(RTTNews) - Wall Street is into the third week of the earnings season with two-thirds of the S&P 500 companies having reported thus far. About 80% of the companies outperformed analysts' expectations, 6% inline and 13% missed Thomson Reuters estimates. The pattern in a typical quarter is 61% beat, 18% match and 21% miss. The beat continues relentlessly, and a barrage of quarterly reports, mainly from energy and utility companies, will be in focus this week. The list includes...
November 2
Independent exploration and production company Anadarko Petroleum Corp. (APC:
News ) will issue its third-quarter results after the market closes Monday. Analysts are expecting a loss of $0.33 per share on revenues of $2.00 billion for the quarter. In the prior-year quarter, the company posted earnings from continuing operations of $4.62 per share on revenues of $6.15 billion. Anadarko Petroleum currently expects full year 2009 sales volumes to be 210 million - 215 million barrels of oil equivalent, compared to its prior guidance of 208 million - 212 million barrels of oil equivalent.
Oil and natural gas exploration and production company Chesapeake Energy Corp. (CHK:
News ) is set to release its third-quarter results after the market closes on November 2, with analysts forecasting earnings of $0.65 per share, on revenues of $1.96 billion. This compares with the previous year's adjusted earnings of $0.85 per share and revenues of $7.49 billion. Most recently, the company raised its production outlook for fiscal 2009 and fiscal 2010, currently expecting 2009 production to grow by 5% - 6%, versus its prior estimate of 4% - 5% growth. The Oklahoma City-based company now expects to produce 815 - 825 bcf of natural gas, up from its previous expectation of 805 - 815 bcf.
For fiscal 2010, Chesapeake currently expects production growth in the range of 8% - 10%, up from its previous expectation of 7% - 8%. The company now expects to produce 862 - 902 bcf of natural gas, compared to prior estimate of 865 - 885 bcf. For fiscal 2011, Chesapeake anticipates production growth of 12% - 14%, and natural gas production of 1,007 - 1,027 bcf.
Consumer products maker Clorox Corp. (CLX:
News ) is scheduled to report its first-quarter results Monday, as analysts are looking for earnings of $0.95 per share on revenues of $1.37 billion, higher than the prior-year's earnings of $0.76 per share and sales of $1.24 billion. While releasing its fourth-quarter numbers, the company reiterated its fiscal 2010 outlook for earnings in a range of $4.00-$4.15 per share, on sales growth of 1% - 2%. Clorox also reaffirmed its outlook for full-year gross margin expansion in a range of 50-100 basis points.
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