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DAILY EARNINGS

FedEx, General Mills, Jabil Circuit, Micron Technology Surge


Author: Mukesh Buch
ticker.com
Last Update: 12:07 PM EST December 19 2018

11:45 PM New York FedEx second-quarter net surged 21% to $935 million. General Mills second-quarter net surged 20% to $343 million. Jabil Circuit first-quarter net soared 94% to $124 million. Micron Technology first-quarter net jumped 22% to $3.3 billion. Paychex second-quarter net jumped 19% to $236 million.

Tollbooth Index advanced 70.67 or 0.5% to 14,423.79 but for the year-to-date soared 4.8%.

Earnings Review

FedEx Corp (FDX), the package delivery services provider reported revenues in the second-quarter ending in November soared 9.2% from a year ago to $17.8 billion.

Net income in the quarter surged 20.6% to $935 million or $3.51 per diluted share from $775 million or $2.84 in the same quarter last year.

FedEx lowered fiscal 2019 diluted earnings per share to between $12.65 and $13.40 from the earlier estimate of $15.85 to $16.45 and capital spending of $5.6 billion.

General Mills Inc (GIS), the branded consumer foods maker reported revenues in the second-quarter ending on November 25 advanced 5% from a year ago to $4.4 billion.

Net income in the quarter surged 20.2% to $343.4 million or 57 cents per diluted share from $430.5 million or 74 cents in the same quarter last year.

General Mills reaffirmed fiscal 2019 net sales growth forecast in the range of flat to 1% increase and operating profit growth between 6% and 9% and diluted earnings per share growth in the range of flat to 3% decline.

Jabil Circuit Inc (JBL), the printed circuit board maker said net revenues in the first-quarter ending in November surged 16.1% from a year ago to $6.5 billion.

Net income in the quarter soared 94% to $123.6 million or 76 cents per diluted share from $63.8 million or 74 cents in the same quarter last year.

The circuit board maker forecasted fiscal 2019 net revenues between $5.8 billion to $6.4 billion and operating income in the range of $116 million to $168 million and diluted earnings per share in the range of 20 cents to 48 cents.

Micron Technology Inc (MU), the flash memory and solid-state drives maker reported revenues in the first-quarter ending on November 29 advanced 16% from a year ago to $7.9 billion.

Net income in the quarter jumped 22.2% to $3.3 billion or $2.81 per diluted share from $2.7 billion or $2.19 in the same quarter last year.

Paychex, Inc (PAYX), the outsourcing services provider stated total revenues in the second-quarter ending in November increased 7% from a year ago to $858.9 million.

Net income in the quarter jumped 19% to $235.8 million or 65 cents per diluted share from $198.8 million or 55 cents in the same quarter last year.

Paychex forecasted fiscal 2019 net income to increase approx 4% and diluted earnings per share to jump 4%.
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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