S&P 500 (NYSE:SPY) component Cameron International Corporation (NYSE:CAM) reported its results for the second quarter. Cameron International is a manufacturer of oil and gas pressure control and separation equipment, including valves, blowout preventers, wellheads, controls, and chokes.
Investing Insights: Is TV the Next Bullish Catalyst for Apple’s Stock?
Cameron International Corporation Earnings Cheat Sheet
Results: Net income for Cameron International Corporation rose to $174.6 million (70 cents per share) vs. $148 million (59 cents per share) in the same quarter a year earlier. This marks a rise of 18% from the year-earlier quarter.
Revenue: Rose 18% to $2.05 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Cameron International Corporation fell short of the mean analyst estimate of 72 cents per share. It beat the average revenue estimate of $2.01 billion.
Quoting Management: Cameron Chairman and Chief Executive Officer Jack B. Moore said, “We expect capital spending to approximate $500 million for 2012 as we focus on investments in our aftermarket and unconventional resource related businesses, as well as our Brazilian capacity expansion.”
For the past five quarters, the company has seen double-digit year-over-year percentage revenue growth. Over that span, the company has averaged growth of 16.1%, with the biggest boost coming in the first quarter when revenue rose 20.2% from the year earlier quarter.
The company has now fallen short of estimates in the last two quarters. In the first quarter, it missed expectations by one cent with net income of 54 cents versus a mean estimate of net income of 55 cents per share.
The company has now seen net income rise in two straight quarters. In the first quarter, net income rose 22.4% from the year earlier.
Looking Forward: Expectations for the company’s next-quarter results are lower than they have been. Over the past sixty days, the average estimate for third quarter has fallen from 92 cents per share to 91 cents. At $3.22 per share, the average estimate for the fiscal year has fallen from $3.29 ninety days ago.
Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute — click here and get our CHEAT SHEET stock picks now.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
Don’t Miss These Hot Additional Stories: