Market Overview

Earnings Roundup

Lowe's Companies Inc (NYSE: LOW) posted a rise in its fourth-quarter profit. Lowe's quarterly profit climbed to $322 million, or $0.26 per share, from $285 million, or $0.21 per share, in the year-ago period. The latest quarter results included one-time charges of $0.03 per share. Its revenue climbed 11% to $11.6 billion. However, analysts were expecting a profit of $0.24 per share on sales of $11.3 billion. Lowe's projects 2013 earnings between $1.75 and $1.85 per share, versus analysts' estimates of $1.81 per share.

AES Corp (NYSE: AES) posted a narrower fourth-quarter loss. AES also cut its full-year adjusted earnings forecast to $1.22 to $1.30 per share, versus its earlier forecast of $1.27 to $1.37 per share. AES posted a quarterly loss of $209 million, versus a year-ago loss of $436 million. Its earnings from continuing operations dropped to $0.12 per share from $0.16 per share. Excluding special items, AES' adjusted earnings came in at $0.23 per share. However, analysts were expecting earnings of $0.22 per share. AES' revenue climbed 0.9% to $4.27 billion. Its gross margin rose to 25.7% from 24.3%.

Charter Communications Inc (NASDAQ: CHTR) posted a wider-than-expected fourth-quarter loss. Charter Communications posted a quarterly loss of $67 million, or $0.63 per share, versus a year-ago loss of $85 million, or $0.75 per share. Its revenue rose 2.8% to $1.83 billion. However, analysts were expecting a loss of $0.32 per share on revenue of $1.83 billion. Charter Communications' operating costs and expenses climbed 4.1%. Average revenue per residential customer gained 2%.

Armstrong World Industries Inc (NYSE: AWI) posted weaker-than-expected fourth-quarter results. Armstrong World Industries projects 2012 adjusted earnings of $2.75 to $3.15 per share on sales of $2.9 billion to $3 billion. However, analysts were projecting earnings of $2.91 per share on revenue of $3 billion. Armstrong World Industries posted a quarterly net income of $8.5 million, or $0.14 per share, versus a year-ago net loss of $21 million, or $0.36 per share. Excluding items, Armstrong World Industries earned $0.16 per share, versus analysts' estimates of $0.29 per share. Its sales climbed 1% to $652.1 million, versus analysts' estimates of $669.8 million.

Valeant Pharmaceuticals International Inc (NYSE: VRX) posted a fourth-quarter profit. Valeant Pharmaceuticals posted a quarterly net income at $55.9 million, or $0.18 per share, versus a year-ago net loss of $31.1 million, or $0.10 per share. Its revenue climbed 34% to $688.5 million. Its adjusted cash income came in at $297.7 million, or $0.94 per share. Analysts were expecting earnings of $0.85 per share.

Cooper Tire & Rubber Co (NYSE: CTB) posted a rise in its fourth-quarter profit. Cooper Tire & Rubber posted its quarterly net income from continuing operations of $209 million, or $3.33 per share, up from $40.2 million, or $0.64 per share, in the year-ago period. Excluding items, the company earned $0.51 per share, versus analysts' estimates of $0.39 per share. Cooper Tire & Rubber's sales surged 14% to $1.05 billion, versus analysts' estimates of $1.02 billion.

Quicksilver Resources Inc (NYSE: KWK) posted a weaker-than-expected adjusted fourth-quarter profit. Quicksilver Resources' quarterly net profit dropped to $49 million, or $0.28 per share, from $332 million, or $1.82 per share, in the year-ago period. Its revenue declined 10% to $216 million. Excluding items, Quicksilver Resources broke even. However, analysts were expecting earnings of $0.01 per share on revenue of $217.1 million.

Gran Tierra Energy Inc (NYSE: GTE) posted a surge in its quarterly profit. Gran Tierra Energy's October-December profit surged to $32.5 million, or $0.11 per share, from $13.1 million, or $0.04 per share, in the year-ago period. Its revenue and other income surged 44% to $161.8 million.

Caltex Australia Ltd (OTC: CTXAY) reported a loss in 2011. Caltex Australia posted a net loss of A$714 million, versus a profit of A$317 in 2010. Its profit on a replacement cost of sales operating basis dropped to A$264 million from A$318 million, versus company forecast of A$245 million-A$265 million. Caltex Australia declared a final dividend of 28 cents per share, versus 30 cents per share, in the year-ago period. Its revenue from ordinary activities surged 18% to A$22.11 billion from A$18.67 billion.

Transocean Ltd (NYSE: RIG) posted a wider Q4 net loss. Transocean posted a quarterly loss of $6.12 billion, or $18.62 per share, versus a year-ago loss of $799 million, or $2.51 per share, in the year-ago period. The latest quarter results were hurt by special items of $18.80 per share. Its revenue rose to $2.42 billion from $2.13 billion. However, analysts were expecting a profit of $0.24 per share on revenue of $2.34 billion.

Pearson PLC (NYSE: PSO) posted a drop in its net profit in 2011. Pearson's attributable net profit for 2011 declined to 957 million pounds ($1.52 billion), versus a profit of 1.3 billion pounds in 2010. Its sales climbed 3.5% to 5.86 billion pounds from 5.66 billion pounds.

HSBC Holdings PLC (NYSE: HBC) reported a 28% rise in its 2011 profit. HSBC's 2011 profit surged to $16.79 billion, or $0.92 per share, from $13.16 billion, or $0.73 per share in 2010. Its net interest income surged to $40.66 billion from $39.44 billion. However, analysts were expecting a net profit of $16.79 billion and net interest income of $40.32 billion. HSBC's loan impairment charges and other credit risk provisions came in at $12.13 billion in 2011.

Hang Seng Bank Ltd (OTC: HSNGY) posted a 12% rise in its net profit in 2011. Hang Seng Bank's net profit for the period climbed to HK$16.68 billion, from HK$14.92 billion in 2010. However, analysts were expecting a net profit of HK$16.13 billion. Net interest income at Hang Seng Bank's core lending business surged 10% to HK$15.74 billion from HK$14.30 billion.

Posted-In: Earnings RoundupEarnings News Markets

 

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