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DAILY EARNINGS

3M, Exxon Mobil Net Flat; Colgate, ConocoPhillips Net Plunge


Author: Mukesh Buch
ticker.com
Last Update: 12:20 PM ET April 25 2013

10:45 AM New York 3M first quarter net flat at $1.13 billion. Colgate first quarter net plunged 22% to $460 million. ConocoPhillips net tumbled 28% to $2.1 billion. Exxon Mobil net nearly flat to $9.50 billion. Qualcomm first quarter net soared 36% to $1.91 billion.

Earnings Review

3M Company (MMM), the diversified technology reported net sales in the first quarter ending in March grew 2% to $7.63 billion. Net income in the quarter was flat at $1.13 billion from a year ago and or $1.61 a diluted share compared to $1.59 a year earlier.

3M anticipates full year earnings to be in the range of $6.60 to $6.85 per share from earlier expected range of $6.70 to $6.95 per share.

Altria Group, Inc. (MO), the holding company said net revenues in the first quarter ending in March decreased 2.1% to $5.52 billion. Net earnings in the quarter climbed 16% to $1.39 million or 69 cents a diluted share compared to $1.20 billion or 59 cents.

The company added gross profit in the quarter jumped 21% to $2.67 billion.

Biogen Idec Inc. (BIIB), the biotechnology company reported net sales in the first quarter ending in March surged 10% to $1.4 billion. Net income in the quarter soared 41% to $426.7 million or $1.79 a diluted share compared to $302.7 million or $1.25.

Colgate-Palmolive Company (CL), the consumer products maker stated net sales in the first quarter ending in March advanced 3% to $4.32 billion. Net income in the quarter plunged 22% to $460 million or 97 cents a diluted share compared to $593 million or $1.23.

The company added operating profit in the quarter dropped 21% to $742 million.

North America net sales in the quarter jumped 5.5% and Latin America sales rose 1%. Europe/South Pacific net sales in quarter slid 0.5% and Hill''s net sales fell 1.5%. Net sales from Greater Asia/Africa and unit volume increased 8.5% and 11.0%, respectively.

The Colgate anticipates another year of strong organic sales growth and gross margin expansion in 2013.

ConocoPhillips (COP), the oil and gas explorer said total revenue in the first quarter ending in March dropped 9% to $14.7 billion. Net income in the quarter tumbled 28% to $2.1 billion or $1.73 a diluted share compared to $2.9 billion or $2.27.

Exxon Mobil Corporation (XOM), the petroleum products maker stated total revenues in the first quarter ending in March declined 12% to $108.81 billion. Net income in the quarter nearly flat to $9.50 billion or $2.12 a diluted share compared to $9.45 billion or $2.

Intuit Inc (INTU), the financial management solution provider lowered revenue guidance in the third quarter and expects between of $2.17 billion and $2.18 billion from previous guidance of $2.22 billion to $2.28 billion and diluted earnings per share in the range of $2.79 to $2.81 from earlier guidance of $2.83 to $2.88.

Qualcomm Incorporated (QCOM), the communication company reported revenue in the first quarter ending in March surged 29% to $6.02 billion. Net income in the quarter soared 36% to $1.91 billion or $1.09 a diluted share compared to $1.40 billion or 81 cents.

Western Digital Corporation (WDC), the audio and video company said revenue in the third quarter ending on March 29 soared 24% to $3.76 billion. Net income in the quarter declined 19% to $391 million or $1.60 a diluted share compared to $483 million or $1.96.

The Dow Chemical Company (DOW), the science and technology reported net sales in the third quarter ending on March 29 grew 2% to $14.38 billion. Net income in the quarter jumped 28% to $635 million or 46 cents a diluted share compared to $497 million or 35 cents.

United Parcel Service, Inc (UPS), the package delivery company reported total revenue in the first quarter ending in March grew 2.3% to $13.4 billion. Net income in the quarter climbed 6.9% to $1.04 billion or $1.08 a diluted share compared to $970 million or $1.

The company reaffirms full year guidance for adjusted diluted earnings per share to be within a range of $4.80 to $5.06.
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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