RESEARCH TRIANGLE PARK – Public companies across North Carolina reported quarterly earnings last week. Here’s a roundup:
- Syneos Health
MORRISVILLE – Syneos Health Inc. (SYNH) on Thursday reported third-quarter earnings of $87 million.
The Morrisville, North Carolina-based company said it had net income of 84 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.23 per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.32 per share.
The clinical research company posted revenue of $1.34 billion in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $1.37 billion.
Syneos Health expects full-year earnings in the range of $4.69 to $4.87 per share, with revenue in the range of $5.3 billion to $5.36 billion.
- Duke Energy
CHARLOTTE – Duke Energy Corp. (DUK) on Thursday reported third-quarter net income of $1.42 billion.
On a per-share basis, the Charlotte, North Carolina-based company said it had profit of $1.81. Earnings, adjusted to account for discontinued operations, were $1.78 per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.83 per share.
The electric utility posted revenue of $7.97 billion in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $7.19 billion.
Duke Energy expects full-year earnings in the range of $5.20 to $5.30 per share.
DURHAM – Aerie Pharmaceuticals Inc. (AERI) on Thursday reported a loss of $26.8 million in its third quarter.
On a per-share basis, the North Carolina, North Carolina-based company said it had a loss of 56 cents. Losses, adjusted for non-recurring costs, came to 27 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 42 cents per share.
The drugmaker posted revenue of $36.1 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $35.1 million.
Aerie shares have more than doubled since the beginning of the year. In the final minutes of trading on Thursday, shares hit $15.23, a climb of 28% in the last 12 months.
- Lending Tree/Tree
CHARLOTTE – Tree.com Inc. (TREE) on Thursday reported a loss of $158.7 million in its third quarter.
On a per-share basis, the Charlotte, North Carolina-based company said it had a loss of $12.44. Losses, adjusted for one-time gains and costs, were 36 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 89 cents per share.
The mortgage lending service provider posted revenue of $237.8 million in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $240.7 million.
For the current quarter ending in December, Tree.com said it expects revenue in the range of $202 million to $217 million.
The company expects full-year revenue in the range of $985 million to $1 billion.
DURHAM – Chimerix Inc. (CMRX) on Thursday reported third-quarter net income of $241.4 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Durham, North Carolina-based company said it had net income of $2.75.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.10 per share.
The biopharmaceutical company posted revenue of $32.6 million in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $205.3 million.
HICKORY – CommScope Holding Co. (COMM) on Thursday reported third-quarter net income of $22.9 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Hickory, North Carolina-based company said it had net income of 4 cents. Earnings, adjusted for one-time gains and costs, came to 50 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.
The wireless and broadband network technology company posted revenue of $2.38 billion in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $2.3 billion.
CHARLOTTE – Albemarle Corp. (ALB) on Wednesday reported third-quarter net income of $897.2 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Charlotte, North Carolina-based company said it had net income of $7.61. Earnings, adjusted for non-recurring gains, were $7.50 per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $6.84 per share.
The specialty chemicals company posted revenue of $2.09 billion in the period, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $2.12 billion.
Albemarle expects full-year earnings in the range of $19.75 to $21.75 per share, with revenue in the range of $7.1 billion to $7.4 billion.
Albemarle shares have risen 14% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $266.52, a rise of 2.5% in the last 12 months.
GREENSBORO – Qorvo Inc. (QRVO) on Wednesday reported fiscal second-quarter net income of $188.6 million.
The Greensboro, North Carolina-based company said it had profit of $1.82 per share. Earnings, adjusted for amortization costs and stock option expense, came to $2.66 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.55 per share.
The chipmaker posted revenue of $1.16 billion in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $1.13 billion.
For the current quarter ending in December, Qorvo expects its per-share earnings to range from 50 cents to 75 cents.
The company said it expects revenue in the range of $700 million to $750 million for the fiscal third quarter.
