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Market Update

Toll Brothers Misses Earnings Estimates, AutoZone Beats Earnings View


Author: Mukesh Buch
ticker.com
Last Update: 6:09 AM EST December 05 2017

11:55 AM New York – AutoZone beats quarterly result expectations. Ascena Retail plunged. Bank of Montreal said profit impacted by hurricanes. J.Jill net plunged 23%. Toll Brothers stock eased off.

Tollbooth Index advanced 84.58 or 0.6% to 13,665.60.

Earnings Review

AutoZone, Inc (AZO) jumped 4.5% or $31.18 to $731.99 after the automobile parts and accessories retailer reported net sales in the first-quarter ending on November 18 increased 4.9% from a year ago to $2.6 billion.

Domestic same store sales in the quarter advanced 2.3%.

Net income in the quarter rose 1% to $281 million or $10 per diluted share from $278.1 million or $9.36 in the same quarter last year.

Ascena Retail Group Inc (ASNA) plunged 21.8% or 57 cents to $2.04 after the specialty retailer said net sales in the first-quarter ending on October 28 dropped 5.4% from a year ago to $1.59 billion.

Comparable store sales in the quarter declined 5%.

Net income in the quarter slumped 50% to $6.6 million or 3 cents per diluted share from $14.4 million or 7 cents in the same quarter last year.

The women’s specialty retailer estimated fiscal 2018 second-quarter net sales in the range of $1.62 billion to $1.66 billion and comparable sales to decline between 4% and 6%.

Bank of Montreal (BMO) slid 23 cents to $78.13 after Canada-based financial services provider reported total net interest income in the fourth-quarter ending in October soared 13.5% from a year ago to $4.2 billion.

Net income in the quarter declined 8.9% to $1.2 billion or $1.81 per diluted share from $1.3 billion or $2.02 in the same quarter last year.

Emcore Corporation (EMKR) tumbled 18.9% or $1.40 to $.03 after the optical chips maker stated revenues in the fourth-quarter ending in September jumped 14.1% from a year ago to $29.2 million.

Net income in the quarter surged 10% to $2.2 million or 8 cents per diluted share from $2 million or 7 cents in the same quarter last year.

J. Jill Inc (JILL) soared 6.8% or 66 cents to $6.90 after the women’s specialty retailer said total net sales in the third-quarter ending on October 28 rose 1.6% from a year ago to $162 million.

Comparable store sales in the quarter decreased 0.6%.

Net income in the quarter plunged 23.1% to $6 million or 14 cents per diluted share from $7.8 million or 18 cents in the same quarter last year.

The retailer forecasted fiscal 2017 total comparable sales to increase between 4% and 5% and diluted earnings per share in the range of 64 cents to 66 cents.

Toll Brothers Inc (TOLL) slumped 7.5% or $3.81 to $46.85 after the luxury residential homes maker reported revenues in the fourth-quarter ending in October advanced 9% from a year ago to $2.03 billion.

Net income in the quarter soared 67.7% to $191.9 million or $1.17 per diluted share from $114.4 million or 67 cents in the same quarter last year.

The home builder said net signed contract value jumped 20% to $1.75 billion and contract units surged 15% to 1,979 units and backlog value soared 27% to $5.06 billion.

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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