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DAILY EARNINGS

AmerisourceBergen, Archer Daniels Net Soar; GM Net Loss Narrows


Author: Mukesh Buch
ticker.com
Last Update: 12:08 PM EST February 06 2018

11:45 PM New York AmerisourceBergen first-quarter net soared to $862 million. Archer Daniels fourth-quarter net jumped 86% to $788 million. Cummins fourth-quarter net swung to a loss of $274 million. General Motors fourth-quarter net narrowed to $4.9 billion. Gartner fourth-quarter net jumped 61% to $107 million.

Tollbooth Index slipped 51.22 or 0.4% to 13,666.22.

Earnings Review

AmerisourceBergen Corp (ABC), the drug retailer reported revenues in the first-quarter ending in December jumped 6% from a year ago to $40.5 billion.

Net income in the quarter soared to $862 million or $3.90 per diluted share from $342 million or $1.11 in the same quarter last year.

The drug retailer lifted diluted earnings per share estimate in the range of $6.45 to $6.65 from the earlier estimate of $5.90 to $6.15.

Archer Daniels Midland Co (ADM), the agricultural food processor said revenues in the fourth-quarter ending in December dropped 2.6% from a year ago to $16.1 billion.

Net income in the quarter jumped 85.8% to $788 million or $1.39 per diluted share from $424 million or 73 cents in the same quarter last year.

Cummins Inc (CMI), the diesel and natural gas engines maker said revenues in the fourth-quarter ending in December surged 22% from a year ago to $5.5 billion.

Net in the quarter swung to a loss of $274 million or $1.65 per diluted share from profit of $378 million or $2.25 in the same quarter last year.

Cummins forecasted fiscal 2018 revenues growth in the range of 4% to 8% and operating profit in the range of 15.8% to 16.2%.

General Motors Company (GM), the auto maker reported revenues in the fourth-quarter ending in December slumped 5.5% from a year ago to $37.7 billion.

Net loss in the quarter narrowed to $4.9 billion or $3.46 per diluted share from $6.8 billion or $4.73 in the same quarter last year.

GM plans to spend more than $8 billion in capital expenditures in this year.

Gartner Inc (IT), the information technology information provider said total revenues in the fourth-quarter ending in December soared 44% from a year ago to $1 billion.

Net income in the quarter jumped 61% to $107.3 million or $1.16 per diluted share from $66.5 million or 79 cents in the same quarter last year.

Separately today, the information services provider said that it will sell its CEB Talent Assessment business to a UK-based private equity firm Exponent Private Equity for $400 million.
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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