Exxon Mobil Corporation reported on Friday that its diluted earnings per share (EPS) for the second quarter of fiscal 2021 stood at $1.10, compared to a loss per share of $0.26 from the same timeframe a year ago. The energy company also revealed that its earnings in the second trimester hit $4.69 billion, improving from a $1.08 billion loss documented the year prior, while its total revenues and other income soared 108% year on year to $67.74 billion in the second three-month period of 2021. ExxonMobil “anticipates higher second-half planned spending on key projects, including Guyana, Brazil, Permian and in Chemical [business], with full-year spending towards the lower end of the guidance range of $16 billion to $19 billion.” The company’s stock grew 0.88% in premarket trade following the release of the report.
Colgate reports 12% increase in EPS to $0.83
Colgate-Palmolive Company announced on Friday its earnings per share (EPS) in the second quarter of 2021 rose 12% on the year to $0.83, matching Wall Street expectations. Meanwhile, the company reported better-than-expected revenue for the quarter as net sales increased 9.5% to $4.26 billion. Looking ahead, the company still expects net sales to increase 4% to 7% this year, while organic sales are seen rising between 3% and 5%. “We are pleased that our strong growth momentum continued in the second quarter, even as we operated in an environment marked by significant volatility,” the company’s Chairman, President and Chief Executive Officer Noel Wallace said. Following the announcement, shares of Colgate dipped 0.74% to $82.90in premarket trading.
P&G: Q4 net sales up 7% YoY to $18.9B
The Procter & Gamble Company (P&G) reported on Friday that its net sales for the fourth quarter of 2021 increased 7% year-over-year reaching $18.9 billion. For this trimester, gross profit rose 5% on an annual basis climbing to $9.2 billion, while operating income stood at $3.5 billion. Meanwhile, net earnings were $2.9 billion which is 7% higher compared to last year, and diluted earnings per share (EPS) went from $1.07 last year to $1.13. For the entire fiscal year, net sales also climbed 7% to stand at $76.2 billion. P&G’s yearly gross profit reached $39 billion while its operating income landed at $18 billion, up 9% and 11% respectively from last year. The company’s diluted EPS was $5.50, constituting an 11% annual gain, as its net earnings jumped 10% year-on-year to $14.4 billion. David Taylor, P&G President, commented on the results: “We delivered another year of strong results with balanced top and bottom-line growth and strong cash generation, exceeding each of our in-going targets. We built strong momentum prior to the pandemic and have strengthened our position further.” P&G shares traded 0.73% higher in the premarket trade following the release of the report.
Caterpillar revenue up 29% to $12.9B in Q2
Caterpillar Inc. said on Friday that its sales and revenues for the second quarter of 2021 amounted to $12.9 billion, jumping 29% compared to the same period a year earlier and topping estimates. The company’s earnings per share (EPS) soared 205% year on year to $2.56 and adjusted EPS stood at $2.60. Operating profit margin for the three-month period was 13.9%. “We’re encouraged by higher sales and revenues across all regions and in our three primary segments, which reflect continued improvement in our end markets,” CEO Jim Umpleby stated.
Chevron’s Q2 revenue surges 178% to $37.6B
Chevron Corporation unveiled on Friday that its total revenue for the second quarter of the year reached $37.6 billion, beating analysts’ expectations. This marks a 178% increase when compared to the same period last year. At the same time, the energy company reported that its quarterly adjusted earnings totaled $3.3 billion, skyrocketing from last year’s loss of $2.9 billion. Upstream earnings accounted for $3.2 billion, while downstream earnings landed at $838 million. Chevron’s earnings per share climbed to $1.71. Chevron’s Chairman Mike Wirth stated: “Second quarter earnings were strong, reflecting improved market conditions, combined with transformation benefits and merger synergies. We will resume share repurchases in the third quarter at an expected rate of $2 to $3 billion per year.” Nick Note: Rock on…. Its a hell of a party BUT when its over it really be over…