Morning Analysis: DRQ; NRG; BSFT

FB Nasdaq FB Facebook

Dril-Quip, Inc. (NYSE:DRQ), which makes engineered offshore drilling and production equipment, said net income rose to $47.1 million, or $1.15 per diluted share, from $31.0 million, or $0.76 per diluted share, beating analysts’ estimates by one cent, according to Capital IQ.

The company said the Q4 results for 2013 results were hit by an after-tax foreign exchange loss of $2.3 million, or $0.06 per diluted share, as compared to an after-tax foreign exchange loss of $0.7 million, or $0.02 per diluted share, a year ago.  Total revenues rose 23% to $232.5 million, driven by product sales. That’s just shy of estimates for $233 million.

The company expects its earnings per diluted share for 2014 to be about $5.00 to $5.20 and its 2014 first quarter earnings per diluted share to approximate $1.10 to $1.20. That’s below the $5.42 expected by analysts for 2014 and the $1.22 forecast for Q1.

NRG Energy (NYSE:NRG) reported that it slipped into a loss in 2013 from a profit the year earlier.

The power generation and retail electricity company said its 2013 net loss was $1.22 per diluted share compared to a profit of $1.22 the year earlier. No analyst estimate was available for comparison. Meanwhile, sales rose to $11.3 billion from $8.4 billion, beating the $10.8 billion consensus estimate. The net loss attributable to shareholders total ed $395 million compared to the a profit of $286 million a year ago.

Meanwhile, NRG reaffirmed its guidance for adjusted EBITDA of $2.7 billion to $2.9 billion in 2014.

Internet protocol-based communications-services provider BroadSoft (BSFT) reported Q4 results above analysts’ expectations but forecast adjusted earnings per share for Q1 and 2014 well below Street estimates.

Q4 net income fell to $512,000, or $0.02 per share, from $4.9 million, or $0.17 per share. Excluding one-time items, the company earned $0.47 per share in the latest period, down from $0.48 per share a year earlier but above analysts’ mean estimate of $0.42 per share, according to Capital IQ.

Total revenue climbed 13% to $52 million, topping analysts’ mean estimate of $50.1 million.  For Q1, the company forecast revenue of $42 million to $46 million and adjusted EPS of $0.01 to $0.12, with most of the revenue forecast coming in below analysts’ consensus of $46 million and the EPS guidance well below the Street view of $0.30.

For 2014, it expects revenue of $206 million to $212 million and adjusted EPS of $1.26 to $1.46, with the revenue view above analysts’ mean estimate of $205 million but the EPS guidance below the Street consensus of $1.53.

Shares were down 3% in recent pre-market trading after closing Thursday at $30.88, in a 52-week range of $20.45 to $37.93.

Signup for free to be the first to receive exclusive free links. Now in your mailbox!
Join over 15,000 subscribers
Send me links

Your information will not be shared to anyone