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DAILY EARNINGS

Arcos Net Surges; Rubicon Project Net Swing to Loss


Author: Mukesh Buch
ticker.com
Last Update: 1:02 PM ET March 15 2017

12:00 PM New York Bon-Ton Stores fourth-quarter net declined 12% to $45 million. DSW fourth-quarter net declined 12% to $31 million. HD Supply fourth-quarter net tumbled 94% to $52 million. RadNet fourth-quarter net surged 311% to $4 million. Veritiv Corp fourth-quarter net plunged 58% to $4.2 million.

Tollbooth Index edged up 15.41 to 11,591.09.

Earnings Review

Arcos Dorados Holding Inc (ARCO), the franchisee of McDonald''s reported revenues in the fourth-quarter ending in December jumped 5.5% from a year ago to $807.2 million.

Systemwide comparable store sales in the quarter soared 4.7%, excluding Venezuela 9.2%.

Net income in the quarter surged four-fold to $21.2 million or 10 cents per diluted share from $5.6 million or 3 cents per share in the same quarter last year.

The restaurants operator plans to open 45 to 50 new restaurants and total capital expenditures between $150 million and $180 million and approx $500 million up to fiscal 2019.

Everi Holdings Inc (EVRI), the video and mechanical reel gaming services provider said revenues in the fourth-quarter ending in December advanced 6.4% from a year ago to $217.5 million.

Net loss in the quarter widened to $217.3 million or $3.29 per diluted share from $86.6 million or $1.31 per share in the same quarter last year.

Everi said higher operating loss in the quarter includes non-cash goodwill impairment charge of $146.3 million.

Hostess Brands, Inc (TWNK), the bakery products maker reported revenues in the fourth-quarter ending in December soared 21.6% from a year ago to $178.8 million.

Net income in the quarter plunged 11.6% of $14.4 million or 14 cents per diluted share from $16.3 million in the same quarter last year.

The sweet baked goods maker reaffirmed net revenue estimate in fiscal 2017 of about $781 million and operating profit of $235 million

The Rubicon Project Inc (RUBI), the technology solution provider stated revenues in the fourth-quarter ending in December plummeted 22.7% from a year ago to $72.7 million.

Net in the quarter swung to a loss of $21.2 million or 44 cents per diluted share from profit of $20.4 million or 43 cents per share in the same quarter last year.

Titan International Inc (TWI), the wheels and tires maker said net sales in the fourth-quarter ending in December slid 0.2% from a year ago to $307.3 million.

Net loss in the quarter narrowed to $14.1 million or 26 cents per diluted share from $57.4 million or $1.07 per share in the same quarter last year.

Titan said facility in Sao Paulo, Brazil is scheduled to begin production of both LSW tires and wheels during the third-quarter of 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