Reliance Worldwide faces headwinds in FY24 amid challenging market conditions

SYDNEY, AUSTRALIA: Reliance Worldwide Corporation (RWC), a global leader in plumbing and heating products, has released its guidance for the financial year 2024 (FY24), indicating a decline in revenues and operating margins due to lower demand and cost pressures. RWC said that its exposure to the repair and maintenance sector, which is less cyclical than…

Aperam reports lower earnings and shipments in 2023 amid market crisis

AMSTERDAM: Aperam, a leading global stainless steel producer, announced its results for the full year and the fourth quarter of 2023, showing a decline in earnings and shipments due to the challenging market conditions. The company reported an adjusted EBITDA of EUR 304 million in 2023, compared to EUR 1,129 million in 2022, a decrease…

AM Best maintains U.S. commercial lines insurance market outlook at stable

NEW YORK: AM Best has maintained a market segment outlook of stable on the U.S. commercial lines industry for 2020, citing factors such as improved market conditions and solid levels of risk-adjusted capitalization that have helped insurers weather short-term profitability challenges. A new Best’s Market Segment Report, titled, “Market Segment Outlook: U.S. Commercial Lines,” notes…