Earnings season continues to deluge Wall Street this week with more results as investors, searching for encouraging signs of a business recovery, await earnings news from market leaders including Walt Disney, Kraft Foods, Genworth Financial and News Corp.
May 4
Oil and natural gas exploration company Chesapeake Energy Corp. (CHK) is likely to release first-quarter results after market closes on May 4, with analysts forecasting earnings of $0.48 per share on revenues of $2.20 billion. In the year-ago period, the company had incurred a loss of $0.29 per share on revenues of $1.60 billion.
Sprint Nextel Corp. (S), the No. 3 mobile-phone services provider in the U.S., will publish first-quarter scorecard at 07:00 am ET on May 4. Analysts are expecting a loss of $0.04 per share, on revenues of $8.28 billion. In the year-ago quarter, the company posted a loss of $0.18 per share, on revenues of $9.30 billion. Sprint expects both post-paid and total subscriber losses to improve in 2009. The company expects full-year capital expenditures in 2009 to be consistent with 2008 levels, excluding WiMAX, and also to continue to generate positive free cash flow during the year.
Integrated energy company Entergy Corp. (ETR) is scheduled to announce first-quarter results before market opens on May 4, with analysts expecting earnings of $1.35 per share on revenues of $3.07 billion. In the year-ago period, earnings were $1.56 per share and revenues $2.8 billion.
Entergy forecast first-quarter earnings lower than last years' as well as current market projections, mainly due to negative impacts on its nuclear and Utility, Parent & Other earnings. The company expects first-quarter as-reported earnings of about $1.19 per share, and operational earnings of about $1.28 per share. This compares to as-reported and operational earnings of $1.56 per share in first quarter of 2008. Entergy also backed its as-reported earnings per share guidance for 2009 in the range of $6.56 - $7.16, and operational earnings per share of $6.70 - $7.30.
Loews Corp. (L) will issue first-quarter results on May 4. Wall Street analysts have a consensus earnings estimate of $0.62 per share. The company had earned $1.05 per share, on revenues of $4.5 billion, in the same quarter of last year.
From health care service provider McKesson Corp. (MCK), which is slated to report fourth-quarter results at 4:00pm ET on May 4, analysts are expecting earnings of $1.15 per share and revenues of $27.30 billion, higher than the previous year's earnings of $1.05 per share and revenues of $26.2 billion. Recently, McKesson lifted its earnings forecast for fiscal 2009 to $4.15 - $4.30 per share from the prior range of $3.08 - $3.25 per share.
Personal care products maker Estée Lauder Companies Inc. (EL) is likely to publicize third-quarter results before market opens on May 4, with analysts expecting earnings of $0.05 per share, on revenues of $1.65 billion. This is lower than the last year's earnings of $0.46 per share and revenues of $1.88 billion.
Estée Lauder projects third-quarter earnings per share to be flat to up $0.08, on a sales decrease of 2-4% in constant currency. For the full year, the company continues to expect earnings in the range of $1.30 - $1.60 per share, including the anticipated negative impact of foreign currency translation of about $.25 - $.27 per share. Annual sales are expected to be flat to down 3% in constant currency.
Meat products producer Tyson Foods Inc. (TSN) is set to announce financial results for second quarter before market opens on May 4. Analysts expect the company to report a loss of $0.06 per share on revenues of $6.64 billion.
The lineup of companies set to report quarterly results on Monday also includes Alcatel-Lucent (ALU), Henry Schein (HSIC), Myriad Genetics (MYGN), and E.W. Scripps Co. (SSP).
May 5
Allegheny Energy Inc. (AYE) is due to release its financial upshot for the first quarter before market opens on May 5. Analysts are looking for earnings of $0.70 per share on revenues of $1.07 billion. In the year-ago period, the company posted earnings per share of $0.80, on operating revenues of $875.0 million.
The company expects 2009 to be very challenging year due to the sputtering economic conditions. Paul Evanson, chairman, president and chief executive officer, said, "We'll especially focus on controlling costs and maintaining strong liquidity during the year, while also completing our scrubber projects and keeping transmission expansion on track."
Automatic Data Processing Inc. (ADP) will sign in from the outsourcing sector with third-quarter results before market opens on May 5, with analysts forecasting earnings of $0.80 per share, on revenues of $2.39 billion. In the year-ago period, the company reported earnings of $0.79 per share, on revenues of $2.4 billion.
The company recently updated earnings forecast and lowered its revenue growth outlook for the fiscal 2009, citing unfavorable foreign exchange rates and pricing pressures amid global meltdown.
Automatic Data Processing currently expects earnings per share from continuing operations growth to be at the low end of its 10% - 14% range. The earnings per share from continuing operations forecast includes a charge relating to the Primary Fund of the Reserve Fund.
Constellation Energy Group Inc. (CEG) is slated to release its first-quarter results on May 5, with analysts expecting earnings of $0.70 per share, on revenues of $4.38 billion. Earnings for the year-earlier period were $0.81 per share, on revenues of $4.8 billion.
Constellation Energy projects 2009 earnings between $2.90 and $3.20 per share, and 2010 earnings in the range of $3.05 - $3.45 per share.
Electric utility Duke Energy Corp. (DUK) plans to report first-quarter results before the market opens on May 5. Wall Street analysts have a consensus earnings estimate of $0.32 per share on revenues of $3.39 billion. In the year-ago period, the company reported earnings of $0.37 per share on revenues of $3.3 billion.
Molson Coors Brewing Co. (TAP) is set to release first-quarter results on May 5, with analysts projecting earnings of $0.33 per share on revenues of $567.76 million. In the year-ago period, the company earned $0.32 per share on net sales of $1.36 billion.
Progress Energy Inc. (PGN), an integrated energy company, plans to issue first-quarter progress card on May 5, with analysts projecting earnings of $0.61 per share on revenues of $2.16 billion. In the year-ago period, the company earned $0.81 per share on operating revenues of $2.1 billion. Recently, the company reiterated its full-year 2009 ongoing earnings of $2.95 - $3.15 per share.
Diversified media and entertainment company Walt Disney Co. (DIS), one of the Dow 30 components, is likely to blazon out second-quarter results at 4:01 pm ET on May 5. Analysts are looking for earnings of $0.40 per share on revenues of $8.15 billion.
Weyerhaeuser Co. (WY) is scheduled to announce first-quarter results before market opens on May 5. Analysts expect the company to report a loss of $0.80 per share on revenues of $1.65 billion. In the year-ago period, the company incurred a loss of $0.70 per share on revenues of $3.4 billion.
From packaged foods and beverages company Kraft Foods Inc. (KFT), a Dow component, which is lined up to dish out first-quarter results at 7:00am ET on May 5, analysts are expecting earnings of $0.40 per share on revenues of $9.74 billion. Earnings for the year-earlier quarter were $0.40 per share on revenues of $10.4 billion.
The company lowered its 2009 earnings guidance to $1.88 per share from its prior outlook of at least $2.00 per share. Kraft Foods now expects organic net revenue growth of about 3% in 2009, down from a previous expectation of at least 4%, due to a lower-than-expected contribution from pricing as certain input costs, particularly dairy, have decreased.
Cognizant Technology Solutions (CTSH), CVS Caremark Corp. (CVS), Denbury Resources Inc. (DNR), Hewitt Associates (HEW), Kinross Gold (KGC), Marvel Entertainment Inc. (MVL), Spectra Energy (SE), Teva Pharmaceutical (TEVA), UBS AG (UBS), Ultra Petroleum Corp. (UPL), and Wisconsin Energy Corp. (WEC) are among others set to give out quarterly results Tuesday.
May 6
Oil and gas company Anadarko Petroleum Corp. (APC) is slated to report first-quarter results after market closes on May 6. Analysts expect the company to report a loss of $0.61 per share on revenues of $1.71 billion. In the year-ago period, the company reported earnings of $0.61 per share on revenues of $2.9 billion.
The company expects first-quarter average daily sales volumes to range between 48 million and 51 million BOE. Further, Anadarko Petroleum currently sees fiscal 2009 average daily sales volumes to be in the range of 208 million - 212 million BOE.
The world's largest computer networking gear maker Cisco Systems Inc. (CSCO) is set to mete out third-quarter report card after the market closes on May 6, with analysts estimating earnings of $0.25 per share on revenues of $8.07 billion. Earnings for the year-ago period totaled $0.29 per share on revenues of $9.8 billion.
Oil and gas company Devon Energy Corp. (DVN) is expected to report first-quarter results before market opens on May 6, with analysts forecasting earnings of $0.27 per share on revenues of $1.84 billion, lower than the previous year's earnings of $1.66 per share and revenues of $2.97 billion.
Insurance brokerage Marsh & McLennan Companies Inc. (MMC) will issue first-quarter scorecard before market opens on May 6, with analysts projecting earnings of $0.44 per share on revenues of $2.95 billion. In the year-ago quarter, the company incurred a loss of $0.40 per share on revenues of $3.00 billion.
Electricity generator and distributor PG&E Corp. (PCG) is due to release first-quarter results before market opens on May 6, with analysts estimating earnings of $0.72 per share on revenues of $3.59 billion. In the year-ago period, the company earned $0.62 per share on revenues of $3.7 billion.
PG&E reaffirmed its full-year 2009 earnings from operations in the range of $3.15 - $3.25 per share. Full-year GAAP earnings are expected to be in the range of $3.20 - $3.36 per share.
Prudential Financial Inc. (PRU) is slated to publish first-quarter results after market closes on May 6, with analysts expecting earnings of $0.83 per share on revenues of $6.58 billion. The company reaffirmed its fiscal 2009 earnings view in the range of $5.25 - $5.65 per share based on after-tax adjusted operating income of the Financial Services Businesses.
Oil and natural gas producer XTO Energy Inc. (XTO) plans to announce first-quarter results on May 6, with analysts estimating earnings of $0.77 per share on revenues of $2.12 billion. In the year-ago period, the company posted earnings of $0.92 per share on revenues of $1.67 billion.
XTO said it expects average daily natural gas production for 2009 in the range of 2,170 to 2,190 MMcf, natural gas liquid production of 17 MBbl and oil production of 63 MBbl.
Apart from Cooper Tire & Rubber (CTB), News Corp. (NWS), Sunoco (SUN), Agrium Inc. (AGU), and Foster Wheeler AG (FWLT), investors will also be watching for earnings from Garmin Ltd. (GRMN), Petrohawk Energy Corp. (HK), Quicksilver Resources (KWK), RR Donnelley (RRD), Total (TOT) on Wednesday.
May 7
Homebuilder D.R. Horton (DHI) is likely to dole out second-quarter results before market opens on May 7, with analysts forecasting a loss of $0.30 per share on revenues of $817.49 million. In the year-earlier period, the company incurred a loss of $4.14 per share on revenues of $1.6 billion.
Analysts are expecting a loss of $0.04 per share on revenues of $682.80 million from electric utility company Dynegy Inc. (DYN) that is scheduled to release first-quarter results on May 7.
The company updated its outlook for 2009 to reflect declining commodity prices and said it expects a net loss for the year. Dynegy now sees a net loss between $65 million and $140 million. Earlier in December 2008, the company had expected 2009 results to range between a net loss of $20 million and net income of $85 million.
Processed and packaged foods company Sara Lee Corp. (SLE) is due to issue third-quarter scorecard on May 7, with analysts estimating earnings of $0.18 per share on revenues of $3.05 billion. Earnings for the year-ago period were $0.30 per share on revenues of $3.2 billion.
Sara Lee currently expects fiscal 2009 earnings in the range of $0.72 - $0.79 per share, compared with its prior outlook range of $0.99 - $1.06 per share. The company also sees full-year 2009 adjusted earnings of $0.73 to $0.80 per share, down from its earlier range of $0.77 - $0.84 per share. Sara Lee lowered its fiscal 2009 net sales outlook to a range of $12.8 billion - $13 billion from its previous range of $13 billion - $13.3 billion.
Insurer Allstate Corp. (ALL) plans to release first-quarter results after market closes on May 7, with analysts expecting earnings of $1.23 per share on revenues of $8.16 billion. In the year-ago period, the company reported earnings per share of $0.62 on revenues of $8.1 billion. While announcing a fourth-quarter loss on January 28, the company had said it plans to cut about 1,000 jobs in the next two years.
Internet infrastructure service provider VeriSign Inc. (VRSN) is likely to report first-quarter results after market closes on May 7. Analysts are looking for earnings of $0.28 per share on revenues of $248.65 million for the quarter. In the year-ago period, the company posted a loss of $0.09 per share on revenues of $354 million.
Also scheduled to report Thursday are Anheuser-Busch InBev, Genworth Financial (GNW), Cablevision Systems (CVC), Frontier Oil (FTO), Lamar Advertising (LAMR), Goldcorp (GG), Warner Music Group (WMG) and Thomson Reuters.
May 8
Oil and gas producer El Paso Corp. (EP) is set to report first-quarter results before market opens on May 8, with analysts projecting earnings of $0.27 per share on revenues of $1.26 billion. In the year-ago period, the company earned $0.32 per unit on operating revenues of $33.7 million.
Calpine Corp. (CPN), Gartner (IT), Huntsman Corp. (HUN), Liberty Media Corp., Toyota Motor Corp. (TM), Westar Energy Inc. (WR), Windstream Communications, and more are in line to unveil earnings on Friday.
Earnings week continues on Wall Street as another slew of companies gets set to report their quarterly performance. Stay tuned to RTTNews!
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