Toll Brothers Misses Earnings Estimates, AutoZone Beats Earnings View

Mukesh Buch
05 Dec, 2017
New York City

AutoZone beats quarterly result expectations. Ascena Retail plunged. Bank of Montreal said profit impacted by hurricanes. J.Jill net plunged 23%. Toll Brothers stock eased off.

[R]11:55 AM New York – AutoZone beats quarterly result expectations. Ascena Retail plunged. Bank of Montreal said profit impacted by hurricanes. J.Jill net plunged 23%. Toll Brothers stock eased off.[/R]

Tollbooth Index advanced 84.58 or 0.6% to 13,665.60.

Earnings Review

AutoZone, Inc ((AZO)) jumped 4.5% or $31.18 to $731.99 after the automobile parts and accessories retailer reported net sales in the first-quarter ending on November 18 increased 4.9% from a year ago to $2.6 billion.

Domestic same store sales in the quarter advanced 2.3%.

Net income in the quarter rose 1% to $281 million or $10 per diluted share from $278.1 million or $9.36 in the same quarter last year.

Ascena Retail Group Inc ((ASNA)) plunged 21.8% or 57 cents to $2.04 after the specialty retailer said net sales in the first-quarter ending on October 28 dropped 5.4% from a year ago to $1.59 billion.

Comparable store sales in the quarter declined 5%.

Net income in the quarter slumped 50% to $6.6 million or 3 cents per diluted share from $14.4 million or 7 cents in the same quarter last year.

The women’s specialty retailer estimated fiscal 2018 second-quarter net sales in the range of $1.62 billion to $1.66 billion and comparable sales to decline between 4% and 6%.

Bank of Montreal ((BMO)) slid 23 cents to $78.13 after Canada-based financial services provider reported total net interest income in the fourth-quarter ending in October soared 13.5% from a year ago to $4.2 billion.

Net income in the quarter declined 8.9% to $1.2 billion or $1.81 per diluted share from $1.3 billion or $2.02 in the same quarter last year.

Emcore Corporation ((EMKR)) tumbled 18.9% or $1.40 to $.03 after the optical chips maker stated revenues in the fourth-quarter ending in September jumped 14.1% from a year ago to $29.2 million.

Net income in the quarter surged 10% to $2.2 million or 8 cents per diluted share from $2 million or 7 cents in the same quarter last year.

J. Jill Inc ((JILL)) soared 6.8% or 66 cents to $6.90 after the women’s specialty retailer said total net sales in the third-quarter ending on October 28 rose 1.6% from a year ago to $162 million.

Comparable store sales in the quarter decreased 0.6%.

Net income in the quarter plunged 23.1% to $6 million or 14 cents per diluted share from $7.8 million or 18 cents in the same quarter last year.

The retailer forecasted fiscal 2017 total comparable sales to increase between 4% and 5% and diluted earnings per share in the range of 64 cents to 66 cents.

Toll Brothers Inc ((TOLL)) slumped 7.5% or $3.81 to $46.85 after the luxury residential homes maker reported revenues in the fourth-quarter ending in October advanced 9% from a year ago to $2.03 billion.

Net income in the quarter soared 67.7% to $191.9 million or $1.17 per diluted share from $114.4 million or 67 cents in the same quarter last year.

The home builder said net signed contract value jumped 20% to $1.75 billion and contract units surged 15% to 1,979 units and backlog value soared 27% to $5.06 billion.