Sunday, January 12, 2020

4Q19 Earnings

Note: this is, hands down, one of the most boring things I to do each quarter. I doubt anyone really looks at it but the day I quit doing this will be the day I miss posting something important. The word "important" is used loosely. Very loosely.

This is linked at the top of the sidebar at the right during earnings season. After earnings -- pretty much after Whiting and Apple posts their earning, this post will move back into obscurity.


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Earnings -- 4Q19

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Earnings season begins: off to the races and right out of the gate -- BAX --

Schlumberger: stock surges after profit, revenue beat expectations.
Adjusted EPS came in at 39 cents vs 37 cents forecast. Net income fell to $333 million of 24 cents/share, from $538 million, or 39 cents/share in the same period a year ago. Revenue rose to $8.32 billion from $8.18 billion, beating a forecast of $8.16 billion. Free cash flow was $1.5 billion for the quarter and $2.7 billion for the year. From a year ago, 4Q18: SLB: beat/meet; stock surges; 36 cents vs 36 cents forecast; revenues of $8.18 billion vs expectations of $8.06 billion.
CSX: revenues drop 8% year-over-year; due to loss of coal shipments; shares dropped 2.5% on the news; guidance not good.

Banks:
  • BK: beats estimates, but barely; $1.01 vs 99 cents; layoffs continue; will spend huge amount on tech in new year; shares plunge 8%; 
  • Morgan Stanley: $1.30/share on $10.9 billion in revenue; topping analyst expectations of $1.02/share on $9.8 billion. 
  • JP Morgan earnings crushed analysts' estimates; best year ever in the history of any bank, ever; profit rose 21% to $8.52 billion or $2.57/share; forecast, $2.35/share; revenue of $29.2 billion vs estimate of $27.94 billion;
  • Citi: $1.90/share vs $1.84 forecast; revenue, $18.378 billion vs forecast of $17.855 billion;
  • Wells Fargo: per-share earnings of 60 cents missed the $1.12 expected by analysts; earnings totaled $2.87 billion vs $6.06 billion a year earlier; 

Alcoa: misses by a mile.
  • forecast: an adjusted loss of 21 cents/share; sales of $2.5 billion
  • actual: an adjust loss of 31 cents/share; sales of $2.4 billion

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