Xcel Energy Inc.
Colorado’s largest utility reported first-quarter earnings slipped on one-time tax expenses, but the adjusted earnings rose on rate increases and higher electric and gas sales.
Minneapolis-based Xcel reported a profit of $167 million, or 36 cents a diluted share, down from $174 million, or 38 cents a diluted share, a year earlier. Revenue rose 4.2 percent to $2.8 billion.
Earnings excluding the tax charges were 42 cents a share. Analysts polled by Thomson Reuters had expected earnings of 41 cents a share on revenue of $2.8 billion.
Ball Corp.
The Broomfield-based packaging company said first-quarter earnings rose 14 percent, with profit beating analysts’ estimates, as four plants acquired last year contributed to growing sales.
Ball reported a profit of $79.3 million, or 84 cents a share, up from $69.5 million, or 73 cents a share, a year earlier. Excluding items including restructuring costs, earnings were 85 cents a share. Sales increased 7.6 percent to $1.71 billion. Analysts polled by Thomson Reuters had forecast earnings of 74 cents a share.
Eastman Kodak Co.
The photography pioneer said Thursday it posted a $119 million profit in the first quarter in contrast to a large loss a year ago, lifted by ink-jet printer sales and a settlement deal with Samsung Electronics Co. over disputed digital-imaging technology.
In the January-March period, Kodak said it earned the equivalent of 40 cents a share. That compares with a loss of $353 million, or $1.32 a share, a year earlier. Revenue rose to $1.93 billion from $1.48 billion.
Procter & Gamble Co.
The consumer-products giant reported Thursday that its profit fell 1 percent in its third quarter, hurt by charges including from the U.S. health care overhaul. Earnings still exceeded Wall Street expectations.
The maker of Tide detergent and Pampers diapers reported net income of $2.59 billion, or 83 cents per share, for the quarter. That compares with $2.61 billion, or 84 cents a share, a year ago. Sales rose to $19.2 billion.
Motorola Inc.
The cellphone maker posted an unexpected profit in the first quarter as sales of its new phones outdid its forecasts.
Motorola earned $69 million, or 3 cents per share, in the quarter. In the same quarter a year ago, it lost $231 million, or 13 cents per share. Revenue fell 6.1 percent to $5.04 billion.
Time Warner Cable Inc.
The nation’s second-largest cable-TV company said Thursday that first-quarter earnings rose by about 30 percent as it added more Internet, phone and digital-cable-TV customers.
The company earned $214 million, or 60 cents per share, in the first quarter. That compares with a profit of $164 million, or 48 cents per share, in the same quarter a year earlier. Revenue rose more than 5 percent to $4.6 billion.
Safeway Inc.
The grocery chain reported a 33 percent decline in first- quarter profit as it struggled with deflation in key items and competition from rivals that is squeezing sales.
Safeway said Thursday that it earned $96 million, or 25 cents per share, in the quarter. That compares with $144.2 million, or 34 cents per share, in the same period last year. Revenue rose to $9.33 billion.
