ITT Corporation Reports Sharp Decline in Q1 Profit (CHD, DUK, ITT)
Church & Dwight Co., Inc. (NYSE:CHD) first quarter net income rose to $95.8 million or $0.66 per share, as against $83.60 million or $0.58 per share in the corresponding quarter last year. Sales increased 7.5% to $690.6 million from $642.3 million in the year-ago quarter. Analysts expected the company to report earnings of $0.61 per share on revenues of $672.96 million for the quarter.
Looking forward, the company reconfirmed fiscal 2012 earnings per share (EPS) to be in the range of $2.41-$2.43 Analysts are expecting the company to report EPS of $2.41 for fiscal 2012. Shares of CHD are up 0.31% to $51.57.
Duke Energy Corporation (NYSE:DUK) first first-quarter earnings plunged 42% as the company took a hefty charge for cost overruns at a coal-gasification plant. The company reported first quarter profit of $295 million, or $0.22 a share, as compared to $511 million, or $0.38 a share in the year ago period. Adjusted earnings totaled $0.38 a share. Revenue was about flat from a year earlier at $3.63 billion. Analysts expected earnings of $0.36 a share on revenue of $3.6 billion.
Going ahead, the company expects first quarter earnings to be in the range of $1.40 to $1.45 per share. Shares of DUK are up about 1 in early trade.
ITT Corporation (NYSE:ITT) first-quarter earnings collapsed 98% on separation costs. The company reported a first quarter profit of $3 million, or $0.03 a share, as compared to $121 million, or $1.31 a share. Excluding breakup costs and other items, earnings from continuing operations fell to $0.39 a share from $0.45 per share. Revenue rose 8.3% to $577 million. Analysts expected a profit of $0.32 a share and revenue of $554 million.
Looking forward, the company expects fiscal 2012 adjusted earnings in the range of $1.62 to $1.72 per share and total revenue to grow 5% to 7%. The Company reported revenue of $2.119 billion in fiscal 2011. Analysts are expecting the company to report revenue of $2.241 billion and EPS of $1.67 for fiscal 2012. Shares of the company rose 2.50% to $22.56.