>>> Colgate-Palmolive beats by $0.01, reports revs in-line

Colgate-Palmolive beats by $0.01, reports revs in-line

Reports Q4 (Dec) earnings of $0.75 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus Estimate of $0.74; revenues rose 1.7% year/year to $4.36 bln vs the $4.39 bln consensus.

Net income in fourth quarter 2013 excluded $0.15 per diluted share of after tax charges resulting from the implementation of the previously disclosed four-year Global Growth and Efficiency Program, a charge associated with an existing European competition law matter and costs associated with the sale of land in Mexico.

Key metrics:
  • Global unit volume grew 6.5%, pricing was even with the year ago quarter and foreign exchange was negative 4.5%.
  • Organic sales (Net sales excluding foreign exchange, acquisitions and divestments) grew 6.5%.
  • Gross profit margin was 59.1% in fourth quarter 2013, an increase of 50 basis points versus the year ago quarter, as cost savings from the Company's funding-the-growth initiatives more than offset higher raw and packaging material costs which included the impact of foreign exchange transaction costs.
Regional
North America (18% of Company Sales)
  • North America Net sales increased 2.5% in fourth quarter 2013. Unit volume increased 4.0% with 1.0% lower pricing and 0.5% negative foreign exchange. Organic sales increased 3.0% during the quarter.
Latin America (29% of Company Sales)
  • Latin America Net sales increased 1.0% in fourth quarter 2013. Unit volume increased 10.0% with 2.5% higher pricing and 11.5% negative foreign exchange. Volume gains were led by Venezuela, Brazil, Mexico and Colombia. Organic sales for Latin America increased 12.5% during the quarter.
Europe/South Pacific (19% of Company Sales)
  • Europe/South Pacific Net sales decreased 0.5% in fourth quarter 2013. Unit volume increased 2.5% with 4.5% lower pricing and 1.5% positive foreign exchange. Excluding divested businesses, unit volume increased 3.0%. Volume gains in the United Kingdom, Australia and Poland more than offset volume declines in France and Germany. Organic sales for Europe/South Pacific decreased 1.5%.
Asia (14% of Company Sales)
  • Asia Net sales increased 4.5% during fourth quarter 2013. Unit volume increased 10.5% with 1.5% lower pricing and 4.5% negative foreign exchange. Volume gains were led by the Greater China region, India and the Philippines. Organic sales for Asia increased 9.0%.
Hill's Pet Nutrition (13% of Company Sales)
  • Hill's Net sales increased 4.5% during fourth quarter 2013. Unit volume increased 4.0% with 3.0% higher pricing and 2.5% negative foreign exchange. Volume gains in the U.S., Russia and Canada were partially offset by volume declines in Japan. Hill's organic sales increased 7.0%.
Outlook:
"As we look ahead to 2014, based on the Company's current growth momentum and our confidence in the strength of our global growth and efficiency program, we are planning for a year of gross margin expansion and strong earnings per share growth in line with the consensus of external analyst estimates, excluding charges related to the 2012 Restructuring Program. This takes into account recent movements in foreign exchange rates but excludes the impact of the recent economic announcements in Venezuela, which we are still evaluating."

>>> Blackstone beats Q4 ests wide a wide margin

Blackstone beats Q4 ests wide a wide margin

Reports Q4 (Dec) economic net income (ENI) of $1.35 per share, $0.52 better than the Capital IQ Consensus of $0.83; revenues rose 119.1% year/year to $2.69 bln vs the $1.82 bln consensus.

Distributable Earnings were $0.68/unit for the fourth quarter, driven by Realized Performance Fees and Realized Investment Income totaling $694 million. Fund activity generated $1.4 billion of Realized Performance Fees, up 126% for the year. Fee Related Earnings rose to $745 million driven by 18% growth in Fee-Earning Assets Under Management. Revenues were up 96% to $3.2 billion for 2013 generating a 107% increase in Economic Income to $2.1 billion. Overall carrying value of Real Estate Funds appreciated 13.1% for the quarter and 31.3% for the year Blackstone took advantage of improving equity markets to harvest gains driving.

>>> Pitney Bowes beats by $0.08, reports revs in-line; guides FY14 EPS in-line

Pitney Bowes beats by $0.08, reports revs in-line; guides FY14 EPS in-line, revs in-line (21.73)
Reports Q4 (Dec) earnings of $0.52 per share, excluding non-recurring items, $0.08 better than the Capital IQ Consensus Estimate of $0.44; revenues rose 1.6% year/year to $1.03 bln vs the $1.04 bln consensus.
  • Revenue for the quarter benefited from 17 percent growth on a reported basis and 18 percent growth on a constant currency basis in the Digital Commerce Solutions segment. Revenue also benefited from 3 percent growth in the Enterprise Business Solutions group. In the Small and Medium Business (SMB) Solutions group, revenue declined 3 percent on a reported basis and 2 percent on a constant currency basis. However, the decline was less than in prior years and reflected further stabilization in the SMB business.
2014 Guidance
  • Co issues in-line guidance for FY14, sees EPS of $1.75-1.90 vs. $1.80 Capital IQ Consensus Estimate; sees FY14 revs of approx $3.83-3.94 bln vs. $3.89 bln Capital IQ Consensus Estimate.
  • The Company expects to further align its business performance in 2014 with the strategy that was outlined at its 2013 Analyst Day. Also the Company expects that there will be no significant changes in the economic or postal environments in 2014 as compared to 2013.
  • Revenue growth improvement in Digital Commerce Solutions, benefiting from the continued growth in ecommerce and growth in software solutions;
  • Flat to modest revenue growth in Enterprise Business Solutions against a strong 2013 Production Mail comparable;
  • Continued moderation in the revenue decline in SMB Solutions as a result of improving trends in equipment sales and recurring revenue streams;
  • Ongoing reductions in SG&A costs, which are expected to more than offset incremental expenses associated with the investment in a new Enterprise Resource Planning (ERP) system;
  • Revenue, excluding the impacts of currency, to be in the range of a one percent decline to two percent growth when compared to 2013;
  • GAAP earnings per diluted share from continuing operations to be in the range of $1.75 to $1.90, which includes $0.10 per share in expenses related to the implementation of a new ERP system;
  • Free cash flow to be in the range of $475 million to $575 million.

>>> Northrop Grumman beats by $0.18, beats on revs; guides FY14 above consensus

Northrop Grumman beats by $0.18, beats on revs; guides FY14 above consensus

Reports Q4 (Dec) earnings of $2.12 per share, $0.18 better than the Capital IQ Consensus Estimate of $1.94; revenues fell 4.9% year/year to $6.16 bln vs the $5.99 bln consensus.

Co issues upside guidance for FY14, sees EPS of $8.70-9.00 vs. $8.52 Capital IQ Consensus Estimate; sees FY14 revs of $23.5-23.8 bln vs. $23.52 bln Capital IQ Consensus Estimate.

Total backlog as of Dec. 31, 2013, was $37.0 billion compared with $40.8 billion as of Dec. 31, 2012. The decline in backlog was primarily due to reductions and delays in customer awards resulting from the current U.S. government budget environment as well as Information Systems backlog adjustments of $1.0 billion in the first half of the year, primarily to reduce unfunded backlog for expired periods of performance on active contracts. Fourth quarter 2013 new awards totaled $5.7 billion, and book-to-bill was 92 percent. For 2013, new awards totaled $21.9 billion, and book-to-bill was 89 percent.

>>> Hershey Foods reports EPS in-line, beats on revs; guides FY14 in-line

Hershey Foods reports EPS in-line, beats on revs; guides FY14 in-line

Reports Q4 (Dec) earnings of $0.86 per share, in-line with the Capital IQ Consensus Estimate consensus of $0.86; revenues rose 11.7% year/year to $1.96 bln vs the $1.89 bln consensus.
  • Co issues in-line guidance for FY14, sees EPS of $4.05-4.13, excluding non-recurring items, vs. $4.10 Capital IQ Consensus Estimate, excluding net GAAP charges of about $7 million to $9 million, or $0.02 to $0.03 per share-diluted.
  • Sees 2014 net sales growth of 5-7%; current consensus represents +5.8% sales growth
  • Net sales will be driven primarily by core brand volume growth as well as innovation such as York Minis, Hershey's Spreads, Lancaster Soft Crèmes Caramels and Brookside Crunchy Clusters in the U.S., Hershey's Kisses Deluxe in China and the continued rollout of our five global brands in key international markets.

>>> ConocoPhillips beats by $0.08

ConocoPhillips beats by $0.08 

Reports Q4 (Dec) earnings of $1.40 per share, $0.08 better than the Capital IQ Consensus Estimate of $1.32.
Production from continuing operations for the fourth quarter of 2013 was 1,473 MBOED, a decrease of 93 MBOED compared with the fourth quarter of 2012. Preliminary year-end 2013 proved reserves are 8.9 billion barrels of oil equivalent (BOE), up 3 percent from 2012. Proved organic reserve additions are expected to be approximately 1.1 billion BOE, representing an organic reserve replacement ratio of 179 percent of 2013 production.
"2013 was a significant year for the company and we achieved several important, strategic milestones...We delivered on our non-core asset sales, progressed our growth programs, achieved conventional and unconventional exploration success, and increased our dividend. In addition, our capital program yielded strong organic reserve replacement, which demonstrates the quality and potential of our asset base. These accomplishments position us to meet our unique combination of 3 to 5 percent volume and margin growth with a compelling yield. We are set for an exciting year in 2014."
Outlook: The company expects to deliver 3 to 5 percent production growth in 2014. Excluding Libya, the company's 2014 full-year production outlook is unchanged at approximately 1,550 MBOED. First-quarter 2014 production from continuing operations is expected to be 1,490 to 1,530 MBOED, which excludes Libya.

(BFW) EU Rejects German Regulator’s Bid to Probe E-Plus Mobile Deal

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EU Rejects German Regulator’s Bid to Probe E-Plus Mobile Deal 2014-01-30 12:00:00.18 GMT

By Peter Chapman Jan. 30 (Bloomberg) -- The EU says it will continue to probe Telefonica Deutschland’s plan to purchase Royal KPN NV’s E-Plus unit after it rejected the German merger authority’s bid to take over the review. * European Commission says it’s “better placed to deal with the case because of its experience in assessing mergers in the mobile telecommunications sector and the need for a consistent application of the merger control rules in the EU,” according to e-mailed statement today * SEE: Germany Renews Bid to Probe E-Plus Mobile-Phone Deal {NSN MZ55T06S973B <go>}

Link to Company News:{KPN NA <Equity> CN <GO>} Link to Company News:{KPNM NA <Equity> CN <GO>} Link to Company News:{O2D GR <Equity> CN <GO>} Link to Company News:{TEF SM <Equity> CN <GO>}

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To contact the reporter on this story: Peter Chapman in Brussels at +32-2-285-4318 or pchapman10@bloomberg.net

To contact the editor responsible for this story: Andrew Clapham at +32-2-285-4302 or aclapham@bloomberg.net

>>> Viacom beats by $0.04, misses on revs

Viacom beats by $0.04, misses on revs

Reports Q1 (Dec) earnings of $1.20 per share, $0.04 better than the Capital IQ Consensus of $1.16; revenues fell 3.5% year/year to $3.2 bln vs the $3.32 bln consensus.

Media Networks revenues rose 6% to $2.54 billion, driven by increases in affiliate fees and advertising revenues. Affiliate revenues grew 10% on a domestic and worldwide basis, primarily due to rate increases. Domestic advertising revenues increased 3% due to favorable ratings trends. Worldwide advertising revenues increased 4% to $1.33 billion in the quarter. Filmed Entertainment revenues declined 30% to $681 million. Theatrical revenues decreased 52% from the prior year, due to fewer titles released in the quarter and lower carryover revenues. Home entertainment revenues declined 37%.

Operating income rose 20% to $960 million, representing improved operating results across the company. For the quarter ended December 31, 2013, Viacom repurchased 10.3 million shares under its stock repurchase program, for an aggregate purchase price of $850 million.

(BFW) Daimler’s Renschler Won’t Go to Rival in Near Term: Die Welt

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BN 01/30 11:32 *DAIMLER CEO SPEAKS TO DIE WELT ABOUT RENSCHLER'S CONTRACT BN 01/30 11:31 *DAIMLER'S RENSCHLER WON'T GO TO RIVAL IN NEAR FUTURE: DIE WELT

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Daimler’s Renschler Won’t Go to Rival in Near Term: Die Welt 2014-01-30 11:36:32.466 GMT

By Christoph Rauwald Jan. 30 (Bloomberg) -- Daimler CEO Zetsche says former manager Renschler’s contract won’t let him switch to Volkswagen or another competitor in the foreseeable future, Die Welt reported, citing an interview with Zetsche.

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To contact the reporter on this story: Christoph Rauwald in Frankfurt at +49-69-9204-1146 or crauwald@bloomberg.net

To contact the editor responsible for this story: Chad Thomas at +49-30-70010-6232 or cthomas16@bloomberg.net