2:25 PM New York – Acuity Brands issued cautious outlook on demand. IDT Corp net swung to a loss. Monsanto net swung to profit on higher demand for corn and soybean. PepsiCo profit was ahead of estimates on strong sales in Frito-Lay snacks. RPM International revenues jumped.
Tollbooth Index decreased 23.15 or 0.2% to 12,674.22.
Acuity Brands, Inc
) decreased 1.8% or $3.06 to $166.60 after the lighting solutions said revenues in the fourth-quarter ending in August jumped 3.5% from a year ago to $957.6 million.
Net income in the quarter surged 9% to $90.5 million or $2.15 per diluted share from $82.9 million or $1.89 in the same quarter last year.
) slumped 2.6% or 39 cents to $14.36 after the communications and payment services provider stated revenues in the fourth-quarter ending in July soared 7.3% from a year ago to $395 million.
Net in the quarter swung to a loss of $9.8 million or 41 cents per diluted share from profit of $11 million or 48 cents in the same quarter last year.
) gained 39 cents to $120.10 after the agricultural products provider reported revenues in the fourth-quarter ending in August advanced 3.8% from a year ago to $2.7 billion.
Net in the quarter swung to profit $20 million or 5 cents per diluted share from a loss of $191 million or 44 cents in the same quarter last year.
Monsanto said growth in the profit and sales was driven by higher demand for corn and soybean seeds.
) increased 44 cents to $109.57 after the food and beverages maker reported revenues in the third-quarter ending on September 9 rose 1% from a year ago to $16.2 billion.
Net income in the quarter soared 8% to $2.1 billion or $1.49 per diluted share from $2 billion or $1.37 in the same quarter last year.
The food and beverage maker said higher profit was driven by a complementary food and beverage portfolio includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana and benefited from lower costs.
Pepsi lowered negative impact of net revenue growth to approximate year-to-date growth rate from the earlier estimate to at least 3% decline, core earnings per share of $5.23 and $10 billion in cash flow from operating activities.
RPM International Inc
) fell 92 cents to $52 after the paints and coatings manufacturer said revenues in the first-quarter ending in August advanced 7.5% from a year ago to $1.4 billion.
Net income in the quarter increased 3.2% to $116.4 million or 86 cents per diluted share from $112.8 million or 83 cents in the same quarter last year.
“Sales growth guidance for the balance of fiscal 2018 in our industrial and consumer segments in the mid-single-digit range and in specialty segment in the low- to mid-single-digit range. We maintain full-year earnings per share guidance of $2.85 to $2.95 per diluted share,” said chief executive officer Frank Sullivan.