Earnings season continues to dominate Wall Street proceedings this week with more quarterly reports, largely from energy and utilities industry, including Anadarko Petroleum Corp., Chesapeake Energy, Marathon Oil, NiSource and CenterPoint Energy. The week will also witness the release of earnings reports by some big names such as Humana, Kraft Foods, Procter & Gamble, Comcast and Liberty Media.
August 3
Independent exploration and production company Anadarko Petroleum Corp. (APC) will annunciate second-quarter results after the market closes, with analysts expecting a loss of $0.68 per share, on revenues of $1.76 billion. The company said it remains on track to achieve its 2009 production target of between 208 million and 212 million BOE.
Oil and natural gas exploration and production company Chesapeake Energy Corp. (CHK) will blat out financial results for the second quarter after the market closes on August 3. Analysts are looking for earnings of $0.51 per share, on revenues of $1.89 billion, for the quarter. While releasing first-quarter figures, the company said it has planned to reduce its costs and drilling activity levels during 2009 and 2010. Drilling capital expenditure budget for fiscal years 2009 and 2010 is now expected to be around $6.0 billion, down $500 million or 8% from previously projected budget of $6.5 billion.
Private Medicare plans provider Humana Inc. (HUM) expects to post second-quarter earnings in the range of $1.65 - $1.70 per share, which is above Wall Street analysts' consensus earnings of $1.64 per share. The results are slated to be released at 06:00 am ET, with analysts expecting revenue of $7.77 billion for the quarter.
On April 27, Humana lifted its earnings forecast for fiscal 2009 to $6.10 - $6.20 per share from the previous range of $5.90 - $6.10 per share, to reflect improved Government Segment operating performance, partially offset by lower expected investment income and commercial membership. Annual consolidated revenues are still expected to be in the range of $30 billion -$32 billion. Analysts expect the company to report earnings of $6.12 per share, on revenues of $30.96 billion, for the full year.
Integrated oil and natural gas company Marathon Oil Corp. (MRO) will summarize its second-quarter numbers on August 3, with analysts forecasting earnings of $0.53 per share on revenues of $11.11 billion. Most recently, Marathon Oil said it would take a charge of $100 million related to foreign currency re-measurement on deferred taxes in the second quarter. The company also said liquid hydrocarbon and natural gas production available for sale from continuing operations during the second quarter will exceed its prior forecast and exploration expense is expected to be within its previous guidance.
Meat processing firm Tyson Foods Inc. (TSN) will mete out third-quarter numbers before the market opens, as analysts polled by Thomson Reuters expect the company to post earnings of $0.22 per share, on revenues of $6.68 billion, for the quarter. Analysts' estimates typically exclude special items. Last month, the company noted that it currently expects a stronger third quarter in chicken segment than earlier estimated.
Donnie Smith, Tyson's senior group vice president for poultry and prepared foods, said that, while the company is better positioned to operate more effectively in the current environment, higher input costs and demand for other proteins could have an impact later in the year.
Beer brewer Molson Coors Brewing Co. (TAP), oil and gas company Forest Oil Corp. (FST), financial services provider Barclays Plc (BCS), diversified conglomerate Loews Corp. (L), consumer products maker Clorox (CLX) will be among the jumbos scheduled to give out quarterly results Monday.
August 4
Electricity producer Duke Energy Corp. (DUK) will publish second-quarter results at 7:00 am ET Tuesday, with analysts projecting earnings of $0.26 per share on revenues of $3.18 billion. While announcing first-quarter numbers, the company said it is on track to achieve its 2009 employee incentive target of $1.20 per share on an adjusted basis.
Packaged foods and beverages company Kraft Foods Inc. (KFT) is likely to dish out second-quarter figures at 4:00 pm ET, with analysts expecting earnings of $0.54 per share on revenues of $10.37 billion. The foodmaker in May reaffirmed 2009 earnings forecast of $1.88 per share with organic net revenue growth of about 3%.
For NiSource Inc. (NI), an energy holding company, analysts are looking for earnings of $0.01 per share on revenues of $1.63 billion for the second quarter. The results are due to be announced on August 4. For fiscal 2009, the company still expects net operating earnings of $1.00 - $1.10 per share.
Oilfield equipment and services provider Cameron International Corp. (CAM) projects second-quarter earnings to range between $0.45 and $0.48 per share, with analysts are expecting earnings of $0.47 per share for the quarter. The results are scheduled to be released before the market opens Tuesday. For the full year 2009, Cameron currently expects earnings, excluding charges, in the range of $1.85 - $2.00 per share, revised from the earlier outlook of $1.75 - $2.00 per share.
Cognizant Technology Solutions Corp. (CTSH) will check in from the IT sector before the market opens to issue forth its second-quarter report card. Wall Street analysts have a consensus earnings estimate of $0.37 per share, on revenues of $761.99 million for the quarter. The company projects second-quarter earnings to be $0.37 per share. Excluding $0.05 per share of estimated stock-based compensation and stock-based Indian fringe benefit tax expense, earnings are projected to be $0.42 per share. The company expects revenue for the second quarter to be at least $760 million.
For the fiscal year 2009, Cognizant now expects earnings per share to be at least $1.53. Excluding $0.18 of estimated stock-based compensation and stock-based Indian fringe benefit tax expense, net income is expected to be around $1.71 per share. Earlier, Cognizant had projected full-year 2009 earnings per share to be at least $1.54, and adjusted earnings per share to be at least $1.72. Revenue for the full year is expected to be at least $3.1 billion, which is in line with the earlier projection.
Drugstore operator and pharmacy benefits manager CVS Caremark Corp. (CVS) will divulge second-quarter financial results before the market opens Tuesday, as analysts are expecting earnings of $0.64 per share on revenues of $24.41 billion for the quarter. In mid-May, the company raised its full year 2009 earnings guidance by $0.02 per share to a range of $2.37 - $2.45 per share or $2.55 - $2.63 per share, excluding items.
The largest U.S. homebuilder D.R. Horton Inc. (DHI) is likely to be on shaky ground as analysts are expecting the company to report a loss of $0.23 per share on revenues of $792.06 million for the third quarter.
Spectra Energy Corp. (SE), a natural gas infrastructure company, will trump out second-quarter numbers before the market opens Tuesday. Wall Street analysts have a consensus earnings estimate of $0.20 per share on revenues of $1.07 billion for the quarter.
Automaker Toyota Motor Corp. (TM) is slated to report first-quarter results Tuesday. On July 29, arch rival Honda Motor Co. Ltd. (HMC) posted a sharp decline in first-quarter profit that totaled JPY 7.56 billion or JPY 4.17 per basic common share, versus JPY 173.4 billion or JPY 95.56 per basic common share in the prior-year quarter, dented by declined revenues in automobile business and unfavorable currency translation effects.
Toyota Motor expects a 1.06 million-unit drop in vehicle sales, especially in Japan and North America, to 6.5 million units for the fiscal year ending March 31, 2010, citing the continuance of the current severe conditions of each market. Based on this assumption, Toyota expects fiscal 2010 net loss attributable to the company to be 550.0 billion yen, operating loss to be 850 billion yen, and net revenues to be 16.5 trillion yen.
Other higher-ups in the market set to publicize quarterly results Tuesday include electric utility Allegheny Energy Inc. (AYE), biopharmaceutical company Cephalon Inc. (CEPH), integrated energy company Progress Energy (PGN), system management solutions provider BMC Software (BMC), telecom services provider Frontier Communications Corp. (FTR), and integrated energy company Entergy (ETR).
August 5
Electric and natural gas utility company CenterPoint Energy Inc. (CNP) will put out second-quarter results Wednesday, with analysts expecting earnings of $0.23 per share on revenues of $2.22 billion. On April 29, the company reaffirmed its 2009 earnings guidance of $1.05 - $1.15 per share. Analysts are looking for earnings of $1.08 per share for fiscal 2009.
For the quarter that saw Cisco Systems (CSCO) laying off around 600 - 700 employees at its San Jose, California headquarters, as part of an ongoing restructuring of its operations to reduce costs amid declining sales, analysts are forecasting earnings of $0.28 per share on revenues of $8.51 billion for the fourth quarter. The results are due to be released after the market closes Wednesday.
Electricity generator and distributor PG&E Corp. (PCG) will blare out second-quarter score card Wednesday, with analysts projecting earnings of $0.84 per share on revenues of $3.51 billion. While releasing first-quarter numbers, PG&E reaffirmed its guidance for fiscal 2009, saying it still expects GAAP earnings in the range of $3.20 - $3.36 per share, including $0.05 - $0.11 per share of certain anticipated items impacting comparability, and earnings from operations in the range of $3.15 - $3.25 per share. Fiscal 2010 earnings, on a GAAP as well as non-GAAP basis, are still expected to range between $3.35 and $3.50 per share and between $3.65 and $3.85 per share for 2011. Analysts project earnings of $3.17 per share for fiscal 2009 and $3.41 per share for 2010.
Consumer goods giant Procter & Gamble Co. (PG) will denote financial results for the fourth quarter, with analysts expecting earnings of $0.79 per share on revenues of $19.38 billion. On May 28, the company said it currently anticipates 2009 net earnings to range between $4.20 and $4.25 per share, including results and gain on the Folgers transaction of $0.68 per share. Net earnings from continuing operations are expected between $3.52 and $3.57 per share, including incremental Folgers-related restructuring charges. Excluding special items related to Folgers, fiscal 2009 core earning are now forecast in the range of $3.62 to $3.67 per share.
Further, Procter & Gamble expects fiscal 2010 net earnings and core earnings to range between $3.65 and $3.80 per share, higher than the current fiscal 2009 core earnings estimate range of $3.62 - $3.67 per share. Net sales for fiscal 2010 are anticipated to be between down 2% and up 1% from fiscal 2009, including a negative foreign exchange impact of 2% to 3%.
Wednesday's earnings docket includes oil and gas equipment and services provider Baker Hughes Inc. (BHI), food and beverage company Dean Foods (DF), oil and gas producer Devon Energy Corp. (DVN), financial services provider Prudential Financial Inc. (PRU), oil refiner and petrochemical products company Sunoco (SUN), personal lines insurer Allstate Corp. (ALL), domestic oil and natural gas producer XTO Energy Inc. (XTO), Foster Wheeler AG (FWLT), Marsh & McLennan Companies Inc. (MMC), Petrohawk Energy Corp. (HK) among numerous others slated to issue quarterly figures.
August 6
Natural gas exploration and production company Williams Companies Inc. (WMB) will dispense second-quarter results before the market opens Thursday, as analysts are expecting earnings of $0.16 per share on revenues of $1.65 billion.
For fiscal year 2009, Williams Companies lowered its forecast for consolidated segment profit to a range of $1.325 billion - $1.850 billion from the prior range of $1.350 billion - $1.925 billion. The company also lowered its outlook for earnings per share for the year to a range of $0.55 - $0.95 from prior range of $0.60 - $1.10. Analysts expect the company to report earnings of $0.83 per share for the full year.
Investors will hear second-quarter earnings from the cable services provider Comcast Corp. (CMCSA) before the market opens, as analysts are forecasting earnings of $0.26 per share on revenues of $8.86 billion. Comcast's arch rival, DirectTV Group Inc. (DTV) will also air its second-quarter results before the market opens Thursday, with analysts expecting earnings of $0.43 per share, on revenues of $5.18 billion.
Oil and gas producer El Paso Corp. (EP) will publish second-quarter financial results Thursday, with analysts projecting earnings of $0.21 per share on revenues of $1.14 billion.
MetroPCS Communications Inc. (PCS) said it continues to expect net subscriber additions in the range of 1.4 million - 1.7 million, on a consolidated basis, for fiscal 2009. Full-year capital expenditures are estimated to range between $0.7 billion and $0.9 billion. The wireless telecommunications carrier will announce second-quarter figures before the market opens Thursday, with analysts forecasting earnings of $0.14 per share, on revenues of $861.20 million.
VeriSign Inc. (VRSN), Unilever Plc (UL), NASDAQ OMX Group Inc. (NDAQ), Sirius Satellite Radio (SIRI), Frontier Oil (FTO), Gold Fields Ltd. (GFI), Huntsman Corp. (HUN), Deutsche Telekom (DT), Dollar Tree Stores (DLTR), Brinker International (EAT) are among the titans to release quarterly upshots Thursday.
August 7
Friday's earnings array encompass Liberty Media Corp. (LINTA), asset management holding company Brookfield Asset Management (BAM), oil and gas exploration and production company Cimarex Energy Co. (XEC), auto parts maker Magna International Inc. (MGA), and residential mortgage insurance provider PMI Group Inc. (PMI).
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.