Earnings Roundup: 3 NYSE Stocks to Analyze After Earnings
Must Read Feature: Hurricane Irene is Set to Storm Insurance Company Stocks.
1) Medtronic Inc. (NYSE:MDT) reported its results for the first quarter. Net income for the medical appliances and equipment company fell to $821 million (77 cents per share) vs. $830 million (76 cents per share) a year earlier. This is a decline of 1.1% from the year earlier quarter. Revenue rose 7.3% to $4.05 billion from the year earlier quarter. MDT reported adjusted net income of 79 cents per share. By that measure, the company fell in line with the mean estimate of 79 cents per share. Analysts were expecting revenue of $3.98 billion.
“Our first quarter results showed growth across many of our businesses. The major exceptions were ICDs and spinal products, where we continued to face challenges,” said Omar Ishrak, Medtronic chairman and chief executive officer. “My top priority is aligning the management team around improving execution and optimizing sources of growth.”
Competitors to Watch: Boston Scientific Corp. (NYSE:BSX), St. Jude Medical, Inc. (NYSE:STJ), Edwards Lifesciences Corp (NYSE:EW), Johnson & Johnson (NYSE:JNJ), ZOLL Medical Corporation (NASDAQ:ZOLL), Abbott Laboratories (NYSE:ABT), and Stryker Corporation (NYSE:SYK).
2) H. J. Heinz Company (NYSE:HNZ) in the first quarter as profit dropped from a year earlier. Net income for H. J. Heinz Company fell to $226.1 million (70 cents per share) vs. $240.4 million (75 cents per share) a year earlier. This is a decline of 6% from the year earlier quarter.Revenue rose 14.9% to $2.85 billion from the year earlier quarter. HNZ reported adjusted net income of 78 cents per share. By that measure, the company beat the mean estimate of 76 cents per share. It beat the average revenue estimate of $2.78 billion.
Heinz Chairman, President and CEO William R. Johnson said: “Emerging Markets generated a record 23% of our sales in the first quarter, up from 18% a year ago. Our strategy to accelerate growth in Emerging Markets organically and through acquisitions in countries with fast-growing populations helped Heinz deliver strong top-line growth and solid operating results despite the economic downturn in Developed Markets. Heinz also drove strong growth in global ketchup and our Top 15 brands by focusing on value-added consumer innovation and new product development.”
Competitors to Watch: Ralcorp Holdings, Inc. (NYSE:RAH), Smart Balance, Inc. (NASDAQ:SMBL), TreeHouse Foods Inc. (NYSE:THS), The Hain Celestial Group, Inc. (NASDAQ:HAIN), Campbell Soup Company (NYSE:CPB), ConAgra Foods, Inc. (NYSE:CAG), Kraft Foods Inc. (NYSE:KFT), General Mills, Inc. (NYSE:GIS), Unilever plc (NYSE:UL), and Unilever N.V. (NYSE:UN).
3) Williams-Sonoma Inc. (NYSE:WSM) reported its results for the second quarter. Net income for Williams-Sonoma Inc. rose to $39.3 million (37 cents per share) vs. $30.8 million (28 cents per share) in the same quarter a year earlier. This marks a rise of 27.8% from the year earlier quarter. Revenue rose 5.1% to $814.8 million from the year earlier quarter. WSM beat the mean analyst estimate of 36 cents per share. Analysts were expecting revenue of $824 million.
Laura Alber, President and Chief Executive Officer, commented, “The second quarter was another strong quarter for the company as comparable brand revenues increased 6% and non-GAAP EPS increased 19% to a second quarter record of $0.37 per share. Non-GAAP operating margin increased 80 basis points to a second quarter record of 8.0%. During the quarter, we continued to drive increased traffic and conversion in e-commerce, expand the reach of West Elm and extend our international presence.
Competitors to Watch: Bed Bath & Beyond Inc. (NASDAQ:BBBY), Pier one Imports, Inc. (NYSE:PIR), Kirkland’s, Inc. (NASDAQ:KIRK), Cost Plus, Inc. (NASDAQ:CPWM), Haverty Furniture Companies, Inc. (NYSE:HVT), Italtile Limited (NYSE:ITE), Macy’s (NYSE:M) and Nordstrom’s (NYSE:JWN).