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DAILY EARNINGS

ITT, Petmed, Sysco Net Jump; AES Net Swings to Loss


Author: Mukesh Buch
ticker.com
Last Update: 3:40 AM ET May 08 2017

12:00 PM New York – AES first-quarter net swung to a loss of $24 million. First Data first-quarter net swung to profit $36 million. ITT first-quarter net surged 23% to $46 million. Sysco third-quarter net jumped 10% to $238 million. Tyson Foods second-quarter net plummeted 21% to $341 million.

Tollbooth Index rose 4.85 to 12,199.80.

Earnings Review

AES Corporation (AES), the electricity producer reported revenues in the first-quarter ending in March declined 6.1% from a year ago to $3.5 billion.

Net in the quarter swung to a loss of $24 million or 4 cents per diluted share from profit of $126 million or 19 cents in the same quarter last year.

“We reaffirmed forecast in fiscal 2017 for 8% to 10% average annual growth through 2020,"""" and """"Our strong cash flow and continued parent debt pay down keep us on track to achieve investment grade credit statistics,"""" said executive vice president and chief financial officer Tom O''Flynn.

First Data Corp (FDC) jumped 3.5% or 57 cents to $16.57 after the payment solutions provider reported revenues in the first-quarter ending in March rose 1% from a year ago to $2.8 billion.

Net in the quarter swung to profit $36 million or 4 cents per diluted share from a loss of $56 million or 6 cents in the same quarter last year.

ITT Inc (ITT) decreased 1.2% or 51 cents to $41.60 after the engineered critical equipment maker said revenues in the first-quarter ending in March jumped 3% from a year ago to $626 million.

Net income in the quarter surged 23% to $46 million or 52 cents per diluted share from $37.4 million or 41 cents in the same quarter last year.

Petmed Express Inc (PETS) surged 22.5% or $5.46 to $29.68 after the pet pharmacy services provider stated revenues in the fourth-quarter ending in March soared 14% from a year ago to $63 million.

Net income in the quarter jumped 38.9% to $7.5 million or 37 cents per diluted share from $5.4 million or 27 cents in the same quarter last year.

Sysco Corporation (SYY) fell 12 cents to $55.19 after the foodservice provider reported sales in the third-quarter ending in March soared 12.7% from a year ago to $13.5 billion.

Net income in the quarter rose 9.7% to $238.3 million or 44 cents per diluted share from $217.1 million or 38 cents in the same quarter last year.

Tyson Foods, Inc (TSN) plunged 5.9% or $3.78 to $59.56 after the food processing services provider reported revenues in the second-quarter ending in March fell 1.1% from a year ago to $9.1 billion.

Net income in the quarter plummeted 21.4% to $341 million or 92 cents per diluted share from $434 million or $1.10 in the 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