Monday, September 28, 2015

Earnings - 3Q15

This is not an investment site. Do not make any investment, financial, or relationship decisions based on what you read here. If this is important to you, go to the source. There will be factual and typographical errors on this page. If something looks wrong, it probably is.

Earnings Calendar

All 3Q15 earnings will be reported at this page; the link will be on the sidebar at the right, under "Earnings Central." When we start to see earnings reports for any quarter, the "Earnings Central" link is moved to the top of the sidebar until the earning season is over.

I don't have time to check/update earnings on all companies listed below. If you see one that I have missed, feel free to send it in (anonymous comment or by e-mail) and I will post it.

Much of this information is done in haste. I assume there are factual and typographical errors. It is for my personal use only. If this information is important to you, go to the source.

  • More than 2/3rds of the way through earnings season (November 4, 2015), reports do not seem as bad initially forecast; this was supposed to be a horrendous quarter; lots of write-downs; seems to be the quarter in which share prices in oil and gas sector were reset
General update (dates subject to change)
  • AAPL ($1.88): Huge beat: $1.96 vs $1.88 forecast.
  • AA (Alcoa) (15 cents), Oct 8: The aluminum maker reported an adjusted quarterly profit of 7 cents a share, missing analysts 13 cents a share estimate. Revenue of $5.6 billion came in roughly in line with estimates. Adjusted profit during the quarter was down 77% from the same period last year. 
  • BRK: profit more than doubles over same quarter one year ago; BNSF with 12% increase
  • TSLA: forecast a loss of 50 cents; AP story here; loss at 58 cents is bigger than expected; but deliveries better than expected and TSLA surges 7% in after-hours trading;

EPS estimates in parentheses following the ticker symbol (according to Yahoo!Finance) -- typographical errors likely.

ARII (American Railcar Industries) ($1.42):  
BizJournal; a third-quarter profit of $29.4 million, up 23 percent from $23.8 million in the prior-year quarter.

The company’s quarterly revenue totaled $172.7 million, up 6 percent from a year ago.
Anadarko (APC) (a lost of 73 cents: wow, huge miss, a net loss of $4.71. How could forecast and actual be so different? Actually, they knocked off $3.69 from the loss for "certain items affecting comparability" and when doing that they actually show a loss of only 72 cents (slightly better than forecast).

APA (- 34 cents): forecast a loss of 36 cents; Reuters;
a much bigger quarterly loss as it took a $3.7 billion writedown due to a slump in oil prices
Net loss attributable to Apache's common shareholders widened to $5.56 billion, or $14.95 per share, in the third quarter, from $1.33 billion, or $3.50 per share, a year earlier.
AXAS (- 2 cents): AP report; misses by one cent; a 3-cent loss; 

AMZG ($): Nov 5

Arch Coal (ACI) (-$5.52):
Arch Coal (ACI), forecast a loss of $5.45; much, much better -- only a loss of $3.38/share; Arch Coal soars after earnings beat; up as much as 10%; Revenue decreased to $688.5 million, down from $742.2 million for the year-ago period. Analysts surveyed at Zacks were expecting the company to report a wider loss of $5.79 per share on revenue of $688.29 million.
BTE.TO (Baytex) (- 12 cents): forecast a loss of 16 cents; press release;
a slower pace of development in the Eagle Ford and suspended heavy oil drilling in Canada. We remained focused on cost reduction;
BAX ($0.29): incredible quarter; beats by 12 cents;

BCEI (- 22 cents):  Nov 4

BHI (-10 cents): loss less than expected, 5 cent loss vs Zacks forecast a loss of 15 cents;
Oilfield services giant Baker Hughes saw revenues drop to $3.8 billion for 3Q 2015, down 39 percent compared to 3Q 2014, and a 5 percent decrease from last quarter. “Compared to the third quarter of 2014, revenue in North America declined 57 percent on sharply lower activity and unfavorable pricing, while actions we have taken to right-size our operational structure resulted in decremental adjusted operation profit margins of 30 percent,” Baker Hughes CEO Martin Craighead said in a company release.
BK ($0.72): profit down, but beat estimates at 74 cents/share; "comfortably surpassed estimates" -- Zacks;

BKH ($0.57):  forecast 58 cents; 64 cents adjusted; AP here;

BWC (Babcock & Wilcox) ($ ): forecast 32 cents; press release here; big miss; 25 cents;

Calfrac Well Services (CFW.TO) (-36 cents): press releaselooks like a 25-cent loss vs a forecast 36-cent loss;

CAT (82 cents):  big miss; 75 cents;

CHK (- 13 cents): Zacks; 5-cent loss, which is much better than the forecast 13-cent loss.

CLNE (-28 cents): forecast a loss of 28 cents; press release here;
if I read this correctly, the loss was 23 cents; much better than forecast;
CLR (- 9 cents): forecast, a lost of 12 cents; AP story; in line, lost 12 cents;

CNR.TO (Canadian National Railway) ($1.14): Oct 27
COP (-18 cents):
  • Q3 EPS of -$0.38 in-line.
  • Revenue of $16.05B (+24.2% Y/Y) beats by $7.94B. (this may be an error; was not in the corrected Seeking Alpha update)
  • Press release here
CPG.T (Crescent Point) ($): forecast 3 cents; AP; earnings came to 2 cents;

CRR (- 63 cents):
  • AP story here.
  • On a per-share basis, the Houston-based company said it had a loss of 60 cents. Losses, adjusted for non-recurring costs, came to 35 cents per share.
  • The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 63 cents per share
CSX ($0.51): Record 3Q15 earnings;  52 cents; The company also reported record operating profits and operating ratio. The operating efficiency helped CSX offset year-over-year revenue and volume decline by 9% and 3%, respectively. Reported revenues were $2.9 billion, operating income was $0.9 billion, and operating ratio was 68.3% for the quarter compared to 66.8% in the prior quarter.

CVX ($0.84): huge beat at $1.09; will cut 7,000 jobs

DNR (13 cents):  forecast 13 cents; AP; beats by 5 cents at 18 cents per share;

DVN ($0.56):  The AP story; wow, a huge beat -- earnings reported to be 76 cents vs 56 cents forecast per share. Reuters/Rigzone here.

ECA ($):

EEP ($0.22):  beats by 2 cents;

ENB (ENB.TO) (49 cents), forecast 49 cents; WSJ;
Canadian / US dollars makes forecast / actual difficult to compare; WSJ says 47 Canadian cents were up from 41 Canadian cents a year earlier but fell just short of hte 49 Canadian cents analysts were expecting; from Reuters: Enbridge Inc, Canada's largest pipeline company, reported a 15.7 percent rise in quarterly adjusted profit, helped by increased throughput as producers moved more oil by pipelines than on rail. The Calgary-based company's adjusted earnings rose to C$399 million ($303.4 million), or 47 Canadian cents per share, in the third quarter ended Sept. 30, from C$345 million, or 41 Canadian cents per share, a year earlier. ($1 = 1.32 Canadian dollars)
EOG (-25 cents):  forecast a loss of 29 cents; press release; transcript;

EOX (Emerald; was VOG) ($ ):

EPD ($0.33):
  • misses by 2 cents
  • misses on revenues
ERF (ERF.TO) (): forecast a loss of 10 cents; AP; huge miss; actually loss 32 cents/share;

ETP ($0.25):  Nov 3 

GEOI (bought by Halcon [HK], below)

HAL ($0.31):  revenue drops 47%; a loss of 6 cents/share; huge miss;

HES (- $1.22):  Hess does better than expected; still reports a loss:
The New York-based company said it had a loss of 98 cents per share. Losses, adjusted for non-recurring gains, were $1.03 per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of $1.22 per share.
HP (6 cents):  Nov 11

HK (Halcon; previously GEOI) (1 cent):  forecast one cent; press release;
if I read this correctly, net income was 4 cents; if accurate, a huge beat; transcript;
Kinder Morgan - KMI ($0.19 ): Oct 21, after market closes

LEG.TO (Legacy/Bowood) ($):

LINE (10 cents): suspends dividend, Oct 27; preliminary results; forecast 13 cents; press release;

MDU ($0.38): forecast 38 cents; AP reports:
MDU Resources Group Inc. (MDU) on Monday reported a third-quarter loss of $139.4 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Bismarck, North Dakota-based company said it had a loss of 72 cents. Earnings, adjusted to account for discontinued operations and non-recurring costs, came to 38 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.
MHR (Magnum Hunter) (- 26 cents):  Nov 5

MPC (Marathon Petroleum ($1.72):
  • refiner profits jump 40%, Reuters 
  • profit of $1.76 per share
  • results did not meet Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.80 per share
  • revenue of $18.76 billion in the period, topping Street forecasts. Three analysts surveyed by Zacks expected $18.19 billion
MPO (-$3.28): press release here; 95-cent loss; AP here; beats by $2.91;

MRO (Marathon Oil) (- 40 cents): forecast, a loss of 40 cents; AP story here; appears to be a huge beat; loss at 20 cents vs 40 cents forecast;

MUR: beats by 20 cents; press release here;  

NE (Noble Corp) ($ ):

NBL (- 15 cents): misses, Zacks; 21-cent loss; vs 15-cent loss forecast;

NBR (-13 cents): Oct 27, after market closes

NFX ($0.17): forecast of 16 cents; AP story here; huge beat at 21 cents per share;

NGLS (9 cents):
NOG ($0.16):  Nov 4, after market close

NOV ($ 0.57):  National Oilwell: better than expected: sees weaker 4Q15;
Earnings per share (excluding one-time items) came in at 61 cents, surpassing the Zacks Consensus Estimate of 56 cents.
OAS ($6 cents): forecast of 6 cents; AP story here; works out to 9 cents/share;

OKE ($0.40):  AP story; OKE 41 cents vs 39 cents forecast; beats; press release;

OKS ($0.47): see OKE

OTTR ($0.42): forecast 44 cents; AP reports:
The Fergus Falls, Minnesota-based company said it had profit of 41 cents per share. Earnings, adjusted to account for discontinued operations, were 42 cents per share.
OXY (- 1 center): OXY adjusted profit beats expectations on cost cuts; swings to quarterly loss on $2.6 billion in charges;
The company, which has operations in Oman, Texas and North Dakota, posted a net loss of $2.61 billion, or $3.42 per share.
Occidental reported a profit of $1.21 billion, or $1.55 per share, in the year-ago quarter. 
The latest quarter’s results included about $3.4 billion in asset impairment charges.
Core earnings were 3 cents a share, while analysts polled by Thomson Reuters had forecast a loss of a penny a share.
PAA ($0.26): forecast of 25 cents; beats by 4 cents; 28 cents EPS

PSX ($2.03):  earnings jump 34%; huge, huge beat; forecast $2.24; actually earned $2.90

PXD (Pioneer Natural Resources) (- 2 cents): 
Forecast a loss of 3 cents; press release here; Pioneer reported third quarter net income attributable to common stockholders of $646 million, or $4.27 per diluted share. Without the effect of noncash derivative mark-to-market gains and other unusual items, adjusted results for the third quarter were a net loss of $1 million after tax, or $0.01 per diluted share.
QEP (- 8 cents):
  • forecast a loss of 10 cents; press release here; beats; continuing operations, 12 cents; EPS adjusted one cent;
RRC (Range Resources):  (-2 cents): Oct 28

RIG ($0.61):  forecast, 68 cents; press release; beats by 21 cents; 87 cents EPS;

SBUX (Starbucks) ($0.43):
  • forecast 43 cents; 
  • profit jumped 11% in the third quarter driven by growing sales at its U.S. cafes, though it projected earnings for the current period that came in slightly below analysts’ expectations.
  • global same-store sales rose 8% in the latest quarter, above Consensus Metrix analysts’ expectations for an increase of 6.9%
  • same-store sales in the Americas segment grew 8%—driven by a 9% jump in the U.S.—also exceeding analysts’ forecasts.
SD (- 11 cents):  press release; 7-cent loss; to acquire North Park Bsin Niobrara shale oil assets for $190 million; acquies Pinon Gathering System - eliminates $40 million of annual expenses

SLB ($0.78): in-line.

SCTY: (-$1.95): Oct 29

SM (- 19 cents):  if this is correct, quite a beat; net earnings of 5 cents vs expected loss of 19 cents;

SRE (91 cents):
  • transcript
  • it was a $1.00 in 2Q15; forecast 88 cents; beats by 11 cents; AP here;
  • the San Diego-based company said it had profit of 99 cents per share. Earnings, adjusted for non-recurring costs, came to $1 per share
  • the results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 83 cents per share


STO (BEXP) ($): Statoil, state-controlled; posted a net loss of $330 million compared with a loss of
$550 million same quarter one year earlier. 
STR (18 cents):  AP; meets profit forecast; reported 18 cents; exactly in line.

T ($0.69): big beat; 74 cents; increases guidance on earnings; increases guidance on free cash flow; 3Q15 revenues up almost $40 billion, nearly 19% versus year earlier; they say the 19% increase is due to DirecTV -- if so, wow!
Net income attributable to the company fell to $3.0 billion, or 50 cents per share, in the third quarter ended Sept. 30, from $3.13 billion, or 60 cents per share, a year earlier. The company, reporting its first earnings since completing its $48 billion acquisition of satellite TV operator DirecTV, said total operating revenue rose to $39.1 billion from $33.0 billion.
Targa Resources (TRGP) (62 cents):  
TPLM (- 11 cents):  Dec 7

TSO ($5.32): beats by 8 cents; press release here;

TransCanada (TRP.TO) ($): forecast 60 cents; press release here; 57 cents, it appears;

Ultra Petroleum (UPL) ($0.17): Oct 29
UNP ($1.43): big beat; $1.50;

USEG ($): 

VLO ($2.60):   Valero earnings rise 40% on cheap crude oil; profit rises 30 percent; tops forecast
The San Antonio-based company said it had profit of $2.79 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.60 per share.
WDFC ($0.81):  misses; at 80 cents;

WFT (- 9 cents):  a loss of 5 cents; vs expectations of a 11-cent loss;


WLL (- 21 cents):  Whiting Petroleum, forecast a loss of 25 cents; press release here; a loss of 17 cents; prior to adjustment, a loss of $9.14 vs a gain of $1.32 same quarter last year; Whiting writes off $2.57 billion in assets, including its KOG assets;

WMB ($0.23 ):   forecast 22 cents; press release here; meets at 22 cents, vs 21 cents same quarter one year ago;

WPX (- 10 cents): forecast a loss of 14 cents; AP;

slightly wider than foecast; Zacks predicted a loss of 12 cents; actual loss was 17 cents/share;
XOM (91 cents):  huge beat at $1.01; this is interesting -- a $1.01 this quarter this year, and $1.89 a year ago, same quarter; huge drop but nearly not as bad as one might have expected; color me impressed;

XLNX ($0.47):  beats at 48 cents; Wall Street  happy; Shares of Xilinx went up nearly 5% in after-hours trading yesterday, primarily due to better-than-expected earnings during the quarter and an encouraging third-quarter revenue guidance.

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