Earnings - 4Q14

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Earnings Calendar

All 4Q14 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:

•  CSX, expectation, 49 cents: 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.

General update (dates subject to change)

• AAPL --  Actual: crushes expectations. See this link.  Earlier:  Apple's iPhone 6 and 6 Plus may boost Apple's iPhone sales to a new record in the company's year-ending Q1 2015 quarter, says Morgan Stanley analyst Katy Huberty in a recent investor note. In line with other analyst predictions, Huberty and her team expect iPhone sales in the December holiday quarter to reach as high as 69 million units, eclipsing last year's quarterly record of 51 million units sold in Q1 2014.
  
  Huberty also predicts strong Mac sales based on IDC's estimate of 5.8 million units, well above Morgan Stanley's earlier estimate of 5.2 million units and exceeding the record-setting 5.5 million Macs the company sold in fiscal Q4 2014. While the iPhone and Mac climb, iPad demand year-over-year is expected to remain weak with 22 million units shipped in Q1 2015, down slightly from the 26 million sold in the same quarter of 2014. [For folks unfamiliar with iPads: they last "forever."]
• AA (Alcoa):  -- beats on sales, revenue; expectations, 29 cents; actual, 33 cents;

Earnings Calendar

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

ARII (American Railcar Industries) ($):

Anadarko (APC) ($0.86): reported disappointing fourth-quarter results as it coped with the fallout from sinking oil prices. The Houston-based oil and natural gas company reported a loss of $395 million, or 78 cents per share, for the quarter versus a loss of $770 million, or $1.53 per share, last year. After adjusting for a number of items, it earned 37 cents per share versus 74 cents per share last year. That fell far short of market forecasts — analysts polled by FactSet were anticipating earnings of 80 cents per share.

APA ($0.76):  a fourth-quarter 2014 net loss of $4.8 billion or $12.78 per diluted common share, primarily as a result of after-tax, non-cash charges totaling $5.2 billion. Adjusted earnings, which exclude certain items that impact the comparability of results, totaled $404 million or $1.07 per share. Net cash provided by operating activities was approximately $1.9 billion in the fourth quarter of 2014, with cash from operations, before changes in operating assets and liabilities, totaling $2.1 billion.

AXAS ($):  

AMZG ($): 

BTE.TO (Baytex) ($): 

BAX ($1.31): big beat; fourth-quarter earnings of $953 million. On a per-share basis, the Deerfield, Illinois-based company said it had net income of $1.74. Earnings, adjusted to account for discontinued operations, came to $1.34 per share.

BCEI ($0.27): miss, 24 cents; press release here;

BHI ($1.10): Baker Hughes, which agreed to a merger with rival Halliburton for $34.6 billion in November, reported fourth quarter earnings of $1.19 on an adjusted basis, ahead of analysts $1.10 consensus estimates for the period. 

BK ($0.59):58 cents after adjusted; earnings of 70 cents;

BKH ($0.77):  fourth-quarter earnings of $34 million.On a per-share basis, the Rapid City, South Dakota-based company said it had net income of 76 cents. The energy company posted revenue of $378.1 million in the period. For the year, the company reported profit of $128.8 million, or $2.89 per share. Revenue was reported as $1.39 billion. Black Hills expects full-year earnings in the range of $2.80 to $3 per share.

BWC (Babcock & Wilcox) ($0.44): beats by 21 cents; press release here;

Calfrac Well Services (CFW.TO):

CHK ($0.24): huge miss, 11 cents; beats on revenue; shares slump 10%;

CLNE ($ ): 

CLR ($0.55): big beat, $1.14 (due to one-time items); 

CNR.TO (Canadian National Railway) ($0.97 ):  Canadian National Railway (CNR.TO), expectation, 97 cents; earnings up; raises dividend; Net income rose to C$844 million ($681 million), or C$1.03 a share, from C$635 million, or 76 Canadian cents, a year earlier. Revenue rose to C$3.21 billion from C$2.75 billion. The railway boosted its quarterly dividend by 25 percent, to 31.25 Canadian cents per common share.

CNP ($):   2/26
 
COP ($0.59): ConocoPhillips reports EPS in-line; Co expects to deliver 2-3% production growth in 2015 from continuing operations, excluding Libya: Reports  earnings of $0.60 per share, in-line with the Capital IQ Consensus Estimate of $0.60. Co expects to deliver 2-3% production growth in 2015 from continuing operations, excluding Libya.

CPG.T) (Crescent Point) ($):

CRR ($0.64): profit of 2 cents per share. Earnings, adjusted for asset impairment costs and non-recurring costs, were 70 cents per share. The results beat Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 64 cents per share

CSX ($0.49): 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.


CVX ($1.64): beats; fourth-quarter net income of $3.47 billion, or $1.85 per share, compared with $4.93 billion, or $2.57 per share, a year earlier. Analysts on average had expected earnings of $1.63 per share the second-largest U.S. oil producer, reported a higher-than-expected quarterly profit on Friday as sales of chemicals, lubricants and other refined products helped offset plunging crude prices (CLc1).

DNR ($): forecast 23 cents, before market opens; shares fall 4% in futures; rise after earnings release: fourth-quarter 2014 earnings of 27 cents per share, flat year over year. The bottom line, however, came above the Zacks Consensus Estimate of 23 cents. The outperformance was mainly backed by higher production;
 
DVN ($):    

ECA ($):  

EEP ($):  2/18

ENB ($): misses by $0.03, beats on revs : Reports Q4 (Dec) earnings of CC$0.49 per share, CC$0.03 worse than the Capital IQ Consensus Estimate of CC$0.52; revenues rose 6.1% year/year to CC$8.8 bln vs the CC$8.07 bln consensus.

EOG ($): forecast $1.02, big miss: 81 cents; shares slump after-hours; reports here;

EOX (Emerald; was VOG) ($0.03): meets expectations, 3 cents.

EPD ($0.37):  Enterprise Products misses by $0.01, misses on revs; currently expect growth capital expenditures of ~ $3.5 bln and sustaining capital expenditures of ~$380 mln: Reports earnings of $0.36 per share, excluding non-recurring items, $0.01 worse than the Capital IQ Consensus Estimate of $0.37; revenues fell 22.2% year/year to $10.19 bln vs the $12.85 bln consensus.

ERF ($): shines. Long report here.

ETP ($): 

GEOI (bought by Halcon [HK], below)

HAL ($1.10):

Oilfield services giant Halliburton posted stronger fourth quarter revenue and earnings Tuesday, but warned that slumping crude oil prices had weakened its outlook for 2015.

The company said revenue rose 14.8% to nearly 8.8 billion from $7.6 billion in the fourth quarter of 2014. Net income climbed 13.8% to $905 million from $795 million in the year ago quarter. For the full year, revenue rose 12% to $32.9 billion and adjusted net income rose 28% to $4.02 a share.

HES ($0.29): misses by 5 cents; reported a fourth quarter net loss of $8 million after crude prices fell. Net loss per share was 3 cents, compared with profit of $1.9 billion or $5.76 a year earlier. Per share profit excluding some items was 18 cents, 5 cents below the average estimate

HP ($1.53): Earnings per share from continuing operations (excluding special items) came in at $1.70, above the Zacks Consensus Estimate of $1.57. Revenues of $1,056.6 million was substantially higher than the Zacks Consensus Estimate of $974 million.

HK (Halcon; previously GEOI) ($0.00):  beats by 5 cents; press release here;

Kinder Morgan - KMI ($0.34): expectation 34 cents; Kinder Morgan misses by $0.24, misses on revs; announces Steve Kean will become CEO, 10% increase in dividend (KMI) : Reports Q4 (Dec) earnings of $0.08 per share, $0.24 worse than the Capital IQ Consensus Estimate of $0.32; revenues rose 2.0% year/year to $3.95 bln vs the $4.3 bln consensus. Co announced that its board of directors approved a 10% increase in its quarterly cash dividend to $0.45 ($1.80 annualized) payable on Feb. 17, 2015.

Kinder Morgan - KMP ($):  

KOG ($):  

LEG.TO (Legacy/Bowood) ($): 

LINE ($):  forecast 6 cents; huge miss; shares fall almost 5% in pre-market trading; reports a loss of 47 cents; misses by 52 cents; 

MDU ($0.39): net income of $84.3 million; profit of 43 cents per share. Earnings, adjusted for non-recurring gains and to account for discontinued operations, came to 35 cents per share.

MHR (Magnum Hunter) ($): 

MMR (McMoRan) ( ): 

MPC (Marathon Petroleum ($): 2/4

MPO:  

MRO (Marathon Oil) ($):  forecast 3 cents, shares hold after-hours; looks like 13 cents/share for 4th quarter;

NE (Noble Corp) ($0.50): a fourth-quarter loss of $609.6 million, after reporting a profit in the same period a year earlier. On a per-share basis, the London-based company said it had a loss of $2.44. Earnings, adjusted for asset impairment costs and to account for discontinued operations, were 47 cents per share.

NBL: forecast 34 cents; before market opens; beats by 3 cents;

NBR ($): 2/17

NFX ($): 2/24

NGLS: 

NOG ($0.19): big beat, 95 cents; press release here; shares up;

NOV ($1.60):  reported fourth-quarter earnings of $595 million. On a per-share basis, the Houston-based company said it had profit of $1.39. Earnings, adjusted for non-recurring costs and amortization costs, were $1.84 per share. The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.60 per share.

The oil and gas industry supplier posted revenue of $5.71 billion in the period, which fell short of Street forecasts. Analysts expected $5.72 billion, according to Zacks.

OAS ($0.57): huge miss, 35 cents; press release here;

OKE ($0.36): beat; 45 cents; see this link; 

OKS ($): see this link;

OTTR ($0.45): net income of 28 cents per share. Earnings, adjusted to account for discontinued operations and non-recurring costs, came to 43 cents per share.

OXY ($0.68): core income for the fourth quarter of 2014 of $560 million ($0.72 per diluted share), compared with $1.2 billion ($1.46 per diluted share) for the fourth quarter of 2013. The fourth quarter of 2014 had a reported loss of $3.4 billion ($4.41 per diluted share), compared with income of $1.6 billion ($2.04 per diluted share) for the fourth quarter of 2013. The spin-off of California Resources Corporation was completed on November 30, 2014, and its financial and operational results have been classified as discontinued operations.

PAA ($0.61): fourth-quarter earnings rose 26% as lower costs offset weaker revenue and the master-limited partnership lowered the midpoint of its 2015 profit outlook. For 2015, Plains All American Pipeline now expects the midpoint of its estimate for earnings before interest, taxes, depreciation and amortization, excluding certain items, will be $2.35 billion, compared with its previous view for just over $2.5 billion. profit of $389 million, or 67 cents a limited partner unit, up from $309 million, or 58 cents a unit, a year earlier. Excluding items, per-unit earnings fell to 60 cents from 76 cents. Revenue fell 11% to $9.46 billion.

PSX ($1.34):  $2.05 per share; fourth-quarter earnings of $1.1 billion, compared with earnings of $1.2 billion in the third quarter of 2014. Adjusted earnings, excluding special items of $234 million, were $913 million in the fourth quarter, compared with adjusted earnings of $1.1 billion in the third quarter of 2014.

PXD (Pioneer Natural Resources) ($):  2/10

QEP ($0.25): forecast 25 cents; miss, 22 cents; shares slump;

RRC (Range Resources):2/24

RIG ($):

SBUX (Starbucks) ($0.80): Press release: 80 cents; in line;

SD ($0.00): big beat; 8 cents; press release here;

SLB ($1.46): Actual: 23 cents. How can analysts get it so wrong?

The Houston, Texas-based company reported a profit of $302 million, or 23 cents per share, down from $1.66 billion, or $1.26 per share, a year ago. Fourth quarter revenue rose 6% from a year ago to $12.64 billion.

Wall Street analysts expected earnings of $1.46 per share and revenue of $12.72 billion.

SM ($1.09): forecast $1.09, misses by 5 cents; $1.05/share; shares hold;

SRE ($1.09): nice beat; beats by 14 cents at $1.23; Zacks here;

SRGY:

SSN:

STO (BEXP) ($):  
 
STR ($): forecast 38 cents, after market close; shares hold after-hours; record earnings for 2014; looks like 35 cents per share 4Q14; announces quarterly dividend to increase 11% and raises target payout ratio to 65%;

T ($0.55): posts slight beat;The second-largest U.S. wireless carrier posted a net loss of $4 billion, or 77 cents per share, in the fourth quarter, compared with net income $6.9 billion, or $1.31 per share, a year ago.  Shares in AT&T were up 2 percent in after-hours trading after closing at $32.81 on the New York Stock Exchange. AT&T said it had added more than 2 million new wireless customers and 854,000 contract subscribers in the quarter.

Targa Resources (TRGP): $108.2 million in net income, or 58 cents per partnership unit, in the October-December period, compared to $108.6 million, or 70 cents per unit, in the same year-ago period.

TPLM ($):

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.

TransCanada (TRP.TO) ($): 

Ultra Petroleum (UPL) ($): 

UNP ($): 1/22

USEG ($): 

VLO ($1.32):  beats by $0.51, reports revs in-line : Reports Q4 (Dec) earnings of $1.83 per share, $0.51 better than the Capital IQ Consensus Estimate of $1.32; revenues fell 19.1% year/year to $27.86 bln vs the $27.64 bln consensus.

WDFC: 

WFT ($0.23):  net income before charges of $252 million ($0.32 diluted earnings per share non-GAAP) on revenues of $3.73 billion for the fourth quarter of 2014.

WHX:  

WHZ:

WLL ($0.50): misses, 44 cents; shares rise; press release here;     

WMB ($): forecast 23 cents, up slightly after hours; looks like 26 cents/share 4Q14 but lots of data at this link;

WPX (-15 cents): huge beat; earns 3 cents/share; Zacks here;

XOM ($): Fourth quarter earnings were $6.6 billion, or $1.56 per diluted share, down from $8.4 billion in the year-ago quarter.

XLNX ($0.61): Xilinx beats by $0.01, misses on revs; guides Q4 revs below consensus : Reports Q3 (Dec) earnings of $0.62 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus Estimate of $0.61; revenues rose 1.2% year/year to $594 mln vs the $616.59 mln consensus. Co issues downside guidance for Q4, sees Q4 revs of approx $558-582 mln vs. $635.48 mln Capital IQ Consensus Estimate. Gross margin is expected to be approximately 68% to 69%. Xilinx sees Mar qtr sales are expected to be down 2% to down 6% sequentially; expectation was for 3% increase (consensus revenue equates to 7% increase off Dec. qtr actual)