Earnings - 3Q14

Earnings Calendar

All 3Q14 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.

Comment:

Miscellaneous articles:

•  Earnings forecasts slashed -- as earnings season kicks off -- October 8, 2014.

General update (dates subject to change)

• AAPL -- Oct 20 -- wow, it's so much fun going back and reading all the negative comments about Apple. Freudenschade, I believe, is the word. Not the best word, but close enough. At $1.42 far exceeded estimates, and "guides strongly."
• Alcoa:  -- Oct 8 -- expectations, 23 cents; actual, 31 cents. When I saw this, I mentioned to Don that this was very, very impressive. I'm glad to see others agree. Yahoo!Finance in the headline called it a "solid beat." The reason for Alcoa's numbers:

Alcoa, which is shifting its focus to manufacturing components and alloys, said it would deliver a record amount of aluminum sheet to automakers this quarter as car and truck manufacturers use more of the lightweight metal. Earnings in the company’s rolled-products segment, a supplier of aluminum sheets to car, airplane and packaging manufacturers, will more than double from a year earlier, the New York-based company said today in a slide presentation.

Alcoa is benefiting from higher commercial-jet orders and a shift to aluminum components instead of steel among automakers such as Ford Motor Co., which plans to make its F-150 pickup truck with aluminum body panels.

“Auto body sheet has a much higher margin than anything except aircraft,” Lloyd O’Carroll, a Richmond, Virginia-based Analyst at Northcoast Research Holdings LLC who recommends buying Alcoa shares, said in an interview. “I think 2015 is going to get a pretty big lift of usage on the F-150 and of course all of the margin benefit of that.”

• Wells Fargo: 
• B of A: a 9-cent loss; revised from an early 32-cent gain; 
• NFLX: at 96 cents earnings exceeded expectations of 93 cents; new customer numbers fell short; stock feel 25% (from $448 to $339 after-hours/after earnings came out) 

Earnings Calendar

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

American Railcar Industries:

APA ($ ): Nov 6

AXAS ($0.15 ): meets forecasts; AP story here;

AMZG ($ ): 

Baytex ($ ): 

BAX ($1.31 ):  beats by five cents; transcript;

BCEI; after market close; 51 cents; misses; 46 cents;

BHI ($1.14): misses; $1.02, transcript;

BK ($0.61 ): Oct 17 

BKH:  Nov 3

Calfrac Well Services (CFW.TO), before market open; 41 cents; 51 cents; press release here; 

CHK ($0.33): AP; beats by 5 cents; 38 cents;

CLNE ( ): Oct 23

CLR ($0.81):

Continental Resources Inc, the largest oil producer in North Dakota's Bakken shale formation, said on Wednesday its quarterly profit soared due to a gain on derivatives and higher output. The company posted third-quarter net income of $533.5 million, or $1.44 per share, compared with $167.5 million, or 45 cents per share, in the year-ago period. 

CNI (Canadian National Railway) ($ ): 

CNP ($0.30): press release; beats by 3 cents;
 
COP ($1.20): beats by 10 - 12 cents; shares flat.

Crescent Point (CPG.TO); before market open: 42 cents; adjusted profit rises 10%;

CRR ($0.75 ):  beats by 8 cents; shares fall.

CVX ($ ): quarterly profit jumps 13%. From Reuters:

The company posted net income of $5.59 billion, or $2.95 per share, compared with $4.95 billion, or $2.57 per share, in the year-ago period.

Production fell nearly 1 percent to 2.57 million barrels of oil equivalent per day as new wells failed to offset declines at old wells.

DNR ($0.26 ): AP; meets/beats; 26 cents;
 
DVN ($1.24 ):   beats by 11 cents; output jumps 19 percent;

ECA ($ ):  

EEP ($ ):  Nov 3

ENB ($0.38): beats by 2 cents; press release;  

EOG ($ ): press release; $1.31;

EOX (Emerald) ($ ): Nov 3 

EPD ($0.37 ):   in-line; misses on revs; shares down a bit.

ERF ($ ):

ETP ($0.65): lackluster earnings; Natural gas pipeline operator Energy Transfer Partners LP reported third-quarter 2014 earnings of 44 cents per limited partner unit, lagging the Zacks Consensus Estimate of 66 cents.

GEOI (bought by Halcon [HK], below)

GMXR:

HAL ($1.10 ): Also blew away earnings estimates at $1.19; raises dividend. What's not to like?

HES ($ ): beats estimates; Bakken production surges; shares up:

Hess posted a better-than-expected quarterly profit on Wednesday as production jumped in North Dakota's Bakken shale formation.

Net income surged to $1 billion, or $3.31 per share, in the third quarter from $420 million, or $1.23 per share, in the year-ago period.

Excluding recent asset sales and other one-time items, the company posted profit of $1.24 per share.

HP ($ ): Nov 13

HK (Halcon; previously GEOI) ($0.06 ):  Halcon resources with a big miss, 3 cents vs 6 cents forecast. Press release.  Halcon operates 8 rigs acorss its holdings; Halcon will cut five rigs originally planned for 2015. Currently operating 3 rigs in the Bakken. Snapshot here.

Kinder Morgan - KMI ($.34 ): Oct 15

KMI’s board of directors announced an increase in the quarterly cash dividend to $0.44 per share ($1.76 annualized), up 7 percent from $0.41 per share ($1.64 annualized) for the same period last year, payable on Nov. 17, 2014, to shareholders of record as of Oct. 31, 2014. 

Kinder Morgan - KMP ($ ):  misses; 57 cents; ups dividend;

KOG ($0.20 ): 15 cents; misses;

Legacy/Bowood ($ ): 

LINE ($0.41 ): actual, 53 cents; press release;

MDU ($ ): transcript; misses by 4 cents; will spin off Fidelity;

MHR (Magnum Hunter) ($ ): 

MMR (McMoRan) ( ): 

MPC (Marathon Petroleum ($ ): Oct 30

MPO: see this post; beats by 18 cents;

MRO (Marathon Oil) ($ ): misses by 3 cents;

NBL: Oct 28

NBR ($ ): Oct 21

NFX ($ ): meets by one cent;

NGLS: Nov 4

NOG ($0.26 ): in-line; beats on revs;

NOV ($1.53 ): beats by 7 cents; shares fall;

PAA ($0.52): reported third-quarter 2014 adjusted earnings of 49 cents per unit, missing the Zacks Consensus Estimate of 51 cents by 3.9%. 

OAS ( $ ):  huge miss; misses by 19 cents;

OKE ($ ): beats by a penny;

OKS ($ ): missed by 24 cents;

OTTR ($ ): Nov 3

OXY ($ ):  Oct 27

PAA ($0.52):  reported third-quarter 2014 adjusted earnings of 49 cents per unit, missing the Zacks Consensus Estimate of 51 cents by 3.9%.

PSX ($ ): profit doubles; beats by 27 cents; costs slide;

Pioneer Natural Resources (PXD): $1.35; announces public offering of 5.75 million shares; beats by 10 cents;

QEP ($0.28):  the company reported earnings per share – adjusted for special items – of 41 cents, up 14% from the prior-year quarter level of 36 cents. The bottom line also beat the Zacks Consensus Estimate of 28 cents.

RRC (Range Resources): Oct 29

RIG ($ ): 

SD ($ ): Nov 5

SLB ($ ): beats by 3 cents; stock moves up nicely;

SM ($ ): beats by two cents;

SRE ($1.24 ): beats by 16 cents; profit rises 16%;

SRGY:

SSN:

STO (BEXP) ($ ):  

STR ($ ): beats by 4 cents;

Starbucks ($ ): Oct 30

T ($.65 ): Oct 22

Targa Resources (TRGP): press release;

TPLM ($ ):  

TransCanada (TRP.TO) ($ ): 

Ultra Petroleum (UPL) ($ ): 

UNP ($ ): Oct 23

USEG ($ ): 

VLO ($1.57): beats by 45 cents;

VOG: 

WDFC: beats by 13 cents; stock surges;

WFT ($ ): Oct 22

WHX:  

WHZ:

WLL ($ ): which is it?

• AP headline: Whiting misses Street 3Q forecasts ($1.24 vs $1.25)
• Reuters: Whiting profit beats Street as North Dakota output jumps; 

Whiting Petroleum Corp posted a higher-than-expected quarterly profit on Wednesday as production rose 33 percent at its North Dakota wells. Denver-based Whiting posted net income of $158 million, or $1.32 per share, compared with $204 million, or $1.71 per share, in the year-ago period. Excluding one-time items, the company earned $1.24 per share. By that measure, analysts expected earnings of $1.21 per share, according to Thomson Reuters I/B/E/S.

WMB ($ ):  misses by 3 cents but confirms dividend-growth guidance of ~ 15% annually -- from the higher 3Q14 base -- through 2017 with planned dividends of ~ $1.96 in 2014, $2.46 in 2015, $2.82 in 2016, $3.25 in 2017. Shares surge over 3%.

WPX ($ ): Williams Cos profit soars; boosted by Access Midstream stake; shares up 2%

XOM ($1.71 ): quarterly profit rises 3%. From Reuters:

Profit in the third quarter rose to $8.07 billion, or $1.89 per share, from $7.87 billion, or $1.79 per share in the year-ago period.

Analysts, on average, expected a profit of $1.71 per share.

Oil and gas production fell 4.7 percent. Exxon said it remained on track for full-year output of 4 million barrels oil equivalent per day (boed).

XLNX ($0.56 ): beats by 7 cents; stock surges; transcript;