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DAILY EARNINGS

Nordstrom Net Surges, J C Penney Net Loss Widens


Author: Mukesh Buch
ticker.com
Last Update: 12:58 PM ET May 12 2017

12:00 PM New York – ArcelorMittal first-quarter net swung to profit $1 billion. AdvanSix first-quarter net fell 0.4% to $27 million. Darling Ingredients first-quarter net surged to $6 million. J C Penney first-quarter net loss widened to $180 million. Nordstrom first-quarter net surged 37% to $63 million.

Tollbooth Index dropped 42.54 or 0.4% to 12,100.03.

Earnings Review

ArcelorMittal SA (MT), the Luxembourg-based steel producer reported sales in the first-quarter ending in March soared 20.1% from a year ago to $16.1 billion.

Net in the quarter swung to profit $1 billion or 33 cents per diluted share from a loss of $416 million or 23 cents in the same quarter last year.

“Our mining segment benefited from an increase in iron- ore shipped at market prices as well as the higher raw material price environment” and steel shipments increase by 5.1% said chairman and chief executive officer Lakshmi Mittal.

AdvanSix Inc (ASIX), the Nylon 6 resin maker said sales in the first-quarter ending in March surged 26% from a year ago to $376.7 million.

Net income in the quarter fell 0.4% to $27.3 million or 88 cents per diluted share from $27.4 million or 90 cents in the same quarter last year.

Darling Ingredients Inc (DAR), the edible and inedible ingredients maker stated revenues in the first-quarter ending in March jumped 12.9% from a year ago to $880.1 million.

Net income in the quarter surged to $5.8 million or 4 cents per diluted share from $1.1 million or 1 cent in the same quarter last year.

The ingredients maker said net income in the quarter surged on higher finished product pricing for fats and proteins.

J C Penney Company Inc (JCP), the department stores operator said total sales in the first-quarter ending in April dropped 3.6% from a year ago to $2.7 billion.

Comparable store sales in the quarter declined 3.5%

Net loss in the quarter widened to $180 million or 58 cents per diluted share from $68 million or 22 cents in the same quarter last year.

In the quarter, the retailer booked $220 million or 71 cents per share of restructuring charges associated with store closing announcement.

Nordstrom, Inc (JWN), the specialty fashion retailer reported total sales in the first-quarter ending in April jumped 2.7% from a year ago to $3.3 billion.

Comparable store sales in the quarter fell 0.8%.

Net income in the quarter surged 36.9% to $63 million or 37 cents per diluted share from $46 million or 26 cents in the same quarter last year.

The retailer reaffirmed fiscal 2017 diluted earnings per share between $2.75 and $3.00 and net sales to increase between 3% and 4% and flat comparable sales.
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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