Newmont Mining
Third-quarter profit more than doubled as it sold gold and copper at higher prices and cut costs.
The Denver-based mining giant said net income totaled $388 million, or 79 cents a share, compared with $191 million, or 42 cents per share, in the third quarter of 2008. Revenue for the three months that ended Sept. 30 jumped 50 percent to $2.05 billion, with copper sales more than quadrupling and gold sales rising steadily.
Newmont said it sold 1.3 million ounces of gold at an average price of $964 per ounce and 64 million pounds of copper at an average price of $2.80 per pound.
Ball Corp.
Third-quarter earnings rose 1.8 percent amid cost cuts and improved operating performance.
The Broomfield-based plastic and metal packaging company also said that despite acquisition costs and the economic downturn, it expects fourth-quarter results from continuing operations “will be well above those of the same period last year.”
Ball reported earnings of $103.7 million, or $1.09 a share, up from $101.9 million, or $1.05 a share, a year earlier. Excluding acquisition and restructuring costs, earnings rose to $1.24 a share from $1.13. Analysts surveyed by Thomson Reuters had most recently forecast earnings of $1.17 a share. Sales slid 2 percent to $1.97 billion.
Exxon Mobil
A 68 percent decline in third-quarter earnings prompted the oil giant to reduce its 2009 capital-spending outlook. Major oil companies have seen their profits fall as oil prices collapsed from an all-time high over $147 a barrel last year.
Exxon Mobil reported a profit of $4.73 billion, or 98 cents a share, down from $14.83 billion, or $2.85 a share, a year earlier. The prior year included a net $1.45 billion in gains. Revenue fell 40.3 percent to $82.3 billion. Analysts had forecast earnings of $1.03 a share.
Procter & Gamble
Budget-conscious consumers around the globe responded to price cuts and new products that promise to give them more for their money.
The world’s largest consumer-products company reported better-than- expected first-quarter results Thursday and forecast a better outlook after a year of households cutting spending and trading down to cheaper brands.
The maker of Tide and Pampers reported profits were up 1 percent at $3.35 billion, or 1.06 per share, compared with $3.31 billion, or $1.03 per share, a year ago. Sales fell 6 percent to $19.8 billion. Analysts expected earnings of 99 cents a share.
Colgate-Palmolive
The maker of toothpaste, dish soap and Ajax cleanser said Thursday that it earned $590 million, or $1.12 per share, in the quarter that ended in September. A year ago, Colgate earned $500 million, or 94 cents per share. Revenue rose to $4 billion. Analysts polled by Thomson Reuters expected $1.11 per share.
Eastman Kodak
The photography pioneer lost money for a fourth straight quarter and missed Wall Street expectations but struck a more confident note Thursday that its photography and printing businesses are rebounding.
Kodak recorded a loss of $111 million, or 41 cents per share, in the third quarter, compared with a profit of $101 million, or 35 cents per share, a year earlier. By comparison, Kodak lost $189 million in the second quarter and $353 million in the first quarter. Sales tumbled 26 percent, to $1.78 billion.
