Market Overview

Earnings Roundup

ConocoPhillips (NYSE: COP) reported a drop in its first-quarter profit. ConocoPhillips' quarterly profit declined to $2.94 billion, or $2.27 per share, versus $3.03 billion, or $2.09 per share, in the year-earlier period. Excluding one-time items, ConocoPhillips earned $2.02 per share. Its production dropped to 1.64 million barrels of oil equivalent a day. Analysts were expecting earnings of $2.08 per share, with production of 1.59 million barrels of oil equivalent a day.

Eaton Corp (NYSE: ETN) reported an 8% surge in first-quarter profit and lifted its full-year view. Eaton's quarterly net earnings climbed to $311 million, or $0.91 per share, from $287 million, or $0.83 per share, in the year-earlier period. Excluding acquisition charges, the company earned $0.92 per share. Eaton's sales climbed 4% to $3.96 billion, versus analysts' estimates of $4.01 billion.

Xerox Corp (NYSE: XRX) reported a 4.3% drop in its first-quarter net income. Xerox's quarterly earnings fell to $269 million, from $281 million in the year-ago quarter. Its earnings per share came in at $0.19 per share. Its adjusted earnings were $0.23 per share. Xerox's revenue rose to $5.5 billion from $5.47 billion. However, analysts were expecting a profit of $0.23 per share on revenue of $5.47 billion.

Roper Industries Inc (NYSE: ROP) reported a 22% rise in its first-quarter earnings. Roper Industries lifted its full-year earnings forecast to $4.75 to $4.91 per share, versus its earlier view of $4.67 to $4.87 per share. Roper's quarterly profit surged to $108.3 million, or $1.09 per share, versus $89 million, or $0.91 per share, in the year-ago period. The company in February expected earnings of $1.01 to $1.05 per share. Its sales rose 10% to $711.1 million, versus analysts' estimates of $704 million. Its gross margin climbed to 55% from 54.3%.

D.R. Horton Inc (NYSE: DHI) reported a 46% rise in its second-quarter profit. D.R. Horton's quarterly profit rose to $40.6 million, or $0.13 per share, versus $27.8 million, or $0.09 per share, in the year-earlier period. The company's revenue surged to $935.6 million from $733.1 million. Analysts were expecting earnings of $0.04 per share on revenue of $853.5 million.

Hasbro Inc (NASDAQ: HAS) swung to a first-quarter loss. Hasbro posted a quarterly loss of $2.6 million, or $0.02 per share, from a year-ago profit of $17.2 million, or $0.12 per share. Excluding severance costs, Hasbro earned $0.04 per share. Its sales dropped to $648.9 million from $672 million. Analysts were expecting earnings of $0.08 per share on sales of $667.6 million.

Wolverine World Wide Inc (NYSE: WWW) reported a 13% drop in its first-quarter earnings. The company lifted its full-year earnings forecast to $2.70 to $2.80 per share. However, it cut its sales view to $1.46 billion to $1.5 billion, versus its January outlook of $1.49 billion to $1.53 billion. Wolverine's quarterly profit dropped to $31.2 million, or $0.64 per share, versus $35.9 million, or $0.72 per share, in the year-ago period. Its revenue fell 2.4% to $322.8 million. However, analysts were expecting earnings of $0.55 per share on revenue of $333 million.

Brinker International Inc (NYSE: EAT) reported a better-than-expected profit in the fiscal third-quarter. Brinker's quarterly net income surged to $44.9 million, from $40.2 million in the year-ago period. Its adjusted earnings came in at $0.60 per share, versus analysts' estimates of $0.56 per share. Brinker's revenue rose to $742 million, from $717.1 million, versus analysts' estimates of $729.8 million.

Sonic Automotive Inc (NYSE: SAH) reported a 24% increase in its Q1 profit from continuing operations. Sonic Automotive's revenue from new vehicle sales climbed 12%. Its quarterly total revenue surged 9% to $1.98 billion. Sonic Automotive's earnings on continuing operations climbed to $19.5 million, or $0.33 per share, from $15.7 million, or $0.27 per share, in the year-ago period. Its net income jumped 37% to $20.5 million.

B/E Aerospace Inc (NASDAQ: BEAV) reported a 37% rise in its first-quarter profit. B/E Aerospace's quarterly profit surged to $68.8 million, or $0.67 per share, from $50.3 million, or $0.49 per share, in the year-ago period. Excluding items, B/E Aerospace earned $0.70 per share. Its revenue surged 25% to $747.3 million. However, analysts were expecting earnings of $0.62 per share on revenue of $702 million.

Bank of Hawaii Corp (NYSE: BOH) reported a better-than-expected first-quarter profit. Bank of Hawaii's quarterly net income rose to $43.8 million, or $0.95 per share, from $42.4 million, or $0.88 per share, in the year-earlier period. However, analysts were expecting earnings of $0.81 per share. Bank of Hawaii's provision for credit losses dropped to $351,000 from $4.7 million.

MGIC Investment Corp (NYSE: MTG) posted a narrower first-quarter loss. MGIC Investment posted a quarterly loss of around $20 million, or $0.10 per share, versus a year-ago loss of $33.7 million, or $0.17 per share. Its revenue climbed 7.5% to $379.7 million. Analysts were expecting a loss of $0.46 per share on revenue of $310 million.

SunTrust Banks Inc (NYSE: STI) reported a 39% rise in its first-quarter net income. SunTrust's quarterly earnings surged to $250 million, or $0.46 per share, versus $180 million, or $0.08 per share, in the year-ago quarter. Its revenue rose to $2.22 billion from $2.16 billion.

Check Point Software Technologies Ltd (NASDAQ: CHKP) reported an 18% rise in its first-quarter net income. Check Point's quarterly earnings climbed to $143.6 million, or $0.68 per share, versus $122.1 million, or $0.57 per share, in the year-ago quarter. Its adjusted earnings came in at $0.74 per share. Check Point's revenue rose to $313.1 million from $281.2 million. However, analysts were expecting earnings of $0.72 per share on revenue of $312.9 million.

Banco Bradesco SA (NYSE: BBD) reported a rise in its first-quarter net income. Banco Bradesco's quarterly net income climbed to 2.793 reais ($1.49 billion), from 2.702 billion reais, in the year-ago period. Its profit excluding one-time items climbed 3.9% to 2.845 billion reais in the quarter. However, the bank was projected to post earnings of 2.853 billion reais.

Alibaba.com Ltd (OTC: ALBIY) posted a 25% fall in its first-quarter earnings. Alibaba.com reported that its January-March net profit dropped to 339.2 million yuan ($53.8 million), versus 452.5 million yuan, in the year-ago period.

Royal Philips Electronics reported a rise in its first-quarter net profit. Philips' quarterly net profit surged to EUR248 million, versus EUR137 million, in the year-ago period. Its sales climbed 7% to EUR5.6 billion, versus analysts' estimates of EUR5.42 billion.

Mexican brewer Grupo Modelo S.A.B. de C.V. (OTC: GPMCY) reported a 5.4% rise in its first-quarter profit. Modelo's quarterly profit climbed to 2.259 billion pesos ($176 million), versus 2.143 billion pesos, in the year-ago period.

Posted-In: Earnings RoundupEarnings News Pre-Market Outlook Markets

 

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