|Delayed - 06/22 11:35:17 am|
Pandemic Boosts Sales of Lysol, N95 Masks -- Earnings at a Glance
|07/28/2020 | 12:14pm|
The Covid-19 pandemic led to a surge in demand for Reckitt Benckiser Group's Lysol and 3M's N95 masks.
Reckitt Benckiser Group PLC is capitalizing on booming interest in hygiene during the pandemic, launching a new business selling its cleaning products and expertise to the travel and hospitality industries.
For the second-quarter, sales in the British company's hygiene arm rose more than 19% on a like-for-like basis from the year earlier. The gain was driven by North America, where Lysol sales jumped over 70%.
3M Co. suffered a sharp sales drop while many factories, offices and dentists remained closed, offsetting gains from high demand for N95 masks and home-improvement supplies.
The U.S. maker of industrial, safety and consumer products said the global economy appeared to be recovering. Total sales in July were higher than sales through this portion of the month last year, and adjusted sales in China increased 3% in 3M's second quarter, which ended in June.
3M has doubled production of its N95 masks this year to meet skyrocketing demand from health-care workers. 3M said it produced nearly 800 million respirators and N95s -- so-called because they block 95% of very small particles -- in the first half of this year globally and has distributed about half of them in the U.S.
Still, face masks make up a small part of 3M's business, which spans from advanced wound-care products to Scotch tape and industrial sandpaper.
Other earnings reported Tuesday:
Aboitiz Equity Ventures: The Manila-based conglomerate's net profit fell 63% in the second quarter from a year earlier as the pandemic cut into demand for electricity at its power business.
Canon Inc.: The Japanese camera and electronics maker reported an 80% drop in net profit for the first half of the year due to the pandemic's impact on its businesses and a stronger Japanese yen.
Card Factory PLC: The U.K. card, dressing and gift retailer said its sales are exceeding the board's expectations now that all but three of its stores have reopened following the easing of coronavirus restrictions. Continued restrictions will hurt the sales of wedding and party cards, the company said.
Centene Corp.: The company, the biggest U.S. provider of managed Medicaid and ACA plans, said its profit and revenue rose for the second quarter as shelter-in-place measures due to the Covid-19 pandemic led to fewer visits to the doctor for elective care, a boost for the company.
Davide Campari-Milano SpA: The Italian maker of Campari and Aperol said net profit and sales fell in the first half as core markets suffered the effects of coronavirus.
Delivery Hero AG: The German company saw orders in the second quarter almost double to 280.6 million from 144.2 million as the pandemic lockdowns encouraged people to seek food deliveries. "After an initial drop from March until May due to Covid-19, Delivery Hero's order growth is back on track," the company said. "Continuing at this pace, 2020 is set to be the first year in which Delivery Hero will total more than one billion orders on its platforms."
Elementis PLC: The U.K. specialty-chemicals company swung to a loss for the first half of the year, blaming the pandemic for a significantly weak second quarter.
Endesa SA: The Spanish utility company, which is part of Enel SpA, reported net profit and earnings rose in the first half of the year. Endesa said it absorbed the majority of Covid-19-related effects in the first half of the year and it doesn't expect a further significant impact in the second half.
Fanuc Corp.: The world's largest industrial robot maker said its first-quarter net profit fell 61% compared with the same period a year earlier due to a challenging business environment amid the pandemic and strained U.S.-China relations.
Foxtons Group PLC: The London estate agent reported a widened pretax loss for the first half of the year on revenue that fell due to the pandemic lockdowns.
Franklin Resources Inc.: The asset management behind Franklin Templeton said investment-management fees slumped in its latest quarter, a period marked by volatility in markets as the coronavirus shut down economies.
Greggs PLC: The on-the-go food retailer swung to a pretax loss in the first half of 2020 as the pandemic significantly hurt revenue in the period but reported that sales have been recovering post-lockdown.
Harley-Davidson Co.: The company said demand for its motorcycles fell off in the second quarter as consumers pulled back on spending due to coronavirus-related lockdowns that hit many of its key markets.
Hoya Corp.: The Japanese optical products maker said its first-quarter net profit fell 14% due to weaker sales of eyeglasses and medical equipment amid the pandemic.
JetBlue Airways Corp.: The airline said its revenue for the second quarter fell 90%, swinging to a loss, as bookings remained choppy amid the pandemic despite an improvement in demand from April lows.
Kweichow Moutai Co.: The Chinese liquor maker's first-half net profit climbed 13%, supported by a change in its product mix that pushed overall revenue higher. Chinese distilled liquor, or Baijiu, was among the first sectors to recover as China emerged from the coronavirus pandemic in March. Higher sales helped Moutai's first-quarter net profit grow 17%.
Laboratory Corp. of America Holdings: The provider of clinical laboratory and end-to-end drug development services reported second-quarter revenue that came in above analysts' estimates but remains negatively affected by the pandemic.
Lamb Weston Holdings Inc.: The producer and distributor of french fries and other potato products swung to a loss and posted lower sales for the fiscal fourth quarter as shelter-in-place measures due to the pandemic compressed demand for its products, which are often served at restaurants.
Manila Electric Co.: The Philippine utility's first-half net profit fell 43% on lower demand for electricity due to the Covid-19 restrictions.
McDonald's Corp.: The burger giant's profit suffered a deeper-than-expected drop, as the coronavirus shut restaurants around the globe and forced the chain to spend tens of millions of dollars to help keep its franchisees operating.
Moncler SpA: The Milan-listed luxury retailer posted a loss in the first half due to the pandemic.
Moneysupermarket.com Group PLC: The price-comparison website said pretax profit slipped 15% in the first half of 2020 as coronavirus related-disruption led to a fall in revenue, and it expects to face more pressure in the second half.
Nissan Motor Co.: The Japanese auto maker swung to a net loss in its first quarter as the pandemic hit global sales hard.
Peugeot SA: The French car maker's net profit in the first half of 2020 slumped, while revenue fell as the coronavirus pandemic dealt a heavy blow to the global auto industry. Peugeot expects the automotive market in Europe to contract by 25% in 2020, with 30% in Russia and Latin America, and 10% in China.
Pfizer Inc.: The pharmaceutical company reported growth in its biopharma division in the latest quarter, but overall sales fell amid increased competition in its generic-drug business.
Raytheon Technologies Corp.: The newly merged aerospace company reported a loss for the second quarter as it booked impairment charges, though sales rose 24%.
Sabre Insurance Group PLC: The U.K. motor-insurance underwriter reported a fall in pretax profit for the first half of the year and said gross written premiums decreased as a consequence of coronavirus restrictions.
Samsung Electro-Mechanics Co.: The South Korean electronics-parts supplier's second-quarter net profit slumped 85% from a year earlier due to lower prices of multilayer ceramic capacitors and weaker demand for mobile devices amid the pandemic.
Samsung SDI Co.: The South Korean battery maker's second-quarter net profit plunged 70% compared with the same period a year earlier largely due to weaker demand for its products because of the pandemic.
SJM Holdings Ltd.: The Hong Kong-based casino operator swung to a loss in the first half as travel restrictions during the Covid-19 pandemic disrupted operations.
St. James's Place PLC: The FTSE 100 wealth-management business posted a significant rise in net profit for the first half, with the business remaining resilient amid the coronavirus pandemic, and expects 2020 will be a year of major net inflows.
Travis Perkins PLC: The U.K. building-materials retailer said its revenue and like-for-like sales fell in the first half of the year in the wake of the coronavirus pandemic, but sales improved as lockdown restrictions eased.
Trifast PLC: The U.K. engineering-and-manufacturing company said the pandemic had a significant impact in the latter part of fiscal 2020 and into the first quarter of fiscal 2021, but that it returned to underlying profitability in June.
Tyman PLC: The London-listed supplier of engineered components and access solutions to the construction industry said that pretax profit for the first half of 2020 rose after booking lower costs and that it wasn't declaring an interim dividend due to uncertainty stemming from the coronavirus pandemic.
UltraTech Cement Ltd.: The company's first-quarter net profit fell 38% from a year earlier, as Covid-19 restrictions hurt the company's business performance.
Vivo Energy PLC: The pan-African retailer and marketer of fuels and lubricants reported significantly lower profit for the first half of the year as restrictions in response to the pandemic hit the company's volumes and margins. The group said it is encouraged by improved trading in June and July but remains cautious about the coronavirus and refused to give any guidance for the rest of 2020.
Xerox Holdings Corp.: The provider of office document machines reported a better-than-expected profit for the latest quarter while revenue fell 35% as the pandemic continued in the U.S.
Write to Rose Manzo at firstname.lastname@example.org