Earnings Release 12 Feb 2014

Verified by Raqueem Khan
Edited by Vani Rao

Dean Foods’ profits down, revenue beats expectations

Dean Foods Company (NYSE:DF) reported a revenue fall of 7% on a year-over-year basis to $2.3 billion from $2.45 billion in the year-ago period. The company’s earnings for the quarter were at 18 cents a share, compared to 23 cents a share in the year-ago period. Analysts at Wall Street were expecting an EPS of 19 cents on revenue of $2.29 billion. The Dallas-based company has asserted a challenging quarter ahead, as peaking dairy product prices would drive down margins.

Fossil surprises market with strong Q4 earnings

Fossil Group Inc. (NASDAQ: FOSL) reported Q4 2013 revenue of $1.06 billion, compared to $0.95 billion, in the year-ago quarter. The company’s net earnings improved 7% to $2.68 per share to $2.51 in the prior-year quarter. Fossil’s revenue and net earnings outperformed the analysts’ expectations of $1.02 billion and $2.43 per share, respectively. The company’s wholesale business in North America, which contributes 46% to the total sales, grew by 13% during the quarter under review. The company provided Q1 FY2014 EPS guidance in the range of $1.10-1.18 on revenue of $765-775 million. The company is authorized to repurchase shares worth $494 million in the forthcoming financial year.

Zoetis reports superior Q4 earnings, provides weak FY’14 guidance

Zoetis Inc. (NYSE:ZTS) reported a 6.6% year-over-year total revenue growth to $1.25 billion, beating the market expectations of $1.2 billion. The company’s net income (excluding non-recurring items) stood at $0.36 per share, 2 cents above the analysts’ expectations of $0.34 per share. Zoetis reported strong top line results in all four major geographical areas. However, the company provided a weak FY2014 guidance and expects earnings to be in the range of $1.48-1.54 per share on revenues of $4.65-4.75 billion. On the other hand, Wall Street expects an EPS of $1.61 per share for revenue of $4.77 billion.

TripAdvisor Q4 revenue up, fails to meet earnings expectations

TripAdvisor Inc. (NASDAQ:TRIP) reported a 25.6% sales growth in the fourth quarter FY’13 to $212.7 million from $169.4 million in the year-ago quarter. TripAdvisor Inc.’s revenue overshadowed the consensus estimate of $205.8 million. The company reported earnings (excluding one-time items) of 21 cents per share, which is a cent below the analysts’ estimates of 22 cents. The company’s Click-based Advertising segment, which generates 68% of the total revenue, improved 17% year-over-year. TripAdvisor Inc.’s fourth quarter net income fell due to a rise in marketing and technology expenses.

Packaging Corp. reports revenue surge in Q4

Packaging Corporation of America’s (NYSE:PKG) fourth quarter revenue surged 71.7% year-over-year to $1.26 billion, above the consensus estimate of $1.22 billion. The company reported record net earnings of $1.04 per share, compared to analysts’ estimate of $0.89 per share and above $0.61 per share in the year-ago quarter. CEO Mr. Mark Kowlzan has affirmed a positive first quarter FY2014 and has improved Q1’14 EPS guidance to $1.00-1.05 per share, above Wall Street estimates of $0.93 per share. The company’s shares have gained 3.65% in the extended hours of trading session.

Ingersoll-Rand’s revenues up, misses earnings estimates

Ingersoll-Rand PLC (NYSE:IR) reported a 6% rise in the net revenue to $3.1 billion in the fourth quarter FY’13, outperforming the consensus estimates of $3.03 billion. The company’s earnings per share improved from $0.52 in the prior year period to $0.61 in the quarter under review. Analysts were expecting Ingersoll-Rand’s EPS at $0.62. The company has recently announced a 19% increase in its quarterly dividend to $0.25 per share, payable on March 31, 2014. The company expects to complete the remaining share repurchase program worth $0.8 billion in Q1 FY 2014.

CVS Caremark’s Q4 profit rises 12% amid strong store sales

CVS Caremark Corp.’s (NYSE:CVS) fourth-quarter earnings rose more than 12% driven by sales in established drug stores, which climbed 6.8% in the quarter under review. Overall, CVS reported earnings of $1.27 billion, or $1.05 per share, compared with $1.13 billion, or 90 cents per share, in the year-ago quarter. Adjusted EPS for the quarter stood at $1.12, while the revenue rose nearly 5% to $32.83 billion, exceeding the analysts’ EPS estimates of $1.11 on revenue of $32.67 billion. Going forward, the company reaffirmed its outlook for FY2014, and expects EPS in range of $4.36-4.50, compared to industry EPS estimates of $4.46. Following the strong Q4 results, CVS Caremark shares gained 2.73% to close the day at $68.77, Tuesday, 11 February 2014.

Henry Schein posts strong Q4 results, tops analyst expectations

Henry Schein Inc. (NYSE: HSIC) reported fourth-quarter net sales of $2.5 billion, up 4.9% as compared to the year-ago period. The company reported net income of $124.3 million, or $1.43 diluted per share, compared to $112.5 million, or $1.26 per share, in the year-ago quarter. The company’s EPS outperformed the analyst estimates of $1.40 while the revenue was in line with the industry consensus. Stanley M. Bergman, Chairman of the Board and CEO of Henry Schein, credited robust sales growth for the strong fourth-quarter results as the company gained market share in each of their four global business units. As guidance for FY2014, the company is expecting EPS of $5.29-5.39, representing a growth of 7% to 9% compared with 2013, excluding one-time items.

IntercontinentalExchange Group reports Q4 loss post NYSE acquisition

IntercontinentalExchange Group Inc. (NYSE:ICE) reported fourth-quarter loss of $176 million, or $1.83 per diluted share, compared with a profit of $130 million, or $1.76 per diluted share, in the prior year quarter. The company’s profitability was hit by one-time costs, such as $131 million from ICE’s $11-billion acquisition of NYSE Euronext and a $190- million impairment charge on an investment in Brazil. However, the company’s Q4 revenue surged 88% to $612 million, compared with $324 million in the year-ago quarter. Analyst had expected revenue of $620 million. The Atlanta-based company reported net adjusted earnings of $2 a share, above the Thomson Reuters consensus estimate of $1.98 a share. ICE has declared a dividend of 65 cents per share for the first-quarter 2014, payable to shareholders on rolls as of 17 March 2014 on 31 March 2014.

Sprint posts smaller fourth-quarter losses, better Wall Street estimates

Sprint Corp.’s (NYSE:S) losses for Q4 shrunk to $1.04 billion, or 26 cents a share, compared with a loss of $1.32 billion, or 44 cents a share, in the prior year quarter. The company was able to offset some of its losses by the net addition of 477,000 wireless devices in Q4, while it had lost 337,000 devices in the year-ago quarter. Moreover, the company’s fourth-quarter revenue also climbed 2% to $9.14 billion from $9.01 billion in the same quarter last year. Sprint Corp.’s results have bettered Wall Street estimates, which on an average forecasted loss of 35 cents on revenue of $8.98 billion. Looking forward, Sprint expects adjusted EBITDA between $6.5 billion and $6.7 billion in 2014. The company’s shares closed the day 2.73 % higher at $7.90, on 11 February 2014.

Federal Realty Investment Trust Q4 EPS rises, in-line with estimates

Federal Realty Investment Trust (NYSE: FIS) reported fourth-quarter funds from operations (FFO) of $68.4 million, or $1.03 per share, including payment for early extinguishment of debt. Excluding the debt extinguishment charge, the company reported FFO of $78.2 million, or $1.18 per diluted share, compared with $71.7 million, or $1.11 per diluted share, in the year-ago quarter. In the fourth quarter, Federal Realty reported net income available for common shareholders of $162.1 million and diluted EPS of $2.46, compared with $151.4 million and diluted EPS of $2.35 in Q4 2012. The company’s management declared a quarterly cash dividend of 78 cents, payable on April 15, 2014 to shareholders on record as on March 21, 2014. Federal Realty raised its 2014 guidance for FFO per diluted share to $4.86-4.93, from the earlier guidance of $4.84-4.92.

Western Union Q4 profit falls due to rising costs

The Western Union Company’s (NYSE:WU) net income fell by 27% to $173.4 million, or 31 cents per share, compared to $237.9 million, or 40 cents per share, in the year-ago period. The company’s profitability was eroded by the higher compliance costs and the implementation of pricing and other strategic investments, aimed to achieve future growth. Western Union’s revenue for the fourth-quarter fell marginally by 2% or 1% on a constant currency basis to $1.42 billion. The company’s management approved a share buyback program worth $500 million, expiring June 30, 2015. As guidance for FY2014, the world’s largest money-transfer company is forecasting low to mid-single digit currency revenue growth and GAAP EPS of $1.40-1.50.

Upcoming Earnings Releases

Cisco Systems Inc. (NASDAQ:CSCO) will release its second-quarter results after the market closes on Wednesday, 12 February 2014. The networking equipment maker had shocked the market with lower-than-expected earnings in Q1 FY2014. The company has reported that falling demand from emerging nations and backlash on reports of US government spying in China has hit global sales. Cisco had provided a bleak outlook for the second quarter 2014 earnings release.

MetLife (NYSE:MET) is expected to top estimates for the fourth quarter. The largest life insurer’s results often depend on its derivatives program, which was designed to reduce the risk of being exposed to persistent low interest rates. Rival Prudential Financial (NYSE:PRU) reported a lower-than-expected adjusted operating income due to pretax losses related to the weakening of the Japanese yen against the dollar. The company is scheduled to post earnings on Wednesday, 12 February 2014, after the closing bell.

Dr. Pepper Snapple Group Inc. (NYSE:DPS), a Plano, Texas-based soft drink company, will report fourth quarter and full-year 2013 results on February 12, 2014, before the market bell on Monday. The company is expected to posted weaker earnings due to disappointing carbonated beverages sales in the past 5-6 quarters. The company could post higher profits due to a change in inventory accounting practice to Last-in-first-Out (LIFO) and reduced marketing costs.

NVIDIA Corporation (NASDAQ:NDAQ), a major manufacturer of graphics processing units (GPUs), is expected to post flat year-on-year sales as improved revenues from Tegra 4 products has been squared off by decline in PC product shipments. The results are expected after the closing bell on Wednesday, 12 February 2014.

Thomson Reuters (NYSE:TRI) is expected to release fourth-quarter results on Wednesday, 12 February 2014. Investors will be looking for full-year financial forecast and details if sales to its financial products are still outpacing subscriber cancellations.

CBS Corporation (NYSE:CBS) will report its Q4 2013 earnings on February 12, 2014. Analysts are expecting another solid quarter with growth across all segments. The company’s broadcasting network in Q3 2013 had benefited from solid summer programming. CBS’s earnings in Q4 could benefit from its movie Last Vegas, which grossed $124 million at the box-office globally. Additionally, advertising revenues can boost earnings in Q4.

John Deere (NYSE:DE), one of the largest agricultural equipment producers in the world, is scheduled to report their fiscal Q1 2014 financial results before the bell on Wednesday, February 12, 2014. In Q4 results, John Deere, bettered profit estimates by nearly 12%. Analysts are expecting EPS of $1.52 on $6.6 billion in revenue.

Lorillard Inc. (NYSE:LO), the third largest manufacturer of cigarettes in the US, will release its fourth-quarter and full-year 2013 results before the market hours on Wednesday, February 12, 2014. The company’s consensus EPS is $0.85, representing a 7.59% rise compared to the same quarter last year. Lorillard has bettered analyst estimates in each quarter of 2013.

NetApp (NASDAQ:NTAP) is slated to announce its Q3 FY 2013 results after the market bell on February 12. In the previous quarter, NetApp recorded revenues of $1.55 billion, which were marginally below the company’s guidance. The company had given net revenue guidance for Q3 of $1.62 billion. The company’s strong partnership with major cloud storage providers such as Verizon and Amazon is likely to benefit NetApp’s Q3 results.

Sun Life Financial Inc. (NYSE:SLF) will release its fourth quarter 2013 earnings results on Wednesday, February 12, 2014, after markets hours. The company had reported net operating earnings of $438.5 million in Q3 2013, down 3.6% from the year-ago period. Sun Life Financial Inc.’s operating EPS from continuing operations fell to $0.69 in the third-quarter, compared with $0.77 in the year-ago quarter.

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