Earnings Roundup For July 21

PepsiCo Inc (NYSE: PEP) reported an 18% rise in its second-quarter profit. PEP's quarterly profit surged to $1.89 billion, or $1.17 per share, from $1.6 billion, or $0.98 per share, in the year-earlier period. Its core earnings surged to $1.21 per share from $1.10 per share. Its revenue climbed to $16.8 billion from $14.8 billion. However, analysts were expecting earnings of $1.21 per share on revenue of $16.36 billion.

Morgan Stanley (NYSE: MS) swung to a loss in its second quarter on Thursday. Morgan Stanley posted a quarterly loss of $558 million, or $0.38 per share, versus a profit of $1.58 billion, or $1.09 per share, in the year-ago period. Its revenue rose to $9.28 billion from $7.96 billion. Analysts were expecting a loss of $0.61 per share on revenue of $8.04 billion.

Goodrich Corp (NYSE: GR) released its results for the second quarter on Thursday. Goodrich's quarterly profit surged to $176.6 million, or $1.38 per share, from $159 million, or $1.24 per share, in the year-ago period. Its sales surged to $2 billion from $1.78 billion. Analysts were expecting earnings of $1.3 per share on sales of $1.95 billion.

AT&T Inc (NYSE: T) reported a 10% drop in its second-quarter net income. The company's earnings fell to $3.59 billion, or $0.60 per share, from $4 billion, or $0.67 per share, in the year-ago period. Its adjusted earnings came in at $0.60 per share. Its revenue rose to $31.5 billion from $30.83 billion. Analysts were expecting earnings of $0.60 per share on revenue of $31.31 billion.

United Continental Holdings Inc (NYSE: UAL) reported a 12% drop in its second-quarter profit. UAL's quarterly profit declined to $538 million, or $1.39 per share, from $611 million, or $1.57 per share, in the year-earlier period. Excluding one-time costs, UAL's earnings came in at $1.49 per share. Its total operating revenue climbed 10% y/y to $9.81 billion from $8.89 billion. Analysts were expecting earnings of $1.46 per share on sales of $9.71 billion.

BB&T Corp (NYSE: BBT) reported a 46% rise in its Q2 net income. BBT's quarterly net income surged to $327 million, from $224 million, in the year-ago period. Its earnings per share rose to $0.44 per share from $0.30 per share. The group's revenue declined 10% to $2.18 billion. Analysts were expecting earnings of $0.43 per share.

Union Pacific Corp (NYSE: UNP) reported a 10% rise in its second-quarter profit. Union Pacific's quarterly profit rose to $785 million, or $1.59 per share, from $711 million, or $1.40 per share, in the year-ago period. Its revenue climbed 16% to $4.86 billion. Analysts were expecting a profit of $1.58 per share on revenue of $4.74 billion. Its operating margin narrowed to 28.7% from 30.6%. Sonoco Products Co (NYSE: SON) reported a 9.4% drop in its second-quarter earnings and lowered its earnings forecast for the year.

Sonoco Products Co (NYSE: SON) reported a 9.4% drop in its second-quarter earnings and lowered its earnings forecast for the year. Sonoco reported its quarterly profit at $53.4 million, or $0.52 per share, down from $59 million, or $0.58 per share, in the year-ago period. Excluding restructuring and other charges, Sonoco's earnings came in at $0.60 per share. The company in April expected earnings of $0.61 to $0.65 per share. Its revenue climbed 12% to $1.13 billion. Sonoco lowered its earnings forecast by $0.06 per share to $2.46 to $2.54 per share. For the current quarter, Sonoco projected earnings of $0.64 to $0.68 per share, versus analysts' estimates of $0.71 per share.

US Airways (NYSE: LCC) reported a decline in its quarterly profit. US Airways reported its Q2 profit at $92 million, or $0.49 per share, down from $279 million, or $1.41 per share, in the year-earlier period. Excluding special items, the airline's earnings came in at $0.56 per share. Its total revenue climbed 10.5% y/y to $3.5 billion from $3.17 billion. Analysts were expecting earnings of $0.61 per share on revenue of $3.51 billion.

Scholastic Corp (NASDAQ: SCHL) reported its Q4 EPS at $0.82, versus the estimates of $0.77. SCHL reported its revenue at $545.8 million, versus the estimates of $520.30 million.

ABB Ltd (NYSE: ABB) reported a 43% rise in its Q2 net profit. ABB's quarterly net profit surged to $893 million, from $623 million, in the year-ago period. Its sales climbed to $9.68 billion from $7.57 billion. However, analysts were expecting a profit of $857 million on sales of $9.19 billion.

Autoliv Inc (NYSE: ALV) reported its Q2 EPS at $1.54, versus the estimates of $1.27. ALV reported its revenue at $2.06 billion, versus the estimates of $1.98 billion.

Danaher Corp (NYSE: DHR) reported a strong rise in its second-quarter profit on Thursday. Danaher's quarterly net earnings surged to $648.8 million, or $0.94 per share, from $372.4 million, or $0.55 per share, in the year-ago period. The company's earnings from continuing operations climbed to $0.65 per share from $0.53 per share. Its adjusted earnings came in at $0.69 per share. Analysts were expecting earnings of $0.67 per share. Its sales from continuing operations jumped 15.5% to $3.7 billion.

ITT Educational Services Inc (NYSE: ESI) reported its Q2 EPS at $2.85, versus the estimates of $2.64. ESI reported its revenue at $387.9 million, versus the estimates of $377.45 million.

Medco Health Solutions Inc (NYSE: MHS) released its results for the second quarter on Thursday. MHS reported its quarterly net income at $342.8 million, or $0.85 per share, down from $356.9 million, or $0.77 per share, in the year-earlier period. Its total sales increased 4% y/y to $17.07 billion, from $16.41 billion. However, analysts were expecting earnings of $0.94 per share on sales of $17.11 billion. MHS projects full-year earnings in the range of $3.59 to $3.69 per share.

Eli Lilly & Co (NYSE: LLY) reported an 11% decline in its second-quarter earnings. LLY's quarterly net income dropped to $1.20 billion, or $1.07 per share, from $1.35 billion, or $1.22 per share, in the year-ago period. Its adjusted earnings dropped to $1.18 per share from $1.24 per share. However, analysts were expecting earnings of $1.19 per share. Its revenue rose 9% to $6.25 billion. LLY projects 2011 earnings between $3.85 and $3.95 per share and adjusted earnings between $4.25 and $4.35 per share. Analysts expect 2011 earnings of $4.29 per share.

Nokia Corp (NYSE: NOK) reported a second-quarter loss on Thursday. Nokia reported a quarterly net loss of 10 euro cents per share, versus a profit of 6 euro cents per share, in the year-ago period. Its adjusted earnings per share dropped to 6 euro cents from 11 euro cents. Nokia posted an operating loss of 487 million euros, versus an operating profit of 295 million euros, in the year-earlier quarter. Its net sales dropped 7% to 9.28 billion euros.

Penn National Gaming Inc (NASDAQ: PENN) reported its Q2 EPS at $0.55, versus the estimates of $0.48. PENN reported its revenue at $687.9 million, versus the estimates of $686.89 million.

Philip Morris International Inc (NYSE: PM) reported a 22% rise in its second-quarter net income. Philip Morris reported its quarterly earnings at $2.41 billion, or $1.35 per share, up from $1.98 billion, or $1.07 per share, in the year-ago quarter. Its adjusted earnings per share came in at $1.34. Philip Morris' revenue surged to $8.27 billion from $7.06 billion. However, analysts were expecting earnings of $1.21 per share on revenue of $7.87 billion. Philip Morris now projects FY11 earnings in a range of $4.70 to $4.80 per share, versus analysts' estimates of $4.64 per share.

L.M. Ericsson AB (NASDAQ: ERIC) reporter a weaker-than-expected Q2 net attributable profit. ERIC's quarterly net profit rose to 3.12 billion Swedish kronors ($488 million), from SEK1.88 billion in the year-ago period. Its net sales surged 14% y/y to SEK54.77 billion from SEK47.97 billion. Analysts were expecting a profit of SEK3.93 billion on sales of SEK54.7 billion.

PPG industries Inc (NYSE: PPG) reported its Q2 EPS at $2.12, versus the estimates of $2.01. PPG reported its revenue at $3.99 billion, versus the estimates of $3.80 billion.