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DAILY EARNINGS

Moody's, Paypal Net Jump; GE, Honeywell, McDonald's Net Slump


Author: Mukesh Buch
ticker.com
Last Update: 2:00 AM ET October 21 2016

12:00 PM New York – GE third-quarter net declined 20% to $2 billion. Honeywell third-quarter net fell 2% to $1.2 billion. McDonald''s third-quarter net slid 3% to $1.3 billion. Moody''s third-quarter net jumped 10% to $255 million. Paypal third-quarter net surged 7.3% to $323 million.

Tollbooth Index edged up 2.83 to 10,870.33.

Earnings Review

General Electric Company (GE), the industrial conglomerates reported total revenues in third-quarter ending in September jumped 4% from a year ago to $29.3 billion.

Net income in the quarter declined 20% to $1.99 billion or 22 cents per diluted share compared to the $2.51 billion or 25 cents per share from the same quarter last year.

GE lowered its full-year revenue forecast to flat to growth of approx 2% and earnings per share between $1.48 and $1.52 compared to the earlier estimated range of $1.45 to $1.55.

Honeywell International Inc (HON), the aircraft engines maker said revenues in third-quarter ending in September rose 2% from a year ago to $9.8 billion.

Net income in the quarter fell 1.6% to $1.24 billion or compared to the $1.26 billion and diluted earnings per share was flat at $1.60 from the same quarter last year.

Honeywell forecasted sales in the full-year to increase between 2% and 3% or in the range of $39.4 billion to $39.6 billion and diluted earnings per share jump 8% to 9% or in the range of $6.60 to $6.64.

McDonald''s Corporation (MCD), the quick services restaurants operator reported revenues in third-quarter ending in September fell 3% from a year ago to $6.4 billion.

U.S. comparable sales increased 1.3% and global comparable sales jumped 3.5% and comparable sales for the international lead segment increased 3.3%, on strong sales in the U.K., Australia, Canada and Germany.

Third quarter comparable sales rose 1.5% and comparable sales in the leading markets led by strong performance in Japan soared 10.1%.

Net income in the quarter slid 3% to $1.28 billion or $1.50 per diluted share compared to the $1.31 billion or $1.40 per share from the same quarter last year.

Moody''s Corporation (MCO), the credit ratings provider said revenues in third-quarter ending in September advanced 10% from a year ago to $917.1 million.

Net income in the quarter jumped 10.2% to $255.3 million or $1.31 per diluted share compared to the $231.6 million or $1.14 per share from the same quarter last year.

Moody’s said revenues in the investor service segment soared 12% to $612.3 million while revenues in analytics business jumped 6% to $304.8 million.

In the fiscal 2016, Moody’s forecasted earnings per share in the range of $4.76 to $4.86.

Parker-Hannifin Corp (PH), the industrial machinery and equipment maker reported revenues in first-quarter ending in September declined 4.5% from a year ago to $2.74 billion.

Net income in the quarter soared 8% to $210.2 million or $1.55 per diluted share compared to the $195 million or $1.41 per share from the same quarter last year.

The industrial equipment maker estimated earnings per share in the year between $6.40 and $7.10.

Paypal Holdings Inc (PYPL), the payments processing services provider stated revenues in third-quarter ending in September fell 18.1% from a year ago to $2.67 billion.
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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