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Marathon Oil Corp., Reliant Energy Inc., Noble Energy Inc., Cameron International Corp., Rowan Cos. Inc., Cabot Oil & Gas Corp., Administaff Inc., COMSYS IT Partners Inc., Westlake Chemical Corp., Hercules Offshore Inc., Harvest Natural Resources Inc. and Pride International Inc. all reported first-quarter earnings Thursday.
For the period ended March 31, 2008, Marathon (NYSE: MRO) reported net income of $731 million, or $1.02 per share, on revenue of $18 billion. That compared with net income in the first quarter of 2007 of $717 million, or $1.03 per share, on revenue of $13 billion.
Analysts polled by Thomson Financial were expecting the Houston energy giant to have net earnings per share of 82 cents.
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Electricity provider Reliant reported net income of $377.2 million, or $1.07 per share, on revenue of $2.8 billion, for the three months ended March 31, 2008. That compared with net income of $258.7 million, or 74 cents per share, on revenue of $2.4 billion, for the same quarter in 2007.
Analysts expected Houston-based Reliant (NYSE: RRI) to have net earnings per share of 18 cents.
Noble Energy, a Houston energy company, posted net income for the quarter of $215 million, or $1.20 per share, on revenue of $1 billion. For the same period in 2007, the company reported net income of $212 million, or $1.22 per share, on revenue of $743 million.
Analysts expected Noble (NYSE: NBL) to have net earnings per share of $1.71.
Cameron (NYSE: CAM) reported net income of $126.3 million, or 55 cents per share, on revenue of $1.3 billion, for the quarter ended March 31, 2008. That compared with net income of $101 million, or 44 cents per share, on revenue of $997 million, for the first quarter of 2007.
Analysts were expecting the Houston oilfield services company to have net earnings per share of 54 cents.
For the three months ended March 31, 2008, contract driller Rowan Cos. had net income of $98.6 million or 88 cents per share, on revenue of $485.5 million. That compared with $86.4 million or 77 cents per share, on revenue of $462.3 million, in the first quarter of 2007.
Analysts were expecting Houston-based Rowan (NYSE: RDC) to have net earnings per share of 85 cents.
Natural gas producer Cabot posted $46 million, or 47 cents per share in net income, on revenue of $219.7 million, for the first quarter ended March 31, 2008. That compared with net income of $48.5 million, or 50 cents per share, on revenue of $191.6 million, for the first quarter in 2007.
Analysts expected Houston-based Cabot (NYSE: COG) to have net earnings per share of 51 cents.
Kingwood-based Administaff (NYSE: ASF) posted net income of $13.2 million, or 51 cents per share, on revenue of $456.1 million, for the three months ended March 31, 2008. That compared with net income of $8.4 million, or 30 cents per share, on revenue of $407.8 million, for the same quarter in 2007.
Analysts were expecting the human resources services provider to have net earnings per share of 48 cents.
COMSYS, a Houston information technology staffing firm, reported first-quarter 2008 net income of $5.6 million, or 27 cents per share, on revenue of $183.4 million. That compared with net income of $5.5 million, or 28 cents per share, on revenue of $186.2 million, for the same quarter last year.
Analysts were expecting COMSYS (NASDAQ: CITP) to have net earnings per share of 27 cents.
Westlake, a Houston-based petrochemicals company, reported net income of $5.4 million, or 8 cents per share, on sales of $915.1 million, for the first quarter of 2008. That compared with net income of $19.7 million, or 30 cents per share, on sales of $718.8 million, for the same quarter in 2007.
Analysts expected Westlake (NYSE: WLK) to have net earnings per share of 19 cents.
Rig operator Hercules (NASDAQ: HERO) reported net income of $4.5 million, or 5 cents per share, on revenue of $213.4 million for the first quarter of 2008. That compared with net income of $33.4 million, or $1.03 per share, on revenue of $110.5 million for first-quarter 2007.
Analysts were expecting Houston-based Hercules to have net earnings per share of 2 cents.
Harvest posted net income of $204,000, or 1 cent per share, for the first quarter ended March 31, 2008. That compared with a net loss of $6.5 million, or 17 cents per share, for the same quarter a year-earlier. The Houston energy company did not report revenue figures.
Analysts expected Harvest (NYSE: HNR) to have net earnings per share of 17 cents.
Offshore drilling contractor Pride posted net income of $240.7 million, or $1.35 per share, on revenue of $557.4 million, for the three months ended March 31, 2008. That compared with net income of $101.7 million, or 58 cents per share, on revenue of $471 million, for the same three months last year.
Analysts polled expected Houston-based Pride (NYSE: PDE) to have net earnings per share of 68 cents.
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