3 Stocks to Watch on Wednesday: American Water Works Company Inc (AWK), Concho Resources Inc (CXO) and Texas Roadhouse Inc (TXRH)

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U.S. equities were hit hard Tuesday as the afternoon experienced a sell-off and consumer staples declined 2.3%. The S&P 500 Index lost 0.6%, the Dow Jones Industrial Average 1% and the Nasdaq Composite fell 0.1%.

3 Stocks to Watch on Wednesday: American Water Works Company Inc (AWK), Concho Resources Inc (CXO) and Texas Roadhouse Inc (TXRH)American Water Works Company Inc (NYSE:AWK), Concho Resources Inc (NYSE:CXO) and Texas Roadhouse Inc (NASDAQ:TXRH) all reported their quarterly earnings results late Tuesday.

Here’s how they did:

American Water Works Company Inc (AWK)

American Water Works Company announced fourth-quarter results that topped expectations yesterday.

The public utilities company unveiled a quarterly loss of $1 million, or 1 cent per share, below the year-ago profit. On an adjusted basis, the company earned 69 cents per share, beating the Wall Street consensus estimate of 66 cents per share, according to Zacks Investment Research.

On the revenue front, American Water Works missed expectations as the company raked in $821 million. Analysts polled by Zacks were calling for revenue of $835 million.

For the year, the company earned $436 million, or $2.38 per share, while revenue was $3.36 billion. American water Works forecasts its full-year earnings to be in the range of $3.22 to $3.32 per share for its fiscal 2018.

AWK stock was flat after hours Tuesday.

Concho Resources Inc (CXO)

Concho Resources announced its latest results yesterday as well.

The company reported net income of $267 million during its fourth quarter, or $1.79 per share. On an adjusted basis, the company earned $98 million, or 66 cents per share, ahead of the 46 cents per share analysts projected.

For the fiscal year, Concho Resources had a net profit of $956 million, or $6.41 per diluted share. Its adjusted net income for the year was $311 million, or $2.09 per share.

The oil and natural gas company saw its average daily crude production over the quarter increase 30% to 130,000 barrels per day. The figure was ahead of the high-end of the company’s outlook.

For its fiscal year 2018, Concho Resources sees a production growth of 20%, a total production growth of 16% to 20%, while capital spending is slated to be between $1.9 billion to $2.1 billion, up from $1.7 billion in 2017.

CXO stock was flat after the bell.

Texas Roadhouse Inc (TXRH)

Texas Roadhouse’s shares fell despite an earnings beat.

During its fourth quarter, the restaurant chain announced earnings of $28.6 billion, or net income of 40 cents per share. The figure came in ahead of the 37 cents per share that analysts polled by Zacks guided.

Texas Roadhouse saw its revenue surge to $545.1 million, ahead of the $544.2 million that Zacks expected. Its full-year profit was $131.5 million, or $1.84 per share, while revenue was $2.22 billion.

The company’s same-store sales rose 5.8% during the quarter at company restaurants, as well as gaining 4.7% at domestic franchise restaurants. The Texas Roadhouse board increased its shareholders’ dividend by 19% to 25 cents.

The chain’s comparable sales at company restaurants for its first quarter are already up 4.75%, and the company predicts that this figure will be positive for the fiscal year.

TXRH stock declined 4.7% after hours Tuesday.

 

As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2018/02/3-stocks-watch-wednesday-american-water-works-company-inc-awk-concho-resources-inc-cxo-texas-roadhouse-inc-txrh/.

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