Cantel, Greif Net Soar; Lululemon, Ferrellgas Net Drop

Mukesh Buch
08 Jun, 2016
New York City

Brown-Forman net surged more than three-fold. Cantel Medical net and sales soared. Ferrellgas Partners profit plunged 48%. Greif net soared 50% but revenues declined 8%. Lululemon net fell 5% while revenues soared 17%. Piedmont Natural Gas revenues plummeted 18%.

[R]3:00 PM New York – Brown-Forman net surged more than three-fold. Cantel Medical net and sales soared. Ferrellgas Partners profit plunged 48%. Greif net soared 50% but revenues declined 8%. Lululemon net fell 5% while revenues soared 17%. Piedmont Natural Gas revenues plummeted 18%.[/R]

Tollbooth Index gained 48.32 or 0.5% to 10,769.38.

Earnings Review

Brown-Forman Corporation ((BFA)) jumped 3.1% or $3.27 to $108.38 after the alcoholic beverages maker reported net sales in the fourth-quarter ending in April fell 1% from a year ago to $933 million.

Net income in the quarter surged 272% to $522 million or $2.60 per diluted share compared to $140 million or 66 cents per share from the same quarter last year.

Cantel Medical Corp ((CMN)) advanced 3.4% or $2.33 to $71.07 after the healthcare products provider said net sales in the third-quarter ending in April soared 22.8% from a year ago to $173.7 million.

Net income in the quarter surged 12.9% to $14 million or 34 cents per diluted share compared to $12.4 million or 30 cents per share from the same quarter last year.

Ferrellgas Partners, L.P ((FGP)) slipped 1.4% or 32 cents to $18.53 after the propane retailer stated revenues in the third-quarter ending in April dropped 4.3% from a year ago to $509.5 million.

Net income in the quarter plunged 47.9% to $18.5 million or 19 cents per diluted share compared to $35.5 million or 43 cents per share from the same quarter last year.

Greif, Inc ((GEF)) declined 4.9% or $1.84 to $35.82 after the industrial packaging products maker stated net sales in the second-quarter ending in April slumped 8.3% from a year ago to $839.6 million.

Net income in the quarter soared 50.1% to $31.4 million or 53 cents per diluted share compared to $20.8 million or 53 cents per share from the same quarter last year.

Lululemon Athletica Inc ((LULU)) gained 1.8% or $1.19 to $69.33 after the athletic apparel and accessories maker reported net revenues in the first-quarter ending on May 1 soared 17% from a year ago to $495.5 million.

Comparable store sales in the quarter increased 3% and direct to consumer jumped 6%.

Net income in the quarter dropped 5.2% to $45.3 million or 33 cents per diluted share compared to $47.8 million or 34 cents per share from the same quarter last year.

The athletic apparel retailer forecasted net sales in the second-quarter between $505 million and $515 million and diluted earnings per share in the range of 36 cents to 38 cents.

Lululemon estimated revenues in the fiscal 2016 in the range of $2.31 billion to $2.35 billion and diluted earnings per share between $2.08 and $2.18.

Piedmont Natural Gas Company, Inc ((PNY)) fell 15 cents to $60.10 after the energy services provider said revenues in the second-quarter ending in April plunged 18% from a year ago to $350.2 million.

Net income in the quarter slid 4% to $63.4 million or 78 cents per diluted share compared to $66.4 million or 84 cents per share from the same quarter last year.