Today was a busy day on the earnings calendar so I wanted to provide readers a quick summary of some of the notable earnings releases.
Earnings review for October 23
- United Parcel Service (NYSE:UPS) UPS met analysts expectations and slightly adjusted their forward earnings estimates higher. The company is seeing strong growth internationally.
- The Western Union Company (NYSE:WU) Western Union beat analysts expectations by 2 cents per share and said that robust international sales should continue to help the company going forward.
- Aflac Inc. (NYSE:AFL) Aflac reported 85 cents per share versus estimates for 82 cents per share. The company said high income premiums in the United States fueled these positive results.
- Amazon.com Inc. (Nasdaq:AMZN) Amazon beat analysts estimates by a penny, but their quarterly results showed a drop in margins, which concerns a lot of investors. The stock is trading much lower in the after hours session.
- Panera Bread Company (Nasdaq:PNRA) The restaraunt chain reported a third quarter profit of 37 cents, up from last year. The real downer though was that the company expects fourth quarter earnings to be below wall street expectations due to profit margin problems.
- Novellus Systems Inc. (Nasdaq:NVLS) Novellus reported 41 cents per share, 3 cents better than the average analysts estimate. The company said the business continues to be in a state of flux in their industry.
- AT&T (NYSE:T) AT&T saw its third quarter profits rise 13% year over and came in right at the average analyst estimate of 71 cents per share. The wireless business at AT&T is the real growth driver right now.
Tommorrow is another huge day of earnings so I will provide another review tommorrow evening.
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