Consumer stockpiling related to the Covid-19 pandemic boosted quarterly results Thursday for food companies and makers of cleaning products.
Church & Dwight Co.: The consumer-products company posted first-quarter sales and earnings that topped expectations, as the coronavirus pandemic drove a surge in demand for its cleaning and health-care products.
Kellogg Co.: The cereal and snacks company reported better-than-expected adjusted earnings for the first quarter as consumer purchases during the pandemic drove organic sales growth.
Kraft Heinz Co.: The maker of Kraft cheeses, Oscar Mayer cold cuts, Planters nuts and other food products reported higher demand for many of its products in the first quarter as consumers in the U.S. snapped up food to eat at home.
Reckitt Benckiser Group PLC: The Lysol maker reported a surge in first-quarter sales as shoppers stocked up on cleaning products during lockdowns. While the company expects some of that demand to unwind, it also said people are likely to continue to clean more even when they are spending less time at home.
With many people at home due to government lockdowns, demand for air travel evaporated, leaving airlines with lower profits.
Air China Ltd.: The airline slumped to a loss in the first quarter as efforts to curb the coronavirus brought global and domestic travel to a near halt.
American Airlines Group Inc.: The airline lost $2.2 billion in the first quarter as efforts to curb the coronavirus brought global travel to a near halt. The virus has derailed what American had hoped would be a comeback year, after the grounding of Boeing Co.'s 737 MAX stymied growth last year and the airline's operation stumbled amid strife with its mechanics union.
Japan Airlines Co.: JAL said full-year profit slumped after it canceled a number of flights.
China Eastern Airlines Corp.: The airline swung to a net loss in the first quarter as restrictions to contain the spread of Covid-19 hurt demand for business and leisure travel.
Other earnings reported Thursday, at a glance:
1-800-Flowers.com: Revenue in the florist's gourmet foods and gift baskets segment shot up 27% in its fiscal third quarter, the most of the company's divisions.
Altria Group Inc.: The Marlboro maker saw a 13% increase in quarterly revenue but paused the rollout of its new heated tobacco product because of the coronavirus pandemic. The company expects cigarette smokers to trade down to cheaper brands as an economic downturn takes hold.
BASF SE: The German chemicals giant said it expects sales volumes to decline significantly in the second quarter before a slow recovery throughout the rest of the year as the coronavirus pandemic hits the auto industry, its largest customer segment. The company said it won't meet its full year goals and that reliable forecasts are impossible.
Bertelsmann SE & Co. KGaA: The German media, services and education company said revenue for the first quarter of 2020 fell year-over-year as the coronavirus pandemic weighed on business since mid-March. The company said revenue fell 2.1% organically.
Brunswick Corp.: The boat maker said it turned a profit in the latest quarter above analysts expectations despite a lull in manufacturing triggered by the coronavirus pandemic.
Comcast Corp. The owner of the Xfinity broadband and cable-TV business, the NBC broadcast empire, the Universal Pictures movie studio and Universal Studios theme parks signed up more broadband customers last quarter than any time in 12 years, but that growth was more than offset by the coronavirus pandemics impact on vast portions of its business, from movie production to theme parks.
Franklin Resources Inc.: The investment manager known for its Franklin Templeton products reported lower fiscal second-quarter profit and revenue and a drop in assets under management of more than $100 billion from the previous quarter, spurred by diminished investor confidence triggered by the Covid-19 pandemic.
Denso Corp.: The Japanese auto-parts maker said its fiscal-year net profit fell 73% as the Covid-19 pandemic weighed on its fourth-quarter revenue.
Glencore PLC: The mining giant lowered its production guidance across the board due to the coronavirus pandemic after experiencing declines in copper, cobalt and coal output for the first quarter. The Anglo-Swiss commodity trading and mining company said it produced 293,300 metric tons of copper in the first three months of the year compared with 320,700 tons in the year-earlier period.
Hilton Grand Vacations Inc.: The timeshare company said its profit and revenue declined for the first quarter as its resorts and sales centers remained closed amid the Covid-19 pandemic.
Hubbell Inc.: The manufacturer of electrical and electronic products reported a rise in net profit for the first quarter, although disruptions from the coronavirus pandemic reduced earnings per share by 10 cents.
Kellogg Co.: The cereal and snack maker said consumers shopping for packaged foods during the coronavirus pandemic helped drive a key sales metric higher during the first quarter.
Kraft Heinz Co.: The maker of Kraft cheeses, Oscar Mayer cold cuts, Planters nuts and other food products reported higher demand for many of its products in the first quarter as consumers in the U.S. snapped up food to eat at home during the coronavirus pandemic.
LafargeHolcim Ltd.: The Swiss cement maker's first-quarter profit and sales fell as the coronavirus pandemic hit business, with LafargeHolcim forecasting more pain ahead in the second quarter.
Lloyds Banking Group PLC: The U.K.'s largest retail bank reported a significant fall in pretax profit for the first quarter of 2020 due to higher-than-expected impairments and suspended its previous guidance.
McDonald's Corp.: The fast-food giant said dramatic changes in consumer behavior since the coronavirus pandemic hurt its profit and sales.
Meritor Inc.: The U.S. auto-parts maker said second-quarter sales dropped after it halted manufacturing because of the coronavirus pandemic.
Molson Coors Beverage Co.: The maker of Coors and Miller beers said it swung to a loss in the first quarter and said it expects a significant hit to net sales and profit for the year due to the coronavirus pandemic, particularly in the second quarter.
Murata Manufacturing Co.: The Japanese electronics parts maker's fourth-quarter net profit fell 5.9% from a year earlier in part due to a Covid-19 plant suspension and lower sales at its capacitors business.
PTT Exploration & Production PCL: The Thai oil explorer and producer's net profit fell 30% in the first quarter from a year earlier as collapsing oil prices dragged down sales volumes and selling prices for its products.
Royal Dutch Shell PLC: The British-Dutch oil giant cut its quarterly dividend for the first time since World War II as earnings for the period were dragged down by the collapse in oil and gas demand and prices.
Société Générale SA: The French lender said it would cut costs and rework its strategy after bad loan charges tripled in the first quarter and stock-trading revenue was wiped out by coronavirus disruption. Clients traded more in volatile markets, but the transaction fees Société Générale earned on those trades were offset by poor performance in structured products.
Swiss Re AG: The Swiss reinsurer said it swung to a loss in the first quarter of the year due to the impact of coronavirus on the underwriting and investment results. The company said it registered a net loss of $225 million from a profit of $429 million a year earlier, while net premiums earned rose to $9.59 billion from $8.93 billion.
Tempur Sealy International Inc.: The mattress company reported higher earnings and sales in the first quarter, despite material impacts from the coronavirus pandemic.
Tsingtao Brewery Co.: The Chinese brewer reported a 34% decline in its first-quarter net profit, as beer sales were severely impacted due to the Covid-19 pandemic.
Twitter Inc.: The social media company reported its strongest user growth yet as a public company but also swung to a loss for the first time in two years as advertisers tightened their budgets in response to the coronavirus pandemic.
Write to Rose Manzo at email@example.com