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DAILY EARNINGS

Eaton Vance Net Surges; Devon Energy Swings to Profit


Author: Mukesh Buch
ticker.com
Last Update: 11:20 AM ET February 19 2014

10:45 AM New York Coca-Cola fourth-quarter net slumped 8% to $1.7 billion. Duke Energy net in the year surged 51% to $2.7 billion. Genuine Parts fourth-quarter net dropped 6% to $151 million. Medtronic third-quarter net plunged 23% to $762 million. Waste Management fourth-quarter net swung to a loss $605 million.

Earnings Review

Devon Energy Corp (DVN), the energy company reported total revenue in the fourth-quarter ending in December grew 1.8% to $2.62 billion.

Net in the quarter swung to a profit $207 million or 51 cents a diluted share compared to a loss of $357 million or 89 cents.

Separately, today Devon has signed an agreement to sell the majority assets of Canadian conventional natural gas assets to Canadian Natural Resources Limited for C$3.125 billion or $2.8 billion. The transaction is expected to close early in the second quarter of this year.

Eaton Vance Corp (EV), the investment company said revenue in the first-quarter ending in January climbed 13.1% to $360.3 million.

Net income in the quarter soared 21.8% to $73.7 million or 56 cents a diluted share compared to $60.5 million or 38 cents.

Lithia Motors Inc (LAD), the automotive dealer reported total revenue in the fourth-quarter ending in December surged 16.8% to $1.02 billion. Total same store sales in the quarter climbed 11%.

Net income in the quarter soared 38% to $27.4 million or $1.04 a diluted share compared to $19.8 million or 76 cents.

The company added new vehicle same store sales in the quarter increased 11% and used vehicle retail same store sales jumped 16%. Service, body and parts same store sales increased 8%.

The new car dealer projected total revenue in the first-quarter in the range of $4.5 billion to $4.6 billion and diluted earnings per share between 92 cents and 94 cents.

Omnicare, Inc (OCR), the healthcare service provider stated net sales in the fourth-quarter ending in December jumped 5.1% to $1.54 billion.

Net in the quarter swung to a loss $83.7 million or 77 cents a diluted share compared to a profit of $59 million or 54 cents.

Omnicare expects revenue for the year to increase between 5% and 6.7% and earnings per diluted share in the range of $3.64 to $3.72.

Spirit Airlines Inc (SAVE), the airline company stated revenue in the fourth-quarter ending in December soared 27.9% to $420 million.

Net income in the quarter jumped 120.8% to $43.2 million or 59 cents a diluted share compared to $19.6 million or 27 cents.
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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc