Accenture Revenues Surges; Conagra, Walgreens Beat Earnings Estimates

Mukesh Buch
20 Dec, 2018
New York City

Accenture declined despite outsourcing services provider lifted fiscal outlook. BlackBerry net swung to profit. Carnival beats earnings estimates. Conagra tumbled after net declined. Herman Miller reported higher-than-expected results. Walgreens reported strong results.

[R]12:05 PM New York City, New York – Accenture declined despite outsourcing services provider lifted fiscal outlook. BlackBerry net swung to profit. Carnival beats earnings estimates. Conagra tumbled after net declined. Herman Miller reported higher-than-expected results. Walgreens reported strong results.[/R]

Tollbooth Index declined 540.37 or 3.8% to 13,883.32 but for the year-to-date rose 0.9%.

Earnings Review

Actuant Corp ((ATU)) plunged 6.6% or $1.52 to $21.71 after the diversified industrial products provider said net sales in the first-quarter ending in November rose 1.2% from a year ago to $292.5 million.

Net in the quarter swung to a loss of $17.5 million or 29 cents per diluted share from profit of $5.2 million or 9 cents in the same quarter last year.

Actuant forecasted fiscal 2019 sales growth between 3% and 5% or $1.15 billion to $1.19 billion and diluted earnings per share growth in the range of $1.09 and $1.20.

Accenture Plc ((ACN)) declined 4.1% or $6.21 to $144.80 after the Ireland-based professional consulting services provider said revenues in the first-quarter ending in November soared 7% from a year ago to $10.6 billion.

Net income in the quarter soared 8.3% to $1.3 billion or $1.96 per diluted share from $1.2 billion or $1.79 in the same quarter last year.

Accenture lifted fiscal 2019 revenue growth forecast in the range of 6% to 8% from the earlier estimate of 5% to 8% but diluted earnings per share between $7.01 and $7.25 from the earlier estimate of $6.98 to $7.25.

BlackBerry Limited ((BB)) soared 5.8% or 43 cents to $7.80 after Canada-based smart phones, tablets maker said revenues in the third-quarter ending in November flat from a year ago to $226 billion.

Net in the quarter swung to profit $59 million from a loss of $275 million and diluted loss of 1 cent from 52 cents in the same quarter last year.

Carnival Corp ((CCL)) plummeted 6.7% or $3.70 to $51.31 after the cruise line operator reported revenues in the fourth-quarter ending in November jumped 4.8% from a year ago to $4.4 billion.

Net income in the quarter soared 8.3% to $494 million or 71 cents per diluted share from $546 million or 76 cents in the same quarter last year.

The cruise line operator forecasted fiscal 2019 revenues growth of 5.5% and capacity growth of 4.6% and diluted earnings per share in the range of $4.50 to $4.80.

Conagra Brands Inc ((CAG)) tumbled 11.7% or $3.40 to $25.69 after the packaged foods maker revenues in the second-quarter ending on November 25 advanced 6% from a year ago to $4.2 billion.

Net income in the quarter declined 17.6% to $309.8 million or 76 cents per diluted share from $376 million or 91 cents in the same quarter last year.

Conagra forecasted fiscal 2019 total sales growth in the range of 22% to 23% and gross margin between 29.3% to 29.6% and diluted earnings per share growth in the range of $2.03 to $2.08.

Eli Lilly and Company ((LLY)) edged up 0.1 cent to $109.28 after the pharmaceutical products maker forecasted fiscal 2019 revenues in the range of $25.3 billion to $25.8 billion and diluted earnings per share growth in the range of $5.90 to $6.

Herman Miller Inc ((MLHR)) advanced 2.4% or 73 cents to $31 after the office furniture, equipment and home furnishings distributor said revenues in the second-quarter ending on December 1 soared 7.9% from a year ago to $652.6 million.

Net income in the quarter surged 17.3% to $39.3 million or 66 cents per diluted share from $33.5 million or 55 cents in the same quarter last year.

Scholastic Corporation ((SCHL)) plummeted 8.2% or $3.44 to $38.66 after the media and books publisher stated revenues in the second-quarter ending in November grew 1% from a year ago to $604.7 million.

Net income in the quarter jumped 25% to $71.6 million or $1.99 per diluted share from $57.1 million or $1.60 in the same quarter last year.

Scholastic reaffirmed fiscal 2019 revenues in the range of $1.6 billion to $1.7 billion and diluted earnings per share in the range of $1.60 to $1.70.

Walgreens Boots Alliance Inc ((WBA)) dropped 2.8% or $2.06 to $71.23 after the drug store services provider reported revenues in the first-quarter ending in November jumped 9.9% from a year ago to $33.8 billion.

Comparable retail sales in the quarter declined 3.2% but comparable pharmacy sales increased 2.8% and prescriptions filled in comparable stores increased 2%.

Net income in the quarter surged 33.9% to $1.1 billion or $1.18 per diluted share from $821 million or 81 cents in the same quarter last year.