Earnings Release Feb 4 2014

Vetted & Compiled by Raqueem Khan

Edited by Vani Rao

Delphi beats Q4’13 earnings expectations, provides weak Q1’14 outlook

Delphi Automotive PLC (NYSE: DLPH) reported an 11% rise in total revenue to $4.18 billion for the fourth quarter of FY2013, beating market expectations of $4.08 billion. The company’s net income (excluding special items) stood at $1.12 a share, 8 cents above the analysts’ expectations of $1.08 per share. Delphi’s profit from its core Electrical and Electronic Architecture business unit rose 38% while that of its and Powertrain Systems business unit rose 20% during the quarter. The company has offered a weak outlook for the forthcoming quarter and expects earnings to be in the range of $4.70 to $4.95 per share and revenue of $17.2 billion to $17.6 billion. On the other hand, Wall Street expects earnings of $4.90 per share on revenue of $17.46 billion for the next quarter.

Fidelity reports fourth-quarter earnings growth, but misses expectations

Fidelity National Information Services Inc.’s (NYSE: FIS) adjusted income increased 10% to $222.0 million in Q4 2013 from $201.4 million in the year-ago period. The company reported a 12% rise in adjusted EPS to $0.76 from $0.68 in the year-ago quarter. The analysts’ consensus for adjusted EPS stood at $0.78. Fidelity’s revenues improved to $1.6 billion in the reported quarter from $1.5 billion in the year-ago period, marginally above the consensus estimates of $1.57 billion. The company replaced its $1-billion share repurchase program by a $2-billion share repurchase program until December 31, 2017. The company affirmed its FY2014 outlook with a 4.5-6.5% revenue growth and adjusted EPS of $3.05-3.16.

McGraw Hill reports profits in fourth quarter of 2013

McGraw Hill Financial Inc. (NYSE: MHFI) reported profits with adjusted EPS of 81 cents a share in the fourth quarter, overshadowing the losses of $216 million, or 76 cents a share, in the prior year quarter and the analysts’ estimates of 78 cents a share. The company set off losses of $404 million from discontinued business during the quarter. McGraw Hill reported a 2% gain in revenue to $1.25 billion, outperforming the analysts’ consensus of $1.24 billion for the quarter under review. The company has provided the guidance of mid-single digit revenue growth and earnings in the range of $3.75 and $3.85 per share. The company is authorized to repurchase 50 million shares, which is expected to be undertaken in FY2014.

Spectra improves sales and bottom line from sale of its US operations

Spectra Energy Corp. (NYSE: SE), North America’s leading pipeline and midstream company, reported a 16% rise in its operating revenue to $1.57 billion from $1.35 billion in the prior year period. The company’s net profit (excluding gains from sale of operations) stood at $236 million, or 35 cents a share, compared to $213 million, or 32 cents, in the year- ago period. Analysts at Wall Street estimated the company’s net revenue at $1.48 billion and earnings per share at 38 cents. The company’s earnings (including gains from sale of business) stood at 41 cents per share. The company is scheduled to discuss its FY2014 outlook and financial plans on February 5, 2014.

C.H. Robinson’s earnings down 63.7%, disappoints market

CH Robinson Worldwide Inc. (NASDAQ:CHRW) reported lower-than-expected revenues and net income for the fourth quarter of FY2013. The company’s total revenue rose 6.1% to $3.15 billion from $2.97 billion in the year-ago period. Net income fell 63.7% to $92.95 million, or 62 cent per share, from $256.39 million, or 1.58 cents, in the year-ago period. The company’s net income fell 6 cents short of the analysts’ consensus of 68 cents. Revenue from its Truckload business fell 5.6% year over year in the reported quarter, while the truckload shipping volume improved 7%. The company stated that its net revenue margin decreased due to higher cost.

ADM’s profit dips as earnings from grain trading declines

Archer Daniels Midland Co. (NYSE: ADM) reported lower fourth-quarter profit of $374 million, or 56 cents a share, compared to $510 million, or 77 cents a share, in the year-ago period. The company’s decline in profits is mainly attributed to the weak earnings from its Grain Trading division, which fell nearly by one-third to $84 million in the Q4, compared to $129 million in the year-ago quarter. Excluding items such as deal related charges, ADM reported Q4 adjusted earnings of 95 cents a share, against 60 cents a share in the prior year period, topping analysts’ expectations of 85 cents a share. On the other hand, revenue fell by 3.1% to $24.14 billion. The company’s Chief Operating Officer, Juan Luciano, decided to tighten up overseas grain trading procedures, following the problems faced by company in buying and selling of grains across Asia, South America, and Eastern Europe.

CME Group’s revenue rises on interest-rate trading volume, but misses expectations

Exchange-operator CME Group Inc.’s (NASDAQ:CME) revenue for Q4 rose 3.9% to $687 million from $660.9 million, boosted by company’s interest-rate contracts, which surged 29% during the quarter. However, revenue fell short of the analyst polls by Thomson Reuters, who on an average had expected revenues of $691 million. CME reported Q4 profit of $193.1 million, or 58 cents per share, compared with $166.8 million, or 50 cents per share, for the comparable period. The company’s adjusted EPS of 64 cents underperformed the analyst polls, which expected EPS of 68 cents. The Chicago-based company is optimistic about the volume gains in the future as the Fed tapering has always proved beneficial for the exchange-operating companies.

Emerson Electric’s strong Q1 results top expectations

Emerson Electric Co. (NYSE:EMR) reported higher-than-expected results for Q1 ending December 2013, boosted by a greater sales in Asia, especially in China, where sales surged 14%. The company said its net sales rose 1% to $5.6 billion, topping the analyst estimates of $5.5 billion. Emerson’s Q1 earnings also rose 2% to $462 million, or 65 cents a share. Excluding acquisition costs, the company reported an EPS of 67 cents. Overall, the company reported an adjusted EPS of $3.54 for the quarter under review. Maintaining a positive outlook for 2014, Patrick Fitzgerald, Director, Investor Relations, projected sales growth of 3% to 5% and EPS excluding goodwill and tax charges to increase in range of 4% to 7%.

Gilead Sciences revenue rises on strong sales of Hepatitis C drug

Gilead Sciences Inc. (NASDAQ:GILD) reported strong fourth-quarter results, driven by strong sales of its hepatitis C drug Sovaldi. The company’s revenue surged 21% to $3.12 billion, easily surpassing Wall Street estimates of $2.85 billion. Moreover, fourth-quarter net income rose 4 % to $791.4 million from $762.5 million in the comparable period. Excluding one-time items, the California-based company earned 55 cents a share, bettering the average analyst estimate of 50 cents a share. The company said that revenue for FY2014 would grow by 6% to 8% from 2013 ranging from $11.3 billion to $11.5 billion, excluding the sales of Solvaldi and other hepatitis C related drugs. Going by the success of the company’s block-buster drug Sovaldi, analysts are expecting full-year 2014 revenue of $14.66 billion. Following the news, the company’s shares surged 4.05% on Tuesday, 4 February 2014, closing the day at $82.02.

Sirius profit declines, but revenue outperform forecasts

Sirius XM Holdings Inc. (NASDAQ:SIRI) reported a 58% decline in its fourth-quarter profit, to $65 million, or a penny per share, compared with $156 million, or 2 cents per share in the year-ago quarter. The company’s profit decline was mainly attributed to the debt-extinguishment charges of $66.2 million. On the other hand, the company’s Q4 2013 revenue rose 12% to $1 billion from $892.4 million in Q4 2012. Analysts were expecting revenue of $982 million or 2 cents per share. Sirius Satellite Radio Company, in its guidance for FY2014, is expecting revenue of over $4 billion and an addition of 1.25 million customers. Sirius XM is currently reviewing a takeover offer from Liberty Media Corp. (NASDAQ:LMCA), and consulting a team of legal and financial advisors for the process. The company’s shares closed the day 0.85% lower at $3.52 on Tuesday, 4 February 2014.

Coming up in the next 24 hours

Cognizant Technology Solutions Corp. (NASDAQ:CTSH), the market leader in global IT consulting and outsourcing services, would report its fourth-quarter results before the market bell. The company has been successfully has been successful in its big data and cloud-based computing ventures, outperforming biggies like Hewlett-Packard (NYSE:HPQ) and IBM (NYSE:IBM). The company is expecting a 20.3% growth in its revenue and positive EPS growth. Analysts have affirmed a positive fourth quarter and annual earnings for the company, as they raised the stock target price.

Marathon Oil Corporation (NYSE:MRO) will release its earnings data on Wednesday, after the market closes. The company is expected to report higher profits, as the overseas oil wells have started their operational and are expected to generate revenues. The company has recently announced a dividend of $0.24 per share. The company provided a full-year production guidance of 410,000 to 425,000 barrels per day.

The Nasdaq OMX Group Inc. (NASDAQ: NDAQ), a major global exchange group, will present its fourth quarter and annual earnings report before the market bell. The company has provided the earning guidance for FY2013 to be in the range of $3.25 to $3.30 per share. Analysts are expecting a decline in fourth-quarter earnings. The company’s revenues have decreased over the last three quarters. However, analysts have an optimistic view towards the stock, as number of buy ratings have increased over the months.

One of the largest life insurers in the US, Prudential Financial Inc. (NYSE:PRU), will announce its fourth-quarter and annual earnings after the market hours on Wednesday. The company is expected to continue its positive quarterly earnings. However, the strong currency may dampen the hopes of a better result, as half of its revenues are generated from international market.

Time Warner Inc. (NYSE:TWX), media and entertainment giant, is expected to report a better fourth-quarter earnings post a surprise strong third quarter earnings. The company has affirmed its fourth-quarter earnings to be flat on year-over-year basis. The company is planning to divesture its publishing unit to form a new company as Time Inc. This spin-off plan would reflect on the company’s earnings, and analysts are cautious taking before taking a call company’s earnings and outlook.

Allergan Inc. (NYSE:AGN) reports its fourth-quarter results before the opening bell on 5 February 2014. The drug manufacturing company had posted positive earnings in the last three quarters. The company has a strong balance sheet and generates stable revenue from its key drugs. Analysts are expecting the company to beat earnings estimates on February 5. Allergan Inc.’s stock rose 57 cents to $112.83 in premarket trading on Tuesday.

The Walt Disney Company (NYSE:DIS) will release its quarter results on Wednesday. The company has beaten earnings estimates in past four quarters and the analysts are predicting the company to beat the estimates on February 5 as well. The company has strengthened his position by various promotional activities and has mastered the strategy of vertical integration by acquiring companies like Pixar and Marvel. Analysts are estimating EPS of $0.91 and revenues of $12.23 billion.

Merck & Co. Inc. (NYSE:MRK) will release its fourth-quarter earnings on Wednesday, before the market hours. The company is expected to report lower revenue from the year-ago levels. Merck’s efforts to cut expenses and transform business structure could help the company grow its profit for the quarter.

O’Reilly Automotive Inc. (NASDAQ:ORLY), a leading retailer in the automotive industry, will announce its fourth quarter and full-year 2013 results as Wednesday, February 5, 2014.

Ralph Lauren Corp. (NYSE:RL) will release its third-quarter results on Wednesday, February 5, 2014. The company posted better-than-expected bottom line results in the last quarter. The merchandising giant has slightly raised its outlook for FY2014 and is expecting sales growth of 5-7%, up from earlier guidance of 4-7%.

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