Earnings Roundup

J.C. Penney Co JCP swung to a loss in the fiscal third quarter. J.C. Penney posted a quarterly loss of $143 million, or $0.67 per share, versus a year-ago profit of $44 million, or $0.19 per share, in the year-earlier period. Its sales fell 4.8% to $3.99 billion. On an adjusted basis, J.C. Penney's earnings came in at $0.11 per share. However, analysts were expecting earnings of $0.09 per share. J.C. Penney expects Q4 adjusted earnings in the range of $1.05 to $1.15 per share, versus analysts' estimates of $1.17 per share. Lowe's Cos LOW reported a decline in its Q3 net profit. Lowe's quarterly profit fell to $225 million, or $0.18 per share, from $404 million, or $0.29 per share, in the year-ago period. Its sales rose to $11.85 billion from $11.59 billion. Lowe's projects Q4 total sales to surge about 8% and earnings per share of between $0.20 and $0.23 per share. Vimpelcom Ltd VIP reported a drop in its third-quarter earnings. Vimpelcom's quarterly net profit declined to $104 million, versus analysts' estimates of $159 million. Its revenue gained 10% to $6.09 billion, versus analysts' estimates of $6.07 billion. Vimpelcom's earnings before interest, taxation, depreciation and amortisation (EBITDA) gained 4% to $2.54 billion. Brigus Gold Corp BRD reported a Q3 profit, but lowered its production forecast for the current quarter. Brigus Gold reported its quarterly profit at $12.4 million, or $0.06 per share, versus a year-ago loss of $4.5 million, or $0.03 per share. Its revenue from the sale of gold dropped 19% to $19.3 million. Brigus Gold cut its Q4 production forecast to 17,000 to 18,000 ounces, versus its previous view of 19,500 ounces. Dynegy Inc DYN reported a wider Q3 loss on Monday. Dynegy reported a quarterly net loss of $75 million, or $0.61 per share, versus a year-ago loss of $24 million, or $0.20 per share. Dynegy's revenue dropped 33% to $516 million. Hochtief AG HOCFY reported an 81% rise in its Q3 net income. Hochtief's quarterly consolidated profit surged to 98.7 million euros ($135.8 million), versus €54.6 million, in the year-ago quarter. Bank Pekao SA BKPKF reported a 16% rise in its third-quarter consolidated net profit. Bank Pekao's quarterly net profit rose to 766.3 million zlotys ($240 million), from PLN659.7 million, in the year-ago period, versus analysts' estimates of PLN729 million. Bank Pekao's net interest income gained 14% y/y to PLN1.17 billion, versus analysts' estimates of PLN1.16 billion. Bank Pekao's retail loan portfolio surged to PLN35.74 billion. Lonmin PLC LNMIY reported a rise in its net profit for the 12 months ending Sept. 30. Lonmin's net profit attributable to shareholders for the period surged to $273 million, from $112 million, in the year-ago period. Lonmin's earnings before interest, taxes, depreciation and amortization (EBITDA) climbed to $431 million, from $337 million in the 2010 financial year. Its revenue gained to $1.99 billion from $1.59 billion. Dai-ichi Life Insurance Co reported a drop in its net profit during the April-September period. Dai-ichi Life Insurance's net profit dipped 58% to Y12.36 billion, from Y29.44 billion, in the year-ago period. Its revenue climbed 9.2% to Y2.470 trillion from Y2.263 trillion. Tingyi (Cayman Islands) Holding Corp TCYMY reported a 35% decline in its third-quarter net profit. Tingyi's quarterly net profit dropped to US$130.6 million, from US$200.5 million. Excluding a one-time gain in 2010, Tingyi's net profit dropped 1%. Its revenue climbed 6.7% to US$2.20 billion from US$2.07 billion. Sun Pharmaceutical Industries Ltd reported a 19% rise in its Q2 net profit. Sun Pharmaceutical's quarterly net profit climbed to INR5.98 billion, from INR5.04 billion, in the year-ago period. Its sales surged 42% to INR18.95 billion from INR13.31 billion. Sun Pharmaceutical's non-operating income jumped to INR765.4 million from INR555.9 million. Analysts were expecting a net profit of INR5.05 billion on sales of INR17.63 billion. United Co Rusal PLC reported a surge in its third-quarter net profit. Rusal's quarterly net profit surged to US$432 million, based on international accounting standards, from US$29 million, in the year-ago period. However, analysts were expecting a net profit of US$386.6 million. Rusal's quarterly adjusted earnings before interest, taxes, depreciation and amortization climbed 25% to $705 million, from $564 million, in the year-ago period. Incitec Pivot Ltd ICPVY reported a 12.8% surge in its net profit for the fiscal year ended September 30. Incitec Pivot's net profit for the period rose to A$463.2 million, from A$410.5 million. Its revenue climbed 33% y/y to A$3.91 billion from A$2.93 billion. Barloworld Ltd BRRAY reported upbeat full-year profit. Barloworld's diluted headline earnings per share for the period rose to 461.2 cents, from 170.3 cents, in the year-ago period. However, analysts were expecting earnings of 428.8 cents. Barloworld's sales surged 22% to 49.8 billion rand ($6.3 billion). Mitsubishi UFJ Financial Group MIUFY reported a 95.1% surge in its net profit for the April-September first half and lifted its full-year profit outlook. MUFG's net profit for the period surged to 696.09 billion yen ($9.03 billion), from 356.78 billion yen, in the year-ago period. For the full year to next March, MUFG lifted its net profit view to 900 billion yen, versus 600 billion yen, versus analysts' estimates of 902.8 billion yen. GLG Life Tech Corp GLGL posted a loss in the third quarter. GLG Life Tech posted a quarterly net loss at C$24.6 million, or 74 Canadian cents per share, versus a year-ago net income of C$1.8 million, or 6 Canadian cents per share. GLG Life Tech's revenue dipped 92% to C$1.7 million. Ormat Industries posted a loss in the third quarter. Ormat Industries reported a quarterly net loss of $1 million, versus a year-ago net profit of $12.2 million. Its revenue climbed to $110.8 million from $102.3 million. Tata Motors Ltd TTM reported a 16% decline in its consolidated quarterly net profit. Tata Motors' quarterly profit fell to INR18.77 billion, from INR22.23 billion, in the year-ago period. However, analysts were expecting a profit of INR20.24 billion. Tata Motors' sales surged to INR359.38 billion from INR283.10 billion. Benetton Group SpA BNGPY reported a drop in its third-quarter net profit. Benetton's quarterly net profit declined to EUR31 million, from EUR47 million, in the year-ago period. Its revenue dropped to EUR575 million from EUR606 million. Nevsun Resources Ltd swung to a third-quarter profit. Nevsun posted its quarterly net income at $89 million, or $0.27 per share, versus a year-ago loss of $1 million, or $0.01 per share. Nevsun's revenue came in at $185 million.