3Q18

Earnings season begins. 

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Earnings -- 3Q18

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Earnings Calendar

November 8, 2018: 

DNR, forecast -- 11 cents;

NOG, forecast -- 11 cents; it was 4 cents one year ago; 

November 5, 2018: 

• OAS, forecast -- 13 cents; actual --  Link over at SeekingAlpha: press release here; transcript, here;

• non-GAAP EPS, 8 cents, misses by 4 cents
• GAAP EPS, 20 cents, beats by 8 cents

November 2, 2018:

• Hess: posted its first profit in about four years; easily beat estimates; slashed costs by 62%;
• XOM: huge beat; XOM/CVX here;
• CVX: huge beat; XOM/CVX here; and, here;
• EOG: beats
• Shell: one of its strongest quarters ever. 

November 1, 2018:

•  EOG: huge; income of $1.2 billion vs $101 million one year ago;
  
• AAPL: EPS, $2.91 vs; 2.78; revenue, $62.9 billion vs $61.6 billion; huge beats; 46.9 million iPhones sold vs 47.5 million forecast; average selling price of iPhone, $793 vs Wall Street expecting, $751; AAPL shares down 5%; analyst: unhappy with iPhone sales (LOL) and guidance; 

• Starbucks: beats across the board; SBUX up 7.5% after earnings released; this will generate a lot of talk tomorrow;

• CBS: beat on top and bottom; shares up about a percent after earnings released; "best 3rd quarter ever";

• Kraft Heinz: misses earnings; beats on revenue; shares plunge; down 6.5%; continues its yearly downtrend; in the food space, only Campbells has done worse; this will generate a lot of talk tomorrow;

• Shell: profit surges; 

Shell said its quarterly profit on a current cost-of-supplies basis—a number similar to the net income that U.S. oil companies report—was $5.6 billion, up from $3.7 billion a year earlier.

Still, on an adjusted basis, its results came in slightly below the company-provided analyst consensus.

Investors, still burned from the sharp decline in oil prices in 2014, have taken a tough line on such surprises in recent quarters. Shares in the company were down nearly 3% in early London trading, weighed down by the price of oil. The price of international Brent crude futures have slid from a four-year high earlier this month and the market is continuing to sell off.

October 31, 2018:

• BP: doubles profit; best quarterly results in over five years; may be able to pay for BHP acquisition in all cash.
• GM: beats; sees great full year; shares surge 10%;
• EPD: beats; shares up 2%
• MDU: 55 cents/share vs 46 cents/share last year; and, lots of other ways of reporting the data; with a Zacks forecast of 56 cents, it looks like MDU missed by a penny; SeekingAlpha says MDU beat by a penny;
  

October 30, 2018:

• GE: cut its 24-cent dividend to 12 cents in September, 2017; today it cut its 12-cent dividend to one penny; will save the cash-starved company around $4 billion; and, it's actually worse than it looks;  misses on both revenues and earnings; a loss of $1.15 vs earnings of 39 cents yoy; adjusted, earnings were 27 cents but that still missed estimate of 28 cents (wow); revenues? $31 billion for the quarter but missed estimates of 32 billion; wow
• Baker Hughes, BHGE: misses on both earnings, and revenue
• KO beats 
• OKE: beats; huge; as expected; link here; 
• Facebook: flat; beats on earnings; misses slightly on revenue; I honestly don't think analysts know what to do

October 29, 2018:

• CLR: 3Q18 results; Bakken production, 167,643 boepd; added two rigs to the Bakken; now with eight; many records set; earnings beat expectations

October 25, 2018: TSLA, COP huge.

October 22, 2018: the banks report today. Prior to market opening, stocks were up; now, early morning trading, market continues its downward trend, down 105 points on the Dow (irrelevant).  HAL revenue, profits beat but shares down 2%;

October 19, 2018: SLB, nice earnings, revenues miss; overall: uninspiring.

October 18, 2018: BK -- CEO says "mixed results." Just a year ago this stock paying 19 cents/share; then 24 cents; now 28 cents/share (second quarter to pay this amount).

October 17, 2018: KMI, adjusted 21 cents vs 15 cents previous year; EPS of 31 cents soundly beat estimates of 22 cents; included sale of TransMountain

October 16, 2018

• IBM: misses on revenue; falls 4%
• Netflix: CNBC senior analyst seems surprised by Netflix beat. Huge. On all levels. Netflix up 14%; up $49; now trading at $395.

 

Later, at the close: