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DAILY EARNINGS

du Pont Net Soars 31%, Delta Air Lines Net Tumbles


Author: Mukesh Buch
ticker.com
Last Update: 11:28 AM ET April 23 2013

10:45 AM New York Coach first quarter net jumped 6% to $238.9 million. Delta Air Lines first quarter net tumbled 94% to $7 million. du Pont first quarter net soared 31% to $3.35 billion. Illinois Tool first quarter net dropped 27% to $354 million. The Travelers Co first quarter net jumped 11% to $896 million.

Earnings Review

Air Products and Chemicals, Inc (APD), the specialty gas supplier reported sales in the second quarter ending in March advanced 6% to $2.48 billion. Net earnings in the quarter slipped 2% to $290.4 million or $1.38 a diluted share compared to $296 million or $1.38.

The company said operating income in the quarter jumped 35% to $389.7 million.

Air Products expects third quarter adjusted earnings per share from continuing operations between $1.33 and $1.38.

For the year Air Products expects adjusted earnings per share for continuing operations in the range of $5.45 to $5.60.

A. O. Smith Corporation (AOS), the water heating equipment maker reported net sales in the first quarter ending in March climbed 9% to $509.6 million. Net earnings in the quarter tumbled 18% to $39 million or 84 cents a diluted share compared to $47.5 million or $1.02.

The company added gross profit in the quarter surged 20% to $179.3 million.

For the year, the company expects diluted earnings per share between $3 and $3.16 per share.

Ameriprise Financial, Inc. (AMP), the holding company stated revenue in the first quarter ending in March jumped 5% to $2.70 billion. Net earnings in the quarter surged 27% to $335 million or $1.61 a diluted share compared to $244 million or $1.07.

Coach, Inc. (COH), the gift accessories maker reported net sales in the third quarter ending on March 30 surged 7% to $1.19 billion. Net income in the quarter jumped 6% to $238.9 million or 84 cents a diluted share compared to $225 million or 77 cents.

CIT Group Inc. (CIT), the holding company said total interest income in the first quarter ending in March plunged 17% to $355.8 million. In the quarter net income swung to $162.6 million or 81 cents a diluted share compared to net loss of $427 million or $2.13.

Delta Air Lines, Inc. (DAL), the aviation company reported total operating revenue in the first quarter ending in March grew 1% to $8.50 billion. Net income in the quarter tumbled 94% to $7 million or 1 cent a diluted share compared to $124 million or 15 cents.

The company said first quarter passenger revenue grew 1.4% to $107 million and Passenger unit revenue increased 4.1%. Cargo revenue fell 2.4% and operating revenue grew 1% to $87 million.

E. I. du Pont de Nemours and Company (DD), the chemical company reported net sales in the first quarter ending in March grew 3% to $10.5 billion. Net income in the quarter soared 31% to $3.35 billion or $3.58 a diluted share compared to $1.49 billion or $1.58.

For the full year the company reaffirms its operating earnings per share in the range of $3.85 to $4.05, an increase of 2% to 7%.

Illinois Tool Works Inc. (ITW), the industrial products maker said net sales in the first quarter ending in March plunged 9% to $4 billion. Net income in the quarter dropped 27% to $354 million or 78 cents a diluted share compared to $486 million or $1.

Paccar Inc (PCAR), the heavy-duty trucks maker stated net sales in the first quarter ending in March plunged 20% to $3.63 billion. Net income in the quarter declined 27% to $236.1 million or 67 cents a diluted share compared to $627.3 million or 91 cents.

Rogers Communications Inc. (RCI), the Canada based communications and media company reported operating revenue in the first quarter ending in March advanced 3% to $3.03 billion. Net income in the quarter soared 16% to $353 million or 68 cents a diluted share compared to $305 million or 57 cents.

Consolidated revenue from wireless network revenue and cable revenue growth was each of 4%. Wireless data revenue surged 22%. Wireless activated and upgraded to 673,000 smart-pones and new subscribers to wireless registered 33%.

The Travelers Companies, Inc (TRV), the insurance company said net sales in the first quarter ending in March slid 1% to $6.33 billion. Net income in the quarter jumped 11% to $896 million or $2.33 a diluted share compared to $806 million or $2.02.
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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