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Mike Deane Jan 27, 2015
Before the opening bell on Tuesday, a number of big name, dividend paying companies announced their quarterly earnings. Below, we look at these earnings reports and break down the important points for investors.
Bristol-Myers Squibb (BMY ) reported fourth quarter revenues of $4.26 billion, which is down 4% from last year’s Q4 revenues of $4.44 billion. GAAP EPS came in at 1 cent, down from 98 cents last year. Adjusted EPS came in at 46 cents, which is down 10% from last year’s Q4 adjusted EPS of 51 cents. BMY beat analysts’ estimates of 40 cents EPS on revenues of $4.02 billion. Looking ahead to the FY2015, BMY sees EPS between $1.55 and $1.70, while analysts expect $1.71.
Novartis (NVS ) reported third quarter revenues of $14.6 billion, which are down 2% compared to last year’s Q3 revenues. Analysts were expecting revenues of $14.68 billion. Net income came in at $1.5 billion, marking a 26% decline from last year’s Q3 net income, and EPS was down 23% to 62 cents. Core earnings per share came in at $1.21, matching analysts’ estimates.
3M Co. (MMM ) reported fourth quarter revenues of $7.72 billion, up from last year’s Q4 revenues of $7.57 billion. Net income for the quarter came in at $1.18 billion, or $1.81 per diluted share, compared to last year’s Q4 figures of $1.1 billion, or $1.62 per diluted share. 3M beat analysts’ EPS estimates of $1.80, but revenue came in below the $7.77 billion expectation. 3M affirmed its FY2015 expectations, and earnings to be in the range of $8.00 to $8.30 per share.
American Airlines Liquid error: internal reported fourth quarter net income of $597 million, or 82 cents per diluted share, up from last year’s loss of $2 billion, or $5.38 per share. On an adjusted basis, AAL’s EPS for the quarter came in at $1.52 per share. Revenue for the quarter came in at $10.16 billion, up significantly over last year’s Q4 revenues of $7.37 billion. AAL beat analysts’ EPS estimates of $1.51, while revenues just missed the $10.21 billion expectation.
AAL declared a quarterly dividend of 10 cents, which is payable on February 23 to all shareholders on record as of February 9. The stock goes ex-dividend on February 5.
Illinois Tool Works (ITW ) reported fourth quarter revenues of $3.5 billion, which are down slightly from last year’s Q4 revenues of $3.55 billion. Net income for the quarter came in at $450 million, or $1.18 per diluted share, compared to last year’s Q4 figures of $408 million, or 92 cents per diluted share. ITW’s results beat analysts’ EPS estimates of $1.13, while revenues came in shy of the $3.59 billion expectation.