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We don’t see a lot on the economic data front this morning — an Existing Home Sales figure hits the tape a half-hour after the opening bell rings today — but that’s fine: we’ve got plenty of Q2 earnings releases to get to. We are in the heart of a so-far very favorable earnings season currently, through the end of July and into the early days of August.
Telecom leader Verizon (VZ - Free Report) beat estimates on both its top and bottom lines this morning, posting $1.20 per share on $32.20 billion in quarterly sales and outpacing the $1.14 per share and $31.72 billion expected. The company, whose rival AT&T (T - Free Report) reports after today’s close, reiterated future guidance for Q3 and full-year 2018. Also, Verizon announced 5G wireless is coming to 3-5 markets by the end of 2018. We’ll compare the AT&T numbers after the bell today. For more on VZ’s earnings, click here.
Milwaukee, WI-based Harley Davidson (HOG - Free Report) , following a maligned Q2 (in news headlines concerning trade tariffs and President Trump, in any case) outperformed estimates on both top and bottom lines this morning. Earnings of $1.45 per share beat consensus by a solid dime, whereas $1.53 billion in sales surpassed the $1.42 billion expected, though down from the $1.58 billion in the year-ago quarter. The company continues to work in stemming the decline in motorcycle sales, but has reiterated its guidance for shipments in full-year 2018, to 231-236K. For more on HOG’s earnings, click here.
The world’s largest publicly traded defense firm, Lockheed Martin (LMT - Free Report) , made quick work of its earnings and revenue estimates ahead of today’s open, posting $4.31 per share on $13.40 billion in sales. These blew out expectations for $3.89 per share and $12.75 billion, respectively. Missiles and Fire Control grew 16.9% year over year, while Aeronautics expanded 8.1% from Q2 2017. For more on LMT’s earnings, click here.
Defense conglomerate and competitor to Lockheed, United Technologies , also reported Q2 results this morning, with $1.97 per share on $16.71 billion in revenues both topping the estimates of $1.85 per share on the bottom line and $16.26 on the top, representing revenue growth of 6% year over year. Its Pratt & Whitney unit gained 16.4% year over year. For more on UTX’s earnings, click here.
Zacks Rank #4 (Sell)-rated 3M Corp. (MMM - Free Report) just met earnings expectations at $1.59 per share. However, revenues came in ahead of the Zacks consensus estimate — $8.39 billion versus the $8.32 billion analysts were looking for. However, the high end of full-year guidance was pulled back a dime to a range of $10.20-10.45 per share. Shares are down more than 3% in early-morning trading. For more on MMM’s earnings, click here.
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Earnings From VZ, HOG, LMT, UTX, MMM
We don’t see a lot on the economic data front this morning — an Existing Home Sales figure hits the tape a half-hour after the opening bell rings today — but that’s fine: we’ve got plenty of Q2 earnings releases to get to. We are in the heart of a so-far very favorable earnings season currently, through the end of July and into the early days of August.
Telecom leader Verizon (VZ - Free Report) beat estimates on both its top and bottom lines this morning, posting $1.20 per share on $32.20 billion in quarterly sales and outpacing the $1.14 per share and $31.72 billion expected. The company, whose rival AT&T (T - Free Report) reports after today’s close, reiterated future guidance for Q3 and full-year 2018. Also, Verizon announced 5G wireless is coming to 3-5 markets by the end of 2018. We’ll compare the AT&T numbers after the bell today. For more on VZ’s earnings, click here.
Milwaukee, WI-based Harley Davidson (HOG - Free Report) , following a maligned Q2 (in news headlines concerning trade tariffs and President Trump, in any case) outperformed estimates on both top and bottom lines this morning. Earnings of $1.45 per share beat consensus by a solid dime, whereas $1.53 billion in sales surpassed the $1.42 billion expected, though down from the $1.58 billion in the year-ago quarter. The company continues to work in stemming the decline in motorcycle sales, but has reiterated its guidance for shipments in full-year 2018, to 231-236K. For more on HOG’s earnings, click here.
The world’s largest publicly traded defense firm, Lockheed Martin (LMT - Free Report) , made quick work of its earnings and revenue estimates ahead of today’s open, posting $4.31 per share on $13.40 billion in sales. These blew out expectations for $3.89 per share and $12.75 billion, respectively. Missiles and Fire Control grew 16.9% year over year, while Aeronautics expanded 8.1% from Q2 2017. For more on LMT’s earnings, click here.
Defense conglomerate and competitor to Lockheed, United Technologies , also reported Q2 results this morning, with $1.97 per share on $16.71 billion in revenues both topping the estimates of $1.85 per share on the bottom line and $16.26 on the top, representing revenue growth of 6% year over year. Its Pratt & Whitney unit gained 16.4% year over year. For more on UTX’s earnings, click here.
Zacks Rank #4 (Sell)-rated 3M Corp. (MMM - Free Report) just met earnings expectations at $1.59 per share. However, revenues came in ahead of the Zacks consensus estimate — $8.39 billion versus the $8.32 billion analysts were looking for. However, the high end of full-year guidance was pulled back a dime to a range of $10.20-10.45 per share. Shares are down more than 3% in early-morning trading. For more on MMM’s earnings, click here.