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DAILY EARNINGS

Shoe Carnival, Tiffany, Thor Net Rise; Frontline Net Falls


Author: Mukesh Buch
ticker.com
Last Update: 9:32 AM ET November 29 2016

12:00 PM New York Atkore International fourth-quarter net swung to profit $16 million. Frontline third-quarter net fell 3% to $99 million. Shoe Carnival third-quarter net rose 3% to $10 million. Tiffany third-quarter net jumped 5% to $95 million. Thor Industries first-quarter net soared 56% to $79 million.

Tollbooth Index increased 27.67 or 0.3% to 11,130.52.

Earnings Review

Atkore International Group Inc (ATKR), the electrical raceway products maker reported revenues in the fourth-quarter ending in September dropped 4.9% from a year ago to $416.2 million.

Net in the quarter swung to profit $15.6 million or 24 cents per diluted share compared to the loss of $27.1 million or 43 cents per share from the same quarter last year.

Frontline Ltd (FRO), the Bermuda-focused crude oil and oil shipping group said total revenues in the third-quarter ending in September jumped 88.9% from a year ago to $576 million.

Net income in the quarter dropped 2.7% to $98.7 million or 63 cents per diluted share compared to the $96.1 million or 82 cents per share from the same quarter last year.

Pilgrim''s Pride Corporation (PPC), the chicken products retailer agreed to acquire a premium branded chicken producer GNP Company for about $350 million in cash.

The transaction is expected to close in the first-quarter of 2017.

REX American Resources Corp (REX), the ethanol producer stated revenues third-quarter ending in October advanced 5.1% from a year ago to $116.3 million.

Net income in the quarter surged 18.7% to $8.9 million or $1.36 per diluted share compared to the $7.5 million or $1.08 per share from the same quarter last year.

Shoe Carnival, Inc (SCVL), the family footwear retailer said net sales third-quarter ending on October 29 increased 1.8% from a year ago to $274.5 million.

Net income in the quarter rose 3.2% to $9.7 million or 54 cents per diluted share compared to the $9.4 million or 47 cents per share from the same quarter last year.

The footwear retailer lowered its earnings per share forecast in the year between $1.46 and $1.51 and revenues of about $1.01 billion compared to the earlier estimated range of $1.58 to $1.65 per share on revenue of $1.012 billion to $1.016 billion.

Tiffany & Co (TIF), the jeweller and specialty retailer reported total sales third-quarter ending in October rose 1% from a year ago to $949.3 million.

Comparable store sales in the quarter declined 2%.

Net income in the quarter jumped 5% to $95.1 million or 76 cents per diluted share compared to the $91 million or 70 cents per share from the same quarter last year.

Tiffany forecasted worldwide net sales in fiscal 2016 to decline by a low single-digit percentage and earnings per diluted share to fall by a mid-single-digit percentage from a year ago period.

Thor Industries, Inc (THO), the recreational vehicles maker said sales in the first-quarter ending in October jumped 65.8% from a year ago to $1.7 billion.

Net income in the quarter soared 55.9% to $78.7 million or $1.49 per diluted share compared to the $50.5 million or 96 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