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

Lennar, Paychex Net Jump; AZZ Net Plunges 17%


Author: Mukesh Buch
ticker.com
Last Update: 1:39 PM EDT October 03 2017

11:45 PM New York AZZ second-quarter net plunged 17% to $8 million. Lennar third-quarter net jumped 6% to $249 million. Paychex first-quarter net increased 5% to $228 million. Park Electrochemical second-quarter net tumbled 74% but revenues rose.]

Tollbooth Index rose 11.94 to 12,677.12.

Earnings Review

AZZ Inc (AZZ), the electrical equipment and engineered services provider said revenues in the second-quarter ending in August fell 2.4% from a year ago to $190.4 million.

Net income in the quarter plunged 16.9% to $8.3 million or 32 cents per diluted share from $10 million or 38 cents in the same quarter last year.

Intuit Inc (INTU), the business and financial software developer reaffirmed fiscal 2018 revenues forecast in the range of $5.64 billion to $5.74 billion, growth of 9% to 11% and operating income in the range of $1.49 billion to $1.54 billion, increase of 6% to 10% and diluted earnings per share between $4 and $4.10.

Lennar Corporation (LEN), the home builder reported revenues in the third-quarter ending in August soared 15% from a year ago to $3.3 billion.

Net income in the quarter jumped 5.7% to $249.2 million or $1.06 per diluted share from $235.8 million or $1.01 in the same quarter last year.

The home builder said total deliveries in the quarter surged 12% to 7,598 homes and as of August 31, total backlog jumped 10% to 10,212 homes and backlog in dollar value soared 18% to $4.1 billion.

Paychex, Inc (PAYX), the outsourcing services provider reported revenues in the first-quarter ending in August advanced 4% from a year ago to $816.8 million.

Net income in the quarter increased 5% to $227.8 million or 63 cents per diluted share from $217.4 million or 60 cents in the same quarter last year.

Paychex revised higher fiscal 2018 revenues in the Human Resource Services segment to jump between 12% and 14% and total revenues to increase about 6% and operating profit to soar in the range of 39% to 40%.

Park Electrochemical Corp (PKE), the integrated circuits maker stated revenues in the second-quarter ending on August 27 rose 2.4% from a year ago to $29.8 million.

Net income in the quarter tumbled 73.7% to $0.5 million or 3 cents per diluted share from $2 million or 10 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