Advance Auto Soars on Earnings Surprise, DISH and Ecolab Net Rise

Mukesh Buch
21 Feb, 2018
New York City

Advance Auto Parts reported stronger-than-expected results. DISH Network net soared but revenues declined. Ecolab profit surged on higher segments revenues. La-Z-Boy margins declined on a legal charge. Quad/Graphics acquired Ivie & Associates.

[R]11:20 AM New York City, New York – Advance Auto Parts reported stronger-than-expected results. DISH Network net soared but revenues declined. Ecolab profit surged on higher segments revenues. La-Z-Boy margins declined on a legal charge. Quad/Graphics acquired Ivie & Associates.[/R]

Tollbooth Index advanced 113.24 or 0.8% to 14,465.70.

Earnings Review

Advance Auto Parts, Inc ((AAP)) jumped 12.2% or $12.87 to $118.36 after the automobile parts provider reported net sales in the fourth-quarter ending in December fell 2.2% from a year ago to $2 billion.

Comparable store sales in the quarter decreased 2.6%.

Net income in the quarter soared to $184.5 million or $2.49 per diluted share from $62.4 million or 84 cents in the same quarter last year.

Advance Auto Parts forecasted fiscal 2018 revenues in the range of $9.1 billion to $9.4 billion and comparable store sales to fall 2% and operating income margin between 7.3% and 7.8%.

DISH Network Corp ((DISH)) fell 44 cents to $44.13 after the wireless cable services provider said revenues in the fourth-quarter ending in December declined 7.2% from a year ago to $3.5 billion.

Net income in the quarter jumped to $1.4 billion or $2.64 per diluted share from $355 million or 73 cents in the same quarter last year.

The cable operator said as of December 31, total Pay-TV subscribers were 13.242 million and net pay-TV subscribers in the fourth quarter increased approx 39,000.

Ecolab Inc ((ECL)) fell 31 cents to $131.37 after the water, hygiene and energy technology provider reported net sales in the fourth-quarter ending in December soared 9% from a year ago to $3.7 billion.

Net income in the quarter surged 54% to $565.9 million or $1.93 per diluted share from $366.3 billion or $1.24 in the same quarter last year.

Ecolab forecasted fiscal 2018 diluted earnings per share between $5.25 and $5.45.

La-Z-Boy Inc ((LZB)) soared 10.2% or $2.95 to $31.85 after the upholstery furniture products maker stated revenues in the third-quarter ending in December advanced 6.1% from a year ago to $413.6 million.

Same store sales in the quarter increased 2.6%.

Net income in the quarter plunged 48.1% to $12.1 million or 25 cents per diluted share from $23.3 million or 47 cents in the same quarter last year.

Quad/Graphics, Inc ((QUAD)) surged 18.6% or $4.10 to $26.15 after the marketing services provider said net sales in the fourth-quarter ending in December slumped 3.3% from a year ago to $1.2 billion.

Net income in the quarter soared 47.5% to $55.3 million or $1.06 per diluted share from $37.5 million or 73 cents in the same quarter last year.

Quad/Graphics estimated fiscal 2018 revenues in the range of $4 billion to $4.2 billion and operating profit to decline to between $410 million and $450 million.

Separately today, marketing services provider said it had acquired fastest-growing privately held Ivie & Associates, a premier marketing services provider for undisclosed financial terms.

Wolverine World Wide, Inc ((WWW)) declined 4.5% or $1.39 to $29.36 after the footwear and apparels maker said revenues in the fourth-quarter ending in December plummeted 20.7% from a year ago to $578.6 million.

Net loss in the quarter widened to $60.3 million or 65 cents per diluted share from $1.9 million or 2 cents in the same quarter last year.

Wolverine changed its fiscal calendar and said quarterly results will be released on the basis of 12-week periods for each of the first three fiscal quarters and a 16 or 17-week period for the fiscal fourth quarter but fiscal year-end date will remain unchanged.