Market Overview

Earnings Roundup

Kohl's Corp (NYSE: KSS) posted a drop in its fourth quarter profit. Kohl's projects Q1 earnings of $0.60 per share and 2012 earnings of $4.75 per share. However, analysts were expecting earnings of $0.77 per share in the quarter and $4.93 per share in 2012. The company raised its dividend by 28% to $0.32 per share. Kohl's quarterly profit declined to $455 million, or $1.81 per share, versus $494 million, or $1.66 per share, in the year-earlier period. Its sales came in at $6 billion. However, analysts were expecting earnings of $1.82 per share on revenue of $6 billion.

Target Corp (NYSE: TGT) posted a decline in its fourth-quarter profit. Target's quarterly profit dropped to $981 million, or $1.45 per share, from $1 billion, or $1.45 per share, in the year-earlier period. Target's adjusted profit came in at $1.49 per share. Its sales gained 3.3% to $20.9 billion. However, analysts were expecting earnings of $1.40 per share on sales of $21.2 billion. Target projects adjusted Q1 profit of $0.97 to $1.07 per share, versus analysts' estimates of $0.96 per share. Target expects full-year adjusted earnings of $4.55 to $4.75 per share, versus analysts' estimates of $4.28 per share.

Hormel Foods Inc (NYSE: HRL) reported a drop in its fiscal first-quarter earnings. Hormel's quarterly net income fell to $128.4 million, or $0.48 per share, from $148.8 million, or $0.55 per share, in the year-ago period. However, analysts were expecting earnings of $0.48 per share. Hormel's net sales surged to $2.04 billion from $1.92 billion. However, sales by volume dropped 2%.

Imax Corp (NYSE: IMAX) reported an in-line fourth-quarter profit. Imax's quarterly net income dropped to $6.3 million, or $0.09 per share, from $54.2 million, or $0.80 per share, in the year-ago period. On an adjusted basis, Imax earned $0.14 per share, in line with analysts' estimates. Imax's revenue dropped 4% to $66.7 million, versus analysts' estimates of $63.4 million.

Sears Holdings Corp (NASDAQ: SHLD) swung to a fourth-quarter loss. Sears posted a quarterly loss from continuing operations of $2.4 billion, or $22.47 per share, versus a year-ago net income from continuing operations of $374 million, or $3.43 per share. Its adjusted earnings dropped to $0.54 per share, from $3.67 per share. Its revenue dropped to $12.5 billion, from $13 billion. However, analysts were expecting earnings of $0.76 per share on revenue of $12.4 billion. Sears also announced its plans to sell 11 stores to General Growth Properties Inc.

Pan American Silver Corp (NASDAQ: PAAS) swung to a fourth-quarter profit. Pan American Silver's quarterly profit came in at $95.4 million, or $0.89 per share, versus a year-ago loss of $6.3 million, or $0.12 per share. Excluding special items, Pan American Silver earned $0.61 per share, versus analysts' estimates of $0.51 per share. Its revenue climbed 8.5% to $212.4 million, versus analysts' estimates of $230 million.

MetroPCS Communications Inc (NYSE: PCS) posted a surge in its fourth-quarter earnings. MetroPCS' quarterly profit climbed to $91 million, or $0.25 per share, from $14 million, or $0.04 per share, in the year-ago period. Its revenue surged 16% to $1.24 billion. However, analysts were expecting earnings of $0.16 per share on revenue of $1.24 billion.

Dish Network Corp (NASDAQ: DISH) posted a 24% rise in its fourth-quarter earnings. Dish Network added 22,000 net subscribers in the recent quarter. Dish Network's quarterly profit surged to $313 million, or $0.70 per share, from $252 million, or $0.56 per share, in the year-ago period. Its revenue surged 13% to $3.63 billion. However, analysts were expecting earnings of $0.61 per share on revenue of $3.62 billion.

Tenaris SA (NYSE: TS) posted a 25% rise in its fourth-quarter earnings. Tenaris' quarterly profit surged to $399.6 million, or $0.68 per American depositary share, versus a year-ago profit of $321 million, or $0.55 per ADS. Its net sales surged 33% to $2.75 billion. However, analysts were expecting a profit of $0.63 per share on revenue of $2.66 billion.

Royal Bank of Scotland Group PLC (NYSE: RBS) swung to a fourth-quarter loss. Royal Bank of Scotland posted a quarterly loss of £1.8 billion, versus a year-ago profit of £12 million. Its revenue dropped to £5.92 billion from £7.14 billion. RBS' core operating profit declined 36% to £1.06 billion from £1.67 billion.

British American Tobacco PLC (AMEX: BTI) posted a 7.5% increase in its profit for the year ended 2011. British American Tobacco's net profit for the period climbed to 3.1 billion pounds ($4.86 billion), from 2.88 billion, in the year-earlier period. Its revenue gained 3% to 15.4 billion pounds, and climbed 7% on an organic basis.

Credit Agricole SA (OTC: CRARY) posted a wider Q4 loss. Credit Agricole posted a quarterly loss of €3.07 billion, versus a year-ago loss of €328 million. Its revenue came in at €4.66 billion. However, analysts were expecting a loss of €2.7 billion.

Safran SA (OTC: SAFRY) posted a 27% surge in its full-year net profit for 2011. Safran's net profit rose to EUR644 million, versus analysts' estimates of EUR685.6 million. Its recurring operating profit jumped 35% to EUR1.19 billion. However, its revenue climbed 9.1% to EUR11.74 billion.

Swiss Re (OTC: SSREF) posted a strong rise in its net profit in 2011. Swiss Re's net profit for the period surged to $2.63 billion, beating analysts' estimates. Its earnings per share surged 157% to CHF6.79, from CHF2.64. Swiss Re announced its plans to raise its dividend to CHF3 per share from CHF2.75 per share.

Deutsche Telekom AG (OTC: DTEGY) projects its operating profit to decline this year. Deutsche Telekom expects earnings before interest, taxes, depreciation, amortization and one-off items, or adjusted EBITDA to drop to about EUR18 billion this year. Deutsche Telekom posted its 2011 operating profit at EUR18.69 billion, versus EUR19.47 billion, in the year-ago period. Deutsche Telekom's net loss in the final quarter came in at EUR1.34 billion, versus a year-ago loss of EUR514 million. Its sales dropped 3.7% in the quarter.

Virgin Australia Ltd (OTC: VBHLF) posted a surge in its first-half profit. Virgin Australia's net profit for the period climbed to A$51.8 million, versus A$23.8 million, in the year-ago period. Its underlying pre-tax profit surged 34% to A$96.1 million, versus analysts' expectations of A$63.4 million.

Posted-In: Earnings RoundupEarnings News Pre-Market Outlook Markets

 

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