The Walt Disney Jumped On Solid Earnings (DIS, EOG, ETE, ETP)
The Walt Disney Company (NYSE:DIS) shares gained 1.65% to $45.03 in the pre-market session after the company’s second-quarter profit rose 21% as higher revenue from the company’s cable networks and theme parks offset losses in its movie studio.
The company reported second quarter earnings $1.14 billion, or $0.63 a share, as compared with a profit of $942 million, or $0.49 a share, in the year-ago period. Excluding items, the company earned $0.58 a share in the latest quarter. Revenues rose to $9.6 billion, up 6% from the same time a year ago. Analysts were expecting a profit of $0.55 a share on revenue of $9.56 billion.
EOG Resources, Inc. (NYSE:EOG) stock fell 1.55% to $102.38 in the after hour trading after the company reported first-quarter net income of $324.01 million or $1.20 per share, as against $133.97 million or $0.52 per share in the year-ago period. Adjusted net income for the quarter soared to $317.46 million or $1.17 per share. Total operating revenues for the quarter grew 48 to $2.81 billion. Analysts expected the company to earn $1.16 per share on revenue of $2.36 billion.
Looking ahead, the company now expects fiscal 2012 total company production growth of 7% and total liquids production growth of 33%.
Energy Transfer Equity, L.P. (NYSE:ETE) stock declined 1.63% to $39.25 in the after hour trading after the company reported first quarter distributable Cash Flow, as adjusted, of $130.7 million, as compared to $125.8 million for the same period in 2011. The company’s net income was $166.4 million, an increase of $77.8 million over the same period last year.
Energy Transfer Partners LP (NYSE:ETP) first-quarter earnings surged as a gain on the sale of the company’s propane business offset weaker revenue from natural gas sales.
The company reported first-quarter net income of $998.2 million or $4.35 per share, as compared to $247.2 million or $0.71 per share last year. Total revenues for the quarter dropped to $1.31 billion from $1.69 billion last year. Analysts expected earnings of $0.43 per share on revenues of $1.79 billion for the quarter.