Here are some of the most important earnings that were announced this morning:
Molson Coors Brewing Company (NYSE:TAP) was down in morning trading this morning after it posted earnings of 44 cents per share this morning. That results puts it in line with last year’s 44 cents per share but total income was less, down to $79.4 million from 86.2 million. The company had sales of $691.4 million below expectations of $703.8 million though revenue is slightly up from last year’s results. The company has recently incorporated the European Brewer StarBev into its business hoping to increase its sales in the European market. The company has up until now maintained a strong presence in North America but has struggled when faced with rivals in international markets.
DIRECTV (NASDAQ:DTV), the satellite television provider, announced earnings of $1.07 per share an increase over the same quarter last year’s 85 cents per share. Revenue hit $7.05 billion, up from the year earlier figure of $6.32 billion. The firm said its growth in Latin America contributed extensively to its first quarter results. That made up for a slow don in the numbers of US consumers joining the company. The company’s stock was down on the results to 47.02 a drop of almost 2% at time of writing.
OfficeMax Incorporated (NYSE:OMX) was up an incredible 10.91% at time of writing. The company posted revenues of $1,872.9 million compared with $1,863 million in the first quarter last year. Earnings per share was down a great deal from the first quarter of last year. The company posted net earnings of $4.9 million or 6 cents per share compared with last year’s $11.4 million, 13 cents per share. However without the adjustments the earnings per share were 23 cents. Analysts had expected the company to earn 16 cents per share on revenue of $1.87 billion. the company continues to grow and after a rocky few months it looks like its share price is ready to follow.
The Wendy’s Company (NYSE:WEN) in the midst of a transformation posted earnings of $12.4 million for the first quarter of the year beating the loss it posted in the same period last year but not satisfying Wall Street. Last year the company announced a loss of $1.41 million for the three months. The company has downgraded its own outlook for the rest of 2012. A new strategy is being employed in an attempt to place the company at the high end of the fast food market in order to secure its future. In the middle of such a move it is difficult to measure success but Wall Street was not happy this morning offering a more than 5% drop to the stock.
