Origin Bancorp profits fall
Ruston, Louisiana-based Origin Bancorp, which recently acquired Quitman-based BTH Bank, reported net income of $16.2 million, or 57 cents per diluted share, for the quarter ended Sept. 9. 30 Net income for the quarter ended September 30 was $27 million, or $1.14 per diluted share, compared to $21.3 million, or 90 cents per diluted share, for the quarter ended June 30. March 30, 2021.
Drake Mills, Chairman, President and Chief Executive Officer of Origin Bancorp, Inc., said: “This was an important and exciting quarter for Origin as we demonstrated strong core profitability and completed our partnership with BT Holdings. Merged.” Now, Origin has 20 corridors throughout I-East Texas, and adds impressive depth in Dallas and Fort Worth. “
EnPro Industries declares quarterly dividend
EnPro Industries, which owns Stemco in Longview, declared a regular quarterly dividend of 28 cents per share.
Dividends will be paid in December. Shareholders of record as of November 14, 30.
Eastman reports lower revenue and earnings
Eastman Chemical, which has a plant in Longview, reported lower sales and earnings in the third quarter compared with a year ago.
Sales in the third quarter of this year were approximately $2.71 billion, compared with $2.72 billion in the same period last year.
EBIT was $324 million, or $2.46 per share, down from $370 million, or $2.57 per share, in 2021.
“Our team has managed exceptionally well in a challenging environment, including driving portfolio improvement through innovative products and demonstrating superior business value in our pricing,” said Mark Costa, Chairman and Chief Executive Officer. Remains focused on implementing substantial price increases to offset higher raw material, energy, distribution and other costs, which were at higher levels during inflation than at any other time in the third quarter.
“Our focus for the remainder of the year is on generating strong operating cash flow and driving milestones for our key growth initiatives. We are delighted to have reached a definitive agreement with PepsiCo for our planned third molecular recycling facility, a testament to the Our leadership creates significant value in the circular economy.”
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