FirstBank
The Lakewood-based holding company said net income for the first nine months was $111.3 million, up from $109.9 million last year. Earnings per share were $864, and return on average shareholder equity was 19.1 percent.
FirstBank had total assets of $10.4 billion, up 6 percent compared with the same period last year. Deposits were $9.35 billion, an increase of 5 percent.
Valero Energy
Third-quarter profit reversed a loss in the same period last year, thanks to a double-digit boost in revenue. Valero earned $292 million, or 51 cents a share, for the three months ended Sept. 30. That compares with a loss of $629 million, or $1.12 a share, in the same period last year. Earnings exceeded expectations.
U.S. Steel
The manufacturing giant said Tuesday that it is still losing money because of weak demand for its products during the uneven global economic recovery. It doesn’t expect much improvement by year-end.
U.S. Steel reported a third-quarter loss of $51 million. The quarterly loss was 35 cents a share. A year ago, U.S. Steel had a loss of $303 million, or $2.11 a share.
Bristol-Myers Squibb
A slight decline in third-quarter profit came as its restrained spending was offset by flat sales of its drugs, lower income from its partners and bigger discounts to government because of the health care overhaul.
Bristol-Myers reported third- quarter net income of $949 million, or 55 cents a share. That’s down nearly 2 percent from $966 million, or 48 cents a share, in the year-ago quarter.
Kimberly-Clark
Third-quarter net income fell 19 percent as making its top-selling tissues and diapers got more expensive, and the company cut its forecast for the full year. The results fell short of analysts’ expectations.
Overall for the quarter that ended Sept. 30, the company earned $469 million, or $1.14 a share, down from $582 million, or $1.40 a share, a year earlier.
Revenue rose 1 percent to $5 billion.
