Earnings Roundup: HAL, HAS, DAL, MMR, PETS, EDU
Monday, July 19, 2021 10:07 AM

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Halliburton Co. (NYSE: HAL) said Monday that its second-quarter net income jumped 83% from last year, helped by increased activity in the unconventional natural gas and oil basins in North America. Net income surged to $480 million or 53 cents a share, from $262 million or 29 cents a share in the prior-year quarter. Income from continuing operations totaled $474 million or 52 cents per share in the latest quarter. Revenue grew 26% to $4.39 billion from $3.49 billion in the same quarter last year. Analysts, on average, expected the company to report earnings of 37 cents per share on revenue of $4.09 billion. "We are taking appropriate actions to mitigate the impact of the reduced activity in our Gulf of Mexico business, including redeploying our people and equipment to other areas of stable or increasing activity. Despite these moves, we estimate that the deepwater drilling suspension will negatively impact our earnings by $0.05-$0.08 per quarter for the remainder of 2010," stated Dave Lesar, chairman, president and chief executive officer. Shares of oilfield-services giant jumped 4.80% to $28.83 in morning trading.

Delta Air Lines Inc. (NYSE: DAL) reported Monday that it swung to a second-quarter profit of $467 million, or 55 cents a share, from a loss of $257 million, or 31 cents a share, in the year-earlier quarter. Operating revenue jumped 17% to $8.17 billion from $7 billion. Analysts, on average, expected the company to report earnings of 63 cents per share on revenue of $8.27 billion. Delta generated more than $1 billion in operating cash flow and ended the June 2010 quarter with $6.0 billion in unrestricted liquidity. "Delta's profit this quarter is our best result in a decade and proof that our plan has positioned us well as the economy begins its recovery," said Richard Anderson, Delta's chief executive officer. Shares of the airline company plunged 8.62% to $10.71 in morning trading.

Hasbro (NYSE: HAS) on Monday reported that its second-quarter profit increased to $43.6 million, or 29 cents a share, from $39.3 million, or 26 cents a share. Adjusted earnings rose to $43.7 million from $40.4 million in the comparable quarter last year. Revenue dropped 7% to $737.8 million from $792.2 million. Analysts, on average, expected the company to report earnings of 24 cents per share on revenue of $748.26 million. "We continue to expect our revenues to be more heavily weighted to the second half of the year as our major initiatives are beginning to launch,” said Brian Goldner, Hasbro President and Chief Executive Officer. "Accordingly, we still believe we should be able to grow revenues and earnings per share for the full year 2010, including the dilution from our television investments and barring a further decline in foreign exchange, consumer spending or global economic conditions." Hasbro shares fell 0.68% to $39.23.

McMoRan Exploration Co. (NYSE: MMR) reported that its second-quarter net loss narrowed to $21.75 million, or 23 cents per share, compared with a loss of $100.61 million, or $1.40 per share, in the comparable quarter last year. Net loss per share from continuing operations narrowed to $0.22 from $1.36 in the same period last year. Quarterly revenue increased to $108.04 million from $96.55 million. Analysts, on average, expected the company to report a loss of 22 cents per share on revenue of $105.61 million. McMoran Exploration dropped $1.01 or 0.68% to $39.23 in morning trading.

PetMed Express, Inc. (NASDAQ: PETS) said that its first quarter net income fell to $7.2 million, or 32 cents per share, compared to $8.1 million or 36 cents per share, in the year-ago period. Revenue slipped 3.6% to $74.4 million from $77.2 million. Analysts, on average, expected the company to report earnings of 38 cents per share on revenue of $81.10 million. PetMed Express sank $1.53 or 8.68% to $16.09 in morning trading.

New Oriental Education & Technology Group (NYSE: EDU) said Monday that its fiscal-fourth quarter profit jumped 118.7% to US$ 5.77 million from US$ 2.64 million a year ago. On an ADS basis, earnings totaled US$ 0.15, up from US$ 0.07 a year earlier. Adjusted net income climbed to US$ 9.04 million from US$ 7.12 million in the corresponding quarter last year. On an ADS basis, adjusted net income rose to US$ 0.23 from US$ 0.19 last year. Analysts, on average, expected the company to report earnings of $0.13 cents per share on revenue of $78.96 million.

Disclosure: Author doesn’t own any of the stocks discussed here.

 

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