Anadarko Petroleum
One of the nation’s largest independent oil-exploration and production companies on Monday joined a parade of energy producers reporting vastly improved first-quarter results thanks to higher oil prices.
The company’s earnings release did not mention the Gulf of Mexico oil spill, which occurred as a result of a rig explosion April 20. Anadarko has a 25 percent nonoperating stake in the rig while BP operated the rig with a majority interest.
For the first quarter, Anadarko had net income of $716 million, or $1.43 a share, which compared with a loss of $338 million, or 73 cents a share, a year ago. The most recent results included one-time items that boosted net income by about $304 million, or 62 cents a share. Revenue rose to $3.14 billion from $1.79 billion a year ago.
GMAC Financial Services
The company that is rebranding itself Ally Financial posted its first quarterly profit in more than a year.
The switch to the Ally Financial name, which takes effect May 10, reflects the recent strength of Ally Bank, its consumer banking unit.
GMAC reported first-quarter earnings of $162 million, compared with a year-ago loss of $675 million, as its mortgage unit swung to a pretax profit and its core automotive business posted its fifth straight profitable quarter. Revenue rose 7 percent to $1.86 billion.
Clorox
Fiscal third-quarter earnings rose 7.8 percent as it sold more of its disinfecting wipes and Hidden Valley salad dressings, though Venezuela’s currency devaluation this year weighed on the top line.
For the quarter ended March 31, Clorox reported a profit of $165 million, or $1.16 a share, up from $153 million, or $1.08 a share, a year earlier. Revenue rose 1 percent to $1.37 billion.
