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DAILY EARNINGS

McCormick, Paychex Net Soar; ConAgra Net Tumbles


Author: Mukesh Buch
ticker.com
Last Update: 3:53 AM ET June 30 2016

12:00 PM New York ConAgra fourth-quarter net tumbled 44% to $118 million. Constellation Brands first-quarter net surged 33% to $318 million. Darden fourth-quarter net soared 33% to $140 million. McCormick second-quarter net jumped 11% to $94 million. Paychex fourth-quarter net surged 11% to $178 million.

Tollbooth Index rose 6.36 to 10,489.76.

Earnings Review

Bassett Furniture Industries Inc (BSET), the home furnishing retailer said sales in the second-quarter ending on May 28 fell 4.4% from a year ago to $106.7 million.

Comparable store sales in the quarter dropped 3.9%.

Net income in the quarter plunged 24.4% to $3.4 million or 31 cents per diluted share compared to $4.5 million or 42 cents per share from the same quarter last year.

ConAgra Foods Inc (CAG), the packaged food company reported total sales in the fourth-quarter ending on May 29 declined 9.5% from a year ago to $2.83 billion.

Net income in the quarter tumbled 43.8% to $117.6 million or 27 cents per diluted share compared to $209.2 million or 48 cents per share from the same quarter last year.

Constellation Brands, Inc (STZ), the beer and wine producer said revenues in the first-quarter ending in May soared 13.9% from a year ago to $2.05 billion.

Net income in the quarter surged 33.4% to $318.3 million or $1.43 per diluted share compared to $238.6 million or $1.09 per share from the same quarter last year.

Darden Restaurants, Inc (DRI), the full service restaurants operator stated revenues in the fourth-quarter ending on May 29 dropped 4.8% from a year ago to $1.79 billion.

Same-restaurant sales in the quarter increased 1.7%.

Net income in the quarter soared 32.6% to $139.6 million or $1.09 per diluted share compared to $105.3 million or 82 cents per share from the same quarter last year.

The restaurants operator forecasted same-restaurant sales in the year to increase between 1% and 2% and diluted earnings per share in the range of $3.80 to $3.90.

Lindsay Corporation (LNN), the irrigation systems maker said revenues in the third-quarter ending in May plunged 12.1% from a year ago to $141.3 million.

Net income in the quarter plummeted 25.6% to $9.6 million or 90 cents per diluted share compared to $12.9 million or $1.10 per share from the same quarter last year.

McCormick & Company, Inc (MKC), the spices, seasoning mixes maker stated sales in the second-quarter ending in May rose 3.9% from a year ago to $1.06 billion.

Net income in the quarter jumped 11.3% to $93.8 million or 73 cents per diluted share compared to $84.3 million or 65 cents per share from the same quarter last year.

Paychex, Inc (PAYX), the outsourcing services provider said total revenues in the fourth-quarter ending in May soared 9% from a year ago to $753.9 million.

Net income in the quarter surged 11% to $178.1 million or 49 cents per diluted share compared to $161.2 million or 44 cents per share from 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