4:39PM Nordson beats by $0.19, beats on revs; guides Q1 EPS below consensus, revs below consensus (NDSN) 32.80 +1.76 : Reports Q4 (Oct) earnings of $1.00 per share, excluding $0.10 per share charge related to previously announced severance and restructuring activity, $0.19 better than the First Call consensus of $0.81; revenues rose 2.5% year/year to $298 mln vs the $288.7 mln consensus. Co issues downside guidance for Q1, sees EPS of $0.18-0.29, excluding non-recurring items, vs. $0.52 consensus; sees Q1 revs of $186.0-195.8 mln vs. $220.08 mln consensus.
4:18PM Nike beats by $0.02, misses on revs (NKE) 50.64 +1.00 : Reports Q2 (Nov) earnings of $0.80 per share, $0.02 better than the First Call consensus of $0.78; revenues rose 6.0% year/year to $4.6 bln vs the $4.69 bln consensus. The co reported worldwide futures orders for athletic footwear and apparel, scheduled for delivery from December 2008 through April 2009, totaling $6.7 bln, 1% lower than such orders reported for the same period last year. Excluding the effect of changes in foreign currency exchange rates, reported orders grew 6%... By region, futures orders for the U.S. were up 6%; EMEA (which includes Europe, the Middle East and Africa) decreased 13%; Asia Pacific increased 11% and the Americas grew 6%. By region, changes in currency exchange rates decreased reported futures orders growth by 12 percentage points in Europe; by 1 percentage point in Asia Pacific; and by 20 percentage points in the Americas region.
4:15PM Ryder System announces strategic initiatives; workforce reduction; guides Q4 to low end of previous range (R) 36.60 +1.95 : Co announced several strategic and tactical initiatives to address current global economic conditions and drive long- term profitable growth. The initiatives include discontinuing current operations in several international markets and eliminating positions primarily in the U.S., to align costs with current and anticipated levels of business. In addition, the Company is responding to near-term challenges in the overall economy by eliminating approximately 700 positions primarily in the U.S. In total, the Company expects the fourth quarter 2008 pre-tax charges to be approximately $60 million to $67 million (approximately $53 million to $60 million, after-tax). "We expect fourth quarter 2008 earnings per share, excluding restructuring and other charges, to be at the low end of our previously established range of $1.03 to $1.13." (vs $0.86 First Call consensus)
4:13PM Atheros Communications lowers Q4 EPS and revs below consensus (ATHR) 15.99 +1.16 : Co lowers Q4 EPS to $0.14-0.19, ex-items, vs $0.35 consensus, down from $0.36-0.40; lowers revs to $95-100 mln vs $130.6 mln consensus, down from flat to down 5% sequentially, which equates to ~$131.2-138.1 mln. Co says, "The economic environment deteriorated significantly throughout Q4 and consumer demand across multiple geographies weakened. Additionally throughout the supply chain there have been aggressive reductions in inventory levels as the quarter progressed resulting in order cancellations and rescheduling of existing backlog. While we anticipated a weakening economy in the fourth quarter, demand from our PC OEM channel and to a lesser extent, our networking channel, slowed considerably more than expected."
4:05PM Paychex misses by $0.01, misses on revs; guides FY09 revs in-line (PAYX) 26.61 -0.01 : Reports Q2 (Nov) earnings of $0.39 per share, $0.01 worse than the First Call consensus of $0.40; revenues rose 3.2% year/year to $524.2 mln vs the $533 mln consensus. Co issues guidance slightly below consensus for FY09, sees FY09 revs growing 2-4% or to ~$2.11-2.15 bln vs. $2.18 bln consensus. "During the second quarter, the effects of the credit crisis and weakening economic conditions were clearly seen in our financial results. While the credit crisis reduced the returns on our investment portfolios, we managed our investments in a manner that protected principal and ensured we met the liquidity needs of our clients each and every day. The weakening economy was apparent in many of our key financial indicators. Over the past six months, we experienced companies going out of business increasing 12%, new business starts declining 13%, checks per client decreasing 1.5%, and we saw lower levels of new hire reporting."
4:01PM Herman Miller beats by $0.01, misses on revs (MLHR) 14.23 +0.24 : Reports Q2 (Nov) earnings of $0.60 per share, $0.01 better than the First Call consensus of $0.59; revenues fell 5.8% year/year to $476.6 mln vs the $486.9 mln consensus.
8:09AM Morgan Stanley reports wider than expected loss (MS) 16.13 : Reports Q4 (Nov) loss of $2.24 per share, $1.90 worse than the First Call consensus of ($0.34) (analyst EPS estimates ranged from -$1.15 to +$0.50). Net revenues were $1.8 bln, compared with negative $0.4 bln in last year's fourth quarter. Total capital as of November 30, 2008 was $192.3 bln, including $61.1 bln of common equity, preferred equity and junior subordinated debt issued to capital trusts. As of November 30, 2008, the Company has repurchased 39 mln shares of its common stock during this fiscal year as part of its capital management share repurchase program and book value per common share was $30.24, based on 1.0 bln shares outstanding. On December 16, 2008, the Board of Directors of Morgan Stanley approved a change in the Firm's fiscal year end from November 30 to December 31 of each year. This change to a calendar year reporting cycle will begin January 1, 2009... Co says it is targeting an additional $2 bln in cost savings including the annualized effect of the previously announced headcount reductions and additional non-compensation expense savings. Co also announces it is launching a Retail Banking Group and recruiting veteran senior bankers Cece S. Sutton and Jonathan W. Witter to lead the business and to build bank deposits leveraging Morgan Stanley's existing retail banking capabilities and financial holding company structure. The Company announced that its Board of Directors declared a $0.27 quarterly dividend per common share.
8:01AM Lindsay Corp misses by $0.01, beats on revs (LNN) 38.30 : Reports Q1 (Nov) earnings of $0.51 per share, $0.01 worse than the First Call consensus of $0.52; revenues rose 49.0% year/year to $113.1 mln vs the $94.1 mln consensus. Lindsay's backlog of unshipped orders at November 30, 2008 was $40.1 million compared with $51.2 million at November 30, 2007. Irrigation backlog of $23.8 million decreased $6.1 million ($9.0 million prior to the inclusion of Watertronics) from the first quarter of fiscal 2008, and decreased $47.9 million from August 31, 2008. Infrastructure backlog of $16.3 million decreased $5.0 million from the first quarter of fiscal 2008 and decreased $4.3 million from the fiscal 2008 year-end.
7:34AM Schnitzer Steel expects to report a Q1 net loss due to a $60 mln write down of
inventories; consensus is for EPS of $0.30 (SCHN) 35.96 : Schnitzer Steel expects to report a Q1 (Nov) net loss vs $0.30 consensus, resulting from a $60 mln write down of inventories. A number of renegotiations, deferrals and cancellations of customer contracts have been experienced, this led to lower sales volumes and reduced sales prices. This is anticipated to result in a non-cash write down of the value of the co's Metals Recycling and Steel Manufacturing inventories by an amount currently estimated to be in the range of $60 million. Co says "While we will be reporting a first quarter net loss, we are encouraged by the fact that the financial results for our Metals Recycling and Steel Manufacturing Businesses are expected to be approximately breakeven prior to the inventory write downs." The co is making this announcement due to the unprecedented market conditions in which it is operating. The co does not plan to provide any further updates prior to Jan 8, 2009. In the future, the co does not intend to provide updated guidance except when it releases full quarterly results.
7:32AM ConAgra beats by $0.06, beats on revs; reaffirms FY09 EPS guidance (CAG) 15.05 : Reports Q2 (Nov) earnings of $0.43 per share, excluding non-recurring items, $0.06 better than the First Call consensus of $0.37; revenues rose 10.6% year/year to $3.26 bln vs the $3.16 bln consensus. Co reaffirms guidance for FY09, sees EPS of slightly above $1.50, excluding non-recurring items, vs. $1.43 consensus.
7:30AM Newell Rubbermaid cuts Q4 and FY08 EPS guidance (NWL) 13.18 : Co announces that in light of the continuing significant deterioration of global economic conditions and the resulting impact on many of its retail customers, particularly in recent weeks, it now sees Q4 EPS of $0.06-$0.10 (vs $0.32 consensus), down from its previous range of $0.29-$0.34. For FY08, the cut their EPS range to a range of $1.17-$1.21 (vs $1.43 consensus) from the previous range of $1.40-$1.45. The co also said that net sales for Q4 are expected to show a year over year decline in the low teens percentage range. The company anticipates it will generate full year operating cash flow of $375 to $400 million, in line with previous guidance. "We are seeing extraordinary volatility, weaker than expected demand, and customer inventory reductions across virtually all geographies and market segments, with trends worsening as we near the end of our fourth quarter."
7:06AM General Mills beats by $0.13, reports revs in-line; guides FY09 EPS slightly above prior range (GIS) 61.25 : Reports Q2 (Nov) earnings of $1.36 per share, excluding non-recurring items, $0.13 better than the First Call consensus of $1.23; revenues rose 8.3% year/year to $4.01 bln vs the $4.01 bln consensus. Co issues guidance for FY09, sees EPS of $3.83-3.87 vs. $3.89 consensus, prior range $3.81-3.85.
7:02AM Joy Global beats by $0.03, beats on revs; guides FY09 EPS & revs below consensus (JOYG) 22.66 : Reports Q4 (Oct) earnings of $1.11 per share, $0.03 better than the First Call consensus of $1.08; revenues rose 40.2% year/year to $1.03 bln vs the $1.01 bln consensus. Co issues downside guidance for FY09, sees EPS of $3.60-4.00 vs. $4.20 consensus; co sees revs of $3.5-3.7 bln vs $3.98 bln consensus.
6:32AM Magellan Health issues in-line guidance for FY09 (MGLN) 32.50 : Co issues in-line guidance for FY09 (Dec), sees EPS of $1.96-2.51 vs. $2.02 First Call consensus; sees FY09 (Dec) revs of $2.5-2.6 bln vs. $2.44 bln consensus. Cash flow from operations is expected to be in the range of $129 million to $178 million in 2009, with a net increase in cash, cash equivalents and unrestricted investments of $96 million to $157 million by the end of 2009, excluding the impact of any further share repurchases.
Showing posts with label MLHR. Show all posts
Showing posts with label MLHR. Show all posts
Wednesday, December 17, 2008
Wednesday, September 17, 2008
Earnings - Sept 17 2008
4:01PM Herman Miller beats by $0.05, misses on revs; guides Q2 EPS in-line, revs in-line (MLHR) 26.87 -0.76 : Reports Q1 (Aug) earnings of $0.60 per share, $0.05 better than the First Call consensus of $0.55; revenues fell 2.6% year/year to $479.1 mln vs the $489 mln consensus. Co issues in-line guidance for Q2, sees EPS of $0.59-0.66 vs. $0.64 consensus; sees Q2 revs of $490-515 mln vs. $502.76 mln consensus. Co said, that these estimates reflect both a challenging U.S. demand picture and the rising commodity costs previously discussed, offset partially by the favorable impacts of the price increase and a lower share count.
9:11AM Constellation Energy affirms bank commitment for $2 bln credit facility, reiterates limited exposure to financial services sector, reaffirms Q3 and FY08 EPS guidance, and confirms strategic alternatives (CEG) 30.76 : Co reaffirms its Q3 EPS guidance of $0.83-$0.99 vs First Call conensus of $0.98 and reaffirms its FY08 EPS guidance of $5.25-$5.75 vs First Call consensus of $5.47. CEG also announces that the sponsoring banks have confirmed that the firm, underwritten commitment for an additional $2 bln credit facility announced on Aug 27, 2008, remains in effect. CEG also confirms that it has retained Morgan Stanley and UBS to act in an advisory capacity to evaluate strategic alternatives. The company and its advisors are in active discussions with potential strategic partners. CEG also reinforced that its credit exposure to financial institutions is limited. The company's estimated aggregate credit exposure, net of collateral, to these financial institutions was approx $120 mln, with no single financial institution representing more than $28 mln of net credit risk exposure.
8:19AM Brady beats by $0.02, beats on revs; guides FY09 EPS below consensus, revs below consensus (BRC) 35.65 : Reports Q4 (Jul) earnings of $0.64 per share, $0.02 better than the First Call consensus of $0.62; revenues rose 9.4% year/year to $396.8 mln vs the $385.7 mln consensus. Co issues downside guidance for FY09, sees EPS of $2.54-2.63 vs. $2.69 consensus, down from $2.63-2.75 previously; sees FY09 revs of $1.52-1.55 bln vs. $1.57 bln consensus, down from $1.56-1.59 bln previously.
7:32AM Somanetics beats by $0.03, reports revs in-line; reaffirms FY08 revs guidance (SMTS) 22.03 : Reports Q3 (Aug) earnings of $0.23 per share, $0.03 better than the First Call consensus of $0.20; revenues rose 22.0% year/year to $12.4 mln vs the $12.5 mln consensus. Co reaffirms guidance for FY08, sees FY08 revs of $56.2-50.0 mln vs. $47.78 mln consensus.
7:08AM General Mills beats by $0.09, beats on revs; guides FY09 EPS in-line (GIS) 69.55 : Reports Q1 (Aug) earnings of $0.96 per share, excluding non-recurring items, $0.09 better than the First Call consensus of $0.87; revenues rose 13.8% year/year to $3.5 bln vs the $3.28 bln consensus. Co issues in-line guidance for FY09, sees EPS of $3.81-$3.85 vs. $3.84 consensus. The co said that fiscal 2009 net sales are expected to grow at a mid single-digit rate, driven primarily by price and mix. Segment operating profits are also expected to grow at a mid single-digit rate.
9:11AM Constellation Energy affirms bank commitment for $2 bln credit facility, reiterates limited exposure to financial services sector, reaffirms Q3 and FY08 EPS guidance, and confirms strategic alternatives (CEG) 30.76 : Co reaffirms its Q3 EPS guidance of $0.83-$0.99 vs First Call conensus of $0.98 and reaffirms its FY08 EPS guidance of $5.25-$5.75 vs First Call consensus of $5.47. CEG also announces that the sponsoring banks have confirmed that the firm, underwritten commitment for an additional $2 bln credit facility announced on Aug 27, 2008, remains in effect. CEG also confirms that it has retained Morgan Stanley and UBS to act in an advisory capacity to evaluate strategic alternatives. The company and its advisors are in active discussions with potential strategic partners. CEG also reinforced that its credit exposure to financial institutions is limited. The company's estimated aggregate credit exposure, net of collateral, to these financial institutions was approx $120 mln, with no single financial institution representing more than $28 mln of net credit risk exposure.
8:19AM Brady beats by $0.02, beats on revs; guides FY09 EPS below consensus, revs below consensus (BRC) 35.65 : Reports Q4 (Jul) earnings of $0.64 per share, $0.02 better than the First Call consensus of $0.62; revenues rose 9.4% year/year to $396.8 mln vs the $385.7 mln consensus. Co issues downside guidance for FY09, sees EPS of $2.54-2.63 vs. $2.69 consensus, down from $2.63-2.75 previously; sees FY09 revs of $1.52-1.55 bln vs. $1.57 bln consensus, down from $1.56-1.59 bln previously.
7:32AM Somanetics beats by $0.03, reports revs in-line; reaffirms FY08 revs guidance (SMTS) 22.03 : Reports Q3 (Aug) earnings of $0.23 per share, $0.03 better than the First Call consensus of $0.20; revenues rose 22.0% year/year to $12.4 mln vs the $12.5 mln consensus. Co reaffirms guidance for FY08, sees FY08 revs of $56.2-50.0 mln vs. $47.78 mln consensus.
7:08AM General Mills beats by $0.09, beats on revs; guides FY09 EPS in-line (GIS) 69.55 : Reports Q1 (Aug) earnings of $0.96 per share, excluding non-recurring items, $0.09 better than the First Call consensus of $0.87; revenues rose 13.8% year/year to $3.5 bln vs the $3.28 bln consensus. Co issues in-line guidance for FY09, sees EPS of $3.81-$3.85 vs. $3.84 consensus. The co said that fiscal 2009 net sales are expected to grow at a mid single-digit rate, driven primarily by price and mix. Segment operating profits are also expected to grow at a mid single-digit rate.
Wednesday, June 25, 2008
Earnings - 25th June 2008
4:35PM Energen raises FY08 and FY09 EPS guidance on higher commodity price assumptions (EGN) 15.62 -0.38 : Co announced that it is raising the underlying commodity price assumptions applicable to the unhedged production of its oil and gas exploration and production unit for the remainder of 2008 and for 2009. Co sees FY08 $4.30-4.70 vs $4.50 First Call consensus, up from previous guidance of $4.15-4.55; sees FY09 $5.15-5.55 vs $5.03 First Call consensus, up from previous guidance of $4.65-5.05. Energen's revised NYMEX price assumptions for unhedged production for the rest of 2008 and for the year 2009 are $10 per thousand cubic feet of natural gas and $100 per barrel of oil; its new natural gas liquids price assumption is $1.30 per gallon for the remainder of 2008 and for 2009.
4:28PM Autodesk reaffirms Q2 guidance; narrows Q3 EPS, lowers Q3 revs; sees FY09 EPS in-line, revs above consensus (ADSK) 36.35 +0.61 : Co reaffirms Q2 EPS of $0.50-0.52 vs $0.53 consensus, sees revs of $600-610 mln vs $605.4 mln consensus; narrows Q3 EPS of $0.53-0.55 vs $0.55 consensus, from $0.53-0.56, lowers revs to $615-630 mln vs $611.8 mln consensus, down from $605-620 mln. Co sees FY09 EPS of $2.20-2.30 vs $2.25 consensus, revs of $2.48-2.53 bln vs $2.47 bln consensus. Co updated its financial guidance to reflect the anticipated effects of the acquisition of Moldflow. ADSK acquired Moldflow for $22 per share, or ~$297 million, less the amount in Moldflow's cash balance and proceeds from options exercises.
4:28PM CKE Restaurants beats by $0.04, reports revs in-line (CKR) 12.30 +0.54 : Reports Q1 (Apr) earnings of $0.31 per share, $0.04 better than the First Call consensus of $0.27; revenues fell 3.2% year/year to $466.2 mln vs the $465.5 mln consensus. Blended company-operated same-store sales for the first fiscal quarter of fiscal 2009 increased 1.8%. Same-store sales increased 3.9% at Carl's Jr. and decreased 0.6% at Hardee's company-operated restaurants.
4:20PM Nike beats by $0.02, beats on revs (NKE) 65.97 +0.00 : Reports Q4 (May) earnings of $0.98 per share, $0.02 better than the First Call consensus of $0.96; revenues rose 16.1% year/year to $5.09 bln vs the $4.95 bln consensus. "The Company reported worldwide futures orders for athletic footwear and apparel, scheduled for delivery from June 2008 through November 2008, totaling $8.8 bln, 11 percent higher than such orders reported for the same period last year. Changes in currency exchange rates increased reported orders growth by 3 percentage points."
4:17PM Bed Bath & Beyond beats by $0.03, beats on revs (BBBY) 28.57 +0.27 : Reports Q1 (May) earnings of $0.30 per share, $0.03 better than the First Call consensus of $0.27; revenues rose 6.1% year/year to $1.65 bln vs the $1.62 bln consensus. Comparable store sales for the fiscal first quarter of 2008 increased by approximately 0.8%, compared with an increase of approximately 1.6% in last year's fiscal first quarter.
4:10PM Research In Motion misses by $0.01, misses on revs; guides Q2 EPS below consensus, revs above consensus (RIMM) 142.33 +1.85 : Reports Q1 (May) earnings of $0.84 per share, $0.01 worse than the First Call consensus of $0.85; revenues rose 19.1% year/year to $2.24 bln vs the $2.27 bln consensus. Co issues mixed guidance for Q2, sees EPS of $0.84-0.89 vs. $0.90 consensus; sees Q2 revs of $2.55-2.65 bln vs. $2.44 bln consensus. RIMM Q1 (May) net Blackberry subscriber additions 2.3 mln vs. guidance of 2.20 mln. RIMM sees Q2 (Aug) net subs of 2.6 mln... The revenue breakdown for the quarter was approximately 82% for devices, 13% for service, 3% for software and 2% for other revenue. During the quarter, RIM shipped approximately 5.4 mln devices. "We are pleased to report another record quarter with revenue increasing 107% as the popularity of the BlackBerry platform continued to spread in business, government and consumer segments. Our comprehensive technology and business strategies continue to reap strong results in the market and RIMM is well positioned to build on its momentum throughout the remainder of fiscal 2009... As we prepare this summer to ship our 40 millionth BlackBerry smartphone, we continue to steadily scale our business and partnerships to support the opportunities ahead in this thriving sector."
4:07PM Herman Miller beats by $0.14, beats on revs; guides Q1 EPS in-line, revs in-line (MLHR) 23.99 +0.18 : Reports Q4 (May) earnings of $0.71 per share, $0.14 better than the First Call consensus of $0.57; revenues rose 7.0% year/year to $519.1 mln vs the $488.4 mln consensus. Co issues in-line guidance for Q1, sees EPS of $0.49-0.56 vs. $0.55 consensus; sees Q1 revs of $470-495 mln vs. $491.05 mln consensus. Co said, "Changing economic conditions required us to closely examine how and where we invest our resources to optimize our growth and minimize the impact of ongoing challenges in the U.S. market. As a result, we are well positioned for what we expect will continue to be a difficult near-term environment."
4:05PM Oracle beats by $0.03, beats on revs (ORCL) 22.47 +0.24 : Reports Q4 (May) earnings of $0.47 per share, excluding non-recurring items, $0.03 better than the First Call consensus of $0.44; revenues rose 23.8% year/year to $7.28 bln vs the $6.85 bln consensus. "Non-GAAP operating margins were up 200 basis points in FY08 to a record 43.0%. Non-GAAP earnings per share were up 29% for the year and non-GAAP EPS has tripled over the last five years. Oracle has delivered solid results year-after-year." "Oracle's application new software license revenues grew 38% in FY08, while SAP's new software license revenues grew only 13% in their most recent fiscal year. This is the third consecutive year we've taken applications market share from SAP." "Four years ago we publicly announced a five year plan to deliver non-GAAP earnings per share at a compound annual growth rate of 20%. During the past four years we exceeded our plan and delivered a non-GAAP EPS CAGR of over 26%."
4:03PM Red Hat reports EPS in-line, beats on revs (RHT) 22.21 +0.72 : Reports Q1 (May) earnings of $0.18 per share, excluding non-recurring items, in-line with the First Call consensus of $0.18; revenues rose 52.0% year/year to $156.6 mln vs the $153 mln consensus.
11:23AM Industrial Services sees Q2 EPS of $0.42-0.44 vs $0.22 a year ago (IDSA) 15.99 +1.66 : Co provides financial guidance for the second quarter and first six months of 2008. Based on actual results from the first two months of the period and on projected trends, the company said Q2 2008 earnings are expected to be in the range of $0.42-0.44 per share vs $0.22 a year ago. For the first six months of 2008, co estimates EPS of $0.72-0.74 vs $0.44 a year ago. "Global demand for commodities continues to be strong, as does pricing for ferrous and non-ferrous materials. We are well positioned to benefit from these demand and pricing trends."
9:13AM Airmedia raises Q2 rev guidance above consensus (AMCN) 13.47 : Co issues upside guidance for Q2 (Jun), raises Q2 (Jun) revenue guidance to $29-30 mln from $26-28 mln vs. $26.86 mln First Call consensus. Co said that despite the impact of the Sichuan earthquake and the slowdown of air passenger volume growth, they are able to raise guidance due to stronger than expected results of all products lines, especially the digital frame business
8:10AM Monsanto beats by $0.11, misses on revs; guides FY08 EPS above consensus (MON) 135.79 : Reports Q3 (May) earnings of $1.45 per share, $0.11 better than the First Call consensus of $1.34; revenues rose 26.2% year/year to $3.59 bln vs the $3.71 bln consensus. Co raised guidance for FY08, sees EPS of ~$3.40 vs. $3.39 consensus, up from $3.15-3.25. Co now expects that its free cash flow for fiscal year 2008 will be $550 million. The co expects net cash provided by operating activities to be in the range of $2.6 bln. As part of today's announcement, MON also published a preliminary report on the co's biotech trait acreage for fiscal year 2008 on its website.
8:06AM Dean Foods guides Q2 EPS above consensus; reaffirms FY08 guidance (DF) 18.39 : Co issues upside guidance for Q2 (Jun), sees EPS of at least $0.32, excluding non-recurring items, vs. $0.29 First Call consensus. Co reaffirms guidance for FY08 (Dec), sees EPS of at least $1.20 vs. $1.25 consensus. Co said, "Our DSD Dairy business is performing particularly well in the second quarter... Our team's efforts to reduce the cost of production and distribution, combined with effective management of the pass through of increased dairy commodity and energy costs through this inflationary period, is resulting in a strong overall performance in the second quarter."
7:37AM Williams Cos raised FY08 and FY09 EPS guidance above consensus (WMB) 39.13 : Co raises FY08 EPS guidance to $2.30-2.80 vs $2.21 consensus, up from prior $1.70-2.10; raises FY09 EPS to $2.05-2.90 vs $2.48 consensus, up from $1.80-2.30. Co says, "The increase in earnings guidance primarily reflects the co's more favorable outlook for commodity prices during 2008 and 2009. The more favorable prices are expected to benefit the company's exploration & production and midstream businesses. A chart attached to the end of this press release includes the guidance updates for the business segments and WMB in total. For 2008 the company now expects unhedged natural gas prices ranging from $9.00-10.50 per Mcfe (Henry Hub) and crude oil pricing in the range of $100-120 per barrel (West Texas Intermediate). For 2009, the co now expects unhedged natural gas prices ranging from $8.00-10.50 per Mcfe (Henry Hub) and crude oil pricing in the range of $80-120 per barrel (WTI). WMB also is updating its capital expenditure guidance for 2008 and 2009. The new range for 2008 is $3.03-3.38 bln, up from the previous range of $2.6-2.95 bln. For 2009, the new range is $2.63-3.03 bln, compared with the previous range of $2.3-2.7 bln.
7:31AM EMCOR Group raises guidance for FY08 (EME) 27.75 : Co raises guidance for FY08 (Dec), to EPS of $2.22-2.42 from $2.08-2.28 vs. $2.31 First Call consensus; raises FY08 (Dec) revenue guidance to $6.8-7.0 bln from $6.3-6.5 bln vs. $6.76 bln consensus. The increased guidance reflects continuing indications of strong demand for the Company's services in many of its markets.
7:02AM Rockwell Automation guides Q3 below consensus; will not meet previous FY08 guidance (ROK) 52.19 : Co issues downside guidance for Q3 (Jun), sees EPS of $0.93-1.00 vs. $1.13 First Call consensus. Given the expected third quarter earnings, and what appear to be less favorable market conditions in the U.S. and Europe, the Company no longer believes that full year EPS will fall within the previous annual guidance range of $4.25-4.45 (consensus $4.29).
6:32AM General Mills reports EPS in-line, beats on revs; guides FY09 EPS below consensus (GIS) 62.40 : Reports Q4 (May) earnings of $0.73 per share, excluding non-recurring items, in-line with the First Call consensus of $0.73; revenues rose 13.4% year/year to $3.47 bln vs the $3.37 bln consensus. Co issues downside guidance for FY09, sees EPS of $3.78-3.83 vs. $3.84 consensus.
4:28PM Autodesk reaffirms Q2 guidance; narrows Q3 EPS, lowers Q3 revs; sees FY09 EPS in-line, revs above consensus (ADSK) 36.35 +0.61 : Co reaffirms Q2 EPS of $0.50-0.52 vs $0.53 consensus, sees revs of $600-610 mln vs $605.4 mln consensus; narrows Q3 EPS of $0.53-0.55 vs $0.55 consensus, from $0.53-0.56, lowers revs to $615-630 mln vs $611.8 mln consensus, down from $605-620 mln. Co sees FY09 EPS of $2.20-2.30 vs $2.25 consensus, revs of $2.48-2.53 bln vs $2.47 bln consensus. Co updated its financial guidance to reflect the anticipated effects of the acquisition of Moldflow. ADSK acquired Moldflow for $22 per share, or ~$297 million, less the amount in Moldflow's cash balance and proceeds from options exercises.
4:28PM CKE Restaurants beats by $0.04, reports revs in-line (CKR) 12.30 +0.54 : Reports Q1 (Apr) earnings of $0.31 per share, $0.04 better than the First Call consensus of $0.27; revenues fell 3.2% year/year to $466.2 mln vs the $465.5 mln consensus. Blended company-operated same-store sales for the first fiscal quarter of fiscal 2009 increased 1.8%. Same-store sales increased 3.9% at Carl's Jr. and decreased 0.6% at Hardee's company-operated restaurants.
4:20PM Nike beats by $0.02, beats on revs (NKE) 65.97 +0.00 : Reports Q4 (May) earnings of $0.98 per share, $0.02 better than the First Call consensus of $0.96; revenues rose 16.1% year/year to $5.09 bln vs the $4.95 bln consensus. "The Company reported worldwide futures orders for athletic footwear and apparel, scheduled for delivery from June 2008 through November 2008, totaling $8.8 bln, 11 percent higher than such orders reported for the same period last year. Changes in currency exchange rates increased reported orders growth by 3 percentage points."
4:17PM Bed Bath & Beyond beats by $0.03, beats on revs (BBBY) 28.57 +0.27 : Reports Q1 (May) earnings of $0.30 per share, $0.03 better than the First Call consensus of $0.27; revenues rose 6.1% year/year to $1.65 bln vs the $1.62 bln consensus. Comparable store sales for the fiscal first quarter of 2008 increased by approximately 0.8%, compared with an increase of approximately 1.6% in last year's fiscal first quarter.
4:10PM Research In Motion misses by $0.01, misses on revs; guides Q2 EPS below consensus, revs above consensus (RIMM) 142.33 +1.85 : Reports Q1 (May) earnings of $0.84 per share, $0.01 worse than the First Call consensus of $0.85; revenues rose 19.1% year/year to $2.24 bln vs the $2.27 bln consensus. Co issues mixed guidance for Q2, sees EPS of $0.84-0.89 vs. $0.90 consensus; sees Q2 revs of $2.55-2.65 bln vs. $2.44 bln consensus. RIMM Q1 (May) net Blackberry subscriber additions 2.3 mln vs. guidance of 2.20 mln. RIMM sees Q2 (Aug) net subs of 2.6 mln... The revenue breakdown for the quarter was approximately 82% for devices, 13% for service, 3% for software and 2% for other revenue. During the quarter, RIM shipped approximately 5.4 mln devices. "We are pleased to report another record quarter with revenue increasing 107% as the popularity of the BlackBerry platform continued to spread in business, government and consumer segments. Our comprehensive technology and business strategies continue to reap strong results in the market and RIMM is well positioned to build on its momentum throughout the remainder of fiscal 2009... As we prepare this summer to ship our 40 millionth BlackBerry smartphone, we continue to steadily scale our business and partnerships to support the opportunities ahead in this thriving sector."
4:07PM Herman Miller beats by $0.14, beats on revs; guides Q1 EPS in-line, revs in-line (MLHR) 23.99 +0.18 : Reports Q4 (May) earnings of $0.71 per share, $0.14 better than the First Call consensus of $0.57; revenues rose 7.0% year/year to $519.1 mln vs the $488.4 mln consensus. Co issues in-line guidance for Q1, sees EPS of $0.49-0.56 vs. $0.55 consensus; sees Q1 revs of $470-495 mln vs. $491.05 mln consensus. Co said, "Changing economic conditions required us to closely examine how and where we invest our resources to optimize our growth and minimize the impact of ongoing challenges in the U.S. market. As a result, we are well positioned for what we expect will continue to be a difficult near-term environment."
4:05PM Oracle beats by $0.03, beats on revs (ORCL) 22.47 +0.24 : Reports Q4 (May) earnings of $0.47 per share, excluding non-recurring items, $0.03 better than the First Call consensus of $0.44; revenues rose 23.8% year/year to $7.28 bln vs the $6.85 bln consensus. "Non-GAAP operating margins were up 200 basis points in FY08 to a record 43.0%. Non-GAAP earnings per share were up 29% for the year and non-GAAP EPS has tripled over the last five years. Oracle has delivered solid results year-after-year." "Oracle's application new software license revenues grew 38% in FY08, while SAP's new software license revenues grew only 13% in their most recent fiscal year. This is the third consecutive year we've taken applications market share from SAP." "Four years ago we publicly announced a five year plan to deliver non-GAAP earnings per share at a compound annual growth rate of 20%. During the past four years we exceeded our plan and delivered a non-GAAP EPS CAGR of over 26%."
4:03PM Red Hat reports EPS in-line, beats on revs (RHT) 22.21 +0.72 : Reports Q1 (May) earnings of $0.18 per share, excluding non-recurring items, in-line with the First Call consensus of $0.18; revenues rose 52.0% year/year to $156.6 mln vs the $153 mln consensus.
11:23AM Industrial Services sees Q2 EPS of $0.42-0.44 vs $0.22 a year ago (IDSA) 15.99 +1.66 : Co provides financial guidance for the second quarter and first six months of 2008. Based on actual results from the first two months of the period and on projected trends, the company said Q2 2008 earnings are expected to be in the range of $0.42-0.44 per share vs $0.22 a year ago. For the first six months of 2008, co estimates EPS of $0.72-0.74 vs $0.44 a year ago. "Global demand for commodities continues to be strong, as does pricing for ferrous and non-ferrous materials. We are well positioned to benefit from these demand and pricing trends."
9:13AM Airmedia raises Q2 rev guidance above consensus (AMCN) 13.47 : Co issues upside guidance for Q2 (Jun), raises Q2 (Jun) revenue guidance to $29-30 mln from $26-28 mln vs. $26.86 mln First Call consensus. Co said that despite the impact of the Sichuan earthquake and the slowdown of air passenger volume growth, they are able to raise guidance due to stronger than expected results of all products lines, especially the digital frame business
8:10AM Monsanto beats by $0.11, misses on revs; guides FY08 EPS above consensus (MON) 135.79 : Reports Q3 (May) earnings of $1.45 per share, $0.11 better than the First Call consensus of $1.34; revenues rose 26.2% year/year to $3.59 bln vs the $3.71 bln consensus. Co raised guidance for FY08, sees EPS of ~$3.40 vs. $3.39 consensus, up from $3.15-3.25. Co now expects that its free cash flow for fiscal year 2008 will be $550 million. The co expects net cash provided by operating activities to be in the range of $2.6 bln. As part of today's announcement, MON also published a preliminary report on the co's biotech trait acreage for fiscal year 2008 on its website.
8:06AM Dean Foods guides Q2 EPS above consensus; reaffirms FY08 guidance (DF) 18.39 : Co issues upside guidance for Q2 (Jun), sees EPS of at least $0.32, excluding non-recurring items, vs. $0.29 First Call consensus. Co reaffirms guidance for FY08 (Dec), sees EPS of at least $1.20 vs. $1.25 consensus. Co said, "Our DSD Dairy business is performing particularly well in the second quarter... Our team's efforts to reduce the cost of production and distribution, combined with effective management of the pass through of increased dairy commodity and energy costs through this inflationary period, is resulting in a strong overall performance in the second quarter."
7:37AM Williams Cos raised FY08 and FY09 EPS guidance above consensus (WMB) 39.13 : Co raises FY08 EPS guidance to $2.30-2.80 vs $2.21 consensus, up from prior $1.70-2.10; raises FY09 EPS to $2.05-2.90 vs $2.48 consensus, up from $1.80-2.30. Co says, "The increase in earnings guidance primarily reflects the co's more favorable outlook for commodity prices during 2008 and 2009. The more favorable prices are expected to benefit the company's exploration & production and midstream businesses. A chart attached to the end of this press release includes the guidance updates for the business segments and WMB in total. For 2008 the company now expects unhedged natural gas prices ranging from $9.00-10.50 per Mcfe (Henry Hub) and crude oil pricing in the range of $100-120 per barrel (West Texas Intermediate). For 2009, the co now expects unhedged natural gas prices ranging from $8.00-10.50 per Mcfe (Henry Hub) and crude oil pricing in the range of $80-120 per barrel (WTI). WMB also is updating its capital expenditure guidance for 2008 and 2009. The new range for 2008 is $3.03-3.38 bln, up from the previous range of $2.6-2.95 bln. For 2009, the new range is $2.63-3.03 bln, compared with the previous range of $2.3-2.7 bln.
7:31AM EMCOR Group raises guidance for FY08 (EME) 27.75 : Co raises guidance for FY08 (Dec), to EPS of $2.22-2.42 from $2.08-2.28 vs. $2.31 First Call consensus; raises FY08 (Dec) revenue guidance to $6.8-7.0 bln from $6.3-6.5 bln vs. $6.76 bln consensus. The increased guidance reflects continuing indications of strong demand for the Company's services in many of its markets.
7:02AM Rockwell Automation guides Q3 below consensus; will not meet previous FY08 guidance (ROK) 52.19 : Co issues downside guidance for Q3 (Jun), sees EPS of $0.93-1.00 vs. $1.13 First Call consensus. Given the expected third quarter earnings, and what appear to be less favorable market conditions in the U.S. and Europe, the Company no longer believes that full year EPS will fall within the previous annual guidance range of $4.25-4.45 (consensus $4.29).
6:32AM General Mills reports EPS in-line, beats on revs; guides FY09 EPS below consensus (GIS) 62.40 : Reports Q4 (May) earnings of $0.73 per share, excluding non-recurring items, in-line with the First Call consensus of $0.73; revenues rose 13.4% year/year to $3.47 bln vs the $3.37 bln consensus. Co issues downside guidance for FY09, sees EPS of $3.78-3.83 vs. $3.84 consensus.
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