Thursday, October 27, 2016

Earnings Roll In - PG, MO, PX, WAB

This week is a heavier than normal week for earnings, and for me it's been a busy week too.  Here is a brief update for the stocks that have reported so far that I haven't either mentioned or tweeted about. I've included their press release for your leisurely review.

Procter & Gamble(PG) announced Q1'17 EPS of $0.96 on flat revenues of  $16.5 billion. Here is the company guidance for the year and Press Release

Fiscal Year 2017 Guidance

P&G said it is maintaining its projection for organic sales growth of approximately two percent for fiscal 2017. The Company expects the combined headwinds of foreign exchange and minor brand divestitures to reduce sales growth by about one percentage point. As a result, P&G continues to estimate all-in sales growth of about one percent for fiscal 2017.

The Company also maintains its expectation for core earnings per share growth of mid-single digits versus fiscal 2016 core EPS of $3.67. All-in GAAP earnings per share are expected to increase 45% to 50% versus fiscal year 2016 GAAP EPS of $3.69. The fiscal 2017 GAAP EPS estimate includes approximately $0.10 per share of non-core restructuring costs and $0.13 per share of charges related to early debt retirement that was initiated earlier this month. Also included in GAAP EPS is a significant gain from the divestiture of 41 beauty brands to Coty Inc. The exact earnings gain from the transaction with Coty, which closed October 1, 2016, will be reported in the second quarter results

Wabtech(WAB) announced Q3 EPS of $0.91 on revenues of $675 million.  The company also updated it's guidance where they lowered the top end from previous estimates. Not exactly what I'd like to see. Here is their earnings release

Based on its year-to-date results and outlook for the rest of the year, Wabtec updated its full-year 2016 guidance as follows: Revenues are now expected to be down about 12 percent compared to 2015, and earnings per diluted share are now expected to be between $4.00-$4.04. This guidance does not include costs for restructuring activities or expenses related to the Faiveley Transport acquisition. Faiveley Transport is a global supplier of high added value integrated systems for the railway industry with annual revenues of about $1.2 billion.

Raymond T. Betler, Wabtec’s president and chief executive officer, said: “Our transit business continues to perform well, while the freight markets remain challenging due to overall rail industry conditions and the sluggish global economy. We have continued to focus on controlling what we can by aggressively reducing costs, generating cash and investing in our growth opportunities, including acquisitions. At the same time, we are progressing toward completion of the Faiveley Transport acquisition and remain excited by its growth and improvement opportunities.”

 Praxair(PX) announced Q3 EPS of $1.18 on revenues of $2.7 billion. Guidance for Q4 is $1.36-$1.43, and full year results should come in at $5.17-5.24. Here is the Press Release. 

Altria(MO) announced Q3 EPS of $0.56 on revenues on revenues of $6.9 billion. Here is the Press Release.

Here is the company guidance.

Altria reaffirms its most recent guidance for 2016 full-year adjusted diluted EPS, which reflects the reporting lag, to be in a range of $2.98 to $3.04. This represents a growth rate of 6.5% to 8.5% from a 2015 adjusted diluted EPS base of $2.80


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