Several large firms announced their earnings for the first three months of the year this morning. Below is a few select ones:
What does value investing really mean? Q1 2021 hedge fund letters, conferences and more Some investors might argue value investing means buying stocks trading at a discount to net asset value or book value. This is the sort of value investing Benjamin Graham pioneered in the early 1920s and 1930s. Other investors might argue value Read More
International Paper Co. (NYSE:IP) posted earnings of 67 cents per share for the opening quarter on revenue of $6.67 billion. analysts had expected the company to post 61 cents per share earnings on the higher revenue of $6.79 billion. The firm is performing well in a year difficult for many. Revenue is falling across the board as European recovery struggles and the United States has been suffering as a result. International Paper has been beating analysts estimates on its earnings performance for several quarters. The firm’s management is happy with its solid performance.
KKR & Co. L.P. (NYSE:KKR) managed to beat its year on year performance with economic earnings per share 99 cents compared with last year’s 96 cents per share. Analysts had only predicted earnings of 74 cents for the company as financials have not been performing entirely well this season. KKR managed to make good investment choices and the increase in the assets they held more than made up for the decrease in investment fees earned. Investment firms have been seeing fees falling in this quarter as investors become increasingly wary. KKR is doing well despite the tougher climate, surely giving it an advantage going ahead.
Merck & Co. Inc. (NYSE:MRK), a component of the S&P 500, beat its figures from 2011 posting earnings of 56 cents per share compared with Q1 2011’s results of 34 cents per share. The firm’s revenue in the first three months were $11.73 billion compared to last year’s $1.04 billion. The firm’s performance in the year slightly beat analysts expectations. Merck’s expectations for the next quarter are even better. The pharmaceuticals giant seems confident in its performance going forward. The strategic goals in each of its businesses are being met according to management.
Procter & Gamble Company (NYSE:PG) increased its revenues by 2% to $20.19 billion, slightly under what analysts had been looking for but still a solid result for the company. Analysts were looking for revenues of $20.3 billion for the company’s third quarter. The firm’s earnings were down to 82 cents per share compared to last year’s 96 cents. analysts hoped the company would earn 93 cents per share. The firm’s earnings have been falling for several quarters running now and pointed to poor performance in the next quarter which will be Procter and Gamble’s fourth quarter of 2012. The firm’s earnings do not compare well with competitors such as Johnson and Johnson.