Three Earnings Reports This Morning

Today is a big earnings day for us. We had three Buy List earnings reports before the bell and another two will come after the close.

Let’s start with Hershey (HSY). The chocolate folks reported earnings of $1.61 per share. That beat Wall Street by a penny per share.

It was a good quarter, but guidance was disappointing. Hershey didn’t change its full-year guidance of $5.68 to $5.74 per share. That implies Q4 earnings of $1.18 to $1.24 per share. Wall Street had been expecting $1.27 per share. I expected a better outlook considering the results.

Raytheon (RTN) had a great Q3. The defense company made $3.08 per share which was 22 cents better than estimates. Overall sales rose 9.4% to $7.45 billion.

Raytheon also boosted its full-year range to $11.70 – $11.80. The previous range was $11.50 to $11.70.

“Raytheon delivered strong bookings, sales growth, EPS and cash generation in the third quarter,” said Thomas A. Kennedy, Raytheon Chairman and CEO. “Bookings strength across our broad portfolio of proven technology solutions positions the company well for future growth.

Danaher (DHR) reported Q3 earnings of $1.16 per share. That was a penny better than estimates. For Q4, Danaher sees earnings ranging between $1.32 and $1.35 per share. That works out to full-year earnings of $4.74 to $4.77.

Thomas P. Joyce, Jr., President and Chief Executive Officer, stated, “We are pleased by our strong third quarter performance as we delivered another quarter of 5% core revenue growth and solid margin expansion. We believe our ongoing investments in innovation and commercial initiatives helped to continue building sustainable competitive advantages across a number of our businesses.”

AFLAC and Cerner are due out after the close.

Posted by on October 24th, 2019 at 1:51 pm


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