Western Union
A 19 percent increase in profits beat analysts’ estimates. Second-quarter net income climbed to $263.2 million, or 41 cents a share, from $221 million, or 33 cents, in the same period last year, the Douglas County-based money-transfer business said Tuesday in a statement.
Earnings adjusted for a restructuring charge were 42 cents, compared with the 38-cent average estimate of 24 analysts surveyed by Bloomberg.
Ford
Second-quarter earnings declined 7 percent, to $2.4 billion, from the period a year earlier, largely because of higher costs for raw materials and new-product development.
But it was the ninth consecutive quarterly profit for Ford, which is to begin contract talks with the United Automobile Workers this week.
The second-quarter profit, equal to 59 cents a share, compares with earnings of $2.6 billion, or 61 cents a share, in the second quarter of 2010. Revenue increased 13 percent to $35.5 billion.
Lockheed Martin
Profit slipped 10 percent in the second quarter as the aerospace and defense contractor dealt with severance-pay matters and increased pension costs.
For the quarter ended June 26, Lockheed reported net income of $742 million, or $2.14 per share, down from $824 million, or $2.22 per share, a year earlier. Revenue rose 2 percent to $11.55 billion.
Eastman Kodak
While surging sales of inkjet printers are helping, the firm said Tuesday that its second-quarter loss widened to $179 million on slumping revenue from digital cameras and film. Its fourth quarterly loss in a row amounted to 67 cents a share in the April-to- June period. It lost $168 million, or 63 cents a share, in last year’s second quarter. Revenue fell 5 percent to $1.49 billion.
United Parcel Service
The sluggish U.S. economy will continue to affect company results this year, but UPS plans to increase earnings by raising prices and improving volume overseas.
In the second quarter, UPS earned $1.06 billion, or $1.07 per share, compared with year-ago earnings of $845 million, or 84 cents per share. Revenue rose 8.1 percent to $13.19 billion.
FirstBank
The Lakewood-based holding company recorded increases in its net income, deposits and loans during the second quarter of 2011.
FirstBank, which operates more than 125 locations in Colorado, Arizona and California, posted net income of $80.2 million, a 9 percent gain from the $73.5 million reported in the second quarter of last year. Deposits increased 8 percent to $10 billion, and loans grew to $4.75 billion from $4.3 billion.
