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Market Update

Home Depot, Eagle Materials Report Solid Results on Construction Strength


Author: Mukesh Buch
ticker.com
Last Update: 12:22 PM EDT May 15 2018

12:15 PM New York City, New York American Midstream Partners net loss narrowed on higher revenues. Eagle Materials reports rising earnings as construction industry stays strong. Goodrich Petroleum net edged down despite revenues jumped 25%. Home Depot reports healthy same store sales growth.

Tollbooth Index declined 172.06 or 1.1% to 15,181.88 but for the year-to-date jumped 10.2%.

Earnings Review

American Midstream Partners, LP (AMID) advanced 2.1% or 23 cents to $11.24 after the natural gas services provider said revenues in the first-quarter ending in March soared 25.4% from a year ago to $205.8 million.

Net loss in the quarter narrowed to $13.8 million or 42 cents per diluted share from $30.2 million or 75 cents in the same quarter last year.

Corporate Capital Trust, Inc (CCT) slid 1 cent to $16.62 after the investment services provider stated total interest income in the first-quarter ending in March increased 1.1% from a year ago to $84.6 million.

Net loss in the quarter widened to $30.6 million from $11.7 million in the same quarter last year.

Eagle Materials Inc (EXP) gained 1.3% or $1.36 to $107.17 after the construction materials maker reported revenues in the fourth-quarter ending in March advanced 2% from a year ago to $284.7 million.

Net income in the quarter rose 1.9% to $37 million or 76 cents per diluted share from $36.3 million or 75 cents in the same quarter last year.

Goodrich Petroleum Corporation (GDP) slipped 1.3% or 19 cents to $14.45 after the oil and gas producer said revenues in the first-quarter ending in March surged 25.5% from a year ago to $11.8 million.

Net loss in the quarter edged down to $5.3 million or 47 cents per diluted share from $5.7 million or 63 cents in the same quarter last year.

The Home Depot Inc (HD) decreased 1.5% or $2.92 to $188.16 after the home improvement specialty retailer reported revenues in the first-quarter ending in March jumped 4.4% from a year ago to $24.9 billion.

Comparable sales in the quarter soared 4.2% and comparable sales in the U.S. advanced 3.9%.

Net income in the quarter surged 20% to $2.4 billion or $2.08 per diluted share from $2 billion or 1.67 in the same quarter last year.

The home improvement retailer forecasted fiscal 2018 revenue growth of about 6.7% and comparable sales to jump 5% and reaffirmed diluted earnings per share growth of about 28% from $9.31 in the fiscal 2017.

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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