Earnings Roundup: ADM, DHI, EMR, MGM, YRCW
Tuesday, August 03, 2021 10:14 AM

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Archer Daniels Midland Co. (NYSE: ADM) on Tuesday posted a better-than-expected fiscal fourth-quarter profit, helped by improving demand and stronger margins in oilseeds and corn processing. Net income urged to $446 million or 69 cents a share, from $58 million or 9 cents a share in the year-earlier quarter. Revenue decreased to $15.7 billion from $16.53 billion. Analysts, on average, expected the company to report earnings of 52 cents per share on revenue of $16.47 billion. ADM shares rose 0.74% to $28.53 in morning trading.

D.R. Horton Inc. (NYSE: DHI) said Tuesday that it swung to a fiscal third-quarter profit of $50.5 million, or 16 cents a share, compared with a loss of $143.8 million, or 45 cents a share, in the comparable quarter last year. Revenue surged 51% to $1.4 billion from $914.1 million. Analysts, on average, expected the company to report earnings of 16 cents per share on revenue of $1.32 billion. Shares of the homebuilder plunged more than 3% in Tuesday morning trading.

MGM Resorts International (NYSE: MGM) reported Tuesday that its second-quarter net loss widened to $883 million, or $2 per share, compared to a loss of $212 million, or 60 cents per share, in the prior-year quarter. Revenue climbed 3% to $1.5 billion.  Analysts, on average, expected the company to post a loss of 24 cents per share on revenue of $1.46 billion. MGM shares slumped more than 3% in morning trading.

Emerson Electric Co. (NYSE: EMR) said Tuesday that its fiscal third-quarter net income climbed to $585 million, or 77 cents per share, from $387 million, or 51 cents per share, in the corresponding quarter last year. Earnings from continuing operations were 78 cents a share. Revenue grew 11% to $5.64 billion from $5.09 billion. Analysts, on average, expected the company to report earnings of 68 cents per share on revenue of $5.57 billion.  

YRC Worldwide Inc. (NASDAQ: YRCW) on Tuesday posted a narrower second-quarter loss of $9.5 million, or 1 cent a share, compared to a loss of $309 million, or $5.20 a share, in the year-earlier period. Revenue declined 8.7% to $1.2 billion. Analysts, on average, expected the company to post a loss of 8 cents per share on revenue of $1.19 billion. Shares of the US trucking company sank as much as 8% in Tuesday morning trading.

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

 

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