take your next dose at your regularly scheduled time. If you take XARELTO 1 time a day: Take XARELTO as soon as you remember on the same day. Take your next dose at your regularly scheduled time. Hip or knee replacement surgery: Take XARELTO 1 time a day with or without food. If you miss a dose of XARELTO, take it as soon as you remember on the same day. Take your next dose at your regularly scheduled time. Blood clots in people hospitalized for an acute illness: Take XARELTO 1 time a day, with or without food, while you are in the hospital and after you are discharged as prescribed by your doctor. If you miss a dose of XARELTO, take it as soon as you remember on the same day. Take your next dose at your regularly scheduled time. Reducing the risk of serious heart problems, heart attack and stroke in coronary artery disease or peripheral artery disease: Take XARELTO 2.5 mg 2 times a day with or without food. If you miss a dose of XARELTO, take your next dose at your regularly scheduled time. Take aspirin 75 to 100 mg once daily as instructed by your doctor. WHAT ARE THE POSSIBLE SIDE EFFECTS OF XARELTO? XARELTO may cause serious side effects: See \"What is the most important information I should know about XARELTO?\" The most common side effect of XARELTOwas bleeding. Call your doctor for medical advice about side effects. You may report side effects to the FDA at 1-800-FDA-1088. You may also report side effects to Janssen Pharmaceuticals, Inc., at 1-800-JANSSEN (1-800-526-7736). Please read full Prescribing Information, including Boxed Warnings, and Medication Guidefor XARELTO. Trademarks are those of their respective owners. Janssen and Bayer together are developing rivaroxaban. About Janssen Cardiovascular & Metabolism In Cardiovascular & Metabolism (CVM), we take on the most pervasive diseases that burden hundreds of millions of people and healthcare systems around the world. As part of this long-standing commitment and propelled by our successes in treating type 2 diabetes and thrombosis, we advance highly differentiated therapies that prevent and treat life-threatening cardiovascular, metabolic and retinal diseases. Uncovering new therapies that can improve the quality of life for this large segment of the population is an important endeavor one which Janssen CVM will continue to lead in the years to come. Our mission is global, local and personal. Together, we can reshape the future of cardiovascular, metabolic and retinal disease prevention and treatment. Please visit www.janssen.com/cardiovascular-and-metabolism. About the Janssen Pharmaceutical Companies of Johnson & JohnsonAt Janssen, we're creating a future where disease is a thing of the past. We're the Pharmaceutical Companies of Johnson & Johnson, working tirelessly to make that future a reality for patients everywhere by fighting sickness with science, improving access with ingenuity, and healing hopelessness with heart. We focus on areas of medicine where we can make the biggest difference: Cardiovascular & Metabolism, Immunology, Infectious Diseases & Vaccines, Neuroscience, Oncology, and Pulmonary Hypertension. Learn more at www.janssen.com. Follow us at www.twitter.com/JanssenUSand https://twitter.com/JanssenGlobal. Janssen Research & Development, LLC, is one of the Janssen Pharmaceutical Companies of Johnson & Johnson. Cautions Concerning Forward-Looking Statements This press release contains \"forward-looking statements\" as defined in the Private Securities Litigation Reform Act of 1995 regarding rivaroxaban. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Janssen Research & Development, LLC, any of the other Janssen Pharmaceutical Companies and/or Johnson & Johnson. Risks and uncertainties include, but are not limited to: challenges and uncertainties inherent in product research and development, including the uncertainty of clinical success and of obtaining regulatory approvals; uncertainty of commercial success; manufacturing difficulties and delays; competition, including technological advances, new products and patents attained by competitors; challenges to patents; product efficacy or safety concerns resulting in product recalls or regulatory action; changes in behavior and spending patterns of purchasers of health care products and services; changes to applicable laws and regulations, including global health care reforms; and trends toward health care cost containment. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended December 29, 2019, including in the sections captioned \"Cautionary Note Regarding Forward-Looking Statements\" and \"Item 1A. Risk Factors,\" and in the company's most recently filed Quarterly Report on Form 10-Q, and the company's subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.comor on request from Johnson & Johnson. None of the Janssen Pharmaceutical Companies nor Johnson & Johnson undertakes to update any forward-looking statement as a result of new information or future events or developments. iRacial Disparities in Vascular Care. (n.d.). Retrieved October 2, 2020, from https://cardiovascularcoalition.com/our-patients/racial-disparities-in-vascular-care/ iiCenters for Disease Control and Prevention. Peripheral Arterial Disease Fact Sheet/Data & Statistics. Retrieved March 20, 2020 from: https://www.cdc.gov/heartdisease/pad.htm. iiiNorgren L, Hiatt WR, Dormandy JA, Hirsch AT, et al. The next 10 years in the management of peripheral artery disease: perspectives from the 'PAD 2009' Conference. Eur Vasc Endovasc Surg. 2010;40(3):375-380.ivJones WS, Patel MR, Dai D, et al. High mortality risks after major lower extremity amputation in Medicare patients with peripheral artery disease. Am Heart J. 2013;165(5):809-815. Mediacontacts: Joy-Lee PasqualoniMobile: (917) 547-8078[emailprotected] Jennifer SilventMobile: (973) 479-9845[emailprotected] Investorcontacts:Johnson & JohnsonChristopher DelOreficeOffice: (732) 524-2955 Jennifer McIntyreOffice: (732) 524-3922 SOURCE Janssen Pharmaceutical Companies of Johnson & Johnson
Chinese News:
全球新冠疫苗昨夜传出三大利好。福奇称2021年初之后的几个月疫苗能广泛使用；阿斯利康在全球范围内恢复新冠疫苗实验室试验；强生预计将于周一或周二重启疫苗试验。而海外疫情形势依然十分严峻，世卫组织称全球疫情正处于紧要关头，太多国家的病例数量呈指数级增长。美国累计确诊病例已经超过846万，单日确诊数也即将逼近最高纪录，而特朗普却被爆出已经几个月没有参加白宫新冠工作组的会议。比尔盖茨也警示称，即使一年后，世界仍不会恢复正常。疫情和刺激计划僵局的影响下，美股昨夜涨跌不一，结束周线三连涨走势。福奇：2021年初之后的几个月疫苗能广泛使用美国新冠病例激增，特朗普却缺席白宫新冠工作组会议很久昨夜，美国新冠疫苗时间表又传来好消息。美国国家过敏症和传染病研究所所长福奇表示，预计疫苗将在2021年初之后的几个月广泛使用。此前，当地时间本月14日，福奇称普通美国人要到2021年4月才有可能接种新冠疫苗。福奇称，新冠疫苗看起来很有希望。但福奇还表示，对当前的新冠肺炎感染率表示担忧，担心美国新冠病例激增。近日，福奇在接受采访时还提到，“随着人们进入低温的秋月和寒冷的冬月，如果情形不能逆转和变化，就会面临前所未遇的真正更为严重的一些问题。我们真的想躲得过去。”据约翰斯·霍普金斯大学数据，10月22日美国单日新增确诊病例76195例，已逼近7月16日单日新增病例77299例的最高纪录。截至美国东部时间10月23日17时(北京时间24日5时)，美国新冠肺炎确诊病例数超过846万例，达8468802例，死亡病例为223730例。而在单日确诊即将逼近最高纪录的关键时刻，白宫新冠工作组的会议却要减少到每周一次，福奇还表示，特朗普已经几个月没有参加工作组会议了。阿斯利康恢复新冠疫苗实验室试验 强生也快了美东时间本周五，阿斯利康方面表示：阿斯利康和牛津大学共同合作的新冠肺炎疫苗AZD1222实验室试验，在美国、英国、巴西、南非和日本监管机构确认安全的情况下已经恢复进行。美国食品药品监管局审查了全球试验的所有安全数据，授权恢复三期试验。据悉，美国食品药品管理局(FDA)已经结束了对两例候选疫苗可能引起神经系统副作用的调查，并于周五下午告知阿斯利康，该公司可以继续其新冠病毒候选疫苗在美国的试验。FDA得出结论认为，疫苗不是引起神经系统副作用的原因，尽管也不能排除联系。消息发布后，阿斯利康股价短线拉升，一度上涨0.84%，收盘微涨0.08%。据英国金融时报，疫苗协议令阿斯利康可以获得超过成本20%的利润。本月21日，多家外媒报道，巴西国家卫生监督局称，一名参加牛津与阿斯利康(AZN.US)合作研发新冠疫苗临床试验的28岁巴西志愿者死亡，但依然允许试验继续进行。值得注意的是，彭博社10月21日援引一位知情人士的消息称，这名死亡的志愿者没有注射疫苗。对此，阿斯利康中国方面回应称，“由于我们严格遵守医学保密性和临床试验法规，无法对正在进行新冠疫苗试验中的个别病例发表评论，我们可以确认已遵循所有必需的审查程序。”早在今年9月，阿斯利康在全球范围停止试验，因一名英国参与者患病。来自英国的这名受试者出现的副反应征状为“贯穿性脊髓炎”，这种炎症可以由病毒感染引起，严重时会导致脊髓发炎部分以下肢体的感觉神经、运动神经以及自主神经系统失控。随后，阿斯利康在英国、巴西、南非和印度恢复了研究，但在美国的临床试验并未恢复。美东时间本周五，华盛顿邮报报道称，强生的新冠疫苗试验也将很快恢复。当天不久后，强生表示，强生正与各国监管机构讨论恢复疫苗试验，将恢复新冠疫苗的第三阶段试验，预计将于周一或周二重启疫苗试验。强生还预计，美国新冠疫苗试验疗效数据将在2020年底或2021年初公布。强生股价周五小幅上涨。比尔盖茨：即使一年后世界仍不会恢复正常据腾讯科技10月23日消息，微软联合创始人比尔·盖茨(Bill Gates)周五在访谈节目中预测，尽管全球在努力遏制新冠肺炎疫情的传播，但即使一年后，世界仍不会恢复正常。盖茨称，“可悲的是，随着我们进入秋季，病例和死亡人数将再次回升。这些数字之所以如此之高，部分原因是我们的反应非常糟糕。”但盖茨也认为，2021年秋季，美国的情况将大大改善。盖茨称，“许多服务业的工作可以重新到位，学校也可以回到原位。但在该期间内，我们也面临着风险。”世卫组织：太多国家的病例数量呈指数级增长 全球疫情正处于紧要关头据央视新闻，当地时间10月23日，世卫组织举行新冠肺炎例行发布会，世卫组织总干事谭德塞表示，全球疫情正处于紧要关头，尤其是北半球。接下来的几个月将非常艰难，一些国家正处在危险的轨道上。谭德塞强调，太多国家的病例数量呈指数级增长，导致医院和重症监护病房趋于或超过饱和，而现在仅仅是10月份。谭德塞敦促各国领导人立即采取行动，以防止出现更多不必要的死亡，避免基本医疗服务崩溃或学校再次关闭。刺激计划僵局持续 美股周线结束三连涨 虽有疫苗相关的利好消息释放，但刺激计划的僵局依然拖累了美股走势。当地时间本周五，美国众议院议长佩洛西表示，希望能再出台一份刺激法案。美国白宫新闻秘书麦克纳尼也称，“非常”有可能达成刺激协议。但当天不久后，美国财政部长史蒂文·姆努钦表示，众议院议长南希·佩洛西在努力达成协议，但双方的谈判仍然存在较大分歧。美国国家经济顾问库德洛也直言，刺激计划的谈判目前进展不是很快。美股盘后，美国国会众议院议长助理表示，议长佩洛西希望很快能与白宫达成刺激计划的协议。如果驴象两党在谈判上取得进展，议长佩洛西还将再次与财长姆努钦对话。在刺激计划缺乏进展的背景下，昨夜美股三大指数涨跌不一，标普收涨0.35%，本周累跌0.52%；纳指收涨0.37%，本周累跌1.06%；道指收跌0.1%，本周累跌0.94%。道指和标普500指数结束周线三连涨。
Japanese News:
米国の大手ヘルスケア企業、ジョンソン・エンド・ジョンソン（J&J）は13日、2020年通期の業績予測を引き上げることを発表した。この発表の前日には、同社が開発中の新型コロナウイルス向けワクチンの臨床試試験が、一時的に中断したことを明らかにしていた。 今回の新たな見通しによれば、調整後の1株当たり利益は7.95～8.05ドルとなり、従来の予想（7.75～7.95ドル）から上方修正された。また売上高の予測も引き上げられており、同社による2020年の業績予想の引き上げはこれが年内で2度目となった。 J&Jは12日夜、新型コロナワクチン候補の最終段階の臨床試験について、一人の被験者に原因が明らかでない疾患が確認されたため、試験を一時中断したと発表した。同社はワクチン開発競争の中でも特に規模が大きい最終治験段階にまで到達していたが、今回の中断によって、急速に進められているワクチン開発の安全性やスピードに対する懸念が市場に広がる可能性もある。 なお、第3四半期（7～9月）の売上高は210億8000万ドル（約2兆2245億円）で、市場の平均予測である201億8000万ドルを大きく上回った。これは、主にがん治療薬の「ダラザレックス」「イムブルビカ」および乾癬治療薬の「ステラーラ」の販売が好調だったためとされる。 一方で、パンデミックによる医療処置の延期やキャンセルの影響で、医療デバイス部門は厳しい業績となった。特に外科や整形外科関連、そしてコンタクトレンズ事業の売上が減少し、同部門の売上高は前年同期と比べて3.9％減の62億ドルにとどまった。ただ、同社は2021年にこの部門が大きく回復するとの見通しを示している。 また、J&Jに加えて同業のアボット・ラボラトリーズも、4～6月期の業績において市場の控えめな予測を上回ったことを示した。両社は、新型コロナウイルスの流行初期に手術が広範に中止されたことで医療機器の需要が低迷したが、その状況が徐々に改善しつつあるとの見方を示した。J&Jは通年の業績予測を上方修正し、一方のアボットは3ヶ月前に取り下げていた通期の業績見通しを再提示した。 エドワード・ジョーンズ証券のアナリスト、アシュティン・エバンス氏は、両社の業績に対して「コロナによる影響が最も深刻だったのは4～6月期である可能性が高い」と述べた。 特にアボットについては、新型コロナ関連の検査製品を迅速に市場投入したことが奏功し、この分野だけで4～6月期に6億1500万ドル（約660億円）の売上を計上。純売上高は73億3000万ドル、調整後1株利益は57セントで、いずれも市場予想を上回った。同社はさらに、通期の調整後の1株利益が最低でも3.25ドルに達するとの見通しを示している。
Spanish News:
La empresa farmacéutica estadounidense Johnson & Johnson anunció este martes una revisión al alza de sus proyecciones de ganancias anuales por segunda ocasión en 2020. Este anuncio llegó apenas un día después de comunicar la suspensión temporal de las pruebas clínicas de su vacuna experimental contra el coronavirus. La noticia sobre la interrupción de las pruebas generó preocupación entre los inversores, provocando una caída en el valor de las acciones de la compañía. El director financiero, Joseph Wolk, señaló que actualmente resulta difícil determinar la duración exacta de esta pausa, impuesta debido a la aparición de una enfermedad inexplicable en uno de los participantes del ensayo clínico. En declaraciones ofrecidas a CNBC, Wolk afirmó que la suspensión podría resolverse en pocos días, aunque no descartó un plazo mayor, dependiendo de cuándo obtengan más información al respecto. Asimismo, la farmacéutica convocará un comité independiente de seguridad y datos, encargado de evaluar tanto los procedimientos del ensayo clínico como las circunstancias específicas del participante afectado. Johnson & Johnson es el primer gran laboratorio estadounidense en reportar resultados correspondientes al tercer trimestre del año, lo cual podría influir en las expectativas hacia otras compañías farmacéuticas. En este período, las ventas de la farmacéutica aumentaron a 21.080 millones de dólares, frente a los 20.730 millones del mismo trimestre del año anterior, impulsadas especialmente por los resultados positivos de su división farmacéutica. Destacó el desempeño del medicamento contra el cáncer Darzalex, cuyas ventas experimentaron un incremento del 43,7%, alcanzando 1.100 millones de dólares. Igualmente, el fármaco Imbruvica, comercializado en conjunto con AbbVie Inc., así como Stelara—medicamento utilizado para el tratamiento de la enfermedad de Crohn—registraron aumentos de doble dígito, llegando respectivamente a 1.030 millones y 1.950 millones de dólares. Por otro lado, la unidad de dispositivos médicos sufrió un descenso del 3,6% en sus ingresos, reportando ventas por 6.150 millones de dólares, debido principalmente al aplazamiento continuo de procedimientos quirúrgicos no urgentes por parte de los pacientes hospitalizados, quienes buscan evitar posibles contagios del COVID-19. En cuanto a las previsiones para el cierre de 2020, Johnson & Johnson elevó su estimación de ganancias ajustadas a un rango de entre 7,95 y 8,05 dólares por acción, frente a la estimación anterior, situada entre 7,75 y 7,95 dólares por título. Respecto a los resultados trimestrales ajustados, la empresa obtuvo ganancias por acción de 2,20 dólares, superando así las expectativas promedio del mercado, que anticipaba utilidades trimestrales de 1,98 dólares por acción, según datos provistos por IBES de Refinitiv.
Greek News:
Κατά το τρίτο οικονομικό τρίμηνο που έληξε στις 27 Σεπτεμβρίου 2020, η Johnson & Johnson κατέγραψε μικτό κέρδος ύψους $ 14,11 δισεκατομμυρίων, παρουσιάζοντας οριακή αύξηση σε σύγκριση με τα $ 13,86 δισεκατομμύρια της αντίστοιχης περιόδου του 2019. Το περιθώριο μικτού κέρδους διατηρήθηκε σταθερό, στοιχείο που υποδηλώνει σταθερή αποδοτικότητα στο κόστος πωληθέντων. Παράλληλα, η εταιρία προχωρά σε μία ευρείας κλίμακας αναδιάρθρωση της Παγκόσμιας Εφοδιαστικής Αλυσίδας, με στόχο την ενίσχυση της ευελιξίας, τη μείωση της πολυπλοκότητας, τη βελτίωση της ανταγωνιστικότητας κόστους. Η στρατηγική αυτή συνοδεύεται από σημαντικές επενδύσεις και συνεργασίες που αναμένεται να ενισχύσουν τις δυνατότητες ανάπτυξης της εταιρείας. Στο πλαίσιο του προγράμματος, η Johnson & Johnson κατέγραψε πρό φόρων χρεώσεις $ 130 εκατομμυρίων το τρίτο τρίμηνο του 2020, και συνολικά $ 363 εκατομμύρια κατά τους πρώτους εννέα μήνες. Από την έναρξη της αναδιάρθρωσης, το συνολικό κόστος ανήλθε περίπου στα $ 1,2 δισεκατομμύρια, με την εταιρία να εκτιμά ότι οι συνολικές χρεώσεις θα κυμανθούν μεταξύ $ 1,9 και $ 2,3 δισεκατομμυρίων σε χρονικό διάστημα τετραετίας έως πενταετίας. Η εταιρία επίσης προσδοκεί την εξοικονόμιση κόστους προ φόρων μεταξύ $ 0,6 και $ 0,8 δισεκατομμυρίων κυρίως εώς το 2022.
Question:
Please list the top three focuses on revenue from news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | Please list the top three focuses on revenue from news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | 1. Oncology
2. Immunology
3. Cardiovascular products
This is supported by strong sales of Darzalex ($1.1B), Stelara ($1.95B), and Imbruvica ($1.03B).
Financial Statement Evidence:
None |
JNJ_20201023 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 |
|:-----------------------------------------------------------------------------------------------------|:-----------|:-------------------|:-----------|:------------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | |
| | | September 27, 2020 | | December 29, 2019 | | | | | | | | | | |
| ASSETS | | | | | | | | | | | | | | |
| Current assets: | | | | | | | | | | | | | | |
| Cash and cash equivalents | | $ | 18,965 | | | 17,305 | | | | | | | | |
| Marketable securities | | 11,816 | | | 1,982 | | | | | | | | | |
| Accounts receivable, trade, less allowances for doubtful accounts and credit losses $292(2019, $226) | | 14,579 | | | 14,481 | | | | | | | | | |
| Inventories (Note 2) | | 9,599 | | | 9,020 | | | | | | | | | |
| Prepaid expenses and other | | 2,528 | | | 2,392 | | | | | | | | | |
| Assets held for sale (Note 10) | | 91 | | | 94 | | | | | | | | | |
| Total current assets | | 57,578 | | | 45,274 | | | | | | | | | |
| Property, plant and equipment at cost | | 45,162 | | | 43,332 | | | | | | | | | |
| Less: accumulated depreciation | | (27,307) | | | (25,674) | | | | | | | | | |
| Property, plant and equipment, net | | 17,855 | | | 17,658 | | | | | | | | | |
| Intangible assets, net (Note 3) | | 47,006 | | | 47,643 | | | | | | | | | |
| Goodwill (Note 3) | | 34,307 | | | 33,639 | | | | | | | | | |
| Deferred taxes on income (Note 5) | | 7,816 | | | 7,819 | | | | | | | | | |
| Other assets | | 6,131 | | | 5,695 | | | | | | | | | |
| Total assets | | $ | 170,693 | | | 157,728 | | | | | | | | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | | | | | | | | |
| Current liabilities: | | | | | | | | | | | | | | |
| Loans and notes payable | | $ | 5,078 | | | 1,202 | | | | | | | | |
| Accounts payable | | 7,044 | | | 8,544 | | | | | | | | | |
| Accrued liabilities | | 9,629 | | | 9,715 | | | | | | | | | |
| Accrued rebates, returns and promotions | | 12,418 | | | 10,883 | | | | | | | | | |
| Accrued compensation and employee related obligations | | 3,012 | | | 3,354 | | | | | | | | | |
| Accrued taxes on income (Note 5) | | 1,666 | | | 2,266 | | | | | | | | | |
| Total current liabilities | | 38,847 | | | 35,964 | | | | | | | | | |
| Long-term debt (Note 4) | | 32,680 | | | 26,494 | | | | | | | | | |
| Deferred taxes on income(Note 5) | | 5,615 | | | 5,958 | | | | | | | | | |
| Employee related obligations (Note 6) | | 10,184 | | | 10,663 | | | | | | | | | |
| Long-term taxes payable (Note 5) | | 6,745 | | | 7,444 | | | | | | | | | |
| Other liabilities | | 12,149 | | | 11,734 | | | | | | | | | |
| Total liabilities | | 106,220 | | | 98,257 | | | | | | | | | |
| Commitments and Contingencies (Note 11) | | | | | | | | | | | | | | |
| Shareholders’ equity: | | | | | | | | | | | | | | |
| Common stock — par value $1.00per share (authorized4,320,000,000shares; issued3,119,843,000shares) | | $ | 3,120 | | | 3,120 | | | | | | | | |
| Accumulated other comprehensive income (loss) (Note 7) | | (14,938) | | | (15,891) | | | | | | | | | |
| Retained earnings | | 114,831 | | | 110,659 | | | | | | | | | |
| Less: common stock held in treasury, at cost (487,676,000and487,336,000shares) | | 38,540 | | | 38,417 | | | | | | | | | |
| Total shareholders’ equity | | 64,473 | | | 59,471 | | | | | | | | | |
| Total liabilities and shareholders' equity | | $ | 170,693 | | | 157,728 | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 |
|:------------------------------------------------------------------------------------------|:-----------|:-------------------------|:-----------|:------------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | |
| | | Fiscal Nine Months Ended | | | | | | | | | | | | |
| | | September 27,2020 | | September 29,2019 | | | | | | | | | | |
| CASH FLOWS FROM OPERATING ACTIVITIES | | | | | | | | | | | | | | |
| Net earnings | | $ | 12,976 | | | 11,109 | | | | | | | | |
| Adjustments to reconcile net earnings to cash flows from operating activities: | | | | | | | | | | | | | | |
| Depreciation and amortization of property and intangibles | | 5,291 | | | 5,193 | | | | | | | | | |
| Stock based compensation | | 845 | | | 817 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Asset write-downs | | 198 | | | 1,019 | | | | | | | | | |
| Contingent consideration reversal | | (1,148) | | | — | | | | | | | | | |
| Net gain on sale of assets/businesses | | (60) | | | (2,125) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Deferred tax provision | | (238) | | | (2,126) | | | | | | | | | |
| Credit losses and accounts receivable allowances | | 74 | | | (15) | | | | | | | | | |
| Changes in assets and liabilities, net of effects from acquisitions and divestitures: | | | | | | | | | | | | | | |
| Increase in accounts receivable | | (440) | | | (665) | | | | | | | | | |
| Increase in inventories | | (784) | | | (424) | | | | | | | | | |
| (Decrease)/Increase in accounts payable and accrued liabilities | | (119) | | | 2,273 | | | | | | | | | |
| Increase in other current and non-current assets | | (1,983) | | | (81) | | | | | | | | | |
| Increase in other current and non-current liabilities | | 581 | | | 2,043 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| NET CASH FLOWS FROM OPERATING ACTIVITIES | | 15,193 | | | 17,018 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM INVESTING ACTIVITIES | | | | | | | | | | | | | | |
| Additions to property, plant and equipment | | (2,024) | | | (2,238) | | | | | | | | | |
| Proceeds from the disposal of assets/businesses, net | | 100 | | | 3,103 | | | | | | | | | |
| Acquisitions, net of cash acquired | | (949) | | | (5,562) | | | | | | | | | |
| Purchases of investments | | (16,243) | | | (2,684) | | | | | | | | | |
| Sales of investments | | 6,585 | | | 2,459 | | | | | | | | | |
| Proceeds from credit support agreements, net | | 125 | | | — | | | | | | | | | |
| Other (primarily licenses and milestones) | | (516) | | | 72 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| NET CASH USED BY INVESTING ACTIVITIES | | (12,922) | | | (4,850) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM FINANCING ACTIVITIES | | | | | | | | | | | | | | |
| Dividends to shareholders | | (7,823) | | | (7,417) | | | | | | | | | |
| Repurchase of common stock | | (2,900) | | | (6,320) | | | | | | | | | |
| Proceeds from short-term debt | | 3,335 | | | 148 | | | | | | | | | |
| Repayment of short-term debt | | (310) | | | (87) | | | | | | | | | |
| Proceeds from long-term debt, net of issuance costs | | 7,431 | | | 1 | | | | | | | | | |
| Repayment of long-term debt | | (562) | | | (1,008) | | | | | | | | | |
| Proceeds from the exercise of stock options/employee withholding tax on stock awards, net | | 922 | | | 580 | | | | | | | | | |
| Other | | (569) | | | 160 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| NET CASH USED BY FINANCING ACTIVITIES | | (476) | | | (13,943) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Effect of exchange rate changes on cash and cash equivalents | | (135) | | | (83) | | | | | | | | | |
| Increase/(Decrease) in cash and cash equivalents | | 1,660 | | | (1,858) | | | | | | | | | |
| Cash and Cash equivalents, beginning of period | | 17,305 | | | 18,107 | | | | | | | | | |
| CASH AND CASH EQUIVALENTS, END OF PERIOD | | $ | 18,965 | | | 16,249 | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Acquisitions | | | | | | | | | | | | | | |
| Fair value of assets acquired | | $ | 1,173 | | | 6,861 | | | | | | | | |
| Fair value of liabilities assumed and noncontrolling interests | | (224) | | | (1,299) | | | | | | | | | |
| Net cash paid for acquisitions | | $ | 949 | | | 5,562 | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 | Column 22 | Column 23 | Column 24 | Column 25 | Column 26 | Column 27 |
|:------------------------------------------------------|:-----------|:---------------------------|:-----------|:----------------|:-----------|:------------------|:-----------|:----------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Fiscal Third Quarter Ended | | | | | | | | | | | | | | | | | | | | | | | | |
| | | September 27,2020 | | Percentto Sales | | September 29,2019 | | Percentto Sales | | | | | | | | | | | | | | | | | | |
| Sales to customers (Note 9) | | $ | 21,082 | | | 100.0 | % | | $ | 20,729 | | | 100.0 | % | | | | | | | | | | | | |
| Cost of products sold | | 6,972 | | | 33.1 | | | 6,867 | | | 33.1 | | | | | | | | | | | | | | | |
| Gross profit | | 14,110 | | | 66.9 | | | 13,862 | | | 66.9 | | | | | | | | | | | | | | | |
| Selling, marketing and administrative expenses | | 5,431 | | | 25.8 | | | 5,374 | | | 26.0 | | | | | | | | | | | | | | | |
| Research and development expense | | 2,840 | | | 13.5 | | | 2,599 | | | 12.5 | | | | | | | | | | | | | | | |
| In-process research and development | | 138 | | | 0.6 | | | — | | | — | | | | | | | | | | | | | | | |
| Interest income | | (12) | | | (0.1) | | | (89) | | | (0.4) | | | | | | | | | | | | | | | |
| Interest expense, net of portion capitalized | | 44 | | | 0.2 | | | 48 | | | 0.2 | | | | | | | | | | | | | | | |
| Other (income) expense, net | | 1,200 | | | 5.7 | | | 4,214 | | | 20.3 | | | | | | | | | | | | | | | |
| Restructuring (Note 12) | | 68 | | | 0.3 | | | 69 | | | 0.4 | | | | | | | | | | | | | | | |
| Earnings before provision for taxes on income | | 4,401 | | | 20.9 | | | 1,647 | | | 7.9 | | | | | | | | | | | | | | | |
| Provision for (benefit from) taxes on income (Note 5) | | 847 | | | 4.0 | | | (106) | | | (0.6) | | | | | | | | | | | | | | | |
| NET EARNINGS | | $ | 3,554 | | | 16.9 | % | | $ | 1,753 | | | 8.5 | % | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| NET EARNINGS PER SHARE (Note 8) | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | $ | 1.35 | | | | | $ | 0.67 | | | | | | | | | | | | | | | | | |
| Diluted | | $ | 1.33 | | | | | $ | 0.66 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| AVG. SHARES OUTSTANDING | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | 2,632.5 | | | | | 2,635.2 | | | | | | | | | | | | | | | | | | | |
| Diluted | | 2,669.3 | | | | | 2,669.9 | | | | | | | | | | | | | | | | | | | |
---
English News:
The Janssen Pharmaceutical Companies of Johnson & Johnson announcedtoday it has submitted a supplemental New Drug Application (sNDA) to the U.S. Food and Drug Administration (FDA) for a new indication to expand the use of XARELTO (rivaroxaban) in patients with peripheral artery disease (PAD). If approved, this new indication for the XARELTO vascular dose (2.5 mg twice daily plus aspirin 75-100 mg once daily) would include reducing the risk of major thrombotic vascular events such as heart attack, stroke and amputation in patients after recent lower-extremity revascularization, a common procedure in which blood flow is restored to the legs and feet due to symptomatic PAD. The application is based on data from the VOYAGER PAD study, which showed XARELTO (2.5 mg twice daily) plus aspirin (100 mg once daily) was superior to aspirin alone in reducing the risk of major cardiovascular (CV) and limb events, with similar rates of Thrombolysis In Myocardial Infarction (TIMI) major bleeding. CLICK TO TWEET: @JanssenUS announces sNDA submission to @US_FDA in #peripheralarterydisease #PAD. Learn more: https://bit.ly/3koBvL3. \"Various antithrombotic regimens have been evaluated for short- and long-term prevention of major vascular events in patients with PAD, but only rivaroxaban in combination with aspirin has demonstrated a significant benefit over aspirin alone,\" said James List, M.D., Ph.D., Global Therapeutic Area Head, Cardiovascular & Metabolism, Janssen Research & Development, LLC. \"Data from the VOYAGER PAD trial were the first in 20 years to show clinical benefit with an antithrombotic therapy in the symptomatic PAD population after lower-extremity revascularization, which speaks to the need for a new treatment in this space. We look forward to discussing these data with the FDA.\" Janssen and its development partner Bayer have conducted two major Phase 3 trials, VOYAGER PAD and COMPASS, that evaluated the use of dual antithrombotic pathway inhibition with XARELTO plus aspirin in patients with PAD. XARELTO, in combination with aspirin, was approved by the FDA in 2018 to reduce the risk of major CV events in patients with chronic PAD and coronary artery disease (CAD) the only direct oral anticoagulant (DOAC) approved for use in these populations. PAD is a serious underlying health crisis that impacts an estimated 20 million Americans, with only 8.5 million diagnosed.i,ii PAD also increases the risk for major CV events and is the leading cause of amputation,iii which can double a patient's risk of death.iv About VOYAGER PADThe Phase 3 VOYAGER PAD study included 6,564 patients from 542 sites across 34 countries worldwide. Patients were randomized in a 1:1 ratio and received either XARELTO(2.5 mg twice daily) plus aspirin (100 mg once daily) (n=3,286) or aspirin alone (100 mg once daily) (n=3,278). Patients were stratified by revascularization procedure type (endovascular vs. surgical) and use of clopidogrel, which was limited and administered based on the treating physician's discretion. Patients were followed for a median duration of 28 months. The primary efficacy endpoint was a composite of major adverse limb and CV events, including acute limb ischemia, major amputation for vascular causes, heart attack (myocardial infarction), ischemic stroke, or death from CV causes. The principal safety endpoint was major bleeding according to the TIMI classification. Eligible patients were at least 50 years old and had documented symptomatic lower-extremity PAD. Patients were eligible after a successful revascularization for symptomatic PAD within the last 10 days. Approximately two-thirds were treated with an endovascular procedure (65%) and one-third treated surgically (35%). Patients were excluded if they were clinically unstable, at heightened bleeding risk, or needed prohibited concomitant medications, including long-term clopidogrel. The median age was 67 years and 26% were women. Common risk factors for PAD included diabetes, an estimated glomerular filtration rate less than 60 mL/min/1.73 m2 (indicating mild-to-moderate kidney disease) and current smokers. WHAT IS XARELTO(rivaroxaban)? XARELTOis a prescription medicine used to: reduce the risk of stroke and blood clots in people who have a medical condition called atrial fibrillation that is not caused by a heart valve problem. With atrial fibrillation, part of the heart does not beat the way it should. This can lead to the formation of blood clots, which can travel to the brain, causing a stroke, or to other parts of the body treat blood clots in the veins of your legs (deep vein thrombosis or DVT) or lungs (pulmonary embolism or PE) reduce the risk of blood clots happening again in people who continue to be at risk for DVT or PE after receiving treatment for blood clots for at least 6 months help prevent a blood clot in the legs and lungs of people who have just had hip or knee replacement surgery help prevent blood clots in certain people hospitalized for an acute illness and after discharge, who are at risk of getting blood clots because of the loss of or decreased ability to move around (mobility) and other risks for getting blood clots, and who do not have a high risk of bleeding XARELTO is used with low dose aspirin to: reduce the risk of serious heart problems, heart attack and stroke in people with coronary artery disease (a condition where the blood supply to the heart is reduced or blocked) or peripheral artery disease (a condition where the blood flow to the legs is reduced) It is not known if XARELTOis safe and effective in children. IMPORTANT SAFETY INFORMATION WHAT IS THE MOST IMPORTANT INFORMATION I SHOULD KNOW ABOUT XARELTO? XARELTO may cause serious side effects, including: Increased risk of blood clots if you stop taking XARELTO. People with atrial fibrillation (an irregular heart beat) that is not caused by a heart valve problem (nonvalvular) are at an increased risk of forming a blood clot in the heart, which can travel to the brain, causing a stroke, or to other parts of the body. XARELTO lowers your chance of having a stroke by helping to prevent clots from forming. If you stop taking XARELTO, you may have increased risk of forming a clot in your blood.Do not stop taking XARELTOwithout talking to the doctor who prescribes it for you. Stopping XARELTOincreases your risk of having a stroke.If you have to stop taking XARELTO, your doctor may prescribe another blood thinner medicine to prevent a blood clot from forming. Increased risk of bleeding. XARELTO can cause bleeding which can be serious, and may lead to death. This is because XARELTO is a blood thinner medicine (anticoagulant) that lowers blood clotting. During treatment with XARELTO you are likely to bruise more easily, and it may take longer for bleeding to stop. You may be at higher risk of bleeding if you take XARELTO and have certain other medical problems.You may have a higher risk of bleeding if you take XARELTO and take other medicines that increase your risk of bleeding, including: Aspirin or aspirin-containing products Long-term (chronic) use of non-steroidal anti-inflammatory drugs (NSAIDs) Warfarin sodium (Coumadin, Jantoven) Any medicine that contains heparin Clopidogrel (Plavix) Selective serotonin reuptake inhibitors (SSRIs) or serotonin norepinephrine reuptake inhibitors (SNRIs) Other medicines to prevent or treat blood clots Tell your doctor if you take any of these medicines. Ask your doctor or pharmacist if you are not sure if your medicine is one listed above. Call your doctor or get medical help right away if you develop any of these signs or symptoms of bleeding: Unexpected bleeding or bleeding that lasts a long time, such as: Nosebleeds that happen often Unusual bleeding from gums Menstrual bleeding that is heavier than normal, or vaginal bleeding Bleeding that is severe or you cannot control Red, pink, or brown urine Bright red or black stools (looks like tar) Cough up blood or blood clots Vomit blood or your vomit looks like \"coffee grounds\" Headaches, feeling dizzy or weak Pain, swelling, or new drainage at wound sites Spinal or epidural blood clots (hematoma). People who take a blood thinner medicine (anticoagulant) like XARELTO, and have medicine injected into their spinal and epidural area, or have a spinal puncture, have a risk of forming a blood clot that can cause long-term or permanent loss of the ability to move (paralysis). Your risk of developing a spinal or epidural blood clot is higher if: A thin tube called an epidural catheter is placed in your back to give you certain medicine You take NSAIDs or a medicine to prevent blood from clotting You have a history of difficult or repeated epidural or spinal punctures You have a history of problems with your spine or have had surgery on your spine If you take XARELTO and receive spinal anesthesia or have a spinal puncture, your doctor should watch you closely for symptoms of spinal or epidural blood clots. Tell your doctor right away if you have back pain, tingling, numbness, muscle weakness (especially in your legs and feet), or loss of control of the bowels or bladder (incontinence). XARELTO is not for use in people with artificial heart valves. XARELTO is not for use in people with antiphospholipid syndrome (APS), especially with positive triple antibody testing. Do not take XARELTO if you: Currently have certain types of abnormal bleeding. Talk to your doctor before taking XARELTO if you currently have unusual bleeding. Are allergic to rivaroxaban or any of the ingredients of XARELTO. Before taking XARELTO, tell your doctor about all your medical conditions, including if you: Have ever had bleeding problems Have liver or kidney problems Have antiphospholipid syndrome (APS) Are pregnant or plan to become pregnant. It is not known if XARELTO will harm your unborn baby. Tell your doctor right away if you become pregnant during treatment with XARELTO. Taking XARELTO while you are pregnant may increase the risk of bleeding in you or in your unborn baby. If you take XARELTO during pregnancy, tell your doctor right away if you have any signs or symptoms of bleeding or blood loss. See \"What is the most important information I should know about XARELTO?\" for signs and symptoms of bleeding. Are breastfeeding or plan to breastfeed. XARELTO may pass into your breast milk. Talk to your doctor about the best way to feed your baby during treatment with XARELTO. Tell all of your doctors and dentists that you are taking XARELTO. They should talk to the doctor who prescribed XARELTO for you before you have any surgery, medical or dental procedure. Tell your doctor about all the medicines you take, including prescription and over-the-counter medicines, vitamins, and herbal supplements. Some of your other medicines may affect the way XARELTO works, causing side effects. Certain medicines may increase your risk of bleeding. See \"What is the most important information I should know about XARELTO?\" HOW SHOULD I TAKE XARELTO? Take XARELTO exactly as prescribed by your doctor. Do not change your dose or stop taking XARELTO unless your doctor tells you to. Your doctor may change your dose if needed. Your doctor will decide how long you should take XARELTO. XARELTO may need to be stopped for one or more days before any surgery or medical or dental procedure. Your doctor will tell you when to stop taking XARELTO and when to start taking XARELTO again after your surgery or procedure. If you need to stop taking XARELTO for any reason, talk to the doctor who prescribed XARELTO to you to find out when you should stop taking it. Do not stop taking XARELTO without first talking to the doctor who prescribes it to you. If you have difficulty swallowing XARELTO tablets whole, talk to your doctor about other ways to take XARELTO. Do not run out of XARELTO. Refill your prescription of XARELTO before you run out. When leaving the hospital following a hip or knee replacement, be sure that you will have XARELTO available to avoid missing any doses. If you take too much XARELTO, go to the nearest hospital emergency room or call your doctor right away. If you take XARELTO for: Atrial Fibrillation that is not caused by a heart valve problem: Take XARELTO 1 time a day with your evening meal. If you miss a dose of XARELTO, take it as soon as you remember on the same day. Take your next dose at your regularly scheduled time. Blood clots in the veins of your legs or lungs: Take XARELTO 1 or 2 times a day as prescribed by your doctor. For the 10-mg dose, XARELTO may be taken with or without food. For the 15-mg and 20-mg doses, take XARELTO with food at the same time each day. If you miss a dose: If you take the 15-mg dose of XARELTO 2 times a day (a total of 30 mg of XARELTO in 1 day): Take XARELTO as soon as you remember on the same day. You may take 2 doses at the same time to make up for the missed dose. Take your next dose at your regularly scheduled time. If you take XARELTO 1 time a day: Take XARELTO as soon as you remember on the same day. Take your next dose at your regularly scheduled time. Hip or knee replacement surgery: Take XARELTO 1 time a day with or without food. If you miss a dose of XARELTO, take it as soon as you remember on the same day. Take your next dose at your regularly scheduled time. Blood clots in people hospitalized for an acute illness: Take XARELTO 1 time a day, with or without food, while you are in the hospital and after you are discharged as prescribed by your doctor. If you miss a dose of XARELTO, take it as soon as you remember on the same day. Take your next dose at your regularly scheduled time. Reducing the risk of serious heart problems, heart attack and stroke in coronary artery disease or peripheral artery disease: Take XARELTO 2.5 mg 2 times a day with or without food. If you miss a dose of XARELTO, take your next dose at your regularly scheduled time. Take aspirin 75 to 100 mg once daily as instructed by your doctor. WHAT ARE THE POSSIBLE SIDE EFFECTS OF XARELTO? XARELTO may cause serious side effects: See \"What is the most important information I should know about XARELTO?\" The most common side effect of XARELTOwas bleeding. Call your doctor for medical advice about side effects. You may report side effects to the FDA at 1-800-FDA-1088. You may also report side effects to Janssen Pharmaceuticals, Inc., at 1-800-JANSSEN (1-800-526-7736). Please read full Prescribing Information, including Boxed Warnings, and Medication Guidefor XARELTO. Trademarks are those of their respective owners. Janssen and Bayer together are developing rivaroxaban. About Janssen Cardiovascular & Metabolism In Cardiovascular & Metabolism (CVM), we take on the most pervasive diseases that burden hundreds of millions of people and healthcare systems around the world. As part of this long-standing commitment and propelled by our successes in treating type 2 diabetes and thrombosis, we advance highly differentiated therapies that prevent and treat life-threatening cardiovascular, metabolic and retinal diseases. Uncovering new therapies that can improve the quality of life for this large segment of the population is an important endeavor one which Janssen CVM will continue to lead in the years to come. Our mission is global, local and personal. Together, we can reshape the future of cardiovascular, metabolic and retinal disease prevention and treatment. Please visit www.janssen.com/cardiovascular-and-metabolism. About the Janssen Pharmaceutical Companies of Johnson & JohnsonAt Janssen, we're creating a future where disease is a thing of the past. We're the Pharmaceutical Companies of Johnson & Johnson, working tirelessly to make that future a reality for patients everywhere by fighting sickness with science, improving access with ingenuity, and healing hopelessness with heart. We focus on areas of medicine where we can make the biggest difference: Cardiovascular & Metabolism, Immunology, Infectious Diseases & Vaccines, Neuroscience, Oncology, and Pulmonary Hypertension. Learn more at www.janssen.com. Follow us at www.twitter.com/JanssenUSand https://twitter.com/JanssenGlobal. Janssen Research & Development, LLC, is one of the Janssen Pharmaceutical Companies of Johnson & Johnson. Cautions Concerning Forward-Looking Statements This press release contains \"forward-looking statements\" as defined in the Private Securities Litigation Reform Act of 1995 regarding rivaroxaban. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Janssen Research & Development, LLC, any of the other Janssen Pharmaceutical Companies and/or Johnson & Johnson. Risks and uncertainties include, but are not limited to: challenges and uncertainties inherent in product research and development, including the uncertainty of clinical success and of obtaining regulatory approvals; uncertainty of commercial success; manufacturing difficulties and delays; competition, including technological advances, new products and patents attained by competitors; challenges to patents; product efficacy or safety concerns resulting in product recalls or regulatory action; changes in behavior and spending patterns of purchasers of health care products and services; changes to applicable laws and regulations, including global health care reforms; and trends toward health care cost containment. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended December 29, 2019, including in the sections captioned \"Cautionary Note Regarding Forward-Looking Statements\" and \"Item 1A. Risk Factors,\" and in the company's most recently filed Quarterly Report on Form 10-Q, and the company's subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.comor on request from Johnson & Johnson. None of the Janssen Pharmaceutical Companies nor Johnson & Johnson undertakes to update any forward-looking statement as a result of new information or future events or developments. iRacial Disparities in Vascular Care. (n.d.). Retrieved October 2, 2020, from https://cardiovascularcoalition.com/our-patients/racial-disparities-in-vascular-care/ iiCenters for Disease Control and Prevention. Peripheral Arterial Disease Fact Sheet/Data & Statistics. Retrieved March 20, 2020 from: https://www.cdc.gov/heartdisease/pad.htm. iiiNorgren L, Hiatt WR, Dormandy JA, Hirsch AT, et al. The next 10 years in the management of peripheral artery disease: perspectives from the 'PAD 2009' Conference. Eur Vasc Endovasc Surg. 2010;40(3):375-380.ivJones WS, Patel MR, Dai D, et al. High mortality risks after major lower extremity amputation in Medicare patients with peripheral artery disease. Am Heart J. 2013;165(5):809-815. Mediacontacts: Joy-Lee PasqualoniMobile: (917) 547-8078[emailprotected] Jennifer SilventMobile: (973) 479-9845[emailprotected] Investorcontacts:Johnson & JohnsonChristopher DelOreficeOffice: (732) 524-2955 Jennifer McIntyreOffice: (732) 524-3922 SOURCE Janssen Pharmaceutical Companies of Johnson & Johnson
Chinese News:
全球新冠疫苗昨夜传出三大利好。福奇称2021年初之后的几个月疫苗能广泛使用；阿斯利康在全球范围内恢复新冠疫苗实验室试验；强生预计将于周一或周二重启疫苗试验。而海外疫情形势依然十分严峻，世卫组织称全球疫情正处于紧要关头，太多国家的病例数量呈指数级增长。美国累计确诊病例已经超过846万，单日确诊数也即将逼近最高纪录，而特朗普却被爆出已经几个月没有参加白宫新冠工作组的会议。比尔盖茨也警示称，即使一年后，世界仍不会恢复正常。疫情和刺激计划僵局的影响下，美股昨夜涨跌不一，结束周线三连涨走势。福奇：2021年初之后的几个月疫苗能广泛使用美国新冠病例激增，特朗普却缺席白宫新冠工作组会议很久昨夜，美国新冠疫苗时间表又传来好消息。美国国家过敏症和传染病研究所所长福奇表示，预计疫苗将在2021年初之后的几个月广泛使用。此前，当地时间本月14日，福奇称普通美国人要到2021年4月才有可能接种新冠疫苗。福奇称，新冠疫苗看起来很有希望。但福奇还表示，对当前的新冠肺炎感染率表示担忧，担心美国新冠病例激增。近日，福奇在接受采访时还提到，“随着人们进入低温的秋月和寒冷的冬月，如果情形不能逆转和变化，就会面临前所未遇的真正更为严重的一些问题。我们真的想躲得过去。”据约翰斯·霍普金斯大学数据，10月22日美国单日新增确诊病例76195例，已逼近7月16日单日新增病例77299例的最高纪录。截至美国东部时间10月23日17时(北京时间24日5时)，美国新冠肺炎确诊病例数超过846万例，达8468802例，死亡病例为223730例。而在单日确诊即将逼近最高纪录的关键时刻，白宫新冠工作组的会议却要减少到每周一次，福奇还表示，特朗普已经几个月没有参加工作组会议了。阿斯利康恢复新冠疫苗实验室试验 强生也快了美东时间本周五，阿斯利康方面表示：阿斯利康和牛津大学共同合作的新冠肺炎疫苗AZD1222实验室试验，在美国、英国、巴西、南非和日本监管机构确认安全的情况下已经恢复进行。美国食品药品监管局审查了全球试验的所有安全数据，授权恢复三期试验。据悉，美国食品药品管理局(FDA)已经结束了对两例候选疫苗可能引起神经系统副作用的调查，并于周五下午告知阿斯利康，该公司可以继续其新冠病毒候选疫苗在美国的试验。FDA得出结论认为，疫苗不是引起神经系统副作用的原因，尽管也不能排除联系。消息发布后，阿斯利康股价短线拉升，一度上涨0.84%，收盘微涨0.08%。据英国金融时报，疫苗协议令阿斯利康可以获得超过成本20%的利润。本月21日，多家外媒报道，巴西国家卫生监督局称，一名参加牛津与阿斯利康(AZN.US)合作研发新冠疫苗临床试验的28岁巴西志愿者死亡，但依然允许试验继续进行。值得注意的是，彭博社10月21日援引一位知情人士的消息称，这名死亡的志愿者没有注射疫苗。对此，阿斯利康中国方面回应称，“由于我们严格遵守医学保密性和临床试验法规，无法对正在进行新冠疫苗试验中的个别病例发表评论，我们可以确认已遵循所有必需的审查程序。”早在今年9月，阿斯利康在全球范围停止试验，因一名英国参与者患病。来自英国的这名受试者出现的副反应征状为“贯穿性脊髓炎”，这种炎症可以由病毒感染引起，严重时会导致脊髓发炎部分以下肢体的感觉神经、运动神经以及自主神经系统失控。随后，阿斯利康在英国、巴西、南非和印度恢复了研究，但在美国的临床试验并未恢复。美东时间本周五，华盛顿邮报报道称，强生的新冠疫苗试验也将很快恢复。当天不久后，强生表示，强生正与各国监管机构讨论恢复疫苗试验，将恢复新冠疫苗的第三阶段试验，预计将于周一或周二重启疫苗试验。强生还预计，美国新冠疫苗试验疗效数据将在2020年底或2021年初公布。强生股价周五小幅上涨。比尔盖茨：即使一年后世界仍不会恢复正常据腾讯科技10月23日消息，微软联合创始人比尔·盖茨(Bill Gates)周五在访谈节目中预测，尽管全球在努力遏制新冠肺炎疫情的传播，但即使一年后，世界仍不会恢复正常。盖茨称，“可悲的是，随着我们进入秋季，病例和死亡人数将再次回升。这些数字之所以如此之高，部分原因是我们的反应非常糟糕。”但盖茨也认为，2021年秋季，美国的情况将大大改善。盖茨称，“许多服务业的工作可以重新到位，学校也可以回到原位。但在该期间内，我们也面临着风险。”世卫组织：太多国家的病例数量呈指数级增长 全球疫情正处于紧要关头据央视新闻，当地时间10月23日，世卫组织举行新冠肺炎例行发布会，世卫组织总干事谭德塞表示，全球疫情正处于紧要关头，尤其是北半球。接下来的几个月将非常艰难，一些国家正处在危险的轨道上。谭德塞强调，太多国家的病例数量呈指数级增长，导致医院和重症监护病房趋于或超过饱和，而现在仅仅是10月份。谭德塞敦促各国领导人立即采取行动，以防止出现更多不必要的死亡，避免基本医疗服务崩溃或学校再次关闭。刺激计划僵局持续 美股周线结束三连涨 虽有疫苗相关的利好消息释放，但刺激计划的僵局依然拖累了美股走势。当地时间本周五，美国众议院议长佩洛西表示，希望能再出台一份刺激法案。美国白宫新闻秘书麦克纳尼也称，“非常”有可能达成刺激协议。但当天不久后，美国财政部长史蒂文·姆努钦表示，众议院议长南希·佩洛西在努力达成协议，但双方的谈判仍然存在较大分歧。美国国家经济顾问库德洛也直言，刺激计划的谈判目前进展不是很快。美股盘后，美国国会众议院议长助理表示，议长佩洛西希望很快能与白宫达成刺激计划的协议。如果驴象两党在谈判上取得进展，议长佩洛西还将再次与财长姆努钦对话。在刺激计划缺乏进展的背景下，昨夜美股三大指数涨跌不一，标普收涨0.35%，本周累跌0.52%；纳指收涨0.37%，本周累跌1.06%；道指收跌0.1%，本周累跌0.94%。道指和标普500指数结束周线三连涨。
Japanese News:
米国の大手ヘルスケア企業、ジョンソン・エンド・ジョンソン（J&J）は13日、2020年通期の業績予測を引き上げることを発表した。この発表の前日には、同社が開発中の新型コロナウイルス向けワクチンの臨床試試験が、一時的に中断したことを明らかにしていた。 今回の新たな見通しによれば、調整後の1株当たり利益は7.95～8.05ドルとなり、従来の予想（7.75～7.95ドル）から上方修正された。また売上高の予測も引き上げられており、同社による2020年の業績予想の引き上げはこれが年内で2度目となった。 J&Jは12日夜、新型コロナワクチン候補の最終段階の臨床試験について、一人の被験者に原因が明らかでない疾患が確認されたため、試験を一時中断したと発表した。同社はワクチン開発競争の中でも特に規模が大きい最終治験段階にまで到達していたが、今回の中断によって、急速に進められているワクチン開発の安全性やスピードに対する懸念が市場に広がる可能性もある。 なお、第3四半期（7～9月）の売上高は210億8000万ドル（約2兆2245億円）で、市場の平均予測である201億8000万ドルを大きく上回った。これは、主にがん治療薬の「ダラザレックス」「イムブルビカ」および乾癬治療薬の「ステラーラ」の販売が好調だったためとされる。 一方で、パンデミックによる医療処置の延期やキャンセルの影響で、医療デバイス部門は厳しい業績となった。特に外科や整形外科関連、そしてコンタクトレンズ事業の売上が減少し、同部門の売上高は前年同期と比べて3.9％減の62億ドルにとどまった。ただ、同社は2021年にこの部門が大きく回復するとの見通しを示している。 また、J&Jに加えて同業のアボット・ラボラトリーズも、4～6月期の業績において市場の控えめな予測を上回ったことを示した。両社は、新型コロナウイルスの流行初期に手術が広範に中止されたことで医療機器の需要が低迷したが、その状況が徐々に改善しつつあるとの見方を示した。J&Jは通年の業績予測を上方修正し、一方のアボットは3ヶ月前に取り下げていた通期の業績見通しを再提示した。 エドワード・ジョーンズ証券のアナリスト、アシュティン・エバンス氏は、両社の業績に対して「コロナによる影響が最も深刻だったのは4～6月期である可能性が高い」と述べた。 特にアボットについては、新型コロナ関連の検査製品を迅速に市場投入したことが奏功し、この分野だけで4～6月期に6億1500万ドル（約660億円）の売上を計上。純売上高は73億3000万ドル、調整後1株利益は57セントで、いずれも市場予想を上回った。同社はさらに、通期の調整後の1株利益が最低でも3.25ドルに達するとの見通しを示している。
Spanish News:
La empresa farmacéutica estadounidense Johnson & Johnson anunció este martes una revisión al alza de sus proyecciones de ganancias anuales por segunda ocasión en 2020. Este anuncio llegó apenas un día después de comunicar la suspensión temporal de las pruebas clínicas de su vacuna experimental contra el coronavirus. La noticia sobre la interrupción de las pruebas generó preocupación entre los inversores, provocando una caída en el valor de las acciones de la compañía. El director financiero, Joseph Wolk, señaló que actualmente resulta difícil determinar la duración exacta de esta pausa, impuesta debido a la aparición de una enfermedad inexplicable en uno de los participantes del ensayo clínico. En declaraciones ofrecidas a CNBC, Wolk afirmó que la suspensión podría resolverse en pocos días, aunque no descartó un plazo mayor, dependiendo de cuándo obtengan más información al respecto. Asimismo, la farmacéutica convocará un comité independiente de seguridad y datos, encargado de evaluar tanto los procedimientos del ensayo clínico como las circunstancias específicas del participante afectado. Johnson & Johnson es el primer gran laboratorio estadounidense en reportar resultados correspondientes al tercer trimestre del año, lo cual podría influir en las expectativas hacia otras compañías farmacéuticas. En este período, las ventas de la farmacéutica aumentaron a 21.080 millones de dólares, frente a los 20.730 millones del mismo trimestre del año anterior, impulsadas especialmente por los resultados positivos de su división farmacéutica. Destacó el desempeño del medicamento contra el cáncer Darzalex, cuyas ventas experimentaron un incremento del 43,7%, alcanzando 1.100 millones de dólares. Igualmente, el fármaco Imbruvica, comercializado en conjunto con AbbVie Inc., así como Stelara—medicamento utilizado para el tratamiento de la enfermedad de Crohn—registraron aumentos de doble dígito, llegando respectivamente a 1.030 millones y 1.950 millones de dólares. Por otro lado, la unidad de dispositivos médicos sufrió un descenso del 3,6% en sus ingresos, reportando ventas por 6.150 millones de dólares, debido principalmente al aplazamiento continuo de procedimientos quirúrgicos no urgentes por parte de los pacientes hospitalizados, quienes buscan evitar posibles contagios del COVID-19. En cuanto a las previsiones para el cierre de 2020, Johnson & Johnson elevó su estimación de ganancias ajustadas a un rango de entre 7,95 y 8,05 dólares por acción, frente a la estimación anterior, situada entre 7,75 y 7,95 dólares por título. Respecto a los resultados trimestrales ajustados, la empresa obtuvo ganancias por acción de 2,20 dólares, superando así las expectativas promedio del mercado, que anticipaba utilidades trimestrales de 1,98 dólares por acción, según datos provistos por IBES de Refinitiv.
Greek News:
Κατά το τρίτο οικονομικό τρίμηνο που έληξε στις 27 Σεπτεμβρίου 2020, η Johnson & Johnson κατέγραψε μικτό κέρδος ύψους $ 14,11 δισεκατομμυρίων, παρουσιάζοντας οριακή αύξηση σε σύγκριση με τα $ 13,86 δισεκατομμύρια της αντίστοιχης περιόδου του 2019. Το περιθώριο μικτού κέρδους διατηρήθηκε σταθερό, στοιχείο που υποδηλώνει σταθερή αποδοτικότητα στο κόστος πωληθέντων. Παράλληλα, η εταιρία προχωρά σε μία ευρείας κλίμακας αναδιάρθρωση της Παγκόσμιας Εφοδιαστικής Αλυσίδας, με στόχο την ενίσχυση της ευελιξίας, τη μείωση της πολυπλοκότητας, τη βελτίωση της ανταγωνιστικότητας κόστους. Η στρατηγική αυτή συνοδεύεται από σημαντικές επενδύσεις και συνεργασίες που αναμένεται να ενισχύσουν τις δυνατότητες ανάπτυξης της εταιρείας. Στο πλαίσιο του προγράμματος, η Johnson & Johnson κατέγραψε πρό φόρων χρεώσεις $ 130 εκατομμυρίων το τρίτο τρίμηνο του 2020, και συνολικά $ 363 εκατομμύρια κατά τους πρώτους εννέα μήνες. Από την έναρξη της αναδιάρθρωσης, το συνολικό κόστος ανήλθε περίπου στα $ 1,2 δισεκατομμύρια, με την εταιρία να εκτιμά ότι οι συνολικές χρεώσεις θα κυμανθούν μεταξύ $ 1,9 και $ 2,3 δισεκατομμυρίων σε χρονικό διάστημα τετραετίας έως πενταετίας. Η εταιρία επίσης προσδοκεί την εξοικονόμιση κόστους προ φόρων μεταξύ $ 0,6 και $ 0,8 δισεκατομμυρίων κυρίως εώς το 2022.
Question:
How is the company allocating capital (e.g., investments, share repurchases, dividends) based on its performance and market outlook from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | How is the company allocating capital (e.g., investments, share repurchases, dividends) based on its performance and market outlook from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Johnson & Johnson is allocating capital through ongoing investments in pharmaceutical R&D of $2B and continued dividend payments $7.8B, reflecting confidence in long-term growth despite pandemic uncertainties.
Financial Statement Evidence:
(9 months) Additions to property, plant and equipment: $2,024M; Cash dividends paid to shareholders: $7,823M |
JNJ_20201023 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 |
|:-----------------------------------------------------------------------------------------------------|:-----------|:-------------------|:-----------|:------------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | |
| | | September 27, 2020 | | December 29, 2019 | | | | | | | | | | |
| ASSETS | | | | | | | | | | | | | | |
| Current assets: | | | | | | | | | | | | | | |
| Cash and cash equivalents | | $ | 18,965 | | | 17,305 | | | | | | | | |
| Marketable securities | | 11,816 | | | 1,982 | | | | | | | | | |
| Accounts receivable, trade, less allowances for doubtful accounts and credit losses $292(2019, $226) | | 14,579 | | | 14,481 | | | | | | | | | |
| Inventories (Note 2) | | 9,599 | | | 9,020 | | | | | | | | | |
| Prepaid expenses and other | | 2,528 | | | 2,392 | | | | | | | | | |
| Assets held for sale (Note 10) | | 91 | | | 94 | | | | | | | | | |
| Total current assets | | 57,578 | | | 45,274 | | | | | | | | | |
| Property, plant and equipment at cost | | 45,162 | | | 43,332 | | | | | | | | | |
| Less: accumulated depreciation | | (27,307) | | | (25,674) | | | | | | | | | |
| Property, plant and equipment, net | | 17,855 | | | 17,658 | | | | | | | | | |
| Intangible assets, net (Note 3) | | 47,006 | | | 47,643 | | | | | | | | | |
| Goodwill (Note 3) | | 34,307 | | | 33,639 | | | | | | | | | |
| Deferred taxes on income (Note 5) | | 7,816 | | | 7,819 | | | | | | | | | |
| Other assets | | 6,131 | | | 5,695 | | | | | | | | | |
| Total assets | | $ | 170,693 | | | 157,728 | | | | | | | | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | | | | | | | | |
| Current liabilities: | | | | | | | | | | | | | | |
| Loans and notes payable | | $ | 5,078 | | | 1,202 | | | | | | | | |
| Accounts payable | | 7,044 | | | 8,544 | | | | | | | | | |
| Accrued liabilities | | 9,629 | | | 9,715 | | | | | | | | | |
| Accrued rebates, returns and promotions | | 12,418 | | | 10,883 | | | | | | | | | |
| Accrued compensation and employee related obligations | | 3,012 | | | 3,354 | | | | | | | | | |
| Accrued taxes on income (Note 5) | | 1,666 | | | 2,266 | | | | | | | | | |
| Total current liabilities | | 38,847 | | | 35,964 | | | | | | | | | |
| Long-term debt (Note 4) | | 32,680 | | | 26,494 | | | | | | | | | |
| Deferred taxes on income(Note 5) | | 5,615 | | | 5,958 | | | | | | | | | |
| Employee related obligations (Note 6) | | 10,184 | | | 10,663 | | | | | | | | | |
| Long-term taxes payable (Note 5) | | 6,745 | | | 7,444 | | | | | | | | | |
| Other liabilities | | 12,149 | | | 11,734 | | | | | | | | | |
| Total liabilities | | 106,220 | | | 98,257 | | | | | | | | | |
| Commitments and Contingencies (Note 11) | | | | | | | | | | | | | | |
| Shareholders’ equity: | | | | | | | | | | | | | | |
| Common stock — par value $1.00per share (authorized4,320,000,000shares; issued3,119,843,000shares) | | $ | 3,120 | | | 3,120 | | | | | | | | |
| Accumulated other comprehensive income (loss) (Note 7) | | (14,938) | | | (15,891) | | | | | | | | | |
| Retained earnings | | 114,831 | | | 110,659 | | | | | | | | | |
| Less: common stock held in treasury, at cost (487,676,000and487,336,000shares) | | 38,540 | | | 38,417 | | | | | | | | | |
| Total shareholders’ equity | | 64,473 | | | 59,471 | | | | | | | | | |
| Total liabilities and shareholders' equity | | $ | 170,693 | | | 157,728 | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 |
|:------------------------------------------------------------------------------------------|:-----------|:-------------------------|:-----------|:------------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | |
| | | Fiscal Nine Months Ended | | | | | | | | | | | | |
| | | September 27,2020 | | September 29,2019 | | | | | | | | | | |
| CASH FLOWS FROM OPERATING ACTIVITIES | | | | | | | | | | | | | | |
| Net earnings | | $ | 12,976 | | | 11,109 | | | | | | | | |
| Adjustments to reconcile net earnings to cash flows from operating activities: | | | | | | | | | | | | | | |
| Depreciation and amortization of property and intangibles | | 5,291 | | | 5,193 | | | | | | | | | |
| Stock based compensation | | 845 | | | 817 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Asset write-downs | | 198 | | | 1,019 | | | | | | | | | |
| Contingent consideration reversal | | (1,148) | | | — | | | | | | | | | |
| Net gain on sale of assets/businesses | | (60) | | | (2,125) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Deferred tax provision | | (238) | | | (2,126) | | | | | | | | | |
| Credit losses and accounts receivable allowances | | 74 | | | (15) | | | | | | | | | |
| Changes in assets and liabilities, net of effects from acquisitions and divestitures: | | | | | | | | | | | | | | |
| Increase in accounts receivable | | (440) | | | (665) | | | | | | | | | |
| Increase in inventories | | (784) | | | (424) | | | | | | | | | |
| (Decrease)/Increase in accounts payable and accrued liabilities | | (119) | | | 2,273 | | | | | | | | | |
| Increase in other current and non-current assets | | (1,983) | | | (81) | | | | | | | | | |
| Increase in other current and non-current liabilities | | 581 | | | 2,043 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| NET CASH FLOWS FROM OPERATING ACTIVITIES | | 15,193 | | | 17,018 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM INVESTING ACTIVITIES | | | | | | | | | | | | | | |
| Additions to property, plant and equipment | | (2,024) | | | (2,238) | | | | | | | | | |
| Proceeds from the disposal of assets/businesses, net | | 100 | | | 3,103 | | | | | | | | | |
| Acquisitions, net of cash acquired | | (949) | | | (5,562) | | | | | | | | | |
| Purchases of investments | | (16,243) | | | (2,684) | | | | | | | | | |
| Sales of investments | | 6,585 | | | 2,459 | | | | | | | | | |
| Proceeds from credit support agreements, net | | 125 | | | — | | | | | | | | | |
| Other (primarily licenses and milestones) | | (516) | | | 72 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| NET CASH USED BY INVESTING ACTIVITIES | | (12,922) | | | (4,850) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM FINANCING ACTIVITIES | | | | | | | | | | | | | | |
| Dividends to shareholders | | (7,823) | | | (7,417) | | | | | | | | | |
| Repurchase of common stock | | (2,900) | | | (6,320) | | | | | | | | | |
| Proceeds from short-term debt | | 3,335 | | | 148 | | | | | | | | | |
| Repayment of short-term debt | | (310) | | | (87) | | | | | | | | | |
| Proceeds from long-term debt, net of issuance costs | | 7,431 | | | 1 | | | | | | | | | |
| Repayment of long-term debt | | (562) | | | (1,008) | | | | | | | | | |
| Proceeds from the exercise of stock options/employee withholding tax on stock awards, net | | 922 | | | 580 | | | | | | | | | |
| Other | | (569) | | | 160 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| NET CASH USED BY FINANCING ACTIVITIES | | (476) | | | (13,943) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Effect of exchange rate changes on cash and cash equivalents | | (135) | | | (83) | | | | | | | | | |
| Increase/(Decrease) in cash and cash equivalents | | 1,660 | | | (1,858) | | | | | | | | | |
| Cash and Cash equivalents, beginning of period | | 17,305 | | | 18,107 | | | | | | | | | |
| CASH AND CASH EQUIVALENTS, END OF PERIOD | | $ | 18,965 | | | 16,249 | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Acquisitions | | | | | | | | | | | | | | |
| Fair value of assets acquired | | $ | 1,173 | | | 6,861 | | | | | | | | |
| Fair value of liabilities assumed and noncontrolling interests | | (224) | | | (1,299) | | | | | | | | | |
| Net cash paid for acquisitions | | $ | 949 | | | 5,562 | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 | Column 22 | Column 23 | Column 24 | Column 25 | Column 26 | Column 27 |
|:------------------------------------------------------|:-----------|:---------------------------|:-----------|:----------------|:-----------|:------------------|:-----------|:----------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Fiscal Third Quarter Ended | | | | | | | | | | | | | | | | | | | | | | | | |
| | | September 27,2020 | | Percentto Sales | | September 29,2019 | | Percentto Sales | | | | | | | | | | | | | | | | | | |
| Sales to customers (Note 9) | | $ | 21,082 | | | 100.0 | % | | $ | 20,729 | | | 100.0 | % | | | | | | | | | | | | |
| Cost of products sold | | 6,972 | | | 33.1 | | | 6,867 | | | 33.1 | | | | | | | | | | | | | | | |
| Gross profit | | 14,110 | | | 66.9 | | | 13,862 | | | 66.9 | | | | | | | | | | | | | | | |
| Selling, marketing and administrative expenses | | 5,431 | | | 25.8 | | | 5,374 | | | 26.0 | | | | | | | | | | | | | | | |
| Research and development expense | | 2,840 | | | 13.5 | | | 2,599 | | | 12.5 | | | | | | | | | | | | | | | |
| In-process research and development | | 138 | | | 0.6 | | | — | | | — | | | | | | | | | | | | | | | |
| Interest income | | (12) | | | (0.1) | | | (89) | | | (0.4) | | | | | | | | | | | | | | | |
| Interest expense, net of portion capitalized | | 44 | | | 0.2 | | | 48 | | | 0.2 | | | | | | | | | | | | | | | |
| Other (income) expense, net | | 1,200 | | | 5.7 | | | 4,214 | | | 20.3 | | | | | | | | | | | | | | | |
| Restructuring (Note 12) | | 68 | | | 0.3 | | | 69 | | | 0.4 | | | | | | | | | | | | | | | |
| Earnings before provision for taxes on income | | 4,401 | | | 20.9 | | | 1,647 | | | 7.9 | | | | | | | | | | | | | | | |
| Provision for (benefit from) taxes on income (Note 5) | | 847 | | | 4.0 | | | (106) | | | (0.6) | | | | | | | | | | | | | | | |
| NET EARNINGS | | $ | 3,554 | | | 16.9 | % | | $ | 1,753 | | | 8.5 | % | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| NET EARNINGS PER SHARE (Note 8) | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | $ | 1.35 | | | | | $ | 0.67 | | | | | | | | | | | | | | | | | |
| Diluted | | $ | 1.33 | | | | | $ | 0.66 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| AVG. SHARES OUTSTANDING | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | 2,632.5 | | | | | 2,635.2 | | | | | | | | | | | | | | | | | | | |
| Diluted | | 2,669.3 | | | | | 2,669.9 | | | | | | | | | | | | | | | | | | | |
---
English News:
The Janssen Pharmaceutical Companies of Johnson & Johnson announcedtoday it has submitted a supplemental New Drug Application (sNDA) to the U.S. Food and Drug Administration (FDA) for a new indication to expand the use of XARELTO (rivaroxaban) in patients with peripheral artery disease (PAD). If approved, this new indication for the XARELTO vascular dose (2.5 mg twice daily plus aspirin 75-100 mg once daily) would include reducing the risk of major thrombotic vascular events such as heart attack, stroke and amputation in patients after recent lower-extremity revascularization, a common procedure in which blood flow is restored to the legs and feet due to symptomatic PAD. The application is based on data from the VOYAGER PAD study, which showed XARELTO (2.5 mg twice daily) plus aspirin (100 mg once daily) was superior to aspirin alone in reducing the risk of major cardiovascular (CV) and limb events, with similar rates of Thrombolysis In Myocardial Infarction (TIMI) major bleeding. CLICK TO TWEET: @JanssenUS announces sNDA submission to @US_FDA in #peripheralarterydisease #PAD. Learn more: https://bit.ly/3koBvL3. \"Various antithrombotic regimens have been evaluated for short- and long-term prevention of major vascular events in patients with PAD, but only rivaroxaban in combination with aspirin has demonstrated a significant benefit over aspirin alone,\" said James List, M.D., Ph.D., Global Therapeutic Area Head, Cardiovascular & Metabolism, Janssen Research & Development, LLC. \"Data from the VOYAGER PAD trial were the first in 20 years to show clinical benefit with an antithrombotic therapy in the symptomatic PAD population after lower-extremity revascularization, which speaks to the need for a new treatment in this space. We look forward to discussing these data with the FDA.\" Janssen and its development partner Bayer have conducted two major Phase 3 trials, VOYAGER PAD and COMPASS, that evaluated the use of dual antithrombotic pathway inhibition with XARELTO plus aspirin in patients with PAD. XARELTO, in combination with aspirin, was approved by the FDA in 2018 to reduce the risk of major CV events in patients with chronic PAD and coronary artery disease (CAD) the only direct oral anticoagulant (DOAC) approved for use in these populations. PAD is a serious underlying health crisis that impacts an estimated 20 million Americans, with only 8.5 million diagnosed.i,ii PAD also increases the risk for major CV events and is the leading cause of amputation,iii which can double a patient's risk of death.iv About VOYAGER PADThe Phase 3 VOYAGER PAD study included 6,564 patients from 542 sites across 34 countries worldwide. Patients were randomized in a 1:1 ratio and received either XARELTO(2.5 mg twice daily) plus aspirin (100 mg once daily) (n=3,286) or aspirin alone (100 mg once daily) (n=3,278). Patients were stratified by revascularization procedure type (endovascular vs. surgical) and use of clopidogrel, which was limited and administered based on the treating physician's discretion. Patients were followed for a median duration of 28 months. The primary efficacy endpoint was a composite of major adverse limb and CV events, including acute limb ischemia, major amputation for vascular causes, heart attack (myocardial infarction), ischemic stroke, or death from CV causes. The principal safety endpoint was major bleeding according to the TIMI classification. Eligible patients were at least 50 years old and had documented symptomatic lower-extremity PAD. Patients were eligible after a successful revascularization for symptomatic PAD within the last 10 days. Approximately two-thirds were treated with an endovascular procedure (65%) and one-third treated surgically (35%). Patients were excluded if they were clinically unstable, at heightened bleeding risk, or needed prohibited concomitant medications, including long-term clopidogrel. The median age was 67 years and 26% were women. Common risk factors for PAD included diabetes, an estimated glomerular filtration rate less than 60 mL/min/1.73 m2 (indicating mild-to-moderate kidney disease) and current smokers. WHAT IS XARELTO(rivaroxaban)? XARELTOis a prescription medicine used to: reduce the risk of stroke and blood clots in people who have a medical condition called atrial fibrillation that is not caused by a heart valve problem. With atrial fibrillation, part of the heart does not beat the way it should. This can lead to the formation of blood clots, which can travel to the brain, causing a stroke, or to other parts of the body treat blood clots in the veins of your legs (deep vein thrombosis or DVT) or lungs (pulmonary embolism or PE) reduce the risk of blood clots happening again in people who continue to be at risk for DVT or PE after receiving treatment for blood clots for at least 6 months help prevent a blood clot in the legs and lungs of people who have just had hip or knee replacement surgery help prevent blood clots in certain people hospitalized for an acute illness and after discharge, who are at risk of getting blood clots because of the loss of or decreased ability to move around (mobility) and other risks for getting blood clots, and who do not have a high risk of bleeding XARELTO is used with low dose aspirin to: reduce the risk of serious heart problems, heart attack and stroke in people with coronary artery disease (a condition where the blood supply to the heart is reduced or blocked) or peripheral artery disease (a condition where the blood flow to the legs is reduced) It is not known if XARELTOis safe and effective in children. IMPORTANT SAFETY INFORMATION WHAT IS THE MOST IMPORTANT INFORMATION I SHOULD KNOW ABOUT XARELTO? XARELTO may cause serious side effects, including: Increased risk of blood clots if you stop taking XARELTO. People with atrial fibrillation (an irregular heart beat) that is not caused by a heart valve problem (nonvalvular) are at an increased risk of forming a blood clot in the heart, which can travel to the brain, causing a stroke, or to other parts of the body. XARELTO lowers your chance of having a stroke by helping to prevent clots from forming. If you stop taking XARELTO, you may have increased risk of forming a clot in your blood.Do not stop taking XARELTOwithout talking to the doctor who prescribes it for you. Stopping XARELTOincreases your risk of having a stroke.If you have to stop taking XARELTO, your doctor may prescribe another blood thinner medicine to prevent a blood clot from forming. Increased risk of bleeding. XARELTO can cause bleeding which can be serious, and may lead to death. This is because XARELTO is a blood thinner medicine (anticoagulant) that lowers blood clotting. During treatment with XARELTO you are likely to bruise more easily, and it may take longer for bleeding to stop. You may be at higher risk of bleeding if you take XARELTO and have certain other medical problems.You may have a higher risk of bleeding if you take XARELTO and take other medicines that increase your risk of bleeding, including: Aspirin or aspirin-containing products Long-term (chronic) use of non-steroidal anti-inflammatory drugs (NSAIDs) Warfarin sodium (Coumadin, Jantoven) Any medicine that contains heparin Clopidogrel (Plavix) Selective serotonin reuptake inhibitors (SSRIs) or serotonin norepinephrine reuptake inhibitors (SNRIs) Other medicines to prevent or treat blood clots Tell your doctor if you take any of these medicines. Ask your doctor or pharmacist if you are not sure if your medicine is one listed above. Call your doctor or get medical help right away if you develop any of these signs or symptoms of bleeding: Unexpected bleeding or bleeding that lasts a long time, such as: Nosebleeds that happen often Unusual bleeding from gums Menstrual bleeding that is heavier than normal, or vaginal bleeding Bleeding that is severe or you cannot control Red, pink, or brown urine Bright red or black stools (looks like tar) Cough up blood or blood clots Vomit blood or your vomit looks like \"coffee grounds\" Headaches, feeling dizzy or weak Pain, swelling, or new drainage at wound sites Spinal or epidural blood clots (hematoma). People who take a blood thinner medicine (anticoagulant) like XARELTO, and have medicine injected into their spinal and epidural area, or have a spinal puncture, have a risk of forming a blood clot that can cause long-term or permanent loss of the ability to move (paralysis). Your risk of developing a spinal or epidural blood clot is higher if: A thin tube called an epidural catheter is placed in your back to give you certain medicine You take NSAIDs or a medicine to prevent blood from clotting You have a history of difficult or repeated epidural or spinal punctures You have a history of problems with your spine or have had surgery on your spine If you take XARELTO and receive spinal anesthesia or have a spinal puncture, your doctor should watch you closely for symptoms of spinal or epidural blood clots. Tell your doctor right away if you have back pain, tingling, numbness, muscle weakness (especially in your legs and feet), or loss of control of the bowels or bladder (incontinence). XARELTO is not for use in people with artificial heart valves. XARELTO is not for use in people with antiphospholipid syndrome (APS), especially with positive triple antibody testing. Do not take XARELTO if you: Currently have certain types of abnormal bleeding. Talk to your doctor before taking XARELTO if you currently have unusual bleeding. Are allergic to rivaroxaban or any of the ingredients of XARELTO. Before taking XARELTO, tell your doctor about all your medical conditions, including if you: Have ever had bleeding problems Have liver or kidney problems Have antiphospholipid syndrome (APS) Are pregnant or plan to become pregnant. It is not known if XARELTO will harm your unborn baby. Tell your doctor right away if you become pregnant during treatment with XARELTO. Taking XARELTO while you are pregnant may increase the risk of bleeding in you or in your unborn baby. If you take XARELTO during pregnancy, tell your doctor right away if you have any signs or symptoms of bleeding or blood loss. See \"What is the most important information I should know about XARELTO?\" for signs and symptoms of bleeding. Are breastfeeding or plan to breastfeed. XARELTO may pass into your breast milk. Talk to your doctor about the best way to feed your baby during treatment with XARELTO. Tell all of your doctors and dentists that you are taking XARELTO. They should talk to the doctor who prescribed XARELTO for you before you have any surgery, medical or dental procedure. Tell your doctor about all the medicines you take, including prescription and over-the-counter medicines, vitamins, and herbal supplements. Some of your other medicines may affect the way XARELTO works, causing side effects. Certain medicines may increase your risk of bleeding. See \"What is the most important information I should know about XARELTO?\" HOW SHOULD I TAKE XARELTO? Take XARELTO exactly as prescribed by your doctor. Do not change your dose or stop taking XARELTO unless your doctor tells you to. Your doctor may change your dose if needed. Your doctor will decide how long you should take XARELTO. XARELTO may need to be stopped for one or more days before any surgery or medical or dental procedure. Your doctor will tell you when to stop taking XARELTO and when to start taking XARELTO again after your surgery or procedure. If you need to stop taking XARELTO for any reason, talk to the doctor who prescribed XARELTO to you to find out when you should stop taking it. Do not stop taking XARELTO without first talking to the doctor who prescribes it to you. If you have difficulty swallowing XARELTO tablets whole, talk to your doctor about other ways to take XARELTO. Do not run out of XARELTO. Refill your prescription of XARELTO before you run out. When leaving the hospital following a hip or knee replacement, be sure that you will have XARELTO available to avoid missing any doses. If you take too much XARELTO, go to the nearest hospital emergency room or call your doctor right away. If you take XARELTO for: Atrial Fibrillation that is not caused by a heart valve problem: Take XARELTO 1 time a day with your evening meal. If you miss a dose of XARELTO, take it as soon as you remember on the same day. Take your next dose at your regularly scheduled time. Blood clots in the veins of your legs or lungs: Take XARELTO 1 or 2 times a day as prescribed by your doctor. For the 10-mg dose, XARELTO may be taken with or without food. For the 15-mg and 20-mg doses, take XARELTO with food at the same time each day. If you miss a dose: If you take the 15-mg dose of XARELTO 2 times a day (a total of 30 mg of XARELTO in 1 day): Take XARELTO as soon as you remember on the same day. You may take 2 doses at the same time to make up for the missed dose. Take your next dose at your regularly scheduled time. If you take XARELTO 1 time a day: Take XARELTO as soon as you remember on the same day. Take your next dose at your regularly scheduled time. Hip or knee replacement surgery: Take XARELTO 1 time a day with or without food. If you miss a dose of XARELTO, take it as soon as you remember on the same day. Take your next dose at your regularly scheduled time. Blood clots in people hospitalized for an acute illness: Take XARELTO 1 time a day, with or without food, while you are in the hospital and after you are discharged as prescribed by your doctor. If you miss a dose of XARELTO, take it as soon as you remember on the same day. Take your next dose at your regularly scheduled time. Reducing the risk of serious heart problems, heart attack and stroke in coronary artery disease or peripheral artery disease: Take XARELTO 2.5 mg 2 times a day with or without food. If you miss a dose of XARELTO, take your next dose at your regularly scheduled time. Take aspirin 75 to 100 mg once daily as instructed by your doctor. WHAT ARE THE POSSIBLE SIDE EFFECTS OF XARELTO? XARELTO may cause serious side effects: See \"What is the most important information I should know about XARELTO?\" The most common side effect of XARELTOwas bleeding. Call your doctor for medical advice about side effects. You may report side effects to the FDA at 1-800-FDA-1088. You may also report side effects to Janssen Pharmaceuticals, Inc., at 1-800-JANSSEN (1-800-526-7736). Please read full Prescribing Information, including Boxed Warnings, and Medication Guidefor XARELTO. Trademarks are those of their respective owners. Janssen and Bayer together are developing rivaroxaban. About Janssen Cardiovascular & Metabolism In Cardiovascular & Metabolism (CVM), we take on the most pervasive diseases that burden hundreds of millions of people and healthcare systems around the world. As part of this long-standing commitment and propelled by our successes in treating type 2 diabetes and thrombosis, we advance highly differentiated therapies that prevent and treat life-threatening cardiovascular, metabolic and retinal diseases. Uncovering new therapies that can improve the quality of life for this large segment of the population is an important endeavor one which Janssen CVM will continue to lead in the years to come. Our mission is global, local and personal. Together, we can reshape the future of cardiovascular, metabolic and retinal disease prevention and treatment. Please visit www.janssen.com/cardiovascular-and-metabolism. About the Janssen Pharmaceutical Companies of Johnson & JohnsonAt Janssen, we're creating a future where disease is a thing of the past. We're the Pharmaceutical Companies of Johnson & Johnson, working tirelessly to make that future a reality for patients everywhere by fighting sickness with science, improving access with ingenuity, and healing hopelessness with heart. We focus on areas of medicine where we can make the biggest difference: Cardiovascular & Metabolism, Immunology, Infectious Diseases & Vaccines, Neuroscience, Oncology, and Pulmonary Hypertension. Learn more at www.janssen.com. Follow us at www.twitter.com/JanssenUSand https://twitter.com/JanssenGlobal. Janssen Research & Development, LLC, is one of the Janssen Pharmaceutical Companies of Johnson & Johnson. Cautions Concerning Forward-Looking Statements This press release contains \"forward-looking statements\" as defined in the Private Securities Litigation Reform Act of 1995 regarding rivaroxaban. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Janssen Research & Development, LLC, any of the other Janssen Pharmaceutical Companies and/or Johnson & Johnson. Risks and uncertainties include, but are not limited to: challenges and uncertainties inherent in product research and development, including the uncertainty of clinical success and of obtaining regulatory approvals; uncertainty of commercial success; manufacturing difficulties and delays; competition, including technological advances, new products and patents attained by competitors; challenges to patents; product efficacy or safety concerns resulting in product recalls or regulatory action; changes in behavior and spending patterns of purchasers of health care products and services; changes to applicable laws and regulations, including global health care reforms; and trends toward health care cost containment. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended December 29, 2019, including in the sections captioned \"Cautionary Note Regarding Forward-Looking Statements\" and \"Item 1A. Risk Factors,\" and in the company's most recently filed Quarterly Report on Form 10-Q, and the company's subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.comor on request from Johnson & Johnson. None of the Janssen Pharmaceutical Companies nor Johnson & Johnson undertakes to update any forward-looking statement as a result of new information or future events or developments. iRacial Disparities in Vascular Care. (n.d.). Retrieved October 2, 2020, from https://cardiovascularcoalition.com/our-patients/racial-disparities-in-vascular-care/ iiCenters for Disease Control and Prevention. Peripheral Arterial Disease Fact Sheet/Data & Statistics. Retrieved March 20, 2020 from: https://www.cdc.gov/heartdisease/pad.htm. iiiNorgren L, Hiatt WR, Dormandy JA, Hirsch AT, et al. The next 10 years in the management of peripheral artery disease: perspectives from the 'PAD 2009' Conference. Eur Vasc Endovasc Surg. 2010;40(3):375-380.ivJones WS, Patel MR, Dai D, et al. High mortality risks after major lower extremity amputation in Medicare patients with peripheral artery disease. Am Heart J. 2013;165(5):809-815. Mediacontacts: Joy-Lee PasqualoniMobile: (917) 547-8078[emailprotected] Jennifer SilventMobile: (973) 479-9845[emailprotected] Investorcontacts:Johnson & JohnsonChristopher DelOreficeOffice: (732) 524-2955 Jennifer McIntyreOffice: (732) 524-3922 SOURCE Janssen Pharmaceutical Companies of Johnson & Johnson
Chinese News:
全球新冠疫苗昨夜传出三大利好。福奇称2021年初之后的几个月疫苗能广泛使用；阿斯利康在全球范围内恢复新冠疫苗实验室试验；强生预计将于周一或周二重启疫苗试验。而海外疫情形势依然十分严峻，世卫组织称全球疫情正处于紧要关头，太多国家的病例数量呈指数级增长。美国累计确诊病例已经超过846万，单日确诊数也即将逼近最高纪录，而特朗普却被爆出已经几个月没有参加白宫新冠工作组的会议。比尔盖茨也警示称，即使一年后，世界仍不会恢复正常。疫情和刺激计划僵局的影响下，美股昨夜涨跌不一，结束周线三连涨走势。福奇：2021年初之后的几个月疫苗能广泛使用美国新冠病例激增，特朗普却缺席白宫新冠工作组会议很久昨夜，美国新冠疫苗时间表又传来好消息。美国国家过敏症和传染病研究所所长福奇表示，预计疫苗将在2021年初之后的几个月广泛使用。此前，当地时间本月14日，福奇称普通美国人要到2021年4月才有可能接种新冠疫苗。福奇称，新冠疫苗看起来很有希望。但福奇还表示，对当前的新冠肺炎感染率表示担忧，担心美国新冠病例激增。近日，福奇在接受采访时还提到，“随着人们进入低温的秋月和寒冷的冬月，如果情形不能逆转和变化，就会面临前所未遇的真正更为严重的一些问题。我们真的想躲得过去。”据约翰斯·霍普金斯大学数据，10月22日美国单日新增确诊病例76195例，已逼近7月16日单日新增病例77299例的最高纪录。截至美国东部时间10月23日17时(北京时间24日5时)，美国新冠肺炎确诊病例数超过846万例，达8468802例，死亡病例为223730例。而在单日确诊即将逼近最高纪录的关键时刻，白宫新冠工作组的会议却要减少到每周一次，福奇还表示，特朗普已经几个月没有参加工作组会议了。阿斯利康恢复新冠疫苗实验室试验 强生也快了美东时间本周五，阿斯利康方面表示：阿斯利康和牛津大学共同合作的新冠肺炎疫苗AZD1222实验室试验，在美国、英国、巴西、南非和日本监管机构确认安全的情况下已经恢复进行。美国食品药品监管局审查了全球试验的所有安全数据，授权恢复三期试验。据悉，美国食品药品管理局(FDA)已经结束了对两例候选疫苗可能引起神经系统副作用的调查，并于周五下午告知阿斯利康，该公司可以继续其新冠病毒候选疫苗在美国的试验。FDA得出结论认为，疫苗不是引起神经系统副作用的原因，尽管也不能排除联系。消息发布后，阿斯利康股价短线拉升，一度上涨0.84%，收盘微涨0.08%。据英国金融时报，疫苗协议令阿斯利康可以获得超过成本20%的利润。本月21日，多家外媒报道，巴西国家卫生监督局称，一名参加牛津与阿斯利康(AZN.US)合作研发新冠疫苗临床试验的28岁巴西志愿者死亡，但依然允许试验继续进行。值得注意的是，彭博社10月21日援引一位知情人士的消息称，这名死亡的志愿者没有注射疫苗。对此，阿斯利康中国方面回应称，“由于我们严格遵守医学保密性和临床试验法规，无法对正在进行新冠疫苗试验中的个别病例发表评论，我们可以确认已遵循所有必需的审查程序。”早在今年9月，阿斯利康在全球范围停止试验，因一名英国参与者患病。来自英国的这名受试者出现的副反应征状为“贯穿性脊髓炎”，这种炎症可以由病毒感染引起，严重时会导致脊髓发炎部分以下肢体的感觉神经、运动神经以及自主神经系统失控。随后，阿斯利康在英国、巴西、南非和印度恢复了研究，但在美国的临床试验并未恢复。美东时间本周五，华盛顿邮报报道称，强生的新冠疫苗试验也将很快恢复。当天不久后，强生表示，强生正与各国监管机构讨论恢复疫苗试验，将恢复新冠疫苗的第三阶段试验，预计将于周一或周二重启疫苗试验。强生还预计，美国新冠疫苗试验疗效数据将在2020年底或2021年初公布。强生股价周五小幅上涨。比尔盖茨：即使一年后世界仍不会恢复正常据腾讯科技10月23日消息，微软联合创始人比尔·盖茨(Bill Gates)周五在访谈节目中预测，尽管全球在努力遏制新冠肺炎疫情的传播，但即使一年后，世界仍不会恢复正常。盖茨称，“可悲的是，随着我们进入秋季，病例和死亡人数将再次回升。这些数字之所以如此之高，部分原因是我们的反应非常糟糕。”但盖茨也认为，2021年秋季，美国的情况将大大改善。盖茨称，“许多服务业的工作可以重新到位，学校也可以回到原位。但在该期间内，我们也面临着风险。”世卫组织：太多国家的病例数量呈指数级增长 全球疫情正处于紧要关头据央视新闻，当地时间10月23日，世卫组织举行新冠肺炎例行发布会，世卫组织总干事谭德塞表示，全球疫情正处于紧要关头，尤其是北半球。接下来的几个月将非常艰难，一些国家正处在危险的轨道上。谭德塞强调，太多国家的病例数量呈指数级增长，导致医院和重症监护病房趋于或超过饱和，而现在仅仅是10月份。谭德塞敦促各国领导人立即采取行动，以防止出现更多不必要的死亡，避免基本医疗服务崩溃或学校再次关闭。刺激计划僵局持续 美股周线结束三连涨 虽有疫苗相关的利好消息释放，但刺激计划的僵局依然拖累了美股走势。当地时间本周五，美国众议院议长佩洛西表示，希望能再出台一份刺激法案。美国白宫新闻秘书麦克纳尼也称，“非常”有可能达成刺激协议。但当天不久后，美国财政部长史蒂文·姆努钦表示，众议院议长南希·佩洛西在努力达成协议，但双方的谈判仍然存在较大分歧。美国国家经济顾问库德洛也直言，刺激计划的谈判目前进展不是很快。美股盘后，美国国会众议院议长助理表示，议长佩洛西希望很快能与白宫达成刺激计划的协议。如果驴象两党在谈判上取得进展，议长佩洛西还将再次与财长姆努钦对话。在刺激计划缺乏进展的背景下，昨夜美股三大指数涨跌不一，标普收涨0.35%，本周累跌0.52%；纳指收涨0.37%，本周累跌1.06%；道指收跌0.1%，本周累跌0.94%。道指和标普500指数结束周线三连涨。
Japanese News:
米国の大手ヘルスケア企業、ジョンソン・エンド・ジョンソン（J&J）は13日、2020年通期の業績予測を引き上げることを発表した。この発表の前日には、同社が開発中の新型コロナウイルス向けワクチンの臨床試試験が、一時的に中断したことを明らかにしていた。 今回の新たな見通しによれば、調整後の1株当たり利益は7.95～8.05ドルとなり、従来の予想（7.75～7.95ドル）から上方修正された。また売上高の予測も引き上げられており、同社による2020年の業績予想の引き上げはこれが年内で2度目となった。 J&Jは12日夜、新型コロナワクチン候補の最終段階の臨床試験について、一人の被験者に原因が明らかでない疾患が確認されたため、試験を一時中断したと発表した。同社はワクチン開発競争の中でも特に規模が大きい最終治験段階にまで到達していたが、今回の中断によって、急速に進められているワクチン開発の安全性やスピードに対する懸念が市場に広がる可能性もある。 なお、第3四半期（7～9月）の売上高は210億8000万ドル（約2兆2245億円）で、市場の平均予測である201億8000万ドルを大きく上回った。これは、主にがん治療薬の「ダラザレックス」「イムブルビカ」および乾癬治療薬の「ステラーラ」の販売が好調だったためとされる。 一方で、パンデミックによる医療処置の延期やキャンセルの影響で、医療デバイス部門は厳しい業績となった。特に外科や整形外科関連、そしてコンタクトレンズ事業の売上が減少し、同部門の売上高は前年同期と比べて3.9％減の62億ドルにとどまった。ただ、同社は2021年にこの部門が大きく回復するとの見通しを示している。 また、J&Jに加えて同業のアボット・ラボラトリーズも、4～6月期の業績において市場の控えめな予測を上回ったことを示した。両社は、新型コロナウイルスの流行初期に手術が広範に中止されたことで医療機器の需要が低迷したが、その状況が徐々に改善しつつあるとの見方を示した。J&Jは通年の業績予測を上方修正し、一方のアボットは3ヶ月前に取り下げていた通期の業績見通しを再提示した。 エドワード・ジョーンズ証券のアナリスト、アシュティン・エバンス氏は、両社の業績に対して「コロナによる影響が最も深刻だったのは4～6月期である可能性が高い」と述べた。 特にアボットについては、新型コロナ関連の検査製品を迅速に市場投入したことが奏功し、この分野だけで4～6月期に6億1500万ドル（約660億円）の売上を計上。純売上高は73億3000万ドル、調整後1株利益は57セントで、いずれも市場予想を上回った。同社はさらに、通期の調整後の1株利益が最低でも3.25ドルに達するとの見通しを示している。
Spanish News:
La empresa farmacéutica estadounidense Johnson & Johnson anunció este martes una revisión al alza de sus proyecciones de ganancias anuales por segunda ocasión en 2020. Este anuncio llegó apenas un día después de comunicar la suspensión temporal de las pruebas clínicas de su vacuna experimental contra el coronavirus. La noticia sobre la interrupción de las pruebas generó preocupación entre los inversores, provocando una caída en el valor de las acciones de la compañía. El director financiero, Joseph Wolk, señaló que actualmente resulta difícil determinar la duración exacta de esta pausa, impuesta debido a la aparición de una enfermedad inexplicable en uno de los participantes del ensayo clínico. En declaraciones ofrecidas a CNBC, Wolk afirmó que la suspensión podría resolverse en pocos días, aunque no descartó un plazo mayor, dependiendo de cuándo obtengan más información al respecto. Asimismo, la farmacéutica convocará un comité independiente de seguridad y datos, encargado de evaluar tanto los procedimientos del ensayo clínico como las circunstancias específicas del participante afectado. Johnson & Johnson es el primer gran laboratorio estadounidense en reportar resultados correspondientes al tercer trimestre del año, lo cual podría influir en las expectativas hacia otras compañías farmacéuticas. En este período, las ventas de la farmacéutica aumentaron a 21.080 millones de dólares, frente a los 20.730 millones del mismo trimestre del año anterior, impulsadas especialmente por los resultados positivos de su división farmacéutica. Destacó el desempeño del medicamento contra el cáncer Darzalex, cuyas ventas experimentaron un incremento del 43,7%, alcanzando 1.100 millones de dólares. Igualmente, el fármaco Imbruvica, comercializado en conjunto con AbbVie Inc., así como Stelara—medicamento utilizado para el tratamiento de la enfermedad de Crohn—registraron aumentos de doble dígito, llegando respectivamente a 1.030 millones y 1.950 millones de dólares. Por otro lado, la unidad de dispositivos médicos sufrió un descenso del 3,6% en sus ingresos, reportando ventas por 6.150 millones de dólares, debido principalmente al aplazamiento continuo de procedimientos quirúrgicos no urgentes por parte de los pacientes hospitalizados, quienes buscan evitar posibles contagios del COVID-19. En cuanto a las previsiones para el cierre de 2020, Johnson & Johnson elevó su estimación de ganancias ajustadas a un rango de entre 7,95 y 8,05 dólares por acción, frente a la estimación anterior, situada entre 7,75 y 7,95 dólares por título. Respecto a los resultados trimestrales ajustados, la empresa obtuvo ganancias por acción de 2,20 dólares, superando así las expectativas promedio del mercado, que anticipaba utilidades trimestrales de 1,98 dólares por acción, según datos provistos por IBES de Refinitiv.
Greek News:
Κατά το τρίτο οικονομικό τρίμηνο που έληξε στις 27 Σεπτεμβρίου 2020, η Johnson & Johnson κατέγραψε μικτό κέρδος ύψους $ 14,11 δισεκατομμυρίων, παρουσιάζοντας οριακή αύξηση σε σύγκριση με τα $ 13,86 δισεκατομμύρια της αντίστοιχης περιόδου του 2019. Το περιθώριο μικτού κέρδους διατηρήθηκε σταθερό, στοιχείο που υποδηλώνει σταθερή αποδοτικότητα στο κόστος πωληθέντων. Παράλληλα, η εταιρία προχωρά σε μία ευρείας κλίμακας αναδιάρθρωση της Παγκόσμιας Εφοδιαστικής Αλυσίδας, με στόχο την ενίσχυση της ευελιξίας, τη μείωση της πολυπλοκότητας, τη βελτίωση της ανταγωνιστικότητας κόστους. Η στρατηγική αυτή συνοδεύεται από σημαντικές επενδύσεις και συνεργασίες που αναμένεται να ενισχύσουν τις δυνατότητες ανάπτυξης της εταιρείας. Στο πλαίσιο του προγράμματος, η Johnson & Johnson κατέγραψε πρό φόρων χρεώσεις $ 130 εκατομμυρίων το τρίτο τρίμηνο του 2020, και συνολικά $ 363 εκατομμύρια κατά τους πρώτους εννέα μήνες. Από την έναρξη της αναδιάρθρωσης, το συνολικό κόστος ανήλθε περίπου στα $ 1,2 δισεκατομμύρια, με την εταιρία να εκτιμά ότι οι συνολικές χρεώσεις θα κυμανθούν μεταξύ $ 1,9 και $ 2,3 δισεκατομμυρίων σε χρονικό διάστημα τετραετίας έως πενταετίας. Η εταιρία επίσης προσδοκεί την εξοικονόμιση κόστους προ φόρων μεταξύ $ 0,6 και $ 0,8 δισεκατομμυρίων κυρίως εώς το 2022.
Question:
What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Johnson & Johnson is maintaining profit margins through global supply chain restructuring aimed at improving cost competitiveness, with expected pre-tax cost savings of $0.6–$0.8B by 2022 (Greek News).
Financial Statement Evidence:
None |
JNJ_20201023 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 |
|:-----------------------------------------------------------------------------------------------------|:-----------|:-------------------|:-----------|:------------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | |
| | | September 27, 2020 | | December 29, 2019 | | | | | | | | | | |
| ASSETS | | | | | | | | | | | | | | |
| Current assets: | | | | | | | | | | | | | | |
| Cash and cash equivalents | | $ | 18,965 | | | 17,305 | | | | | | | | |
| Marketable securities | | 11,816 | | | 1,982 | | | | | | | | | |
| Accounts receivable, trade, less allowances for doubtful accounts and credit losses $292(2019, $226) | | 14,579 | | | 14,481 | | | | | | | | | |
| Inventories (Note 2) | | 9,599 | | | 9,020 | | | | | | | | | |
| Prepaid expenses and other | | 2,528 | | | 2,392 | | | | | | | | | |
| Assets held for sale (Note 10) | | 91 | | | 94 | | | | | | | | | |
| Total current assets | | 57,578 | | | 45,274 | | | | | | | | | |
| Property, plant and equipment at cost | | 45,162 | | | 43,332 | | | | | | | | | |
| Less: accumulated depreciation | | (27,307) | | | (25,674) | | | | | | | | | |
| Property, plant and equipment, net | | 17,855 | | | 17,658 | | | | | | | | | |
| Intangible assets, net (Note 3) | | 47,006 | | | 47,643 | | | | | | | | | |
| Goodwill (Note 3) | | 34,307 | | | 33,639 | | | | | | | | | |
| Deferred taxes on income (Note 5) | | 7,816 | | | 7,819 | | | | | | | | | |
| Other assets | | 6,131 | | | 5,695 | | | | | | | | | |
| Total assets | | $ | 170,693 | | | 157,728 | | | | | | | | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | | | | | | | | |
| Current liabilities: | | | | | | | | | | | | | | |
| Loans and notes payable | | $ | 5,078 | | | 1,202 | | | | | | | | |
| Accounts payable | | 7,044 | | | 8,544 | | | | | | | | | |
| Accrued liabilities | | 9,629 | | | 9,715 | | | | | | | | | |
| Accrued rebates, returns and promotions | | 12,418 | | | 10,883 | | | | | | | | | |
| Accrued compensation and employee related obligations | | 3,012 | | | 3,354 | | | | | | | | | |
| Accrued taxes on income (Note 5) | | 1,666 | | | 2,266 | | | | | | | | | |
| Total current liabilities | | 38,847 | | | 35,964 | | | | | | | | | |
| Long-term debt (Note 4) | | 32,680 | | | 26,494 | | | | | | | | | |
| Deferred taxes on income(Note 5) | | 5,615 | | | 5,958 | | | | | | | | | |
| Employee related obligations (Note 6) | | 10,184 | | | 10,663 | | | | | | | | | |
| Long-term taxes payable (Note 5) | | 6,745 | | | 7,444 | | | | | | | | | |
| Other liabilities | | 12,149 | | | 11,734 | | | | | | | | | |
| Total liabilities | | 106,220 | | | 98,257 | | | | | | | | | |
| Commitments and Contingencies (Note 11) | | | | | | | | | | | | | | |
| Shareholders’ equity: | | | | | | | | | | | | | | |
| Common stock — par value $1.00per share (authorized4,320,000,000shares; issued3,119,843,000shares) | | $ | 3,120 | | | 3,120 | | | | | | | | |
| Accumulated other comprehensive income (loss) (Note 7) | | (14,938) | | | (15,891) | | | | | | | | | |
| Retained earnings | | 114,831 | | | 110,659 | | | | | | | | | |
| Less: common stock held in treasury, at cost (487,676,000and487,336,000shares) | | 38,540 | | | 38,417 | | | | | | | | | |
| Total shareholders’ equity | | 64,473 | | | 59,471 | | | | | | | | | |
| Total liabilities and shareholders' equity | | $ | 170,693 | | | 157,728 | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 |
|:------------------------------------------------------------------------------------------|:-----------|:-------------------------|:-----------|:------------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | |
| | | Fiscal Nine Months Ended | | | | | | | | | | | | |
| | | September 27,2020 | | September 29,2019 | | | | | | | | | | |
| CASH FLOWS FROM OPERATING ACTIVITIES | | | | | | | | | | | | | | |
| Net earnings | | $ | 12,976 | | | 11,109 | | | | | | | | |
| Adjustments to reconcile net earnings to cash flows from operating activities: | | | | | | | | | | | | | | |
| Depreciation and amortization of property and intangibles | | 5,291 | | | 5,193 | | | | | | | | | |
| Stock based compensation | | 845 | | | 817 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Asset write-downs | | 198 | | | 1,019 | | | | | | | | | |
| Contingent consideration reversal | | (1,148) | | | — | | | | | | | | | |
| Net gain on sale of assets/businesses | | (60) | | | (2,125) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Deferred tax provision | | (238) | | | (2,126) | | | | | | | | | |
| Credit losses and accounts receivable allowances | | 74 | | | (15) | | | | | | | | | |
| Changes in assets and liabilities, net of effects from acquisitions and divestitures: | | | | | | | | | | | | | | |
| Increase in accounts receivable | | (440) | | | (665) | | | | | | | | | |
| Increase in inventories | | (784) | | | (424) | | | | | | | | | |
| (Decrease)/Increase in accounts payable and accrued liabilities | | (119) | | | 2,273 | | | | | | | | | |
| Increase in other current and non-current assets | | (1,983) | | | (81) | | | | | | | | | |
| Increase in other current and non-current liabilities | | 581 | | | 2,043 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| NET CASH FLOWS FROM OPERATING ACTIVITIES | | 15,193 | | | 17,018 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM INVESTING ACTIVITIES | | | | | | | | | | | | | | |
| Additions to property, plant and equipment | | (2,024) | | | (2,238) | | | | | | | | | |
| Proceeds from the disposal of assets/businesses, net | | 100 | | | 3,103 | | | | | | | | | |
| Acquisitions, net of cash acquired | | (949) | | | (5,562) | | | | | | | | | |
| Purchases of investments | | (16,243) | | | (2,684) | | | | | | | | | |
| Sales of investments | | 6,585 | | | 2,459 | | | | | | | | | |
| Proceeds from credit support agreements, net | | 125 | | | — | | | | | | | | | |
| Other (primarily licenses and milestones) | | (516) | | | 72 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| NET CASH USED BY INVESTING ACTIVITIES | | (12,922) | | | (4,850) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM FINANCING ACTIVITIES | | | | | | | | | | | | | | |
| Dividends to shareholders | | (7,823) | | | (7,417) | | | | | | | | | |
| Repurchase of common stock | | (2,900) | | | (6,320) | | | | | | | | | |
| Proceeds from short-term debt | | 3,335 | | | 148 | | | | | | | | | |
| Repayment of short-term debt | | (310) | | | (87) | | | | | | | | | |
| Proceeds from long-term debt, net of issuance costs | | 7,431 | | | 1 | | | | | | | | | |
| Repayment of long-term debt | | (562) | | | (1,008) | | | | | | | | | |
| Proceeds from the exercise of stock options/employee withholding tax on stock awards, net | | 922 | | | 580 | | | | | | | | | |
| Other | | (569) | | | 160 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| NET CASH USED BY FINANCING ACTIVITIES | | (476) | | | (13,943) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Effect of exchange rate changes on cash and cash equivalents | | (135) | | | (83) | | | | | | | | | |
| Increase/(Decrease) in cash and cash equivalents | | 1,660 | | | (1,858) | | | | | | | | | |
| Cash and Cash equivalents, beginning of period | | 17,305 | | | 18,107 | | | | | | | | | |
| CASH AND CASH EQUIVALENTS, END OF PERIOD | | $ | 18,965 | | | 16,249 | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Acquisitions | | | | | | | | | | | | | | |
| Fair value of assets acquired | | $ | 1,173 | | | 6,861 | | | | | | | | |
| Fair value of liabilities assumed and noncontrolling interests | | (224) | | | (1,299) | | | | | | | | | |
| Net cash paid for acquisitions | | $ | 949 | | | 5,562 | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 | Column 22 | Column 23 | Column 24 | Column 25 | Column 26 | Column 27 |
|:------------------------------------------------------|:-----------|:---------------------------|:-----------|:----------------|:-----------|:------------------|:-----------|:----------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Fiscal Third Quarter Ended | | | | | | | | | | | | | | | | | | | | | | | | |
| | | September 27,2020 | | Percentto Sales | | September 29,2019 | | Percentto Sales | | | | | | | | | | | | | | | | | | |
| Sales to customers (Note 9) | | $ | 21,082 | | | 100.0 | % | | $ | 20,729 | | | 100.0 | % | | | | | | | | | | | | |
| Cost of products sold | | 6,972 | | | 33.1 | | | 6,867 | | | 33.1 | | | | | | | | | | | | | | | |
| Gross profit | | 14,110 | | | 66.9 | | | 13,862 | | | 66.9 | | | | | | | | | | | | | | | |
| Selling, marketing and administrative expenses | | 5,431 | | | 25.8 | | | 5,374 | | | 26.0 | | | | | | | | | | | | | | | |
| Research and development expense | | 2,840 | | | 13.5 | | | 2,599 | | | 12.5 | | | | | | | | | | | | | | | |
| In-process research and development | | 138 | | | 0.6 | | | — | | | — | | | | | | | | | | | | | | | |
| Interest income | | (12) | | | (0.1) | | | (89) | | | (0.4) | | | | | | | | | | | | | | | |
| Interest expense, net of portion capitalized | | 44 | | | 0.2 | | | 48 | | | 0.2 | | | | | | | | | | | | | | | |
| Other (income) expense, net | | 1,200 | | | 5.7 | | | 4,214 | | | 20.3 | | | | | | | | | | | | | | | |
| Restructuring (Note 12) | | 68 | | | 0.3 | | | 69 | | | 0.4 | | | | | | | | | | | | | | | |
| Earnings before provision for taxes on income | | 4,401 | | | 20.9 | | | 1,647 | | | 7.9 | | | | | | | | | | | | | | | |
| Provision for (benefit from) taxes on income (Note 5) | | 847 | | | 4.0 | | | (106) | | | (0.6) | | | | | | | | | | | | | | | |
| NET EARNINGS | | $ | 3,554 | | | 16.9 | % | | $ | 1,753 | | | 8.5 | % | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| NET EARNINGS PER SHARE (Note 8) | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | $ | 1.35 | | | | | $ | 0.67 | | | | | | | | | | | | | | | | | |
| Diluted | | $ | 1.33 | | | | | $ | 0.66 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| AVG. SHARES OUTSTANDING | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | 2,632.5 | | | | | 2,635.2 | | | | | | | | | | | | | | | | | | | |
| Diluted | | 2,669.3 | | | | | 2,669.9 | | | | | | | | | | | | | | | | | | | |
---
English News:
The Janssen Pharmaceutical Companies of Johnson & Johnson announcedtoday it has submitted a supplemental New Drug Application (sNDA) to the U.S. Food and Drug Administration (FDA) for a new indication to expand the use of XARELTO (rivaroxaban) in patients with peripheral artery disease (PAD). If approved, this new indication for the XARELTO vascular dose (2.5 mg twice daily plus aspirin 75-100 mg once daily) would include reducing the risk of major thrombotic vascular events such as heart attack, stroke and amputation in patients after recent lower-extremity revascularization, a common procedure in which blood flow is restored to the legs and feet due to symptomatic PAD. The application is based on data from the VOYAGER PAD study, which showed XARELTO (2.5 mg twice daily) plus aspirin (100 mg once daily) was superior to aspirin alone in reducing the risk of major cardiovascular (CV) and limb events, with similar rates of Thrombolysis In Myocardial Infarction (TIMI) major bleeding. CLICK TO TWEET: @JanssenUS announces sNDA submission to @US_FDA in #peripheralarterydisease #PAD. Learn more: https://bit.ly/3koBvL3. \"Various antithrombotic regimens have been evaluated for short- and long-term prevention of major vascular events in patients with PAD, but only rivaroxaban in combination with aspirin has demonstrated a significant benefit over aspirin alone,\" said James List, M.D., Ph.D., Global Therapeutic Area Head, Cardiovascular & Metabolism, Janssen Research & Development, LLC. \"Data from the VOYAGER PAD trial were the first in 20 years to show clinical benefit with an antithrombotic therapy in the symptomatic PAD population after lower-extremity revascularization, which speaks to the need for a new treatment in this space. We look forward to discussing these data with the FDA.\" Janssen and its development partner Bayer have conducted two major Phase 3 trials, VOYAGER PAD and COMPASS, that evaluated the use of dual antithrombotic pathway inhibition with XARELTO plus aspirin in patients with PAD. XARELTO, in combination with aspirin, was approved by the FDA in 2018 to reduce the risk of major CV events in patients with chronic PAD and coronary artery disease (CAD) the only direct oral anticoagulant (DOAC) approved for use in these populations. PAD is a serious underlying health crisis that impacts an estimated 20 million Americans, with only 8.5 million diagnosed.i,ii PAD also increases the risk for major CV events and is the leading cause of amputation,iii which can double a patient's risk of death.iv About VOYAGER PADThe Phase 3 VOYAGER PAD study included 6,564 patients from 542 sites across 34 countries worldwide. Patients were randomized in a 1:1 ratio and received either XARELTO(2.5 mg twice daily) plus aspirin (100 mg once daily) (n=3,286) or aspirin alone (100 mg once daily) (n=3,278). Patients were stratified by revascularization procedure type (endovascular vs. surgical) and use of clopidogrel, which was limited and administered based on the treating physician's discretion. Patients were followed for a median duration of 28 months. The primary efficacy endpoint was a composite of major adverse limb and CV events, including acute limb ischemia, major amputation for vascular causes, heart attack (myocardial infarction), ischemic stroke, or death from CV causes. The principal safety endpoint was major bleeding according to the TIMI classification. Eligible patients were at least 50 years old and had documented symptomatic lower-extremity PAD. Patients were eligible after a successful revascularization for symptomatic PAD within the last 10 days. Approximately two-thirds were treated with an endovascular procedure (65%) and one-third treated surgically (35%). Patients were excluded if they were clinically unstable, at heightened bleeding risk, or needed prohibited concomitant medications, including long-term clopidogrel. The median age was 67 years and 26% were women. Common risk factors for PAD included diabetes, an estimated glomerular filtration rate less than 60 mL/min/1.73 m2 (indicating mild-to-moderate kidney disease) and current smokers. WHAT IS XARELTO(rivaroxaban)? XARELTOis a prescription medicine used to: reduce the risk of stroke and blood clots in people who have a medical condition called atrial fibrillation that is not caused by a heart valve problem. With atrial fibrillation, part of the heart does not beat the way it should. This can lead to the formation of blood clots, which can travel to the brain, causing a stroke, or to other parts of the body treat blood clots in the veins of your legs (deep vein thrombosis or DVT) or lungs (pulmonary embolism or PE) reduce the risk of blood clots happening again in people who continue to be at risk for DVT or PE after receiving treatment for blood clots for at least 6 months help prevent a blood clot in the legs and lungs of people who have just had hip or knee replacement surgery help prevent blood clots in certain people hospitalized for an acute illness and after discharge, who are at risk of getting blood clots because of the loss of or decreased ability to move around (mobility) and other risks for getting blood clots, and who do not have a high risk of bleeding XARELTO is used with low dose aspirin to: reduce the risk of serious heart problems, heart attack and stroke in people with coronary artery disease (a condition where the blood supply to the heart is reduced or blocked) or peripheral artery disease (a condition where the blood flow to the legs is reduced) It is not known if XARELTOis safe and effective in children. IMPORTANT SAFETY INFORMATION WHAT IS THE MOST IMPORTANT INFORMATION I SHOULD KNOW ABOUT XARELTO? XARELTO may cause serious side effects, including: Increased risk of blood clots if you stop taking XARELTO. People with atrial fibrillation (an irregular heart beat) that is not caused by a heart valve problem (nonvalvular) are at an increased risk of forming a blood clot in the heart, which can travel to the brain, causing a stroke, or to other parts of the body. XARELTO lowers your chance of having a stroke by helping to prevent clots from forming. If you stop taking XARELTO, you may have increased risk of forming a clot in your blood.Do not stop taking XARELTOwithout talking to the doctor who prescribes it for you. Stopping XARELTOincreases your risk of having a stroke.If you have to stop taking XARELTO, your doctor may prescribe another blood thinner medicine to prevent a blood clot from forming. Increased risk of bleeding. XARELTO can cause bleeding which can be serious, and may lead to death. This is because XARELTO is a blood thinner medicine (anticoagulant) that lowers blood clotting. During treatment with XARELTO you are likely to bruise more easily, and it may take longer for bleeding to stop. You may be at higher risk of bleeding if you take XARELTO and have certain other medical problems.You may have a higher risk of bleeding if you take XARELTO and take other medicines that increase your risk of bleeding, including: Aspirin or aspirin-containing products Long-term (chronic) use of non-steroidal anti-inflammatory drugs (NSAIDs) Warfarin sodium (Coumadin, Jantoven) Any medicine that contains heparin Clopidogrel (Plavix) Selective serotonin reuptake inhibitors (SSRIs) or serotonin norepinephrine reuptake inhibitors (SNRIs) Other medicines to prevent or treat blood clots Tell your doctor if you take any of these medicines. Ask your doctor or pharmacist if you are not sure if your medicine is one listed above. Call your doctor or get medical help right away if you develop any of these signs or symptoms of bleeding: Unexpected bleeding or bleeding that lasts a long time, such as: Nosebleeds that happen often Unusual bleeding from gums Menstrual bleeding that is heavier than normal, or vaginal bleeding Bleeding that is severe or you cannot control Red, pink, or brown urine Bright red or black stools (looks like tar) Cough up blood or blood clots Vomit blood or your vomit looks like \"coffee grounds\" Headaches, feeling dizzy or weak Pain, swelling, or new drainage at wound sites Spinal or epidural blood clots (hematoma). People who take a blood thinner medicine (anticoagulant) like XARELTO, and have medicine injected into their spinal and epidural area, or have a spinal puncture, have a risk of forming a blood clot that can cause long-term or permanent loss of the ability to move (paralysis). Your risk of developing a spinal or epidural blood clot is higher if: A thin tube called an epidural catheter is placed in your back to give you certain medicine You take NSAIDs or a medicine to prevent blood from clotting You have a history of difficult or repeated epidural or spinal punctures You have a history of problems with your spine or have had surgery on your spine If you take XARELTO and receive spinal anesthesia or have a spinal puncture, your doctor should watch you closely for symptoms of spinal or epidural blood clots. Tell your doctor right away if you have back pain, tingling, numbness, muscle weakness (especially in your legs and feet), or loss of control of the bowels or bladder (incontinence). XARELTO is not for use in people with artificial heart valves. XARELTO is not for use in people with antiphospholipid syndrome (APS), especially with positive triple antibody testing. Do not take XARELTO if you: Currently have certain types of abnormal bleeding. Talk to your doctor before taking XARELTO if you currently have unusual bleeding. Are allergic to rivaroxaban or any of the ingredients of XARELTO. Before taking XARELTO, tell your doctor about all your medical conditions, including if you: Have ever had bleeding problems Have liver or kidney problems Have antiphospholipid syndrome (APS) Are pregnant or plan to become pregnant. It is not known if XARELTO will harm your unborn baby. Tell your doctor right away if you become pregnant during treatment with XARELTO. Taking XARELTO while you are pregnant may increase the risk of bleeding in you or in your unborn baby. If you take XARELTO during pregnancy, tell your doctor right away if you have any signs or symptoms of bleeding or blood loss. See \"What is the most important information I should know about XARELTO?\" for signs and symptoms of bleeding. Are breastfeeding or plan to breastfeed. XARELTO may pass into your breast milk. Talk to your doctor about the best way to feed your baby during treatment with XARELTO. Tell all of your doctors and dentists that you are taking XARELTO. They should talk to the doctor who prescribed XARELTO for you before you have any surgery, medical or dental procedure. Tell your doctor about all the medicines you take, including prescription and over-the-counter medicines, vitamins, and herbal supplements. Some of your other medicines may affect the way XARELTO works, causing side effects. Certain medicines may increase your risk of bleeding. See \"What is the most important information I should know about XARELTO?\" HOW SHOULD I TAKE XARELTO? Take XARELTO exactly as prescribed by your doctor. Do not change your dose or stop taking XARELTO unless your doctor tells you to. Your doctor may change your dose if needed. Your doctor will decide how long you should take XARELTO. XARELTO may need to be stopped for one or more days before any surgery or medical or dental procedure. Your doctor will tell you when to stop taking XARELTO and when to start taking XARELTO again after your surgery or procedure. If you need to stop taking XARELTO for any reason, talk to the doctor who prescribed XARELTO to you to find out when you should stop taking it. Do not stop taking XARELTO without first talking to the doctor who prescribes it to you. If you have difficulty swallowing XARELTO tablets whole, talk to your doctor about other ways to take XARELTO. Do not run out of XARELTO. Refill your prescription of XARELTO before you run out. When leaving the hospital following a hip or knee replacement, be sure that you will have XARELTO available to avoid missing any doses. If you take too much XARELTO, go to the nearest hospital emergency room or call your doctor right away. If you take XARELTO for: Atrial Fibrillation that is not caused by a heart valve problem: Take XARELTO 1 time a day with your evening meal. If you miss a dose of XARELTO, take it as soon as you remember on the same day. Take your next dose at your regularly scheduled time. Blood clots in the veins of your legs or lungs: Take XARELTO 1 or 2 times a day as prescribed by your doctor. For the 10-mg dose, XARELTO may be taken with or without food. For the 15-mg and 20-mg doses, take XARELTO with food at the same time each day. If you miss a dose: If you take the 15-mg dose of XARELTO 2 times a day (a total of 30 mg of XARELTO in 1 day): Take XARELTO as soon as you remember on the same day. You may take 2 doses at the same time to make up for the missed dose. Take your next dose at your regularly scheduled time. If you take XARELTO 1 time a day: Take XARELTO as soon as you remember on the same day. Take your next dose at your regularly scheduled time. Hip or knee replacement surgery: Take XARELTO 1 time a day with or without food. If you miss a dose of XARELTO, take it as soon as you remember on the same day. Take your next dose at your regularly scheduled time. Blood clots in people hospitalized for an acute illness: Take XARELTO 1 time a day, with or without food, while you are in the hospital and after you are discharged as prescribed by your doctor. If you miss a dose of XARELTO, take it as soon as you remember on the same day. Take your next dose at your regularly scheduled time. Reducing the risk of serious heart problems, heart attack and stroke in coronary artery disease or peripheral artery disease: Take XARELTO 2.5 mg 2 times a day with or without food. If you miss a dose of XARELTO, take your next dose at your regularly scheduled time. Take aspirin 75 to 100 mg once daily as instructed by your doctor. WHAT ARE THE POSSIBLE SIDE EFFECTS OF XARELTO? XARELTO may cause serious side effects: See \"What is the most important information I should know about XARELTO?\" The most common side effect of XARELTOwas bleeding. Call your doctor for medical advice about side effects. You may report side effects to the FDA at 1-800-FDA-1088. You may also report side effects to Janssen Pharmaceuticals, Inc., at 1-800-JANSSEN (1-800-526-7736). Please read full Prescribing Information, including Boxed Warnings, and Medication Guidefor XARELTO. Trademarks are those of their respective owners. Janssen and Bayer together are developing rivaroxaban. About Janssen Cardiovascular & Metabolism In Cardiovascular & Metabolism (CVM), we take on the most pervasive diseases that burden hundreds of millions of people and healthcare systems around the world. As part of this long-standing commitment and propelled by our successes in treating type 2 diabetes and thrombosis, we advance highly differentiated therapies that prevent and treat life-threatening cardiovascular, metabolic and retinal diseases. Uncovering new therapies that can improve the quality of life for this large segment of the population is an important endeavor one which Janssen CVM will continue to lead in the years to come. Our mission is global, local and personal. Together, we can reshape the future of cardiovascular, metabolic and retinal disease prevention and treatment. Please visit www.janssen.com/cardiovascular-and-metabolism. About the Janssen Pharmaceutical Companies of Johnson & JohnsonAt Janssen, we're creating a future where disease is a thing of the past. We're the Pharmaceutical Companies of Johnson & Johnson, working tirelessly to make that future a reality for patients everywhere by fighting sickness with science, improving access with ingenuity, and healing hopelessness with heart. We focus on areas of medicine where we can make the biggest difference: Cardiovascular & Metabolism, Immunology, Infectious Diseases & Vaccines, Neuroscience, Oncology, and Pulmonary Hypertension. Learn more at www.janssen.com. Follow us at www.twitter.com/JanssenUSand https://twitter.com/JanssenGlobal. Janssen Research & Development, LLC, is one of the Janssen Pharmaceutical Companies of Johnson & Johnson. Cautions Concerning Forward-Looking Statements This press release contains \"forward-looking statements\" as defined in the Private Securities Litigation Reform Act of 1995 regarding rivaroxaban. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Janssen Research & Development, LLC, any of the other Janssen Pharmaceutical Companies and/or Johnson & Johnson. Risks and uncertainties include, but are not limited to: challenges and uncertainties inherent in product research and development, including the uncertainty of clinical success and of obtaining regulatory approvals; uncertainty of commercial success; manufacturing difficulties and delays; competition, including technological advances, new products and patents attained by competitors; challenges to patents; product efficacy or safety concerns resulting in product recalls or regulatory action; changes in behavior and spending patterns of purchasers of health care products and services; changes to applicable laws and regulations, including global health care reforms; and trends toward health care cost containment. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended December 29, 2019, including in the sections captioned \"Cautionary Note Regarding Forward-Looking Statements\" and \"Item 1A. Risk Factors,\" and in the company's most recently filed Quarterly Report on Form 10-Q, and the company's subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.comor on request from Johnson & Johnson. None of the Janssen Pharmaceutical Companies nor Johnson & Johnson undertakes to update any forward-looking statement as a result of new information or future events or developments. iRacial Disparities in Vascular Care. (n.d.). Retrieved October 2, 2020, from https://cardiovascularcoalition.com/our-patients/racial-disparities-in-vascular-care/ iiCenters for Disease Control and Prevention. Peripheral Arterial Disease Fact Sheet/Data & Statistics. Retrieved March 20, 2020 from: https://www.cdc.gov/heartdisease/pad.htm. iiiNorgren L, Hiatt WR, Dormandy JA, Hirsch AT, et al. The next 10 years in the management of peripheral artery disease: perspectives from the 'PAD 2009' Conference. Eur Vasc Endovasc Surg. 2010;40(3):375-380.ivJones WS, Patel MR, Dai D, et al. High mortality risks after major lower extremity amputation in Medicare patients with peripheral artery disease. Am Heart J. 2013;165(5):809-815. Mediacontacts: Joy-Lee PasqualoniMobile: (917) 547-8078[emailprotected] Jennifer SilventMobile: (973) 479-9845[emailprotected] Investorcontacts:Johnson & JohnsonChristopher DelOreficeOffice: (732) 524-2955 Jennifer McIntyreOffice: (732) 524-3922 SOURCE Janssen Pharmaceutical Companies of Johnson & Johnson
Chinese News:
全球新冠疫苗昨夜传出三大利好。福奇称2021年初之后的几个月疫苗能广泛使用；阿斯利康在全球范围内恢复新冠疫苗实验室试验；强生预计将于周一或周二重启疫苗试验。而海外疫情形势依然十分严峻，世卫组织称全球疫情正处于紧要关头，太多国家的病例数量呈指数级增长。美国累计确诊病例已经超过846万，单日确诊数也即将逼近最高纪录，而特朗普却被爆出已经几个月没有参加白宫新冠工作组的会议。比尔盖茨也警示称，即使一年后，世界仍不会恢复正常。疫情和刺激计划僵局的影响下，美股昨夜涨跌不一，结束周线三连涨走势。福奇：2021年初之后的几个月疫苗能广泛使用美国新冠病例激增，特朗普却缺席白宫新冠工作组会议很久昨夜，美国新冠疫苗时间表又传来好消息。美国国家过敏症和传染病研究所所长福奇表示，预计疫苗将在2021年初之后的几个月广泛使用。此前，当地时间本月14日，福奇称普通美国人要到2021年4月才有可能接种新冠疫苗。福奇称，新冠疫苗看起来很有希望。但福奇还表示，对当前的新冠肺炎感染率表示担忧，担心美国新冠病例激增。近日，福奇在接受采访时还提到，“随着人们进入低温的秋月和寒冷的冬月，如果情形不能逆转和变化，就会面临前所未遇的真正更为严重的一些问题。我们真的想躲得过去。”据约翰斯·霍普金斯大学数据，10月22日美国单日新增确诊病例76195例，已逼近7月16日单日新增病例77299例的最高纪录。截至美国东部时间10月23日17时(北京时间24日5时)，美国新冠肺炎确诊病例数超过846万例，达8468802例，死亡病例为223730例。而在单日确诊即将逼近最高纪录的关键时刻，白宫新冠工作组的会议却要减少到每周一次，福奇还表示，特朗普已经几个月没有参加工作组会议了。阿斯利康恢复新冠疫苗实验室试验 强生也快了美东时间本周五，阿斯利康方面表示：阿斯利康和牛津大学共同合作的新冠肺炎疫苗AZD1222实验室试验，在美国、英国、巴西、南非和日本监管机构确认安全的情况下已经恢复进行。美国食品药品监管局审查了全球试验的所有安全数据，授权恢复三期试验。据悉，美国食品药品管理局(FDA)已经结束了对两例候选疫苗可能引起神经系统副作用的调查，并于周五下午告知阿斯利康，该公司可以继续其新冠病毒候选疫苗在美国的试验。FDA得出结论认为，疫苗不是引起神经系统副作用的原因，尽管也不能排除联系。消息发布后，阿斯利康股价短线拉升，一度上涨0.84%，收盘微涨0.08%。据英国金融时报，疫苗协议令阿斯利康可以获得超过成本20%的利润。本月21日，多家外媒报道，巴西国家卫生监督局称，一名参加牛津与阿斯利康(AZN.US)合作研发新冠疫苗临床试验的28岁巴西志愿者死亡，但依然允许试验继续进行。值得注意的是，彭博社10月21日援引一位知情人士的消息称，这名死亡的志愿者没有注射疫苗。对此，阿斯利康中国方面回应称，“由于我们严格遵守医学保密性和临床试验法规，无法对正在进行新冠疫苗试验中的个别病例发表评论，我们可以确认已遵循所有必需的审查程序。”早在今年9月，阿斯利康在全球范围停止试验，因一名英国参与者患病。来自英国的这名受试者出现的副反应征状为“贯穿性脊髓炎”，这种炎症可以由病毒感染引起，严重时会导致脊髓发炎部分以下肢体的感觉神经、运动神经以及自主神经系统失控。随后，阿斯利康在英国、巴西、南非和印度恢复了研究，但在美国的临床试验并未恢复。美东时间本周五，华盛顿邮报报道称，强生的新冠疫苗试验也将很快恢复。当天不久后，强生表示，强生正与各国监管机构讨论恢复疫苗试验，将恢复新冠疫苗的第三阶段试验，预计将于周一或周二重启疫苗试验。强生还预计，美国新冠疫苗试验疗效数据将在2020年底或2021年初公布。强生股价周五小幅上涨。比尔盖茨：即使一年后世界仍不会恢复正常据腾讯科技10月23日消息，微软联合创始人比尔·盖茨(Bill Gates)周五在访谈节目中预测，尽管全球在努力遏制新冠肺炎疫情的传播，但即使一年后，世界仍不会恢复正常。盖茨称，“可悲的是，随着我们进入秋季，病例和死亡人数将再次回升。这些数字之所以如此之高，部分原因是我们的反应非常糟糕。”但盖茨也认为，2021年秋季，美国的情况将大大改善。盖茨称，“许多服务业的工作可以重新到位，学校也可以回到原位。但在该期间内，我们也面临着风险。”世卫组织：太多国家的病例数量呈指数级增长 全球疫情正处于紧要关头据央视新闻，当地时间10月23日，世卫组织举行新冠肺炎例行发布会，世卫组织总干事谭德塞表示，全球疫情正处于紧要关头，尤其是北半球。接下来的几个月将非常艰难，一些国家正处在危险的轨道上。谭德塞强调，太多国家的病例数量呈指数级增长，导致医院和重症监护病房趋于或超过饱和，而现在仅仅是10月份。谭德塞敦促各国领导人立即采取行动，以防止出现更多不必要的死亡，避免基本医疗服务崩溃或学校再次关闭。刺激计划僵局持续 美股周线结束三连涨 虽有疫苗相关的利好消息释放，但刺激计划的僵局依然拖累了美股走势。当地时间本周五，美国众议院议长佩洛西表示，希望能再出台一份刺激法案。美国白宫新闻秘书麦克纳尼也称，“非常”有可能达成刺激协议。但当天不久后，美国财政部长史蒂文·姆努钦表示，众议院议长南希·佩洛西在努力达成协议，但双方的谈判仍然存在较大分歧。美国国家经济顾问库德洛也直言，刺激计划的谈判目前进展不是很快。美股盘后，美国国会众议院议长助理表示，议长佩洛西希望很快能与白宫达成刺激计划的协议。如果驴象两党在谈判上取得进展，议长佩洛西还将再次与财长姆努钦对话。在刺激计划缺乏进展的背景下，昨夜美股三大指数涨跌不一，标普收涨0.35%，本周累跌0.52%；纳指收涨0.37%，本周累跌1.06%；道指收跌0.1%，本周累跌0.94%。道指和标普500指数结束周线三连涨。
Japanese News:
米国の大手ヘルスケア企業、ジョンソン・エンド・ジョンソン（J&J）は13日、2020年通期の業績予測を引き上げることを発表した。この発表の前日には、同社が開発中の新型コロナウイルス向けワクチンの臨床試試験が、一時的に中断したことを明らかにしていた。 今回の新たな見通しによれば、調整後の1株当たり利益は7.95～8.05ドルとなり、従来の予想（7.75～7.95ドル）から上方修正された。また売上高の予測も引き上げられており、同社による2020年の業績予想の引き上げはこれが年内で2度目となった。 J&Jは12日夜、新型コロナワクチン候補の最終段階の臨床試験について、一人の被験者に原因が明らかでない疾患が確認されたため、試験を一時中断したと発表した。同社はワクチン開発競争の中でも特に規模が大きい最終治験段階にまで到達していたが、今回の中断によって、急速に進められているワクチン開発の安全性やスピードに対する懸念が市場に広がる可能性もある。 なお、第3四半期（7～9月）の売上高は210億8000万ドル（約2兆2245億円）で、市場の平均予測である201億8000万ドルを大きく上回った。これは、主にがん治療薬の「ダラザレックス」「イムブルビカ」および乾癬治療薬の「ステラーラ」の販売が好調だったためとされる。 一方で、パンデミックによる医療処置の延期やキャンセルの影響で、医療デバイス部門は厳しい業績となった。特に外科や整形外科関連、そしてコンタクトレンズ事業の売上が減少し、同部門の売上高は前年同期と比べて3.9％減の62億ドルにとどまった。ただ、同社は2021年にこの部門が大きく回復するとの見通しを示している。 また、J&Jに加えて同業のアボット・ラボラトリーズも、4～6月期の業績において市場の控えめな予測を上回ったことを示した。両社は、新型コロナウイルスの流行初期に手術が広範に中止されたことで医療機器の需要が低迷したが、その状況が徐々に改善しつつあるとの見方を示した。J&Jは通年の業績予測を上方修正し、一方のアボットは3ヶ月前に取り下げていた通期の業績見通しを再提示した。 エドワード・ジョーンズ証券のアナリスト、アシュティン・エバンス氏は、両社の業績に対して「コロナによる影響が最も深刻だったのは4～6月期である可能性が高い」と述べた。 特にアボットについては、新型コロナ関連の検査製品を迅速に市場投入したことが奏功し、この分野だけで4～6月期に6億1500万ドル（約660億円）の売上を計上。純売上高は73億3000万ドル、調整後1株利益は57セントで、いずれも市場予想を上回った。同社はさらに、通期の調整後の1株利益が最低でも3.25ドルに達するとの見通しを示している。
Spanish News:
La empresa farmacéutica estadounidense Johnson & Johnson anunció este martes una revisión al alza de sus proyecciones de ganancias anuales por segunda ocasión en 2020. Este anuncio llegó apenas un día después de comunicar la suspensión temporal de las pruebas clínicas de su vacuna experimental contra el coronavirus. La noticia sobre la interrupción de las pruebas generó preocupación entre los inversores, provocando una caída en el valor de las acciones de la compañía. El director financiero, Joseph Wolk, señaló que actualmente resulta difícil determinar la duración exacta de esta pausa, impuesta debido a la aparición de una enfermedad inexplicable en uno de los participantes del ensayo clínico. En declaraciones ofrecidas a CNBC, Wolk afirmó que la suspensión podría resolverse en pocos días, aunque no descartó un plazo mayor, dependiendo de cuándo obtengan más información al respecto. Asimismo, la farmacéutica convocará un comité independiente de seguridad y datos, encargado de evaluar tanto los procedimientos del ensayo clínico como las circunstancias específicas del participante afectado. Johnson & Johnson es el primer gran laboratorio estadounidense en reportar resultados correspondientes al tercer trimestre del año, lo cual podría influir en las expectativas hacia otras compañías farmacéuticas. En este período, las ventas de la farmacéutica aumentaron a 21.080 millones de dólares, frente a los 20.730 millones del mismo trimestre del año anterior, impulsadas especialmente por los resultados positivos de su división farmacéutica. Destacó el desempeño del medicamento contra el cáncer Darzalex, cuyas ventas experimentaron un incremento del 43,7%, alcanzando 1.100 millones de dólares. Igualmente, el fármaco Imbruvica, comercializado en conjunto con AbbVie Inc., así como Stelara—medicamento utilizado para el tratamiento de la enfermedad de Crohn—registraron aumentos de doble dígito, llegando respectivamente a 1.030 millones y 1.950 millones de dólares. Por otro lado, la unidad de dispositivos médicos sufrió un descenso del 3,6% en sus ingresos, reportando ventas por 6.150 millones de dólares, debido principalmente al aplazamiento continuo de procedimientos quirúrgicos no urgentes por parte de los pacientes hospitalizados, quienes buscan evitar posibles contagios del COVID-19. En cuanto a las previsiones para el cierre de 2020, Johnson & Johnson elevó su estimación de ganancias ajustadas a un rango de entre 7,95 y 8,05 dólares por acción, frente a la estimación anterior, situada entre 7,75 y 7,95 dólares por título. Respecto a los resultados trimestrales ajustados, la empresa obtuvo ganancias por acción de 2,20 dólares, superando así las expectativas promedio del mercado, que anticipaba utilidades trimestrales de 1,98 dólares por acción, según datos provistos por IBES de Refinitiv.
Greek News:
Κατά το τρίτο οικονομικό τρίμηνο που έληξε στις 27 Σεπτεμβρίου 2020, η Johnson & Johnson κατέγραψε μικτό κέρδος ύψους $ 14,11 δισεκατομμυρίων, παρουσιάζοντας οριακή αύξηση σε σύγκριση με τα $ 13,86 δισεκατομμύρια της αντίστοιχης περιόδου του 2019. Το περιθώριο μικτού κέρδους διατηρήθηκε σταθερό, στοιχείο που υποδηλώνει σταθερή αποδοτικότητα στο κόστος πωληθέντων. Παράλληλα, η εταιρία προχωρά σε μία ευρείας κλίμακας αναδιάρθρωση της Παγκόσμιας Εφοδιαστικής Αλυσίδας, με στόχο την ενίσχυση της ευελιξίας, τη μείωση της πολυπλοκότητας, τη βελτίωση της ανταγωνιστικότητας κόστους. Η στρατηγική αυτή συνοδεύεται από σημαντικές επενδύσεις και συνεργασίες που αναμένεται να ενισχύσουν τις δυνατότητες ανάπτυξης της εταιρείας. Στο πλαίσιο του προγράμματος, η Johnson & Johnson κατέγραψε πρό φόρων χρεώσεις $ 130 εκατομμυρίων το τρίτο τρίμηνο του 2020, και συνολικά $ 363 εκατομμύρια κατά τους πρώτους εννέα μήνες. Από την έναρξη της αναδιάρθρωσης, το συνολικό κόστος ανήλθε περίπου στα $ 1,2 δισεκατομμύρια, με την εταιρία να εκτιμά ότι οι συνολικές χρεώσεις θα κυμανθούν μεταξύ $ 1,9 και $ 2,3 δισεκατομμυρίων σε χρονικό διάστημα τετραετίας έως πενταετίας. Η εταιρία επίσης προσδοκεί την εξοικονόμιση κόστους προ φόρων μεταξύ $ 0,6 και $ 0,8 δισεκατομμυρίων κυρίως εώς το 2022.
Question:
What are the company's capital expenditures and their strategic significance from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | What are the company's capital expenditures and their strategic significance from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Johnson & Johnson’s capital expenditures totaled $2.1B in the first nine months of 2020, supporting strategic initiatives like supply chain restructuring to boost efficiency and growth.
Financial Statement Evidence:
Additions to property, plant and equipment: $2,113M |
JNJ_20210222 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:-------------------------------------------------------------------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | 2020 | | 2019 | | | | | | | | |
| Assets | | | | | | | | | | | |
| Current assets | | | | | | | | | | | |
| Cash and cash equivalents (Notes 1 and 2) | $ | 13,985 | | | 17,305 | | | | | | |
| Marketable securities (Notes 1 and 2) | 11,200 | | | 1,982 | | | | | | | |
| Accounts receivable trade, less allowances for doubtful accounts $293(2019, $226) | 13,576 | | | 14,481 | | | | | | | |
| Inventories (Notes 1 and 3) | 9,344 | | | 9,020 | | | | | | | |
| | | | | | | | | | | | |
| Prepaid expenses and other receivables | 3,132 | | | 2,392 | | | | | | | |
| Assets held for sale (Note 18) | — | | | 94 | | | | | | | |
| Total current assets | 51,237 | | | 45,274 | | | | | | | |
| Property, plant and equipment, net (Notes 1 and 4) | 18,766 | | | 17,658 | | | | | | | |
| Intangible assets, net (Notes 1 and 5) | 53,402 | | | 47,643 | | | | | | | |
| Goodwill (Notes 1 and 5) | 36,393 | | | 33,639 | | | | | | | |
| Deferred taxes on income (Note 8) | 8,534 | | | 7,819 | | | | | | | |
| Other assets | 6,562 | | | 5,695 | | | | | | | |
| Total assets | $ | 174,894 | | | 157,728 | | | | | | |
| Liabilities and Shareholders’ Equity | | | | | | | | | | | |
| Current liabilities | | | | | | | | | | | |
| Loans and notes payable (Note 7) | $ | 2,631 | | | 1,202 | | | | | | |
| Accounts payable | 9,505 | | | 8,544 | | | | | | | |
| Accrued liabilities | 13,968 | | | 9,715 | | | | | | | |
| Accrued rebates, returns and promotions | 11,513 | | | 10,883 | | | | | | | |
| Accrued compensation and employee related obligations | 3,484 | | | 3,354 | | | | | | | |
| Accrued taxes on income (Note 8) | 1,392 | | | 2,266 | | | | | | | |
| Total current liabilities | 42,493 | | | 35,964 | | | | | | | |
| Long-term debt (Note 7) | 32,635 | | | 26,494 | | | | | | | |
| Deferred taxes on income (Note 8) | 7,214 | | | 5,958 | | | | | | | |
| Employee related obligations (Notes 9 and 10) | 10,771 | | | 10,663 | | | | | | | |
| Long-term taxes payable (Note 1) | 6,559 | | | 7,444 | | | | | | | |
| Other liabilities | 11,944 | | | 11,734 | | | | | | | |
| Total liabilities | 111,616 | | | 98,257 | | | | | | | |
| Commitments and Contingencies (Note 19) | | | | | | | | | | | |
| Shareholders’ equity | | | | | | | | | | | |
| Preferred stock — without par value (authorized and unissued2,000,000shares) | — | | | — | | | | | | | |
| Common stock — par value $1.00per share (Note 12) (authorized4,320,000,000shares; issued3,119,843,000shares) | 3,120 | | | 3,120 | | | | | | | |
| Accumulated other comprehensive income (loss) (Note 13) | (15,242) | | | (15,891) | | | | | | | |
| Retained earnings | 113,890 | | | 110,659 | | | | | | | |
| | 101,768 | | | 97,888 | | | | | | | |
| Less: common stock held in treasury, at cost (Note 12) (487,331,000shares and487,336,000shares) | 38,490 | | | 38,417 | | | | | | | |
| Total shareholders’ equity | 63,278 | | | 59,471 | | | | | | | |
| Total liabilities and shareholders’ equity | $ | 174,894 | | | 157,728 | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 |
|:------------------------------------------------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | |
| | 2020 | | 2019 | | 2018 | | | | | | | | | | | | |
| Cash flows from operating activities | | | | | | | | | | | | | | | | | |
| Net earnings | $ | 14,714 | | | 15,119 | | | 15,297 | | | | | | | | | |
| Adjustments to reconcile net earnings to cash flows from operating activities: | | | | | | | | | | | | | | | | | |
| Depreciation and amortization of property and intangibles | 7,231 | | | 7,009 | | | 6,929 | | | | | | | | | | |
| Stock based compensation | 1,005 | | | 977 | | | 978 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | |
| Asset write-downs | 233 | | | 1,096 | | | 1,258 | | | | | | | | | | |
| Contingent consideration reversal | (1,148) | | | — | | | — | | | | | | | | | | |
| Net gain on sale of assets/businesses | (111) | | | (2,154) | | | (1,217) | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | |
| Deferred tax provision | (1,141) | | | (2,476) | | | (1,016) | | | | | | | | | | |
| Credit losses and accounts receivable allowances | 63 | | | (20) | | | (31) | | | | | | | | | | |
| Changes in assets and liabilities, net of effects from acquisitions and divestitures: | | | | | | | | | | | | | | | | | |
| Decrease/(Increase) in accounts receivable | 774 | | | (289) | | | (1,185) | | | | | | | | | | |
| Increase in inventories | (265) | | | (277) | | | (644) | | | | | | | | | | |
| Increase in accounts payable and accrued liabilities | 5,141 | | | 4,060 | | | 3,951 | | | | | | | | | | |
| Increase in other current and non-current assets | (3,704) | | | (1,054) | | | (275) | | | | | | | | | | |
| Increase/(Decrease) in other current and non-current liabilities | 744 | | | 1,425 | | | (1,844) | | | | | | | | | | |
| Net cash flows from operating activities | 23,536 | | | 23,416 | | | 22,201 | | | | | | | | | | |
| Cash flows from investing activities | | | | | | | | | | | | | | | | | |
| Additions to property, plant and equipment | (3,347) | | | (3,498) | | | (3,670) | | | | | | | | | | |
| Proceeds from the disposal of assets/businesses, net | 305 | | | 3,265 | | | 3,203 | | | | | | | | | | |
| Acquisitions, net of cash acquired (Note 18) | (7,323) | | | (5,810) | | | (899) | | | | | | | | | | |
| Purchases of investments | (21,089) | | | (3,920) | | | (5,626) | | | | | | | | | | |
| Sales of investments | 12,137 | | | 3,387 | | | 4,289 | | | | | | | | | | |
| Credit support agreements activity, net | (987) | | | 338 | | | — | | | | | | | | | | |
| Other (primarily licenses and milestones) | (521) | | | 44 | | | (464) | | | | | | | | | | |
| Net cash used by investing activities | (20,825) | | | (6,194) | | | (3,167) | | | | | | | | | | |
| Cash flows from financing activities | | | | | | | | | | | | | | | | | |
| Dividends to shareholders | (10,481) | | | (9,917) | | | (9,494) | | | | | | | | | | |
| Repurchase of common stock | (3,221) | | | (6,746) | | | (5,868) | | | | | | | | | | |
| Proceeds from short-term debt | 3,391 | | | 39 | | | 80 | | | | | | | | | | |
| Repayment of short-term debt | (2,663) | | | (100) | | | (2,479) | | | | | | | | | | |
| Proceeds from long-term debt, net of issuance costs | 7,431 | | | 3 | | | 5 | | | | | | | | | | |
| Repayment of long-term debt | (1,064) | | | (2,823) | | | (1,555) | | | | | | | | | | |
| Proceeds from the exercise of stock options/employee withholding tax on stock awards, net | 1,114 | | | 954 | | | 949 | | | | | | | | | | |
| Credit support agreements activity, net | (333) | | | 100 | | | 25 | | | | | | | | | | |
| Other | (294) | | | 475 | | | (173) | | | | | | | | | | |
| Net cash used by financing activities | (6,120) | | | (18,015) | | | (18,510) | | | | | | | | | | |
| Effect of exchange rate changes on cash and cash equivalents | 89 | | | (9) | | | (241) | | | | | | | | | | |
| (Decrease)/Increase in cash and cash equivalents | (3,320) | | | (802) | | | 283 | | | | | | | | | | |
| Cash and cash equivalents, beginning of year (Note 1) | 17,305 | | | 18,107 | | | 17,824 | | | | | | | | | | |
| Cash and cash equivalents, end of year (Note 1) | $ | 13,985 | | | 17,305 | | | 18,107 | | | | | | | | | |
| | | | | | | | | | | | | | | | | | |
| Supplemental cash flow data | | | | | | | | | | | | | | | | | |
| Cash paid during the year for: | | | | | | | | | | | | | | | | | |
| Interest | $ | 904 | | | 995 | | | 1,049 | | | | | | | | | |
| Interest, net of amount capitalized | 841 | | | 925 | | | 963 | | | | | | | | | | |
| Income taxes | 4,619 | | | 4,191 | | | 4,570 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 |
|:------------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | |
| | 2020 | | 2019 | | 2018 | | | | | | | | | | | | |
| Sales to customers | $ | 82,584 | | | 82,059 | | | 81,581 | | | | | | | | | |
| Cost of products sold | 28,427 | | | 27,556 | | | 27,091 | | | | | | | | | | |
| Gross profit | 54,157 | | | 54,503 | | | 54,490 | | | | | | | | | | |
| Selling, marketing and administrative expenses | 22,084 | | | 22,178 | | | 22,540 | | | | | | | | | | |
| Research and development expense | 12,159 | | | 11,355 | | | 10,775 | | | | | | | | | | |
| In-process research and development (Note 5) | 181 | | | 890 | | | 1,126 | | | | | | | | | | |
| Interest income | (111) | | | (357) | | | (611) | | | | | | | | | | |
| Interest expense, net of portion capitalized (Note 4) | 201 | | | 318 | | | 1,005 | | | | | | | | | | |
| Other (income) expense, net | 2,899 | | | 2,525 | | | 1,405 | | | | | | | | | | |
| Restructuring (Note 20) | 247 | | | 266 | | | 251 | | | | | | | | | | |
| Earnings before provision for taxes on income | 16,497 | | | 17,328 | | | 17,999 | | | | | | | | | | |
| Provision for taxes on income (Note 8) | 1,783 | | | 2,209 | | | 2,702 | | | | | | | | | | |
| Net earnings | $ | 14,714 | | | 15,119 | | | 15,297 | | | | | | | | | |
| | | | | | | | | | | | | | | | | | |
| Net earnings per share (Notes 1 and 15) | | | | | | | | | | | | | | | | | |
| Basic | $ | 5.59 | | | 5.72 | | | 5.70 | | | | | | | | | |
| Diluted | $ | 5.51 | | | 5.63 | | | 5.61 | | | | | | | | | |
| Average shares outstanding (Notes 1 and 15) | | | | | | | | | | | | | | | | | |
| Basic | 2,632.8 | | | 2,645.1 | | | 2,681.5 | | | | | | | | | | |
| Diluted | 2,670.7 | | | 2,684.3 | | | 2,728.7 | | | | | | | | | | |
---
English News:
The \"Pharmaceutical Treatments for Mental Health Disorders: Global Markets\" report has been added to ResearchAndMarkets.com's offering. This new report on the market for pharmaceutical treatments for mental health disorders provides a brief overview of the pharmaceutical markets, current and future treatments, as well as drug failure/withdrawals and barriers to entry. It examines changes in healthcare regulation and guidance in the development of new agents and reviews activity in mergers and acquisitions that will help to change future treatment paradigms. Report Includes: 46 data tables and 12 additional tables An overview of the global markets for pharmaceutical treatments for mental health disorders Analyses of market trends, with data from 2019, 2020 and projections of compound annual growth rates (CAGRs) through 2025 Evaluation of current market trends, market size, market forecast, pipeline analysis of new products, and regulatory scenarios and detailed analysis of drivers, challenges, and opportunities affecting market growth Description of biological factors such as anatomical, chemical and genetic traits, and psychological reasons such as conflict or trauma on the mental health and discussion on effect of COIVD-19 pandemic, social distancing and social isolation on the mental health conditions A look at the markets for treatment of psychiatric disorders such as depression, anxiety and obsessive-compulsive disorder (OCD) and their co relation with COVID-19 Details of technological advances and improvement in the development of pharmacological treatments, digital therapeutics (DTx) and cognitive behavioural therapy (CBT) Information on tele mental health software such as ReSet, Pears Somryst and Alkili's EndeavorRx which offers personalized treatment strategies and behavioural healthcare platform which plays an important role in the management of mental health disorders Snapshot of leading mental health conditions, and products in phase III development for selected psychiatric disorders Analysis of recent product developments including pharmacological and digital therapeutics, late-stage pipeline products and points of differentiation from existing therapies Market share analysis of the key companies of the industry, their strategic profiling, their competitive landscape and their detailed company profiles including, Eli Lilly, Johnson & Johnson, Pfizer, Takeda, and Shionogi It is estimated that mental health disorders affect one in four adults each year and are the leading cause of impairment and disability across the globe. Mental health disorders refer to a wide range of mental health disorders that affect mood, thinking and behavior. These conditions can occur either due to biological factors such as anatomical, chemical and genetic traits, or psychological reasons such as conflict or trauma. Market research suggests that mental health conditions are likely to rise in the near future due to the consequences of COIVD-19 pandemic, social distancing and social isolation. Reasons for Doing This Study: The treatment of mental health disorders is complex and often involves pharmacological and behavioral interventions. Diagnosis can be challenging, as symptoms can be complicated by comorbid conditions. This report highlights the current diagnosis and treatment of leading mental health disorders and highlights the clinical unmet needs that new formulations, treatment combinations and new mechanisms of action to address or change the future treatment paradigm of these prevalent conditions. There are also several external factors, including changing regulatory guidance and the impact of the COVID-19 pandemic, which may increase access and reimbursement to medication and digital therapeutics to address unmet medical needs. Key Topics Covered: Chapter 1 Introduction Study Goals and Objectives Reasons for Doing This Study Scope of Report Information Sources Methodology Geographic Breakdown Analyst's Credentials Custom Research Related Reports Chapter 2 Summary and Highlights Chapter 3 Depression and Anxiety Market Landscape Segmentation by Drug Class Segmentation by Company Prevalence of Disorders Diagnosis Current Treatments Selective Serotonin Reuptake Inhibitors (SSRIs) Serotonin and Norepinephrine Reuptake Inhibitors (SNRIs) Norepinephrine-Dopamine Reuptake Inhibitors (NDRIs) Tricyclic Antidepressants (TCAs) Monoamine Oxidase Inhibitors (MAOIs) Atypical Antipsychotics and Second-Generation Antipsychotics (SGAs) Benzodiazepines Recent Drug Developments Drug/Company Late-Stage Drug Failures/Withdrawals Drugs in Clinical Development to Treat Depression Phase 3 Drugs in Development to Treat Depression Phase 2 Drugs in Development to Treat Depression Drugs in Clinical Development to Treat Anxiety Phase 3 Drugs in Development to Treat Anxiety Phase 2 Drugs in Development to Treat Anxiety Alternative Approaches Digital Therapeutics M&A Activity Future Opportunities Chapter 4 Attention Deficit Hyperactivity Disorder Market Landscape Segmentation by Geography Segmentation by Drug Class Segmentation by Company Prevalence Diagnosis Current Treatments Recent Drug Developments Drugs/Companies Late-Stage Drug Failures/Withdrawals Drugs in Clinical Development to Treat ADHD Phase 3 Drugs in Development to Treat ADHD Phase 2 Drugs in Development to Treat ADHD Alternative Approaches Digital Therapeutics M&A Activity Future Opportunities Chapter 5 Schizophrenia Market Landscape Segmentation by Geography Segmentation by Drug Class Segmentation by Company Prevalence Diagnosis Current Treatments Recent Drug Developments Drugs/Companies Late-Stage Drug Failures/Withdrawals Drugs in Clinical Development to Treat Schizophrenia Phase 3 Drugs in Development to Treat Schizophrenia Phase 2 Drugs in Development to Treat Schizophrenia Alternative Approaches Digital Therapeutics M&A Activity Future Opportunities Chapter 6 Substance Use Disorders Market Landscape Segmentation by Geography Segmentation by Drug Class Segmentation by Company Prevalence Diagnosis Current Treatments Opioid Use Disorders Alcohol Use Disorders Nicotine Use Disorders Recent Drug Developments Drugs in Clinical Development to Substance Abuse Disorder Phase 3 Drugs in Development to Treat Substance Use Disorders Phase 2 Drugs in Development to Treat Substance Use Disorder Alternative Approaches Digital Therapeutics M&A Activity Future Opportunities Chapter 7 Company Profiles Pharmaceutical Companies Abbvie Alkermes Plc Astrazeneca Plc Boehringer Ingelheim International Gmbh Eli Lilly & Co. Glaxosmithkline Plc H Lundbeck A/S Johnson & Johnson Otsuka Holdings Co. Ltd. Pfizer Inc. Shionogi & Co. Ltd. Takeda Pharmaceuticals Co. Ltd. Specialty Pharma And Biotechs Acadia Pharmaceuticals Inc. Adamis Pharmaceuticals Corp. Bioxcel Therapeutics Inc. Intra-Cellular Therapies Inc. Intervexion Therapeutics Ironshore Pharmaceuticals Kempharm Inc. Minerva Neurosciences Inc. Neos Therapeutics Inc. NLS Pharmaceutical Ag Noven Pharmaceuticals Inc. Sage Therapeutics Supernus Pharmaceuticals, Inc. Tonix Pharmaceuticals Holdings Corp. Tris Pharma Inc. Digital Therapeutic Companies Orexo Ab Pear Therapeutics For more information about this report visit https://www.researchandmarkets.com/r/qbmxm9 Media Contact: Research and Markets Laura Wood, Senior Manager [emailprotected] For E.S.T Office Hours Call +1-917-300-0470 For U.S./CAN Toll Free Call +1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 U.S. Fax: 646-607-1907 Fax (outside U.S.): +353-1-481-1716 SOURCE Research and Markets Related Links http://www.researchandmarkets.com
Chinese News:
FDA认为，强生公司的新冠肺炎疫苗虽然有效性低于辉瑞和Moderna，但是仍安全有效。北京时间2月28日早上，美国食品与药品监督管理局(FDA)已批准强生公司旗下杨森制药公司研发的单剂量新冠肺炎疫苗紧急使用授权(EUA)申请，疫苗将用于18岁及以上成人的新冠肺炎预防。这是FDA授权的首个单剂量新冠肺炎疫苗，也是其授权的第三支新冠肺炎疫苗。美国疾病控制与预防中心国家免疫和呼吸系统疾病中心主任Nancy Messonnier表示，强生的新冠肺炎疫苗“在很多情况下令操作更为容易”。“我认为国家卫生部门对这些疫苗的很多考虑更多的是关于强生疫苗的易用性以及可及性。”紧急使用授权(EUA)的条款允许在收集更多数据的同时使用该疫苗。强生计划在2021年下半年向FDA提交生物制品许可申请。美疫苗接种速度或将加快 最近几周，美国卫生官员敦促美国人尽快接种疫苗。官员们越来越担心新出现的病毒变种对抗疫工作产生影响。上周五，美国疾病控制与预防中心主任Rochelle Walensky警告称，随着变异病毒的传播，美国1月初以来报告的新冠肺炎病例数量的下降趋势可能会趋于停滞。FDA表示，基于美国联邦政府的计划，下周将向全国各州、药房和社区健康中心分发近400万剂强生疫苗。密苏里大学堪萨斯分校医学院教授 Jay Portnoy表示，“我们现在就需要推出这种疫苗”。他补充称，“我们很着急”，因为变异的病毒对美国抗击疫情的进展构成了威胁。芝加哥医学院传染病专家Archana Chatterjee表示，强生的疫苗将帮助美国政府“满足当前的需求”，因为各州抱怨辉瑞和Moderna的疫苗供应不足。与辉瑞和Moderna的疫苗不同，强生公司的一剂疫苗方案无需患者再来注射第二剂，而且可以在冰箱温度下保存数月。据强生公司透露，强生公司单剂量新冠肺炎疫苗可采用标准的疫苗储存和分发渠道，方便交付到偏远地区。预计该单剂量疫苗可在-20 C(-4F)的条件下在2年内保持稳定，在2-8 C(36F-46F)常规冷藏条件下最多可在3个月内保持稳定。不过，强生公司也表示，最初的剂量是有限的。强生公司杨森传染病和疫苗子公司美国媒介事务副总裁Richard Nettles于近日对美国众议院议员表示，强生预计到3月底将交付2000万剂疫苗。强生公司已与美国政府达成协议，将在6月底前供应1亿剂强生公司的疫苗。美国政府官员称，他们正在与强生合作，尽快增加供应，将根据CDC免疫接种咨询委员会(ACIP)指南确定优先接种人群。疫苗无特殊安全性问题 此次强生公司的新冠肺炎疫苗是使用一种被称为腺病毒26型(Ad26)的特定病毒生产的。这种疫苗使用Ad26传递一段DNA或遗传物质，用于制造新冠病毒特有的“刺突”蛋白。被改造成疫苗的Ad26不能在人体内复制并引起疾病。在接种这种疫苗后，人的身体会暂时产生“刺突”蛋白，这种蛋白虽不会导致疾病，但会触发免疫系统的防御反应，进而对新冠病毒产生免疫反应。就在疫苗获得紧急授权批准前，强生公司还报告了两例疫苗接种者的严重过敏反应。该公司临床开发和医疗事务主管Macaya Douoguih在周五告诉FDA称，有两人在接种疫苗后不久发生了严重的过敏反应。其中一位来自南非的接种者出现了严重的、危及生命的过敏反应。不过，FDA疫苗和相关生物产品咨询委员会认为，没有发现强生疫苗存在特殊安全性问题。根据FDA周三公布的一份报告，头痛、疲劳和肌肉疼痛是接种疫苗人群中最常见的副作用。FDA官员Peter Marks强调，“经过对数据的彻底分析，FDA的科学家和医生已经确定，该疫苗符合FDA对其安全性和有效性的预期，适合紧急使用。”强生公司于2月4日向FDA提交了其新冠肺炎疫苗的数据。该公司称，FDA的决定基于所获得的所有科学证据，包括来自3期ENSEMBLE研究的数据。临床试验数据显示，强生疫苗单剂接种14天以后，对新冠中症到重症的保护效力为大约67%；28天以后保护效力为66%。此外，这款疫苗接种14天以后对新冠重症的保护效力为大约77%，28天后这一数据为85%。根据公开数据，辉瑞与BioNTech联合研发的新冠肺炎疫苗有效性达到95%，Moderna研发的新冠肺炎疫苗有效性约为94%尽管强生公司的新冠肺炎疫苗有效性数据不及另外两种疫苗，但是传染病专家指出，三种疫苗不能直接通过数字进行对比，因为强生公司的新冠肺炎疫苗是单剂疫苗，而且该公司的临床试验是在有更多感染病例和新的更具传染性病毒变种的情况下进行的。FDA表示，将批准一种安全且至少50%有效的新冠肺炎疫苗。美国疾病控制与预防中心的数据显示，相比之下，接种流感疫苗通常能将人们患流感的风险降低40%至60%。
Japanese News:
ジョンソン・エンド・ジョンソンが第4四半期決算を発表した。売上高は市場予想を上回り、一株あたり利益（EPS）は市場予想を上回る結果となった。 ● 売上高：$22.52B (市場予想：$22.46B、) ● EPS：$2.04 (市場予想：$2.02、) ジョンソン・エンド・ジョンソンの年初来変動率は2%となっており、低調なパフォーマンスで推移している。またジョンソン・エンド・ジョンソンを構成銘柄とするNYダウの年初来変動率は3.48%となっている。 ジョンソン・エンド・ジョンソン以外の医療銘柄決算情報 ユナイテッドヘルスも第4四半期決算を発表している。売上高は市場予想を下回り$100.8B（予想：$101.61B）に、一株あたり利益（EPS）は市場予想を上回る結果の$6.81（予想：$6.74）となった。 またネオゲンの第2四半期決算では、売上高は市場予想を上回り$231.3M（予想：$226.19M）に、一株あたり利益（EPS）は市場予想を上回る結果の$0.11（$-0.01）であった。
Spanish News:
La farmacéutica Johnson & Johnson anunció este martes una estimación de beneficios para el año 2021 que supera las previsiones del mercado, y además aseguró que publicará próximamente los esperados resultados de los ensayos clínicos de su vacuna contra el coronavirus. Anteriormente, la empresa había indicado que revelaría estos resultados para finales de enero. Esto ocurre en un contexto en el que la lucha global contra la pandemia depende en gran medida del suministro suficiente y oportuno de múltiples vacunas. Johnson & Johnson, conocida también por su amplia gama de dispositivos médicos además de su actividad farmacéutica, anticipa para este año una ganancia ajustada de entre 9,40 y 9,60 dólares por acción, cifra superior a la expectativa promedio de los analistas de 8,99 dólares, según datos proporcionados por IBES de Refinitiv. En contraste, las ganancias de la compañía durante el cuarto trimestre del año anterior se redujeron un 56,7%, alcanzando solo 1.740 millones de dólares, debido principalmente a gastos legales de aproximadamente 2.900 millones de dólares relacionados con litigios. Entre estas demandas legales se encuentran casos relacionados con la venta de opioides, complicaciones por sus mallas vaginales y litigios vinculados a su línea de talcos. Por otro lado, las ventas del último trimestre aumentaron hasta alcanzar los 22.480 millones de dólares frente a los 20.750 millones registrados en el mismo periodo del año previo, impulsadas principalmente por la creciente demanda de medicamentos oncológicos.
Greek News:
Η εταιρεία Johnson & Johnson έδωσε ιδιαίτερη έμφαση στην Έρευνα και Ανάπτυξη (R&D), αυξάνοντας το 2020 τις σχετικές δαπάνες κατά 7,1%, στα $ 12,16 δισεκατομμύρια, από $ 11,36 δισεκατομμύρια το 2019. Η άνοδος αυτή ανέβασε το ποσοστό των δαπανών R&D στο 14,7% των συνολικών πωλήσεων, έναντι 13,8% την προηγούμενη χρονιά. Η αύξηση αποδίδεται κυρίως στη μεγαλύτερη συμβολή των πωλήσεων στον φαρμακευτικό τομέα, την εντατικοποίηση των επενδύσεων στον κλάδο των Ιατρικών Συσκευών, ιδιαίτερα στη ρομποτική και σε ψηφιακές πρωτοβουλίες αλλά και στην ανάπτυξη του φαρμακευτικού χαρτοφυλακίου της εταιρείας, με αιχμή το εμβόλιο κατά του COVID-19. Παράλληλα, η Johnson & Johnson συνεχίζει να επενδύει στρατηγικά στην παγκόσμια επέκταση του κλάδου R&D, διαθέτοντας εγκαταστάσεις σε κρίσιμες αγορές όπως οι ΗΠΑ, η Κίνα και η Γερμανία, ενώ παρέχει επιπλέον υποστήριξη σε περισσότερες από 30 χώρες διεθνώς. Η εταιρεία επικεντρώνεται τόσο στην ανάπτυξη νέων καινοτόμων προϊόντων όσο και στη συνεχή βελτίωση της αποτελεσματικότητας και της συμμόρφωσης με τους κανονισμούς, θέτοντας την έρευνα ως βασικό μοχλό βιώσιμης ανάπτυξης και ανταγωνιστικότητας σε ένα διαρκώς μεταβαλλόμενο περιβάλλον.
Question:
Please list the top three focuses on revenue from news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | Please list the top three focuses on revenue from news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | 1.oncology pharmaceuticals
2. medical devices
3. COVID-19 vaccine development,
Financial Statement Evidence:
R&D expense: $12,159M; Total sales to customers increased to $82,584M in 2020 from $82,059M in 2019 (Income Statement). |
JNJ_20210222 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:-------------------------------------------------------------------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | 2020 | | 2019 | | | | | | | | |
| Assets | | | | | | | | | | | |
| Current assets | | | | | | | | | | | |
| Cash and cash equivalents (Notes 1 and 2) | $ | 13,985 | | | 17,305 | | | | | | |
| Marketable securities (Notes 1 and 2) | 11,200 | | | 1,982 | | | | | | | |
| Accounts receivable trade, less allowances for doubtful accounts $293(2019, $226) | 13,576 | | | 14,481 | | | | | | | |
| Inventories (Notes 1 and 3) | 9,344 | | | 9,020 | | | | | | | |
| | | | | | | | | | | | |
| Prepaid expenses and other receivables | 3,132 | | | 2,392 | | | | | | | |
| Assets held for sale (Note 18) | — | | | 94 | | | | | | | |
| Total current assets | 51,237 | | | 45,274 | | | | | | | |
| Property, plant and equipment, net (Notes 1 and 4) | 18,766 | | | 17,658 | | | | | | | |
| Intangible assets, net (Notes 1 and 5) | 53,402 | | | 47,643 | | | | | | | |
| Goodwill (Notes 1 and 5) | 36,393 | | | 33,639 | | | | | | | |
| Deferred taxes on income (Note 8) | 8,534 | | | 7,819 | | | | | | | |
| Other assets | 6,562 | | | 5,695 | | | | | | | |
| Total assets | $ | 174,894 | | | 157,728 | | | | | | |
| Liabilities and Shareholders’ Equity | | | | | | | | | | | |
| Current liabilities | | | | | | | | | | | |
| Loans and notes payable (Note 7) | $ | 2,631 | | | 1,202 | | | | | | |
| Accounts payable | 9,505 | | | 8,544 | | | | | | | |
| Accrued liabilities | 13,968 | | | 9,715 | | | | | | | |
| Accrued rebates, returns and promotions | 11,513 | | | 10,883 | | | | | | | |
| Accrued compensation and employee related obligations | 3,484 | | | 3,354 | | | | | | | |
| Accrued taxes on income (Note 8) | 1,392 | | | 2,266 | | | | | | | |
| Total current liabilities | 42,493 | | | 35,964 | | | | | | | |
| Long-term debt (Note 7) | 32,635 | | | 26,494 | | | | | | | |
| Deferred taxes on income (Note 8) | 7,214 | | | 5,958 | | | | | | | |
| Employee related obligations (Notes 9 and 10) | 10,771 | | | 10,663 | | | | | | | |
| Long-term taxes payable (Note 1) | 6,559 | | | 7,444 | | | | | | | |
| Other liabilities | 11,944 | | | 11,734 | | | | | | | |
| Total liabilities | 111,616 | | | 98,257 | | | | | | | |
| Commitments and Contingencies (Note 19) | | | | | | | | | | | |
| Shareholders’ equity | | | | | | | | | | | |
| Preferred stock — without par value (authorized and unissued2,000,000shares) | — | | | — | | | | | | | |
| Common stock — par value $1.00per share (Note 12) (authorized4,320,000,000shares; issued3,119,843,000shares) | 3,120 | | | 3,120 | | | | | | | |
| Accumulated other comprehensive income (loss) (Note 13) | (15,242) | | | (15,891) | | | | | | | |
| Retained earnings | 113,890 | | | 110,659 | | | | | | | |
| | 101,768 | | | 97,888 | | | | | | | |
| Less: common stock held in treasury, at cost (Note 12) (487,331,000shares and487,336,000shares) | 38,490 | | | 38,417 | | | | | | | |
| Total shareholders’ equity | 63,278 | | | 59,471 | | | | | | | |
| Total liabilities and shareholders’ equity | $ | 174,894 | | | 157,728 | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 |
|:------------------------------------------------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | |
| | 2020 | | 2019 | | 2018 | | | | | | | | | | | | |
| Cash flows from operating activities | | | | | | | | | | | | | | | | | |
| Net earnings | $ | 14,714 | | | 15,119 | | | 15,297 | | | | | | | | | |
| Adjustments to reconcile net earnings to cash flows from operating activities: | | | | | | | | | | | | | | | | | |
| Depreciation and amortization of property and intangibles | 7,231 | | | 7,009 | | | 6,929 | | | | | | | | | | |
| Stock based compensation | 1,005 | | | 977 | | | 978 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | |
| Asset write-downs | 233 | | | 1,096 | | | 1,258 | | | | | | | | | | |
| Contingent consideration reversal | (1,148) | | | — | | | — | | | | | | | | | | |
| Net gain on sale of assets/businesses | (111) | | | (2,154) | | | (1,217) | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | |
| Deferred tax provision | (1,141) | | | (2,476) | | | (1,016) | | | | | | | | | | |
| Credit losses and accounts receivable allowances | 63 | | | (20) | | | (31) | | | | | | | | | | |
| Changes in assets and liabilities, net of effects from acquisitions and divestitures: | | | | | | | | | | | | | | | | | |
| Decrease/(Increase) in accounts receivable | 774 | | | (289) | | | (1,185) | | | | | | | | | | |
| Increase in inventories | (265) | | | (277) | | | (644) | | | | | | | | | | |
| Increase in accounts payable and accrued liabilities | 5,141 | | | 4,060 | | | 3,951 | | | | | | | | | | |
| Increase in other current and non-current assets | (3,704) | | | (1,054) | | | (275) | | | | | | | | | | |
| Increase/(Decrease) in other current and non-current liabilities | 744 | | | 1,425 | | | (1,844) | | | | | | | | | | |
| Net cash flows from operating activities | 23,536 | | | 23,416 | | | 22,201 | | | | | | | | | | |
| Cash flows from investing activities | | | | | | | | | | | | | | | | | |
| Additions to property, plant and equipment | (3,347) | | | (3,498) | | | (3,670) | | | | | | | | | | |
| Proceeds from the disposal of assets/businesses, net | 305 | | | 3,265 | | | 3,203 | | | | | | | | | | |
| Acquisitions, net of cash acquired (Note 18) | (7,323) | | | (5,810) | | | (899) | | | | | | | | | | |
| Purchases of investments | (21,089) | | | (3,920) | | | (5,626) | | | | | | | | | | |
| Sales of investments | 12,137 | | | 3,387 | | | 4,289 | | | | | | | | | | |
| Credit support agreements activity, net | (987) | | | 338 | | | — | | | | | | | | | | |
| Other (primarily licenses and milestones) | (521) | | | 44 | | | (464) | | | | | | | | | | |
| Net cash used by investing activities | (20,825) | | | (6,194) | | | (3,167) | | | | | | | | | | |
| Cash flows from financing activities | | | | | | | | | | | | | | | | | |
| Dividends to shareholders | (10,481) | | | (9,917) | | | (9,494) | | | | | | | | | | |
| Repurchase of common stock | (3,221) | | | (6,746) | | | (5,868) | | | | | | | | | | |
| Proceeds from short-term debt | 3,391 | | | 39 | | | 80 | | | | | | | | | | |
| Repayment of short-term debt | (2,663) | | | (100) | | | (2,479) | | | | | | | | | | |
| Proceeds from long-term debt, net of issuance costs | 7,431 | | | 3 | | | 5 | | | | | | | | | | |
| Repayment of long-term debt | (1,064) | | | (2,823) | | | (1,555) | | | | | | | | | | |
| Proceeds from the exercise of stock options/employee withholding tax on stock awards, net | 1,114 | | | 954 | | | 949 | | | | | | | | | | |
| Credit support agreements activity, net | (333) | | | 100 | | | 25 | | | | | | | | | | |
| Other | (294) | | | 475 | | | (173) | | | | | | | | | | |
| Net cash used by financing activities | (6,120) | | | (18,015) | | | (18,510) | | | | | | | | | | |
| Effect of exchange rate changes on cash and cash equivalents | 89 | | | (9) | | | (241) | | | | | | | | | | |
| (Decrease)/Increase in cash and cash equivalents | (3,320) | | | (802) | | | 283 | | | | | | | | | | |
| Cash and cash equivalents, beginning of year (Note 1) | 17,305 | | | 18,107 | | | 17,824 | | | | | | | | | | |
| Cash and cash equivalents, end of year (Note 1) | $ | 13,985 | | | 17,305 | | | 18,107 | | | | | | | | | |
| | | | | | | | | | | | | | | | | | |
| Supplemental cash flow data | | | | | | | | | | | | | | | | | |
| Cash paid during the year for: | | | | | | | | | | | | | | | | | |
| Interest | $ | 904 | | | 995 | | | 1,049 | | | | | | | | | |
| Interest, net of amount capitalized | 841 | | | 925 | | | 963 | | | | | | | | | | |
| Income taxes | 4,619 | | | 4,191 | | | 4,570 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 |
|:------------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | |
| | 2020 | | 2019 | | 2018 | | | | | | | | | | | | |
| Sales to customers | $ | 82,584 | | | 82,059 | | | 81,581 | | | | | | | | | |
| Cost of products sold | 28,427 | | | 27,556 | | | 27,091 | | | | | | | | | | |
| Gross profit | 54,157 | | | 54,503 | | | 54,490 | | | | | | | | | | |
| Selling, marketing and administrative expenses | 22,084 | | | 22,178 | | | 22,540 | | | | | | | | | | |
| Research and development expense | 12,159 | | | 11,355 | | | 10,775 | | | | | | | | | | |
| In-process research and development (Note 5) | 181 | | | 890 | | | 1,126 | | | | | | | | | | |
| Interest income | (111) | | | (357) | | | (611) | | | | | | | | | | |
| Interest expense, net of portion capitalized (Note 4) | 201 | | | 318 | | | 1,005 | | | | | | | | | | |
| Other (income) expense, net | 2,899 | | | 2,525 | | | 1,405 | | | | | | | | | | |
| Restructuring (Note 20) | 247 | | | 266 | | | 251 | | | | | | | | | | |
| Earnings before provision for taxes on income | 16,497 | | | 17,328 | | | 17,999 | | | | | | | | | | |
| Provision for taxes on income (Note 8) | 1,783 | | | 2,209 | | | 2,702 | | | | | | | | | | |
| Net earnings | $ | 14,714 | | | 15,119 | | | 15,297 | | | | | | | | | |
| | | | | | | | | | | | | | | | | | |
| Net earnings per share (Notes 1 and 15) | | | | | | | | | | | | | | | | | |
| Basic | $ | 5.59 | | | 5.72 | | | 5.70 | | | | | | | | | |
| Diluted | $ | 5.51 | | | 5.63 | | | 5.61 | | | | | | | | | |
| Average shares outstanding (Notes 1 and 15) | | | | | | | | | | | | | | | | | |
| Basic | 2,632.8 | | | 2,645.1 | | | 2,681.5 | | | | | | | | | | |
| Diluted | 2,670.7 | | | 2,684.3 | | | 2,728.7 | | | | | | | | | | |
---
English News:
The \"Pharmaceutical Treatments for Mental Health Disorders: Global Markets\" report has been added to ResearchAndMarkets.com's offering. This new report on the market for pharmaceutical treatments for mental health disorders provides a brief overview of the pharmaceutical markets, current and future treatments, as well as drug failure/withdrawals and barriers to entry. It examines changes in healthcare regulation and guidance in the development of new agents and reviews activity in mergers and acquisitions that will help to change future treatment paradigms. Report Includes: 46 data tables and 12 additional tables An overview of the global markets for pharmaceutical treatments for mental health disorders Analyses of market trends, with data from 2019, 2020 and projections of compound annual growth rates (CAGRs) through 2025 Evaluation of current market trends, market size, market forecast, pipeline analysis of new products, and regulatory scenarios and detailed analysis of drivers, challenges, and opportunities affecting market growth Description of biological factors such as anatomical, chemical and genetic traits, and psychological reasons such as conflict or trauma on the mental health and discussion on effect of COIVD-19 pandemic, social distancing and social isolation on the mental health conditions A look at the markets for treatment of psychiatric disorders such as depression, anxiety and obsessive-compulsive disorder (OCD) and their co relation with COVID-19 Details of technological advances and improvement in the development of pharmacological treatments, digital therapeutics (DTx) and cognitive behavioural therapy (CBT) Information on tele mental health software such as ReSet, Pears Somryst and Alkili's EndeavorRx which offers personalized treatment strategies and behavioural healthcare platform which plays an important role in the management of mental health disorders Snapshot of leading mental health conditions, and products in phase III development for selected psychiatric disorders Analysis of recent product developments including pharmacological and digital therapeutics, late-stage pipeline products and points of differentiation from existing therapies Market share analysis of the key companies of the industry, their strategic profiling, their competitive landscape and their detailed company profiles including, Eli Lilly, Johnson & Johnson, Pfizer, Takeda, and Shionogi It is estimated that mental health disorders affect one in four adults each year and are the leading cause of impairment and disability across the globe. Mental health disorders refer to a wide range of mental health disorders that affect mood, thinking and behavior. These conditions can occur either due to biological factors such as anatomical, chemical and genetic traits, or psychological reasons such as conflict or trauma. Market research suggests that mental health conditions are likely to rise in the near future due to the consequences of COIVD-19 pandemic, social distancing and social isolation. Reasons for Doing This Study: The treatment of mental health disorders is complex and often involves pharmacological and behavioral interventions. Diagnosis can be challenging, as symptoms can be complicated by comorbid conditions. This report highlights the current diagnosis and treatment of leading mental health disorders and highlights the clinical unmet needs that new formulations, treatment combinations and new mechanisms of action to address or change the future treatment paradigm of these prevalent conditions. There are also several external factors, including changing regulatory guidance and the impact of the COVID-19 pandemic, which may increase access and reimbursement to medication and digital therapeutics to address unmet medical needs. Key Topics Covered: Chapter 1 Introduction Study Goals and Objectives Reasons for Doing This Study Scope of Report Information Sources Methodology Geographic Breakdown Analyst's Credentials Custom Research Related Reports Chapter 2 Summary and Highlights Chapter 3 Depression and Anxiety Market Landscape Segmentation by Drug Class Segmentation by Company Prevalence of Disorders Diagnosis Current Treatments Selective Serotonin Reuptake Inhibitors (SSRIs) Serotonin and Norepinephrine Reuptake Inhibitors (SNRIs) Norepinephrine-Dopamine Reuptake Inhibitors (NDRIs) Tricyclic Antidepressants (TCAs) Monoamine Oxidase Inhibitors (MAOIs) Atypical Antipsychotics and Second-Generation Antipsychotics (SGAs) Benzodiazepines Recent Drug Developments Drug/Company Late-Stage Drug Failures/Withdrawals Drugs in Clinical Development to Treat Depression Phase 3 Drugs in Development to Treat Depression Phase 2 Drugs in Development to Treat Depression Drugs in Clinical Development to Treat Anxiety Phase 3 Drugs in Development to Treat Anxiety Phase 2 Drugs in Development to Treat Anxiety Alternative Approaches Digital Therapeutics M&A Activity Future Opportunities Chapter 4 Attention Deficit Hyperactivity Disorder Market Landscape Segmentation by Geography Segmentation by Drug Class Segmentation by Company Prevalence Diagnosis Current Treatments Recent Drug Developments Drugs/Companies Late-Stage Drug Failures/Withdrawals Drugs in Clinical Development to Treat ADHD Phase 3 Drugs in Development to Treat ADHD Phase 2 Drugs in Development to Treat ADHD Alternative Approaches Digital Therapeutics M&A Activity Future Opportunities Chapter 5 Schizophrenia Market Landscape Segmentation by Geography Segmentation by Drug Class Segmentation by Company Prevalence Diagnosis Current Treatments Recent Drug Developments Drugs/Companies Late-Stage Drug Failures/Withdrawals Drugs in Clinical Development to Treat Schizophrenia Phase 3 Drugs in Development to Treat Schizophrenia Phase 2 Drugs in Development to Treat Schizophrenia Alternative Approaches Digital Therapeutics M&A Activity Future Opportunities Chapter 6 Substance Use Disorders Market Landscape Segmentation by Geography Segmentation by Drug Class Segmentation by Company Prevalence Diagnosis Current Treatments Opioid Use Disorders Alcohol Use Disorders Nicotine Use Disorders Recent Drug Developments Drugs in Clinical Development to Substance Abuse Disorder Phase 3 Drugs in Development to Treat Substance Use Disorders Phase 2 Drugs in Development to Treat Substance Use Disorder Alternative Approaches Digital Therapeutics M&A Activity Future Opportunities Chapter 7 Company Profiles Pharmaceutical Companies Abbvie Alkermes Plc Astrazeneca Plc Boehringer Ingelheim International Gmbh Eli Lilly & Co. Glaxosmithkline Plc H Lundbeck A/S Johnson & Johnson Otsuka Holdings Co. Ltd. Pfizer Inc. Shionogi & Co. Ltd. Takeda Pharmaceuticals Co. Ltd. Specialty Pharma And Biotechs Acadia Pharmaceuticals Inc. Adamis Pharmaceuticals Corp. Bioxcel Therapeutics Inc. Intra-Cellular Therapies Inc. Intervexion Therapeutics Ironshore Pharmaceuticals Kempharm Inc. Minerva Neurosciences Inc. Neos Therapeutics Inc. NLS Pharmaceutical Ag Noven Pharmaceuticals Inc. Sage Therapeutics Supernus Pharmaceuticals, Inc. Tonix Pharmaceuticals Holdings Corp. Tris Pharma Inc. Digital Therapeutic Companies Orexo Ab Pear Therapeutics For more information about this report visit https://www.researchandmarkets.com/r/qbmxm9 Media Contact: Research and Markets Laura Wood, Senior Manager [emailprotected] For E.S.T Office Hours Call +1-917-300-0470 For U.S./CAN Toll Free Call +1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 U.S. Fax: 646-607-1907 Fax (outside U.S.): +353-1-481-1716 SOURCE Research and Markets Related Links http://www.researchandmarkets.com
Chinese News:
FDA认为，强生公司的新冠肺炎疫苗虽然有效性低于辉瑞和Moderna，但是仍安全有效。北京时间2月28日早上，美国食品与药品监督管理局(FDA)已批准强生公司旗下杨森制药公司研发的单剂量新冠肺炎疫苗紧急使用授权(EUA)申请，疫苗将用于18岁及以上成人的新冠肺炎预防。这是FDA授权的首个单剂量新冠肺炎疫苗，也是其授权的第三支新冠肺炎疫苗。美国疾病控制与预防中心国家免疫和呼吸系统疾病中心主任Nancy Messonnier表示，强生的新冠肺炎疫苗“在很多情况下令操作更为容易”。“我认为国家卫生部门对这些疫苗的很多考虑更多的是关于强生疫苗的易用性以及可及性。”紧急使用授权(EUA)的条款允许在收集更多数据的同时使用该疫苗。强生计划在2021年下半年向FDA提交生物制品许可申请。美疫苗接种速度或将加快 最近几周，美国卫生官员敦促美国人尽快接种疫苗。官员们越来越担心新出现的病毒变种对抗疫工作产生影响。上周五，美国疾病控制与预防中心主任Rochelle Walensky警告称，随着变异病毒的传播，美国1月初以来报告的新冠肺炎病例数量的下降趋势可能会趋于停滞。FDA表示，基于美国联邦政府的计划，下周将向全国各州、药房和社区健康中心分发近400万剂强生疫苗。密苏里大学堪萨斯分校医学院教授 Jay Portnoy表示，“我们现在就需要推出这种疫苗”。他补充称，“我们很着急”，因为变异的病毒对美国抗击疫情的进展构成了威胁。芝加哥医学院传染病专家Archana Chatterjee表示，强生的疫苗将帮助美国政府“满足当前的需求”，因为各州抱怨辉瑞和Moderna的疫苗供应不足。与辉瑞和Moderna的疫苗不同，强生公司的一剂疫苗方案无需患者再来注射第二剂，而且可以在冰箱温度下保存数月。据强生公司透露，强生公司单剂量新冠肺炎疫苗可采用标准的疫苗储存和分发渠道，方便交付到偏远地区。预计该单剂量疫苗可在-20 C(-4F)的条件下在2年内保持稳定，在2-8 C(36F-46F)常规冷藏条件下最多可在3个月内保持稳定。不过，强生公司也表示，最初的剂量是有限的。强生公司杨森传染病和疫苗子公司美国媒介事务副总裁Richard Nettles于近日对美国众议院议员表示，强生预计到3月底将交付2000万剂疫苗。强生公司已与美国政府达成协议，将在6月底前供应1亿剂强生公司的疫苗。美国政府官员称，他们正在与强生合作，尽快增加供应，将根据CDC免疫接种咨询委员会(ACIP)指南确定优先接种人群。疫苗无特殊安全性问题 此次强生公司的新冠肺炎疫苗是使用一种被称为腺病毒26型(Ad26)的特定病毒生产的。这种疫苗使用Ad26传递一段DNA或遗传物质，用于制造新冠病毒特有的“刺突”蛋白。被改造成疫苗的Ad26不能在人体内复制并引起疾病。在接种这种疫苗后，人的身体会暂时产生“刺突”蛋白，这种蛋白虽不会导致疾病，但会触发免疫系统的防御反应，进而对新冠病毒产生免疫反应。就在疫苗获得紧急授权批准前，强生公司还报告了两例疫苗接种者的严重过敏反应。该公司临床开发和医疗事务主管Macaya Douoguih在周五告诉FDA称，有两人在接种疫苗后不久发生了严重的过敏反应。其中一位来自南非的接种者出现了严重的、危及生命的过敏反应。不过，FDA疫苗和相关生物产品咨询委员会认为，没有发现强生疫苗存在特殊安全性问题。根据FDA周三公布的一份报告，头痛、疲劳和肌肉疼痛是接种疫苗人群中最常见的副作用。FDA官员Peter Marks强调，“经过对数据的彻底分析，FDA的科学家和医生已经确定，该疫苗符合FDA对其安全性和有效性的预期，适合紧急使用。”强生公司于2月4日向FDA提交了其新冠肺炎疫苗的数据。该公司称，FDA的决定基于所获得的所有科学证据，包括来自3期ENSEMBLE研究的数据。临床试验数据显示，强生疫苗单剂接种14天以后，对新冠中症到重症的保护效力为大约67%；28天以后保护效力为66%。此外，这款疫苗接种14天以后对新冠重症的保护效力为大约77%，28天后这一数据为85%。根据公开数据，辉瑞与BioNTech联合研发的新冠肺炎疫苗有效性达到95%，Moderna研发的新冠肺炎疫苗有效性约为94%尽管强生公司的新冠肺炎疫苗有效性数据不及另外两种疫苗，但是传染病专家指出，三种疫苗不能直接通过数字进行对比，因为强生公司的新冠肺炎疫苗是单剂疫苗，而且该公司的临床试验是在有更多感染病例和新的更具传染性病毒变种的情况下进行的。FDA表示，将批准一种安全且至少50%有效的新冠肺炎疫苗。美国疾病控制与预防中心的数据显示，相比之下，接种流感疫苗通常能将人们患流感的风险降低40%至60%。
Japanese News:
ジョンソン・エンド・ジョンソンが第4四半期決算を発表した。売上高は市場予想を上回り、一株あたり利益（EPS）は市場予想を上回る結果となった。 ● 売上高：$22.52B (市場予想：$22.46B、) ● EPS：$2.04 (市場予想：$2.02、) ジョンソン・エンド・ジョンソンの年初来変動率は2%となっており、低調なパフォーマンスで推移している。またジョンソン・エンド・ジョンソンを構成銘柄とするNYダウの年初来変動率は3.48%となっている。 ジョンソン・エンド・ジョンソン以外の医療銘柄決算情報 ユナイテッドヘルスも第4四半期決算を発表している。売上高は市場予想を下回り$100.8B（予想：$101.61B）に、一株あたり利益（EPS）は市場予想を上回る結果の$6.81（予想：$6.74）となった。 またネオゲンの第2四半期決算では、売上高は市場予想を上回り$231.3M（予想：$226.19M）に、一株あたり利益（EPS）は市場予想を上回る結果の$0.11（$-0.01）であった。
Spanish News:
La farmacéutica Johnson & Johnson anunció este martes una estimación de beneficios para el año 2021 que supera las previsiones del mercado, y además aseguró que publicará próximamente los esperados resultados de los ensayos clínicos de su vacuna contra el coronavirus. Anteriormente, la empresa había indicado que revelaría estos resultados para finales de enero. Esto ocurre en un contexto en el que la lucha global contra la pandemia depende en gran medida del suministro suficiente y oportuno de múltiples vacunas. Johnson & Johnson, conocida también por su amplia gama de dispositivos médicos además de su actividad farmacéutica, anticipa para este año una ganancia ajustada de entre 9,40 y 9,60 dólares por acción, cifra superior a la expectativa promedio de los analistas de 8,99 dólares, según datos proporcionados por IBES de Refinitiv. En contraste, las ganancias de la compañía durante el cuarto trimestre del año anterior se redujeron un 56,7%, alcanzando solo 1.740 millones de dólares, debido principalmente a gastos legales de aproximadamente 2.900 millones de dólares relacionados con litigios. Entre estas demandas legales se encuentran casos relacionados con la venta de opioides, complicaciones por sus mallas vaginales y litigios vinculados a su línea de talcos. Por otro lado, las ventas del último trimestre aumentaron hasta alcanzar los 22.480 millones de dólares frente a los 20.750 millones registrados en el mismo periodo del año previo, impulsadas principalmente por la creciente demanda de medicamentos oncológicos.
Greek News:
Η εταιρεία Johnson & Johnson έδωσε ιδιαίτερη έμφαση στην Έρευνα και Ανάπτυξη (R&D), αυξάνοντας το 2020 τις σχετικές δαπάνες κατά 7,1%, στα $ 12,16 δισεκατομμύρια, από $ 11,36 δισεκατομμύρια το 2019. Η άνοδος αυτή ανέβασε το ποσοστό των δαπανών R&D στο 14,7% των συνολικών πωλήσεων, έναντι 13,8% την προηγούμενη χρονιά. Η αύξηση αποδίδεται κυρίως στη μεγαλύτερη συμβολή των πωλήσεων στον φαρμακευτικό τομέα, την εντατικοποίηση των επενδύσεων στον κλάδο των Ιατρικών Συσκευών, ιδιαίτερα στη ρομποτική και σε ψηφιακές πρωτοβουλίες αλλά και στην ανάπτυξη του φαρμακευτικού χαρτοφυλακίου της εταιρείας, με αιχμή το εμβόλιο κατά του COVID-19. Παράλληλα, η Johnson & Johnson συνεχίζει να επενδύει στρατηγικά στην παγκόσμια επέκταση του κλάδου R&D, διαθέτοντας εγκαταστάσεις σε κρίσιμες αγορές όπως οι ΗΠΑ, η Κίνα και η Γερμανία, ενώ παρέχει επιπλέον υποστήριξη σε περισσότερες από 30 χώρες διεθνώς. Η εταιρεία επικεντρώνεται τόσο στην ανάπτυξη νέων καινοτόμων προϊόντων όσο και στη συνεχή βελτίωση της αποτελεσματικότητας και της συμμόρφωσης με τους κανονισμούς, θέτοντας την έρευνα ως βασικό μοχλό βιώσιμης ανάπτυξης και ανταγωνιστικότητας σε ένα διαρκώς μεταβαλλόμενο περιβάλλον.
Question:
How is the company allocating capital (e.g., investments, share repurchases, dividends) based on its performance and market outlook from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | How is the company allocating capital (e.g., investments, share repurchases, dividends) based on its performance and market outlook from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Johnson & Johnson is allocating capital through strategic investments in R&D and infrastructure to support growth in pharmaceuticals and medical devices. The company spent $12.2B on R&D and $3.3B on property, plant, and equipment.
Financial Statement Evidence:
R&D expense: $$12,159M; Additions to property, plant and equipment: $3,347M |
JNJ_20210222 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:-------------------------------------------------------------------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | 2020 | | 2019 | | | | | | | | |
| Assets | | | | | | | | | | | |
| Current assets | | | | | | | | | | | |
| Cash and cash equivalents (Notes 1 and 2) | $ | 13,985 | | | 17,305 | | | | | | |
| Marketable securities (Notes 1 and 2) | 11,200 | | | 1,982 | | | | | | | |
| Accounts receivable trade, less allowances for doubtful accounts $293(2019, $226) | 13,576 | | | 14,481 | | | | | | | |
| Inventories (Notes 1 and 3) | 9,344 | | | 9,020 | | | | | | | |
| | | | | | | | | | | | |
| Prepaid expenses and other receivables | 3,132 | | | 2,392 | | | | | | | |
| Assets held for sale (Note 18) | — | | | 94 | | | | | | | |
| Total current assets | 51,237 | | | 45,274 | | | | | | | |
| Property, plant and equipment, net (Notes 1 and 4) | 18,766 | | | 17,658 | | | | | | | |
| Intangible assets, net (Notes 1 and 5) | 53,402 | | | 47,643 | | | | | | | |
| Goodwill (Notes 1 and 5) | 36,393 | | | 33,639 | | | | | | | |
| Deferred taxes on income (Note 8) | 8,534 | | | 7,819 | | | | | | | |
| Other assets | 6,562 | | | 5,695 | | | | | | | |
| Total assets | $ | 174,894 | | | 157,728 | | | | | | |
| Liabilities and Shareholders’ Equity | | | | | | | | | | | |
| Current liabilities | | | | | | | | | | | |
| Loans and notes payable (Note 7) | $ | 2,631 | | | 1,202 | | | | | | |
| Accounts payable | 9,505 | | | 8,544 | | | | | | | |
| Accrued liabilities | 13,968 | | | 9,715 | | | | | | | |
| Accrued rebates, returns and promotions | 11,513 | | | 10,883 | | | | | | | |
| Accrued compensation and employee related obligations | 3,484 | | | 3,354 | | | | | | | |
| Accrued taxes on income (Note 8) | 1,392 | | | 2,266 | | | | | | | |
| Total current liabilities | 42,493 | | | 35,964 | | | | | | | |
| Long-term debt (Note 7) | 32,635 | | | 26,494 | | | | | | | |
| Deferred taxes on income (Note 8) | 7,214 | | | 5,958 | | | | | | | |
| Employee related obligations (Notes 9 and 10) | 10,771 | | | 10,663 | | | | | | | |
| Long-term taxes payable (Note 1) | 6,559 | | | 7,444 | | | | | | | |
| Other liabilities | 11,944 | | | 11,734 | | | | | | | |
| Total liabilities | 111,616 | | | 98,257 | | | | | | | |
| Commitments and Contingencies (Note 19) | | | | | | | | | | | |
| Shareholders’ equity | | | | | | | | | | | |
| Preferred stock — without par value (authorized and unissued2,000,000shares) | — | | | — | | | | | | | |
| Common stock — par value $1.00per share (Note 12) (authorized4,320,000,000shares; issued3,119,843,000shares) | 3,120 | | | 3,120 | | | | | | | |
| Accumulated other comprehensive income (loss) (Note 13) | (15,242) | | | (15,891) | | | | | | | |
| Retained earnings | 113,890 | | | 110,659 | | | | | | | |
| | 101,768 | | | 97,888 | | | | | | | |
| Less: common stock held in treasury, at cost (Note 12) (487,331,000shares and487,336,000shares) | 38,490 | | | 38,417 | | | | | | | |
| Total shareholders’ equity | 63,278 | | | 59,471 | | | | | | | |
| Total liabilities and shareholders’ equity | $ | 174,894 | | | 157,728 | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 |
|:------------------------------------------------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | |
| | 2020 | | 2019 | | 2018 | | | | | | | | | | | | |
| Cash flows from operating activities | | | | | | | | | | | | | | | | | |
| Net earnings | $ | 14,714 | | | 15,119 | | | 15,297 | | | | | | | | | |
| Adjustments to reconcile net earnings to cash flows from operating activities: | | | | | | | | | | | | | | | | | |
| Depreciation and amortization of property and intangibles | 7,231 | | | 7,009 | | | 6,929 | | | | | | | | | | |
| Stock based compensation | 1,005 | | | 977 | | | 978 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | |
| Asset write-downs | 233 | | | 1,096 | | | 1,258 | | | | | | | | | | |
| Contingent consideration reversal | (1,148) | | | — | | | — | | | | | | | | | | |
| Net gain on sale of assets/businesses | (111) | | | (2,154) | | | (1,217) | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | |
| Deferred tax provision | (1,141) | | | (2,476) | | | (1,016) | | | | | | | | | | |
| Credit losses and accounts receivable allowances | 63 | | | (20) | | | (31) | | | | | | | | | | |
| Changes in assets and liabilities, net of effects from acquisitions and divestitures: | | | | | | | | | | | | | | | | | |
| Decrease/(Increase) in accounts receivable | 774 | | | (289) | | | (1,185) | | | | | | | | | | |
| Increase in inventories | (265) | | | (277) | | | (644) | | | | | | | | | | |
| Increase in accounts payable and accrued liabilities | 5,141 | | | 4,060 | | | 3,951 | | | | | | | | | | |
| Increase in other current and non-current assets | (3,704) | | | (1,054) | | | (275) | | | | | | | | | | |
| Increase/(Decrease) in other current and non-current liabilities | 744 | | | 1,425 | | | (1,844) | | | | | | | | | | |
| Net cash flows from operating activities | 23,536 | | | 23,416 | | | 22,201 | | | | | | | | | | |
| Cash flows from investing activities | | | | | | | | | | | | | | | | | |
| Additions to property, plant and equipment | (3,347) | | | (3,498) | | | (3,670) | | | | | | | | | | |
| Proceeds from the disposal of assets/businesses, net | 305 | | | 3,265 | | | 3,203 | | | | | | | | | | |
| Acquisitions, net of cash acquired (Note 18) | (7,323) | | | (5,810) | | | (899) | | | | | | | | | | |
| Purchases of investments | (21,089) | | | (3,920) | | | (5,626) | | | | | | | | | | |
| Sales of investments | 12,137 | | | 3,387 | | | 4,289 | | | | | | | | | | |
| Credit support agreements activity, net | (987) | | | 338 | | | — | | | | | | | | | | |
| Other (primarily licenses and milestones) | (521) | | | 44 | | | (464) | | | | | | | | | | |
| Net cash used by investing activities | (20,825) | | | (6,194) | | | (3,167) | | | | | | | | | | |
| Cash flows from financing activities | | | | | | | | | | | | | | | | | |
| Dividends to shareholders | (10,481) | | | (9,917) | | | (9,494) | | | | | | | | | | |
| Repurchase of common stock | (3,221) | | | (6,746) | | | (5,868) | | | | | | | | | | |
| Proceeds from short-term debt | 3,391 | | | 39 | | | 80 | | | | | | | | | | |
| Repayment of short-term debt | (2,663) | | | (100) | | | (2,479) | | | | | | | | | | |
| Proceeds from long-term debt, net of issuance costs | 7,431 | | | 3 | | | 5 | | | | | | | | | | |
| Repayment of long-term debt | (1,064) | | | (2,823) | | | (1,555) | | | | | | | | | | |
| Proceeds from the exercise of stock options/employee withholding tax on stock awards, net | 1,114 | | | 954 | | | 949 | | | | | | | | | | |
| Credit support agreements activity, net | (333) | | | 100 | | | 25 | | | | | | | | | | |
| Other | (294) | | | 475 | | | (173) | | | | | | | | | | |
| Net cash used by financing activities | (6,120) | | | (18,015) | | | (18,510) | | | | | | | | | | |
| Effect of exchange rate changes on cash and cash equivalents | 89 | | | (9) | | | (241) | | | | | | | | | | |
| (Decrease)/Increase in cash and cash equivalents | (3,320) | | | (802) | | | 283 | | | | | | | | | | |
| Cash and cash equivalents, beginning of year (Note 1) | 17,305 | | | 18,107 | | | 17,824 | | | | | | | | | | |
| Cash and cash equivalents, end of year (Note 1) | $ | 13,985 | | | 17,305 | | | 18,107 | | | | | | | | | |
| | | | | | | | | | | | | | | | | | |
| Supplemental cash flow data | | | | | | | | | | | | | | | | | |
| Cash paid during the year for: | | | | | | | | | | | | | | | | | |
| Interest | $ | 904 | | | 995 | | | 1,049 | | | | | | | | | |
| Interest, net of amount capitalized | 841 | | | 925 | | | 963 | | | | | | | | | | |
| Income taxes | 4,619 | | | 4,191 | | | 4,570 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 |
|:------------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | |
| | 2020 | | 2019 | | 2018 | | | | | | | | | | | | |
| Sales to customers | $ | 82,584 | | | 82,059 | | | 81,581 | | | | | | | | | |
| Cost of products sold | 28,427 | | | 27,556 | | | 27,091 | | | | | | | | | | |
| Gross profit | 54,157 | | | 54,503 | | | 54,490 | | | | | | | | | | |
| Selling, marketing and administrative expenses | 22,084 | | | 22,178 | | | 22,540 | | | | | | | | | | |
| Research and development expense | 12,159 | | | 11,355 | | | 10,775 | | | | | | | | | | |
| In-process research and development (Note 5) | 181 | | | 890 | | | 1,126 | | | | | | | | | | |
| Interest income | (111) | | | (357) | | | (611) | | | | | | | | | | |
| Interest expense, net of portion capitalized (Note 4) | 201 | | | 318 | | | 1,005 | | | | | | | | | | |
| Other (income) expense, net | 2,899 | | | 2,525 | | | 1,405 | | | | | | | | | | |
| Restructuring (Note 20) | 247 | | | 266 | | | 251 | | | | | | | | | | |
| Earnings before provision for taxes on income | 16,497 | | | 17,328 | | | 17,999 | | | | | | | | | | |
| Provision for taxes on income (Note 8) | 1,783 | | | 2,209 | | | 2,702 | | | | | | | | | | |
| Net earnings | $ | 14,714 | | | 15,119 | | | 15,297 | | | | | | | | | |
| | | | | | | | | | | | | | | | | | |
| Net earnings per share (Notes 1 and 15) | | | | | | | | | | | | | | | | | |
| Basic | $ | 5.59 | | | 5.72 | | | 5.70 | | | | | | | | | |
| Diluted | $ | 5.51 | | | 5.63 | | | 5.61 | | | | | | | | | |
| Average shares outstanding (Notes 1 and 15) | | | | | | | | | | | | | | | | | |
| Basic | 2,632.8 | | | 2,645.1 | | | 2,681.5 | | | | | | | | | | |
| Diluted | 2,670.7 | | | 2,684.3 | | | 2,728.7 | | | | | | | | | | |
---
English News:
The \"Pharmaceutical Treatments for Mental Health Disorders: Global Markets\" report has been added to ResearchAndMarkets.com's offering. This new report on the market for pharmaceutical treatments for mental health disorders provides a brief overview of the pharmaceutical markets, current and future treatments, as well as drug failure/withdrawals and barriers to entry. It examines changes in healthcare regulation and guidance in the development of new agents and reviews activity in mergers and acquisitions that will help to change future treatment paradigms. Report Includes: 46 data tables and 12 additional tables An overview of the global markets for pharmaceutical treatments for mental health disorders Analyses of market trends, with data from 2019, 2020 and projections of compound annual growth rates (CAGRs) through 2025 Evaluation of current market trends, market size, market forecast, pipeline analysis of new products, and regulatory scenarios and detailed analysis of drivers, challenges, and opportunities affecting market growth Description of biological factors such as anatomical, chemical and genetic traits, and psychological reasons such as conflict or trauma on the mental health and discussion on effect of COIVD-19 pandemic, social distancing and social isolation on the mental health conditions A look at the markets for treatment of psychiatric disorders such as depression, anxiety and obsessive-compulsive disorder (OCD) and their co relation with COVID-19 Details of technological advances and improvement in the development of pharmacological treatments, digital therapeutics (DTx) and cognitive behavioural therapy (CBT) Information on tele mental health software such as ReSet, Pears Somryst and Alkili's EndeavorRx which offers personalized treatment strategies and behavioural healthcare platform which plays an important role in the management of mental health disorders Snapshot of leading mental health conditions, and products in phase III development for selected psychiatric disorders Analysis of recent product developments including pharmacological and digital therapeutics, late-stage pipeline products and points of differentiation from existing therapies Market share analysis of the key companies of the industry, their strategic profiling, their competitive landscape and their detailed company profiles including, Eli Lilly, Johnson & Johnson, Pfizer, Takeda, and Shionogi It is estimated that mental health disorders affect one in four adults each year and are the leading cause of impairment and disability across the globe. Mental health disorders refer to a wide range of mental health disorders that affect mood, thinking and behavior. These conditions can occur either due to biological factors such as anatomical, chemical and genetic traits, or psychological reasons such as conflict or trauma. Market research suggests that mental health conditions are likely to rise in the near future due to the consequences of COIVD-19 pandemic, social distancing and social isolation. Reasons for Doing This Study: The treatment of mental health disorders is complex and often involves pharmacological and behavioral interventions. Diagnosis can be challenging, as symptoms can be complicated by comorbid conditions. This report highlights the current diagnosis and treatment of leading mental health disorders and highlights the clinical unmet needs that new formulations, treatment combinations and new mechanisms of action to address or change the future treatment paradigm of these prevalent conditions. There are also several external factors, including changing regulatory guidance and the impact of the COVID-19 pandemic, which may increase access and reimbursement to medication and digital therapeutics to address unmet medical needs. Key Topics Covered: Chapter 1 Introduction Study Goals and Objectives Reasons for Doing This Study Scope of Report Information Sources Methodology Geographic Breakdown Analyst's Credentials Custom Research Related Reports Chapter 2 Summary and Highlights Chapter 3 Depression and Anxiety Market Landscape Segmentation by Drug Class Segmentation by Company Prevalence of Disorders Diagnosis Current Treatments Selective Serotonin Reuptake Inhibitors (SSRIs) Serotonin and Norepinephrine Reuptake Inhibitors (SNRIs) Norepinephrine-Dopamine Reuptake Inhibitors (NDRIs) Tricyclic Antidepressants (TCAs) Monoamine Oxidase Inhibitors (MAOIs) Atypical Antipsychotics and Second-Generation Antipsychotics (SGAs) Benzodiazepines Recent Drug Developments Drug/Company Late-Stage Drug Failures/Withdrawals Drugs in Clinical Development to Treat Depression Phase 3 Drugs in Development to Treat Depression Phase 2 Drugs in Development to Treat Depression Drugs in Clinical Development to Treat Anxiety Phase 3 Drugs in Development to Treat Anxiety Phase 2 Drugs in Development to Treat Anxiety Alternative Approaches Digital Therapeutics M&A Activity Future Opportunities Chapter 4 Attention Deficit Hyperactivity Disorder Market Landscape Segmentation by Geography Segmentation by Drug Class Segmentation by Company Prevalence Diagnosis Current Treatments Recent Drug Developments Drugs/Companies Late-Stage Drug Failures/Withdrawals Drugs in Clinical Development to Treat ADHD Phase 3 Drugs in Development to Treat ADHD Phase 2 Drugs in Development to Treat ADHD Alternative Approaches Digital Therapeutics M&A Activity Future Opportunities Chapter 5 Schizophrenia Market Landscape Segmentation by Geography Segmentation by Drug Class Segmentation by Company Prevalence Diagnosis Current Treatments Recent Drug Developments Drugs/Companies Late-Stage Drug Failures/Withdrawals Drugs in Clinical Development to Treat Schizophrenia Phase 3 Drugs in Development to Treat Schizophrenia Phase 2 Drugs in Development to Treat Schizophrenia Alternative Approaches Digital Therapeutics M&A Activity Future Opportunities Chapter 6 Substance Use Disorders Market Landscape Segmentation by Geography Segmentation by Drug Class Segmentation by Company Prevalence Diagnosis Current Treatments Opioid Use Disorders Alcohol Use Disorders Nicotine Use Disorders Recent Drug Developments Drugs in Clinical Development to Substance Abuse Disorder Phase 3 Drugs in Development to Treat Substance Use Disorders Phase 2 Drugs in Development to Treat Substance Use Disorder Alternative Approaches Digital Therapeutics M&A Activity Future Opportunities Chapter 7 Company Profiles Pharmaceutical Companies Abbvie Alkermes Plc Astrazeneca Plc Boehringer Ingelheim International Gmbh Eli Lilly & Co. Glaxosmithkline Plc H Lundbeck A/S Johnson & Johnson Otsuka Holdings Co. Ltd. Pfizer Inc. Shionogi & Co. Ltd. Takeda Pharmaceuticals Co. Ltd. Specialty Pharma And Biotechs Acadia Pharmaceuticals Inc. Adamis Pharmaceuticals Corp. Bioxcel Therapeutics Inc. Intra-Cellular Therapies Inc. Intervexion Therapeutics Ironshore Pharmaceuticals Kempharm Inc. Minerva Neurosciences Inc. Neos Therapeutics Inc. NLS Pharmaceutical Ag Noven Pharmaceuticals Inc. Sage Therapeutics Supernus Pharmaceuticals, Inc. Tonix Pharmaceuticals Holdings Corp. Tris Pharma Inc. Digital Therapeutic Companies Orexo Ab Pear Therapeutics For more information about this report visit https://www.researchandmarkets.com/r/qbmxm9 Media Contact: Research and Markets Laura Wood, Senior Manager [emailprotected] For E.S.T Office Hours Call +1-917-300-0470 For U.S./CAN Toll Free Call +1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 U.S. Fax: 646-607-1907 Fax (outside U.S.): +353-1-481-1716 SOURCE Research and Markets Related Links http://www.researchandmarkets.com
Chinese News:
FDA认为，强生公司的新冠肺炎疫苗虽然有效性低于辉瑞和Moderna，但是仍安全有效。北京时间2月28日早上，美国食品与药品监督管理局(FDA)已批准强生公司旗下杨森制药公司研发的单剂量新冠肺炎疫苗紧急使用授权(EUA)申请，疫苗将用于18岁及以上成人的新冠肺炎预防。这是FDA授权的首个单剂量新冠肺炎疫苗，也是其授权的第三支新冠肺炎疫苗。美国疾病控制与预防中心国家免疫和呼吸系统疾病中心主任Nancy Messonnier表示，强生的新冠肺炎疫苗“在很多情况下令操作更为容易”。“我认为国家卫生部门对这些疫苗的很多考虑更多的是关于强生疫苗的易用性以及可及性。”紧急使用授权(EUA)的条款允许在收集更多数据的同时使用该疫苗。强生计划在2021年下半年向FDA提交生物制品许可申请。美疫苗接种速度或将加快 最近几周，美国卫生官员敦促美国人尽快接种疫苗。官员们越来越担心新出现的病毒变种对抗疫工作产生影响。上周五，美国疾病控制与预防中心主任Rochelle Walensky警告称，随着变异病毒的传播，美国1月初以来报告的新冠肺炎病例数量的下降趋势可能会趋于停滞。FDA表示，基于美国联邦政府的计划，下周将向全国各州、药房和社区健康中心分发近400万剂强生疫苗。密苏里大学堪萨斯分校医学院教授 Jay Portnoy表示，“我们现在就需要推出这种疫苗”。他补充称，“我们很着急”，因为变异的病毒对美国抗击疫情的进展构成了威胁。芝加哥医学院传染病专家Archana Chatterjee表示，强生的疫苗将帮助美国政府“满足当前的需求”，因为各州抱怨辉瑞和Moderna的疫苗供应不足。与辉瑞和Moderna的疫苗不同，强生公司的一剂疫苗方案无需患者再来注射第二剂，而且可以在冰箱温度下保存数月。据强生公司透露，强生公司单剂量新冠肺炎疫苗可采用标准的疫苗储存和分发渠道，方便交付到偏远地区。预计该单剂量疫苗可在-20 C(-4F)的条件下在2年内保持稳定，在2-8 C(36F-46F)常规冷藏条件下最多可在3个月内保持稳定。不过，强生公司也表示，最初的剂量是有限的。强生公司杨森传染病和疫苗子公司美国媒介事务副总裁Richard Nettles于近日对美国众议院议员表示，强生预计到3月底将交付2000万剂疫苗。强生公司已与美国政府达成协议，将在6月底前供应1亿剂强生公司的疫苗。美国政府官员称，他们正在与强生合作，尽快增加供应，将根据CDC免疫接种咨询委员会(ACIP)指南确定优先接种人群。疫苗无特殊安全性问题 此次强生公司的新冠肺炎疫苗是使用一种被称为腺病毒26型(Ad26)的特定病毒生产的。这种疫苗使用Ad26传递一段DNA或遗传物质，用于制造新冠病毒特有的“刺突”蛋白。被改造成疫苗的Ad26不能在人体内复制并引起疾病。在接种这种疫苗后，人的身体会暂时产生“刺突”蛋白，这种蛋白虽不会导致疾病，但会触发免疫系统的防御反应，进而对新冠病毒产生免疫反应。就在疫苗获得紧急授权批准前，强生公司还报告了两例疫苗接种者的严重过敏反应。该公司临床开发和医疗事务主管Macaya Douoguih在周五告诉FDA称，有两人在接种疫苗后不久发生了严重的过敏反应。其中一位来自南非的接种者出现了严重的、危及生命的过敏反应。不过，FDA疫苗和相关生物产品咨询委员会认为，没有发现强生疫苗存在特殊安全性问题。根据FDA周三公布的一份报告，头痛、疲劳和肌肉疼痛是接种疫苗人群中最常见的副作用。FDA官员Peter Marks强调，“经过对数据的彻底分析，FDA的科学家和医生已经确定，该疫苗符合FDA对其安全性和有效性的预期，适合紧急使用。”强生公司于2月4日向FDA提交了其新冠肺炎疫苗的数据。该公司称，FDA的决定基于所获得的所有科学证据，包括来自3期ENSEMBLE研究的数据。临床试验数据显示，强生疫苗单剂接种14天以后，对新冠中症到重症的保护效力为大约67%；28天以后保护效力为66%。此外，这款疫苗接种14天以后对新冠重症的保护效力为大约77%，28天后这一数据为85%。根据公开数据，辉瑞与BioNTech联合研发的新冠肺炎疫苗有效性达到95%，Moderna研发的新冠肺炎疫苗有效性约为94%尽管强生公司的新冠肺炎疫苗有效性数据不及另外两种疫苗，但是传染病专家指出，三种疫苗不能直接通过数字进行对比，因为强生公司的新冠肺炎疫苗是单剂疫苗，而且该公司的临床试验是在有更多感染病例和新的更具传染性病毒变种的情况下进行的。FDA表示，将批准一种安全且至少50%有效的新冠肺炎疫苗。美国疾病控制与预防中心的数据显示，相比之下，接种流感疫苗通常能将人们患流感的风险降低40%至60%。
Japanese News:
ジョンソン・エンド・ジョンソンが第4四半期決算を発表した。売上高は市場予想を上回り、一株あたり利益（EPS）は市場予想を上回る結果となった。 ● 売上高：$22.52B (市場予想：$22.46B、) ● EPS：$2.04 (市場予想：$2.02、) ジョンソン・エンド・ジョンソンの年初来変動率は2%となっており、低調なパフォーマンスで推移している。またジョンソン・エンド・ジョンソンを構成銘柄とするNYダウの年初来変動率は3.48%となっている。 ジョンソン・エンド・ジョンソン以外の医療銘柄決算情報 ユナイテッドヘルスも第4四半期決算を発表している。売上高は市場予想を下回り$100.8B（予想：$101.61B）に、一株あたり利益（EPS）は市場予想を上回る結果の$6.81（予想：$6.74）となった。 またネオゲンの第2四半期決算では、売上高は市場予想を上回り$231.3M（予想：$226.19M）に、一株あたり利益（EPS）は市場予想を上回る結果の$0.11（$-0.01）であった。
Spanish News:
La farmacéutica Johnson & Johnson anunció este martes una estimación de beneficios para el año 2021 que supera las previsiones del mercado, y además aseguró que publicará próximamente los esperados resultados de los ensayos clínicos de su vacuna contra el coronavirus. Anteriormente, la empresa había indicado que revelaría estos resultados para finales de enero. Esto ocurre en un contexto en el que la lucha global contra la pandemia depende en gran medida del suministro suficiente y oportuno de múltiples vacunas. Johnson & Johnson, conocida también por su amplia gama de dispositivos médicos además de su actividad farmacéutica, anticipa para este año una ganancia ajustada de entre 9,40 y 9,60 dólares por acción, cifra superior a la expectativa promedio de los analistas de 8,99 dólares, según datos proporcionados por IBES de Refinitiv. En contraste, las ganancias de la compañía durante el cuarto trimestre del año anterior se redujeron un 56,7%, alcanzando solo 1.740 millones de dólares, debido principalmente a gastos legales de aproximadamente 2.900 millones de dólares relacionados con litigios. Entre estas demandas legales se encuentran casos relacionados con la venta de opioides, complicaciones por sus mallas vaginales y litigios vinculados a su línea de talcos. Por otro lado, las ventas del último trimestre aumentaron hasta alcanzar los 22.480 millones de dólares frente a los 20.750 millones registrados en el mismo periodo del año previo, impulsadas principalmente por la creciente demanda de medicamentos oncológicos.
Greek News:
Η εταιρεία Johnson & Johnson έδωσε ιδιαίτερη έμφαση στην Έρευνα και Ανάπτυξη (R&D), αυξάνοντας το 2020 τις σχετικές δαπάνες κατά 7,1%, στα $ 12,16 δισεκατομμύρια, από $ 11,36 δισεκατομμύρια το 2019. Η άνοδος αυτή ανέβασε το ποσοστό των δαπανών R&D στο 14,7% των συνολικών πωλήσεων, έναντι 13,8% την προηγούμενη χρονιά. Η αύξηση αποδίδεται κυρίως στη μεγαλύτερη συμβολή των πωλήσεων στον φαρμακευτικό τομέα, την εντατικοποίηση των επενδύσεων στον κλάδο των Ιατρικών Συσκευών, ιδιαίτερα στη ρομποτική και σε ψηφιακές πρωτοβουλίες αλλά και στην ανάπτυξη του φαρμακευτικού χαρτοφυλακίου της εταιρείας, με αιχμή το εμβόλιο κατά του COVID-19. Παράλληλα, η Johnson & Johnson συνεχίζει να επενδύει στρατηγικά στην παγκόσμια επέκταση του κλάδου R&D, διαθέτοντας εγκαταστάσεις σε κρίσιμες αγορές όπως οι ΗΠΑ, η Κίνα και η Γερμανία, ενώ παρέχει επιπλέον υποστήριξη σε περισσότερες από 30 χώρες διεθνώς. Η εταιρεία επικεντρώνεται τόσο στην ανάπτυξη νέων καινοτόμων προϊόντων όσο και στη συνεχή βελτίωση της αποτελεσματικότητας και της συμμόρφωσης με τους κανονισμούς, θέτοντας την έρευνα ως βασικό μοχλό βιώσιμης ανάπτυξης και ανταγωνιστικότητας σε ένα διαρκώς μεταβαλλόμενο περιβάλλον.
Question:
What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Johnson & Johnson focuses on scaling high-demand products like oncology drugs and COVID-19 vaccines while advancing digital and robotic medical technologies to maintain profit margins.
Financial Statement Evidence:
Selling, marketing, and administrative expenses: $22,084M; Net earnings decreased to $14,714M from $15,119M |
JNJ_20210222 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:-------------------------------------------------------------------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | 2020 | | 2019 | | | | | | | | |
| Assets | | | | | | | | | | | |
| Current assets | | | | | | | | | | | |
| Cash and cash equivalents (Notes 1 and 2) | $ | 13,985 | | | 17,305 | | | | | | |
| Marketable securities (Notes 1 and 2) | 11,200 | | | 1,982 | | | | | | | |
| Accounts receivable trade, less allowances for doubtful accounts $293(2019, $226) | 13,576 | | | 14,481 | | | | | | | |
| Inventories (Notes 1 and 3) | 9,344 | | | 9,020 | | | | | | | |
| | | | | | | | | | | | |
| Prepaid expenses and other receivables | 3,132 | | | 2,392 | | | | | | | |
| Assets held for sale (Note 18) | — | | | 94 | | | | | | | |
| Total current assets | 51,237 | | | 45,274 | | | | | | | |
| Property, plant and equipment, net (Notes 1 and 4) | 18,766 | | | 17,658 | | | | | | | |
| Intangible assets, net (Notes 1 and 5) | 53,402 | | | 47,643 | | | | | | | |
| Goodwill (Notes 1 and 5) | 36,393 | | | 33,639 | | | | | | | |
| Deferred taxes on income (Note 8) | 8,534 | | | 7,819 | | | | | | | |
| Other assets | 6,562 | | | 5,695 | | | | | | | |
| Total assets | $ | 174,894 | | | 157,728 | | | | | | |
| Liabilities and Shareholders’ Equity | | | | | | | | | | | |
| Current liabilities | | | | | | | | | | | |
| Loans and notes payable (Note 7) | $ | 2,631 | | | 1,202 | | | | | | |
| Accounts payable | 9,505 | | | 8,544 | | | | | | | |
| Accrued liabilities | 13,968 | | | 9,715 | | | | | | | |
| Accrued rebates, returns and promotions | 11,513 | | | 10,883 | | | | | | | |
| Accrued compensation and employee related obligations | 3,484 | | | 3,354 | | | | | | | |
| Accrued taxes on income (Note 8) | 1,392 | | | 2,266 | | | | | | | |
| Total current liabilities | 42,493 | | | 35,964 | | | | | | | |
| Long-term debt (Note 7) | 32,635 | | | 26,494 | | | | | | | |
| Deferred taxes on income (Note 8) | 7,214 | | | 5,958 | | | | | | | |
| Employee related obligations (Notes 9 and 10) | 10,771 | | | 10,663 | | | | | | | |
| Long-term taxes payable (Note 1) | 6,559 | | | 7,444 | | | | | | | |
| Other liabilities | 11,944 | | | 11,734 | | | | | | | |
| Total liabilities | 111,616 | | | 98,257 | | | | | | | |
| Commitments and Contingencies (Note 19) | | | | | | | | | | | |
| Shareholders’ equity | | | | | | | | | | | |
| Preferred stock — without par value (authorized and unissued2,000,000shares) | — | | | — | | | | | | | |
| Common stock — par value $1.00per share (Note 12) (authorized4,320,000,000shares; issued3,119,843,000shares) | 3,120 | | | 3,120 | | | | | | | |
| Accumulated other comprehensive income (loss) (Note 13) | (15,242) | | | (15,891) | | | | | | | |
| Retained earnings | 113,890 | | | 110,659 | | | | | | | |
| | 101,768 | | | 97,888 | | | | | | | |
| Less: common stock held in treasury, at cost (Note 12) (487,331,000shares and487,336,000shares) | 38,490 | | | 38,417 | | | | | | | |
| Total shareholders’ equity | 63,278 | | | 59,471 | | | | | | | |
| Total liabilities and shareholders’ equity | $ | 174,894 | | | 157,728 | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 |
|:------------------------------------------------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | |
| | 2020 | | 2019 | | 2018 | | | | | | | | | | | | |
| Cash flows from operating activities | | | | | | | | | | | | | | | | | |
| Net earnings | $ | 14,714 | | | 15,119 | | | 15,297 | | | | | | | | | |
| Adjustments to reconcile net earnings to cash flows from operating activities: | | | | | | | | | | | | | | | | | |
| Depreciation and amortization of property and intangibles | 7,231 | | | 7,009 | | | 6,929 | | | | | | | | | | |
| Stock based compensation | 1,005 | | | 977 | | | 978 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | |
| Asset write-downs | 233 | | | 1,096 | | | 1,258 | | | | | | | | | | |
| Contingent consideration reversal | (1,148) | | | — | | | — | | | | | | | | | | |
| Net gain on sale of assets/businesses | (111) | | | (2,154) | | | (1,217) | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | |
| Deferred tax provision | (1,141) | | | (2,476) | | | (1,016) | | | | | | | | | | |
| Credit losses and accounts receivable allowances | 63 | | | (20) | | | (31) | | | | | | | | | | |
| Changes in assets and liabilities, net of effects from acquisitions and divestitures: | | | | | | | | | | | | | | | | | |
| Decrease/(Increase) in accounts receivable | 774 | | | (289) | | | (1,185) | | | | | | | | | | |
| Increase in inventories | (265) | | | (277) | | | (644) | | | | | | | | | | |
| Increase in accounts payable and accrued liabilities | 5,141 | | | 4,060 | | | 3,951 | | | | | | | | | | |
| Increase in other current and non-current assets | (3,704) | | | (1,054) | | | (275) | | | | | | | | | | |
| Increase/(Decrease) in other current and non-current liabilities | 744 | | | 1,425 | | | (1,844) | | | | | | | | | | |
| Net cash flows from operating activities | 23,536 | | | 23,416 | | | 22,201 | | | | | | | | | | |
| Cash flows from investing activities | | | | | | | | | | | | | | | | | |
| Additions to property, plant and equipment | (3,347) | | | (3,498) | | | (3,670) | | | | | | | | | | |
| Proceeds from the disposal of assets/businesses, net | 305 | | | 3,265 | | | 3,203 | | | | | | | | | | |
| Acquisitions, net of cash acquired (Note 18) | (7,323) | | | (5,810) | | | (899) | | | | | | | | | | |
| Purchases of investments | (21,089) | | | (3,920) | | | (5,626) | | | | | | | | | | |
| Sales of investments | 12,137 | | | 3,387 | | | 4,289 | | | | | | | | | | |
| Credit support agreements activity, net | (987) | | | 338 | | | — | | | | | | | | | | |
| Other (primarily licenses and milestones) | (521) | | | 44 | | | (464) | | | | | | | | | | |
| Net cash used by investing activities | (20,825) | | | (6,194) | | | (3,167) | | | | | | | | | | |
| Cash flows from financing activities | | | | | | | | | | | | | | | | | |
| Dividends to shareholders | (10,481) | | | (9,917) | | | (9,494) | | | | | | | | | | |
| Repurchase of common stock | (3,221) | | | (6,746) | | | (5,868) | | | | | | | | | | |
| Proceeds from short-term debt | 3,391 | | | 39 | | | 80 | | | | | | | | | | |
| Repayment of short-term debt | (2,663) | | | (100) | | | (2,479) | | | | | | | | | | |
| Proceeds from long-term debt, net of issuance costs | 7,431 | | | 3 | | | 5 | | | | | | | | | | |
| Repayment of long-term debt | (1,064) | | | (2,823) | | | (1,555) | | | | | | | | | | |
| Proceeds from the exercise of stock options/employee withholding tax on stock awards, net | 1,114 | | | 954 | | | 949 | | | | | | | | | | |
| Credit support agreements activity, net | (333) | | | 100 | | | 25 | | | | | | | | | | |
| Other | (294) | | | 475 | | | (173) | | | | | | | | | | |
| Net cash used by financing activities | (6,120) | | | (18,015) | | | (18,510) | | | | | | | | | | |
| Effect of exchange rate changes on cash and cash equivalents | 89 | | | (9) | | | (241) | | | | | | | | | | |
| (Decrease)/Increase in cash and cash equivalents | (3,320) | | | (802) | | | 283 | | | | | | | | | | |
| Cash and cash equivalents, beginning of year (Note 1) | 17,305 | | | 18,107 | | | 17,824 | | | | | | | | | | |
| Cash and cash equivalents, end of year (Note 1) | $ | 13,985 | | | 17,305 | | | 18,107 | | | | | | | | | |
| | | | | | | | | | | | | | | | | | |
| Supplemental cash flow data | | | | | | | | | | | | | | | | | |
| Cash paid during the year for: | | | | | | | | | | | | | | | | | |
| Interest | $ | 904 | | | 995 | | | 1,049 | | | | | | | | | |
| Interest, net of amount capitalized | 841 | | | 925 | | | 963 | | | | | | | | | | |
| Income taxes | 4,619 | | | 4,191 | | | 4,570 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 |
|:------------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | |
| | 2020 | | 2019 | | 2018 | | | | | | | | | | | | |
| Sales to customers | $ | 82,584 | | | 82,059 | | | 81,581 | | | | | | | | | |
| Cost of products sold | 28,427 | | | 27,556 | | | 27,091 | | | | | | | | | | |
| Gross profit | 54,157 | | | 54,503 | | | 54,490 | | | | | | | | | | |
| Selling, marketing and administrative expenses | 22,084 | | | 22,178 | | | 22,540 | | | | | | | | | | |
| Research and development expense | 12,159 | | | 11,355 | | | 10,775 | | | | | | | | | | |
| In-process research and development (Note 5) | 181 | | | 890 | | | 1,126 | | | | | | | | | | |
| Interest income | (111) | | | (357) | | | (611) | | | | | | | | | | |
| Interest expense, net of portion capitalized (Note 4) | 201 | | | 318 | | | 1,005 | | | | | | | | | | |
| Other (income) expense, net | 2,899 | | | 2,525 | | | 1,405 | | | | | | | | | | |
| Restructuring (Note 20) | 247 | | | 266 | | | 251 | | | | | | | | | | |
| Earnings before provision for taxes on income | 16,497 | | | 17,328 | | | 17,999 | | | | | | | | | | |
| Provision for taxes on income (Note 8) | 1,783 | | | 2,209 | | | 2,702 | | | | | | | | | | |
| Net earnings | $ | 14,714 | | | 15,119 | | | 15,297 | | | | | | | | | |
| | | | | | | | | | | | | | | | | | |
| Net earnings per share (Notes 1 and 15) | | | | | | | | | | | | | | | | | |
| Basic | $ | 5.59 | | | 5.72 | | | 5.70 | | | | | | | | | |
| Diluted | $ | 5.51 | | | 5.63 | | | 5.61 | | | | | | | | | |
| Average shares outstanding (Notes 1 and 15) | | | | | | | | | | | | | | | | | |
| Basic | 2,632.8 | | | 2,645.1 | | | 2,681.5 | | | | | | | | | | |
| Diluted | 2,670.7 | | | 2,684.3 | | | 2,728.7 | | | | | | | | | | |
---
English News:
The \"Pharmaceutical Treatments for Mental Health Disorders: Global Markets\" report has been added to ResearchAndMarkets.com's offering. This new report on the market for pharmaceutical treatments for mental health disorders provides a brief overview of the pharmaceutical markets, current and future treatments, as well as drug failure/withdrawals and barriers to entry. It examines changes in healthcare regulation and guidance in the development of new agents and reviews activity in mergers and acquisitions that will help to change future treatment paradigms. Report Includes: 46 data tables and 12 additional tables An overview of the global markets for pharmaceutical treatments for mental health disorders Analyses of market trends, with data from 2019, 2020 and projections of compound annual growth rates (CAGRs) through 2025 Evaluation of current market trends, market size, market forecast, pipeline analysis of new products, and regulatory scenarios and detailed analysis of drivers, challenges, and opportunities affecting market growth Description of biological factors such as anatomical, chemical and genetic traits, and psychological reasons such as conflict or trauma on the mental health and discussion on effect of COIVD-19 pandemic, social distancing and social isolation on the mental health conditions A look at the markets for treatment of psychiatric disorders such as depression, anxiety and obsessive-compulsive disorder (OCD) and their co relation with COVID-19 Details of technological advances and improvement in the development of pharmacological treatments, digital therapeutics (DTx) and cognitive behavioural therapy (CBT) Information on tele mental health software such as ReSet, Pears Somryst and Alkili's EndeavorRx which offers personalized treatment strategies and behavioural healthcare platform which plays an important role in the management of mental health disorders Snapshot of leading mental health conditions, and products in phase III development for selected psychiatric disorders Analysis of recent product developments including pharmacological and digital therapeutics, late-stage pipeline products and points of differentiation from existing therapies Market share analysis of the key companies of the industry, their strategic profiling, their competitive landscape and their detailed company profiles including, Eli Lilly, Johnson & Johnson, Pfizer, Takeda, and Shionogi It is estimated that mental health disorders affect one in four adults each year and are the leading cause of impairment and disability across the globe. Mental health disorders refer to a wide range of mental health disorders that affect mood, thinking and behavior. These conditions can occur either due to biological factors such as anatomical, chemical and genetic traits, or psychological reasons such as conflict or trauma. Market research suggests that mental health conditions are likely to rise in the near future due to the consequences of COIVD-19 pandemic, social distancing and social isolation. Reasons for Doing This Study: The treatment of mental health disorders is complex and often involves pharmacological and behavioral interventions. Diagnosis can be challenging, as symptoms can be complicated by comorbid conditions. This report highlights the current diagnosis and treatment of leading mental health disorders and highlights the clinical unmet needs that new formulations, treatment combinations and new mechanisms of action to address or change the future treatment paradigm of these prevalent conditions. There are also several external factors, including changing regulatory guidance and the impact of the COVID-19 pandemic, which may increase access and reimbursement to medication and digital therapeutics to address unmet medical needs. Key Topics Covered: Chapter 1 Introduction Study Goals and Objectives Reasons for Doing This Study Scope of Report Information Sources Methodology Geographic Breakdown Analyst's Credentials Custom Research Related Reports Chapter 2 Summary and Highlights Chapter 3 Depression and Anxiety Market Landscape Segmentation by Drug Class Segmentation by Company Prevalence of Disorders Diagnosis Current Treatments Selective Serotonin Reuptake Inhibitors (SSRIs) Serotonin and Norepinephrine Reuptake Inhibitors (SNRIs) Norepinephrine-Dopamine Reuptake Inhibitors (NDRIs) Tricyclic Antidepressants (TCAs) Monoamine Oxidase Inhibitors (MAOIs) Atypical Antipsychotics and Second-Generation Antipsychotics (SGAs) Benzodiazepines Recent Drug Developments Drug/Company Late-Stage Drug Failures/Withdrawals Drugs in Clinical Development to Treat Depression Phase 3 Drugs in Development to Treat Depression Phase 2 Drugs in Development to Treat Depression Drugs in Clinical Development to Treat Anxiety Phase 3 Drugs in Development to Treat Anxiety Phase 2 Drugs in Development to Treat Anxiety Alternative Approaches Digital Therapeutics M&A Activity Future Opportunities Chapter 4 Attention Deficit Hyperactivity Disorder Market Landscape Segmentation by Geography Segmentation by Drug Class Segmentation by Company Prevalence Diagnosis Current Treatments Recent Drug Developments Drugs/Companies Late-Stage Drug Failures/Withdrawals Drugs in Clinical Development to Treat ADHD Phase 3 Drugs in Development to Treat ADHD Phase 2 Drugs in Development to Treat ADHD Alternative Approaches Digital Therapeutics M&A Activity Future Opportunities Chapter 5 Schizophrenia Market Landscape Segmentation by Geography Segmentation by Drug Class Segmentation by Company Prevalence Diagnosis Current Treatments Recent Drug Developments Drugs/Companies Late-Stage Drug Failures/Withdrawals Drugs in Clinical Development to Treat Schizophrenia Phase 3 Drugs in Development to Treat Schizophrenia Phase 2 Drugs in Development to Treat Schizophrenia Alternative Approaches Digital Therapeutics M&A Activity Future Opportunities Chapter 6 Substance Use Disorders Market Landscape Segmentation by Geography Segmentation by Drug Class Segmentation by Company Prevalence Diagnosis Current Treatments Opioid Use Disorders Alcohol Use Disorders Nicotine Use Disorders Recent Drug Developments Drugs in Clinical Development to Substance Abuse Disorder Phase 3 Drugs in Development to Treat Substance Use Disorders Phase 2 Drugs in Development to Treat Substance Use Disorder Alternative Approaches Digital Therapeutics M&A Activity Future Opportunities Chapter 7 Company Profiles Pharmaceutical Companies Abbvie Alkermes Plc Astrazeneca Plc Boehringer Ingelheim International Gmbh Eli Lilly & Co. Glaxosmithkline Plc H Lundbeck A/S Johnson & Johnson Otsuka Holdings Co. Ltd. Pfizer Inc. Shionogi & Co. Ltd. Takeda Pharmaceuticals Co. Ltd. Specialty Pharma And Biotechs Acadia Pharmaceuticals Inc. Adamis Pharmaceuticals Corp. Bioxcel Therapeutics Inc. Intra-Cellular Therapies Inc. Intervexion Therapeutics Ironshore Pharmaceuticals Kempharm Inc. Minerva Neurosciences Inc. Neos Therapeutics Inc. NLS Pharmaceutical Ag Noven Pharmaceuticals Inc. Sage Therapeutics Supernus Pharmaceuticals, Inc. Tonix Pharmaceuticals Holdings Corp. Tris Pharma Inc. Digital Therapeutic Companies Orexo Ab Pear Therapeutics For more information about this report visit https://www.researchandmarkets.com/r/qbmxm9 Media Contact: Research and Markets Laura Wood, Senior Manager [emailprotected] For E.S.T Office Hours Call +1-917-300-0470 For U.S./CAN Toll Free Call +1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 U.S. Fax: 646-607-1907 Fax (outside U.S.): +353-1-481-1716 SOURCE Research and Markets Related Links http://www.researchandmarkets.com
Chinese News:
FDA认为，强生公司的新冠肺炎疫苗虽然有效性低于辉瑞和Moderna，但是仍安全有效。北京时间2月28日早上，美国食品与药品监督管理局(FDA)已批准强生公司旗下杨森制药公司研发的单剂量新冠肺炎疫苗紧急使用授权(EUA)申请，疫苗将用于18岁及以上成人的新冠肺炎预防。这是FDA授权的首个单剂量新冠肺炎疫苗，也是其授权的第三支新冠肺炎疫苗。美国疾病控制与预防中心国家免疫和呼吸系统疾病中心主任Nancy Messonnier表示，强生的新冠肺炎疫苗“在很多情况下令操作更为容易”。“我认为国家卫生部门对这些疫苗的很多考虑更多的是关于强生疫苗的易用性以及可及性。”紧急使用授权(EUA)的条款允许在收集更多数据的同时使用该疫苗。强生计划在2021年下半年向FDA提交生物制品许可申请。美疫苗接种速度或将加快 最近几周，美国卫生官员敦促美国人尽快接种疫苗。官员们越来越担心新出现的病毒变种对抗疫工作产生影响。上周五，美国疾病控制与预防中心主任Rochelle Walensky警告称，随着变异病毒的传播，美国1月初以来报告的新冠肺炎病例数量的下降趋势可能会趋于停滞。FDA表示，基于美国联邦政府的计划，下周将向全国各州、药房和社区健康中心分发近400万剂强生疫苗。密苏里大学堪萨斯分校医学院教授 Jay Portnoy表示，“我们现在就需要推出这种疫苗”。他补充称，“我们很着急”，因为变异的病毒对美国抗击疫情的进展构成了威胁。芝加哥医学院传染病专家Archana Chatterjee表示，强生的疫苗将帮助美国政府“满足当前的需求”，因为各州抱怨辉瑞和Moderna的疫苗供应不足。与辉瑞和Moderna的疫苗不同，强生公司的一剂疫苗方案无需患者再来注射第二剂，而且可以在冰箱温度下保存数月。据强生公司透露，强生公司单剂量新冠肺炎疫苗可采用标准的疫苗储存和分发渠道，方便交付到偏远地区。预计该单剂量疫苗可在-20 C(-4F)的条件下在2年内保持稳定，在2-8 C(36F-46F)常规冷藏条件下最多可在3个月内保持稳定。不过，强生公司也表示，最初的剂量是有限的。强生公司杨森传染病和疫苗子公司美国媒介事务副总裁Richard Nettles于近日对美国众议院议员表示，强生预计到3月底将交付2000万剂疫苗。强生公司已与美国政府达成协议，将在6月底前供应1亿剂强生公司的疫苗。美国政府官员称，他们正在与强生合作，尽快增加供应，将根据CDC免疫接种咨询委员会(ACIP)指南确定优先接种人群。疫苗无特殊安全性问题 此次强生公司的新冠肺炎疫苗是使用一种被称为腺病毒26型(Ad26)的特定病毒生产的。这种疫苗使用Ad26传递一段DNA或遗传物质，用于制造新冠病毒特有的“刺突”蛋白。被改造成疫苗的Ad26不能在人体内复制并引起疾病。在接种这种疫苗后，人的身体会暂时产生“刺突”蛋白，这种蛋白虽不会导致疾病，但会触发免疫系统的防御反应，进而对新冠病毒产生免疫反应。就在疫苗获得紧急授权批准前，强生公司还报告了两例疫苗接种者的严重过敏反应。该公司临床开发和医疗事务主管Macaya Douoguih在周五告诉FDA称，有两人在接种疫苗后不久发生了严重的过敏反应。其中一位来自南非的接种者出现了严重的、危及生命的过敏反应。不过，FDA疫苗和相关生物产品咨询委员会认为，没有发现强生疫苗存在特殊安全性问题。根据FDA周三公布的一份报告，头痛、疲劳和肌肉疼痛是接种疫苗人群中最常见的副作用。FDA官员Peter Marks强调，“经过对数据的彻底分析，FDA的科学家和医生已经确定，该疫苗符合FDA对其安全性和有效性的预期，适合紧急使用。”强生公司于2月4日向FDA提交了其新冠肺炎疫苗的数据。该公司称，FDA的决定基于所获得的所有科学证据，包括来自3期ENSEMBLE研究的数据。临床试验数据显示，强生疫苗单剂接种14天以后，对新冠中症到重症的保护效力为大约67%；28天以后保护效力为66%。此外，这款疫苗接种14天以后对新冠重症的保护效力为大约77%，28天后这一数据为85%。根据公开数据，辉瑞与BioNTech联合研发的新冠肺炎疫苗有效性达到95%，Moderna研发的新冠肺炎疫苗有效性约为94%尽管强生公司的新冠肺炎疫苗有效性数据不及另外两种疫苗，但是传染病专家指出，三种疫苗不能直接通过数字进行对比，因为强生公司的新冠肺炎疫苗是单剂疫苗，而且该公司的临床试验是在有更多感染病例和新的更具传染性病毒变种的情况下进行的。FDA表示，将批准一种安全且至少50%有效的新冠肺炎疫苗。美国疾病控制与预防中心的数据显示，相比之下，接种流感疫苗通常能将人们患流感的风险降低40%至60%。
Japanese News:
ジョンソン・エンド・ジョンソンが第4四半期決算を発表した。売上高は市場予想を上回り、一株あたり利益（EPS）は市場予想を上回る結果となった。 ● 売上高：$22.52B (市場予想：$22.46B、) ● EPS：$2.04 (市場予想：$2.02、) ジョンソン・エンド・ジョンソンの年初来変動率は2%となっており、低調なパフォーマンスで推移している。またジョンソン・エンド・ジョンソンを構成銘柄とするNYダウの年初来変動率は3.48%となっている。 ジョンソン・エンド・ジョンソン以外の医療銘柄決算情報 ユナイテッドヘルスも第4四半期決算を発表している。売上高は市場予想を下回り$100.8B（予想：$101.61B）に、一株あたり利益（EPS）は市場予想を上回る結果の$6.81（予想：$6.74）となった。 またネオゲンの第2四半期決算では、売上高は市場予想を上回り$231.3M（予想：$226.19M）に、一株あたり利益（EPS）は市場予想を上回る結果の$0.11（$-0.01）であった。
Spanish News:
La farmacéutica Johnson & Johnson anunció este martes una estimación de beneficios para el año 2021 que supera las previsiones del mercado, y además aseguró que publicará próximamente los esperados resultados de los ensayos clínicos de su vacuna contra el coronavirus. Anteriormente, la empresa había indicado que revelaría estos resultados para finales de enero. Esto ocurre en un contexto en el que la lucha global contra la pandemia depende en gran medida del suministro suficiente y oportuno de múltiples vacunas. Johnson & Johnson, conocida también por su amplia gama de dispositivos médicos además de su actividad farmacéutica, anticipa para este año una ganancia ajustada de entre 9,40 y 9,60 dólares por acción, cifra superior a la expectativa promedio de los analistas de 8,99 dólares, según datos proporcionados por IBES de Refinitiv. En contraste, las ganancias de la compañía durante el cuarto trimestre del año anterior se redujeron un 56,7%, alcanzando solo 1.740 millones de dólares, debido principalmente a gastos legales de aproximadamente 2.900 millones de dólares relacionados con litigios. Entre estas demandas legales se encuentran casos relacionados con la venta de opioides, complicaciones por sus mallas vaginales y litigios vinculados a su línea de talcos. Por otro lado, las ventas del último trimestre aumentaron hasta alcanzar los 22.480 millones de dólares frente a los 20.750 millones registrados en el mismo periodo del año previo, impulsadas principalmente por la creciente demanda de medicamentos oncológicos.
Greek News:
Η εταιρεία Johnson & Johnson έδωσε ιδιαίτερη έμφαση στην Έρευνα και Ανάπτυξη (R&D), αυξάνοντας το 2020 τις σχετικές δαπάνες κατά 7,1%, στα $ 12,16 δισεκατομμύρια, από $ 11,36 δισεκατομμύρια το 2019. Η άνοδος αυτή ανέβασε το ποσοστό των δαπανών R&D στο 14,7% των συνολικών πωλήσεων, έναντι 13,8% την προηγούμενη χρονιά. Η αύξηση αποδίδεται κυρίως στη μεγαλύτερη συμβολή των πωλήσεων στον φαρμακευτικό τομέα, την εντατικοποίηση των επενδύσεων στον κλάδο των Ιατρικών Συσκευών, ιδιαίτερα στη ρομποτική και σε ψηφιακές πρωτοβουλίες αλλά και στην ανάπτυξη του φαρμακευτικού χαρτοφυλακίου της εταιρείας, με αιχμή το εμβόλιο κατά του COVID-19. Παράλληλα, η Johnson & Johnson συνεχίζει να επενδύει στρατηγικά στην παγκόσμια επέκταση του κλάδου R&D, διαθέτοντας εγκαταστάσεις σε κρίσιμες αγορές όπως οι ΗΠΑ, η Κίνα και η Γερμανία, ενώ παρέχει επιπλέον υποστήριξη σε περισσότερες από 30 χώρες διεθνώς. Η εταιρεία επικεντρώνεται τόσο στην ανάπτυξη νέων καινοτόμων προϊόντων όσο και στη συνεχή βελτίωση της αποτελεσματικότητας και της συμμόρφωσης με τους κανονισμούς, θέτοντας την έρευνα ως βασικό μοχλό βιώσιμης ανάπτυξης και ανταγωνιστικότητας σε ένα διαρκώς μεταβαλλόμενο περιβάλλον.
Question:
What are the company's capital expenditures and their strategic significance from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | What are the company's capital expenditures and their strategic significance from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Johnson & Johnson’s capital expenditures support global R&D facility expansion and technological innovation in medical devices and pharmaceuticals, including COVID-19 vaccine production and distribution.
Financial Statement Evidence:
R&D expense: $$12,159M; Additions to property, plant and equipment: $3,347M |
JNJ_20210430 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 |
|:-----------------------------------------------------------------------------------------------------|:-----------|:--------------|:-----------|:----------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | |
| | | April 4, 2021 | | January 3, 2021 | | | | | | | | | | |
| ASSETS | | | | | | | | | | | | | | |
| Current assets: | | | | | | | | | | | | | | |
| Cash and cash equivalents | | $ | 12,671 | | | 13,985 | | | | | | | | |
| Marketable securities | | 11,948 | | | 11,200 | | | | | | | | | |
| Accounts receivable, trade, less allowances for doubtful accounts and credit losses $270(2020, $293) | | 14,938 | | | 13,576 | | | | | | | | | |
| Inventories (Note 2) | | 9,952 | | | 9,344 | | | | | | | | | |
| Prepaid expenses and other | | 3,024 | | | 3,132 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Total current assets | | 52,533 | | | 51,237 | | | | | | | | | |
| Property, plant and equipment at cost | | 46,430 | | | 46,804 | | | | | | | | | |
| Less: accumulated depreciation | | (28,063) | | | (28,038) | | | | | | | | | |
| Property, plant and equipment, net | | 18,367 | | | 18,766 | | | | | | | | | |
| Intangible assets, net (Note 3) | | 51,110 | | | 53,402 | | | | | | | | | |
| Goodwill (Note 3) | | 35,688 | | | 36,393 | | | | | | | | | |
| Deferred taxes on income (Note 5) | | 8,321 | | | 8,534 | | | | | | | | | |
| Other assets | | 6,538 | | | 6,562 | | | | | | | | | |
| Total assets | | $ | 172,557 | | | 174,894 | | | | | | | | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | | | | | | | | |
| Current liabilities: | | | | | | | | | | | | | | |
| Loans and notes payable | | $ | 3,350 | | | 2,631 | | | | | | | | |
| Accounts payable | | 8,503 | | | 9,505 | | | | | | | | | |
| Accrued liabilities | | 13,223 | | | 13,968 | | | | | | | | | |
| Accrued rebates, returns and promotions | | 11,919 | | | 11,513 | | | | | | | | | |
| Accrued compensation and employee related obligations | | 2,060 | | | 3,484 | | | | | | | | | |
| Accrued taxes on income (Note 5) | | 1,877 | | | 1,392 | | | | | | | | | |
| Total current liabilities | | 40,932 | | | 42,493 | | | | | | | | | |
| Long-term debt (Note 4) | | 30,263 | | | 32,635 | | | | | | | | | |
| Deferred taxes on income (Note 5) | | 6,507 | | | 7,214 | | | | | | | | | |
| Employee related obligations (Note 6) | | 10,512 | | | 10,771 | | | | | | | | | |
| Long-term taxes payable (Note 5) | | 6,568 | | | 6,559 | | | | | | | | | |
| Other liabilities | | 11,941 | | | 11,944 | | | | | | | | | |
| Total liabilities | | $ | 106,723 | | | 111,616 | | | | | | | | |
| Commitments and Contingencies (Note 11) | | | | | | | | | | | | | | |
| Shareholders’ equity: | | | | | | | | | | | | | | |
| Common stock — par value $1.00per share (authorized4,320,000,000shares; issued3,119,843,000shares) | | $ | 3,120 | | | 3,120 | | | | | | | | |
| Accumulated other comprehensive income (loss) (Note 7) | | (15,328) | | | (15,242) | | | | | | | | | |
| Retained earnings | | 116,508 | | | 113,890 | | | | | | | | | |
| Less: common stock held in treasury, at cost (487,141,000and487,331,000shares) | | 38,466 | | | 38,490 | | | | | | | | | |
| Total shareholders’ equity | | 65,834 | | | 63,278 | | | | | | | | | |
| Total liabilities and shareholders' equity | | $ | 172,557 | | | 174,894 | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 |
|:------------------------------------------------------------------------------------------|:-----------|:--------------------------|:-----------|:--------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | |
| | | Fiscal Three Months Ended | | | | | | | | | | | | |
| | | April 4,2021 | | March 29,2020 | | | | | | | | | | |
| CASH FLOWS FROM OPERATING ACTIVITIES | | | | | | | | | | | | | | |
| Net earnings | | $ | 6,197 | | | 5,796 | | | | | | | | |
| Adjustments to reconcile net earnings to cash flows from operating activities: | | | | | | | | | | | | | | |
| Depreciation and amortization of property and intangibles | | 1,894 | | | 1,747 | | | | | | | | | |
| Stock based compensation | | 307 | | | 263 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Asset write-downs | | 14 | | | 11 | | | | | | | | | |
| Contingent consideration reversal | | — | | | (983) | | | | | | | | | |
| Net gain on sale of assets/businesses | | (580) | | | — | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Deferred tax provision | | (730) | | | 54 | | | | | | | | | |
| Credit losses and accounts receivable allowances | | (13) | | | 22 | | | | | | | | | |
| Changes in assets and liabilities, net of effects from acquisitions and divestitures: | | | | | | | | | | | | | | |
| Increase in accounts receivable | | (1,604) | | | (812) | | | | | | | | | |
| Increase in inventories | | (695) | | | (159) | | | | | | | | | |
| Decrease in accounts payable and accrued liabilities | | (2,336) | | | (2,523) | | | | | | | | | |
| Decrease in other current and non-current assets | | 2,522 | | | 271 | | | | | | | | | |
| Decrease in other current and non-current liabilities | | (902) | | | (329) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| NET CASH FLOWS FROM OPERATING ACTIVITIES | | 4,074 | | | 3,358 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM INVESTING ACTIVITIES | | | | | | | | | | | | | | |
| Additions to property, plant and equipment | | (677) | | | (625) | | | | | | | | | |
| Proceeds from the disposal of assets/businesses, net (Note 10) | | 603 | | | 17 | | | | | | | | | |
| Acquisitions, net of cash acquired (Note 10) | | — | | | (939) | | | | | | | | | |
| Purchases of investments | | (5,994) | | | (2,064) | | | | | | | | | |
| Sales of investments | | 5,233 | | | 1,544 | | | | | | | | | |
| Credit support agreements activity, net | | 751 | | | 1,743 | | | | | | | | | |
| Other (primarily licenses and milestones) | | (101) | | | (257) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| NET CASH USED BY INVESTING ACTIVITIES | | (185) | | | (581) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM FINANCING ACTIVITIES | | | | | | | | | | | | | | |
| Dividends to shareholders | | (2,659) | | | (2,505) | | | | | | | | | |
| Repurchase of common stock | | (1,438) | | | (1,711) | | | | | | | | | |
| Proceeds from short-term debt | | 23 | | | 10 | | | | | | | | | |
| Repayment of short-term debt | | (475) | | | (18) | | | | | | | | | |
| Proceeds from long-term debt, net of issuance costs | | 1 | | | — | | | | | | | | | |
| Repayment of long-term debt | | (1,001) | | | (11) | | | | | | | | | |
| Proceeds from the exercise of stock options/employee withholding tax on stock awards, net | | 236 | | | 332 | | | | | | | | | |
| Credit support agreements activity, net | | 212 | | | — | | | | | | | | | |
| Other | | (24) | | | (412) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| NET CASH USED BY FINANCING ACTIVITIES | | (5,125) | | | (4,315) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Effect of exchange rate changes on cash and cash equivalents | | (78) | | | (237) | | | | | | | | | |
| Decrease in cash and cash equivalents | | (1,314) | | | (1,775) | | | | | | | | | |
| Cash and Cash equivalents, beginning of period | | 13,985 | | | 17,305 | | | | | | | | | |
| CASH AND CASH EQUIVALENTS, END OF PERIOD | | $ | 12,671 | | | 15,530 | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Acquisitions | | | | | | | | | | | | | | |
| Fair value of assets acquired | | $ | — | | | 1,136 | | | | | | | | |
| Fair value of liabilities assumed and noncontrolling interests | | — | | | (197) | | | | | | | | | |
| Net cash paid for acquisitions | | $ | — | | | 939 | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 | Column 22 | Column 23 | Column 24 | Column 25 | Column 26 | Column 27 |
|:-----------------------------------------------|:-----------|:---------------------------|:-----------|:----------------|:-----------|:--------------|:-----------|:----------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Fiscal First Quarter Ended | | | | | | | | | | | | | | | | | | | | | | | | |
| | | April 4,2021 | | Percentto Sales | | March 29,2020 | | Percentto Sales | | | | | | | | | | | | | | | | | | |
| Sales to customers (Note 9) | | $ | 22,321 | | | 100.0 | % | | $ | 20,691 | | | 100.0 | % | | | | | | | | | | | | |
| Cost of products sold | | 7,063 | | | 31.7 | | | 7,062 | | | 34.1 | | | | | | | | | | | | | | | |
| Gross profit | | 15,258 | | | 68.3 | | | 13,629 | | | 65.9 | | | | | | | | | | | | | | | |
| Selling, marketing and administrative expenses | | 5,432 | | | 24.3 | | | 5,203 | | | 25.1 | | | | | | | | | | | | | | | |
| Research and development expense | | 3,178 | | | 14.2 | | | 2,580 | | | 12.5 | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Interest income | | (15) | | | (0.1) | | | (67) | | | (0.3) | | | | | | | | | | | | | | | |
| Interest expense, net of portion capitalized | | 63 | | | 0.3 | | | 25 | | | 0.1 | | | | | | | | | | | | | | | |
| Other (income) expense, net | | (882) | | | (3.9) | | | (679) | | | (3.3) | | | | | | | | | | | | | | | |
| Restructuring (Note 12) | | 53 | | | 0.2 | | | 58 | | | 0.3 | | | | | | | | | | | | | | | |
| Earnings before provision for taxes on income | | 7,429 | | | 33.3 | | | 6,509 | | | 31.5 | | | | | | | | | | | | | | | |
| Provision for taxes on income (Note 5) | | 1,232 | | | 5.5 | | | 713 | | | 3.5 | | | | | | | | | | | | | | | |
| NET EARNINGS | | $ | 6,197 | | | 27.8 | % | | $ | 5,796 | | | 28.0 | % | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| NET EARNINGS PER SHARE (Note 8) | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | $ | 2.35 | | | | | $ | 2.20 | | | | | | | | | | | | | | | | | |
| Diluted | | $ | 2.32 | | | | | $ | 2.17 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| AVG. SHARES OUTSTANDING | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | 2,631.6 | | | | | 2,633.7 | | | | | | | | | | | | | | | | | | | |
| Diluted | | 2,672.7 | | | | | 2,671.0 | | | | | | | | | | | | | | | | | | | |
---
English News:
The Janssen Pharmaceutical Companies of Johnson & Johnson announced today that they have submitted a Marketing Authorisation Application (MAA) to the European Medicines Agency (EMA) seeking approval of cilta-cel, an investigational B cell maturation antigen (BCMA)-directed chimeric antigen receptor T cell (CAR-T) therapy, for the treatment of patients with relapsed and/or refractory multiple myeloma. The application is supported by positive results from the ongoing Phase 1b/2 CARTITUDE-1 study, investigating the safety and efficacy of cilta-cel.1,2 The latest results were presented at the American Society of Hematology (ASH) 2020 Annual Meeting. Clinical development is ongoing with patients enrolled globally in various studies, including sites in Europe, the United States of America, China and Japan.1,2 Despite advances in the treatment of multiple myeloma, there remains a high unmet need, especially for patients whose disease continues to progress, said Peter Lebowitz, M.D., PhD., Global Therapeutic Area Head, Oncology, Janssen Research & Development, LLC. Through our collaboration with Legend Biotech, we continue to expedite the development of cilta-cel with a focus and priority on the patients who may benefit from this novel immunotherapy in the future. CART therapy is a highly personalised treatment platform where a patients own T-cells are re-programmed to recognise and attack cancer cells.3 In early 2021, the EMA granted accelerated assessment for cilta-cel.4 Accelerated assessment is granted when a medicinal product is expected to be of major public health interest and a therapeutic innovation, and can significantly reduce the review timelines to evaluate an MAA.5 Janssen has been advancing the science of oncology for more than 30 years, and we see great opportunity in the area of cell therapy and through our innovative platforms, says Mathai Mammen, M.D., Ph.D., Global Head, Janssen Research & Development, Johnson & Johnson. We are continuing to harness our deep scientific expertise in multiple myeloma as we look to advance therapeutic options, deepen clinical responses, and drive towards improved patient outcomes. Todays submission to the EMA epitomises how we strive to make a meaningful impact in the multiple myeloma landscape through advancing innovative treatments for patients, says Saskia De Haes, Vice President, EMEA Regulatory Affairs, Janssen R&D BE. We look forward to working in partnership with health authorities, as part of the accelerated assessment process, to support these patients by ensuring timely access to the latest therapeutic options. A Biologics License Application seeking approval of cilta-cel for the treatment of relapsed and/or refractory multiple myeloma is currently under review by the United States Food and Drug Administration.6 # ENDS # About CARTITUDE-1 CARTITUDE-1 (NCT03548207) is an ongoing Phase 1b/2, open-label, multicentre study evaluating the safety and efficacy of JNJ-68284528 (JNJ-4528) in adults with relapsed or refractory multiple myeloma who have received at least three prior lines of therapy or are double refractory to a proteasome inhibitor (PI) and an immunomodulatory drug (IMiD); have received a PI, IMiD and an anti-CD38 antibody.2 The primary objective of the Phase 1b portion of the study is to characterise the safety and confirm the dose of JNJ-68284528 (JNJ-4528), which was informed by the first-in-human study with LCAR-B38M CAR-T cells (LEGEND-2).2 The primary objective for the Phase 2 portion of the study is to evaluate the efficacy of JNJ-4528 (primary endpoint: overall response rate as defined by the International Myeloma Working Group response criteria).2 About Ciltacabtagene Autoleucel (cilta-cel) Cilta-cel is an investigational chimeric antigen receptor T cell (CAR-T) therapy for the treatment of patients with multiple myeloma. Cilta-cel is a differentiated CAR-T therapy with two BCMA-targeting single domain antibodies.1 CAR-T cells are an innovative approach to targeting cancer cells by harnessing the power of a patients own immune system. 7 BCMA is a protein that is highly expressed on myeloma cells.8 In December 2017, Janssen Biotech, Inc. (Janssen) entered into an exclusive worldwide license and collaboration agreement with Legend Biotech to develop and commercialise cilta-cel.9 In May 2018, Janssen initiated a Phase 1b/2 CARTITUDE-1 trial (NCT03548207) to evaluate the efficacy and safety of cilta-cel in adults with relapsed and/or refractory multiple myeloma, informed by the LEGEND-2 study results.2,10 In 2019, cilta-cel was granted PRIME (PRIority MEdicines) designation by the European Medicines Agency (EMA).11 PRIME offers enhanced interaction and early dialogue with developers of promising medicines, to optimise drug development plans and speed up evaluation of cutting-edge, scientific advances that target a high unmet medical need.12 In 2020, the European Commission granted orphan designation for cilta-cel.13 About Multiple Myeloma Multiple myeloma (MM) is an incurable blood cancer that starts in the bone marrow and is characterised by an excessive proliferation of plasma cells.14 In Europe, 50,918 people were diagnosed with MM in 2020, and more than 32,400 patients died.15 Around 50 percent of newly diagnosed patients do not reach five-year survival,16 and approximately 10 percent of patients with multiple myeloma will die within one year of diagnosis.17 Although treatment may result in remission, unfortunately, patients will most likely relapse as there is currently no cure.18 Refractory MM is when a patients disease progresses within 60 days of their last therapy.19 Relapsed cancer is when the disease has returned after a period of initial, partial or complete remission.20 While some patients with MM have no symptoms at all, others are diagnosed due to symptoms that can include bone problems, low blood counts, calcium elevation, kidney problems or infections.21 Patients who relapse after treatment with standard therapies, including protease inhibitors and immunomodulatory agents, have poor prognoses and require new therapies for continued disease control.22 About the Janssen Pharmaceutical Companies of Johnson & Johnson At Janssen, were creating a future where disease is a thing of the past. Were the Pharmaceutical Companies of Johnson & Johnson, working tirelessly to make that future a reality for patients everywhere by fighting sickness with science, improving access with ingenuity, and healing hopelessness with heart. We focus on areas of medicine where we can make the biggest difference: Cardiovascular & Metabolism, Immunology, Infectious Diseases & Vaccines, Neuroscience, Oncology, and Pulmonary Hypertension. Learn more at www.janssen.com/emea. Follow us at www.twitter.com/janssenEMEA for our latest news. Janssen Pharmaceutica NV, Janssen R&D BE, and Janssen Research & Development, LLC are part of the Janssen Pharmaceutical Companies of Johnson & Johnson.
Chinese News:
耶伦的“鹰派”言论“带崩”了周二的美股走势。当天，她火速发表了澄清言论，第二天，多位美联储官员也重申通胀可控，美股市场在周三终于“稳住了”，道指还创下盘中新高。抗疫方面也有大事，拜登政府宣布将放弃新冠疫苗的知识产权专利。三家疫苗巨头市值蒸发500亿，板块概念股中还有一只股票跌了16%。多位美联储官员重申通胀可控道指再创盘中新高 当地时间周二，耶伦的讲话引发了市场震荡，投资者对于通胀的担忧也愈发强烈。周二盘后耶伦澄清没有对美联储政策进行预测或建议，周三，美联储多位官员也开始发声，美股也“稳住了”，没有延续大幅下跌的走势。当地时间周三，美联储副主席克拉里达表示现在还不应该讨论缩减购债规模，而且美国经济距离目标还有很长的路要走。他还表示，周二美国财长耶伦已经表明了她没有对美联储的政策进行预测或提出建议。克拉里达还表示希望看到经济方面的实际进展，但美国经济目前还没有取得实质性进展。克拉里达认为，美国的实际失业率接近10%，就业人数仍比疫情爆发前少800万；在就业市场复苏之际，快速的经济增长是受欢迎的。同一天，芝加哥联储主席埃文斯表示，尽管政府为应对疫情推出了前所未有的财政支出计划，但美国的通货膨胀依然不太可能失控；如果就业目标达到，但平均通胀率没有达到2%，那么应该继续实行宽松政策。波士顿联储主席罗森伯格表示，今年通胀率上升是暂时的；最有可能的结果依然是通胀正常化，接近2%的目标；如果通胀出现问题，美联储有应对的工具。克利夫兰联储主席梅斯特称，即使通胀超过美联储的目标水平2%，也难以持续满足联储有关加息的利率指引要求。美联储对市场的安抚起了一定效果，美股三大股指周三整体呈现窄幅震荡的走势，未继续大幅下行。截至收盘，道琼斯指数涨0.29%，报34230.34点。纳斯达克指数跌0.37%，报13582.42点。标普500指数涨0.07%，报4167.59点。 道指还在盘中创下历史新高。拜登政府：将放弃新冠疫苗的知识产权专利 疫苗概念股下挫，最多跌了16% 美国终于表态将豁免新冠疫苗知识产权，疫苗概念股立马跌了.据央视，拜登政府当地时间5月5日发表一项决定，表示美国将放弃新冠肺炎疫苗的知识产权专利。美国贸易部部长戴琪(Katherine Tai)5日在一份声明中宣布了美国政府的这一决定。此前，美国制药商曾就此事进行了激烈的内部辩论和大力反击。戴琪表示，政府此举是为了尽快普及安全有效的疫苗，结束新冠肺炎疫情。她同时表示，美国政府将继续加强与私营部门和所有可能伙伴的合作，扩大疫苗的制造和分销，以及努力增加生产这些疫苗所需的原材料。美国此举有可能扩大新冠肺炎疫苗的全球供应，缩小富国和穷国之间的疫苗接种差距。美国白宫办公厅主任罗恩·克莱因(Ron Klain)2日曾表示，知识产权是全球新冠肺炎疫苗短缺问题的一部分，但更大的问题在于制造业。他说，白宫将在“未来几天”透露更多消息。据新华社，此前，世界卫生组织总干事谭德塞和英国前首相戈登·布朗于本月3日共同呼吁暂时豁免新冠疫苗知识产权。谭德塞在当天举行的线上记者会上说，过去两周全球报告的新增新冠确诊病例数比疫情开始后的头6个月加起来还要多；上周印度和巴西报告的新增感染病例数占全球半数以上，还有许多国家面临非常脆弱的局势。谭德塞表示，如果要为大多数成年人接种疫苗以实现群体免疫，需要的疫苗将大大超过现有数量；为提高疫苗产量，暂时豁免疫苗知识产权非常重要，而这并不是一个“慈善问题”。受美国表态将放弃新冠肺炎疫苗专利这一消息的影响，多支疫苗概念股下跌。Vaxart跌幅最大，收盘跌幅接近16%。 三家疫苗巨头市值蒸发500亿 Moderna跌超6%，市值蒸发43亿美元，约合280亿人民币。 Biotech跌超3%，市值蒸发15亿美元，约合97亿人民币。强生微跌0.42%，市值蒸发18.55亿美元，约合120亿人民币。周三，上述三家疫苗巨头市值蒸发76.55亿美元，约合497亿人民币。 辉瑞和阿斯利康逆势上涨，其中，阿斯利康为英国公司。这一通胀指标创13年新高 亿万富翁投资人警告加息或提前 即使耶伦紧急澄清，美联储多位官员也发声，部分关于通胀的指标还是创下了多年新高。当地时间周二，彭博大宗商品现货指数攀升至2011年以来的最高水平，创10年新高。当地时间周三，美国5年期盈亏平衡通胀率一举突破2.7%，创下2008年7月以来的最高水平，创13年新高；10年期盈亏平衡通胀率周三也涨至多年来高点。亿万富豪投资人Cooperman认为，不断上升的通货膨胀率或将迫使美联储提前至明年加息。当地时间周三，他在接受彭博专访时表示，“我猜美联储会对通胀感到惊讶，这会更难办。市场可能会对美联储在2022年的某个时候加息感到震惊，这也将是他们因通货膨胀而被迫做出的决策。”荷兰合作银行分析师Richard McGuire表示，盈亏平衡通胀率的上涨意味着市场还存在较强的不确定性，虽然政策决策者承诺通胀率上升只是暂时现象，但投资者还是对疫情后将面临的巨大通胀压力感到担忧。
Japanese News:
米国の医薬品・ヘルスケア大手、ジョンソン・エンド・ジョンソン（J&J）が発表した今年第1四半期（1〜3月期）の決算は、市場予想を上回る好調な利益を記録した。新型コロナウイルスのワクチンについては売上が1億ドルに達したが、安全性への懸念から米国内や南アフリカでは一時的に接種が見合わせられている状況だ。同社はまた、株主配当を増額すると発表した。 J&Jの新型コロナワクチンについては、米保健当局が接種を受けた女性6人に生じた血栓症状を調査するため、現在一時的な使用中止措置を取っている。南アフリカでも同様に接種が一旦停止されている。一方、同社は5月末までに米国内で1億回分の供給を計画しており、4月19日時点ですでに1700万回以上が提供済みである。 シティグループのアナリスト、ジョアン・ウェンシュ氏はリポート内で「ワクチンに対して複数の疑問や懸念点は生じているものの、J&J全体としての業績回復の勢いを阻害するものではない」と指摘した。 特別項目を除いた第1四半期の調整後1株当たり利益は2.59ドルとなり、リフィニティブ調査による市場予想平均（2.34ドル）を上回った。 同期の売上高は前年同期比で7.9％増加し、223億2000万ドルを記録した。こちらもアナリストの予測である219億8000万ドルを超える結果となった。 また、2021年通期の調整後1株利益については、9.42～9.57ドルとの見通しを示した（前回予測は9.40～9.60ドル）。 さらに四半期配当についても、1株当たり1.01ドルから1.06ドルへと引き上げる方針を発表した。
Spanish News:
La multinacional farmacéutica Johnson & Johnson registró en el primer trimestre ventas notablemente superiores a las estimaciones del mercado, mientras aguarda una resolución por parte de las autoridades sanitarias estadounidenses acerca del posible reinicio del uso de su vacuna contra el COVID-19. En cuanto a las previsiones anuales, la empresa ajustó ligeramente sus expectativas para 2021, ubicando ahora la ganancia ajustada por acción entre 9,42 y 9,57 dólares, una leve modificación frente al rango de 9,40 a 9,60 dólares previsto inicialmente en enero. Esta nueva estimación está alineada con el consenso de Wall Street, situado en 9,50 dólares por acción. Durante el primer trimestre, la compañía obtuvo ingresos totales por 22.320 millones de dólares, superando claramente la estimación promedio de analistas, que ascendía a 21.980 millones de dólares. La semana anterior, las autoridades sanitarias estadounidenses decidieron suspender temporalmente la administración de la vacuna contra COVID-19 desarrollada por Johnson & Johnson, después de que seis mujeres experimentaran raros pero graves casos de coágulos cerebrales tras recibir la dosis. Un comité de expertos médicos analizará próximamente estos eventos adversos para determinar si se levanta la suspensión. Hasta mediados de abril, aproximadamente 7,7 millones de ciudadanos estadounidenses habían recibido esta vacuna. Aunque en enero el director financiero Joseph Wolk anticipó a Bloomberg que la empresa probablemente ofrecería una previsión de ventas anuales de la vacuna en abril, Johnson & Johnson decidió no emitir aún una estimación formal de ingresos para este producto debido al actual contexto de incertidumbre. Sin embargo, la compañía sí comunicó ingresos de 100 millones de dólares en Estados Unidos derivados de la vacuna durante el primer trimestre. Actualmente, J&J distribuye la vacuna bajo un modelo sin fines de lucro, con un precio máximo de aproximadamente 10 dólares por dosis, mientras dure la pandemia. Johnson & Johnson continúa defendiendo el balance positivo entre beneficios y riesgos de su vacuna. Se espera que sus ejecutivos aborden en detalle el tema durante la conferencia telefónica con inversores programada para esta mañana. Por otro lado, la empresa anunció un aumento del 5% en su dividendo trimestral, que pasará de 1,01 a 1,06 dólares por acción. En las operaciones previas a la apertura del mercado, las acciones mostraban un leve descenso del 0,3%, ubicándose en 162,21 dólares. Desde inicios de año hasta el cierre del día anterior, las acciones acumulaban una ganancia del 3,4%. En relación con las diferentes unidades del negocio, la división farmacéutica continuó siendo clave, representando más del 50% de los ingresos totales. Sus ventas aumentaron un 10% interanual, alcanzando 12.200 millones de dólares durante este período. Dentro de este segmento destacó especialmente el medicamento inmunoterapéutico Stelara, cuyas ventas crecieron un 18%, generando ingresos de 2.200 millones de dólares. Aunque el impacto de la pandemia afectó inicialmente al segmento de dispositivos médicos debido al aplazamiento de cirugías y procedimientos hospitalarios, la división registró una notable recuperación en este trimestre, incrementando sus ventas un 11% respecto al año previo, hasta llegar a los 6.580 millones de dólares. Sin embargo, la división de productos de consumo registró una caída del 2,3%, alcanzando ventas por 3.540 millones de dólares. Johnson & Johnson atribuyó este retroceso al fuerte contraste con el primer trimestre de 2020, cuando la pandemia generó un aumento significativo en la demanda de productos básicos como Tylenol y Listerine, debido al abastecimiento preventivo por parte de los consumidores. En términos globales, la farmacéutica alcanzó en el primer trimestre una ganancia ajustada por acción de 2,59 dólares, frente a los 2,30 dólares del mismo período del año anterior.
Greek News:
Εν μέσω αυξανόμενων διεθνών ανησυχιών σχετικά με σπάνια περιστατικά θρομβώσεων, αρκετές χώρες επανεξετάζουν τη χρήση του εμβολίου της Johnson & Johnson κατά του Covid-19, προκαλώντας πιθανές επιπτώσεις στην πορεία των εμβολιαστικών προγραμμάτων και στις οικονομικές προβλέψεις. Συγκεκριμένα, η Δανία απέσυρε το εμβόλιο από το εθνικό της εμβολιαστικό πρόγραμμα, εκτιμώντας ότι οι πιθανοί κίνδυνοι είναι περισσότεροι από τις αναμενόμενες οφειλές. Η απόφαση αυτή εκτιμάτε ότι θα καθυστερήσει τις εμβολιαστικές προσπάθειες κατά περίπου τέσσερις εβδομάδες και ως αποτέλεσμα να επηρεάσει την εθνική οικονομική δραστηριότητα. Ωστόσο, οι αρχές δεν απέκλεισαν την επανεξέταση της στάσης τους, εφόσον υπάρξουν νέα επιστημονικά δεδομένα. Παρομοίως στον Καναδά, η εθνική επιστημονική επιτροπή συνέστησε τη χρήση του συγκεκριμένου εμβολίου μόνο σε άτομα άνω των 30 ετών, ενώ η Γαλλία έχει περιορίσει τη χρήση του σε πολίτες άνω των 55 ετών. Οι διαφοροποιημένες εθνικές προσεγγίσεις αναδεικνύουν την αβεβαιότητα που περιβάλλει την αξιοποίηση του συγκεκριμένου εμβολίου και ενδέχεται να επηρεάσουν τους ρυθμούς επίτευξης ανοσίας, με άμεσες συνέπειες για την οικονομική ανάκαμψη της εκάστοτε χώρας. Παράλληλα, οι εξελίξεις αυτές δημιουργούν νέες παραμέτρους στον σχεδιασμό της υγειονομικής πολιτικής και της διαχείρισης των αποθεμάτων εμβολίων σε παγκόσμιο επίπεδο.
Question:
Please list the top three focuses on revenue from news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | Please list the top three focuses on revenue from news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: 1) COVID-19 vaccine launch generated $100 million in Q1 revenue despite safety concerns and temporary suspensions. J&J aims to supply 100 million doses to US by May-end. 2) Pharmaceutical division growth of 10% to $12.2 billion, led by immunotherapy drug Stelara which grew 18% to $2.2 billion. 3) Medical devices recovery with 11% growth to $6.58 billion as elective surgeries resumed post-pandemic restrictions.
Financial Statement Evidence: "Sales to customers $22,321" (Q1 2021); "Research and development expense $3,178" (14.2% of sales); "Gross profit $15,258" (68.3% margin) |
JNJ_20210430 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 |
|:-----------------------------------------------------------------------------------------------------|:-----------|:--------------|:-----------|:----------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | |
| | | April 4, 2021 | | January 3, 2021 | | | | | | | | | | |
| ASSETS | | | | | | | | | | | | | | |
| Current assets: | | | | | | | | | | | | | | |
| Cash and cash equivalents | | $ | 12,671 | | | 13,985 | | | | | | | | |
| Marketable securities | | 11,948 | | | 11,200 | | | | | | | | | |
| Accounts receivable, trade, less allowances for doubtful accounts and credit losses $270(2020, $293) | | 14,938 | | | 13,576 | | | | | | | | | |
| Inventories (Note 2) | | 9,952 | | | 9,344 | | | | | | | | | |
| Prepaid expenses and other | | 3,024 | | | 3,132 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Total current assets | | 52,533 | | | 51,237 | | | | | | | | | |
| Property, plant and equipment at cost | | 46,430 | | | 46,804 | | | | | | | | | |
| Less: accumulated depreciation | | (28,063) | | | (28,038) | | | | | | | | | |
| Property, plant and equipment, net | | 18,367 | | | 18,766 | | | | | | | | | |
| Intangible assets, net (Note 3) | | 51,110 | | | 53,402 | | | | | | | | | |
| Goodwill (Note 3) | | 35,688 | | | 36,393 | | | | | | | | | |
| Deferred taxes on income (Note 5) | | 8,321 | | | 8,534 | | | | | | | | | |
| Other assets | | 6,538 | | | 6,562 | | | | | | | | | |
| Total assets | | $ | 172,557 | | | 174,894 | | | | | | | | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | | | | | | | | |
| Current liabilities: | | | | | | | | | | | | | | |
| Loans and notes payable | | $ | 3,350 | | | 2,631 | | | | | | | | |
| Accounts payable | | 8,503 | | | 9,505 | | | | | | | | | |
| Accrued liabilities | | 13,223 | | | 13,968 | | | | | | | | | |
| Accrued rebates, returns and promotions | | 11,919 | | | 11,513 | | | | | | | | | |
| Accrued compensation and employee related obligations | | 2,060 | | | 3,484 | | | | | | | | | |
| Accrued taxes on income (Note 5) | | 1,877 | | | 1,392 | | | | | | | | | |
| Total current liabilities | | 40,932 | | | 42,493 | | | | | | | | | |
| Long-term debt (Note 4) | | 30,263 | | | 32,635 | | | | | | | | | |
| Deferred taxes on income (Note 5) | | 6,507 | | | 7,214 | | | | | | | | | |
| Employee related obligations (Note 6) | | 10,512 | | | 10,771 | | | | | | | | | |
| Long-term taxes payable (Note 5) | | 6,568 | | | 6,559 | | | | | | | | | |
| Other liabilities | | 11,941 | | | 11,944 | | | | | | | | | |
| Total liabilities | | $ | 106,723 | | | 111,616 | | | | | | | | |
| Commitments and Contingencies (Note 11) | | | | | | | | | | | | | | |
| Shareholders’ equity: | | | | | | | | | | | | | | |
| Common stock — par value $1.00per share (authorized4,320,000,000shares; issued3,119,843,000shares) | | $ | 3,120 | | | 3,120 | | | | | | | | |
| Accumulated other comprehensive income (loss) (Note 7) | | (15,328) | | | (15,242) | | | | | | | | | |
| Retained earnings | | 116,508 | | | 113,890 | | | | | | | | | |
| Less: common stock held in treasury, at cost (487,141,000and487,331,000shares) | | 38,466 | | | 38,490 | | | | | | | | | |
| Total shareholders’ equity | | 65,834 | | | 63,278 | | | | | | | | | |
| Total liabilities and shareholders' equity | | $ | 172,557 | | | 174,894 | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 |
|:------------------------------------------------------------------------------------------|:-----------|:--------------------------|:-----------|:--------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | |
| | | Fiscal Three Months Ended | | | | | | | | | | | | |
| | | April 4,2021 | | March 29,2020 | | | | | | | | | | |
| CASH FLOWS FROM OPERATING ACTIVITIES | | | | | | | | | | | | | | |
| Net earnings | | $ | 6,197 | | | 5,796 | | | | | | | | |
| Adjustments to reconcile net earnings to cash flows from operating activities: | | | | | | | | | | | | | | |
| Depreciation and amortization of property and intangibles | | 1,894 | | | 1,747 | | | | | | | | | |
| Stock based compensation | | 307 | | | 263 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Asset write-downs | | 14 | | | 11 | | | | | | | | | |
| Contingent consideration reversal | | — | | | (983) | | | | | | | | | |
| Net gain on sale of assets/businesses | | (580) | | | — | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Deferred tax provision | | (730) | | | 54 | | | | | | | | | |
| Credit losses and accounts receivable allowances | | (13) | | | 22 | | | | | | | | | |
| Changes in assets and liabilities, net of effects from acquisitions and divestitures: | | | | | | | | | | | | | | |
| Increase in accounts receivable | | (1,604) | | | (812) | | | | | | | | | |
| Increase in inventories | | (695) | | | (159) | | | | | | | | | |
| Decrease in accounts payable and accrued liabilities | | (2,336) | | | (2,523) | | | | | | | | | |
| Decrease in other current and non-current assets | | 2,522 | | | 271 | | | | | | | | | |
| Decrease in other current and non-current liabilities | | (902) | | | (329) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| NET CASH FLOWS FROM OPERATING ACTIVITIES | | 4,074 | | | 3,358 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM INVESTING ACTIVITIES | | | | | | | | | | | | | | |
| Additions to property, plant and equipment | | (677) | | | (625) | | | | | | | | | |
| Proceeds from the disposal of assets/businesses, net (Note 10) | | 603 | | | 17 | | | | | | | | | |
| Acquisitions, net of cash acquired (Note 10) | | — | | | (939) | | | | | | | | | |
| Purchases of investments | | (5,994) | | | (2,064) | | | | | | | | | |
| Sales of investments | | 5,233 | | | 1,544 | | | | | | | | | |
| Credit support agreements activity, net | | 751 | | | 1,743 | | | | | | | | | |
| Other (primarily licenses and milestones) | | (101) | | | (257) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| NET CASH USED BY INVESTING ACTIVITIES | | (185) | | | (581) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM FINANCING ACTIVITIES | | | | | | | | | | | | | | |
| Dividends to shareholders | | (2,659) | | | (2,505) | | | | | | | | | |
| Repurchase of common stock | | (1,438) | | | (1,711) | | | | | | | | | |
| Proceeds from short-term debt | | 23 | | | 10 | | | | | | | | | |
| Repayment of short-term debt | | (475) | | | (18) | | | | | | | | | |
| Proceeds from long-term debt, net of issuance costs | | 1 | | | — | | | | | | | | | |
| Repayment of long-term debt | | (1,001) | | | (11) | | | | | | | | | |
| Proceeds from the exercise of stock options/employee withholding tax on stock awards, net | | 236 | | | 332 | | | | | | | | | |
| Credit support agreements activity, net | | 212 | | | — | | | | | | | | | |
| Other | | (24) | | | (412) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| NET CASH USED BY FINANCING ACTIVITIES | | (5,125) | | | (4,315) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Effect of exchange rate changes on cash and cash equivalents | | (78) | | | (237) | | | | | | | | | |
| Decrease in cash and cash equivalents | | (1,314) | | | (1,775) | | | | | | | | | |
| Cash and Cash equivalents, beginning of period | | 13,985 | | | 17,305 | | | | | | | | | |
| CASH AND CASH EQUIVALENTS, END OF PERIOD | | $ | 12,671 | | | 15,530 | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Acquisitions | | | | | | | | | | | | | | |
| Fair value of assets acquired | | $ | — | | | 1,136 | | | | | | | | |
| Fair value of liabilities assumed and noncontrolling interests | | — | | | (197) | | | | | | | | | |
| Net cash paid for acquisitions | | $ | — | | | 939 | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 | Column 22 | Column 23 | Column 24 | Column 25 | Column 26 | Column 27 |
|:-----------------------------------------------|:-----------|:---------------------------|:-----------|:----------------|:-----------|:--------------|:-----------|:----------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Fiscal First Quarter Ended | | | | | | | | | | | | | | | | | | | | | | | | |
| | | April 4,2021 | | Percentto Sales | | March 29,2020 | | Percentto Sales | | | | | | | | | | | | | | | | | | |
| Sales to customers (Note 9) | | $ | 22,321 | | | 100.0 | % | | $ | 20,691 | | | 100.0 | % | | | | | | | | | | | | |
| Cost of products sold | | 7,063 | | | 31.7 | | | 7,062 | | | 34.1 | | | | | | | | | | | | | | | |
| Gross profit | | 15,258 | | | 68.3 | | | 13,629 | | | 65.9 | | | | | | | | | | | | | | | |
| Selling, marketing and administrative expenses | | 5,432 | | | 24.3 | | | 5,203 | | | 25.1 | | | | | | | | | | | | | | | |
| Research and development expense | | 3,178 | | | 14.2 | | | 2,580 | | | 12.5 | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Interest income | | (15) | | | (0.1) | | | (67) | | | (0.3) | | | | | | | | | | | | | | | |
| Interest expense, net of portion capitalized | | 63 | | | 0.3 | | | 25 | | | 0.1 | | | | | | | | | | | | | | | |
| Other (income) expense, net | | (882) | | | (3.9) | | | (679) | | | (3.3) | | | | | | | | | | | | | | | |
| Restructuring (Note 12) | | 53 | | | 0.2 | | | 58 | | | 0.3 | | | | | | | | | | | | | | | |
| Earnings before provision for taxes on income | | 7,429 | | | 33.3 | | | 6,509 | | | 31.5 | | | | | | | | | | | | | | | |
| Provision for taxes on income (Note 5) | | 1,232 | | | 5.5 | | | 713 | | | 3.5 | | | | | | | | | | | | | | | |
| NET EARNINGS | | $ | 6,197 | | | 27.8 | % | | $ | 5,796 | | | 28.0 | % | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| NET EARNINGS PER SHARE (Note 8) | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | $ | 2.35 | | | | | $ | 2.20 | | | | | | | | | | | | | | | | | |
| Diluted | | $ | 2.32 | | | | | $ | 2.17 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| AVG. SHARES OUTSTANDING | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | 2,631.6 | | | | | 2,633.7 | | | | | | | | | | | | | | | | | | | |
| Diluted | | 2,672.7 | | | | | 2,671.0 | | | | | | | | | | | | | | | | | | | |
---
English News:
The Janssen Pharmaceutical Companies of Johnson & Johnson announced today that they have submitted a Marketing Authorisation Application (MAA) to the European Medicines Agency (EMA) seeking approval of cilta-cel, an investigational B cell maturation antigen (BCMA)-directed chimeric antigen receptor T cell (CAR-T) therapy, for the treatment of patients with relapsed and/or refractory multiple myeloma. The application is supported by positive results from the ongoing Phase 1b/2 CARTITUDE-1 study, investigating the safety and efficacy of cilta-cel.1,2 The latest results were presented at the American Society of Hematology (ASH) 2020 Annual Meeting. Clinical development is ongoing with patients enrolled globally in various studies, including sites in Europe, the United States of America, China and Japan.1,2 Despite advances in the treatment of multiple myeloma, there remains a high unmet need, especially for patients whose disease continues to progress, said Peter Lebowitz, M.D., PhD., Global Therapeutic Area Head, Oncology, Janssen Research & Development, LLC. Through our collaboration with Legend Biotech, we continue to expedite the development of cilta-cel with a focus and priority on the patients who may benefit from this novel immunotherapy in the future. CART therapy is a highly personalised treatment platform where a patients own T-cells are re-programmed to recognise and attack cancer cells.3 In early 2021, the EMA granted accelerated assessment for cilta-cel.4 Accelerated assessment is granted when a medicinal product is expected to be of major public health interest and a therapeutic innovation, and can significantly reduce the review timelines to evaluate an MAA.5 Janssen has been advancing the science of oncology for more than 30 years, and we see great opportunity in the area of cell therapy and through our innovative platforms, says Mathai Mammen, M.D., Ph.D., Global Head, Janssen Research & Development, Johnson & Johnson. We are continuing to harness our deep scientific expertise in multiple myeloma as we look to advance therapeutic options, deepen clinical responses, and drive towards improved patient outcomes. Todays submission to the EMA epitomises how we strive to make a meaningful impact in the multiple myeloma landscape through advancing innovative treatments for patients, says Saskia De Haes, Vice President, EMEA Regulatory Affairs, Janssen R&D BE. We look forward to working in partnership with health authorities, as part of the accelerated assessment process, to support these patients by ensuring timely access to the latest therapeutic options. A Biologics License Application seeking approval of cilta-cel for the treatment of relapsed and/or refractory multiple myeloma is currently under review by the United States Food and Drug Administration.6 # ENDS # About CARTITUDE-1 CARTITUDE-1 (NCT03548207) is an ongoing Phase 1b/2, open-label, multicentre study evaluating the safety and efficacy of JNJ-68284528 (JNJ-4528) in adults with relapsed or refractory multiple myeloma who have received at least three prior lines of therapy or are double refractory to a proteasome inhibitor (PI) and an immunomodulatory drug (IMiD); have received a PI, IMiD and an anti-CD38 antibody.2 The primary objective of the Phase 1b portion of the study is to characterise the safety and confirm the dose of JNJ-68284528 (JNJ-4528), which was informed by the first-in-human study with LCAR-B38M CAR-T cells (LEGEND-2).2 The primary objective for the Phase 2 portion of the study is to evaluate the efficacy of JNJ-4528 (primary endpoint: overall response rate as defined by the International Myeloma Working Group response criteria).2 About Ciltacabtagene Autoleucel (cilta-cel) Cilta-cel is an investigational chimeric antigen receptor T cell (CAR-T) therapy for the treatment of patients with multiple myeloma. Cilta-cel is a differentiated CAR-T therapy with two BCMA-targeting single domain antibodies.1 CAR-T cells are an innovative approach to targeting cancer cells by harnessing the power of a patients own immune system. 7 BCMA is a protein that is highly expressed on myeloma cells.8 In December 2017, Janssen Biotech, Inc. (Janssen) entered into an exclusive worldwide license and collaboration agreement with Legend Biotech to develop and commercialise cilta-cel.9 In May 2018, Janssen initiated a Phase 1b/2 CARTITUDE-1 trial (NCT03548207) to evaluate the efficacy and safety of cilta-cel in adults with relapsed and/or refractory multiple myeloma, informed by the LEGEND-2 study results.2,10 In 2019, cilta-cel was granted PRIME (PRIority MEdicines) designation by the European Medicines Agency (EMA).11 PRIME offers enhanced interaction and early dialogue with developers of promising medicines, to optimise drug development plans and speed up evaluation of cutting-edge, scientific advances that target a high unmet medical need.12 In 2020, the European Commission granted orphan designation for cilta-cel.13 About Multiple Myeloma Multiple myeloma (MM) is an incurable blood cancer that starts in the bone marrow and is characterised by an excessive proliferation of plasma cells.14 In Europe, 50,918 people were diagnosed with MM in 2020, and more than 32,400 patients died.15 Around 50 percent of newly diagnosed patients do not reach five-year survival,16 and approximately 10 percent of patients with multiple myeloma will die within one year of diagnosis.17 Although treatment may result in remission, unfortunately, patients will most likely relapse as there is currently no cure.18 Refractory MM is when a patients disease progresses within 60 days of their last therapy.19 Relapsed cancer is when the disease has returned after a period of initial, partial or complete remission.20 While some patients with MM have no symptoms at all, others are diagnosed due to symptoms that can include bone problems, low blood counts, calcium elevation, kidney problems or infections.21 Patients who relapse after treatment with standard therapies, including protease inhibitors and immunomodulatory agents, have poor prognoses and require new therapies for continued disease control.22 About the Janssen Pharmaceutical Companies of Johnson & Johnson At Janssen, were creating a future where disease is a thing of the past. Were the Pharmaceutical Companies of Johnson & Johnson, working tirelessly to make that future a reality for patients everywhere by fighting sickness with science, improving access with ingenuity, and healing hopelessness with heart. We focus on areas of medicine where we can make the biggest difference: Cardiovascular & Metabolism, Immunology, Infectious Diseases & Vaccines, Neuroscience, Oncology, and Pulmonary Hypertension. Learn more at www.janssen.com/emea. Follow us at www.twitter.com/janssenEMEA for our latest news. Janssen Pharmaceutica NV, Janssen R&D BE, and Janssen Research & Development, LLC are part of the Janssen Pharmaceutical Companies of Johnson & Johnson.
Chinese News:
耶伦的“鹰派”言论“带崩”了周二的美股走势。当天，她火速发表了澄清言论，第二天，多位美联储官员也重申通胀可控，美股市场在周三终于“稳住了”，道指还创下盘中新高。抗疫方面也有大事，拜登政府宣布将放弃新冠疫苗的知识产权专利。三家疫苗巨头市值蒸发500亿，板块概念股中还有一只股票跌了16%。多位美联储官员重申通胀可控道指再创盘中新高 当地时间周二，耶伦的讲话引发了市场震荡，投资者对于通胀的担忧也愈发强烈。周二盘后耶伦澄清没有对美联储政策进行预测或建议，周三，美联储多位官员也开始发声，美股也“稳住了”，没有延续大幅下跌的走势。当地时间周三，美联储副主席克拉里达表示现在还不应该讨论缩减购债规模，而且美国经济距离目标还有很长的路要走。他还表示，周二美国财长耶伦已经表明了她没有对美联储的政策进行预测或提出建议。克拉里达还表示希望看到经济方面的实际进展，但美国经济目前还没有取得实质性进展。克拉里达认为，美国的实际失业率接近10%，就业人数仍比疫情爆发前少800万；在就业市场复苏之际，快速的经济增长是受欢迎的。同一天，芝加哥联储主席埃文斯表示，尽管政府为应对疫情推出了前所未有的财政支出计划，但美国的通货膨胀依然不太可能失控；如果就业目标达到，但平均通胀率没有达到2%，那么应该继续实行宽松政策。波士顿联储主席罗森伯格表示，今年通胀率上升是暂时的；最有可能的结果依然是通胀正常化，接近2%的目标；如果通胀出现问题，美联储有应对的工具。克利夫兰联储主席梅斯特称，即使通胀超过美联储的目标水平2%，也难以持续满足联储有关加息的利率指引要求。美联储对市场的安抚起了一定效果，美股三大股指周三整体呈现窄幅震荡的走势，未继续大幅下行。截至收盘，道琼斯指数涨0.29%，报34230.34点。纳斯达克指数跌0.37%，报13582.42点。标普500指数涨0.07%，报4167.59点。 道指还在盘中创下历史新高。拜登政府：将放弃新冠疫苗的知识产权专利 疫苗概念股下挫，最多跌了16% 美国终于表态将豁免新冠疫苗知识产权，疫苗概念股立马跌了.据央视，拜登政府当地时间5月5日发表一项决定，表示美国将放弃新冠肺炎疫苗的知识产权专利。美国贸易部部长戴琪(Katherine Tai)5日在一份声明中宣布了美国政府的这一决定。此前，美国制药商曾就此事进行了激烈的内部辩论和大力反击。戴琪表示，政府此举是为了尽快普及安全有效的疫苗，结束新冠肺炎疫情。她同时表示，美国政府将继续加强与私营部门和所有可能伙伴的合作，扩大疫苗的制造和分销，以及努力增加生产这些疫苗所需的原材料。美国此举有可能扩大新冠肺炎疫苗的全球供应，缩小富国和穷国之间的疫苗接种差距。美国白宫办公厅主任罗恩·克莱因(Ron Klain)2日曾表示，知识产权是全球新冠肺炎疫苗短缺问题的一部分，但更大的问题在于制造业。他说，白宫将在“未来几天”透露更多消息。据新华社，此前，世界卫生组织总干事谭德塞和英国前首相戈登·布朗于本月3日共同呼吁暂时豁免新冠疫苗知识产权。谭德塞在当天举行的线上记者会上说，过去两周全球报告的新增新冠确诊病例数比疫情开始后的头6个月加起来还要多；上周印度和巴西报告的新增感染病例数占全球半数以上，还有许多国家面临非常脆弱的局势。谭德塞表示，如果要为大多数成年人接种疫苗以实现群体免疫，需要的疫苗将大大超过现有数量；为提高疫苗产量，暂时豁免疫苗知识产权非常重要，而这并不是一个“慈善问题”。受美国表态将放弃新冠肺炎疫苗专利这一消息的影响，多支疫苗概念股下跌。Vaxart跌幅最大，收盘跌幅接近16%。 三家疫苗巨头市值蒸发500亿 Moderna跌超6%，市值蒸发43亿美元，约合280亿人民币。 Biotech跌超3%，市值蒸发15亿美元，约合97亿人民币。强生微跌0.42%，市值蒸发18.55亿美元，约合120亿人民币。周三，上述三家疫苗巨头市值蒸发76.55亿美元，约合497亿人民币。 辉瑞和阿斯利康逆势上涨，其中，阿斯利康为英国公司。这一通胀指标创13年新高 亿万富翁投资人警告加息或提前 即使耶伦紧急澄清，美联储多位官员也发声，部分关于通胀的指标还是创下了多年新高。当地时间周二，彭博大宗商品现货指数攀升至2011年以来的最高水平，创10年新高。当地时间周三，美国5年期盈亏平衡通胀率一举突破2.7%，创下2008年7月以来的最高水平，创13年新高；10年期盈亏平衡通胀率周三也涨至多年来高点。亿万富豪投资人Cooperman认为，不断上升的通货膨胀率或将迫使美联储提前至明年加息。当地时间周三，他在接受彭博专访时表示，“我猜美联储会对通胀感到惊讶，这会更难办。市场可能会对美联储在2022年的某个时候加息感到震惊，这也将是他们因通货膨胀而被迫做出的决策。”荷兰合作银行分析师Richard McGuire表示，盈亏平衡通胀率的上涨意味着市场还存在较强的不确定性，虽然政策决策者承诺通胀率上升只是暂时现象，但投资者还是对疫情后将面临的巨大通胀压力感到担忧。
Japanese News:
米国の医薬品・ヘルスケア大手、ジョンソン・エンド・ジョンソン（J&J）が発表した今年第1四半期（1〜3月期）の決算は、市場予想を上回る好調な利益を記録した。新型コロナウイルスのワクチンについては売上が1億ドルに達したが、安全性への懸念から米国内や南アフリカでは一時的に接種が見合わせられている状況だ。同社はまた、株主配当を増額すると発表した。 J&Jの新型コロナワクチンについては、米保健当局が接種を受けた女性6人に生じた血栓症状を調査するため、現在一時的な使用中止措置を取っている。南アフリカでも同様に接種が一旦停止されている。一方、同社は5月末までに米国内で1億回分の供給を計画しており、4月19日時点ですでに1700万回以上が提供済みである。 シティグループのアナリスト、ジョアン・ウェンシュ氏はリポート内で「ワクチンに対して複数の疑問や懸念点は生じているものの、J&J全体としての業績回復の勢いを阻害するものではない」と指摘した。 特別項目を除いた第1四半期の調整後1株当たり利益は2.59ドルとなり、リフィニティブ調査による市場予想平均（2.34ドル）を上回った。 同期の売上高は前年同期比で7.9％増加し、223億2000万ドルを記録した。こちらもアナリストの予測である219億8000万ドルを超える結果となった。 また、2021年通期の調整後1株利益については、9.42～9.57ドルとの見通しを示した（前回予測は9.40～9.60ドル）。 さらに四半期配当についても、1株当たり1.01ドルから1.06ドルへと引き上げる方針を発表した。
Spanish News:
La multinacional farmacéutica Johnson & Johnson registró en el primer trimestre ventas notablemente superiores a las estimaciones del mercado, mientras aguarda una resolución por parte de las autoridades sanitarias estadounidenses acerca del posible reinicio del uso de su vacuna contra el COVID-19. En cuanto a las previsiones anuales, la empresa ajustó ligeramente sus expectativas para 2021, ubicando ahora la ganancia ajustada por acción entre 9,42 y 9,57 dólares, una leve modificación frente al rango de 9,40 a 9,60 dólares previsto inicialmente en enero. Esta nueva estimación está alineada con el consenso de Wall Street, situado en 9,50 dólares por acción. Durante el primer trimestre, la compañía obtuvo ingresos totales por 22.320 millones de dólares, superando claramente la estimación promedio de analistas, que ascendía a 21.980 millones de dólares. La semana anterior, las autoridades sanitarias estadounidenses decidieron suspender temporalmente la administración de la vacuna contra COVID-19 desarrollada por Johnson & Johnson, después de que seis mujeres experimentaran raros pero graves casos de coágulos cerebrales tras recibir la dosis. Un comité de expertos médicos analizará próximamente estos eventos adversos para determinar si se levanta la suspensión. Hasta mediados de abril, aproximadamente 7,7 millones de ciudadanos estadounidenses habían recibido esta vacuna. Aunque en enero el director financiero Joseph Wolk anticipó a Bloomberg que la empresa probablemente ofrecería una previsión de ventas anuales de la vacuna en abril, Johnson & Johnson decidió no emitir aún una estimación formal de ingresos para este producto debido al actual contexto de incertidumbre. Sin embargo, la compañía sí comunicó ingresos de 100 millones de dólares en Estados Unidos derivados de la vacuna durante el primer trimestre. Actualmente, J&J distribuye la vacuna bajo un modelo sin fines de lucro, con un precio máximo de aproximadamente 10 dólares por dosis, mientras dure la pandemia. Johnson & Johnson continúa defendiendo el balance positivo entre beneficios y riesgos de su vacuna. Se espera que sus ejecutivos aborden en detalle el tema durante la conferencia telefónica con inversores programada para esta mañana. Por otro lado, la empresa anunció un aumento del 5% en su dividendo trimestral, que pasará de 1,01 a 1,06 dólares por acción. En las operaciones previas a la apertura del mercado, las acciones mostraban un leve descenso del 0,3%, ubicándose en 162,21 dólares. Desde inicios de año hasta el cierre del día anterior, las acciones acumulaban una ganancia del 3,4%. En relación con las diferentes unidades del negocio, la división farmacéutica continuó siendo clave, representando más del 50% de los ingresos totales. Sus ventas aumentaron un 10% interanual, alcanzando 12.200 millones de dólares durante este período. Dentro de este segmento destacó especialmente el medicamento inmunoterapéutico Stelara, cuyas ventas crecieron un 18%, generando ingresos de 2.200 millones de dólares. Aunque el impacto de la pandemia afectó inicialmente al segmento de dispositivos médicos debido al aplazamiento de cirugías y procedimientos hospitalarios, la división registró una notable recuperación en este trimestre, incrementando sus ventas un 11% respecto al año previo, hasta llegar a los 6.580 millones de dólares. Sin embargo, la división de productos de consumo registró una caída del 2,3%, alcanzando ventas por 3.540 millones de dólares. Johnson & Johnson atribuyó este retroceso al fuerte contraste con el primer trimestre de 2020, cuando la pandemia generó un aumento significativo en la demanda de productos básicos como Tylenol y Listerine, debido al abastecimiento preventivo por parte de los consumidores. En términos globales, la farmacéutica alcanzó en el primer trimestre una ganancia ajustada por acción de 2,59 dólares, frente a los 2,30 dólares del mismo período del año anterior.
Greek News:
Εν μέσω αυξανόμενων διεθνών ανησυχιών σχετικά με σπάνια περιστατικά θρομβώσεων, αρκετές χώρες επανεξετάζουν τη χρήση του εμβολίου της Johnson & Johnson κατά του Covid-19, προκαλώντας πιθανές επιπτώσεις στην πορεία των εμβολιαστικών προγραμμάτων και στις οικονομικές προβλέψεις. Συγκεκριμένα, η Δανία απέσυρε το εμβόλιο από το εθνικό της εμβολιαστικό πρόγραμμα, εκτιμώντας ότι οι πιθανοί κίνδυνοι είναι περισσότεροι από τις αναμενόμενες οφειλές. Η απόφαση αυτή εκτιμάτε ότι θα καθυστερήσει τις εμβολιαστικές προσπάθειες κατά περίπου τέσσερις εβδομάδες και ως αποτέλεσμα να επηρεάσει την εθνική οικονομική δραστηριότητα. Ωστόσο, οι αρχές δεν απέκλεισαν την επανεξέταση της στάσης τους, εφόσον υπάρξουν νέα επιστημονικά δεδομένα. Παρομοίως στον Καναδά, η εθνική επιστημονική επιτροπή συνέστησε τη χρήση του συγκεκριμένου εμβολίου μόνο σε άτομα άνω των 30 ετών, ενώ η Γαλλία έχει περιορίσει τη χρήση του σε πολίτες άνω των 55 ετών. Οι διαφοροποιημένες εθνικές προσεγγίσεις αναδεικνύουν την αβεβαιότητα που περιβάλλει την αξιοποίηση του συγκεκριμένου εμβολίου και ενδέχεται να επηρεάσουν τους ρυθμούς επίτευξης ανοσίας, με άμεσες συνέπειες για την οικονομική ανάκαμψη της εκάστοτε χώρας. Παράλληλα, οι εξελίξεις αυτές δημιουργούν νέες παραμέτρους στον σχεδιασμό της υγειονομικής πολιτικής και της διαχείρισης των αποθεμάτων εμβολίων σε παγκόσμιο επίπεδο.
Question:
How is the company allocating capital (e.g., investments, share repurchases, dividends) based on its performance and market outlook from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | How is the company allocating capital (e.g., investments, share repurchases, dividends) based on its performance and market outlook from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: J&J announced a 5% dividend increase from $1.01 to $1.06 per share, reflecting confidence in financial performance and outlook. The company maintained its 2021 adjusted EPS guidance of $9.42-$9.57 despite vaccine uncertainties. Long-term debt decreased from $32,635 million to $30,263 million, suggesting debt reduction focus. The dividend increase plus strong cash position indicates shareholder-friendly capital allocation.
Financial Statement Evidence: "Long-term debt $30,263" (April 4, 2021); "Total shareholders' equity $65,834"; "Cash and cash equivalents $12,671"; "Common stock held in treasury 487,141,000 shares" |
JNJ_20210430 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 |
|:-----------------------------------------------------------------------------------------------------|:-----------|:--------------|:-----------|:----------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | |
| | | April 4, 2021 | | January 3, 2021 | | | | | | | | | | |
| ASSETS | | | | | | | | | | | | | | |
| Current assets: | | | | | | | | | | | | | | |
| Cash and cash equivalents | | $ | 12,671 | | | 13,985 | | | | | | | | |
| Marketable securities | | 11,948 | | | 11,200 | | | | | | | | | |
| Accounts receivable, trade, less allowances for doubtful accounts and credit losses $270(2020, $293) | | 14,938 | | | 13,576 | | | | | | | | | |
| Inventories (Note 2) | | 9,952 | | | 9,344 | | | | | | | | | |
| Prepaid expenses and other | | 3,024 | | | 3,132 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Total current assets | | 52,533 | | | 51,237 | | | | | | | | | |
| Property, plant and equipment at cost | | 46,430 | | | 46,804 | | | | | | | | | |
| Less: accumulated depreciation | | (28,063) | | | (28,038) | | | | | | | | | |
| Property, plant and equipment, net | | 18,367 | | | 18,766 | | | | | | | | | |
| Intangible assets, net (Note 3) | | 51,110 | | | 53,402 | | | | | | | | | |
| Goodwill (Note 3) | | 35,688 | | | 36,393 | | | | | | | | | |
| Deferred taxes on income (Note 5) | | 8,321 | | | 8,534 | | | | | | | | | |
| Other assets | | 6,538 | | | 6,562 | | | | | | | | | |
| Total assets | | $ | 172,557 | | | 174,894 | | | | | | | | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | | | | | | | | |
| Current liabilities: | | | | | | | | | | | | | | |
| Loans and notes payable | | $ | 3,350 | | | 2,631 | | | | | | | | |
| Accounts payable | | 8,503 | | | 9,505 | | | | | | | | | |
| Accrued liabilities | | 13,223 | | | 13,968 | | | | | | | | | |
| Accrued rebates, returns and promotions | | 11,919 | | | 11,513 | | | | | | | | | |
| Accrued compensation and employee related obligations | | 2,060 | | | 3,484 | | | | | | | | | |
| Accrued taxes on income (Note 5) | | 1,877 | | | 1,392 | | | | | | | | | |
| Total current liabilities | | 40,932 | | | 42,493 | | | | | | | | | |
| Long-term debt (Note 4) | | 30,263 | | | 32,635 | | | | | | | | | |
| Deferred taxes on income (Note 5) | | 6,507 | | | 7,214 | | | | | | | | | |
| Employee related obligations (Note 6) | | 10,512 | | | 10,771 | | | | | | | | | |
| Long-term taxes payable (Note 5) | | 6,568 | | | 6,559 | | | | | | | | | |
| Other liabilities | | 11,941 | | | 11,944 | | | | | | | | | |
| Total liabilities | | $ | 106,723 | | | 111,616 | | | | | | | | |
| Commitments and Contingencies (Note 11) | | | | | | | | | | | | | | |
| Shareholders’ equity: | | | | | | | | | | | | | | |
| Common stock — par value $1.00per share (authorized4,320,000,000shares; issued3,119,843,000shares) | | $ | 3,120 | | | 3,120 | | | | | | | | |
| Accumulated other comprehensive income (loss) (Note 7) | | (15,328) | | | (15,242) | | | | | | | | | |
| Retained earnings | | 116,508 | | | 113,890 | | | | | | | | | |
| Less: common stock held in treasury, at cost (487,141,000and487,331,000shares) | | 38,466 | | | 38,490 | | | | | | | | | |
| Total shareholders’ equity | | 65,834 | | | 63,278 | | | | | | | | | |
| Total liabilities and shareholders' equity | | $ | 172,557 | | | 174,894 | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 |
|:------------------------------------------------------------------------------------------|:-----------|:--------------------------|:-----------|:--------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | |
| | | Fiscal Three Months Ended | | | | | | | | | | | | |
| | | April 4,2021 | | March 29,2020 | | | | | | | | | | |
| CASH FLOWS FROM OPERATING ACTIVITIES | | | | | | | | | | | | | | |
| Net earnings | | $ | 6,197 | | | 5,796 | | | | | | | | |
| Adjustments to reconcile net earnings to cash flows from operating activities: | | | | | | | | | | | | | | |
| Depreciation and amortization of property and intangibles | | 1,894 | | | 1,747 | | | | | | | | | |
| Stock based compensation | | 307 | | | 263 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Asset write-downs | | 14 | | | 11 | | | | | | | | | |
| Contingent consideration reversal | | — | | | (983) | | | | | | | | | |
| Net gain on sale of assets/businesses | | (580) | | | — | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Deferred tax provision | | (730) | | | 54 | | | | | | | | | |
| Credit losses and accounts receivable allowances | | (13) | | | 22 | | | | | | | | | |
| Changes in assets and liabilities, net of effects from acquisitions and divestitures: | | | | | | | | | | | | | | |
| Increase in accounts receivable | | (1,604) | | | (812) | | | | | | | | | |
| Increase in inventories | | (695) | | | (159) | | | | | | | | | |
| Decrease in accounts payable and accrued liabilities | | (2,336) | | | (2,523) | | | | | | | | | |
| Decrease in other current and non-current assets | | 2,522 | | | 271 | | | | | | | | | |
| Decrease in other current and non-current liabilities | | (902) | | | (329) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| NET CASH FLOWS FROM OPERATING ACTIVITIES | | 4,074 | | | 3,358 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM INVESTING ACTIVITIES | | | | | | | | | | | | | | |
| Additions to property, plant and equipment | | (677) | | | (625) | | | | | | | | | |
| Proceeds from the disposal of assets/businesses, net (Note 10) | | 603 | | | 17 | | | | | | | | | |
| Acquisitions, net of cash acquired (Note 10) | | — | | | (939) | | | | | | | | | |
| Purchases of investments | | (5,994) | | | (2,064) | | | | | | | | | |
| Sales of investments | | 5,233 | | | 1,544 | | | | | | | | | |
| Credit support agreements activity, net | | 751 | | | 1,743 | | | | | | | | | |
| Other (primarily licenses and milestones) | | (101) | | | (257) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| NET CASH USED BY INVESTING ACTIVITIES | | (185) | | | (581) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM FINANCING ACTIVITIES | | | | | | | | | | | | | | |
| Dividends to shareholders | | (2,659) | | | (2,505) | | | | | | | | | |
| Repurchase of common stock | | (1,438) | | | (1,711) | | | | | | | | | |
| Proceeds from short-term debt | | 23 | | | 10 | | | | | | | | | |
| Repayment of short-term debt | | (475) | | | (18) | | | | | | | | | |
| Proceeds from long-term debt, net of issuance costs | | 1 | | | — | | | | | | | | | |
| Repayment of long-term debt | | (1,001) | | | (11) | | | | | | | | | |
| Proceeds from the exercise of stock options/employee withholding tax on stock awards, net | | 236 | | | 332 | | | | | | | | | |
| Credit support agreements activity, net | | 212 | | | — | | | | | | | | | |
| Other | | (24) | | | (412) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| NET CASH USED BY FINANCING ACTIVITIES | | (5,125) | | | (4,315) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Effect of exchange rate changes on cash and cash equivalents | | (78) | | | (237) | | | | | | | | | |
| Decrease in cash and cash equivalents | | (1,314) | | | (1,775) | | | | | | | | | |
| Cash and Cash equivalents, beginning of period | | 13,985 | | | 17,305 | | | | | | | | | |
| CASH AND CASH EQUIVALENTS, END OF PERIOD | | $ | 12,671 | | | 15,530 | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Acquisitions | | | | | | | | | | | | | | |
| Fair value of assets acquired | | $ | — | | | 1,136 | | | | | | | | |
| Fair value of liabilities assumed and noncontrolling interests | | — | | | (197) | | | | | | | | | |
| Net cash paid for acquisitions | | $ | — | | | 939 | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 | Column 22 | Column 23 | Column 24 | Column 25 | Column 26 | Column 27 |
|:-----------------------------------------------|:-----------|:---------------------------|:-----------|:----------------|:-----------|:--------------|:-----------|:----------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Fiscal First Quarter Ended | | | | | | | | | | | | | | | | | | | | | | | | |
| | | April 4,2021 | | Percentto Sales | | March 29,2020 | | Percentto Sales | | | | | | | | | | | | | | | | | | |
| Sales to customers (Note 9) | | $ | 22,321 | | | 100.0 | % | | $ | 20,691 | | | 100.0 | % | | | | | | | | | | | | |
| Cost of products sold | | 7,063 | | | 31.7 | | | 7,062 | | | 34.1 | | | | | | | | | | | | | | | |
| Gross profit | | 15,258 | | | 68.3 | | | 13,629 | | | 65.9 | | | | | | | | | | | | | | | |
| Selling, marketing and administrative expenses | | 5,432 | | | 24.3 | | | 5,203 | | | 25.1 | | | | | | | | | | | | | | | |
| Research and development expense | | 3,178 | | | 14.2 | | | 2,580 | | | 12.5 | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Interest income | | (15) | | | (0.1) | | | (67) | | | (0.3) | | | | | | | | | | | | | | | |
| Interest expense, net of portion capitalized | | 63 | | | 0.3 | | | 25 | | | 0.1 | | | | | | | | | | | | | | | |
| Other (income) expense, net | | (882) | | | (3.9) | | | (679) | | | (3.3) | | | | | | | | | | | | | | | |
| Restructuring (Note 12) | | 53 | | | 0.2 | | | 58 | | | 0.3 | | | | | | | | | | | | | | | |
| Earnings before provision for taxes on income | | 7,429 | | | 33.3 | | | 6,509 | | | 31.5 | | | | | | | | | | | | | | | |
| Provision for taxes on income (Note 5) | | 1,232 | | | 5.5 | | | 713 | | | 3.5 | | | | | | | | | | | | | | | |
| NET EARNINGS | | $ | 6,197 | | | 27.8 | % | | $ | 5,796 | | | 28.0 | % | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| NET EARNINGS PER SHARE (Note 8) | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | $ | 2.35 | | | | | $ | 2.20 | | | | | | | | | | | | | | | | | |
| Diluted | | $ | 2.32 | | | | | $ | 2.17 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| AVG. SHARES OUTSTANDING | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | 2,631.6 | | | | | 2,633.7 | | | | | | | | | | | | | | | | | | | |
| Diluted | | 2,672.7 | | | | | 2,671.0 | | | | | | | | | | | | | | | | | | | |
---
English News:
The Janssen Pharmaceutical Companies of Johnson & Johnson announced today that they have submitted a Marketing Authorisation Application (MAA) to the European Medicines Agency (EMA) seeking approval of cilta-cel, an investigational B cell maturation antigen (BCMA)-directed chimeric antigen receptor T cell (CAR-T) therapy, for the treatment of patients with relapsed and/or refractory multiple myeloma. The application is supported by positive results from the ongoing Phase 1b/2 CARTITUDE-1 study, investigating the safety and efficacy of cilta-cel.1,2 The latest results were presented at the American Society of Hematology (ASH) 2020 Annual Meeting. Clinical development is ongoing with patients enrolled globally in various studies, including sites in Europe, the United States of America, China and Japan.1,2 Despite advances in the treatment of multiple myeloma, there remains a high unmet need, especially for patients whose disease continues to progress, said Peter Lebowitz, M.D., PhD., Global Therapeutic Area Head, Oncology, Janssen Research & Development, LLC. Through our collaboration with Legend Biotech, we continue to expedite the development of cilta-cel with a focus and priority on the patients who may benefit from this novel immunotherapy in the future. CART therapy is a highly personalised treatment platform where a patients own T-cells are re-programmed to recognise and attack cancer cells.3 In early 2021, the EMA granted accelerated assessment for cilta-cel.4 Accelerated assessment is granted when a medicinal product is expected to be of major public health interest and a therapeutic innovation, and can significantly reduce the review timelines to evaluate an MAA.5 Janssen has been advancing the science of oncology for more than 30 years, and we see great opportunity in the area of cell therapy and through our innovative platforms, says Mathai Mammen, M.D., Ph.D., Global Head, Janssen Research & Development, Johnson & Johnson. We are continuing to harness our deep scientific expertise in multiple myeloma as we look to advance therapeutic options, deepen clinical responses, and drive towards improved patient outcomes. Todays submission to the EMA epitomises how we strive to make a meaningful impact in the multiple myeloma landscape through advancing innovative treatments for patients, says Saskia De Haes, Vice President, EMEA Regulatory Affairs, Janssen R&D BE. We look forward to working in partnership with health authorities, as part of the accelerated assessment process, to support these patients by ensuring timely access to the latest therapeutic options. A Biologics License Application seeking approval of cilta-cel for the treatment of relapsed and/or refractory multiple myeloma is currently under review by the United States Food and Drug Administration.6 # ENDS # About CARTITUDE-1 CARTITUDE-1 (NCT03548207) is an ongoing Phase 1b/2, open-label, multicentre study evaluating the safety and efficacy of JNJ-68284528 (JNJ-4528) in adults with relapsed or refractory multiple myeloma who have received at least three prior lines of therapy or are double refractory to a proteasome inhibitor (PI) and an immunomodulatory drug (IMiD); have received a PI, IMiD and an anti-CD38 antibody.2 The primary objective of the Phase 1b portion of the study is to characterise the safety and confirm the dose of JNJ-68284528 (JNJ-4528), which was informed by the first-in-human study with LCAR-B38M CAR-T cells (LEGEND-2).2 The primary objective for the Phase 2 portion of the study is to evaluate the efficacy of JNJ-4528 (primary endpoint: overall response rate as defined by the International Myeloma Working Group response criteria).2 About Ciltacabtagene Autoleucel (cilta-cel) Cilta-cel is an investigational chimeric antigen receptor T cell (CAR-T) therapy for the treatment of patients with multiple myeloma. Cilta-cel is a differentiated CAR-T therapy with two BCMA-targeting single domain antibodies.1 CAR-T cells are an innovative approach to targeting cancer cells by harnessing the power of a patients own immune system. 7 BCMA is a protein that is highly expressed on myeloma cells.8 In December 2017, Janssen Biotech, Inc. (Janssen) entered into an exclusive worldwide license and collaboration agreement with Legend Biotech to develop and commercialise cilta-cel.9 In May 2018, Janssen initiated a Phase 1b/2 CARTITUDE-1 trial (NCT03548207) to evaluate the efficacy and safety of cilta-cel in adults with relapsed and/or refractory multiple myeloma, informed by the LEGEND-2 study results.2,10 In 2019, cilta-cel was granted PRIME (PRIority MEdicines) designation by the European Medicines Agency (EMA).11 PRIME offers enhanced interaction and early dialogue with developers of promising medicines, to optimise drug development plans and speed up evaluation of cutting-edge, scientific advances that target a high unmet medical need.12 In 2020, the European Commission granted orphan designation for cilta-cel.13 About Multiple Myeloma Multiple myeloma (MM) is an incurable blood cancer that starts in the bone marrow and is characterised by an excessive proliferation of plasma cells.14 In Europe, 50,918 people were diagnosed with MM in 2020, and more than 32,400 patients died.15 Around 50 percent of newly diagnosed patients do not reach five-year survival,16 and approximately 10 percent of patients with multiple myeloma will die within one year of diagnosis.17 Although treatment may result in remission, unfortunately, patients will most likely relapse as there is currently no cure.18 Refractory MM is when a patients disease progresses within 60 days of their last therapy.19 Relapsed cancer is when the disease has returned after a period of initial, partial or complete remission.20 While some patients with MM have no symptoms at all, others are diagnosed due to symptoms that can include bone problems, low blood counts, calcium elevation, kidney problems or infections.21 Patients who relapse after treatment with standard therapies, including protease inhibitors and immunomodulatory agents, have poor prognoses and require new therapies for continued disease control.22 About the Janssen Pharmaceutical Companies of Johnson & Johnson At Janssen, were creating a future where disease is a thing of the past. Were the Pharmaceutical Companies of Johnson & Johnson, working tirelessly to make that future a reality for patients everywhere by fighting sickness with science, improving access with ingenuity, and healing hopelessness with heart. We focus on areas of medicine where we can make the biggest difference: Cardiovascular & Metabolism, Immunology, Infectious Diseases & Vaccines, Neuroscience, Oncology, and Pulmonary Hypertension. Learn more at www.janssen.com/emea. Follow us at www.twitter.com/janssenEMEA for our latest news. Janssen Pharmaceutica NV, Janssen R&D BE, and Janssen Research & Development, LLC are part of the Janssen Pharmaceutical Companies of Johnson & Johnson.
Chinese News:
耶伦的“鹰派”言论“带崩”了周二的美股走势。当天，她火速发表了澄清言论，第二天，多位美联储官员也重申通胀可控，美股市场在周三终于“稳住了”，道指还创下盘中新高。抗疫方面也有大事，拜登政府宣布将放弃新冠疫苗的知识产权专利。三家疫苗巨头市值蒸发500亿，板块概念股中还有一只股票跌了16%。多位美联储官员重申通胀可控道指再创盘中新高 当地时间周二，耶伦的讲话引发了市场震荡，投资者对于通胀的担忧也愈发强烈。周二盘后耶伦澄清没有对美联储政策进行预测或建议，周三，美联储多位官员也开始发声，美股也“稳住了”，没有延续大幅下跌的走势。当地时间周三，美联储副主席克拉里达表示现在还不应该讨论缩减购债规模，而且美国经济距离目标还有很长的路要走。他还表示，周二美国财长耶伦已经表明了她没有对美联储的政策进行预测或提出建议。克拉里达还表示希望看到经济方面的实际进展，但美国经济目前还没有取得实质性进展。克拉里达认为，美国的实际失业率接近10%，就业人数仍比疫情爆发前少800万；在就业市场复苏之际，快速的经济增长是受欢迎的。同一天，芝加哥联储主席埃文斯表示，尽管政府为应对疫情推出了前所未有的财政支出计划，但美国的通货膨胀依然不太可能失控；如果就业目标达到，但平均通胀率没有达到2%，那么应该继续实行宽松政策。波士顿联储主席罗森伯格表示，今年通胀率上升是暂时的；最有可能的结果依然是通胀正常化，接近2%的目标；如果通胀出现问题，美联储有应对的工具。克利夫兰联储主席梅斯特称，即使通胀超过美联储的目标水平2%，也难以持续满足联储有关加息的利率指引要求。美联储对市场的安抚起了一定效果，美股三大股指周三整体呈现窄幅震荡的走势，未继续大幅下行。截至收盘，道琼斯指数涨0.29%，报34230.34点。纳斯达克指数跌0.37%，报13582.42点。标普500指数涨0.07%，报4167.59点。 道指还在盘中创下历史新高。拜登政府：将放弃新冠疫苗的知识产权专利 疫苗概念股下挫，最多跌了16% 美国终于表态将豁免新冠疫苗知识产权，疫苗概念股立马跌了.据央视，拜登政府当地时间5月5日发表一项决定，表示美国将放弃新冠肺炎疫苗的知识产权专利。美国贸易部部长戴琪(Katherine Tai)5日在一份声明中宣布了美国政府的这一决定。此前，美国制药商曾就此事进行了激烈的内部辩论和大力反击。戴琪表示，政府此举是为了尽快普及安全有效的疫苗，结束新冠肺炎疫情。她同时表示，美国政府将继续加强与私营部门和所有可能伙伴的合作，扩大疫苗的制造和分销，以及努力增加生产这些疫苗所需的原材料。美国此举有可能扩大新冠肺炎疫苗的全球供应，缩小富国和穷国之间的疫苗接种差距。美国白宫办公厅主任罗恩·克莱因(Ron Klain)2日曾表示，知识产权是全球新冠肺炎疫苗短缺问题的一部分，但更大的问题在于制造业。他说，白宫将在“未来几天”透露更多消息。据新华社，此前，世界卫生组织总干事谭德塞和英国前首相戈登·布朗于本月3日共同呼吁暂时豁免新冠疫苗知识产权。谭德塞在当天举行的线上记者会上说，过去两周全球报告的新增新冠确诊病例数比疫情开始后的头6个月加起来还要多；上周印度和巴西报告的新增感染病例数占全球半数以上，还有许多国家面临非常脆弱的局势。谭德塞表示，如果要为大多数成年人接种疫苗以实现群体免疫，需要的疫苗将大大超过现有数量；为提高疫苗产量，暂时豁免疫苗知识产权非常重要，而这并不是一个“慈善问题”。受美国表态将放弃新冠肺炎疫苗专利这一消息的影响，多支疫苗概念股下跌。Vaxart跌幅最大，收盘跌幅接近16%。 三家疫苗巨头市值蒸发500亿 Moderna跌超6%，市值蒸发43亿美元，约合280亿人民币。 Biotech跌超3%，市值蒸发15亿美元，约合97亿人民币。强生微跌0.42%，市值蒸发18.55亿美元，约合120亿人民币。周三，上述三家疫苗巨头市值蒸发76.55亿美元，约合497亿人民币。 辉瑞和阿斯利康逆势上涨，其中，阿斯利康为英国公司。这一通胀指标创13年新高 亿万富翁投资人警告加息或提前 即使耶伦紧急澄清，美联储多位官员也发声，部分关于通胀的指标还是创下了多年新高。当地时间周二，彭博大宗商品现货指数攀升至2011年以来的最高水平，创10年新高。当地时间周三，美国5年期盈亏平衡通胀率一举突破2.7%，创下2008年7月以来的最高水平，创13年新高；10年期盈亏平衡通胀率周三也涨至多年来高点。亿万富豪投资人Cooperman认为，不断上升的通货膨胀率或将迫使美联储提前至明年加息。当地时间周三，他在接受彭博专访时表示，“我猜美联储会对通胀感到惊讶，这会更难办。市场可能会对美联储在2022年的某个时候加息感到震惊，这也将是他们因通货膨胀而被迫做出的决策。”荷兰合作银行分析师Richard McGuire表示，盈亏平衡通胀率的上涨意味着市场还存在较强的不确定性，虽然政策决策者承诺通胀率上升只是暂时现象，但投资者还是对疫情后将面临的巨大通胀压力感到担忧。
Japanese News:
米国の医薬品・ヘルスケア大手、ジョンソン・エンド・ジョンソン（J&J）が発表した今年第1四半期（1〜3月期）の決算は、市場予想を上回る好調な利益を記録した。新型コロナウイルスのワクチンについては売上が1億ドルに達したが、安全性への懸念から米国内や南アフリカでは一時的に接種が見合わせられている状況だ。同社はまた、株主配当を増額すると発表した。 J&Jの新型コロナワクチンについては、米保健当局が接種を受けた女性6人に生じた血栓症状を調査するため、現在一時的な使用中止措置を取っている。南アフリカでも同様に接種が一旦停止されている。一方、同社は5月末までに米国内で1億回分の供給を計画しており、4月19日時点ですでに1700万回以上が提供済みである。 シティグループのアナリスト、ジョアン・ウェンシュ氏はリポート内で「ワクチンに対して複数の疑問や懸念点は生じているものの、J&J全体としての業績回復の勢いを阻害するものではない」と指摘した。 特別項目を除いた第1四半期の調整後1株当たり利益は2.59ドルとなり、リフィニティブ調査による市場予想平均（2.34ドル）を上回った。 同期の売上高は前年同期比で7.9％増加し、223億2000万ドルを記録した。こちらもアナリストの予測である219億8000万ドルを超える結果となった。 また、2021年通期の調整後1株利益については、9.42～9.57ドルとの見通しを示した（前回予測は9.40～9.60ドル）。 さらに四半期配当についても、1株当たり1.01ドルから1.06ドルへと引き上げる方針を発表した。
Spanish News:
La multinacional farmacéutica Johnson & Johnson registró en el primer trimestre ventas notablemente superiores a las estimaciones del mercado, mientras aguarda una resolución por parte de las autoridades sanitarias estadounidenses acerca del posible reinicio del uso de su vacuna contra el COVID-19. En cuanto a las previsiones anuales, la empresa ajustó ligeramente sus expectativas para 2021, ubicando ahora la ganancia ajustada por acción entre 9,42 y 9,57 dólares, una leve modificación frente al rango de 9,40 a 9,60 dólares previsto inicialmente en enero. Esta nueva estimación está alineada con el consenso de Wall Street, situado en 9,50 dólares por acción. Durante el primer trimestre, la compañía obtuvo ingresos totales por 22.320 millones de dólares, superando claramente la estimación promedio de analistas, que ascendía a 21.980 millones de dólares. La semana anterior, las autoridades sanitarias estadounidenses decidieron suspender temporalmente la administración de la vacuna contra COVID-19 desarrollada por Johnson & Johnson, después de que seis mujeres experimentaran raros pero graves casos de coágulos cerebrales tras recibir la dosis. Un comité de expertos médicos analizará próximamente estos eventos adversos para determinar si se levanta la suspensión. Hasta mediados de abril, aproximadamente 7,7 millones de ciudadanos estadounidenses habían recibido esta vacuna. Aunque en enero el director financiero Joseph Wolk anticipó a Bloomberg que la empresa probablemente ofrecería una previsión de ventas anuales de la vacuna en abril, Johnson & Johnson decidió no emitir aún una estimación formal de ingresos para este producto debido al actual contexto de incertidumbre. Sin embargo, la compañía sí comunicó ingresos de 100 millones de dólares en Estados Unidos derivados de la vacuna durante el primer trimestre. Actualmente, J&J distribuye la vacuna bajo un modelo sin fines de lucro, con un precio máximo de aproximadamente 10 dólares por dosis, mientras dure la pandemia. Johnson & Johnson continúa defendiendo el balance positivo entre beneficios y riesgos de su vacuna. Se espera que sus ejecutivos aborden en detalle el tema durante la conferencia telefónica con inversores programada para esta mañana. Por otro lado, la empresa anunció un aumento del 5% en su dividendo trimestral, que pasará de 1,01 a 1,06 dólares por acción. En las operaciones previas a la apertura del mercado, las acciones mostraban un leve descenso del 0,3%, ubicándose en 162,21 dólares. Desde inicios de año hasta el cierre del día anterior, las acciones acumulaban una ganancia del 3,4%. En relación con las diferentes unidades del negocio, la división farmacéutica continuó siendo clave, representando más del 50% de los ingresos totales. Sus ventas aumentaron un 10% interanual, alcanzando 12.200 millones de dólares durante este período. Dentro de este segmento destacó especialmente el medicamento inmunoterapéutico Stelara, cuyas ventas crecieron un 18%, generando ingresos de 2.200 millones de dólares. Aunque el impacto de la pandemia afectó inicialmente al segmento de dispositivos médicos debido al aplazamiento de cirugías y procedimientos hospitalarios, la división registró una notable recuperación en este trimestre, incrementando sus ventas un 11% respecto al año previo, hasta llegar a los 6.580 millones de dólares. Sin embargo, la división de productos de consumo registró una caída del 2,3%, alcanzando ventas por 3.540 millones de dólares. Johnson & Johnson atribuyó este retroceso al fuerte contraste con el primer trimestre de 2020, cuando la pandemia generó un aumento significativo en la demanda de productos básicos como Tylenol y Listerine, debido al abastecimiento preventivo por parte de los consumidores. En términos globales, la farmacéutica alcanzó en el primer trimestre una ganancia ajustada por acción de 2,59 dólares, frente a los 2,30 dólares del mismo período del año anterior.
Greek News:
Εν μέσω αυξανόμενων διεθνών ανησυχιών σχετικά με σπάνια περιστατικά θρομβώσεων, αρκετές χώρες επανεξετάζουν τη χρήση του εμβολίου της Johnson & Johnson κατά του Covid-19, προκαλώντας πιθανές επιπτώσεις στην πορεία των εμβολιαστικών προγραμμάτων και στις οικονομικές προβλέψεις. Συγκεκριμένα, η Δανία απέσυρε το εμβόλιο από το εθνικό της εμβολιαστικό πρόγραμμα, εκτιμώντας ότι οι πιθανοί κίνδυνοι είναι περισσότεροι από τις αναμενόμενες οφειλές. Η απόφαση αυτή εκτιμάτε ότι θα καθυστερήσει τις εμβολιαστικές προσπάθειες κατά περίπου τέσσερις εβδομάδες και ως αποτέλεσμα να επηρεάσει την εθνική οικονομική δραστηριότητα. Ωστόσο, οι αρχές δεν απέκλεισαν την επανεξέταση της στάσης τους, εφόσον υπάρξουν νέα επιστημονικά δεδομένα. Παρομοίως στον Καναδά, η εθνική επιστημονική επιτροπή συνέστησε τη χρήση του συγκεκριμένου εμβολίου μόνο σε άτομα άνω των 30 ετών, ενώ η Γαλλία έχει περιορίσει τη χρήση του σε πολίτες άνω των 55 ετών. Οι διαφοροποιημένες εθνικές προσεγγίσεις αναδεικνύουν την αβεβαιότητα που περιβάλλει την αξιοποίηση του συγκεκριμένου εμβολίου και ενδέχεται να επηρεάσουν τους ρυθμούς επίτευξης ανοσίας, με άμεσες συνέπειες για την οικονομική ανάκαμψη της εκάστοτε χώρας. Παράλληλα, οι εξελίξεις αυτές δημιουργούν νέες παραμέτρους στον σχεδιασμό της υγειονομικής πολιτικής και της διαχείρισης των αποθεμάτων εμβολίων σε παγκόσμιο επίπεδο.
Question:
What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: J&J maintains strong margins through diversified revenue streams across pharmaceuticals, medical devices, and consumer products. The company continues R&D investment (14.2% of sales) despite vaccine challenges. Gross margin remains robust at 68.3%. The pharmaceutical division's 10% growth and medical devices' 11% recovery offset consumer products' 2.3% decline. The vaccine is distributed at no-profit basis during pandemic ($10 max per dose).
Financial Statement Evidence: "Gross profit $15,258" (68.3% margin); "Research and development expense $3,178" (14.2% of sales); "Earnings before provision for taxes on income $7,429" (33.3% of sales) |
JNJ_20210430 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 |
|:-----------------------------------------------------------------------------------------------------|:-----------|:--------------|:-----------|:----------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | |
| | | April 4, 2021 | | January 3, 2021 | | | | | | | | | | |
| ASSETS | | | | | | | | | | | | | | |
| Current assets: | | | | | | | | | | | | | | |
| Cash and cash equivalents | | $ | 12,671 | | | 13,985 | | | | | | | | |
| Marketable securities | | 11,948 | | | 11,200 | | | | | | | | | |
| Accounts receivable, trade, less allowances for doubtful accounts and credit losses $270(2020, $293) | | 14,938 | | | 13,576 | | | | | | | | | |
| Inventories (Note 2) | | 9,952 | | | 9,344 | | | | | | | | | |
| Prepaid expenses and other | | 3,024 | | | 3,132 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Total current assets | | 52,533 | | | 51,237 | | | | | | | | | |
| Property, plant and equipment at cost | | 46,430 | | | 46,804 | | | | | | | | | |
| Less: accumulated depreciation | | (28,063) | | | (28,038) | | | | | | | | | |
| Property, plant and equipment, net | | 18,367 | | | 18,766 | | | | | | | | | |
| Intangible assets, net (Note 3) | | 51,110 | | | 53,402 | | | | | | | | | |
| Goodwill (Note 3) | | 35,688 | | | 36,393 | | | | | | | | | |
| Deferred taxes on income (Note 5) | | 8,321 | | | 8,534 | | | | | | | | | |
| Other assets | | 6,538 | | | 6,562 | | | | | | | | | |
| Total assets | | $ | 172,557 | | | 174,894 | | | | | | | | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | | | | | | | | |
| Current liabilities: | | | | | | | | | | | | | | |
| Loans and notes payable | | $ | 3,350 | | | 2,631 | | | | | | | | |
| Accounts payable | | 8,503 | | | 9,505 | | | | | | | | | |
| Accrued liabilities | | 13,223 | | | 13,968 | | | | | | | | | |
| Accrued rebates, returns and promotions | | 11,919 | | | 11,513 | | | | | | | | | |
| Accrued compensation and employee related obligations | | 2,060 | | | 3,484 | | | | | | | | | |
| Accrued taxes on income (Note 5) | | 1,877 | | | 1,392 | | | | | | | | | |
| Total current liabilities | | 40,932 | | | 42,493 | | | | | | | | | |
| Long-term debt (Note 4) | | 30,263 | | | 32,635 | | | | | | | | | |
| Deferred taxes on income (Note 5) | | 6,507 | | | 7,214 | | | | | | | | | |
| Employee related obligations (Note 6) | | 10,512 | | | 10,771 | | | | | | | | | |
| Long-term taxes payable (Note 5) | | 6,568 | | | 6,559 | | | | | | | | | |
| Other liabilities | | 11,941 | | | 11,944 | | | | | | | | | |
| Total liabilities | | $ | 106,723 | | | 111,616 | | | | | | | | |
| Commitments and Contingencies (Note 11) | | | | | | | | | | | | | | |
| Shareholders’ equity: | | | | | | | | | | | | | | |
| Common stock — par value $1.00per share (authorized4,320,000,000shares; issued3,119,843,000shares) | | $ | 3,120 | | | 3,120 | | | | | | | | |
| Accumulated other comprehensive income (loss) (Note 7) | | (15,328) | | | (15,242) | | | | | | | | | |
| Retained earnings | | 116,508 | | | 113,890 | | | | | | | | | |
| Less: common stock held in treasury, at cost (487,141,000and487,331,000shares) | | 38,466 | | | 38,490 | | | | | | | | | |
| Total shareholders’ equity | | 65,834 | | | 63,278 | | | | | | | | | |
| Total liabilities and shareholders' equity | | $ | 172,557 | | | 174,894 | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 |
|:------------------------------------------------------------------------------------------|:-----------|:--------------------------|:-----------|:--------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | |
| | | Fiscal Three Months Ended | | | | | | | | | | | | |
| | | April 4,2021 | | March 29,2020 | | | | | | | | | | |
| CASH FLOWS FROM OPERATING ACTIVITIES | | | | | | | | | | | | | | |
| Net earnings | | $ | 6,197 | | | 5,796 | | | | | | | | |
| Adjustments to reconcile net earnings to cash flows from operating activities: | | | | | | | | | | | | | | |
| Depreciation and amortization of property and intangibles | | 1,894 | | | 1,747 | | | | | | | | | |
| Stock based compensation | | 307 | | | 263 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Asset write-downs | | 14 | | | 11 | | | | | | | | | |
| Contingent consideration reversal | | — | | | (983) | | | | | | | | | |
| Net gain on sale of assets/businesses | | (580) | | | — | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Deferred tax provision | | (730) | | | 54 | | | | | | | | | |
| Credit losses and accounts receivable allowances | | (13) | | | 22 | | | | | | | | | |
| Changes in assets and liabilities, net of effects from acquisitions and divestitures: | | | | | | | | | | | | | | |
| Increase in accounts receivable | | (1,604) | | | (812) | | | | | | | | | |
| Increase in inventories | | (695) | | | (159) | | | | | | | | | |
| Decrease in accounts payable and accrued liabilities | | (2,336) | | | (2,523) | | | | | | | | | |
| Decrease in other current and non-current assets | | 2,522 | | | 271 | | | | | | | | | |
| Decrease in other current and non-current liabilities | | (902) | | | (329) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| NET CASH FLOWS FROM OPERATING ACTIVITIES | | 4,074 | | | 3,358 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM INVESTING ACTIVITIES | | | | | | | | | | | | | | |
| Additions to property, plant and equipment | | (677) | | | (625) | | | | | | | | | |
| Proceeds from the disposal of assets/businesses, net (Note 10) | | 603 | | | 17 | | | | | | | | | |
| Acquisitions, net of cash acquired (Note 10) | | — | | | (939) | | | | | | | | | |
| Purchases of investments | | (5,994) | | | (2,064) | | | | | | | | | |
| Sales of investments | | 5,233 | | | 1,544 | | | | | | | | | |
| Credit support agreements activity, net | | 751 | | | 1,743 | | | | | | | | | |
| Other (primarily licenses and milestones) | | (101) | | | (257) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| NET CASH USED BY INVESTING ACTIVITIES | | (185) | | | (581) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM FINANCING ACTIVITIES | | | | | | | | | | | | | | |
| Dividends to shareholders | | (2,659) | | | (2,505) | | | | | | | | | |
| Repurchase of common stock | | (1,438) | | | (1,711) | | | | | | | | | |
| Proceeds from short-term debt | | 23 | | | 10 | | | | | | | | | |
| Repayment of short-term debt | | (475) | | | (18) | | | | | | | | | |
| Proceeds from long-term debt, net of issuance costs | | 1 | | | — | | | | | | | | | |
| Repayment of long-term debt | | (1,001) | | | (11) | | | | | | | | | |
| Proceeds from the exercise of stock options/employee withholding tax on stock awards, net | | 236 | | | 332 | | | | | | | | | |
| Credit support agreements activity, net | | 212 | | | — | | | | | | | | | |
| Other | | (24) | | | (412) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| NET CASH USED BY FINANCING ACTIVITIES | | (5,125) | | | (4,315) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Effect of exchange rate changes on cash and cash equivalents | | (78) | | | (237) | | | | | | | | | |
| Decrease in cash and cash equivalents | | (1,314) | | | (1,775) | | | | | | | | | |
| Cash and Cash equivalents, beginning of period | | 13,985 | | | 17,305 | | | | | | | | | |
| CASH AND CASH EQUIVALENTS, END OF PERIOD | | $ | 12,671 | | | 15,530 | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Acquisitions | | | | | | | | | | | | | | |
| Fair value of assets acquired | | $ | — | | | 1,136 | | | | | | | | |
| Fair value of liabilities assumed and noncontrolling interests | | — | | | (197) | | | | | | | | | |
| Net cash paid for acquisitions | | $ | — | | | 939 | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 | Column 22 | Column 23 | Column 24 | Column 25 | Column 26 | Column 27 |
|:-----------------------------------------------|:-----------|:---------------------------|:-----------|:----------------|:-----------|:--------------|:-----------|:----------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Fiscal First Quarter Ended | | | | | | | | | | | | | | | | | | | | | | | | |
| | | April 4,2021 | | Percentto Sales | | March 29,2020 | | Percentto Sales | | | | | | | | | | | | | | | | | | |
| Sales to customers (Note 9) | | $ | 22,321 | | | 100.0 | % | | $ | 20,691 | | | 100.0 | % | | | | | | | | | | | | |
| Cost of products sold | | 7,063 | | | 31.7 | | | 7,062 | | | 34.1 | | | | | | | | | | | | | | | |
| Gross profit | | 15,258 | | | 68.3 | | | 13,629 | | | 65.9 | | | | | | | | | | | | | | | |
| Selling, marketing and administrative expenses | | 5,432 | | | 24.3 | | | 5,203 | | | 25.1 | | | | | | | | | | | | | | | |
| Research and development expense | | 3,178 | | | 14.2 | | | 2,580 | | | 12.5 | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Interest income | | (15) | | | (0.1) | | | (67) | | | (0.3) | | | | | | | | | | | | | | | |
| Interest expense, net of portion capitalized | | 63 | | | 0.3 | | | 25 | | | 0.1 | | | | | | | | | | | | | | | |
| Other (income) expense, net | | (882) | | | (3.9) | | | (679) | | | (3.3) | | | | | | | | | | | | | | | |
| Restructuring (Note 12) | | 53 | | | 0.2 | | | 58 | | | 0.3 | | | | | | | | | | | | | | | |
| Earnings before provision for taxes on income | | 7,429 | | | 33.3 | | | 6,509 | | | 31.5 | | | | | | | | | | | | | | | |
| Provision for taxes on income (Note 5) | | 1,232 | | | 5.5 | | | 713 | | | 3.5 | | | | | | | | | | | | | | | |
| NET EARNINGS | | $ | 6,197 | | | 27.8 | % | | $ | 5,796 | | | 28.0 | % | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| NET EARNINGS PER SHARE (Note 8) | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | $ | 2.35 | | | | | $ | 2.20 | | | | | | | | | | | | | | | | | |
| Diluted | | $ | 2.32 | | | | | $ | 2.17 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| AVG. SHARES OUTSTANDING | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | 2,631.6 | | | | | 2,633.7 | | | | | | | | | | | | | | | | | | | |
| Diluted | | 2,672.7 | | | | | 2,671.0 | | | | | | | | | | | | | | | | | | | |
---
English News:
The Janssen Pharmaceutical Companies of Johnson & Johnson announced today that they have submitted a Marketing Authorisation Application (MAA) to the European Medicines Agency (EMA) seeking approval of cilta-cel, an investigational B cell maturation antigen (BCMA)-directed chimeric antigen receptor T cell (CAR-T) therapy, for the treatment of patients with relapsed and/or refractory multiple myeloma. The application is supported by positive results from the ongoing Phase 1b/2 CARTITUDE-1 study, investigating the safety and efficacy of cilta-cel.1,2 The latest results were presented at the American Society of Hematology (ASH) 2020 Annual Meeting. Clinical development is ongoing with patients enrolled globally in various studies, including sites in Europe, the United States of America, China and Japan.1,2 Despite advances in the treatment of multiple myeloma, there remains a high unmet need, especially for patients whose disease continues to progress, said Peter Lebowitz, M.D., PhD., Global Therapeutic Area Head, Oncology, Janssen Research & Development, LLC. Through our collaboration with Legend Biotech, we continue to expedite the development of cilta-cel with a focus and priority on the patients who may benefit from this novel immunotherapy in the future. CART therapy is a highly personalised treatment platform where a patients own T-cells are re-programmed to recognise and attack cancer cells.3 In early 2021, the EMA granted accelerated assessment for cilta-cel.4 Accelerated assessment is granted when a medicinal product is expected to be of major public health interest and a therapeutic innovation, and can significantly reduce the review timelines to evaluate an MAA.5 Janssen has been advancing the science of oncology for more than 30 years, and we see great opportunity in the area of cell therapy and through our innovative platforms, says Mathai Mammen, M.D., Ph.D., Global Head, Janssen Research & Development, Johnson & Johnson. We are continuing to harness our deep scientific expertise in multiple myeloma as we look to advance therapeutic options, deepen clinical responses, and drive towards improved patient outcomes. Todays submission to the EMA epitomises how we strive to make a meaningful impact in the multiple myeloma landscape through advancing innovative treatments for patients, says Saskia De Haes, Vice President, EMEA Regulatory Affairs, Janssen R&D BE. We look forward to working in partnership with health authorities, as part of the accelerated assessment process, to support these patients by ensuring timely access to the latest therapeutic options. A Biologics License Application seeking approval of cilta-cel for the treatment of relapsed and/or refractory multiple myeloma is currently under review by the United States Food and Drug Administration.6 # ENDS # About CARTITUDE-1 CARTITUDE-1 (NCT03548207) is an ongoing Phase 1b/2, open-label, multicentre study evaluating the safety and efficacy of JNJ-68284528 (JNJ-4528) in adults with relapsed or refractory multiple myeloma who have received at least three prior lines of therapy or are double refractory to a proteasome inhibitor (PI) and an immunomodulatory drug (IMiD); have received a PI, IMiD and an anti-CD38 antibody.2 The primary objective of the Phase 1b portion of the study is to characterise the safety and confirm the dose of JNJ-68284528 (JNJ-4528), which was informed by the first-in-human study with LCAR-B38M CAR-T cells (LEGEND-2).2 The primary objective for the Phase 2 portion of the study is to evaluate the efficacy of JNJ-4528 (primary endpoint: overall response rate as defined by the International Myeloma Working Group response criteria).2 About Ciltacabtagene Autoleucel (cilta-cel) Cilta-cel is an investigational chimeric antigen receptor T cell (CAR-T) therapy for the treatment of patients with multiple myeloma. Cilta-cel is a differentiated CAR-T therapy with two BCMA-targeting single domain antibodies.1 CAR-T cells are an innovative approach to targeting cancer cells by harnessing the power of a patients own immune system. 7 BCMA is a protein that is highly expressed on myeloma cells.8 In December 2017, Janssen Biotech, Inc. (Janssen) entered into an exclusive worldwide license and collaboration agreement with Legend Biotech to develop and commercialise cilta-cel.9 In May 2018, Janssen initiated a Phase 1b/2 CARTITUDE-1 trial (NCT03548207) to evaluate the efficacy and safety of cilta-cel in adults with relapsed and/or refractory multiple myeloma, informed by the LEGEND-2 study results.2,10 In 2019, cilta-cel was granted PRIME (PRIority MEdicines) designation by the European Medicines Agency (EMA).11 PRIME offers enhanced interaction and early dialogue with developers of promising medicines, to optimise drug development plans and speed up evaluation of cutting-edge, scientific advances that target a high unmet medical need.12 In 2020, the European Commission granted orphan designation for cilta-cel.13 About Multiple Myeloma Multiple myeloma (MM) is an incurable blood cancer that starts in the bone marrow and is characterised by an excessive proliferation of plasma cells.14 In Europe, 50,918 people were diagnosed with MM in 2020, and more than 32,400 patients died.15 Around 50 percent of newly diagnosed patients do not reach five-year survival,16 and approximately 10 percent of patients with multiple myeloma will die within one year of diagnosis.17 Although treatment may result in remission, unfortunately, patients will most likely relapse as there is currently no cure.18 Refractory MM is when a patients disease progresses within 60 days of their last therapy.19 Relapsed cancer is when the disease has returned after a period of initial, partial or complete remission.20 While some patients with MM have no symptoms at all, others are diagnosed due to symptoms that can include bone problems, low blood counts, calcium elevation, kidney problems or infections.21 Patients who relapse after treatment with standard therapies, including protease inhibitors and immunomodulatory agents, have poor prognoses and require new therapies for continued disease control.22 About the Janssen Pharmaceutical Companies of Johnson & Johnson At Janssen, were creating a future where disease is a thing of the past. Were the Pharmaceutical Companies of Johnson & Johnson, working tirelessly to make that future a reality for patients everywhere by fighting sickness with science, improving access with ingenuity, and healing hopelessness with heart. We focus on areas of medicine where we can make the biggest difference: Cardiovascular & Metabolism, Immunology, Infectious Diseases & Vaccines, Neuroscience, Oncology, and Pulmonary Hypertension. Learn more at www.janssen.com/emea. Follow us at www.twitter.com/janssenEMEA for our latest news. Janssen Pharmaceutica NV, Janssen R&D BE, and Janssen Research & Development, LLC are part of the Janssen Pharmaceutical Companies of Johnson & Johnson.
Chinese News:
耶伦的“鹰派”言论“带崩”了周二的美股走势。当天，她火速发表了澄清言论，第二天，多位美联储官员也重申通胀可控，美股市场在周三终于“稳住了”，道指还创下盘中新高。抗疫方面也有大事，拜登政府宣布将放弃新冠疫苗的知识产权专利。三家疫苗巨头市值蒸发500亿，板块概念股中还有一只股票跌了16%。多位美联储官员重申通胀可控道指再创盘中新高 当地时间周二，耶伦的讲话引发了市场震荡，投资者对于通胀的担忧也愈发强烈。周二盘后耶伦澄清没有对美联储政策进行预测或建议，周三，美联储多位官员也开始发声，美股也“稳住了”，没有延续大幅下跌的走势。当地时间周三，美联储副主席克拉里达表示现在还不应该讨论缩减购债规模，而且美国经济距离目标还有很长的路要走。他还表示，周二美国财长耶伦已经表明了她没有对美联储的政策进行预测或提出建议。克拉里达还表示希望看到经济方面的实际进展，但美国经济目前还没有取得实质性进展。克拉里达认为，美国的实际失业率接近10%，就业人数仍比疫情爆发前少800万；在就业市场复苏之际，快速的经济增长是受欢迎的。同一天，芝加哥联储主席埃文斯表示，尽管政府为应对疫情推出了前所未有的财政支出计划，但美国的通货膨胀依然不太可能失控；如果就业目标达到，但平均通胀率没有达到2%，那么应该继续实行宽松政策。波士顿联储主席罗森伯格表示，今年通胀率上升是暂时的；最有可能的结果依然是通胀正常化，接近2%的目标；如果通胀出现问题，美联储有应对的工具。克利夫兰联储主席梅斯特称，即使通胀超过美联储的目标水平2%，也难以持续满足联储有关加息的利率指引要求。美联储对市场的安抚起了一定效果，美股三大股指周三整体呈现窄幅震荡的走势，未继续大幅下行。截至收盘，道琼斯指数涨0.29%，报34230.34点。纳斯达克指数跌0.37%，报13582.42点。标普500指数涨0.07%，报4167.59点。 道指还在盘中创下历史新高。拜登政府：将放弃新冠疫苗的知识产权专利 疫苗概念股下挫，最多跌了16% 美国终于表态将豁免新冠疫苗知识产权，疫苗概念股立马跌了.据央视，拜登政府当地时间5月5日发表一项决定，表示美国将放弃新冠肺炎疫苗的知识产权专利。美国贸易部部长戴琪(Katherine Tai)5日在一份声明中宣布了美国政府的这一决定。此前，美国制药商曾就此事进行了激烈的内部辩论和大力反击。戴琪表示，政府此举是为了尽快普及安全有效的疫苗，结束新冠肺炎疫情。她同时表示，美国政府将继续加强与私营部门和所有可能伙伴的合作，扩大疫苗的制造和分销，以及努力增加生产这些疫苗所需的原材料。美国此举有可能扩大新冠肺炎疫苗的全球供应，缩小富国和穷国之间的疫苗接种差距。美国白宫办公厅主任罗恩·克莱因(Ron Klain)2日曾表示，知识产权是全球新冠肺炎疫苗短缺问题的一部分，但更大的问题在于制造业。他说，白宫将在“未来几天”透露更多消息。据新华社，此前，世界卫生组织总干事谭德塞和英国前首相戈登·布朗于本月3日共同呼吁暂时豁免新冠疫苗知识产权。谭德塞在当天举行的线上记者会上说，过去两周全球报告的新增新冠确诊病例数比疫情开始后的头6个月加起来还要多；上周印度和巴西报告的新增感染病例数占全球半数以上，还有许多国家面临非常脆弱的局势。谭德塞表示，如果要为大多数成年人接种疫苗以实现群体免疫，需要的疫苗将大大超过现有数量；为提高疫苗产量，暂时豁免疫苗知识产权非常重要，而这并不是一个“慈善问题”。受美国表态将放弃新冠肺炎疫苗专利这一消息的影响，多支疫苗概念股下跌。Vaxart跌幅最大，收盘跌幅接近16%。 三家疫苗巨头市值蒸发500亿 Moderna跌超6%，市值蒸发43亿美元，约合280亿人民币。 Biotech跌超3%，市值蒸发15亿美元，约合97亿人民币。强生微跌0.42%，市值蒸发18.55亿美元，约合120亿人民币。周三，上述三家疫苗巨头市值蒸发76.55亿美元，约合497亿人民币。 辉瑞和阿斯利康逆势上涨，其中，阿斯利康为英国公司。这一通胀指标创13年新高 亿万富翁投资人警告加息或提前 即使耶伦紧急澄清，美联储多位官员也发声，部分关于通胀的指标还是创下了多年新高。当地时间周二，彭博大宗商品现货指数攀升至2011年以来的最高水平，创10年新高。当地时间周三，美国5年期盈亏平衡通胀率一举突破2.7%，创下2008年7月以来的最高水平，创13年新高；10年期盈亏平衡通胀率周三也涨至多年来高点。亿万富豪投资人Cooperman认为，不断上升的通货膨胀率或将迫使美联储提前至明年加息。当地时间周三，他在接受彭博专访时表示，“我猜美联储会对通胀感到惊讶，这会更难办。市场可能会对美联储在2022年的某个时候加息感到震惊，这也将是他们因通货膨胀而被迫做出的决策。”荷兰合作银行分析师Richard McGuire表示，盈亏平衡通胀率的上涨意味着市场还存在较强的不确定性，虽然政策决策者承诺通胀率上升只是暂时现象，但投资者还是对疫情后将面临的巨大通胀压力感到担忧。
Japanese News:
米国の医薬品・ヘルスケア大手、ジョンソン・エンド・ジョンソン（J&J）が発表した今年第1四半期（1〜3月期）の決算は、市場予想を上回る好調な利益を記録した。新型コロナウイルスのワクチンについては売上が1億ドルに達したが、安全性への懸念から米国内や南アフリカでは一時的に接種が見合わせられている状況だ。同社はまた、株主配当を増額すると発表した。 J&Jの新型コロナワクチンについては、米保健当局が接種を受けた女性6人に生じた血栓症状を調査するため、現在一時的な使用中止措置を取っている。南アフリカでも同様に接種が一旦停止されている。一方、同社は5月末までに米国内で1億回分の供給を計画しており、4月19日時点ですでに1700万回以上が提供済みである。 シティグループのアナリスト、ジョアン・ウェンシュ氏はリポート内で「ワクチンに対して複数の疑問や懸念点は生じているものの、J&J全体としての業績回復の勢いを阻害するものではない」と指摘した。 特別項目を除いた第1四半期の調整後1株当たり利益は2.59ドルとなり、リフィニティブ調査による市場予想平均（2.34ドル）を上回った。 同期の売上高は前年同期比で7.9％増加し、223億2000万ドルを記録した。こちらもアナリストの予測である219億8000万ドルを超える結果となった。 また、2021年通期の調整後1株利益については、9.42～9.57ドルとの見通しを示した（前回予測は9.40～9.60ドル）。 さらに四半期配当についても、1株当たり1.01ドルから1.06ドルへと引き上げる方針を発表した。
Spanish News:
La multinacional farmacéutica Johnson & Johnson registró en el primer trimestre ventas notablemente superiores a las estimaciones del mercado, mientras aguarda una resolución por parte de las autoridades sanitarias estadounidenses acerca del posible reinicio del uso de su vacuna contra el COVID-19. En cuanto a las previsiones anuales, la empresa ajustó ligeramente sus expectativas para 2021, ubicando ahora la ganancia ajustada por acción entre 9,42 y 9,57 dólares, una leve modificación frente al rango de 9,40 a 9,60 dólares previsto inicialmente en enero. Esta nueva estimación está alineada con el consenso de Wall Street, situado en 9,50 dólares por acción. Durante el primer trimestre, la compañía obtuvo ingresos totales por 22.320 millones de dólares, superando claramente la estimación promedio de analistas, que ascendía a 21.980 millones de dólares. La semana anterior, las autoridades sanitarias estadounidenses decidieron suspender temporalmente la administración de la vacuna contra COVID-19 desarrollada por Johnson & Johnson, después de que seis mujeres experimentaran raros pero graves casos de coágulos cerebrales tras recibir la dosis. Un comité de expertos médicos analizará próximamente estos eventos adversos para determinar si se levanta la suspensión. Hasta mediados de abril, aproximadamente 7,7 millones de ciudadanos estadounidenses habían recibido esta vacuna. Aunque en enero el director financiero Joseph Wolk anticipó a Bloomberg que la empresa probablemente ofrecería una previsión de ventas anuales de la vacuna en abril, Johnson & Johnson decidió no emitir aún una estimación formal de ingresos para este producto debido al actual contexto de incertidumbre. Sin embargo, la compañía sí comunicó ingresos de 100 millones de dólares en Estados Unidos derivados de la vacuna durante el primer trimestre. Actualmente, J&J distribuye la vacuna bajo un modelo sin fines de lucro, con un precio máximo de aproximadamente 10 dólares por dosis, mientras dure la pandemia. Johnson & Johnson continúa defendiendo el balance positivo entre beneficios y riesgos de su vacuna. Se espera que sus ejecutivos aborden en detalle el tema durante la conferencia telefónica con inversores programada para esta mañana. Por otro lado, la empresa anunció un aumento del 5% en su dividendo trimestral, que pasará de 1,01 a 1,06 dólares por acción. En las operaciones previas a la apertura del mercado, las acciones mostraban un leve descenso del 0,3%, ubicándose en 162,21 dólares. Desde inicios de año hasta el cierre del día anterior, las acciones acumulaban una ganancia del 3,4%. En relación con las diferentes unidades del negocio, la división farmacéutica continuó siendo clave, representando más del 50% de los ingresos totales. Sus ventas aumentaron un 10% interanual, alcanzando 12.200 millones de dólares durante este período. Dentro de este segmento destacó especialmente el medicamento inmunoterapéutico Stelara, cuyas ventas crecieron un 18%, generando ingresos de 2.200 millones de dólares. Aunque el impacto de la pandemia afectó inicialmente al segmento de dispositivos médicos debido al aplazamiento de cirugías y procedimientos hospitalarios, la división registró una notable recuperación en este trimestre, incrementando sus ventas un 11% respecto al año previo, hasta llegar a los 6.580 millones de dólares. Sin embargo, la división de productos de consumo registró una caída del 2,3%, alcanzando ventas por 3.540 millones de dólares. Johnson & Johnson atribuyó este retroceso al fuerte contraste con el primer trimestre de 2020, cuando la pandemia generó un aumento significativo en la demanda de productos básicos como Tylenol y Listerine, debido al abastecimiento preventivo por parte de los consumidores. En términos globales, la farmacéutica alcanzó en el primer trimestre una ganancia ajustada por acción de 2,59 dólares, frente a los 2,30 dólares del mismo período del año anterior.
Greek News:
Εν μέσω αυξανόμενων διεθνών ανησυχιών σχετικά με σπάνια περιστατικά θρομβώσεων, αρκετές χώρες επανεξετάζουν τη χρήση του εμβολίου της Johnson & Johnson κατά του Covid-19, προκαλώντας πιθανές επιπτώσεις στην πορεία των εμβολιαστικών προγραμμάτων και στις οικονομικές προβλέψεις. Συγκεκριμένα, η Δανία απέσυρε το εμβόλιο από το εθνικό της εμβολιαστικό πρόγραμμα, εκτιμώντας ότι οι πιθανοί κίνδυνοι είναι περισσότεροι από τις αναμενόμενες οφειλές. Η απόφαση αυτή εκτιμάτε ότι θα καθυστερήσει τις εμβολιαστικές προσπάθειες κατά περίπου τέσσερις εβδομάδες και ως αποτέλεσμα να επηρεάσει την εθνική οικονομική δραστηριότητα. Ωστόσο, οι αρχές δεν απέκλεισαν την επανεξέταση της στάσης τους, εφόσον υπάρξουν νέα επιστημονικά δεδομένα. Παρομοίως στον Καναδά, η εθνική επιστημονική επιτροπή συνέστησε τη χρήση του συγκεκριμένου εμβολίου μόνο σε άτομα άνω των 30 ετών, ενώ η Γαλλία έχει περιορίσει τη χρήση του σε πολίτες άνω των 55 ετών. Οι διαφοροποιημένες εθνικές προσεγγίσεις αναδεικνύουν την αβεβαιότητα που περιβάλλει την αξιοποίηση του συγκεκριμένου εμβολίου και ενδέχεται να επηρεάσουν τους ρυθμούς επίτευξης ανοσίας, με άμεσες συνέπειες για την οικονομική ανάκαμψη της εκάστοτε χώρας. Παράλληλα, οι εξελίξεις αυτές δημιουργούν νέες παραμέτρους στον σχεδιασμό της υγειονομικής πολιτικής και της διαχείρισης των αποθεμάτων εμβολίων σε παγκόσμιο επίπεδο.
Question:
What are the company's capital expenditures and their strategic significance from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | What are the company's capital expenditures and their strategic significance from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: None
Financial Statement Evidence: None |
UVV_20200528 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 |
|:------------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|
| | | | | | | | |
| | | | | | | | |
| | March 31, | | | | | | |
| (in thousands of dollars) | 2020 | | 2019 | | | | |
| ASSETS | | | | | | | |
| Current assets | | | | | | | |
| Cash and cash equivalents | $ | 107,430 | | | $ | 297,556 | |
| Accounts receivable, net | 340,711 | | | 368,110 | | | |
| Advances to suppliers, net | 133,778 | | | 106,850 | | | |
| Accounts receivable—unconsolidated affiliates | 11,483 | | | 30,951 | | | |
| Inventories—at lower of cost or net realizable value: | | | | | | | |
| Tobacco | 707,298 | | | 629,606 | | | |
| Other | 99,275 | | | 69,611 | | | |
| Prepaid income taxes | 12,144 | | | 14,264 | | | |
| Other current assets | 67,498 | | | 71,197 | | | |
| Total current assets | 1,479,617 | | | 1,588,145 | | | |
| | | | | | | | |
| Property, plant and equipment | | | | | | | |
| Land | 21,376 | | | 22,952 | | | |
| Buildings | 256,488 | | | 261,976 | | | |
| Machinery and equipment | 634,395 | | | 608,191 | | | |
| | 912,259 | | | 893,119 | | | |
| Less accumulated depreciation | (597,106 | ) | | (590,625 | ) | | |
| | 315,153 | | | 302,494 | | | |
| Other assets | | | | | | | |
| Operating lease right-of-use assets | 39,256 | | | — | | | |
| Goodwill and other intangibles, net | 144,687 | | | 97,994 | | | |
| Investments in unconsolidated affiliates | 77,543 | | | 80,482 | | | |
| Deferred income taxes | 20,954 | | | 13,357 | | | |
| Other noncurrent assets | 43,711 | | | 50,712 | | | |
| | 326,151 | | | 242,545 | | | |
| | | | | | | | |
| Total assets | $ | 2,120,921 | | | $ | 2,133,184 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 |
|:----------------------------------------------------------------------------------------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|
| | | | | | | | |
| | | | | | | | |
| | March 31, | | | | | | |
| (in thousands of dollars) | 2020 | | 2019 | | | | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | |
| Current liabilities | | | | | | | |
| Notes payable and overdrafts | $ | 78,033 | | | $ | 54,023 | |
| Accounts payable and accrued expenses | 140,202 | | | 145,506 | | | |
| Accounts payable—unconsolidated affiliates | 55 | | | 106 | | | |
| Customer advances and deposits | 10,242 | | | 21,675 | | | |
| Accrued compensation | 23,710 | | | 31,372 | | | |
| Income taxes payable | 5,334 | | | 1,066 | | | |
| Current portion of operating lease liabilities | 9,823 | | | — | | | |
| Current portion of long-term debt | — | | | — | | | |
| Total current liabilities | 267,399 | | | 253,748 | | | |
| | | | | | | | |
| Long-term debt | 368,764 | | | 368,503 | | | |
| Pensions and other postretirement benefits | 70,680 | | | 59,257 | | | |
| Long-term operating lease liabilities | 25,893 | | | — | | | |
| Other long-term liabilities | 69,427 | | | 43,214 | | | |
| Deferred income taxes | 29,474 | | | 28,584 | | | |
| Total liabilities | 831,637 | | | 753,306 | | | |
| | | | | | | | |
| Shareholders’ equity | | | | | | | |
| Universal Corporation: | | | | | | | |
| Preferred stock: | | | | | | | |
| Series A Junior Participating Preferred Stock, no par value, 500,000 shares authorized,none issued or outstanding | — | | | — | | | |
| Common stock, no par value, 100,000,000 shares authorized, 24,421,835 shares issuedand outstanding (24,989,946 at March 31, 2019) | 321,502 | | | 326,600 | | | |
| Retained earnings | 1,076,760 | | | 1,106,178 | | | |
| Accumulated other comprehensive loss | (151,597 | ) | | (95,691 | ) | | |
| Total Universal Corporation shareholders' equity | 1,246,665 | | | 1,337,087 | | | |
| Noncontrolling interests in subsidiaries | 42,619 | | | 42,791 | | | |
| Total shareholders' equity | 1,289,284 | | | 1,379,878 | | | |
| | | | | | | | |
| Total liabilities and shareholders' equity | $ | 2,120,921 | | | $ | 2,133,184 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:----------------------------------------------------------------------------------|:----------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | Fiscal Year Ended March 31, | | | | | | | | | | |
| (in thousands of dollars) | 2020 | | 2019 | | 2018 | | | | | | |
| Cash Flows From Operating Activities: | | | | | | | | | | | |
| Net income | $ | 78,003 | | | $ | 110,134 | | | $ | 116,168 | |
| Adjustments to reconcile net income to net cash provided by operating activities: | | | | | | | | | | | |
| Depreciation and amortization | 38,379 | | | 37,104 | | | 34,836 | | | | |
| Provision for losses (recoveries) on advances and guaranteed loans to suppliers | 937 | | | (2,339 | ) | | 3,730 | | | | |
| Inventory write-downs | 10,319 | | | 4,002 | | | 7,687 | | | | |
| Stock-based compensation expense | 5,631 | | | 8,152 | | | 7,610 | | | | |
| Foreign currency remeasurement loss (gain), net | 16,422 | | | 1,786 | | | (184 | ) | | | |
| Deferred income taxes | (8,697 | ) | | 3,873 | | | (11,132 | ) | | | |
| Equity in net income of unconsolidated affiliates, net of dividends | 1,101 | | | 3,659 | | | (1,521 | ) | | | |
| Restructuring and impairment costs | 7,543 | | | 20,304 | | | — | | | | |
| Restructuring payments | (2,787 | ) | | (4,014 | ) | | (315 | ) | | | |
| Other, net | (8,772 | ) | | 5,613 | | | (7,866 | ) | | | |
| Changes in operating assets and liabilities, net: | | | | | | | | | | | |
| Accounts and notes receivable | 16,267 | | | (8,373 | ) | | 38,264 | | | | |
| Inventories and other assets | (94,538 | ) | | 33,796 | | | (116,728 | ) | | | |
| Income taxes | 10,927 | | | (8,981 | ) | | 1,239 | | | | |
| Accounts payable and other accrued liabilities | (48,534 | ) | | (54,912 | ) | | 13,397 | | | | |
| Customer advances and deposits | (11,304 | ) | | 14,718 | | | (3,940 | ) | | | |
| Net cash provided by operating activities | 10,897 | | | 164,522 | | | 81,245 | | | | |
| | | | | | | | | | | | |
| Cash Flows From Investing Activities: | | | | | | | | | | | |
| Purchase of property, plant and equipment | (35,227 | ) | | (38,760 | ) | | (34,037 | ) | | | |
| Purchase of business, net of cash held by the business | (80,180 | ) | | — | | | — | | | | |
| Proceeds from sale of property, plant and equipment | 8,547 | | | 2,061 | | | 5,194 | | | | |
| Other | 495 | | | 2,000 | | | 1,450 | | | | |
| Net cash used by investing activities | (106,365 | ) | | (34,699 | ) | | (27,393 | ) | | | |
| | | | | | | | | | | | |
| Cash Flows From Financing Activities: | | | | | | | | | | | |
| Issuance (repayment) of short-term debt, net | 24,114 | | | 12,036 | | | (18,159 | ) | | | |
| Issuance of long-term debt | — | | | 41,147 | | | — | | | | |
| Repayment of long-term debt | — | | | (41,147 | ) | | — | | | | |
| Dividends paid to noncontrolling interests in subsidiaries | (6,251 | ) | | (5,938 | ) | | (7,350 | ) | | | |
| Repurchase of common stock | (33,457 | ) | | (1,443 | ) | | (21,610 | ) | | | |
| Dividends paid on common stock | (75,368 | ) | | (69,883 | ) | | (54,699 | ) | | | |
| Proceeds from termination of interest rate swap agreements | — | | | 5,428 | | | — | | | | |
| Debt issuance costs and other | (3,184 | ) | | (5,987 | ) | | (2,828 | ) | | | |
| Net cash used by financing activities | (94,146 | ) | | (65,787 | ) | | (104,646 | ) | | | |
| | | | | | | | | | | | |
| Effect of exchange rate changes on cash | (512 | ) | | (608 | ) | | 929 | | | | |
| Net increase (decrease) in cash and cash equivalents | (190,126 | ) | | 63,428 | | | (49,865 | ) | | | |
| Cash and cash equivalents at beginning of year | 297,556 | | | 234,128 | | | 283,993 | | | | |
| Cash and Cash Equivalents at End of Year | $ | 107,430 | | | $ | 297,556 | | | $ | 234,128 | |
| | | | | | | | | | | | |
| Supplemental information—cash paid for: | | | | | | | | | | | |
| Interest | $ | 19,376 | | | $ | 16,462 | | | $ | 15,621 | |
| Income taxes, net of refunds | $ | 30,984 | | | $ | 44,856 | | | $ | 58,339 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:---------------------------------------------------------------------------|:----------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | Fiscal Year Ended March 31, | | | | | | | | | | |
| (in thousands of dollars, except share and per share data) | 2020 | | 2019 | | 2018 | | | | | | |
| Sales and other operating revenues | $ | 1,909,979 | | | $ | 2,227,153 | | | $ | 2,033,947 | |
| | | | | | | | | | | | |
| Costs and expenses | | | | | | | | | | | |
| Cost of goods sold | 1,553,167 | | | 1,820,562 | | | 1,661,999 | | | | |
| Selling, general and administrative expenses | 222,902 | | | 225,118 | | | 201,123 | | | | |
| Restructuring and impairment costs | 7,543 | | | 20,304 | | | — | | | | |
| | | | | | | | | | | | |
| Operating income | 126,367 | | | 161,169 | | | 170,825 | | | | |
| Equity in pretax earnings of unconsolidated affiliates | 4,211 | | | 5,299 | | | 9,125 | | | | |
| Other non-operating income (expense) | 986 | | | 832 | | | 662 | | | | |
| Interest income | 1,581 | | | 1,532 | | | 1,686 | | | | |
| Interest expense | 19,854 | | | 17,510 | | | 15,621 | | | | |
| | | | | | | | | | | | |
| Income before income taxes | 113,291 | | | 151,322 | | | 166,677 | | | | |
| Income taxes | 35,288 | | | 41,188 | | | 50,509 | | | | |
| | | | | | | | | | | | |
| Net income | 78,003 | | | 110,134 | | | 116,168 | | | | |
| Less: net income attributable to noncontrolling interests in subsidiaries | (6,323 | ) | | (6,013 | ) | | (10,506 | ) | | | |
| Net income attributable to Universal Corporation | $ | 71,680 | | | $ | 104,121 | | | $ | 105,662 | |
| | | | | | | | | | | | |
| Earnings per share: | | | | | | | | | | | |
| Basic | $ | 2.87 | | | $ | 4.14 | | | $ | 4.18 | |
| Diluted | $ | 2.86 | | | $ | 4.11 | | | $ | 4.14 | |
| | | | | | | | | | | | |
| Weighted average common shares outstanding: | | | | | | | | | | | |
| Basic | 24,982,259 | | | 25,129,192 | | | 25,274,975 | | | | |
| Diluted | 25,106,351 | | | 25,330,437 | | | 25,508,144 | | | | |
---
English News:
Universal Packaging Shifts Focus to COVID 19 Solutions by Providing FDA Approved Face Masks Leading Provider to National Pharmaceutical and Long Term Care Industries Has 3 Ply Surgical and KN95 Masks In Stock Ready to Ship Same Day. HUNT VALLEY Md June 4 2020 PRNewswire Universal Packaging a leading provider of personal protective equipment PPE has long delivered solutions to companies requiring this important equipment. The company has ramped up its inventory to meet the needs of medical workers first responders and workers in essential businesses to help reduce the spread of COVID 19. Their 50000 sq ft warehouse is stocked and ready to deliver with same day shipping available.Continue Reading Universal Packaging Universal Packaging has already delivered masks to hundreds of companies including first responders manufacturers medical and long term care facilities and is receiving new orders daily from across the US.We rushed production to meet the countrys growing need so we can help keep everyone safe while we face this horrible pandemic said Ryan Rush President Universal Packaging.Serving the community is important to Universal Packaging. The company has donated thousands of masks to local police to ensure our first responders are protected during this difficult time said Rush.Universal Packagings masks include an FDA approved 3 Ply Surgical Mask with flexible earloop bands that stretch to fit all sizes. The KN95 masks offer five layers of protection and a comfortable fit. The masks are available online for direct purchase at www.direct.univpack.com. For order inquiries over 50000 masks contact Ryan Rush directly at 410 905 3059 About Universal Packaging Universal Packaging is a leading packaging and protective solutions provider. Years of research and development have been dedicated to creating the best possible products for some of the most difficult applications and environments. Personal protective equipment including surgical and KN95 masks special purpose pharmacy bags gowns and gloves have been developed to meet our customers ever evolving needs. Based in Hunt Valley Maryland we service the entire United States with distribution across the nation. For more information visit www.UnivPack.com.Media Contact Fred Almond Marketing and Communications Universal Packaging 410 825 8300 emailprotected
Chinese News:
跨国公司来自美国烟草网的消息，最近，雷诺美国烟草公司、帝国品牌公司以及利杰特烟草公司向美国德克萨斯州的一家联邦法院提起了法律诉讼。诉讼中将要挑战美国食品与药品管理局（FDA）早在2个月前，即2020年3月份，美国FDA发布最终规则，要求在卷烟包装和 卷烟广告中展示新的健康警告。这些警告应使用带有真实照片的彩色图像的文字说明，描述一些鲜为人知但严重的吸烟健康风险，包括心脏病， 糖尿病等的影响。英美烟草南非分公司（BATSA）将针对该国政府决定在全国禁酒令第3级期间延长对烟草销售的禁令而采取法律行动。该公司在 一份声明中说：“自禁令生效以来，BATSA已尽一切努力与政府进行建设性接触，包括与其他有关方面一起向各部长以及直接向总统提交详尽的呈 件。迄今为止，尚未收到政府的正式回应，BATSA也未纳入政府的任何磋商程序。”环球烟草公布财报，公告显示公司2020财年年报归属于母公司 普通股股东净利润为7168.00万美元，同比下降31.16%；营业收入为19.10亿美元，同比下跌14.24%。Universal Corporation是一家领先的烟叶烟草供应商。它在5大洲超过30个国家都有业务。自其1918年建立后烟草业就成了其主要业务。它业务的最大部分就是为消费性烟草产品生产商收集处理烤烟和白肋烟叶。市场动态5月31日是第33个世界无烟日。为保护青少年免受烟草和尼古丁伤害，5月27日，国际防痨和肺部疾病联合会（以 下简称“联合会”）公开发表声明，倡导在中低收入国家禁止销售电子烟和加热型烟草制品。国际防痨和肺部疾病联合会是一家全球性卫生组织， 致力于消灭结核病、关注肺部健康，对烟草业持抵制态度。因新冠疫情疫情，原计划将在波兰华沙举行的线下全球尼古丁论坛（GFN）将延期至2020年6月11日至12日线上举行。该会议免费向所有对尼古丁科学和政策感兴趣的人开放。会议期间，专家们将讨论尼古丁科学的进展，探讨有利于减少烟草危害的道德论据，并探讨所有主张健康权的人的人权问题。据纽约时报报道，Puff Bar电子烟公司的产品在美国目前已经迅速超越了Juul，并在广告中宣传自己的产品，以摆脱家长教条和压力。美国众议院议员本周要求美国食品药品监督管理局（FDA）禁止快速增长的电子烟Puff Bar，该电子烟已迅速取代Juul，成为年轻人的首选电子烟。但FDA拒绝讨论Puff Bar。2019年世界控烟履约进展报告发布。世界各国结合《公约 》要求，在减少烟草需求的措施、减少烟草供给的措施、减少烟草危害的措施等方面取得了积极的控烟履约进展，如加强烟草制品成分管制、提 高烟草税负、提高包装标识警示效果、严格管制烟草广告等。2019年，全球控烟履约工作整体呈现出控烟措施日渐深化、交流日益广泛、新型烟 草产品监管日趋严格等特点。烟草与法美国食品药品监督管理局（FDA）已将2021年10月16日定为可燃卷烟图形健康新警告标签的生效日期。新的警告集包含患肺的图像、一个患有勃起功能障碍的男人、一个患有心脏或肺部手术缝合针的男人以及一个戴着氧气面罩的孩子的图像。但是，正 如FDA所建议的那样，没有气管孔冒烟，没有尸体，也没有死者的照片。据来自Business Recorder的消息，近年来，随着巴基斯坦国内非法烟草 贸易量的增长，已造成了政府收入的严重损失。数据显示，巴基斯坦政府在2019年至2020年期间，因为非法烟草贸易量的增长，政府已经遭受到 了数十亿美元的巨额损失。该国烟草业总消费量的近40%是通过黑市非法贸易进行的，这也令政府财政部门的官员感到十分担忧。新型烟草据烟业通讯报道，日本烟草公司（JT）正在推出其Ploom S 2.0，这是一种专门用于薄荷醇的升级版加热烟草设备。Ploom S 2.0配备了新的加热模式， 与当前的Ploom S相比，它可以延长峰值加热温度的持续时间。JT称，这使薄荷醇的新鲜度，浓蒸汽和清澈的烟草味之间达到了平衡。今年悄悄兴起的茶烟，又叫加热不燃烧非烟烟弹，是民营企业自主研发，可用于加热不燃烧设备的产品，目前不属于烟草专卖法管控范围。据了解到的企业 信息，目前加热不燃烧非烟烟弹的量平均在3万条/月，之前主要是走日韩、欧美等国外市场，但在疫情期间，有些品牌开启了国内的风潮。有权 威业内人士认为，接下来加热不燃烧非烟烟弹会迎来一波小高潮。
Japanese News:
米国の大手農産物サプライヤーで世界的な葉タバコ供給企業であるUniversal Corporation（UVV）は2020年5月28日（現地時間）、2020年度（2019年4月～2020年3月期）の通期決算を発表した。連結売上高は約19億ドル、営業利益は1億2640万ドル、セグメント別営業利益は1億3810万ドルを計上した。 同社は1918年の創業以来、主に葉タバコ供給を中心に事業展開している。現在では世界5大陸30カ国以上で事業を展開し、タバコ葉をはじめとした農産物の調達・加工・梱包・保管・物流を総合的に手掛けている。同社は最終消費製品の製造は行わず、主に製品メーカー向けに加工済みの原材料と関連サービスを提供するビジネスモデルを採用している。 主要事業である葉タバコ供給については、主に北米およびその他地域の二つの事業セグメントで構成されており、安定した業績を維持した。また、「その他タバコ関連事業」として、ダークタバコやオリエンタルタバコの合弁事業のほか、青果物の加工事業、各種農業関連サービスも展開している。 同社はグローバルな調達体制と柔軟な供給網を強化し、世界市場での競争力をさらに高める戦略をとっている。経営陣は今後の展望について、「当社の強みである世界規模の調達・加工・物流ネットワークを活かし、各地域での需要変動にも迅速に対応できるよう引き続き努力していく」とコメントした。
Spanish News:
Universal Corporation ha proporcionado una guía de producción para el año fiscal 2021. Para ese año, la empresa espera que la producción mundial de tabaco curado al fuego y de burley disminuya en torno al 7% y al 10%, respectivamente, lo que, en su opinión, mantendrá el tabaco curado al fuego en una posición de ligero exceso de oferta y el burley se mantendrá en una posición de oferta equilibrada.
Greek News:
Το οικονομικό έτος που έληξε στις 31 Μαρτίου του 2020, η Universal Corporation (UVV) αντιμετώπισε καινούριες προκλήσεις, κυρίως λόγω της παγκόσμιας πανδημίας COVID-19. Οι μακροοικονομικές πιέσεις ήταν σοβαρές, αφού η ξαφνική υποτίμηση νομισμάτων όπως η ινδονησιακή ρούπια, το βραζιλιάνικο Ρεάλ και το μεξικάνικο πέσο οδήγησε σε ζημιές λόγω επανεκτίμησης ύψους $ 13 εκατομμυρίων. Επιπλέον καταγράφηκαν καθυστερήσεις στις αποστολές, μειώσεις στις παραγγελίες και αύξηση των μη δεσμευμένων αποθεμάτων, ιδιαίτερα σε αγορές κλειδιά όπως η Βόρεια Αμερική και η Αφρική. Η εταιρία διατήρησε σχετικά σταθερά μικτά περιθώρια κέρδους, συγκεκριμένα, για το έτος 2020, το συνολικό μικτό κέρδος έπεσε στα $ 356,8 χιλιάδες δολλάρια σε σύγκριση $ 406,6 χιλιάδων το προηγούμενο έτος, παρουσιάζοντας αξιοσημείωτη πτώση κατά 12,25%. Οι εκτιμήσεις για το 2021, είναι πως η παγκόσμια μείωση παραγωγής για καπνά flue-cured και burley κατά 7% και 10% αντίστοιχα, αναμένεται να επηρεάσει την ισορροπία προσφοράς και ζήτησης. Η εταιρία έχει λάβει προληπτικά μέτρα, περιορίζοντας τις κεφαλαιουχικές δαπάνες και ενισχύοντας την προστασία των εργαζομένων της, ενώ ταυτόχρονα συνεχίζει να αντιμετωπίζει προκλήσεις λόγω της αστάθειας της εφοδιαστικής αλυσίδας και των συναλλαγματικών ισοτιμιών.
Question:
Please list the top three focuses on revenue from news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | Please list the top three focuses on revenue from news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: The top three focuses from news are: 1) COVID-19 pandemic impact causing macroeconomic pressures and delivery delays, 2) Exchange rate fluctuations affecting multiple key markets, 3) Global production decrease predictions for flue-cured and burley tobacco.
Financial Statement Evidence: "Sales and other operating revenues $1,909,979" (2020), "Foreign currency remeasurement loss (gain), net 16,422" (2020), "Inventories—Tobacco 707,298" (2020) |
UVV_20200528 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 |
|:------------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|
| | | | | | | | |
| | | | | | | | |
| | March 31, | | | | | | |
| (in thousands of dollars) | 2020 | | 2019 | | | | |
| ASSETS | | | | | | | |
| Current assets | | | | | | | |
| Cash and cash equivalents | $ | 107,430 | | | $ | 297,556 | |
| Accounts receivable, net | 340,711 | | | 368,110 | | | |
| Advances to suppliers, net | 133,778 | | | 106,850 | | | |
| Accounts receivable—unconsolidated affiliates | 11,483 | | | 30,951 | | | |
| Inventories—at lower of cost or net realizable value: | | | | | | | |
| Tobacco | 707,298 | | | 629,606 | | | |
| Other | 99,275 | | | 69,611 | | | |
| Prepaid income taxes | 12,144 | | | 14,264 | | | |
| Other current assets | 67,498 | | | 71,197 | | | |
| Total current assets | 1,479,617 | | | 1,588,145 | | | |
| | | | | | | | |
| Property, plant and equipment | | | | | | | |
| Land | 21,376 | | | 22,952 | | | |
| Buildings | 256,488 | | | 261,976 | | | |
| Machinery and equipment | 634,395 | | | 608,191 | | | |
| | 912,259 | | | 893,119 | | | |
| Less accumulated depreciation | (597,106 | ) | | (590,625 | ) | | |
| | 315,153 | | | 302,494 | | | |
| Other assets | | | | | | | |
| Operating lease right-of-use assets | 39,256 | | | — | | | |
| Goodwill and other intangibles, net | 144,687 | | | 97,994 | | | |
| Investments in unconsolidated affiliates | 77,543 | | | 80,482 | | | |
| Deferred income taxes | 20,954 | | | 13,357 | | | |
| Other noncurrent assets | 43,711 | | | 50,712 | | | |
| | 326,151 | | | 242,545 | | | |
| | | | | | | | |
| Total assets | $ | 2,120,921 | | | $ | 2,133,184 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 |
|:----------------------------------------------------------------------------------------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|
| | | | | | | | |
| | | | | | | | |
| | March 31, | | | | | | |
| (in thousands of dollars) | 2020 | | 2019 | | | | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | |
| Current liabilities | | | | | | | |
| Notes payable and overdrafts | $ | 78,033 | | | $ | 54,023 | |
| Accounts payable and accrued expenses | 140,202 | | | 145,506 | | | |
| Accounts payable—unconsolidated affiliates | 55 | | | 106 | | | |
| Customer advances and deposits | 10,242 | | | 21,675 | | | |
| Accrued compensation | 23,710 | | | 31,372 | | | |
| Income taxes payable | 5,334 | | | 1,066 | | | |
| Current portion of operating lease liabilities | 9,823 | | | — | | | |
| Current portion of long-term debt | — | | | — | | | |
| Total current liabilities | 267,399 | | | 253,748 | | | |
| | | | | | | | |
| Long-term debt | 368,764 | | | 368,503 | | | |
| Pensions and other postretirement benefits | 70,680 | | | 59,257 | | | |
| Long-term operating lease liabilities | 25,893 | | | — | | | |
| Other long-term liabilities | 69,427 | | | 43,214 | | | |
| Deferred income taxes | 29,474 | | | 28,584 | | | |
| Total liabilities | 831,637 | | | 753,306 | | | |
| | | | | | | | |
| Shareholders’ equity | | | | | | | |
| Universal Corporation: | | | | | | | |
| Preferred stock: | | | | | | | |
| Series A Junior Participating Preferred Stock, no par value, 500,000 shares authorized,none issued or outstanding | — | | | — | | | |
| Common stock, no par value, 100,000,000 shares authorized, 24,421,835 shares issuedand outstanding (24,989,946 at March 31, 2019) | 321,502 | | | 326,600 | | | |
| Retained earnings | 1,076,760 | | | 1,106,178 | | | |
| Accumulated other comprehensive loss | (151,597 | ) | | (95,691 | ) | | |
| Total Universal Corporation shareholders' equity | 1,246,665 | | | 1,337,087 | | | |
| Noncontrolling interests in subsidiaries | 42,619 | | | 42,791 | | | |
| Total shareholders' equity | 1,289,284 | | | 1,379,878 | | | |
| | | | | | | | |
| Total liabilities and shareholders' equity | $ | 2,120,921 | | | $ | 2,133,184 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:----------------------------------------------------------------------------------|:----------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | Fiscal Year Ended March 31, | | | | | | | | | | |
| (in thousands of dollars) | 2020 | | 2019 | | 2018 | | | | | | |
| Cash Flows From Operating Activities: | | | | | | | | | | | |
| Net income | $ | 78,003 | | | $ | 110,134 | | | $ | 116,168 | |
| Adjustments to reconcile net income to net cash provided by operating activities: | | | | | | | | | | | |
| Depreciation and amortization | 38,379 | | | 37,104 | | | 34,836 | | | | |
| Provision for losses (recoveries) on advances and guaranteed loans to suppliers | 937 | | | (2,339 | ) | | 3,730 | | | | |
| Inventory write-downs | 10,319 | | | 4,002 | | | 7,687 | | | | |
| Stock-based compensation expense | 5,631 | | | 8,152 | | | 7,610 | | | | |
| Foreign currency remeasurement loss (gain), net | 16,422 | | | 1,786 | | | (184 | ) | | | |
| Deferred income taxes | (8,697 | ) | | 3,873 | | | (11,132 | ) | | | |
| Equity in net income of unconsolidated affiliates, net of dividends | 1,101 | | | 3,659 | | | (1,521 | ) | | | |
| Restructuring and impairment costs | 7,543 | | | 20,304 | | | — | | | | |
| Restructuring payments | (2,787 | ) | | (4,014 | ) | | (315 | ) | | | |
| Other, net | (8,772 | ) | | 5,613 | | | (7,866 | ) | | | |
| Changes in operating assets and liabilities, net: | | | | | | | | | | | |
| Accounts and notes receivable | 16,267 | | | (8,373 | ) | | 38,264 | | | | |
| Inventories and other assets | (94,538 | ) | | 33,796 | | | (116,728 | ) | | | |
| Income taxes | 10,927 | | | (8,981 | ) | | 1,239 | | | | |
| Accounts payable and other accrued liabilities | (48,534 | ) | | (54,912 | ) | | 13,397 | | | | |
| Customer advances and deposits | (11,304 | ) | | 14,718 | | | (3,940 | ) | | | |
| Net cash provided by operating activities | 10,897 | | | 164,522 | | | 81,245 | | | | |
| | | | | | | | | | | | |
| Cash Flows From Investing Activities: | | | | | | | | | | | |
| Purchase of property, plant and equipment | (35,227 | ) | | (38,760 | ) | | (34,037 | ) | | | |
| Purchase of business, net of cash held by the business | (80,180 | ) | | — | | | — | | | | |
| Proceeds from sale of property, plant and equipment | 8,547 | | | 2,061 | | | 5,194 | | | | |
| Other | 495 | | | 2,000 | | | 1,450 | | | | |
| Net cash used by investing activities | (106,365 | ) | | (34,699 | ) | | (27,393 | ) | | | |
| | | | | | | | | | | | |
| Cash Flows From Financing Activities: | | | | | | | | | | | |
| Issuance (repayment) of short-term debt, net | 24,114 | | | 12,036 | | | (18,159 | ) | | | |
| Issuance of long-term debt | — | | | 41,147 | | | — | | | | |
| Repayment of long-term debt | — | | | (41,147 | ) | | — | | | | |
| Dividends paid to noncontrolling interests in subsidiaries | (6,251 | ) | | (5,938 | ) | | (7,350 | ) | | | |
| Repurchase of common stock | (33,457 | ) | | (1,443 | ) | | (21,610 | ) | | | |
| Dividends paid on common stock | (75,368 | ) | | (69,883 | ) | | (54,699 | ) | | | |
| Proceeds from termination of interest rate swap agreements | — | | | 5,428 | | | — | | | | |
| Debt issuance costs and other | (3,184 | ) | | (5,987 | ) | | (2,828 | ) | | | |
| Net cash used by financing activities | (94,146 | ) | | (65,787 | ) | | (104,646 | ) | | | |
| | | | | | | | | | | | |
| Effect of exchange rate changes on cash | (512 | ) | | (608 | ) | | 929 | | | | |
| Net increase (decrease) in cash and cash equivalents | (190,126 | ) | | 63,428 | | | (49,865 | ) | | | |
| Cash and cash equivalents at beginning of year | 297,556 | | | 234,128 | | | 283,993 | | | | |
| Cash and Cash Equivalents at End of Year | $ | 107,430 | | | $ | 297,556 | | | $ | 234,128 | |
| | | | | | | | | | | | |
| Supplemental information—cash paid for: | | | | | | | | | | | |
| Interest | $ | 19,376 | | | $ | 16,462 | | | $ | 15,621 | |
| Income taxes, net of refunds | $ | 30,984 | | | $ | 44,856 | | | $ | 58,339 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:---------------------------------------------------------------------------|:----------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | Fiscal Year Ended March 31, | | | | | | | | | | |
| (in thousands of dollars, except share and per share data) | 2020 | | 2019 | | 2018 | | | | | | |
| Sales and other operating revenues | $ | 1,909,979 | | | $ | 2,227,153 | | | $ | 2,033,947 | |
| | | | | | | | | | | | |
| Costs and expenses | | | | | | | | | | | |
| Cost of goods sold | 1,553,167 | | | 1,820,562 | | | 1,661,999 | | | | |
| Selling, general and administrative expenses | 222,902 | | | 225,118 | | | 201,123 | | | | |
| Restructuring and impairment costs | 7,543 | | | 20,304 | | | — | | | | |
| | | | | | | | | | | | |
| Operating income | 126,367 | | | 161,169 | | | 170,825 | | | | |
| Equity in pretax earnings of unconsolidated affiliates | 4,211 | | | 5,299 | | | 9,125 | | | | |
| Other non-operating income (expense) | 986 | | | 832 | | | 662 | | | | |
| Interest income | 1,581 | | | 1,532 | | | 1,686 | | | | |
| Interest expense | 19,854 | | | 17,510 | | | 15,621 | | | | |
| | | | | | | | | | | | |
| Income before income taxes | 113,291 | | | 151,322 | | | 166,677 | | | | |
| Income taxes | 35,288 | | | 41,188 | | | 50,509 | | | | |
| | | | | | | | | | | | |
| Net income | 78,003 | | | 110,134 | | | 116,168 | | | | |
| Less: net income attributable to noncontrolling interests in subsidiaries | (6,323 | ) | | (6,013 | ) | | (10,506 | ) | | | |
| Net income attributable to Universal Corporation | $ | 71,680 | | | $ | 104,121 | | | $ | 105,662 | |
| | | | | | | | | | | | |
| Earnings per share: | | | | | | | | | | | |
| Basic | $ | 2.87 | | | $ | 4.14 | | | $ | 4.18 | |
| Diluted | $ | 2.86 | | | $ | 4.11 | | | $ | 4.14 | |
| | | | | | | | | | | | |
| Weighted average common shares outstanding: | | | | | | | | | | | |
| Basic | 24,982,259 | | | 25,129,192 | | | 25,274,975 | | | | |
| Diluted | 25,106,351 | | | 25,330,437 | | | 25,508,144 | | | | |
---
English News:
Universal Packaging Shifts Focus to COVID 19 Solutions by Providing FDA Approved Face Masks Leading Provider to National Pharmaceutical and Long Term Care Industries Has 3 Ply Surgical and KN95 Masks In Stock Ready to Ship Same Day. HUNT VALLEY Md June 4 2020 PRNewswire Universal Packaging a leading provider of personal protective equipment PPE has long delivered solutions to companies requiring this important equipment. The company has ramped up its inventory to meet the needs of medical workers first responders and workers in essential businesses to help reduce the spread of COVID 19. Their 50000 sq ft warehouse is stocked and ready to deliver with same day shipping available.Continue Reading Universal Packaging Universal Packaging has already delivered masks to hundreds of companies including first responders manufacturers medical and long term care facilities and is receiving new orders daily from across the US.We rushed production to meet the countrys growing need so we can help keep everyone safe while we face this horrible pandemic said Ryan Rush President Universal Packaging.Serving the community is important to Universal Packaging. The company has donated thousands of masks to local police to ensure our first responders are protected during this difficult time said Rush.Universal Packagings masks include an FDA approved 3 Ply Surgical Mask with flexible earloop bands that stretch to fit all sizes. The KN95 masks offer five layers of protection and a comfortable fit. The masks are available online for direct purchase at www.direct.univpack.com. For order inquiries over 50000 masks contact Ryan Rush directly at 410 905 3059 About Universal Packaging Universal Packaging is a leading packaging and protective solutions provider. Years of research and development have been dedicated to creating the best possible products for some of the most difficult applications and environments. Personal protective equipment including surgical and KN95 masks special purpose pharmacy bags gowns and gloves have been developed to meet our customers ever evolving needs. Based in Hunt Valley Maryland we service the entire United States with distribution across the nation. For more information visit www.UnivPack.com.Media Contact Fred Almond Marketing and Communications Universal Packaging 410 825 8300 emailprotected
Chinese News:
跨国公司来自美国烟草网的消息，最近，雷诺美国烟草公司、帝国品牌公司以及利杰特烟草公司向美国德克萨斯州的一家联邦法院提起了法律诉讼。诉讼中将要挑战美国食品与药品管理局（FDA）早在2个月前，即2020年3月份，美国FDA发布最终规则，要求在卷烟包装和 卷烟广告中展示新的健康警告。这些警告应使用带有真实照片的彩色图像的文字说明，描述一些鲜为人知但严重的吸烟健康风险，包括心脏病， 糖尿病等的影响。英美烟草南非分公司（BATSA）将针对该国政府决定在全国禁酒令第3级期间延长对烟草销售的禁令而采取法律行动。该公司在 一份声明中说：“自禁令生效以来，BATSA已尽一切努力与政府进行建设性接触，包括与其他有关方面一起向各部长以及直接向总统提交详尽的呈 件。迄今为止，尚未收到政府的正式回应，BATSA也未纳入政府的任何磋商程序。”环球烟草公布财报，公告显示公司2020财年年报归属于母公司 普通股股东净利润为7168.00万美元，同比下降31.16%；营业收入为19.10亿美元，同比下跌14.24%。Universal Corporation是一家领先的烟叶烟草供应商。它在5大洲超过30个国家都有业务。自其1918年建立后烟草业就成了其主要业务。它业务的最大部分就是为消费性烟草产品生产商收集处理烤烟和白肋烟叶。市场动态5月31日是第33个世界无烟日。为保护青少年免受烟草和尼古丁伤害，5月27日，国际防痨和肺部疾病联合会（以 下简称“联合会”）公开发表声明，倡导在中低收入国家禁止销售电子烟和加热型烟草制品。国际防痨和肺部疾病联合会是一家全球性卫生组织， 致力于消灭结核病、关注肺部健康，对烟草业持抵制态度。因新冠疫情疫情，原计划将在波兰华沙举行的线下全球尼古丁论坛（GFN）将延期至2020年6月11日至12日线上举行。该会议免费向所有对尼古丁科学和政策感兴趣的人开放。会议期间，专家们将讨论尼古丁科学的进展，探讨有利于减少烟草危害的道德论据，并探讨所有主张健康权的人的人权问题。据纽约时报报道，Puff Bar电子烟公司的产品在美国目前已经迅速超越了Juul，并在广告中宣传自己的产品，以摆脱家长教条和压力。美国众议院议员本周要求美国食品药品监督管理局（FDA）禁止快速增长的电子烟Puff Bar，该电子烟已迅速取代Juul，成为年轻人的首选电子烟。但FDA拒绝讨论Puff Bar。2019年世界控烟履约进展报告发布。世界各国结合《公约 》要求，在减少烟草需求的措施、减少烟草供给的措施、减少烟草危害的措施等方面取得了积极的控烟履约进展，如加强烟草制品成分管制、提 高烟草税负、提高包装标识警示效果、严格管制烟草广告等。2019年，全球控烟履约工作整体呈现出控烟措施日渐深化、交流日益广泛、新型烟 草产品监管日趋严格等特点。烟草与法美国食品药品监督管理局（FDA）已将2021年10月16日定为可燃卷烟图形健康新警告标签的生效日期。新的警告集包含患肺的图像、一个患有勃起功能障碍的男人、一个患有心脏或肺部手术缝合针的男人以及一个戴着氧气面罩的孩子的图像。但是，正 如FDA所建议的那样，没有气管孔冒烟，没有尸体，也没有死者的照片。据来自Business Recorder的消息，近年来，随着巴基斯坦国内非法烟草 贸易量的增长，已造成了政府收入的严重损失。数据显示，巴基斯坦政府在2019年至2020年期间，因为非法烟草贸易量的增长，政府已经遭受到 了数十亿美元的巨额损失。该国烟草业总消费量的近40%是通过黑市非法贸易进行的，这也令政府财政部门的官员感到十分担忧。新型烟草据烟业通讯报道，日本烟草公司（JT）正在推出其Ploom S 2.0，这是一种专门用于薄荷醇的升级版加热烟草设备。Ploom S 2.0配备了新的加热模式， 与当前的Ploom S相比，它可以延长峰值加热温度的持续时间。JT称，这使薄荷醇的新鲜度，浓蒸汽和清澈的烟草味之间达到了平衡。今年悄悄兴起的茶烟，又叫加热不燃烧非烟烟弹，是民营企业自主研发，可用于加热不燃烧设备的产品，目前不属于烟草专卖法管控范围。据了解到的企业 信息，目前加热不燃烧非烟烟弹的量平均在3万条/月，之前主要是走日韩、欧美等国外市场，但在疫情期间，有些品牌开启了国内的风潮。有权 威业内人士认为，接下来加热不燃烧非烟烟弹会迎来一波小高潮。
Japanese News:
米国の大手農産物サプライヤーで世界的な葉タバコ供給企業であるUniversal Corporation（UVV）は2020年5月28日（現地時間）、2020年度（2019年4月～2020年3月期）の通期決算を発表した。連結売上高は約19億ドル、営業利益は1億2640万ドル、セグメント別営業利益は1億3810万ドルを計上した。 同社は1918年の創業以来、主に葉タバコ供給を中心に事業展開している。現在では世界5大陸30カ国以上で事業を展開し、タバコ葉をはじめとした農産物の調達・加工・梱包・保管・物流を総合的に手掛けている。同社は最終消費製品の製造は行わず、主に製品メーカー向けに加工済みの原材料と関連サービスを提供するビジネスモデルを採用している。 主要事業である葉タバコ供給については、主に北米およびその他地域の二つの事業セグメントで構成されており、安定した業績を維持した。また、「その他タバコ関連事業」として、ダークタバコやオリエンタルタバコの合弁事業のほか、青果物の加工事業、各種農業関連サービスも展開している。 同社はグローバルな調達体制と柔軟な供給網を強化し、世界市場での競争力をさらに高める戦略をとっている。経営陣は今後の展望について、「当社の強みである世界規模の調達・加工・物流ネットワークを活かし、各地域での需要変動にも迅速に対応できるよう引き続き努力していく」とコメントした。
Spanish News:
Universal Corporation ha proporcionado una guía de producción para el año fiscal 2021. Para ese año, la empresa espera que la producción mundial de tabaco curado al fuego y de burley disminuya en torno al 7% y al 10%, respectivamente, lo que, en su opinión, mantendrá el tabaco curado al fuego en una posición de ligero exceso de oferta y el burley se mantendrá en una posición de oferta equilibrada.
Greek News:
Το οικονομικό έτος που έληξε στις 31 Μαρτίου του 2020, η Universal Corporation (UVV) αντιμετώπισε καινούριες προκλήσεις, κυρίως λόγω της παγκόσμιας πανδημίας COVID-19. Οι μακροοικονομικές πιέσεις ήταν σοβαρές, αφού η ξαφνική υποτίμηση νομισμάτων όπως η ινδονησιακή ρούπια, το βραζιλιάνικο Ρεάλ και το μεξικάνικο πέσο οδήγησε σε ζημιές λόγω επανεκτίμησης ύψους $ 13 εκατομμυρίων. Επιπλέον καταγράφηκαν καθυστερήσεις στις αποστολές, μειώσεις στις παραγγελίες και αύξηση των μη δεσμευμένων αποθεμάτων, ιδιαίτερα σε αγορές κλειδιά όπως η Βόρεια Αμερική και η Αφρική. Η εταιρία διατήρησε σχετικά σταθερά μικτά περιθώρια κέρδους, συγκεκριμένα, για το έτος 2020, το συνολικό μικτό κέρδος έπεσε στα $ 356,8 χιλιάδες δολλάρια σε σύγκριση $ 406,6 χιλιάδων το προηγούμενο έτος, παρουσιάζοντας αξιοσημείωτη πτώση κατά 12,25%. Οι εκτιμήσεις για το 2021, είναι πως η παγκόσμια μείωση παραγωγής για καπνά flue-cured και burley κατά 7% και 10% αντίστοιχα, αναμένεται να επηρεάσει την ισορροπία προσφοράς και ζήτησης. Η εταιρία έχει λάβει προληπτικά μέτρα, περιορίζοντας τις κεφαλαιουχικές δαπάνες και ενισχύοντας την προστασία των εργαζομένων της, ενώ ταυτόχρονα συνεχίζει να αντιμετωπίζει προκλήσεις λόγω της αστάθειας της εφοδιαστικής αλυσίδας και των συναλλαγματικών ισοτιμιών.
Question:
How is the company allocating capital (e.g., investments, share repurchases, dividends) based on its performance and market outlook from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | How is the company allocating capital (e.g., investments, share repurchases, dividends) based on its performance and market outlook from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: The company is reducing capital expenditures and continuing dividend payments while repurchasing shares. The news indicates preventive measures with reduced capital spending.
Financial Statement Evidence: "Purchase of property, plant and equipment (35,227)" (2020), "Dividends paid on common stock (75,368)" (2020), "Repurchase of common stock (33,457)" (2020) |
UVV_20200528 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 |
|:------------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|
| | | | | | | | |
| | | | | | | | |
| | March 31, | | | | | | |
| (in thousands of dollars) | 2020 | | 2019 | | | | |
| ASSETS | | | | | | | |
| Current assets | | | | | | | |
| Cash and cash equivalents | $ | 107,430 | | | $ | 297,556 | |
| Accounts receivable, net | 340,711 | | | 368,110 | | | |
| Advances to suppliers, net | 133,778 | | | 106,850 | | | |
| Accounts receivable—unconsolidated affiliates | 11,483 | | | 30,951 | | | |
| Inventories—at lower of cost or net realizable value: | | | | | | | |
| Tobacco | 707,298 | | | 629,606 | | | |
| Other | 99,275 | | | 69,611 | | | |
| Prepaid income taxes | 12,144 | | | 14,264 | | | |
| Other current assets | 67,498 | | | 71,197 | | | |
| Total current assets | 1,479,617 | | | 1,588,145 | | | |
| | | | | | | | |
| Property, plant and equipment | | | | | | | |
| Land | 21,376 | | | 22,952 | | | |
| Buildings | 256,488 | | | 261,976 | | | |
| Machinery and equipment | 634,395 | | | 608,191 | | | |
| | 912,259 | | | 893,119 | | | |
| Less accumulated depreciation | (597,106 | ) | | (590,625 | ) | | |
| | 315,153 | | | 302,494 | | | |
| Other assets | | | | | | | |
| Operating lease right-of-use assets | 39,256 | | | — | | | |
| Goodwill and other intangibles, net | 144,687 | | | 97,994 | | | |
| Investments in unconsolidated affiliates | 77,543 | | | 80,482 | | | |
| Deferred income taxes | 20,954 | | | 13,357 | | | |
| Other noncurrent assets | 43,711 | | | 50,712 | | | |
| | 326,151 | | | 242,545 | | | |
| | | | | | | | |
| Total assets | $ | 2,120,921 | | | $ | 2,133,184 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 |
|:----------------------------------------------------------------------------------------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|
| | | | | | | | |
| | | | | | | | |
| | March 31, | | | | | | |
| (in thousands of dollars) | 2020 | | 2019 | | | | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | |
| Current liabilities | | | | | | | |
| Notes payable and overdrafts | $ | 78,033 | | | $ | 54,023 | |
| Accounts payable and accrued expenses | 140,202 | | | 145,506 | | | |
| Accounts payable—unconsolidated affiliates | 55 | | | 106 | | | |
| Customer advances and deposits | 10,242 | | | 21,675 | | | |
| Accrued compensation | 23,710 | | | 31,372 | | | |
| Income taxes payable | 5,334 | | | 1,066 | | | |
| Current portion of operating lease liabilities | 9,823 | | | — | | | |
| Current portion of long-term debt | — | | | — | | | |
| Total current liabilities | 267,399 | | | 253,748 | | | |
| | | | | | | | |
| Long-term debt | 368,764 | | | 368,503 | | | |
| Pensions and other postretirement benefits | 70,680 | | | 59,257 | | | |
| Long-term operating lease liabilities | 25,893 | | | — | | | |
| Other long-term liabilities | 69,427 | | | 43,214 | | | |
| Deferred income taxes | 29,474 | | | 28,584 | | | |
| Total liabilities | 831,637 | | | 753,306 | | | |
| | | | | | | | |
| Shareholders’ equity | | | | | | | |
| Universal Corporation: | | | | | | | |
| Preferred stock: | | | | | | | |
| Series A Junior Participating Preferred Stock, no par value, 500,000 shares authorized,none issued or outstanding | — | | | — | | | |
| Common stock, no par value, 100,000,000 shares authorized, 24,421,835 shares issuedand outstanding (24,989,946 at March 31, 2019) | 321,502 | | | 326,600 | | | |
| Retained earnings | 1,076,760 | | | 1,106,178 | | | |
| Accumulated other comprehensive loss | (151,597 | ) | | (95,691 | ) | | |
| Total Universal Corporation shareholders' equity | 1,246,665 | | | 1,337,087 | | | |
| Noncontrolling interests in subsidiaries | 42,619 | | | 42,791 | | | |
| Total shareholders' equity | 1,289,284 | | | 1,379,878 | | | |
| | | | | | | | |
| Total liabilities and shareholders' equity | $ | 2,120,921 | | | $ | 2,133,184 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:----------------------------------------------------------------------------------|:----------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | Fiscal Year Ended March 31, | | | | | | | | | | |
| (in thousands of dollars) | 2020 | | 2019 | | 2018 | | | | | | |
| Cash Flows From Operating Activities: | | | | | | | | | | | |
| Net income | $ | 78,003 | | | $ | 110,134 | | | $ | 116,168 | |
| Adjustments to reconcile net income to net cash provided by operating activities: | | | | | | | | | | | |
| Depreciation and amortization | 38,379 | | | 37,104 | | | 34,836 | | | | |
| Provision for losses (recoveries) on advances and guaranteed loans to suppliers | 937 | | | (2,339 | ) | | 3,730 | | | | |
| Inventory write-downs | 10,319 | | | 4,002 | | | 7,687 | | | | |
| Stock-based compensation expense | 5,631 | | | 8,152 | | | 7,610 | | | | |
| Foreign currency remeasurement loss (gain), net | 16,422 | | | 1,786 | | | (184 | ) | | | |
| Deferred income taxes | (8,697 | ) | | 3,873 | | | (11,132 | ) | | | |
| Equity in net income of unconsolidated affiliates, net of dividends | 1,101 | | | 3,659 | | | (1,521 | ) | | | |
| Restructuring and impairment costs | 7,543 | | | 20,304 | | | — | | | | |
| Restructuring payments | (2,787 | ) | | (4,014 | ) | | (315 | ) | | | |
| Other, net | (8,772 | ) | | 5,613 | | | (7,866 | ) | | | |
| Changes in operating assets and liabilities, net: | | | | | | | | | | | |
| Accounts and notes receivable | 16,267 | | | (8,373 | ) | | 38,264 | | | | |
| Inventories and other assets | (94,538 | ) | | 33,796 | | | (116,728 | ) | | | |
| Income taxes | 10,927 | | | (8,981 | ) | | 1,239 | | | | |
| Accounts payable and other accrued liabilities | (48,534 | ) | | (54,912 | ) | | 13,397 | | | | |
| Customer advances and deposits | (11,304 | ) | | 14,718 | | | (3,940 | ) | | | |
| Net cash provided by operating activities | 10,897 | | | 164,522 | | | 81,245 | | | | |
| | | | | | | | | | | | |
| Cash Flows From Investing Activities: | | | | | | | | | | | |
| Purchase of property, plant and equipment | (35,227 | ) | | (38,760 | ) | | (34,037 | ) | | | |
| Purchase of business, net of cash held by the business | (80,180 | ) | | — | | | — | | | | |
| Proceeds from sale of property, plant and equipment | 8,547 | | | 2,061 | | | 5,194 | | | | |
| Other | 495 | | | 2,000 | | | 1,450 | | | | |
| Net cash used by investing activities | (106,365 | ) | | (34,699 | ) | | (27,393 | ) | | | |
| | | | | | | | | | | | |
| Cash Flows From Financing Activities: | | | | | | | | | | | |
| Issuance (repayment) of short-term debt, net | 24,114 | | | 12,036 | | | (18,159 | ) | | | |
| Issuance of long-term debt | — | | | 41,147 | | | — | | | | |
| Repayment of long-term debt | — | | | (41,147 | ) | | — | | | | |
| Dividends paid to noncontrolling interests in subsidiaries | (6,251 | ) | | (5,938 | ) | | (7,350 | ) | | | |
| Repurchase of common stock | (33,457 | ) | | (1,443 | ) | | (21,610 | ) | | | |
| Dividends paid on common stock | (75,368 | ) | | (69,883 | ) | | (54,699 | ) | | | |
| Proceeds from termination of interest rate swap agreements | — | | | 5,428 | | | — | | | | |
| Debt issuance costs and other | (3,184 | ) | | (5,987 | ) | | (2,828 | ) | | | |
| Net cash used by financing activities | (94,146 | ) | | (65,787 | ) | | (104,646 | ) | | | |
| | | | | | | | | | | | |
| Effect of exchange rate changes on cash | (512 | ) | | (608 | ) | | 929 | | | | |
| Net increase (decrease) in cash and cash equivalents | (190,126 | ) | | 63,428 | | | (49,865 | ) | | | |
| Cash and cash equivalents at beginning of year | 297,556 | | | 234,128 | | | 283,993 | | | | |
| Cash and Cash Equivalents at End of Year | $ | 107,430 | | | $ | 297,556 | | | $ | 234,128 | |
| | | | | | | | | | | | |
| Supplemental information—cash paid for: | | | | | | | | | | | |
| Interest | $ | 19,376 | | | $ | 16,462 | | | $ | 15,621 | |
| Income taxes, net of refunds | $ | 30,984 | | | $ | 44,856 | | | $ | 58,339 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:---------------------------------------------------------------------------|:----------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | Fiscal Year Ended March 31, | | | | | | | | | | |
| (in thousands of dollars, except share and per share data) | 2020 | | 2019 | | 2018 | | | | | | |
| Sales and other operating revenues | $ | 1,909,979 | | | $ | 2,227,153 | | | $ | 2,033,947 | |
| | | | | | | | | | | | |
| Costs and expenses | | | | | | | | | | | |
| Cost of goods sold | 1,553,167 | | | 1,820,562 | | | 1,661,999 | | | | |
| Selling, general and administrative expenses | 222,902 | | | 225,118 | | | 201,123 | | | | |
| Restructuring and impairment costs | 7,543 | | | 20,304 | | | — | | | | |
| | | | | | | | | | | | |
| Operating income | 126,367 | | | 161,169 | | | 170,825 | | | | |
| Equity in pretax earnings of unconsolidated affiliates | 4,211 | | | 5,299 | | | 9,125 | | | | |
| Other non-operating income (expense) | 986 | | | 832 | | | 662 | | | | |
| Interest income | 1,581 | | | 1,532 | | | 1,686 | | | | |
| Interest expense | 19,854 | | | 17,510 | | | 15,621 | | | | |
| | | | | | | | | | | | |
| Income before income taxes | 113,291 | | | 151,322 | | | 166,677 | | | | |
| Income taxes | 35,288 | | | 41,188 | | | 50,509 | | | | |
| | | | | | | | | | | | |
| Net income | 78,003 | | | 110,134 | | | 116,168 | | | | |
| Less: net income attributable to noncontrolling interests in subsidiaries | (6,323 | ) | | (6,013 | ) | | (10,506 | ) | | | |
| Net income attributable to Universal Corporation | $ | 71,680 | | | $ | 104,121 | | | $ | 105,662 | |
| | | | | | | | | | | | |
| Earnings per share: | | | | | | | | | | | |
| Basic | $ | 2.87 | | | $ | 4.14 | | | $ | 4.18 | |
| Diluted | $ | 2.86 | | | $ | 4.11 | | | $ | 4.14 | |
| | | | | | | | | | | | |
| Weighted average common shares outstanding: | | | | | | | | | | | |
| Basic | 24,982,259 | | | 25,129,192 | | | 25,274,975 | | | | |
| Diluted | 25,106,351 | | | 25,330,437 | | | 25,508,144 | | | | |
---
English News:
Universal Packaging Shifts Focus to COVID 19 Solutions by Providing FDA Approved Face Masks Leading Provider to National Pharmaceutical and Long Term Care Industries Has 3 Ply Surgical and KN95 Masks In Stock Ready to Ship Same Day. HUNT VALLEY Md June 4 2020 PRNewswire Universal Packaging a leading provider of personal protective equipment PPE has long delivered solutions to companies requiring this important equipment. The company has ramped up its inventory to meet the needs of medical workers first responders and workers in essential businesses to help reduce the spread of COVID 19. Their 50000 sq ft warehouse is stocked and ready to deliver with same day shipping available.Continue Reading Universal Packaging Universal Packaging has already delivered masks to hundreds of companies including first responders manufacturers medical and long term care facilities and is receiving new orders daily from across the US.We rushed production to meet the countrys growing need so we can help keep everyone safe while we face this horrible pandemic said Ryan Rush President Universal Packaging.Serving the community is important to Universal Packaging. The company has donated thousands of masks to local police to ensure our first responders are protected during this difficult time said Rush.Universal Packagings masks include an FDA approved 3 Ply Surgical Mask with flexible earloop bands that stretch to fit all sizes. The KN95 masks offer five layers of protection and a comfortable fit. The masks are available online for direct purchase at www.direct.univpack.com. For order inquiries over 50000 masks contact Ryan Rush directly at 410 905 3059 About Universal Packaging Universal Packaging is a leading packaging and protective solutions provider. Years of research and development have been dedicated to creating the best possible products for some of the most difficult applications and environments. Personal protective equipment including surgical and KN95 masks special purpose pharmacy bags gowns and gloves have been developed to meet our customers ever evolving needs. Based in Hunt Valley Maryland we service the entire United States with distribution across the nation. For more information visit www.UnivPack.com.Media Contact Fred Almond Marketing and Communications Universal Packaging 410 825 8300 emailprotected
Chinese News:
跨国公司来自美国烟草网的消息，最近，雷诺美国烟草公司、帝国品牌公司以及利杰特烟草公司向美国德克萨斯州的一家联邦法院提起了法律诉讼。诉讼中将要挑战美国食品与药品管理局（FDA）早在2个月前，即2020年3月份，美国FDA发布最终规则，要求在卷烟包装和 卷烟广告中展示新的健康警告。这些警告应使用带有真实照片的彩色图像的文字说明，描述一些鲜为人知但严重的吸烟健康风险，包括心脏病， 糖尿病等的影响。英美烟草南非分公司（BATSA）将针对该国政府决定在全国禁酒令第3级期间延长对烟草销售的禁令而采取法律行动。该公司在 一份声明中说：“自禁令生效以来，BATSA已尽一切努力与政府进行建设性接触，包括与其他有关方面一起向各部长以及直接向总统提交详尽的呈 件。迄今为止，尚未收到政府的正式回应，BATSA也未纳入政府的任何磋商程序。”环球烟草公布财报，公告显示公司2020财年年报归属于母公司 普通股股东净利润为7168.00万美元，同比下降31.16%；营业收入为19.10亿美元，同比下跌14.24%。Universal Corporation是一家领先的烟叶烟草供应商。它在5大洲超过30个国家都有业务。自其1918年建立后烟草业就成了其主要业务。它业务的最大部分就是为消费性烟草产品生产商收集处理烤烟和白肋烟叶。市场动态5月31日是第33个世界无烟日。为保护青少年免受烟草和尼古丁伤害，5月27日，国际防痨和肺部疾病联合会（以 下简称“联合会”）公开发表声明，倡导在中低收入国家禁止销售电子烟和加热型烟草制品。国际防痨和肺部疾病联合会是一家全球性卫生组织， 致力于消灭结核病、关注肺部健康，对烟草业持抵制态度。因新冠疫情疫情，原计划将在波兰华沙举行的线下全球尼古丁论坛（GFN）将延期至2020年6月11日至12日线上举行。该会议免费向所有对尼古丁科学和政策感兴趣的人开放。会议期间，专家们将讨论尼古丁科学的进展，探讨有利于减少烟草危害的道德论据，并探讨所有主张健康权的人的人权问题。据纽约时报报道，Puff Bar电子烟公司的产品在美国目前已经迅速超越了Juul，并在广告中宣传自己的产品，以摆脱家长教条和压力。美国众议院议员本周要求美国食品药品监督管理局（FDA）禁止快速增长的电子烟Puff Bar，该电子烟已迅速取代Juul，成为年轻人的首选电子烟。但FDA拒绝讨论Puff Bar。2019年世界控烟履约进展报告发布。世界各国结合《公约 》要求，在减少烟草需求的措施、减少烟草供给的措施、减少烟草危害的措施等方面取得了积极的控烟履约进展，如加强烟草制品成分管制、提 高烟草税负、提高包装标识警示效果、严格管制烟草广告等。2019年，全球控烟履约工作整体呈现出控烟措施日渐深化、交流日益广泛、新型烟 草产品监管日趋严格等特点。烟草与法美国食品药品监督管理局（FDA）已将2021年10月16日定为可燃卷烟图形健康新警告标签的生效日期。新的警告集包含患肺的图像、一个患有勃起功能障碍的男人、一个患有心脏或肺部手术缝合针的男人以及一个戴着氧气面罩的孩子的图像。但是，正 如FDA所建议的那样，没有气管孔冒烟，没有尸体，也没有死者的照片。据来自Business Recorder的消息，近年来，随着巴基斯坦国内非法烟草 贸易量的增长，已造成了政府收入的严重损失。数据显示，巴基斯坦政府在2019年至2020年期间，因为非法烟草贸易量的增长，政府已经遭受到 了数十亿美元的巨额损失。该国烟草业总消费量的近40%是通过黑市非法贸易进行的，这也令政府财政部门的官员感到十分担忧。新型烟草据烟业通讯报道，日本烟草公司（JT）正在推出其Ploom S 2.0，这是一种专门用于薄荷醇的升级版加热烟草设备。Ploom S 2.0配备了新的加热模式， 与当前的Ploom S相比，它可以延长峰值加热温度的持续时间。JT称，这使薄荷醇的新鲜度，浓蒸汽和清澈的烟草味之间达到了平衡。今年悄悄兴起的茶烟，又叫加热不燃烧非烟烟弹，是民营企业自主研发，可用于加热不燃烧设备的产品，目前不属于烟草专卖法管控范围。据了解到的企业 信息，目前加热不燃烧非烟烟弹的量平均在3万条/月，之前主要是走日韩、欧美等国外市场，但在疫情期间，有些品牌开启了国内的风潮。有权 威业内人士认为，接下来加热不燃烧非烟烟弹会迎来一波小高潮。
Japanese News:
米国の大手農産物サプライヤーで世界的な葉タバコ供給企業であるUniversal Corporation（UVV）は2020年5月28日（現地時間）、2020年度（2019年4月～2020年3月期）の通期決算を発表した。連結売上高は約19億ドル、営業利益は1億2640万ドル、セグメント別営業利益は1億3810万ドルを計上した。 同社は1918年の創業以来、主に葉タバコ供給を中心に事業展開している。現在では世界5大陸30カ国以上で事業を展開し、タバコ葉をはじめとした農産物の調達・加工・梱包・保管・物流を総合的に手掛けている。同社は最終消費製品の製造は行わず、主に製品メーカー向けに加工済みの原材料と関連サービスを提供するビジネスモデルを採用している。 主要事業である葉タバコ供給については、主に北米およびその他地域の二つの事業セグメントで構成されており、安定した業績を維持した。また、「その他タバコ関連事業」として、ダークタバコやオリエンタルタバコの合弁事業のほか、青果物の加工事業、各種農業関連サービスも展開している。 同社はグローバルな調達体制と柔軟な供給網を強化し、世界市場での競争力をさらに高める戦略をとっている。経営陣は今後の展望について、「当社の強みである世界規模の調達・加工・物流ネットワークを活かし、各地域での需要変動にも迅速に対応できるよう引き続き努力していく」とコメントした。
Spanish News:
Universal Corporation ha proporcionado una guía de producción para el año fiscal 2021. Para ese año, la empresa espera que la producción mundial de tabaco curado al fuego y de burley disminuya en torno al 7% y al 10%, respectivamente, lo que, en su opinión, mantendrá el tabaco curado al fuego en una posición de ligero exceso de oferta y el burley se mantendrá en una posición de oferta equilibrada.
Greek News:
Το οικονομικό έτος που έληξε στις 31 Μαρτίου του 2020, η Universal Corporation (UVV) αντιμετώπισε καινούριες προκλήσεις, κυρίως λόγω της παγκόσμιας πανδημίας COVID-19. Οι μακροοικονομικές πιέσεις ήταν σοβαρές, αφού η ξαφνική υποτίμηση νομισμάτων όπως η ινδονησιακή ρούπια, το βραζιλιάνικο Ρεάλ και το μεξικάνικο πέσο οδήγησε σε ζημιές λόγω επανεκτίμησης ύψους $ 13 εκατομμυρίων. Επιπλέον καταγράφηκαν καθυστερήσεις στις αποστολές, μειώσεις στις παραγγελίες και αύξηση των μη δεσμευμένων αποθεμάτων, ιδιαίτερα σε αγορές κλειδιά όπως η Βόρεια Αμερική και η Αφρική. Η εταιρία διατήρησε σχετικά σταθερά μικτά περιθώρια κέρδους, συγκεκριμένα, για το έτος 2020, το συνολικό μικτό κέρδος έπεσε στα $ 356,8 χιλιάδες δολλάρια σε σύγκριση $ 406,6 χιλιάδων το προηγούμενο έτος, παρουσιάζοντας αξιοσημείωτη πτώση κατά 12,25%. Οι εκτιμήσεις για το 2021, είναι πως η παγκόσμια μείωση παραγωγής για καπνά flue-cured και burley κατά 7% και 10% αντίστοιχα, αναμένεται να επηρεάσει την ισορροπία προσφοράς και ζήτησης. Η εταιρία έχει λάβει προληπτικά μέτρα, περιορίζοντας τις κεφαλαιουχικές δαπάνες και ενισχύοντας την προστασία των εργαζομένων της, ενώ ταυτόχρονα συνεχίζει να αντιμετωπίζει προκλήσεις λόγω της αστάθειας της εφοδιαστικής αλυσίδας και των συναλλαγματικών ισοτιμιών.
Question:
What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: The company maintains relatively stable gross margins despite challenges, with focus on cost control and enhanced employee protection. Management emphasizes leveraging their global procurement and logistics network.
Financial Statement Evidence: "Operating income 126,367" (2020) vs "161,169" (2019), "Cost of goods sold 1,553,167" (2020), representing 81.3% of sales |
UVV_20200528 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 |
|:------------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|
| | | | | | | | |
| | | | | | | | |
| | March 31, | | | | | | |
| (in thousands of dollars) | 2020 | | 2019 | | | | |
| ASSETS | | | | | | | |
| Current assets | | | | | | | |
| Cash and cash equivalents | $ | 107,430 | | | $ | 297,556 | |
| Accounts receivable, net | 340,711 | | | 368,110 | | | |
| Advances to suppliers, net | 133,778 | | | 106,850 | | | |
| Accounts receivable—unconsolidated affiliates | 11,483 | | | 30,951 | | | |
| Inventories—at lower of cost or net realizable value: | | | | | | | |
| Tobacco | 707,298 | | | 629,606 | | | |
| Other | 99,275 | | | 69,611 | | | |
| Prepaid income taxes | 12,144 | | | 14,264 | | | |
| Other current assets | 67,498 | | | 71,197 | | | |
| Total current assets | 1,479,617 | | | 1,588,145 | | | |
| | | | | | | | |
| Property, plant and equipment | | | | | | | |
| Land | 21,376 | | | 22,952 | | | |
| Buildings | 256,488 | | | 261,976 | | | |
| Machinery and equipment | 634,395 | | | 608,191 | | | |
| | 912,259 | | | 893,119 | | | |
| Less accumulated depreciation | (597,106 | ) | | (590,625 | ) | | |
| | 315,153 | | | 302,494 | | | |
| Other assets | | | | | | | |
| Operating lease right-of-use assets | 39,256 | | | — | | | |
| Goodwill and other intangibles, net | 144,687 | | | 97,994 | | | |
| Investments in unconsolidated affiliates | 77,543 | | | 80,482 | | | |
| Deferred income taxes | 20,954 | | | 13,357 | | | |
| Other noncurrent assets | 43,711 | | | 50,712 | | | |
| | 326,151 | | | 242,545 | | | |
| | | | | | | | |
| Total assets | $ | 2,120,921 | | | $ | 2,133,184 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 |
|:----------------------------------------------------------------------------------------------------------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|
| | | | | | | | |
| | | | | | | | |
| | March 31, | | | | | | |
| (in thousands of dollars) | 2020 | | 2019 | | | | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | |
| Current liabilities | | | | | | | |
| Notes payable and overdrafts | $ | 78,033 | | | $ | 54,023 | |
| Accounts payable and accrued expenses | 140,202 | | | 145,506 | | | |
| Accounts payable—unconsolidated affiliates | 55 | | | 106 | | | |
| Customer advances and deposits | 10,242 | | | 21,675 | | | |
| Accrued compensation | 23,710 | | | 31,372 | | | |
| Income taxes payable | 5,334 | | | 1,066 | | | |
| Current portion of operating lease liabilities | 9,823 | | | — | | | |
| Current portion of long-term debt | — | | | — | | | |
| Total current liabilities | 267,399 | | | 253,748 | | | |
| | | | | | | | |
| Long-term debt | 368,764 | | | 368,503 | | | |
| Pensions and other postretirement benefits | 70,680 | | | 59,257 | | | |
| Long-term operating lease liabilities | 25,893 | | | — | | | |
| Other long-term liabilities | 69,427 | | | 43,214 | | | |
| Deferred income taxes | 29,474 | | | 28,584 | | | |
| Total liabilities | 831,637 | | | 753,306 | | | |
| | | | | | | | |
| Shareholders’ equity | | | | | | | |
| Universal Corporation: | | | | | | | |
| Preferred stock: | | | | | | | |
| Series A Junior Participating Preferred Stock, no par value, 500,000 shares authorized,none issued or outstanding | — | | | — | | | |
| Common stock, no par value, 100,000,000 shares authorized, 24,421,835 shares issuedand outstanding (24,989,946 at March 31, 2019) | 321,502 | | | 326,600 | | | |
| Retained earnings | 1,076,760 | | | 1,106,178 | | | |
| Accumulated other comprehensive loss | (151,597 | ) | | (95,691 | ) | | |
| Total Universal Corporation shareholders' equity | 1,246,665 | | | 1,337,087 | | | |
| Noncontrolling interests in subsidiaries | 42,619 | | | 42,791 | | | |
| Total shareholders' equity | 1,289,284 | | | 1,379,878 | | | |
| | | | | | | | |
| Total liabilities and shareholders' equity | $ | 2,120,921 | | | $ | 2,133,184 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:----------------------------------------------------------------------------------|:----------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | Fiscal Year Ended March 31, | | | | | | | | | | |
| (in thousands of dollars) | 2020 | | 2019 | | 2018 | | | | | | |
| Cash Flows From Operating Activities: | | | | | | | | | | | |
| Net income | $ | 78,003 | | | $ | 110,134 | | | $ | 116,168 | |
| Adjustments to reconcile net income to net cash provided by operating activities: | | | | | | | | | | | |
| Depreciation and amortization | 38,379 | | | 37,104 | | | 34,836 | | | | |
| Provision for losses (recoveries) on advances and guaranteed loans to suppliers | 937 | | | (2,339 | ) | | 3,730 | | | | |
| Inventory write-downs | 10,319 | | | 4,002 | | | 7,687 | | | | |
| Stock-based compensation expense | 5,631 | | | 8,152 | | | 7,610 | | | | |
| Foreign currency remeasurement loss (gain), net | 16,422 | | | 1,786 | | | (184 | ) | | | |
| Deferred income taxes | (8,697 | ) | | 3,873 | | | (11,132 | ) | | | |
| Equity in net income of unconsolidated affiliates, net of dividends | 1,101 | | | 3,659 | | | (1,521 | ) | | | |
| Restructuring and impairment costs | 7,543 | | | 20,304 | | | — | | | | |
| Restructuring payments | (2,787 | ) | | (4,014 | ) | | (315 | ) | | | |
| Other, net | (8,772 | ) | | 5,613 | | | (7,866 | ) | | | |
| Changes in operating assets and liabilities, net: | | | | | | | | | | | |
| Accounts and notes receivable | 16,267 | | | (8,373 | ) | | 38,264 | | | | |
| Inventories and other assets | (94,538 | ) | | 33,796 | | | (116,728 | ) | | | |
| Income taxes | 10,927 | | | (8,981 | ) | | 1,239 | | | | |
| Accounts payable and other accrued liabilities | (48,534 | ) | | (54,912 | ) | | 13,397 | | | | |
| Customer advances and deposits | (11,304 | ) | | 14,718 | | | (3,940 | ) | | | |
| Net cash provided by operating activities | 10,897 | | | 164,522 | | | 81,245 | | | | |
| | | | | | | | | | | | |
| Cash Flows From Investing Activities: | | | | | | | | | | | |
| Purchase of property, plant and equipment | (35,227 | ) | | (38,760 | ) | | (34,037 | ) | | | |
| Purchase of business, net of cash held by the business | (80,180 | ) | | — | | | — | | | | |
| Proceeds from sale of property, plant and equipment | 8,547 | | | 2,061 | | | 5,194 | | | | |
| Other | 495 | | | 2,000 | | | 1,450 | | | | |
| Net cash used by investing activities | (106,365 | ) | | (34,699 | ) | | (27,393 | ) | | | |
| | | | | | | | | | | | |
| Cash Flows From Financing Activities: | | | | | | | | | | | |
| Issuance (repayment) of short-term debt, net | 24,114 | | | 12,036 | | | (18,159 | ) | | | |
| Issuance of long-term debt | — | | | 41,147 | | | — | | | | |
| Repayment of long-term debt | — | | | (41,147 | ) | | — | | | | |
| Dividends paid to noncontrolling interests in subsidiaries | (6,251 | ) | | (5,938 | ) | | (7,350 | ) | | | |
| Repurchase of common stock | (33,457 | ) | | (1,443 | ) | | (21,610 | ) | | | |
| Dividends paid on common stock | (75,368 | ) | | (69,883 | ) | | (54,699 | ) | | | |
| Proceeds from termination of interest rate swap agreements | — | | | 5,428 | | | — | | | | |
| Debt issuance costs and other | (3,184 | ) | | (5,987 | ) | | (2,828 | ) | | | |
| Net cash used by financing activities | (94,146 | ) | | (65,787 | ) | | (104,646 | ) | | | |
| | | | | | | | | | | | |
| Effect of exchange rate changes on cash | (512 | ) | | (608 | ) | | 929 | | | | |
| Net increase (decrease) in cash and cash equivalents | (190,126 | ) | | 63,428 | | | (49,865 | ) | | | |
| Cash and cash equivalents at beginning of year | 297,556 | | | 234,128 | | | 283,993 | | | | |
| Cash and Cash Equivalents at End of Year | $ | 107,430 | | | $ | 297,556 | | | $ | 234,128 | |
| | | | | | | | | | | | |
| Supplemental information—cash paid for: | | | | | | | | | | | |
| Interest | $ | 19,376 | | | $ | 16,462 | | | $ | 15,621 | |
| Income taxes, net of refunds | $ | 30,984 | | | $ | 44,856 | | | $ | 58,339 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 |
|:---------------------------------------------------------------------------|:----------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | Fiscal Year Ended March 31, | | | | | | | | | | |
| (in thousands of dollars, except share and per share data) | 2020 | | 2019 | | 2018 | | | | | | |
| Sales and other operating revenues | $ | 1,909,979 | | | $ | 2,227,153 | | | $ | 2,033,947 | |
| | | | | | | | | | | | |
| Costs and expenses | | | | | | | | | | | |
| Cost of goods sold | 1,553,167 | | | 1,820,562 | | | 1,661,999 | | | | |
| Selling, general and administrative expenses | 222,902 | | | 225,118 | | | 201,123 | | | | |
| Restructuring and impairment costs | 7,543 | | | 20,304 | | | — | | | | |
| | | | | | | | | | | | |
| Operating income | 126,367 | | | 161,169 | | | 170,825 | | | | |
| Equity in pretax earnings of unconsolidated affiliates | 4,211 | | | 5,299 | | | 9,125 | | | | |
| Other non-operating income (expense) | 986 | | | 832 | | | 662 | | | | |
| Interest income | 1,581 | | | 1,532 | | | 1,686 | | | | |
| Interest expense | 19,854 | | | 17,510 | | | 15,621 | | | | |
| | | | | | | | | | | | |
| Income before income taxes | 113,291 | | | 151,322 | | | 166,677 | | | | |
| Income taxes | 35,288 | | | 41,188 | | | 50,509 | | | | |
| | | | | | | | | | | | |
| Net income | 78,003 | | | 110,134 | | | 116,168 | | | | |
| Less: net income attributable to noncontrolling interests in subsidiaries | (6,323 | ) | | (6,013 | ) | | (10,506 | ) | | | |
| Net income attributable to Universal Corporation | $ | 71,680 | | | $ | 104,121 | | | $ | 105,662 | |
| | | | | | | | | | | | |
| Earnings per share: | | | | | | | | | | | |
| Basic | $ | 2.87 | | | $ | 4.14 | | | $ | 4.18 | |
| Diluted | $ | 2.86 | | | $ | 4.11 | | | $ | 4.14 | |
| | | | | | | | | | | | |
| Weighted average common shares outstanding: | | | | | | | | | | | |
| Basic | 24,982,259 | | | 25,129,192 | | | 25,274,975 | | | | |
| Diluted | 25,106,351 | | | 25,330,437 | | | 25,508,144 | | | | |
---
English News:
Universal Packaging Shifts Focus to COVID 19 Solutions by Providing FDA Approved Face Masks Leading Provider to National Pharmaceutical and Long Term Care Industries Has 3 Ply Surgical and KN95 Masks In Stock Ready to Ship Same Day. HUNT VALLEY Md June 4 2020 PRNewswire Universal Packaging a leading provider of personal protective equipment PPE has long delivered solutions to companies requiring this important equipment. The company has ramped up its inventory to meet the needs of medical workers first responders and workers in essential businesses to help reduce the spread of COVID 19. Their 50000 sq ft warehouse is stocked and ready to deliver with same day shipping available.Continue Reading Universal Packaging Universal Packaging has already delivered masks to hundreds of companies including first responders manufacturers medical and long term care facilities and is receiving new orders daily from across the US.We rushed production to meet the countrys growing need so we can help keep everyone safe while we face this horrible pandemic said Ryan Rush President Universal Packaging.Serving the community is important to Universal Packaging. The company has donated thousands of masks to local police to ensure our first responders are protected during this difficult time said Rush.Universal Packagings masks include an FDA approved 3 Ply Surgical Mask with flexible earloop bands that stretch to fit all sizes. The KN95 masks offer five layers of protection and a comfortable fit. The masks are available online for direct purchase at www.direct.univpack.com. For order inquiries over 50000 masks contact Ryan Rush directly at 410 905 3059 About Universal Packaging Universal Packaging is a leading packaging and protective solutions provider. Years of research and development have been dedicated to creating the best possible products for some of the most difficult applications and environments. Personal protective equipment including surgical and KN95 masks special purpose pharmacy bags gowns and gloves have been developed to meet our customers ever evolving needs. Based in Hunt Valley Maryland we service the entire United States with distribution across the nation. For more information visit www.UnivPack.com.Media Contact Fred Almond Marketing and Communications Universal Packaging 410 825 8300 emailprotected
Chinese News:
跨国公司来自美国烟草网的消息，最近，雷诺美国烟草公司、帝国品牌公司以及利杰特烟草公司向美国德克萨斯州的一家联邦法院提起了法律诉讼。诉讼中将要挑战美国食品与药品管理局（FDA）早在2个月前，即2020年3月份，美国FDA发布最终规则，要求在卷烟包装和 卷烟广告中展示新的健康警告。这些警告应使用带有真实照片的彩色图像的文字说明，描述一些鲜为人知但严重的吸烟健康风险，包括心脏病， 糖尿病等的影响。英美烟草南非分公司（BATSA）将针对该国政府决定在全国禁酒令第3级期间延长对烟草销售的禁令而采取法律行动。该公司在 一份声明中说：“自禁令生效以来，BATSA已尽一切努力与政府进行建设性接触，包括与其他有关方面一起向各部长以及直接向总统提交详尽的呈 件。迄今为止，尚未收到政府的正式回应，BATSA也未纳入政府的任何磋商程序。”环球烟草公布财报，公告显示公司2020财年年报归属于母公司 普通股股东净利润为7168.00万美元，同比下降31.16%；营业收入为19.10亿美元，同比下跌14.24%。Universal Corporation是一家领先的烟叶烟草供应商。它在5大洲超过30个国家都有业务。自其1918年建立后烟草业就成了其主要业务。它业务的最大部分就是为消费性烟草产品生产商收集处理烤烟和白肋烟叶。市场动态5月31日是第33个世界无烟日。为保护青少年免受烟草和尼古丁伤害，5月27日，国际防痨和肺部疾病联合会（以 下简称“联合会”）公开发表声明，倡导在中低收入国家禁止销售电子烟和加热型烟草制品。国际防痨和肺部疾病联合会是一家全球性卫生组织， 致力于消灭结核病、关注肺部健康，对烟草业持抵制态度。因新冠疫情疫情，原计划将在波兰华沙举行的线下全球尼古丁论坛（GFN）将延期至2020年6月11日至12日线上举行。该会议免费向所有对尼古丁科学和政策感兴趣的人开放。会议期间，专家们将讨论尼古丁科学的进展，探讨有利于减少烟草危害的道德论据，并探讨所有主张健康权的人的人权问题。据纽约时报报道，Puff Bar电子烟公司的产品在美国目前已经迅速超越了Juul，并在广告中宣传自己的产品，以摆脱家长教条和压力。美国众议院议员本周要求美国食品药品监督管理局（FDA）禁止快速增长的电子烟Puff Bar，该电子烟已迅速取代Juul，成为年轻人的首选电子烟。但FDA拒绝讨论Puff Bar。2019年世界控烟履约进展报告发布。世界各国结合《公约 》要求，在减少烟草需求的措施、减少烟草供给的措施、减少烟草危害的措施等方面取得了积极的控烟履约进展，如加强烟草制品成分管制、提 高烟草税负、提高包装标识警示效果、严格管制烟草广告等。2019年，全球控烟履约工作整体呈现出控烟措施日渐深化、交流日益广泛、新型烟 草产品监管日趋严格等特点。烟草与法美国食品药品监督管理局（FDA）已将2021年10月16日定为可燃卷烟图形健康新警告标签的生效日期。新的警告集包含患肺的图像、一个患有勃起功能障碍的男人、一个患有心脏或肺部手术缝合针的男人以及一个戴着氧气面罩的孩子的图像。但是，正 如FDA所建议的那样，没有气管孔冒烟，没有尸体，也没有死者的照片。据来自Business Recorder的消息，近年来，随着巴基斯坦国内非法烟草 贸易量的增长，已造成了政府收入的严重损失。数据显示，巴基斯坦政府在2019年至2020年期间，因为非法烟草贸易量的增长，政府已经遭受到 了数十亿美元的巨额损失。该国烟草业总消费量的近40%是通过黑市非法贸易进行的，这也令政府财政部门的官员感到十分担忧。新型烟草据烟业通讯报道，日本烟草公司（JT）正在推出其Ploom S 2.0，这是一种专门用于薄荷醇的升级版加热烟草设备。Ploom S 2.0配备了新的加热模式， 与当前的Ploom S相比，它可以延长峰值加热温度的持续时间。JT称，这使薄荷醇的新鲜度，浓蒸汽和清澈的烟草味之间达到了平衡。今年悄悄兴起的茶烟，又叫加热不燃烧非烟烟弹，是民营企业自主研发，可用于加热不燃烧设备的产品，目前不属于烟草专卖法管控范围。据了解到的企业 信息，目前加热不燃烧非烟烟弹的量平均在3万条/月，之前主要是走日韩、欧美等国外市场，但在疫情期间，有些品牌开启了国内的风潮。有权 威业内人士认为，接下来加热不燃烧非烟烟弹会迎来一波小高潮。
Japanese News:
米国の大手農産物サプライヤーで世界的な葉タバコ供給企業であるUniversal Corporation（UVV）は2020年5月28日（現地時間）、2020年度（2019年4月～2020年3月期）の通期決算を発表した。連結売上高は約19億ドル、営業利益は1億2640万ドル、セグメント別営業利益は1億3810万ドルを計上した。 同社は1918年の創業以来、主に葉タバコ供給を中心に事業展開している。現在では世界5大陸30カ国以上で事業を展開し、タバコ葉をはじめとした農産物の調達・加工・梱包・保管・物流を総合的に手掛けている。同社は最終消費製品の製造は行わず、主に製品メーカー向けに加工済みの原材料と関連サービスを提供するビジネスモデルを採用している。 主要事業である葉タバコ供給については、主に北米およびその他地域の二つの事業セグメントで構成されており、安定した業績を維持した。また、「その他タバコ関連事業」として、ダークタバコやオリエンタルタバコの合弁事業のほか、青果物の加工事業、各種農業関連サービスも展開している。 同社はグローバルな調達体制と柔軟な供給網を強化し、世界市場での競争力をさらに高める戦略をとっている。経営陣は今後の展望について、「当社の強みである世界規模の調達・加工・物流ネットワークを活かし、各地域での需要変動にも迅速に対応できるよう引き続き努力していく」とコメントした。
Spanish News:
Universal Corporation ha proporcionado una guía de producción para el año fiscal 2021. Para ese año, la empresa espera que la producción mundial de tabaco curado al fuego y de burley disminuya en torno al 7% y al 10%, respectivamente, lo que, en su opinión, mantendrá el tabaco curado al fuego en una posición de ligero exceso de oferta y el burley se mantendrá en una posición de oferta equilibrada.
Greek News:
Το οικονομικό έτος που έληξε στις 31 Μαρτίου του 2020, η Universal Corporation (UVV) αντιμετώπισε καινούριες προκλήσεις, κυρίως λόγω της παγκόσμιας πανδημίας COVID-19. Οι μακροοικονομικές πιέσεις ήταν σοβαρές, αφού η ξαφνική υποτίμηση νομισμάτων όπως η ινδονησιακή ρούπια, το βραζιλιάνικο Ρεάλ και το μεξικάνικο πέσο οδήγησε σε ζημιές λόγω επανεκτίμησης ύψους $ 13 εκατομμυρίων. Επιπλέον καταγράφηκαν καθυστερήσεις στις αποστολές, μειώσεις στις παραγγελίες και αύξηση των μη δεσμευμένων αποθεμάτων, ιδιαίτερα σε αγορές κλειδιά όπως η Βόρεια Αμερική και η Αφρική. Η εταιρία διατήρησε σχετικά σταθερά μικτά περιθώρια κέρδους, συγκεκριμένα, για το έτος 2020, το συνολικό μικτό κέρδος έπεσε στα $ 356,8 χιλιάδες δολλάρια σε σύγκριση $ 406,6 χιλιάδων το προηγούμενο έτος, παρουσιάζοντας αξιοσημείωτη πτώση κατά 12,25%. Οι εκτιμήσεις για το 2021, είναι πως η παγκόσμια μείωση παραγωγής για καπνά flue-cured και burley κατά 7% και 10% αντίστοιχα, αναμένεται να επηρεάσει την ισορροπία προσφοράς και ζήτησης. Η εταιρία έχει λάβει προληπτικά μέτρα, περιορίζοντας τις κεφαλαιουχικές δαπάνες και ενισχύοντας την προστασία των εργαζομένων της, ενώ ταυτόχρονα συνεχίζει να αντιμετωπίζει προκλήσεις λόγω της αστάθειας της εφοδιαστικής αλυσίδας και των συναλλαγματικών ισοτιμιών.
Question:
What are the company's capital expenditures and their strategic significance from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | What are the company's capital expenditures and their strategic significance from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: Capital expenditures decreased to $35.2 million in 2020. The company is limiting capital spending as a preventive measure while strengthening supply chain resilience and global network capabilities.
Financial Statement Evidence: "Purchase of property, plant and equipment (35,227)" (2020) vs "(38,760)" (2019) |
UVV_20200805 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 |
|:------------------------------------------------------|:-----------|:------------|:-----------|:------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| | | June 30, | | June 30, | | March 31, | | | | | | |
| | | 2020 | | 2019 | | 2020 | | | | | | |
| | | (Unaudited) | | (Unaudited) | | | | | | | | |
| ASSETS | | | | | | | | | | | | |
| Current assets | | | | | | | | | | | | |
| Cash and cash equivalents | | $ | 100,015 | | | $ | 167,996 | | | $ | 107,430 | |
| Accounts receivable, net | | 222,162 | | | 217,905 | | | 340,711 | | | | |
| Advances to suppliers, net | | 65,221 | | | 80,032 | | | 133,778 | | | | |
| Accounts receivable—unconsolidated affiliates | | 32,827 | | | 63,388 | | | 11,483 | | | | |
| Inventories—at lower of cost or net realizable value: | | | | | | | | | | | | |
| Tobacco | | 858,940 | | | 898,409 | | | 707,298 | | | | |
| Other | | 104,399 | | | 77,654 | | | 99,275 | | | | |
| Prepaid income taxes | | 13,426 | | | 20,985 | | | 12,144 | | | | |
| Other current assets | | 65,675 | | | 75,689 | | | 67,498 | | | | |
| Total current assets | | 1,462,665 | | | 1,602,058 | | | 1,479,617 | | | | |
| | | | | | | | | | | | | |
| Property, plant and equipment | | | | | | | | | | | | |
| Land | | 21,454 | | | 22,785 | | | 21,376 | | | | |
| Buildings | | 258,306 | | | 262,688 | | | 256,488 | | | | |
| Machinery and equipment | | 644,092 | | | 611,209 | | | 634,395 | | | | |
| | | 923,852 | | | 896,682 | | | 912,259 | | | | |
| Less accumulated depreciation | | (608,173 | ) | | (597,257 | ) | | (597,106 | ) | | | |
| | | 315,679 | | | 299,425 | | | 315,153 | | | | |
| Other assets | | | | | | | | | | | | |
| Operating lease right-of-use assets | | 37,576 | | | 34,472 | | | 39,256 | | | | |
| Goodwill and other intangibles, net | | 143,976 | | | 98,029 | | | 144,687 | | | | |
| Investments in unconsolidated affiliates | | 79,198 | | | 80,985 | | | 77,543 | | | | |
| Deferred income taxes | | 23,085 | | | 15,582 | | | 20,954 | | | | |
| Other noncurrent assets | | 44,661 | | | 47,333 | | | 43,711 | | | | |
| | | 328,496 | | | 276,401 | | | 326,151 | | | | |
| | | | | | | | | | | | | |
| Total assets | | $ | 2,106,840 | | | $ | 2,177,884 | | | $ | 2,120,921 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 |
|:-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-----------|:------------|:-----------|:------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| | | June 30, | | June 30, | | March 31, | | | | | | |
| | | 2020 | | 2019 | | 2020 | | | | | | |
| | | (Unaudited) | | (Unaudited) | | | | | | | | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | | | | | | |
| Current liabilities | | | | | | | | | | | | |
| Notes payable and overdrafts | | $ | 92,758 | | | $ | 73,640 | | | $ | 78,033 | |
| Accounts payable and accrued expenses | | 133,621 | | | 179,297 | | | 140,202 | | | | |
| Accounts payable—unconsolidated affiliates | | — | | | 10 | | | 55 | | | | |
| Customer advances and deposits | | 10,575 | | | 4,397 | | | 10,242 | | | | |
| Accrued compensation | | 16,373 | | | 23,084 | | | 23,710 | | | | |
| Income taxes payable | | 2,359 | | | 1,576 | | | 5,334 | | | | |
| Current portion of operating lease liabilities | | 9,914 | | | 8,938 | | | 9,823 | | | | |
| Current portion of long-term debt | | — | | | — | | | — | | | | |
| Total current liabilities | | 265,600 | | | 290,942 | | | 267,399 | | | | |
| | | | | | | | | | | | | |
| Long-term debt | | 368,829 | | | 368,568 | | | 368,764 | | | | |
| Pensions and other postretirement benefits | | 70,473 | | | 59,364 | | | 70,680 | | | | |
| Long-term operating lease liabilities | | 24,040 | | | 23,098 | | | 25,893 | | | | |
| Other long-term liabilities | | 75,130 | | | 52,387 | | | 69,427 | | | | |
| Deferred income taxes | | 24,435 | | | 31,447 | | | 29,474 | | | | |
| Total liabilities | | 828,507 | | | 825,806 | | | 831,637 | | | | |
| | | | | | | | | | | | | |
| Shareholders’ equity | | | | | | | | | | | | |
| Universal Corporation: | | | | | | | | | | | | |
| Preferred stock: | | | | | | | | | | | | |
| Series A Junior Participating Preferred Stock, no par value, 500,000 shares authorized, none issued or outstanding | | — | | | — | | | — | | | | |
| Common stock, no par value, 100,000,000 shares authorized 24,488,964 shares issued and outstanding at June 30, 2020 (24,971,489 at June 30, 2019 and 24,421,835 at March 31, 2020) | | 322,449 | | | 325,515 | | | 321,502 | | | | |
| Retained earnings | | 1,064,927 | | | 1,084,987 | | | 1,076,760 | | | | |
| Accumulated other comprehensive loss | | (151,132 | ) | | (100,161 | ) | | (151,597 | ) | | | |
| Total Universal Corporation shareholders' equity | | 1,236,244 | | | 1,310,341 | | | 1,246,665 | | | | |
| Noncontrolling interests in subsidiaries | | 42,089 | | | 41,737 | | | 42,619 | | | | |
| Total shareholders' equity | | 1,278,333 | | | 1,352,078 | | | 1,289,284 | | | | |
| | | | | | | | | | | | | |
| Total liabilities and shareholders' equity | | $ | 2,106,840 | | | $ | 2,177,884 | | | $ | 2,120,921 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 |
|:--------------------------------------------------------------------------------------|:-----------|:----------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|
| | | | | | | | | |
| | | | | | | | | |
| | | Three Months Ended June 30, | | | | | | |
| | | 2020 | | 2019 | | | | |
| | | (Unaudited) | | | | | | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | | | | | | | | |
| Net income | | $ | 6,900 | | | $ | 895 | |
| Adjustments to reconcile net income to net cash used by operating activities: | | | | | | | | |
| Depreciation and amortization | | 10,105 | | | 9,067 | | | |
| Net provision for losses (recoveries) on advances and guaranteed loans to suppliers | | 57 | | | (165 | ) | | |
| Foreign currency remeasurement (gain) loss, net | | (4,691 | ) | | (1,497 | ) | | |
| Foreign currency exchange contracts | | (13,951 | ) | | 733 | | | |
| Restructuring payments | | (2,937 | ) | | — | | | |
| Change in estimated fair value of contingent consideration for FruitSmart acquisition | | (4,173 | ) | | — | | | |
| Other, net | | (3,350 | ) | | 3,047 | | | |
| Changes in operating assets and liabilities, net | | 12,087 | | | (128,819 | ) | | |
| Net cash provided (used) by operating activities | | 47 | | | (116,739 | ) | | |
| | | | | | | | | |
| CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | | |
| Purchase of property, plant and equipment | | (8,386 | ) | | (5,679 | ) | | |
| Proceeds from sale of property, plant and equipment | | 218 | | | 226 | | | |
| Net cash used by investing activities | | (8,168 | ) | | (5,453 | ) | | |
| | | | | | | | | |
| CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | |
| Issuance of short-term debt, net | | 20,688 | | | 19,257 | | | |
| Repurchase of common stock | | — | | | (5,214 | ) | | |
| Dividends paid on common stock | | (18,567 | ) | | (18,742 | ) | | |
| Other | | (1,930 | ) | | (2,883 | ) | | |
| Net cash provided (used) by financing activities | | 191 | | | (7,582 | ) | | |
| | | | | | | | | |
| Effect of exchange rate changes on cash | | 515 | | | 214 | | | |
| Net decrease in cash and cash equivalents | | (7,415 | ) | | (129,560 | ) | | |
| Cash and cash equivalents at beginning of year | | 107,430 | | | 297,556 | | | |
| | | | | | | | | |
| Cash and cash equivalents at end of period | | $ | 100,015 | | | $ | 167,996 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 |
|:----------------------------------------------------------------------------------|:-----------|:----------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|
| | | | | | | | | |
| | | | | | | | | |
| | | Three Months Ended June 30, | | | | | | |
| | | 2020 | | 2019 | | | | |
| | | (Unaudited) | | | | | | |
| Sales and other operating revenues | | $ | 315,811 | | | $ | 296,915 | |
| Costs and expenses | | | | | | | | |
| Cost of goods sold | | 262,046 | | | 238,265 | | | |
| Selling, general and administrative expenses | | 49,410 | | | 51,136 | | | |
| Other income | | (4,173 | ) | | — | | | |
| Operating income | | 8,528 | | | 7,514 | | | |
| Equity in pretax earnings (loss) of unconsolidated affiliates | | (7 | ) | | 40 | | | |
| Other non-operating income (expense) | | (18 | ) | | 627 | | | |
| Interest income | | 159 | | | 1,008 | | | |
| Interest expense | | 6,810 | | | 4,028 | | | |
| Income before income taxes and other items | | 1,852 | | | 5,161 | | | |
| Income taxes | | (5,048 | ) | | 4,266 | | | |
| Net income | | 6,900 | | | 895 | | | |
| Less: net loss (income) attributable to noncontrolling interests in subsidiaries | | 374 | | | 1,177 | | | |
| Net income attributable to Universal Corporation | | $ | 7,274 | | | $ | 2,072 | |
| | | | | | | | | |
| Earnings per share: | | | | | | | | |
| Basic | | $ | 0.30 | | | $ | 0.08 | |
| Diluted | | $ | 0.29 | | | $ | 0.08 | |
| | | | | | | | | |
| Weighted average common shares outstanding: | | | | | | | | |
| Basic | | 24,602,610 | | | 25,158,369 | | | |
| Diluted | | 24,703,579 | | | 25,284,258 | | | |
| | | | | | | | | |
| Total comprehensive income, net of income taxes | | $ | 7,209 | | | $ | (3,452 | ) |
| Less: comprehensive income attributable to noncontrolling interests | | 530 | | | 1,054 | | | |
| Comprehensive income (loss) attributable to Universal Corporation | | $ | 7,739 | | | $ | (2,398 | ) |
| | | | | | | | | |
| Dividends declared per common share | | $ | 0.77 | | | $ | 0.76 | |
---
English News:
Universal Corporation Reports First Quarter Results RICHMOND Va Aug 5 2020 PRNewswire George C Freeman III Chairman President and Chief Executive Officer of Universal Corporation NYSE UVV reported net income of 7.3 million or 0.29 per diluted share for the first quarter of fiscal year 2021 which ended on June 30 2020. Those results were up 5.2 million compared with net income of 2.1 million or 0.08 per diluted share for the first quarter of fiscal year 2020. Excluding certain non recurring items detailed in Other Items below net income and diluted earnings per share declined by 4.3 million and 0.17 respectively for the quarter ended June 30 2020 compared to the quarter ended June 30 2019. Operating income of 8.5 million for the quarter ended June 30 2020 increased by 1.0 million compared to operating income of 7.5 million for the quarter ended June 30 2019. Segment operating income was 4.3 million for the first quarter of fiscal year 2021 down 3.2 million compared to the same period last fiscal year mainly as a result of earnings declines in the Other Regions and Other Tobacco Operations segments. Revenues of 315.8 million for the quarter ended June 30 2020 increased by 18.9 million or 6 on higher total sales volumes offset in part by lower sales and leaf prices as well as a less favorable mix. Mr Freeman stated Our fiscal year 2021 is off to a slow but respectable start as nearly all of our origins continue to make good progress moving through their various tobacco growing and processing activities. The first fiscal quarter is generally the weakest of our fiscal year given seasonal timing. This fiscal year as a result of the COVID 19 pandemic COVID we are also experiencing later openings of the tobacco buying seasons and slower processing due to social distancing and other local government safety requirements. We have also had some slower receipts of customer shipping instructions and orders. However to date we have not seen a material impact to our supply chain or seasonal planting or harvesting requirements. Despite COVID related slowdowns tobacco volumes in the first quarter of fiscal year 2021 exceeded those of the first quarter of fiscal year 2020. Volumes shipped out of Brazil in the quarter ended June 30 2020 included inventory that had been uncommitted at March 31 2020 reducing our overall uncommitted inventory levels. As of June 30 2020 our uncommitted inventory levels had declined significantly from fiscal year end 2020 levels and at 20.5 are now just outside our target range. A large portion of the shipped Brazilian volume however was lower margin carryover crop which impacted results for the quarter. Results for the quarter ended June 30 2020 were also impacted by several non recurring items including an adjustment to a contingent consideration for the acquisition of FruitSmart interest expense associated with a disputed foreign tax matter and an income tax benefit from issuance of final tax regulations for dividends paid by foreign subsidiaries. We have seen some reductions in projected global crop sizes for both burley and flue cured tobaccos for crop year 2020. We believe that these reflect a positive adjustment to market conditions and that burley tobacco remains in a balanced supply position and that flue cured tobacco is now in a slight oversupply position. We are also continuing to see very strong demand for natural wrapper tobaccos. We are prudently monitoring COVID developments around the world and are projecting that our sales volumes for fiscal year 2021 will be weighted to the back half of the fiscal year in part due to COVID related processing slowdowns and later customer mandated shipment timing. We also have experienced some increased volatility in foreign currency rates which we believe is related to the uncertainties from COVID. I am very proud of the success we continue to achieve while operating safely in more than 30 countries around the world during a time of unprecedented and disparate challenges. I believe our commitment to strong local management in our key operating areas has enabled us to react quickly and effectively to these new conditions. Our business is also built on relationships. Having these strong relationships with our customers and suppliers has allowed us to make the new remote interactions work well. I am very pleased and thankful for the hard work of our employees and the continued support of our customers growers and other partners during these challenging times. As we move forward in fiscal year 2021 we are focused on keeping our employees safe and running our business efficiently while positioning both our tobacco and non tobacco businesses for future success. As part of our capital allocation strategy we have made and will continue to explore disciplined investments in both tobacco opportunities and non tobacco businesses that we believe will be able to deliver shareholder value. FLUE CURED AND BURLEY LEAF TOBACCO OPERATIONS OTHER REGIONS The Other Regions segment operating loss of 4.3 million for the quarter ended June 30 2020 was 0.5 million greater than the prior years first fiscal quarter operating loss of 3.8 million. Although volumes in Brazil increased in the first quarter of fiscal year 2021 a large portion of the sales consisted of previously uncommitted inventories of lower margin carryover crop tobacco. In addition some volumes in Brazil that were expected to be shipped in the quarter ended June 30 2020 were delayed on limited vessel availability at the port due to COVID. For the first quarter of fiscal year 2021 lower results in Brazil were partially offset by increases in Asia largely due to higher volumes in the Philippines and higher volumes in Africa on carryover crop shipments delayed into the first quarter of fiscal 2021 compared to the same quarter in the prior fiscal year. Selling general and administrative costs for the segment were slightly lower in the quarter ended June 30 2020 as unfavorable foreign remeasurement comparisons mainly in Mozambique were offset by other declines in expenses including lower travel costs compared to the same period in the prior fiscal year. Revenues for the Other Regions segment of 204.7 million for the quarter ended June 30 2020 were up 2.7 million compared to the quarter ended June 30 2019 on higher volumes offset in part by lower sales and leaf prices and processing revenues. NORTH AMERICA Operating income for the North America segment for the quarter ended June 30 2020 of 1.0 million was flat compared to the quarter ended June 30 2019 as higher carryover volumes from the United States and lower expenses in Mexico due to timing offset lower processing volumes in Guatemala in part due to delays resulting from COVID restrictions. Selling general and administrative costs for the North America segment were flat compared to the prior years first fiscal quarter. Revenues for this segment increased by 12.3 million to 39.9 million for the quarter ended June 30 2020 compared to the same period in the prior fiscal year on higher carryover crop volumes at lower sales and leaf prices as well as a more favorable product mix. OTHER TOBACCO OPERATIONS The Other Tobacco Operations segment operating income of 7.6 million for the first quarter of fiscal year 2021 reflected a decrease of 2.9 million compared to operating income of 10.5 million for this segment in the same period last year. Results from our dark tobacco operations were lower on reduced volumes in part due to delays from COVID and lower costs in the prior year. In the quarter ended June 30 2020 results for the oriental joint venture were flat and operating income for the segment benefited from the acquisition in January 2020 of FruitSmart our new fruit and vegetable processing business compared to the same quarter last fiscal year. Selling general and administrative costs for the segment were down compared with the prior years first fiscal quarter mainly due to favorable foreign currency remeasurement comparisons primarily in Indonesia offset in part by the addition of costs for the new FruitSmart business. Revenues for this segment increased by 4.0 million to 71.2 million for the quarter ended June 30 2020 compared to the same period in the prior fiscal year on the addition of our FruitSmart business partially offset by lower dark tobacco sales. OTHER ITEMS Cost of goods sold in the quarter ended June 30 2020 of 262.0 million increased by about 10 compared with the same period last year as a result of higher sales volumes coupled with a less favorable mix. Interest expense for the quarter ended June 30 2020 increased by 2.8 million to 6.8 million compared with the same quarter in the prior year largely on a non recurring interest expense item associated with an uncertain tax matter at a foreign subsidiary. Selling general and administrative costs for the first quarter of fiscal year 2021 decreased by 1.7 million to 49.4 million compared with the same period in the prior year as benefits from positive net foreign currency remeasurement and exchange variances primarily in Indonesia and lower travel costs were offset in part by selling general and administrative costs for the FruitSmart business acquired in in the fourth quarter of fiscal year 2020. The following tables set forth certain non recurring items included in reported results to reconcile adjusted operating income to consolidated operating income and adjusted net income to net income attributable to Universal Corporation Adjusted Operating Income Reconciliation Three Months Ended June 30 in millions 2020 2019 As Reported Consolidated operating income 8528 7514 Fair value adjustment to contingent consideration for FruitSmart acquisition1 4173 Adjusted operating income 4355 7514 Adjusted Net Income and Diluted Earnings Per Share Three Months Ended June 30 in millions and reported net of income taxes 2020 2019 As Reported Net income available to Universal Corporation 7274 2072 Fair value adjustment to contingent consideration for FruitSmart acquisition1 4173 Interest expense related to an uncertain tax matter at a foreign subsidiary 1849 Income tax benefit from dividend withholding tax liability reversal2 4421 Income tax settlement for a foreign subsidiary3 2766 Adjusted Net income available to Universal Corporation 529 4838 As reported Diluted earnings per share 0.29 0.08 As adjusted Diluted earnings per share 0.02 0.19 1 The Company reversed a portion of the contingent consideration liability for the FruitSmart Inc acquisition as a result of forecasted performance metrics that are not expected to meet the required threshold stipulated in the purchase agreement. 2 The Company recognized an income tax benefit for final US tax regulations on certain dividends paid by foreign subsidiaries in a prior fiscal year. 3 During the 1st quarter of fiscal year2020 the Company recognized an income tax settlement charge related to operations at a foreign subsidiary. For the three months ended June30 2020 the Company reported a net tax benefit on pretax earnings of 5.0 million mainly due to a 4.4 million benefit for final tax regulations issued in the quarter regarding the treatment of dividends paid by foreign subsidiaries. Without this benefit income taxes for the quarter ended June 30 2020 would have been a benefit of approximately 0.6 million. For the three months ended June 30 2019 the Companys income tax expense of 4.3 million included a 2.8 million net tax accrual for a tax settlement at a foreign subsidiary. Without the tax settlement charge income taxes for the quarter ended June 30 2019 would have been approximately 1.5 million or a consolidated effective tax rate of approximately 29. COVID 19 Pandemic Impact On March 11 2020 the World Health Organization declared COVID 19 a pandemic. Foreign governmental organizations and governmental organizations in the United States have taken various actions to combat the spread of COVID including imposing stay at home orders and closing non essential businesses and their operations. We continue to closely monitor developments related to the ongoing COVID pandemic and have taken and continue to take steps intended to mitigate the potential risks to us. It is paramount that our employees who operate our businesses are safe and informed. We have assessed and regularly update our existing business continuity plans for our business in the context of this pandemic. For example we have taken precautions with regard to employee and facility hygiene imposed travel limitations on our employees directed certain employee groups to work remotely whenever possible and we continue to assess protocols designed to protect our employees customers and the public. We continue to work with our suppliers to mitigate the impacts to our supply chain due to the ongoing pandemic. To date we have not experienced a material impact to our supply chain. Since March 2020 we have at times experienced increased volatility in foreign currency exchange rates which we believe is in part related to the continued uncertainties from COVID as well as actions taken by governments and central banks in response to COVID. We expect continued volatility in foreign currency exchange rates during fiscal year 2021 though we cannot reasonably estimate the duration or extent of that volatility. We continue to monitor the impacts of COVID which include slower processing of our products due to controlled staffing in our facilities that could lead to later timing of shipments to our customers. We currently have sufficient liquidity to meet our current obligations and business operations remain fundamentally unchanged other than shipping delays which could impact quarterly comparisons. This is however a rapidly evolving situation and we cannot predict the extent or duration of the ongoing COVID pandemic the effects of it on the global national or local economy including the impacts on our ability to access capital or its effects on our business financial position results of operations and cash flows. We continue to monitor developments affecting our employees customers and operations and will take additional steps to address the spread of COVID and its impacts as necessary. Additional information Amounts described as net income loss and earnings loss per diluted share in the previous discussion are attributable to Universal Corporation and exclude earnings related to non controlling interests in subsidiaries. Adjusted operating income loss adjusted net income loss attributable to Universal Corporation adjusted diluted earnings loss per share and the total for segment operating income loss referred to in this discussion are non GAAP financial measures. These measures are not financial measures calculated in accordance with GAAP and should not be considered as substitutes for operating income loss net income loss attributable to Universal Corporation diluted earnings loss per share cash from operating activities or any other operating or financial performance measure calculated in accordance with GAAP and may not be comparable to similarly titled measures reported by other companies. A reconciliation of adjusted operating income loss to consolidated operating income adjusted net income loss attributable to Universal Corporation to consolidated net income loss attributable to Universal Corporation and adjusted diluted earnings loss per share to diluted earnings loss per share are provided in Other Items above. In addition we have provided a reconciliation of the total for segment operating income loss to consolidated operating income loss in Note 3 Operating Segments to the consolidated financial statements. Management evaluates the consolidated Company and segment performance excluding certain significant charges or credits. We believe these non GAAP financial measures which exclude items that we believe are not indicative of our core operating results provide investors with important information that is useful in understanding our business results and trends. This release includes forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company cautions readers that any statements contained herein regarding financial condition results of operation and future business plans operations opportunities and prospects for its performance are forward looking statements based upon managements current knowledge and assumptions about future events and involve risks and uncertainties that could cause actual results performance or achievements to be materially different from any anticipated results prospects performance or achievements expressed or implied by such forward looking statements. Such risks and uncertainties include but are not limited to impacts of the ongoing COVID 19 pandemic integration of FruitSmart and the impact of the FruitSmart acquisition on future results product purchased not meeting quality and quantity requirements reliance on a few large customers its ability to maintain effective information technology systems and safeguard confidential information anticipated levels of demand for and supply of its products and services costs incurred in providing these products and services timing of shipments to customers changes in market structure government regulation product taxation industry consolidation and evolution changes in exchange rates and interest rates impacts of regulation and litigation on its customers industry specific risks related to its food ingredient business exposure to certain regulatory and financial risks related to climate change changes in estimates and assumptions underlying its critical accounting policies the promulgation and adoption of new accounting standards new government regulations and interpretation of existing standards and regulations and general economic political market and weather conditions. Actual results therefore could vary from those expected. A further list and description of these risks uncertainties and other factors can be found in the Companys Annual Report on Form 10 K for the fiscal year ended March 31 2020 and in other documents the Company files with the Securities and Exchange Commission. This information should be read in conjunction with the Annual Report on Form 10 K for the year ended March 31 2020 and the Form 10 Q for the most recently ended fiscal quarter. The Company cautions investors not to place undue reliance on any forward looking statements as these statements speak only as of the date when made and it undertakes no obligation to update any forward looking statements made. At 500 pm Eastern Time on August 5 2020 the Company will host a conference call to discuss these results. Those wishing to listen to the call may do so by visiting www.universalcorp.com at that time. A replay of the webcast will be available at that site through November 5 2020. A taped replay of the call will be available through August 19 2020 by dialing 855 859 2056. The confirmation number to access the replay is 2771816. Universal Corporation NYSE UVV headquartered in Richmond Virginia sources processes and supplies agri products. Tobacco has been our principal focus since our founding in 1918 and we are the leading global leaf tobacco supplier. We conduct business in more than 30 countries on five continents. Our revenues for the fiscal year ended March 31 2020 were 1.9 billion. For more information on Universal Corporation visit our website at www.universalcorp.com.
Chinese News:
近日环球烟草公布财报，公告显示该公司2020财年第一财季归属于母公司普通股股东净利润为727.40万美元，同比增长251.06%；营业收入为3.16亿美元，同比上涨6.36%。Universal Corporation是一家领先的烟叶烟草供应商。它在5大洲超过30个国家都有业务。自其1918年建立后烟草业就成了其主要业务。它业务的最大部分就是为消费性烟草产品生产商收集处理烤烟和白肋烟叶。该公司两种烟的业务部门主要在 北美和其它地区。它还有第三个业务部门，即它的东方烟草合资企业以及一些与烟草有关的服务。
Japanese News:
米国大手葉タバコ供給企業であるユニバーサル・コーポレーション（NYSE: UVV）は2020年8月5日（現地時間）、2021会計年度第1四半期（2020年4月〜6月期）の業績を発表した。同期の売上高は前年同期比6.36％増の3億1581万ドル、営業利益は同13.50％増の852万8000ドル、純利益は前年同期の207万2000ドルから727万4000ドルへと大幅な増益を記録した。 1株当たり利益（EPS）は基本ベースで0.30ドル（前年同期0.08ドル）、希薄化後ベースで0.29ドル（前年同期0.08ドル）となった。 ユニバーサル・コーポレーションのジョージ・C・フリーマン3世CEOは、「2021会計年度のスタートは比較的ゆるやかだったが、COVID-19（新型コロナウイルス感染症）による影響を受けながらも、主要産地ではタバコ葉の栽培と加工が順調に進展している。第1四半期は季節的要因で例年最も業績が弱い期間だが、今期はCOVID-19対策によるソーシャルディスタンス措置等で、タバコの買い付け時期が遅れ、加工プロセスも一部遅延した。しかし、サプライチェーンや季節的な栽培・収穫には大きな影響を受けていない」とコメントした。 同氏によると、第1四半期はブラジルからの在庫出荷が増加し、未契約在庫の削減に成功したものの、出荷した在庫の多くが利益率の低い繰越在庫だったため、収益に一定の影響を及ぼした。また、非経常項目としてFruitSmart買収に関連する条件付対価の調整、海外子会社の税務問題に関連する利息費用、および海外子会社の配当に関する最終的な税務規制の発行による所得税恩恵などが業績に影響した。 ユニバーサル・コーポレーションは引き続きCOVID-19の影響を慎重に監視しつつ、今後の売上高が年度後半に集中すると予測している。同時に、同社はタバコ以外の事業にも投資を行い、長期的な株主価値の向上を目指す方針だと述べている。
Spanish News:
Universal Corporation ha anunciado los resultados del primer trimestre que finalizó el 30 de junio de 2020. Para el primer trimestre, la empresa anunció que las ventas fueron de 315,811 millones de dólares frente a los 296,915 millones de dólares de hace un año. Los ingresos de explotación fueron de 8,528 millones de dólares, frente a los 7,514 millones de dólares de hace un año. Los ingresos netos fueron de 7,274 millones de dólares, frente a los 2,072 millones de dólares de hace un año. El beneficio básico por acción de las operaciones continuadas fue de 0,3 dólares, frente a los 0,08 dólares de hace un año. El beneficio diluido por acción de las operaciones continuas fue de 0,29 dólares, frente a los 0,08 dólares de hace un año. Mr. Freeman stated, "Our fiscal year 2021 is off to a slow but respectable start as nearly all of our origins continue to make good progress moving through their various tobacco growing and processing activities. The first fiscal quarter is generally the weakest of our fiscal year given seasonal timing. This fiscal year, as a result of the COVID-19 pandemic ("COVID"), we are also experiencing later openings of the tobacco buying seasons and slower processing due to social distancing and other local government safety requirements. We have also had some slower receipts of customer shipping instructions and orders. However, to date we have not seen a material impact to our supply chain or seasonal planting or harvesting requirements. "Despite COVID related slowdowns, tobacco volumes in the first quarter of fiscal year 2021 exceeded those of the first quarter of fiscal year 2020. Volumes shipped out of Brazil in the quarter ended June 30, 2020, included inventory that had been uncommitted at March 31, 2020, reducing our overall uncommitted inventory levels. As of June 30, 2020, our uncommitted inventory levels had declined significantly from fiscal year end 2020 levels, and at 20.5%, are now just outside our target range. A large portion of the shipped Brazilian volume, however, was lower margin carryover crop which impacted results for the quarter. Results for the quarter ended June 30, 2020, were also impacted by several non-recurring items, including an adjustment to a contingent consideration for the acquisition of FruitSmart, interest expense associated with a disputed foreign tax matter, and an income tax benefit from issuance of final tax regulations for dividends paid by foreign subsidiaries. "We have seen some reductions in projected global crop sizes for both burley and flue-cured tobaccos for crop year 2020. We believe that these reflect a positive adjustment to market conditions and that burley tobacco remains in a balanced supply position and that flue-cured tobacco is now in a slight oversupply position. We are also continuing to see very strong demand for natural wrapper tobaccos. "We are prudently monitoring COVID developments around the world, and are projecting that our sales volumes for fiscal year 2021 will be weighted to the back half of the fiscal year in part due to COVID related processing slowdowns and later customer mandated shipment timing. We also have experienced some increased volatility in foreign currency rates, which we believe is related to the uncertainties from COVID. "I am very proud of the success we continue to achieve while operating safely in more than 30 countries around the world during a time of unprecedented and disparate challenges. I believe our commitment to strong local management in our key operating areas has enabled us to react quickly and effectively to these new conditions. Our business is also built on relationships. Having these strong relationships with our customers and suppliers has allowed us to make the new remote interactions work well. I am very pleased and thankful for the hard work of our employees and the continued support of our customers, growers, and other partners during these challenging times.
Greek News:
Η Universal Corporation (UVV) κατέγραψε θετικές καθαρές ταμειακές ροές ύψους $ 0,1 εκατομμυρίων από λειτουργικές δραστηριότητες, κατά το τρίμηνο που έληξε στις 30 Ιουνίου 2020, παρουσιάζοντας αξιοσημείωτη βελτίωση σε σχέση με τις ταμειακές εκροές $ 116,7 εκατομμυρίων την αντίστοιχη περίοδο του προηγούμενου έτους. Αυτή η εξέλιξη αποδίδεται κυρίως στη μειωμένη ανάγκη για κεφάλαιο κίνησης, ως αποτέλεσμα της μειωμένης ανάγκης για κεφάλαιο κίνησης που προήλθε από την παγκόσμια επιβράδυνση στις αγορές και την επεξεργασία καλλιεργειών, αλλά και των χαμηλότερων τιμών του ακατέργαστου καπνού. Παρά τις εξωτερικές προκλήσεις, όπως οι εποχιακές αυξήσεις στα αποθέματα καπνού, η μείωση των ταμειακών απαιτήσεων ενίσχυσε τη ρευστότητα της εταιρείας. Σημειώνεται ότι έως και το τέλος του Μαρτίου 2020, η πανδημία δεν είχε ουσιαστικές επιπτώσεις στις βασικές δραστηριότητες της UVV, πέραν των διακυμάνσεων στις αγορές συναλλάγματος. Η διοίκηση της εταιρείας εκτιμά ότι τα διαθέσιμα ταμειακά αποθέματα, οι λειτουργικές ταμειακές ροές και οι υπάρχουσες πηγές ρευστότητας επαρκούν για την κάλυψη των χρηματοδοτικών της αναγκών τουλάχιστον για τους επόμενους δώδεκα μήνες. Ωστόσο, διατηρεί επιφυλάξεις σχετικά με ενδεχόμενες μελλοντικές καθυστερήσεις σε αποστολές και λοιπές αβεβαιότητες που σχετίζονται με την εξέλιξη της πανδημίας, οι οποίες ενδέχεται να επηρεάσουν τη διάρκεια των αναγκών σε κεφάλαιο κίνησης.
Question:
Please list the top three focuses on revenue from news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | Please list the top three focuses on revenue from news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: 1) Brazil inventory sales including uncommitted carryover crop, 2) North America higher carryover crop volumes, 3) FruitSmart acquisition boosting Other Tobacco Operations revenue
Financial Statement Evidence: Other Regions revenue $204.7M (+$2.7M), North America revenue $39.9M (+$12.3M), Other Tobacco Operations revenue $71.2M (+$4.0M) |
UVV_20200805 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 |
|:------------------------------------------------------|:-----------|:------------|:-----------|:------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| | | June 30, | | June 30, | | March 31, | | | | | | |
| | | 2020 | | 2019 | | 2020 | | | | | | |
| | | (Unaudited) | | (Unaudited) | | | | | | | | |
| ASSETS | | | | | | | | | | | | |
| Current assets | | | | | | | | | | | | |
| Cash and cash equivalents | | $ | 100,015 | | | $ | 167,996 | | | $ | 107,430 | |
| Accounts receivable, net | | 222,162 | | | 217,905 | | | 340,711 | | | | |
| Advances to suppliers, net | | 65,221 | | | 80,032 | | | 133,778 | | | | |
| Accounts receivable—unconsolidated affiliates | | 32,827 | | | 63,388 | | | 11,483 | | | | |
| Inventories—at lower of cost or net realizable value: | | | | | | | | | | | | |
| Tobacco | | 858,940 | | | 898,409 | | | 707,298 | | | | |
| Other | | 104,399 | | | 77,654 | | | 99,275 | | | | |
| Prepaid income taxes | | 13,426 | | | 20,985 | | | 12,144 | | | | |
| Other current assets | | 65,675 | | | 75,689 | | | 67,498 | | | | |
| Total current assets | | 1,462,665 | | | 1,602,058 | | | 1,479,617 | | | | |
| | | | | | | | | | | | | |
| Property, plant and equipment | | | | | | | | | | | | |
| Land | | 21,454 | | | 22,785 | | | 21,376 | | | | |
| Buildings | | 258,306 | | | 262,688 | | | 256,488 | | | | |
| Machinery and equipment | | 644,092 | | | 611,209 | | | 634,395 | | | | |
| | | 923,852 | | | 896,682 | | | 912,259 | | | | |
| Less accumulated depreciation | | (608,173 | ) | | (597,257 | ) | | (597,106 | ) | | | |
| | | 315,679 | | | 299,425 | | | 315,153 | | | | |
| Other assets | | | | | | | | | | | | |
| Operating lease right-of-use assets | | 37,576 | | | 34,472 | | | 39,256 | | | | |
| Goodwill and other intangibles, net | | 143,976 | | | 98,029 | | | 144,687 | | | | |
| Investments in unconsolidated affiliates | | 79,198 | | | 80,985 | | | 77,543 | | | | |
| Deferred income taxes | | 23,085 | | | 15,582 | | | 20,954 | | | | |
| Other noncurrent assets | | 44,661 | | | 47,333 | | | 43,711 | | | | |
| | | 328,496 | | | 276,401 | | | 326,151 | | | | |
| | | | | | | | | | | | | |
| Total assets | | $ | 2,106,840 | | | $ | 2,177,884 | | | $ | 2,120,921 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 |
|:-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-----------|:------------|:-----------|:------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| | | June 30, | | June 30, | | March 31, | | | | | | |
| | | 2020 | | 2019 | | 2020 | | | | | | |
| | | (Unaudited) | | (Unaudited) | | | | | | | | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | | | | | | |
| Current liabilities | | | | | | | | | | | | |
| Notes payable and overdrafts | | $ | 92,758 | | | $ | 73,640 | | | $ | 78,033 | |
| Accounts payable and accrued expenses | | 133,621 | | | 179,297 | | | 140,202 | | | | |
| Accounts payable—unconsolidated affiliates | | — | | | 10 | | | 55 | | | | |
| Customer advances and deposits | | 10,575 | | | 4,397 | | | 10,242 | | | | |
| Accrued compensation | | 16,373 | | | 23,084 | | | 23,710 | | | | |
| Income taxes payable | | 2,359 | | | 1,576 | | | 5,334 | | | | |
| Current portion of operating lease liabilities | | 9,914 | | | 8,938 | | | 9,823 | | | | |
| Current portion of long-term debt | | — | | | — | | | — | | | | |
| Total current liabilities | | 265,600 | | | 290,942 | | | 267,399 | | | | |
| | | | | | | | | | | | | |
| Long-term debt | | 368,829 | | | 368,568 | | | 368,764 | | | | |
| Pensions and other postretirement benefits | | 70,473 | | | 59,364 | | | 70,680 | | | | |
| Long-term operating lease liabilities | | 24,040 | | | 23,098 | | | 25,893 | | | | |
| Other long-term liabilities | | 75,130 | | | 52,387 | | | 69,427 | | | | |
| Deferred income taxes | | 24,435 | | | 31,447 | | | 29,474 | | | | |
| Total liabilities | | 828,507 | | | 825,806 | | | 831,637 | | | | |
| | | | | | | | | | | | | |
| Shareholders’ equity | | | | | | | | | | | | |
| Universal Corporation: | | | | | | | | | | | | |
| Preferred stock: | | | | | | | | | | | | |
| Series A Junior Participating Preferred Stock, no par value, 500,000 shares authorized, none issued or outstanding | | — | | | — | | | — | | | | |
| Common stock, no par value, 100,000,000 shares authorized 24,488,964 shares issued and outstanding at June 30, 2020 (24,971,489 at June 30, 2019 and 24,421,835 at March 31, 2020) | | 322,449 | | | 325,515 | | | 321,502 | | | | |
| Retained earnings | | 1,064,927 | | | 1,084,987 | | | 1,076,760 | | | | |
| Accumulated other comprehensive loss | | (151,132 | ) | | (100,161 | ) | | (151,597 | ) | | | |
| Total Universal Corporation shareholders' equity | | 1,236,244 | | | 1,310,341 | | | 1,246,665 | | | | |
| Noncontrolling interests in subsidiaries | | 42,089 | | | 41,737 | | | 42,619 | | | | |
| Total shareholders' equity | | 1,278,333 | | | 1,352,078 | | | 1,289,284 | | | | |
| | | | | | | | | | | | | |
| Total liabilities and shareholders' equity | | $ | 2,106,840 | | | $ | 2,177,884 | | | $ | 2,120,921 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 |
|:--------------------------------------------------------------------------------------|:-----------|:----------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|
| | | | | | | | | |
| | | | | | | | | |
| | | Three Months Ended June 30, | | | | | | |
| | | 2020 | | 2019 | | | | |
| | | (Unaudited) | | | | | | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | | | | | | | | |
| Net income | | $ | 6,900 | | | $ | 895 | |
| Adjustments to reconcile net income to net cash used by operating activities: | | | | | | | | |
| Depreciation and amortization | | 10,105 | | | 9,067 | | | |
| Net provision for losses (recoveries) on advances and guaranteed loans to suppliers | | 57 | | | (165 | ) | | |
| Foreign currency remeasurement (gain) loss, net | | (4,691 | ) | | (1,497 | ) | | |
| Foreign currency exchange contracts | | (13,951 | ) | | 733 | | | |
| Restructuring payments | | (2,937 | ) | | — | | | |
| Change in estimated fair value of contingent consideration for FruitSmart acquisition | | (4,173 | ) | | — | | | |
| Other, net | | (3,350 | ) | | 3,047 | | | |
| Changes in operating assets and liabilities, net | | 12,087 | | | (128,819 | ) | | |
| Net cash provided (used) by operating activities | | 47 | | | (116,739 | ) | | |
| | | | | | | | | |
| CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | | |
| Purchase of property, plant and equipment | | (8,386 | ) | | (5,679 | ) | | |
| Proceeds from sale of property, plant and equipment | | 218 | | | 226 | | | |
| Net cash used by investing activities | | (8,168 | ) | | (5,453 | ) | | |
| | | | | | | | | |
| CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | |
| Issuance of short-term debt, net | | 20,688 | | | 19,257 | | | |
| Repurchase of common stock | | — | | | (5,214 | ) | | |
| Dividends paid on common stock | | (18,567 | ) | | (18,742 | ) | | |
| Other | | (1,930 | ) | | (2,883 | ) | | |
| Net cash provided (used) by financing activities | | 191 | | | (7,582 | ) | | |
| | | | | | | | | |
| Effect of exchange rate changes on cash | | 515 | | | 214 | | | |
| Net decrease in cash and cash equivalents | | (7,415 | ) | | (129,560 | ) | | |
| Cash and cash equivalents at beginning of year | | 107,430 | | | 297,556 | | | |
| | | | | | | | | |
| Cash and cash equivalents at end of period | | $ | 100,015 | | | $ | 167,996 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 |
|:----------------------------------------------------------------------------------|:-----------|:----------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|
| | | | | | | | | |
| | | | | | | | | |
| | | Three Months Ended June 30, | | | | | | |
| | | 2020 | | 2019 | | | | |
| | | (Unaudited) | | | | | | |
| Sales and other operating revenues | | $ | 315,811 | | | $ | 296,915 | |
| Costs and expenses | | | | | | | | |
| Cost of goods sold | | 262,046 | | | 238,265 | | | |
| Selling, general and administrative expenses | | 49,410 | | | 51,136 | | | |
| Other income | | (4,173 | ) | | — | | | |
| Operating income | | 8,528 | | | 7,514 | | | |
| Equity in pretax earnings (loss) of unconsolidated affiliates | | (7 | ) | | 40 | | | |
| Other non-operating income (expense) | | (18 | ) | | 627 | | | |
| Interest income | | 159 | | | 1,008 | | | |
| Interest expense | | 6,810 | | | 4,028 | | | |
| Income before income taxes and other items | | 1,852 | | | 5,161 | | | |
| Income taxes | | (5,048 | ) | | 4,266 | | | |
| Net income | | 6,900 | | | 895 | | | |
| Less: net loss (income) attributable to noncontrolling interests in subsidiaries | | 374 | | | 1,177 | | | |
| Net income attributable to Universal Corporation | | $ | 7,274 | | | $ | 2,072 | |
| | | | | | | | | |
| Earnings per share: | | | | | | | | |
| Basic | | $ | 0.30 | | | $ | 0.08 | |
| Diluted | | $ | 0.29 | | | $ | 0.08 | |
| | | | | | | | | |
| Weighted average common shares outstanding: | | | | | | | | |
| Basic | | 24,602,610 | | | 25,158,369 | | | |
| Diluted | | 24,703,579 | | | 25,284,258 | | | |
| | | | | | | | | |
| Total comprehensive income, net of income taxes | | $ | 7,209 | | | $ | (3,452 | ) |
| Less: comprehensive income attributable to noncontrolling interests | | 530 | | | 1,054 | | | |
| Comprehensive income (loss) attributable to Universal Corporation | | $ | 7,739 | | | $ | (2,398 | ) |
| | | | | | | | | |
| Dividends declared per common share | | $ | 0.77 | | | $ | 0.76 | |
---
English News:
Universal Corporation Reports First Quarter Results RICHMOND Va Aug 5 2020 PRNewswire George C Freeman III Chairman President and Chief Executive Officer of Universal Corporation NYSE UVV reported net income of 7.3 million or 0.29 per diluted share for the first quarter of fiscal year 2021 which ended on June 30 2020. Those results were up 5.2 million compared with net income of 2.1 million or 0.08 per diluted share for the first quarter of fiscal year 2020. Excluding certain non recurring items detailed in Other Items below net income and diluted earnings per share declined by 4.3 million and 0.17 respectively for the quarter ended June 30 2020 compared to the quarter ended June 30 2019. Operating income of 8.5 million for the quarter ended June 30 2020 increased by 1.0 million compared to operating income of 7.5 million for the quarter ended June 30 2019. Segment operating income was 4.3 million for the first quarter of fiscal year 2021 down 3.2 million compared to the same period last fiscal year mainly as a result of earnings declines in the Other Regions and Other Tobacco Operations segments. Revenues of 315.8 million for the quarter ended June 30 2020 increased by 18.9 million or 6 on higher total sales volumes offset in part by lower sales and leaf prices as well as a less favorable mix. Mr Freeman stated Our fiscal year 2021 is off to a slow but respectable start as nearly all of our origins continue to make good progress moving through their various tobacco growing and processing activities. The first fiscal quarter is generally the weakest of our fiscal year given seasonal timing. This fiscal year as a result of the COVID 19 pandemic COVID we are also experiencing later openings of the tobacco buying seasons and slower processing due to social distancing and other local government safety requirements. We have also had some slower receipts of customer shipping instructions and orders. However to date we have not seen a material impact to our supply chain or seasonal planting or harvesting requirements. Despite COVID related slowdowns tobacco volumes in the first quarter of fiscal year 2021 exceeded those of the first quarter of fiscal year 2020. Volumes shipped out of Brazil in the quarter ended June 30 2020 included inventory that had been uncommitted at March 31 2020 reducing our overall uncommitted inventory levels. As of June 30 2020 our uncommitted inventory levels had declined significantly from fiscal year end 2020 levels and at 20.5 are now just outside our target range. A large portion of the shipped Brazilian volume however was lower margin carryover crop which impacted results for the quarter. Results for the quarter ended June 30 2020 were also impacted by several non recurring items including an adjustment to a contingent consideration for the acquisition of FruitSmart interest expense associated with a disputed foreign tax matter and an income tax benefit from issuance of final tax regulations for dividends paid by foreign subsidiaries. We have seen some reductions in projected global crop sizes for both burley and flue cured tobaccos for crop year 2020. We believe that these reflect a positive adjustment to market conditions and that burley tobacco remains in a balanced supply position and that flue cured tobacco is now in a slight oversupply position. We are also continuing to see very strong demand for natural wrapper tobaccos. We are prudently monitoring COVID developments around the world and are projecting that our sales volumes for fiscal year 2021 will be weighted to the back half of the fiscal year in part due to COVID related processing slowdowns and later customer mandated shipment timing. We also have experienced some increased volatility in foreign currency rates which we believe is related to the uncertainties from COVID. I am very proud of the success we continue to achieve while operating safely in more than 30 countries around the world during a time of unprecedented and disparate challenges. I believe our commitment to strong local management in our key operating areas has enabled us to react quickly and effectively to these new conditions. Our business is also built on relationships. Having these strong relationships with our customers and suppliers has allowed us to make the new remote interactions work well. I am very pleased and thankful for the hard work of our employees and the continued support of our customers growers and other partners during these challenging times. As we move forward in fiscal year 2021 we are focused on keeping our employees safe and running our business efficiently while positioning both our tobacco and non tobacco businesses for future success. As part of our capital allocation strategy we have made and will continue to explore disciplined investments in both tobacco opportunities and non tobacco businesses that we believe will be able to deliver shareholder value. FLUE CURED AND BURLEY LEAF TOBACCO OPERATIONS OTHER REGIONS The Other Regions segment operating loss of 4.3 million for the quarter ended June 30 2020 was 0.5 million greater than the prior years first fiscal quarter operating loss of 3.8 million. Although volumes in Brazil increased in the first quarter of fiscal year 2021 a large portion of the sales consisted of previously uncommitted inventories of lower margin carryover crop tobacco. In addition some volumes in Brazil that were expected to be shipped in the quarter ended June 30 2020 were delayed on limited vessel availability at the port due to COVID. For the first quarter of fiscal year 2021 lower results in Brazil were partially offset by increases in Asia largely due to higher volumes in the Philippines and higher volumes in Africa on carryover crop shipments delayed into the first quarter of fiscal 2021 compared to the same quarter in the prior fiscal year. Selling general and administrative costs for the segment were slightly lower in the quarter ended June 30 2020 as unfavorable foreign remeasurement comparisons mainly in Mozambique were offset by other declines in expenses including lower travel costs compared to the same period in the prior fiscal year. Revenues for the Other Regions segment of 204.7 million for the quarter ended June 30 2020 were up 2.7 million compared to the quarter ended June 30 2019 on higher volumes offset in part by lower sales and leaf prices and processing revenues. NORTH AMERICA Operating income for the North America segment for the quarter ended June 30 2020 of 1.0 million was flat compared to the quarter ended June 30 2019 as higher carryover volumes from the United States and lower expenses in Mexico due to timing offset lower processing volumes in Guatemala in part due to delays resulting from COVID restrictions. Selling general and administrative costs for the North America segment were flat compared to the prior years first fiscal quarter. Revenues for this segment increased by 12.3 million to 39.9 million for the quarter ended June 30 2020 compared to the same period in the prior fiscal year on higher carryover crop volumes at lower sales and leaf prices as well as a more favorable product mix. OTHER TOBACCO OPERATIONS The Other Tobacco Operations segment operating income of 7.6 million for the first quarter of fiscal year 2021 reflected a decrease of 2.9 million compared to operating income of 10.5 million for this segment in the same period last year. Results from our dark tobacco operations were lower on reduced volumes in part due to delays from COVID and lower costs in the prior year. In the quarter ended June 30 2020 results for the oriental joint venture were flat and operating income for the segment benefited from the acquisition in January 2020 of FruitSmart our new fruit and vegetable processing business compared to the same quarter last fiscal year. Selling general and administrative costs for the segment were down compared with the prior years first fiscal quarter mainly due to favorable foreign currency remeasurement comparisons primarily in Indonesia offset in part by the addition of costs for the new FruitSmart business. Revenues for this segment increased by 4.0 million to 71.2 million for the quarter ended June 30 2020 compared to the same period in the prior fiscal year on the addition of our FruitSmart business partially offset by lower dark tobacco sales. OTHER ITEMS Cost of goods sold in the quarter ended June 30 2020 of 262.0 million increased by about 10 compared with the same period last year as a result of higher sales volumes coupled with a less favorable mix. Interest expense for the quarter ended June 30 2020 increased by 2.8 million to 6.8 million compared with the same quarter in the prior year largely on a non recurring interest expense item associated with an uncertain tax matter at a foreign subsidiary. Selling general and administrative costs for the first quarter of fiscal year 2021 decreased by 1.7 million to 49.4 million compared with the same period in the prior year as benefits from positive net foreign currency remeasurement and exchange variances primarily in Indonesia and lower travel costs were offset in part by selling general and administrative costs for the FruitSmart business acquired in in the fourth quarter of fiscal year 2020. The following tables set forth certain non recurring items included in reported results to reconcile adjusted operating income to consolidated operating income and adjusted net income to net income attributable to Universal Corporation Adjusted Operating Income Reconciliation Three Months Ended June 30 in millions 2020 2019 As Reported Consolidated operating income 8528 7514 Fair value adjustment to contingent consideration for FruitSmart acquisition1 4173 Adjusted operating income 4355 7514 Adjusted Net Income and Diluted Earnings Per Share Three Months Ended June 30 in millions and reported net of income taxes 2020 2019 As Reported Net income available to Universal Corporation 7274 2072 Fair value adjustment to contingent consideration for FruitSmart acquisition1 4173 Interest expense related to an uncertain tax matter at a foreign subsidiary 1849 Income tax benefit from dividend withholding tax liability reversal2 4421 Income tax settlement for a foreign subsidiary3 2766 Adjusted Net income available to Universal Corporation 529 4838 As reported Diluted earnings per share 0.29 0.08 As adjusted Diluted earnings per share 0.02 0.19 1 The Company reversed a portion of the contingent consideration liability for the FruitSmart Inc acquisition as a result of forecasted performance metrics that are not expected to meet the required threshold stipulated in the purchase agreement. 2 The Company recognized an income tax benefit for final US tax regulations on certain dividends paid by foreign subsidiaries in a prior fiscal year. 3 During the 1st quarter of fiscal year2020 the Company recognized an income tax settlement charge related to operations at a foreign subsidiary. For the three months ended June30 2020 the Company reported a net tax benefit on pretax earnings of 5.0 million mainly due to a 4.4 million benefit for final tax regulations issued in the quarter regarding the treatment of dividends paid by foreign subsidiaries. Without this benefit income taxes for the quarter ended June 30 2020 would have been a benefit of approximately 0.6 million. For the three months ended June 30 2019 the Companys income tax expense of 4.3 million included a 2.8 million net tax accrual for a tax settlement at a foreign subsidiary. Without the tax settlement charge income taxes for the quarter ended June 30 2019 would have been approximately 1.5 million or a consolidated effective tax rate of approximately 29. COVID 19 Pandemic Impact On March 11 2020 the World Health Organization declared COVID 19 a pandemic. Foreign governmental organizations and governmental organizations in the United States have taken various actions to combat the spread of COVID including imposing stay at home orders and closing non essential businesses and their operations. We continue to closely monitor developments related to the ongoing COVID pandemic and have taken and continue to take steps intended to mitigate the potential risks to us. It is paramount that our employees who operate our businesses are safe and informed. We have assessed and regularly update our existing business continuity plans for our business in the context of this pandemic. For example we have taken precautions with regard to employee and facility hygiene imposed travel limitations on our employees directed certain employee groups to work remotely whenever possible and we continue to assess protocols designed to protect our employees customers and the public. We continue to work with our suppliers to mitigate the impacts to our supply chain due to the ongoing pandemic. To date we have not experienced a material impact to our supply chain. Since March 2020 we have at times experienced increased volatility in foreign currency exchange rates which we believe is in part related to the continued uncertainties from COVID as well as actions taken by governments and central banks in response to COVID. We expect continued volatility in foreign currency exchange rates during fiscal year 2021 though we cannot reasonably estimate the duration or extent of that volatility. We continue to monitor the impacts of COVID which include slower processing of our products due to controlled staffing in our facilities that could lead to later timing of shipments to our customers. We currently have sufficient liquidity to meet our current obligations and business operations remain fundamentally unchanged other than shipping delays which could impact quarterly comparisons. This is however a rapidly evolving situation and we cannot predict the extent or duration of the ongoing COVID pandemic the effects of it on the global national or local economy including the impacts on our ability to access capital or its effects on our business financial position results of operations and cash flows. We continue to monitor developments affecting our employees customers and operations and will take additional steps to address the spread of COVID and its impacts as necessary. Additional information Amounts described as net income loss and earnings loss per diluted share in the previous discussion are attributable to Universal Corporation and exclude earnings related to non controlling interests in subsidiaries. Adjusted operating income loss adjusted net income loss attributable to Universal Corporation adjusted diluted earnings loss per share and the total for segment operating income loss referred to in this discussion are non GAAP financial measures. These measures are not financial measures calculated in accordance with GAAP and should not be considered as substitutes for operating income loss net income loss attributable to Universal Corporation diluted earnings loss per share cash from operating activities or any other operating or financial performance measure calculated in accordance with GAAP and may not be comparable to similarly titled measures reported by other companies. A reconciliation of adjusted operating income loss to consolidated operating income adjusted net income loss attributable to Universal Corporation to consolidated net income loss attributable to Universal Corporation and adjusted diluted earnings loss per share to diluted earnings loss per share are provided in Other Items above. In addition we have provided a reconciliation of the total for segment operating income loss to consolidated operating income loss in Note 3 Operating Segments to the consolidated financial statements. Management evaluates the consolidated Company and segment performance excluding certain significant charges or credits. We believe these non GAAP financial measures which exclude items that we believe are not indicative of our core operating results provide investors with important information that is useful in understanding our business results and trends. This release includes forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company cautions readers that any statements contained herein regarding financial condition results of operation and future business plans operations opportunities and prospects for its performance are forward looking statements based upon managements current knowledge and assumptions about future events and involve risks and uncertainties that could cause actual results performance or achievements to be materially different from any anticipated results prospects performance or achievements expressed or implied by such forward looking statements. Such risks and uncertainties include but are not limited to impacts of the ongoing COVID 19 pandemic integration of FruitSmart and the impact of the FruitSmart acquisition on future results product purchased not meeting quality and quantity requirements reliance on a few large customers its ability to maintain effective information technology systems and safeguard confidential information anticipated levels of demand for and supply of its products and services costs incurred in providing these products and services timing of shipments to customers changes in market structure government regulation product taxation industry consolidation and evolution changes in exchange rates and interest rates impacts of regulation and litigation on its customers industry specific risks related to its food ingredient business exposure to certain regulatory and financial risks related to climate change changes in estimates and assumptions underlying its critical accounting policies the promulgation and adoption of new accounting standards new government regulations and interpretation of existing standards and regulations and general economic political market and weather conditions. Actual results therefore could vary from those expected. A further list and description of these risks uncertainties and other factors can be found in the Companys Annual Report on Form 10 K for the fiscal year ended March 31 2020 and in other documents the Company files with the Securities and Exchange Commission. This information should be read in conjunction with the Annual Report on Form 10 K for the year ended March 31 2020 and the Form 10 Q for the most recently ended fiscal quarter. The Company cautions investors not to place undue reliance on any forward looking statements as these statements speak only as of the date when made and it undertakes no obligation to update any forward looking statements made. At 500 pm Eastern Time on August 5 2020 the Company will host a conference call to discuss these results. Those wishing to listen to the call may do so by visiting www.universalcorp.com at that time. A replay of the webcast will be available at that site through November 5 2020. A taped replay of the call will be available through August 19 2020 by dialing 855 859 2056. The confirmation number to access the replay is 2771816. Universal Corporation NYSE UVV headquartered in Richmond Virginia sources processes and supplies agri products. Tobacco has been our principal focus since our founding in 1918 and we are the leading global leaf tobacco supplier. We conduct business in more than 30 countries on five continents. Our revenues for the fiscal year ended March 31 2020 were 1.9 billion. For more information on Universal Corporation visit our website at www.universalcorp.com.
Chinese News:
近日环球烟草公布财报，公告显示该公司2020财年第一财季归属于母公司普通股股东净利润为727.40万美元，同比增长251.06%；营业收入为3.16亿美元，同比上涨6.36%。Universal Corporation是一家领先的烟叶烟草供应商。它在5大洲超过30个国家都有业务。自其1918年建立后烟草业就成了其主要业务。它业务的最大部分就是为消费性烟草产品生产商收集处理烤烟和白肋烟叶。该公司两种烟的业务部门主要在 北美和其它地区。它还有第三个业务部门，即它的东方烟草合资企业以及一些与烟草有关的服务。
Japanese News:
米国大手葉タバコ供給企業であるユニバーサル・コーポレーション（NYSE: UVV）は2020年8月5日（現地時間）、2021会計年度第1四半期（2020年4月〜6月期）の業績を発表した。同期の売上高は前年同期比6.36％増の3億1581万ドル、営業利益は同13.50％増の852万8000ドル、純利益は前年同期の207万2000ドルから727万4000ドルへと大幅な増益を記録した。 1株当たり利益（EPS）は基本ベースで0.30ドル（前年同期0.08ドル）、希薄化後ベースで0.29ドル（前年同期0.08ドル）となった。 ユニバーサル・コーポレーションのジョージ・C・フリーマン3世CEOは、「2021会計年度のスタートは比較的ゆるやかだったが、COVID-19（新型コロナウイルス感染症）による影響を受けながらも、主要産地ではタバコ葉の栽培と加工が順調に進展している。第1四半期は季節的要因で例年最も業績が弱い期間だが、今期はCOVID-19対策によるソーシャルディスタンス措置等で、タバコの買い付け時期が遅れ、加工プロセスも一部遅延した。しかし、サプライチェーンや季節的な栽培・収穫には大きな影響を受けていない」とコメントした。 同氏によると、第1四半期はブラジルからの在庫出荷が増加し、未契約在庫の削減に成功したものの、出荷した在庫の多くが利益率の低い繰越在庫だったため、収益に一定の影響を及ぼした。また、非経常項目としてFruitSmart買収に関連する条件付対価の調整、海外子会社の税務問題に関連する利息費用、および海外子会社の配当に関する最終的な税務規制の発行による所得税恩恵などが業績に影響した。 ユニバーサル・コーポレーションは引き続きCOVID-19の影響を慎重に監視しつつ、今後の売上高が年度後半に集中すると予測している。同時に、同社はタバコ以外の事業にも投資を行い、長期的な株主価値の向上を目指す方針だと述べている。
Spanish News:
Universal Corporation ha anunciado los resultados del primer trimestre que finalizó el 30 de junio de 2020. Para el primer trimestre, la empresa anunció que las ventas fueron de 315,811 millones de dólares frente a los 296,915 millones de dólares de hace un año. Los ingresos de explotación fueron de 8,528 millones de dólares, frente a los 7,514 millones de dólares de hace un año. Los ingresos netos fueron de 7,274 millones de dólares, frente a los 2,072 millones de dólares de hace un año. El beneficio básico por acción de las operaciones continuadas fue de 0,3 dólares, frente a los 0,08 dólares de hace un año. El beneficio diluido por acción de las operaciones continuas fue de 0,29 dólares, frente a los 0,08 dólares de hace un año. Mr. Freeman stated, "Our fiscal year 2021 is off to a slow but respectable start as nearly all of our origins continue to make good progress moving through their various tobacco growing and processing activities. The first fiscal quarter is generally the weakest of our fiscal year given seasonal timing. This fiscal year, as a result of the COVID-19 pandemic ("COVID"), we are also experiencing later openings of the tobacco buying seasons and slower processing due to social distancing and other local government safety requirements. We have also had some slower receipts of customer shipping instructions and orders. However, to date we have not seen a material impact to our supply chain or seasonal planting or harvesting requirements. "Despite COVID related slowdowns, tobacco volumes in the first quarter of fiscal year 2021 exceeded those of the first quarter of fiscal year 2020. Volumes shipped out of Brazil in the quarter ended June 30, 2020, included inventory that had been uncommitted at March 31, 2020, reducing our overall uncommitted inventory levels. As of June 30, 2020, our uncommitted inventory levels had declined significantly from fiscal year end 2020 levels, and at 20.5%, are now just outside our target range. A large portion of the shipped Brazilian volume, however, was lower margin carryover crop which impacted results for the quarter. Results for the quarter ended June 30, 2020, were also impacted by several non-recurring items, including an adjustment to a contingent consideration for the acquisition of FruitSmart, interest expense associated with a disputed foreign tax matter, and an income tax benefit from issuance of final tax regulations for dividends paid by foreign subsidiaries. "We have seen some reductions in projected global crop sizes for both burley and flue-cured tobaccos for crop year 2020. We believe that these reflect a positive adjustment to market conditions and that burley tobacco remains in a balanced supply position and that flue-cured tobacco is now in a slight oversupply position. We are also continuing to see very strong demand for natural wrapper tobaccos. "We are prudently monitoring COVID developments around the world, and are projecting that our sales volumes for fiscal year 2021 will be weighted to the back half of the fiscal year in part due to COVID related processing slowdowns and later customer mandated shipment timing. We also have experienced some increased volatility in foreign currency rates, which we believe is related to the uncertainties from COVID. "I am very proud of the success we continue to achieve while operating safely in more than 30 countries around the world during a time of unprecedented and disparate challenges. I believe our commitment to strong local management in our key operating areas has enabled us to react quickly and effectively to these new conditions. Our business is also built on relationships. Having these strong relationships with our customers and suppliers has allowed us to make the new remote interactions work well. I am very pleased and thankful for the hard work of our employees and the continued support of our customers, growers, and other partners during these challenging times.
Greek News:
Η Universal Corporation (UVV) κατέγραψε θετικές καθαρές ταμειακές ροές ύψους $ 0,1 εκατομμυρίων από λειτουργικές δραστηριότητες, κατά το τρίμηνο που έληξε στις 30 Ιουνίου 2020, παρουσιάζοντας αξιοσημείωτη βελτίωση σε σχέση με τις ταμειακές εκροές $ 116,7 εκατομμυρίων την αντίστοιχη περίοδο του προηγούμενου έτους. Αυτή η εξέλιξη αποδίδεται κυρίως στη μειωμένη ανάγκη για κεφάλαιο κίνησης, ως αποτέλεσμα της μειωμένης ανάγκης για κεφάλαιο κίνησης που προήλθε από την παγκόσμια επιβράδυνση στις αγορές και την επεξεργασία καλλιεργειών, αλλά και των χαμηλότερων τιμών του ακατέργαστου καπνού. Παρά τις εξωτερικές προκλήσεις, όπως οι εποχιακές αυξήσεις στα αποθέματα καπνού, η μείωση των ταμειακών απαιτήσεων ενίσχυσε τη ρευστότητα της εταιρείας. Σημειώνεται ότι έως και το τέλος του Μαρτίου 2020, η πανδημία δεν είχε ουσιαστικές επιπτώσεις στις βασικές δραστηριότητες της UVV, πέραν των διακυμάνσεων στις αγορές συναλλάγματος. Η διοίκηση της εταιρείας εκτιμά ότι τα διαθέσιμα ταμειακά αποθέματα, οι λειτουργικές ταμειακές ροές και οι υπάρχουσες πηγές ρευστότητας επαρκούν για την κάλυψη των χρηματοδοτικών της αναγκών τουλάχιστον για τους επόμενους δώδεκα μήνες. Ωστόσο, διατηρεί επιφυλάξεις σχετικά με ενδεχόμενες μελλοντικές καθυστερήσεις σε αποστολές και λοιπές αβεβαιότητες που σχετίζονται με την εξέλιξη της πανδημίας, οι οποίες ενδέχεται να επηρεάσουν τη διάρκεια των αναγκών σε κεφάλαιο κίνησης.
Question:
How is the company allocating capital (e.g., investments, share repurchases, dividends) based on its performance and market outlook from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | How is the company allocating capital (e.g., investments, share repurchases, dividends) based on its performance and market outlook from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: Company continues dividend payments, exploring investments in tobacco opportunities and non-tobacco businesses, acquired FruitSmart in January 2020, no share repurchases in Q1 2020 versus $5.2M prior year
Financial Statement Evidence: "Dividends paid on common stock (18,567)", "Repurchase of common stock —", "Purchase of property, plant and equipment (8,386)" |
UVV_20200805 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 |
|:------------------------------------------------------|:-----------|:------------|:-----------|:------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| | | June 30, | | June 30, | | March 31, | | | | | | |
| | | 2020 | | 2019 | | 2020 | | | | | | |
| | | (Unaudited) | | (Unaudited) | | | | | | | | |
| ASSETS | | | | | | | | | | | | |
| Current assets | | | | | | | | | | | | |
| Cash and cash equivalents | | $ | 100,015 | | | $ | 167,996 | | | $ | 107,430 | |
| Accounts receivable, net | | 222,162 | | | 217,905 | | | 340,711 | | | | |
| Advances to suppliers, net | | 65,221 | | | 80,032 | | | 133,778 | | | | |
| Accounts receivable—unconsolidated affiliates | | 32,827 | | | 63,388 | | | 11,483 | | | | |
| Inventories—at lower of cost or net realizable value: | | | | | | | | | | | | |
| Tobacco | | 858,940 | | | 898,409 | | | 707,298 | | | | |
| Other | | 104,399 | | | 77,654 | | | 99,275 | | | | |
| Prepaid income taxes | | 13,426 | | | 20,985 | | | 12,144 | | | | |
| Other current assets | | 65,675 | | | 75,689 | | | 67,498 | | | | |
| Total current assets | | 1,462,665 | | | 1,602,058 | | | 1,479,617 | | | | |
| | | | | | | | | | | | | |
| Property, plant and equipment | | | | | | | | | | | | |
| Land | | 21,454 | | | 22,785 | | | 21,376 | | | | |
| Buildings | | 258,306 | | | 262,688 | | | 256,488 | | | | |
| Machinery and equipment | | 644,092 | | | 611,209 | | | 634,395 | | | | |
| | | 923,852 | | | 896,682 | | | 912,259 | | | | |
| Less accumulated depreciation | | (608,173 | ) | | (597,257 | ) | | (597,106 | ) | | | |
| | | 315,679 | | | 299,425 | | | 315,153 | | | | |
| Other assets | | | | | | | | | | | | |
| Operating lease right-of-use assets | | 37,576 | | | 34,472 | | | 39,256 | | | | |
| Goodwill and other intangibles, net | | 143,976 | | | 98,029 | | | 144,687 | | | | |
| Investments in unconsolidated affiliates | | 79,198 | | | 80,985 | | | 77,543 | | | | |
| Deferred income taxes | | 23,085 | | | 15,582 | | | 20,954 | | | | |
| Other noncurrent assets | | 44,661 | | | 47,333 | | | 43,711 | | | | |
| | | 328,496 | | | 276,401 | | | 326,151 | | | | |
| | | | | | | | | | | | | |
| Total assets | | $ | 2,106,840 | | | $ | 2,177,884 | | | $ | 2,120,921 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 |
|:-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-----------|:------------|:-----------|:------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| | | June 30, | | June 30, | | March 31, | | | | | | |
| | | 2020 | | 2019 | | 2020 | | | | | | |
| | | (Unaudited) | | (Unaudited) | | | | | | | | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | | | | | | |
| Current liabilities | | | | | | | | | | | | |
| Notes payable and overdrafts | | $ | 92,758 | | | $ | 73,640 | | | $ | 78,033 | |
| Accounts payable and accrued expenses | | 133,621 | | | 179,297 | | | 140,202 | | | | |
| Accounts payable—unconsolidated affiliates | | — | | | 10 | | | 55 | | | | |
| Customer advances and deposits | | 10,575 | | | 4,397 | | | 10,242 | | | | |
| Accrued compensation | | 16,373 | | | 23,084 | | | 23,710 | | | | |
| Income taxes payable | | 2,359 | | | 1,576 | | | 5,334 | | | | |
| Current portion of operating lease liabilities | | 9,914 | | | 8,938 | | | 9,823 | | | | |
| Current portion of long-term debt | | — | | | — | | | — | | | | |
| Total current liabilities | | 265,600 | | | 290,942 | | | 267,399 | | | | |
| | | | | | | | | | | | | |
| Long-term debt | | 368,829 | | | 368,568 | | | 368,764 | | | | |
| Pensions and other postretirement benefits | | 70,473 | | | 59,364 | | | 70,680 | | | | |
| Long-term operating lease liabilities | | 24,040 | | | 23,098 | | | 25,893 | | | | |
| Other long-term liabilities | | 75,130 | | | 52,387 | | | 69,427 | | | | |
| Deferred income taxes | | 24,435 | | | 31,447 | | | 29,474 | | | | |
| Total liabilities | | 828,507 | | | 825,806 | | | 831,637 | | | | |
| | | | | | | | | | | | | |
| Shareholders’ equity | | | | | | | | | | | | |
| Universal Corporation: | | | | | | | | | | | | |
| Preferred stock: | | | | | | | | | | | | |
| Series A Junior Participating Preferred Stock, no par value, 500,000 shares authorized, none issued or outstanding | | — | | | — | | | — | | | | |
| Common stock, no par value, 100,000,000 shares authorized 24,488,964 shares issued and outstanding at June 30, 2020 (24,971,489 at June 30, 2019 and 24,421,835 at March 31, 2020) | | 322,449 | | | 325,515 | | | 321,502 | | | | |
| Retained earnings | | 1,064,927 | | | 1,084,987 | | | 1,076,760 | | | | |
| Accumulated other comprehensive loss | | (151,132 | ) | | (100,161 | ) | | (151,597 | ) | | | |
| Total Universal Corporation shareholders' equity | | 1,236,244 | | | 1,310,341 | | | 1,246,665 | | | | |
| Noncontrolling interests in subsidiaries | | 42,089 | | | 41,737 | | | 42,619 | | | | |
| Total shareholders' equity | | 1,278,333 | | | 1,352,078 | | | 1,289,284 | | | | |
| | | | | | | | | | | | | |
| Total liabilities and shareholders' equity | | $ | 2,106,840 | | | $ | 2,177,884 | | | $ | 2,120,921 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 |
|:--------------------------------------------------------------------------------------|:-----------|:----------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|
| | | | | | | | | |
| | | | | | | | | |
| | | Three Months Ended June 30, | | | | | | |
| | | 2020 | | 2019 | | | | |
| | | (Unaudited) | | | | | | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | | | | | | | | |
| Net income | | $ | 6,900 | | | $ | 895 | |
| Adjustments to reconcile net income to net cash used by operating activities: | | | | | | | | |
| Depreciation and amortization | | 10,105 | | | 9,067 | | | |
| Net provision for losses (recoveries) on advances and guaranteed loans to suppliers | | 57 | | | (165 | ) | | |
| Foreign currency remeasurement (gain) loss, net | | (4,691 | ) | | (1,497 | ) | | |
| Foreign currency exchange contracts | | (13,951 | ) | | 733 | | | |
| Restructuring payments | | (2,937 | ) | | — | | | |
| Change in estimated fair value of contingent consideration for FruitSmart acquisition | | (4,173 | ) | | — | | | |
| Other, net | | (3,350 | ) | | 3,047 | | | |
| Changes in operating assets and liabilities, net | | 12,087 | | | (128,819 | ) | | |
| Net cash provided (used) by operating activities | | 47 | | | (116,739 | ) | | |
| | | | | | | | | |
| CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | | |
| Purchase of property, plant and equipment | | (8,386 | ) | | (5,679 | ) | | |
| Proceeds from sale of property, plant and equipment | | 218 | | | 226 | | | |
| Net cash used by investing activities | | (8,168 | ) | | (5,453 | ) | | |
| | | | | | | | | |
| CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | |
| Issuance of short-term debt, net | | 20,688 | | | 19,257 | | | |
| Repurchase of common stock | | — | | | (5,214 | ) | | |
| Dividends paid on common stock | | (18,567 | ) | | (18,742 | ) | | |
| Other | | (1,930 | ) | | (2,883 | ) | | |
| Net cash provided (used) by financing activities | | 191 | | | (7,582 | ) | | |
| | | | | | | | | |
| Effect of exchange rate changes on cash | | 515 | | | 214 | | | |
| Net decrease in cash and cash equivalents | | (7,415 | ) | | (129,560 | ) | | |
| Cash and cash equivalents at beginning of year | | 107,430 | | | 297,556 | | | |
| | | | | | | | | |
| Cash and cash equivalents at end of period | | $ | 100,015 | | | $ | 167,996 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 |
|:----------------------------------------------------------------------------------|:-----------|:----------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|
| | | | | | | | | |
| | | | | | | | | |
| | | Three Months Ended June 30, | | | | | | |
| | | 2020 | | 2019 | | | | |
| | | (Unaudited) | | | | | | |
| Sales and other operating revenues | | $ | 315,811 | | | $ | 296,915 | |
| Costs and expenses | | | | | | | | |
| Cost of goods sold | | 262,046 | | | 238,265 | | | |
| Selling, general and administrative expenses | | 49,410 | | | 51,136 | | | |
| Other income | | (4,173 | ) | | — | | | |
| Operating income | | 8,528 | | | 7,514 | | | |
| Equity in pretax earnings (loss) of unconsolidated affiliates | | (7 | ) | | 40 | | | |
| Other non-operating income (expense) | | (18 | ) | | 627 | | | |
| Interest income | | 159 | | | 1,008 | | | |
| Interest expense | | 6,810 | | | 4,028 | | | |
| Income before income taxes and other items | | 1,852 | | | 5,161 | | | |
| Income taxes | | (5,048 | ) | | 4,266 | | | |
| Net income | | 6,900 | | | 895 | | | |
| Less: net loss (income) attributable to noncontrolling interests in subsidiaries | | 374 | | | 1,177 | | | |
| Net income attributable to Universal Corporation | | $ | 7,274 | | | $ | 2,072 | |
| | | | | | | | | |
| Earnings per share: | | | | | | | | |
| Basic | | $ | 0.30 | | | $ | 0.08 | |
| Diluted | | $ | 0.29 | | | $ | 0.08 | |
| | | | | | | | | |
| Weighted average common shares outstanding: | | | | | | | | |
| Basic | | 24,602,610 | | | 25,158,369 | | | |
| Diluted | | 24,703,579 | | | 25,284,258 | | | |
| | | | | | | | | |
| Total comprehensive income, net of income taxes | | $ | 7,209 | | | $ | (3,452 | ) |
| Less: comprehensive income attributable to noncontrolling interests | | 530 | | | 1,054 | | | |
| Comprehensive income (loss) attributable to Universal Corporation | | $ | 7,739 | | | $ | (2,398 | ) |
| | | | | | | | | |
| Dividends declared per common share | | $ | 0.77 | | | $ | 0.76 | |
---
English News:
Universal Corporation Reports First Quarter Results RICHMOND Va Aug 5 2020 PRNewswire George C Freeman III Chairman President and Chief Executive Officer of Universal Corporation NYSE UVV reported net income of 7.3 million or 0.29 per diluted share for the first quarter of fiscal year 2021 which ended on June 30 2020. Those results were up 5.2 million compared with net income of 2.1 million or 0.08 per diluted share for the first quarter of fiscal year 2020. Excluding certain non recurring items detailed in Other Items below net income and diluted earnings per share declined by 4.3 million and 0.17 respectively for the quarter ended June 30 2020 compared to the quarter ended June 30 2019. Operating income of 8.5 million for the quarter ended June 30 2020 increased by 1.0 million compared to operating income of 7.5 million for the quarter ended June 30 2019. Segment operating income was 4.3 million for the first quarter of fiscal year 2021 down 3.2 million compared to the same period last fiscal year mainly as a result of earnings declines in the Other Regions and Other Tobacco Operations segments. Revenues of 315.8 million for the quarter ended June 30 2020 increased by 18.9 million or 6 on higher total sales volumes offset in part by lower sales and leaf prices as well as a less favorable mix. Mr Freeman stated Our fiscal year 2021 is off to a slow but respectable start as nearly all of our origins continue to make good progress moving through their various tobacco growing and processing activities. The first fiscal quarter is generally the weakest of our fiscal year given seasonal timing. This fiscal year as a result of the COVID 19 pandemic COVID we are also experiencing later openings of the tobacco buying seasons and slower processing due to social distancing and other local government safety requirements. We have also had some slower receipts of customer shipping instructions and orders. However to date we have not seen a material impact to our supply chain or seasonal planting or harvesting requirements. Despite COVID related slowdowns tobacco volumes in the first quarter of fiscal year 2021 exceeded those of the first quarter of fiscal year 2020. Volumes shipped out of Brazil in the quarter ended June 30 2020 included inventory that had been uncommitted at March 31 2020 reducing our overall uncommitted inventory levels. As of June 30 2020 our uncommitted inventory levels had declined significantly from fiscal year end 2020 levels and at 20.5 are now just outside our target range. A large portion of the shipped Brazilian volume however was lower margin carryover crop which impacted results for the quarter. Results for the quarter ended June 30 2020 were also impacted by several non recurring items including an adjustment to a contingent consideration for the acquisition of FruitSmart interest expense associated with a disputed foreign tax matter and an income tax benefit from issuance of final tax regulations for dividends paid by foreign subsidiaries. We have seen some reductions in projected global crop sizes for both burley and flue cured tobaccos for crop year 2020. We believe that these reflect a positive adjustment to market conditions and that burley tobacco remains in a balanced supply position and that flue cured tobacco is now in a slight oversupply position. We are also continuing to see very strong demand for natural wrapper tobaccos. We are prudently monitoring COVID developments around the world and are projecting that our sales volumes for fiscal year 2021 will be weighted to the back half of the fiscal year in part due to COVID related processing slowdowns and later customer mandated shipment timing. We also have experienced some increased volatility in foreign currency rates which we believe is related to the uncertainties from COVID. I am very proud of the success we continue to achieve while operating safely in more than 30 countries around the world during a time of unprecedented and disparate challenges. I believe our commitment to strong local management in our key operating areas has enabled us to react quickly and effectively to these new conditions. Our business is also built on relationships. Having these strong relationships with our customers and suppliers has allowed us to make the new remote interactions work well. I am very pleased and thankful for the hard work of our employees and the continued support of our customers growers and other partners during these challenging times. As we move forward in fiscal year 2021 we are focused on keeping our employees safe and running our business efficiently while positioning both our tobacco and non tobacco businesses for future success. As part of our capital allocation strategy we have made and will continue to explore disciplined investments in both tobacco opportunities and non tobacco businesses that we believe will be able to deliver shareholder value. FLUE CURED AND BURLEY LEAF TOBACCO OPERATIONS OTHER REGIONS The Other Regions segment operating loss of 4.3 million for the quarter ended June 30 2020 was 0.5 million greater than the prior years first fiscal quarter operating loss of 3.8 million. Although volumes in Brazil increased in the first quarter of fiscal year 2021 a large portion of the sales consisted of previously uncommitted inventories of lower margin carryover crop tobacco. In addition some volumes in Brazil that were expected to be shipped in the quarter ended June 30 2020 were delayed on limited vessel availability at the port due to COVID. For the first quarter of fiscal year 2021 lower results in Brazil were partially offset by increases in Asia largely due to higher volumes in the Philippines and higher volumes in Africa on carryover crop shipments delayed into the first quarter of fiscal 2021 compared to the same quarter in the prior fiscal year. Selling general and administrative costs for the segment were slightly lower in the quarter ended June 30 2020 as unfavorable foreign remeasurement comparisons mainly in Mozambique were offset by other declines in expenses including lower travel costs compared to the same period in the prior fiscal year. Revenues for the Other Regions segment of 204.7 million for the quarter ended June 30 2020 were up 2.7 million compared to the quarter ended June 30 2019 on higher volumes offset in part by lower sales and leaf prices and processing revenues. NORTH AMERICA Operating income for the North America segment for the quarter ended June 30 2020 of 1.0 million was flat compared to the quarter ended June 30 2019 as higher carryover volumes from the United States and lower expenses in Mexico due to timing offset lower processing volumes in Guatemala in part due to delays resulting from COVID restrictions. Selling general and administrative costs for the North America segment were flat compared to the prior years first fiscal quarter. Revenues for this segment increased by 12.3 million to 39.9 million for the quarter ended June 30 2020 compared to the same period in the prior fiscal year on higher carryover crop volumes at lower sales and leaf prices as well as a more favorable product mix. OTHER TOBACCO OPERATIONS The Other Tobacco Operations segment operating income of 7.6 million for the first quarter of fiscal year 2021 reflected a decrease of 2.9 million compared to operating income of 10.5 million for this segment in the same period last year. Results from our dark tobacco operations were lower on reduced volumes in part due to delays from COVID and lower costs in the prior year. In the quarter ended June 30 2020 results for the oriental joint venture were flat and operating income for the segment benefited from the acquisition in January 2020 of FruitSmart our new fruit and vegetable processing business compared to the same quarter last fiscal year. Selling general and administrative costs for the segment were down compared with the prior years first fiscal quarter mainly due to favorable foreign currency remeasurement comparisons primarily in Indonesia offset in part by the addition of costs for the new FruitSmart business. Revenues for this segment increased by 4.0 million to 71.2 million for the quarter ended June 30 2020 compared to the same period in the prior fiscal year on the addition of our FruitSmart business partially offset by lower dark tobacco sales. OTHER ITEMS Cost of goods sold in the quarter ended June 30 2020 of 262.0 million increased by about 10 compared with the same period last year as a result of higher sales volumes coupled with a less favorable mix. Interest expense for the quarter ended June 30 2020 increased by 2.8 million to 6.8 million compared with the same quarter in the prior year largely on a non recurring interest expense item associated with an uncertain tax matter at a foreign subsidiary. Selling general and administrative costs for the first quarter of fiscal year 2021 decreased by 1.7 million to 49.4 million compared with the same period in the prior year as benefits from positive net foreign currency remeasurement and exchange variances primarily in Indonesia and lower travel costs were offset in part by selling general and administrative costs for the FruitSmart business acquired in in the fourth quarter of fiscal year 2020. The following tables set forth certain non recurring items included in reported results to reconcile adjusted operating income to consolidated operating income and adjusted net income to net income attributable to Universal Corporation Adjusted Operating Income Reconciliation Three Months Ended June 30 in millions 2020 2019 As Reported Consolidated operating income 8528 7514 Fair value adjustment to contingent consideration for FruitSmart acquisition1 4173 Adjusted operating income 4355 7514 Adjusted Net Income and Diluted Earnings Per Share Three Months Ended June 30 in millions and reported net of income taxes 2020 2019 As Reported Net income available to Universal Corporation 7274 2072 Fair value adjustment to contingent consideration for FruitSmart acquisition1 4173 Interest expense related to an uncertain tax matter at a foreign subsidiary 1849 Income tax benefit from dividend withholding tax liability reversal2 4421 Income tax settlement for a foreign subsidiary3 2766 Adjusted Net income available to Universal Corporation 529 4838 As reported Diluted earnings per share 0.29 0.08 As adjusted Diluted earnings per share 0.02 0.19 1 The Company reversed a portion of the contingent consideration liability for the FruitSmart Inc acquisition as a result of forecasted performance metrics that are not expected to meet the required threshold stipulated in the purchase agreement. 2 The Company recognized an income tax benefit for final US tax regulations on certain dividends paid by foreign subsidiaries in a prior fiscal year. 3 During the 1st quarter of fiscal year2020 the Company recognized an income tax settlement charge related to operations at a foreign subsidiary. For the three months ended June30 2020 the Company reported a net tax benefit on pretax earnings of 5.0 million mainly due to a 4.4 million benefit for final tax regulations issued in the quarter regarding the treatment of dividends paid by foreign subsidiaries. Without this benefit income taxes for the quarter ended June 30 2020 would have been a benefit of approximately 0.6 million. For the three months ended June 30 2019 the Companys income tax expense of 4.3 million included a 2.8 million net tax accrual for a tax settlement at a foreign subsidiary. Without the tax settlement charge income taxes for the quarter ended June 30 2019 would have been approximately 1.5 million or a consolidated effective tax rate of approximately 29. COVID 19 Pandemic Impact On March 11 2020 the World Health Organization declared COVID 19 a pandemic. Foreign governmental organizations and governmental organizations in the United States have taken various actions to combat the spread of COVID including imposing stay at home orders and closing non essential businesses and their operations. We continue to closely monitor developments related to the ongoing COVID pandemic and have taken and continue to take steps intended to mitigate the potential risks to us. It is paramount that our employees who operate our businesses are safe and informed. We have assessed and regularly update our existing business continuity plans for our business in the context of this pandemic. For example we have taken precautions with regard to employee and facility hygiene imposed travel limitations on our employees directed certain employee groups to work remotely whenever possible and we continue to assess protocols designed to protect our employees customers and the public. We continue to work with our suppliers to mitigate the impacts to our supply chain due to the ongoing pandemic. To date we have not experienced a material impact to our supply chain. Since March 2020 we have at times experienced increased volatility in foreign currency exchange rates which we believe is in part related to the continued uncertainties from COVID as well as actions taken by governments and central banks in response to COVID. We expect continued volatility in foreign currency exchange rates during fiscal year 2021 though we cannot reasonably estimate the duration or extent of that volatility. We continue to monitor the impacts of COVID which include slower processing of our products due to controlled staffing in our facilities that could lead to later timing of shipments to our customers. We currently have sufficient liquidity to meet our current obligations and business operations remain fundamentally unchanged other than shipping delays which could impact quarterly comparisons. This is however a rapidly evolving situation and we cannot predict the extent or duration of the ongoing COVID pandemic the effects of it on the global national or local economy including the impacts on our ability to access capital or its effects on our business financial position results of operations and cash flows. We continue to monitor developments affecting our employees customers and operations and will take additional steps to address the spread of COVID and its impacts as necessary. Additional information Amounts described as net income loss and earnings loss per diluted share in the previous discussion are attributable to Universal Corporation and exclude earnings related to non controlling interests in subsidiaries. Adjusted operating income loss adjusted net income loss attributable to Universal Corporation adjusted diluted earnings loss per share and the total for segment operating income loss referred to in this discussion are non GAAP financial measures. These measures are not financial measures calculated in accordance with GAAP and should not be considered as substitutes for operating income loss net income loss attributable to Universal Corporation diluted earnings loss per share cash from operating activities or any other operating or financial performance measure calculated in accordance with GAAP and may not be comparable to similarly titled measures reported by other companies. A reconciliation of adjusted operating income loss to consolidated operating income adjusted net income loss attributable to Universal Corporation to consolidated net income loss attributable to Universal Corporation and adjusted diluted earnings loss per share to diluted earnings loss per share are provided in Other Items above. In addition we have provided a reconciliation of the total for segment operating income loss to consolidated operating income loss in Note 3 Operating Segments to the consolidated financial statements. Management evaluates the consolidated Company and segment performance excluding certain significant charges or credits. We believe these non GAAP financial measures which exclude items that we believe are not indicative of our core operating results provide investors with important information that is useful in understanding our business results and trends. This release includes forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company cautions readers that any statements contained herein regarding financial condition results of operation and future business plans operations opportunities and prospects for its performance are forward looking statements based upon managements current knowledge and assumptions about future events and involve risks and uncertainties that could cause actual results performance or achievements to be materially different from any anticipated results prospects performance or achievements expressed or implied by such forward looking statements. Such risks and uncertainties include but are not limited to impacts of the ongoing COVID 19 pandemic integration of FruitSmart and the impact of the FruitSmart acquisition on future results product purchased not meeting quality and quantity requirements reliance on a few large customers its ability to maintain effective information technology systems and safeguard confidential information anticipated levels of demand for and supply of its products and services costs incurred in providing these products and services timing of shipments to customers changes in market structure government regulation product taxation industry consolidation and evolution changes in exchange rates and interest rates impacts of regulation and litigation on its customers industry specific risks related to its food ingredient business exposure to certain regulatory and financial risks related to climate change changes in estimates and assumptions underlying its critical accounting policies the promulgation and adoption of new accounting standards new government regulations and interpretation of existing standards and regulations and general economic political market and weather conditions. Actual results therefore could vary from those expected. A further list and description of these risks uncertainties and other factors can be found in the Companys Annual Report on Form 10 K for the fiscal year ended March 31 2020 and in other documents the Company files with the Securities and Exchange Commission. This information should be read in conjunction with the Annual Report on Form 10 K for the year ended March 31 2020 and the Form 10 Q for the most recently ended fiscal quarter. The Company cautions investors not to place undue reliance on any forward looking statements as these statements speak only as of the date when made and it undertakes no obligation to update any forward looking statements made. At 500 pm Eastern Time on August 5 2020 the Company will host a conference call to discuss these results. Those wishing to listen to the call may do so by visiting www.universalcorp.com at that time. A replay of the webcast will be available at that site through November 5 2020. A taped replay of the call will be available through August 19 2020 by dialing 855 859 2056. The confirmation number to access the replay is 2771816. Universal Corporation NYSE UVV headquartered in Richmond Virginia sources processes and supplies agri products. Tobacco has been our principal focus since our founding in 1918 and we are the leading global leaf tobacco supplier. We conduct business in more than 30 countries on five continents. Our revenues for the fiscal year ended March 31 2020 were 1.9 billion. For more information on Universal Corporation visit our website at www.universalcorp.com.
Chinese News:
近日环球烟草公布财报，公告显示该公司2020财年第一财季归属于母公司普通股股东净利润为727.40万美元，同比增长251.06%；营业收入为3.16亿美元，同比上涨6.36%。Universal Corporation是一家领先的烟叶烟草供应商。它在5大洲超过30个国家都有业务。自其1918年建立后烟草业就成了其主要业务。它业务的最大部分就是为消费性烟草产品生产商收集处理烤烟和白肋烟叶。该公司两种烟的业务部门主要在 北美和其它地区。它还有第三个业务部门，即它的东方烟草合资企业以及一些与烟草有关的服务。
Japanese News:
米国大手葉タバコ供給企業であるユニバーサル・コーポレーション（NYSE: UVV）は2020年8月5日（現地時間）、2021会計年度第1四半期（2020年4月〜6月期）の業績を発表した。同期の売上高は前年同期比6.36％増の3億1581万ドル、営業利益は同13.50％増の852万8000ドル、純利益は前年同期の207万2000ドルから727万4000ドルへと大幅な増益を記録した。 1株当たり利益（EPS）は基本ベースで0.30ドル（前年同期0.08ドル）、希薄化後ベースで0.29ドル（前年同期0.08ドル）となった。 ユニバーサル・コーポレーションのジョージ・C・フリーマン3世CEOは、「2021会計年度のスタートは比較的ゆるやかだったが、COVID-19（新型コロナウイルス感染症）による影響を受けながらも、主要産地ではタバコ葉の栽培と加工が順調に進展している。第1四半期は季節的要因で例年最も業績が弱い期間だが、今期はCOVID-19対策によるソーシャルディスタンス措置等で、タバコの買い付け時期が遅れ、加工プロセスも一部遅延した。しかし、サプライチェーンや季節的な栽培・収穫には大きな影響を受けていない」とコメントした。 同氏によると、第1四半期はブラジルからの在庫出荷が増加し、未契約在庫の削減に成功したものの、出荷した在庫の多くが利益率の低い繰越在庫だったため、収益に一定の影響を及ぼした。また、非経常項目としてFruitSmart買収に関連する条件付対価の調整、海外子会社の税務問題に関連する利息費用、および海外子会社の配当に関する最終的な税務規制の発行による所得税恩恵などが業績に影響した。 ユニバーサル・コーポレーションは引き続きCOVID-19の影響を慎重に監視しつつ、今後の売上高が年度後半に集中すると予測している。同時に、同社はタバコ以外の事業にも投資を行い、長期的な株主価値の向上を目指す方針だと述べている。
Spanish News:
Universal Corporation ha anunciado los resultados del primer trimestre que finalizó el 30 de junio de 2020. Para el primer trimestre, la empresa anunció que las ventas fueron de 315,811 millones de dólares frente a los 296,915 millones de dólares de hace un año. Los ingresos de explotación fueron de 8,528 millones de dólares, frente a los 7,514 millones de dólares de hace un año. Los ingresos netos fueron de 7,274 millones de dólares, frente a los 2,072 millones de dólares de hace un año. El beneficio básico por acción de las operaciones continuadas fue de 0,3 dólares, frente a los 0,08 dólares de hace un año. El beneficio diluido por acción de las operaciones continuas fue de 0,29 dólares, frente a los 0,08 dólares de hace un año. Mr. Freeman stated, "Our fiscal year 2021 is off to a slow but respectable start as nearly all of our origins continue to make good progress moving through their various tobacco growing and processing activities. The first fiscal quarter is generally the weakest of our fiscal year given seasonal timing. This fiscal year, as a result of the COVID-19 pandemic ("COVID"), we are also experiencing later openings of the tobacco buying seasons and slower processing due to social distancing and other local government safety requirements. We have also had some slower receipts of customer shipping instructions and orders. However, to date we have not seen a material impact to our supply chain or seasonal planting or harvesting requirements. "Despite COVID related slowdowns, tobacco volumes in the first quarter of fiscal year 2021 exceeded those of the first quarter of fiscal year 2020. Volumes shipped out of Brazil in the quarter ended June 30, 2020, included inventory that had been uncommitted at March 31, 2020, reducing our overall uncommitted inventory levels. As of June 30, 2020, our uncommitted inventory levels had declined significantly from fiscal year end 2020 levels, and at 20.5%, are now just outside our target range. A large portion of the shipped Brazilian volume, however, was lower margin carryover crop which impacted results for the quarter. Results for the quarter ended June 30, 2020, were also impacted by several non-recurring items, including an adjustment to a contingent consideration for the acquisition of FruitSmart, interest expense associated with a disputed foreign tax matter, and an income tax benefit from issuance of final tax regulations for dividends paid by foreign subsidiaries. "We have seen some reductions in projected global crop sizes for both burley and flue-cured tobaccos for crop year 2020. We believe that these reflect a positive adjustment to market conditions and that burley tobacco remains in a balanced supply position and that flue-cured tobacco is now in a slight oversupply position. We are also continuing to see very strong demand for natural wrapper tobaccos. "We are prudently monitoring COVID developments around the world, and are projecting that our sales volumes for fiscal year 2021 will be weighted to the back half of the fiscal year in part due to COVID related processing slowdowns and later customer mandated shipment timing. We also have experienced some increased volatility in foreign currency rates, which we believe is related to the uncertainties from COVID. "I am very proud of the success we continue to achieve while operating safely in more than 30 countries around the world during a time of unprecedented and disparate challenges. I believe our commitment to strong local management in our key operating areas has enabled us to react quickly and effectively to these new conditions. Our business is also built on relationships. Having these strong relationships with our customers and suppliers has allowed us to make the new remote interactions work well. I am very pleased and thankful for the hard work of our employees and the continued support of our customers, growers, and other partners during these challenging times.
Greek News:
Η Universal Corporation (UVV) κατέγραψε θετικές καθαρές ταμειακές ροές ύψους $ 0,1 εκατομμυρίων από λειτουργικές δραστηριότητες, κατά το τρίμηνο που έληξε στις 30 Ιουνίου 2020, παρουσιάζοντας αξιοσημείωτη βελτίωση σε σχέση με τις ταμειακές εκροές $ 116,7 εκατομμυρίων την αντίστοιχη περίοδο του προηγούμενου έτους. Αυτή η εξέλιξη αποδίδεται κυρίως στη μειωμένη ανάγκη για κεφάλαιο κίνησης, ως αποτέλεσμα της μειωμένης ανάγκης για κεφάλαιο κίνησης που προήλθε από την παγκόσμια επιβράδυνση στις αγορές και την επεξεργασία καλλιεργειών, αλλά και των χαμηλότερων τιμών του ακατέργαστου καπνού. Παρά τις εξωτερικές προκλήσεις, όπως οι εποχιακές αυξήσεις στα αποθέματα καπνού, η μείωση των ταμειακών απαιτήσεων ενίσχυσε τη ρευστότητα της εταιρείας. Σημειώνεται ότι έως και το τέλος του Μαρτίου 2020, η πανδημία δεν είχε ουσιαστικές επιπτώσεις στις βασικές δραστηριότητες της UVV, πέραν των διακυμάνσεων στις αγορές συναλλάγματος. Η διοίκηση της εταιρείας εκτιμά ότι τα διαθέσιμα ταμειακά αποθέματα, οι λειτουργικές ταμειακές ροές και οι υπάρχουσες πηγές ρευστότητας επαρκούν για την κάλυψη των χρηματοδοτικών της αναγκών τουλάχιστον για τους επόμενους δώδεκα μήνες. Ωστόσο, διατηρεί επιφυλάξεις σχετικά με ενδεχόμενες μελλοντικές καθυστερήσεις σε αποστολές και λοιπές αβεβαιότητες που σχετίζονται με την εξέλιξη της πανδημίας, οι οποίες ενδέχεται να επηρεάσουν τη διάρκεια των αναγκών σε κεφάλαιο κίνησης.
Question:
What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: Strategy includes reducing uncommitted inventory levels to target range, managing impact of lower-margin carryover crop, implementing cost controls including lower travel expenses, pursuing strong demand for natural wrapper tobaccos
Financial Statement Evidence: Operating income $8.5M vs $7.5M prior year, gross margin pressure from "lower margin carryover crop", SG&A costs decreased by $1.7M to $49.4M |
UVV_20200805 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 |
|:------------------------------------------------------|:-----------|:------------|:-----------|:------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| | | June 30, | | June 30, | | March 31, | | | | | | |
| | | 2020 | | 2019 | | 2020 | | | | | | |
| | | (Unaudited) | | (Unaudited) | | | | | | | | |
| ASSETS | | | | | | | | | | | | |
| Current assets | | | | | | | | | | | | |
| Cash and cash equivalents | | $ | 100,015 | | | $ | 167,996 | | | $ | 107,430 | |
| Accounts receivable, net | | 222,162 | | | 217,905 | | | 340,711 | | | | |
| Advances to suppliers, net | | 65,221 | | | 80,032 | | | 133,778 | | | | |
| Accounts receivable—unconsolidated affiliates | | 32,827 | | | 63,388 | | | 11,483 | | | | |
| Inventories—at lower of cost or net realizable value: | | | | | | | | | | | | |
| Tobacco | | 858,940 | | | 898,409 | | | 707,298 | | | | |
| Other | | 104,399 | | | 77,654 | | | 99,275 | | | | |
| Prepaid income taxes | | 13,426 | | | 20,985 | | | 12,144 | | | | |
| Other current assets | | 65,675 | | | 75,689 | | | 67,498 | | | | |
| Total current assets | | 1,462,665 | | | 1,602,058 | | | 1,479,617 | | | | |
| | | | | | | | | | | | | |
| Property, plant and equipment | | | | | | | | | | | | |
| Land | | 21,454 | | | 22,785 | | | 21,376 | | | | |
| Buildings | | 258,306 | | | 262,688 | | | 256,488 | | | | |
| Machinery and equipment | | 644,092 | | | 611,209 | | | 634,395 | | | | |
| | | 923,852 | | | 896,682 | | | 912,259 | | | | |
| Less accumulated depreciation | | (608,173 | ) | | (597,257 | ) | | (597,106 | ) | | | |
| | | 315,679 | | | 299,425 | | | 315,153 | | | | |
| Other assets | | | | | | | | | | | | |
| Operating lease right-of-use assets | | 37,576 | | | 34,472 | | | 39,256 | | | | |
| Goodwill and other intangibles, net | | 143,976 | | | 98,029 | | | 144,687 | | | | |
| Investments in unconsolidated affiliates | | 79,198 | | | 80,985 | | | 77,543 | | | | |
| Deferred income taxes | | 23,085 | | | 15,582 | | | 20,954 | | | | |
| Other noncurrent assets | | 44,661 | | | 47,333 | | | 43,711 | | | | |
| | | 328,496 | | | 276,401 | | | 326,151 | | | | |
| | | | | | | | | | | | | |
| Total assets | | $ | 2,106,840 | | | $ | 2,177,884 | | | $ | 2,120,921 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 |
|:-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-----------|:------------|:-----------|:------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| | | June 30, | | June 30, | | March 31, | | | | | | |
| | | 2020 | | 2019 | | 2020 | | | | | | |
| | | (Unaudited) | | (Unaudited) | | | | | | | | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | | | | | | |
| Current liabilities | | | | | | | | | | | | |
| Notes payable and overdrafts | | $ | 92,758 | | | $ | 73,640 | | | $ | 78,033 | |
| Accounts payable and accrued expenses | | 133,621 | | | 179,297 | | | 140,202 | | | | |
| Accounts payable—unconsolidated affiliates | | — | | | 10 | | | 55 | | | | |
| Customer advances and deposits | | 10,575 | | | 4,397 | | | 10,242 | | | | |
| Accrued compensation | | 16,373 | | | 23,084 | | | 23,710 | | | | |
| Income taxes payable | | 2,359 | | | 1,576 | | | 5,334 | | | | |
| Current portion of operating lease liabilities | | 9,914 | | | 8,938 | | | 9,823 | | | | |
| Current portion of long-term debt | | — | | | — | | | — | | | | |
| Total current liabilities | | 265,600 | | | 290,942 | | | 267,399 | | | | |
| | | | | | | | | | | | | |
| Long-term debt | | 368,829 | | | 368,568 | | | 368,764 | | | | |
| Pensions and other postretirement benefits | | 70,473 | | | 59,364 | | | 70,680 | | | | |
| Long-term operating lease liabilities | | 24,040 | | | 23,098 | | | 25,893 | | | | |
| Other long-term liabilities | | 75,130 | | | 52,387 | | | 69,427 | | | | |
| Deferred income taxes | | 24,435 | | | 31,447 | | | 29,474 | | | | |
| Total liabilities | | 828,507 | | | 825,806 | | | 831,637 | | | | |
| | | | | | | | | | | | | |
| Shareholders’ equity | | | | | | | | | | | | |
| Universal Corporation: | | | | | | | | | | | | |
| Preferred stock: | | | | | | | | | | | | |
| Series A Junior Participating Preferred Stock, no par value, 500,000 shares authorized, none issued or outstanding | | — | | | — | | | — | | | | |
| Common stock, no par value, 100,000,000 shares authorized 24,488,964 shares issued and outstanding at June 30, 2020 (24,971,489 at June 30, 2019 and 24,421,835 at March 31, 2020) | | 322,449 | | | 325,515 | | | 321,502 | | | | |
| Retained earnings | | 1,064,927 | | | 1,084,987 | | | 1,076,760 | | | | |
| Accumulated other comprehensive loss | | (151,132 | ) | | (100,161 | ) | | (151,597 | ) | | | |
| Total Universal Corporation shareholders' equity | | 1,236,244 | | | 1,310,341 | | | 1,246,665 | | | | |
| Noncontrolling interests in subsidiaries | | 42,089 | | | 41,737 | | | 42,619 | | | | |
| Total shareholders' equity | | 1,278,333 | | | 1,352,078 | | | 1,289,284 | | | | |
| | | | | | | | | | | | | |
| Total liabilities and shareholders' equity | | $ | 2,106,840 | | | $ | 2,177,884 | | | $ | 2,120,921 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 |
|:--------------------------------------------------------------------------------------|:-----------|:----------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|
| | | | | | | | | |
| | | | | | | | | |
| | | Three Months Ended June 30, | | | | | | |
| | | 2020 | | 2019 | | | | |
| | | (Unaudited) | | | | | | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | | | | | | | | |
| Net income | | $ | 6,900 | | | $ | 895 | |
| Adjustments to reconcile net income to net cash used by operating activities: | | | | | | | | |
| Depreciation and amortization | | 10,105 | | | 9,067 | | | |
| Net provision for losses (recoveries) on advances and guaranteed loans to suppliers | | 57 | | | (165 | ) | | |
| Foreign currency remeasurement (gain) loss, net | | (4,691 | ) | | (1,497 | ) | | |
| Foreign currency exchange contracts | | (13,951 | ) | | 733 | | | |
| Restructuring payments | | (2,937 | ) | | — | | | |
| Change in estimated fair value of contingent consideration for FruitSmart acquisition | | (4,173 | ) | | — | | | |
| Other, net | | (3,350 | ) | | 3,047 | | | |
| Changes in operating assets and liabilities, net | | 12,087 | | | (128,819 | ) | | |
| Net cash provided (used) by operating activities | | 47 | | | (116,739 | ) | | |
| | | | | | | | | |
| CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | | |
| Purchase of property, plant and equipment | | (8,386 | ) | | (5,679 | ) | | |
| Proceeds from sale of property, plant and equipment | | 218 | | | 226 | | | |
| Net cash used by investing activities | | (8,168 | ) | | (5,453 | ) | | |
| | | | | | | | | |
| CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | |
| Issuance of short-term debt, net | | 20,688 | | | 19,257 | | | |
| Repurchase of common stock | | — | | | (5,214 | ) | | |
| Dividends paid on common stock | | (18,567 | ) | | (18,742 | ) | | |
| Other | | (1,930 | ) | | (2,883 | ) | | |
| Net cash provided (used) by financing activities | | 191 | | | (7,582 | ) | | |
| | | | | | | | | |
| Effect of exchange rate changes on cash | | 515 | | | 214 | | | |
| Net decrease in cash and cash equivalents | | (7,415 | ) | | (129,560 | ) | | |
| Cash and cash equivalents at beginning of year | | 107,430 | | | 297,556 | | | |
| | | | | | | | | |
| Cash and cash equivalents at end of period | | $ | 100,015 | | | $ | 167,996 | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 |
|:----------------------------------------------------------------------------------|:-----------|:----------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|
| | | | | | | | | |
| | | | | | | | | |
| | | Three Months Ended June 30, | | | | | | |
| | | 2020 | | 2019 | | | | |
| | | (Unaudited) | | | | | | |
| Sales and other operating revenues | | $ | 315,811 | | | $ | 296,915 | |
| Costs and expenses | | | | | | | | |
| Cost of goods sold | | 262,046 | | | 238,265 | | | |
| Selling, general and administrative expenses | | 49,410 | | | 51,136 | | | |
| Other income | | (4,173 | ) | | — | | | |
| Operating income | | 8,528 | | | 7,514 | | | |
| Equity in pretax earnings (loss) of unconsolidated affiliates | | (7 | ) | | 40 | | | |
| Other non-operating income (expense) | | (18 | ) | | 627 | | | |
| Interest income | | 159 | | | 1,008 | | | |
| Interest expense | | 6,810 | | | 4,028 | | | |
| Income before income taxes and other items | | 1,852 | | | 5,161 | | | |
| Income taxes | | (5,048 | ) | | 4,266 | | | |
| Net income | | 6,900 | | | 895 | | | |
| Less: net loss (income) attributable to noncontrolling interests in subsidiaries | | 374 | | | 1,177 | | | |
| Net income attributable to Universal Corporation | | $ | 7,274 | | | $ | 2,072 | |
| | | | | | | | | |
| Earnings per share: | | | | | | | | |
| Basic | | $ | 0.30 | | | $ | 0.08 | |
| Diluted | | $ | 0.29 | | | $ | 0.08 | |
| | | | | | | | | |
| Weighted average common shares outstanding: | | | | | | | | |
| Basic | | 24,602,610 | | | 25,158,369 | | | |
| Diluted | | 24,703,579 | | | 25,284,258 | | | |
| | | | | | | | | |
| Total comprehensive income, net of income taxes | | $ | 7,209 | | | $ | (3,452 | ) |
| Less: comprehensive income attributable to noncontrolling interests | | 530 | | | 1,054 | | | |
| Comprehensive income (loss) attributable to Universal Corporation | | $ | 7,739 | | | $ | (2,398 | ) |
| | | | | | | | | |
| Dividends declared per common share | | $ | 0.77 | | | $ | 0.76 | |
---
English News:
Universal Corporation Reports First Quarter Results RICHMOND Va Aug 5 2020 PRNewswire George C Freeman III Chairman President and Chief Executive Officer of Universal Corporation NYSE UVV reported net income of 7.3 million or 0.29 per diluted share for the first quarter of fiscal year 2021 which ended on June 30 2020. Those results were up 5.2 million compared with net income of 2.1 million or 0.08 per diluted share for the first quarter of fiscal year 2020. Excluding certain non recurring items detailed in Other Items below net income and diluted earnings per share declined by 4.3 million and 0.17 respectively for the quarter ended June 30 2020 compared to the quarter ended June 30 2019. Operating income of 8.5 million for the quarter ended June 30 2020 increased by 1.0 million compared to operating income of 7.5 million for the quarter ended June 30 2019. Segment operating income was 4.3 million for the first quarter of fiscal year 2021 down 3.2 million compared to the same period last fiscal year mainly as a result of earnings declines in the Other Regions and Other Tobacco Operations segments. Revenues of 315.8 million for the quarter ended June 30 2020 increased by 18.9 million or 6 on higher total sales volumes offset in part by lower sales and leaf prices as well as a less favorable mix. Mr Freeman stated Our fiscal year 2021 is off to a slow but respectable start as nearly all of our origins continue to make good progress moving through their various tobacco growing and processing activities. The first fiscal quarter is generally the weakest of our fiscal year given seasonal timing. This fiscal year as a result of the COVID 19 pandemic COVID we are also experiencing later openings of the tobacco buying seasons and slower processing due to social distancing and other local government safety requirements. We have also had some slower receipts of customer shipping instructions and orders. However to date we have not seen a material impact to our supply chain or seasonal planting or harvesting requirements. Despite COVID related slowdowns tobacco volumes in the first quarter of fiscal year 2021 exceeded those of the first quarter of fiscal year 2020. Volumes shipped out of Brazil in the quarter ended June 30 2020 included inventory that had been uncommitted at March 31 2020 reducing our overall uncommitted inventory levels. As of June 30 2020 our uncommitted inventory levels had declined significantly from fiscal year end 2020 levels and at 20.5 are now just outside our target range. A large portion of the shipped Brazilian volume however was lower margin carryover crop which impacted results for the quarter. Results for the quarter ended June 30 2020 were also impacted by several non recurring items including an adjustment to a contingent consideration for the acquisition of FruitSmart interest expense associated with a disputed foreign tax matter and an income tax benefit from issuance of final tax regulations for dividends paid by foreign subsidiaries. We have seen some reductions in projected global crop sizes for both burley and flue cured tobaccos for crop year 2020. We believe that these reflect a positive adjustment to market conditions and that burley tobacco remains in a balanced supply position and that flue cured tobacco is now in a slight oversupply position. We are also continuing to see very strong demand for natural wrapper tobaccos. We are prudently monitoring COVID developments around the world and are projecting that our sales volumes for fiscal year 2021 will be weighted to the back half of the fiscal year in part due to COVID related processing slowdowns and later customer mandated shipment timing. We also have experienced some increased volatility in foreign currency rates which we believe is related to the uncertainties from COVID. I am very proud of the success we continue to achieve while operating safely in more than 30 countries around the world during a time of unprecedented and disparate challenges. I believe our commitment to strong local management in our key operating areas has enabled us to react quickly and effectively to these new conditions. Our business is also built on relationships. Having these strong relationships with our customers and suppliers has allowed us to make the new remote interactions work well. I am very pleased and thankful for the hard work of our employees and the continued support of our customers growers and other partners during these challenging times. As we move forward in fiscal year 2021 we are focused on keeping our employees safe and running our business efficiently while positioning both our tobacco and non tobacco businesses for future success. As part of our capital allocation strategy we have made and will continue to explore disciplined investments in both tobacco opportunities and non tobacco businesses that we believe will be able to deliver shareholder value. FLUE CURED AND BURLEY LEAF TOBACCO OPERATIONS OTHER REGIONS The Other Regions segment operating loss of 4.3 million for the quarter ended June 30 2020 was 0.5 million greater than the prior years first fiscal quarter operating loss of 3.8 million. Although volumes in Brazil increased in the first quarter of fiscal year 2021 a large portion of the sales consisted of previously uncommitted inventories of lower margin carryover crop tobacco. In addition some volumes in Brazil that were expected to be shipped in the quarter ended June 30 2020 were delayed on limited vessel availability at the port due to COVID. For the first quarter of fiscal year 2021 lower results in Brazil were partially offset by increases in Asia largely due to higher volumes in the Philippines and higher volumes in Africa on carryover crop shipments delayed into the first quarter of fiscal 2021 compared to the same quarter in the prior fiscal year. Selling general and administrative costs for the segment were slightly lower in the quarter ended June 30 2020 as unfavorable foreign remeasurement comparisons mainly in Mozambique were offset by other declines in expenses including lower travel costs compared to the same period in the prior fiscal year. Revenues for the Other Regions segment of 204.7 million for the quarter ended June 30 2020 were up 2.7 million compared to the quarter ended June 30 2019 on higher volumes offset in part by lower sales and leaf prices and processing revenues. NORTH AMERICA Operating income for the North America segment for the quarter ended June 30 2020 of 1.0 million was flat compared to the quarter ended June 30 2019 as higher carryover volumes from the United States and lower expenses in Mexico due to timing offset lower processing volumes in Guatemala in part due to delays resulting from COVID restrictions. Selling general and administrative costs for the North America segment were flat compared to the prior years first fiscal quarter. Revenues for this segment increased by 12.3 million to 39.9 million for the quarter ended June 30 2020 compared to the same period in the prior fiscal year on higher carryover crop volumes at lower sales and leaf prices as well as a more favorable product mix. OTHER TOBACCO OPERATIONS The Other Tobacco Operations segment operating income of 7.6 million for the first quarter of fiscal year 2021 reflected a decrease of 2.9 million compared to operating income of 10.5 million for this segment in the same period last year. Results from our dark tobacco operations were lower on reduced volumes in part due to delays from COVID and lower costs in the prior year. In the quarter ended June 30 2020 results for the oriental joint venture were flat and operating income for the segment benefited from the acquisition in January 2020 of FruitSmart our new fruit and vegetable processing business compared to the same quarter last fiscal year. Selling general and administrative costs for the segment were down compared with the prior years first fiscal quarter mainly due to favorable foreign currency remeasurement comparisons primarily in Indonesia offset in part by the addition of costs for the new FruitSmart business. Revenues for this segment increased by 4.0 million to 71.2 million for the quarter ended June 30 2020 compared to the same period in the prior fiscal year on the addition of our FruitSmart business partially offset by lower dark tobacco sales. OTHER ITEMS Cost of goods sold in the quarter ended June 30 2020 of 262.0 million increased by about 10 compared with the same period last year as a result of higher sales volumes coupled with a less favorable mix. Interest expense for the quarter ended June 30 2020 increased by 2.8 million to 6.8 million compared with the same quarter in the prior year largely on a non recurring interest expense item associated with an uncertain tax matter at a foreign subsidiary. Selling general and administrative costs for the first quarter of fiscal year 2021 decreased by 1.7 million to 49.4 million compared with the same period in the prior year as benefits from positive net foreign currency remeasurement and exchange variances primarily in Indonesia and lower travel costs were offset in part by selling general and administrative costs for the FruitSmart business acquired in in the fourth quarter of fiscal year 2020. The following tables set forth certain non recurring items included in reported results to reconcile adjusted operating income to consolidated operating income and adjusted net income to net income attributable to Universal Corporation Adjusted Operating Income Reconciliation Three Months Ended June 30 in millions 2020 2019 As Reported Consolidated operating income 8528 7514 Fair value adjustment to contingent consideration for FruitSmart acquisition1 4173 Adjusted operating income 4355 7514 Adjusted Net Income and Diluted Earnings Per Share Three Months Ended June 30 in millions and reported net of income taxes 2020 2019 As Reported Net income available to Universal Corporation 7274 2072 Fair value adjustment to contingent consideration for FruitSmart acquisition1 4173 Interest expense related to an uncertain tax matter at a foreign subsidiary 1849 Income tax benefit from dividend withholding tax liability reversal2 4421 Income tax settlement for a foreign subsidiary3 2766 Adjusted Net income available to Universal Corporation 529 4838 As reported Diluted earnings per share 0.29 0.08 As adjusted Diluted earnings per share 0.02 0.19 1 The Company reversed a portion of the contingent consideration liability for the FruitSmart Inc acquisition as a result of forecasted performance metrics that are not expected to meet the required threshold stipulated in the purchase agreement. 2 The Company recognized an income tax benefit for final US tax regulations on certain dividends paid by foreign subsidiaries in a prior fiscal year. 3 During the 1st quarter of fiscal year2020 the Company recognized an income tax settlement charge related to operations at a foreign subsidiary. For the three months ended June30 2020 the Company reported a net tax benefit on pretax earnings of 5.0 million mainly due to a 4.4 million benefit for final tax regulations issued in the quarter regarding the treatment of dividends paid by foreign subsidiaries. Without this benefit income taxes for the quarter ended June 30 2020 would have been a benefit of approximately 0.6 million. For the three months ended June 30 2019 the Companys income tax expense of 4.3 million included a 2.8 million net tax accrual for a tax settlement at a foreign subsidiary. Without the tax settlement charge income taxes for the quarter ended June 30 2019 would have been approximately 1.5 million or a consolidated effective tax rate of approximately 29. COVID 19 Pandemic Impact On March 11 2020 the World Health Organization declared COVID 19 a pandemic. Foreign governmental organizations and governmental organizations in the United States have taken various actions to combat the spread of COVID including imposing stay at home orders and closing non essential businesses and their operations. We continue to closely monitor developments related to the ongoing COVID pandemic and have taken and continue to take steps intended to mitigate the potential risks to us. It is paramount that our employees who operate our businesses are safe and informed. We have assessed and regularly update our existing business continuity plans for our business in the context of this pandemic. For example we have taken precautions with regard to employee and facility hygiene imposed travel limitations on our employees directed certain employee groups to work remotely whenever possible and we continue to assess protocols designed to protect our employees customers and the public. We continue to work with our suppliers to mitigate the impacts to our supply chain due to the ongoing pandemic. To date we have not experienced a material impact to our supply chain. Since March 2020 we have at times experienced increased volatility in foreign currency exchange rates which we believe is in part related to the continued uncertainties from COVID as well as actions taken by governments and central banks in response to COVID. We expect continued volatility in foreign currency exchange rates during fiscal year 2021 though we cannot reasonably estimate the duration or extent of that volatility. We continue to monitor the impacts of COVID which include slower processing of our products due to controlled staffing in our facilities that could lead to later timing of shipments to our customers. We currently have sufficient liquidity to meet our current obligations and business operations remain fundamentally unchanged other than shipping delays which could impact quarterly comparisons. This is however a rapidly evolving situation and we cannot predict the extent or duration of the ongoing COVID pandemic the effects of it on the global national or local economy including the impacts on our ability to access capital or its effects on our business financial position results of operations and cash flows. We continue to monitor developments affecting our employees customers and operations and will take additional steps to address the spread of COVID and its impacts as necessary. Additional information Amounts described as net income loss and earnings loss per diluted share in the previous discussion are attributable to Universal Corporation and exclude earnings related to non controlling interests in subsidiaries. Adjusted operating income loss adjusted net income loss attributable to Universal Corporation adjusted diluted earnings loss per share and the total for segment operating income loss referred to in this discussion are non GAAP financial measures. These measures are not financial measures calculated in accordance with GAAP and should not be considered as substitutes for operating income loss net income loss attributable to Universal Corporation diluted earnings loss per share cash from operating activities or any other operating or financial performance measure calculated in accordance with GAAP and may not be comparable to similarly titled measures reported by other companies. A reconciliation of adjusted operating income loss to consolidated operating income adjusted net income loss attributable to Universal Corporation to consolidated net income loss attributable to Universal Corporation and adjusted diluted earnings loss per share to diluted earnings loss per share are provided in Other Items above. In addition we have provided a reconciliation of the total for segment operating income loss to consolidated operating income loss in Note 3 Operating Segments to the consolidated financial statements. Management evaluates the consolidated Company and segment performance excluding certain significant charges or credits. We believe these non GAAP financial measures which exclude items that we believe are not indicative of our core operating results provide investors with important information that is useful in understanding our business results and trends. This release includes forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company cautions readers that any statements contained herein regarding financial condition results of operation and future business plans operations opportunities and prospects for its performance are forward looking statements based upon managements current knowledge and assumptions about future events and involve risks and uncertainties that could cause actual results performance or achievements to be materially different from any anticipated results prospects performance or achievements expressed or implied by such forward looking statements. Such risks and uncertainties include but are not limited to impacts of the ongoing COVID 19 pandemic integration of FruitSmart and the impact of the FruitSmart acquisition on future results product purchased not meeting quality and quantity requirements reliance on a few large customers its ability to maintain effective information technology systems and safeguard confidential information anticipated levels of demand for and supply of its products and services costs incurred in providing these products and services timing of shipments to customers changes in market structure government regulation product taxation industry consolidation and evolution changes in exchange rates and interest rates impacts of regulation and litigation on its customers industry specific risks related to its food ingredient business exposure to certain regulatory and financial risks related to climate change changes in estimates and assumptions underlying its critical accounting policies the promulgation and adoption of new accounting standards new government regulations and interpretation of existing standards and regulations and general economic political market and weather conditions. Actual results therefore could vary from those expected. A further list and description of these risks uncertainties and other factors can be found in the Companys Annual Report on Form 10 K for the fiscal year ended March 31 2020 and in other documents the Company files with the Securities and Exchange Commission. This information should be read in conjunction with the Annual Report on Form 10 K for the year ended March 31 2020 and the Form 10 Q for the most recently ended fiscal quarter. The Company cautions investors not to place undue reliance on any forward looking statements as these statements speak only as of the date when made and it undertakes no obligation to update any forward looking statements made. At 500 pm Eastern Time on August 5 2020 the Company will host a conference call to discuss these results. Those wishing to listen to the call may do so by visiting www.universalcorp.com at that time. A replay of the webcast will be available at that site through November 5 2020. A taped replay of the call will be available through August 19 2020 by dialing 855 859 2056. The confirmation number to access the replay is 2771816. Universal Corporation NYSE UVV headquartered in Richmond Virginia sources processes and supplies agri products. Tobacco has been our principal focus since our founding in 1918 and we are the leading global leaf tobacco supplier. We conduct business in more than 30 countries on five continents. Our revenues for the fiscal year ended March 31 2020 were 1.9 billion. For more information on Universal Corporation visit our website at www.universalcorp.com.
Chinese News:
近日环球烟草公布财报，公告显示该公司2020财年第一财季归属于母公司普通股股东净利润为727.40万美元，同比增长251.06%；营业收入为3.16亿美元，同比上涨6.36%。Universal Corporation是一家领先的烟叶烟草供应商。它在5大洲超过30个国家都有业务。自其1918年建立后烟草业就成了其主要业务。它业务的最大部分就是为消费性烟草产品生产商收集处理烤烟和白肋烟叶。该公司两种烟的业务部门主要在 北美和其它地区。它还有第三个业务部门，即它的东方烟草合资企业以及一些与烟草有关的服务。
Japanese News:
米国大手葉タバコ供給企業であるユニバーサル・コーポレーション（NYSE: UVV）は2020年8月5日（現地時間）、2021会計年度第1四半期（2020年4月〜6月期）の業績を発表した。同期の売上高は前年同期比6.36％増の3億1581万ドル、営業利益は同13.50％増の852万8000ドル、純利益は前年同期の207万2000ドルから727万4000ドルへと大幅な増益を記録した。 1株当たり利益（EPS）は基本ベースで0.30ドル（前年同期0.08ドル）、希薄化後ベースで0.29ドル（前年同期0.08ドル）となった。 ユニバーサル・コーポレーションのジョージ・C・フリーマン3世CEOは、「2021会計年度のスタートは比較的ゆるやかだったが、COVID-19（新型コロナウイルス感染症）による影響を受けながらも、主要産地ではタバコ葉の栽培と加工が順調に進展している。第1四半期は季節的要因で例年最も業績が弱い期間だが、今期はCOVID-19対策によるソーシャルディスタンス措置等で、タバコの買い付け時期が遅れ、加工プロセスも一部遅延した。しかし、サプライチェーンや季節的な栽培・収穫には大きな影響を受けていない」とコメントした。 同氏によると、第1四半期はブラジルからの在庫出荷が増加し、未契約在庫の削減に成功したものの、出荷した在庫の多くが利益率の低い繰越在庫だったため、収益に一定の影響を及ぼした。また、非経常項目としてFruitSmart買収に関連する条件付対価の調整、海外子会社の税務問題に関連する利息費用、および海外子会社の配当に関する最終的な税務規制の発行による所得税恩恵などが業績に影響した。 ユニバーサル・コーポレーションは引き続きCOVID-19の影響を慎重に監視しつつ、今後の売上高が年度後半に集中すると予測している。同時に、同社はタバコ以外の事業にも投資を行い、長期的な株主価値の向上を目指す方針だと述べている。
Spanish News:
Universal Corporation ha anunciado los resultados del primer trimestre que finalizó el 30 de junio de 2020. Para el primer trimestre, la empresa anunció que las ventas fueron de 315,811 millones de dólares frente a los 296,915 millones de dólares de hace un año. Los ingresos de explotación fueron de 8,528 millones de dólares, frente a los 7,514 millones de dólares de hace un año. Los ingresos netos fueron de 7,274 millones de dólares, frente a los 2,072 millones de dólares de hace un año. El beneficio básico por acción de las operaciones continuadas fue de 0,3 dólares, frente a los 0,08 dólares de hace un año. El beneficio diluido por acción de las operaciones continuas fue de 0,29 dólares, frente a los 0,08 dólares de hace un año. Mr. Freeman stated, "Our fiscal year 2021 is off to a slow but respectable start as nearly all of our origins continue to make good progress moving through their various tobacco growing and processing activities. The first fiscal quarter is generally the weakest of our fiscal year given seasonal timing. This fiscal year, as a result of the COVID-19 pandemic ("COVID"), we are also experiencing later openings of the tobacco buying seasons and slower processing due to social distancing and other local government safety requirements. We have also had some slower receipts of customer shipping instructions and orders. However, to date we have not seen a material impact to our supply chain or seasonal planting or harvesting requirements. "Despite COVID related slowdowns, tobacco volumes in the first quarter of fiscal year 2021 exceeded those of the first quarter of fiscal year 2020. Volumes shipped out of Brazil in the quarter ended June 30, 2020, included inventory that had been uncommitted at March 31, 2020, reducing our overall uncommitted inventory levels. As of June 30, 2020, our uncommitted inventory levels had declined significantly from fiscal year end 2020 levels, and at 20.5%, are now just outside our target range. A large portion of the shipped Brazilian volume, however, was lower margin carryover crop which impacted results for the quarter. Results for the quarter ended June 30, 2020, were also impacted by several non-recurring items, including an adjustment to a contingent consideration for the acquisition of FruitSmart, interest expense associated with a disputed foreign tax matter, and an income tax benefit from issuance of final tax regulations for dividends paid by foreign subsidiaries. "We have seen some reductions in projected global crop sizes for both burley and flue-cured tobaccos for crop year 2020. We believe that these reflect a positive adjustment to market conditions and that burley tobacco remains in a balanced supply position and that flue-cured tobacco is now in a slight oversupply position. We are also continuing to see very strong demand for natural wrapper tobaccos. "We are prudently monitoring COVID developments around the world, and are projecting that our sales volumes for fiscal year 2021 will be weighted to the back half of the fiscal year in part due to COVID related processing slowdowns and later customer mandated shipment timing. We also have experienced some increased volatility in foreign currency rates, which we believe is related to the uncertainties from COVID. "I am very proud of the success we continue to achieve while operating safely in more than 30 countries around the world during a time of unprecedented and disparate challenges. I believe our commitment to strong local management in our key operating areas has enabled us to react quickly and effectively to these new conditions. Our business is also built on relationships. Having these strong relationships with our customers and suppliers has allowed us to make the new remote interactions work well. I am very pleased and thankful for the hard work of our employees and the continued support of our customers, growers, and other partners during these challenging times.
Greek News:
Η Universal Corporation (UVV) κατέγραψε θετικές καθαρές ταμειακές ροές ύψους $ 0,1 εκατομμυρίων από λειτουργικές δραστηριότητες, κατά το τρίμηνο που έληξε στις 30 Ιουνίου 2020, παρουσιάζοντας αξιοσημείωτη βελτίωση σε σχέση με τις ταμειακές εκροές $ 116,7 εκατομμυρίων την αντίστοιχη περίοδο του προηγούμενου έτους. Αυτή η εξέλιξη αποδίδεται κυρίως στη μειωμένη ανάγκη για κεφάλαιο κίνησης, ως αποτέλεσμα της μειωμένης ανάγκης για κεφάλαιο κίνησης που προήλθε από την παγκόσμια επιβράδυνση στις αγορές και την επεξεργασία καλλιεργειών, αλλά και των χαμηλότερων τιμών του ακατέργαστου καπνού. Παρά τις εξωτερικές προκλήσεις, όπως οι εποχιακές αυξήσεις στα αποθέματα καπνού, η μείωση των ταμειακών απαιτήσεων ενίσχυσε τη ρευστότητα της εταιρείας. Σημειώνεται ότι έως και το τέλος του Μαρτίου 2020, η πανδημία δεν είχε ουσιαστικές επιπτώσεις στις βασικές δραστηριότητες της UVV, πέραν των διακυμάνσεων στις αγορές συναλλάγματος. Η διοίκηση της εταιρείας εκτιμά ότι τα διαθέσιμα ταμειακά αποθέματα, οι λειτουργικές ταμειακές ροές και οι υπάρχουσες πηγές ρευστότητας επαρκούν για την κάλυψη των χρηματοδοτικών της αναγκών τουλάχιστον για τους επόμενους δώδεκα μήνες. Ωστόσο, διατηρεί επιφυλάξεις σχετικά με ενδεχόμενες μελλοντικές καθυστερήσεις σε αποστολές και λοιπές αβεβαιότητες που σχετίζονται με την εξέλιξη της πανδημίας, οι οποίες ενδέχεται να επηρεάσουν τη διάρκεια των αναγκών σε κεφάλαιο κίνησης.
Question:
What are the company's capital expenditures and their strategic significance from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | What are the company's capital expenditures and their strategic significance from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: Capital expenditures focused on FruitSmart acquisition expanding beyond tobacco, maintaining processing capabilities across 30+ countries despite COVID disruptions, no specific strategic capex projects detailed in news
Financial Statement Evidence: "Purchase of property, plant and equipment (8,386)" vs prior year "(5,679)", FruitSmart acquisition included in investing activities |
UVV_20201105 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 |
|:------------------------------------------------------|:-----------|:--------------|:-----------|:--------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | |
| | | September 30, | | September 30, | | March 31, | | | | | | | | | | | | | | |
| | | 2020 | | 2019 | | 2020 | | | | | | | | | | | | | | |
| | | (Unaudited) | | (Unaudited) | | | | | | | | | | | | | | | | |
| ASSETS | | | | | | | | | | | | | | | | | | | | |
| Current assets | | | | | | | | | | | | | | | | | | | | |
| Cash and cash equivalents | | $ | 57,084 | | | $ | 53,173 | | | $ | 107,430 | | | | | | | | | |
| Accounts receivable, net | | 329,332 | | | 337,825 | | | 340,711 | | | | | | | | | | | | |
| Advances to suppliers, net | | 65,643 | | | 75,828 | | | 133,778 | | | | | | | | | | | | |
| Accounts receivable—unconsolidated affiliates | | 47,807 | | | 82,812 | | | 11,483 | | | | | | | | | | | | |
| Inventories—at lower of cost or net realizable value: | | | | | | | | | | | | | | | | | | | | |
| Tobacco | | 888,213 | | | 918,592 | | | 707,298 | | | | | | | | | | | | |
| Other | | 116,299 | | | 97,536 | | | 99,275 | | | | | | | | | | | | |
| Prepaid income taxes | | 20,712 | | | 13,454 | | | 12,144 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Other current assets | | 69,564 | | | 70,338 | | | 67,498 | | | | | | | | | | | | |
| Total current assets | | 1,594,654 | | | 1,649,558 | | | 1,479,617 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Property, plant and equipment | | | | | | | | | | | | | | | | | | | | |
| Land | | 21,515 | | | 22,696 | | | 21,376 | | | | | | | | | | | | |
| Buildings | | 259,875 | | | 261,599 | | | 256,488 | | | | | | | | | | | | |
| Machinery and equipment | | 657,435 | | | 609,320 | | | 634,395 | | | | | | | | | | | | |
| | | 938,825 | | | 893,615 | | | 912,259 | | | | | | | | | | | | |
| Less accumulated depreciation | | (617,553) | | | (598,184) | | | (597,106) | | | | | | | | | | | | |
| | | 321,272 | | | 295,431 | | | 315,153 | | | | | | | | | | | | |
| Other assets | | | | | | | | | | | | | | | | | | | | |
| Operating lease right-of-use assets | | 35,665 | | | 34,838 | | | 39,256 | | | | | | | | | | | | |
| Goodwill and other intangibles, net | | 143,219 | | | 97,998 | | | 144,687 | | | | | | | | | | | | |
| Investments in unconsolidated affiliates | | 82,628 | | | 79,072 | | | 77,543 | | | | | | | | | | | | |
| Deferred income taxes | | 22,615 | | | 16,250 | | | 20,954 | | | | | | | | | | | | |
| Other noncurrent assets | | 42,239 | | | 45,085 | | | 43,711 | | | | | | | | | | | | |
| | | 326,366 | | | 273,243 | | | 326,151 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Total assets | | $ | 2,242,292 | | | $ | 2,218,232 | | | $ | 2,120,921 | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 |
|:--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-----------|:--------------|:-----------|:--------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | |
| | | September 30, | | September 30, | | March 31, | | | | | | | | | | | | | | |
| | | 2020 | | 2019 | | 2020 | | | | | | | | | | | | | | |
| | | (Unaudited) | | (Unaudited) | | | | | | | | | | | | | | | | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | | | | | | | | | | | | | | |
| Current liabilities | | | | | | | | | | | | | | | | | | | | |
| Notes payable and overdrafts | | $ | 235,413 | | | $ | 155,352 | | | $ | 78,033 | | | | | | | | | |
| Accounts payable and accrued expenses | | 133,034 | | | 158,731 | | | 140,202 | | | | | | | | | | | | |
| Accounts payable—unconsolidated affiliates | | 117 | | | 56 | | | 55 | | | | | | | | | | | | |
| Customer advances and deposits | | 8,049 | | | 6,513 | | | 10,242 | | | | | | | | | | | | |
| Accrued compensation | | 19,499 | | | 22,046 | | | 23,710 | | | | | | | | | | | | |
| Income taxes payable | | 2,947 | | | 1,155 | | | 5,334 | | | | | | | | | | | | |
| Current portion of operating lease liabilities | | 9,105 | | | 8,591 | | | 9,823 | | | | | | | | | | | | |
| Current portion of long-term debt | | — | | | — | | | — | | | | | | | | | | | | |
| Total current liabilities | | 408,164 | | | 352,444 | | | 267,399 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Long-term debt | | 368,894 | | | 368,633 | | | 368,764 | | | | | | | | | | | | |
| Pensions and other postretirement benefits | | 64,947 | | | 54,113 | | | 70,680 | | | | | | | | | | | | |
| Long-term operating lease liabilities | | 22,813 | | | 23,331 | | | 25,893 | | | | | | | | | | | | |
| Other long-term liabilities | | 72,657 | | | 56,146 | | | 69,427 | | | | | | | | | | | | |
| Deferred income taxes | | 25,941 | | | 24,982 | | | 29,474 | | | | | | | | | | | | |
| Total liabilities | | 963,416 | | | 879,649 | | | 831,637 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Shareholders’ equity | | | | | | | | | | | | | | | | | | | | |
| Universal Corporation: | | | | | | | | | | | | | | | | | | | | |
| Preferred stock: | | | | | | | | | | | | | | | | | | | | |
| Series A Junior Participating Preferred Stock, no par value,500,000shares authorized,noneissued or outstanding | | — | | | — | | | — | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Common stock, no par value,100,000,000shares authorized24,514,867shares issued and outstanding at September 30, 2020 (24,841,863at September 30, 2019 and24,421,835at March 31, 2020) | | 323,761 | | | 324,927 | | | 321,502 | | | | | | | | | | | | |
| Retained earnings | | 1,053,295 | | | 1,088,608 | | | 1,076,760 | | | | | | | | | | | | |
| Accumulated other comprehensive loss | | (137,556) | | | (114,876) | | | (151,597) | | | | | | | | | | | | |
| Total Universal Corporation shareholders' equity | | 1,239,500 | | | 1,298,659 | | | 1,246,665 | | | | | | | | | | | | |
| Noncontrolling interests in subsidiaries | | 39,376 | | | 39,924 | | | 42,619 | | | | | | | | | | | | |
| Total shareholders' equity | | 1,278,876 | | | 1,338,583 | | | 1,289,284 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Total liabilities and shareholders' equity | | $ | 2,242,292 | | | $ | 2,218,232 | | | $ | 2,120,921 | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 |
|:--------------------------------------------------------------------------------------|:-----------|:-------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | |
| | | Six Months Ended September 30, | | | | | | | | | | | | |
| | | 2020 | | 2019 | | | | | | | | | | |
| | | (Unaudited) | | | | | | | | | | | | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | | | | | | | | | | | | | | |
| Net income | | $ | 15,149 | | | $ | 30,642 | | | | | | | |
| Adjustments to reconcile net income to net cash used by operating activities: | | | | | | | | | | | | | | |
| Depreciation and amortization | | 20,381 | | | 18,231 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Net provision for losses (recoveries) on advances and guaranteed loans to suppliers | | 348 | | | (1,885) | | | | | | | | | |
| Foreign currency remeasurement (gain) loss, net | | (5,105) | | | 1,767 | | | | | | | | | |
| Foreign currency exchange contracts | | (8,169) | | | (773) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Restructuring payments | | (2,937) | | | (298) | | | | | | | | | |
| Change in estimated fair value of contingent consideration for FruitSmart acquisition | | (4,173) | | | — | | | | | | | | | |
| Other, net | | 3,049 | | | 472 | | | | | | | | | |
| Changes in operating assets and liabilities, net | | (168,502) | | | (327,975) | | | | | | | | | |
| Net cash provided (used) by operating activities | | (149,959) | | | (279,819) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | | | | | | | | |
| Purchase of property, plant and equipment | | (22,751) | | | (13,308) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Proceeds from sale of property, plant and equipment | | 1,780 | | | 1,254 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Net cash used by investing activities | | (20,971) | | | (12,054) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | | | | | | | |
| Issuance of short-term debt, net | | 162,646 | | | 104,003 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Dividends paid to noncontrolling interests | | (3,695) | | | (3,359) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Repurchase of common stock | | — | | | (12,338) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Dividends paid on common stock | | (37,424) | | | (37,721) | | | | | | | | | |
| Other | | (1,949) | | | (2,883) | | | | | | | | | |
| Net cash provided (used) by financing activities | | 119,578 | | | 47,702 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Effect of exchange rate changes on cash | | 1,006 | | | (212) | | | | | | | | | |
| Net decrease in cash and cash equivalents | | (50,346) | | | (244,383) | | | | | | | | | |
| Cash and cash equivalents at beginning of year | | 107,430 | | | 297,556 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Cash and cash equivalents at end of period | | $ | 57,084 | | | $ | 53,173 | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 | Column 22 | Column 23 | Column 24 | Column 25 | Column 26 | Column 27 |
|:----------------------------------------------------------------------------------|:-----------|:---------------------------------|:-----------|:-------------------------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Three Months Ended September 30, | | Six Months Ended September 30, | | | | | | | | | | | | | | | | | | | | | | |
| | | 2020 | | 2019 | | 2020 | | 2019 | | | | | | | | | | | | | | | | | | |
| | | (Unaudited) | | (Unaudited) | | | | | | | | | | | | | | | | | | | | | | |
| Sales and other operating revenues | | $ | 377,025 | | | $ | 475,921 | | | $ | 692,836 | | | $ | 772,836 | | | | | | | | | | | |
| Costs and expenses | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Cost of goods sold | | 308,267 | | | 379,892 | | | 570,313 | | | 618,157 | | | | | | | | | | | | | | | |
| Selling, general and administrative expenses | | 52,407 | | | 52,830 | | | 101,817 | | | 103,966 | | | | | | | | | | | | | | | |
| Other income | | — | | | — | | | (4,173) | | | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Operating income | | 16,351 | | | 43,199 | | | 24,879 | | | 50,713 | | | | | | | | | | | | | | | |
| Equity in pretax earnings (loss) of unconsolidated affiliates | | 590 | | | 2,310 | | | 583 | | | 2,350 | | | | | | | | | | | | | | | |
| Other non-operating income (expense) | | (20) | | | 633 | | | (38) | | | 1,260 | | | | | | | | | | | | | | | |
| Interest income | | 101 | | | 240 | | | 260 | | | 1,248 | | | | | | | | | | | | | | | |
| Interest expense | | 5,595 | | | 5,136 | | | 12,405 | | | 9,164 | | | | | | | | | | | | | | | |
| Income before income taxes and other items | | 11,427 | | | 41,246 | | | 13,279 | | | 46,407 | | | | | | | | | | | | | | | |
| Income taxes | | 3,178 | | | 11,499 | | | (1,870) | | | 15,765 | | | | | | | | | | | | | | | |
| Net income | | 8,249 | | | 29,747 | | | 15,149 | | | 30,642 | | | | | | | | | | | | | | | |
| Less: net loss (income) attributable to noncontrolling interests in subsidiaries | | (747) | | | (1,670) | | | (373) | | | (493) | | | | | | | | | | | | | | | |
| Net income attributable to Universal Corporation | | $ | 7,502 | | | $ | 28,077 | | | $ | 14,776 | | | $ | 30,149 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Earnings per share: | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | $ | 0.30 | | | $ | 1.12 | | | $ | 0.60 | | | $ | 1.20 | | | | | | | | | | | |
| Diluted | | $ | 0.30 | | | $ | 1.11 | | | $ | 0.60 | | | $ | 1.19 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Weighted average common shares outstanding: | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | 24,658,895 | | | 25,086,580 | | | 24,630,886 | | | 25,122,283 | | | | | | | | | | | | | | | |
| Diluted | | 24,770,421 | | | 25,197,325 | | | 24,737,134 | | | 25,240,600 | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Total comprehensive income, net of income taxes | | $ | 22,060 | | | $ | 14,908 | | | $ | 29,269 | | | $ | 11,456 | | | | | | | | | | | |
| Less: comprehensive income attributable to noncontrolling interests | | (982) | | | (1,546) | | | (452) | | | (492) | | | | | | | | | | | | | | | |
| Comprehensive income (loss) attributable to Universal Corporation | | $ | 21,078 | | | $ | 13,362 | | | $ | 28,817 | | | $ | 10,964 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Dividends declared per common share | | $ | 0.77 | | | $ | 0.76 | | | $ | 1.54 | | | $ | 1.52 | | | | | | | | | | | |
---
English News:
Global Medical Image Management Market Report 2020 2027 Integration of PACS VNA with EMR Penetration of AI Adoption of Hybrid & Cloud Based Solutions DUBLIN Nov 11 2020 PRNewswire The Medical Image Management Market by Product PACS Departmental Radiology Mammography Cardiology Enterprise VNA On premise Hybrid Vendor PACS Independent Software Infrastructure AICA Universal Viewer and End User Global Forecast to 2027 report has been added to ResearchAndMarkets.coms offering. The medical image management market is expected to grow at a CAGR of 7.2 from 2020 to 2027 to reach 5.76 billion by 2027 The medical image management market study presents historical market data in terms of value 2018 and 2019 estimated current data 2020 and forecasts for 2027 by product end user and geography. The study also evaluates industry competitors and analyzes the market at a regional and country level. The factors such as growing investments in the medical imaging market technological advancements in diagnostic imaging modalities rising geriatric imaging volumes growing demand for advanced imaging equipment rapidly growing big data in healthcare and growing healthcare IT and EHR adoption are majorly driving the growth of the overall medical image management market. Also integration of PACS VNA with EMR untapped emerging markets penetration of artificial intelligence in medical imaging rapidly growing field of telehealth and hybrid cloud based solutions represent high growth opportunities for the players operating in this market. However the factors such as longer product lifecycle of VNAs and budgetary constraints restrict the growth of this market. Based on product type Picture Archive Communication System PACS is estimated to command the largest share of the overall medical image management market in 2020. However the vendor neutral archive segment is expected to grow at the highest CAGR during the forecast period owing to its greater security control over images and lower latency than cloud storage. Based on end user the hospitals segment is estimated to account for the largest share of the overall medical image management market in 2020 due to the factors such as increasing hospital expenditures for advanced management products rising number of emergency admissions and growing need to improve overall value based care. An in depth analysis of the geographic scenario of the medical image management market provides detailed qualitative and quantitative insights about the five major geographies North America Europe Asia Pacific Latin America and the Middle East & Africa along with the coverage of major countries in each region. North America is estimated to command the largest share of the global medical image management market in 2020 followed by Europe Asia Pacific Latin America and the Middle East & Africa. However Asia Pacific region is expected to grow at the fastest CAGR during the forecast period. The factors driving the growth of the Asia Pacific medical image management market are rising investment in the healthcare sector improving healthcare infrastructure increased adoption of medical imaging devices adoption of new technology into the healthcare industry and developments made for adoption of AI and telehealth services. Key Topics Covered 1.Introduction 2. Research Methodology 3. Executive Summary 4. Market Insights 4.1. Introduction 4.2. Drivers 4.2.1. Growing Investments in the Medical Imaging Market 4.2.2. Technological Advancements in Diagnostic Imaging Modalities 4.2.3. Rising Geriatric Population 4.2.4. Growing Demand for Imaging Equipment 4.2.5. Rapidly Growing Big Data in Healthcare 4.2.6. Growing Healthcare IT and EHR Adoption 4.3. Restraints 4.3.1. Longer Product Lifecycle of VNAs 4.3.2. Budgetary Constraints 4.4. Opportunities 4.4.1. Integration of PACS VNA with EMR 4.4.2. Untapped Emerging Markets 4.4.3. Penetration of AI in Medical Imaging 4.4.4. Adoption of Hybrid & Cloud Based Solutions 4.4.5. Rapidly Growing Telehealth Market 4.5. Challenges 4.5.1. Data Migration 4.5.2. Lack of Interoperability 4.6. Impact Assessment of Covid 19 5. Medical Image Management Market by Product 5.1. Introduction 5.2. Picture Archive Communication System PACS 5.2.1. PACS Market by Type 5.2.1.1. Departmental PACS 5.2.1.1.1. Radiology PACS 5.2.1.1.1.1. Traditional Mammography PACS 5.2.1.1.1.2. Vendor Neutral Mammography PACS 5.2.1.1.1.3. Other Radiology PACS 5.2.1.1.2. Cardiology PACS 5.2.1.1.3. Other Departmental PACS 5.2.1.2. Enterprise PACS 5.2.2. PACS Market by Delivery Model 5.2.2.1. On Premise PACS 5.2.2.2. Web Cloud Based PACS 5.3. Vendor Neutral Archive VNA 5.3.1. VNA Market by Delivery Model 5.3.1.1. On Premise VNA 5.3.1.2. Hybrid VNA 5.3.1.3. Web Cloud Based VNA 5.3.2. VNA Market by Procurement Model 5.3.2.1. Enterprise VNA 5.3.2.1.1. Multi Departmental VNA 5.3.2.1.2. Multi Site VNA 5.3.2.2. Departmental VNA 5.3.3. VNA Market by Vendor Type 5.3.3.1. Independent Software Vendors 5.3.3.2. PACS Vendors 5.3.3.3. Infrastructure Vendors 5.4. Application Independent Clinical Archives AICA 5.4.1. AICA Market by Vendor Type 5.4.1.1. VNA Vendors 5.4.1.2. Native AICA Vendors 5.5. Enterprise Viewer Universal Viewer 6. Medical Management Market by End User 6.1. Introduction 6.2. Hospitals 6.3. Diagnostic Imaging Centers 6.4. Other End Users 7. Medical Image Management Market by Geography 8. Competitive Landscape 8.1. Introduction 8.2. Key Growth Strategies 8.3. Competitive Benchmarking 8.3.1. Competitive Benchmarking by Product 8.4. Market Share Analysis 2019 8.4.1. Market Share Analysis Picture Archiving Communication Systems PACS Industry 8.4.1.1. GE Company 8.4.1.2. Koninklijke Philips N.V. 8.4.1.3. Fujifilm Holdings Corporation 8.4.2. Market Share Analysis Vendor Neutral Archive Industry 8.4.2.1. IBM Corporation 8.4.2.2. GE Company 8.4.2.3. Fujifilm Holdings Corporation 9. Company Profiles Business Overview Product Portfolio Financial Overview Strategic Developments 9.1. Novarad Corporation 9.2. Koninklijke Philips N.V. 9.3. INFINITT Healthcare Co Ltd 9.4. Siemens Healthineers AG 9.5. Hyland Software Inc 9.6. Agfa Gevaert Group 9.7. General Electric Company 9.8. Mach7 Technologies 9.9. BridgeHead Software Ltd 9.10. Fujifilm Holdings Corporation 9.11. IBM Corporation 9.12. Sectra AB 9.13. Change Healthcare Inc For more information about this report visit https www.researchandmarkets.com r e0st56 Research and Markets also offers Custom Research services providing focused comprehensive and tailored research. Media Contact Research and Markets Laura Wood Senior Manager emailprotected For E.S.T Office Hours Call 1 917 300 0470 For U.S. CAN Toll Free Call 1 800 526 8630 For GMT Office Hours Call 353 1 416 8900 U.S. Fax 646 607 1907 Fax outside U.S. 353 1 481 1716 SOURCE Research and Markets Related Links http www.researchandmarkets.com
Chinese News:
近日环球烟草公布财报，公告显示该公司2020财年第一财季归属于母公司普通股股东净利润为727.40万美元，同比增长251.06%；营业收入为3.16亿美元，同比上涨6.36%。Universal Corporation是一家领先的烟叶烟草供应商，在5大洲超过30个国家都有业务。
Japanese News:
米バージニア州リッチモンドに本社を置く世界的な葉タバコ供給企業ユニバーサル・コーポレーション（Universal Corporation）は、2020年9月30日に終了した2021会計年度第2四半期（7月～9月）の決算を発表した。同期の売上高は前年同期比20.8％減の3億7,702万5,000ドル、純利益は前年同期比73.3％減の750万2,000ドル（1株あたり利益0.30ドル）となり、大幅な減収減益となった。 営業利益も前年同期の4,319万9,000ドルから1,635万1,000ドルへと大きく減少。売上高および利益の減少は、主に販売量の減少と葉タバコの価格下落によるものである。一方、売上原価は前年同期比で約18.9％減の3億826万7,000ドル、販売管理費はほぼ横ばいの5,240万7,000ドルとなった。 地域別の内訳では、ブラジルを含む「その他地域」セグメントにおいて販売量が減少し、利益を圧迫した。また、COVID-19の影響により、一部地域で出荷および処理が遅延したこともマイナス要因として働いた。 一方、2021年度上半期（4月～9月）の累計では、売上高が前年同期比10.4％減の6億9,283万6,000ドル、純利益は51.0％減の1,477万6,000ドルとなった。COVID-19による処理遅延や物流障害の影響を受けたことが主因である。 同社は引き続き、世界各地でのCOVID-19の動向を注視しており、今後も慎重に対応していくとしている。
Spanish News:
Universal (UVV) comunicó a última hora del jueves unos ingresos netos ajustados en el segundo trimestre fiscal de 0,37 dólares por acción diluida, lo que supone un importante descenso respecto a los 1,14 dólares del año anterior. Los ingresos de los tres meses terminados el 30 de septiembre ascendieron a 377 millones de dólares, frente a los 475,9 millones del año pasado. Las estimaciones de los analistas no estaban disponibles. El consejo de administración de la empresa ha aprobado un programa de recompra de acciones por valor de 100 millones de dólares, y tiene unos 24,5 millones de acciones ordinarias en circulación. Las acciones de la tabaquera subieron un 1,7% en las primeras operaciones del viernes. Precio: 41,39, Cambio: +0,67, Cambio porcentual: +1.65
Greek News:
Η UVV παρουσίασε αυξημένα επίπεδα καθαρού χρέους στο τέλος του τρίτου τριμήνου του 2020, αντανακλώντας την επίδραση στρατηγικών επενδυτικών κινήσεων, όπως η εξαγορά της FruitSmart τον Ιανουάριο του ίδιου έτους. Συγκεκριμένα, το καθαρό χρέος ως ποσοστό της καθαρής κεφαλαιοποίησης ανήλθε σε περίπου 31% στις 30 Σεπτεμβρίου 2020, σημειώνοντας άνοδο σε σύγκριση με το αντίστοιχο επίπεδο της 30 Σεπτεμβρίου 2019 (περίπου 27%) και της 31ης Μαρτίου 2020 (περίπου 22%). Η αύξηση αυτή αποδίδεται κυρίως σε πρόσθετους δανεισμούς που σχετίζονται εν μέρει με την προαναφερθείσα εξαγορά. Την ίδια χρονική περίοδο, η εταιρεία διέθετε $ 57,1 εκατομμύρια σε μετρητά και ισοδύναμα, ενώ το βραχυπρόθεσμο χρέος διαμορφωνόταν στα $ 235,4 εκατομμύρια. Η UVV τήρησε πλήρως τους όρους των δανειακών συμβάσεων, οι οποίοι περιλαμβάνουν απαιτήσεις διατήρησης ελαχίστων επιπέδων απτής καθαρής θέσης και περιορισμούς στη μόχλευση. Η εύλογη αξία του συνολικού μακροπρόθεσμου χρέους, συμπεριλαμβανομένου του τρέχοντος μέρους, εκτιμήθηκε σε περίπου $ 370 εκατομμύρια στις 30 Σεπτεμβρίου 2020, όπως και στις προηγούμενες συγκριτικές ημερομηνίες των ισολογισμών. Η αποτίμηση βασίζεται σε εισροές Επιπέδου 2, λαμβάνοντας υπόψη τις τρέχουσες αγοραίες συνθήκες και διαθέσιμα επιτόκια για παρόμοιες υποχρεώσεις.
Question:
Please list the top three focuses on revenue from news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | Please list the top three focuses on revenue from news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: The news focuses on: 1) Declining sales volume and lower tobacco prices driving revenue decrease; 2) COVID-19 impact causing shipping and processing delays affecting operations; 3) Regional performance issues, particularly in Brazil and "Other regions" segment experiencing reduced sales volumes.
Financial Statement Evidence: Revenue decreased from $475,921 thousand to $377,025 thousand for the three months ended September 30 (year-over-year decline of $98,896 thousand). |
UVV_20201105 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 |
|:------------------------------------------------------|:-----------|:--------------|:-----------|:--------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | |
| | | September 30, | | September 30, | | March 31, | | | | | | | | | | | | | | |
| | | 2020 | | 2019 | | 2020 | | | | | | | | | | | | | | |
| | | (Unaudited) | | (Unaudited) | | | | | | | | | | | | | | | | |
| ASSETS | | | | | | | | | | | | | | | | | | | | |
| Current assets | | | | | | | | | | | | | | | | | | | | |
| Cash and cash equivalents | | $ | 57,084 | | | $ | 53,173 | | | $ | 107,430 | | | | | | | | | |
| Accounts receivable, net | | 329,332 | | | 337,825 | | | 340,711 | | | | | | | | | | | | |
| Advances to suppliers, net | | 65,643 | | | 75,828 | | | 133,778 | | | | | | | | | | | | |
| Accounts receivable—unconsolidated affiliates | | 47,807 | | | 82,812 | | | 11,483 | | | | | | | | | | | | |
| Inventories—at lower of cost or net realizable value: | | | | | | | | | | | | | | | | | | | | |
| Tobacco | | 888,213 | | | 918,592 | | | 707,298 | | | | | | | | | | | | |
| Other | | 116,299 | | | 97,536 | | | 99,275 | | | | | | | | | | | | |
| Prepaid income taxes | | 20,712 | | | 13,454 | | | 12,144 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Other current assets | | 69,564 | | | 70,338 | | | 67,498 | | | | | | | | | | | | |
| Total current assets | | 1,594,654 | | | 1,649,558 | | | 1,479,617 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Property, plant and equipment | | | | | | | | | | | | | | | | | | | | |
| Land | | 21,515 | | | 22,696 | | | 21,376 | | | | | | | | | | | | |
| Buildings | | 259,875 | | | 261,599 | | | 256,488 | | | | | | | | | | | | |
| Machinery and equipment | | 657,435 | | | 609,320 | | | 634,395 | | | | | | | | | | | | |
| | | 938,825 | | | 893,615 | | | 912,259 | | | | | | | | | | | | |
| Less accumulated depreciation | | (617,553) | | | (598,184) | | | (597,106) | | | | | | | | | | | | |
| | | 321,272 | | | 295,431 | | | 315,153 | | | | | | | | | | | | |
| Other assets | | | | | | | | | | | | | | | | | | | | |
| Operating lease right-of-use assets | | 35,665 | | | 34,838 | | | 39,256 | | | | | | | | | | | | |
| Goodwill and other intangibles, net | | 143,219 | | | 97,998 | | | 144,687 | | | | | | | | | | | | |
| Investments in unconsolidated affiliates | | 82,628 | | | 79,072 | | | 77,543 | | | | | | | | | | | | |
| Deferred income taxes | | 22,615 | | | 16,250 | | | 20,954 | | | | | | | | | | | | |
| Other noncurrent assets | | 42,239 | | | 45,085 | | | 43,711 | | | | | | | | | | | | |
| | | 326,366 | | | 273,243 | | | 326,151 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Total assets | | $ | 2,242,292 | | | $ | 2,218,232 | | | $ | 2,120,921 | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 |
|:--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-----------|:--------------|:-----------|:--------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | |
| | | September 30, | | September 30, | | March 31, | | | | | | | | | | | | | | |
| | | 2020 | | 2019 | | 2020 | | | | | | | | | | | | | | |
| | | (Unaudited) | | (Unaudited) | | | | | | | | | | | | | | | | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | | | | | | | | | | | | | | |
| Current liabilities | | | | | | | | | | | | | | | | | | | | |
| Notes payable and overdrafts | | $ | 235,413 | | | $ | 155,352 | | | $ | 78,033 | | | | | | | | | |
| Accounts payable and accrued expenses | | 133,034 | | | 158,731 | | | 140,202 | | | | | | | | | | | | |
| Accounts payable—unconsolidated affiliates | | 117 | | | 56 | | | 55 | | | | | | | | | | | | |
| Customer advances and deposits | | 8,049 | | | 6,513 | | | 10,242 | | | | | | | | | | | | |
| Accrued compensation | | 19,499 | | | 22,046 | | | 23,710 | | | | | | | | | | | | |
| Income taxes payable | | 2,947 | | | 1,155 | | | 5,334 | | | | | | | | | | | | |
| Current portion of operating lease liabilities | | 9,105 | | | 8,591 | | | 9,823 | | | | | | | | | | | | |
| Current portion of long-term debt | | — | | | — | | | — | | | | | | | | | | | | |
| Total current liabilities | | 408,164 | | | 352,444 | | | 267,399 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Long-term debt | | 368,894 | | | 368,633 | | | 368,764 | | | | | | | | | | | | |
| Pensions and other postretirement benefits | | 64,947 | | | 54,113 | | | 70,680 | | | | | | | | | | | | |
| Long-term operating lease liabilities | | 22,813 | | | 23,331 | | | 25,893 | | | | | | | | | | | | |
| Other long-term liabilities | | 72,657 | | | 56,146 | | | 69,427 | | | | | | | | | | | | |
| Deferred income taxes | | 25,941 | | | 24,982 | | | 29,474 | | | | | | | | | | | | |
| Total liabilities | | 963,416 | | | 879,649 | | | 831,637 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Shareholders’ equity | | | | | | | | | | | | | | | | | | | | |
| Universal Corporation: | | | | | | | | | | | | | | | | | | | | |
| Preferred stock: | | | | | | | | | | | | | | | | | | | | |
| Series A Junior Participating Preferred Stock, no par value,500,000shares authorized,noneissued or outstanding | | — | | | — | | | — | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Common stock, no par value,100,000,000shares authorized24,514,867shares issued and outstanding at September 30, 2020 (24,841,863at September 30, 2019 and24,421,835at March 31, 2020) | | 323,761 | | | 324,927 | | | 321,502 | | | | | | | | | | | | |
| Retained earnings | | 1,053,295 | | | 1,088,608 | | | 1,076,760 | | | | | | | | | | | | |
| Accumulated other comprehensive loss | | (137,556) | | | (114,876) | | | (151,597) | | | | | | | | | | | | |
| Total Universal Corporation shareholders' equity | | 1,239,500 | | | 1,298,659 | | | 1,246,665 | | | | | | | | | | | | |
| Noncontrolling interests in subsidiaries | | 39,376 | | | 39,924 | | | 42,619 | | | | | | | | | | | | |
| Total shareholders' equity | | 1,278,876 | | | 1,338,583 | | | 1,289,284 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Total liabilities and shareholders' equity | | $ | 2,242,292 | | | $ | 2,218,232 | | | $ | 2,120,921 | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 |
|:--------------------------------------------------------------------------------------|:-----------|:-------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | |
| | | Six Months Ended September 30, | | | | | | | | | | | | |
| | | 2020 | | 2019 | | | | | | | | | | |
| | | (Unaudited) | | | | | | | | | | | | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | | | | | | | | | | | | | | |
| Net income | | $ | 15,149 | | | $ | 30,642 | | | | | | | |
| Adjustments to reconcile net income to net cash used by operating activities: | | | | | | | | | | | | | | |
| Depreciation and amortization | | 20,381 | | | 18,231 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Net provision for losses (recoveries) on advances and guaranteed loans to suppliers | | 348 | | | (1,885) | | | | | | | | | |
| Foreign currency remeasurement (gain) loss, net | | (5,105) | | | 1,767 | | | | | | | | | |
| Foreign currency exchange contracts | | (8,169) | | | (773) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Restructuring payments | | (2,937) | | | (298) | | | | | | | | | |
| Change in estimated fair value of contingent consideration for FruitSmart acquisition | | (4,173) | | | — | | | | | | | | | |
| Other, net | | 3,049 | | | 472 | | | | | | | | | |
| Changes in operating assets and liabilities, net | | (168,502) | | | (327,975) | | | | | | | | | |
| Net cash provided (used) by operating activities | | (149,959) | | | (279,819) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | | | | | | | | |
| Purchase of property, plant and equipment | | (22,751) | | | (13,308) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Proceeds from sale of property, plant and equipment | | 1,780 | | | 1,254 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Net cash used by investing activities | | (20,971) | | | (12,054) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | | | | | | | |
| Issuance of short-term debt, net | | 162,646 | | | 104,003 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Dividends paid to noncontrolling interests | | (3,695) | | | (3,359) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Repurchase of common stock | | — | | | (12,338) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Dividends paid on common stock | | (37,424) | | | (37,721) | | | | | | | | | |
| Other | | (1,949) | | | (2,883) | | | | | | | | | |
| Net cash provided (used) by financing activities | | 119,578 | | | 47,702 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Effect of exchange rate changes on cash | | 1,006 | | | (212) | | | | | | | | | |
| Net decrease in cash and cash equivalents | | (50,346) | | | (244,383) | | | | | | | | | |
| Cash and cash equivalents at beginning of year | | 107,430 | | | 297,556 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Cash and cash equivalents at end of period | | $ | 57,084 | | | $ | 53,173 | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 | Column 22 | Column 23 | Column 24 | Column 25 | Column 26 | Column 27 |
|:----------------------------------------------------------------------------------|:-----------|:---------------------------------|:-----------|:-------------------------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Three Months Ended September 30, | | Six Months Ended September 30, | | | | | | | | | | | | | | | | | | | | | | |
| | | 2020 | | 2019 | | 2020 | | 2019 | | | | | | | | | | | | | | | | | | |
| | | (Unaudited) | | (Unaudited) | | | | | | | | | | | | | | | | | | | | | | |
| Sales and other operating revenues | | $ | 377,025 | | | $ | 475,921 | | | $ | 692,836 | | | $ | 772,836 | | | | | | | | | | | |
| Costs and expenses | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Cost of goods sold | | 308,267 | | | 379,892 | | | 570,313 | | | 618,157 | | | | | | | | | | | | | | | |
| Selling, general and administrative expenses | | 52,407 | | | 52,830 | | | 101,817 | | | 103,966 | | | | | | | | | | | | | | | |
| Other income | | — | | | — | | | (4,173) | | | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Operating income | | 16,351 | | | 43,199 | | | 24,879 | | | 50,713 | | | | | | | | | | | | | | | |
| Equity in pretax earnings (loss) of unconsolidated affiliates | | 590 | | | 2,310 | | | 583 | | | 2,350 | | | | | | | | | | | | | | | |
| Other non-operating income (expense) | | (20) | | | 633 | | | (38) | | | 1,260 | | | | | | | | | | | | | | | |
| Interest income | | 101 | | | 240 | | | 260 | | | 1,248 | | | | | | | | | | | | | | | |
| Interest expense | | 5,595 | | | 5,136 | | | 12,405 | | | 9,164 | | | | | | | | | | | | | | | |
| Income before income taxes and other items | | 11,427 | | | 41,246 | | | 13,279 | | | 46,407 | | | | | | | | | | | | | | | |
| Income taxes | | 3,178 | | | 11,499 | | | (1,870) | | | 15,765 | | | | | | | | | | | | | | | |
| Net income | | 8,249 | | | 29,747 | | | 15,149 | | | 30,642 | | | | | | | | | | | | | | | |
| Less: net loss (income) attributable to noncontrolling interests in subsidiaries | | (747) | | | (1,670) | | | (373) | | | (493) | | | | | | | | | | | | | | | |
| Net income attributable to Universal Corporation | | $ | 7,502 | | | $ | 28,077 | | | $ | 14,776 | | | $ | 30,149 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Earnings per share: | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | $ | 0.30 | | | $ | 1.12 | | | $ | 0.60 | | | $ | 1.20 | | | | | | | | | | | |
| Diluted | | $ | 0.30 | | | $ | 1.11 | | | $ | 0.60 | | | $ | 1.19 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Weighted average common shares outstanding: | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | 24,658,895 | | | 25,086,580 | | | 24,630,886 | | | 25,122,283 | | | | | | | | | | | | | | | |
| Diluted | | 24,770,421 | | | 25,197,325 | | | 24,737,134 | | | 25,240,600 | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Total comprehensive income, net of income taxes | | $ | 22,060 | | | $ | 14,908 | | | $ | 29,269 | | | $ | 11,456 | | | | | | | | | | | |
| Less: comprehensive income attributable to noncontrolling interests | | (982) | | | (1,546) | | | (452) | | | (492) | | | | | | | | | | | | | | | |
| Comprehensive income (loss) attributable to Universal Corporation | | $ | 21,078 | | | $ | 13,362 | | | $ | 28,817 | | | $ | 10,964 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Dividends declared per common share | | $ | 0.77 | | | $ | 0.76 | | | $ | 1.54 | | | $ | 1.52 | | | | | | | | | | | |
---
English News:
Global Medical Image Management Market Report 2020 2027 Integration of PACS VNA with EMR Penetration of AI Adoption of Hybrid & Cloud Based Solutions DUBLIN Nov 11 2020 PRNewswire The Medical Image Management Market by Product PACS Departmental Radiology Mammography Cardiology Enterprise VNA On premise Hybrid Vendor PACS Independent Software Infrastructure AICA Universal Viewer and End User Global Forecast to 2027 report has been added to ResearchAndMarkets.coms offering. The medical image management market is expected to grow at a CAGR of 7.2 from 2020 to 2027 to reach 5.76 billion by 2027 The medical image management market study presents historical market data in terms of value 2018 and 2019 estimated current data 2020 and forecasts for 2027 by product end user and geography. The study also evaluates industry competitors and analyzes the market at a regional and country level. The factors such as growing investments in the medical imaging market technological advancements in diagnostic imaging modalities rising geriatric imaging volumes growing demand for advanced imaging equipment rapidly growing big data in healthcare and growing healthcare IT and EHR adoption are majorly driving the growth of the overall medical image management market. Also integration of PACS VNA with EMR untapped emerging markets penetration of artificial intelligence in medical imaging rapidly growing field of telehealth and hybrid cloud based solutions represent high growth opportunities for the players operating in this market. However the factors such as longer product lifecycle of VNAs and budgetary constraints restrict the growth of this market. Based on product type Picture Archive Communication System PACS is estimated to command the largest share of the overall medical image management market in 2020. However the vendor neutral archive segment is expected to grow at the highest CAGR during the forecast period owing to its greater security control over images and lower latency than cloud storage. Based on end user the hospitals segment is estimated to account for the largest share of the overall medical image management market in 2020 due to the factors such as increasing hospital expenditures for advanced management products rising number of emergency admissions and growing need to improve overall value based care. An in depth analysis of the geographic scenario of the medical image management market provides detailed qualitative and quantitative insights about the five major geographies North America Europe Asia Pacific Latin America and the Middle East & Africa along with the coverage of major countries in each region. North America is estimated to command the largest share of the global medical image management market in 2020 followed by Europe Asia Pacific Latin America and the Middle East & Africa. However Asia Pacific region is expected to grow at the fastest CAGR during the forecast period. The factors driving the growth of the Asia Pacific medical image management market are rising investment in the healthcare sector improving healthcare infrastructure increased adoption of medical imaging devices adoption of new technology into the healthcare industry and developments made for adoption of AI and telehealth services. Key Topics Covered 1.Introduction 2. Research Methodology 3. Executive Summary 4. Market Insights 4.1. Introduction 4.2. Drivers 4.2.1. Growing Investments in the Medical Imaging Market 4.2.2. Technological Advancements in Diagnostic Imaging Modalities 4.2.3. Rising Geriatric Population 4.2.4. Growing Demand for Imaging Equipment 4.2.5. Rapidly Growing Big Data in Healthcare 4.2.6. Growing Healthcare IT and EHR Adoption 4.3. Restraints 4.3.1. Longer Product Lifecycle of VNAs 4.3.2. Budgetary Constraints 4.4. Opportunities 4.4.1. Integration of PACS VNA with EMR 4.4.2. Untapped Emerging Markets 4.4.3. Penetration of AI in Medical Imaging 4.4.4. Adoption of Hybrid & Cloud Based Solutions 4.4.5. Rapidly Growing Telehealth Market 4.5. Challenges 4.5.1. Data Migration 4.5.2. Lack of Interoperability 4.6. Impact Assessment of Covid 19 5. Medical Image Management Market by Product 5.1. Introduction 5.2. Picture Archive Communication System PACS 5.2.1. PACS Market by Type 5.2.1.1. Departmental PACS 5.2.1.1.1. Radiology PACS 5.2.1.1.1.1. Traditional Mammography PACS 5.2.1.1.1.2. Vendor Neutral Mammography PACS 5.2.1.1.1.3. Other Radiology PACS 5.2.1.1.2. Cardiology PACS 5.2.1.1.3. Other Departmental PACS 5.2.1.2. Enterprise PACS 5.2.2. PACS Market by Delivery Model 5.2.2.1. On Premise PACS 5.2.2.2. Web Cloud Based PACS 5.3. Vendor Neutral Archive VNA 5.3.1. VNA Market by Delivery Model 5.3.1.1. On Premise VNA 5.3.1.2. Hybrid VNA 5.3.1.3. Web Cloud Based VNA 5.3.2. VNA Market by Procurement Model 5.3.2.1. Enterprise VNA 5.3.2.1.1. Multi Departmental VNA 5.3.2.1.2. Multi Site VNA 5.3.2.2. Departmental VNA 5.3.3. VNA Market by Vendor Type 5.3.3.1. Independent Software Vendors 5.3.3.2. PACS Vendors 5.3.3.3. Infrastructure Vendors 5.4. Application Independent Clinical Archives AICA 5.4.1. AICA Market by Vendor Type 5.4.1.1. VNA Vendors 5.4.1.2. Native AICA Vendors 5.5. Enterprise Viewer Universal Viewer 6. Medical Management Market by End User 6.1. Introduction 6.2. Hospitals 6.3. Diagnostic Imaging Centers 6.4. Other End Users 7. Medical Image Management Market by Geography 8. Competitive Landscape 8.1. Introduction 8.2. Key Growth Strategies 8.3. Competitive Benchmarking 8.3.1. Competitive Benchmarking by Product 8.4. Market Share Analysis 2019 8.4.1. Market Share Analysis Picture Archiving Communication Systems PACS Industry 8.4.1.1. GE Company 8.4.1.2. Koninklijke Philips N.V. 8.4.1.3. Fujifilm Holdings Corporation 8.4.2. Market Share Analysis Vendor Neutral Archive Industry 8.4.2.1. IBM Corporation 8.4.2.2. GE Company 8.4.2.3. Fujifilm Holdings Corporation 9. Company Profiles Business Overview Product Portfolio Financial Overview Strategic Developments 9.1. Novarad Corporation 9.2. Koninklijke Philips N.V. 9.3. INFINITT Healthcare Co Ltd 9.4. Siemens Healthineers AG 9.5. Hyland Software Inc 9.6. Agfa Gevaert Group 9.7. General Electric Company 9.8. Mach7 Technologies 9.9. BridgeHead Software Ltd 9.10. Fujifilm Holdings Corporation 9.11. IBM Corporation 9.12. Sectra AB 9.13. Change Healthcare Inc For more information about this report visit https www.researchandmarkets.com r e0st56 Research and Markets also offers Custom Research services providing focused comprehensive and tailored research. Media Contact Research and Markets Laura Wood Senior Manager emailprotected For E.S.T Office Hours Call 1 917 300 0470 For U.S. CAN Toll Free Call 1 800 526 8630 For GMT Office Hours Call 353 1 416 8900 U.S. Fax 646 607 1907 Fax outside U.S. 353 1 481 1716 SOURCE Research and Markets Related Links http www.researchandmarkets.com
Chinese News:
近日环球烟草公布财报，公告显示该公司2020财年第一财季归属于母公司普通股股东净利润为727.40万美元，同比增长251.06%；营业收入为3.16亿美元，同比上涨6.36%。Universal Corporation是一家领先的烟叶烟草供应商，在5大洲超过30个国家都有业务。
Japanese News:
米バージニア州リッチモンドに本社を置く世界的な葉タバコ供給企業ユニバーサル・コーポレーション（Universal Corporation）は、2020年9月30日に終了した2021会計年度第2四半期（7月～9月）の決算を発表した。同期の売上高は前年同期比20.8％減の3億7,702万5,000ドル、純利益は前年同期比73.3％減の750万2,000ドル（1株あたり利益0.30ドル）となり、大幅な減収減益となった。 営業利益も前年同期の4,319万9,000ドルから1,635万1,000ドルへと大きく減少。売上高および利益の減少は、主に販売量の減少と葉タバコの価格下落によるものである。一方、売上原価は前年同期比で約18.9％減の3億826万7,000ドル、販売管理費はほぼ横ばいの5,240万7,000ドルとなった。 地域別の内訳では、ブラジルを含む「その他地域」セグメントにおいて販売量が減少し、利益を圧迫した。また、COVID-19の影響により、一部地域で出荷および処理が遅延したこともマイナス要因として働いた。 一方、2021年度上半期（4月～9月）の累計では、売上高が前年同期比10.4％減の6億9,283万6,000ドル、純利益は51.0％減の1,477万6,000ドルとなった。COVID-19による処理遅延や物流障害の影響を受けたことが主因である。 同社は引き続き、世界各地でのCOVID-19の動向を注視しており、今後も慎重に対応していくとしている。
Spanish News:
Universal (UVV) comunicó a última hora del jueves unos ingresos netos ajustados en el segundo trimestre fiscal de 0,37 dólares por acción diluida, lo que supone un importante descenso respecto a los 1,14 dólares del año anterior. Los ingresos de los tres meses terminados el 30 de septiembre ascendieron a 377 millones de dólares, frente a los 475,9 millones del año pasado. Las estimaciones de los analistas no estaban disponibles. El consejo de administración de la empresa ha aprobado un programa de recompra de acciones por valor de 100 millones de dólares, y tiene unos 24,5 millones de acciones ordinarias en circulación. Las acciones de la tabaquera subieron un 1,7% en las primeras operaciones del viernes. Precio: 41,39, Cambio: +0,67, Cambio porcentual: +1.65
Greek News:
Η UVV παρουσίασε αυξημένα επίπεδα καθαρού χρέους στο τέλος του τρίτου τριμήνου του 2020, αντανακλώντας την επίδραση στρατηγικών επενδυτικών κινήσεων, όπως η εξαγορά της FruitSmart τον Ιανουάριο του ίδιου έτους. Συγκεκριμένα, το καθαρό χρέος ως ποσοστό της καθαρής κεφαλαιοποίησης ανήλθε σε περίπου 31% στις 30 Σεπτεμβρίου 2020, σημειώνοντας άνοδο σε σύγκριση με το αντίστοιχο επίπεδο της 30 Σεπτεμβρίου 2019 (περίπου 27%) και της 31ης Μαρτίου 2020 (περίπου 22%). Η αύξηση αυτή αποδίδεται κυρίως σε πρόσθετους δανεισμούς που σχετίζονται εν μέρει με την προαναφερθείσα εξαγορά. Την ίδια χρονική περίοδο, η εταιρεία διέθετε $ 57,1 εκατομμύρια σε μετρητά και ισοδύναμα, ενώ το βραχυπρόθεσμο χρέος διαμορφωνόταν στα $ 235,4 εκατομμύρια. Η UVV τήρησε πλήρως τους όρους των δανειακών συμβάσεων, οι οποίοι περιλαμβάνουν απαιτήσεις διατήρησης ελαχίστων επιπέδων απτής καθαρής θέσης και περιορισμούς στη μόχλευση. Η εύλογη αξία του συνολικού μακροπρόθεσμου χρέους, συμπεριλαμβανομένου του τρέχοντος μέρους, εκτιμήθηκε σε περίπου $ 370 εκατομμύρια στις 30 Σεπτεμβρίου 2020, όπως και στις προηγούμενες συγκριτικές ημερομηνίες των ισολογισμών. Η αποτίμηση βασίζεται σε εισροές Επιπέδου 2, λαμβάνοντας υπόψη τις τρέχουσες αγοραίες συνθήκες και διαθέσιμα επιτόκια για παρόμοιες υποχρεώσεις.
Question:
How is the company allocating capital (e.g., investments, share repurchases, dividends) based on its performance and market outlook from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | How is the company allocating capital (e.g., investments, share repurchases, dividends) based on its performance and market outlook from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: The company's board approved a $100 million share repurchase program. During the six months ended September 30, 2020, the company paid $37.4 million in dividends to common shareholders and $3.7 million to noncontrolling interests. Capital expenditures totaled $22.8 million, focused on strategic investment initiatives including the FruitSmart acquisition completed in January 2020.
Financial Statement Evidence:
Dividends paid on common stock: $37,424 thousand (2020)
Repurchase of common stock: $0 (2020) vs $12,338 thousand (2019)
Purchase of property, plant and equipment: $22,751 thousand (2020) |
UVV_20201105 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 |
|:------------------------------------------------------|:-----------|:--------------|:-----------|:--------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | |
| | | September 30, | | September 30, | | March 31, | | | | | | | | | | | | | | |
| | | 2020 | | 2019 | | 2020 | | | | | | | | | | | | | | |
| | | (Unaudited) | | (Unaudited) | | | | | | | | | | | | | | | | |
| ASSETS | | | | | | | | | | | | | | | | | | | | |
| Current assets | | | | | | | | | | | | | | | | | | | | |
| Cash and cash equivalents | | $ | 57,084 | | | $ | 53,173 | | | $ | 107,430 | | | | | | | | | |
| Accounts receivable, net | | 329,332 | | | 337,825 | | | 340,711 | | | | | | | | | | | | |
| Advances to suppliers, net | | 65,643 | | | 75,828 | | | 133,778 | | | | | | | | | | | | |
| Accounts receivable—unconsolidated affiliates | | 47,807 | | | 82,812 | | | 11,483 | | | | | | | | | | | | |
| Inventories—at lower of cost or net realizable value: | | | | | | | | | | | | | | | | | | | | |
| Tobacco | | 888,213 | | | 918,592 | | | 707,298 | | | | | | | | | | | | |
| Other | | 116,299 | | | 97,536 | | | 99,275 | | | | | | | | | | | | |
| Prepaid income taxes | | 20,712 | | | 13,454 | | | 12,144 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Other current assets | | 69,564 | | | 70,338 | | | 67,498 | | | | | | | | | | | | |
| Total current assets | | 1,594,654 | | | 1,649,558 | | | 1,479,617 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Property, plant and equipment | | | | | | | | | | | | | | | | | | | | |
| Land | | 21,515 | | | 22,696 | | | 21,376 | | | | | | | | | | | | |
| Buildings | | 259,875 | | | 261,599 | | | 256,488 | | | | | | | | | | | | |
| Machinery and equipment | | 657,435 | | | 609,320 | | | 634,395 | | | | | | | | | | | | |
| | | 938,825 | | | 893,615 | | | 912,259 | | | | | | | | | | | | |
| Less accumulated depreciation | | (617,553) | | | (598,184) | | | (597,106) | | | | | | | | | | | | |
| | | 321,272 | | | 295,431 | | | 315,153 | | | | | | | | | | | | |
| Other assets | | | | | | | | | | | | | | | | | | | | |
| Operating lease right-of-use assets | | 35,665 | | | 34,838 | | | 39,256 | | | | | | | | | | | | |
| Goodwill and other intangibles, net | | 143,219 | | | 97,998 | | | 144,687 | | | | | | | | | | | | |
| Investments in unconsolidated affiliates | | 82,628 | | | 79,072 | | | 77,543 | | | | | | | | | | | | |
| Deferred income taxes | | 22,615 | | | 16,250 | | | 20,954 | | | | | | | | | | | | |
| Other noncurrent assets | | 42,239 | | | 45,085 | | | 43,711 | | | | | | | | | | | | |
| | | 326,366 | | | 273,243 | | | 326,151 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Total assets | | $ | 2,242,292 | | | $ | 2,218,232 | | | $ | 2,120,921 | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 |
|:--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-----------|:--------------|:-----------|:--------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | |
| | | September 30, | | September 30, | | March 31, | | | | | | | | | | | | | | |
| | | 2020 | | 2019 | | 2020 | | | | | | | | | | | | | | |
| | | (Unaudited) | | (Unaudited) | | | | | | | | | | | | | | | | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | | | | | | | | | | | | | | |
| Current liabilities | | | | | | | | | | | | | | | | | | | | |
| Notes payable and overdrafts | | $ | 235,413 | | | $ | 155,352 | | | $ | 78,033 | | | | | | | | | |
| Accounts payable and accrued expenses | | 133,034 | | | 158,731 | | | 140,202 | | | | | | | | | | | | |
| Accounts payable—unconsolidated affiliates | | 117 | | | 56 | | | 55 | | | | | | | | | | | | |
| Customer advances and deposits | | 8,049 | | | 6,513 | | | 10,242 | | | | | | | | | | | | |
| Accrued compensation | | 19,499 | | | 22,046 | | | 23,710 | | | | | | | | | | | | |
| Income taxes payable | | 2,947 | | | 1,155 | | | 5,334 | | | | | | | | | | | | |
| Current portion of operating lease liabilities | | 9,105 | | | 8,591 | | | 9,823 | | | | | | | | | | | | |
| Current portion of long-term debt | | — | | | — | | | — | | | | | | | | | | | | |
| Total current liabilities | | 408,164 | | | 352,444 | | | 267,399 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Long-term debt | | 368,894 | | | 368,633 | | | 368,764 | | | | | | | | | | | | |
| Pensions and other postretirement benefits | | 64,947 | | | 54,113 | | | 70,680 | | | | | | | | | | | | |
| Long-term operating lease liabilities | | 22,813 | | | 23,331 | | | 25,893 | | | | | | | | | | | | |
| Other long-term liabilities | | 72,657 | | | 56,146 | | | 69,427 | | | | | | | | | | | | |
| Deferred income taxes | | 25,941 | | | 24,982 | | | 29,474 | | | | | | | | | | | | |
| Total liabilities | | 963,416 | | | 879,649 | | | 831,637 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Shareholders’ equity | | | | | | | | | | | | | | | | | | | | |
| Universal Corporation: | | | | | | | | | | | | | | | | | | | | |
| Preferred stock: | | | | | | | | | | | | | | | | | | | | |
| Series A Junior Participating Preferred Stock, no par value,500,000shares authorized,noneissued or outstanding | | — | | | — | | | — | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Common stock, no par value,100,000,000shares authorized24,514,867shares issued and outstanding at September 30, 2020 (24,841,863at September 30, 2019 and24,421,835at March 31, 2020) | | 323,761 | | | 324,927 | | | 321,502 | | | | | | | | | | | | |
| Retained earnings | | 1,053,295 | | | 1,088,608 | | | 1,076,760 | | | | | | | | | | | | |
| Accumulated other comprehensive loss | | (137,556) | | | (114,876) | | | (151,597) | | | | | | | | | | | | |
| Total Universal Corporation shareholders' equity | | 1,239,500 | | | 1,298,659 | | | 1,246,665 | | | | | | | | | | | | |
| Noncontrolling interests in subsidiaries | | 39,376 | | | 39,924 | | | 42,619 | | | | | | | | | | | | |
| Total shareholders' equity | | 1,278,876 | | | 1,338,583 | | | 1,289,284 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Total liabilities and shareholders' equity | | $ | 2,242,292 | | | $ | 2,218,232 | | | $ | 2,120,921 | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 |
|:--------------------------------------------------------------------------------------|:-----------|:-------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | |
| | | Six Months Ended September 30, | | | | | | | | | | | | |
| | | 2020 | | 2019 | | | | | | | | | | |
| | | (Unaudited) | | | | | | | | | | | | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | | | | | | | | | | | | | | |
| Net income | | $ | 15,149 | | | $ | 30,642 | | | | | | | |
| Adjustments to reconcile net income to net cash used by operating activities: | | | | | | | | | | | | | | |
| Depreciation and amortization | | 20,381 | | | 18,231 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Net provision for losses (recoveries) on advances and guaranteed loans to suppliers | | 348 | | | (1,885) | | | | | | | | | |
| Foreign currency remeasurement (gain) loss, net | | (5,105) | | | 1,767 | | | | | | | | | |
| Foreign currency exchange contracts | | (8,169) | | | (773) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Restructuring payments | | (2,937) | | | (298) | | | | | | | | | |
| Change in estimated fair value of contingent consideration for FruitSmart acquisition | | (4,173) | | | — | | | | | | | | | |
| Other, net | | 3,049 | | | 472 | | | | | | | | | |
| Changes in operating assets and liabilities, net | | (168,502) | | | (327,975) | | | | | | | | | |
| Net cash provided (used) by operating activities | | (149,959) | | | (279,819) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | | | | | | | | |
| Purchase of property, plant and equipment | | (22,751) | | | (13,308) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Proceeds from sale of property, plant and equipment | | 1,780 | | | 1,254 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Net cash used by investing activities | | (20,971) | | | (12,054) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | | | | | | | |
| Issuance of short-term debt, net | | 162,646 | | | 104,003 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Dividends paid to noncontrolling interests | | (3,695) | | | (3,359) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Repurchase of common stock | | — | | | (12,338) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Dividends paid on common stock | | (37,424) | | | (37,721) | | | | | | | | | |
| Other | | (1,949) | | | (2,883) | | | | | | | | | |
| Net cash provided (used) by financing activities | | 119,578 | | | 47,702 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Effect of exchange rate changes on cash | | 1,006 | | | (212) | | | | | | | | | |
| Net decrease in cash and cash equivalents | | (50,346) | | | (244,383) | | | | | | | | | |
| Cash and cash equivalents at beginning of year | | 107,430 | | | 297,556 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Cash and cash equivalents at end of period | | $ | 57,084 | | | $ | 53,173 | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 | Column 22 | Column 23 | Column 24 | Column 25 | Column 26 | Column 27 |
|:----------------------------------------------------------------------------------|:-----------|:---------------------------------|:-----------|:-------------------------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Three Months Ended September 30, | | Six Months Ended September 30, | | | | | | | | | | | | | | | | | | | | | | |
| | | 2020 | | 2019 | | 2020 | | 2019 | | | | | | | | | | | | | | | | | | |
| | | (Unaudited) | | (Unaudited) | | | | | | | | | | | | | | | | | | | | | | |
| Sales and other operating revenues | | $ | 377,025 | | | $ | 475,921 | | | $ | 692,836 | | | $ | 772,836 | | | | | | | | | | | |
| Costs and expenses | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Cost of goods sold | | 308,267 | | | 379,892 | | | 570,313 | | | 618,157 | | | | | | | | | | | | | | | |
| Selling, general and administrative expenses | | 52,407 | | | 52,830 | | | 101,817 | | | 103,966 | | | | | | | | | | | | | | | |
| Other income | | — | | | — | | | (4,173) | | | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Operating income | | 16,351 | | | 43,199 | | | 24,879 | | | 50,713 | | | | | | | | | | | | | | | |
| Equity in pretax earnings (loss) of unconsolidated affiliates | | 590 | | | 2,310 | | | 583 | | | 2,350 | | | | | | | | | | | | | | | |
| Other non-operating income (expense) | | (20) | | | 633 | | | (38) | | | 1,260 | | | | | | | | | | | | | | | |
| Interest income | | 101 | | | 240 | | | 260 | | | 1,248 | | | | | | | | | | | | | | | |
| Interest expense | | 5,595 | | | 5,136 | | | 12,405 | | | 9,164 | | | | | | | | | | | | | | | |
| Income before income taxes and other items | | 11,427 | | | 41,246 | | | 13,279 | | | 46,407 | | | | | | | | | | | | | | | |
| Income taxes | | 3,178 | | | 11,499 | | | (1,870) | | | 15,765 | | | | | | | | | | | | | | | |
| Net income | | 8,249 | | | 29,747 | | | 15,149 | | | 30,642 | | | | | | | | | | | | | | | |
| Less: net loss (income) attributable to noncontrolling interests in subsidiaries | | (747) | | | (1,670) | | | (373) | | | (493) | | | | | | | | | | | | | | | |
| Net income attributable to Universal Corporation | | $ | 7,502 | | | $ | 28,077 | | | $ | 14,776 | | | $ | 30,149 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Earnings per share: | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | $ | 0.30 | | | $ | 1.12 | | | $ | 0.60 | | | $ | 1.20 | | | | | | | | | | | |
| Diluted | | $ | 0.30 | | | $ | 1.11 | | | $ | 0.60 | | | $ | 1.19 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Weighted average common shares outstanding: | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | 24,658,895 | | | 25,086,580 | | | 24,630,886 | | | 25,122,283 | | | | | | | | | | | | | | | |
| Diluted | | 24,770,421 | | | 25,197,325 | | | 24,737,134 | | | 25,240,600 | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Total comprehensive income, net of income taxes | | $ | 22,060 | | | $ | 14,908 | | | $ | 29,269 | | | $ | 11,456 | | | | | | | | | | | |
| Less: comprehensive income attributable to noncontrolling interests | | (982) | | | (1,546) | | | (452) | | | (492) | | | | | | | | | | | | | | | |
| Comprehensive income (loss) attributable to Universal Corporation | | $ | 21,078 | | | $ | 13,362 | | | $ | 28,817 | | | $ | 10,964 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Dividends declared per common share | | $ | 0.77 | | | $ | 0.76 | | | $ | 1.54 | | | $ | 1.52 | | | | | | | | | | | |
---
English News:
Global Medical Image Management Market Report 2020 2027 Integration of PACS VNA with EMR Penetration of AI Adoption of Hybrid & Cloud Based Solutions DUBLIN Nov 11 2020 PRNewswire The Medical Image Management Market by Product PACS Departmental Radiology Mammography Cardiology Enterprise VNA On premise Hybrid Vendor PACS Independent Software Infrastructure AICA Universal Viewer and End User Global Forecast to 2027 report has been added to ResearchAndMarkets.coms offering. The medical image management market is expected to grow at a CAGR of 7.2 from 2020 to 2027 to reach 5.76 billion by 2027 The medical image management market study presents historical market data in terms of value 2018 and 2019 estimated current data 2020 and forecasts for 2027 by product end user and geography. The study also evaluates industry competitors and analyzes the market at a regional and country level. The factors such as growing investments in the medical imaging market technological advancements in diagnostic imaging modalities rising geriatric imaging volumes growing demand for advanced imaging equipment rapidly growing big data in healthcare and growing healthcare IT and EHR adoption are majorly driving the growth of the overall medical image management market. Also integration of PACS VNA with EMR untapped emerging markets penetration of artificial intelligence in medical imaging rapidly growing field of telehealth and hybrid cloud based solutions represent high growth opportunities for the players operating in this market. However the factors such as longer product lifecycle of VNAs and budgetary constraints restrict the growth of this market. Based on product type Picture Archive Communication System PACS is estimated to command the largest share of the overall medical image management market in 2020. However the vendor neutral archive segment is expected to grow at the highest CAGR during the forecast period owing to its greater security control over images and lower latency than cloud storage. Based on end user the hospitals segment is estimated to account for the largest share of the overall medical image management market in 2020 due to the factors such as increasing hospital expenditures for advanced management products rising number of emergency admissions and growing need to improve overall value based care. An in depth analysis of the geographic scenario of the medical image management market provides detailed qualitative and quantitative insights about the five major geographies North America Europe Asia Pacific Latin America and the Middle East & Africa along with the coverage of major countries in each region. North America is estimated to command the largest share of the global medical image management market in 2020 followed by Europe Asia Pacific Latin America and the Middle East & Africa. However Asia Pacific region is expected to grow at the fastest CAGR during the forecast period. The factors driving the growth of the Asia Pacific medical image management market are rising investment in the healthcare sector improving healthcare infrastructure increased adoption of medical imaging devices adoption of new technology into the healthcare industry and developments made for adoption of AI and telehealth services. Key Topics Covered 1.Introduction 2. Research Methodology 3. Executive Summary 4. Market Insights 4.1. Introduction 4.2. Drivers 4.2.1. Growing Investments in the Medical Imaging Market 4.2.2. Technological Advancements in Diagnostic Imaging Modalities 4.2.3. Rising Geriatric Population 4.2.4. Growing Demand for Imaging Equipment 4.2.5. Rapidly Growing Big Data in Healthcare 4.2.6. Growing Healthcare IT and EHR Adoption 4.3. Restraints 4.3.1. Longer Product Lifecycle of VNAs 4.3.2. Budgetary Constraints 4.4. Opportunities 4.4.1. Integration of PACS VNA with EMR 4.4.2. Untapped Emerging Markets 4.4.3. Penetration of AI in Medical Imaging 4.4.4. Adoption of Hybrid & Cloud Based Solutions 4.4.5. Rapidly Growing Telehealth Market 4.5. Challenges 4.5.1. Data Migration 4.5.2. Lack of Interoperability 4.6. Impact Assessment of Covid 19 5. Medical Image Management Market by Product 5.1. Introduction 5.2. Picture Archive Communication System PACS 5.2.1. PACS Market by Type 5.2.1.1. Departmental PACS 5.2.1.1.1. Radiology PACS 5.2.1.1.1.1. Traditional Mammography PACS 5.2.1.1.1.2. Vendor Neutral Mammography PACS 5.2.1.1.1.3. Other Radiology PACS 5.2.1.1.2. Cardiology PACS 5.2.1.1.3. Other Departmental PACS 5.2.1.2. Enterprise PACS 5.2.2. PACS Market by Delivery Model 5.2.2.1. On Premise PACS 5.2.2.2. Web Cloud Based PACS 5.3. Vendor Neutral Archive VNA 5.3.1. VNA Market by Delivery Model 5.3.1.1. On Premise VNA 5.3.1.2. Hybrid VNA 5.3.1.3. Web Cloud Based VNA 5.3.2. VNA Market by Procurement Model 5.3.2.1. Enterprise VNA 5.3.2.1.1. Multi Departmental VNA 5.3.2.1.2. Multi Site VNA 5.3.2.2. Departmental VNA 5.3.3. VNA Market by Vendor Type 5.3.3.1. Independent Software Vendors 5.3.3.2. PACS Vendors 5.3.3.3. Infrastructure Vendors 5.4. Application Independent Clinical Archives AICA 5.4.1. AICA Market by Vendor Type 5.4.1.1. VNA Vendors 5.4.1.2. Native AICA Vendors 5.5. Enterprise Viewer Universal Viewer 6. Medical Management Market by End User 6.1. Introduction 6.2. Hospitals 6.3. Diagnostic Imaging Centers 6.4. Other End Users 7. Medical Image Management Market by Geography 8. Competitive Landscape 8.1. Introduction 8.2. Key Growth Strategies 8.3. Competitive Benchmarking 8.3.1. Competitive Benchmarking by Product 8.4. Market Share Analysis 2019 8.4.1. Market Share Analysis Picture Archiving Communication Systems PACS Industry 8.4.1.1. GE Company 8.4.1.2. Koninklijke Philips N.V. 8.4.1.3. Fujifilm Holdings Corporation 8.4.2. Market Share Analysis Vendor Neutral Archive Industry 8.4.2.1. IBM Corporation 8.4.2.2. GE Company 8.4.2.3. Fujifilm Holdings Corporation 9. Company Profiles Business Overview Product Portfolio Financial Overview Strategic Developments 9.1. Novarad Corporation 9.2. Koninklijke Philips N.V. 9.3. INFINITT Healthcare Co Ltd 9.4. Siemens Healthineers AG 9.5. Hyland Software Inc 9.6. Agfa Gevaert Group 9.7. General Electric Company 9.8. Mach7 Technologies 9.9. BridgeHead Software Ltd 9.10. Fujifilm Holdings Corporation 9.11. IBM Corporation 9.12. Sectra AB 9.13. Change Healthcare Inc For more information about this report visit https www.researchandmarkets.com r e0st56 Research and Markets also offers Custom Research services providing focused comprehensive and tailored research. Media Contact Research and Markets Laura Wood Senior Manager emailprotected For E.S.T Office Hours Call 1 917 300 0470 For U.S. CAN Toll Free Call 1 800 526 8630 For GMT Office Hours Call 353 1 416 8900 U.S. Fax 646 607 1907 Fax outside U.S. 353 1 481 1716 SOURCE Research and Markets Related Links http www.researchandmarkets.com
Chinese News:
近日环球烟草公布财报，公告显示该公司2020财年第一财季归属于母公司普通股股东净利润为727.40万美元，同比增长251.06%；营业收入为3.16亿美元，同比上涨6.36%。Universal Corporation是一家领先的烟叶烟草供应商，在5大洲超过30个国家都有业务。
Japanese News:
米バージニア州リッチモンドに本社を置く世界的な葉タバコ供給企業ユニバーサル・コーポレーション（Universal Corporation）は、2020年9月30日に終了した2021会計年度第2四半期（7月～9月）の決算を発表した。同期の売上高は前年同期比20.8％減の3億7,702万5,000ドル、純利益は前年同期比73.3％減の750万2,000ドル（1株あたり利益0.30ドル）となり、大幅な減収減益となった。 営業利益も前年同期の4,319万9,000ドルから1,635万1,000ドルへと大きく減少。売上高および利益の減少は、主に販売量の減少と葉タバコの価格下落によるものである。一方、売上原価は前年同期比で約18.9％減の3億826万7,000ドル、販売管理費はほぼ横ばいの5,240万7,000ドルとなった。 地域別の内訳では、ブラジルを含む「その他地域」セグメントにおいて販売量が減少し、利益を圧迫した。また、COVID-19の影響により、一部地域で出荷および処理が遅延したこともマイナス要因として働いた。 一方、2021年度上半期（4月～9月）の累計では、売上高が前年同期比10.4％減の6億9,283万6,000ドル、純利益は51.0％減の1,477万6,000ドルとなった。COVID-19による処理遅延や物流障害の影響を受けたことが主因である。 同社は引き続き、世界各地でのCOVID-19の動向を注視しており、今後も慎重に対応していくとしている。
Spanish News:
Universal (UVV) comunicó a última hora del jueves unos ingresos netos ajustados en el segundo trimestre fiscal de 0,37 dólares por acción diluida, lo que supone un importante descenso respecto a los 1,14 dólares del año anterior. Los ingresos de los tres meses terminados el 30 de septiembre ascendieron a 377 millones de dólares, frente a los 475,9 millones del año pasado. Las estimaciones de los analistas no estaban disponibles. El consejo de administración de la empresa ha aprobado un programa de recompra de acciones por valor de 100 millones de dólares, y tiene unos 24,5 millones de acciones ordinarias en circulación. Las acciones de la tabaquera subieron un 1,7% en las primeras operaciones del viernes. Precio: 41,39, Cambio: +0,67, Cambio porcentual: +1.65
Greek News:
Η UVV παρουσίασε αυξημένα επίπεδα καθαρού χρέους στο τέλος του τρίτου τριμήνου του 2020, αντανακλώντας την επίδραση στρατηγικών επενδυτικών κινήσεων, όπως η εξαγορά της FruitSmart τον Ιανουάριο του ίδιου έτους. Συγκεκριμένα, το καθαρό χρέος ως ποσοστό της καθαρής κεφαλαιοποίησης ανήλθε σε περίπου 31% στις 30 Σεπτεμβρίου 2020, σημειώνοντας άνοδο σε σύγκριση με το αντίστοιχο επίπεδο της 30 Σεπτεμβρίου 2019 (περίπου 27%) και της 31ης Μαρτίου 2020 (περίπου 22%). Η αύξηση αυτή αποδίδεται κυρίως σε πρόσθετους δανεισμούς που σχετίζονται εν μέρει με την προαναφερθείσα εξαγορά. Την ίδια χρονική περίοδο, η εταιρεία διέθετε $ 57,1 εκατομμύρια σε μετρητά και ισοδύναμα, ενώ το βραχυπρόθεσμο χρέος διαμορφωνόταν στα $ 235,4 εκατομμύρια. Η UVV τήρησε πλήρως τους όρους των δανειακών συμβάσεων, οι οποίοι περιλαμβάνουν απαιτήσεις διατήρησης ελαχίστων επιπέδων απτής καθαρής θέσης και περιορισμούς στη μόχλευση. Η εύλογη αξία του συνολικού μακροπρόθεσμου χρέους, συμπεριλαμβανομένου του τρέχοντος μέρους, εκτιμήθηκε σε περίπου $ 370 εκατομμύρια στις 30 Σεπτεμβρίου 2020, όπως και στις προηγούμενες συγκριτικές ημερομηνίες των ισολογισμών. Η αποτίμηση βασίζεται σε εισροές Επιπέδου 2, λαμβάνοντας υπόψη τις τρέχουσες αγοραίες συνθήκες και διαθέσιμα επιτόκια για παρόμοιες υποχρεώσεις.
Question:
What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: The company faces margin pressure from declining sales volumes and lower tobacco prices. Operating income fell from $43.2 million to $16.4 million year-over-year. To maintain margins, they're reducing operating costs - cost of goods sold decreased by 18.9% while sales and administrative expenses remained flat. The company is also managing working capital more efficiently and leveraging strategic acquisitions like FruitSmart.
Financial Statement Evidence:
Operating income: $16,351 thousand (2020) vs $43,199 thousand (2019)
Cost of goods sold: $308,267 thousand (2020) vs $379,892 thousand (2019) |
UVV_20201105 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 |
|:------------------------------------------------------|:-----------|:--------------|:-----------|:--------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | |
| | | September 30, | | September 30, | | March 31, | | | | | | | | | | | | | | |
| | | 2020 | | 2019 | | 2020 | | | | | | | | | | | | | | |
| | | (Unaudited) | | (Unaudited) | | | | | | | | | | | | | | | | |
| ASSETS | | | | | | | | | | | | | | | | | | | | |
| Current assets | | | | | | | | | | | | | | | | | | | | |
| Cash and cash equivalents | | $ | 57,084 | | | $ | 53,173 | | | $ | 107,430 | | | | | | | | | |
| Accounts receivable, net | | 329,332 | | | 337,825 | | | 340,711 | | | | | | | | | | | | |
| Advances to suppliers, net | | 65,643 | | | 75,828 | | | 133,778 | | | | | | | | | | | | |
| Accounts receivable—unconsolidated affiliates | | 47,807 | | | 82,812 | | | 11,483 | | | | | | | | | | | | |
| Inventories—at lower of cost or net realizable value: | | | | | | | | | | | | | | | | | | | | |
| Tobacco | | 888,213 | | | 918,592 | | | 707,298 | | | | | | | | | | | | |
| Other | | 116,299 | | | 97,536 | | | 99,275 | | | | | | | | | | | | |
| Prepaid income taxes | | 20,712 | | | 13,454 | | | 12,144 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Other current assets | | 69,564 | | | 70,338 | | | 67,498 | | | | | | | | | | | | |
| Total current assets | | 1,594,654 | | | 1,649,558 | | | 1,479,617 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Property, plant and equipment | | | | | | | | | | | | | | | | | | | | |
| Land | | 21,515 | | | 22,696 | | | 21,376 | | | | | | | | | | | | |
| Buildings | | 259,875 | | | 261,599 | | | 256,488 | | | | | | | | | | | | |
| Machinery and equipment | | 657,435 | | | 609,320 | | | 634,395 | | | | | | | | | | | | |
| | | 938,825 | | | 893,615 | | | 912,259 | | | | | | | | | | | | |
| Less accumulated depreciation | | (617,553) | | | (598,184) | | | (597,106) | | | | | | | | | | | | |
| | | 321,272 | | | 295,431 | | | 315,153 | | | | | | | | | | | | |
| Other assets | | | | | | | | | | | | | | | | | | | | |
| Operating lease right-of-use assets | | 35,665 | | | 34,838 | | | 39,256 | | | | | | | | | | | | |
| Goodwill and other intangibles, net | | 143,219 | | | 97,998 | | | 144,687 | | | | | | | | | | | | |
| Investments in unconsolidated affiliates | | 82,628 | | | 79,072 | | | 77,543 | | | | | | | | | | | | |
| Deferred income taxes | | 22,615 | | | 16,250 | | | 20,954 | | | | | | | | | | | | |
| Other noncurrent assets | | 42,239 | | | 45,085 | | | 43,711 | | | | | | | | | | | | |
| | | 326,366 | | | 273,243 | | | 326,151 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Total assets | | $ | 2,242,292 | | | $ | 2,218,232 | | | $ | 2,120,921 | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 |
|:--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-----------|:--------------|:-----------|:--------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | |
| | | September 30, | | September 30, | | March 31, | | | | | | | | | | | | | | |
| | | 2020 | | 2019 | | 2020 | | | | | | | | | | | | | | |
| | | (Unaudited) | | (Unaudited) | | | | | | | | | | | | | | | | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | | | | | | | | | | | | | | |
| Current liabilities | | | | | | | | | | | | | | | | | | | | |
| Notes payable and overdrafts | | $ | 235,413 | | | $ | 155,352 | | | $ | 78,033 | | | | | | | | | |
| Accounts payable and accrued expenses | | 133,034 | | | 158,731 | | | 140,202 | | | | | | | | | | | | |
| Accounts payable—unconsolidated affiliates | | 117 | | | 56 | | | 55 | | | | | | | | | | | | |
| Customer advances and deposits | | 8,049 | | | 6,513 | | | 10,242 | | | | | | | | | | | | |
| Accrued compensation | | 19,499 | | | 22,046 | | | 23,710 | | | | | | | | | | | | |
| Income taxes payable | | 2,947 | | | 1,155 | | | 5,334 | | | | | | | | | | | | |
| Current portion of operating lease liabilities | | 9,105 | | | 8,591 | | | 9,823 | | | | | | | | | | | | |
| Current portion of long-term debt | | — | | | — | | | — | | | | | | | | | | | | |
| Total current liabilities | | 408,164 | | | 352,444 | | | 267,399 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Long-term debt | | 368,894 | | | 368,633 | | | 368,764 | | | | | | | | | | | | |
| Pensions and other postretirement benefits | | 64,947 | | | 54,113 | | | 70,680 | | | | | | | | | | | | |
| Long-term operating lease liabilities | | 22,813 | | | 23,331 | | | 25,893 | | | | | | | | | | | | |
| Other long-term liabilities | | 72,657 | | | 56,146 | | | 69,427 | | | | | | | | | | | | |
| Deferred income taxes | | 25,941 | | | 24,982 | | | 29,474 | | | | | | | | | | | | |
| Total liabilities | | 963,416 | | | 879,649 | | | 831,637 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Shareholders’ equity | | | | | | | | | | | | | | | | | | | | |
| Universal Corporation: | | | | | | | | | | | | | | | | | | | | |
| Preferred stock: | | | | | | | | | | | | | | | | | | | | |
| Series A Junior Participating Preferred Stock, no par value,500,000shares authorized,noneissued or outstanding | | — | | | — | | | — | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Common stock, no par value,100,000,000shares authorized24,514,867shares issued and outstanding at September 30, 2020 (24,841,863at September 30, 2019 and24,421,835at March 31, 2020) | | 323,761 | | | 324,927 | | | 321,502 | | | | | | | | | | | | |
| Retained earnings | | 1,053,295 | | | 1,088,608 | | | 1,076,760 | | | | | | | | | | | | |
| Accumulated other comprehensive loss | | (137,556) | | | (114,876) | | | (151,597) | | | | | | | | | | | | |
| Total Universal Corporation shareholders' equity | | 1,239,500 | | | 1,298,659 | | | 1,246,665 | | | | | | | | | | | | |
| Noncontrolling interests in subsidiaries | | 39,376 | | | 39,924 | | | 42,619 | | | | | | | | | | | | |
| Total shareholders' equity | | 1,278,876 | | | 1,338,583 | | | 1,289,284 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Total liabilities and shareholders' equity | | $ | 2,242,292 | | | $ | 2,218,232 | | | $ | 2,120,921 | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 |
|:--------------------------------------------------------------------------------------|:-----------|:-------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | |
| | | Six Months Ended September 30, | | | | | | | | | | | | |
| | | 2020 | | 2019 | | | | | | | | | | |
| | | (Unaudited) | | | | | | | | | | | | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | | | | | | | | | | | | | | |
| Net income | | $ | 15,149 | | | $ | 30,642 | | | | | | | |
| Adjustments to reconcile net income to net cash used by operating activities: | | | | | | | | | | | | | | |
| Depreciation and amortization | | 20,381 | | | 18,231 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Net provision for losses (recoveries) on advances and guaranteed loans to suppliers | | 348 | | | (1,885) | | | | | | | | | |
| Foreign currency remeasurement (gain) loss, net | | (5,105) | | | 1,767 | | | | | | | | | |
| Foreign currency exchange contracts | | (8,169) | | | (773) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Restructuring payments | | (2,937) | | | (298) | | | | | | | | | |
| Change in estimated fair value of contingent consideration for FruitSmart acquisition | | (4,173) | | | — | | | | | | | | | |
| Other, net | | 3,049 | | | 472 | | | | | | | | | |
| Changes in operating assets and liabilities, net | | (168,502) | | | (327,975) | | | | | | | | | |
| Net cash provided (used) by operating activities | | (149,959) | | | (279,819) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | | | | | | | | |
| Purchase of property, plant and equipment | | (22,751) | | | (13,308) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Proceeds from sale of property, plant and equipment | | 1,780 | | | 1,254 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Net cash used by investing activities | | (20,971) | | | (12,054) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | | | | | | | |
| Issuance of short-term debt, net | | 162,646 | | | 104,003 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Dividends paid to noncontrolling interests | | (3,695) | | | (3,359) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Repurchase of common stock | | — | | | (12,338) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Dividends paid on common stock | | (37,424) | | | (37,721) | | | | | | | | | |
| Other | | (1,949) | | | (2,883) | | | | | | | | | |
| Net cash provided (used) by financing activities | | 119,578 | | | 47,702 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Effect of exchange rate changes on cash | | 1,006 | | | (212) | | | | | | | | | |
| Net decrease in cash and cash equivalents | | (50,346) | | | (244,383) | | | | | | | | | |
| Cash and cash equivalents at beginning of year | | 107,430 | | | 297,556 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Cash and cash equivalents at end of period | | $ | 57,084 | | | $ | 53,173 | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 | Column 22 | Column 23 | Column 24 | Column 25 | Column 26 | Column 27 |
|:----------------------------------------------------------------------------------|:-----------|:---------------------------------|:-----------|:-------------------------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Three Months Ended September 30, | | Six Months Ended September 30, | | | | | | | | | | | | | | | | | | | | | | |
| | | 2020 | | 2019 | | 2020 | | 2019 | | | | | | | | | | | | | | | | | | |
| | | (Unaudited) | | (Unaudited) | | | | | | | | | | | | | | | | | | | | | | |
| Sales and other operating revenues | | $ | 377,025 | | | $ | 475,921 | | | $ | 692,836 | | | $ | 772,836 | | | | | | | | | | | |
| Costs and expenses | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Cost of goods sold | | 308,267 | | | 379,892 | | | 570,313 | | | 618,157 | | | | | | | | | | | | | | | |
| Selling, general and administrative expenses | | 52,407 | | | 52,830 | | | 101,817 | | | 103,966 | | | | | | | | | | | | | | | |
| Other income | | — | | | — | | | (4,173) | | | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Operating income | | 16,351 | | | 43,199 | | | 24,879 | | | 50,713 | | | | | | | | | | | | | | | |
| Equity in pretax earnings (loss) of unconsolidated affiliates | | 590 | | | 2,310 | | | 583 | | | 2,350 | | | | | | | | | | | | | | | |
| Other non-operating income (expense) | | (20) | | | 633 | | | (38) | | | 1,260 | | | | | | | | | | | | | | | |
| Interest income | | 101 | | | 240 | | | 260 | | | 1,248 | | | | | | | | | | | | | | | |
| Interest expense | | 5,595 | | | 5,136 | | | 12,405 | | | 9,164 | | | | | | | | | | | | | | | |
| Income before income taxes and other items | | 11,427 | | | 41,246 | | | 13,279 | | | 46,407 | | | | | | | | | | | | | | | |
| Income taxes | | 3,178 | | | 11,499 | | | (1,870) | | | 15,765 | | | | | | | | | | | | | | | |
| Net income | | 8,249 | | | 29,747 | | | 15,149 | | | 30,642 | | | | | | | | | | | | | | | |
| Less: net loss (income) attributable to noncontrolling interests in subsidiaries | | (747) | | | (1,670) | | | (373) | | | (493) | | | | | | | | | | | | | | | |
| Net income attributable to Universal Corporation | | $ | 7,502 | | | $ | 28,077 | | | $ | 14,776 | | | $ | 30,149 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Earnings per share: | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | $ | 0.30 | | | $ | 1.12 | | | $ | 0.60 | | | $ | 1.20 | | | | | | | | | | | |
| Diluted | | $ | 0.30 | | | $ | 1.11 | | | $ | 0.60 | | | $ | 1.19 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Weighted average common shares outstanding: | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | 24,658,895 | | | 25,086,580 | | | 24,630,886 | | | 25,122,283 | | | | | | | | | | | | | | | |
| Diluted | | 24,770,421 | | | 25,197,325 | | | 24,737,134 | | | 25,240,600 | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Total comprehensive income, net of income taxes | | $ | 22,060 | | | $ | 14,908 | | | $ | 29,269 | | | $ | 11,456 | | | | | | | | | | | |
| Less: comprehensive income attributable to noncontrolling interests | | (982) | | | (1,546) | | | (452) | | | (492) | | | | | | | | | | | | | | | |
| Comprehensive income (loss) attributable to Universal Corporation | | $ | 21,078 | | | $ | 13,362 | | | $ | 28,817 | | | $ | 10,964 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Dividends declared per common share | | $ | 0.77 | | | $ | 0.76 | | | $ | 1.54 | | | $ | 1.52 | | | | | | | | | | | |
---
English News:
Global Medical Image Management Market Report 2020 2027 Integration of PACS VNA with EMR Penetration of AI Adoption of Hybrid & Cloud Based Solutions DUBLIN Nov 11 2020 PRNewswire The Medical Image Management Market by Product PACS Departmental Radiology Mammography Cardiology Enterprise VNA On premise Hybrid Vendor PACS Independent Software Infrastructure AICA Universal Viewer and End User Global Forecast to 2027 report has been added to ResearchAndMarkets.coms offering. The medical image management market is expected to grow at a CAGR of 7.2 from 2020 to 2027 to reach 5.76 billion by 2027 The medical image management market study presents historical market data in terms of value 2018 and 2019 estimated current data 2020 and forecasts for 2027 by product end user and geography. The study also evaluates industry competitors and analyzes the market at a regional and country level. The factors such as growing investments in the medical imaging market technological advancements in diagnostic imaging modalities rising geriatric imaging volumes growing demand for advanced imaging equipment rapidly growing big data in healthcare and growing healthcare IT and EHR adoption are majorly driving the growth of the overall medical image management market. Also integration of PACS VNA with EMR untapped emerging markets penetration of artificial intelligence in medical imaging rapidly growing field of telehealth and hybrid cloud based solutions represent high growth opportunities for the players operating in this market. However the factors such as longer product lifecycle of VNAs and budgetary constraints restrict the growth of this market. Based on product type Picture Archive Communication System PACS is estimated to command the largest share of the overall medical image management market in 2020. However the vendor neutral archive segment is expected to grow at the highest CAGR during the forecast period owing to its greater security control over images and lower latency than cloud storage. Based on end user the hospitals segment is estimated to account for the largest share of the overall medical image management market in 2020 due to the factors such as increasing hospital expenditures for advanced management products rising number of emergency admissions and growing need to improve overall value based care. An in depth analysis of the geographic scenario of the medical image management market provides detailed qualitative and quantitative insights about the five major geographies North America Europe Asia Pacific Latin America and the Middle East & Africa along with the coverage of major countries in each region. North America is estimated to command the largest share of the global medical image management market in 2020 followed by Europe Asia Pacific Latin America and the Middle East & Africa. However Asia Pacific region is expected to grow at the fastest CAGR during the forecast period. The factors driving the growth of the Asia Pacific medical image management market are rising investment in the healthcare sector improving healthcare infrastructure increased adoption of medical imaging devices adoption of new technology into the healthcare industry and developments made for adoption of AI and telehealth services. Key Topics Covered 1.Introduction 2. Research Methodology 3. Executive Summary 4. Market Insights 4.1. Introduction 4.2. Drivers 4.2.1. Growing Investments in the Medical Imaging Market 4.2.2. Technological Advancements in Diagnostic Imaging Modalities 4.2.3. Rising Geriatric Population 4.2.4. Growing Demand for Imaging Equipment 4.2.5. Rapidly Growing Big Data in Healthcare 4.2.6. Growing Healthcare IT and EHR Adoption 4.3. Restraints 4.3.1. Longer Product Lifecycle of VNAs 4.3.2. Budgetary Constraints 4.4. Opportunities 4.4.1. Integration of PACS VNA with EMR 4.4.2. Untapped Emerging Markets 4.4.3. Penetration of AI in Medical Imaging 4.4.4. Adoption of Hybrid & Cloud Based Solutions 4.4.5. Rapidly Growing Telehealth Market 4.5. Challenges 4.5.1. Data Migration 4.5.2. Lack of Interoperability 4.6. Impact Assessment of Covid 19 5. Medical Image Management Market by Product 5.1. Introduction 5.2. Picture Archive Communication System PACS 5.2.1. PACS Market by Type 5.2.1.1. Departmental PACS 5.2.1.1.1. Radiology PACS 5.2.1.1.1.1. Traditional Mammography PACS 5.2.1.1.1.2. Vendor Neutral Mammography PACS 5.2.1.1.1.3. Other Radiology PACS 5.2.1.1.2. Cardiology PACS 5.2.1.1.3. Other Departmental PACS 5.2.1.2. Enterprise PACS 5.2.2. PACS Market by Delivery Model 5.2.2.1. On Premise PACS 5.2.2.2. Web Cloud Based PACS 5.3. Vendor Neutral Archive VNA 5.3.1. VNA Market by Delivery Model 5.3.1.1. On Premise VNA 5.3.1.2. Hybrid VNA 5.3.1.3. Web Cloud Based VNA 5.3.2. VNA Market by Procurement Model 5.3.2.1. Enterprise VNA 5.3.2.1.1. Multi Departmental VNA 5.3.2.1.2. Multi Site VNA 5.3.2.2. Departmental VNA 5.3.3. VNA Market by Vendor Type 5.3.3.1. Independent Software Vendors 5.3.3.2. PACS Vendors 5.3.3.3. Infrastructure Vendors 5.4. Application Independent Clinical Archives AICA 5.4.1. AICA Market by Vendor Type 5.4.1.1. VNA Vendors 5.4.1.2. Native AICA Vendors 5.5. Enterprise Viewer Universal Viewer 6. Medical Management Market by End User 6.1. Introduction 6.2. Hospitals 6.3. Diagnostic Imaging Centers 6.4. Other End Users 7. Medical Image Management Market by Geography 8. Competitive Landscape 8.1. Introduction 8.2. Key Growth Strategies 8.3. Competitive Benchmarking 8.3.1. Competitive Benchmarking by Product 8.4. Market Share Analysis 2019 8.4.1. Market Share Analysis Picture Archiving Communication Systems PACS Industry 8.4.1.1. GE Company 8.4.1.2. Koninklijke Philips N.V. 8.4.1.3. Fujifilm Holdings Corporation 8.4.2. Market Share Analysis Vendor Neutral Archive Industry 8.4.2.1. IBM Corporation 8.4.2.2. GE Company 8.4.2.3. Fujifilm Holdings Corporation 9. Company Profiles Business Overview Product Portfolio Financial Overview Strategic Developments 9.1. Novarad Corporation 9.2. Koninklijke Philips N.V. 9.3. INFINITT Healthcare Co Ltd 9.4. Siemens Healthineers AG 9.5. Hyland Software Inc 9.6. Agfa Gevaert Group 9.7. General Electric Company 9.8. Mach7 Technologies 9.9. BridgeHead Software Ltd 9.10. Fujifilm Holdings Corporation 9.11. IBM Corporation 9.12. Sectra AB 9.13. Change Healthcare Inc For more information about this report visit https www.researchandmarkets.com r e0st56 Research and Markets also offers Custom Research services providing focused comprehensive and tailored research. Media Contact Research and Markets Laura Wood Senior Manager emailprotected For E.S.T Office Hours Call 1 917 300 0470 For U.S. CAN Toll Free Call 1 800 526 8630 For GMT Office Hours Call 353 1 416 8900 U.S. Fax 646 607 1907 Fax outside U.S. 353 1 481 1716 SOURCE Research and Markets Related Links http www.researchandmarkets.com
Chinese News:
近日环球烟草公布财报，公告显示该公司2020财年第一财季归属于母公司普通股股东净利润为727.40万美元，同比增长251.06%；营业收入为3.16亿美元，同比上涨6.36%。Universal Corporation是一家领先的烟叶烟草供应商，在5大洲超过30个国家都有业务。
Japanese News:
米バージニア州リッチモンドに本社を置く世界的な葉タバコ供給企業ユニバーサル・コーポレーション（Universal Corporation）は、2020年9月30日に終了した2021会計年度第2四半期（7月～9月）の決算を発表した。同期の売上高は前年同期比20.8％減の3億7,702万5,000ドル、純利益は前年同期比73.3％減の750万2,000ドル（1株あたり利益0.30ドル）となり、大幅な減収減益となった。 営業利益も前年同期の4,319万9,000ドルから1,635万1,000ドルへと大きく減少。売上高および利益の減少は、主に販売量の減少と葉タバコの価格下落によるものである。一方、売上原価は前年同期比で約18.9％減の3億826万7,000ドル、販売管理費はほぼ横ばいの5,240万7,000ドルとなった。 地域別の内訳では、ブラジルを含む「その他地域」セグメントにおいて販売量が減少し、利益を圧迫した。また、COVID-19の影響により、一部地域で出荷および処理が遅延したこともマイナス要因として働いた。 一方、2021年度上半期（4月～9月）の累計では、売上高が前年同期比10.4％減の6億9,283万6,000ドル、純利益は51.0％減の1,477万6,000ドルとなった。COVID-19による処理遅延や物流障害の影響を受けたことが主因である。 同社は引き続き、世界各地でのCOVID-19の動向を注視しており、今後も慎重に対応していくとしている。
Spanish News:
Universal (UVV) comunicó a última hora del jueves unos ingresos netos ajustados en el segundo trimestre fiscal de 0,37 dólares por acción diluida, lo que supone un importante descenso respecto a los 1,14 dólares del año anterior. Los ingresos de los tres meses terminados el 30 de septiembre ascendieron a 377 millones de dólares, frente a los 475,9 millones del año pasado. Las estimaciones de los analistas no estaban disponibles. El consejo de administración de la empresa ha aprobado un programa de recompra de acciones por valor de 100 millones de dólares, y tiene unos 24,5 millones de acciones ordinarias en circulación. Las acciones de la tabaquera subieron un 1,7% en las primeras operaciones del viernes. Precio: 41,39, Cambio: +0,67, Cambio porcentual: +1.65
Greek News:
Η UVV παρουσίασε αυξημένα επίπεδα καθαρού χρέους στο τέλος του τρίτου τριμήνου του 2020, αντανακλώντας την επίδραση στρατηγικών επενδυτικών κινήσεων, όπως η εξαγορά της FruitSmart τον Ιανουάριο του ίδιου έτους. Συγκεκριμένα, το καθαρό χρέος ως ποσοστό της καθαρής κεφαλαιοποίησης ανήλθε σε περίπου 31% στις 30 Σεπτεμβρίου 2020, σημειώνοντας άνοδο σε σύγκριση με το αντίστοιχο επίπεδο της 30 Σεπτεμβρίου 2019 (περίπου 27%) και της 31ης Μαρτίου 2020 (περίπου 22%). Η αύξηση αυτή αποδίδεται κυρίως σε πρόσθετους δανεισμούς που σχετίζονται εν μέρει με την προαναφερθείσα εξαγορά. Την ίδια χρονική περίοδο, η εταιρεία διέθετε $ 57,1 εκατομμύρια σε μετρητά και ισοδύναμα, ενώ το βραχυπρόθεσμο χρέος διαμορφωνόταν στα $ 235,4 εκατομμύρια. Η UVV τήρησε πλήρως τους όρους των δανειακών συμβάσεων, οι οποίοι περιλαμβάνουν απαιτήσεις διατήρησης ελαχίστων επιπέδων απτής καθαρής θέσης και περιορισμούς στη μόχλευση. Η εύλογη αξία του συνολικού μακροπρόθεσμου χρέους, συμπεριλαμβανομένου του τρέχοντος μέρους, εκτιμήθηκε σε περίπου $ 370 εκατομμύρια στις 30 Σεπτεμβρίου 2020, όπως και στις προηγούμενες συγκριτικές ημερομηνίες των ισολογισμών. Η αποτίμηση βασίζεται σε εισροές Επιπέδου 2, λαμβάνοντας υπόψη τις τρέχουσες αγοραίες συνθήκες και διαθέσιμα επιτόκια για παρόμοιες υποχρεώσεις.
Question:
What are the company's capital expenditures and their strategic significance from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | What are the company's capital expenditures and their strategic significance from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: Capital expenditures of $22.8 million in 2020 compared to $13.3 million in 2019 reflect increased strategic investments. The news highlights the strategic significance of the FruitSmart acquisition completed in January 2020, which required debt financing. These investments aim to diversify beyond traditional tobacco operations and position the company for future growth despite current market challenges.
Financial Statement Evidence: Purchase of property, plant and equipment: $22,751 thousand (2020) vs $13,308 thousand (2019). Change in estimated fair value of contingent consideration for FruitSmart acquisition: $(4,173) thousandRetryClaude can make mistakes. Please double-check responses. |
UVV_20210208 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 |
|:------------------------------------------------------|:-----------|:-------------|:-----------|:-------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | |
| | | December 31, | | December 31, | | March 31, | | | | | | | | | | | | | | |
| | | 2020 | | 2019 | | 2020 | | | | | | | | | | | | | | |
| | | (Unaudited) | | (Unaudited) | | | | | | | | | | | | | | | | |
| ASSETS | | | | | | | | | | | | | | | | | | | | |
| Current assets | | | | | | | | | | | | | | | | | | | | |
| Cash and cash equivalents | | $ | 95,405 | | | $ | 64,734 | | | $ | 107,430 | | | | | | | | | |
| Accounts receivable, net | | 354,676 | | | 271,981 | | | 340,711 | | | | | | | | | | | | |
| Advances to suppliers, net | | 102,795 | | | 120,079 | | | 133,778 | | | | | | | | | | | | |
| Accounts receivable—unconsolidated affiliates | | 6,197 | | | 24,748 | | | 11,483 | | | | | | | | | | | | |
| Inventories—at lower of cost or net realizable value: | | | | | | | | | | | | | | | | | | | | |
| Tobacco | | 814,287 | | | 937,661 | | | 707,298 | | | | | | | | | | | | |
| Other | | 144,333 | | | 84,621 | | | 99,275 | | | | | | | | | | | | |
| Prepaid income taxes | | 18,174 | | | 13,619 | | | 12,144 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Other current assets | | 68,928 | | | 61,450 | | | 67,498 | | | | | | | | | | | | |
| Total current assets | | 1,604,795 | | | 1,578,893 | | | 1,479,617 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Property, plant and equipment | | | | | | | | | | | | | | | | | | | | |
| Land | | 22,499 | | | 22,510 | | | 21,376 | | | | | | | | | | | | |
| Buildings | | 268,377 | | | 255,202 | | | 256,488 | | | | | | | | | | | | |
| Machinery and equipment | | 662,854 | | | 609,976 | | | 634,395 | | | | | | | | | | | | |
| | | 953,730 | | | 887,688 | | | 912,259 | | | | | | | | | | | | |
| Less accumulated depreciation | | (621,928) | | | (592,457) | | | (597,106) | | | | | | | | | | | | |
| | | 331,802 | | | 295,231 | | | 315,153 | | | | | | | | | | | | |
| Other assets | | | | | | | | | | | | | | | | | | | | |
| Operating lease right-of-use assets | | 34,717 | | | 34,230 | | | 39,256 | | | | | | | | | | | | |
| Goodwill and other intangibles, net | | 255,365 | | | 98,042 | | | 144,687 | | | | | | | | | | | | |
| Investments in unconsolidated affiliates | | 85,610 | | | 77,783 | | | 77,543 | | | | | | | | | | | | |
| Deferred income taxes | | 22,281 | | | 16,354 | | | 20,954 | | | | | | | | | | | | |
| Other noncurrent assets | | 54,071 | | | 50,186 | | | 43,711 | | | | | | | | | | | | |
| | | 452,044 | | | 276,595 | | | 326,151 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Total assets | | $ | 2,388,641 | | | $ | 2,150,719 | | | $ | 2,120,921 | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 |
|:------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-----------|:-------------|:-----------|:-------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | |
| | | December 31, | | December 31, | | March 31, | | | | | | | | | | | | | | |
| | | 2020 | | 2019 | | 2020 | | | | | | | | | | | | | | |
| | | (Unaudited) | | (Unaudited) | | | | | | | | | | | | | | | | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | | | | | | | | | | | | | | |
| Current liabilities | | | | | | | | | | | | | | | | | | | | |
| Notes payable and overdrafts | | $ | 129,603 | | | $ | 92,592 | | | $ | 78,033 | | | | | | | | | |
| Accounts payable and accrued expenses | | 156,421 | | | 130,165 | | | 140,202 | | | | | | | | | | | | |
| Accounts payable—unconsolidated affiliates | | 7,416 | | | 7,494 | | | 55 | | | | | | | | | | | | |
| Customer advances and deposits | | 14,498 | | | 8,230 | | | 10,242 | | | | | | | | | | | | |
| Accrued compensation | | 22,744 | | | 21,761 | | | 23,710 | | | | | | | | | | | | |
| Income taxes payable | | 6,650 | | | 1,991 | | | 5,334 | | | | | | | | | | | | |
| Current portion of operating lease liabilities | | 9,014 | | | 8,394 | | | 9,823 | | | | | | | | | | | | |
| Current portion of long-term debt | | — | | | — | | | — | | | | | | | | | | | | |
| Total current liabilities | | 346,346 | | | 270,627 | | | 267,399 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Long-term debt | | 518,047 | | | 368,698 | | | 368,764 | | | | | | | | | | | | |
| Pensions and other postretirement benefits | | 66,764 | | | 55,305 | | | 70,680 | | | | | | | | | | | | |
| Long-term operating lease liabilities | | 22,709 | | | 23,465 | | | 25,893 | | | | | | | | | | | | |
| Other long-term liabilities | | 71,346 | | | 51,185 | | | 69,427 | | | | | | | | | | | | |
| Deferred income taxes | | 46,414 | | | 28,228 | | | 29,474 | | | | | | | | | | | | |
| Total liabilities | | 1,071,626 | | | 797,508 | | | 831,637 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Shareholders’ equity | | | | | | | | | | | | | | | | | | | | |
| Universal Corporation: | | | | | | | | | | | | | | | | | | | | |
| Preferred stock: | | | | | | | | | | | | | | | | | | | | |
| Series A Junior Participating Preferred Stock, no par value,500,000shares authorized,noneissued or outstanding | | — | | | — | | | — | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Common stock, no par value,100,000,000shares authorized24,514,867shares issued and outstanding at December 31, 2020 (24,693,557at December 31, 2019 and24,421,835at March 31, 2020) | | 325,350 | | | 324,388 | | | 321,502 | | | | | | | | | | | | |
| Retained earnings | | 1,067,437 | | | 1,089,718 | | | 1,076,760 | | | | | | | | | | | | |
| Accumulated other comprehensive loss | | (122,262) | | | (104,310) | | | (151,597) | | | | | | | | | | | | |
| Total Universal Corporation shareholders' equity | | 1,270,525 | | | 1,309,796 | | | 1,246,665 | | | | | | | | | | | | |
| Noncontrolling interests in subsidiaries | | 46,490 | | | 43,415 | | | 42,619 | | | | | | | | | | | | |
| Total shareholders' equity | | 1,317,015 | | | 1,353,211 | | | 1,289,284 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Total liabilities and shareholders' equity | | $ | 2,388,641 | | | $ | 2,150,719 | | | $ | 2,120,921 | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 |
|:--------------------------------------------------------------------------------------|:-----------|:-------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | |
| | | Nine Months Ended December 31, | | | | | | | | | | | | |
| | | 2020 | | 2019 | | | | | | | | | | |
| | | (Unaudited) | | | | | | | | | | | | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | | | | | | | | | | | | | | |
| Net income | | $ | 55,590 | | | $ | 59,960 | | | | | | | |
| Adjustments to reconcile net income to net cash used by operating activities: | | | | | | | | | | | | | | |
| Depreciation and amortization | | 32,626 | | | 27,500 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Net provision for losses (recoveries) on advances and guaranteed loans to suppliers | | 2,753 | | | 93 | | | | | | | | | |
| Foreign currency remeasurement (gain) loss, net | | (8,823) | | | (2,179) | | | | | | | | | |
| Foreign currency exchange contracts | | (7,723) | | | (698) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Restructuring and impairment costs | | 19,979 | | | — | | | | | | | | | |
| Restructuring payments | | (5,179) | | | (444) | | | | | | | | | |
| Change in estimated fair value of contingent consideration for FruitSmart acquisition | | (4,173) | | | — | | | | | | | | | |
| Other, net | | 5,260 | | | 3,412 | | | | | | | | | |
| Changes in operating assets and liabilities, net | | (51,687) | | | (260,542) | | | | | | | | | |
| Net cash provided (used) by operating activities | | 38,623 | | | (172,898) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | | | | | | | | |
| Purchase of property, plant and equipment | | (33,794) | | | (21,692) | | | | | | | | | |
| Purchase of business, net of cash held by the business | | (161,095) | | | — | | | | | | | | | |
| Proceeds from sale of property, plant and equipment | | 4,086 | | | 2,946 | | | | | | | | | |
| Other | | (800) | | | 496 | | | | | | | | | |
| Net cash used by investing activities | | (191,603) | | | (18,250) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | | | | | | | |
| Issuance of short-term debt, net | | 57,207 | | | 41,201 | | | | | | | | | |
| Issuance of long-term debt | | 150,000 | | | — | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Dividends paid to noncontrolling interests | | (3,695) | | | (3,359) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Repurchase of common stock | | — | | | (20,125) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Dividends paid on common stock | | (56,301) | | | (56,601) | | | | | | | | | |
| Other | | (1,949) | | | (2,883) | | | | | | | | | |
| Net cash provided (used) by financing activities | | 145,262 | | | (41,767) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Effect of exchange rate changes on cash | | 1,693 | | | 93 | | | | | | | | | |
| Net decrease in cash, restricted cash and cash equivalents | | (6,025) | | | (232,822) | | | | | | | | | |
| Cash, restricted cash and cash equivalents at beginning of year | | 107,430 | | | 297,556 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Cash, restricted cash and cash equivalents at end of period | | $ | 101,405 | | | $ | 64,734 | | | | | | | |
| | | | | | | | | | | | | | | |
| Supplemental Information: | | | | | | | | | | | | | | |
| Cash and cash equivalents | | $ | 95,405 | | | $ | 64,734 | | | | | | | |
| Restricted cash (Other noncurrent assets) | | 6,000 | | | — | | | | | | | | | |
| Total cash, restricted cash and cash equivalents | | $ | 101,405 | | | $ | 64,734 | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 | Column 22 | Column 23 | Column 24 | Column 25 | Column 26 | Column 27 |
|:----------------------------------------------------------------------------------|:-----------|:--------------------------------|:-----------|:-------------------------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Three Months Ended December 31, | | Nine Months Ended December 31, | | | | | | | | | | | | | | | | | | | | | | |
| | | 2020 | | 2019 | | 2020 | | 2019 | | | | | | | | | | | | | | | | | | |
| | | (Unaudited) | | (Unaudited) | | | | | | | | | | | | | | | | | | | | | | |
| Sales and other operating revenues | | $ | 672,931 | | | $ | 505,049 | | | $ | 1,365,767 | | | $ | 1,277,885 | | | | | | | | | | | |
| Costs and expenses | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Cost of goods sold | | 533,431 | | | 412,076 | | | 1,103,744 | | | 1,030,233 | | | | | | | | | | | | | | | |
| Selling, general and administrative expenses | | 59,335 | | | 48,858 | | | 161,152 | | | 152,824 | | | | | | | | | | | | | | | |
| Other income | | — | | | — | | | (4,173) | | | — | | | | | | | | | | | | | | | |
| Restructuring and impairment costs | | 19,979 | | | — | | | 19,979 | | | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Operating income | | 60,186 | | | 44,115 | | | 85,065 | | | 94,828 | | | | | | | | | | | | | | | |
| Equity in pretax earnings (loss) of unconsolidated affiliates | | 1,506 | | | (69) | | | 2,089 | | | 2,281 | | | | | | | | | | | | | | | |
| Other non-operating income (expense) | | 30 | | | 633 | | | (8) | | | 1,893 | | | | | | | | | | | | | | | |
| Interest income | | 2 | | | 164 | | | 262 | | | 1,412 | | | | | | | | | | | | | | | |
| Interest expense | | 6,735 | | | 5,197 | | | 19,140 | | | 14,361 | | | | | | | | | | | | | | | |
| Income before income taxes and other items | | 54,989 | | | 39,646 | | | 68,268 | | | 86,053 | | | | | | | | | | | | | | | |
| Income taxes | | 14,548 | | | 10,328 | | | 12,678 | | | 26,093 | | | | | | | | | | | | | | | |
| Net income | | 40,441 | | | 29,318 | | | 55,590 | | | 59,960 | | | | | | | | | | | | | | | |
| Less: net loss (income) attributable to noncontrolling interests in subsidiaries | | (7,168) | | | (3,352) | | | (7,541) | | | (3,845) | | | | | | | | | | | | | | | |
| Net income attributable to Universal Corporation | | $ | 33,273 | | | $ | 25,966 | | | $ | 48,049 | | | $ | 56,115 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Earnings per share: | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | $ | 1.35 | | | $ | 1.04 | | | $ | 1.95 | | | $ | 2.24 | | | | | | | | | | | |
| Diluted | | $ | 1.34 | | | $ | 1.04 | | | $ | 1.94 | | | $ | 2.23 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Weighted average common shares outstanding: | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | 24,677,122 | | | 24,931,711 | | | 24,646,342 | | | 25,058,525 | | | | | | | | | | | | | | | |
| Diluted | | 24,818,918 | | | 25,055,054 | | | 24,764,439 | | | 25,178,517 | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Total comprehensive income, net of income taxes | | $ | 55,681 | | | $ | 40,023 | | | $ | 84,950 | | | $ | 51,479 | | | | | | | | | | | |
| Less: comprehensive (income) loss attributable to noncontrolling interests | | (7,114) | | | (3,491) | | | (7,566) | | | (3,983) | | | | | | | | | | | | | | | |
| Comprehensive income (loss) attributable to Universal Corporation | | $ | 48,567 | | | $ | 36,532 | | | $ | 77,384 | | | $ | 47,496 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Dividends declared per common share | | $ | 0.77 | | | $ | 0.76 | | | $ | 2.31 | | | $ | 2.28 | | | | | | | | | | | |
---
English News:
Genomic Vision Announces the Availability of the Prospectus Relating to the Financing Program Concluded With Winance for a Maximum Amount of 12 Million - BAGNEUX, France--(BUSINESS WIRE)--Regulatory News: Genomic Vision (Paris:GV) (the Company - FR0011799907 - GV), a biotechnology company that develops tools and services dedicated to the analysis and control of changes in the genome, today announces the availability of the prospectus relating to the financing program concluded with Winance in form of convertible notes with equity warrants attached (OCABSA) for a maximum amount of 12 million. The prospectus approved by the Autorit des marchs financiers (AMF) on February 9, 2021 under No. 21-028, consisting of a Securities Note and a Universal Registration Document filed with the AMF under No. R21-002, is available at the Company's registered office (80/84 Rue des Meuniers, 92220 Bagneux), on the Company's website (www.genomicvision.com) and on that of the AMF (www.amf-france.org). It should be noted that on June 15, 2020, the Company announced the signing of a contract with Winance on June 11, 2020 to setting up a financing line by issuing convertible bonds (the OC) into ordinary shares to each of which will be attached a share subscription warrant (the BSA and together with the shares to which they are attached the ABSA and with the OC the OCABSA), for a maximum total amount of 12 million euros, it being specified that neither the OC nor the BSA will be listed. This financing is intended to ensure the Company's continuity beyond May 2021 and to provide financial visibility until 2022 by granting it additional resources to secure and pursue its development and to cover the Company's current and structural expenses. The extraordinary general meeting of the Company which met on October 30, 2020 approved the implementation of this financing and a first tranche of OCABSA for an amount of 0.8 million was already draw down last November. Filing of a prospectus was required as the issuance of one or more additional tranches of OCABSA may lead to the issuance of a number of shares that may exceed 20% of Genomic Vision's share capital over 12 months. *** ABOUT GENOMIC VISION GENOMIC VISION is a biotechnology company developing products and services dedicated to the analysis (structural and functional) of genome modifications as well as to the quality and safety control of these modifications, in particular in genome editing technologies and biomanufacturing processes. Genomic Vision proprietary tools, based on DNA combing technology and artificial intelligence, provide robust quantitative measurements needed to high confidence characterization of DNA alteration in the genome. These tools are mainly used for monitoring DNA replication in cancerous cell, for early cancer detection and the diagnosis of genetic diseases. Based near Paris, in Bagneux, the Company has approximately 30 employees. GENOMIC VISION is a public listed company listed in compartment C of Euronexts regulated market in Paris (Euronext: GV ISIN: FR0011799907). For further information, please visit www.genomicvision.com. *** Member of the CAC Mid & Small and CAC All-Tradable indexes FORWARD LOOKING STATEMENT This press release contains implicitly or explicitly certain forward-looking statements concerning Genomic Vision and its business. Such forward-looking statements are based on assumptions that Genomic Vision considers to be reasonable. However, there can be no assurance that such forward-looking statements will be verified, which statements are subject to numerous risks, including the risks set forth in the Risk Factors section of the universal registration document filed with the AMF on February 9, 2021 under reference number R.21-002, available on the web site of Genomic Vision (www.genomicvision.com) and to the development of economic conditions, financial markets and the markets in which Genomic Vision operates. The forward-looking statements contained in this press release are also subject to risks not yet known to Genomic Vision or not currently considered material by Genomic Vision. The occurrence of all or part of such risks could cause actual results, financial conditions, performance or achievements of Genomic Vision to be materially different from such forward-looking statements. This press release and the information contained herein do not constitute and should not be construed as an offer or an invitation to sell or subscribe, or the solicitation of any order or invitation to purchase or subscribe for Genomic Vision shares in any country. The distribution of this press release in certain countries may be a breach of applicable laws. The persons in possession of this press release must inquire about any local restrictions and comply with these restrictions.
Chinese News:
近日环球烟草公布财报，公告显示该公司2020财年第一财季归属于母公司普通股股东净利润为727.40万美元，同比增长251.06%；营业收入为3.16亿美元，同比上涨6.36%。Universal Corporation是一家领先的烟叶烟草供应商，在5大洲超过30个国家都有业务。
Japanese News:
ユニバーサル・コーポレーション（Universal Corporation）は、2020年12月31日に終了した2021年度第3四半期（2020年10月～12月）の連結決算を発表した。 第3四半期の売上高は6億7,293万1,000米ドルとなり、前年同期（5億504万9,000米ドル）に比べて大幅に増加した。営業利益は6,018万6,000米ドルとなり、前年同期の4,411万5,000米ドルから増加した。純利益は3,327万3,000米ドルで、前年同期の2,596万6,000米ドルを上回った。 また、継続事業からの1株当たり基本利益（EPS）は1.35米ドルとなり、前年同期の1.04米ドルを上回った。同じく継続事業からの1株当たり希薄化後利益（Diluted EPS）も1.34米ドルと、前年同期の1.04米ドルから増加している。 2021年度の9カ月間（2020年4月～12月）の売上高は13億6,576万7,000米ドルとなり、前年同期（12億7,788万5,000米ドル）と比較して増加した。一方、同期間の営業利益は8,506万5,000米ドルで、前年同期の9,482万8,000米ドルを下回った。純利益も前年同期の5,611万5,000米ドルから減少し、4,804万9,000米ドルとなった。 また、9カ月間の1株当たり基本利益（EPS）は前年同期の2.24米ドルから1.95米ドルに、希薄化後1株当たり利益（Diluted EPS）は前年同期の2.23米ドルから1.94米ドルにそれぞれ低下した。 ユニバーサル・コーポレーションはアメリカを拠点とする大手葉タバコサプライヤーで、世界5大陸30カ国以上で事業を展開している。
Spanish News:
Universal Corporation ha anunciado los resultados del tercer trimestre que finalizó el 31 de diciembre de 2020. Para el tercer trimestre, la empresa anunció que las ventas fueron de 672,931 millones de dólares, frente a los 505,049 millones de dólares de hace un año. Los ingresos de explotación fueron de 60,186 millones de dólares, frente a los 44,115 millones de hace un año. Los ingresos netos fueron de 33,273 millones de dólares, frente a los 25,966 millones de dólares de hace un año. El beneficio básico por acción de las operaciones continuas fue de 1,35 dólares, frente a los 1,04 dólares de hace un año. El beneficio diluido por acción de las operaciones continuas fue de 1,34 dólares, frente a los 1,04 dólares de hace un año. En los nueve meses, las ventas fueron de 1.365,767 millones de dólares, frente a los 1.277,885 millones de dólares de hace un año. Los ingresos de explotación fueron de 85,065 millones de dólares, frente a los 94,828 de hace un año. Los ingresos netos fueron de 48,049 millones de dólares, frente a los 56,115 millones de dólares de hace un año. El beneficio básico por acción de las operaciones continuas fue de 1,95 dólares, frente a los 2,24 dólares de hace un año. El beneficio diluido por acción de las operaciones continuas fue de 1,94 dólares, frente a los 2,23 dólares de hace un año.
Greek News:
Κατά το τρίτο οικονομικό τρίμηνο του 2021, η Universal Corporation (UVV) συνέχισε την υλοποίηση της στρατηγικής κατανομής κεφαλαίων της, επιδιώκοντας την ενίσχυση της παρουσίας της πέρα από τον βασικό της κλάδο, δηλαδή αυτόν του καπνού φύλλων. Στο πλαίσιο αυτής της κατανομής, ιδιαίτερη έμφαση δόθηκε στην επέκταση της πλατφόρμας φυτικών συστατικών μέσω στοχευμένων εξαγορών και στρατηγικών συγχωνεύσεων. Συγκεκριμένα, την 1η Οκτωβρίου 2020, η εταιρεία προχώρησε στην εξαγορά της εταιρείας Silva International, Inc. για το ποσό περίπου $ 164 εκατομμυρίων. Η Silva, με δραστηριότητα στον χώρο των αποξηραμένων φυτικών συστατικών, ενσωματώθηκε λειτουργικά με τη θυγατρική FruitSmart, με στόχο τη δημιουργία συνεργειών και την παροχή μιας ενιαίας πλατφόρμας λύσεων σε προϊόντα φρούτων και λαχανικών. Η κίνηση αυτή εντάσσεται στη γενικότερη στρατηγική της UVV για διαφοροποίηση της δραστηριότητάς της, εξερεύνηση μη καπνικών αγορών και ενίσχυση της μακροπρόθεσμης αξίας για τους μετόχους. Παράλληλα, στο ίδιο τρίμηνο, η εταιρεία αποφάσισε να τερματίσει τη δραστηριότητα επεξεργασίας γλυκοπατάτας της θυγατρικής Carolina Innovative Food Ingredients (CIFI). Η απόφαση αυτή ελήφθη λόγω στρατηγικής ασυμβατότητας της δραστηριότητας με τον ευρύτερο επιχειρησιακό σχεδιασμό, καθώς και εξαιτίας των έντονων ανταγωνιστικών πιέσεων στην εν λόγω αγορά.
Question:
Please list the top three focuses on revenue from news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | Please list the top three focuses on revenue from news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: 1. Strong growth in Q3 2020 revenue compared to prior year 2. Expansion into plant-based ingredients through Silva International acquisition. 3. Termination of sweet potato processing business at CIFI subsidiary
Financial Statement Evidence: Sales and other operating revenues Q3 2020: $672,931 vs Q3 2019: $505,049; Nine months 2020: $1,365,767 vs 2019: $1,277,885; Purchase of business, net of cash held by the business: $(161,095) in investing activities |
UVV_20210208 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 |
|:------------------------------------------------------|:-----------|:-------------|:-----------|:-------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | |
| | | December 31, | | December 31, | | March 31, | | | | | | | | | | | | | | |
| | | 2020 | | 2019 | | 2020 | | | | | | | | | | | | | | |
| | | (Unaudited) | | (Unaudited) | | | | | | | | | | | | | | | | |
| ASSETS | | | | | | | | | | | | | | | | | | | | |
| Current assets | | | | | | | | | | | | | | | | | | | | |
| Cash and cash equivalents | | $ | 95,405 | | | $ | 64,734 | | | $ | 107,430 | | | | | | | | | |
| Accounts receivable, net | | 354,676 | | | 271,981 | | | 340,711 | | | | | | | | | | | | |
| Advances to suppliers, net | | 102,795 | | | 120,079 | | | 133,778 | | | | | | | | | | | | |
| Accounts receivable—unconsolidated affiliates | | 6,197 | | | 24,748 | | | 11,483 | | | | | | | | | | | | |
| Inventories—at lower of cost or net realizable value: | | | | | | | | | | | | | | | | | | | | |
| Tobacco | | 814,287 | | | 937,661 | | | 707,298 | | | | | | | | | | | | |
| Other | | 144,333 | | | 84,621 | | | 99,275 | | | | | | | | | | | | |
| Prepaid income taxes | | 18,174 | | | 13,619 | | | 12,144 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Other current assets | | 68,928 | | | 61,450 | | | 67,498 | | | | | | | | | | | | |
| Total current assets | | 1,604,795 | | | 1,578,893 | | | 1,479,617 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Property, plant and equipment | | | | | | | | | | | | | | | | | | | | |
| Land | | 22,499 | | | 22,510 | | | 21,376 | | | | | | | | | | | | |
| Buildings | | 268,377 | | | 255,202 | | | 256,488 | | | | | | | | | | | | |
| Machinery and equipment | | 662,854 | | | 609,976 | | | 634,395 | | | | | | | | | | | | |
| | | 953,730 | | | 887,688 | | | 912,259 | | | | | | | | | | | | |
| Less accumulated depreciation | | (621,928) | | | (592,457) | | | (597,106) | | | | | | | | | | | | |
| | | 331,802 | | | 295,231 | | | 315,153 | | | | | | | | | | | | |
| Other assets | | | | | | | | | | | | | | | | | | | | |
| Operating lease right-of-use assets | | 34,717 | | | 34,230 | | | 39,256 | | | | | | | | | | | | |
| Goodwill and other intangibles, net | | 255,365 | | | 98,042 | | | 144,687 | | | | | | | | | | | | |
| Investments in unconsolidated affiliates | | 85,610 | | | 77,783 | | | 77,543 | | | | | | | | | | | | |
| Deferred income taxes | | 22,281 | | | 16,354 | | | 20,954 | | | | | | | | | | | | |
| Other noncurrent assets | | 54,071 | | | 50,186 | | | 43,711 | | | | | | | | | | | | |
| | | 452,044 | | | 276,595 | | | 326,151 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Total assets | | $ | 2,388,641 | | | $ | 2,150,719 | | | $ | 2,120,921 | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 |
|:------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-----------|:-------------|:-----------|:-------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | |
| | | December 31, | | December 31, | | March 31, | | | | | | | | | | | | | | |
| | | 2020 | | 2019 | | 2020 | | | | | | | | | | | | | | |
| | | (Unaudited) | | (Unaudited) | | | | | | | | | | | | | | | | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | | | | | | | | | | | | | | |
| Current liabilities | | | | | | | | | | | | | | | | | | | | |
| Notes payable and overdrafts | | $ | 129,603 | | | $ | 92,592 | | | $ | 78,033 | | | | | | | | | |
| Accounts payable and accrued expenses | | 156,421 | | | 130,165 | | | 140,202 | | | | | | | | | | | | |
| Accounts payable—unconsolidated affiliates | | 7,416 | | | 7,494 | | | 55 | | | | | | | | | | | | |
| Customer advances and deposits | | 14,498 | | | 8,230 | | | 10,242 | | | | | | | | | | | | |
| Accrued compensation | | 22,744 | | | 21,761 | | | 23,710 | | | | | | | | | | | | |
| Income taxes payable | | 6,650 | | | 1,991 | | | 5,334 | | | | | | | | | | | | |
| Current portion of operating lease liabilities | | 9,014 | | | 8,394 | | | 9,823 | | | | | | | | | | | | |
| Current portion of long-term debt | | — | | | — | | | — | | | | | | | | | | | | |
| Total current liabilities | | 346,346 | | | 270,627 | | | 267,399 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Long-term debt | | 518,047 | | | 368,698 | | | 368,764 | | | | | | | | | | | | |
| Pensions and other postretirement benefits | | 66,764 | | | 55,305 | | | 70,680 | | | | | | | | | | | | |
| Long-term operating lease liabilities | | 22,709 | | | 23,465 | | | 25,893 | | | | | | | | | | | | |
| Other long-term liabilities | | 71,346 | | | 51,185 | | | 69,427 | | | | | | | | | | | | |
| Deferred income taxes | | 46,414 | | | 28,228 | | | 29,474 | | | | | | | | | | | | |
| Total liabilities | | 1,071,626 | | | 797,508 | | | 831,637 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Shareholders’ equity | | | | | | | | | | | | | | | | | | | | |
| Universal Corporation: | | | | | | | | | | | | | | | | | | | | |
| Preferred stock: | | | | | | | | | | | | | | | | | | | | |
| Series A Junior Participating Preferred Stock, no par value,500,000shares authorized,noneissued or outstanding | | — | | | — | | | — | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Common stock, no par value,100,000,000shares authorized24,514,867shares issued and outstanding at December 31, 2020 (24,693,557at December 31, 2019 and24,421,835at March 31, 2020) | | 325,350 | | | 324,388 | | | 321,502 | | | | | | | | | | | | |
| Retained earnings | | 1,067,437 | | | 1,089,718 | | | 1,076,760 | | | | | | | | | | | | |
| Accumulated other comprehensive loss | | (122,262) | | | (104,310) | | | (151,597) | | | | | | | | | | | | |
| Total Universal Corporation shareholders' equity | | 1,270,525 | | | 1,309,796 | | | 1,246,665 | | | | | | | | | | | | |
| Noncontrolling interests in subsidiaries | | 46,490 | | | 43,415 | | | 42,619 | | | | | | | | | | | | |
| Total shareholders' equity | | 1,317,015 | | | 1,353,211 | | | 1,289,284 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Total liabilities and shareholders' equity | | $ | 2,388,641 | | | $ | 2,150,719 | | | $ | 2,120,921 | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 |
|:--------------------------------------------------------------------------------------|:-----------|:-------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | |
| | | Nine Months Ended December 31, | | | | | | | | | | | | |
| | | 2020 | | 2019 | | | | | | | | | | |
| | | (Unaudited) | | | | | | | | | | | | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | | | | | | | | | | | | | | |
| Net income | | $ | 55,590 | | | $ | 59,960 | | | | | | | |
| Adjustments to reconcile net income to net cash used by operating activities: | | | | | | | | | | | | | | |
| Depreciation and amortization | | 32,626 | | | 27,500 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Net provision for losses (recoveries) on advances and guaranteed loans to suppliers | | 2,753 | | | 93 | | | | | | | | | |
| Foreign currency remeasurement (gain) loss, net | | (8,823) | | | (2,179) | | | | | | | | | |
| Foreign currency exchange contracts | | (7,723) | | | (698) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Restructuring and impairment costs | | 19,979 | | | — | | | | | | | | | |
| Restructuring payments | | (5,179) | | | (444) | | | | | | | | | |
| Change in estimated fair value of contingent consideration for FruitSmart acquisition | | (4,173) | | | — | | | | | | | | | |
| Other, net | | 5,260 | | | 3,412 | | | | | | | | | |
| Changes in operating assets and liabilities, net | | (51,687) | | | (260,542) | | | | | | | | | |
| Net cash provided (used) by operating activities | | 38,623 | | | (172,898) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | | | | | | | | |
| Purchase of property, plant and equipment | | (33,794) | | | (21,692) | | | | | | | | | |
| Purchase of business, net of cash held by the business | | (161,095) | | | — | | | | | | | | | |
| Proceeds from sale of property, plant and equipment | | 4,086 | | | 2,946 | | | | | | | | | |
| Other | | (800) | | | 496 | | | | | | | | | |
| Net cash used by investing activities | | (191,603) | | | (18,250) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | | | | | | | |
| Issuance of short-term debt, net | | 57,207 | | | 41,201 | | | | | | | | | |
| Issuance of long-term debt | | 150,000 | | | — | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Dividends paid to noncontrolling interests | | (3,695) | | | (3,359) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Repurchase of common stock | | — | | | (20,125) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Dividends paid on common stock | | (56,301) | | | (56,601) | | | | | | | | | |
| Other | | (1,949) | | | (2,883) | | | | | | | | | |
| Net cash provided (used) by financing activities | | 145,262 | | | (41,767) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Effect of exchange rate changes on cash | | 1,693 | | | 93 | | | | | | | | | |
| Net decrease in cash, restricted cash and cash equivalents | | (6,025) | | | (232,822) | | | | | | | | | |
| Cash, restricted cash and cash equivalents at beginning of year | | 107,430 | | | 297,556 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Cash, restricted cash and cash equivalents at end of period | | $ | 101,405 | | | $ | 64,734 | | | | | | | |
| | | | | | | | | | | | | | | |
| Supplemental Information: | | | | | | | | | | | | | | |
| Cash and cash equivalents | | $ | 95,405 | | | $ | 64,734 | | | | | | | |
| Restricted cash (Other noncurrent assets) | | 6,000 | | | — | | | | | | | | | |
| Total cash, restricted cash and cash equivalents | | $ | 101,405 | | | $ | 64,734 | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 | Column 22 | Column 23 | Column 24 | Column 25 | Column 26 | Column 27 |
|:----------------------------------------------------------------------------------|:-----------|:--------------------------------|:-----------|:-------------------------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Three Months Ended December 31, | | Nine Months Ended December 31, | | | | | | | | | | | | | | | | | | | | | | |
| | | 2020 | | 2019 | | 2020 | | 2019 | | | | | | | | | | | | | | | | | | |
| | | (Unaudited) | | (Unaudited) | | | | | | | | | | | | | | | | | | | | | | |
| Sales and other operating revenues | | $ | 672,931 | | | $ | 505,049 | | | $ | 1,365,767 | | | $ | 1,277,885 | | | | | | | | | | | |
| Costs and expenses | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Cost of goods sold | | 533,431 | | | 412,076 | | | 1,103,744 | | | 1,030,233 | | | | | | | | | | | | | | | |
| Selling, general and administrative expenses | | 59,335 | | | 48,858 | | | 161,152 | | | 152,824 | | | | | | | | | | | | | | | |
| Other income | | — | | | — | | | (4,173) | | | — | | | | | | | | | | | | | | | |
| Restructuring and impairment costs | | 19,979 | | | — | | | 19,979 | | | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Operating income | | 60,186 | | | 44,115 | | | 85,065 | | | 94,828 | | | | | | | | | | | | | | | |
| Equity in pretax earnings (loss) of unconsolidated affiliates | | 1,506 | | | (69) | | | 2,089 | | | 2,281 | | | | | | | | | | | | | | | |
| Other non-operating income (expense) | | 30 | | | 633 | | | (8) | | | 1,893 | | | | | | | | | | | | | | | |
| Interest income | | 2 | | | 164 | | | 262 | | | 1,412 | | | | | | | | | | | | | | | |
| Interest expense | | 6,735 | | | 5,197 | | | 19,140 | | | 14,361 | | | | | | | | | | | | | | | |
| Income before income taxes and other items | | 54,989 | | | 39,646 | | | 68,268 | | | 86,053 | | | | | | | | | | | | | | | |
| Income taxes | | 14,548 | | | 10,328 | | | 12,678 | | | 26,093 | | | | | | | | | | | | | | | |
| Net income | | 40,441 | | | 29,318 | | | 55,590 | | | 59,960 | | | | | | | | | | | | | | | |
| Less: net loss (income) attributable to noncontrolling interests in subsidiaries | | (7,168) | | | (3,352) | | | (7,541) | | | (3,845) | | | | | | | | | | | | | | | |
| Net income attributable to Universal Corporation | | $ | 33,273 | | | $ | 25,966 | | | $ | 48,049 | | | $ | 56,115 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Earnings per share: | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | $ | 1.35 | | | $ | 1.04 | | | $ | 1.95 | | | $ | 2.24 | | | | | | | | | | | |
| Diluted | | $ | 1.34 | | | $ | 1.04 | | | $ | 1.94 | | | $ | 2.23 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Weighted average common shares outstanding: | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | 24,677,122 | | | 24,931,711 | | | 24,646,342 | | | 25,058,525 | | | | | | | | | | | | | | | |
| Diluted | | 24,818,918 | | | 25,055,054 | | | 24,764,439 | | | 25,178,517 | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Total comprehensive income, net of income taxes | | $ | 55,681 | | | $ | 40,023 | | | $ | 84,950 | | | $ | 51,479 | | | | | | | | | | | |
| Less: comprehensive (income) loss attributable to noncontrolling interests | | (7,114) | | | (3,491) | | | (7,566) | | | (3,983) | | | | | | | | | | | | | | | |
| Comprehensive income (loss) attributable to Universal Corporation | | $ | 48,567 | | | $ | 36,532 | | | $ | 77,384 | | | $ | 47,496 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Dividends declared per common share | | $ | 0.77 | | | $ | 0.76 | | | $ | 2.31 | | | $ | 2.28 | | | | | | | | | | | |
---
English News:
Genomic Vision Announces the Availability of the Prospectus Relating to the Financing Program Concluded With Winance for a Maximum Amount of 12 Million - BAGNEUX, France--(BUSINESS WIRE)--Regulatory News: Genomic Vision (Paris:GV) (the Company - FR0011799907 - GV), a biotechnology company that develops tools and services dedicated to the analysis and control of changes in the genome, today announces the availability of the prospectus relating to the financing program concluded with Winance in form of convertible notes with equity warrants attached (OCABSA) for a maximum amount of 12 million. The prospectus approved by the Autorit des marchs financiers (AMF) on February 9, 2021 under No. 21-028, consisting of a Securities Note and a Universal Registration Document filed with the AMF under No. R21-002, is available at the Company's registered office (80/84 Rue des Meuniers, 92220 Bagneux), on the Company's website (www.genomicvision.com) and on that of the AMF (www.amf-france.org). It should be noted that on June 15, 2020, the Company announced the signing of a contract with Winance on June 11, 2020 to setting up a financing line by issuing convertible bonds (the OC) into ordinary shares to each of which will be attached a share subscription warrant (the BSA and together with the shares to which they are attached the ABSA and with the OC the OCABSA), for a maximum total amount of 12 million euros, it being specified that neither the OC nor the BSA will be listed. This financing is intended to ensure the Company's continuity beyond May 2021 and to provide financial visibility until 2022 by granting it additional resources to secure and pursue its development and to cover the Company's current and structural expenses. The extraordinary general meeting of the Company which met on October 30, 2020 approved the implementation of this financing and a first tranche of OCABSA for an amount of 0.8 million was already draw down last November. Filing of a prospectus was required as the issuance of one or more additional tranches of OCABSA may lead to the issuance of a number of shares that may exceed 20% of Genomic Vision's share capital over 12 months. *** ABOUT GENOMIC VISION GENOMIC VISION is a biotechnology company developing products and services dedicated to the analysis (structural and functional) of genome modifications as well as to the quality and safety control of these modifications, in particular in genome editing technologies and biomanufacturing processes. Genomic Vision proprietary tools, based on DNA combing technology and artificial intelligence, provide robust quantitative measurements needed to high confidence characterization of DNA alteration in the genome. These tools are mainly used for monitoring DNA replication in cancerous cell, for early cancer detection and the diagnosis of genetic diseases. Based near Paris, in Bagneux, the Company has approximately 30 employees. GENOMIC VISION is a public listed company listed in compartment C of Euronexts regulated market in Paris (Euronext: GV ISIN: FR0011799907). For further information, please visit www.genomicvision.com. *** Member of the CAC Mid & Small and CAC All-Tradable indexes FORWARD LOOKING STATEMENT This press release contains implicitly or explicitly certain forward-looking statements concerning Genomic Vision and its business. Such forward-looking statements are based on assumptions that Genomic Vision considers to be reasonable. However, there can be no assurance that such forward-looking statements will be verified, which statements are subject to numerous risks, including the risks set forth in the Risk Factors section of the universal registration document filed with the AMF on February 9, 2021 under reference number R.21-002, available on the web site of Genomic Vision (www.genomicvision.com) and to the development of economic conditions, financial markets and the markets in which Genomic Vision operates. The forward-looking statements contained in this press release are also subject to risks not yet known to Genomic Vision or not currently considered material by Genomic Vision. The occurrence of all or part of such risks could cause actual results, financial conditions, performance or achievements of Genomic Vision to be materially different from such forward-looking statements. This press release and the information contained herein do not constitute and should not be construed as an offer or an invitation to sell or subscribe, or the solicitation of any order or invitation to purchase or subscribe for Genomic Vision shares in any country. The distribution of this press release in certain countries may be a breach of applicable laws. The persons in possession of this press release must inquire about any local restrictions and comply with these restrictions.
Chinese News:
近日环球烟草公布财报，公告显示该公司2020财年第一财季归属于母公司普通股股东净利润为727.40万美元，同比增长251.06%；营业收入为3.16亿美元，同比上涨6.36%。Universal Corporation是一家领先的烟叶烟草供应商，在5大洲超过30个国家都有业务。
Japanese News:
ユニバーサル・コーポレーション（Universal Corporation）は、2020年12月31日に終了した2021年度第3四半期（2020年10月～12月）の連結決算を発表した。 第3四半期の売上高は6億7,293万1,000米ドルとなり、前年同期（5億504万9,000米ドル）に比べて大幅に増加した。営業利益は6,018万6,000米ドルとなり、前年同期の4,411万5,000米ドルから増加した。純利益は3,327万3,000米ドルで、前年同期の2,596万6,000米ドルを上回った。 また、継続事業からの1株当たり基本利益（EPS）は1.35米ドルとなり、前年同期の1.04米ドルを上回った。同じく継続事業からの1株当たり希薄化後利益（Diluted EPS）も1.34米ドルと、前年同期の1.04米ドルから増加している。 2021年度の9カ月間（2020年4月～12月）の売上高は13億6,576万7,000米ドルとなり、前年同期（12億7,788万5,000米ドル）と比較して増加した。一方、同期間の営業利益は8,506万5,000米ドルで、前年同期の9,482万8,000米ドルを下回った。純利益も前年同期の5,611万5,000米ドルから減少し、4,804万9,000米ドルとなった。 また、9カ月間の1株当たり基本利益（EPS）は前年同期の2.24米ドルから1.95米ドルに、希薄化後1株当たり利益（Diluted EPS）は前年同期の2.23米ドルから1.94米ドルにそれぞれ低下した。 ユニバーサル・コーポレーションはアメリカを拠点とする大手葉タバコサプライヤーで、世界5大陸30カ国以上で事業を展開している。
Spanish News:
Universal Corporation ha anunciado los resultados del tercer trimestre que finalizó el 31 de diciembre de 2020. Para el tercer trimestre, la empresa anunció que las ventas fueron de 672,931 millones de dólares, frente a los 505,049 millones de dólares de hace un año. Los ingresos de explotación fueron de 60,186 millones de dólares, frente a los 44,115 millones de hace un año. Los ingresos netos fueron de 33,273 millones de dólares, frente a los 25,966 millones de dólares de hace un año. El beneficio básico por acción de las operaciones continuas fue de 1,35 dólares, frente a los 1,04 dólares de hace un año. El beneficio diluido por acción de las operaciones continuas fue de 1,34 dólares, frente a los 1,04 dólares de hace un año. En los nueve meses, las ventas fueron de 1.365,767 millones de dólares, frente a los 1.277,885 millones de dólares de hace un año. Los ingresos de explotación fueron de 85,065 millones de dólares, frente a los 94,828 de hace un año. Los ingresos netos fueron de 48,049 millones de dólares, frente a los 56,115 millones de dólares de hace un año. El beneficio básico por acción de las operaciones continuas fue de 1,95 dólares, frente a los 2,24 dólares de hace un año. El beneficio diluido por acción de las operaciones continuas fue de 1,94 dólares, frente a los 2,23 dólares de hace un año.
Greek News:
Κατά το τρίτο οικονομικό τρίμηνο του 2021, η Universal Corporation (UVV) συνέχισε την υλοποίηση της στρατηγικής κατανομής κεφαλαίων της, επιδιώκοντας την ενίσχυση της παρουσίας της πέρα από τον βασικό της κλάδο, δηλαδή αυτόν του καπνού φύλλων. Στο πλαίσιο αυτής της κατανομής, ιδιαίτερη έμφαση δόθηκε στην επέκταση της πλατφόρμας φυτικών συστατικών μέσω στοχευμένων εξαγορών και στρατηγικών συγχωνεύσεων. Συγκεκριμένα, την 1η Οκτωβρίου 2020, η εταιρεία προχώρησε στην εξαγορά της εταιρείας Silva International, Inc. για το ποσό περίπου $ 164 εκατομμυρίων. Η Silva, με δραστηριότητα στον χώρο των αποξηραμένων φυτικών συστατικών, ενσωματώθηκε λειτουργικά με τη θυγατρική FruitSmart, με στόχο τη δημιουργία συνεργειών και την παροχή μιας ενιαίας πλατφόρμας λύσεων σε προϊόντα φρούτων και λαχανικών. Η κίνηση αυτή εντάσσεται στη γενικότερη στρατηγική της UVV για διαφοροποίηση της δραστηριότητάς της, εξερεύνηση μη καπνικών αγορών και ενίσχυση της μακροπρόθεσμης αξίας για τους μετόχους. Παράλληλα, στο ίδιο τρίμηνο, η εταιρεία αποφάσισε να τερματίσει τη δραστηριότητα επεξεργασίας γλυκοπατάτας της θυγατρικής Carolina Innovative Food Ingredients (CIFI). Η απόφαση αυτή ελήφθη λόγω στρατηγικής ασυμβατότητας της δραστηριότητας με τον ευρύτερο επιχειρησιακό σχεδιασμό, καθώς και εξαιτίας των έντονων ανταγωνιστικών πιέσεων στην εν λόγω αγορά.
Question:
How is the company allocating capital (e.g., investments, share repurchases, dividends) based on its performance and market outlook from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | How is the company allocating capital (e.g., investments, share repurchases, dividends) based on its performance and market outlook from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: The company is pursuing strategic diversification beyond tobacco through acquisitions, particularly the $164 million acquisition of Silva International. This aligns with their capital allocation strategy to enhance presence in non-tobacco sectors and create synergies with existing plant ingredients platform like FruitSmart. They're also divesting underperforming assets like CIFI sweet potato business.
Financial Statement Evidence: Purchase of business, net of cash held by the business: $(161,095); Net cash used by investing activities: $(191,603); Dividends paid on common stock: $(56,301); Short-term debt issuance, net: $57,207; Long-term debt issuance: $150,000 |
UVV_20210208 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 |
|:------------------------------------------------------|:-----------|:-------------|:-----------|:-------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | |
| | | December 31, | | December 31, | | March 31, | | | | | | | | | | | | | | |
| | | 2020 | | 2019 | | 2020 | | | | | | | | | | | | | | |
| | | (Unaudited) | | (Unaudited) | | | | | | | | | | | | | | | | |
| ASSETS | | | | | | | | | | | | | | | | | | | | |
| Current assets | | | | | | | | | | | | | | | | | | | | |
| Cash and cash equivalents | | $ | 95,405 | | | $ | 64,734 | | | $ | 107,430 | | | | | | | | | |
| Accounts receivable, net | | 354,676 | | | 271,981 | | | 340,711 | | | | | | | | | | | | |
| Advances to suppliers, net | | 102,795 | | | 120,079 | | | 133,778 | | | | | | | | | | | | |
| Accounts receivable—unconsolidated affiliates | | 6,197 | | | 24,748 | | | 11,483 | | | | | | | | | | | | |
| Inventories—at lower of cost or net realizable value: | | | | | | | | | | | | | | | | | | | | |
| Tobacco | | 814,287 | | | 937,661 | | | 707,298 | | | | | | | | | | | | |
| Other | | 144,333 | | | 84,621 | | | 99,275 | | | | | | | | | | | | |
| Prepaid income taxes | | 18,174 | | | 13,619 | | | 12,144 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Other current assets | | 68,928 | | | 61,450 | | | 67,498 | | | | | | | | | | | | |
| Total current assets | | 1,604,795 | | | 1,578,893 | | | 1,479,617 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Property, plant and equipment | | | | | | | | | | | | | | | | | | | | |
| Land | | 22,499 | | | 22,510 | | | 21,376 | | | | | | | | | | | | |
| Buildings | | 268,377 | | | 255,202 | | | 256,488 | | | | | | | | | | | | |
| Machinery and equipment | | 662,854 | | | 609,976 | | | 634,395 | | | | | | | | | | | | |
| | | 953,730 | | | 887,688 | | | 912,259 | | | | | | | | | | | | |
| Less accumulated depreciation | | (621,928) | | | (592,457) | | | (597,106) | | | | | | | | | | | | |
| | | 331,802 | | | 295,231 | | | 315,153 | | | | | | | | | | | | |
| Other assets | | | | | | | | | | | | | | | | | | | | |
| Operating lease right-of-use assets | | 34,717 | | | 34,230 | | | 39,256 | | | | | | | | | | | | |
| Goodwill and other intangibles, net | | 255,365 | | | 98,042 | | | 144,687 | | | | | | | | | | | | |
| Investments in unconsolidated affiliates | | 85,610 | | | 77,783 | | | 77,543 | | | | | | | | | | | | |
| Deferred income taxes | | 22,281 | | | 16,354 | | | 20,954 | | | | | | | | | | | | |
| Other noncurrent assets | | 54,071 | | | 50,186 | | | 43,711 | | | | | | | | | | | | |
| | | 452,044 | | | 276,595 | | | 326,151 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Total assets | | $ | 2,388,641 | | | $ | 2,150,719 | | | $ | 2,120,921 | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 |
|:------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-----------|:-------------|:-----------|:-------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | |
| | | December 31, | | December 31, | | March 31, | | | | | | | | | | | | | | |
| | | 2020 | | 2019 | | 2020 | | | | | | | | | | | | | | |
| | | (Unaudited) | | (Unaudited) | | | | | | | | | | | | | | | | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | | | | | | | | | | | | | | |
| Current liabilities | | | | | | | | | | | | | | | | | | | | |
| Notes payable and overdrafts | | $ | 129,603 | | | $ | 92,592 | | | $ | 78,033 | | | | | | | | | |
| Accounts payable and accrued expenses | | 156,421 | | | 130,165 | | | 140,202 | | | | | | | | | | | | |
| Accounts payable—unconsolidated affiliates | | 7,416 | | | 7,494 | | | 55 | | | | | | | | | | | | |
| Customer advances and deposits | | 14,498 | | | 8,230 | | | 10,242 | | | | | | | | | | | | |
| Accrued compensation | | 22,744 | | | 21,761 | | | 23,710 | | | | | | | | | | | | |
| Income taxes payable | | 6,650 | | | 1,991 | | | 5,334 | | | | | | | | | | | | |
| Current portion of operating lease liabilities | | 9,014 | | | 8,394 | | | 9,823 | | | | | | | | | | | | |
| Current portion of long-term debt | | — | | | — | | | — | | | | | | | | | | | | |
| Total current liabilities | | 346,346 | | | 270,627 | | | 267,399 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Long-term debt | | 518,047 | | | 368,698 | | | 368,764 | | | | | | | | | | | | |
| Pensions and other postretirement benefits | | 66,764 | | | 55,305 | | | 70,680 | | | | | | | | | | | | |
| Long-term operating lease liabilities | | 22,709 | | | 23,465 | | | 25,893 | | | | | | | | | | | | |
| Other long-term liabilities | | 71,346 | | | 51,185 | | | 69,427 | | | | | | | | | | | | |
| Deferred income taxes | | 46,414 | | | 28,228 | | | 29,474 | | | | | | | | | | | | |
| Total liabilities | | 1,071,626 | | | 797,508 | | | 831,637 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Shareholders’ equity | | | | | | | | | | | | | | | | | | | | |
| Universal Corporation: | | | | | | | | | | | | | | | | | | | | |
| Preferred stock: | | | | | | | | | | | | | | | | | | | | |
| Series A Junior Participating Preferred Stock, no par value,500,000shares authorized,noneissued or outstanding | | — | | | — | | | — | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Common stock, no par value,100,000,000shares authorized24,514,867shares issued and outstanding at December 31, 2020 (24,693,557at December 31, 2019 and24,421,835at March 31, 2020) | | 325,350 | | | 324,388 | | | 321,502 | | | | | | | | | | | | |
| Retained earnings | | 1,067,437 | | | 1,089,718 | | | 1,076,760 | | | | | | | | | | | | |
| Accumulated other comprehensive loss | | (122,262) | | | (104,310) | | | (151,597) | | | | | | | | | | | | |
| Total Universal Corporation shareholders' equity | | 1,270,525 | | | 1,309,796 | | | 1,246,665 | | | | | | | | | | | | |
| Noncontrolling interests in subsidiaries | | 46,490 | | | 43,415 | | | 42,619 | | | | | | | | | | | | |
| Total shareholders' equity | | 1,317,015 | | | 1,353,211 | | | 1,289,284 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Total liabilities and shareholders' equity | | $ | 2,388,641 | | | $ | 2,150,719 | | | $ | 2,120,921 | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 |
|:--------------------------------------------------------------------------------------|:-----------|:-------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | |
| | | Nine Months Ended December 31, | | | | | | | | | | | | |
| | | 2020 | | 2019 | | | | | | | | | | |
| | | (Unaudited) | | | | | | | | | | | | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | | | | | | | | | | | | | | |
| Net income | | $ | 55,590 | | | $ | 59,960 | | | | | | | |
| Adjustments to reconcile net income to net cash used by operating activities: | | | | | | | | | | | | | | |
| Depreciation and amortization | | 32,626 | | | 27,500 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Net provision for losses (recoveries) on advances and guaranteed loans to suppliers | | 2,753 | | | 93 | | | | | | | | | |
| Foreign currency remeasurement (gain) loss, net | | (8,823) | | | (2,179) | | | | | | | | | |
| Foreign currency exchange contracts | | (7,723) | | | (698) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Restructuring and impairment costs | | 19,979 | | | — | | | | | | | | | |
| Restructuring payments | | (5,179) | | | (444) | | | | | | | | | |
| Change in estimated fair value of contingent consideration for FruitSmart acquisition | | (4,173) | | | — | | | | | | | | | |
| Other, net | | 5,260 | | | 3,412 | | | | | | | | | |
| Changes in operating assets and liabilities, net | | (51,687) | | | (260,542) | | | | | | | | | |
| Net cash provided (used) by operating activities | | 38,623 | | | (172,898) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | | | | | | | | |
| Purchase of property, plant and equipment | | (33,794) | | | (21,692) | | | | | | | | | |
| Purchase of business, net of cash held by the business | | (161,095) | | | — | | | | | | | | | |
| Proceeds from sale of property, plant and equipment | | 4,086 | | | 2,946 | | | | | | | | | |
| Other | | (800) | | | 496 | | | | | | | | | |
| Net cash used by investing activities | | (191,603) | | | (18,250) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | | | | | | | |
| Issuance of short-term debt, net | | 57,207 | | | 41,201 | | | | | | | | | |
| Issuance of long-term debt | | 150,000 | | | — | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Dividends paid to noncontrolling interests | | (3,695) | | | (3,359) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Repurchase of common stock | | — | | | (20,125) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Dividends paid on common stock | | (56,301) | | | (56,601) | | | | | | | | | |
| Other | | (1,949) | | | (2,883) | | | | | | | | | |
| Net cash provided (used) by financing activities | | 145,262 | | | (41,767) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Effect of exchange rate changes on cash | | 1,693 | | | 93 | | | | | | | | | |
| Net decrease in cash, restricted cash and cash equivalents | | (6,025) | | | (232,822) | | | | | | | | | |
| Cash, restricted cash and cash equivalents at beginning of year | | 107,430 | | | 297,556 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Cash, restricted cash and cash equivalents at end of period | | $ | 101,405 | | | $ | 64,734 | | | | | | | |
| | | | | | | | | | | | | | | |
| Supplemental Information: | | | | | | | | | | | | | | |
| Cash and cash equivalents | | $ | 95,405 | | | $ | 64,734 | | | | | | | |
| Restricted cash (Other noncurrent assets) | | 6,000 | | | — | | | | | | | | | |
| Total cash, restricted cash and cash equivalents | | $ | 101,405 | | | $ | 64,734 | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 | Column 22 | Column 23 | Column 24 | Column 25 | Column 26 | Column 27 |
|:----------------------------------------------------------------------------------|:-----------|:--------------------------------|:-----------|:-------------------------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Three Months Ended December 31, | | Nine Months Ended December 31, | | | | | | | | | | | | | | | | | | | | | | |
| | | 2020 | | 2019 | | 2020 | | 2019 | | | | | | | | | | | | | | | | | | |
| | | (Unaudited) | | (Unaudited) | | | | | | | | | | | | | | | | | | | | | | |
| Sales and other operating revenues | | $ | 672,931 | | | $ | 505,049 | | | $ | 1,365,767 | | | $ | 1,277,885 | | | | | | | | | | | |
| Costs and expenses | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Cost of goods sold | | 533,431 | | | 412,076 | | | 1,103,744 | | | 1,030,233 | | | | | | | | | | | | | | | |
| Selling, general and administrative expenses | | 59,335 | | | 48,858 | | | 161,152 | | | 152,824 | | | | | | | | | | | | | | | |
| Other income | | — | | | — | | | (4,173) | | | — | | | | | | | | | | | | | | | |
| Restructuring and impairment costs | | 19,979 | | | — | | | 19,979 | | | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Operating income | | 60,186 | | | 44,115 | | | 85,065 | | | 94,828 | | | | | | | | | | | | | | | |
| Equity in pretax earnings (loss) of unconsolidated affiliates | | 1,506 | | | (69) | | | 2,089 | | | 2,281 | | | | | | | | | | | | | | | |
| Other non-operating income (expense) | | 30 | | | 633 | | | (8) | | | 1,893 | | | | | | | | | | | | | | | |
| Interest income | | 2 | | | 164 | | | 262 | | | 1,412 | | | | | | | | | | | | | | | |
| Interest expense | | 6,735 | | | 5,197 | | | 19,140 | | | 14,361 | | | | | | | | | | | | | | | |
| Income before income taxes and other items | | 54,989 | | | 39,646 | | | 68,268 | | | 86,053 | | | | | | | | | | | | | | | |
| Income taxes | | 14,548 | | | 10,328 | | | 12,678 | | | 26,093 | | | | | | | | | | | | | | | |
| Net income | | 40,441 | | | 29,318 | | | 55,590 | | | 59,960 | | | | | | | | | | | | | | | |
| Less: net loss (income) attributable to noncontrolling interests in subsidiaries | | (7,168) | | | (3,352) | | | (7,541) | | | (3,845) | | | | | | | | | | | | | | | |
| Net income attributable to Universal Corporation | | $ | 33,273 | | | $ | 25,966 | | | $ | 48,049 | | | $ | 56,115 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Earnings per share: | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | $ | 1.35 | | | $ | 1.04 | | | $ | 1.95 | | | $ | 2.24 | | | | | | | | | | | |
| Diluted | | $ | 1.34 | | | $ | 1.04 | | | $ | 1.94 | | | $ | 2.23 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Weighted average common shares outstanding: | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | 24,677,122 | | | 24,931,711 | | | 24,646,342 | | | 25,058,525 | | | | | | | | | | | | | | | |
| Diluted | | 24,818,918 | | | 25,055,054 | | | 24,764,439 | | | 25,178,517 | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Total comprehensive income, net of income taxes | | $ | 55,681 | | | $ | 40,023 | | | $ | 84,950 | | | $ | 51,479 | | | | | | | | | | | |
| Less: comprehensive (income) loss attributable to noncontrolling interests | | (7,114) | | | (3,491) | | | (7,566) | | | (3,983) | | | | | | | | | | | | | | | |
| Comprehensive income (loss) attributable to Universal Corporation | | $ | 48,567 | | | $ | 36,532 | | | $ | 77,384 | | | $ | 47,496 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Dividends declared per common share | | $ | 0.77 | | | $ | 0.76 | | | $ | 2.31 | | | $ | 2.28 | | | | | | | | | | | |
---
English News:
Genomic Vision Announces the Availability of the Prospectus Relating to the Financing Program Concluded With Winance for a Maximum Amount of 12 Million - BAGNEUX, France--(BUSINESS WIRE)--Regulatory News: Genomic Vision (Paris:GV) (the Company - FR0011799907 - GV), a biotechnology company that develops tools and services dedicated to the analysis and control of changes in the genome, today announces the availability of the prospectus relating to the financing program concluded with Winance in form of convertible notes with equity warrants attached (OCABSA) for a maximum amount of 12 million. The prospectus approved by the Autorit des marchs financiers (AMF) on February 9, 2021 under No. 21-028, consisting of a Securities Note and a Universal Registration Document filed with the AMF under No. R21-002, is available at the Company's registered office (80/84 Rue des Meuniers, 92220 Bagneux), on the Company's website (www.genomicvision.com) and on that of the AMF (www.amf-france.org). It should be noted that on June 15, 2020, the Company announced the signing of a contract with Winance on June 11, 2020 to setting up a financing line by issuing convertible bonds (the OC) into ordinary shares to each of which will be attached a share subscription warrant (the BSA and together with the shares to which they are attached the ABSA and with the OC the OCABSA), for a maximum total amount of 12 million euros, it being specified that neither the OC nor the BSA will be listed. This financing is intended to ensure the Company's continuity beyond May 2021 and to provide financial visibility until 2022 by granting it additional resources to secure and pursue its development and to cover the Company's current and structural expenses. The extraordinary general meeting of the Company which met on October 30, 2020 approved the implementation of this financing and a first tranche of OCABSA for an amount of 0.8 million was already draw down last November. Filing of a prospectus was required as the issuance of one or more additional tranches of OCABSA may lead to the issuance of a number of shares that may exceed 20% of Genomic Vision's share capital over 12 months. *** ABOUT GENOMIC VISION GENOMIC VISION is a biotechnology company developing products and services dedicated to the analysis (structural and functional) of genome modifications as well as to the quality and safety control of these modifications, in particular in genome editing technologies and biomanufacturing processes. Genomic Vision proprietary tools, based on DNA combing technology and artificial intelligence, provide robust quantitative measurements needed to high confidence characterization of DNA alteration in the genome. These tools are mainly used for monitoring DNA replication in cancerous cell, for early cancer detection and the diagnosis of genetic diseases. Based near Paris, in Bagneux, the Company has approximately 30 employees. GENOMIC VISION is a public listed company listed in compartment C of Euronexts regulated market in Paris (Euronext: GV ISIN: FR0011799907). For further information, please visit www.genomicvision.com. *** Member of the CAC Mid & Small and CAC All-Tradable indexes FORWARD LOOKING STATEMENT This press release contains implicitly or explicitly certain forward-looking statements concerning Genomic Vision and its business. Such forward-looking statements are based on assumptions that Genomic Vision considers to be reasonable. However, there can be no assurance that such forward-looking statements will be verified, which statements are subject to numerous risks, including the risks set forth in the Risk Factors section of the universal registration document filed with the AMF on February 9, 2021 under reference number R.21-002, available on the web site of Genomic Vision (www.genomicvision.com) and to the development of economic conditions, financial markets and the markets in which Genomic Vision operates. The forward-looking statements contained in this press release are also subject to risks not yet known to Genomic Vision or not currently considered material by Genomic Vision. The occurrence of all or part of such risks could cause actual results, financial conditions, performance or achievements of Genomic Vision to be materially different from such forward-looking statements. This press release and the information contained herein do not constitute and should not be construed as an offer or an invitation to sell or subscribe, or the solicitation of any order or invitation to purchase or subscribe for Genomic Vision shares in any country. The distribution of this press release in certain countries may be a breach of applicable laws. The persons in possession of this press release must inquire about any local restrictions and comply with these restrictions.
Chinese News:
近日环球烟草公布财报，公告显示该公司2020财年第一财季归属于母公司普通股股东净利润为727.40万美元，同比增长251.06%；营业收入为3.16亿美元，同比上涨6.36%。Universal Corporation是一家领先的烟叶烟草供应商，在5大洲超过30个国家都有业务。
Japanese News:
ユニバーサル・コーポレーション（Universal Corporation）は、2020年12月31日に終了した2021年度第3四半期（2020年10月～12月）の連結決算を発表した。 第3四半期の売上高は6億7,293万1,000米ドルとなり、前年同期（5億504万9,000米ドル）に比べて大幅に増加した。営業利益は6,018万6,000米ドルとなり、前年同期の4,411万5,000米ドルから増加した。純利益は3,327万3,000米ドルで、前年同期の2,596万6,000米ドルを上回った。 また、継続事業からの1株当たり基本利益（EPS）は1.35米ドルとなり、前年同期の1.04米ドルを上回った。同じく継続事業からの1株当たり希薄化後利益（Diluted EPS）も1.34米ドルと、前年同期の1.04米ドルから増加している。 2021年度の9カ月間（2020年4月～12月）の売上高は13億6,576万7,000米ドルとなり、前年同期（12億7,788万5,000米ドル）と比較して増加した。一方、同期間の営業利益は8,506万5,000米ドルで、前年同期の9,482万8,000米ドルを下回った。純利益も前年同期の5,611万5,000米ドルから減少し、4,804万9,000米ドルとなった。 また、9カ月間の1株当たり基本利益（EPS）は前年同期の2.24米ドルから1.95米ドルに、希薄化後1株当たり利益（Diluted EPS）は前年同期の2.23米ドルから1.94米ドルにそれぞれ低下した。 ユニバーサル・コーポレーションはアメリカを拠点とする大手葉タバコサプライヤーで、世界5大陸30カ国以上で事業を展開している。
Spanish News:
Universal Corporation ha anunciado los resultados del tercer trimestre que finalizó el 31 de diciembre de 2020. Para el tercer trimestre, la empresa anunció que las ventas fueron de 672,931 millones de dólares, frente a los 505,049 millones de dólares de hace un año. Los ingresos de explotación fueron de 60,186 millones de dólares, frente a los 44,115 millones de hace un año. Los ingresos netos fueron de 33,273 millones de dólares, frente a los 25,966 millones de dólares de hace un año. El beneficio básico por acción de las operaciones continuas fue de 1,35 dólares, frente a los 1,04 dólares de hace un año. El beneficio diluido por acción de las operaciones continuas fue de 1,34 dólares, frente a los 1,04 dólares de hace un año. En los nueve meses, las ventas fueron de 1.365,767 millones de dólares, frente a los 1.277,885 millones de dólares de hace un año. Los ingresos de explotación fueron de 85,065 millones de dólares, frente a los 94,828 de hace un año. Los ingresos netos fueron de 48,049 millones de dólares, frente a los 56,115 millones de dólares de hace un año. El beneficio básico por acción de las operaciones continuas fue de 1,95 dólares, frente a los 2,24 dólares de hace un año. El beneficio diluido por acción de las operaciones continuas fue de 1,94 dólares, frente a los 2,23 dólares de hace un año.
Greek News:
Κατά το τρίτο οικονομικό τρίμηνο του 2021, η Universal Corporation (UVV) συνέχισε την υλοποίηση της στρατηγικής κατανομής κεφαλαίων της, επιδιώκοντας την ενίσχυση της παρουσίας της πέρα από τον βασικό της κλάδο, δηλαδή αυτόν του καπνού φύλλων. Στο πλαίσιο αυτής της κατανομής, ιδιαίτερη έμφαση δόθηκε στην επέκταση της πλατφόρμας φυτικών συστατικών μέσω στοχευμένων εξαγορών και στρατηγικών συγχωνεύσεων. Συγκεκριμένα, την 1η Οκτωβρίου 2020, η εταιρεία προχώρησε στην εξαγορά της εταιρείας Silva International, Inc. για το ποσό περίπου $ 164 εκατομμυρίων. Η Silva, με δραστηριότητα στον χώρο των αποξηραμένων φυτικών συστατικών, ενσωματώθηκε λειτουργικά με τη θυγατρική FruitSmart, με στόχο τη δημιουργία συνεργειών και την παροχή μιας ενιαίας πλατφόρμας λύσεων σε προϊόντα φρούτων και λαχανικών. Η κίνηση αυτή εντάσσεται στη γενικότερη στρατηγική της UVV για διαφοροποίηση της δραστηριότητάς της, εξερεύνηση μη καπνικών αγορών και ενίσχυση της μακροπρόθεσμης αξίας για τους μετόχους. Παράλληλα, στο ίδιο τρίμηνο, η εταιρεία αποφάσισε να τερματίσει τη δραστηριότητα επεξεργασίας γλυκοπατάτας της θυγατρικής Carolina Innovative Food Ingredients (CIFI). Η απόφαση αυτή ελήφθη λόγω στρατηγικής ασυμβατότητας της δραστηριότητας με τον ευρύτερο επιχειρησιακό σχεδιασμό, καθώς και εξαιτίας των έντονων ανταγωνιστικών πιέσεων στην εν λόγω αγορά.
Question:
What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: The company is focusing on strategic acquisitions in higher-margin plant ingredients business while exiting unprofitable segments. Despite revenue growth, operating income declined from $94.8 million to $85.1 million for nine months, partially due to $20 million in restructuring costs. The strategy involves consolidating operations like integrating Silva with FruitSmart to create synergies.
Financial Statement Evidence: Operating income Q3 2020: $60,186 vs Q3 2019: $44,115; Nine months operating income 2020: $85,065 vs 2019: $94,828; Restructuring and impairment costs: $19,979 in 2020 vs $0 in 2019 |
UVV_20210208 | You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.
Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 |
|:------------------------------------------------------|:-----------|:-------------|:-----------|:-------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | |
| | | December 31, | | December 31, | | March 31, | | | | | | | | | | | | | | |
| | | 2020 | | 2019 | | 2020 | | | | | | | | | | | | | | |
| | | (Unaudited) | | (Unaudited) | | | | | | | | | | | | | | | | |
| ASSETS | | | | | | | | | | | | | | | | | | | | |
| Current assets | | | | | | | | | | | | | | | | | | | | |
| Cash and cash equivalents | | $ | 95,405 | | | $ | 64,734 | | | $ | 107,430 | | | | | | | | | |
| Accounts receivable, net | | 354,676 | | | 271,981 | | | 340,711 | | | | | | | | | | | | |
| Advances to suppliers, net | | 102,795 | | | 120,079 | | | 133,778 | | | | | | | | | | | | |
| Accounts receivable—unconsolidated affiliates | | 6,197 | | | 24,748 | | | 11,483 | | | | | | | | | | | | |
| Inventories—at lower of cost or net realizable value: | | | | | | | | | | | | | | | | | | | | |
| Tobacco | | 814,287 | | | 937,661 | | | 707,298 | | | | | | | | | | | | |
| Other | | 144,333 | | | 84,621 | | | 99,275 | | | | | | | | | | | | |
| Prepaid income taxes | | 18,174 | | | 13,619 | | | 12,144 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Other current assets | | 68,928 | | | 61,450 | | | 67,498 | | | | | | | | | | | | |
| Total current assets | | 1,604,795 | | | 1,578,893 | | | 1,479,617 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Property, plant and equipment | | | | | | | | | | | | | | | | | | | | |
| Land | | 22,499 | | | 22,510 | | | 21,376 | | | | | | | | | | | | |
| Buildings | | 268,377 | | | 255,202 | | | 256,488 | | | | | | | | | | | | |
| Machinery and equipment | | 662,854 | | | 609,976 | | | 634,395 | | | | | | | | | | | | |
| | | 953,730 | | | 887,688 | | | 912,259 | | | | | | | | | | | | |
| Less accumulated depreciation | | (621,928) | | | (592,457) | | | (597,106) | | | | | | | | | | | | |
| | | 331,802 | | | 295,231 | | | 315,153 | | | | | | | | | | | | |
| Other assets | | | | | | | | | | | | | | | | | | | | |
| Operating lease right-of-use assets | | 34,717 | | | 34,230 | | | 39,256 | | | | | | | | | | | | |
| Goodwill and other intangibles, net | | 255,365 | | | 98,042 | | | 144,687 | | | | | | | | | | | | |
| Investments in unconsolidated affiliates | | 85,610 | | | 77,783 | | | 77,543 | | | | | | | | | | | | |
| Deferred income taxes | | 22,281 | | | 16,354 | | | 20,954 | | | | | | | | | | | | |
| Other noncurrent assets | | 54,071 | | | 50,186 | | | 43,711 | | | | | | | | | | | | |
| | | 452,044 | | | 276,595 | | | 326,151 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Total assets | | $ | 2,388,641 | | | $ | 2,150,719 | | | $ | 2,120,921 | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 |
|:------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-----------|:-------------|:-----------|:-------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | |
| | | December 31, | | December 31, | | March 31, | | | | | | | | | | | | | | |
| | | 2020 | | 2019 | | 2020 | | | | | | | | | | | | | | |
| | | (Unaudited) | | (Unaudited) | | | | | | | | | | | | | | | | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | | | | | | | | | | | | | | |
| Current liabilities | | | | | | | | | | | | | | | | | | | | |
| Notes payable and overdrafts | | $ | 129,603 | | | $ | 92,592 | | | $ | 78,033 | | | | | | | | | |
| Accounts payable and accrued expenses | | 156,421 | | | 130,165 | | | 140,202 | | | | | | | | | | | | |
| Accounts payable—unconsolidated affiliates | | 7,416 | | | 7,494 | | | 55 | | | | | | | | | | | | |
| Customer advances and deposits | | 14,498 | | | 8,230 | | | 10,242 | | | | | | | | | | | | |
| Accrued compensation | | 22,744 | | | 21,761 | | | 23,710 | | | | | | | | | | | | |
| Income taxes payable | | 6,650 | | | 1,991 | | | 5,334 | | | | | | | | | | | | |
| Current portion of operating lease liabilities | | 9,014 | | | 8,394 | | | 9,823 | | | | | | | | | | | | |
| Current portion of long-term debt | | — | | | — | | | — | | | | | | | | | | | | |
| Total current liabilities | | 346,346 | | | 270,627 | | | 267,399 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Long-term debt | | 518,047 | | | 368,698 | | | 368,764 | | | | | | | | | | | | |
| Pensions and other postretirement benefits | | 66,764 | | | 55,305 | | | 70,680 | | | | | | | | | | | | |
| Long-term operating lease liabilities | | 22,709 | | | 23,465 | | | 25,893 | | | | | | | | | | | | |
| Other long-term liabilities | | 71,346 | | | 51,185 | | | 69,427 | | | | | | | | | | | | |
| Deferred income taxes | | 46,414 | | | 28,228 | | | 29,474 | | | | | | | | | | | | |
| Total liabilities | | 1,071,626 | | | 797,508 | | | 831,637 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Shareholders’ equity | | | | | | | | | | | | | | | | | | | | |
| Universal Corporation: | | | | | | | | | | | | | | | | | | | | |
| Preferred stock: | | | | | | | | | | | | | | | | | | | | |
| Series A Junior Participating Preferred Stock, no par value,500,000shares authorized,noneissued or outstanding | | — | | | — | | | — | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Common stock, no par value,100,000,000shares authorized24,514,867shares issued and outstanding at December 31, 2020 (24,693,557at December 31, 2019 and24,421,835at March 31, 2020) | | 325,350 | | | 324,388 | | | 321,502 | | | | | | | | | | | | |
| Retained earnings | | 1,067,437 | | | 1,089,718 | | | 1,076,760 | | | | | | | | | | | | |
| Accumulated other comprehensive loss | | (122,262) | | | (104,310) | | | (151,597) | | | | | | | | | | | | |
| Total Universal Corporation shareholders' equity | | 1,270,525 | | | 1,309,796 | | | 1,246,665 | | | | | | | | | | | | |
| Noncontrolling interests in subsidiaries | | 46,490 | | | 43,415 | | | 42,619 | | | | | | | | | | | | |
| Total shareholders' equity | | 1,317,015 | | | 1,353,211 | | | 1,289,284 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Total liabilities and shareholders' equity | | $ | 2,388,641 | | | $ | 2,150,719 | | | $ | 2,120,921 | | | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 |
|:--------------------------------------------------------------------------------------|:-----------|:-------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | |
| | | Nine Months Ended December 31, | | | | | | | | | | | | |
| | | 2020 | | 2019 | | | | | | | | | | |
| | | (Unaudited) | | | | | | | | | | | | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | | | | | | | | | | | | | | |
| Net income | | $ | 55,590 | | | $ | 59,960 | | | | | | | |
| Adjustments to reconcile net income to net cash used by operating activities: | | | | | | | | | | | | | | |
| Depreciation and amortization | | 32,626 | | | 27,500 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Net provision for losses (recoveries) on advances and guaranteed loans to suppliers | | 2,753 | | | 93 | | | | | | | | | |
| Foreign currency remeasurement (gain) loss, net | | (8,823) | | | (2,179) | | | | | | | | | |
| Foreign currency exchange contracts | | (7,723) | | | (698) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Restructuring and impairment costs | | 19,979 | | | — | | | | | | | | | |
| Restructuring payments | | (5,179) | | | (444) | | | | | | | | | |
| Change in estimated fair value of contingent consideration for FruitSmart acquisition | | (4,173) | | | — | | | | | | | | | |
| Other, net | | 5,260 | | | 3,412 | | | | | | | | | |
| Changes in operating assets and liabilities, net | | (51,687) | | | (260,542) | | | | | | | | | |
| Net cash provided (used) by operating activities | | 38,623 | | | (172,898) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | | | | | | | | |
| Purchase of property, plant and equipment | | (33,794) | | | (21,692) | | | | | | | | | |
| Purchase of business, net of cash held by the business | | (161,095) | | | — | | | | | | | | | |
| Proceeds from sale of property, plant and equipment | | 4,086 | | | 2,946 | | | | | | | | | |
| Other | | (800) | | | 496 | | | | | | | | | |
| Net cash used by investing activities | | (191,603) | | | (18,250) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | | | | | | | |
| Issuance of short-term debt, net | | 57,207 | | | 41,201 | | | | | | | | | |
| Issuance of long-term debt | | 150,000 | | | — | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Dividends paid to noncontrolling interests | | (3,695) | | | (3,359) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Repurchase of common stock | | — | | | (20,125) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Dividends paid on common stock | | (56,301) | | | (56,601) | | | | | | | | | |
| Other | | (1,949) | | | (2,883) | | | | | | | | | |
| Net cash provided (used) by financing activities | | 145,262 | | | (41,767) | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Effect of exchange rate changes on cash | | 1,693 | | | 93 | | | | | | | | | |
| Net decrease in cash, restricted cash and cash equivalents | | (6,025) | | | (232,822) | | | | | | | | | |
| Cash, restricted cash and cash equivalents at beginning of year | | 107,430 | | | 297,556 | | | | | | | | | |
| | | | | | | | | | | | | | | |
| Cash, restricted cash and cash equivalents at end of period | | $ | 101,405 | | | $ | 64,734 | | | | | | | |
| | | | | | | | | | | | | | | |
| Supplemental Information: | | | | | | | | | | | | | | |
| Cash and cash equivalents | | $ | 95,405 | | | $ | 64,734 | | | | | | | |
| Restricted cash (Other noncurrent assets) | | 6,000 | | | — | | | | | | | | | |
| Total cash, restricted cash and cash equivalents | | $ | 101,405 | | | $ | 64,734 | | | | | | | |
---
| Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 | Column 7 | Column 8 | Column 9 | Column 10 | Column 11 | Column 12 | Column 13 | Column 14 | Column 15 | Column 16 | Column 17 | Column 18 | Column 19 | Column 20 | Column 21 | Column 22 | Column 23 | Column 24 | Column 25 | Column 26 | Column 27 |
|:----------------------------------------------------------------------------------|:-----------|:--------------------------------|:-----------|:-------------------------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Three Months Ended December 31, | | Nine Months Ended December 31, | | | | | | | | | | | | | | | | | | | | | | |
| | | 2020 | | 2019 | | 2020 | | 2019 | | | | | | | | | | | | | | | | | | |
| | | (Unaudited) | | (Unaudited) | | | | | | | | | | | | | | | | | | | | | | |
| Sales and other operating revenues | | $ | 672,931 | | | $ | 505,049 | | | $ | 1,365,767 | | | $ | 1,277,885 | | | | | | | | | | | |
| Costs and expenses | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Cost of goods sold | | 533,431 | | | 412,076 | | | 1,103,744 | | | 1,030,233 | | | | | | | | | | | | | | | |
| Selling, general and administrative expenses | | 59,335 | | | 48,858 | | | 161,152 | | | 152,824 | | | | | | | | | | | | | | | |
| Other income | | — | | | — | | | (4,173) | | | — | | | | | | | | | | | | | | | |
| Restructuring and impairment costs | | 19,979 | | | — | | | 19,979 | | | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Operating income | | 60,186 | | | 44,115 | | | 85,065 | | | 94,828 | | | | | | | | | | | | | | | |
| Equity in pretax earnings (loss) of unconsolidated affiliates | | 1,506 | | | (69) | | | 2,089 | | | 2,281 | | | | | | | | | | | | | | | |
| Other non-operating income (expense) | | 30 | | | 633 | | | (8) | | | 1,893 | | | | | | | | | | | | | | | |
| Interest income | | 2 | | | 164 | | | 262 | | | 1,412 | | | | | | | | | | | | | | | |
| Interest expense | | 6,735 | | | 5,197 | | | 19,140 | | | 14,361 | | | | | | | | | | | | | | | |
| Income before income taxes and other items | | 54,989 | | | 39,646 | | | 68,268 | | | 86,053 | | | | | | | | | | | | | | | |
| Income taxes | | 14,548 | | | 10,328 | | | 12,678 | | | 26,093 | | | | | | | | | | | | | | | |
| Net income | | 40,441 | | | 29,318 | | | 55,590 | | | 59,960 | | | | | | | | | | | | | | | |
| Less: net loss (income) attributable to noncontrolling interests in subsidiaries | | (7,168) | | | (3,352) | | | (7,541) | | | (3,845) | | | | | | | | | | | | | | | |
| Net income attributable to Universal Corporation | | $ | 33,273 | | | $ | 25,966 | | | $ | 48,049 | | | $ | 56,115 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Earnings per share: | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | $ | 1.35 | | | $ | 1.04 | | | $ | 1.95 | | | $ | 2.24 | | | | | | | | | | | |
| Diluted | | $ | 1.34 | | | $ | 1.04 | | | $ | 1.94 | | | $ | 2.23 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Weighted average common shares outstanding: | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Basic | | 24,677,122 | | | 24,931,711 | | | 24,646,342 | | | 25,058,525 | | | | | | | | | | | | | | | |
| Diluted | | 24,818,918 | | | 25,055,054 | | | 24,764,439 | | | 25,178,517 | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Total comprehensive income, net of income taxes | | $ | 55,681 | | | $ | 40,023 | | | $ | 84,950 | | | $ | 51,479 | | | | | | | | | | | |
| Less: comprehensive (income) loss attributable to noncontrolling interests | | (7,114) | | | (3,491) | | | (7,566) | | | (3,983) | | | | | | | | | | | | | | | |
| Comprehensive income (loss) attributable to Universal Corporation | | $ | 48,567 | | | $ | 36,532 | | | $ | 77,384 | | | $ | 47,496 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Dividends declared per common share | | $ | 0.77 | | | $ | 0.76 | | | $ | 2.31 | | | $ | 2.28 | | | | | | | | | | | |
---
English News:
Genomic Vision Announces the Availability of the Prospectus Relating to the Financing Program Concluded With Winance for a Maximum Amount of 12 Million - BAGNEUX, France--(BUSINESS WIRE)--Regulatory News: Genomic Vision (Paris:GV) (the Company - FR0011799907 - GV), a biotechnology company that develops tools and services dedicated to the analysis and control of changes in the genome, today announces the availability of the prospectus relating to the financing program concluded with Winance in form of convertible notes with equity warrants attached (OCABSA) for a maximum amount of 12 million. The prospectus approved by the Autorit des marchs financiers (AMF) on February 9, 2021 under No. 21-028, consisting of a Securities Note and a Universal Registration Document filed with the AMF under No. R21-002, is available at the Company's registered office (80/84 Rue des Meuniers, 92220 Bagneux), on the Company's website (www.genomicvision.com) and on that of the AMF (www.amf-france.org). It should be noted that on June 15, 2020, the Company announced the signing of a contract with Winance on June 11, 2020 to setting up a financing line by issuing convertible bonds (the OC) into ordinary shares to each of which will be attached a share subscription warrant (the BSA and together with the shares to which they are attached the ABSA and with the OC the OCABSA), for a maximum total amount of 12 million euros, it being specified that neither the OC nor the BSA will be listed. This financing is intended to ensure the Company's continuity beyond May 2021 and to provide financial visibility until 2022 by granting it additional resources to secure and pursue its development and to cover the Company's current and structural expenses. The extraordinary general meeting of the Company which met on October 30, 2020 approved the implementation of this financing and a first tranche of OCABSA for an amount of 0.8 million was already draw down last November. Filing of a prospectus was required as the issuance of one or more additional tranches of OCABSA may lead to the issuance of a number of shares that may exceed 20% of Genomic Vision's share capital over 12 months. *** ABOUT GENOMIC VISION GENOMIC VISION is a biotechnology company developing products and services dedicated to the analysis (structural and functional) of genome modifications as well as to the quality and safety control of these modifications, in particular in genome editing technologies and biomanufacturing processes. Genomic Vision proprietary tools, based on DNA combing technology and artificial intelligence, provide robust quantitative measurements needed to high confidence characterization of DNA alteration in the genome. These tools are mainly used for monitoring DNA replication in cancerous cell, for early cancer detection and the diagnosis of genetic diseases. Based near Paris, in Bagneux, the Company has approximately 30 employees. GENOMIC VISION is a public listed company listed in compartment C of Euronexts regulated market in Paris (Euronext: GV ISIN: FR0011799907). For further information, please visit www.genomicvision.com. *** Member of the CAC Mid & Small and CAC All-Tradable indexes FORWARD LOOKING STATEMENT This press release contains implicitly or explicitly certain forward-looking statements concerning Genomic Vision and its business. Such forward-looking statements are based on assumptions that Genomic Vision considers to be reasonable. However, there can be no assurance that such forward-looking statements will be verified, which statements are subject to numerous risks, including the risks set forth in the Risk Factors section of the universal registration document filed with the AMF on February 9, 2021 under reference number R.21-002, available on the web site of Genomic Vision (www.genomicvision.com) and to the development of economic conditions, financial markets and the markets in which Genomic Vision operates. The forward-looking statements contained in this press release are also subject to risks not yet known to Genomic Vision or not currently considered material by Genomic Vision. The occurrence of all or part of such risks could cause actual results, financial conditions, performance or achievements of Genomic Vision to be materially different from such forward-looking statements. This press release and the information contained herein do not constitute and should not be construed as an offer or an invitation to sell or subscribe, or the solicitation of any order or invitation to purchase or subscribe for Genomic Vision shares in any country. The distribution of this press release in certain countries may be a breach of applicable laws. The persons in possession of this press release must inquire about any local restrictions and comply with these restrictions.
Chinese News:
近日环球烟草公布财报，公告显示该公司2020财年第一财季归属于母公司普通股股东净利润为727.40万美元，同比增长251.06%；营业收入为3.16亿美元，同比上涨6.36%。Universal Corporation是一家领先的烟叶烟草供应商，在5大洲超过30个国家都有业务。
Japanese News:
ユニバーサル・コーポレーション（Universal Corporation）は、2020年12月31日に終了した2021年度第3四半期（2020年10月～12月）の連結決算を発表した。 第3四半期の売上高は6億7,293万1,000米ドルとなり、前年同期（5億504万9,000米ドル）に比べて大幅に増加した。営業利益は6,018万6,000米ドルとなり、前年同期の4,411万5,000米ドルから増加した。純利益は3,327万3,000米ドルで、前年同期の2,596万6,000米ドルを上回った。 また、継続事業からの1株当たり基本利益（EPS）は1.35米ドルとなり、前年同期の1.04米ドルを上回った。同じく継続事業からの1株当たり希薄化後利益（Diluted EPS）も1.34米ドルと、前年同期の1.04米ドルから増加している。 2021年度の9カ月間（2020年4月～12月）の売上高は13億6,576万7,000米ドルとなり、前年同期（12億7,788万5,000米ドル）と比較して増加した。一方、同期間の営業利益は8,506万5,000米ドルで、前年同期の9,482万8,000米ドルを下回った。純利益も前年同期の5,611万5,000米ドルから減少し、4,804万9,000米ドルとなった。 また、9カ月間の1株当たり基本利益（EPS）は前年同期の2.24米ドルから1.95米ドルに、希薄化後1株当たり利益（Diluted EPS）は前年同期の2.23米ドルから1.94米ドルにそれぞれ低下した。 ユニバーサル・コーポレーションはアメリカを拠点とする大手葉タバコサプライヤーで、世界5大陸30カ国以上で事業を展開している。
Spanish News:
Universal Corporation ha anunciado los resultados del tercer trimestre que finalizó el 31 de diciembre de 2020. Para el tercer trimestre, la empresa anunció que las ventas fueron de 672,931 millones de dólares, frente a los 505,049 millones de dólares de hace un año. Los ingresos de explotación fueron de 60,186 millones de dólares, frente a los 44,115 millones de hace un año. Los ingresos netos fueron de 33,273 millones de dólares, frente a los 25,966 millones de dólares de hace un año. El beneficio básico por acción de las operaciones continuas fue de 1,35 dólares, frente a los 1,04 dólares de hace un año. El beneficio diluido por acción de las operaciones continuas fue de 1,34 dólares, frente a los 1,04 dólares de hace un año. En los nueve meses, las ventas fueron de 1.365,767 millones de dólares, frente a los 1.277,885 millones de dólares de hace un año. Los ingresos de explotación fueron de 85,065 millones de dólares, frente a los 94,828 de hace un año. Los ingresos netos fueron de 48,049 millones de dólares, frente a los 56,115 millones de dólares de hace un año. El beneficio básico por acción de las operaciones continuas fue de 1,95 dólares, frente a los 2,24 dólares de hace un año. El beneficio diluido por acción de las operaciones continuas fue de 1,94 dólares, frente a los 2,23 dólares de hace un año.
Greek News:
Κατά το τρίτο οικονομικό τρίμηνο του 2021, η Universal Corporation (UVV) συνέχισε την υλοποίηση της στρατηγικής κατανομής κεφαλαίων της, επιδιώκοντας την ενίσχυση της παρουσίας της πέρα από τον βασικό της κλάδο, δηλαδή αυτόν του καπνού φύλλων. Στο πλαίσιο αυτής της κατανομής, ιδιαίτερη έμφαση δόθηκε στην επέκταση της πλατφόρμας φυτικών συστατικών μέσω στοχευμένων εξαγορών και στρατηγικών συγχωνεύσεων. Συγκεκριμένα, την 1η Οκτωβρίου 2020, η εταιρεία προχώρησε στην εξαγορά της εταιρείας Silva International, Inc. για το ποσό περίπου $ 164 εκατομμυρίων. Η Silva, με δραστηριότητα στον χώρο των αποξηραμένων φυτικών συστατικών, ενσωματώθηκε λειτουργικά με τη θυγατρική FruitSmart, με στόχο τη δημιουργία συνεργειών και την παροχή μιας ενιαίας πλατφόρμας λύσεων σε προϊόντα φρούτων και λαχανικών. Η κίνηση αυτή εντάσσεται στη γενικότερη στρατηγική της UVV για διαφοροποίηση της δραστηριότητάς της, εξερεύνηση μη καπνικών αγορών και ενίσχυση της μακροπρόθεσμης αξίας για τους μετόχους. Παράλληλα, στο ίδιο τρίμηνο, η εταιρεία αποφάσισε να τερματίσει τη δραστηριότητα επεξεργασίας γλυκοπατάτας της θυγατρικής Carolina Innovative Food Ingredients (CIFI). Η απόφαση αυτή ελήφθη λόγω στρατηγικής ασυμβατότητας της δραστηριότητας με τον ευρύτερο επιχειρησιακό σχεδιασμό, καθώς και εξαιτίας των έντονων ανταγωνιστικών πιέσεων στην εν λόγω αγορά.
Question:
What are the company's capital expenditures and their strategic significance from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.
Answer: | What are the company's capital expenditures and their strategic significance from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any. | Answer: Capital expenditures increased to $33.8 million from $21.7 million, reflecting investments in strategic initiatives. The major strategic capital allocation was the $161.1 million acquisition of Silva International to expand the plant ingredients platform. The company also terminated the CIFI sweet potato processing operation as it didn't align with their strategic direction.
Financial Statement Evidence: Purchase of property, plant and equipment: $(33,794) vs $(21,692) prior year; Purchase of business, net of cash held by the business: $(161,095); Total assets increased to $2,388,641 from $2,150,719 prior year |
Subsets and Splits
No community queries yet
The top public SQL queries from the community will appear here once available.