A number of big-name dividend stocks reported earnings on Wednesday before the opening bell. Check out our run-down of their quarterly reports below.
Comcast Q3 Profits Decline, Beats Estimates
Comcast Corporation (CMCSA
) reported third quarter earnings of $1.732 billion, or 65 cents per share, down from $2.113 billion, or 78 cents per share, last year. Excluding special items, CMCSA’s earnings rose 41.3% to 65 cents, from 46 cents last year. On average, analysts estimated earnings of 63 cents per share. Revenue dipped to $16.15 billion, from $16.54 billion last year.
Corning Q3 Earnings Fall
Corning Incorporated (GLW) posted Q3 earnings of $408 million, or 28 cents per share, down from $533 million, or 36 cents per share, last year. Core earnings for the quarter were $487 million, or 33 cents per share. Analysts, on average, estimated earnings of 32 cents per share. Net sales were up to $2.07 billion, from $2.04 billion a year ago, while core sales rose to $2.11 billion, from $1.92 billion. Analysts expected to see earnings of $2.09 billion.
Diebold Beats Q3 Estimates, CFO to Leave Company
Diebold Incorporated (DBD) reported third quarter earnings of 56 cents per share, above the average analyst estimate of 42 cents per share. Total revenue for the quarter was $705.42 million. Analysts expected to see revenue of $687.31 million. DBD also announced that its executive vice president and chief financial officer Bradley C. Richardson will be leaving the company effective November 6.
Jones Group Beats Estimates, Declares Dividend
The Jones Group Inc. (JNY) recorded third quarter profits of $29.3 million, or 38 cents per share, up from $17.4 million, or 22 cents per share, a year ago. Excluding special items related to charges, the company’s earnings were 48 cents per share, down from 57 cents per share last year. Analysts expected to see adjusted earnings of 42 cents per share. Revenue dropped slightly to $1.02 billion, from $1.04 billion last year, and missed analysts’ estimate of $1.04 billion. JNY has also declared its next quarterly dividend of 5 cents per share. The dividend will be paid on November 29 to shareholders of record on November 15.
Phillips 66 Q3 Profits Fall 67%
Phillips 66 (PSX) reported third quarter earnings of $535 million, or 87 cents per share, down 67% from $1.6 billion, or $2.51 per share, in the third quarter of 2012. Analysts expected to see earnings of 94 cents per share. The company said that its refining unit saw a loss of $2 million, compared to net income of $1.5 billion a year ago.
Garmin Earnings Rise, Lifts Outlook
Shares of Garmin Ltd. (GRMN) soared on Wednesday morning following the release of the company’s Q3 results. GRMN reported earnings of $187.67 million, or 96 cents per share, from $140.35 million, or 72 cents per share, last year. Earnings from the latest quarter came in well above analysts’ estimate of 59 cents per share. Total revenue for the quarter was $644 million, beating analysts’ view of $628.85 million. Looking forward, the company expects to see full year earnings between $2.40 and $2.45 per share. Previously, the company reported that it expected to see earnings between $2.30 and $2.40 per share. Analysts are expecting earnings of $2.41 per share.
Hess Q3 Earnings Fall Below Estimates
Hess Corp. (HES) shares were down on Wednesday morning after the company reported a 25% decline in third quarter profits. The company reported earnings of $420 million, or $1.23 per share, down from $557 million, or $1.64 per share, last year. Adjusted earnings were $405 million, or $1.18 per share, below analysts’ estimate of $1.44 per share. Revenue for the quarter fell to $2.70 billion from $3.49 billion in the third quarter of last year. Analysts estimated revenue of $2.67 billion. Looking forward, HES expects to see full year production in the lower end of 340,000 to 355,000 barrels of oil equivalent per day.
Automatic Data Processing Earnings Rise
Automatic Data Processing (ADP) posted third quarter net income of $328.6 million, or 68 cents per share, up from $305.3 million, or 63 cents per share, last year. Earnings from continuing operations were $302.5 million, or 62 cents per share. Analysts expected to see earnings of 66 cents per share. Revenue rose 8% to $2.84 billion from $2.64 billion last year and came in above analysts’ estimates of $2.81 billion.
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