Coca-Cola Revenue Plunges, Deere Lifts Revenue Estimates

Mukesh Buch
16 Feb, 2018
New York City

Ameren net swung to a loss on tax bill charges. Barnes Group beats earnings estimates. Coca-Cola net swung to a loss and revenues plunged 20%. Deere & Co lifted revenues forecast. Smucker raised fiscal outlook.

[R]12:45 PM New York City, New York – Ameren net swung to a loss on tax bill charges. Barnes Group beats earnings estimates. Coca-Cola net swung to a loss and revenues plunged 20%. Deere & Co lifted revenues forecast. Smucker raised fiscal outlook.[/R]

Tollbooth Index jumped 102.13 or 0.7% to 14,506.51.

Earnings Review

Ameren Corp ((AEE)) slid 5 cents to $56.20 after the electric and gas provider reported revenues in the fourth-quarter ending in December rose 2.9% from a year ago to $1.4 billion.

Net in the quarter swung to a loss of $60 million or 24 cents per diluted share from profit of $32 million or 13 cents in the same quarter last year.

Ameren forecasted fiscal 2018 diluted earnings per share in a range of $2.95 to $3.15, growth of approx 7% compounded annually from 2017 through 2022.

Barnes Group Inc ((B)) gained 1.7% or $1.06 to $63.80 after the industrial and aerospace products maker said sales in the fourth-quarter ending in December soared 15.1% from a year ago to $373 million.

Net in the quarter swung to a loss of $59.2 million or $1.10 per diluted share from profit of $36.7 million or 67 cents in the same quarter last year.

Barnes Group forecasted fiscal 2018 total revenue growth in the range of 4% to 6% and diluted earnings per share in the range of $2.98 to $3.13.

The Coca-Cola Co ((KO)) increased 32 cents to $45.14 after the non-alcoholic beverage maker reported revenues in the fourth-quarter ending in December plunged 20% from a year ago to $7.5 billion.

Net in the quarter swung to a loss of $2.8 billion or 65 cents per diluted share from profit of $550 million or 13 cents in the same quarter last year.

Deere & Company ((DE)) jumped 3.9% or $6.54 to $173.44 after the agriculture and turf, construction equipment maker said revenues in the first-quarter ending in December surged 23.2% from a year ago to $6.9 billion.

Net in the quarter swung to a loss of $535.1 million or $1.66 per diluted share from profit of $199 million or 62 cents in the same quarter last year.

Deere lifted fiscal 2018 revenues forecast of about 25% from the earlier estimate of 22% and net income of $2.85 billion.

J M Smucker Co ((SJM)) gained 38 cents to $122.91 after the branded food and beverage products maker reported revenues in the third-quarter ending in December increased 1% from a year ago to $1.9 billion.

Net income in the quarter jumped to $831.3 million or $7.32 per diluted share from profit of $134.6 million or $1.16 in the same quarter last year.

The food and beverage products maker lifted earnings per share forecast to between $8.20 and $8.30 from the earlier estimate of $7.75 to $7.90.