Earnings roundup: DuPont, Regions Financial

Earnings roundup: DuPont sales drop, but cost cuts boost profit; Regions Financial posts loss

• By The Associated Press
• On 2:25 pm EDT, Tuesday October 20, 2009

Among the earnings stories for Tuesday, Oct. 20, from AP Financial News:

DuPont offset falling sales and prices using cost cuts and reported larger third-quarter profit.

Regions Financial Corp. reported a third-quarter loss that was deeper than Wall Street expected, as soured commercial real estate loans offset growth in retail accounts and deposits.

Cash transfer company Western Union Co. said third-quarter profit sank 25 percent as it set aside cash in preparation for a legal settlement.

The economic downturn and a resulting drop in sales led Pentair Inc. to report a 13 percent decline in third-quarter profit and reduce its full-year forecast.

Parker Hannifin Corp. said its fiscal first-quarter profit tumbled 71 percent, citing lower sales stemming from the global recession.

Another dive in ad revenue knocked down shares of Journal Communications Inc., parent company of the Milwaukee Journal Sentinel, despite a profitable third quarter.