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DAILY EARNINGS

FedEx, Lennar Net Soar; Adobe, General Mills Net Fall


Author: Mukesh Buch
ticker.com
Last Update: 12:47 PM ET September 17 2014

12:30 AM New York Adobe third-quarter net plunged 46% to $45 million. Cracker Barrel fourth-quarter net soared 14% to $39 million. FedEx first-quarter net surged 24% to $606 million. General Mills first-quarter net tumbled 24.8% to $345 million. Lennar third-quarter net climbed 47% to $178 million.

Tollbooth Index slid 0.1% or 13.13 to 9,477.60.

Earnings Review

Adobe Systems Inc (ADBE), the diversified software company reported revenue in the third-quarter ending on August 29 rose 0.4% to $1 billion from a year ago period.

Net income in the quarter plunged 46.1% to $44.7 million or 9 cents a diluted share compared to $83 million or 16 cents from a same quarter last year.

Cracker Barrel Old Country Store, Inc (CBRL), the restaurant and bar operator said total revenue in the fourth-quarter ending on August 1 jumped 2.8% to $692.7 million from a year ago period.

Comparable store restaurant sales in the quarter increased 1.2% and retail sales at comparable store climbed 2.6%. The average menu price increase nearly 2.2%.

Net income in the quarter soared 14% to $39.2 million or $1.63 a diluted share compared to $34.3 million or $1.43 from a same quarter last year.

The restaurants operator forecasted total revenue for the fiscal 2015 between $2.75 billion and $2.80 billion and earnings per diluted share in the range of $5.80 to $5.95.

FedEx Corporation (FDX), the air freight and logistics company reported revenue in the first-quarter ending in August jumped 6% to $11.7 billion from a year ago period.

Net income in the quarter surged 24% to $606 million or $2.10 a diluted share compared to $489 million or $1.53 from a same quarter last year.

FedEx reaffirmed its fiscal 2015 earnings forecast of $8.50 to $9.00 per diluted share.

General Mills, Inc (GIS), the consumer foods maker net sales in the first-quarter ending on August 24 slipped 2% to $4.27 billion from a year ago period.

Net earnings in the quarter tumbled 24.8% to $345.2 million or 55 cents a diluted share compared to $459.3 million or 70 cents from a same quarter last year.

Lennar Corporation (LEN), the homebuilder stated revenue in the third-quarter ending in August jumped 26% to $2 billion from a year ago period.

Net earnings in the quarter climbed 47.3% to $177.8 million or 78 cents a diluted share compared to $120.7 million or 54 cents from a same quarter last year.
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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