Earnings Roundup

KeyCorp KEY reporetd a 32% drop in its first-quarter profit. KeyCorp's quarterly profit fell to $200 million, from a year-ago profit of $263 million. Its per-share profit rose to $0.20, from $0.19. Total revenue climbed 5.5% to $1.03 billion. Analysts were expecting a profit of $0.19 per share on revenue of $1 billion. Morgan Stanley MS reported a first-quarter loss. Morgan Stanley posted a quarterly loss from continuing operations at $103 million. Its revenue dropped to $6.9 billion, from $7.6 billion. Excluding charges, Morgan Stanley's revenue surged to $8.9 billion from $7.8 billion. Analysts were expecting revenue of $7.31 billion. Morgan Stanley's earnings per share excluding the charges came in at $0.71 per share, versus analysts' estimates of $0.44 per share. Bank of America Corp BAC reported a drop in its first quarter profit. Bank of America reported its quaretrly profit at $653 million, versus a year-ago profit of $2.05 billion. Its per-share earnings dropped to $0.03 from $0.17. Its total revenue fell 17% to $22.28 billion. Laboratory Corporation of America Holdings LH reported a stronger-than-expected first-quarter profit. LabCorp's quarterly net income rose to $161.6 million, or $1.63 per share, from $127.1 million, or $1.23 per share, in the year-ago period. Excluding items, LabCorp earned $1.74 per share. LabCorp's revenue climbed 4% to $1.42 billion. Its medical testing services volumes gained 2.8%, while revenue per test climbed 1.2%. Analysts were expecting earnings of $1.67 per share on revenue of $1.4 billion. DuPont Co DD reported a 4% rise in its first-quarter net income. DuPont's quarterly net income climbed to $1.49 billion, or $1.57 per share, from $1.43 billion, or $1.52 per share, in the year-ago quarter. Its sales rose to $11.23 billion from $10.03 billion. However, analysts were expecting a profit of $1.55 per share on sales of $11.21 billion. UnitedHealth Group Inc UNH reported a rise in its first-quarter profit, and lifted its full-year earnings forecast. UnitedHealth's quarterly net income surged to $1.39 billion, or $1.31 per share, versus $1.35 billion, or $1.22 per share, in the year-ago period. Its revenue rose 7% to $27.28 billion. However, analysts were expecting earnings of $1.16 per share on revenue of $27.01 billion. First Horizon National Corp FHN posted a drop in its first-quarter profit. First Horizon lifted its share buyback program to $200 million. It also approved a quarterly cash dividend of $0.01 per share. First Horizon's quarterly net income available to the shareholders fell to $30.5 million, or $0.12 per share, from $40.2 million, or $0.15 per share, in the year-ago period. However, analysts were expecting earnings of $0.13 per share. Southwest Airlines Co LUV posted a first-quarter profit on Thursday. Southwest Airlines posted its quarterly net income at $98 million, or $0.13 per share, up from $5 million, or $0.01 per share, in the year-ago epriod. Excluding items, Southwest Airlines posted a loss of $0.02 per share. Southwest Airlines' revenue climbed 29% to around $4 billion. Its operating expenses surged 27%. The Travelers Companies Inc TRV reported a drop in its first-quarter earnings. Travelers' quarterly earnings fell to $806 million, or $2.02 per share, from $839 million, or $1.92 per share, in the year-ago period. Its revenue rose to $5.50 billion, from $5.44 billion. Number of shares outstanding fell to 389.8 million, from 420.3 million. Analysts were expecting earnings of $1.53 per share. EMC Corp EMC reported a rise in its first-quarter profit. EMC's quarterly net income attributable to shareholders climbed 23% to $586.8 million, or $0.27 per share. Excluding items, EMC earned $0.37 per share. EMC's consolidated revenue climbed to $5.09 billion. Rockwell Collins COL reported its Q2 EPS at $1.09 on revenue of $1.16 billion. However, analysts were expecting earnings of $1.09 per share on revenue of $1.18 billion. Fifth Third Bancorp FITB reported a rise in its first-quarter net income. Fifth Third posted a quarterly net income available to common shareholders of $421 million, or $0.45 per share, versus $88 million, or $0.10 per share, in the year-earlier period. However, analysts were expecting earnings of $0.37 per share. Baxter International Inc BAX reported its Q1 EPS at $1.01 on revenue of $3.4 billion. However, analysts were expecting earnings of $1 per share on revenue of $3.30 billion. Layne Christensen Co LAYN posted a loss in the fourth quarter. Layne Christensen posted a quarterly net loss of $88.5 million, or $4.55 per share, versus a year-ago net income of $8.8 million, or $0.45 per share. Its revenue climbed 1.5% to $275.8 million. Excluding items, Layne Christensen posted a loss of $0.20 per share. Alaska Air Group Inc ALK reported a 45% drop in its first-quarter profit. Alaska Air's quarterly profit fell to $40.8 million, or $0.56 per share, versus a year-ago profit of $74.2 million, or $1.01 per share. Excluding special items, Alaska Air earned $0.39 per share, versus analysts' estimates of $0.35 per share. Its total operating revenue surged 7.7% to $1.04 billion. Verizon Communications Inc VZ reported its Q1 EPS at $0.59 on revenue of $28.2 billion. However, analysts were expecting earnings of $0.57 per share on revenue of $28.19 billion. Nokia Corp NOK reported a first-quarter loss. Nokia posted a net loss of €929 million ($1.2 billion), versus a year-ago profit of €344 million. Its revenue dropped to €7.4 billion from €10.4 billion. Nokia reported a quarterly loss of 0.08 euros per share. However, analysts were expecting a loss of 0.07 euros per share. Diamond Offshore Drilling Inc DO reported a better-than-expected first-quarter profit and declared a special quarterly cash dividend. Diamond Offshore's quarterly net income dropped to $185.2 million, or $1.33 per share, versus $250.6 million, or $1.80 per share, in the year-earlier period. However, analysts were expecting a profit of $0.99 per share. Its revenue fell 5% to $768.6 million. Philip Morris International PM reported its Q1 EPS at $1.25 on revenue of $7.4 billion. However, analysts were expecting earnings of $1.19 per share on revenue of $7.27 billion. BB&T Corp BBT reported a better-than-expected first-quarter profit. BB&T lifted its quarterly dividend by 25% to $0.20 per share. BB&T posted its quarterly net income available to common shareholders at $431 million, or $0.61 per share, up from $225 million, or $0.32 per share, in the year-ago period. However, analysts were expecting a net income of $0.59 per share. Its revenue climbed to $2.4 billion. Danaher Corp DHR reported a rise in its first-quarter profit. Danaher's quarterly profit climbed to $612.9 million, or $0.86 per share, from $429.8 million, or $0.63 per share, in the year-ago period. Its earnings from continued operations came in at $0.73 per share. However, analysts were expecting a profit of $0.71 per share. Danaher's sales surged to $4.32 billion, from $3.29 billion, in the year-ago period.