RTTNews) – Caterpillar Inc. (CAT) released a profit for its first quarter that advanced from last year. The company’s profit came in at $1.53 billion, or $2.77 per share. This compares with $1.09 billion, or $1.98 per share, in last year’s first quarter. The company’s revenue for the quarter rose 11.7% to $11.89 billion from $10.64 billion last year. Caterpillar Inc. earnings at a glance: -Earnings (Q1): $1.53 Bln. vs. $1.09 Bln. last year. -EPS (Q1): $2.77 vs. $1.98 last year. -Revenue (Q1): $11.89 Bln vs. $10.64 Bln last year.
McDonald’s tops expectations with revenue of $5.1B in Q1
(Reuters) – McDonald’s Corp on Thursday smashed Wall Street estimates for comparable sales and returned to pre-pandemic levels of growth as more consumers, flush with stimulus cash, were drawn to its newly launched crispy chicken sandwiches. McDonald’s rolled out its chicken sandwiches, which come in three different flavors, earlier this year in the United States, looking to tap into a frenzy kicked off by privately owned Chick-fil-A and Restaurant Brands’ Popeyes in 2019. U.S. sales at restaurants open for more than a year rose 13.6%, beating expectations of 9.25%, according to analysts polled by Refinitiv IBES data. First-quarter global comparable sales growth of 7.5% also surpassed pre-pandemic 2019 levels, with many countries, including the United States, easing restrictions on dining out, Chief Executive Officer Chris Kempczinski said. Those numbers trounced expectations of a 4.71% growth.
Kraft Heinz net sales reach $6.39B, up 3.9% YoY
The Kraft Heinz Company reported on Thursday that its net sales for the first quarter of the year increased 3.9% compared to the same period last year climbing to $6.39 billion. The company’s net income surged 49% year-on-year reaching $563 million, as its diluted earnings per share rose from $0.31 to $0.46 constituting a per annum increase of 48.4%. Kraft Heinz Chief Executive Officer Miguel Patricio commented on the earings saying: “Our first quarter was better than expected, with our team delivering strong results on top of exceptional growth last year. Looking forward, we will continue to focus on leveraging our tremendous scale by investing to improve our capabilities and overall agility. As we do, we believe we will come out of this period much stronger, operationally and financially, than we entered.” Kraft Heinz shares were up 1.72% in the premarket trade following the positive earnings report.
Mastercard EPS jump 9% to $1.83 in first quarter
Mastercard reported on Thursday its earnings per share increased 9% to $1.83 in the first quarter of 2021 on net income of $1.8 billion. The financial services company also said that its revenue rose 4% to $4.2 billion, above expectations as spending returned to pre-pandemic levels. According to Mastercard CEO Michael Miebach, the company has been “encouraged” by signs of recovery from the health crisis, adding that “we continued to execute against our strategic objectives, as we signed notable new deals and broadened existing relationships with key global partners.”