Cracker Barrel Net Rises 2%, Hibbett Sports Misses Sales Estimate

Mukesh Buch
27 Nov, 2018
New York City

Cracker Barrel beats earnings results. Diana Shipping reported better-than- expected results. Eaton Vance income edged up. Hibbett Sports missed earnings estimates. MTS Systems net doubled.

[R]11:35 PM New York City, New York – Cracker Barrel beats earnings results. Diana Shipping reported better-than- expected results. Eaton Vance income edged up. Hibbett Sports missed earnings estimates. MTS Systems net doubled.[/R]

Tollbooth Index advanced 77.91 or 0.5% to 14,875.34 but for the year-to-date soared 8.1%.

Earnings Review

Cracker Barrel Old Country Store Inc ((CBRL)) fell 38 cents to $174.63 after the full-service restaurants operator reported total revenues in the first-quarter ending on November 2 advanced 3.3% from a year ago to $733.5 million.

Comparable retail sales in the quarter jumped 4.3% and comparable restaurant sales increased 1.4% but comparable restaurant traffic dropped 1.6%.

Net income in the quarter rose 2% to $47.2 million or $1.96 per diluted share from $46.4 million or $1.92 in the same quarter last year.

The restaurants operator forecasted fiscal 2019 revenues of about $3.04 billion and comparable store retail sales growth in the range of 1% to 2% and diluted earnings per share between $8.95 and $9.10 from $8.87 in the same period a year ago.

Diana Shipping Inc ((DSX)) soared 6.6% or 22 cents to $3.54 after the shipping transportation provider stated revenues in the third-quarter ending in September surged 40.1% from a year ago to $61.5 million.

Net in the quarter swung to profit $13.3 million or 13 cents per diluted share from a loss of $25.9 million or 25 cents in the same quarter last year.

Eaton Vance Corporation ((EV)) rose 20 cents to $41.99 after the investment manager revenues in the fourth-quarter ending in October increased 1.3% from a year ago to $436 million.

Net income in the quarter grew 1.9% to $102.4 million or 87 cents per diluted share from $100.5 million or 83 cents in the same quarter last year.

Hibbett Sports Inc ((HIBB)) rose 11 cents to $18.07 after the sports goods retailer said total net sales in the third-quarter ending on November 3 declined 8.8% from a year ago to $216.9 million.

Comparable retail sales in the quarter increased 0.1% and online sales soared 8.8%.

Net income in the quarter plunged 80.3% to $1.5 million or 8 cents per diluted share from $7.6 million or 37 cents in the same quarter last year.

The retailer forecasted fiscal 2019 diluted earnings per share in the range of $1.35 to $1.48 and lifted comparable store sales forecast in the range of flat to 1% from the earlier estimate of 1% to decline to 1% increase.

MTS Systems Corporation ((MTSC)) declined 5.6% or $2.68 to $45 after the industrial sensors provider said revenues in the fourth-quarter ending on September 29 fell 1.8% from a year ago to $197.9 million.

Net income in the quarter doubled to $10.8 million or 56 cents per diluted share from $5.6 million or 29 cents in the same quarter last year.

MTS Systems forecasted fiscal 2019 revenues in the range of $830 million to $870 million and net income between $122 million to $142 million and diluted earnings per share in the range of $2.30 to $2.60.