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DAILY EARNINGS

Delta Air Lines, KB Home, Shaw Net Decline


Author: Mukesh Buch
ticker.com
Last Update: 6:42 AM ET January 12 2017

12:00 PM New York Advanced Drainage Systems second-quarter net soared 52% to $21 million. Delta Air Lines fourth-quarter net plunged 37% to $622 million. KB Home fourth-quarter net declined 15% to $38 million. Shaw Communications first-quarter net tumbled 59% to $89 million.

Tollbooth Index slipped 79.58 or 0.7% to 11,267.98.

Earnings Review

Advanced Drainage Systems Inc (WMS), the plumbing fixtures maker said net sales in the second-quarter ending in September slumped 6% from a year ago to $360.8 million.

Net income in the quarter soared 52% to $20.9 million or 38 cents per diluted share compared to the $10.7 million or 19 cents per share in the same quarter last year.

In fiscal 2017, the plumbing material maker forecasted sales in the range of $1.23 billion to $1.25 billion and operating profit between $190 million and $210 million.

Delta Air Lines, Inc (DAL), the international airline operator reported revenues in the fourth-quarter ending in December fell 0.5% from a year ago to $9.5 billion.

Net income in the quarter plunged 37% to $622 million or 84 cents per diluted share compared to the $980 million or $1.25 per share in the same quarter last year.

Intuitive Surgical Inc (ISRG), the surgical equipment maker forecasted revenue in the fourth-quarter to soar 12% to $757 million compared to the reported $677 million in the same period a year ago.

In the year, the medical devices maker estimated revenue to jump 13% to $2.7 billion from $2.4 billion reported in a year ago.

The company is scheduled to report results on January 24.

KB Home (KBH), the home builder said revenues in the fourth-quarter ending in November jumped 21% from a year ago to $1.2 billion.

Net income in the quarter declined 15% to $37.5 million or 40 cents per diluted share compared to the $44 million or 43 cents per share in the same quarter last year.

Shaw Communications Inc (SJR), the Canada-based diversified network services provider stated revenues in the first-quarter ending in November soared 14.9% from a year ago to $1.3 billion.

Net income in the quarter tumbled 59.2% to $89 million or 18 cents per diluted share compared to the $218 million or 43 cents per share in the same quarter last year.

Shaw reaffirmed operating income in fiscal 2017 between $2.13 billion and $2.18 billion and free cash flow to exceed $400 million.
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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