Earnings Preview: Pfizer Inc (PFE), Sprint Nextel Corp (S), Merck & Co Inc (MRK), Arch Coal Inc (ACI), Corning Incorporated (GLW), United States Steel Corporation (X), JetBlue Airways Corporation (JBLU)
The U.S. economy continues to chug along at a rate that, while modest, seems to be adequate to help support reasonably good corporate earnings, according to Jerry Webman, chief economist at Oppenheimer Funds.
With a little more than half of the companies in the S&P 500 Index having reported second-quarter earnings, 74 percent have beat or met profit expectations (well above the long-term average) and 57 percent have exceeded or matched revenue expectations (slightly below average), Webman noted.
Financial and health care companies’ earnings have surprised the most to the upside, while utilities have been the biggest disappointments. “In fact financials, despite much concern over heightened regulation, accounted for the lion’s share of second-quarter earnings growth,” Webman said in a note to clients.
We ran a screen and produced a list of 19 notable companies set to report their earnings on July 30. We've highlighted their expected reporting dates and times, along with analysts' earnings-per-share (fully reported) and revenue estimates from Reuters, as well as the stocks' year-to-date performances.
Tuesday Before Markets Open, or BMO:
3D Systems Corporation (NYSE: DDD) is a provider of three-dimensional content-to-print solutions including 3D printers, print materials and on-demand custom parts services for professionals and consumers. The company has a market cap of $4.34 billion. It's expected to report FY 2013 second-quarter EPS of 17 cents on revenue of $114.76 million, compared with a profit of 11 cents per share on revenue of $83.61 million in the year-ago period. 3D Systems Corp. is trading at around $46.74 per share. So far this year, the stock has gained 31.2 percent.
Aetna Inc. (NYSE: AET) is a diversified healthcare benefits company. The company has a market capitalization of $24.38 billion. It's expected to report FY 2013 second-quarter EPS of $1.37 on revenue of $11.99 billion, compared with a profit of $1.32 per share on revenue of $8.83 billion in the year-ago period. Aetna is trading at around $64.52 per share. So far this year, the stock has gained 39.3 percent.
Arch Coal Inc. (NYSE:ACI) is a coal producer. The company has a market cap of $857.48 million. It's expected to report a loss of 33 cents per share in the second quarter of FY 2013 on revenue of $920.49 million, compared with a loss of $2.05 per share on revenue of $1.06 billion in the year-ago period. Arch Coal is trading at around $4.04 per share. So far this year, the stock has lost 44.8 percent.
Belo Corp (NYSE: BLC) is a television company. The company has a market capitalization of $1.46 billion. It's expected to report FY 2013 second-quarter EPS of 21 cents on revenue of $174.56 million, compared with a profit of 24 cents per share on revenue of $177.62 million in the year-ago period. Belo Corp. is trading at around $14.11 per share. So far this year, the stock has gained 84.0 percent.
Coach, Inc. (NYSE: COH) is a marketer of fine accessories and gifts for women and men. The company has a market capitalization of $16.46 billion. It's expected to report FY 2013 fourth-quarter EPS of 89 cents on revenue of $1.24 billion, compared with a profit of 86 cents per share on revenue of $1.16 billion in the year-ago period. Coach is trading at around $58.62 per share. So far this year, the stock has gained 5.5 percent.
Corning Incorporated (NYSE: GLW) is a global, technology-based corporation. The company has a market capitalization of $22.36 billion. It is expected to report FY 2013 second-quarter EPS of 30 cents on revenue of $1.97 billion, compared with a profit of 30 cents per share on revenue of $1.91 billion in the year-ago period. Corning Inc. is trading at around $15.16 per share. So far this year, the stock has gained 20.1 percent.
JetBlue Airways Corporation (Nasdaq: JBLU) is a passenger airline that operates primarily on point-to-point routes with its fleet of 120 Airbus A320 aircraft and 49 EMBRAER 190 aircraft. The company has a market capitalization of $1.91 billion. It's expected to report FY 2013 second-quarter EPS of 14 cents on revenue of $1.35 billion, compared with a profit of 16 cents per share on revenue of $1.28 billion in the year-ago period. JetBlue Airways Corp. is trading at around $6.77 per share. So far this year, the stock has gained 18.2 percent.
Merck & Co., Inc. (NYSE: MRK) is a global health care company. The company has a market capitalization of $145.55 billion. It's expected to report FY 2013 second-quarter EPS of 46 cents on revenue of $11.22 billion, compared with a profit of 58 cents per share on revenue of $12.31 billion in the year-ago period. Merck is trading at around $48.20 per share. So far this year, the stock has gained 17.7 percent.
National-Oilwell Varco, Inc. (NYSE: NOV) is a provider of equipment and components used in oil and gas drilling and production operations, oilfield services, and supply chain integration services to the upstream oil and gas industry. The company has a market capitalization of $30.55 billion. It's expected to report FY 2013 second-quarter EPS of $1.34 on revenue of $5.42 billion, compared with a profit of $1.42 per share on revenue of $4.73 billion in the year-ago period. National-Oilwell Varco is trading at around $71.46 per share. So far this year, the stock has gained 4.6 percent.
Occidental Petroleum Corporation (NYSE: OXY) engages in oil and gas exploration and production in the U.S. and the Middle East. The company has a market capitalization of $72.76 billion. It's expected to report FY 2013 second-quarter EPS of $1.68 on revenue of $6.18 billion, compared with a profit of $1.64 per share on revenue of $5.77 billion in the year-ago period. Occidental Petroleum Corp. is trading at around $90.37 per share. So far this year, the stock has gained 18.0 percent.
Nielsen Hldg NV (NYSE: NLSN) is a global information and measurement company. The company has a market capitalization of $12.43 billion. It's expected to report FY 2013 second-quarter EPS of 30 cents on revenue of $1.40 billion, compared with a profit of 28 cents per share on revenue of $1.39 billion in the year-ago period. Nielsen is trading at around $33.14 per share. So far this year, the stock has gained 8.3 percent.
Office Depot Inc (NYSE: ODP) is a global supplier of office products and services. The company has a market capitalization of $1.27 billion. It is expected to report a loss of 10 cents a share in the second quarter of FY 2013 on revenue of $2.43 billion, compared with a loss of 23 cents per share on revenue of $2.51 billion in the year-ago period. Office Depot is trading at around $4.44 per share. So far this year, the stock has gained 35.5 percent.
Pfizer Inc. (NYSE: PFE) is a research-based, global biopharmaceutical company. The company has a market capitalization of $207.33 billion. It's expected to report FY 2013 second-quarter EPS of 42 cents on revenue of $13.04 billion, compared with a profit of 43 cents per share on revenue of $15.06 billion in the year-ago period. Pfizer is trading at around $29.21 per share. So far this year, the stock has gained 16.6 percent.
Sprint Nextel Corp. (NYSE:S) is a communications company offering a range of wireless and wireline communications products and services. The company has a market cap of $48.32 billion. It's expected to report a loss of 33 cents per share in the second quarter of FY 2013 on revenue of $8.74 billion, compared with a bigger loss of 46 cents per share on revenue of $7.3 billion in the year-ago period. Sprint Nextel is trading at around $5.78 per share. So far this year, the stock has gained 2.0 percent.
The Goodyear Tire & Rubber Company (Nasdaq: GT) is a manufacturer of tires. The company has a market cap of $4.30 billion. It's expected to report FY 2013 second-quarter EPS of 43 cents on revenue of $4.89 billion, compared with a profit of 33 cents per share on revenue of $5.15 billion in the year-ago period. The Goodyear Tire & Rubber Company is trading at around $16.81 per share. So far this year, the stock has gained 28.7 percent.
United States Steel Corporation (NYSE: X) produces and sells steel mill products. The company has a market cap of $2.69 billion. It's expected to report a loss of 55 cents per share in the second quarter of fiscal year 2013 on revenue of $4.61 billion, compared with a profit of 62 cents per share on revenue of $5.02 billion in the year-ago period. United States Steel Corporation is trading at around $18.68 per share. So far this year, the stock has lost 21.6 percent.
The Western Union Company (NYSE: WU) is engaged in money movement and payment services. The company has a market cap of $9.45 billion. It's expected to report FY 2013 second-quarter EPS of 35 cents on revenue of $1.37 billion, compared with a profit of 44 cents per share on revenue of $1.43 billion in the year-ago period. The Western Union Company is trading at around $16.97 per share. So far this year, the stock has gained 24.8 percent.
Pitney Bowes Inc. (NYSE: PBI) is a global provider of software, hardware and services to enable both physical and digital communications and to integrate those physical and digital communications channels. The company has a market cap of $2.94 billion. It's expected to report FY 2013 second-quarter EPS of 44 cents on revenue of $1.19 billion, compared with a profit of 50 cents per share on revenue of $1.25 billion in the year-ago period. Pitney Bowes Inc. is trading at around $14.57 per share. So far this year, the stock has gained 36.9 percent.
Tuesday After Markets Close, or AMC:
Amgen, Inc. (Nasdaq: AMGN) is a global biotechnology pioneer that discovers, develops, manufactures and delivers human therapeutics. The company has a market cap of $81.72 billion. It's expected to report FY 2013 second-quarter EPS of $1.63 on revenue of $4.49 billion, compared with a profit of $1.61 per share on revenue of $4.48 billion in the year-ago period. Amgen Inc. is trading at around $109.01 per share. So far this year, the stock has gained 26.4 percent.
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