Earnings Roundup: GS, JNJ, PEP, UNH, BTU, HOG, WHR
Tuesday, July 20, 2021 9:30 AM

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Goldman Sachs Group Inc. (NYSE: GS) reported Tuesday that its second-quarter profit slumped 82% from last year, hurt by its settlement of U.S. Securities and Exchange Commission civil fraud charges and UK payroll tax. Net income declined to $453 million or 78 cents per share, from $2.718 billion or $4.93 per share in the year-ago quarter. Adjusted earnings totaled $2.75 per share in the latest quarter. Revenue dropped to $8.841 billion from $13.761 billion. Analysts, on average, expected the company to report earnings of $2.04 per share on revenue of $8.99 billion. 

Johnson & Johnson, (NYSE: JNJ) said Tuesday that its second-quarter net income climbed 7.5% to $3.45 billion, or $1.23 a share, from $3.21 billion, or $1.15, in the comparable period last year. Adjusted earnings increased to $1.21 a share, from $1.15 in the year-ago quarter. Revenue rose 0.6% to $15.33 billion from $15.24 billion. Analysts, on average, expected the company to report earnings of $1.21 per share on revenue of $15.66 billion.

PepsiCo Inc. (NYSE: PEP) said Tuesday that its second-quarter net income dropped 3% to $1.6 billion, or 98 cents a share, from $1.7 billion, or $1.06 a share, in the year-earlier quarter. Core net income totaled $1.10 a share, or $1.09 a share after a currency adjustment. Revenue climbed to $14.8 billion from $10.6 billion.  Analysts, on average, expected the company to report earnings of $1.08 per share on revenue of $14.41 billion.

UnitedHealth Group Inc. (NYSE: UNH) on Tuesday said that second-quarter net income climbed to $1.123 billion, or 99 cents a share, from $859 million, or 73 cents a share, in the year-ago period. Quarterly revenue grew 7% to $23.3 billion. Analysts, on average, expected the company to report earnings of 75 cents per share on revenue of $22.97 billion.

Peabody Energy Corp., (NYSE: BTU) said Tuesday that its second-quarter profit more than doubled to $206.2 million, or 76 cents a share, from $79.2 million, or 29 cents, in the corresponding period last year. Adjusted earnings from continuing operations rose to 69 cents a share from 50 cents. Revenue climbed to $1.66 billion from $1.34 billion. Analysts, on average, expected the company to report earnings of 63 cents per share on revenue of $1.68 billion.

Harley-Davidson Inc. (NYSE: HOG) reported Tuesday that its second-quarter net income jumped to $71.16 million, or 30 cents a share, from $19.75 million, or 8 cents a share, in the prior-year quarter. Earnings from continuing operations climbed to 59 cents a share, from 14 cents a share. Revenue remained relatively flat at $1.14 billion. Analysts, on average, expected the company to report earnings of 41 cents per share on revenue of $1.13 billion.

Whirlpool Corp. (NYSE: WHR) said Tuesday that its second-quarter net profit surged to $205 million, or $2.64 a share, from $78 million, or $1.04 a share, in the comparable quarter last year. Adjusted earnings totaled $2.82 per share in the latest quarter. Revenue grew 8.8% to $4.53 billion. Analysts, on average, expected the company to earn $2.17 per share on revenue of $4.50 billion.

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

 

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Market news:

  • Serena Williams withdraws from Australian Open Nov 25, 2021 10:19 AM

    • MELBOURNE, Australia - Serena Williams withdrew from the Australian Open because of a foot injury after winning the Grand Slam event the last two years.
    • Tournament director Craig Tiley released a statement Thursday saying Williams had pulled out of the Hopman Cup international mixed teams competition in Perth and the Australian Open in January.
    • It will be the second consecutive major Williams misses, and the loss of 2,000 rankings points could cost the 29-year-old star her place in the top 10.
      • Kanye West, Kung Fu Panda star at NYC parade Nov 25, 2021 09:20 AM

        • NEW YORK - A high-kicking Kung Fu Panda and a diary-toting Wimpy Kid are joining the giant balloon lineup for the Macy's Thanksgiving Day Parade.
        • Millions more were expected to watch the live broadcast on NBC.
        • Entertainers expected to perform include Kanye West, Gladys Knight, Colombian rocker Juanes and the Broadway casts of "American Idiot" and "Elf."
          • SKorea's defense chief resigns over NKorea attack Nov 25, 2021 09:20 AM

            • YEONPYEONG ISLAND, South Korea - South Korea's defense minister resigned Thursday amid intense criticism two days after a North Korean artillery attack killed four people on a small island near the Koreas' disputed frontier.
            • The move came as President Lee Myung-bak vowed to send more troops to the front-line South Korean island and as residents tried to salvage belongings from the blackened wreckage of their homes.
            • Skirmishes between the Korean militaries are not uncommon, but North Korea's heavy bombardment of Yeonpyeong Island was the first on a civilian area, raising fears of an escalation that could lead to a new war on the Korean peninsula.
              • Retailers hope holiday shoppers ready to trade up Nov 25, 2021 09:07 AM

                • NEW YORK - After two Christmas seasons of pushing socks, pajamas and other basics as gifts, retailers are betting that Americans are ready to give a little more this year.
                • Black Friday displays are being loaded with fancier laptops, bigger TVs and deluxe gym sets, though stores acknowledge shoppers will buy only if it's a good deal.
                • The cautious optimism comes as more Americans are feeling more secure financially and spending a bit more on nonessentials.
                  • Billy Joel mending after replacements of both hips Nov 25, 2021 08:53 AM

                    • NEW YORK - Billy Joel is recovering from double hip-replacement surgery.
                    • Joel spokeswoman Claire Mercuri told People magazine Wednesday that the 61-year-old pop star had both hips replaced last week to correct a congenital condition.
                    • She says Joel, the Rock and Roll Hall of Famer responsible for such hits as "Piano Man," `'Uptown Girl" and "New York State of Mind," is doing "extremely well."

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