Seadrill Ltd Reported Q2 Results

- Seadrill Ltd Reported Q2 Results



Aug 25, 2011

Seadrill Limited (NASDAQ:SDRL) reported Q2 EPS of $1.34, vs. consensus estimates of $0.69 per share. Revenues for the quarter rose 6.6% year-over-year to $995 million, missing consensus estimates of $1.01 billion.

Seadrill has a potential upside of 23.8% based on a current price of $31.04 and an average consensus analyst price target of $38.42.

Seadrill is currently below its 50-day moving average (MA) of $33.03 and below its 200-day MA of $34.15.

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UK Oil Industry Confidence Increases on Quarter

- UK Oil Industry Confidence Increases on Quarter

Wednesday, August 17, 2011
Dow Jones Newswires
LONDON
by Alexis Flynn

The outlook of firms producing oil and gas in Britain improved in the second quarter from the previous three months, data from Oil & Gas U.K. showed Wednesday, although the industry body said business confidence remains "fragile" in the wake of a tax increase announced in March.

Oil & Gas U.K. said overall industry confidence increased modestly from 51 to 54 points. The index measures a number of economic indicators and gauges overall industry confidence on a 100-point scale, with a rating above 50 indicating a more positive outlook and a rating below 50 representing a more negative viewpoint.

Industry confidence fell 12 points on a quarterly basis in May after Chancellor of the Exchequer George Osborne in March imposed a large and unexpected tax rise on the sector, increasing the state's take on oil and gas profits to 32% from 20% overnight.

The government has since announced a concession to North Sea producers by offering some relief for investments in marginal fields.

Ken Cruickshank, Oil & Gas U.K.'s supply chain manager, said that while confidence had improved among the majors, the outlook among independent operators had soured further.

"While it appears that some companies may feel reassured by the Treasury's willingness to engage on ways to mitigate the negative impact of the tax increase on investment, the confidence of many independent operators in particular continued to decline in the second quarter," Cruickshank said.

Copyright (c) 2011 Dow Jones & Company, Inc.

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JinkoSolar Holding Reported In Line Q2 EPS

- JinkoSolar Holding Reported In Line Q2 EPS



Aug 16, 2011

JinkoSolar Holding (NYSE:JKS) reported Q2 EPS of $1.38, in line with consensus estimates. Revenues for the quarter rose 152% year-over-year to $350.6 million, topping consensus estimates of $320.3 million.

The company sees Q3 revenues of $310 to $330 million, vs. consensus estimates of $343.13 million, with shipments of about 230 to 250 MW. For 2011, JinkoSolar sees revenues of $1.4 to $1.5 billion, vs. consensus estimates of $1.36 billion, with shipments of 950 to 1k MW.

Mr. Kangping Chen, JinkoSolar's chief executive officer said, "We are pleased to announce the second quarter results that came in ahead of our expectations, despite the challenging market environment. During the quarter, we exceeded our shipment and revenue guidance, and were able to maintain relatively healthy margins as a result of further improvements to our cost structure. The healthy growth is a testament to our ability to capitalize on our brand name and maintain the strong relationships we have built with our existing customers across the globe."

JinkoSolar has a potential upside of 81.2% based on a current price of $16.76 and an average consensus analyst price target of $30.37.

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Sempra Energy Reported Mixed Q2 Results, Top Line Up 21%

- Sempra Energy Reported Mixed Q2 Results, Top Line Up 21%



Aug 9, 2011

Sempra Energy (NYSE:SRE) reported adjusted Q2 EPS of $0.97, missing consensus estimates of $0.98 per share. Revenues for the quarter rose 21% year-over-year to $2.42 billion, topping consensus estimates of $2.18 billion.

The company sees 2011 EPS of $4.00 to $4.30 per share, vs. consensus estimates of $4.20 per share.

Debra L. Reed, chief executive officer of Sempra Energy said, "Through the first half of the year, we are performing well across the board and are on track to meet our 2011 earnings guidance. Our utility and pipeline acquisitions are providing strong contributions to our earnings. We also are making excellent progress on our major California utility projects and our build-out of contracted renewable energy infrastructure."

Sempra Energy has a potential upside of 24.6% based on a current price of $46.03 and an average consensus analyst price target of $57.36.

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Abraxas Petroleum Announces Production And 2011 Estimates

- Abraxas Petroleum Announces Production And 2011 Estimates



Aug 9, 2011

During the month of July, Abraxas (NASDAQ:AXAS) produced 4,160 barrels of oil equivalent per day up from an average of 3,845 barrels of oil equivalent per day for the Q2.

Abraxas expects production for 2011 to average 4,000 to 4,200 barrels of oil equivalent per day, including its equity interest share of Blue Eagle's production that would generate an exit rate for 2011 between 4,700 and 4,900 barrels of oil equivalent per day.

Abraxas Petroleum (NASDAQ:AXAS) has a potential upside of 97.6% based on a current price of $3.09 and an average consensus analyst price target of $6.11.

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Pioneer Drilling Topped Q2 Estimates, Top Line Surged 46.4% YoY

- Pioneer Drilling Topped Q2 Estimates, Top Line Surged 46.4% YoY



Aug 4, 2011

Pioneer Drilling (AMEX:PDC) reported Q2 EPS of $0.07, ahead of consensus estimates of $0.04 per share. Revenues for the quarter rose 46.4% year-over-year to $171.3 million, topping consensus estimates of $166.0 million.

William Locke, President and CEO of Pioneer Drilling said, "We continue to see strong demand for our drilling rigs in the West Texas drilling division, which has grown from zero to 12 rigs since the beginning of 2011, and we have contracted four more rigs that will begin operating in West Texas by year-end, although day rates are lower in West Texas when compared to certain other regions, putting rigs back to work results in higher utilization rates and increased Adjusted EBITDA."

Pioneer Drilling has a potential upside of 14.3% based on a current price of $15.58 and an average consensus analyst price target of $17.81.

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Ford Topped Q2 Estimates, Top Line Up 16%, Maintained FY Industry Volume Estimate

- Ford Topped Q2 Estimates, Top Line Up 16%, Maintained FY Industry Volume Estimate



Jul 26, 2011

Ford (NYSE:F) reported Q2 EPS of $0.65, ex-items, ahead of consensus estimates of $0.60 per share. Auto sector revenues rose 16.3% year-over-year to $33.5 billion, topping consensus estimates of $31.6 billion.

The company expects full year industry volume of 13 to 13.5 million units, in line with its previous estimate.

Chairman and CEO Mike Bannister said, "Ford Credit's business continues to perform well, with low credit losses and strong originations capability. We continue to succeed in our mission to support Ford sales."

Ford Motor has a potential upside of 49.3% based on a current price of $13.17 and an average consensus analyst price target of $19.67.

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Baker Hughes Tops Q2 Earnings and Revenue Estimates

- Baker Hughes Tops Q2 Earnings and Revenue Estimates



Jul 25, 2011

Baker Hughes (NYSE:BHI) reported Q2 EPS of 93 cents, topping consensus estimates of 91 cents. Revenue rose 41% year-over-year to $4.74 billion, better than the $4.55 billion analysts were expecting.

Adjusted EBITDA in the second quarter 2011 was $1.02 billion, up $63 million sequentially.

Chad Deaton, chairman and CEO, said, "Our performance was solid this quarter with steady improvement of our international profit margin. As expected, the sequential profit improvement in US Land and the Gulf of Mexico nearly offset the seasonal decline in Canada."

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CarMax Posts Strong Q1, EPS Beats By $0.08, Revenue Grows 18% Year Over Year

- CarMax Posts Strong Q1, EPS Beats By $0.08, Revenue Grows 18% Year Over Year



Jun 22, 2011

CarMax, Inc. (NYSE:KMX) reported Q1 EPS $0.55 today, beating the consensus estimate for $0.47 per share. Revenues for the quarter grew 18% year-over-year to $2.68 billion, topping the consensus estimate for $2.52 billion.

Tom Folliard, president and chief executive officer said, "We are pleased to report another quarter of strong results. Comparable store used unit sales increased 6%, fueled by increased customer traffic. While traffic for the current quarter remained solidly above the prior year level, sales conversion dipped somewhat. We are especially pleased with our performance in light of recent economic and market challenges, including higher gas and vehicle prices, the uptick in the unemployment rate and the recent pull-back in consumer confidence."

Carmax has a potential upside of 29.6% based on a current price of $30.52 and an average consensus analyst price target of $39.56.

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Layne Christensen Posts Stellar Q1, Beats EPS Estimates By $0.38

- Layne Christensen Posts Stellar Q1, Beats EPS Estimates By $0.38



Jun 8, 2011

Layne Christensen Company (NASDAQ:LAYN) reported Q1 EPS of $0.66 today, crushing the consensus estimate for $0.28 per share. Revenues grew 15.9% year-over-year to $267.37 million, well above the consensus estimate for $242.88 million.

Andrew B. Schmitt, President and Chief Executive Officer said, "Layne Christensen Company had an all-time record first quarter in revenues and the third best first quarter in earnings, excluding the gain on sale of our Fontana, California facility. The Mineral Exploration Division was up significantly over last year in both revenues and earnings and the Water Infrastructure Division improved in an environment of continued weakness in municipal spending. Our Energy Division remains profitable despite very weak natural gas pricing. The markets in which we operate outside the U.S. still look very strong."

Layne Christensen has a potential upside of 20.4% based on a current price of $27.41 and an average consensus analyst price target of $33.

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Navistar Reports Mixed Q2, Tightened Guidance Shows Upside vs. Estimates

- Navistar Reports Mixed Q2, Tightened Guidance Shows Upside vs. Estimates



Jun 7, 2011

Navistar International Corporation (NYSE:NAV) reported Q2 EPS of $1.02 today, falling short of the consensus estimate for $1.17 per share. Revenues for the quarter grew 22.3% year-over-year to $3.35 billion, above the consensus estimate for $3.30 billion.

Daniel C. Ustian, Navistar chairman, president and chief executive officer said, "The second quarter results represent good earnings and strong cash flow from operations while building to deliver to our 2011 and beyond objectives. We continue to see increasing customer acceptance of all our engine and vehicle families, confirming we have the right strategy in place and that we will deliver full year results toward the higher side of our previous guidance."

For the full year, the company tightened its guidance, and now sees 2011 EPS of $5.50 to $6.00, vs. the consensus estimate for $5.46 per share.

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Petrohawk Energy Topped Q1 Estimates, Top Line Up 12% YoY

Petrohawk Energy Topped Q1 Estimates, Top Line Up 12% YoY



May 5, 2011

Petrohawk Energy (NYSE:HK) reported Q1 EPS of $0.15, ahead of consensus estimates of $0.14 per share. Revenues for the quarter rose 12.3% year-over-year to $491.7 million, ahead of consensus estimates of $475.7 million.

The company said that production during the quarter was 17,815 BOE/d, up 3% from Q4 2010 and down 2% from Q1 2010 production.

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Devon Energy Posts Mixed Q1 Results, EPS Slight Beat, Revenues Miss

Devon Energy Posts Mixed Q1 Results, EPS Slight Beat, Revenues Miss



May 4, 2011

Devon Energy Corporation (NYSE:DVN) reported Q1 EPS of $1.34 ex-items today, just beating the consensus estimate for $1.33 per share. Revenue for the quarter was down 33% year-over-year to $2.15 billion, below the consensus estimate for $2.24 billion.

Devon Energy has a potential upside of 17% based on a current price of $87.32 and an average consensus analyst price target of $102.17.

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Valero Energy Reports Mixed Q1, EPS Misses By $0.12, Revs Up 42% YoY

Valero Energy Reports Mixed Q1, EPS Misses By $0.12, Revs Up 42% YoY



Apr 26, 2011

Valero Energy (NYSE:VLO) reported Q1 EPS of $0.18, missing the consensus estimate for $0.30 per share. Revenues for the quarter were up 42% year-over-year to $26.31 billion, beating the consensus estimate for $22.29 billion.

"Clearly, the first quarter was a much better start to the year than last year," said Valero Chairman and CEO Bill Klesse. "Our refining system experienced strong margins and turned in solid results despite a heavy maintenance schedule and associated restart delays. We also announced the acquisition of Chevron's Pembroke refinery, marketing, and logistics assets in the United Kingdom and Ireland. These attractively priced assets will improve the competitiveness of our asset portfolio and should be immediately accretive to earnings upon closing in the third quarter."

Johnson Controls Topped Q2 Estimates, Issued 2011 Revenue Guidance

Johnson Controls Topped Q2 Estimates, Issued 2011 Revenue Guidance



Apr 25, 2011

Johnson Controls (NYSE:JCI) reported Q2 EPS of $0.56, ahead consensus estimates of $0.55 per share. Revenues for the quarter rose 22% year-over-year to $10.1 billion, topping consensus estimates of $9.4 billion.

The company sees 2011 revenues of $39.5 billion, vs. consensus estimates of $38.7 billion.

Stephen A. Roell, Johnson Controls Chairman and Chief Executive Officer said, "The second quarter results show solid momentum across all three of our businesses, with each achieving significantly higher revenues and profitability. The backlog in Building Efficiency grew to record levels as a result of continued market share gains and our strong position in the emerging markets. Power Solutions benefitted from aftermarket battery demand that exceeded our expectations and Automotive Experience revenues outpaced industry production with the launch of 18 major new programs."

PACCAR Beats Q1 Earnings Estimates, Revenue up 53% YoY

PACCAR Beats Q1 Earnings Estimates, Revenue up 53% YoY



Apr 19, 2011

PACCAR (NASDAQ:PCAR) reported Q1 EPS of $0.53, beating the consensus estimate for $0.49 per share. Revenues for the quarter were up 53% year-over-year to $3.04 billion, beating the consensus estimate for $2.97 billion.

Mark Pigott, chairman and chief executive officer said, "PACCAR reported improved revenues and net income for the first quarter of 2011. PACCAR's results reflect the benefits of stronger truck sales in Europe and North America and an improvement in financial services profit and parts revenues worldwide. The higher utilization of PACCAR's truck facilities contributed to increased gross margins. North American and European economies are recovering, with the exception of the residential and commercial construction markets in the United States. Our on-highway customers are benefiting from increased freight tonnage and freight rates which are driving improved fleet productivity. I am very proud of our 19,000 employees who have delivered excellent results to our shareholders and customers."

Harley-Davidson Reports Mixed Q1, Misses EPS By $0.02, Revenue Up 2.5% YoY

Harley-Davidson Reports Mixed Q1, Misses EPS By $0.02, Revenue Up 2.5% YoY



Apr 19, 2011

Harley-Davidson (NYSE:HOG) reported Q1 EPS of $0.51 today, missing the consensus estimate for $0.53 per share. Revenue for the quarter was up 2.5% year-over-year to $1.06 billion, beating the consensus estimate for $1.05 billion.

Harley-Davidson, Inc. President and CEO Keith Wandell said, "We are pleased by the growth of our dealers' new motorcycle sales on a worldwide basis, led by strength in Europe, even as we continue to encounter some headwinds in the U.S. related to the challenging macro-economic conditions."