Notable Earnings (WEC, ADM, ADP, AGCO)
Wisconsin Energy Corporation (NYSE:WEC) reported a first quarter profit of $172.1 million or $.74 per share, as compared to $170.9 million or $0.72 per share in the year ago period. Operating Revenues were $1.19 billion as against from $1.33 billion in the same period last year. Analysts expected the company to report earnings of $0.73 per share on revenues of $1.28 billion.
Going forward, the company reaffirmed its earnings guidance for calendar year 2012 in the range of $2.24 to $2.29 a share. Analysts expect earnings of $2.27 per share. The shares of the company gained 0.68% and closed at $36.84 in the previous trading session.
Archer Daniels Midland Company (NYSE:ADM) third quarter earnings declined 31% owing to a fall in the margins for ethanol and European oilseeds. The company posted a profit of $399 million, or $0.60 a share, as against $578 million, or $0.86 a share, a year earlier. Revenue increased 5.4% to $21.16 billion. Analysts were looking for earnings of $0.59 a share on revenue of $21.38 billion.
Gross margin fell to 4.8% from 5.8%. The stock of the company fell 0.80% and closed at $30.83 in yesterday’s trading session.
Automatic Data Processing (NASDAQ:ADP) stock fell 0.36% and closed at $55.62 in the previous trading session. The company posted third-quarter net earnings of $452.4 million from $423.8 million in the same quarter last year. Earnings per share were $0.92 from $0.85 a year ago. Revenues for the quarter increased to $2.92 billion from $2.74 billion in the same period last year. Analysts expected the company to report earnings of $0.91 per share on revenue estimate of $2.92 billion for the quarter.
AGCO Corporation (NYSE:AGCO) shares climbed 7.37% to $50 in the pre-market hour after the company reported first quarter net sales of $2.3 billion, an increase of 26.5% compared to net sales of $1.8 billion for the first quarter of 2011. Net income per share was $1.21 for the first quarter of 2012. Analysts expected the company to report earnings of $0.85 on revenue estimate of $2.05 billion.
Looking forward, the company expects FY 2012 earnings per share of $5.50 on revenue estimate of $10.2 billion to $10.5 billion, while analysts are expecting the company to report earnings of $5.07 per share on revenue of $9.91 billion.