Ecolab Lifts Outlook, Merck Net Tumbles; Cummins Drops but Beats Earnings

Mukesh Buch
01 May, 2018
New York City

Aetna net swung to profit. American Tower lowered fiscal outlook. Archer-Daniels net and revenues jumped. Cummins net plunged but revenues surged. Ecolab net fell. Merck net tumbled 54%. Pfizer profit surged but revenues disappointed.

[R]12:05 PM New York City, New York – Aetna net swung to profit. American Tower lowered fiscal outlook. Archer-Daniels net and revenues jumped. Cummins net plunged but revenues surged. Ecolab net fell. Merck net tumbled 54%. Pfizer profit surged but revenues disappointed.[/R]

Tollbooth Index dropped 107.03 or 0.7% to 14,638.60 but for the year-to-date jumped 6.3%.

Earnings Review

Aetna Inc ((AET)) gained 56 cents to $179.62 after the health insurance services provider reported revenues in the first-quarter ending in March increased 1% from a year ago to $15.3 billion.

Net in the quarter swung to profit $1.2 billion or $3.67 per diluted share from a loss of $381 million or $1.11 in the same quarter last year.

American Tower Corporation ((AMT)) rose 14 cents to $136.50 after the cell towers provider said total revenues in the first-quarter ending in March jumped 7.8% from a year ago to $1.7 billion.

Net income in the quarter declined 9.8% to $285.2 million or 63 cents per diluted share from $316.1 million or 67 cents in the same quarter last year.

American Tower lowered fiscal 2018 property revenue, net income and operating profit by $60 million, $45 million and $35 million, respectively, this includes the impact of its pending Idea transaction in India, with an assumed closing date of May 31.

Archer-Daniels-Midland Company ((ADM)) increased 29 cents to $45.67 after the food processing and commodities trading services provider reported revenues in the first-quarter ending in March advanced 3.6% from a year ago to $15.5 billion.

Net income in the quarter soared 15.9% to $393 million or 70 cents per diluted share from $339 million or 59 cents in the same quarter last year.

Cummins Inc ((CMI)) plunged 5.5% or $8.8 to $151.03 after the engine maker said revenues in the first-quarter ending in March surged 21% from a year ago to $5.6 billion.

Net income in the quarter plunged 17.9% to $325 million or $1.96 per diluted share from $396 million or $2.36 in the same quarter last year.

Cummins forecasted fiscal 2018 revenues to jump between 10% and 14%.

Ecolab Inc ((ECL)) added 19 cents to $144.96 after the cleaning and sanitation products maker said net sales in the first-quarter ending in March surged 10% from a year ago to $3.5 billion.

Net income in the quarter fell 3% to $247.3 million or 84 cents per diluted share from $254 million or 86 cents in the same quarter last year.

Ecolab lifted fiscal 2018 diluted earnings per share forecast to between $5.30 and $5.50, from the earlier estimate of $5.25 to $5.45 and represented increasing of 13% to 18% from a year ago period.

Merck & Company Inc ((MRK)) slumped 2.7% or $1.59 to $57.28 after the therapeutic drugs maker reported revenues in the first-quarter ending in March soared 6% from a year ago to $10 billion.

Net income in the quarter tumbled 54% to $736 million or 27 cents per diluted share from $1.6 billion or 56 cents in the same quarter last year.

Merck forecasted fiscal 2018 revenues in the range of $41.8 billion to $43 billion and diluted earnings per share in the range of $2.45 and $2.57.

Pfizer Inc ((PFE)) declined 4.4% or $1.60 to $35.02 after the drug maker said revenues in the first-quarter ending in March increased 1% from a year ago to $12.9 billion.

Net income in the quarter jumped 14% to $3.6 billion or 59 cents per diluted share from $3.1 billion or 51 cents in the same quarter last year.

Pfizer reaffirmed fiscal 2018 revenues between $53.5 billion and $55.5 billion and diluted earnings per share in the range of $2.90 to $3.