Dollar General Beats Earnings Estimate, ADT Net Swing to Profit

Mukesh Buch
15 Mar, 2018
New York City

ADT net swing to profit after revenues jumped. Agenus declined after net loss widened. Dollar General reported strong profit and same store sales. Genesco net and sales jumped. Nucor said earnings in the first-quarter to decline from a year ago period.

[R]12:55 PM New York City, New York – ADT net swing to profit after revenues jumped. Agenus declined after net loss widened. Dollar General reported strong profit and same store sales. Genesco net and sales jumped. Nucor said earnings in the first-quarter to decline from a year ago period.[/R]

Tollbooth Index jumped 83.58 or 0.6% to 14,766.43.

Earnings Review

ADT Inc ((ADT)) plunged 8.9% or 91 cents to $9.32 after the security services provider said total revenue in the fourth-quarter ending in December jumped 5% from a year ago to $1.1 billion.

Net in the quarter swung to profit $638 million or 99 cents per diluted share from a loss of $85 million or 13 cents in the same quarter last year.

The security surveillance services provider forecasted fiscal 2018 total revenue between $4.45 billion and $4.55 billion and operating profit in the range of $2.42 billion and $2.44 billion.

Agenus Inc ((AGEN)) declined 7.4% or 42 cents to $5.30 after the drugs-maker said revenue in the fourth-quarter ending in December surged 50% from a year ago to $8.4 million.

Net loss in the quarter widened to $35.1 million or 35 cents per diluted share from $26.2 million or 30 cents in the same quarter last year.

Dollar General Corporation ((DG)) soared 6.1% or $5.44 to $94.67 after the discount retailer reported net sales in the fourth-quarter ending on February 3 rose 2% from a year ago to $6.1 billion.

Same store sales in the quarter jumped 3.3%.

Net income in the quarter surged 71.9% to $712 million or $2.63 per diluted share from $414 million or $1.49 in the same quarter last year.

The discount retailer forecasted fiscal 2018 revenues to increase 9% and same-store sales growth in the mid-two percent range and diluted earnings per share in the range of $5.95 to $6.15.

The retailer also plans to open approx 900 new stores, remodel 1,000 stores and relocate 100 stores in fiscal year 2018.

Genesco Inc ((GCO)) dropped 2.7% or $1.10 to $39.40 after the footwear, apparel and accessories retailer and wholesaler said net sales in the fourth-quarter ending on February 3 advanced 5% from a year ago to $930 million.

Comparable store sales (including same store sales and comparable e-commerce and catalog sales) in the quarter increased 1% and online sales surged 15%.

Net income in the quarter jumped 20.4% to $56 million or $2.90 per diluted share from $46.5 million or $2.39 in the same quarter last year.

Nucor Corporation ((NUE)) gained 32 cents to $66.32 after the steel and steel products manufacturer said diluted earnings per share in the first quarter ending in March 31, in the range of $1 to $1.05 compared to $1.20 per share in the same period a year ago.

In fiscal 2018, average selling prices will increase and earnings in the steel mills segment will be improved.