S&P 500 2,441.20 17.28
Gold$1,224.80 $5.30
Nasdaq 6,253.81 61.92
Crude Oil $60,490.00      $-1570.00
DAILY EARNINGS

FedEx, Jabil Circuit, Lennar Net Climb


Author: Mukesh Buch
ticker.com
Last Update: 11:54 AM ET December 18 2013

10:45 AM New York FedEx second-quarter net climbed 14% to $500 million. General Mills second-quarter net rose 1.5% to $550 million. Jabil Circuit fourth-quarter net climbed 11% to $118 million. Lennar fourth-quarter net surged 32% to $164 million. VeriFone fourth-quarter net loss swung to a loss $248 million.

Earnings Review

FedEx Corporation (FDX), the package ground delivery service provider reported revenue in the second-quarter ending in November grew 3% to $11.4 billion.

Net income in the quarter climbed 14% to $500 million or $1.57 a diluted share compared to $438 million or $1.39.

Revenue from the FedEx express segment slightly lowered to $6.84 billion and revenue from FedEx ground segment soared 10% to $2.85 billion from a year ago. Freight segment revenue jumped 4% to $1.43 billion.

FedEx lifted its full-year earnings per share growth forecast to between 8% and 14% compared to its previous growth range of 7% to 13%.

General Mills, Inc (GIS), the food processing company reported net sales in the second-quarter ending on November 24 were flat at $4.88 billion. Net income in the quarter rose 1.5% to $549.9 million or 84 cents a diluted share compared to $541.6 million or 82 cents.

General Mills reaffirmed its guidance for fiscal 2014 adjusted diluted earnings per share between $2.87 and $2.90.

HEICO Corporation (HEI), the jet engine and aircraft components maker stated net sales in the fourth-quarter ending in October climbed 19% to a record $287.4 million.

Net income in the quarter soared 25% to $29.8 million or 44 cents a diluted share compared to $23.8 million or 36 cents.

Jabil Circuit, Inc (JBL), the electronic products maker reported net revenue in the fourth-quarter ending in November slid $4.61 billion.

Net income in the quarter climbed 11.4% to $117.9 million or 57 cents a diluted share compared to $105.8 million or 51 cents.

In a separate press release, today the company said signed an agreement with iQor Holdings, Inc. for the sale of its aftermarket services business for $725 million.

Lennar Corporation (LEN), the homebuilder and financial service provider said revenue in the fourth-quarter ending in November surged 42% to $1.9 billion.

Net earnings in the quarter surged 32% to $164.1 million or 73 cents a diluted share compared to $124.3 million or 56 cents.

New orders in the quarter jumped 13% to 4,498 homes; in dollar value surged 34% to $1.4 billion. Backlog climbed 19% to 4,806 homes.

Quanex Building Products Corporation (NX), the construction company reported total revenues in the fourth-quarter ending in October climbed 17% to $275.3 million. Net in the quarter swung to a loss $1.20 million or 3 cents a diluted share compared to $0.97 million or 3 cents.

VeriFone Systems Inc (PAY), the electronic payment service provider said net revenue in the fourth-quarter ending in October jumped 11.2% to $431 million.

Net in the quarter swung to a loss $247.7 million or $2.26 a diluted share compared to a net income of $27 million or 24 cents.

For the year, net revenues declined 9% to $1.70 billion compared to the $1.87 billion a year ago.

The company forecasted non-GAAP net revenue for the fiscal first quarter of 2014 between $425 million and $430 million and for the year non-GAAP net income per diluted share of $1.35 to $1.40.
  1
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc