Bulletin
Investor Alert

Topics

Income

Video

Gearing Up for Big Tech Earnings

  • Gearing Up for Big Tech Earnings Gearing Up for Big Tech Earnings 9:48
1:19 a.m. Dec. 2, 2021 - By Tomi Kilgore
GEO to de-REIT, to stop paying dividendShares of GEO Group Inc. slipped 0.1% in premarket trading Thursday, after the corrections facility company announced plans to stop being a real estate investment trust (REIT), and become a taxable C corporation, effective fir the year ending Dec. 31. The company has also decided to stop paying a quarterly dividend. The company said it has decided to make the change in its corporate status and dividend policy to give it additional flexibility to allocate cash towards reducing debt. GEO said it is reviewing potential sales of company-owned businesses and assets. "We believe that these are prudent steps, which are in the best interests of our shareholders and other stakeholders," said Chief Executive George Zoley. The company expects to incur a charge of about $75 million and $34 million in income tax expense in the fourth quarter as a result of the restructuring. GEO expects 2021 adjusted earnings per share of $1.14 to $1.16, compared with the FactSet EPS consensus of $1.43. The stock has lost 8.6% year to date through Wednesday, while the SPDR Real Estate Select Sector ETF has rallied 27.9% and the S&P 500 has gained 20.2%.
2:16 a.m. Dec. 1, 2021 - By Tomi Kilgore
G-III Apparel stock jumps after profit rises above expectations and full-year outlook was raisedShares of G-III Apparel Group Ltd. jumped 5.4% in premarket trading Wednesday, after the apparel and accessories company, which brands include DKNY, Calvin Klein and Tommy Hilfiger, reported fiscal third-quarter profit that beat expectations and revenue that matched, and raised its full-year outlook, as "strong demand" helped offset pressure on margins from rising costs. Net income for the quarter to Oct. 31 rose to $106.7 million, or $2.16 a share, from $63.2 million, or $1.29 a share, in the year-ago period. The FactSet consensus for earnings per share was $1.79. Sales increased 22.8% to $1.02 billion, matching the FactSet consensus. Cost of sales increased 26.3% to $667.9 million, to lower gross margin to 34.2% from 36.0%. The company raised its EPS guidance range for the year ending Jan. 31 to between $3.67 and $3.75 from between $3.10 and $3.20, and lifted its sales outlook to $2.77 billion from $2.70 billion. "Given the strong demand we are seeing across our brands, we are well positioned for the holiday season," said Chief Executive Morris Goldfarb. "We are raising our full year guidance and expect to deliver our highest annual earnings in our company's history." The stock has dropped 9.0% over the past three months through Tuesday while the S&P 500 has gained 1.0%.
1:56 a.m. Dec. 1, 2021 - By Ciara Linnane
Build-A-Bear shares slide premarket despite earnings beat, special dividend and raised guidanceBuild-A-Bear Workshop Inc. shares slid 6% in premarket trade Wednesday, even after the company said it generated record revenue in the third quarter, declared a special dividend, authorized up to $25 million in share buybacks and raised its full-year guidance. The St. Louis-based company posted net income of $5.9 million, or 36 cents a share, for the third quarter, up from $1.7 million, or 11 cents a share, in the year-earlier period. Adjusted per-share earnings came to 38 cents a share. Revenue rose to $95.1 million from $74.7 million a year ago. FactSet did not offer consensus estimates. The company said the positive momentum has continued into the fourth quarter, and said it now expects full-year revenue to range from $390 million to $400 million, compared with earlier guidance of $375 million to $385 million. The board has approved a special cash divided of $1.25 a share to be paid Dec. 27 to shareholders of record as of Dec. 10. Shares have gained 299.5% in the year to date, while the S&P 500 has gained 21.6%.
1:14 a.m. Nov. 29, 2021 - By Tomi Kilgore
Li Auto stock surges toward a 5-month high after big revenue beat, deliveries nearly tripledShares of Li Auto Inc. shot up 7.8% toward a five-month high in premarket trading Monday, after the China-based electric vehicle maker reported third-quarter revenue that rose well above expectations as deliveries nearly tripled, as "strong order intake and users' rising acceptance of smart electric vehicles" helped offset headwinds from chip supply shortages. The net loss narrowed to RMB21.5 million ($3.3 million), or RMB0.02 per American depositary share, from a loss of RMB320.7 million, or RMB0.52 per ADS in the year-ago period. Excluding nonrecurring items, net income rose to RMB335.7 million from RMB16.0 million. Total revenue hiked up 209.7% to RMB7.78 billion ($1.21 billion), above the FactSet consensus of RMB7.26 billion, as cost of sales grew 196.1% to RMB5.96 billion. Deliveries jumped 190.0% to 25,116 vehicles, while vehicle sales increased 199.7% to RMB7.39 billion ($1.15 billion) and vehicle margin rose to 21.1% from 19.8%. For the fourth quarter, the company expects deliveries of between 30,000 and 32,000 vehicles and revenue of between RMB8.82 billion and RMB9.41 billion, compared with the FactSet consensus of RMB8.78 billion. The stock has rallied 10.4% over the past three months through Friday, while the S&P 500 has gained 1.9%.
3:20 a.m. Nov. 23, 2021 - By Tomi Kilgore
J.M. Smucker stock surges after profit and sales beats, even as cost of sales jumpShares of J.M. Smucker Co. hiked up 2.8% toward a three-month high in premarket trading Tuesday, after the food company, which brands include Folgers, Milk-Bone, Jif and Smuckers, reported fiscal third-quarter profit and sales that beat expectations even as cost of sales jumped, and lifted its full-year outlook. Net income for the quarter to Oct. 31 fell to $206.0 million, or $1.90 a share, from $230.8 million, or $2.02 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share rose to $2.43 from $2.39, beating the FactSet consensus of $2.24. Sales grew 0.8% to $2.05 billion, topping the FactSet consensus of $2.01 billion, while cost of sales grew 10.1% to lower gross margin to 34.7% from 40.2%. U.S. Retail Pet Foods sales fell 1.% to $701.6 million, Coffee sales rose 8% to $645.1 million and Consumer Foods sales dropped 8% to $441.2 million. For fiscal 2022, the company raised its adjusted EPS guidance range to $8.35 to $8.75 from $8.25 to $8.65 and its sales growth outlook to negative 0.5% to positive 0.5% from negative 2.5% to 1.5%. The stock has slipped 2.8% over the past three months through Monday, while the S&P 500 has gained 4.5%.
5:07 a.m. Nov. 16, 2021 - By Tonya Garcia
On Holding stock soars after surprise profitOn Holding AG stock soared 21% in early Tuesday trading after the newly-public athletic company reported a surprise third-quarter profit. Net income totaled CHf 13.0 million (US$14.0 million), or CHf 0.04 per share, up from CHf 8.1 million, or CHf 0.03 per share, last year. Sales totaled CHf 218.0 million (US$234.8 million), up from CHf 130.1 million last year. The FactSet consensus was for a loss of CHf 0.11 per share and sales of CHf 182.8 million. On's Co-Chief Executive Martin Hoffmann called the most recent quarter the "strongest" in the company's history in terms of sales. "Recent supply chain challenges will lead to a transitory supply shortage in the fourth quarter and the first half of 2022," he said in a statement. "But since early November, all our production factories are open, and our outlook on net sales and adjusted EBITDA exceeds our original assumptions." The company is guiding for sales of CHF 710 million for the full year, up about 67% from 2020. The FactSet consensus is for CHf 678.6 million. On is guiding for sales of CHF 960 million for 2022. On Holding stock began trading on Sept. 15. Shares have soared by nearly 50% over the past month. The S&P 500 index is up 5.1% for the last month.
1:49 a.m. Nov. 16, 2021 - By Tomi Kilgore
Aramark earnings rose above forecasts, sees revenue approaching pre-COVID levels by end of next yearAramark reported Tuesday a big fiscal fourth-quarter profit beat and revenue that rose above forecasts. Although the food, facilities and uniform services company still expects a negative COVID impact of an estimated $1.6 billion to $1.9 billion in fiscal 2022, revenue should approach pre-COVID levels by the end of the year, helped by new business and pricing pass throughs. The company swung to net income of $35.4 million, or 14 cents a share, from a loss of $148.6 million, or 59 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share rose to 56 cents from 21 cents, well above the FactSet consensus of 19 cents. Revenue grew 31.9% to $3.55 billion, beating the FactSet consensus of $3.29 billion, as U.S. food and support services (FSS) revenue grew 51.4% to $2.16 billion and uniform and career apparel revenue slipped 1.7%. International FSS revenue increased 21.6% to $765 million. Aramark's stock, which was still inactive in premarket trading, has slipped 1.3% year to date, while the S&P 500 has gained 24.7%.
2:02 a.m. Nov. 12, 2021 - By Tomi Kilgore
Spectrum Brands results including HHI top profit and revenue expectationsSpectrum Brands Holdings Inc. reported Friday fiscal fourth-quarter profit and sales including HHI results that topped expectations, despite challenges resulting from ongoing COVID-19 pandemic-related supply chain disruptions. Shares of the household products company, which brands include Remington, George Foreman, SmartBones and Black Flag, were still inactive in premarket trading. The company had announced in September plans to for $4.3 billion to ASSA Abloy, in deal that has not yet closed. Including the HHI results, net income for the quarter to Sept. 30 rose to $50.3 million, or $1.16 a share, from $45.5 million, or $1.05 a share, in the year-ago period. Excluding nonrecurring items, adjusted EPS came to $1.11, above the FactSet consensus of $1.10. Sales slipped 1.2% to $1.16 billion, above the FactSet consensus of $1.10 billion, as home and personal care sales grew 2.3%, global pet care sales rose 9.1% and home and garden sales fell 7.3%. The company expects to fiscal 2022 sales to grow in the mid-to-high single-digits percentage range, even after absorbing an expected additional level of inflation of about $230 million to $250 million. The stock has rallied 17.2% over the past three months while the S&P 500 has gained 4.2%.
2:00 a.m. Nov. 12, 2021 - By Ciara Linnane
Sustainable jewelry company Brilliant Earth shares rally premarket after first earning as public company top estimatesSustainable jewelry company Brilliant Earth Group Inc. shares jumped 7.6% in premarket trade Friday, after the company below past estimates in its first earnings report as a public company. The San Francisco-based Brilliant Earth posted net income of $4 million, or 1 cent a share for the third quarter, after net income of $8.0 million a year ago. Adjusted per-share earnings came to 9 cents, ahead of the 1 cent FactSet consensus. Sales rose 33% to $95.2 million from $71.4 million a year ago, also ahead of the $87.1 million FactSet consensus. The company went public in late September with the goal of making sustainable jewelry aimed at Gen Z and millennial customers. It is now expecting fiscal 2021 sales to total $366 million to $369 million, above the FactSet consensus for $357.2 million. Shares have gained 17% over their IPO issue price of $12.
2:00 a.m. Nov. 11, 2021 - By Tomi Kilgore
Tapestry stock jumps after earnings beat, raised outlook and new $1 billion stock buyback programShares of Tapestry Inc. shot up 4.4% in premarket trading Thursday, after fashion company, with brands including Coach and Kate Spade, reported fiscal first-quarter profit and revenue that beat expectations and raised the full-year outlook, citing "strong" customer engagement and increased demand. Separately, the company announced a new $1 billion stock repurchase program. Net income for the quarter to Oct. 2 slipped to $226.9 million, or 80 cents a share, from $231.7 million, or 83 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of 82 cents beat the FactSet consensus of 70 cents. Sales grew 26.3% to $1.48 billion, above the FactSet consensus of $1.44 billion, as Coach sales rose 27% to $1.11 billion, Kate Spade sales increased 25% to $299.5 million and Stuart Weitzman sales grew 18% to $66.5 million. For fiscal 2022, the company raised its EPS guidance range to $3.45 to $3.50 from $3.30 to $3.35 and its revenue outlook to "approaching" $6.6 billion from $6.4 billion. The stock has declined 3.4% over the past three months through Wednesday, while the S&P 500 has gained 4.5%.
1:18 a.m. Nov. 11, 2021 - By Ciara Linnane
Yeti shares up premarket after earnings beat and raised guidanceYeti Holdings Inc. shares jumped 1.6% in premarket trade Thursday, after the maker of cups and coolers for outdoor activities beat estimates for the third quarter and raised its guidance. The company posted net income of $52.9 million, or 60 cents a share, for the quarter, up from $51.4 million, or 58 cents a share, in the year-earlier period. Adjusted per-share earnings came to 64 cents, ahead of the 60 cent FactSet consensus. Sales rose to $362.6 million from $294.6 million a year ago, also ahead of the $358 million FactSet consensus. "While we are not immune to the confluence of supply chain disruptions and cost pressures that are pervasive in the market, our team's ongoing execution has supported our ability to once again raise both our top and bottom line outlooks for the year," said CEO Matt Reintjes in a statement. The company is now expecting full-year sales to grow 28% to 29%, compared with prior guidance of up 26% to 28%. It expects full-year adjusted EPS of $2.51 to $2.53, compared with prior guidance of $2.42 to $2.46. Shares have gained 51% in the year to date, while the S&P 500 has gained 23.7%.
1:16 a.m. Nov. 11, 2021 - By Tomi Kilgore
Schick, Wet Ones parent Edgewell beats profit and sales expectations, gives in-line outlookEdgewell Personal Care Co. reported Thursday fiscal fourth-quarter profit that more than doubled and revenue that rose above expectations, and while demand is improving supply-chain disruptions are ongoing and inflation is "significant." Shares of the consumer products company, which brands include Schick, Playtex, Hawaiian Tropic and Wet Ones, were still inactive in premarket trading. Net income for the quarter to Sept. 30 rose to $44.1 million, or 80 cents a share, from $21.0 million, or 38 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $1.01 beat the FactSet consensus of 84 cents. Sales grew 11.1% to $543.2 million, above the FactSet consensus of $522.4 million, while cost of sales increased 11.9%. Wet shave sales rose 3.8%, sun and skin care sales jumped 37.9% and feminine care sales increased 9.9%. For fiscal 2022, the company expects adjusted EPS of $2.98 to $3.26, surrounding the FactSet consensus of $3.07, and sales growth in the low-single digit percentage range, while the FactSet sales consensus of $2.10 billion implies 3.7% growth. The stock has dropped 15.5% over the past three months, while the S&P 500 has gained 4.5%.
2:18 a.m. Nov. 10, 2021 - By Ciara Linnane
UPDATE: Perrigo shares slide 10% premarket after earnings miss and profit warning Perrigo Plc , the Dublin-based consumer self-care products maker, posted weaker-than-expected third-quarter earnings on Wednesday and issued a profit warning for the full year, after the pandemic added to supply chain issues to leave it with the most unshipped orders ever amid a shortage of trucks and drivers. Perrigo posted a loss of $54 million, or 40 cents a share, for the quarter, after income of $26 million, or 19 cents a share, in the year-earlier period. Adjusted per-share earnings came to 45 cents, below the 65 cent FactSet consensus. Sales rose to $1.04 billion from $1.00 billion a year ago, also below the FactSet consensus of $1.05 billion. CEO Murray S. Kessler said the challenging operating environment falls into three categories: " a historically weak cough/cold season affecting first quarter sales and manufacturing efficiencies, higher input costs and the sudden supply chain disruption, primarily in the form of a shortage of truck drivers, which began in the third quarter. In combination, these factors are forecasted to negatively impact total year adjusted diluted EPS by $0.79, which could only be partially offset, leading us to lower our earnings guidance." The company is now expecting full-year adjusted EPS of $2.00 to $2.10, well below the FactSet consensus of $3.05. Shares fell 10% premarket and are up 6% in the year through Tuesday, while the S&P 500 has gained 25%.
2:04 a.m. Nov. 10, 2021 - By Ciara Linnane
Battery maker Energizer's Q4 beat weighs against soft guidance Battery maker Energizer Holdings Inc. posted better-than-expected earnings for its fiscal fourth quarter through Sept. 30, but . The company posted net income of $79.1 million, or $1.14 a share, for the quarter, after a loss of $55.6 million, or 67 cents a share, in the year-earlier period. Adjusted per-share earnings came to 79 cents, ahead of the 73 cent FactSet consensus. Sales edged up to $766 million from $763 million a year ago, also ahead of the FactSet consensus of $736 million. Margins were hit however by higher input costs, including for labor, commodities, tariffs and transportation, "consistent with ongoing inflationary trends," the company said. The company is expecting to benefit from raising prices in fiscal 2022 although input coasts "have continued to rise dramatically." The company is now expecting fiscal 2022 EPS to range from $3.00 to $3.00, below the FactSet consensus of $4.35. Shares were slightly lower premarket and are down about 8% in the year through Tuesday's close, while the S&P 500 has gained 25%.
1:49 a.m. Nov. 10, 2021 - By Tomi Kilgore
Wolverine World Wide stock set to fall as profit tops but revenue misses, full-year earnings view cutShares of Wolverine World Wide Inc. were indicated down more than 1% in premarket trading Wednesday, after the footwear company, which brands include Saucony, Hush Puppies, Sperry and Keds, topped third-quarter profit expectations but missed on sales and cut its full-year earnings outlook. TThe company had about zero income, after net income of $22.4 million, or 27 cents a share, in the year-ago period. Excluding nonrecurring items, such as costs related to , adjusted earnings per share of 62 cents beat the FactSet consensus of 60 cents. Revenue grew 29.1% to $636.7 million, below the FactSet consensus of $652.7 million, with e-commerce revenue rising 45%. The company estimates that supply chain disruptions, including Vietnam factory closures, acted as a $60 million drag on revenue. For 2021, the company cut its adjusted EPS guidance range to $2.05 to $2.10 from $2.20 to $2.30. The stock has gained 2.0% over the past three months while the S&P 500 has tacked on 5.6%.
1:50 a.m. Nov. 9, 2021 - By Ciara Linnane
DR Horton shares rise premarket as earnings beat offsets soft guidanceShares of homebuilder D.R. Horton Inc. rose 1.4% in premarket trade Tuesday, after it beat earnings estimates for its fiscal fourth quarter ended Sept. 30. The Arlington, Tx.-based company said it had net income of $1.339 billion, or $3.70 a share, for the quarter, up from $829.0 million, or $2.24 a share, in the year-earlier period. Revenue rose to $8.109 billion from $6.400 billion a year ago. The FactSet consensus was for EPS of $3.39 and revenue of $7.829 billion. Homebuilding revenue rose 24% to $7.6 billion from $6.2 billion in the same quarter of fiscal 2020. Homes closed in the quarter increased 8% to 21,937 homes. "Housing market conditions remain very robust, with homebuyer demand exceeding our current capacity to deliver homes across most of our markets," Chairman Donald R. Horton said in a statement. However, "we have continued to experience significant disruptions in our supply chain, including shortages and delivery delays in certain building materials along with tightness in the labor market," he said. The company has intentionally restricted its home sales pace by selling homes later in the construction cycle "to align with our production levels and better ensure the certainty of home close dates for our homebuyers." The company is now expecting fiscal 2022 revenue of $32.5 billion to $33.5 billion, compared with a current FactSet consensus of $40.3 billion. Shares have gained 34.5% in the year to date, while the S&P 500 has gained 25%.
2:59 a.m. Nov. 8, 2021 - By Steve Gelsi
Sports clothing company 5.11 ABR files IPOCompass Diversified Holdings said Monday it filed an initial public offering for one of its portfolio companies, 5.11 ABR, a maker of apparel, footwear and gear used by rock climbers, military and law enforcement customers. Morgan Stanley, Jefferies and Baird are lead book-running managers for the IPO, which plans to trade on the Nasdaq under the symbol VXI. The company rang up 2020 net income of $10.3 million, up from $4.1 million in 2019. It reported 2020 sales of $401 million, up from $389 million in 2019 and $348 million in 2018.
2:08 a.m. Nov. 8, 2021 - By Tomi Kilgore
Coty stock jumps after earnings beat, deal to sell more of its Wella stake to KKRShares of Coty Inc. shot up 9.6% toward a six-month high in premarket trading Monday, after the consumer beauty company reported better-than-expected fiscal first-quarter revenue and announced a deal to sell off more of its stake in hair care company Wella. Net income for the quarter to Sept. 30 fell to $103.0 million, or 13 cents a share, from $200.6 million, or 24 cents a share, in the year-ago period. Excluding nonrecurring items, the company swung to adjusted earnings per share of 8 cents from a per-share loss of a penny, beating the FactSet consensus of 3 cents. Revenue rose 22.0% to $1.37 billion, matching the FactSet consensus of $1.37, while "like-for-like" (LFL) sales grew 20.6% to beat the company's guidance of "high-teens" percentage growth. For fiscal 2022, the company raised its LFL sales growth outlook to low-to-mid teens growth from low teens growth. Separately, Coty announced an agreement to sell a 4.7% stake in Wella to KKR & Co. Inc. in exchange for the redemption of 56% of KKR's remaining convertible preferred shares in Coty. The Wella stake sale . Once the deal closes, KKR will have a 2.4% ownership stake in Coty. Coty's stock has rallied 8.0% over the past three months through Friday, while the S&P 500 has gained 5.9%.
1:54 a.m. Nov. 8, 2021 - By Tomi Kilgore
KinderCare Learning sets IPO terms, as the profitable company could be valued at nearly $3 billionKinderCare Learnings Companies Inc. has set terms of its initial public offering, as the profitable Portland-based childhood education centers operator looks to raise up to $541.3 million. The company is offering 25.78 million shares in the IPO, which is expected to price between $18 and $21 a share. With 140.88 million shares expected to be outstanding after the IPO, the expected pricing could value the company at up to $2.96 billion. The stock is expected to list on the NYSE under the ticker symbol "KLC." Barclays, Morgan Stanley and Jefferies are the lead underwriters. The company recorded net income of $46.4 million on revenue of $1.33 billion during the nine months ended Oct. 3, after a loss of $1.4 million on revenue of $985.1 million in the same period a year ago. The company is looking to go public at a time that the Renaissance IPO ETF has gained 5.5% over the past three months while the S&P 500 has tacked on 5.9%.
3:15 a.m. Nov. 5, 2021 - By Tomi Kilgore
Goodyear stock soars after big profit, as record industry freight volume leads to 'robust' demand for tiresShares of Goodyear Tire & Rubber Co. soared 9.1% toward a three-year high in premarket trading Friday, after the tire maker reported a big third-quarter profit beat, citing improved pricing and as the transportation industry moved record freight volume. The company swung to net income of $132 million, or 46 cents a share, from a loss of $2 million, or a penny a share, in the year-ago period. Excluding nonrecurring items, including amortization related to Cooper Tire inventory step-up adjustments, adjusted EPS rose to 72 cents from 10 cents, well above the FactSet consensus of 28 cents. Sales grew 42.4% to $4.93 billion, above the FactSet consensus of $4.78 billion, amid "robust demand" from the company's largest commercial customers. Gross margin improved to 21.1% from 19.9%. "We continued to capitalize on favorable industry trends in our key replacement markets," said Chief Executive Richard Kramer. "Overall consumer replacement demand remains robust, and our business continues to have momentum." The stock has rocketed 96.6% year to date through Thursday, while the S&P 500 has advanced 24.6%.
4:22 a.m. Nov. 4, 2021 - By Tonya Garcia
Reynolds Consumer Products shares fall as high costs for labor and raw materials take a toll on outlookReynolds Consumer Products Inc. shares fell 5.5% in Thursday premarket trading after the company narrowed its guidance as higher costs take a toll. Net income totaled $66 million, or 31 cents per share, down from $113 million, or 54 cents per share, last year. Adjusted EPS of 33 cents beat the FactSet consensus of 32 cents. Revenue of $876 million was down from $797 million and ahead of the FactSet consensus for $880 million. "Our third round of pricing actions was implemented as planned, and a fourth round of pricing goes into effect in early 2022," said Chief Executive Lance Mitchell in a statement. Reynolds Consumer brands include Reynolds foil, Reynolds Wrap, Hefty items, and Presto products. The company expects 2021 cost pressures to total $450 million, up from the previous expectation of $400 million. As a result, the company narrowed its EPS guidance to a range of $1.47 to $1.54 and adjusted EPS in the range of $1.53 to $1.60. Revenue is expected to grow in the high-single digits. The FactSet consensus is for EPS of $1.58 and revenue of $3.495 billion, suggesting 7.1% growth. "Rates for resin have not eased since July as forecasted, and aluminum rates are higher versus July levels," the company said. "Labor and logistics costs have also exceeded forecasts since July." For the fourth quarter, Reynolds is guiding for revenue growth in the mid-to-high teens, EPS in the range of $0.42 to $0.49, and adjusted EPS in the range of $0.44 to $0.51. The FactSet revenue consensus is for $981.2 million, implying 10.5% growth, and EPS of 50 cents. Reynolds stock has fallen 5.6% for the year to date while the S&P 500 index is up 24% for the period.
4:09 a.m. Nov. 4, 2021 - By Ciara Linnane
Howmet Aerospace shares fall premarket after revenue miss and guidance that lags consensusHowmet Aerospace Inc. shares slid 1.6% in premarket trade Thursday, after the former unit of Pittsburgh-based Arconic missed revenue estimates for the third quarter and offered guidance that lagged consensus. The company posed net income of $27 million, or 6 cents a share, down from $74 million, or 17 cents a share, in the year-earlier period. Excluding special items, the company had EPS of 27 cents a share, ahead of the 25 cent FactSet consensus. Revenue rose 13% to $1.28 billion, missing the $1.30 billion FactSet consensus. "Third quarter 2021 marked the start of the commercial aerospace recovery, with commercial aerospace revenue up 16% sequentially, driving total revenue growth of 7% sequentially," CEO John Plant said in a statement. Howmet is expecting revenue growth to continue in the fourth quarter and into 2022. The company is expecting fourth-quarter revenue of $1.295 billion to $1.325 billion and EPS of 27 cents to 30 cents. The FactSet consensus is for EPS of 30 cents and revenue of $1.388 billion. For the full year, it expects EPS of 98 cents to $1.01 and revenue of $4.980 billion to $5.010 billion. The FactSet consensus is for EPS of 99 cents and revenue of $5.115 billion. Shares have gained about 7% in the year to date, while the S&P 500 has gained 24%.
3:16 a.m. Nov. 4, 2021 - By Tonya Garcia
Hanesbrands sales miss expectations after PPE declinesHanesbrands Inc. reported third-quarter net income of $151.8 million, or 43 cents per share, up from $103.3 million, or 29 cents per share, last year. Adjusted EPS of 53 cents beat the FactSet consensus for 47 cents. Sales of $1.790 billion were up from $1.692 billion last year and below the FactSet consensus for $1.801 billion. Sales of innerwear, which includes items like socks, fell 11% due to overlap with sales of personal protective equipment (PPE) last year. Hanesbrands expects the sale of its European innerwear business to an affiliate of Regent L.P. to be complete by the first quarter of 2022. The company maintained its fourth-quarter sales guidance for $1.71 billion to $1.78 billion, EPS in the range of 24 cents to 29 cents and adjusted EPS in the range of 40 cents to 45 cents. The FactSet consensus is for sales of $1.745 billion and EPS of 42 cents. For the year, Hanesbrands is guiding for sales of $6.76 billion to $6.83 billion, EPS in the range of $1.53 to $1.58 and adjusted EPS in the range of $1.79 to $1.84. The FactSet consensus is for EPS of $6.808 billion and EPS of $1.75. Hanesbrands stock edged down 0.2% in Thursday premarket trading, and has gained 25.4% for the year to date. The S&P 500 index is up 24% for 2021 so far.
2:02 a.m. Nov. 4, 2021 - By Tomi Kilgore
Wrangler, Lee jeans parent Kontoor Brands reports earnings beat, raises full-year outlookWrangler and Lee jeans parent Kontoor Brands Inc. reported third-quarter profit and revenue that beat expectations, boosted by strength in digital, and raised its full-year outlook. The stock was still inactive in premarket trading. Net income rose to $63.4 million, or $1.07 a share, from $60.8 million, or $1.05 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $1.28 beat the FactSet consensus of $1.03. Revenue grew 11.8% to $652.3 million, above the FactSet consensus of $617.1 million, while cost of goods sold increased 11.4% to $362.7 million. Wrangler revenue rose 22% to $422 million and Lee revenue increased 6% to $228 million. For 2021, the company raised its adjusted EPS guidance range to $4.15 to $4.20 from $3.90 to $4.00, its revenue growth outlook to a high-teens percentage from a mid-teens percentage. The stock has slipped 1.7% over the past three months while the S&P 500 has gained 5.9%.
1:15 a.m. Nov. 4, 2021 - By Tomi Kilgore
Vista Outdoor stock surges on big earnings beat, with ammunition driving 49% jump in shooting sports salesShares of Vista Outdoor Inc. shot up 6.0% in premarket trading Thursday, after the outdoor and shooting sports products company reported big fiscal second-quarter profit and sales beats, with particular strength in the shooting sports segment, and provided an upbeat full-year outlook. Net income for the quarter to Sept. 26 rose to $139.5 million, or $2.36 a share, from $79.6 million, or $1.34 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $2.41 beat the FactSet consensus of $1.78. Sales grew 35.3% to $778.5 million, above the FactSet consensus of $722.6 million. Shooting sports sales rose 49% to $566 million, boosted by 65% growth in ammunitions, while outdoor products sales increased 9% to $212 million, as CamelBak and Action Sports led double-digit percentage growth in Outdoor Recreation. For fiscal 2022, the company expects adjusted EPS of $7.70 to $8.00, above the FactSet consensus of $6.13, and sales of $2.90 billion to $2.95 billion, compared with expectations of $2.78 billion. The stock had run up 82.7% year to date through Wednesday, while the S&P 500 has advanced 24.1%.
2:57 a.m. Nov. 3, 2021 - By Steve Gelsi
Jones Lang LaSalle net income increases 80%Jones Lang LaSalle Inc. said Wednesday its third-quarter net income rose to $237.2 million, or $4.57 a share, from $131.9 million, or $2.52 a share, in the year-ago quarter. Adjusted earnings increased to $4.56 a share from $2.99 a share. Total revenue rose to $4.89 billion from $3.98 billion. Fee revenue increased to $2.07 billion from $1.42 billion. Analysts expected the company to earn $3.58 a share, according to a FactSet survey. Shares of JLL are up 73.9% this year, compared to an increase of 23.3% by the S&P 500.
2:31 a.m. Nov. 3, 2021 - By Tomi Kilgore
Scotts Miracle-Gro stock gains after narrower-than-expected loss, sales fell less than forecastShares of Scotts Miracle-Gro Co. rose 2.1% in premarket trading, after the lawn care and indoor and hydroponic growing products company reported a narrower-than-expected fourth-quarter loss and revenue that topped forecasts, as a big beat in its U.S. Consumer business offset a Hawthorne miss. For the quarter to Sept. 30, the company swung to a net loss of $47.8 million, or 86 cents a share, from income of $3.9 million, or 7 cents a share, in the year-ago period. Excluding nonrecurring items, the adjusted per-share loss of 82 cents beat the FactSet loss consensus of 87 cents. Sales declined 17.1% to $737.8 million but was above the FactSet consensus of $680.8 million. U.S. Consumer sales fell 28% to $369.4 million but was well above expectations of $268.7 million, while Hawthorne sales slipped 2% to $329.1 million and missed expectations of $362.3 million. The company said over-supply of cannabis in California pressured Hawthorne's results. "Commodity prices were a headwind throughout fiscal '21 but were partially offset in the quarter by price increases in our U.S. Consumer segment that took effect in August," said Chief Financial Officer Cory Miller. "We have communicated to our retail partners that we will take additional pricing actions effective in January as we continue to battle higher costs from urea, resin, grass seed and other commodities." The stock has tumbled 16.8% over the past three months through Tuesday, while the S&P 500 has gained 4.7%.
2:14 a.m. Nov. 3, 2021 - By Tomi Kilgore
Tupperware stock tumbles after adjusted profit beats, but sale surprisingly declinesShares of Tupperware Brands Corp. tumbled 13.5% in premarket trading Wednesday, after the food storage and consumer products company reported third-quarter adjusted profit that beat expectations, but a surprise decline in sales amid "challenging" year-over-year comparisons and persistent negative effects of the COVID-19 pandemic. The company swung to a net loss of $86.1 million, or $1.63 a share, from income of $34.4 million, or 65 cents a share, in the year-ago period. Excluding nonrecurring items, such as losses on held-for-sale assets, adjusted earnings per share came to $1.19, above the FactSet consensus of 71 cents. Sales fell 11.0% to $376.9 million from $423.7 million, while the FactSet consensus was for a rise to $473.7 million. Gross margin declined to 65.8% from 68.7%. The stock has rallied 10.5% over the past three months through Tuesday, while the S&P 500 has gained 4.7%.
2:01 a.m. Nov. 3, 2021 - By Tomi Kilgore
Capri stock jumps after Michael Kors, Versace parent posts big profit beat, raises outlookShares of Capri Holdings Ltd. shot up 6.3% in premarket trading Wednesday, after the luxury fashion company, and parent of Versace, Jimmy Choo and Michael Kors brands, reported fiscal second-quarter profit and sales that rose above expectations and boosted its full-year outlook. Net income for the quarter to Sept. 25 rose to $200 million, or $1.30 a share, from $122 million, or 81 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $1.53 was well above the FactSet consensus of 95 cents. Revenue grew 17.1% to $1.30 billion, above the FactSet consensus of $1.27 billion, as Michael Kors revenue rose 11% to $881 million, Versace revenue jumped 45% to $282 million and Jimmy Choo revenue rose 12% to $137 million. The company raised its fiscal 2022 EPS guidance to approximately $5.30 from $4.50 and nudged up its revenue outlook to $5.4 billion from $5.3 billion. Separately, the company approved a new $1 billion stock repurchase program. The stock has declined 6.5% over the past three months through Tuesday, while the S&P 500 has gained 4.7%.
1:15 a.m. Nov. 3, 2021 - By Tomi Kilgore
Lumber Liquidators stock set to fall after profit and sales fall below expectationsShares of Lumber Liquidators Holdings Inc. were indicated down more than 2% in premarket trading Wednesday, after the wood flooring retailer reported third-quarter profit and sales that missed expectations, citing an "increasingly challenging" supply chain and inflationary environment. Net income fell to $8.8 million, or 30 cents a share, from $15.5 million, or 53 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share fell to 29 cents from 67 cents, missing the FactSet EPS consensus of 30 cents. Sales declined 4.6% to $282.2 million, below the FactSet consensus of $289.0 million. Cost of sales slipped 1.3%, lowering gross margin to 37.3% from 39.4%. Same-store sales fell 4.5%, while the range of two estimates from analysts surveyed by FactSet was down 2.0% to down 1.5%. "As anticipated, our sales to DIY customers were down versus last year, reflecting a shift in consumer spending to other product and service categories, as well as tough comparisons to the nesting spending that we saw in the third quarter of 2020," said Chief Executive Charles Tyson. Looking ahead, the company said it expects higher material and transportation costs to weigh on gross margins in the fourth quarter and into 2022, and will look to offset these higher costs through pricing and promotion strategies. The stock has slipped 3.2% over the past three months while the S&P 500 has gained 4.7%.
3:24 a.m. Nov. 2, 2021 - By Tonya Garcia
Ralph Lauren earnings beat expectations, share buybacks expected to resumeRalph Lauren Corp. reported fiscal second-quarter net income of $193.3 million, or $2.57 per share, after a loss of $39.1 million, or 53 cents per share, last year. Adjusted EPS of $2.62 beat the FactSet consensus for $2.00. Revenue of $1.504 billion was up from $1.194 billion and also ahead of the FactSet consensus for $1.468 billion. Ralph Lauren expects to resume share repurchases in the second half of fiscal 2022, with about $580 million remaining under its buyback program. Ralph Lauren shares edged up 0.2% in Tuesday premarket trading. For the year to date the luxury lifestyle company has seen shares rally 25%. The S&P 500 index has gained 22.8% for 2021 so far.
2:18 a.m. Nov. 2, 2021 - By Tonya Garcia
Under Armour shares soar after earnings beat, guidance raisedUnder Armour Inc. shares soared 9.1% in Tuesday premarket trading after the athletic company reported third-quarter earnings that beat expectations and raised its full-year outlook. Net income totaled $113.4 million, or 24 cents per share, up from $38.9 million, or 9 cents per share, last year. Adjusted EPS of 31 cents blew past the FactSet consensus for 15 cents. Revenue of $1.546 billion was up from $1.433 billion last year and was also ahead of the FactSet consensus for $1.477 billion. Under Armour now expects to recognize $525 million to $575 million in charges related to a restructuring plan announced in April 2020 of which $500 million have been recognized. The company expects to recognize the remaining charges by the first calendar quarter of 2022. Under Armour now expects full-year 2021 revenue to be up about 25% versus previous guidance for a low-20% increase. EPS is expected to reach 55 cents, up from previous guidance of 14 cents to 16 cents. And adjusted EPS is expected to be about 74 cents, up from a range of 50 cents to 52 cents. The FactSet consensus is for revenue of $5.492 billion, implying a rise of 22.7%, and EPS of 54 cents. Under Armour stock has rallied 28% for the year to date, outpacing the S&P 500 index , which is up 22.8% for the period.
2:00 a.m. Nov. 2, 2021 - By Tomi Kilgore
Estee Lauder stock drops after earnings rose above expectations but outlook disappointsShares of Estee Lauder Companies sank 2.2% in premarket trading Tuesday, after the skin and hair care, makeup and fragrance company reported fiscal first-quarter profit and sales that rose above expectations, but provided a downbeat second-quarter outlook as inflation, supply chain disruptions and COVID-19 restrictions are expected to continue. Net income rose to $692 million, or $1.88 a share, from $523 million, or $1.42 a share, in the year-ago period. Excluding restructuring and other one-time charges, adjusted earnings per share rose 31% to $1.89, above the FactSet EPS consensus of $1.70. Sales grew 23.3% to $4.39 billion, beating the FactSet consensus of $4.25 billion, while cost of sales increased 28.1% to $1.06 billion. Skin care sales rose 20% to $2.45 billion, makeup sales grew 20% to $1.17 billion, fragrance sales jumped 50% to $609 million and hair care sales increased 9% to $148 million. Looking ahead, the company expects second-quarter adjusted EPS of $2.51 to $2.61, below the FactSet consensus of $2.81, and sales growth of 11% to 13%, while the FactSet sales consensus of $5.59 billion implies 15% growth. Separately, the company announced . The stock has run up 22.2% year to date through Monday, while the S&P 500 has advanced 22.8%.
1:26 a.m. Nov. 2, 2021 - By Tomi Kilgore
DuPont stock drops after earnings beat but outlook cut, and after $5.2 billion Rogers buyout dealShares of DuPont de Nemours Inc. dropped 4.1% in premarket trading Tuesday, after the materials and chemicals company reported third-quarter profit and revenue that beat expectations but cut its full-year outlook, citing decelerating order patterns resulting from the global semiconductor shortage. Separately, to buy Rogers Corp. for $5.2 billion in cash. DuPont swung to third-quarter net income of $391 million, or 75 cents a share, from a loss of $79 million, or 11 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share rose 89% to $1.15, above the FactSet consensus of $1.12. Sales rose 17.7% to $4.27 billion, beating the FactSet consensus of $4.16 billion, as cost of sales grew 14.9%. Among business segments, sales for Electronics & Industrial rose 21% to $1.5 billion, for Water & Protection increased 12% to $1.4 billion and for Mobility & Materials rose 30% to $1.3 billion. For 2021, the company cut its guidance ranges for adjusted EPS to $4.18 to $4.22 from $4.24 to $4.30 and for sales to $16.34 billion to $16.40 billion from $16.45 billion to $16.55 billion. DuPont's stock has shed 4.6% over the past three months through Monday, while the S&P 500 has gained 5.2%.
2:24 a.m. Oct. 29, 2021 - By Tonya Garcia
Newell results beat the Street, raises guidanceNewell Brands Inc. stock rose 2.7% in Friday premarket trading after the consumer goods company reported third-quarter profit that fell but beat expectations, and raised its full-year guidance. Net income totaled $190 million, or 44 cents per share, down from $304 million, or 71 cents per share, last year. Adjusted EPS of 54 cents beat the FactSet consensus of 50 cents. Sales of $2.787 billion were up from $2.699 billion and also ahead of the FactSet consensus for $2.780 billion. Newell Brands' portfolio includes Rubbermaid, Sharpie, Mr. Coffee and Graco baby products. The company is guiding for fourth quarter sales totaling $2.60 billion to $2.68 billion and adjusted EPS of 29 cents to 33 cents. The FactSet consensus is for sales of $2.596 billion and EPS of 37 cents. For the full year, Newell is now forecasting sales of $10.38 billion to $10.46 billion, up from previous guidance of $10.1 billion to $10.35 billion, and adjusted EPS of $1.69 to $1.73, up from previous guidance of $1.63 to $1.73. The FactSet consensus is for sales of $10.374 billion and EPS of $1.72. Newell stock has risen 2.5% for the year to date while the S&P 500 index has gained 22.4% for the period.
2:06 a.m. Oct. 29, 2021 - By Ciara Linnane
Colgate-Palmolive share flat as better-than-expected earnings offset by worry about costs Colgate-Palmolive Co. shares were flat in premarket trade Friday, after the company beat estimates for the third quarter but said it expects the "difficult cost environment" to continue for several quarters. The consumer goods company posted net income of $634 million, or 75 cents a share, for the quarter, down from $698 million, or 81 cents a share, in the year-earlier period. Adjusted per-share earnings came to 81 cents, ahead of the 80-cent FactSet consensus. Sales rose to $4.414 billion from $4.153 billion a year ago, also ahead of the $4.399 billion FactSet consensus. The company retained its leading global market share in the toothpaste market of 39.5% and its leading global market share of the manual toothbrush market of 31.0%. "Net income and earnings per share both increased on a Base Business basis, despite significant increases in raw material and logistics costs," CEO Noel Wallace said in a statement. "We expect the difficult cost environment to continue for the next several quarters and we remain sharply focused on our funding the growth and revenue growth management initiatives, including additional pricing." The company is now expecting full-year sales growth of 4% to 7% and for its EPS to come in at the low end of its low to mid-single-digit range. Shares have fallen 10% in the year to date, while the S&P 500 has gained 22%.
2:30 a.m. Oct. 28, 2021 - By Ciara Linnane
Hertz swings back to profit in Q3 as leisure travel recoversHertz Global Holdings Inc. , which emerged from bankruptcy in July, said Thursday it had net income of $571 million, or $1.13 a share, in the third quarter, after a loss of $222 million, or $1.42 a share, in the year-earlier period. Revenue doubled to $2.226 billion from $1.268 billion. The FactSet consensus was for EPS of 85 cents and revenue of $2.225 billion. The revenue number reflects "the continued rebound in leisure travel and tight fleet inventory as Hertz executes against its strategic roadmap," the rental car company said in a statement. "While volume continued to be lower compared to 2019 levels, these headwinds were partially mitigated by improvements in pricing power." The company earlier this week announced plans for an "initial" order of a total of 100,000 Teslas by the end of 2022. The company also said it would invest in new EV charging infrastructure across its global operations in a bid to offer the largest EV rental fleet in North America. It ended the third quarter with $1.5 billion in outstanding non-vehicle debt, a $1.3 billion first lien revolving credit facility and $366 million of letters of credit outstanding. It had $3.8 billion in liquidity as of Sept. 30. Shares were not yet active premarket.
2:05 a.m. Oct. 28, 2021 - By Tomi Kilgore
Northrop Grumman stock slips after profit rises above expectations but sales fall shortShares of Northrop Grumman Corp. slipped 0.6% in premarket trading Thursday after the aerospace and defense contractor reported third-quarter profit that beat expectations but sales that fell short, as weakness in the company's service business offset an increase in product sales. Net income rose to $1.06 billion, or $6.63 a share, from $986 million, or $5.89 a share, in the year-ago period. That beat the FactSet consensus for earnings per share of $5.99. Sales fell 4.0% to $8.72 billion, below the FactSet consensus of $8.95 billion, as product sales 2.7% to $6.85 billion while service sales fell 22.3% to $1.88 billion. "While we did see some labor related and supply chain challenges stemming from the COVID-19 pandemic on our operations, we delivered solid organic growth, outstanding segment operating margins and strong transaction-adjusted free cash flow in the quarter," Said Chief Executive Kathy Warden. The company raised its 2021 guidance range for adjusted EPS to $25.20 to $25.60 from $24.40 to $24.80 and narrowed its sales outlook to approximately $36.0 billion from $35.8 billion to $36.2 billion. The stock has run up 27.4% year to date through Wednesday, while the S&P 500 has advanced 21.2%.
1:22 a.m. Oct. 28, 2021 - By Tomi Kilgore
Stanley Black & Decker stock set for selloff after earnings beat but outlook cut, citing negative inflation impactShares of Stanley Black & Decker Inc. were indicated down about 3% in premarket trading Thursday, after the tools maker reported third-quarter profit and revenue that topped expectations but cut its full-year outlook, citing the negative effects of commodity, transit and labor inflation. Net income rose to $414.2 million, or $2.56 a share, from $385.5 million, or $2.44 a share, in th year-ago period. Excluding nonrecurring items, adjusted earnings per share came to $2.77, above the FactSet consensus of $2.47. Sales grew 10.7% to $4.26 billion, above the FactSet consensus of $4.25 billion, as tools and storage sales increased 14%, security sales rose 5% and industrial sales grew 1%. Cost of sales jumped 16.1% to $2.87 billion, as gross profit as a percent of sales fell to 32.6% from 35.7%. With commodity, transit and labor inflation expected to reduce full-year results by about $1.25 a share, the company cut its 2021 adjusted EPS guidance range to $10.90 to $11.10 from $11.35 to $11.65. ""We are prioritizing meeting demand in a universally difficult supply chain environment and are actively addressing the inflationary trends impacting the business with new targeted pricing actions and increased productivity measures," said Chief Executive James Loree. The stock has lost 4.7% over the past three months through Wednesday while the S&P 500 has gained 3.4%.
3:29 a.m. Oct. 27, 2021 - By Ciara Linnane
UPDATE: GM shares down premarket as revenue miss weighs against profit beat and chip shortage takes its tollGeneral Motors shares reversed early gains to trade down 1.6% in premarket trade Wednesday, after the company blew past profit estimates for the third quarter and offered above-consensus guidance for the full year, but suffered a revenue miss. GM said it had net income of $2.420 billion, or $1.62 a share, in the quarter, down from $4.045 billion, or $2.78 a share, in the year-earlier period. Adjusted per-share earnings came to $1.52, well ahead of the 98 cents FactSet consensus. Revenue fell to $26.779 billion from $35.480 billion a year ago, missing the $30.722 billion FactSet consensus. The quarter "was challenging due to continuing semiconductor pressures," CEO Mary Barra said in a letter to shareholders. However, it also included "strong price and mix performance in North America, the benefit of the company's recall cost recovery agreement with LG Electronics and the continued strong financial results at GM Financial. As a result, the company is on track to deliver full-year 2021 EBIT-adjusted earnings approaching the high end of its guidance range," GM said in a statement. The auto maker is now expecting full-year EPS to range from $5.52 to $6.52. It expects adjusted EPS to range from $5.70 to $6.70, compared with a FactSet consensus of $6.41. Shares have gained 38% in the year to date, while the S&P 500 has gained 22%.
Browse topics:

Filter results by

Industry

Manufacturing (248)

Retail (205)

Financial Services (203)

Health-care (181)

Banks (180)

Food And Beverage (148)

Location

Us (1249)

Europe (24)

Canada (17)

Asia Pacific (13)

China (10)

Eu (10)

Link to MarketWatch's Slice.