R.R. Donnelley & Sons Co.’s second-quarter profit more than tripled, beating expectations, following prior-year charges as revenue increased more than expected. Get the full story »
Filed under: Earnings
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Toyota posts $2.2B profit despite recalls
Toyota reported a quarterly profit of $2.2 billion, reversing from red ink a year earlier as the world’s top automaker benefited from a global sales recovery that offset lingering doubts about the safety of its cars.
The company, which makes the Camry sedan and Prius hybrid, raised its full year earnings forecast Wednesday, and said it now expects to sell 7.38 million vehicles worldwide for the year through March 2011, up from 7.24 million the previous year. Previously it forecast sales of 7.29 million vehicles.
ADM profit tops Street on better margins
Archer Daniels Midland Co., a major corn and soybean processor and ethanol maker, said Tuesday its fourth-quarter net income surged even as sales slipped. The company said the profit boost came mainly from higher volumes and margins. Ethanol profits increased in the United States, as increased demand for soybean products in South America and Europe offset declines in North America.
Unitrin second-quarter results miss estimates
From The Wall Street Journal | Unitrin Inc. reported second-quarter results that missed analysts’ estimates as the financial-services company — which provides property and casualty insurance, life insurance and automobile financing — was hurt by unfavorable catastrophe and non-catastrophe weather.
OfficeMax stocks off 12% on 2Q sales, outlook
Office Max Inc.’s stock dropped 12 percent in morning trading following news that the company was expecting lower-than-forecast sales for the third quarter.
The company said this morning in reporting weaker than expected quarterly sales, the economy was recovering at a slower rate than expected and expects to face “headwinds” in the second half of the year due to continued high unemployment and other economic conditions. Get the full story »
Nicor profit up 5.7% despite declining demand
Nicor Inc.’s second-quarter earnings rose 5.7 percent as the natural-gas company continued to see strong results at its distribution business and benefits from prior cost cutting, though demand continued to decline. Still, results beat analysts’ expectations. Get the full story »
MillerCoors profit up 28% as sales declines ease
MillerCoors says its second-quarter net income rose 28 percent as it benefited from cost-cutting and a smaller decline in the amount of beer sold.
The U.S. brewer of Molson Coors and SABMiller brands says revenue edged down less than 1 percent to $2.13 billion. The company’s sales to retailers fell 2.4 percent. The declined eased from the first quarter, when the figure fell 4 percent.
NiSource swings to 2Q profit
NiSource Inc. swung to a bigger-than-expected second-quarter profit amid higher volume, but the top line slid on a tumble in non-operational revenue. NiSource posted a profit of $28.1 million, or 10 cents a share, compared with a year-earlier loss of $4.8 million, or a penny a share. Revenue slid 7.7 percent to $1.17 billion as so-called “other” revenue tumbled 60 percent. Get the full story »
Loews, CNA earnings up on investment gains
Loews Corp posted a better-than-expected 8 percent rise in quarterly net profit, as the hotels and energy conglomerate recorded a gain on investments compared to significant investment losses a year earlier.
Loews, run by the billionaire Tisch family, posted investment gains of $1 million in the second quarter. A year earlier, Loews lost $178 million on investments. Get the full story »
Federal Signal’s second quarter trails Street view
Security systems maker Federal Signal Corp posted quarterly results that missed Wall Street estimates, hurt by a drop in sales at its Fire Rescue segment, and said its near-term expectations have been tempered by economic conditions in Europe.
For the second quarter, the company reported a net loss of $0.4 million, or 1 cent a share, compared with $4.9 million, or 10 cents a share, a year ago. Get the full story »
Chevron continues strong results from big oil
Chevron Corp., the second-largest U.S. oil company, reported a three-fold jump in quarterly profit on rising oil output, higher energy prices and buoyant margins at its refineries, topping Wall Street forecasts.
The results follow the strong earnings reports from the world’s largest oil companies, including ExxonMobil Corp. and Royal Dutch Shell Plc Thursday. Get the full story »
Aon 2Q profit up on insurance, consulting strength
Aon Corp.’s second-quarter earnings rose 2.7 percent as its insurance brokerage and consulting units each saw higher profit amid rising margins.
The insurance broker has seen commissions and fee revenue rise recently, though its risk and insurance-brokerage services — its biggest unit — saw its profit decline amid higher expenses. Price competition has weighed on the industry’s profits as insurers price policies low enough to attract customers less worried about risk. Get the full story »
Merck earnings take 52% hit in 2Q
Merck & Co.’s second-quarter earnings dropped 52 percnet on acquisition and other charges as sales of its key drugs weren’t as strong as in recent quarters.
The drug giant also narrowed its 2010 earnings forecast while trimming the top end of its sales view for the year. Get the full story »
Stronger margins lift Newell Rubbermaid 23%
Newell Rubbermaid Inc.’s second-quarter earnings rose 23 percent as the household-goods company recorded stronger margins and a lower tax rate.
However, benefits of strong international demand were offset by a shift in buying patterns to the quarter before an information-technology change. Get the full story »
Recall, weak sales hit Kellogg’s in 2Q
Kellogg Co. reported a lower-than-expected quarterly profit Thursday and cut its full-year forecast, sending its shares down nearly 7 percent, as a big cereal recall and weak sales and pricing took a toll.
The world’s largest cereal maker also said results were pressured by lower Eggo waffle sales, retailers clearing out inventory, promotions from a rival and currency fluctuations. Get the full story »
