General Motors (GM) came out speeding ahead of the pack this morning. The U.S. automaker's shares were rising before the bell Tuesday after posting record revenue for the third quarter of $42.8 billion, which is an increase of $4 billion from a year earlier. Net profit for the period of $2.8 billion, was double that of a year ago, driven by strong performance in the U.S. and China. On a per-share basis, earnings of $1.72 beat analysts' forecasts. GM said revenue benefited from strong pricing for its vehicles, as well as a "richer mix" of vehicles and equipment selected by customers. The company has come a long way from filing for bankruptcy protection in 2009.
Lockheed Martin (LMT) shares were also flying higher on Tuesday in premarket trading after reporting a massive earnings beat. The aerospace-and-defense company posted third-quarter EPS of $3.61, well above Wall Street's forecast for $2.86. Revenue of $11.55 billion also topped expectations of $11.38 billion.
Shares of E.I. du Pont de Nemours (DD) were slightly higher after besting third-quarter forecasts. Earnings of $0.34 per share beat estimates of $0.21. Revenue of $4.9 billion was just above expectations of $4.8 billion for the period. The company also raised its 2016 adjusted EPS guidance. DuPont is preparing for its merger with Action Alerts PLUS holding Dow Chemical (DOW) , which was approved by shareholders in July. Once complete, the companies plan to break into three parts. DuPont CEO Ed Breen said in a statement that the deal could close in the first quarter of 2017 if regulators use their full allotted time.
Meanwhile, Growth Seeker holding Under Armour (UA) posted top- and bottom-line beats for the fiscal third quarter. The sportswear maker reported EPS of $0.29, compared with expectations for $0.20. Revenue of $1.47 billion also surpassed forecasts of $1.45 billion. North American net revenues for the third quarter grew 16% year over year, while international net revenues advanced 80% year over year on a currency-neutral basis. CEO Kevin Plank noted that this marks the 26th consecutive quarter of 20% revenue growth. Under Armour expects full-year revenue of $4.93 billion.
Finally, in the midst of a solid earnings season, Caterpillar (CAT) shares were slumping before the bell after posting mixed quarterly results. Earnings of $0.85 per share for the third quarter beat analysts' estimates of $0.75, but revenue of $9.16 billion did not meet Wall Street's forecast of $9.8 billion. Caterpillar also lowered its full-year outlook. It now expects sales and revenues to be about $39 billion, which is below its previous outlook range of $40 billion to $40.5 billion. The company expects EPS to be $2.35, also lower than its prior forecast of $2.75.