Power distribution company $CNP reported a net loss of $2MM or a loss of $0.01 per share for 2Q16 compared with net income of $77MM or $0.18 per share for 2Q15, hurt by a ZENS-related pretax loss of $117MM. Total revenues grew to $1.57Bil from last year.
$MCD expects the food at home deflation in 2017 to not be as
favorable as it was in 2016. The Informal Eating Out industry is projected to
be relatively muted in 2017. If grocery store prices continue to rise, the
company views this as a positive for some of its traffic.
$PEG's subsidiary PSEG Solar Source said it has acquired two North Carolina solar facilities from BayWa r.e., representing a total investment of $74.6MM. The PSEG Cork Oak Solar Energy Center and the PSEG Sunflower Solar Energy Center are under construction and scheduled to begin operation later this year.
In the International Lead markets, as part of refranchising, $MCD
is selling lower volume restaurants with potentially lower margins. In the near
term, this slightly impacts the franchise margin percent. The margins were also
pressured by lease costs. $MCD said positive comparable sales will help drive
By mid-2017, $MCD expects to refranchise over 3,500 restaurants
towards its goal of refranchising 4,000 by the end of 2018. The China/Hong Kong
transaction, which is expected to close mid-2017, is the most significant
transaction of the company’s refranchising efforts resulting in the sale of
more than 1,750 company-owned stores.
In the Foundational markets, $MCD saw positive comparable sales
of 11.1% for 4Q16 and 10% for 2016 with strong performance in Japan and certain
markets in Latin America, throughout 2016, as well as solid results across the
segment’s remaining geographic regions.