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Earnings Analysis: 
Chevron Net Plunges 71%; ITT Net Falls
Author: Trupti Mehta
123jump.com
Last Update: 10:52 AM ET July 31 2009


Chevron Corporation second quarter revenues fell 51% to $40 billion and net income fell 71% to $1.75 billion or 87 cents a share. Dominion Resources Inc second quarter revenues rose 2.9% to $3.5 billion and net income rose 52.3% to $454 million or 76 cents a share.

 
[R]10:00AM New York – Chevron Corporation revenue fell 51% and net income fell 71%. Dominion Resources Inc revenue rose 2.9% and net income rose 52.3%.[/R]

Amerigroup Corporation, the health insurer said second quarter revenues rose 15.2% to $1.29 billion from $1.12 billion a year ago. Net income in the quarter was $49.6 million or 94 cents per diluted share compared to net loss of $164 million or $3.10 per share a year ago.

Amerigroup Corporation (AGP: chart) in the last one year traded as high as $31.70 in May 2009 and as low as $17.82 in October 2008. Based on the yesterday’s closing price of $28.67 the company has market cap of $1.52 billion.

AutoNation, Inc, the nation''s largest auto dealership chain said second quarter revenues fell 28.7% to $2.61 billion from $3.66 billion a year ago. Net income in the quarter fell 29% to $36.7 million or 21 cents per diluted share compared to net income of $51.8 million or 29 cents per share a year ago.

AutoNation, Inc (AN: chart) in the last one year traded as high as $20.01 in July 2009 and as low as $4.21 in October 2008. Based on the yesterday’s closing price of $20.63 the company has market cap of $3.65 billion.

Brush Engineered Materials Inc, a manufacturer of engineered materials said second quarter revenues fell 29% to $174.1 million from $246.6 million a year ago. Net loss in the quarter was $0.8 million or 4 cents per diluted share compared to net income of $7.2 million or 35 cents per share a year ago.

Brush Engineered Materials Inc (BW: chart) in the last one year traded as high as $31.10 in August 2008 and as low as $7.74 in November 2008. Based on the yesterday’s closing price of $18.83 the company has market cap of $379.79 million.

Chevron Corporation, an oil company said second quarter revenues fell 51% to $40 billion from $81 billion a year ago. Net income in the quarter fell 71% to $1.75 billion or 87 cents per diluted share compared to net income of $5.98 billion or $2.90 per share a year ago.

Chevron Corporation (CVX: chart) in the last one year traded as high as $88.52 in August 2008 and as low as $56.46 in March 2009. Based on the yesterday’s closing price of $67.70 the company has market cap of $135.72 billion.

Constellation Energy Group Inc, an energy company said second quarter revenues fell 19% to $3.86 billion from $4.76 billion a year ago. Net income in the quarter fell 84% to $28.3 million or 4 cents per diluted share compared to net income of $175 million or 95 cents per share a year ago.

Constellation Energy Group Inc (CEG: chart) in the last one year traded as high as $83.16 in August 2008 and as low as $16.59 in March 2009. Based on the yesterday’s closing price of $28.57 the company has market cap of $5.93 billion.

Dominion Resources Inc, the producers and transporters of energy said second quarter revenues rose 2.9% to $3.5 billion from $3.4 billion a year ago. Net income in the quarter rose 52.3% to $454 million or 76 cents per diluted share compared to net income of $298 million or 51 cents per share a year ago.

Dominion Resources Inc (D: chart) in the last one year traded as high as $44.37 in August 2008 and as low as $27.29 in March 2009. Based on the yesterday’s closing price of $34.50 the company has market cap of $20.34 billion.

ITT Corporation, the defense contractor said second quarter revenues fell 9.2% to $2.78 billion from $3.06 billion a year ago. Net income in the quarter fell 9% to $201.4 million or $1.10 per diluted share compared to net income of $221 million or $1.19 per share a year ago.

ITT Corporation (ITT: chart) in the last one year traded as high as $67.98 in August 2008 and as low as $32.25 in March 2009. Based on the yesterday’s closing price of $51.37 the company has market cap of $9.31 billion.

M.D.C. Holdings, Inc, the homebuilder and mortgage company said second quarter revenues fell 52% to $195.3 million from $403.4 million a year ago. Net loss in the quarter was $29.6 million or 64 cents per diluted share compared to net loss of $100.7 million or $2.18 per share a year ago.

M.D.C. Holdings, Inc (MDC: chart) in the last one year traded as high as $43.99 in September 2008 and as low as $22.74 in November 2008. Based on the yesterday’s closing price of $34.78 the company has market cap of $1.64 billion.

Parker Drilling Company, a provider of contract drilling services said second quarter revenues rose 2% to $221.8 million from $216.7 million a year ago. Net income in the quarter fell 80% to $4.4 million or 4 cents per diluted share compared to net income of $21.9 million or 19 cents per share a year ago.

Parker Drilling Company (PKD: chart) in the last one year traded as high as $9.48 in August 2008 and as low as $1.28 in February 2009. Based on the yesterday’s closing price of $4.67 the company has market cap of $542.01 million.

Sempra Energy, an energy services company said second quarter revenues fell 32% to $1.7 billion from $2.5 billion a year ago. Net income in the quarter fell 19% to $198 million or 80 cents per diluted share compared to net income of $244 million or 98 cents per share a year ago.
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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites.
Market data: BATS Exchange. Inc.

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