Earnings Preview: Weyerhaeuser, Chevron, National-Oilwell Varco

Following a week of feverish earnings expectations and reporting, Friday will see the last of them for the week. The following are brief earnings previews of a handful of companies to look forward to as they report before the bell to close out the week’s trading.

Earnings Preview: Weyerhaeuser, Chevron, National-Oilwell Varco

Weyerhaeuser Company (NYSE:WY):

Weyerhaeuser Company (NYSE:WY), a forest products company, grows and harvests trees, builds homes, and manufactures forest products worldwide. It grows and harvests trees for use as lumber, other wood and building products, as well as pulp and paper. Recently analysts have had conflicting views on Weyerhaeuser’s earnings prospects. They’ve cut their estimates for the just-ended quarter by a penny per share, but they’ve raised their full-year 2013 consensus earnings-per-share call by nearly almost ten cents. The stock has remained largely unchanged in 2013, rising about 2 percent since mid-January.

The consensus estimate is 22 cents per share, up from earnings of 2 cents per share a year ago. A rise of 100o percent. Revenue is projected to be $1.87 billion for the quarter, 25.2 percent above the year-earlier total of $1.49 billion. For the year, revenue is expected to reach $8.09 billion and fiscal year earnings are expected to come in at $1.08 per share.

Chevron Corporation (NYSE:CVX):

Chevron Corporation (NYSE:CVX), through its subsidiaries, engages in petroleum, chemicals, mining, power generation and energy operations worldwide. The company operates in two segments, Upstream and Downstream as it pollutes both. The second largest U.S. oil and gas company has already moved its dividend from $0.90 to $1.00 this week.

Analysts are projecting Chevron to come in with earnings of $3.08 per share, down 5.8 percent from a year ago when it reported earnings of $3.27 per share. The consensus estimate has increased by nearly ten percent, from $3.01, over the past three months. For the fiscal year 2013 , analysts are calling for earnings of $12.36 per share. Revenue is expected to be 11.6 percent above the year-earlier total of $60.7 billion at $67.73 billion for the quarter. The increase in profit in the fourth quarter of the last fiscal year ended the run of two consecutive quarters of year-over-year profit decreases.

Chevron has enjoyed a recent upswing in analysts’ “buy” ratings.

The Goodyear Tire & Rubber Company (NYSE:GT):

The Goodyear Tire & Rubber Company (NYSE:GT) develops, manufactures, distributes, and sells tires and related products and services worldwide. The company offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, farm implements, earth moving and mining equipment, industrial equipment, and various other applications. It sells tires under a number of different brands and labels when not having its stock devalued, being sued by the French, and being named a preferred supplier of The Boeing Company (NYSE:BA).

The consensus estimate has moved down from $0.66 to $0.34 over the past three months. Analysts are looking for earnings of $2.04 per share for the fiscal year. After being $5.53 billion a year ago, analysts project revenue to drop 7.8 percent year-over-year to $5.1 billion for the quarter. For the year, revenue is expected to come in at  at $20.87 billion. Tomorrow’s estimates if correct, will see Goodyear declining in revenue for a third consecutive year-over-year quarter.

National-Oilwell Varco, Inc. (NYSE:NOV):

National-Oilwell Varco, Inc. (NYSE:NOV) is a key provider of vital materials for the energy industry, with products ranging from drilling pipe to full rigs and derricks. However, with lowered energy prices production has slowed, and the company is beginning to feel the pressure leading up to Friday’s earnings report.

Analysts are expecting National-Oilwell to bring earnings of $1.39 per share, 3.5 percent less than a year ago when it reported earnings of $1.44 per share.

The consensus estimate has fallen from $1.51 over the past three months. For the fiscal year, analysts are expecting earnings of $6.08 per share. Revenue is projected to be $5.38 billion for the quarter, 25 percent above the year-earlier total of $4.3 billion. For the year, revenue is expected to arrive at $22.82 billion.

In each of the last four quarters, the company has seen double-digit year-over-year revenue growth with an average gain of over 36 percent.

National-Oilwell Varco, Inc. (NYSE:NOV) is looking to buck overall trends in the energy industry.



About the Author

Brendan Byrne
While studying economics, Brendan found himself comfortably falling down the rabbit hole of restaurant work, ultimately opening a consulting business and working as a private wine buyer. On a whim, he moved to China, and in his first week following a triumphant pub quiz victory, he found himself bleeding on the floor based on his arrogance. The same man who put him there offered him a job lecturing for the University of Wales in various sister universities throughout the Middle Kingdom. While primarily lecturing in descriptive and comparative statistics, Brendan simultaneously earned an Msc in Banking and International Finance from the University of Wales-Bangor. He's presently doing something he hates, respecting French people. Well, two, his wife and her mother in the lovely town of Antigua, Guatemala. To contact Brendan or give him an exclusive, please contact him at theflask@gmail.com