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Market Update

U.S. Movers: Acuity Brands, Schulman, Chrysler, Greenbrier, Zep


Author: Mukesh Buch
ticker.com
Last Update: 11:47 AM ET July 02 2013

11:40 AM New York Acuity Brands sales climbed but net slid and Schulman declined as sales and profit tumbled. Chrysler vehicles sales rose 8% in June and Ford Motor sales in the month rose 13%.

Acuity Brands, Inc. (AYI) surged 9% or $6.88 to $82.63 after the lighting solutions provider said net sales in the third quarter ending in May climbed 11% to $541.5 million. Net earnings in the quarter slid 6% to $31.7 million or 73 cents a diluted share compared to $33.6 million or 79 cents.

Gross profit in the quarter advanced 9% to $221 million and operating income declined 13% to $50 million.

A. Schulman, Inc. (SHLM) declined 6.4% or $1.78 to $26.05 after the plastic compounds supplier reported net sales in the third quarter ending in May tumbled 15% to $548.6 million. Net income in the quarter plunged 69% to $5.2 million or 18 cents a diluted share compared to $17 million or 57 cents.

The company added operating profit in the quarter tumbled 29% to $16.7 million.

For the year, the company expects adjusted diluted earnings per share between $1.70 and $1.80.

Constellation Brands, Inc. (STZ) slipped 2.2% or $1.20 to $51.94 after the wine company said net sales in the first quarter ending in May increased 6% to $673 million. Net income in the quarter slipped 26% to $53 million or 27 cents a diluted share compared to $72 million or 35 cents.

Gross profit for the quarter advanced 6% to $673.4 million and operating profit plunged 34% to $70.5 million.

For the year, the company expects comparable basis diluted earnings per share in the range of $2.60 to $2.90 and reported basis diluted earnings per share between $2.32 and $2.62.

Chrysler Group LLC said U.S. sales in June rose 8% to 156,686 vehicles. Total car sales climbed 11% to 49,719 units from 44,988 and truck sales jumped 7% to 106,967 units compared to 99,823 units.

The Greenbrier Companies, Inc (GBX) dropped 4.8% or $1.14 to $22.56 after the car equipment maker revenue in the third quarter ending in May rose 2% to $433.7 million. Net earnings in the quarter plummeted 14% to $15.7 million or 50 cents a diluted share compared to $13.8 million or 45 cents.

For the year, the company expects revenue in the range of $1.75 billion to $1.80 billion and adjusted EBITDA between $150 million and $155 million.

Investors Real Estate Trust (IRET) gained 2.4% or 21 cents to $8.68 after the real estate investment advisor stated revenues in the fourth quarter ending in May jumped 12% to $67 million. Net income in the quarter surged 154% to $7.1 million or 7 cents a diluted share compared to $2.8 million or 3 cents.

Zep Inc (ZEP) plunged 15.4% or $2.55 to $13.99 after the cleaning chemicals provider said net sales in the third quarter ending in May jumped 5.3% to $186 million. Net income in the quarter dropped 27.5% to $6.25 million or 28 cents a diluted share compared to $8.62 million or 39 cents.

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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