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DAILY EARNINGS

3M, Du Pont, P&G Net Jump; Eli Lilly, Reuters Net Fall


Author: Mukesh Buch
ticker.com
Last Update: 12:06 PM ET April 26 2016

12:00 PM New York 3M first-quarter net soared 7% to $1.3 billion. Du Pont first-quarter net soared 19% to $1.2 billion. Eli Lilly first-quarter net plummeted 17% to $440 million. P&G third-quarter net soared 28% to $2.75 billion. Thomson Reuters first-quarter net plunged 14.1% to $262 million.

Tollbooth Index rose 12.61 to 10,732.51.

Earnings Review

3M Company (MMM), the industrial conglomerates reported sales in the first-quarter ending in March dropped 2.2% from a year ago to $7.41 billion.

Net income in the quarter soared 6.7% to $1.28 billion or $2.05 per diluted share compared to $1.20 billion or $1.85 per share from the same quarter last year.

In the full-year 2016, 3M maintained estimated earnings per share in the range of $8.10 to $8.45.

BP Plc (BP), the U.K.-based oil and gas producer said total revenues in the first-quarter ending in March plunged 30.3% from a year ago to $39.17 billion.

Net in the quarter swung to a loss of $558 million or $3.16 per diluted share compared to $2.65 billion or $14.21 per share from the same quarter last year.

DTE Energy Co (DTE), the diversified energy company sated total revenues in the first-quarter ending in March declined 13.8% from a year ago to $2.57 billion.

Net income in the quarter dropped 9.5% to $247 million or $1.37 per diluted share compared to $273 million or $1.53 per share from the same quarter last year.

DTE reiterated operating earnings per share forecast in fiscal 2016 between $4.80 and $5.05.

E I Du Pont De Nemours And Co (DD), the industrial conglomerates said total sales in the first-quarter ending in March slumped 6% from a year ago to $7.41 billion.

Net income in the quarter soared 19.4% to $1.23 billion or $1.39 per diluted share compared to $1.03 billion or $1.13 per share from the same quarter last year.

The company lifted full-year earnings per share forecast in the range of $3.05 to $3.20 from the previous guidance of $2.95 to $3.10 per share, an increase of 10% to 16% from a year ago.

Eli Lilly and Co (LLY), the healthcare products maker reported revenues in the first-quarter ending in March advanced 5% from a year ago to $4.86 billion.

Net income in the quarter plummeted 17% to $440.1 million or 41 cents per diluted share compared to $529.5 million or 50 cents per share from the same quarter last year.

The company estimated earnings per share in 2016 in the range of $2.68 to $2.78 and non-GAAP between $3.50 and $3.60 reflecting the impact of the Venezuelan financial crisis.

Ingersoll-Rand Plc (IR), the Ireland-based diversified manufacturing company said revenues in the first-quarter ending in March edged up 0.2% from a year ago to $2.89 billion.

Net income in the quarter surged three-fold to $152.4 million or 58 cents per diluted share compared to $51.3 million or 19 cents per share from the same quarter last year.

Lockheed Martin Corporation (LMT), the security and aerospace company reported net sales in the first-quarter ending in March surged 15.8% from a year ago to $11.70 billion.

Net income in the quarter slumped 9.6% to $794 million or $2.58 per diluted share compared to $878 million or $2.74 per share from the same quarter last year.

The aerospace company lifted diluted earnings per share forecast in the fiscal 2016 between $11.50 and $11.80 from earlier estimated range of $11.45 to $11.75.

McGraw Hill Financial Inc (MHFI), the credit ratings and digital professional information provider said revenues in the first-quarter ending in March jumped 5% from a year ago to $1.34 billion.

Net income in the quarter fell 3% to $294 million compared to $303 million and diluted earnings per share were flat at $1.10 from the same quarter last year.

The company reaffirmed diluted earnings per share forecasted in fiscal 2016 remains between $5 and $5.15.

Procter & Gamble Co (PG), the healthcare products maker reported net sales in the third-quarter ending in March declined 7% from a year ago to $15.76 billion.

Net income in the quarter soared 28% to $2.75 billion or 97 cents per diluted share compared to $2.15 billion or 75 cents per share from the same quarter last year.

P&G maintained its forecast for organic sales growth of in-line to up low-single digits from a year ago period and all-in sales to be fall high-single digits in fiscal 2016.

Thomson Reuters Corporation (TRI), the professional news and information provider said revenues in the first-quarter ending in March fell 1% from a year ago to $2.79 billion.

Net income in the quarter plunged 14.1% to $262 million or 34 cents per diluted share compared to $305 million or 38 cents per share from the same quarter last year.
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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc