A news summary focused on 10 big employers; updated 4:56 p.m.
UPS just reported second-quarter results that were in line with Wall Street’s forecasts. The shipper — Louisville’s single-biggest private employer — reported net income of $1.27 billion, or $1.43 a share, up from $1.23 billion, or $1.35 a share, in the year-earlier period. The FactSet consensus of analysts was for earnings per share of $1.43.
Revenue was $14.6 billion, up from $14.1 billion in the year-earlier period and in line with the FactSet consensus of $14.6 billion. The shipper reiterated its full year EPS guidance of $5.70 to $5.90, compared to the FactSet consensus of $5.80 (MarketWatch and press release). UPS shares closed at $108.10, down 63 cents. The company employs 22,000 workers at the Worldport hub at Louisville International Airport — the biggest fully automated package handling facility in the world.
PAPA JOHN’S late yesterday boosted its quarterly dividend by a whopping 14%. The new 20-cents-a-share payout, up from 17.5 cents a share, will be paid Aug. 19 to shareholders of record as of Aug. 8 (press release). The pizza giant’s shares closed today at $73.95, up 30 cents. On an annual basis, the 10 cents-per-share hike is worth another $1,045,598 to founder and CEO John Schnatter. His 10,455,981 shares — the most owned by anyone — are now worth $770 million. Shareholders proxy report lists all major holders.
KFC: In the U.K. and Ireland only today, fast-chicken giant KFC today will give away a year’s supply of hot chicken wings to one very lucky winner and their best mate in a promotion celebrating National Chicken Wing Day. “All you need to do is follow KFC on Twitter and then tell them why your best mate is, well, the best, using the hashtag
#WingmanOfTheYear” (Metro). But don’t hesitate: You must enter by midnight tonight U.K. time, which is six hours ahead of Eastern Time.
TACO BELL: The world’s media outlets are now devoting wall-to-wall news coverage to Taco Bell’s new Cheetos-stuffed burritos debuting in the middle of August in Cincinnati. Behold the $1 sandwich in all its orange glory:
AMAZON spent $3.9 billion in the second quarter on its distribution network, Continue reading “UPS hits Q2 forecasts; Papa John’s hikes dividend 14%; it’s National Chicken Wing Day at KFC; and Franklin Circuit judge blocks new UofL board, casting school into more turmoil”