(Reuters) – 3M Co (MMM.N: Quote, Profile, Research, Stock Buzz) posted higher quarterly profit on Thursday that topped Wall Street’s estimate, reporting improved performance across its business segments but narrowing its full-year financial targets as it pointed to bigger currency impacts.
Sales from the diversified manufacturing company, excluding the impact of foreign currency translation, rose 3.9 percent. Such organic sales growth, closely watched by Wall Street, slowed from the second-quarter but was ahead of the expectation of some analysts.
(Reuters) – United Technologies Corp (UTX.N: Quote, Profile, Research, Stock Buzz) on Tuesday posted a rise in quarterly profit, helped by a tax settlement and revenue increases across its aerospace and commercial building segments.
The diversified maker of Pratt & Whitney jet engines and Otis elevators said third-quarter revenue rose 4.6 percent, while orders increased across its main business segments.
Oct 20 (Reuters) – The shaky global economy already has
pressured shares of diversified U.S. manufacturers, and many of
these industrial companies face another worry: the drop in oil
The concern for these manufacturers is that oil and gas
customers will reduce their capital spending because of fears of
a lack of return with energy prices low.
(Reuters) – A commercial jet manufacturing boom is fueling suppliers’ profits, with U.S. corporate results on Friday underscoring strong demand from the aviation industry in a rocky global economy.
The latest earnings may steady investor confidence in manufacturers exposed to the sector, offsetting concern about other markets such as energy as well as general worry about stagnating growth outside the United States.
(Reuters) – General Electric Co (GE.N: Quote, Profile, Research, Stock Buzz) reported a slightly higher-than-expected quarterly profit on Friday, as cost cuts that helped boost margins across its industrial businesses offset revenue that fell below analysts’ targets.
Shares of GE rose 4 percent to $25.21 in premarket trading.
The U.S. conglomerate posted a 4 percent rise in organic revenue, which excludes acquisitions, for its industrial manufacturing businesses, on which Chief Executive Officer Jeff Immelt is increasingly focusing the company.
(Reuters) – Investors who have endured a four-month selloff in shares of large U.S. manufacturers will be looking for solid revenue growth and order trends in third-quarter earnings reports starting on Friday to help allay fears that a soft global economy will derail the outlook for diverse industrial names.
Concerns over weak economic growth in Europe and stagnation in emerging markets have dented shares of these large industrial companies, which depend on sales outside of the United States, according to portfolio managers and analysts who follow the stocks.
NEW YORK(Reuters) – General Electric Co (GE.N: Quote, Profile, Research, Stock Buzz) said on Thursday it was on track to generate more than $1 billion in revenue this year from its industrial data-analysis business, and plans to make its software platform broadly available next year.
GE is making a big bet on what it calls the “Industrial Internet,” in which the company harnesses data from large industrial machines, such as power-generating turbines and jet engines, to yield productivity, efficiency and other improvements for customers.
Oct 6 (Reuters) – General Electric Co on Monday named
its top deal-making executive as head of its healthcare
business, saying that the unit’s prior chief is leaving the
The shakeup atop one of the company’s largest businesses is
the latest high-level management change at GE, as Chief
Executive Officer Jeff Immelt seeks increasingly to reshape the
U.S. conglomerate around industrial manufacturing and simplify
the sprawling company’s operations.
Oct 2 (Reuters) – United Technologies Corp’s Pratt &
Whitney unit on Thursday named a new head of its commercial
engines division in the midst of a crucial launch of a
commercial jet engine.
Pratt appointed Gregory Gernhardt as president of Pratt &
Whitney Commercial Engines, effective immediately. He replaces
David Brantner, who was named to the commercial engine
leadership post in June 2013.
Oct 1 (Reuters) – General Electric Co has agreed to
conduct a study of shoreline contamination of New York’s Hudson
River, the company’s latest step in an extensive clean-up effort
of toxic chemicals it dumped into the waterway decades ago.
The study will cost GE an estimated $20.5 million, according
to the U.S. Environmental Protection Agency, which announced the
agreement on Wednesday. It will evaluate floodplains in a
40-mile stretch of the upper Hudson River, and will develop