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DAILY EARNINGS

Eli Lilly, McDonald's Net Rise; 3M, Caterpillar, Verizon Net Plunge


Author: Mukesh Buch
ticker.com
Last Update: 12:10 PM ET July 26 2016

12:00 PM New York 3M second-quarter net slid 1% to $1.3 billion. Du Pont second-quarter net jumped 9% to $1 billion. Eli Lilly second-quarter net surged 24% to $745 million. Gilead Sciences second-quarter net plunged 22% to $3.5 billion. McDonald''s second-quarter net dropped 9% to $1.1 billion.

Tollbooth Index edged up 2.30 to 10,995.22.

Earnings Review

3M Co (MMM), the industrial conglomerate said sales in the in the second-quarter ending in June fell 0.3% from a year ago to $7.7 billion.

Net income in the quarter slid 0.8% to $1.29 billion or $2.08 per diluted share compared to $1.30 billion or $2.02 per share from the same quarter last year.

Caterpillar Inc (CAT), the construction and mining equipment maker said revenues in the second-quarter ending in June declined 16.1% from a year ago to $10.34 billion.

Net income in the quarter tumbled 31.4% to $550 million or 93 cents per diluted share compared to $802 million or $1.31 per share from the same quarter last year.

Caterpillar announced additional workforce reductions are likely in the second-half of the year and that will increase the restructuring costs.

The construction and mining equipment maker lowered revenues forecast in the year in the range of $40 billion to $40.5 billion from earlier estimated range between $40 billion and $42 billion and earnings per share in the range of $2.75 to $3.55 compared to the previous guidance between $3 and $3.70.

E I Du Pont De Nemours And Co (DD), the industrial conglomerate reported sales in the second-quarter ending in June fell 1% from a year ago to $7.1 billion.

Net income in the quarter jumped 8.5% to $1.02 billion or $1.16 per diluted share compared to $940 million or $1.03 per share from the same quarter last year.

The chemical products provider estimated earnings per share in fiscal 2016 in the range of $2.70 to $2.75.

Eli Lilly and Co (LLY), the pharmaceutical products maker stated revenues in the second-quarter ending in June soared 9% from a year ago to $5.40 billion.

Net income in the quarter surged 24% to $747.7 million or 71 cents per diluted share compared to $600.8 million or 56 cents per share from the same quarter last year.

Eli Lilly forecasted revenues in the year in the range of $20.6 billion to $21.1 billion and earnings per share between $2.68 and $2.78.

Gilead Sciences, Inc (GILD), the bio therapeutic drugs maker reported in the second-quarter ending in June dropped 5.6% from a year ago to $7.78 billion.

Net income in the quarter plunged 22% to $3.50 billion or $2.58 per diluted share compared to $4.49 billion or $2.92 per share from the same quarter last year.

Las Vegas Sands Corp (LVS), the casino operator said revenues in the second-quarter ending in June slumped 12.1% from a year ago to $2.02 billion.

Net income in the quarter declined 30.1% to $327.9 million or 41 cents per diluted share compared to $469.2 million or 59 cents per share from the same quarter last year.

McDonald''s Corporation (MCD), the quick service restaurants operator reported revenues in the second-quarter ending in June decreased 4% from a year ago to $6.27 billion.

Global comparable sales in the quarter jumped 3.1% and in the U.S., comparable sales rose 1.8% and comparable sales in the international lead segment increased 2.6%.

Net income in the quarter dropped 9% to $1.1 billion or $1.25 per diluted share compared to $1.2 billion or $1.26 per share from the same quarter last year.

Verizon Communications Inc (VZ), the communications and entertainment products provider said revenues in the second-quarter ending in June dropped 5.3% from a year ago to $30.53 billion.

Net income in the quarter tumbled 80.9% to $831 million or 17 cents per diluted share compared to $4.35 billion or $1.04 per share from the same quarter last year.

United Technologies Corporation (UTX), the aerospace products provider reported sales in the second-quarter ending in June rose 1% from a year ago to $14.9 billion.

Net income in the quarter plunged 11% to $1.37 billion or $1.71 per diluted share compared to $1.54 billion or $1.64 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