Ryder; Conoco Phillips; 3M
Ryder Systems, reported Q1 earnings +9% $56 Million;
as revenue fell 3% to $1.54 billion. The transport company raised its 2008 earnings estimate.
Conoco Phillips, #3 oil co., reported sharp rise in net profit for the first quarter of fiscal 2008,
total revenue +33%, net income +17%; led by higher crude oil prices which more than offset
the lower realized margins from midstream refining activities. CEO Jim Mulva: "we benefited from higher commodity prices.
In the downstream business, our worldwide refining crude oil capacity utilization rate was 89% and we were impacted by significantly lower realized margins.”
The company stated the net income from the refining and marketing segment for the first quarter was $520 million, vs $1.136 billion.
The company attributed lower US refining market cracks and lower volumes as the primary reasons for the decline in net income.
3M; post-it giant, said Q1 net income fell 28% on sales +9% and that a slowing U.S. economy is starting to hurt sales.
Currency translation helped international revenue grow 13%, eight times faster than in the U.S.
Revenue rose at five of the company's six divisions. Display and graphics fell 5.9%.
The company reaffirmed its forecast for 2008 earnings growth of at least 10%.
CEO George Buckley said he "expects U.S. consumer and office markets to slow this quarter and for the rest of 2008".
as revenue fell 3% to $1.54 billion. The transport company raised its 2008 earnings estimate.
Conoco Phillips, #3 oil co., reported sharp rise in net profit for the first quarter of fiscal 2008,
total revenue +33%, net income +17%; led by higher crude oil prices which more than offset
the lower realized margins from midstream refining activities. CEO Jim Mulva: "we benefited from higher commodity prices.
In the downstream business, our worldwide refining crude oil capacity utilization rate was 89% and we were impacted by significantly lower realized margins.”
The company stated the net income from the refining and marketing segment for the first quarter was $520 million, vs $1.136 billion.
The company attributed lower US refining market cracks and lower volumes as the primary reasons for the decline in net income.
3M; post-it giant, said Q1 net income fell 28% on sales +9% and that a slowing U.S. economy is starting to hurt sales.
Currency translation helped international revenue grow 13%, eight times faster than in the U.S.
Revenue rose at five of the company's six divisions. Display and graphics fell 5.9%.
The company reaffirmed its forecast for 2008 earnings growth of at least 10%.
CEO George Buckley said he "expects U.S. consumer and office markets to slow this quarter and for the rest of 2008".
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