BP reported billions in profit in 2022, which they used to fund $10 billion in stock buybacks with more planned BP reported profits of $10.8 billion in the fourth quarter of 2022 alone. “Murray Auchincloss – CFO & Director: Turning to results. In the fourth quarter, we reported a profit of $10.8 billion, allowing for […]| End Corporate Profiteering
Discover boasted 2022 was one of their best years ever, with billions shoveled back to their investors Discover’s CEO boasted 2022 was the “second strongest year for earnings in our company’s history.” “Roger Hochschild, CEO: I’m very pleased to say that 2022 was the second strongest year for earnings in our company’s history. We reported […]| End Corporate Profiteering
Mid America Apartments boasted of soaring rents, citing the unaffordability of single family homes Mid America Apartments reported double digits rent increases on its properties and predicted further large increases in 2023. “Tim Argo – Executive VP, Chief Strategy and Analysis Officer: Thank you, Eric and good morning everyone. Same-store performance for the quarter was […]| End Corporate Profiteering
UDR said it was passing on any inflation costs to residents and emphasized it it was aggressively raising rents UDR’s CEO: “. We like most every business are feeling the impact of inflation across our expense structure. Thus far, we have been able to pass these costs on to our residents in relatively short order”“Tom […]| End Corporate Profiteering
AvalonBay executives crowed to analysts about how much their were increasing rent AvalonBay reported a nearly 10% increase in their lease rental rates. “Sean Breslin – COO: Moving to slide 7. Our strong Q3 revenue growth of 11.8% was primarily driven by higher lease rates, which increased 9.5% year-over-year, the reduced impact of concessions, which […]| End Corporate Profiteering
Equity Residential’s CEO said the company was benefitting from low supply, high prices, and rising rates Equity Residential’s CEO described low supply, high prices, and rising mortgage rates as “positive factors for our business.” “Mark Parrell – President and Chief Executive Officer: In addition, other housing alternatives remain expensive and in low supply. Though they […]| End Corporate Profiteering