Earnings snapshots
July 25, 2007
United Airlines’ parent company reported its biggest quarterly profit in seven years, a better-than-expected gain generated by cost reductions and fuller planes during a busy summer travel season.
UAL said net income surged to $274 million, or $1.83 a share, from the year-ago $119 million, or 93 cents a share. Revenues inched up 2 percent, to $5.21 billion.
JetBlue Airways Corp.
The carriers’s second-quarter profit grew 50 percent on greater passenger volume, but the company announced plans to slow its growth in the wake of a February debacle in which an ice storm forced the cancellation of 1,700 flights and cost Chief Executive David Neeleman his job.
JetBlue, which Neeleman started after beginning his airline career in Utah, said net income grew to $21 million, or 11 cents a share, from $14 million, or 8 cents a share, in the year-ago quarter. Revenue rose to $730 million from $612 million.
Amazon.com Inc.
The Web retailer’s second-quarter profit more than tripled, boosted by strong sales of books, music and electronics worldwide. Its stock soared 11.3 percent in after-hours trading.
Earnings for the three months ended June 30 climbed to $78 million, or 19 cents per share, from
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$22 million, or 5 cents per share during the same period last year. Revenue rose 35 percent, to $2.88 billion, beating analysts’ expectations.
McDonald’s Corp.
The world’s largest restaurant chain posted its second-ever loss - its first in nearly five years - losing $711.7 million in the second quarter because of a hefty one-time charge.
Net income swung to a loss of 60 cents per share compared to $834.1 million or 67 cents per share, a year earlier. Revenue climbed 12 percent to $6 billion.
Supervalu Inc.
The second-largest U.S. supermarket chain said first-quarter profit climbed 70 percent on its purchase of Albertsons Inc. The shares fell the most in five years after the company said sales are slowing.
Net income rose to $148 million, or 69 cents a share. Revenue more than doubled, to $13.3 billion. Sales began to slow at the end of the quarter.
Eli Lilly & Co.
The world’s biggest maker of psychiatric drugs said second-quarter profit fell 19 percent, less than analysts expected, after the company took on costs from three acquisitions. The drug maker raised its 2007 forecast on surging sales, and the company’s shares rose.
Net income dropped to $663.6 million, or 61 cents a share, from $822 million, or 76 cents, a year earlier. Revenue climbed 20 percent, to $4.6 billion, led by the antidepressant Cymbalta and the impotency drug Cialis.
Countrywide Financial Corp.
The biggest U.S. mortgage lender reported a third straight quarterly earnings decline and reduced its 2007 forecast as a growing number of consumers fell behind on home-equity loan payments.
Second-quarter net income tumbled 33 percent to $485.1 million, or 81 cents a share, from $722.2 million, or $1.15, a year earlier. Analysts estimated Countrywide would earn 91 cents. Revenue fell 15 percent, to $2.55 billion.
PepsiCo Inc.
The world’s second-largest soft drink maker said its second-quarter profit rose 13 percent on the strength of international sales and raised its full-year earnings outlook. But its shares slipped as the company announced declines for Gatorade sports drinks and Tropicana orange juice.
Profit was $1.56 billion, or 94 cents per share, up from $1.38 billion, or 81 cents per share, a year earlier. Revenue rose 10 percent, to $9.6 billion.
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American Express
The the third-largest credit card network said it missed profit targets prompted by one-time costs, higher interest expenses and because more customers are shirking their payments. Share prices fell more than 5 percent.
Net income rose 12 percent, to $1.06 billion, or 88 cents a share from $945 million, or 76 cents per share, in the same period a year ago. Revenue advanced 9 percent, to $7.13 billion.
U.S. Steel Corp.
The biggest U.S.- based steelmaker said second-quarter profit fell 25 percent as demand slowed from makers of automobiles and appliances in North America.
Net income declined to $302 million, or $2.54 a share, from $404 million, or $3.22, a year earlier. Sales rose 2.9 percent, to $4.24 billion.
Arch Coal Inc.
The No. 2 U.S. coal producer, which has operations in Utah, said second-quarter profit fell 46 percent and earnings for the rest of this year will be lower than previously predicted.
Net income slid to $37.6 million, or 26 cents a share after payment of dividends on preferred stock, from $69.7 million, or 48 cents, a year earlier. Sales fell 6.1 percent to $598.7 million.
AT&T Inc.
The largest U.S. phone company reported a 61 percent increase in second-quarter profit after $140 billion in acquisitions almost doubled revenue.
Net income rose to $2.9 billion, or 47 cents a share, from $1.81 billion, or 46 cents, a year earlier. Sales advanced to $29.5 billion.
DuPont Co.
Shares of the third-biggest U.S. chemical maker tumbled the most in two years after the company reported second-quarter earnings that missed analysts’ estimates.
Net income dropped 0.3 percent to $972 million from $975 million a year earlier. Per-share profit was unchanged at $1.04, less than the $1.07 analysts expected. Sales gained 5.1 percent to $8.24 billion.
United Parcel Service
The world’s largest package-shipping company said second-quarter profit climbed 4.1 percent on rising overseas shipments.
Net income increased to $1.1 billion, or $1.04 a share, from $1.06 billion, or 97 cents, a year earlier, topping analysts’ expectations by 1 cent. Sales rose 3.9 percent, to $12.2 billion.
BP PLC
One of Europe’s biggest oil companies reported a 1.5 percent increase in second-quarter profit, boosted by proceeds from the sale of its last British refinery and a pipeline in the U.S. But its earnings excluding those gains and other unusual items fell 12.5 percent from a year ago.
BP posted a net profit of $7.38 billion, up from $7.27 billion in the same period a year earlier. Revenue was marginally lower at $73.1 billion.
Occidental Petroleum Corp.
The fourth-largest U.S. oil company said second-quarter profit rose 64 percent on gains from asset sales.
Net income rose to $1.41 billion, or $1.68 a share, from $860 million, or 99 cents, a year earlier. The results included a gain of $419 million, or 50 cents, from the sale or exchange of noncore assets. Sales fell 1.3 percent, to $4.41 billion.
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