3 Interesting Stocks That Just Released Earnings

Archer Daniels Midland Co. (NYSE:ADM) reported its results for the second quarter. Net income for the farm products company fell to $80 million (12 cents per share) vs. $732 million ($1.14 per share) a year earlier. This is a decline of 89.1% from the year earlier quarter. Revenue rose 11.4% to $23.31 billion from the year earlier quarter. ADM reported adjusted net income of 51 cents per share. By that measure, the company fell short of mean estimate of 78 cents per share. Analysts were expecting revenue of $23.1 billion.

“It was a tough quarter,” said ADM Chairman and CEO Patricia Woertz. “The operating environment was challenging. Ongoing weakness in global oilseeds margins, lower results in corn and poor international merchandising results hurt our second quarter profits. “We remain optimistic about the long-term fundamentals of our business and the growing earnings power of our company,” added Woertz. “We continue to execute our plan to drive shareholder value: prioritizing capital projects, implementing productivity measures and returning capital to shareholders through increased dividends and share buybacks.”

Competitors to Watch: Bunge Limited (NYSE:BG), MGP Ingredients, Inc. (NASDAQ:MGPI), Corn Products Intl., Inc. (NYSE:CPO), CHS Inc. (NASDAQ:CHSCP), General Mills, Inc. (NYSE:GIS), SunOpta, Inc. (NASDAQ:STKL), Gruma S.A.B. de C.V. (NYSE:GMK), TreeHouse Foods Inc. (NYSE:THS) and Seaboard Corporation (AMEX:SEB).

Harris Corporation (NYSE:HRS) reported its results for the second quarter. Net income for Harris Corporation fell to $133.1 million ($1.16 per share) vs. $151.1 million ($1.18 per share) a year earlier. This is a decline of 11.9% from the year earlier quarter. Revenue rose 0.5% to $1.45 billion from the year earlier quarter. HRS reported adjusted net income of $1.22 per share. By that measure, the company beat the mean estimate of $1.18 per share. It fell short of the average revenue estimate of $1.51 billion.

“Harris posted solid second quarter results with earnings per share in line with the prior year, despite orders and revenue being dampened by the constrained government spending environment,” said William M. Brown, president and chief executive officer. “The sequential increase in operating income for the company, driven by operating margin improvement in all of our segments, was encouraging. Cash flow from operations increased significantly compared to the previous quarter and the prior year, supporting expectations for strong cash flow again this year.”

Competitors to Watch: ViaSat, Inc. (NASDAQ:VSAT), EMS Technologies, Inc. (NASDAQ:ELMG), Motorola Solutions Inc (NYSE:MSI), Comtech Telecomm. Corp. (NASDAQ:CMTL), ITT Corporation (NYSE:ITT), Globecomm Systems, Inc. (NASDAQ:GCOM), SeaChange International (NASDAQ:SEAC), Avid Technology, Inc. (NASDAQ:AVID), Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC), and Technicolor S.A. (NYSE:TCH).

TYCO International Ltd. (NYSE:TYC) reported its results for the first quarter. Net income for the diversified machinery company fell to $333 million (71 cents per share) vs. $490 million ($1 per share) a year earlier. This is a decline of 32% from the year earlier quarter. Revenue fell 3.9% to $4.21 billion from the year earlier quarter. TYC reported adjusted net income of 84 cents per share. By that measure, the company beat the mean estimate of 79 cents per share. Analysts were expecting revenue of $4.26 billion.

Tyco Chairman and Chief Executive Officer Ed Breen said, “We delivered a strong quarter operationally with continued organic revenue growth supported by improving order activity. The year over year improvement in our operating margin reflects increased volume in our product businesses, a higher mix of service revenue and the benefits of our cost containment and restructuring actions. This helped us deliver another quarter of double digit increases in earnings per share.”

Competitors to Watch: Honeywell Intl. Inc. (NYSE:HON), 3M Company (NYSE:MMM), General Electric Company (NYSE:GE), China Security & Surveillance Tech. Inc. (NYSE:CSR), Checkpoint Systems, Inc. (NYSE:CKP), Magal Security Systems Ltd. (NASDAQ:MAGS), Mace Security Intl., Inc. (MACE), Textron Inc. (NYSE:TXT), and Napco Security Systems (NASDAQ:NSSC).

To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com