TJX Extends Earnings Win at Retailers, Dish Network Adds Pay-TV Subs

Mukesh Buch
22 Feb, 2017
New York City

Avista net and revenues increased 4%. Copart net jumped 18% on 17% increase in revenues. DISH Network net swung to profit. Morningstar net soared 89%. Southern Co net plunged 27% despite sales surged 45%. TJX net rose 2% and lifted earnings outlook. Wolverine net tumbled 84%.

[R]2:10 PM New York – Avista net and revenues increased 4%. Copart net jumped 18% on 17% increase in revenues. DISH Network net swung to profit. Morningstar net soared 89%. Southern Co net plunged 27% despite sales surged 45%. TJX net rose 2% and lifted earnings outlook. Wolverine net tumbled 84%.[/R]

Tollbooth Index decreased 30.62 or 0.3% to 11,693.34.

Earnings Review

Avista Corp ((AVA)) rose 39 cents to $39.38 after the electric and gas utility provider said revenues in the fourth-quarter ending in December rose 3.8% from a year ago to $402.1 million.

Net income in the quarter increased 4.1% to $40.1 million or 62 cents per diluted share compared to $38.5 million or 61 cents per share in the same quarter last year.

Copart, Inc ((CPRT)) declined 4.3% or $2.59 to $57.71 after the online automobile auction operator stated revenues in the second-quarter ending in December soared 16.6% from a year ago to $349.5 million.

Net income in the quarter jumped 17.8% to $66.1 million or 56 cents per diluted share compared to $59 million or 47 cents per share in the same quarter last year.

DISH Network Corp ((DISH)) gained 1.3% or 84 cents to $63.66 after the cable services provider reported revenues in the fourth-quarter ending in December decreased 1.6% from a year ago to $3.7 billion.

Net in the quarter swung to profit of $343 million or 70 cents per diluted share compared to a loss of $125 million or 27 cents per share in the same quarter last year.

In the quarter, DISH activated approx 694,000 gross new Pay-TV subscribers, an increase of 5% and for the year Pay-TV subscribers increased to 13.67 million from 13.90 million in a year ago period.

Morningstar, Inc ((MORN)) advanced 2.1% or $1.71 to $81.44 after the financial information services provider said revenues in the fourth-quarter ending in December jumped 5.3% from a year ago to $212.2 million.

Net income in the quarter soared 88.5% to $70.3 million or $1.63 per diluted share compared to $37.3 million or 85 cents per share in the same quarter last year.

The Southern Company ((SO)) increased 30 cents to $48.58 after the electricity provider reported revenues in the fourth-quarter ending in December surged 45.2% from a year ago at $5.2 billion.

Net income in the quarter plunged 27.3% to $197 million or 20 cents per diluted share compared to $271 million or 30 cents per share in the same quarter last year.

The utility provider said total electricity sales volume jumped 6.2% and retail sales increased 1.7% while wholesale volume soared 31%.

TJX Companies Inc ((TJX)) edged up 5 cents to $76.29 after the off-price retailer reported revenues in the fourth-quarter ending in December jumped 6% from a year ago to $9.5 billion.

Comparable store sales in the quarter advanced 3%.

Net income in the quarter rose 1.7% to $678 million or $1.03 per diluted share compared to $666.5 million or 99 cents per share in the same quarter last year.

In the first quarter, TJX forecasted diluted earnings per share to be in the range of 76 cents to 78 cents from 76 cents in the same period a year ago and annual diluted earnings per share in the range of $3.80 to $3.89, a 10% to 12% increase from $3.46 a year ago.

Wolverine World Wide, Inc ((WWW)) advanced 2.7% or 64 cents to $24.70 after the apparel and footwear maker said revenues in the fourth-quarter ending in December dropped 2.9% from a year ago to $729.6 million.

Net income in the quarter tumbled 83.6% to $1.9 million or 2 cents per diluted share compared to $11.6 million or 12 cents per share in the same quarter last year.

The footwear designer estimated revenues in fiscal 2017 in the range of $2.27 billion to $2.37 billion, a decline of about 5% to 9% and diluted earnings per share in the range of $1.19 to $1.29.