It was a strong day for the Dow Jones Industrial Average, which finished above 23,000 for the first time ever, while gold lost 0.2%. The Dow surged 0.7%, while the S&P 500 Index gained 0.1% and the Nasdaq Composite gained a fraction.
Crown Holdings, Inc. (CCK)
Crown Holdings shares rose after the company’s encouraging quarterly earnings beat.
The company said that it earned $1.32 per share, or $1.41 per share on an adjusted basis for its third quarter, compared to the consensus estimate of $1.41 per share, according to Thomson Reuters. The figure was above the year-ago earnings of $1.33 per share
On the revenue front, Crown Holdings posted sales of $2.47 billion, a 6% increase year-over-year, when it brought in $2.33 billion. Analysts were calling for revenue of $2.4 billion.
For its fourth quarter of fiscal 2017, Crown Holdings predicts it will earn 75 to 80 cents per share, in line with Wall Street’s guidance of 79 cents per share.
CCK stock surged 0.3% after the bell Wednesday.
Kinder Morgan Inc (KMI)
Kinder Morgan posted its quarterly results yesterday.
For its third quarter, the company posted adjusted earnings of 15 cents per share, which was in line with the year-ago earnings of 15 cents per share. Analysts called for earnings of 15 cents per share.
Revenue came in at $3.28 billion for Kinder Morgan, which was below the year-ago revenue of $3.33 billion. Wall Street’s guidance was for revenue of $3.25 billion.
The company reiterated its plan to pay 12.5 cents per share in its quarterly dividend in 2017. The figure will raise to 20 cents per share next year, and the company plans to use its cash in excess of dividend payments to fund growth investments and strengthen its balance sheet.
KMI stock gained 1.6% after hours yesterday.
United Rentals, Inc. (URI)
United Rentals shares also hiked up on the company’s results.
For its third quarter, the company earned $3.25 per diluted share, a massive improvement compared to the $2.58 per share it brought in over the same period last year.
United Rentals’ revenue amounted to $1.76 billion, including rental revenue of $1.53 billion. Total revenue surged more than 17% year-over-year, while rental revenue gained 16%.
Within the rental revenue segment, owned equipment rental revenue popped 15.8%, its Pro forma rental revenue hiked up 8.9% year-over-year, marking a growth of 7.6% in the volume of equipment on rent, while rental rents surged 0.9%.
URI stock grew 2% after the bell Wednesday.
As of this writing, Karl Utermohlen didn’t have a position in any of the aforementioned securities.