Wednesday, January 16, 2019

4Q18 Earnings

This is not an investment site. Do not make any investment, financial, job, travel, or relationship decisions based on what you read here or what you think you may have 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 for the current quarter 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 earnings season is over.

I don't have time to check/update earnings on all companies that might interest me or readers.

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.

Note: by 4Q16 I had lost a lot of interest in tracking earnings. I'm not sure where I will go with this page. In fact, there are more and more days when ... no, I won't go there. 

NOG: earnings; press release;

QEP: earnings transcript, 4Q18. Back into the Bakken: one rig, seven wells; re-frack program.

Oasis: link here.

EOG: record year and blows away estimates. Link here.

SRE: maybe Warren should have bought SRE instead of doing that crazy Kraft-Heinz deal? Just saying -- link here -- transcript here --
  • revenue: $3.22 billion, up almost 9% year-over-year; beats by $280 million (almost 9%)
  • EPS: $1.56, beats by ten cents; GAAP EPS of $3.03, beats by a stunning $1.40
  • overall market: futures showing red but SRE futures not yet posting
CLR: another case of over-promising, under-delivering? Misses on both the top line and the bottom line. Shares down almost 7% after the earnings release.

MDU: must have met the "whisper number." MDU shares flat even after announcing earnings that missed forecasts.

Big Oil: best results in years.

BP: exceeds expectations. And here. Best profit in five years. That includes years in which WTI was trading close to $100 / bbl.

Valero: both earnings and revenue beat forecasts.

Facebook: surges; headline said the company "smashed" forecasts.

GE: huge miss on earnings -- but shares surging, according to the headline; apparently GE shares are up 20% year-to-date

CVX: will build a million-bopd pipeline in the Permian; at least I think that's what I saw

M/C: huge earnings report according to the headline.

CVX: will buy Brazilian refinery along US coast; will pay $350 million for the Petrobras refinery

Shell: full-year profits surges to four-year highs; beats expectations. [Note: I don't often do this, but I am so thrilled with myself -- LOL -- I can't resist -- Shell was one of two energy companies I started buying about one year ago and kept accumulating.] Shell pledges to do it all. Archived.

COP: link here. Huge earnings report. On the radio: "COP hit is out of the ballpark." Slides here.

XOM: profits tops estimates. Nothing but good news for ExxonMobil today. Earlier it was reported that Rystad Energy named ExxonMobil the oil, gas explorer of 2018. Back to its earnings:

  • excluding the impacts of tax reform, revenues from to $6.4 billion from $3.73 billion a year ago
  • production: 4 million bopd
  • the Permian: up 90% over one year ago (considering its production there was minimal, this was not a tough metric to beat)
  • EPS: $1.41 vs $1.08 forecast
Hess: investors happy with report; narrows loss

Shell: reports January 31, 2019. Analysts expect a huge report. If they miss ....

IBM: Tuesday after the close, IBM reported fourth-quarter results that beat EPS and revenue estimates, with revenue down 3.5% year-on-year. Last year, the company broke a nearly six-year streak of declining revenue. Analysts had expected Q4 to continue the trend. Surprise! IBM is up nearly eight percentage points Wednesday morning.

SLB: beat/meet; stock surges; 36 cents vs 36 cents forecast; revenues of $8.18 billion vs expectations of $8.06 billion.

HAL: Halliburton posted adjusted income from continuing operations of $0.41 per diluted share for the fourth quarter of 2018, excluding a tax benefit related to a strategic change in the company’s corporate structure. The $0.41 earnings per share compares to an analyst consensus estimate of $0.37. For the full year 2018, Halliburton’s total revenue rose by 16 percent on the year to $24.0 billion. Revenue for 4Q18: $5.94 billion, better than expected.

Netflix: misses on revenues; $4.19 billion vs $4.21 billion; but bottom line, earnings of 30 cents/share easily beat 24 cents expected. Guidance was really bad: 56 cents vs estimates of 85 cents for 1Q19. 

Morgan Stanley: forecast for good news. Apparently not so good; stock drops. Posted January 17, 2019.

Alcoa: Look at this: Alcoa swings to GAAp profit, sees an aluminum deficit, and an alumina surplus for 2019.
Shares of Alcoa Inc. rose in the extended session Wednesday after the company swung to a GAAP profit in the fourth quarter. Alcoa said it earned $43 million, or 23 cents a share, in the quarter, versus a loss of $196 million, or $1.06 a share, in the year-ago period. Adjusted for one-time items, the company earned $125 million, or 66 cents a share, compared with $195 million, or $1.04 a share, a year ago. Revenue hit $3.3 billion, from $3.2 billion a year ago. Analysts polled by FactSet had expected adjusted earnings of 50 cents a share on sales of $3.3 billion.
Banks: From Chesto over at The Boston Globe, January 16, 2019:
Bank of America's fourth-quarter profit topped analysts' estimates, and its profit for the year was a record $28.15 billion.
Goldman Sachs beat estimates as a spike in revenue from investment banking offset declines in revenue from underwriting and trading.
Ford Motor warned that its fourth-quarter profit would fall short of estimates, and didn't provide a forecast for 2019.

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