Stocks In The News (CUBE, ED, EGO, FLR)
CubeSmart (NYSE:CUBE) first quarter funds from operations increased to $20.0 million, from $14.7 million in the prior-year quarter. Adjusted FFO was $20.5 million or $0.16 per share. Revenues increased to $67.2 million from $55.8 million last year. Analysts expected the company to earn $0.16 per share on revenues of $64.32 million for the period.
Looking ahead, the company expects second quarter FFO in the range of $0.16 to $0.17 per share. Analysts expect earnings of $0.18 per share for the second quarter.
Consolidated Edison, Inc. (NYSE:ED) shares declined 0.12% to $59.09 in the after-hour trading. The company posted first quarter profit of $280 million, or $0.94 a share, down from $314 million or $1.06 a share, in the same quarter a year earlier. Revenue slid 8.1% to $3.08 billion. Analysts expected a $1.04 per-share profit.
Looking forward, the company confirmed its previous forecast of earnings per share (EPS) from on-going operations in the range of $3.65 to $3.85 a share. Analysts are expecting the company to report EPS of $3.75 for fiscal 2012
Eldorado Gold Corp (USA) (NYSE:EGO) posted first quarter net income of $67.9 million or $0.11 per share, as compared with $52.5 million or $0.10 per share in the first quarter of 2011. Revenues from gold sales were up $49.6 million, or 24%, from the same quarter of 2011 due to higher gold prices. The company’s first quarter gold production was 155,535 ounces at an average cash operating cost of $452 per ounce.
Fluor Corporation (NEW) (NYSE:FLR) stock gained 1.91% to $57.62 in the after-hour trading after the company’s first-quarter earnings rose 11%, driven by strong revenue growth at the company’s oil-and-gas business and industrial-and-infrastructure segment.
The company reported a first quarter profit of $154.9 million, or $0.91 a share, up from $139.7 million, or $0.78 a share, in the same period a year earlier. Revenue jumped 24% to $6.29 billion. Analysts had expected the company to report earnings of $0.87 a share on revenue of $6.3 billion.
Looking ahead, the company Fluor continues to expect full year 2012 earnings in the range of $3.40 to $3.80 per share, while analysts expect $3.75 per share.