Delta Air June Traffic Rises, Acuity Brands Sales Jump

Mukesh Buch
03 Jul, 2018
New York City

Acuity Brands sales jumped on strong demand. AZZ soared on higher earnings and the electrical equipment maker reaffirmed fiscal 2019 outlook. Delta Air Lines traffic in June increased. Herman Miller profit declined but revenues jumped.

[R]12:10 PM New York City, New York – Acuity Brands sales jumped on strong demand. AZZ soared on higher earnings and the electrical equipment maker reaffirmed fiscal 2019 outlook. Delta Air Lines traffic in June increased. Herman Miller profit declined but revenues jumped.[/R]

Tollbooth Index increased 85.72 or 0.6% to 15,060.68 but for the year-to-date soared 9.5%.

Earnings Review

Acuity Brands, Inc ((AYI)) surged 15.4% or $18.02 to $135.14 after the lighting products provider reported revenues in the third-quarter ending in May jumped 5.9% from a year ago to $944 million.

Net income in the quarter plunged 11.2% to $73 million or $1.80 per diluted share from $82.2 million or $1.90 in the same quarter last year.

The lighting products provider said operating profit in the quarter declined 19.5% to $105.9 million from a year ago period.

AZZ Inc ((AZZ)) soared 14.6% or $6.35 to $49.95 after the electrical equipment and engineered services said revenues in the first-quarter ending in May surged 27.7% from a year ago to $262.2 million.

Net income in the quarter jumped 30.3% to $15.7 million or 60 cents per diluted share from $12.1 million or 46 cents in the same quarter last year.

AZZ reaffirmed fiscal 2019 revenues forecast in the range of $900 million to $960 million and diluted earnings per share in the range of $1.75 to $2.25.

Delta Air Lines, Inc ((DAL)) slipped 1.8% or 88 cents to $49.05 after the airline operator said traffic in June increased 3% to 21.4 billion revenue passenger miles and capacity advanced 3% to 24.2 billion available seat miles and load factor was flat at 88.5% from a year ago month.

Delta reaffirmed second-quarter earnings per share forecast to between$1.65 and $1.75 and pre-tax margin growth between 13% and 14%.

Herman Miller Inc ((MLHR)) jumped 10.7% or $3.67 to $38.12 after the interior furnishings maker said revenues in the fourth-quarter ending on June 2 soared 7.1% from a year ago to $618 million.

Net income in the quarter slumped 4.8% to $31.8 million or 53 cents per diluted share from $33.4 million or 55 cents in the same quarter last year.

The interior furnishings maker said new orders in the quarter surged 9.3% to $620.8 million from a year ago period.

Herman Miller forecasted fiscal first-quarter net sales to be in the range of $610 million to $630 million and diluted earnings per share in the range of 63 cents to 67 cents.

PriceSmart Inc ((PSMT)) rose 65 cents to $90.40 ahead of the membership warehouse club operator releasing third-quarter earnings results.