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DAILY EARNINGS

Bank of the Ozarks, Commerce Bancshares Net Jump; Delta Air Lines Net Plunges


Author: Mukesh Buch
ticker.com
Last Update: 12:46 PM EDT July 12 2018

11:45 PM New York Bank of the Ozarks second-quarter net jumped 27% to $115 million. Commerce Bancshares second-quarter net soared 10% to $108 million. Delta Air Lines second-quarter net declined 13% to $1 billion.

Tollbooth Index jumped 123.12 or 0.8% to 15,501.61 but for the year-to-date soared 12.7%.

Earnings Review

Bank of the Ozarks (OZRK), the retail and commercial banking services provider reported net interest income in the second-quarter ending in June advanced 11.2% from a year ago to $224.7 million.

Net income in the quarter jumped 26.9% to $114.8 million or 89 cents per diluted share from $90.5 million or 73 cents in the same quarter last year.

The lender said as of June 30, total loans soared 10.4% to $16.8 billion and total deposits surged 10.2% to $17.9 billion.

Commerce Bancshares Inc (CBSH), the banking and financial services provider said total revenues in the second-quarter ending in June jumped 7.4% from a year ago to $335.8 million.

Net income in the quarter soared 9.5% to $108.1 million or $1.01 per diluted share from $98.7 million or 92 cents in the same quarter last year.

Delta Air Lines Inc (DAL), the airline services provider reported revenues in the second-quarter ending in June soared 9.6% from a year ago to $11.8 billion.

Net income in the quarter declined 13.4% to $1 billion or $1.47 per diluted share from $1.2 million or $1.62 in the same quarter last year.

Delta Air lowered fiscal 2018 earnings per share forecast to between $5.35 and $5.70 from the January estimate of $6.35 to $6.70.

""With an expected $2 billion higher fuel bill for 2018, we are now forecasting our full-year earnings to be $5.35 to $5.70 per share,"" said chief executive officer Ed Bastian.

T. Rowe Price Group, Inc (TROW), the asset manager said as of June 30, preliminary assets under management increased to $1.044 trillion from $1.038 trillion in May and total client transfers in June were about $13.6 billion.

Valmont Industries, Inc (VMI), the diversified fabricated metal products producer lowered fiscal 2018 revenues growth forecast of 4% from the earlier estimate of 7% and diluted earnings per share in the range of $6.51 to $6.61 from the earlier estimate of $7.70 to $7.80.
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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