This silly earning thing

First Quarter earning reports for the stocks I own (as of this writing, it could change without notice). This is mostly for my own benefit, I want to collect them in one place rather than go to different IR web sites. Listening to conference call is a mixed experience, sometimes it’s fun, sometimes it’s boring. The most interesting part is the Q&A session, where the analysts and management goes back and forth: and I get the most out of things there (most of time).

US Bancorp USB beat slightly
Conference call (audio and slides)

McDonald MCD (barely according to CNBC)
Conferece call (for some reason it’s not working for me).

CNBC report (link).

Ingersoll Rand: huge write down, stock still up?

This morning, Ingersoll Rand (NYSE: IR), the diversified industrial company makes procucts to air conditioner (Trane) to Schlage locks, reported its Q4 2008 earning this morning. Some highlights: it wrote down $3.7 billion (pre-tax, $3.4 b after tax) from Trane acqusition, or a loss of $10.56 per share. Interestingly, the stock went up about 15% in today’s trading. Why?

Some are saying the reason is the Q4 earning is above guidance (and street expectation).

Ingersoll Rand

Company web page; Google Finance; Yahoo Finance; quick facts on Trane unit.

2Q 2008 results (Bloomberg), released on Aug 1.
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Ingersoll-Rand Co., the maker of Thermo King and Hussmann refrigeration equipment, said second- quarter profit rose 26 percent after acquiring air conditioner- maker Trane Inc.

Profit from continuing operations climbed to $262.5 million, or 90 cents a share, from $208 million, or 68 cents, a year earlier, matching analysts’ estimates. Sales grew 38 percent to $3.08 billion, the Hamilton, Bermuda-based company said today in a statement.

The results include about three weeks’ worth of sales from Trane. Ingersoll-Rand completed the $9.6 billion purchase June 5, creating a climate-control business that spans refrigerated truck parts, display cases and ventilation systems. The combined company is forecast to post sales of $17 billion this year as Chief Executive Officer Herbert Henkel expands the company’s industrial products after exiting construction machinery.
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