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Earnings Data Deluge

Zacks Equity Research

Capping off the first week of “unofficial” earnings season, we hear from several companies from a wide range of industries. The good news is that most of the Q2 earnings results this morning were solid, though — like the full week of mostly strong reports marked notably by Netflix’s NFLX subscriber miss — there were some laggards.

American Express AXP posted a 2-cent beat on Q2 earnings, to $2.07 per share. This was better than the $1.85 per share reported in the year-ago quarter. Revenues of $10.84 billion beat estimates as well, though only slightly. This is the third quarter in the last four where AmEx has outperformed expectations. We are seeing a little selling on the news in today’s pre-market; AmEx shares had risen nearly 35% year to date. 

BlackRock (BLK, on the other hand, came up short of estimates on both top and bottom lines this morning: $6.41 per share on $3.52 billion in revenues were slightly below the $6.52 and $3.55 billion expected, respectively. These numbers are down 3.8% year over year on earnings and -2.2% on the revenue side. Acquisitions and expansion initiatives in the quarter were behind the misses; the investment firm expects to make its full-year guidance numbers. 

The world’s largest oilfield services company, Schlumberger (SLB, met expectations for 35 cents per share in its Q2 earnings report ahead of today’s opening bell, while $8.27 billion in revenues beat estimates by 1.9%. Like with AmEx, Schlumberger has now posted a positive surprise in three of the last four quarters. 

Rail major Kansas City Southern KSU reported $1.64 per share in its Q2 release this morning, four cents ahead of expectations. Its $714 million in quarterly sales also topped the Zacks consensus, by 1.43%. These are also improvements over the $1.54 per share and $682.4 million reported in the year-ago quarter, and marks only the second time in the last four quarters Kansas City Southern has outperformed on earnings.

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