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DAILY EARNINGS

Constellation Brands Net Surges, International Speedway Net Declines


Author: Mukesh Buch
ticker.com
Last Update: 11:44 AM EDT October 05 2017

11:45 PM New York Constellation Brands second-quarter net surged 39% to $499.5 million. International Speedway third-quarter net declined 8% bur revenues increased. Lamb Weston first-quarter net jumped 5% to $83 million.

Tollbooth Index jumped 50.38 or 0.4% to 12,710.48.

Earnings Review

The Buckle, Inc (BKE), the apparel, footwear and accessories retailer said net sales in the five-weeks ending in September declined 6.1% to $77.9 million and comparable store sale slumped 5.7%.

Constellation Brands, Inc (STZ), the beer, wine and spirits distributor reported revenues in the second-quarter ending in August advanced 4.5% from a year ago to $2.3 billion.

Net income in the quarter surged 39.2% to $499.5 million or $2.48 per diluted share from $358.9 million or $1.75 in the same quarter last year.

The beer maker lifted earnings per share forecast between $7.90 and $8.05 from $7.52 in fiscal 2017 and wine maker also reaffirmed fiscal 2018 operating cash flow of about $2 billion and free cash flow in the range of $725 million to $825 million.

International Speedway Corp (ISCA), the motorsports event operator said total revenues in the third-quarter ending in August increased 2.2% from a year ago to $131.9 million.

Net income in the quarter declined 8% to $0.3 million or 1 cent per diluted share from $2.2 million or 5 cents in the same quarter last year.

The motorsports event operator forecasted fiscal 2017 revenues in the range of $660 million to $670 million and operating margin between 15.5% and 17% and diluted earnings per share in the range of $1.50 to $1.65.

ImmunoGen, Inc (IMGN), the clinical-stage biotechnology products developer plans to offer 13 million shares and use the proceeds to finance research, development, clinical trials and for other corporate purposes.

L Brands Inc (LB), the specialty retailer reported net sales in the five-weeks ending in September increase 1% to $971.4 million and comparable store sales decreased 2%.

Lamb Weston Holdings Inc (LW), the frozen appetizer and vegetable products supplier stated revenues in the first-quarter ending onAugust 27 increased 5% from a year ago to $817.5 million.

Net income in the quarter jumped 5% to $83.4 million or 56 cents per diluted share from $79.6 million or 54 cents in the same quarter last year.

The frozen vegetable products supplier estimated fiscal 2018 revenues growth rate low-to-mid single digits from a year ago period.

Zumiez Inc (ZUMZ), the specialty retailer said total net sales in the five-weeks ending in September surged 12.6% to $84.4 million and comparable store sales soared 9.3%.

The retailer lifted fiscal third-quarter revenues forecast between $241 million and $243 million compared to the earlier estimated range between $236 million and $241 million.

Specialty retailer estimated comparable sales to increase between 6% and 7% and diluted earnings per share to jump in the range of 45 cents to 48 cents from the earlier forecasted range of 43 cents to 48 cents.
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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