Record Oil Profits

123jump.com Staff
23 Oct, 2005
New York City

Flood of earnings are to continue during the coming week with the earnings of oil companies to come under sharp focus. Market for the year is expecting oil companies to top annual industry profit of $63 billion. For the third quarter profits at Exxon Mobil is expected to jump 45%, Chevron 50%, Conoco Phillips 79%, Amerada Hess 91%, Marathon Oil 100%, Apache Corp 76% and Anadarko Petroleum 15% from a year ago.

For the week to come energy companies are to dominate earnings calendar. At least six hundred companies are expected to release earnings for the coming week.

During the previous week ending Oct 21st, more than three hundred companies released their earnings. A mixed-bag of earnings during the week was led by surprise from Google Inc, 3M, J. P. Morgan, Wachovia, Citigroup, SunTrust, Getty Images, eBay, Yahoo! and earnings disappointments from Caterpillar, Pfizer, Hasbro and Mattel.

In the coming week, oil companies’ earnings are expected to come under sharp focus from investors. Shares of Exxon Mobil, Amerada Hess, Conoco Phillips and Murphy Oil and Anadarko Petroleum are likely to be volatile in the week’s trading.

In the last two weeks market’s view on energy companies has weakened as reflected in two large blocks of shares trading hands at a discount. Exxon Mobil’s 24 million shares changed hands at $1.4 billion and Chevron’s 6.2 million shares changed hands at $353 million. Both companies block trades were conducted at a discount to the prevailing market price.

Amerada Hess ((AHC)) is to report on October 26th, earnings of $3.32 per share up 91% on revenue rise of 59% from a year ago to $6.1 billion.

Conoco Phillips ((COP)) is to report on Oct 26th, earnings of $2.56 per share up 79% from a year ago and revenue jump of 50% to $52.1 billion. The company shares have lost 3% in the last three months of trading.

No. 1 U.S. oil company Exxon Mobil ((XOM)) is expected to release third quarter earnings of $1.39 per share on Wednesday, Oct. 27th up 45% from a year ago. In the second quarter ending June 30th, company reported revenue of $88 billion and net income of $7.6 billion or $1.21 per share. The company shares have lost 2.5% value in the last three months of trading and have fallen close to 20% in the last one month.

Marathon Oil ((MRO)) is to report earnings on Oct 27th of $2.76 per share, double the profit from a year ago.

Chevron Corp., ((CVX)) energy company, is expected to report on Friday Q3 net income of $1.92 per share on revenue of $ 55.49 billion, up from $1.28 per share in the same time a year ago. The company share has lost 1.6 % over the last three months.

Apache Corp ((APA)), oil and gas company is to report earnings on Oct 27th of $2.31 per share up 76% from a year ago on revenue rise of 42%.

Anadarko Petroleum ((APC)) is to report earnings on Oct 28th of $2.88 per share up 15% on revenue growth of 16%.

Between the years 2000 and 2004, oil companies have generated annual profits of $24 billion. In the year 2005 industry is likely to generate profit exceeding the forecast of $63 billion.



Other companies to watch during the week


Microsoft to report revenue of $9.8 billion

Microsoft ((MSFT)) is scheduled to report earnings of 30 cents per share on revenue of $9.8 billion for the third quarter according to analysts polled by Thomson compared to 26 cents a year ago. The company stock has fallen close to 8% in the last three months of trading.

Abaxis to Post Earnings up a Penny vs. Year-Ago Period

Abaxis Inc., ((ABAX)) blood analysis systems manufacturer, is expected to report on Monday Q2 of fiscal 2006 net income of 7 cents per share on revenue of $15.10 million, up a penny per share versus Q2 in the year-ago period. The company stock has gained 15% over the last three months.

Macromedia to Report Quarterly Net at 25 Cents a Share

Macromedia Inc., ((MACR)) business software provider, is expected to report on Monday Q2 of fiscal 2006 net income of 25 cents per share on revenue of $123.88 million, up from 22 cents per share in the same time last year. The company stock has gained 6 % over the last three months.

Ameritrade to Post Profit

Ameritrade Holding Corp., ((AMTD)) financial services company, is expected to report on Tuesday Q4 of fiscal 2005 net income of 22 cents per share on revenue of $261.41 million, up from 14 cents per share in the year-ago period. The company stock has lost 1.5 % over the last three months.

Boston Properties to Report Profit down vs. Year-Ago Period

Boston Properties Inc., ((BXP)) real estate investment trust, is expected to report on Tuesday quarterly net income of $1.05 per share on revenue of $351.33 million, down from the actual net income of $1.07 cents per share in the same time last year. The company share has lost 9 % over the last three months.

Cardinal Health to Post Net at 72 Cents a Share

Cardinal Health Inc., ((CAH)) health care provider, is expected to report on Wednesday Q1 of fiscal 2006 net income of 72 cents per share on revenue of $ 19.58 billion, up from 61 cents per share in the same time last year. The company share has gained 9 % over the last three months.

DSP Group to Post Earnings at 33 Cents a Share

DSP Group Inc., ((DSPG)) semiconductor company, is expected to report on Thursday Q3 net income of 33 cents per share on revenue of $ 54.51 million, breakeven from 33 cents per share in the same time last year. The company share has remained nearly unchanged over the last three months.

Cinergy Corp to Post Third-Quarter Profit

Cinergy Corp., ((CIN)) utility holding company, is expected to report on Thursday Q3 net income of 69 cents per share on revenue of $ 1.17 billion, up from 58 cents per share in the same time last year. The company share has lost 14 % over the last three months.


Baker Hughes to Post Quarterly Net Profit

Baker Hughes Inc., ((BHI)) wellbore–related products supplier, is expected to report on Friday Q3 net income of 67 cents per share on revenue of $ 1.86 billion, up from 41 cents per share in the same time a year ago. The company share has remained nearly unchanged over the last three months.