Best Buy, Daktronics, Nordson, Smucker, Toll Brothers Profit Jump

Mukesh Buch
23 Aug, 2016
New York City

Best Buy net income surged as online sales soared 24%. Daktronics net soared. Nordson lifted revenues forecast. Premier said net income and revenues advanced. Regis net swung to profit. Smucker net soared 25% but revenues declined. Toll Brothers net and revenues surged.

[R]2:00 PM New York – Best Buy net income surged as online sales soared 24%. Daktronics net soared. Nordson lifted revenues forecast. Premier said net income and revenues advanced. Regis net swung to profit. Smucker net soared 25% but revenues declined. Toll Brothers net and revenues surged.[/R]

Tollbooth Index increased 40.93 or 0.4% to 11,178.49.

Earnings Review

Best Buy Co. ((BBY)) surged 18.5% or $6.08 to $38.87 after the electronic products retailer reported revenues in the second-quarter ending in July were flat from a year ago at $8.5 billion.

Comparable store sales in the quarter increased 0.8% but online sales soared 23.7%.

Net income in the quarter surged 20.7% to $198 million or 61 cents per diluted share compared to the $164 million or 46 cents per share from the same quarter last year.

Best Buy forecasted revenues in the in the third-quarter in the range of $8.8 billion to $8.9 billion, or flat to 1% growth and diluted earnings per share in the range of 43 cents to 47 cents.

Daktronics, Inc ((DAKT)) surged 23.8% or $1.65 to $8.58 after the electronic scoreboards supplier net sales in the first-quarter ending in July advanced 4.6% from a year ago to $157.1 million.

Net income in the quarter soared 44.7% to $5.5 million or 13 cents per diluted share compared to the $3.8 million or 9 cents per share from the same quarter last year.

Nordson Corp ((NDSN)) jumped 9% or $8.31 to $100.56 after the adhesive dispensing equipment maker reported net sales in the second-quarter ending in July increased 5.9% from a year ago to $489.9 million.

Net income in the quarter advanced 21.3% to $84.2 million or $1.46 per diluted share compared to the $69.4 million or $1.14 per share from the same quarter last year.

Nordson estimated revenues in the fourth-quarter to increase between 6% and 10% and diluted earnings per share in the range of $1.15 to $1.27.

Premier Inc ((PINC)) plunged 8% or $2.70 to $31.04 after the healthcare services provider said net revenues in the fourth-quarter ending in July soared 13% from a year ago to $301.4 million.

Net income in the quarter jumped 57% to $50.4 million or 30 cents per diluted share compared to the $32.1 million or diluted loss per share of $2.24 from the same quarter last year.

Regis Corporation ((RGS)) increased 2.8% or 38 cents to $13.78 after the beauty salons operator stated revenues in the fourth-quarter ending in June dropped 3.3% from a year ago to $447.7 million.

Same store sales in the quarter decreased 1.4%

Net in the quarter swung to profit $5.6 million or 12 cents per diluted share compared to the loss of $2.6 million or 5 cents per share from the same quarter last year.

J M Smucker Co ((SJM)) declined 8.1% or $12.63 to $143.64 after the branded food and beverage products maker reported net sales in the first-quarter ending in July slumped 7% from a year ago to $1.82 billion.

Comparable store sales in the quarter tumbled 10.8% but online sales increased 1.4% to $20.4 million.

Net income in the quarter soared 25% to $170 million or $1.46 per diluted share compared to the $136.4 million or $1.14 per share from the same quarter last year.

Toll Brothers Inc ((TOL)) jumped 8.3% or $2.43 to $31.75 after the luxury residential buildings maker said revenues in the third-quarter ending in July advanced 24% from a year ago to $1.27 billion.

Net income in the quarter surged 58% to $105.5 million or 61 cents per diluted share compared to the $66.7 million or 36 cents per share from the same quarter last year.