In Case You Missed This Week's Dow Earnings: Part 2

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This past week, eight of the Dow Jones Industrial Average's (DJINDICES: ^DJI  ) 30 components reported earnings: McDonald's, DuPont (NYSE: DD  ) , AT&T, Travelers (NYSE: TRV  ) , United Technologies, Caterpillar (NYSE: CAT  ) , Boeing, and 3M (NYSE: MMM  ) .

In case you missed the releases, let's look at a four of them today and see how they performed during the second quarter of 2013. To learn about the other four, click here.

On Tuesday, DuPont and Travelers both reported results. DuPont was expected to report $10.04 billion in revenue and $1.27 per share in earnings, but it fell short at $9.8 billion and $1.11. The company earned $1.23 per share a year ago, so this was quite the miss. Management has discussed the option of selling or spinning off its chemical business but didn't give investors a time table for that move during the conference call. But despite the poor numbers, the stock managed to rise 0.91% this past week.  

Travelers, meanwhile, posted EPS of $2.13, while Wall Street had been looking for $1.60. Revenue came in at $5.8 billion, just under the $5.9 billion analysts had wanted to see. Travelers announced plans to cut costs by as much as $140 million in the consumer segment as the company realized a 12% decline in auto policies last year and a 9% drop in home insurance. Management explained that consumers are finding it much easier to switch from one insurance company to another to save a few bucks. Shares of Travelers lost 1.25% this past week.  

On Wednesday, Caterpillar disappointed investors after missing on both the top and bottom lines and lowering guidance for the full year. Analysts were expecting revenue of $15.1 billion and EPS of $1.69, and the company missed on both. Sales were reported at $14.6, a 15.8% year-over-year drop, and EPS of $1.45, down 43% from the $2.54 the company reported last year. Management lowered its full-year forecast from $7 per share to $6.50. A slow global economy and weak commodity prices have affected sales, but management has stated that it will focus on cutting costs to help results in the future. Caterpillar lost 4.19% during the past five trading sessions.

And finally on Thursday, 3M released its second-quarter results, which beat slightly on the bottom and just barely missed on the top. Revenue came in at $7.75 billion, while Wall Street was looking for $7.77 billion, and EPS hit $1.71 while expectations had been set at $1.70. Revenue was up 2.9% over the same time frame last year, while EPS was higher by $0.05. Management praised the company's handling of some difficult conditions during the first six months of the year and expects demand to increase during the second half of 2013. The stock shed 1.25% this past week.  

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  • Report this Comment On July 29, 2013, at 8:05 AM, funfundvierzig wrote:

    DuPont Management to divert attention from their shabby Q2 2013 performance with six out of eight business segments showing declines in operating earnings hit the media with plans for more dramatic shrinkage of what used to be the world's largest and most powerful chemical enterprise. This time it's about the last arena in which DuPont is truly the world leader, namely the production and sale of TIO2.

    In dumping DuPont Performance Chemicals, DuPont Management will be purging 20% of the Company's annual revenues, or $7 to $8 billion.


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