Bellwether Earnings Recaps: Coca Cola, Pfizer, Boeing

On Monday, I looked at Goldman Sachs (NYSE: GS), Google (NASDAQ: GOOG), and GE (NYSE: GE). Now let’s look at Coca Cola (NYSE: KO), Pfizer (NYSE: PFE), and Boeing (NYSE: BA).

Coca-Cola (NYSE: KO) — Internationally, The Real Thing

Earnings Info: Earned 81 cents a share, in-line with the average estimate of analysts polled by Thomson Reuters. They earned the same 81 cents a share during the same quarter a year ago.

Revenue fell 4%, missing analysts’ estimates.

CEO Muhtar Kent said he expects, “the consumer to continue facing economic uncertainties into 2010.”

Comment: With 3/4 of Coca-Cola’s profits coming from overseas and the U.S. dollar continuing to weaken, earnings growth could continue for the beverage giant.

KO 10.21.09
Pfizer (NYSE: PFE) — The Wyeth Acquisition Created a Bigger Pharma Powerhouse

Earnings Info: Earned 43 cents a share vs 34 cents a share during the same quarter a year ago. PFE exceeded analysts’ expectations according to Thomson Reuters.

Revenues slipped 3%, but also beat analysts’ estimates.

CEO Jeff Kindler said, “Now, we have completed the transformational acquisition of Wyeth, which significantly strengthens our people, our pipeline, our assets and our capabilities, and as a result our ability to seize the powerful opportunities ahead of us. I have never felt better about Pfizer’s future.”

Comment: With an uber-confident CEO amid a recessionary environment, the chatter on the Street is PFE may also raise its dividend double digits by mid-December 2009. Now that the acquisition of Wyeth is completed, PFE may continue to grow their dividend.

PFE 10.19.09

Boeing (NYSE: BA) — Fasten Your Seat Belts, Flying Conditions Look Choppy Ahead

Earnings Info: Lost $2.23 per share, which was 11 cents worse than the First Call consensus of a $2.12 loss per share.

Revenue rose 9.1% year over year, but missed analysts’ estimates.

They lowered EPS guidance for FY09 and reaffirmed FY09 revenues.

CEO and Chairman Jim McNerney stated,”We do anticipate continued top-line pressure on all defense programs.”

Comment: Boeing announced lower guidance for the year due to “dwindling demand in its commercial airplane and defense business.” Quality control still seems to be a major issue at Boeing.

BA 10.19.09

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