US corporate results round-up

Boeing’s profit beats expectations
BOEING posted a higher-than-expected quarterly profit yesterday, helped by an increase in commercial airplane deliveries, and the world’s largest aerospace and defence company raised its earnings forecast for the year.

Boeing’s first-quarter net profit rose to $923m from $586m a year earlier. Earnings were $1.11 per share, beating the average estimate of 94 cents.

Caterpillar boosted by mining division
CATERPILLAR reported a 29 per cent rise in first-quarter profit yesterday as the firm relied on its growing mining business and sales to US buyers looking to replace equipment.

Caterpillar said net earnings were $1.6bn, or $2.37 per share, compared with $1.2bn, or $1.84 per share, a year earlier. It said the first-quarter EPS figure was its highest on record.

Delta and US Airways hit by fuel hikes

TWO major US airlines, US Airways and Delta, reported operating losses for the first quarter yesterday as fuel costs increased, but both said there was solid demand ahead of the summer season.

US Airways Group, which saw a smaller loss than estimates, cited “overall strength in passenger demand”.

Delta Air Lines said it expects profits for the full year despite higher fuel prices.

Harley bullish as US sales increase
HARLEY DAVIDSON reported a stronger-than-expected rise in quarterly profit yesterday, saying the US economy is on the mend, young customers are embracing its brand and it will ship more motorcycles this year than it had expected in January.

Net earnings rose to $172m, or 74 cents per share, from $119m, or 51 cents per share, a year earlier.

Dr Pepper misses Wall St estimates
DR Pepper Snapple Group posted a lower quarterly profit that missed Wall Street estimates yesterday as higher commodity costs hurt margins, but the soft drinks maker stood by its full-year targets.

The maker of Sunkist and 7UP sodas, as well as its namesake beverages, earned $102m, or 48 cents a share, for the first quarter, down from $114m or 50 cents a share, a year earlier.

Sprint Nextel sees losses narrow
SPRINT Nextel posted a quarterly loss yesterday that was narrower than many on Wall Street expected as its wireless operating income was boosted by weaker-than-expected subscriber numbers, which helped saved money. Sprint, the third-largest US mobile service provider posted a loss of $863m, or 29 cents per share, compared with a loss of $439m, or 15 cents per share, in the year-ago quarter.