General Mills Net Jumps; Monsanto, Nike Profit Drop

Mukesh Buch
29 Jun, 2016
New York City

Acuity Brands net and revenues soared. Schulman surged after net swung to profit on 16% jump in revenues. General Mills net soared 39%. Monsanto profit tumbled 37% on 9% decline in revenues. Nike profit fell but revenues jumped 6%. Worthington Ind net more than doubled.

[R]2:00 PM New York – Acuity Brands net and revenues soared. Schulman surged after net swung to profit on 16% jump in revenues. General Mills net soared 39%. Monsanto profit tumbled 37% on 9% decline in revenues. Nike profit fell but revenues jumped 6%. Worthington Ind net more than doubled.[/R]

Tollbooth Index jumped 83.34 or 0.8% to 10,237.36.

Earnings Review

Acuity Brands, Inc ((AYI)) gained 1.3% or $3.24 to $247.90 after the lighting solutions provider said revenues in the third-quarter ending in May soared 25% from a year ago to $851.5 million.

Net income in the quarter surged 15% to $74 million or $1.69 per diluted share compared to $64.5 million or $1.48 per share from the same quarter last year.

A Schulman Inc ((SHLM)) surged 14.6% or $3.08 to $24.25 after the plastic formulations, resins maker stated net sales in the third-quarter ending in May jumped 15.9% from a year ago to $650.4 million.

Net in the quarter swung to profit $15.5 million or 53 cents per diluted share compared to a loss of $9.9 million or 34 cents per share from the same quarter last year.

General Mills, Inc ((GIS)) increased 2.2% or $1.48 to $67.24 after the food processor reported revenues in the fourth-quarter ending on May 29 declined 6.1% from a year ago to $16.6 billion.

Net income in the quarter soared 39% to $1.7 billion or $2.77 per diluted share compared to $1.2 billion or $1.97 per share from the same quarter last year.

Monsanto Company ((MON)) rose 1% or $1.02 to $102.11 after the agricultural products maker stated revenues in the third-quarter ending in May slumped 8.5% from a year ago to $4.19 billion.

Net income in the quarter tumbled 36.8% to $717 million or $1.63 per diluted share compared to $1.14 billion or $2.39 per share from the same quarter last year.

The company forecasted diluted earnings per share in the year between $4.40 and $5.10 and said the company is on-track to deliver $165 million to $210 million in savings from its restructuring program in fiscal year 2016.

Nike Inc ((NKE)) advanced 2.2% or $1.13 to $54.22 after the athletic footwear and accessories maker reported revenues in the fourth-quarter ending in May jumped 6% from a year ago to $8.24 billion.

Net income in the quarter fell 2% to $846 million compared to $865 million and diluted earnings per share were flat at 49 cents from the same quarter last year.

Worthington Industries, Inc ((WOR)) added 1% or 38 cents to $37.34 after the diversified metals manufacturer said revenues in the fourth-quarter ending in May plunged 15.5% from a year ago to $714.7 million.

Net income in the quarter more than doubled to $58.5 million or 92 cents per diluted share compared to $28.9 million or 44 cents per share from the same quarter last year.