You can’t be tired of earnings season already. It’s just getting interesting.
This is the week when some of the region’s biggest and best-known companies report financial results. We’re talking Sunoco Inc., Cigna Corp. and Unisys Corp. as well as Dow Chemical Co. and Pfizer Inc., both of which bought huge Philadelphia-area employers in Rohm & Haas Co. and Wyeth during the last year.
Sunoco’s results bear watching because the current business cycle has been awful for oil refiners. As a result, Valero Energy Corp., Chevron Corp., Sunoco and others have been closing refineries and slashing their workforces. Sunoco has posted net losses in its last two consecutive quarters.
On the flip side, Unisys will try to make it three quarters in a row in booking a profit, something the computer-services company hasn’t done since 2004.
But as usual, Comcast Corp. will probably get most of the attention when it releases its fourth-quarter and year-end results on Wednesday. Last quarter, the Philadelphia company said it lost 132,000 cable TV customers, but added 736,000 phone and high-speed Internet customers.
Plus, it may have some news on the employment front. In November, Comcast said it was looking at cost cutting and expected to take a charge for severance costs in the fourth quarter.
On Thursday, Comcast CEO Brian L. Roberts and NBC Universal CEO Jeffrey Zucker will be in Washington to make their case for the combination of their media enterprises.
They will testify at two hearings: the House Energy & Commerce subcommittee on communications, technology and the Internet at 9:30 a.m., and the Senate Judiciary subcommittee on antitrust, competition policy and consumer rights at 2:30 p.m.
Think DirecTV will be covering the hearings live in HD?
Earnings
Here’s the scorecard for this week’s earnings avalanche.
Today: Crown Holdings
Tuesday: Dow Chemical, Hershey, Kenexa
Wednesday: Comcast, eResearchTechnology, Pfizer, Republic First Bancorp, Triumph Group
Thursday: Cigna, EnerSys, FMC, GlaxoSmithKline, Knoll, Kulicke & Soffa Industries, Nobel Learning Communities, Sunoco, Technitrol, Unisys
Friday: Aetna, PPL.
Mike Armstrong, a business editor and writer for nearly two decades, is the Inquirer's business columnist and PhillyInc blog editor. Contact Mike via e-mail or at 215-854-2980
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