FedEx Raise Revenues Forecast, Oracle Cloud Revenues Lift Results

Mukesh Buch
20 Jun, 2018
New York City

Actuant lifted fiscal outlook. FedEx raised fiscal outlook. La-Z-Boy missed revenue estimates. Oracle reported strong growth after cloud services revenues soared. Winnebago beats earnings estimates.

[R]12:15 PM New York City, New York – Actuant lifted fiscal outlook. FedEx raised fiscal outlook. La-Z-Boy missed revenue estimates. Oracle reported strong growth after cloud services revenues soared. Winnebago beats earnings estimates.[/R]

Tollbooth Index jumped 180.12 or 1.2% to 15,473.55 but for the year-to-date soared 12.5%.

Earnings Review

Actuant Corporation ((ATU)) soared 6.6% or $1.70 to $27.65 after the diversified industrial conglomerate said sales in the third-quarter ending in May jumped 7% from a year ago to $317.1 million.

Net income in the quarter surged 28.9% to $29 million or 48 cents per diluted share from $22.5 million or 37 cents in the same quarter last year.

Actuant reaffirmed fiscal 2018 core sales growth between 3% to 5% and sales in the range of $1.17 billion to $1.18 billion and diluted earnings per share in the range of $1.03 to $1.08.

FedEx Corporation ((FDX)) slipped 1.6% or $4.11 to $254.28 after the parcel delivery services provider reported revenues in the fourth-quarter ending in May surged 10.1% from a year ago to $17.3 billion.

Net income in the quarter soared 10.8% to $1.13 billion or $4.15 per diluted share from $1.02 billion or $3.75 in the same quarter last year.

FedEx forecasted fiscal 2019 revenue growth of 9% and operating margin growth of 8.5%, excluding TNT Express, from 7.8% in a year ago period and diluted earnings per share in the range of $15.65 to $16.25.

La-Z-Boy Inc ((LZB)) slumped 2.9% or 95 cents to $32.30 after the upholstery furniture products maker stated revenues in the fourth-quarter ending on April 28 rose 1.8% from a year ago to $420 million.

Same-store sales for the La-Z-Boy Furniture Galleries network in the quarter jumped 3.9%.

Net income in the quarter jumped 22.1% to $34.2 million or 72 cents per diluted share from $28 million or 57 cents in the same quarter last year.

Oracle Corporation ((ORCL)) declined 7.1% or $3.26 to $43.01 after the enterprise software developer reported revenues in the fourth-quarter ending in May advanced 3.3% from a year ago to $11.3 billion.

Net income in the quarter jumped 6.3% to $3.4 billion or 82 cents per diluted share from $3.2 billion or 76 cents in the same quarter last year.

Oracle said cloud services and license support revenues soared 8% to $6.8 billion but cloud license and on-premise license revenues declined 5% to $2.5 billion.

Winnebago Industries Inc ((WGO)) surged 13.7% or $5.56 to $45.88 after the specialty vehicles and parts maker said revenues third-quarter ending on May 26 soared 18% from a year ago to $562.3 million.

Net income in the quarter jumped 67.5% to $32.5 million or $1.02 per diluted share from $19.4 million or 61 cents in the same quarter last year.