U.S. equities were mixed yesterday as they had some mid-day gains, with coal and oil equipment stocks rising 2.4% and 2.2%, respectively. The S&P 500 Index edged up 0.1%, the Dow Jones Industrial Average gained 0.7% and the Nasdaq Composite gave back 0.1%.
Edison International (EIX)
Edison International shares were rising following the company’s latest quarterly results.
The public utility company unveiled a loss of $515 million for its fourth quarter of fiscal 2017, which was below the profit it posted in the year-ago quarter. The figure amounted to a loss of $1.66 per share.
On an adjusted basis, Edison International brought in earnings of $1.10 per share. The figure was well above the Wall Street consensus estimate as Zacks Investment Research surveyed six analysts and compiled a projection of 93 cents per share.
Revenue for the quarter was $3.22 billion. For its fiscal year, Edison International brought in profit of $689 million, amounting to about $1.72 per share. Revenue came in at $12.32 billion.
EIX stock gained 2.6% after hours Thursday.
Eversource Energy (ES)
Eversource Energy posted in-line earnings in its latest earnings report.
For its fourth quarter, the utility holding company posted a bottom line of $240 million, or 75 cents per share, topping the year-ago total of $230 million, or 72 cents per share. Analysts were calling for adjusted earnings of 75 cents per share, according to Thomson Reuters.
Eversource Energy also brought in revenue of $1.9 billion, a 6.7% surge compared to the year-ago revenue of $1.78 billion. The company said it forecasts 2018 earnings to be in the range of $3.20 to $3.30 per share.
“We were pleased with our 2017 performance, a year our customers received industry leading levels of reliable service, our employees achieved record safety performance, and our investors experienced very solid increases in dividends and earnings,” said Jim Judge, Eversource Energy chairman, president and CEO.
ES stock was flat after the bell.
Intuit Inc. (INTU)
Intuit posted its latest quarterly results late Thursday, sending shares down on a weak guidance.
The business and financial solutions management company announced a second-quarter loss of $21 million, or 8 cents per share, below the year-ago net income of $13 million, or 5 cents per share.
Adjusted earnings came in at 35 cents per share for Intuit, topping analysts’ expectations of 34 cents per share, according to data compiled by FactSet. Revenue came in at $1.17 billion, topping the $1.02 billion from a year ago and beating the Wall Street consensus estimate of $1.16 billion, per FactSet.
For its third quarter of fiscal 2018, Intuit sees adjusted earnings as being in the range of $4.57 to $4.62 per share, which is well below the Wall Street outlook of $4.68 per share. The company sees revenue in the range of $2.79 billion to $2.84 billion, above the $2.75 billion that analysts are calling for.
INTU stock declined 3.8% after the bell Thursday.
As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.