General Mills Declines on Weak Outlook, Winnebago Profit Surges

Mukesh Buch
21 Mar, 2018
New York City

Arcos Dorados net surged on 8% jump in revenues. Actuant declined after net swung to a loss. General Mills tumbled on operating profit forecast. PQ Group net and revenues soared. Winnebago profit surged 44%.

[R]1:10 PM New York City, New York – Arcos Dorados net surged on 8% jump in revenues. Actuant declined after net swung to a loss. General Mills tumbled on operating profit forecast. PQ Group net and revenues soared. Winnebago profit surged 44%.[/R]

Arcos Dorados Holdings Inc ((ARCO)) increased 1.3% or 12 cents to $9.78 after the McDonald''s franchisee operator said total revenues in the fourth-quarter ending in December soared 7.6% from a year ago to $896.9 million.

Comparable store sales in the quarter jumped 9.1%.

Net income in the quarter surged to $69.3 million or 33 cents per diluted share from $21.2 million or 10 cents in the same quarter last year.

Actuant Corporation ((ATU)) declined 4.9% or $1.15 to $22.55 after the diversified industrial conglomerate stated total sales in the second-quarter ending in February jumped 6% from a year ago to $275 million.

Net in the quarter swung to a loss of $18.2 million or 30 cents per diluted share from profit of $5.1 million or 8 cents in the same quarter last year.

The industrial conglomerate estimated revenues in the third-quarter between $300 million and $310 million and diluted earnings per share in the range of 33 cents to 38 cents.

Actuant forecasted fiscal 2018 revenues growth in the range of $1.14 billion to $1.16 billion and diluted earnings per share in the range of $1 $1.10.

General Mills Inc ((GIS)) tumbled 8.9% or $4.48 to $45.46 after the branded consumer foods manufactures reported net sales in the third-quarter ending on February 25 increased 2% from a year ago to $3.9 billion.

Net income in the quarter soared to $941 million or $1.62 per diluted share from $357.8 million or 61 cents in the same quarter last year.

General Mills lowered operating profit forecast to decline between 5% and 6% from the earlier estimate of between flat to decrease of 1%.

Guess? Inc ((GES)) jumped 3.3% or 50 cents to $15.48 ahead of its fourth-quarter results after market close.

PQ Group Holdings Inc ((PQG)) soared 5.1% or 69 cents to $14.23 after the specialty chemicals maker said net sales in the fourth-quarter ending in December advanced 10.9% from a year ago to $358.1 million.

Net income in the quarter jumped 12.1% to $65.6 million or 49 cents per diluted share from $10.7 million or 10 cents in the same quarter last year.

Winnebago Industries Inc ((WGO)) slumped 4.4% or $1.95 to $42.05 after the specialty vehicles and parts maker said revenues in the second-quarter ending on February 24 jumped 26.4% from a year ago to $468.4 million.

Net income in the quarter surged 44.4% to $22.1 million or 69 cents per diluted share from $15.3 million or 48 cents in the same quarter last year.