The earnings calendar for Friday is fairly busy ahead of the opening bell, while many more companies are scheduled to report their earnings either after the opening bell or after the closing bell. Some notable earners are discussed here.
General Electric Company (NYSE: GE) on Friday reported its fourth quarter financial results before the opening bell. For the quarter, the company reported operating earnings of $4.1 billion, up 6 percent from $3.9 billion in the fourth-quarter of 2010 and Operating EPS was $0.39, up 11 percent from the fourth quarter of last year. Revenues were $38.0 billion for the quarter and $147.3 billion for the year. For full year operating earnings were $14.8 billion, up 20 percent from $12.3 billion in 2010, and Operating EPS excluding effects of the preferred redemption was $1.37, up 22 percent. Full-year Revenues were $147.3 billion, up 7 percent excluding the impact of NBCU, and were down 2 percent compared to revenues of $149.6 billion from the prior year. GE was trading lower by 2.61 percent to $18.65 in the pre-market treading on Friday.
Schlumberger NV (NYSE: SLB) today reported fourth quarter and full year financial results ahead of the opening bell. For the quarter, the company reported revenue of $10.97 billion versus $10.23 billion in the third quarter of 2011, and $9.07 billion in the fourth quarter of 2010. Net income for the quarter was $1.41 billion, or $1.05 per diluted share, compared to net income of $1.04 billion, or $0.76 per diluted share in the same quarter last year. For full year, 2011 Schlumberger reported revenue of $39.54 billion versus $27.45 billion in 2010. Net income for the year was $4.97 billion, representing diluted earnings-per-share of $3.66 versus $2.86 in 2010. Shares of SLB were trading lower by 0.23 percent to $72.69 in the pre-market trading.
Sun Trust Banks Inc. (NYSE: STI) today reported its fourth quarter net income of $152 million, or $0.28 per diluted share, for the fourth quarter of 2011, compared with net income of $185 million, or $0.23 per diluted share in the same quarter last year. Earnings per average common share was $1.09 for the full year 2011 compared to a net loss of $0.18 per average common share for 2010. Total revenue for the quarter was $2.04 billion, down from $2.32 billion in the comparable quarter last fiscal. For full year 2011, revenue stood at $8.49 billion, a modest decline of $25 million compared with 2010. STI is trading higher by 3.75 percent to $21 a share in the pre-market trading today.
Fifth Third Bancorp (Nasdaq: FITB) today reported full year 2011 net income of $1.3 billion, compared with net income of $753 million in 2010. After preferred dividends, 2011 net income available to common shareholders was $1.1 billion, or $1.18 per diluted share, compared with 2010 net income available to common shareholders of $503 million, or $0.63 per diluted share. Fourth quarter 2011 net income was $314 million, compared with net income of $381 million in the third quarter of 2011 and net income of $333 million in the fourth quarter of 2010. FITB is trading lower by 7.67 percent to $12.52 a share in the pre-market trading.