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DAILY EARNINGS

United Natural Foods Net Declines; IDT, Navistar Net Swings to Loss


Author: Mukesh Buch
ticker.com
Last Update: 11:30 AM ET June 07 2017

12:00 PM New York Brown-Forman first-quarter net tumbled 72% to $144 million. IDT third-quarter net swung to a loss of $5 million. Navistar International second-quarter net swung to a loss of $80 million. United Natural Foods third-quarter net declined 4% to $37 million. Village Super Market third-quarter net rose 2% to $6 million.

Tollbooth Index fell 14.37 to 12,288.58.

Earnings Review

Brown-Forman Corporation ((BF.A)), the spirit and wine maker reported net sales in the first-quarter ending in April declined 5% from a year ago to $694 million.

Net income in the quarter tumbled 72% to $144 million or 37 cents per diluted share from $522 million or $1.30 in the same quarter last year.

In fiscal 2016, Brown-Forman sold its two premium liqueur brand Southern Comfort and Tuaca to privately held spirits and wines maker Sazerac Company, Inc.

The spirit and wine maker forecasted fiscal 2017 net sales in the range of 4% to 5%, led by the Jack Daniel''s family of brands and its premium bourbon and tequila brands and diluted earnings per share between $1.80 and $1.90.

IDT Corporation (IDT), the multiple communications and payment services provider said revenues in the third-quarter ending in April advanced 4.2% from a year ago to $370 million.

Net in the quarter swung to a loss of $4.8 million or 21 cents per diluted share from profit of $4.2 million or 19 cents in the same quarter last year.

Mesa Laboratories, Inc (MLAB), the quality control instruments maker stated revenues in the fourth-quarter ending in March fell 2% from a year ago to $24.3 million.

Net income in the quarter declined 10% to $3.6 million or 94 cents per diluted share from $4 million or $1.06 in the same quarter last year.

Navistar International Corp (NAV), the trucks, buses and military vehicles maker reported revenues in the second-quarter ending in March slumped 5% from a year ago to $2.1 billion.

Net in the quarter swung to a loss of $80 million or 86 cents per diluted share from profit of $4 million or 5 cents in the same quarter last year.

Navistar said revenue decline primarily reflects lower volumes in its Core (Class 6-8 trucks and buses in the United States and Canada) market and the truck maker took a $60 million charge for used truck inventories.

The trucks and buses maker estimated fiscal 2017 retail deliveries of Class 6-8 trucks and buses in the United States and Canada in the range of 305,000 units to 335,000 units revenues are expected to match 2016.

United Natural Foods, Inc (UNFI), the natural, organic and specialty products retailer said revenues in the third-quarter ending in April jumped 11.1% from a year ago to $2.4 billion.

Net income in the quarter declined 4.4% to $36.6 million or 72 cents per diluted share from $38.3 million or 76 cents in the same quarter last year.

The food retailer and distributor lifted fiscal 2017 revenues forecast $9.29 billion to $9.34 billion, an increase of approx 9.7% to 10.3% from fiscal 2016 compared to previous guidance of $9.38 billion to $9.46 billion.

However, diluted earnings per share are unchanged from the range given on March 8, 2017.

Village Super Market, Inc (VLGEA), the food and nonfood products retailer stated revenues in the third-quarter ending in April edged up 1% from a year ago to $392 million.

Same store sales in the quarter increased 1.1%.

Net income in the quarter rose 1.7% to $6 million compared to $5.9 million and diluted earnings per share were flat at 42 cents 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