For Immediate Release
Chicago, IL – October 22, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Autoliv (ALV), Ford (F), Nissan (NSANY), Toyota (TM) and Peabody Energy Corp. (BTU).
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Here are highlights from Wednesday’s AnalystBlog:
Autoliv Returns to Profitability
Autoliv (ALV) has shown a profit of $33.7 million or 37 cents per share in the third quarter of the year, after reporting losses for the preceding three quarters. The Sweden-based supplier of automotive safety systems has also beaten the Zacks Consensus Estimate of 24 cents per share. Nevertheless, earnings declined from $34 million, or 44 cents per share, in the same quarter of 2008.
Autoliv believed higher light vehicle production from the “Cash for Clunkers” program and other stimulus packages boosted its earnings. Consolidated net sales declined 14% to $1.32 billion while organic sales (i.e., sales excluding currency effects and acquisitions/ divestitures) fell 12%.
Sales of airbag products decreased 12% to $858 million. Organic sales in the segment dipped 11% compared to an 18% decline in light vehicle production (LVP) in the Triad (i.e. North America, Europe and Japan) due to new business with Ford (F), Volkswagen, Chevrolet, Opel, Suzuki, Nissan (NSANY), Toyota (TM) and Great Wall.
Sales of seatbelt products dropped 17% to $468 million. Organic sales in the segment fell 13% compared to a 21% decline in global LVP. This primarily reflected Autoliv’s greater dependence on advanced higher-value-added seatbelts, particularly for the European and North American markets.
Peabody Beats Expectations
Peabody Energy Corp. (BTU) reported third-quarter earnings of 49 cents per share, beating the Zacks Consensus estimate of 22 cents. However, the quarterly results were down 70.4% from the year ago earnings of $1.35 per share.
Peabody’s revenues declined to $1.67 billion in the quarter from $1.89 billion a year ago. The company’s U.S. revenues per ton increased 11% over last year due to higher realized prices. Realized revenues for Australia averaged $82 per ton – $125 per ton for metallurgical coal and $72 per ton for thermal coal – up 33% from the second quarter of 2009.
The company’s total sales volumes were 63.5 million tons, down from 65.6 million tons a year ago. U.S. sales reflected planned Powder River Basin (PRB) reductions. But Australian sales of 6.5 million tons were 30% above the second quarter and Australian metallurgical coal exports were 2.7 million tons, nearly triple the pace of the first half of 2009.
Peabody now expects its 2009 EBITDA to be $1.2-$1.3 billion versus previous target of $1-$1.2 billion. The company is targeting earnings of $1.34 – $1.54 per share, including a tax remeasurement, or $1.60 – $1.80 per share excluding the tax effects.
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