Altria Offers Cautious Outlook, Acquisition Powers Energizer Results

Mukesh Buch
01 Feb, 2017
New York City

Altria net surged on SAB Miller deal but revenues declined 1.4% and fell short of expectations. Baxter net soared 19%. Celanese net swung to profit. Energizer profit tumbled 57%. Ingersoll-Rand net plunged 15%. Johnson Controls net plummeted 27%. Tupperware profit surged 36%.

[R]11:40 AM New York – Altria net surged on SAB Miller deal but revenues declined 1.4% and fell short of expectations. Baxter net soared 19%. Celanese net swung to profit. Energizer profit tumbled 57%. Ingersoll-Rand net plunged 15%. Johnson Controls net plummeted 27%. Tupperware profit surged 36%.[/R]

Tollbooth Index fell 21.67 or 0.2% to 11,237.92.

Earnings Review

Altria Group Inc ((MO)) decreased 67 cents to $70.51 after the tobacco products and wine maker said net revenues in the fourth-quarter ending in December fell 1% from a year ago to $6.25 billion.

Net income in the quarter soared to $10.25 billion or $5.27 per diluted share compared to the $1.25 million or 64 cents per share in the same quarter last year.

Altria recorded a pre-tax gain on transaction of $13.7 billion on business combination of AB InBev and SABMiller in last year. Operating earnings before the gain linked to the AB InBev and SAB Miller business combination increased 1.4% to $1,99 billion from $1.96 billion.

Altria purchased approx 12 million shares of AB InBev, increasing its ownership to approximately 10.2%.

In October 2016, AB InBev acquired SABMiller plc and Altria received shares representing 9.6% ownership in the combined company.

Baxter International Inc ((BAX)) slipped 1.6% or 78 cents to $47.17 after the renal and hospital products provider reported revenues in the fourth-quarter ending in December rose 2% from a year ago to $2.6 billion.

Net income in the quarter soared 19% to $243 million or 44 cents per diluted share compared to the $205 million or 37 cents per share in the same quarter last year.

Celanese Corporation ((CE)) fell 48 cents to $83.92 after the specialty chemicals producer said revenues income in the fourth-quarter ending in December fell 1.5% from a year ago to $1.31 billion.

Net in the quarter swung to profit $161 million or $1.12 per diluted share compared to the loss of $301 million or $2.03 per share in the same quarter last year.

Energizer Holdings Inc ((ENR)) jumped 2.8% or $1.43 to $51.90 after the batteries and lighting products maker stated net sales in the first-quarter ending in December soared 10.4% from a year ago to $559.6 million.

Net income in the quarter tumbled 57% to $95.6 million or $1.52 per diluted share compared to the $65.5 million or $1.05 per share in the same quarter last year.

Ingersoll-Rand Plc ((IR)) slumped 2% or $1.61 to $77.74 after the Ireland-based industrial machinery and equipment maker reported revenues in the fourth-quarter ending in December rose 1% from a year ago to $3.36 billion.

Net income in the quarter plunged 14.9% to $198.8 million or 75 cents per diluted share compared to the $233.5 million or 88 cents per share in the same quarter last year.

Johnson Controls International Plc ((JCI)) dropped 3.2% or $1.39 to $42.59 after the Ireland-based diversified technology provider reported revenues in the first-quarter ending in December increased 1% from a year ago to $7.1 billion.

Net income in the quarter plummeted 26.9% to $329 million or 35 cents per diluted share compared to the $450 million or 69 cents per share in the same quarter last year.

Tupperware Brands Corporation ((TUP)) declined 5.1% or $3.06 to $57.30 after the cosmetics and personal care products maker said sales in the fourth-quarter ending in December grew 1% from a year ago to $600.9 million.

Net income in the quarter surged 35.9% to $79 million or $1.55 per diluted share compared to the $58.1 million or $1.15 per share in the same quarter last year.