U.S. Movers: Archer-Daniels, Cardinal Health, Ecolab, Ford, Johnson Controls

Mukesh Buch
30 Oct, 2012
New York City

Archer-Daniels first quarter net plunged 60%. Cardinal Health net soared 15% and reaffirmed fiscal outlook. Ecolab third quarter net jumped 54% but lowered 2012 guidance. Ford third quarter net declined 18% and Johnson Controls fourth quarter net swung to loss.

[R]10:45 AM New York – Archer-Daniels first quarter net plunged 60%. Cardinal Health net soared 15% and reaffirmed fiscal outlook. Ecolab third quarter net jumped 54% but lowered 2012 guidance. Ford third quarter net declined 18% and Johnson Controls fourth quarter net swung to loss.[/R]

Archer-Daniels-Midland-Company ((ADM)), the food processing company said net sales in the first quarter ending in September slid 0.4% to $21.81 billion from $21.90 billion in the same period of last year. Net income in the quarter plunged 60% to $182 million or 28 cents a diluted share compared to $460 million or 68 cents a share a year ago earlier.

The company added operating profit in the oilseeds segment climbed 53% to $336 million and corn processing declined 63% $68 million. Agricultural Services segment operating profit dropped 126% to $224 million.

Cardinal Health, Inc. ((CAH)), the healthcare service provider reported revenue in the first quarter ending in September slipped 3% to $25.9 billion from $26.8 billion in the same period of last year. Net earnings in the quarter soared 15% to $271 million or 79 cents a diluted share compared to $237 million or 68 cents a share a year ago.

The Cardinal reaffirmed its fiscal 2013 outlook for non-GAAP diluted earnings per share from continuing operations of $3.35 to $3.50.

Cobalt International Energy, Inc. ((CIE)), the oil exploration company stated net loss in the third quarter ending in September narrowed to $39 million or 10 cents a diluted share compared to $47 million or 12 cents a share a year ago quarter.

Ecolab Inc. ((ECL)), the personal and household products maker said net sales in the third quarter ending in September surged 74% to $3.02 billion from $1.74 billion in the same period of last year. Net income in the quarter jumped 54% to $238 million or 80 cents a diluted share compared to $154.3 million or 65 cents a share a year ago earlier.

Ecolab lowered its 2012 full year adjusted earnings per share between $2.96 and $3.00, an increase between 17% and 18% from the prior year from the previous forecast range between $2.95 and $3.02.

The company expects fourth quarter adjusted earnings per share in the range of 87 cents to 91 cents represents growth of 24% to 30%.

Ford Motor Company ((F)), the car and truck producer reported revenue in the third quarter ending in September slid 1% to $32.1 billion from $33.1 billion in the same period of last year. Net income in the quarter declined 18% to $1.63 billion or 41 cents a diluted share compared to $1.65 billion or 41 cents a share a year ago.

For the full year, Ford continues to project strong pre-tax profit and positive cash flow from a year ago.

HCP, Inc. ((HCP)), the real estate investment trust stated sales in the third quarter ending in September advanced 8% to $475.5 million from $441.2 million in the same period of last year. Net income in the quarter surged 18% to $195.6 million or 45 cents a diluted share compared to $166.4 million or 41 cents a share a year ago quarter.

For the full year 2012, the company expects net income applicable to common shares between $1.79 and $1.85 per share and net income of fund from operation in the range of $2.68 to $2.74 per share.

Johnson Controls, Inc. ((JCI)), the automotive parts maker reported revenue in the fourth quarter ending in September declined 4% to $10.4 billion from $10.8 billion in the same period of last year. Net loss in the quarter swung to $8 million or 1 cent a diluted share compared to net income of $234 million or 34 cents a share a year ago period.

The company said 2013 first-half earnings estimate to be lower than the same period of 2012 and earnings will increase in the second half.

Talisman Energy Inc. ((TLM)), the oil and gas explorer said total revenue in the third quarter ending in September slumped 12% to $1.72 billion from $1.96 billion in the same period of last year. Net loss in the quarter swung to $731 million or 71 cents a diluted share compared to net income of $521 million or 24 cents a share a year ago earlier.

TRW Automotive Holdings Corp. ((TRW)), the automotive parts supplier stated sales in the third quarter ending in September climbed 9% to $4 billion from $3.9 billion in the same period of last year. Net income in the quarter increased 3% to $163 million or $1.28 a diluted share compared to $158 million or $1.22 a share a year ago quarter.

TRW expects full year sales are expected between $16.2 billion and $16.3 billion and production volumes totaled to 15.2 million units in North America and 18.7 million units in Europe.