U.S. Movers: Acuity Brands, Schulman, Chrysler, Greenbrier, Zep

Mukesh Buch
02 Jul, 2013
New York City

Acuity Brands sales climbed but net slid and Schulman declined as sales and profit tumbled. Chrysler vehicles sales rose 8% in June and Ford Motor sales in the month rose 13%.

[R]11:40 AM New York – Acuity Brands sales climbed but net slid and Schulman declined as sales and profit tumbled. Chrysler vehicles sales rose 8% in June and Ford Motor sales in the month rose 13%.[/R]

Acuity Brands, Inc. ((AYI)) surged 9% or $6.88 to $82.63 after the lighting solutions provider said net sales in the third quarter ending in May climbed 11% to $541.5 million. Net earnings in the quarter slid 6% to $31.7 million or 73 cents a diluted share compared to $33.6 million or 79 cents.

Gross profit in the quarter advanced 9% to $221 million and operating income declined 13% to $50 million.

A. Schulman, Inc. ((SHLM)) declined 6.4% or $1.78 to $26.05 after the plastic compounds supplier reported net sales in the third quarter ending in May tumbled 15% to $548.6 million. Net income in the quarter plunged 69% to $5.2 million or 18 cents a diluted share compared to $17 million or 57 cents.

The company added operating profit in the quarter tumbled 29% to $16.7 million.

For the year, the company expects adjusted diluted earnings per share between $1.70 and $1.80.

Constellation Brands, Inc. ((STZ)) slipped 2.2% or $1.20 to $51.94 after the wine company said net sales in the first quarter ending in May increased 6% to $673 million. Net income in the quarter slipped 26% to $53 million or 27 cents a diluted share compared to $72 million or 35 cents.

Gross profit for the quarter advanced 6% to $673.4 million and operating profit plunged 34% to $70.5 million.

For the year, the company expects comparable basis diluted earnings per share in the range of $2.60 to $2.90 and reported basis diluted earnings per share between $2.32 and $2.62.

Chrysler Group LLC said U.S. sales in June rose 8% to 156,686 vehicles. Total car sales climbed 11% to 49,719 units from 44,988 and truck sales jumped 7% to 106,967 units compared to 99,823 units.

The Greenbrier Companies, Inc ((GBX)) dropped 4.8% or $1.14 to $22.56 after the car equipment maker revenue in the third quarter ending in May rose 2% to $433.7 million. Net earnings in the quarter plummeted 14% to $15.7 million or 50 cents a diluted share compared to $13.8 million or 45 cents.

For the year, the company expects revenue in the range of $1.75 billion to $1.80 billion and adjusted EBITDA between $150 million and $155 million.

Investors Real Estate Trust ((IRET)) gained 2.4% or 21 cents to $8.68 after the real estate investment advisor stated revenues in the fourth quarter ending in May jumped 12% to $67 million. Net income in the quarter surged 154% to $7.1 million or 7 cents a diluted share compared to $2.8 million or 3 cents.

Zep Inc ((ZEP)) plunged 15.4% or $2.55 to $13.99 after the cleaning chemicals provider said net sales in the third quarter ending in May jumped 5.3% to $186 million. Net income in the quarter dropped 27.5% to $6.25 million or 28 cents a diluted share compared to $8.62 million or 39 cents.