Sears Holding Up 18% On 2009 Q1 Earnings

Friday May 22, 2009
Navivest

Shares of Sears Holdings (SHLD) are rallying $8.98 to $59.17, a gain of 17.89% at 10:44 AM.

The company, which operates the Sears and Kmart stores, announced late on Thursday, that in its fiscal 2009 first-quarter period ending May 3, profit was $26 million, or $0.21 per share on a 9% decline in revenue, which came in at $10.06 billion, from $11.07 in the year ago period.

That was a whole lot better than the $0.88 loss that analysts had been forecasting and compares to a loss of $56 million or $0.43 in the year ago period.

Adjusted EBITDA increased 73% to $359 million in the first quarter as compared to $208 million in the first quarter of 2008.

May 22, 2009 | Filed Under Company News, Earnings | Leave a Comment 

Hewlett Packard Reports 12% Decline In Q2 2009 Earnings

Tuesday May 19, 2009
Navivest

Hewlett-Packard (HPQ) after the bell today, reported a 3.22% decline in revenue from $28.26 billion in Q2 2008, to $27.35 billion in fiscal Q2 2009. The analysts following the company had a consensus revenue estimate of $27.42 billion.

Operating profit on a GAAP basis was down 12% to $2.3 billion.

Operating profit on a non-GAAP basis rose 1% to 2.8 billion.

EPS on a GAAP basis was $0.70, down from $0.80 in the year ago period.

EPS on a non-GAAP basis was $0.86, down from $0.87 in the year ago period.

For the first six months of fiscal 2009, net revenue fell 1.02% to $56.15 billion from $56.73 billion in the first half of fiscal 2008.

The results included special items that amounted to $382 million or $0.16 per share, which were related to amortization of purchased intangible assets, acquisition-related charges and restructuring charges

Excluding special items, non-GAAP net income for the second quarter was $2.1 billion or $0.86 per share, compared to $2.2 billion or $0.87 per share in the prior year quarter.

The GAAP and non-GAAP earnings per share include $0.02 for charges relating to a patent dispute.

Analysts had been looking for the company to earn $0.86 per share excluding special items, in the period.

GAAP operating margin in the period fell to 8.4% from 9.2% a year ago, with non-GAAP operating margin increasing to 10.4% from 10.0% last year.

For the full fiscal 2009, Hewlett Packard maintains that it will earn an adjusted profit of $3.76 to $3.88 a share, but expects revenue to decline 4-5% compared to full year 2008.

The stock closed at $36.58, up $0.85, a 2.38% gain, but is down 5% or $1.83 in after hours trading on the news.

May 19, 2009 | Filed Under Company News, Earnings | Leave a Comment 

Home Depot Reports 44% Rise in 2009 Q1 Earnings

Tuesday May 19, 2009
Navivest

Home Depot (HD) today reported a profit of $514 million or $0.30 per share in its fiscal 2009 Q1 period that ended May 3, 2009, a gain of 44% when compared to the Q1 2008 period.

Despite reporting lower sales, the earnings were better than Wall Street forecasts of $0.29 per share. In the Q1 2008 period, the company earned $356 million, or 21 cents per share.

Home Depot reported adjusted profit, which excludes results from the company’s now closed Expo business, of $0.35 cents per share, down from adjusted profit of $0.41 cents in the year ago period. Home Depot announced back in January that it is shutting down its 34 Expo Design Centers.

Revenue for the period came in at $16.18 billion, which was ahead of forecasts of $15.86 billion, but down 10% from revenue in the same period a year ago.

Same store sales, or year over year comparisons for stores open at least a year, fell 10.2% globally, 8.6% in the U.S.

The company also reported that the number of transactions during the quarter, fell 1.3%, with the average purchase dropping 8.2% to $52.67.
Home Depot maintained its guidance of a drop of 7% in full-year earnings from continuing operations, with revenues expected to fall 9%.

At the end of the Q1 period, the company reported a total of 2,238 retail stores.

May 19, 2009 | Filed Under Company News, Earnings | Leave a Comment