DISH Subscriber Base Shrinks; Kraft Heinz Net Tumbles

Mukesh Buch
03 Aug, 2018
New York City

Ameren lifted fiscal 2018 earnings outlook. DISH Network beats revenue estimate despite a decline in subscriber base. HMS Holdings The Kraft Heinz net tumbled on higher costs. Noble Energy missed earnings estimates. Western Union declined on weak forecast.

[R]12:45 PM New York City, New York – Ameren lifted fiscal 2018 earnings outlook. DISH Network beats revenue estimate despite a decline in subscriber base. HMS Holdings The Kraft Heinz net tumbled on higher costs. Noble Energy missed earnings estimates. Western Union declined on weak forecast.[/R]

Tollbooth Index jumped 120.13 or 0.8% to 15,754.30 but for the year-to-date soared 14.5%.

Earnings Review

Ameren Corp ((AEE)) increased 61 cents to $62.38 after the electricity and gas transmission services provider said revenues in the second-quarter ending in June rose 1.3% from a year ago to $1.6 billion.

Net income in the quarter soared 23.7% to $240 million or 97 cents per diluted share from $194 million or 79 cents in the same quarter last year.

Ameren lifted fiscal 2018 diluted earnings per share forecast in the range of $3.15 to $3.35 from the earlier estimate of $2.95 to $3.15.

DISH Network Corporation ((DISH)) surged 7.3% or $2.19 to $32.05 after the pay-TV services provider said revenues in the second-quarter ending in June grew 1.2% from a year ago to $3.5 billion.

Net income in the quarter surged to $439 million or 83 cents per diluted share from $40 million or 9 cents in the same quarter last year.

The pay-TV services provider said as of June 30, Pay-TV subscribers dropped to 12.997 million from 13.332 million in the same period a year ago.

In the quarter, net Pay-TV subscribers declined approx 151,000 subscribers compared to a decline of 196,000 in the same period a year ago.

HMS Holdings Corp ((HMSY)) surged 16.7% or $4.14 to $29 after the healthcare insurance provider stated revenues in the second-quarter ending in June jumped 3.8% from a year ago to $146.8 million.

Net in the quarter swung to a loss of $3.4 million or 4 cents per diluted share from profit of $6.4 million or 7 cents in the same quarter last year.

The insurer lifted fiscal 2018 revenues forecast in the range of $575 million to $585 million from the earlier estimate of $560 million and $570 million.

The healthcare services provider lowered fiscal 2018 net income forecast between $23 million to $26 million from the earlier estimate of $29 million to $33 million.

The Kraft Heinz Company ((KHC)) soared 8.9% or $5.31 to $64.71 after the food and beverage maker reported net sales in the second-quarter ending in June increased 0.7% from a year ago to $6.7 billion.

Net income in the quarter tumbled 34.8% to $756 million or 62 cents per diluted share from $1.2 billion or 94 cents in the same quarter last year.

In a conference call with investors, chief financial officer David Knopf said higher costs, transportation freight, packaging, foil and aluminum costs leads profit declines.

Noble Energy Inc ((NBL)) declined 7.8% or $2.80 to $32.92 after the oil and gas producer said revenues sales in the second-quarter ending in June jumped 9.1% from a year ago to $1.2 billion.

Net loss in the quarter narrowed to $23 million or 5 cents per diluted share from $1.5 billion or $3.20 in the same quarter last year.

The Western Union Company ((WU)) plummeted 5.9% or $1.21 to $19.39 after the money transfers services provider said revenues in the second-quarter ending in June advanced 2% from a year ago to $1.4 billion.

Net income in the quarter surged 34% to $217.6 million or 47 cents per diluted share from $166.5 million or 35 cents in the same quarter last year.

Western Union lowered fiscal 2018 revenues forecast to low single-digit increase from the earlier estimate of low to mid-single digit increase and operating margin of about 20%.

The company lifted diluted earnings per share in the range of $1.82 to $1.92 from the earlier estimate of $1.81 to $1.91.