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DAILY EARNINGS

Becton Dickinson Net Surges; CIGNA, DowDuPont, Yum! Brands Net Drop


Author: Mukesh Buch
ticker.com
Last Update: 1:31 PM EDT November 02 2017

11:45 PM New York – Becton Dickinson fourth-quarter net surged to $289 million. CIGNA Corp third-quarter net plunged 23% to $560 million. DowDuPon third-quarter net tumbled 29% to $514 million. Intercontinental Exchange third-quarter net jumped 7% to $369 million. Yum! Brands third-quarter net declined 35% to $418 million.

Tollbooth Index advanced 42.17 or 0.3% to 13,100.64.

Earnings Review

Alibaba Group Holding Ltd (BABA), China-based online market place reported revenues in the third-quarter ending in September soared 61% from a year ago to $8.3 billion and net income in the quarter surged 146% to $2.6 billion and diluted earnings per share increased to $1.02.

Alibaba lifted fiscal 2017 revenues growth forecast to between 49% and 53% from the earlier estimate of 45% to 49%.

Automatic Data Processing Inc (ADP), the outsourcing services provider said revenues in the first-quarter ending in September advanced 6% from a year ago to $3.1 billion.

Net income in the quarter jumped 9% to $401.5 million or 90 cents per diluted share from $368.7 million or 81 cents in the same quarter last year.

“We return to expected new business bookings growth of 5% to 7% for fiscal 2018,” said president and chief executive officer Carlos Rodriguez.

Becton Dickinson and Co (BDX), the laboratory and diagnostic equipment supplier stated revenues in the fourth-quarter ending in September dropped 3.1% from a year ago to $12.1 billion.

Net income in the quarter surged to $289 million or $1.24 per diluted share from $19 million or 9 cents in the same quarter last year.

The laboratory equipment supplier forecasted fiscal 2017 revenues to increase between 5% to 6% and diluted earnings per share to be between $10.55 and $10.65.

CIGNA Corporation (CI), the insurance services provider said total revenues in the third-quarter ending in September advanced 5% from a year ago to $10.4 billion.

Net income in the quarter plunged 22.8% to $560 million or $2.21 per diluted share from $456 million or $1.76 in the same quarter last year.

Cigna estimated fiscal 2017 net income in the range of $2.60 billion to $2.65 billion and diluted earnings per share in the range of $10.20 to $10.40.

DowDuPont Inc (DWDP), the diversified chemicals producer reported revenues in the third-quarter ending in September soared 23% from a year ago to $15.4 billion.

Net income in the quarter tumbled 29% to $514 million or 32 cents per diluted share from $719 million or 63 cents in the same quarter last year.

Dow said sales in Europe, Middle East and Africa and in Asia Pacific jumped double-digits and sales in North America increased 4% while sales in Latin America declined.

Intercontinental Exchange Inc (ICE), the securities exchanges operator said total revenues in the third-quarter ending in September were nearly flat from a year ago at $1.43 billion.

Net income in the quarter jumped 7.3% to $369 million or 62 cents per diluted share from $344 million or 57 cents in the same quarter last year.

Separately, the exchanges operator plans to launch share buyback plan of up to $1.2 billion.

Yum! Brands, Inc (YUM), the quick service restaurants operator reported revenues in the third-quarter ending in September plummeted 5% from a year ago to $1.4 billion.

The restaurants operator said worldwide system sales in the quarter jumped 6% with KFC sales soared 7%, Taco Bell sale increased 6% and Pizza Hut advanced 3%.

Same store sales in the quarter at KFC stores advanced 4%, at Taco Bell stores grew 3%, at Pizza Hut stores rose 1% and worldwide same store sales increased 3%.

Net income in the quarter declined 35% to $418 million or $1.18 per diluted share from $640 million or $1.07 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