The McGraw-Hill Companies First Quarter Earnings Call
May 08, 2:07 AM EDT |
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| Net income fell 44% to amid continued fallout from the stagnated structured-finance market. |
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| Revenue declined 6% to $1.22 billion from $1.3 billion, on a steep drop in structured finance revenue in Standard & Poor''''s Credit Market Services and lower school education sales. The credit crisis has led to more than $200 billion in write-downs over the last year. In the U.S., total new issue dollar volume declined 56%, with mortgage-backed securities off 94% and collateralized debt obligations falling 91%. McGraw-Hill forecast full-year earnings per share in the $2.65 to $2.75 range. |
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Dollar Financial Third Quarter Earnings Call
May 07, 3:14 PM EDT |
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| Continued execution of the multi-country, multi-product, and multi-channel growth strategy has minimized the current economic turbulence. |
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| The financial services firm’s revenue grew by 26.4% to $135.3 million resulting in net income increasing 18.3% to $13.8 million or 56 cents a share, up 17.9% from $11.7 million or 48 cents per share in the prior year. Dollar Financial has ample liquidity with no near term debt repayment obligation, which should allow it to continue to invest in future growth through the development of new products, additional de novo store openings, and the continued acquisition of well-managed store chains. |
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Exxon Mobil First Quarter Earnings Call
May 07, 5:52 AM EDT |
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| Higher crude oil and natural gas realizations due to record crude oil prices, were offset by lower margins, production volumes and higher costs. |
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| The oil and gas company reported net income of $10.9 billion or $2.03 a share, an increase of 17.5% from $9.28 billion or $1.62 a share in the prior year as EPS growth was driven by the strong earnings and the continuing benefits of the share repurchase program. Total revenues increased 34.1% to $116.9 billion from $87.2 billion in the prior year on high commodity prices. The firm distributed $10 billion to shareholders through dividends and share purchases. |
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AutoNation First Quarter Earnings Call
May 07, 5:24 AM EDT |
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| Profit was $50.7 million as the weak U.S. housing market continued to hurt demand in the company's critical California and Florida markets. |
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| Earnings from continuing operations slipped to 31 cents a share from 39 cents a share. Results were hurt by lower gross profit for each vehicle sold, partially offset by continued share repurchases. New vehicle sales in California, Florida, Nevada and Arizona declined 11%. The company expects to continue to see a challenging automotive retail market as long as the current economic difficulties persist. |
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Terex Corporation First Quarter Earnings Call
May 07, 4:51 AM EDT |
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| Earnings rose 46% to $163.3 million, helped by the global boom in commodities. |
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| Net sales rose 17.4% to $2.36 billion. The increase in sales was helped by acquisitions and by the effect of currency exchange rates. Income from operations was $256.3 million, an increase of $55.6 million from $200.7 million in the first quarter of 2007. Cash flow from operations was a use of $190.4 million, higher use of cash when compared with the prior year’s first quarter. Other income totaled $6.6 million,, primarily attributable to foreign currency translation gains. |
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CIGNA First Quarter Earnings Call
May 06, 9:28 AM EDT |
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| Results reflect the difficult environ for the Health Care segment, and the continued strength of the Disability and Life and International businesses. |
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| The medical insurance firm reported a 5% decline in adjusted income to $265 million or 94 cents a share, despite revenues rising 4.6% to $4.6 billion as the diverse mix of business provides unique opportunities to grow profitably. The firm now expects to have the capacity to resume share repurchase, or consider additional acquisitions during the second quarter of 2008. |
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Sun Microsystems Third Quarter Earnings Call
May 05, 8:29 PM EDT |
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| Sun Microsystems completed the acquisition of Innotek and MySQL, the world's most popular open source database. |
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| The leading information technology company reported revenue of $3.266 billion, down 0.5% from $3.283 billion in the prior year, on 2.8% decline in product revenue. During Q3, the GAAP net loss was $34 million versus net income of $67 million in the prior year quarter. The R&D and SG&A expenses decreased by $25 million over last year to $1.446 billion, due to continued savings from real estate consolidations, reduction of certain incentive payments and a variety of other factors. |
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Union Pacific First Quarter Earnings Call
May 05, 10:41 AM EDT |
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| The firm converted profitable revenue growth and reliable, efficient service into record earnings despite a soft economic environment. |
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| The transportation firm realised income of $443 million or $1.70 per share, a 21% increase from 2007 as a continued focus on price resulted in revenues of $4.29 billion, up 11% from $3.89 billion a year ago. Setting aside the impact of higher diesel fuel prices, Union Pacific expects pricing gains and productivity to continue in the second quarter and increase overall profitability. |
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Burlington Northern Santa Fe First Quarter Earnings Call
May 05, 6:31 AM EDT |
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| Net income rose 30%, as the commodities boom translated into increased volume and better prices on shipments of agricultural products and coal. |
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| While fuel costs rose, revenue from shipping agricultural products jumped 38% to $866 million, and revenue from transporting coal rose 26% to $954 million, driven by higher volume and also higher prices. Total freight revenue rose 17% to $4.14 billion, with gains in all segments. Overall volume by rail car fell 0.8%, weighed down by a big drop in volume of shipments of consumer products. Agricultural volume jumped 15%. |
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CVS Caremark First Quarter Earnings Call
May 05, 5:59 AM EDT |
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| Profit rose to $745 million, helped by the addition of Caremark's pharmacy benefits business. |
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| Net revenue rose to $21.3 billion from $13.2 billion a year ago. CVS bought Caremark in March 2007, allowing it to increase its prescription benefits business and mail-order operations. CVS got renewals for more than half of the current contracts that were coming due. Overall operating expenses as a percentage of sales improved due to the change in mix between retail and PBM. For Q2, the company forecast revenue growth of 3% to 5%. |
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