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DAILY EARNINGS

21st Century Fox, Hasbro Net Jump; Lowe's Net Swing to Profit


Author: Mukesh Buch
ticker.com
Last Update: 2:05 AM ET February 06 2017

12:00 PM New York 21st Century Fox second-quarter net surged 27% to $856 million. Hasbro fourth-quarter net jumped 12% to $193 million. Lowe''s first-quarter net swung to profit $268 million. Sysco second-quarter net rose 1% to $275 million. Tyson Foods first-quarter net surged 29% to $593 million.

Tollbooth Index increased 28.08 or 0.3% to 11,375.27.

Earnings Review

FMC Corp (FMC), the diversified chemical producer said revenues in the fourth-quarter ending in December slumped 4% from a year ago to $865.6 million.

Net in the quarter swung to profit $15.9 million or 12 cents per diluted share compared to the loss of $204.1 million or $1.53 per share in the same quarter last year.

In the fiscal 2017, FMC forecasted adjusted earnings per share in the range of $3.20 to $3.60, an increase of 20% from a year ago to $2.82.

Twenty-First Century Fox Inc (FOX), the media and entertainment group reported revenues in the second-quarter ending in December jumped 4% from a year ago to $7.7 billion.

Net income in the quarter surged 27.4% to $856 million or 46 cents per diluted share compared to the $672 million or 34 cents per share in the same quarter last year.

The media group said revenue growth reflects higher advertising at both cable network and television segments.

Hasbro, Inc (HAS), the branded toys maker said revenues in the fourth-quarter ending in December soared 11% from a year ago to $1.6 billion.

Net income in the quarter jumped 11.8% to $192.7 million or $1.52 per diluted share compared to the $175.8 million or $1.39 per share in the same quarter last year.

Separately, Hasbro promoted John Frascotti as President with immediate effect.

Lowe''s Companies, Inc (L), the home improvement retailer stated revenues in the first-quarter ending in December were flat from a year ago to $3.33 billion.

Net in the quarter swung to profit $268 million or 79 cents per diluted share compared to the loss of $201 million or 58 cents per share in the same quarter last year.

Sysco Corporation (SYY), the food products retailer reported sales in the second-quarter ending in December surged 10.7% from a year ago to $13.5 billion.

Net income in the quarter rose 1% to $275.2 million or 50 cents per diluted share compared to the $272.4 million or 48 cents per share in the same quarter last year.

The food service provider said gross margin in the quarter increased to 19.11% from 17.75% and margin expand despite the sales in domestic operation fell 0.5% to $9.1 billion while international sales more than doubled to $2.63 billion.

Tyson Foods, Inc (TSN), the food products maker said revenues in the first-quarter ending in December rose 0.3% from a year ago to $9.18 billion.

Net income in the quarter surged 28.6% to $593 million or $1.59 per diluted share compared to the $461 million or $1.15 per share in the same quarter last year.

Tyson Foods estimated earnings per share to jump 12% or between $4.90 and $5.05.
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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc