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DAILY EARNINGS

Dow, Eli Lilly, McDonald's Net Soar; Raytheon, Grace Net Plunge


Author: Mukesh Buch
ticker.com
Last Update: 3:59 AM ET October 22 2015

12:30 AM New York 3M third-quarter net were flat at $1.3 billion. Dow Chemical third-quarter net surged 51% to $1.3 billion. Eli Lilly third-quarter net soared 60% to $800 million. McDonald''s third-quarter net surged 23% to $1.3 billion. Union Pacific third-quarter net slumped 5% to $1.3 billion.

Tollbooth Index jumped 159.37 or 1.5% to 10,757.10.

Earnings Review

3M Co (MMM), the diversified technology company reported net sales in the third-quarter ending in September declined 5.3% from a year ago to $7.71 billion.

Net income in the quarter was flat at $1.30 billion from a year ago and diluted earnings per share increased to $2.05 compared to $1.98 in the same quarter last year.

The company forecasted earnings per share for the year in the range of $7.73 to $7.78 and plans to reduce 1,500 jobs under a global restructuring program.

Dow Chemical Co (DOW), the chemical conglomerate said revenues in the third-quarter ending in September plunged 16.4% from a year ago to $12.04 billion.

Net income in the quarter surged 51.4% to $1.29 billion or $1.09 per diluted share compared to $852 million or 71 cents from the same quarter last year.

Eli Lilly and Co (LLY), the drug manufacturer said revenues in the third-quarter ending in September rose 2% from a year ago to $4.96 billion.

Net income in the quarter soared 60% to $799.7 million or 75 cents per diluted share compared to $500.6 million or 47 cents from the same quarter last year.

The company lifted earnings per share forecast in the range of $3.40 to $3.45 from the earlier estimated range of $3.20 to $3.30 and revenue between $19.7 billion and $20 billion.

EQT Corporation (EQT), the energy company stated revenues in the third-quarter ending in September slid 0.3% from a year ago to $577 million.

Net income in the quarter plunged 58.6% to $40.8 million or 27 cents per diluted share compared to $98.6 million or 65 cents from the same quarter last year.

McDonald''''s Corporation (MCD), the quick service restaurants operator reported revenues in the third-quarter ending in September declined 5% from a year ago to $6.62 billion.

Net income in the quarter surged 23% to $1.31 billion or $1.40 per diluted share compared to $1.07 billion or $1.09 from the same quarter last year.

Global comparable sales in the quarter jumped 4% and U.S. comparable sales edged up 0.9% while international lead markets comparable sales soared 4.6% in Australia, the U.K., Canada and Germany.

McDonald''''s said comparable sales in the high growth markets segment soared 8.9% reflecting strong comparable sales performance in China.

Parker-Hannifin Corp (PH), the precision engineering solution provider said net sales in the third-quarter ending in September dropped 12.2% from a year ago to $2.87 billion.

Net income in the quarter plummeted 30.4% to $195 million or $1.41 per diluted share compared to $280.2 million or $1.85 from the same quarter last year.

The company lowered earnings per share forecast to between $5.80 and $6.40 from the earlier estimated range of $6.65 to $7.35.
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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