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DAILY EARNINGS

Delta Air Lines, KB Home Net Soar; Progress Software Net Swing to Profit


Author: Mukesh Buch
ticker.com
Last Update: 12:03 PM EST January 11 2018

11:45 PM New York Delta Air Lines fourth-quarter net declined 8% to $572 million. KB Home fourth-quarter net surged 125% to $84 million. Progress Software fourth-quarter net swung to profit $16 million.

Tollbooth Index increased 25.09 or 0.2% to 14,316.38.

Earnings Review

Delta Air Lines, Inc (DAL), the airline services provider reported total revenues in the fourth-quarter ending in December soared 8.3% from a year ago to $10.2 billion.

Net income in the quarter declined 8% to $572 million or 80 cents per diluted share from $622 million or 84 cents in the same quarter last year.

The airline services provider said total passenger revenues jumped 6.6% to $8.5 billion and cargo revenues soared 14.4% to $200 million and other revenues surged 17.9% to $1.5 billion.

Delta raised its full-year profit outlook to between $6.35 and $6.70 per share ahead of Wall Street estimates.

KB Home (KBH), the home builder said total revenues in the fourth-quarter ending in December jumped 18% from a year ago to $1.4 billion.

Net income in the quarter surged 125% to $84.3 million or 84 cents per diluted share from $37.5 million or 40 cents in the same quarter last year.

The home builder said total deliveries jumped 9% to 3,340 homes and average selling price advanced 8% to $416,500.

Net order value for the quarter increased 9% to $935.4 million on a 2% increase in net orders to 2,296 units and backlog value jumped 9% to $1.7 billion with the number of homes in backlog roughly flat at 4,411.

Progress Software Corporation (PRGS), the application developer said revenues in the fourth-quarter ending in November fell 1% from a year ago to $116.1 million.

Net in the quarter swung to profit $16.4 million or 34 cents per diluted share from a loss of $73.8 million or $1.52 in the same quarter last year.

Progress Software forecasted fiscal 2018 revenues in the range of $398 million to $404 million and diluted earnings per share between $1.14 and $1.21.

Regency Centers Corp (REG), the real estate developer lifted fiscal 2017 diluted earnings per share forecast in the range of $1 to $1.02 from the earlier estimated of 76 cents to 81 cents.

The real estate developer forecasted fiscal 2018 diluted earnings per share in the range of $1.47 to $1.56.
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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