For Investors Only: Lost In The Correction: Huge Earnings

Lost in the correction, the earnings have been huge. Some misses, but the general tone is very, very good. For quick reference, earnings for some of the companies I follow are one click away. I hope investors are taking advantage of the pullback to accumulate.

Disclaimer: this is not an investment site. Make no investment decisions based on what you read at this blog, or what you think you read at this blog.

Noble yesterday noted 1Q13 net income was up 25%. Huge.

Now, today Union Pacific Railroad announces a record quarter. It blew past quarterly earnings estimates, $2.04 vs $1.96, and had this to report:

• Diluted earnings per share of $2.03 improved 13 percent.
• Operating revenues totaled $5.3 billion, up 3 percent.
• Operating income totaled $1.6 billion, up 8 percent.
• Operating ratio of 69.1 percent improved 1.4 points.
• Despite lower carloadings, operating revenue increased 3 percent in the first quarter 2013 to $5.3 billion versus $5.1 billion in the first quarter 2012.  First quarter business volumes, as measured by total revenue carloads, decreased 2 percent compared to 2012.  Volume declines in coal and agricultural products more than offset growth in chemicals, intermodal and automotive shipments.  Volumes for industrial products were flat versus 2012 driven by a reduction in hazardous waste shipments.  In addition:
  
• Quarterly freight revenue increased 3 percent compared to the first quarter 2012, mainly driven by core pricing gains.
• Union Pacific's operating ratio of 69.1 percent was a first quarter record, 1.4 points better than the first quarter 2012. 
• The average quarterly diesel fuel price of $3.23 per gallon in the first quarter 2013 was flat compared to the first quarter 2012. 
• The Customer Satisfaction Index of 94 set a first quarter record, 1 point better than the first quarter 2012.
• Quarterly train speed, as reported to the Association of American Railroads, was 26.4 mph, flat versus the first quarter 2012. 
• The Company repurchased 2.9 million shares in the first quarter 2013 at an average share price of $136.58 and an aggregate cost of $394 million.

Verizon beats estimates.

The telephone company added slightly more wireless subscribers than expected and saw improved growth in its FiOS home Internet and television service.

Verizon said it added 188,000 FiOS Internet customers and 169,000 FiOS television subscribers in the quarter. Rethemeier had expected 150,000 Internet customers and 125,000 FiOS TV customers.

Its earnings rose to $1.95 billion or 68 cents per share compared with $1.69 billion or 59 cents per share in the year-earlier quarter and analyst expectations for 66 cents per share.