U.S. Movers: General Mills, Lennar, Monsanto, McCormick, UniFirst

Mukesh Buch
27 Jun, 2012
New York City

General Mills fourth quarter net was ahead of expectations but issues a weak 2013 outlook. Lennar soared after quarterly profit surged to $452.7 million. Monsanto third quarter net increased 1.6% to $937 million.

[R]10:35 AM New York – General Mills fourth quarter net was ahead of expectations but issues a weak 2013 outlook. Lennar soared after quarterly profit surged to $452.7 million. Monsanto third quarter net increased 1.6% to $937 million.[/R]

AeroVironment, Inc. ((AVAV)) advanced 6.9% or $1.77 to $27.21 after the electrical systems provider reported net revenues in the fourth quarter ending in April increased 4% to $110.7 million compared to $106.1 million in the same period last year. Net income in the quarter rose 1% to $17.8 million or 80 cents per diluted share compared to $17.6 million or 79 cents per share a year ago earlier.

General Mills, Inc. ((GIS)) decreased 1.6% or 63 cents to $37.52 after the foods retailer reported net sales in the fourth quarter ending on May 27 grew 12% to $4.1 billion compared to $3.6 billion in the same period last year. Net income in the quarter rose 1.6% to $325.4 million or 49 cents per diluted share compared to $320.2 million or 48 cents per share a year ago.

For the fiscal 2012 net sales increased 12% to $16.7 billion compared to $14.9 billion in the same period last year. Net income in the year declined 12.8% to $1.57 billion or $2.35 per diluted share compared to $1.80 billion or $2.70 per share a year ago.

The retailer expects fiscal 2013 net sales growth rate to be a mid-single-digit and adjusted earnings for will be approximately $2.65.

Lennar Corporation ((LEN)) soared 6.4% or $1.77 to $29.16 after the homebuilder reported net revenues in the fourth quarter ending in May soared 22% to $930.2 million compared to $764.5 million in the same period last year. Net earnings in the quarter surged to $452.7 million or $2.06 per diluted share compared to $13.8 million or 7 cents per share a year ago earlier.

Lindsay Corporation ((LNN)) surged 7.5% or $4.22 to $60.49 after the infrastructure products provider said total revenues in the third quarter ending in May increased 12% to $172.1 million compared to $153.4 million in the same period last year. Net earnings in the quarter soared 23% to $18.8 million or $1.47 per diluted share compared to $15.3 million or $1.20 per share a year ago period.

Monsanto Company ((MON)) gained 2.4% or $1.92 to $79.79 after the agricultural products provider reported net revenues in the third quarter ending in May surged 17% to $4.22 billion compared to $3.61 billion in the same period last year. Net income in the quarter rose 1.6% to $937 million or $1.74 per diluted share compared to $692 million or $1.28 per share a year ago.

The company confirmed 2012 earnings per share guidance in the range of $3.65 to $3.70 and on reported basis to be $3.73 to $3.78.

McCormick & Company, Inc ((MKC)) increased 1.3% or 76 cents to $58.18 after the food processing company reported net sales in the second quarter ending in May advanced 11% to $984 million compared to $883.7 million in the same period last year. Net income in the quarter increased 9% to $80.4 million or 60 cents per diluted share compared to $73.6 million or 55 cents per share a year ago earlier.

Sealy Corporation ((ZZ)) soared 7% or 12 cents to $1.82 after the sleeping mattress maker reported net sales in the second quarter ending on May 27 decreased 2.9% to $312 million compared to $321.3 million in the same period last year. Net income in the quarter swung to $1.67 million or 2 cents per diluted share compared to net loss of $0.38 million or break even per share a year ago earlier.

Robbins & Myers, Inc. ((RBN)) gained 2.2% or 90 cents to $40.24 after the engineered equipment supplier reported sales in the third quarter ending in May surged 12% to $266 million compared to $237 million in the same period last year. Net income in the quarter soared 38% to $44.2 million or $1.02 per diluted share compared to $71.0 million or $1.54 per share a year ago.

UniFirst Corporation ((UNF)) surged 9% or $5.19 to $62.59 after the workplace uniform provider reported revenues in the third quarter ending on June 27 increased 10% to $320.9 million compared to $291.6 million in the same period last year. Net income in the quarter surged 49% to $27.5 million or $1.37 per diluted share compared to $18.4 million or 93 cents per share a year ago.

The uniform provider projected fiscal 2012 revenues to be between $1.25 billion and $1.26 billion and earnings per share in the range of $4.60 to $4.70.