Notable Earnings Reports: BA, MSI, LCC, XRX, GD
Wednesday, January 25, 2022 10:31 AM



The earnings calendar for Wednesday is also very busy as many companies reported their results ahead of the opening bell, while some more are scheduled to report their earnings either after the opening bell or after the closing bell. Some notable earners are discussed here.

The Boeing Company (NYSE: BA) today reported strong fourth quarter and full year FY 2011 financial results. For the quarter, Boeing reported revenues of $19.55 billion, up 18 percent from $16.55 billion in the same quarter last year. Net income for the quarter was $1.39 billion, or $1.84 per share, compared to $1.16 billion, or $1.56 per share in the fourth quarter FY 2010. For full year, the company reported revenues of $687.73 billion, up 7 percent from $64.3 billion in fiscal 2010. Net income for the year was $4.01 billion, or $5.34 per share, compared to net income of $3.3 billion, or $4.45 per share reported for FY 2010. The reported results beat Wall Street’s consensus estimate of $1.01 per share on revenues of $19.37 billion for the fourth quarter FY 2011. BA is trading lower by 0.85 percent to $74.72 a share on Wednesday.

Motorola Solution Inc. (NYSE: MSI) on Wednesday reported its fourth quarter and full year 2011 financial results ahead of the opening bell. The company reported sales of $2.3 billion, up 5 percent compared to sales of $2.18 billion in the fourth quarter FY 2010. For full year the company reported sales of $8.2 billion, up 8 percent from $7.6 billion in fiscal 2010. Motorola said that the strong revenue growth reflects solid demand in all regions across both the Government and Enterprise segments. Net income for the quarter was $184 million, or $0.54 per diluted share, compared to $292 million, or $0.49 per diluted share in the same quarter last year. For full year 2011, net income was $1.16 billion, or $2.20 per diluted share, compared to net income of $633 million, or $0.72 per diluted share in FY 2010. MSI last traded at $47.86 a share on Tuesday.

US Airways Corporation (NYSE: LCC) also reported its fourth quarter and full year 2011 financial results on Wednesday. The company reported total operating revenues of $3.15 billion for the fourth quarter FY 2011, compared to revenues of $2.9 billion in the fourth quarter FY 2010. Revenues for full year 2011 were $13.05 billion, up 9.6 percent from $11.9 billion in FY 2010. Net income for the quarter was $18 million, or $0.11 per diluted share, compared to net income of $28 million, or $0.44 per diluted shares in the same quarter last fiscal. For full year, net income was $71 million, or $0.44 per diluted share, compared to net income of $502 million, or $2.61 per diluted share in FY 2010. LCC is trading higher by 3.74 percent to $6.65 a share.

Xerox Corporation (NYSE: XRX) today reported fourth quarter FY 2011 net income of $383 million, or $0.26 per diluted share, compared to net income of $171 million, or $0.12 per diluted share in the fourth quarter FY 2010. Revenues for the quarter were $5.96 billion, marginally down from $5.97 billion in the same quarter last year. For full year, the company reported revenues of $22.6 billion, up 5 percent from $21.63 billion in FY 2010. Net income for fiscal 2011 was $1.3 billion, or $0.90 per diluted share compared to $606 million, or $0.43 per diluted share in fiscal 2010. The reported earnings for the quarter missed Wall Street’s consensus estimates of $0.33 per share on revenues of $6.07 billion. XRX is trading higher  by 0.92 percent to $8.75 a share in the pre-market trading today.

General Dynamics Corporation (NYSE: GD) today reported disappointing fourth quarter results, as its profit slips due to jet delays. For the fourth quarter FY 2011, the company reported revenues of $9.14 billion, up 6.3 percent compared to revenues of $8.6 billion in the fourth quarter FY 2010. Net income for the quarter was $603 million, or $1.69 per diluted share, compared to net income of $729 million, or $1.94 per diluted share in the same quarter last year. For full year, company’s revenues were $32.67 billion, up from $32.46 billion reported in FY 2010. Net income for the year was $2.56 billion, or $6.94 per diluted share, compared to net income of $2.62 billion, or $6.88 per diluted share in fiscal 2010. GD is trading lower by 1.53 percent to $70.25 a share in the pre-market trading on Wednesday.

 

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