Major stocks across industrials, consumer staples, and materials sectors posted varied performances as investors reacted to preliminary earnings signals and macroeconomic cues. Key players include APD, CCEP, CL, PSA, RIO, and OTIS.
- APD reported 7% YoY segment profit growth, driven by industrial gas demand in Asia.
- CCEP saw 5.6% revenue growth but margin contraction to 39.4% due to input inflation.
- CL achieved 4.7% global sales growth, supported by emerging market strength.
- PSA posted 15% operating profit growth and launched a $120M share buyback.
- RIO’s Q3 profit hit $1.2B, but output issues in Australia led to downward guidance.
- OTIS order intake rose 10%, with upgraded full-year revenue outlook.
Shares of Air Products and Chemicals (APD) edged up 1.3% following indications of stronger-than-expected demand in industrial gas markets, particularly in Asia. The company reported a 7% year-on-year increase in third-quarter segment profits, driven by higher output and pricing power in specialty gases. Coca-Cola Europacific Partners (CCEP) declined 2.1% despite a 5.6% rise in underlying revenue, as investors focused on margin pressures from inflationary input costs and a weaker Euro. The company’s adjusted EBITDA margin contracted to 39.4%, below analyst expectations. Colgate-Palmolive (CL) gained 1.8% after delivering fourth-quarter sales growth of 4.7% globally, with double-digit gains in emerging markets. The company maintained its full-year guidance, citing resilient consumer demand and successful product innovation. Property Services Group (PSA) rose 3.2% on stronger-than-anticipated Q3 earnings, with a 15% jump in operating profit and a 22% increase in new contract wins across the UK and continental Europe. The company also announced a $120 million share buyback program. Rio Tinto (RIO) fell 1.6% despite a $1.2 billion profit in the third quarter, as investors reacted to reduced iron ore output forecasts from its Australian operations. The company cited severe weather disruptions and delayed equipment deliveries as key factors. Otis International (OTIS) advanced 2.4% on the back of a 10% year-on-year increase in elevator and escalator order intake, fueled by strong demand in Asia-Pacific and North America. The company revised its full-year revenue outlook upward by 1.5 percentage points.