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DAILY EARNINGS

Dicks Sporting Michaels Co Net Jump; Navistar Net Loss widens


Author: Mukesh Buch
ticker.com
Last Update: 6:19 AM ET March 07 2017

12:00 PM New York Brown-Forman third-quarter net fell 4% to $182 million. Dicks Sporting fourth-quarter net jumped 4% to $90 million. Michaels Co fourth-quarter net jumped 6% to $195 million. Navistar International first-quarter net loss widened to $62 million. Nimble Storage fourth-quarter net loss widened to $36 million.

Tollbooth Index fell 22.09 or 0.2% to 11,621.12.

Earnings Review

Brown-Forman Corporation ((BF.B)), the alcoholic beverages maker said net sales in the third-quarter ending in December were flat from a year ago to $808 million.

Net loss in the quarter slumped 4% to $182 million from $190 million and diluted earnings per share were flat at 47 cents compared to the same quarter last year.

Dicks Sporting Goods Inc (DKS), the sporting goods retailer reported net sales in the fourth-quarter ending on January 28 soared 10.9% from a year ago to $2.5 billion.

Same store sales in the quarter jumped 5% compared to the guidance of 3% to 6% increase. Same store sales for Dicks Sporting Goods advanced 5.3%, while Golf Galaxy soared 13.2%.

Net income in the quarter jumped 3.6% to $90.2 million or 81 cents per diluted share from $129 million or $1.13 per share in the same quarter last year.

The sporting goods retailer forecasted fiscal 2017 same store sales to increase approx 2% to 3% compared to an increase of 3.5% in 2016 and diluted earnings per share to increase to between $3.63 and 3.73 from $2.56 for the 52 weeks ended on January 28, 2017.

The Michaels Companies, Inc (MIK), the specialty retailer said total net sales in the fourth-quarter ending in December rose 4.1% from a year ago to $1.8 billion.

Comparable store sales in the quarter decreased 1%.

Net income in the quarter jumped 6.3% to $195.3 million or 95 cents per diluted share from $183.7 million or 87 cents per share in the same quarter last year.

The retailer forecasted fiscal 2017 total net sales growth in the range of 2.5% to 4% and comparable store sales to range between flat to 1.5% increase and operating income between $727 million and $760 million while diluted earnings per common share in the range of $2.05 to $2.17.

Navistar International Corp (NAV), the heavy machinery and vehicles manufacturer reported revenues in the first-quarter ending in January plummeted 6% from a year ago to $1.7 billion.

Net loss in the quarter widened to $62 million or 76 cents per diluted share from $33 million or 40 cents per share in the same quarter last year.

Navistar plans to continue to introduce new products every four to six months through the end of 2018.

Nimble Storage Inc (NMBL), the cloud storage service provider said total revenues in the fourth-quarter ending in December soared 30% from a year ago to $117 million.

Net loss in the quarter widened to $36.4 million or 41 cents per diluted share from $32.4 million or 40 cents per share in the same quarter last year.

Separately today, Nimble Storage said it agreed to be acquired by Hewlett Packard Enterprise Co for $12.50 per share or $1.09 billion in cash.

The company also said it will not hold conference call to discuss the financial results and will not provide fiscal first-quarter guidance.
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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