The companies that reported earnings before the markets open on Tuesday are: Verizon, Johnson & Johnson, 3M Co., EMC Corp., Corning, DuPont, Kimberly-Clark, Sherwin-Williams, Harley-Davidson and W.W. Grainger.
* Verizon Communications Inc. (NYSE:VZ) reported fourth quarter earnings per share of 93 cents, including 39 cents per share in net non-operational gains, compared with 22 cents in the year-ago quarter, including 28 cents per share in non-operational charges. Operating revenue fell 2.6 percent to $26.39 billion. At Verizon Wireless, total retail and total customer churn levels were 1.37 and 1.34 percent, respectively. The company said it had a total of 94.1 million customers at the end of the fourth quarter. The stock closed Monday's regular trading at $35.24.
* Johnson & Johnson (NYSE:JNJ) said quarterly profit fell 12 percent as recalls of certain over-the-counter medicines hit sales. Net earnings fell to $1.94 billion or 70 cents per share from $2.2 billion or 79 cents a share a year earlier. Excluding items, earnings increased to $1.03 per share from $1.02. Sales fell 5.5 percent to $15.6 billion. JNJ shares ended Monday's regular trading at $62.22.
* 3M Co. (NYSE: MMM) raised its 2011 earnings forecast and reported fourth quarter earnings of $928 million, or $1.28 per share, down from $935 million, or $1.30 per share, in the same period last year. Sales rose 9.6 percent to $6.7 billion, including an 8.6 percent increase in organic volumes. For 2011, 3M lifted its earnings expectation to a range of $5.95 to $6.20 per share from its prior view of $5.90 to $6.10. The company also expects double-digit sales growth in 2011, with organic sales volume growing 5.5 to 7.5 percent. The stock ended Monday's trading at $90.32.
* EMC Corp. (NYSE: EMC) posted a higher quarterly profit on double-digit revenue growth and strong demand for its products. GAAP net income attributable to EMC increased 61 percent to $628.6 million, while earnings per share rose 53 percent to $0.29. Non-GAAP net income attributable to EMC grew 32 percent to $920.1 million and non-GAAP earnings per share rose 27 percent to were $0.42. Consolidated revenue rose 19 percent to $4.9 billion. For 2011, the company expects to achieve solid double-digit revenue and profit growth, expand operating margins and grow free cash flow. Shares of EMC closed Monday's trading at $23.83.
* Corning Inc. (NYSE: GLW) said non-GAAP earnings per share rose 5 percent to 46 cents for the fourth quarter. GAAP earnings were $1.04 billion or 66 cents a share, up from $740 million or 47 cents a share in the year-ago quarter. Net sales rose 15 percent to $1.76 billion, as sales at specialty materials segment soared 79 percent driven by very strong sales in Corning Gorilla Glass and continued strong performance in advanced optics, the company said. The stock ended Monday's trading at $19.64.
* DuPont (NYSE:DD) lifted its 2011 earnings forecast by 15 cents to $3.45 to $3.75 per share as it reported a higher quarterly profit per share of 50 cents, excluding items. Fourth quarter earnings per share were $0.40, compared to $0.48 in the prior year despite a $0.14 per share decline in Pharmaceuticals segment, the company said. Net sales rose 15 percent to $7.4 billion, with particularly strong growth in Electronics & Communications and Performance Chemicals segments, it said. DD shares closed Monday's trading at $48.89.
* Kimberly-Clark (NYSE: KMB) said earnings per share increased to $1.20 in the fourth quarter from $1.17 as net sales rose 2 percent to $5.5 billion on organic sales growth. The company, however, said results were negatively impacted by significant input cost inflation. Kimberly-Clark said it has initiated a two-year pulp and tissue restructuring that is expected to cost $280 to $420 million after tax. As a result of the restructuring, by 2013 annual net sales are expected to decrease by about $250 to $300 million, it said. The stock ended Monday's trading at $63.97.
* Sherwin-Williams Co. (NYSE:SHW) posted fourth quarter earnings of 67 cents a share from 58 cents a year-ago, as sales rose 18.6 percent to $1.9 billion helped by acquisitions. The company said all of its operating segments achieved sales and operating profit growth on a year over year basis in this continuing uncertain environment. For the first quarter, SHW expects earnings per share in the range of $0.48 to $0.58 and net sales to increase in the mid to high teens. Shares of SHW ended Monday's trading at $83.30.
* Harley-Davidson Inc. (NYSE: HOG) reported a fourth quarter loss from continuing operations of $42.1 million, or $0.18 per share, narrower than a loss of $218.7 million or $0.63 per share in the year-ago quarter. Quarterly results included the impact of a one-time, $85.2 million charge from its early repurchase of senior unsecured notes during the quarter. The company said its financial-services unit swung to a profit of $43.5 million. Retail sales of new Harley-Davidson motorcycles in the quarter were nearly level with the year-ago period, decreasing 1.0 percent worldwide and 0.2 percent in the U.S., it said. In the first quarter of 2011, Harley-Davidson expects to ship 51,000 to 56,000 motorcycles. In 2011, the company expects to ship 221,000 to 228,000 motorcycles, about five percent to eight percent increase compared to 2010. HOG stock closed Monday's trading at $36.49.
* W.W. Grainger (NYSE: GWW) said fourth quarter profit increased 36 percent to $132 million and earnings per share rose 44 percent to $1.83. Sales grew 12 percent to $1.8 billion. For 2011, the company reiterated its forecasted sales growth of 5 percent to 9 percent and earnings per share of $7.15 to $7.90. The stock, which ended Monday's trading at $139.16, fell 7.1 percent to $129.17 in pre-market trading on Tuesday.