Q4 2013 Earnings Scorecard: Commodity Stock Hits and Misses

2013′s fourth quarter earnings season saw companies across all sectors reporting both hits and misses. Alcoa set the tone for the commodity space, reporting a fourth quarter net loss of $2.3 billion and missed analysts’ EPS estimates. While other commodity stocks also managed to post better-than-expected results, some showed signs of weakness from 2013′s commodity slump. Overall, most companies managed to post better-than-expected earnings during the fourth quarter as compared to the third [for more commodity news and analysis subscribe to our free newsletter].

With the majority of companies already done reporting their quarterly results, we take a close look at how well (or how poorly) the commodity producer industry did:

Beating Analyst ExpectationsEarnings

  • Monsanto (MON): This agribusiness giant beat estimates, posting revenue of $3.143 billion and EPS of $0.69.
  • Halliburton (HAL): This oil and gas reported an EPS of $0.93 for the quarter and revenues of $7.64 billion [see also 25 Ways To Invest In Crude Oil].
  • Caterpillar (CAT):  CAT reported revenues of $14.402 billion and earnings of $1.54 per share.
  • Phillips 66 (PSX): This energy company reported its fourth quarter earnings, posting an increase in earnings from last year’s Q4, and beating analyst estimates.
  • Marathon Petroleum Corp (MPC): This oil company reported EPS of $2.10 and revenues of $24.93 billion.
  • Valero Energy (VLO): This oil refiner reported earnings of $2.38 per share. Total revenues came in at $34.49 billion, beating estimates of $30.85 billion.
  • ConocoPhillips (COP): This oil giant posted an EPS of $2.00 and revenues of $13.99 billion.
  • Occidental Petroleum (OXY): This company reported earnings of $1.72 per share, above estimates of $1.70. Revenues beat expectations, coming in at $6.17 billion.
  • British Petroleum (BP): This oil and gas giant reported earnings of $0.90 per share, above analyst estimates of $0.89. Revenues came in at $93.72 billion.
  • Nucor Corp (NUE): This steelmaker reported EPS of $0.46 and revenues of $4.89 billion.
  • Dow Chemical (DOW): The basic materials firm reported earnings of $0.65 per share and revenue of $14.4 billion.

Mixed Results

  • Schlumberger Ltd. (SLB): This oil giant reported EPS in line with estimates, though revenues missed the mark, coming in at $11.91 billion.
  • Freeport McMoran (FCX): This copper miner beat EPS estimates, but reported revenues of $5.9 billion – below the consensus estimate of $6.39 billion.
  • United States Steel Corp. (X): This steel company topped earnings estimates but missed revenues.
  • Exxon Mobil (XOM): This oil giant beat reported lower earnings of $1.91 per share, which were in-line with expectations.
  • Peabody Energy Corp (BTU):  This coal miner posted EPS of $0.00, above analyst expectations. Revenues came in at $1.74 billion versus the estimate of $1.77 billion.

Missing The Mark

  • Royal Gold (RGLD): This gold miner missed EPS estimates by $0.07. Revenues also missed the mark, coming in at $52.79.
  • NuStar Energy LP (NS): This MLP missed EPS estimates by $0.14. Revenues came in at $785.39 million versus the expected $842.5 million.
  • Marathon Oil Corporation (MRO): This oil company reported EPS of $0.60, below estimates of $0.17. Revenues came in lower than estimates, at $3.29 million [see  Fracking: The Modern Day Gold Rush].
  • Weyerhaeuser Co (WY): This bellwether timber firm reported earnings of $0.27 per share, below estimates of $0.28. Revenues also missed, coming in at $2.26 billion.
  • Chevron Corporation (CVX): This oil company reported earnings of $2.57 per share. Revenues were reported at $54 billion, below estimates of $63.14 billion.

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Disclosure: No positions at time of writing.

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