Earnings Roundup

Deere & Co DE reported a 46% rise in its FQ4 profit on Wednesday. Deere's quarterly net income climbed to $669 million, or $1.62 per share, from $457 million, or $1.07 per share, in the year-ago period. However, analysts were expecting earnings of $1.47 per share. Deere's revenue surged 20% to $8.61 billion. For the year, Deere's net income came in at $2.8 billion, versus the company's estimates of $2.7 billion. Deere projects 2012 equipment sales to surge around 15%, and to climb 16% to 18% in the first quarter. It expects net income of around $3.2 billion. ReneSola Ltd SOL swung to a third-quarter loss and issued a weak fourth quarter forecast. ReneSola projects Q4 revenue of $140 to $150 million, versus analysts' estimates of $221.3 million. ReneSola posted a quarterly net loss of $8.2 million, or $0.09 per American Depositary Share (ADS), versus a year-ago profit of $60.1 million, or $0.70 per ADS. Its revenue dipped to $189.1 million. ReneSola lowered its 2011 capital spending budget by around 40% to $158 million. ReneSola projects total solar wafer and module shipments of 1.23 Gigawatts (GW) to 1.25 GW. Diana Shipping Inc DSX reported a drop in its third-quarter net income. Diana Shipping's quarterly net income declined to $26.4 million, from $33.8 million, in the year-ago quarter. Its earnings per share fell to $0.33 from $0.42. Time charter fell 10% to $64.2 million. However, analysts were expecting earnings of $0.32 per share on revenue of $62.35 million. Partner Communications PTNR reported a 44% drop in its third-quarter profit. Partner Communications' quarterly net profit declined to 172 million shekels ($46 million), from 309 million shekels, in the year-ago period. Its revenue gained 6% to 1.75 billion shekels. Partner Communications' earnings before interest, taxes, depreciation and amortisation (EBITDA) dipped 17% to 529 million. However, analysts were expecting earnings of 205 million shekels, EBITDA of 549 million shekels and revenue of 1.84 billion shekels. Yingli Green Energy Holding Co YGE swung to a Q3 loss and lowered its full-year photovoltaic module shipment forecast. Yingli Green posted a quarterly net loss of $28.3 million, or $0.18 per American Depositary Share (ADS), versus a year-ago profit of $68.2 million, or $0.44 per ADS. Excluding items, Yingli Green reported a profit of $0.14 per ADS. Its revenue surged 36% to around $667.7 million. Yingli Green lowered its 2011 module shipment view to 1,580 megawatts (mw) to 1,630 mw, versus its earlier forecast of 1,700 to 1,750 mw. New Jersey Resources Corp NJR reported a 4.9% rise in its FY11 net financial earnings per share. NJR reported its FY11 net financial earnings at $106.5 million, or $2.58 per share, up from $101.8 million, or $2.46 per share, in the year-ago period. NJR reported its Q4 net financial earnings at $675,000, versus a loss of $1.2 million, in the year-ago period. Johnson Matthey PLC JMPLY reported a 35% rise in its pretax profit for the six months ended Sept. 30 and lifted its dividend by 20%. Johnson Matthey's revenue for the period surged to GBP5.90 billion, from GBP4.56 billion, in the year-ago period. Its pretax profit rose to GBP195.1 million, from GBP144.1 million. Johnson Matthey's net profit attributable to owners of parent company climbed to GBP149.4 million from GBP104.7 million. Johnson Matthey's diluted EPS from continuing operations rose to 69.6 pence from 48.9. Its underlying EPS rose to 72.8 pence from 56.3 pence. QinetiQ Group PLC QNTQY swung to a half-year net profit. QinetiQ's net profit for the period came in at GBP66.6 million, versus a year-ago net loss of GBP42.1 million. Its revenue dropped 14% to GBP739.6 million from GBP864.9 million. Avon Rubber PLC AVNBF reported a rise in its full-year pretax profit and lifted its final dividend. Avon's revenue for the period fell 8% to GBP107.6 million. Its pretax profit rose to GBP10.2 million, from GBP7.1 million in 2010. However, analysts were expecting a pretax profit of GBP10.3 million. Daily Mail & General Trust PLC reported an increase in its earnings and revenue for the year ended Oct. 2. Daily Mail's revenue for the period gained 1% to GBP1.99 billion, from GBP1.97 billion, in the year-ago period, versus analysts' expectations of GBP1.99 billion. Its adjusted pretax profit climbed 3% to GBP237 million, from GBP230 million. United Utilities Group UUGWF reported a rise in its profit for the six months ended Sept. 30 and lifted its dividend. United Utilities' revenue for the period surged to GBP792.7 million, from GBP762.4 million, in the year-ago period. Its operating profit rose to GBP322.6 million from GBP311.5 million. United Utilities' pretax profit gained to GBP124.4 million from GBP122.2 million. Its diluted EPS rose to 20.7 pence from 19.5 pence. Compass Group PLC CMPGY reported an increase in its full-year profit. Compass Group's revenue for the period climbed 9.4% to GBP15.8 billion, from GBP14.5 billion, in the year-ago period. Its profit before tax rose to GBP958 million from GBP913 million.