Earnings: Constellation Energy, Dresser-Rand
Apr 30, 4:45 PM EDT |
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| Constellation Energy Group reported earnings of 81 cents per share, down from the $1.07 per share a year ago, on revenue of $4.8 billion. |
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| Constellation reported a 6% drop in revenue from $5.21 billion in the first quarter 2007. The largest declines were in the merchant energy business, where profits dropped to 40 cents per share from 67 cents per share in 2007. Dresser-Rand Group, global supplier of rotating equipment solutions, reported that net sales for the quarter were $363.8 million, up 16% from $314.4 last year. Net income was $27.2 million or $0.32 diluted earnings per share compared with $15.4 million or $0.38 per share. |
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Chicago Bridge & Iron Profit Disappoints
Apr 30, 3:59 PM EDT |
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| First-quarter profit rose 15% from a year ago but missed analysts’ expectations, as rising material and commodity expenses offset revenue growth. |
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| Chicago Bridge & Iron Co., engineering and construction company, said net income rose to $42.2 million, or 43 cents per share, from $36.6 million, or 38 cents per share, a year earlier. Revenue climbed 68% to $1.4 billion from $857.3 million, meeting estimates. New awards for the latest three months totaled $943 million, bringing the company’s total backlog to $7.3 billion at the end of March. |
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Kraft Foods Profit Falls 13%
Apr 30, 11:57 AM EDT |
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| Net income decline was due to the rising wheat, dairy and energy costs, while price increases and new marketing programs drove sales up. |
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| Kraft Foods earned $608 million, or 40 cents a share in the latest quarter, down from $702 million, or 43 cents a share, in the year-ago comparable period. Excluding special items, earnings remained unchanged at 44 cents a share. Sales rose 20.8% to $10.4 billion, helped by price increases and the weak U.S. dollar. Organic revenue for 2008, excluding acquisitions, is expected to be 5% higher than a year ago, up from the company’s earlier forecast of 4% growth. |
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Mueller Water Earnings Plunge
Apr 30, 1:02 PM EDT |
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| Mueller Water earnings plunged on 10% decline in revenue. Weak housing market and rising materials cost impacted earnings. |
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| Mueller Water reported second quarter revenue fell 10% to $421 million from $459.7 million and earnings plunged to $5.7 million from $17.9 million. Earnings per share declined to 5 cents per share from 16 cents. Weak hosuing market, rising raw materials cost and strong Canadian currency affected quarterly earnings. |
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Jones Lang Plunges 11%, CB Richard Up 3%
Apr 30, 1:45 PM EDT |
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| CB Richard earnings rise on strong growth in Europe and Middle East but weakness in the earnings in the region hurt Jones Lang LaSalle. |
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| Jones Lang LaSalle first quarter revenue rose 15% to $564 million and earnings plunged 90% to $2.8 million or earnings per share declined to 9 cents from 81 cents in the quarter a year ago. Weak transaction revenue growth in Europe and a decline in capital markets activites hurt the earnings. Separately, CB Richard Ellis reported flat revenue of $1.23 billion and earnings of $20.45 million or 10 cents per share compared to $12 million or 5 cents per share in the quarter a year ago. |
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General Cable Falls on Outlook
Apr 30, 11:58 AM EDT |
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| General Cable sales and earnings rise on recent acqusition. Weakness in U.S. and Spanish housing market affected the revenue. |
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| General Cable reported first quarter revenue rise of 55% to $1.57 billion and earnings surge of 74% to $65.8 million and earnings per share increased to $1.21 from 71 cents. The company guided second quarter revenue between $1.70 and $1.80 billion and earnings per share between $1.20 and $1.30 compared to $1.07 in the second quarter of 2007. |
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On Earnings PG, GM and Express Script Rise
Apr 30, 11:07 AM EDT |
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| Express Script fist quarter revenue rose to $4.6 billion and net income increased to $177 million or 69 cents per share. |
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| General Motors overall revenue edged lower 0.7% but sales in China, India and Brazil surged. GMAC continues to drag the overall performance of the company with a charge of $1.45 billion in the quarter. Net loss in the quarter rose to $5.74 per share of $3.25 billion from a loss of $42 million or 7 cents per share. Consumer products company Procter & Gamble sales rose 9% to $20.52 billion and earnings increased 8% to $2.71 billion and earnings per share rose 11% to 82 cents. |
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U.S. Steel, Valero and Heidrick Fall
Apr 29, 4:56 PM EDT |
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| Group One Automotive revenue fell 4% on 7% decline in unit sales. K-Swiss reported first quarter income of 20 cents per share. |
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| Valero, U.S. Steel and Heidrick & Struggles declined after they reported earnings. Valero reported earnings of 48 cents per share. U.S. Steel fell after it reported earnings of $1.98 compared to $2.30 per share on revenue of $5.2 billion. Heidrick & Struggles reported revenue increase of 7% to $153 million and earnings decline of 30% to $7.1 million. Martha Stewart reported a loss on 2% rise in sales. |
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Countrywide Posts a Loss, Deposits Grow
Apr 29, 4:41 PM EDT |
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| Countrywide Financial, the battered lender reported first quarter loss on higher credit market related losses. |
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| Countrywide reported first quarter loss of $893 million or $1.60 per share compared to net income of $434 million or 72 cents per share. The quarter also saw steady gains from the sale of mortgages, origination of loan volume and rise in deposit base at the lenders bank branches. The accounting rule change helped the lender to report higher gains in loan sales. Countrywide provisioned $3 billion for credit market related charges. |
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MasterCard Surges on Earnings
Apr 29, 10:40 AM EDT |
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| MasterCard, second largest payment processing company reported earnings rise of 108% and revenue gain on 29%. |
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| MasterCard reported first quarter revenue rise of 29% to $1.18 billion and earnings surged to $446 million or $3.38 per share. Excluding one-time gains earnings rose to $398 million or $3.01 per share. Gross worldwide dollar volume processed by the card processor rose 15% to $453 billion and in the U.S. 9% to $259 billion. Earnings from Europe, Asia and Latin America contributed to the total earnings. |
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