ACCO, Fossil Surge on Strong Results; Hilton Revenues Jump

Mukesh Buch
14 Feb, 2018
New York City

ACCO Brands net jumped. Cedar Fair reported record earnings. Fossil surged after strong results. Hilton revenue jumps as hotel booking rise and average room rate expand. Lithia Motors profit and revenues jumped. Wyndham Worldwide net surged.

[R]12:30 PM New York City, New York – ACCO Brands net jumped. Cedar Fair reported record earnings. Fossil surged after strong results. Hilton revenue jumps as hotel booking rise and average room rate expand. Lithia Motors profit and revenues jumped. Wyndham Worldwide net surged.[/R]

Tollbooth Index increased 72.35 or 0.5% to 14,057.11.

Earnings Review

ACCO Brands Corporation ((ACCO)) surged 17.5% or $1.95 to $13.10 after the branded consumer and business products maker said net sales in the fourth-quarter ending in December surged 30% from a year ago to $566.8 million.

Net income in the quarter jumped to $74 million or 68 cents per diluted share from $6.1 million or 6 cents in the same quarter last year.

ACCO Brand said increase in net income was driven by acquisition, lower interest expense and lower effective tax rate.

Cedar Fair, L.P ((FUN)) rose 55 cents to $67.15 after the amusement, water parks and zoos operator reported revenues in the fourth-quarter ending in December soared 18.8% from a year ago to $228.2 million.

Net in the quarter swung to profit $57.5 million or $1.01 per diluted share from a loss of $6.8 million or 12 cents in the same quarter last year.

Fossil Group Inc ((FOSL)) surged 60.6% or $5.48 to $14.52 after the consumer fashion accessories distributor stated total said net sales in the fourth-quarter ending in December slipped 4% from a year ago to $920.8 million.

Net in the quarter swung to a loss of $79.9 million or $1.65 per diluted share from profit of $49.7 million or $1.03 in the same quarter last year.

Hilton Worldwide Holdings Inc ((HLT)) jumped 2.5% or $2.12 to $85.35 after the hotels and resorts operator said revenues in the fourth-quarter ending in December jumped 23.9% from a year ago to $2.3.billion.

Net in the quarter swung to profit $840 million or $2.61 per diluted share from a loss of $387 million or $1.18 in the same quarter last year.

Lithia Motors Inc ((LAD)) plunged 4.4% or $5.24 to $112.81 after the new and used vehicles retailer stated total revenues in the fourth-quarter ending in December advanced 17.9% from a year ago to $2.78 billion.

Net income in the quarter soared 74.2% to $89.4 million or $3.56 per diluted share from $51.3 million or $2.03 in the same quarter last year.

In fiscal 2018, the retailer forecasted revenues between $11 billion and $11.5 billion and diluted earnings per share of about $10.50.

Summit Materials Inc ((SUM)) soared 6.7% or $1.92 to $30.71 after the construction materials provider said revenues in the fourth-quarter ending in December increased 15.8% from a year ago to $490 million.

Net in the quarter swung to profit $43 million or 38 cents per diluted share from a loss of $0.3 million or 12 cents in the same quarter last year.

Wyndham Worldwide Corporation ((WYN)) gained 1.5% or $1.82 to $119.98 after the hospitality services provider reported total revenues in the fourth-quarter ending in December increased 5% from a year ago to $1.3 billion.

Net income in the quarter surged 173.8% to $449 million or $4.41 per diluted share from $164 million or $1.53 in the same quarter last year.