Commodity Stocks Generating Trading Chatter After Earnings
James River Coal Company (NASDAQ:JRCC) in the third quarter as the company reversed to a loss. Reported a loss of $3.7 million (11 cents per diluted share) in the quarter. The industrial metals and minerals company had net income of $9.2 million or 33 cents per share in the year earlier quarter. Revenue rose 77.3% to $303.9 million from the year earlier quarter. JRCC fell short of the mean analyst estimate of 17 cents per share. It fell short of the average revenue estimate of $337.2 million.
Peter T. Socha, Chairman and Chief Executive Officer commented: “We were generally pleased with our progress this quarter. Obviously, we were disappointed to miss a couple of very valuable metallurgical coal shipments, but this was only an issue of timing not market conditions. Our operations team continues to successfully adjust our mines to the new regulatory environment. We were particularly pleased to receive several safety awards this quarter from both federal and state regulatory authorities. Lastly, we were pleased to complete several new metallurgical and thermal coal sales contracts during a period of market uncertainty.”
Competitors to Watch: Alliance Holdings GP, L.P. (NASDAQ:AHGP), Intl. Coal Group, Inc. (NYSE:ICO), Peabody Energy Corporation (NYSE:BTU), Natural Resource Partners LP (NYSE:NRP), Arch Coal, Inc. (NYSE:ACI), Alliance Resource Partners, L.P. (NASDAQ:ARLP), Patriot Coal Corporation (NYSE:PCX), CONSOL Energy Inc. (NYSE:CNX), Colombia Clean Power & Fuels, Inc. (CCPF), and Walter Energy, Inc. (NYSE:WLT).
GeoResources, Inc. (NASDAQ:GEOI) reported net income above Wall Street’s expectations for the third quarter. Net income for GeoResources, Inc. rose to $9.4 million (36 cents per share) vs. $7.6 million (38 cents per share) in the same quarter a year earlier. This marks a rise of 23.3% from the year earlier quarter. Revenue rose 41.4% to $37.1 million from the year earlier quarter. GEOI beat the mean analyst estimate of 33 cents per share. It beat the average revenue estimate of $32.3 million.
Frank A. Lodzinski, President and CEO of GeoResources, Inc. commented, “Over the past four and a half years, since gaining control over GeoResources, we have persevered through numerous challenges affecting the energy sector including difficult financial markets, volatile commodity prices, challenging weather conditions and increasing service costs. Nevertheless, we have consistently generated solid financial results and have delivered on everything we have told the markets.”
Competitors to Watch: Resolute Energy Corp (NYSE:REN), Brigham Exploration Co. (NASDAQ:BEXP), QEP Resources, Inc. (NYSE:QEP), Continental Resources, Inc. (NYSE:CLR), Oasis Petroleum Inc. (NYSE:OAS), Encore Energy Partners LP (NYSE:ENP), Warren Resources, Inc. (NASDAQ:WRES), Devon Energy Corporation (NYSE:DVN), Double Eagle Petroleum Co. (NASDAQ:DBLE), and Earthstone Energy, Inc. (BSICD).