Constellation Brand Misses Sales Estimate, Greenbrier Beat Estimate

Mukesh Buch
05 Jan, 2018
New York City

Constellation Brands sales missed estimates. Cal-Maine Foods net loss widened. Franklin Covey reaffirmed fiscal 2018 forecast. Greenbrier net jumped 5%. Lamb Weston beats profit forecasts. Shiloh tumbled after net swung to a loss.

[R]12:30 PM New York City, New York – Constellation Brands sales missed estimates. Cal-Maine Foods net loss widened. Franklin Covey reaffirmed fiscal 2018 forecast. Greenbrier net jumped 5%. Lamb Weston beats profit forecasts. Shiloh tumbled after net swung to a loss.[/R]

Tollbooth Index jumped 140.92 or 1% to 14,258.16.

Earnings Review

Constellation Brands, Inc ((STZ)) declined 4.1% or $9.29 to $216.50 after the beer, wine and spirits maker reported net sales in the third-quarter ending in November fell 0.5% from a year ago to $1.9 billion.

Net income in the quarter soared 21% to $491.1 million or $2.26 per diluted share from $405.9 million or $1.82 in the same quarter last year.

The alcoholic beverage maker forecasted fiscal 2018 diluted earnings per share to increase to between $8.50 and $8.60 from the reported diluted earnings per share $7.52 in fiscal 2017.

Cal-Maine Foods Inc ((CALM)) plunged 8.7% or $3.80 to $39.99 after the shell eggs producer said net sales in the second-quarter ending on December 2 surged 42.4% from a year ago to $361.2 million.

Net loss in the quarter widened to $26.1 million or 54 cents per diluted share from $23 million or 48 cents in the same quarter last year.

Franklin Covey Co ((FC)) surged 13.7% or $3 to $24.85 after the educational services provider reported revenues in the first-quarter ending in November soared 20% from a year ago to $47.9 million.

Net loss in the quarter narrowed to $2.4 million or 83 cents per diluted share from $4 million or 79 cents in the same quarter last year.

Franklin Covey reaffirmed fiscal 2018 operating profit in the range of $10 million to $15 million.

Greenbrier Companies Inc ((GBX)) slumped 4.3% or $2.25 to $50.50 after railroad freight car equipment maker stated total revenues in the first-quarter ending in November rose 1.3% from a year ago to $559.5 million.

Net income in the quarter jumped 5.2% to $26.3 million or 83 cents per diluted share from $25 million or 79 cents in the same quarter last year.

Greenbrier estimated fiscal 2018 total deliveries in the range of 20,000 units to 22,000 units including Greenbrier-Maxion, Brazil and revenues between $2.4 billion and $2.6 billion and diluted earnings per share of about $4.

Lamb Weston Holdings Inc ((LW)) increased 43 cents to $57.65 after the frozen potato, sweet potato, appetizer and vegetable supplier reported net sales in the second-quarter ending on November 26 advanced 4% from a year ago to $824.6 million.

Net income in the quarter declined 12.2% to $76.6 million or 52 cents per diluted share from $87.2 million or 59 cents in the same quarter last year.

Shiloh Industries, Inc ((SHLO)) tumbled 18.9% or $1.70 to $7.31 after the automotive, commercial vehicle supplier said revenues in the fourth-quarter ending in October plunged 6.2% from a year ago to $264.2 million.

Net in the quarter swung to a loss of $0.9 million or 4 cents per diluted share from profit of $5.3 million or 31 cents in the same quarter last year.