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.

About Daniela Pylypczak

Daniela Pylypczak-Wasylyszyn is a regular contributor to CommodityHQ.com, where she primarily focuses on commodity producers equities. She is also an analyst for ETFdb.com, where she contributes articles and analysis each week. Since joining the team in 2011, Daniela has quickly grown to be one of the most widely-followed authors in the industry. Her articles are syndicated in a number of online publications, including Financial Advisor Magazine, Fidelity.com, and Yahoo! Finance. Daniela is also a contributor for TraderHQ.com and Dividend.com. Daniela graduated from DePaul University with a bachelor’s degree in finance and economics.
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Commodity HQ is not an investment advisor, and any content published by Commodity HQ does not constitute individual investment advice. The opinions offered herein are not personalized recommendations to buy, sell or hold securities or investment assets. Read the full disclaimer here.

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