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  • Earnings Miss Analysis - Time Warner Cable
    Fri, Nov. 7 TWC Comment!
  • Earnings Analysis - Hess Corporation
    Fri, Nov. 7 HES Comment!
  • Earnings Beat Analysis - National Oilwell Varco
    Fri, Nov. 7 NOV Comment!
  • Earnings Analysis - Altria Group
    Fri, Nov. 7 MO 5 Comments
  • Earnings Beat Analysis - Goodyear Tire & Rubber Company
    Fri, Nov. 7 GT 1 Comment
  • Earnings Beat Analysis - WellPoint
    Fri, Nov. 7 ANTM Comment!

    Summary

    • Summary numbers: Revenues of USD 18,570.80 million, Net Earnings of USD 630.90 million and EPS of USD 2.22. Performance focus more on top-line than bottom-line: same period year-on-year change of revenue of 3.19% vs. change in earnings of -3.86%.
    • Earnings potentially benefiting from some unlocking of accruals: Year-on-year change in Operating Cash Flow of -56.66% trailed change in earnings.
    • Earnings decline because of decline in EBIT margins, despite positive contribution from unusual items.
  • Earnings Analysis - New York Times
    Fri, Nov. 7 NYT Comment!
  • Earnings Beat Analysis - American Tower Corporation
    Fri, Nov. 7 AMT 1 Comment
  • Earnings Analysis - Enterprise Products Partners
    Fri, Nov. 7 EPD 1 Comment
  • Earnings Analysis: L-3 Communications Holdings
    Thu, Nov. 6 LLL Comment!
  • Earnings Beat Analysis - F5 Networks
    Thu, Nov. 6 FFIV Comment!
  • Earnings Beat Analysis - MasterCard
    Thu, Nov. 6 MA 3 Comments
  • Earnings Analysis: Garmin
    Thu, Nov. 6 GRMN Comment!
  • Dr Pepper Snapple Group, Inc.: Analysis Of Earnings And Revenues Beat
    Sun, Nov. 2 DPS Comment!

    Summary

    • Summary numbers: Revenues of USD 1583 million, Net Earnings of USD 188 million and EPS of USD 0.96. Performance focus more on top-line than bottom-line: same period year-on-year change of revenue of 2.59% vs. change in earnings of -9.18%.
    • Gross margins now 58.18% from 60.08% compared to the same period last year, EBITDA margins now 21.86% from 23.91%.
    • Ability to declare a higher earnings number? Year-on-year change in Operating Cash Flow of -2.65% better than change in earnings.
    • Earnings decline because of decline in EBIT margins, despite positive contribution from unusual items.
  • Mead Johnson Nutrition Company: Analysis Of Earnings Beat
    Sun, Nov. 2 MJN Comment!

    Summary

    • Summary numbers: Revenues of USD 1,090.70 million, Net Earnings of USD 187.60 million and EPS of USD 0.92. Performance focus on earnings: same period year-on-year change in earnings of 16.31% better than change in revenues of 4.19%.
    • Gross margins now 59.85% from 66.99% compared to the same period last year, EBITDA margins now 20.63% from 27.70%.
    • Ability to strengthen the balance sheet? Year-on-year change in Operating Cash Flow of 35.59% better than change in earnings.
    • Year-on-year earnings up despite decline in EBIT margins and pretax margins.
  • Potash Corporation Of Saskatchewan Inc.: Analysis Of Earnings Miss
    Sun, Nov. 2 POT 1 Comment

    Summary

    • The crop pricing environment has been fairly week this year and potash prices have still to come back to their pre-Uralkali announcement days of June 2013. However, POT expects stable potash demand in 2015.
    • The earnings missed expectations, but due largely to unusual taxes.
    • The focus though, would be on expected capital structure, given that their $8.3 billion decade long investment plan would soon draw to a close, generating significant free cash flow.
    • How that cash would be used – dividends or inorganic growth, remains to be seen.
  • PulteGroup, Inc.: Analysis Of Q3 Earnings
    Sun, Nov. 2 PHM Comment!

    Summary

    • Summary numbers: Revenues of USD 1,594.73 million, Net Earnings of USD 140.55 million and EPS of USD 0.37. Performance focus more on top-line than bottom-line: same period year-on-year change of revenue of 2.25% vs. change in earnings of -93.80%.
    • Gross margins now 23.40% from 19.94% compared to the same period last year, EBITDA margins now 14.18% from 10.97%.
    • Ability to declare a higher earnings number? Year-on-year change in Operating Cash Flow of -41.66% better than change in earnings.
    • Earnings decline largely a result of non-operational activity – pretax margins improved from 11.20% to 14.10%.
  • 3M Company: Earnings Boost S&P
    Sun, Nov. 2 MMM 5 Comments

    Summary

    • Results of 3M boosted up the S&P 500 to its highest level in two weeks.
    • Revenues and Earnings grew on a year-ago basis.
    • Stronger sales and better margins contributed to earnings growth of 5.79%.
    • Respiratory face masks, and materials used in cars and aircraft helped push the numbers up.
    • A stronger US economy and growing sales also helped boost forecasts for the whole year end period.
  • DTE Energy Company: Analysis Of Earnings Miss
    Sat, Nov. 1 DTE Comment!

    Summary

    • Summary numbers: Revenues of USD 2595 million, Net Earnings of USD 156 million and EPS of USD 0.88. Performance focus more on top-line than bottom-line: same period year-on-year change of revenue of 9.82% vs. change in earnings of -21.21%.
    • Gross margins now 23.74% from 29.37% compared to the same period last year, EBITDA margins now 20.42% from 25.81%.
    • Earnings decline from operating margin decreases as well as from unusual items.
  • Wyndham Worldwide Corporation: Quarterly Earnings Analysis
    Sat, Nov. 1 WYN Comment!

    Summary

    • Summary numbers: Revenues of USD 1514 million, Net Earnings of USD 206 million and EPS of USD 1.64. Performance focus on earnings: same period year-on-year change in earnings of 10.16% better than change in revenues of 6.10%.
    • Gross margins now 40.09% from 39.45% compared to the same period last year, EBITDA margins now 27.68% from 27.19%.
    • Earnings growth from operating margin improvements as well as from unusual items.
  • Lear Corporation: Quarterly Earnings Analysis
    Sat, Nov. 1 LEA Comment!

    Summary

    • Gross margins now 10.22% from 10.45% compared to the same period last year, EBITDA margins now 7.83% from 7.23%.
    • Earnings decline largely a result of non-operational activity – pretax margins improved from 4.05% to 4.67%.
  • FLIR Systems, Inc.: Analysis Of Earnings Beat
    Sat, Nov. 1 FLIR Comment!

    Summary

    • Summary numbers: Revenues of USD 375.37 million, Net Earnings of USD 52.86 million and EPS of USD 0.37. Performance focus on earnings: same period year-on-year change in earnings of 13.71% better than change in revenues of 4.81%.
    • Gross margins now 52.74% from 52.43% compared to the same period last year, EBITDA margins now 23.35% from 21.90%.
    • Earnings potentially benefiting from some unlocking of accruals: Year-on-year change in Operating Cash Flow of -37.20% trailed change in earnings.
    • Earnings growth from operating margin improvements as well as from unusual items.
  • Avery Dennison Corporation: Analysis Of Earnings Beat
    Sat, Nov. 1 AVY Comment!

    Summary

    • Summary numbers: Revenues of USD 1,559.60 million, Net Earnings of USD 65 million and EPS of USD 0.68. Performance focus on earnings: same period year-on-year change in earnings of 4.84% better than change in revenues of 3.63%.
    • Gross margins now 25.69% from 30.11% compared to the same period last year, EBITDA margins now 7.98% from 10.47%.
    • Ability to declare a higher earnings number? Year-on-year change in Operating Cash Flow of 288.57% better than change in earnings.
    • Earnings growth from operating margin improvements as well as from unusual items.
  • TC PipeLines, LP: Analysis Of Earnings Miss
    Sat, Nov. 1 TCP 1 Comment

    Summary

    • Summary numbers: Revenues of USD 80 million, Net Earnings of USD 30 million and EPS of USD 0.48. Performance focus more on top-line than bottom-line: same period year-on-year change of revenue of -5.88% vs. change in earnings of -16.67%.
    • Gross margins now 82.50% from 77.65% compared to the same period last year, EBITDA margins now 70% from 75.29%.
    • Earnings decline from operating margin decreases as well as from unusual items.
  • Choice Hotels International, Inc.: Analysis Of Quarterly Earnings
    Sat, Nov. 1 CHH Comment!

    Summary

    • Summary numbers: Revenues of USD 215.17 million, Net Earnings of USD 39.42 million and EPS of USD 0.67. Performance focus more on top-line than bottom-line: same period year-on-year revenue change of -3.58% vs. change in earnings of -4.12%.
    • Gross margins now 46.25% from 42.98% compared to the same period last year, EBITDA margins now 32.20% from 30.89%.
    • Potential weakening of the balance sheet? Year-on-year change in Operating Cash Flow of -4.61% trailed its change in earnings.
    • Earnings decline largely a result of non-operational activity – pretax margins improved from 25.81% to 26.01%.
  • Barnes Group Inc.: Analysis Of Quarterly Earnings
    Sat, Nov. 1 B Comment!

    Summary

    • Summary numbers: Revenues of USD 317.66 million, Net Earnings of USD 34.30 million and EPS of USD 0.61. Performance focus on earnings: same period year-on-year change in earnings of 60.43% better than change in revenues of 17.93%.
    • Gross margins now 41.33% from 34.79% compared to the same period last year, EBITDA margins now 22.33% from 15.50%.
    • Ability to declare a higher earnings number? Year-on-year change in Operating Cash Flow of 206.26% better than change in earnings.
    • Earnings growth from operating margin improvements as well as from unusual items.
  • LyondellBasell Industries NV: Analysis Of Earnings Beat
    Sat, Nov. 1 LYB Comment!

    Summary

    • Summary numbers: Revenues of USD 12066 million, Net Earnings of USD 1261 million and EPS of USD 2.45. Performance focus on earnings: same period year-on-year change in earnings of 47.66% better than change in revenues of 8.20%.
    • Gross margins now 18.32% from 15.44% compared to the same period last year, EBITDA margins now 16.31% from 13.17%.
    • Earnings growth from operating margin improvements as well as from unusual items.
  • LifePoint Hospitals: Analysis Of Quarterly Earnings
    Thu, Oct. 30 LPNT Comment!

    Summary

    • Summary numbers: Revenues of USD 1166 million, Net Earnings of USD 27.50 million and EPS of USD 0.59. Performance focus more on top-line than bottom-line: same period year-on-year revenue change of 29.60% vs. change in earnings of -15.38%.
    • Gross margins now 12.10% from 18.77% compared to the same period last year, EBITDA margins now 12.10% from 12.70%.
    • Ability to strengthen the balance sheet? Year-on-year change in Operating Cash Flow of 25.89% better than change in earnings.
    • Earnings decline from operating margin decreases as well as from unusual items.
  • Magellan Health: Analysis Of Earnings Beat
    Thu, Oct. 30 MGLN Comment!

    Summary

    • Summary numbers: Revenues of USD 923.17 million, Net Earnings of USD 27.13 million and EPS of USD 1. Performance focus more on top-line than bottom-line: same period year-on-year change of revenue of 5.67% vs. change in earnings of -42.55%.
    • Gross margins now 5.30% from 6.26% compared to the same period last year, EBITDA margins now 5.30% from 6.26%.
    • Ability to declare a higher earnings number? Year-on-year change in Operating Cash Flow of -17.08% better than change in earnings.
    • Earnings decline from operating margin decreases as well as from unusual items.
  • ImmunoGen: Analysis Of Earnings Miss
    Thu, Oct. 30 IMGN 1 Comment

    Summary

    • Summary numbers: Revenues of USD 13.20 million, Net Earnings of USD -22.28 million and EPS of USD -0.26. Performance focus more on top-line than bottom-line: same period year-on-year change of revenue of -23.32% vs. change in earnings of -98.49%.
    • Earnings decline from operating margin decreases as well as from unusual items.
    • Top-line performance is among the lowest thus far in its sector – inviting the potential of loss in market share as well this period.
  • Bristol-Myers Squibb: Analysis Of Earnings Beat, Missed Revenues
    Wed, Oct. 29 BMY 3 Comments

    Summary

    • Bristol-Myers Squibb Company (NYSE:BMY) earnings beat estimates, up 4.19% on a year-ago basis and up almost 117% from last quarter.
    • However, overall revenues missed expectations with the virology unit and their schizophrenia drug reporting below par numbers.
    • Sales of Eliquis, their DVT drug though, have grown on the back on additional approvals. The oncology division has performed well too.
    • Earnings growth due to the contribution of unusual items.
  • National Penn Bancshares, Inc. Analysis Of Quarterly Earnings
    Tue, Oct. 28 NPBC 1 Comment