H-P HPQ, +0.79% reported its fiscal first-quarter earnings fell to $1.37 billion, or 73 cents a share, from $1.43 billion, or 74 cents a share, in the year-earlier period. On an adjusted basis, H-P said it earned 92 cents a share, edging out analysts’ estimate of 91 cents a share. Revenue declined 5% to $26.8 billion, falling short of Wall Street’s forecast of $27.38 billion. H-P also cautioned that the impact of the firm dollar is more significant than expected and projected second-quarter adjusted earnings per share of 84 cents to 88 cents, reflecting 9 cents a share for currency headwinds. For 2015, H-P forecast adjusted EPS of $3.53 to $3.73, which is about 30 cents lower than the previous outlook. Shares of H-P fell more than 5% in late trade.
TT Avg/Max/Min PEM:
Shares of Chicago Bridge & Iron Co. CBI surged over 3% in after-hours trading after the company reported better-than-expected earnings for the fourth quarter.
Chicago Bridge & Iron posted quarterly earnings of $150.4 million, or $1.37 per share, compared to $1.80 per share, in the year-ago period. Excluding non-recurring items, the company earned $1.47 per share.
Its revenue climbed to $3.37 billion from $3.00 billion, with new awards of $3.3 billion. However, analysts were estimating earnings of $1.44 per share on revenue of $3.43 billion.