Thursday, January 7, 2016

Earnings -- 4Q15

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 4Q15 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.

  • I assume this is the quarter that we will see a lot of write-downs, and a general "reset" for a lot of oil and gas companies, assuming most have weathered the worst, and are now geared for $30 oil for 2016.
General update (dates subject to change)
  • AAPL ($3.25): Apple, at $3.28 beat forecasts by a nickel, but overall, a negative report; iPhone sales slowing, iPads nosedive; huge beat in 3Q15: $1.96 vs $1.88 forecastA year ago, AAPL crushed expectations, earning $3.06/share, 4Q14.
  • AA (Alcoa) (4 cents), Oct 8: In 3Q15, 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. This quarter (4Q15) the company reports next Monday (after market close) and is forecast to report a paltry 4 cents in earnings. Results: meets / beats at 4 cents/share; Alcoa will split into two companies -- raw materials (Alcoa) and aerospace (yet to be named)
  • BRK: in 3Q14, BRK's profit more than doubled over same quarter one year ago; BNSF reported a 12% increase; something tells me it won't be as rosy this time (4Q15)
  • TSLA (10 cents): in 3Q15, the forecast was for a loss of 50 cents; AP story here; but the loss at 58 cents was much bigger than expected; deliveries were better than expected and TSLA surges 7% in after-hours trading; this time around, 4Q15, the company is expected to post earnings of 10 cents, and reports February 9. Whether it misses or beats that forecast, my hunch is that the shares move up or down significantly;
Monday, March 7, 2016
    • Linn Energy, LLC (LINE) is coming out the gate Gang Busters style this Monday morning as stocks are up a staggering 91.00% as of 10:16 AM ET. Shares of LINE soared on this past Friday in response to energy prices rising.
    • After seeing oil prices fall below $27 per barrel earlier this year, there has been a recent comeback, with oil going for $36.33 per barrel as of this past weekend, per an article from Seeking Alpha.

March 3, 2016
    • An uptick in print sales, driven in part by the success of adult coloring books, has bolstered the retailer’s expectations. Excluding sales related to its Nook device and e-book business, same-store sales were up 1.3% in the third quarter. And the company still expects sales on that basis to rise 1% for the full fiscal year, which ends April 30.
    • Barnes & Noble said it expects to have closed eight stores by the end of fiscal 2016, the fewest since fiscal 2000 when it closed five locations. Barnes & Noble had previously forecast that it would close 13 stores this fiscal year.
    • During a call with analysts, Ronald Boire, Barnes & Noble’s chief executive, said reducing Nook losses is the retailer’s priority. He said that while the company is committed to its digital customers, it is exploring all options. The retailer is currently winding down the sale of its Nook devices and e-books in the U.K.
    • After yesterday's market close, the Springfield, MA-based firearms manufacturer posted adjusted earnings of 59 cents per share, topping analysts' estimates of 39 cents per share.
    • Revenue spiked 61.5% to $210.8 million year-over-year and surpassed Wall Street's expectations of $174.93 million.
March 2, 2016
  • COST (Costco): Press release --
    • Net income for the quarter was $546 million, or $1.24 per diluted share, compared to $598 million, or $1.35 per diluted share, last year. Net income for the first half was $1,026 million, or $2.32 per diluted share, compared to $1,094 million, or $2.47 per diluted share, last year. 
    • Net income for the quarter last year was positively impacted by a $57 million ($0.13 per diluted share) tax benefit in connection with a special cash dividend received by the Company 401(k) plan participants, and was negatively impacted by a $14 million ($0.03 per diluted share) tax charge relating to an ongoing income tax matter. 
    • For the four-week reporting month of February, ended February 28, 2016, the Company reported net sales of $8.28 billion, an increase of one percent from $8.18 billion during the similar four-week period last year. For the twenty-six week period ended February 28, 2016, net sales were $58.25 billion, an increase of two percent from $57.19 billion during the similar period last year.


Monday, February 29, 2016
  • California Resources Corporation (CRC): forecast a lost of 24 cents; actual loss was $8.54/share but adjusted, a loss of 20 cents/share 
Saturday, February 27, 2016
  • BRK: The letter also included Berkshire Hathaway's latest quarterly earnings, which showed that the company earned $3,333 in earnings per share (EPS) for Q4.
    • That beat Wall Street's forecast for $2,529, according to Bloomberg. 
    • In all, profits rose 32% to a record $5.48 billion.
    • Operating EPS came in at $2,843, versus $2,814 expected. 
    • The results showed that Berkshire's gain in net worth last year was $15.4 billion, and the company's per-share book value has grown at a 19.2% compounded rate annually.
    • But it was a tough year for Berkshire's stock, which declined 12%, more than the S&P 500's 0.7% drop, and the weakest performance for the shares since 2009.
Friday, February 26, 2016
  • Q4 EPS of $1.47 beats by $0.15.
  • Revenue of $2.7B (-1.8% Y/Y) misses by $1.11B.
Thursday, February 25, 2016
Wednesday, February 24, 2016
  • CHK: a loss of 16 cents/share; in -line
  • CHK: On Wednesday, Colorado-based FourPoint Energy LLC announced it would take on some 3,500 Chesapeake wells in Oklahoma and Texas for a price tag of $385 million in a deal that sent Chesapeake’s stock up 23 percent. The asset sale will mean a full withdrawal of Chesapeake from the Western Anadarko Basin, but the market loves the idea. It’s a lifeline for Chesapeake, which has reported an annual loss of some $14.7 billion and needed a big savings win to get back in the game and keep bankruptcy fears at bay. In the fourth quarter, the company reported a $2.2 billion net loss. For FourPoint, it means it will now own all of Chesapeake’s Western Anadarko basin assets. Last July, the Colorado company moved to acquire $850 million in assets owned by two Chesapeake subsidiaries in Oklahoma. The new deal is expected to close by 29 April this year. 
  • CLR: a loss of 23 cents vs a projected loss of 21 cents/share; Revenue of $575.5 million topped expectations of $569.3 million but declined from $1.3 billion a year ago. stock is soaring 13.25% to $20.30 Thursday after the company released its fourth quarter 2015 earnings yesterday after the market closed and said it would cut planned capital spending this year by 66%.  
  • Southwest Energy beats by 5 cents; a loss of 2 cents/share;
  • Range Resources beats by 16 cents; earned 25 cents/share;
  • DCP Midstream Partners:
    • Exceeded the 2015 distributable cash flow target range of $545 million to $565 million and reported 2015 adjusted EBITDA within the $655 million to $685 million target range.
    • Distributable cash flow was $145 million in the fourth quarter of 2015, up 29 percent from the fourth quarter of 2014, resulting in a distribution coverage ratio of 1.21 times in the fourth quarter of 2015. Distributable cash flow was $572 million for the full year 2015, up 21 percent from 2014, and above the target range, resulting in a distribution coverage ratio of 1.19 times for the year ended December 31, 2015.
  • QEP: slips to loss; a loss of 1 cent/share, vs forecast of 12 cent/share loss; suspends dividend;
  • RIG: a loss of $1.05/share vs forecast of a loss of 61 cents/share;
Tuesday, February 23, 2016
Monday, February 22, 2016
  • McDermott: after market close, forecast a loss of 11 cents;
  • OKE earnings.
    The Tulsa, Oklahoma-based company said it had profit of 12 cents per share. Earnings, adjusted for asset impairment costs and to account for discontinued operations, were 45 cents per share.
    The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.
Friday, February 19, 2016
Thursday, February 18, 2016
Tuesday, February 16, 2016:
Thursday, February 11, 2016:
  • TransCanada (TRP.TO), forecast 61 cents; hefty loss on Keystone charge; a fourth-quarter loss of C$3.47/share vs a profit of 65 Canadian cents a year earlier.

Wednesday, February 10, 2016:
  • Tesla, after hours, forecast, 8 cents; loss tripled to $2.44/share, compared to 86 cents/share a year earlier;
  • Twitter, after hours, forecast, 12 cents; at 16 cents/share, beat estimates but shares fell in Wednesday after-hours trading as the company revealed that its user numbers had declined sequentially.

Tuesday, February 9, 2016:
  • SolarCity reported a loss of $2.37 per share during the fourth quarter, which is a narrower loss than analysts' forecasts for a loss of $2.59 per share. Revenue of $115.48 million topped analysts' forecasts for revenue of $105.62 million. However, SolarCity projected a 2016 first quarter loss between $2.55 per share to $2.65 per share, which is wider than analysts' forecasts for a loss of $2.36 per share. After SolarCity reported 4Q15 earnings: 
Monday, February 8, 2016:
Monday, February 4, 2016
Monday, February 1, 2016:
  • Cardinal Health, $1.26 forecast; beats forecast at $1.30; revenue up 23%
  • Tesoro, $2.08 forecast after market close, from 4Q14 (one year ago): TSO ($0.31):  $1.13 per share. Earnings, adjusted to account for discontinued operations and non-recurring costs, came to $1.46 per share; increased its quarterly dividend by 40% to 42.5 cents a share.
    Friday, January 29, 2016:
    • Chevron misses by 82 cents; took a huge loss vs 46-cent-profit forecast. Not a good day for someone.
    • Mastercard reports that its profit rose 11% and shares drop as much as Chevron shares fell; beat by 10 cents, earning 79 cents vs 69 cents forecast.
    • Phillips 66 reports all kinds of things: "suffers from sharp drop in refining margins" (did Warren Buffett blow it again?); "profit plunges 43%; reports $1.20 per share vs $1.25 forecast. Wow, not a good day for Warren. We talked about refining margins just two days ago. See this link. When Warren was buying PSX, refining margins were $1.00/US gallon of gasoline; recently, as low as 25 cents. That huge glut of gasoline is the reason no doubt; if the supply of gasoline rises much more, the Japanese will start giving it away for free.
    Thursday, January 28, 2016:
    Wednesday, January 27, 2016:
    • Anthem, $1.14 vs $1.21 forecast, profit drops 64%; ObamaCare taking its toll;
    • Boeing, $1.51 vs $1.37 forecast, but guidance lowered; shares fall sharply; makes one wonder about the reported vs forecast; doesn't look like a good day for the market; also here;
    • Hess Corp, a loss of  $1.40 vs $1.47, LOL; the only bright spot among those reporting early
    • NSC, $1.20 vs $1.23 forecast, perhaps not going to be a good day; 
    • Facebook, shares shot up 12% after the giant social network said it earned 79 cents a share on revenue of $5.84 billion in the fourth quarter, easily topping Wall Street estimates.Facebook topped $5 billion in quarterly revenue for the first time, up 52% from a year ago. It was also the first quarter in which Facebook posted more than $1 billion in quarterly net income.
      Facebook was expected to report earnings of 68 cents a share, excluding certain expenses, up from 54 cents a year ago, according to S&P Capital IQ. Analysts expected revenue of $5.37 billion. Facebook reported earnings after the close of the market.
    Tuesday, January 26, 2016:

    Monday, January 25, 2016:
    Thursday, January 21, 2016:
    • Starbucks; at 46 cents, beat forecast of 45 cents; but outlook poor;
    • Bank of New York Mellon, forecast 64 cents; before market open;
    • UNP: missed by 11 cents; the biggest miss in at least 10 years; shares slump;  The weakness in rail cargo probably will last this year as coal demand continues to drop and U.S. production lags. CSX Corp. Chief Executive Officer Mike Ward said last week that the industry was in a “freight recession” and his railroad’s earnings are expected to decline. CSX is the largest railroad in the eastern U.S. while Union Pacific operates in the West.
    • Verizon comes in stronger than expected.
    • Schlumberger reports earnings of $0.65 a share vs. estimates of $0.63 ; revenues of $7.74 billion vs. estimates of $7.78 billion.Schlumberger's fourth-quarter results were hurt by a 39 percent drop in revenue and huge accounting charges. It posted a loss of $1.02 billion, or 81 cents per share. Earnings, adjusted for non-recurring items and asset impairment costs, came to 65 cents per share.
      The results still topped Wall Street expectations. The average estimate of 18 analysts surveyed by Zacks Investment Research was for adjusted earnings of 63 cents per share.
      Schlumberger posted revenue of $7.74 billion in the period, which fell short of Street forecasts. Twelve analysts surveyed by Zacks expected $7.79 billion. A year earlier its revenue totaled $12.64 billion.
      Schlumberger's shares are down 25 percent in the past year, and the company said its board authorized the repurchase of up to $10 billion in stock. In after-hours trading, the stock added 37 cents to $61.80
    • Bank of New York Mellon: profit jumps;
    Overall, Bank of New York reported a profit of $693 million, up from $233 million a year earlier. Per-share earnings rose to 57 cents from 18 cents. The year-earlier period included 53 cents in litigation and restructuring charges, partially offset by a tax benefit.
    Excluding a previously disclosed charge stemming from a recent court decision, among other items, earnings per share increased to 68 cents from 58 cents. Revenue inched up 1.5% to $3.72 billion. Analysts predicted 64 cents in adjusted earnings per share on $3.75 billion in revenue.
      Wednesday, January 20, 2016:
      • Xilinx, 49 cents forecast: at 49 cents, in-line; on tough day for the market, shares jumped 3%
      • Kinder Morgan, 18 cents forecast: a loss of 29 cents/share; cuts dividend
      Tuesday, January 19, 2016:
      • Netflix, 2 cents forecast, better than expected
      • Bank of America, 26 cents forecast, 7:00 a.m. ET; solid, but tough quarter; beats forecasts, 28 cents;
      Last quarter (3Q15) for Netflix: NFX ($0.17): forecast of 16 cents; AP story here; huge beat at 21 cents per share; I did not capture NFX for 4Q14.
      Friday, January 15, 2016, more banks report:
      • Citigroup, forecast, $1.05; beats market at $1.06; shares down 2%; what do investors want?
      • US Bancorp, forecast 79 cents, before market open;
      • Wells Fargo, forecast, $1.02; diluted EPS of $1.03; EPS up 1%; revenue up 2 percent; ROE of almost 13%; shares down; what do investors want?
      January 14, 2016:
      • Intel, after market close, forecast 63 cents/share profit; huge beat, 74 cents but something bothers investors; immediately after reporting earnings, shares sold off 3% on a day the market was up over 200 points;
      • JPMorgan, 7:00 a.m. ET, $1.27/share profit; handily beats estimates; IBD reports: double-digit bottom-line growth in the fourth quarter, thanks to lower litigation expenses and a strong performance from its consumer bank division.The nation's largest bank earned $1.32 a share, up 10.9% from a year earlier and 7 cents ahead of estimates from analysts polled by Thomson Reuters. Net income was $5.4 billion. Revenue rose 0.8% to $23.7 billion, topping views for $22.9 billion. Dimon concerned about energy sector.

      CSX: Exactly one year ago: CSX reported fourth quarter earnings per share of $0.49, up 17% from $0.42 in the same period last year. This represents a new fourth quarter record for the Company. Revenue grew 5% in the quarter, to $3.2 billion, also a fourth quarter record, with broad based growth across nearly all of our markets, reflecting continued economic momentum.

      So, how did CSX do this quarter? The headline: CSX  profit declines a piddly 5% but beats forecasts. But this is scary:
      The results raise questions about the health of the overall economy because the Jacksonville, Florida-based railroad hauled less of most categories of freight in the quarter.
      CSX said it earned $466 million, or 48 cents per share, in the last three months of 2015. That's down from $491 million, or 49 cents per share, a year ago.
      That was better than the profit per share of 46 cents that the analysts surveyed by Zacks Investment Research expected.
      I can't get too excited; considering how "bad" the US economy has been doing, I would say CSX did pretty well, considering.

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