Earnings Roundup (NYSE: MMC, PHM, BHI) - Stock Update

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Marsh & McLennan Companies, Inc. (NYSE:MMC) said Wednesday that its third-quarter profit was $221 million, or 41 cents a share, compared to a loss of $8 million, or 2 cents a share, in the year-ago period. Total revenue was $2.5 billion, down from $2.8 billion in the third quarter of 2008, while the New York-based financial services firm said adjusted profit in the latest quarter was 48 cents a share. Analysts surveyed by FactSet Research expected, on average, adjusted profit of 27 cents a share on revenue of $2.6 billion.

Pulte Homes, Inc. (NYSE:PHM) , the home builder that acquired Centex Corp., on Wednesday reported a third-quarter loss of $361.4 million, or $1.15 a share. The latest quarter's results included $86.7 million of charges related to the Centex merger, $163.8 million in inventory impairments and land charges, and a $47.4 million loss to retire debt. In the year-ago quarter, Pulte posted a loss of $280.4 million, or $1.11 a share. Consolidated revenue dropped to $1.09 billion from $1.56 billion in the year-ago quarter as the top line was hit by lower home sales and prices. Analysts polled by Thomson Reuters had forecast revenue of $1.23 billion, on average.

Baker Hughes Incorporated (NYSE:BHI) the Houston energy-drilling giant, reported that third-quarter net income fell 87% on 26% lower revenue. Earnings were $55 million, or 18 cents a share, compared with $429 million, or $1.39, in the year-earlier quarter. The latest share figure includes 8 cents of restructuring costs and higher allowance for doubtful debt. Revenue fell to $2.23 billion from $3.01 billion. A survey of analysts by FactSet Research produced consensus estimates of 36 cents of profit on $2.27 billion of revenue. Operating-profit margins in North America widened in the third quarter from the second quarter, said Chad C. Deaton, chairman, president and chief executive, in a statement on Wednesday. "International results were disappointing, with revenue less than expected and price discounting greater than expected," he said.

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