Tuesday, July 30, 2013

Earnings: NOV, Arch Coal

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National Oilwell Varco: earnings fall 12% on margins; the largest U.S. oilfield equipment provider, reported a 12 percent fall in second-quarter profit as margins remained under pressure in the North American land-drilling market. Net income attributable to the company fell to $531 million, or $1.24 per share, for the quarter ended June 30, from $605 million, or $1.42 per share, a year earlier.

Twelve (12) companies announced increased dividends.

Arch Coal beats by $0.04, misses on revs; Co says that the the outlook for U.S. thermal coal is improving: Reports Q2 (Jun) loss of $0.29 per share, excluding non-recurring items, $0.04 better than the Capital IQ Consensus Estimate of ($0.33); revenues fell 20.6% year/year to $766.3 mln vs the $919.73 mln consensus.

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