Ford, (
F: chart), announced that if not for a number of items, the company posted earnings from continuing operations of 26 cents a share, down from a year-earlier equivalent profit of 28 cents a share. Total sales and revenue, which incorporates the contribution of the company''s financial services business, advanced in Q4 to $47.6 billion from $44.9 billion in the same period a year earlier. Automotive sales totaled $41.82 billion in the December quarter, up from $38.87 billion a year earlier.
Eaton Corp., (
ETN: chart), industrial manufacturing company reported Q4 earnings of $1.38 a share, up from $1.16 a share a year-ago. Sales advanced in Q4 to $2.84 billion from $2.63 billion in the same period a year earlier. If not for restructuring charges in both periods, the company earned $1.43 a share, up from $1.23 a share a year ago, beating on that basis analysts’ expectations of $1.37 a share. The company also announced that it is increasing its quarterly dividend by 13% to 35 cents a share from 31 cents, and that it is making a voluntary contribution of $100 million to its qualified pension plan in the U.S.
TD Banknorth, (
BNK: chart), banking services company, reported Q4 earnings of 32 cents a share, up from 12 cents a share in the year-ago period. Aside from non-recurring items, earnings would have been 62 cents a share, up from 59 cents in the same period last year and in line with the analyst estimate. Net interest income was flat with last year’s, while non-interest income fell to $60.1 million from $72.5 million.
Bank of America Corp, (
BAC: chart), banking services, reported that its Q4 profit dropped to 93 cents a share, down from 94 cents a share in the year-ago period on costs related to its recent acquisition on credit card firm MBNA, increased provision expense and lower trading results. If not for merger and restructuring costs, it gained 94 cents a share, missing analyst estimate of $1.02 a share. The company earned $3.85 billion, or 94 cents a year ago in the year ago quarter. Quarterly revenue was $14.12 billion, up 3%.
Pilgrim''s Pride Corp., (
PPC: chart), chicken producer, reported Q1 net income fell 47% to 39 cents a share, down from 73 cents in the year-ago period on 1.8% lower sales. Sales dropped to $1.34 billion from $1.37 billion. The company cited weakness at its Mexico operations plus higher energy costs and lower sales prices for the decline.
Provident Financial Holdings Inc., (
PROV: chart), holding company, reported Q2 net income rose 67% to $1.23 a share, up from 77 cents a share in the year-ago period. In the latest period, the banking company sold a commercial office building, prompting an increase of 53 cents to earnings. Return on assets widened to 2.13% from 1.37%, while return on equity reached 26.12% from 17.6%. Net interest income before provision for losses on possible bad loans increased 6% to $11 million. The net interest margin, the difference between what a bank pays out on deposits and takes in on loans, narrowed 0.06 percentage point to 2.87% from 2.93%.
Bank of Hawaii Corp., (
BOH: chart), banking services, reported Q4 net income of 86 cents a share, up from 82 cents, earned in the same period the previous year, beating analyst estimate by a penny. There were approximately 4 million fewer average shares outstanding in the latest quarter. Earnings for the year-earlier quarter included a return to income of 7 cents a share resulting from a release of reserves for loan and lease losses.
Energizer Holdings Inc., (
ENR: chart) batteries manufacturer, reported that Q1 profit was $1.77 a share, up vs. $1.60 in the year- ago period, topping analysts’ forecasts of $1.61 a share. Earnings included a 5-cent restructuring charge related to the company''s European supply chain. Sales for Q1 advanced to $882.4 million from $875.9 million in last year''s first quarter.
Insteel Industries Inc., (
IIIN: chart), wire products manufacturer, reported Q1 net income of 81 cents a share, up from 54 cents a share in the year-ago period. Sales in Q1 advanced 12% to $83.5 million from $74.7 million.
Carpenter Technology, (
CRS: chart), specialty metals and engineered products producer, reported Q2 earnings of $1.65 a share, up vs. $1.28 a share in the year-ago period, topping analyst estimate of $1.60 a share. Revenue advanced to $345.7 million from last year''s $312.1 million as strength in the aerospace markets helped improve demand for alloys, titanium and ceramic materials.