12:50 PM New York – Arcos Dorados said net in the fourth-quarter surged four-fold. Everi Holdings net loss widened after goodwill impairment charge. Hostess Brands net plunged 12% but revenues soared 22%. Rubicon Project net swung to a loss on 23% decline in revenues. Titan Intl net loss narrowed.
Tollbooth Index edged up 15.41 to 11,591.09.
Arcos Dorados Holding Inc
) soared 11.8% or 75 cents to $7.10 after the franchisee of McDonald''s reported revenues in the fourth-quarter ending in December jumped 5.5% from a year ago to $807.2 million.
Systemwide comparable store sales in the quarter soared 4.7%, excluding Venezuela 9.2%.
Net income in the quarter surged four-fold to $21.2 million or 10 cents per diluted share from $5.6 million or 3 cents per share in the same quarter last year.
The restaurants operator plans to open 45 to 50 new restaurants and total capital expenditures between $150 million and $180 million and approx $500 million up to fiscal 2019.
Everi Holdings Inc
) surged 19.1% or 62 cents to $3.86 after the video and mechanical reel gaming services provider said revenues in the fourth-quarter ending in December advanced 6.4% from a year ago to $217.5 million.
Net loss in the quarter widened to $217.3 million or $3.29 per diluted share from $86.6 million or $1.31 per share in the same quarter last year.
Everi said higher operating loss in the quarter includes non-cash goodwill impairment charge of $146.3 million.
Hostess Brands, Inc
) gained 1.8% or 28 cents to $16.18 after the bakery products maker reported revenues in the fourth-quarter ending in December soared 21.6% from a year ago to $178.8 million.
Net income in the quarter plunged 11.6% of $14.4 million or 14 cents per diluted share from $16.3 million in the same quarter last year.
The sweet baked goods maker reaffirmed net revenue estimate in fiscal 2017 of about $781 million and operating profit of $235 million
The Rubicon Project Inc
) tumbled 26.7% or $2.24 to $6.15 after the technology solution provider stated revenues in the fourth-quarter ending in December plummeted 22.7% from a year ago to $72.7 million.
Net in the quarter swung to a loss of $21.2 million or 44 cents per diluted share from profit of $20.4 million or 43 cents per share in the same quarter last year.
Titan International Inc
) plunged 10.9% or $1.34 to $10.93 after the wheels and tires maker said net sales in the fourth-quarter ending in December slid 0.2% from a year ago to $307.3 million.
Net loss in the quarter narrowed to $14.1 million or 26 cents per diluted share from $57.4 million or $1.07 per share in the same quarter last year.
Titan said facility in Sao Paulo, Brazil is scheduled to begin production of both LSW tires and wheels during the third-quarter of 2017.