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DAILY EARNINGS

Alexander's, Hormel Foods Net Jump; Baxalta, Generac Net Plunge


Author: Mukesh Buch
ticker.com
Last Update: 11:59 AM ET February 16 2016

12:00 PM New York Alexander''s fourth-quarter net soared 30% to $24 million. Baxalta fourth-quarter net plunged 88% to $95 million. Genuine Parts fourth-quarter net dropped 3% to $161 million. Generac fourth-quarter net plummeted 81% to $9 million. Hormel Foods first-quarter net surged 37% to $235 million.

Tollbooth Index increased 82.77 or 0.9% to 9,876.11.

Earnings Review

Alexander''s, Inc (ALX), the real estate investment company said revenue in the fourth-quarter ending in December increased 2.9% from a year ago to $52.8 million.

Net income in the quarter soared 29.7% to $23.6 million or $4.61 per diluted share compared to $18.2 million or $3.55 per share from the same quarter last year.

Baxalta Inc (BXLT), the biopharmaceutical company said revenue in the fourth-quarter ending in December jumped 5% from a year ago to $1.8 billion.

Net income in the quarter plunged 87.5% to $95 million or 14 cents per diluted share compared to $763 million or $1.12 per share from the same quarter last year.

Genuine Parts Company (GPC), the industrial replacement parts distributor reported revenue in the fourth-quarter ending in December dropped 3.7% from a year ago to $3.68 billion.

Net income in the quarter fell 2.6% to $161.3 million compared to $165.6 million and diluted earnings per share were flat at $1.07 from the same quarter last year.

Generac Holdings Inc (GNRC), the portable generators maker stated net sales in the fourth-quarter ending in December plunged 11.4% from a year ago to $357.8 million.

Net income in the quarter plummeted 81.4% to $9.2 million or 14 cents per diluted share compared to $49.4 million or 70 cents per share from the same quarter last year.

Separately, the company agreed to acquire a majority share of Italy-based PR Industrial S.r.l, and its worldwide subsidiaries the owner of the Pramac brand for undisclosed financial terms.

The transaction is expected to close prior to the end of this first quarter.

Hormel Foods Corp (HRL), the food and meat products maker said total revenue in the first-quarter ending in December declined 4.3% from a year ago to $2.3 billion.

Net income in the quarter surged 36.9% to $235.1 million or 43 cents per diluted share compared to $171.7 million or 32 cents per share from the same quarter last year.

Hormel Foods lifted earnings per share forecast in the fiscal 2016 between $1.50 and $1.56 from earlier estimated range of $1.43 to $1.48 per share.
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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