5:32PM Health Care REIT beats by $0.02, reports revs in-line; lowers FY09 FFO in-line (HCN) 34.93 +1.87 : Reports Q1 (Mar) funds from operations of $0.81 per share, $0.02 better than the First Call consensus of $0.79; revenues rose 14.0% year/year to $144.3 mln vs the $145.1 mln consensus. Co lowers guidance for FY09, sees FFO of $3.20-3.30 vs. $3.22 consensus.
5:09PM Healthsouth beats by $0.17, reports revs in-line; guides FY09 EPS at top end of prior range, in-line with consensus (HLS) 9.99 +0.65 : Reports Q1 (Mar) earnings of $0.39 per share, excluding non-recurring items, $0.17 better than the First Call consensus of $0.22; revenues rose 2.3% year/year to $475.1 mln vs the $479.5 mln consensus. Co issuesin-line guidance for FY09, sees EPS on the higher end of previously given guidance of $0.85-0.90 vs. $0.87 consensus; sees adjusted Consolidated EBITDA in the range of $342.0-352.0 mln.
4:47PM EOG Resources misses by $0.06, beats on revs (EOG) 72.04 +5.96 : Reports Q1 (Mar) earnings of $0.53 per share, excluding non-recurring items, $0.06 worse than the First Call consensus of $0.59; revenues rose 2.1% year/year to $1.16 bln vs the $0.98 bln consensus.
4:36PM MGM Mirage beats by $0.01, misses on revs (MGM) 9.44 +1.58 : Reports Q1 (Mar) loss of $0.06 per share, excluding a gain of $0.44, net of tax, related to the sale of the Treasure Island hotel and casino, $0.01 better than the First Call consensus of ($0.07); revenues fell 20.4% year/year to $1.5 bln vs the $1.58 bln consensus. Co said, "While we experienced significant group cancellations early in the quarter and experienced a continuation of negative consumer spending trends from the fourth quarter, cancellations have tapered off and we see signs that business levels seem to be stabilizing... Our resorts have seen sequential increases in occupancy levels through the first quarter and into April, and our forward booking pace is improving. This is allowing us the opportunity to better yield our room pricing. Additionally, world-class events at our resorts continue to drive revenue and we have an exceptionally strong event calendar in the second and third quarters, with recent events such as the Pacquiao vs. Hatton fight; and numerous other premier concerts and events in the summer months." As a result of the short-term nature of the waiver under the senior credit facility and potential cross-defaults under the indentures, the Company has classified all of its outstanding borrowings as current liabilities as of March 31, 2009.
4:26PM Innophos Holdings beats by $0.12, beats on revs (IPHS) 17.12 +1.79 : Reports Q1 (Mar) earnings of $1.39 per share, excluding non-recurring items, $0.12 better than the First Call consensus of $1.27; revenues rose 17.4% year/year to $190.8 mln vs the $179.8 mln consensus. On a sequential basis, management currently expects second quarter 2009 volumes, excluding GTSP fertilizer sales, to increase approximately 5% from those experienced in the first quarter, with Mexico operating rates unchanged. The Company expects its second quarter 2009 raw material cost structure to be $15-18 million higher than the first quarter due to higher phosphate rock costs in Mexico, the first quarter inventory re-pricing benefit and the mix of phosphoric acid supply in the United States. This increased cost will be offset somewhat by improved fixed cost containment.
4:16PM Herbalife beats by $0.09, beats on revs; guides Q2 EPS above consensus, revs below consensus; guides FY09 EPS above consensus, revs in-line (HLF) : Reports Q1 (Mar) earnings of $0.68 per share, $0.09 better than the First Call consensus of $0.59; revenues fell 13.7% year/year to $521.7 mln vs the $514 mln consensus. Co issuesupside guidance for Q2, sees EPS of 0.69-0.73 vs. $0.67 consensus, a volume point decline of 7-9% and a net sales decline of 14-16% (~$537-550 mln, versus $557 consensus) compared to the same period in 2008, respectively, and an effective tax rate range of 31-32%. Co issues upside guidance for FY09, sees EPS of 2.90-3.10 vs. $2.81 consensus, with sales net sales declining of 7%-9% y/y ($2147-2194 mln, vs. $2148 mln consensus), respectively, along with an effective tax rate range of 31-32%..
4:11PM Comstock misses by $0.02, misses on revs (CRK) 39.38 +3.19 : Reports Q1 (Mar) loss of $0.12 per share, $0.02 worse than the First Call consensus of ($0.10); revenues fell 46.4% year/year to $68.4 mln vs the $73.7 mln consensus. The loss in the first quarter is attributable to the decline in oil and natural gas prices. Comstock averaged $4.75 per Mcf for sales of its natural gas production in the first quarter of 2009, 42% lower than the $8.22 per Mcf realized in 2008's first quarter. Realized oil prices in the first quarter of 2009 averaged $35.03 per barrel, 57% lower than the $81.49 per barrel in 2008's first quarter.
4:09PM Myriad Genetics beats by $0.01, misses on revs (MYGN) 37.74 -0.41 : Reports Q3 (Mar) earnings of $0.25 per share, $0.01 better than the First Call consensus of $0.24; revenues rose 41.6% year/year to $87.5 mln vs the $90.5 mln consensus. The revenue improvement resulted primarily from an increase in the co's sales and marketing efforts, including expansion of its women's health sales force, and the continuation of its direct-to-consumer marketing campaign, which the co believes has resulted in improved physician acceptance and adoption of its molecular diagnostic products. As announced on October 20, 2008, Myriad Genetics plans to spin off its research and drug development businesses from its molecular diagnostics business to form two "well-capitalized, highly-focused, independent public companies." The transaction is expected to be completed by the end of the second calendar quarter of 2009.
4:07PM NetSuite beats by $0.02, reports revs in-line (N) 14.38 +0.39 : Reports Q1 (Mar) earnings of $0.02 per share, excluding non-recurring items, $0.02 better than the First Call consensus of ($0.00); revenues rose 22.0% year/year to $41.6 mln vs the $42 mln consensus.
4:05PM Chesapeake Energy misses by $0.02, misses on revs (CHK) 22.81 +1.93 : Reports Q1 (Mar) earnings of $0.46 per share, excluding non-recurring items, $0.02 worse than the First Call consensus of $0.48; revenues rose 23.8% year/year to $2 bln vs the $2.2 bln consensus. "We are now experiencing substantial savings in service costs from our vendors and anticipate directing approximately 80% of our planned drilling capital expenditures in the remaining three quarters of 2009 to our low-cost Big 4 shale plays. As a result, we anticipate generating exceptional drillbit finding and development costs this year, particularly given the impact of the drilling carries we will receive from our joint venture partners in the Haynesville, Fayetteville and Marcellus Shale plays. In addition, we believe it will be possible during the year to reduce our currently budgeted capex by a further 5-10% as we take advantage of further service cost reductions and much lower leasehold acquisition costs."
4:05PM Ternium S.A. misses by $0.40, misses on revs (TX) 9.49 +0.58 : Reports Q1 (Mar) loss of $0.46 per share, $0.40 worse than the First Call consensus of ($0.06); revenues fell 39.5% year/year to $1.17 bln vs the $1.26 bln consensus. This y/y decrease was mainly due to a US$385.9 mln lower operating result, a US$200.8 mln lower net foreign exchange result and the absence in the 1Q09 of a US$159.9 mln discontinued operations gain present in the 1Q08, partially offset by a US$106.4 mln reduction in income tax expense. Ternium expects apparent demand in its main markets to remain weak in the 2Q09 as a result of the continued reduction of steel inventories. In 2H09, the co anticipates shipments to gradually increase, prices to remain weak due to the steel industry's low capacity utilization in Ternium's regions and costs to be reduced by lower price of steel making inputs and the initiatives that Ternium is carrying out to adjust to the current environment. The co anticipates a lower net debt position at the close of 2Q09, mainly as a result of a continuing decline in working capital needs and a low level of capital expenditures. Ternium plans to achieve a balance between inventory levels and expected demand in 3Q09.
4:02PM Texas Roadhouse beats by $0.03, reports revs in-line (TXRH) 11.17 +0.12 : Reports Q1 (Mar) earnings of $0.20 per share, $0.03 better than the First Call consensus of $0.17; revenues rose 16.5% year/year to $246.1 mln vs the $245.8 mln consensus. The co reported that comparable restaurant sales for the first four weeks of the second quarter of fiscal 2009 decreased approximately 3.1% compared to the same period of the prior year. Additionally, the Company noted that these results were negatively impacted by an estimated 1.25% due to the calendar shift of Easter weekend to this four week April period as compared to the Company's first quarter of the prior year. The Company also announced that effective April 1, 2009, it implemented an average menu price increase of 1.4% throughout its restaurants. While the economic outlook for 2009 remains uncertain, the Company announced it is now estimating 2009 diluted earnings per share to be flat to up 5% as compared to its 53-week 2008 year.
8:48AM Public Service beats by $0.13; guides FY09 EPS in-line (PEG) 31.15 : Reports Q1 (Mar) earnings of $0.95 per share, ex-items, $0.13 better than the First Call consensus of $0.82. Co issues in-line guidance for FY09, sees EPS of $3.00-$3.25 vs. $3.06 consensus. Co states, "...the market remains challenging, with power prices down and demand softening. But, effective portfolio management and cost control efforts give us the confidence to manage through these difficult times."
7:57AM Calgon Carbon reports EPS in-line, misses on revs (CCC) 17.07 : Reports Q1 (Mar) earnings of $0.11 per share, in-line with the First Call consensus of $0.11; revenues rose 0.3% year/year to $90.6 mln vs the $95.7 mln consensus.
7:33AM Tyson Foods beats by $0.01, misses on revs (TSN) 10.56 : Reports Q2 (Mar) loss of $0.05 per share, ex-items, $0.01 better than the First Call consensus of ($0.06); revenues fell 0.5% year/year to $6.31 bln vs the $6.64 bln consensus. Chicken segment sales were $2.4 bln and $4.6 bln, respectively, in the second quarter and six months of fiscal 2009. Operating loss was $46 mln and $332 mln, respectively, in the second quarter and six months of fiscal 2009. Co states, "Our Chicken segment has been profitable since the end of February, and I am pleased with the consistent progress we are making. We have improved our operational efficiencies, our product mix, and we are benefiting from lower grain costs and more favorable chicken prices. Our Beef, Pork and Prepared Foods segments generated financial returns at or near normalized ranges in the second quarter, excluding one-time charges in Prepared Foods."
7:09AM Entergy misses by $0.06, misses on revs; guides FY09 EPS in-line (ETR) 66.90 : Reports Q1 (Mar) earnings of $1.29 per share, $0.06 worse than the First Call consensus of $1.35; revenues fell 2.6% year/year to $2.79 bln vs the $3.07 bln consensus. Co issues in-line guidance for FY09, sees EPS of $6.70-7.30 vs. $6.82 consensus.
6:31AM Barnes Group beats by $0.01, misses on revs; guides FY09 EPS in-line (B)13.92 : Reports Q1 (Mar) earnings of $0.22 per share, $0.01 better than the First Call consensus of $0.21; revenues fell 31.7% year/year to $262.2 mln vs the $286.7 mln consensus. Co issues in-line guidance for FY09, sees EPS of $1.20-1.35 vs. $1.24 consensus.
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