Newmont Mining Corp. The world’s largest producer of gold said third-quarter profits fell 2.3 percent on higher costs and lower output from mines in Nevada, Australia and Uzbekistan. Denver-based Newmont, heading for a third straight annual decline in gold output, said Wednesday in a statement that third-quarter net income fell to $126 million, or 28 cents a share, from $129 million, or 29 cents, a year earlier. Earnings before one-time items matched the average estimate of analysts. Revenue rose 1.7 percent to $1.16 billion. Output dropped 6.8 percent in the quarter, eroding the benefit of rising prices and demand from jewelers.
Xcel Energy Inc. The owner of utilities in Colorado and Minneapolis said third-quarter profits rose 19 percent as warmer weather increased air-conditioning demand. Profit from continuing operations rose $197.8 million, or 47 cents a share, from $165.7 million, or 40 cents, a year earlier, Minneapolis-based Xcel said Wednesday in a statement. Sales climbed 16 percent to $2.29 billion. The company was expected to earn 44 cents, the average estimate of eight analysts surveyed by Thomson Financial.
Lockheed Martin Corp. The world’s largest defense contractor said third-quarter earnings climbed 39 percent, lifted by higher sales of government computer services and deliveries of C-130J transport aircraft. Net income rose to $427 million, or 96 cents a share, from $307 million, or 69 cents, a year earlier, Lockheed said in a statement Tuesday. Profits topped analysts’ expectations.
