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DAILY EARNINGS

Bed Bath, H.B. Fuller, Jabil Circuit Net Climb


Author: Mukesh Buch
ticker.com
Last Update: 12:01 PM ET September 26 2013

10:45 AM New York Bed Bath second-quarter net surged 15% to $294.3 million. Ferrellgas fourth-quarter loss narrowed to $28.5 million. H.B. Fuller third-quarter net jumped 6% to $28.3 million. Jabil Circuit fourth-quarter net surged 53.4% to $127 million. McCormick third-quarter net was flat at $104.4 million.

Earnings Review

Bed Bath & Beyond Inc (BBBY), the home furnishings retailer reported net sales in the second-quarter ending in August jumped 8.9% to $2.82 billion. Comparable store sales in the quarter increased 3.7%.

Net income in the quarter surged 15% to $294.3 million or diluted earnings $1.16 per share compared to $224.3 million per share or 98 cents per share.

The company expects net earnings per diluted share in third quarter in the range of $1.11 to $1.16 and $1.70 to $1.77 for the fourth quarter and between $4.88 and $5.01 for the year.

eBay Inc (EBAY), the online marketplace agreed to acquire Braintree, the payment platform provider for $800 million in cash.

The transaction is expected to close late in the fourth quarter of this year.

Ferrellgas Partners, LP (FGP), the propane equipment distributor said total revenues in the fourth-quarter ending in July grew 2.6% to $350.7 million. Net loss in the quarter narrowed to $28.5 million or diluted loss per share of 36 cents compared to $35.2 million per share or 45 cents per share.

Hertz Global Holdings, Inc (HTZ), the rental car company lowered its revenues and adjusted pre-tax income guidance for the year to between $10.80 billion and $10.90 billion compared to earlier forecast in February in the range of $10.85 billion to $10.95 billion.

The company estimated adjusted net income between $780 million and $830 million from the prior guidance of $830 million to $875 million.

H.B. Fuller Company (FUL), the adhesives maker said net revenue in the third-quarter ending in August grew 2.8% to $514.6 million. Net income in the quarter rose 5.5% to $28.3 million or diluted earnings 55 cents per share compared to $83.3 million per share or $1.64 per share.

Jabil Circuit, Inc. (JBL), the electronic chip maker reported net revenue in the fourth-quarter ending in August dropped 11.6% to $4.81 billion. Net income in the quarter surged 53.4% to $127 million or diluted earnings 61 cents per share compared to $82.8 million per share or 39 cents per share.

McCormick & Company, Inc (MKC), the spice maker reported sales in the third-quarter ending in August climbed 4% to $1.02 billion. Net income in the quarter was flat at $104.4 million and diluted earnings per share were flat at 78 cents compared to a year ago period.
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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