Earnings Roundup: MHP, KMB, ALV, IR, ASH, DOV, TROW
Friday, July 23, 2021 10:45 AM

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McGraw-Hill Companies (NYSE: MHP) reported Friday that its second-quarter net income climbed 16% from last year, helped by solid results in the U.S. college and university market, a strong performance by Standard & Poor's indices, and strength in the global energy information market. Net income rose to $191.1 million or 61 cents a share, from $164.1 million or 52 cents a share in the prior-year quarter. Revenue increased 0.6% to $1.5 billion. Analysts, on average, expected the company to report earnings of 60 cents a share on revenue of $1.53 billion. Looking ahead, McGraw-Hill said that it now expects 2010 earnings at the low end of its previous guidance range of $2.55 a share to $2.65 a share. Shares of the company fell 1.04% to $30.39 in morning trading.

Kimberly-Clark Corporation (NYSE: KMB) reported Friday that its second-quarter profit increased 24% to $498 million, or $1.20 a share, from $403 million, or 97 cents a share, in the same period a year ago. Revenue rose to $4.86 billion from $4.73 billion. Analysts, on average, expected the company to report earnings of $1.13 a share on revenue of $4.94 billion.

Autoliv Inc. (NYSE: ALV) said Friday that it swung to a second-quarter net profit of $146.5 million, or $1.60 a share, from a loss of $20.7 million, or 24 cents a share, in the year-ago quarter. Revenue jumped 51% to $1.8 billion. Analysts, on average, expected the company to report earnings of $1.35 a share on revenue of $1.7 billion.

Ingersoll-Rand Plc (NYSE: IR) reported Friday its second-quarter net income surged 60% to $196 million, or 58 cents a share, from $122 million, or 38 cents a share, in the year-earlier quarter. Revenue increased 7% to $3.7 billion. Analysts, on average, expected the company to report earnings of 70 cents a share on revenue of $3.65 billion. 

Ashland Inc (NYSE: ASH) reported Friday that its fiscal third-quarter net income nearly tripled to $148 million, or $1.85 a share, from $50 million, or 66 cents a share, in the comparable quarter last year. Revenue grew 16% to $2.36 billion. On an adjusted basis, the company earned $1.22 a share in the latest quarter. Analysts, on average, expected the company to report earnings of $1.11 a share on revenue of $2.29 billion. Ashland shares rallied 2.79% to $50.86 in Friday morning trading.

Dover Corp. (NYSE: DOV) reported that its second quarter net income jumped 75% to $169.9 million, or 90 cents per share, from $97.1 million, or 52 cents a share, in the year-ago quarter. Earnings from continuing operations rose to $171.9 million or $0.91 per share, from $100.9 million or $0.54 per share in the same quarter last year. Revenue climbed 29% to $1.8 billion. Analysts, on average, expected the company to report earnings of 78 cents per share on revenue of $1.66 billion. Looking ahead, the company said that it expects full-year earnings per share in the range of $3.05 and $3.25. Analysts currently expect the company to report earnings of $2.96 per share. In addition, the company said it anticipates full year sales growth in the range of 16% to 18%.

T. Rowe Price Group, Inc. (NASDAQ: TROW) said on Friday that its second-quarter profit rose to $158.5 million, or 59 cents a share, from $100 million, or 38 cents a share, in the corresponding quarter last year. Revenue grew to $577.4 million to $442.2 million. Analysts, on average, expected the company to report earnings of 61 cents per share on revenue of $581.2 million. Shares of the company tumbled as much as 4% in morning trading.

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

 

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