It is earnings season again! Four Dow components plus many other companies are reporting earnings today. Some companies are posting before the market open, others will be reporting after the market close. We will be post-analysis on some of the more important names. Below is a brief summary for the key companies reporting today including, Goldman Sachs Group, Inc. (NYSE:GS), CSX Corporation (NYSE:CSX), International Business Machines Corp. (NYSE:IBM), Intel Corporation (NASDAQ:INTC), State Street Corporation (NYSE:STT), The Coca-Cola Company (NYSE:KO), UnitedHealth Group Inc. (NYSE:UNH), Johnson & Johnson (NYSE:JNJ), PNC Financial Services (NYSE:PNC), Forest Laboratories, Inc. (NYSE:FRX), and Apollo Group Inc (NASDAQ:APOL).
- Apollo Group Inc (NASDAQ:APOL), bellwether for the for-profit education industry. For the six months ended 28 February 2011, Apollo Group Inc (NASDAQ:APOL)’s revenues increased 2% to $2.38B. Net income from continuing operations decreased 50% to $171.4M. Revenues reflect a growth in degreed Enrollment & selective tuition price in the University of Phoenix and higher income from Apollo Global segment. Net income was partially offset by higher marketing expenses and the presence of restructuring charges. Analysts expect Apollo Group Inc (NASDAQ:APOL) to report EPS of $0.49 for Q3, and $3.58 for FY2012.
- CSX Corporation (NYSE:CSX) is a bellwether for freight and coal. For the 26 weeks ended 29 June 2012, CSX Corporation (NYSE:CSX) revenues increased 3% to $5.98B. Net income increased 7% to $961M. Revenues reflect an increase in demand for the Company’s products and services due to favorable market conditions. Net income benefited from Labor and Fringe decrease of 1% to $1.51B (expense), Miscellaneous decrease of 60% to $2M (expense), Interest Income increase of 50% to $3M (income). Analysts expect CSX Corporation (NYSE:CSX) to report EPS of $0.43 for Q3, and $1.79 for Fiscal year 2012.
- Forest Laboratories, Inc. (NYSE:FRX) is a bellwether for the pharmaceutical industry. For the three months ended 30 June 2012, Forest Laboratories, Inc. (NYSE:FRX) revenues decreased 29% to $821.1M. Net income decreased 79% to $55.3M. Revenues reflect Net Sales decrease of 32% to $751.8M, Interest income and other decrease of 37% to $3.5M. Net income also reflects Research and development increase of less than 1% to $195.2M (expense). Basic Earnings per Share excluding Extraordinary Items decreased from $0.90 to $0.21. Analysts expect Forest Laboratories, Inc. (NYSE:FRX) to report a loss of $0.01 for Q3 and EPS of $0.63 for FY2012.
- Goldman Sachs Group, Inc. (NYSE:GS) is one of the most important financial companies. Three important banks already reported earnings, JPM, WFC and MS. For the six months ended 30 June 2012, Goldman Sachs Group, Inc. (NYSE:GS) revenues decreased 12% to $20.39B. Net income applicable to common stockholders increased 53% to $3B. Revenues reflect Trading and Principal Invesmtents segment decrease of 44% to $2.11B, United States segment decrease of 17% to $9.69B, Net Interest Margin, Total -% decrease of 27% to 0.5%, Net Interest Spread, Total -% decrease of 29% to 0.45%. Analysts expect Goldman Sachs Group, Inc. (NYSE:GS) to earn approximately $2.12 in Q3 and $11.63 in 2012.
- International Business Machines Corp. (NYSE:IBM) along with Intel Corporation (NASDAQ:INTC), will be the first big tech companies to report. Investors will be looking to see how the ‘older’ tech companies are performing in the ‘Apple era.’ For the six months ended 30 June 2012, International Business Machines Corp. (NYSE:IBM) revenues decreased 2% to $50.46B. Net income increased 6% to $6.95B. Revenues reflect Systems and Technology segment decrease of 8% to $8.01B, Global Business Services segment decrease of 3% to $9.3B, Europe/Middle East/Africa segment decrease of 6% to $15.45B, OEM segment decrease of 21% to $1.02B. Net income reflects Foreign Currency Transaction Losses decrease from $252M. Analysts are looking for International Business Machines Corp. (NYSE:IBM) to report earnings of 3.62 per share in Q3 and $15.14 for the year.
- Intel Corporation (NASDAQ:INTC) is the most important chip-maker and one of the largest tech companies. For the 26 weeks ended 30 June 2012, Intel Corporation (NASDAQ:INTC) revenues increased 2% to $26.41B. Net income decreased 9% to $5.57B. Revenues reflect Software and Services Group segment increase of 54% to $1.16B, Data Center Group segment increase of 7% to $5.26B, PC Client Group segment increase of 1% to $17.14B, Asia Pacific segment increase of 3% to $15.14B, Europe segment increase of 7% to $3.43B. Analysts expect Intel Corporation (NASDAQ:INTC) to report earnings of $0.49 per share for Q3, and $2.11 for FY 2012.
- Johnson & Johnson (NYSE:JNJ) will be the first large consumer goods/ pharmaceutical company to report earnings. For the six months ended 01 July 2012, Johnson & Johnson (NYSE:JNJ) revenues decreased less than 1% to $32.61B. Net income decreased 15% to $5.32B. Revenues reflect Pharmaceutical segment increase of 1% to $12.42B, Western Hemisphere Excluding U.S. segment increase of 16% to $3.44B, Asia/Pacific-Oceania/Africa segment increase of 4% to $6.23B, also reflect Consumer segment decrease of 3% to $7.21B. Analysts expect JJohnson & Johnson (NYSE:JNJ) to earn $1.21 per share in Q3 and $5.07 in FY 2012. Consensus estimates are for
- PNC Financial Services (NYSE:PNC) will be one of the first large diversified financial companies to report Q3 earnings. For the six months ended 30 June 2012, PNC Financial Services (NYSE:PNC) interest income increased 5% to $5.39B. Net interest income after loan loss provision increased 21% to $4.38B. Net income applicable to common stockholders decreased 25% to $1.29B. Net interest income after loan loss provision reflects Net Interest Margin, Total -% increase of 1% to 3.99%, Net Interest Spread, Total -% increase of 3% to 3.82%. Consensus estimates are for PNC Financial Services (NYSE:PNC) to report $1.59 in Q3, and earn $5.79 per share for fiscal 2013.
- State Street Corporation (NYSE:STT) is the first large asset manager to report third quarter earnings. For the six months ended 30 June 2012, State Street Corporation (NYSE:STT) interest income increased 7% to $1.55B. Net interest income after loan loss provision increased 13% to $1.3B. Net income applicable to common stockholders decreased 7% to $897M. Net interest income after loan loss provision reflects Other Investments increase of 13% to $811M, Deposits increase of 40% to $77M. Net income was offset by Trading Services decrease of 13% to $535M. Wall Street is looking for State Street Corporation (NYSE:STT) to report EPS of $0.96 in Q3 and $3.86 for FY 2012.
- The Coca-Cola Company (NYSE:KO) is the dominant player in the beverage industry, with a presence in almost every company in the world. For the six months ended 29 June 2012, The Coca-Cola Company (NYSE:KO) revenues increased 4% to $24.22B. Net income increased 3% to $4.84B. Revenues reflect North America segment increase of 5% to $10.71B, Bottling Investment segment increase of 6% to $4.56B, Pacific segment increase of 9% to $2.87B. Net income was partially offset by Europe segment income decrease of 6% to $1.59B. Dividend per share increased from $0.47 to $0.51. Wall Street expects The Coca-Cola Company (NYSE:KO) to earn $0.51 per share in Q3 and $2.00 in FY 2012.
- UnitedHealth Group Inc. (NYSE:UNH) is the first healthcare company to kick off Q3 earnings. For the six months ended 30 June 2012, UnitedHealth Group Inc. (NYSE:UNH) revenues increased 8% to $54.55B. Net income increased 4% to $2.73B. Revenues reflect UnitedHealth Care segment increase of 7% to $51.05B, OptumHealth segment increase of 25% to $3.96B. Net income was partially offset by Optun Rx segment income decrease of 30% to $173M, OptumHealth segment income decrease of 12% to $215M. Dividend per share increased from $0.29 to $0.38. Analysts are looking for UnitedHealth Group Inc. (NYSE:UNH) to report EPS of $1.32 in Q3 and $5.10 for FY 2012.
Disclosure: Long UNH, no other positions.
