3 Stocks in High Demand Following Earnings Releases
Kinder Morgan Energy Partners L.P (NYSE:KMP) reported its results for the fourth quarter. Net income for the oil and gas company rose to $475 million (51 cents per share) vs. $409 million (42 cents per share) in the same quarter a year earlier. This marks a rise of 16.1% from the year earlier quarter. Revenue rose 4% to $2 billion from the year earlier quarter. KMP fell short of the mean analyst estimate of 61 cents per share. It fell short of the average revenue estimate of $2.38 billion.
Chairman and CEO Richard D. Kinder said, “KMP had a solid fourth quarter and a very successful year overall. We will distribute $4.61 per unit for the full year, exceeding our annual budget of $4.60 per unit and representing an increase of almost five percent from the 2010 distribution per unit. We also generated cash in excess of our distribution target of approximately $21 million.”
Competitors to Watch: Kinder Morgan Inc (NYSE:KMI), Copano Energy, L.L.C. (NASDAQ:CPNO), Enterprise Products Partners L.P. (NYSE:EPD), MarkWest Energy Partners, L.P. (NYSE:MWE), El Paso Pipeline Partners, L.P. (NYSE:EPB), El Paso Corporation (NYSE:EP), Enterprise GP Hldgs. L.P. (EPE), Energy Transfer Partners, L.P. (NYSE:ETP), Duncan Energy Partners L.P. (NYSE:DEP), and Magellan Midstream Partners, L.P. (NYSE:MMP).
CLARCOR Inc. (NYSE:CLC) reported net income above Wall Street’s expectations for the fourth quarter. Net income for CLARCOR Inc. rose to $37.2 million (73 cents per share) vs. $29 million (57 cents per share) in the same quarter a year earlier. This marks a rise of 28.4% from the year earlier quarter. Revenue rose 11.6% to $307.5 million from the year earlier quarter. CLC beat the mean analyst estimate of 68 cents per share. Analysts were expecting revenue of $305.5 million.
Chris Conway, CLARCOR’s Chief Executive Officer, commented, “We capped off another successful year with record fourth quarter results. We are particularly proud of our 17.8% operating margin in the fourth quarter–almost two percentage points higher than last year’s fourth quarter and our highest quarterly operating margin since 1991. This operating margin improvement combined with our continued sales growth facilitated our fourth quarter being the eighth consecutive quarter where we exceeded our previous year’s quarterly diluted earnings per share by at least 15%. Once again, this consistent success is a result of the continued execution of our long-term strategy including a commitment to sustainable sales growth, cost containment and continuous improvement.”
Competitors to Watch: Pall Corporation (NYSE:PLL), ESCO Technologies Inc. (NYSE:ESE), PMFG Inc (NASDAQ:PMFG), Ball Corporation (NYSE:BLL), Flanders Corporation (FLDR), Illinois Tool Works Inc. (NYSE:ITW), Silgan Holdings Inc. (NASDAQ:SLGN), Federal-Mogul Corporation (NASDAQ:FDML), Crown Holdings, Inc. (NYSE:CCK), and Bway Holding Company (BWY).
Sanmina – SCI Corporation (NASDAQ:SANM) reported its results for the first quarter. Net income for Sanmina – SCI Corporation fell to $8.6 million (10 cents per share) vs. $28.4 million (34 cents per share) a year earlier. This is a decline of 69.8% from the year earlier quarter. Revenue fell 9.6% to $1.5 billion from the year earlier quarter. SANM reported adjusted net income of 28 cents per share. By that measure, the company beat the mean estimate of 27 cents per share. It fell short of the average revenue estimate of $1.56 billion.
“The revenue decline in the first quarter was caused by weakness in the Communications Networks segment and the Thailand floods that impacted shipments to some Enterprise Computing & Storage, and Multimedia customers,” stated Jure Sola, Chairman and Chief Executive Officer. “While our second quarter remains challenging, input from our customers indicates we should see improvements in the second half of 2012.”
Competitors to Watch: Jabil Circuit, Inc. (NYSE:JBL), TTM Technologies, Inc. (NASDAQ:TTMI), Benchmark Electronics, Inc. (NYSE:BHE), DDi Corp. (NASDAQ:DDIC), SigmaTron International (NASDAQ:SGMA), Celestica Inc. (NYSE:CLS), SMTC Corporation (NASDAQ:SMTX), Flextronics Intl. Ltd. (NASDAQ:FLEX), CTS Corporation (NYSE:CTS), and Kimball International (NASDAQ:KBALB).