Earnings Recap: Agnico-Eagle Mines, Axis Capital Holdings & Coinstar
Agnico-Eagle Mines Limited (USA)(NYSE:AEM) shares soared 8.37% to $38.84 after the company said that it earned $78.5 million or 46 cents a share, up from a year ago profit of $45.3 million, or 27 cents a share. On an adjusted basis, the company would have earned 59 cents a share, topping analysts’ estimates by 22 cents. Revenue during the quarter grew 15% to $472.9 million driven by a 20% increase in the average realized gold price in the period. Boyd said the company was pleased with progress on planned expansions and development projects, and the miner expects to provide an update on Goldex mine around mid-2012.
Axis Capital Holdings Limited (NYSE:AXS) shares slid 4.80% to $33.14 after the company swung to a first-quarter profit on lower catastrophe losses. The company earned $122.0 million, or 96 cents per share, reversing a year ago loss of $383.8 million, or $3.39 per share. Operating profit was $136 million, or $1.07 per share. Analysts were estimating $1.10 per share. Net premiums earned jumped 7% to $846 million. Axis’ reinsurance segment reported an underwriting profit of $52 million for the quarter, a turn-around from an underwriting loss of $413 million last year.
The insurance segment reported underwriting income of $11 million for the quarter, compared to a loss of $48 million in the year-ago period.
Coinstar, Inc. (NASDAQ:CSTR) shares slumped 5.66% after the company provided lackluster second quarter revenue outlook. The company projects to earn $1.09 to $1.24 a share on revenue of $525 million to $550 million. Missing analysts estimates of $1.05 a share, on revenue of $544.1 million.
For the first quarter, the company earned $53.7 million, or $1.65 a share, compared with $14.8 million, or 46 cents a share a year ago. On an adjusted, basis earnings would have been $1.39 a share. Revenue grew 34% to $568.2 million. Revenue at Redbox soared 39% at $502.9 million. Analysts were projecting $1.34 per share on revenue of $563.50 million.