Companies discuss financial results

Navistar International Corp.

Sept. 6

Announced a voluntary separation program and a reduction in force of its salaried workforce on lower sales. Actions anticipated to generate $70 to $80 million in annual savings, to contribute to Navistar’s overall goal to reduce costs by $150 to $175 million year-over-year, starting in fiscal year 2013.

“Clearly we are not pleased with these results.” — Lewis Campbell, chairman and interim CEO, third quarter earnings release

Thor Industries Inc.

Sept. 26

“Thor delivered record annual revenue and improving results in the fourth quarter and 2012 fiscal year, driven by a growing RV market and continuing solid bus market. Assuming stable macroeconomic conditions, we anticipate continuing increases in both of our industries through the remainder of calendar 2012 and into 2013, fueled by growth in RV retail sales, right-sized RV dealer inventories and demand for replacement buses.” — Peter Orthwein, chairman and CEO, fiscal fourth quarter earnings release

Caterpillar Inc.

Oct. 22

“We are taking a pragmatic view of 2013—we’re not expecting rapid growth, and we’re not predicting a global recession. At this point, we expect 2013 sales will be similar overall to 2012, but with a slightly weaker first half and a slightly better second half.” — Doug Oberhelman, chairman and CEO, third quarter earnings release

Whirlpool Corp.

Oct. 23

“We have delivered three consecutive quarters of year-over-year operating margin improvement this year driven by the actions we outlined last October. Our ongoing business performance should continue to improve due to our strong cadence of new product innovations, the benefit of our cost savings programs and positive trends in U.S. housing.” — Jeff Fettig, chairman and CEO, third quarter earnings release

Konecranes Plc

Oct. 24

“Macroeconomic uncertainties have increased and there are more signs of a weakening global demand due to the continuing crisis within the Eurozone and slower economic growth in some emerging markets. This is taking its toll on new inquiries.” — Third quarter earnings release

Honda Motor Co.

Oct. 29

Honda revised its fiscal year 2013 forecast for consolidated operating income from the previously announced 620 billion yen to 520 billion yen “factoring in the impact of the recent situation in China, a decline in sales in Europe and South America due to changes in the business environment, and the unfavorable currency effects due to depreciation of local currencies in some emerging countries.” — fiscal second quarter earnings release

Companies discuss financial results

The Kroger Co.

Sept. 7

“Our experience through the first half of this year is that the external environment has been a little better than in 2011. We continue to monitor changes in gas prices and inflation, and as the headlines continually remind us, macroeconomic issues will continue to affect consumer sentiment throughout the year. We are confident in our ability to make tactical adjustments as needed to successfully navigate these factors while continuing to deliver on our Customer 1st strategy.” — Mike Schlotman, senior vice president and CFO, Q2 earnings call

Frisch’s Restaurants Inc.

Oct. 22

“Our first quarter showed mixed results as lower customer counts adversely affected same store sales while our food costs as a percentage of sales dropped 80 basis points from the prior year resulting in improved profitability. The family dining segment of the restaurant industry continues to struggle with declining customer counts as the U.S economy continues to languish.” — Craig Maier, president and CEO, fiscal quarter earnings release

Procter & Gamble

Oct. 25

“We continue to be encouraged by our overall results and the strength of the business…The biggest challenge we face is the significant increase in commodity costs, which has held back operating profit growth.

One question concerns our ability to maintain top line growth momentum in the current economic environment. We’re very well positioned to continue growing in this or any environment. We have a strong multi-year innovation program, which includes recent innovations that we are in the process of rolling out around the world and new innovations that will be coming to market for the first time this year.” — Jon Moeller, CFO, fiscal Q1 earnings call

Cincinnati Financial Corp.

Oct. 25

“We are encouraged by another factor in our growth — the increase in premiums we collect on business policies that are audited to determine accurate premiums based on payrolls or sales. After a period of decrease, the contribution from audit premiums now has risen slightly for each of the past four quarters, indicating that our policyholders’ businesses are on the path to economic recovery.” — Steve Johnston, president and CEO, 3Q earnings release

Honda Motor Co.

Oct. 29

Honda revised its fiscal year 2013 forecast for consolidated operating income from the previously announced 620 billion yen to 520 billion yen “factoring in the impact of the recent situation in China, a decline in sales in Europe and South America due to changes in the business environment, and the unfavorable currency effects due to depreciation of local currencies in some emerging countries.” — fiscal second quarter earnings release

Ford Motor Co.

Oct. 30

“The company’s outlook for North America for full year 2012 remains unchanged. Ford expects significantly higher pre-tax operating profit and margin compared with 2011, as consumers continue to respond to the company’s strong product lineup. Ford also remains committed to maintaining its competitive cost structure as it grows its business in North America.” — third quarter earnings release