Send Aid to This Countrywide: Fool by Numbers

On July 24, Countrywide Financial (NYSE: CFC  ) released second-quarter earnings for the period ended June 30.

  • Total revenues dipped 15.1%, primarily because of weakness in the housing market and delinquencies and defaults across all mortgage products.
  • The company increased its cash and investments on hand 17%; meanwhile, accounts payable increased by 15% and long-term debt inched 1.5% higher.
  • Countrywide Financial declared a dividend of $0.15 per share. For fiscal 2007, the company anticipates earnings per share to be in the range of $2.70 to $3.30.
  • Countrywide Financial carries a one-star rating (out of a potential five stars) in Motley Fool CAPS. Competitors Wells Fargo (NYSE: WFC  ) and Bank of America (NYSE: BAC  ) both carry a three-star rating.  

(Figures in millions, except per-share data.)

Income Statement Highlights

Q2 2007

Q2 2006

Change

Sales

$2,548.4

$3,000.2

(15.1%)

Net Profit

$485.1

$722.2

(32.8%)

EPS

$0.81

$1.15

(29.6%)

Diluted Shares

595.5

626.6

(5.0%)

Get back to basics with the income statement.

Margin Checkup

Q2 2007

Q2 2006

Change*

Operating Margin

26.1%

39.8%

(13.7)

Net Margin

19.0%

24.1%

(5.0)

*Expressed in percentage points.

Margins are the earnings engine.

Balance Sheet Highlights

Assets

Q2 2007

Q2 2006

Change

Cash + ST Invest.

$50,332.2

$43,010.3

17.0%

Liabilities

Q2 2007

Q2 2006

Change

Accounts Payable

$8,914.2

$7,742.6

15.1%

Long-Term Debt

$77,669.1

$76,527.4

1.5%

The balance sheet reflects the company's health.

Cash Flow Highlights

Cash flow data is unavailable.

Free cash flow is a Fool's best friend.

Related Foolishness:

Bank of America is a Motley Fool Income Investor recommendation. Fool by Numbers is designed to give you the raw earnings information in a timely fashion, putting all the numbers you need in one easy-to-read place. But at The Motley Fool, we believe numbers tell only part of the story, so check Fool.com for more of our in-depth discussion of what the numbers mean. This data has been provided by Netscribes. To provide feedback on this article, please click on the "feedback" button below.


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