Sunday, January 12, 2020

4Q19 Earnings

Note: this is, hands down, one of the most boring things I to do each quarter. I doubt anyone really looks at it but the day I quit doing this will be the day I miss posting something important. The word "important" is used loosely. Very loosely.

This is linked at the top of the sidebar at the right during earnings season. After earnings -- pretty much after Whiting and Apple posts their earning, this post will move back into obscurity.

Disclaimer: this is not an investment site.

Earnings -- 4Q19

This is not an investment site. Do not make any investment, financial, job, travel, or relationship decisions based on what you read here or what you think you may have read here. If this is important to you, go to the source. There will be content and typographical errors on this page. If something looks wrong, it probably is.

CLR: full press release here.

Daimler Benz: crashes and burns; huge loss; slashes dividend

BA: huge loss against forecast of a gain. Stock drops day before; after earnings report, shares surge. Report here. Also here.

AAPL: best quarter ever. Shares surge.

MDU: great quarter; shares unchanged.

F: tanks; bad, bad report. 

BA: not related to earnings, but a bad day for Boeing, January 21, 2020 -- dropped $10.78 during the day and another $2.67 after hours. Down about 11% for the day; 737 MAX will be further delayed;

FuelCell: wider-than-expected losses; revenue misses forecasts; stock tumbles 23%. It's a penny stock; trading at $2.13, it fell 75 cents or 26%. This tells me all I need to know about recent oilprice article suggesting hydrogen costs could drop by 50% in the long run. 

Earnings season begins: off to the races and right out of the gate -- BAX --

Netflix: on a day that the Dow slumps 150 points,
Netflix reports that it added 8.8 million subscribers despite growing competition; shares up almost $6.00; up 1.85%; earnings exceed estimates, up 31% year-over-year, and more or less in line with predictions of $5.25 billion; GAAP earnings of $1.47/share vs analyst estimates of $1.05/share.
IBM: after-hours, surged $5.59, up 4.02%;
forecast full-year profit above market expectations on Tuesday after reporting surprise growth in quarterly revenue, boosted by its high-margin cloud computing business, sending its shares up more than 4%.
The company forecast an adjusted profit of at least $13.35 per share for the year, compared with estimate of $13.29.
IBM reported adjusted gross profit margin of nearly 52% for the quarter, a rise of 230 basis points, which was its largest in more than 10 years.
Schlumberger: stock surges after profit, revenue beat expectations.
Adjusted EPS came in at 39 cents vs 37 cents forecast. Net income fell to $333 million of 24 cents/share, from $538 million, or 39 cents/share in the same period a year ago. Revenue rose to $8.32 billion from $8.18 billion, beating a forecast of $8.16 billion. Free cash flow was $1.5 billion for the quarter and $2.7 billion for the year. From a year ago, 4Q18: SLB: beat/meet; stock surges; 36 cents vs 36 cents forecast; revenues of $8.18 billion vs expectations of $8.06 billion.
Baker Hughes: income fell to 7 cents/share; $48 million, from 28 cents/share year ago/$131 million.
Adjusted earnings grew to 27 cents from 26 cents; but below the consensus of 31 cents.
CSX: revenues drop 8% year-over-year; due to loss of coal shipments; shares dropped 2.5% on the news; guidance not good.

  • BK: beats estimates, but barely; $1.01 vs 99 cents; layoffs continue; will spend huge amount on tech in new year; shares plunge 8%; 
  • Morgan Stanley: $1.30/share on $10.9 billion in revenue; topping analyst expectations of $1.02/share on $9.8 billion. 
  • JP Morgan earnings crushed analysts' estimates; best year ever in the history of any bank, ever; profit rose 21% to $8.52 billion or $2.57/share; forecast, $2.35/share; revenue of $29.2 billion vs estimate of $27.94 billion;
  • Citi: $1.90/share vs $1.84 forecast; revenue, $18.378 billion vs forecast of $17.855 billion;
  • Wells Fargo: per-share earnings of 60 cents missed the $1.12 expected by analysts; earnings totaled $2.87 billion vs $6.06 billion a year earlier; 

Alcoa: misses by a mile.
  • forecast: an adjusted loss of 21 cents/share; sales of $2.5 billion
  • actual: an adjust loss of 31 cents/share; sales of $2.4 billion
CMCSA (Comcast): huge pre-market but then plunged almost 4% during / after earnings call; link here.
  • cord-cutting will get worse
  • less-then-stellar numbers (mostly due to "Cats")
  • good news: 
    • adding broadband customers at record rates;
    • young wireless service on way to being profitable
    • NBCU is getting ready to debut new theme parks and attractions
  • will focus on those that don't mind paying more for a "premium experience" with its next-generation, set-top box X1
  • Comcast added enough new broadband subscribers to more than offset its video subscriber losses, bringing on 1.1 million new customers in 2019, a record high;
  • Peacock: free; but not quite
  • Comcast's Xfinity Mobile: cell phone service launched two and a half years ago
    • 2 million customer lines
    • added 816,000 in 2019
    • added 854,000 in 2018
  • big addition at theme park in Japan: Super Nintendo World
  • comments: mixed bag; what I particularly don't like: a set-top box; what I also don't like: multi-tier pricing

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