What About Earnings – 5 Feb 09

  • The following trend shows that the quality retailers are showing signs of a come back due to cost cutting. Health-care is again a winner and a much safer bet in this environment.
  • House-hold products have seen in-line earnings, so has the defense sector.
  • Losers have been retailers who have huge debt and are not innovating to attract consumers. Real-estate operations again show up in this category which is not a surprise anymore. Lower oil prices have lead to energy companies to struggle as well.

POSITIVE EARNINGS
Kohl’s to Beat Estimates

Kohl’s Corporation (KSS) said it now expects to exceed the current consensus earnings estimate of $0.99 per share for the fiscal fourth quarter ended January 31, 2009.

Ross Stores Raises Guidance
Ross Stores Inc. (ROST) said it expects fourth quarter earnings of $0.75 to $0.76 per share. The company’s previous guidance was earnings of $0.73 to $0.75 per share and the current consensus earnings estimate is $0.74 per share for the quarter ending January 31, 2009.

Aeropostale Guides Higher
Aeropostale (ARO) said it expects fourth quarter earnings of approximately $1.00 per share. The company’s previous guidance was earnings of $0.90 to $0.92 per share and the current consensus earnings estimate is $0.92 per share for the quarter ending January 31, 2009.

Macy’s Guides Higher
Macy’s, Inc. (M) said it now expects fourth quarter earnings of $1.00 to $1.02 per share. The company’s previous guidance was earnings of $0.90 to $1.00 pe rshare and the current consensus earnings estimate is $0.95 per share for the quarter ending January 31, 2009.

Gap Raises Guidance
Gap Inc. (GPS) said it now expects fiscal year earnings of $1.32 to $1.33 per share. The company’s previous guidance was earnings of $1.27 to $1.30 per share and the current consensus earnings estimate is $1.29 per share for the year ending January 31, 2009.

Gymboree Narrows Guidance Above Estimates
Gymboree (GYMB) said it now expects fourth quarter earnings of $0.96 to $1.00 per share. The company’s previous guidance was earnings of $0.92 to $1.00 per share and the current consensus earnings estimate is $0.94 per share for the quarter ending January 31, 2009.

CIGNA Sees 2009 Earnings Above Estimates
CIGNA Corp. (CI) said it expects 2009 earnings of $3.95 to $4.25 per share. The current consensus earnings estimate is $3.87 per sharefor the year ending December 31, 2009.

INLINE EARNINGS
Owens & Minor Guides Revenue Below Estimates
Owens & Minor Inc. (OMI) said it expects 2009 earnings of $2.55 to $2.70 per share on revenue of $7.82 billion to $8.11 billion. The current consensus earnings estimate is $2.62 per share on revenue of $8.14 billion for the year ending December 31, 2009.

McDermott Provides Guidance
McDermott International Inc. (MDR) said it expects fourth quarter earnings of $0.16 to $0.19 per share on revenue of $1.60 billion to $1.67 billion. The current consensus earnings estimate is $0.45 per share on revenue of $1.65 billion for the quarter ending December 31, 2008. The company also said it believes the current range of analysts’ estimates for 2009 earnings of $1.35 to $2.14 per share is reasonable. The current consensus earnings estimate is $1.83 per share for the year ending December 31, 2009.

Dick’s Sporting Goods Announces Charges
Dick’s Sporting Goods, Inc. (DKS) said it expects fourth quarter earnings to at least be at the mid-point of its previous guidance range of $0.49 to $0.56 per share, excluding charges, but now expects to report charges of $1.29 to $1.37 per share. The current consensus earnings estimate is $0.51 per share for the quarter ending January 31, 2009.

Dollar Tree Stores Updates Guidance
Dollar Tree Stores Inc. (DLTR) said it expects fourth quarter earnings to be above the mid-point of its earlier guidance range of $1.07 to $1.15 per share. The current consensus earnings estimate is $1.13 per share for the quarter ending January 31, 2009.

TJX Companies Narrows Guidance
TJX Companies Inc. (TJX) said it now expects fourth quarter earnings of $0.50 to $0.51 per share. The company’s previous guidance was earnings of $0.47 to $0.51 per share and the current consensus earnings estimate is $0.50 per share for the quarter ending January 31, 2009.

American Eagle Outfitters Reaffirms
American Eagle Outfitters (AEO) said it expects fourth quarter earnings of $0.19 to $0.21 per share. The current consensus earnings estimate is $0.20 per share for the quarter ending January 31, 2009.

Estee Lauder Companies Reaffirms for the Year
Estee Lauder Companies Inc. (EL) said it continues to expect fiscal 2009 earnings of $1.30 to $1.60 per share. The current consensus earnings estimate is $1.40 per share for the year ending June 30, 2009.

Spirit AeroSystems Sees Earnings Inline; Revenue Above
Spirit AeroSystems (SPR) said it expects 2009 earnings of $2.15 to $2.35 per share on revenue of $4.25 billion to $4.35 billion. The current consensus earnings estimate is $2.33 per share on revenue of $4.23 billion for the year ending December 31, 2009.

Bunge Reaffirms Above Estimates
Bunge Ltd. (BG) said it continues to expect 2009 earnings of $6.90 to $7.60 per share. The current consensus earnings estimate is $6.34 per share for the year ending December 31, 2009.

NEGATIVE EARNINGS
Mid-America Apartment Communities Guides Below Estimates
Mid-America Apartment Communities, Inc. (MAA) said it expects first quarter funds from operations of $0.87 to $0.97 per share and 2009 FFO of $3.44 to $3.64 per share. The current consensus FFO estimate is $0.92 per share for the quarter ending March 31, 2009 and $3.68 per share for the year ending December 31, 2009.

Multi-Fineline Electronix Sees Revenue Below Estimates
Multi-Fineline Electronix Inc. (MFLX) said it expects second quarter revenue of $170.0 million to $190.0 million. The current consensus estimate is revenue of $200.6 million for the quarter ending March 31, 2009.

Pitney Bowes Guides Below Estimates
Pitney Bowes Inc. (PBI) said it expects 2009 earnings of $2.55 to $2.75 per share. The current consensus earnings estimate is $2.83 per share for the year ending December 31, 2009.

bebe stores Guides Below Estimates
bebe stores inc. (BEBE) said it expects a third quarter loss of $0.10 to $0.05 per share. The current consensus estimate is earnings of $0.01 per share for the quarter ending March 31, 2009.

Skechers Guides Below Estimates
Skechers U.S.A. Inc. (SKX) said it expects a fourth quarter loss of $0.50 to $0.45 per share on revenue of $290.0 million to $300.0 million. The current consensus estimate is for earnings of $0.14 per share on revenue of $307.5 million for the quarter ending December 31, 2008.

J.C. Penney Narrows Guidance Below Estimates
J.C. Penney Company (JCP) said it now expects fourth quarter earnings of $0.90 to $0.93 per share. The company’s previous guidance was earnings of $0.90 to $1.05 per share and the current consensus earnings estimate is $0.94 per share for the quarter ending January 31, 2009.

Target Guides Below Estimates
Target Corporation (TGT) said it now expects fourth quarter earnings to be somewhat below the current consensus earnings estimate of $0.86 per share for the fourth quarter ended January 31, 2009.

Lubrizol Guides Below Estimates
Lubrizol (LZ) The company said it expects 2009 earnings of $3.60 to $4.00 per share. The current consensus earnings estimate is $4.20 per share for the year ending December 31, 2009.

Wal-Mart Stores Sees Revenue Below Estimates
Wal-Mart Stores (WMT) said it expects fiscal year revenue of approximately $401.0 million. The current consensus estimate is revenue of $407.00 billion for the year ending January 31, 2009.

FLIR Systems Guides Below Estimates
FLIR Systems Inc. (FLIR) said it expects 2009 earnings of $1.40 to $1.47 per share on revenue of $1.20 billion to $1.25 billion. The current consensus earnings estimate is $1.50 per share on revenue of $1.34 billion for the year ending December 31, 2009.

Western Union Guides Below Estimates
Western Union Company (WU) said it expects 2009 earnings of $1.18 to $1.28 per share on revenue of $4.03 billion to $4.16 billion. The current consensus earnings estimate is $1.40 per share on revenue of $5.61 billion for the year ending December 31, 2009.

Burger King Lowers Guidance Due to Currencies
Burger King Holdings Inc. (BKC) said it now expects 2009 earnings of $1.44 to $1.49 per share, including a $0.10 per share currency impact. The company’s previous guidance was earnings of $1.54 to $1.59 per share and the current consensus earnings estimate is $1.51 per share for the year ending June 30, 2009.

Moody’s Guides Below Estimates
Moody’s (MCO) said it expects 2009 earnings of $1.40 to $1.50 per share. The current consensus earnings estimate is $1.59 per share for the year ending December 31, 2009.

Penn National Gaming Guides Below Estimates
Penn National Gaming Inc. (PENN) said it expects first quarter earnings of approximately $0.31 per share on revenue of approximately $610.6 million. The current consensus earnings estimate is $0.37 per share on revenue of $608.2 million for the quarter ending March 31, 2009. The company also said it expects 2009 earnings of approximately $1.29 per share on revenue of approximately $2.53 billion. The current consensus earnings estimate is $1.40 per share on revenue of $2.45 billion for the year ending December 31, 2009.

Church & Dwight Guides Below Estimates
Church & Dwight Co. Inc. (CHD) said it expects 2009 earnings of $3.20 to $3.25 per share. The current consensus earnings estimate is $3.26 per share for the year ending December 31, 2009.

Duke Energy Provides Guidance Below Estimates
Duke Energy Corp. (DUK) said it is targeting 2009 earnings at approximately $1.20 per share. The current consensus earnings estimate is $1.26 per share for the year ending December 31, 2009.

Kimco Realty Guides Below Estimates
Kimco Realty Corp. (KIM) said it expects 2009 funds from operations of $1.70 to $1.90 per share. The current consensus FFO estimate is $2.22 per share for the year ending December 31, 2009.