Energizer Sales on Hurricane Related Demand, Global Payments Beats Estimates

Mukesh Buch
08 Nov, 2017
New York City

Cable One plunged after executive chairman announced retirement. CGI Group net declined on one-time charges. Conduent net swung to a loss on weak revenues. Energizer net surged on hurricanes related revenues. Global Payments earnings beat estimates.

[R]11:55 AM New York – Cable One plunged after executive chairman announced retirement. CGI Group net declined on one-time charges. Conduent net swung to a loss on weak revenues. Energizer net surged on hurricanes related revenues. Global Payments earnings beat estimates.[/R]


Tollbooth Index increased 19.16 to 13,327.64.

Earnings Review

Cable One Inc ((CABO)) plunged 7% or $48.32 to $641.77 after the cable services provider said revenues in the third-quarter ending in September soared 23.5% from a year ago to $253.8 million.

Net income in the quarter surged 51% to $31.5 million or $5.48 per diluted share from $20.9 million or $3.63 in the same quarter last year.

The cable services provider said residential data revenues increased 26% to $109.3 million and revenues in business services segment jumped 38.4% to $35.2 million.

CGI Group Inc ((GIB)) slumped 2.9% or $1.58 to $51.74 after Canada-based outsourcing services provider reported revenues in the fourth-quarter ending in September rose 2.5% from a year ago to C$2.6 million.

Net income in the quarter plunged 24% to C$208.5 million or 70 cents per diluted share from C$274.4 million or 89 cents in the same quarter last year.

The outsourcing services provider said it booked restructuring costs in the quarter of about $65.3 million.

CGI said contract booking in the year soared 104.1% to C$11.3 billion and generated C$1.4 billion in cash from operations from a year ago.

Conduent Inc ((CNDT)) declined 4.4% or 69 cents to $15.02 after the business process services provider stated revenues in the third-quarter ending in September plummeted 7% from a year ago to $1.5 billion.

Net in the quarter swung to a loss of $17 million or 9 cents per diluted share from profit of $1 million or 1 cent in the same quarter last year.

Conduent forecasted fiscal 2017 revenues to drop in the range of 4.5% to 6.5% but operating profit to jump about 5%.

Energizer Holdings Inc ((ENR)) advanced 2.2% or 92 cents to $42.72 after the household batteries manufacturer reported net sales in the fourth-quarter ending in September jumped 7.6% from a year ago to $465.1 million.

Net income in the quarter soared 57.9% to $34.1 million or 55 cents per diluted share from $21.6 million or 34 cents in the same quarter last year.

The household batteries manufacturer estimated fiscal 2017 net sales to increase low single digits and gross margin may be a essentially flat.

Forterra Inc ((FRTA)) surged 33.2% or $1.72 to $6.73 after the water-related infrastructure provider said net sales in the third-quarter ending in September rose 0.7% from a year ago to $444.3 million.

Net in the quarter swung to a loss of $11.5 million or 18 cents per diluted share from profit of $8.4 million or 19 cents in the same quarter last year.

In the fourth quarter, Forterra forecasted net loss between $16 million and $13 million and operating profit in the range of $20 million to $25 million.

Global Payments Inc ((GPN)) slipped 1.9% or $1.96 to $101.94 after the payment technology provider reported revenues in the third-quarter ending in September increased 9.1% from a year ago to $1 billion.

Net income in the quarter doubled to $110.7 million or 71 cents per diluted share from $55.5 million or 36 cents in the same quarter last year.

The payment technology provider estimated fiscal 2017 revenue in the range of $3.51 billion to $3.53 billion or growth of 23% to 24% and earnings per share in the range of $3.94 to $4.02.

Wolverine World Wide, Inc ((WWW)) jumped 3.3% or 86 cents to $27.32 after the casual footwear and apparel manufacturer said revenues in the third-quarter ending in September slumped 3.7% from a year ago to $581.3 million.

Net income in the quarter tumbled 51.9% to $23.2 million or 24 cents per diluted share from $48.2 million or 49 cents in the same quarter last year.