AutoZone Jumps; Carnival, ConAgra, CarMax, Red Hat, Thor Drop

Mukesh Buch
22 Sep, 2015
New York City

AutoZone revenues and profit jumped. Carnival net and sales fell but lifted fiscal earnings outlook. ConAgra net swung to a loss. CarMax net surged 12%. Darden Restaurants lifted fiscal earnings outlook. General Mills net surged 24%. Red Hat profit jumped 9%.

[R]11:55 AM New York – AutoZone revenues and profit jumped. Carnival net and sales fell but lifted fiscal earnings outlook. ConAgra net swung to a loss. CarMax net surged 12%. Darden Restaurants lifted fiscal earnings outlook. General Mills net surged 24%. Red Hat profit jumped 9%.[/R]

Tollbooth Index slipped 131.91 or 1.3% to 10,302.30.

Earnings Review

AutoZone, Inc ((AZO)) increased 1.9% or $13.75 to $742.11 after the auto parts and accessories retailer said net sales in the fourth-quarter ending on August 29 soared 7.9% from a year ago to $3.29 billion.

Same store sales in the quarter advanced 4.5%.

Net income in the quarter jumped 7.4% to $401.1 million or $12.75 per diluted share compared to $373.7 million or $11.28 from the same quarter last year.

Carnival Corporation ((CCL)) dropped 2.6% or $1.36 to $51.32 after the cruise operator reported total revenues in the third-quarter ending in August slid 1.4% from a year ago to $4.88 billion.

Net income in the quarter fell 1.6% to $1.22 billion or $1.56 per diluted share compared to $1.24 billion or $1.60 from the same quarter last year.

The company lifted non-GAAP diluted earnings per share forecast for the year to between $2.56 and $2.60 compared to the earlier estimated range of $2.35 to $2.50 and reported non-GAAP diluted earnings per share of $1.93.

ConAgra Foods Inc ((CAG)) declined 4.5% or $1.92 to $40.48 after the packaged food maker said total sales in the first-quarter ending in August rose 1.1% from a year ago to $2.79 billion.

Net in the quarter swung to a loss of $1.24 billion or $2.85 per diluted share compared to profit of $482.3 million or $1.12 from the same quarter last year.

CarMax, Inc ((KMX)) slumped 6.8% or $4.24 to $58.42 after the used vehicles products and services provider stated revenues in the second-quarter ending in August soared 7.9% from a year ago to $3.88 billion.

Comparable store used unit sales in the quarter jumped 4.6% and wholesale vehicle unit sales advanced 8.7% and total used unit sales surged 9.2%.

Net income in the quarter surged 11.5% to $172.2 million or 82 cents per diluted share compared to $154.5 million or 70 cents from the same quarter last year.

Darden Restaurants, Inc ((DRI)) slipped 1.7% or $1.21 to $69.06 after the full-service restaurant operator said total sales in the first-quarter ending in August jumped 5.7% from a year ago to $1.69 billion.

Same-restaurant sales in the quarter increased 3.4%.

Net income in the quarter tumbled 82.8% to $86.4 million or 67 cents per diluted share compared to $503.2 million or $3.81 from the same quarter last year.

The company lifted adjusted earnings diluted per share for the year to a range between $3.15 and $3.30 compared to the previously estimated range $3.05 to $3.20.

FactSet Research Systems Inc ((FDS)) fell 65 cents to $165.28 after the financial analytical information provider stated revenues in the fourth-quarter ending in August advanced 9.7% from a year ago to $261.8 million.

Net income in the quarter surged 12.3% to $62.2 million or $1.48 per diluted share compared to $55.4 million or $1.31 from the same quarter last year.

FactSet forecasted revenues for the fiscal first-quarter between $265 million and $269 million and earnings per share in the range of $1.46 and $1.48.

Separately, the company agreed to acquire Portware, LLC for $265 million in cash and the transaction is expected to close before the end of its fiscal first-quarter.

General Mills, Inc ((GIS)) slid 6 cents to $56.73 after the branded consumer foods maker reported net sales in the first-quarter ending in August fell 1.4% from a year ago to $4.21 billion.

Net income in the quarter surged 23.6% to $426.6 million or 69 cents per diluted share compared to $345.2 million or 55 cents from the same quarter last year.

Red Hat Inc ((RHT)) slumped 2.5% or $1.85 to $70.84 after the open source software developer said total revenues in the second-quarter ending in August surged 21% from a year ago to $504 million.

Net income in the quarter jumped 8.5% to $51 million or 28 cents per diluted share compared to $47 million or 25 cents from the same quarter last year.

For the third quarter, the company forecasted revenues in the range of $519 million to $523 million and non-GAAP earnings per share of about 47 cents.

Red Hat estimated revenues for the year between $2.03 billion and $2.04 billion and non-GAAP earnings per share in the range of $1.85 to $1.87.

Thor Industries, Inc ((THO)) declined 6.3% or $3.43 to $51.13 after the recreational vehicles seller stated sales in the fourth-quarter ending in July increased 2% from a year ago to $1.06 billion.

Net income in the quarter rose 6.5% to $68.97 million or $1.31 per diluted share compared to $66.6 million or $1.25 from the same quarter last year.