The Dow Jones Industrial Average (DJIA) was paring gains on Friday and was last seen up 22 points, or 0.1%, to 18,004. As the earnings season is on and for the Dow it’s proving to be quite an intense season with varied earnings performances by blue chips. Lets’ shed some light on few Dow Jones earnings performers of the day.
By looking over recent results, it seems like McLovin’ is still loved by people visiting McDonald’s Corporation (NYSE:MCD) for all-day breakfast. The world’s biggest fast-food chain declared its first-quarter earnings of $1.23 per share, easily surpassing the consensus forecasts of $1.16. It logged the second consecutive great earnings topped by McDonald’s as it has picked sales pace with the launch last fall of whole day breakfast fall and with executives trying to lower costs.
Overall revenue had a surge of 3% on annual basis to $5.9 billion; experts’ forecasts were $5.82 billion. Shares jumped up in premarket session on Friday after the news. Without any doubt, McDonald’s performance in the home country– where it handles above 14,000 restaurants – gained the most in the quarter. Comparable-store sales jumped up 5.4% thanks to interest in whole-day breakfast and the firm’s latest “McPick 2” value menu that released earlier this year.
Another Dow component, Caterpillar Inc. (NYSE:CAT) shares on Friday were declining almost 0.8% after the company sliced its 2016 sales and earnings guidance and reported a sluggish first-quarter net profit as revenues declined in the company’s construction, oil and gas, mining and rail business units. The firm reported that it predicts 2016 sales in between $40 billion to $42 billion range as compared to a formerly forecasted $40 billion to $44 billion. Caterpillar now predicts 2016 earnings per share at $3.00, or $3.70 per share omitting restructuring costs. The former estimation was $3.50 per share, or $4.00 per share omitting restructuring costs. The world’s biggest heavy machinery maker declared a net income of $494 million, or 67 cents apiece in the initial quarter, lower as compared to a revised $1.70 billion, or $2.07 a share, a year earlier. Experts had predicted earnings per share of 68 cents.
Finally on the earnings front was the blue chip conglomerate General Electric Co. (NYSE:GE) which declared a slight decline in its chief quarterly profit as the firm persists to lower its load from its finance and capital segments. The firm reported $1.93 billion, or 21 cents apiece, lower almost 2 percent from $1.97 billion, or 20 cents apiece, a year ago same quarter. The results consists of only the industrial segments. The Fairfield, Connecticut-located firm has been detaching its financial and capital divisions over the past few years in an attempt to reduce and refocus on its major businesses. Generally for the quarter, the firm shed $98 million, or 1 cent apiece, consisting of costs linked with its financial division.