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DAILY EARNINGS

Apogee, Conagra, Paychex Net Jump; Finish Line Net Loss Narrows


Author: Mukesh Buch
ticker.com
Last Update: 11:51 AM EST December 21 2017

11:45 PM New York Apogee third-quarter net jumped 5% to $24 million. CarMax third-quarter net soared 9% to $149 million. Conagra second-quarter net surged 83% to $224 million. Finish Line second-quarter net loss narrowed to $13 million. Paychex first-quarter net jumped 7% to $217 million.

Tollbooth Index rose 17.12 to 13,868.44.

Earnings Review

Apogee Enterprises Inc (APOG), the glass and acrylic products developer reported revenues in the third-quarter ending on December 2 surged 30% from a year ago to $356.5 million.

Net income in the quarter jumped 5% to $23.6 million or 82 cents per diluted share from $22.6 million or 78 cents in the same quarter last year.

Apogee lowered fiscal revenues growth forecast to about 20% from the earlier estimate of 24% to 26% and lowered diluted earnings per share in the range of $2.58 to $2.68 from earlier estimate of $3.05 to $3.25.

CarMax, Inc (KMX), the car dealer said net sales in the third-quarter ending in November jumped 11% from a year ago to $4.1 billion.

Used vehicle sales at comparable stores in the quarter advanced 2.7% and total used unit sales rose 8.2% and total wholesale unit sales increased 9.1%.

Net income in the quarter soared 8.9% to $148.8 million or 81 cents per diluted share from $136.6 million or 72 cents in the same quarter last year.

Conagra Brands, Inc., formerly ConAgra Foods, Inc (CAG), the packaged food maker reported net sales in the second-quarter ending on November 26 advanced 4.1% from a year ago to $2.2 billion.

Net income in the quarter surged 83.1% to $223.5 million or 55 cents per diluted share from $122.1 million or 28 cents in the same quarter last year.

Separately, today Conagra agreed to acquire the Sandwich Bros. of Wisconsin business without disclose of financial terms.

The transaction is expected to close in early 2018.

The Finish Line, Inc (FINL), the specialty retailer said net sales in the second-quarter ending on November 25 rose 1.8% from a year ago to $378.5 million.

Comparable store sales in the quarter increased 0.8%.

Net loss in the quarter narrowed to $12.9 million or 32 cents per diluted share from $40.4 million or $1 per share in the same quarter last year.

In fiscal 2018, the retailer forecasted comparable sales to decrease between 2% and 3% but lifted diluted earnings per share to increase to the range of 59 cents to 67 cents from the earlier estimate of 50 cents to 60 cents.

Lindsay Corporation (LNN), the agricultural machinery provider stated revenues in the first-quarter ending in November jumped 13% from a year ago to $124.5 million.

Net income in the quarter soared to $3.2 million or 30 cents per diluted share from $0.9 million or 8 cents in the same quarter last year.

Paychex, Inc (PAYX), the outsourcing services provider reported total revenues in the first-quarter ending in November soared 7% from a year ago to $826.5 million.

Net income in the quarter jumped 7% to $217 million or 60 cents per diluted share from $202.1 million or 56 cents in the same quarter last year.
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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