1Q16 Earnings

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Earnings Calendar

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 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.

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May 10, 2016

SCTY: crashes; shares fall 25%. 

While SolarCity reported much stronger growth than anticipated, there wasn't much else for investors to be happy with in the first quarter.

The company had forecast it would deploy 180 MW in the quarter, good for 18% growth, but instead it delivered 214 MW, up 40% from last year. However, its sales and marketing team only booked 160 MW of new business in the quarter, as the company spent the first few months of the year navigating a number of challenges, including the loss of Nevada as a key growth market, as well as changing regulations in numerous key solar states and the extension of the federal solar tax incentive. 

The uncertainty in the first quarter that drove weak bookings also meant the company's cost-per-watt -- the measure of how much its different expenses, such as sales/marketing, installation, and general/administrative, cost in on a per-watt basis each period -- jumped to its highest level in two years. The biggest driver by far was the company's sales expense, which, on a per-watt basis, nearly doubled to $0.97 per watt and was up 46% in total dollars. The biggest concern here is that management had committed only a few months back to start backing off on its sales/marketing expense growth. 

While this increase is certainly concerning, the bigger catalyst behind today's drop was the reduced guidance for the full year. When SolarCity reported 2015 full-year earnings, management guidance for 2016 included 1.25 GW of capacity installed this year.

Unfortunately, the very weak bookings in the first quarter led management to acknowledge that it will be difficult to "make up" for lost time before the end of the year. The updated guidance is for 1.0-1.1 GW for the full year.

May 9, 2016

Halcon (HK): a $540 million loss; a loss of $4.72/share; remove non-recurring losses and earnings come in at a loss of 21 cents/share; huge miss: forecast a loss of just one cent per share. But worse, analysts forecast revenue of almost $200 million; in fact, barely made $80 million;

NOG: forecast 4 cents/share; after removing non-recurring costs, only a one cent/share loss; with non-recurring costs, a huge $2.08/share loss; revenues of $21 million, falling short of forecast; 

Oasis (OAS): 40 cents/share but with non-recurring costs, a loss of just 18 cents/share; in-line; but revenues a huge miss; forecast $160 million vs only $130 actual; shares rose;

Tyson Foods (TSN): exceeds expectations; raises guidance; huge beat: 14 cents better than expected, from 96 cents forecast to $1.10 actual; 

May 5, 2016

CHK: quarterly loss narrows; will sell some acreage to Newfield Exploration for $470 million; reported a $1.44/share loss vs $5.72/share loss one year earlier.

DNR (Denbury): beats by 4 cents; misses on revenue;

EOG: will report after market closes; forecast -- a 84 cent/share loss; actual -- 86 cents/share loss; worse than expected; press release here; transcript here;

OXY: wider loss than expected; 41 cents/share loss vs 29 cents/share loss forecast; that was the Zacks report; here's the WSJ report:

Occidental reported a profit of $78 million, or 10 cents a share, compared with a loss of $218 million, or 28 cents a share, a year prior.

The company posted a $203 million income-tax benefit in the latest quarter, compared with $19 million a year earlier, and income from discontinued operations of $438 million, compared with a $3 million loss from discontinued operations in the year-earlier period.

May 4, 2016

CLR: losses bigger than expected; a net loss of 54 cents per share; forecast 36 cents/share;
SRE: huge miss; $1.27 vs $1.47 forecast.
TSO: beats expectations despite $100 million in refining division;
WMB: reports weak earnings; 3 cents vs 10 cents forecast;

May 3, 2016

MDU: huge beat. First-quarter net income of $24.7 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the company had a  profit of 13 cents. Earnings, adjusted for non-recurring costs, were 17 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.

OKE: misses by 2 cents; profit of 40 cents; Oneok shares have increased 45 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 1 percent. In the final minutes of trading on Tuesday, shares hit $35.79, a decline of 26 percent in the last 12 months.

S: adds more phone customers than ATT, Verizon, but quarterly loss exceeds forecasts. 

Sprint's $8.07 billion in revenues exceeded forecasts of $8.02 billion, and the company reported progress in reducing costs. A loss of 14 cents per share was worse than FactSet's consensus forecast of loss of 12 cents per share, however. While the company has raised billions to address upcoming maturities, questions about Sprint's ability to grow into its balance sheet persist.

April 29, 2016

From the AP:

Exxon Mobil Corp.  on Friday reported first-quarter earnings of $1.81 billion.
On a per-share basis, the Irving, Texas-based company said it had profit of 43 cents.

The results exceeded Wall Street expectations, but Exxon does not adjust its reported results based on one-time events such as asset sales. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share.

CVX: forecast, a 20-cent/share loss; huge miss; loss was actually 39 cents;
TransCanada (TRP.TO): forecast, a 66 cent/share profit; posts profits; profit falls 35%; in-line, 66 Canadian pennies reported when one-time items removed; LOL;

April 28, 2016

Aetna: forecast $2.23; actual: $2.30.

Baxalta: forecast, $0.46; set to merge with Shire; beats, 47 cents.

CARBO Ceramics (CRR): a loss of 89 cents/share forecast; misses by 17 cents; huge miss; stock tanks;

LNG (Cheneire): a loss of 43 cents/share forecast;

COP: a loss of $.105 forecast; lower than expected loss; beats by 10 cents;

EPD: 32 cents forecast; in-line at 32 cents;

Ford: huge beat; forecast, 48 cents; huge day; best quarter since 1903; an incredible 68 cents/share

Marathon Petroleum Corp (MPC): forecast a profit of 15 cents/share; huge miss, at 6 cents;

NOV (National Oilwell Varco): a loss of ten cents forecast; loss narrower than expected; a loss of 6 cents;

April 27, 2016

HES: loss not as bad as expected; 

BHI: Wow! Talk about missing a forecast, from Zacks:

Baker Hughes posted wider loss than the consensus. Loss per share from continuing operations (excluding special items) came in at $1.58, higher than the Zacks Consensus Estimate of 33 cents loss per share. This also came wider than the year-ago quarterly loss of seven cents per share.

Facebook, after market close, 62 cents/share forecast. Shatters forecast: 77 cents;.

First Solar, after market close, 93 cents/share forecast; link; hug beat -- $1.66! Wow.

QEP, after market close, a 60-cent loss/share forecast; link; record crude production at 56,900 bopd; increased development inventory in the Williston Basin; a huge net loss of $4.55/share.

STR, after market close, 51 cents/share forecast. Will merge with Dominion Resources.

Whiting, after market close, a 72-cent loss/share forecast; link; huge miss; a loss of 85 cents/share.

Xilinx, after market close, 52 cents/share forecast; link; beats at 54 cents; sales down 7%; will increase cash dividend from 31 cents to 33 cents.

April 26, 2016

AAPL, after market close, forecast $2.00; this could be the first year-over-year decline in revenues since 2003; CNBC; huge miss; will increase dividend 10%:

Apple reported quarterly earnings and revenue that missed analysts' estimates on Tuesday, and its guidance for the current quarter also fell shy of expectations.

The tech giant said it saw fiscal second-quarter earnings of $1.90 per diluted share on $50.56 billion in revenue. Wall Street expected Apple to report earnings of about $2 a share on $51.97 billion in revenue.

That revenue figure was a roughly 13 percent change against the comparable year-ago period — representing the first year-over-year quarterly sales drop since 2003.

ATT, after market close, forecast 69 cents; revenue jumps 24% on DIRECTV acquisition; beats forecasts; 72 cents/share;
Baxter: forecast 29 cents; huge beat at 36 cents; 

Chipotle Mexican Grill (CMG) will report after market close, forecast 95 cents loss; first quarterly loss; sales tumble almost 30%; loses way less than expected; loses 88 cents/share;

Edwards Lifesciences (EW), after market close, forecast 66 cents; press release; sales grow 18%; adjusted EPS grew 25% to 71 cents; GAAP EPS was 66 cents; guidance raised

April 21, 2016

Alphabet, misses; huge miss on revenue. Spending too much on intermittent energy science projects:

• Alphabet shares fell in Thursday after-hours trade after the company reported earnings and revenue that fell short of analyst expectations
• Analysts expected Google-parent Alphabet to report earnings of about $7.97 a share on $20.37 billion in revenue
• Alphabet reported earnings per share excluding certain items of $7.50
• Alphabet reported $17.26 billion in revenue

MSFT, misses; 62 cents vs 64 cents forecast.

• Microsoft reported quarterly earnings missed analysts' expectations on Thursday, while revenues came basically in line
  
• The technology company posted fiscal third-quarter earnings per share of 62, compared to 61 cents a share in the year-earlier period. Revenue for the quarter came in at $22.07 billion, against the comparable year-ago figure of $21.73 billion
• Analysts expected Microsoft to report earnings of 64 cents a share on $22.09 billion in revenue

Starbucks (outstanding report)

• Global comparable store sales increased 6%, comprised of a 4% increase in ticket and 2% increase in traffic 
• Consolidated net revenues grew 9% to a Q2 record $5.0 billion Consolidated GAAP operating income increased 11% to a Q2 record $864 million Non-GAAP operating income increased 11% over Q2 FY15 non-GAAP, to a Q2 record $878 million Consolidated GAAP operating margin increased 30 basis points to a Q2 record 17.3% 
• Non-GAAP operating margin expanded 30 basis points over Q2 FY15 non-GAAP, to a Q2 record 17.6% EPS increased 18% to a Q2 record $0.39 per share 
• The company opened 350 net new stores globally, bringing total stores to 23,921 worldwide at the end of Q2 
• Starbucks served nearly 16 million more customer occasions from its global comp store base - and over 12 million more customer occasions in the U.S. - in Q2 FY16 compared to Q2 FY15 
• Membership in the company's Starbucks Rewards loyalty program increased 16% year-over-year and 8% in Q2 versus Q1 FY16; company now has 12 million active loyalty members in the U.S. 
• Mobile Order and Pay usage doubled year-over-year; company now processing 8 million Mobile Order and Pay transactions per month

BK:

Bank of New York Mellon Corp., the custody bank under pressure from activist investors to improve results, reported a 5 percent increase in first-quarter profit as it cut expenses and benefited from higher interest rates in the U.S.

Net income rose to $804 million, or 73 cents a share, from $766 million, or 67 cents, a year earlier.

Analysts had expected earnings of 67 cents a share.

UNP:

The Omaha, Nebraska-based company said it had profit of $1.16 per share.

The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.09 per share.

The railroad posted revenue of $4.83 billion in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $4.9 billion.

VZ:

Earnings of $1.06 per share, in-line; revenues rose 0.6% year/year to $32.17 bln vs the $32.48 bln forecast. Excluding AOLwhich was not part of Verizon a year ago, total operating revenues declined 1.5 percent. AOL had its highest first-quarter revenues in the last five years. New revenue streams from IoT (Internet of Things) are growing, with revenues of ~$195 million in first-quarter 2016, a year-over-year increase of about 25 percent. 

April 14, 2016

DAL: huge beat

Delta Air Lines Inc. reported first-quarter profit of $946 million.

On a per-share basis, the Atlanta-based company said it had net income of $1.21. Earnings, adjusted for non-recurring costs, were $1.32 per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.29 per share.

April 12, 2016

CSX:

CSX Revenue Falls 14% as Coal Shipments Continue to Drop Railroad expects coal volume to decline more than 20% in 2016.

Revenue fell in the first quarter, as the volume of coal shipments, a key metric for railroads, dropped 31% to continue a trend that has hurt the top line for several quarters.
In February, the Jacksonville, Fla., railroad said earnings in the latest quarter would drop significantly as the railroad expected volume to decline in the mid-to-high single digits.

On Tuesday, CSX reported that total volume was down 5% for the quarter.

CSX expects coal volume to decline more than 20% in 2016 and see most other markets also declining year-over-year. Some 20% of CSX’s revenue last year came from coal versus an industry average of about 15%.

April 11, 2016

Alcoa: Alcoa, the S&P 500's first reporting company, released earnings after the closing bell on Monday (April 11, 2016).

The company reported revenue of $4.95 billion, down 15% from the comparable quarter and 6% from the fourth quarter of 2015. EPS were also lower as expected, down 75% to 7 cents from the comparable quarter's 28 cents.