Citigroup Inc
Change company Symbol lookup
Select an option...
C Citigroup Inc
AMTI Applied Molecular Transport Inc.
XELB Xcel Brands Inc
WULF Terawulf Inc
MCHP Microchip Technology Inc
BAC Bank of America Corp
GFX^ Golden Falcon Acquisition Corp
PBR Petroleo Brasileiro SA Petrobras
ZM Zoom Video Communications Inc
PERF Perfect Corp
Go

Financials : Banks | Large Cap Value
Company profile

Citigroup Inc. is a diversified financial services holding company. The Company provides a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management. Its operating business segments include Institutional Clients Group (ICG), Personal Banking and Wealth Management (PBWM), Legacy Franchises and Corporate/Other. ICG segment consists of services, markets, and banking that provides corporate, institutional, and public sector clients with a range of wholesale banking products and services. The Company’s PBWM segment consists of United States (US) personal banking and global wealth management, providing traditional banking services and credit cards to retail and small business customers in the U.S. Its Legacy Franchises segment includes Asia consumer banking, Mexico consumer banking/Mexico small business and middle-market banking (SBMM) and legacy holdings assets.

Closing Price
$51.13
Day's Change
0.27 (0.53%)
Bid
--
Ask
--
B/A Size
--
Day's High
51.76
Day's Low
50.59
Volume
(Light)
Volume:
14,360,969

10-day average volume:
19,606,023
14,360,969

Dow adjusted profit falls 60% but tops expectations, stock slips

6:14 am ET October 20, 2022 (MarketWatch)
Print

Shares of Dow Inc. slipped 0.6% in premarket trading Thursday, after the specialty chemicals company reported third-quarter profit and sales that fell from a year ago, as higher energy costs hurt margins, but still beat expectations. The company said it has outlined plans to cut costs by $1 billion in 2023 as the macroeconomic environment remains "dynamic." Net income dropped to $760 million, or $1.02 a share, from $1.71 billion, or $2.23 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $1.11 was down 60% from a year ago but topped the FactSet consensus of $1.08. Sales declined 4.9% to $14.12 billion, but was well above the FactSet consensus of $13.06 billion, with all business segments beating forecasts. While sales fell, cost of sales increased 6.6% to $12.38 billion, as gross margin contracted to 12.3% from 21.7%. "Underlying demand remains resilient in the U.S., while high energy and feedstock costs are driving record inflation and impacting demand in the Eurozone, and ongoing lockdowns in China continue to pressure both consumer spending and infrastructure investments," said Chief Executive Jim Fitterling. The stock has dropped 14.1% over the past three months through Wednesday, while the Dow Jones Industrial Average has lost 4.6%.

-Tomi Kilgore

	

(END) Dow Jones Newswires

October 20, 2022 06:14 ET (10:14 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

Earnings Calendar and Events Data provided by |Terms of Use| © 2023 Wall Street Horizon, Inc.

Market data accompanied by is delayed by at least 15 minutes for NASDAQ, NYSE MKT, NYSE, and options. Duration of the delay for other exchanges varies.
Market data and information provided by Morningstar.

Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses.
Please read Characteristics and Risks of Standard Options before investing in options.

Information and news provided by ,, , Computrade Systems, Inc., ,, and

Copyright © 2023. All rights reserved.