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DAILY EARNINGS

Monsanto, Walgreens Net Surge, Greenbrier Net Declines 23%


Author: Mukesh Buch
ticker.com
Last Update: 3:37 AM ET April 05 2017

12:00 PM New York Schulman second-quarter net swung to profit but revenues fell. Greenbrier second-quarter net declined 23% to $35 million. Monsanto second-quarter net surged 27% to $1.4 billion. Walgreens Boots Alliance second-quarter net jumped 14% to $1.1 billion.

Tollbooth Index increased 52.20 or 0.5% to 11,635.32.

Earnings Review

A Schulman Inc (SHLM), plastic formulated products supplier said net sales in the second-quarter ending in February fell 3.9% from a year ago to $568.7 million.

Net in the quarter swung to profit $3.2 million or 11 cents per diluted share from a loss of $0.3 million or 1 cent in the same quarter last year.

In the fiscal full-year, Schulman estimated diluted earnings per share remains in the range of $2.08 to $2.18.

Greenbrier Companies Inc (GBX), the railroad freight car equipment maker said in the second-quarter ending in February plunged 15.4% from a year ago to $566.3 million.

Net income in the quarter declined 23.2% to $34.5 million or $1.09 per diluted share from $44.9 million or $1.41 in the same quarter last year.

In fiscal 2017, Greenbrier forecasted revenues between $2 billion and $2.4 billion and diluted earnings per share in the range of $3.25 to $3.75 and deliveries in the range of 14,000 units to 16,000 units.

Separately, The Greenbrier Companies, Inc and Japan-based Mitsubishi UFJ Lease & Finance sign agreement for more than $1 billion for railcar business in the North America.

MUL intends to grow its business from 5,000 railcars to 25,000 railcars in the next four years, including multi-year purchase commitment for 6,000 new railcars through 2020 and also agreed to obtain all new railcars exclusively from Greenbrier through 2023.

Monsanto Company (MON), the agricultural products maker reported total net sales in the second-quarter ending in February soared 13.3% from a year ago to $5.1 billion.

Net income in the quarter surged 27.3% to $1.4 billion or $3.09 per diluted share from $1.1 billion or $2.41 in the same quarter last year.

The agricultural products maker said higher sales in the quarter mainly on the corn seeds and traits sales increase of 8% and soybean seeds and traits sales advanced 10.2%.

Monsanto said it remains confident the deal with Germany-based Bayer AG will clear all regulatory approvals and its also on track to close by the end of this year.

Walgreens Boots Alliance Inc (WBA), the drug retailer reported revenues in the second-quarter ending in February fell 2.4% from a year ago to $29.4 billion.

Net income in the quarter jumped 14% to $1.1 billion or 98 cents per diluted share from $930 million or 85 cents in the same quarter last year.

Walgreens said operating income in the quarter declined 20.5% to $1.5 billion from the same quarter a year ago.

The drugs retailer forecasted diluted earnings per share in fiscal 2017 in the range of $4.90 to $5.08.

As previously disclosed on January 30, Walgreens no longer expects any material accretion from the Rite Aid acquisition this 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