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

Hooker Furniture Net Jumps; Lamb Weston, RPM Intl Net Plunge


Author: Mukesh Buch
ticker.com
Last Update: 3:58 AM ET April 06 2017

12:00 PM New York Constellation Brands fourth-quarter net surged 86% to $452 million. Fred''s fourth-quarter net loss widened to $23 million. Lamb Weston third-quarter net plunged 22% to $84 million. MSC Indl Direct second-quarter net jumped 8% to $54 million. RPM International third-quarter net tumbled 36% to $12 million.

Tollbooth Index increased 34.53 or 0.3% to 11,595.10.

Earnings Review

Constellation Brands, Inc (STZ), the beer, wine and spirits maker reported revenues in the fourth-quarter ending in February advanced 5.9% from a year ago to $1.8 billion.

Net income in the quarter surged 85.7% to $452 million or $2.09 per diluted share from $243.4 million or $1.10 in the same quarter last year.

CarMax, Inc (KMX), the new and used vehicles retailer said net sales in the fourth-quarter ending in February jumped 9.3% from a year ago to $4.05 billion.

Used unit sales in comparable stores in the quarter soared 8.7% and total used unit sales rose 13.4% while total wholesale unit sales dropped 1.2%.

Net income in the quarter surged 8.2% to $152.6 million or 81 cents per diluted share from $141 million or 71 cents in the same quarter last year.

Fred''s, Inc (FRED), the retail discount stores operator said net sales in the fourth-quarter ending on April 1 dropped 4.5% from a year ago to $529.7 million.

Comparable store sales in the quarter slumped 3.6%.

Net loss in the quarter widened to $22.5 million or 60 cents per diluted share from $3.9 million or 11 cents in the same quarter last year.

The retailer said total sales in the five-week period ending on April 1 slipped 2.7% to $208.6 million from $214.3 million in March 2016 and comparable store sales for March decreased 0.5%.

Hooker Furniture Corporation (HOFT), the home furnishings provider stated revenues in the fourth-quarter ending on January 29 surged 187.2% from a year ago to $173.9 million.

Net income in the quarter jumped 165% to $10.9 million or 95 cents per diluted share from $4.1 million or 38 cents in the same quarter last year.

Lamb Weston Holdings Inc (LW), the frozen appetizer and vegetable products supplier sales in the third-quarter ending on February 26 soared 5% from a year ago to $768.5 million.

Net income in the quarter plunged 22% to $84.2 million or 57 cents per diluted share from $107 million or 71 cents in the same quarter last year.

MSC Industrial Direct Co Inc (MSM), the metalwork and services provider said net sales in the second-quarter ending on March 4 increased 2.9% from a year ago to $703.8 million.

Net income in the quarter jumped 8.1% to $53.6 million or 93 cents per diluted share from $49.5 million or 80 cents in the same quarter last year.

The metalwork and services provider forecasted net sales in the third-quarter between $734 million and $748 million and diluted earnings per share in the range of $1.05 and $1.09.

RPM International Inc (RPM), the paints and coatings maker stated sales in the third-quarter ending in February rose 3.4% from a year ago to $1 billion.

Net income in the quarter tumbled 35.8% to $11.9 million or 9 cents per diluted share from $18.6 million or 14 cents in the same quarter last year.
  1
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc