Movers: 1800 Flowers, Advanced Drainage, Becton Dickinson, Estee Lauder, Humana, Meta, Scotts Miracle, Vista Outdoor

Scott Peters
02 Feb, 2023
New York City

1-800-Flowers.com Inc jumped 15% after the online gifts company reported better-than-expected quarterly results. 

1-800-Flowers.com said revenue in the December quarter fell 4.8% to $897.9 million and net income declined to $82.5 million from $88.5 million and diluted EPS fell to $1.27 from $1.34 a year ago.

The company said its quarterly results benefitted from the strength in its gourmet foods and gift baskets business with improving gross margins, as well as an enterprise-wide reduction in operating expenses. 

Advanced Drainage Systems Inc plunged 12% to $91.54 after the maker of PVC pipes reported a decline in sales and earnings and lowered its fiscal year outlook. 

Advanced Drainage said revenue in the December quarter decreased 8.4% to $655.2 million and net income fell 12% to $83.2 million and diluted EPS declined to 99 cents from 86 cents a year ago.

The company said price increase to cover higher material costs improved its operating margin but the weakness in residential construction in December negatively impacted its filtration and overall business.   

Net sales are now expected to be in the range of $2.975 billion to $3.050 billion, lower than the previous estimated range between $3.1 billion and $3.2 billion. 

Adjusted EBITDA is now expected to be in the range of $850 to $890 million, lower than the previous estimate of $900 million to $940 million. 

Becton, Dickinson & Company declined 1.7% after the medical products maker reported a decline in sales and earnings. 

Becton Dickinson said revenue in the December quarter fell 2.8% to $4.6 billion and net income fell 26% to $486 million from $655 million and diluted EPS fell to $1.70 from $1.90 a year ago.

U.S. sales rose 1% to $27 billion but the stronger dollar impacted international sales and declined 7.9% to $1.85 billion. 

Estee Lauder Companies Inc declined 1% to $276.96 after the cosmetic company said travel restrictions in Asia and mainland China impacted its business. 

Estee Lauder said the fourth quarter revenue declined 17% to $4.6 billion and net income fell 64% to $397 million and diluted EPS declined to $1.09 from $2.97 a year ago.

The company guided full-year fiscal 2023 sales to decline between 5% and 7% and GAAP diluted earnings per share between $4.25 and $4.44. 

Humana Inc fell 3.9% to $492.50 after the health insurance company reported higher quarterly loss.  

Humana said the fourth quarter revenue increased 6.6% to $22.4 billion and net loss rose to $18 million from $13 million and diluted loss per share increased to 12 cents from 11 cents a year ago.

The company reaffirmed 2023 individual Medicare Advantage membership growth of at least 13.7% or 625,000 and GAAP diluted earnings per share of $27.57. 

The company said it repurchased $4.3 billion of its stock at an average price of $464.71 a share and about $1.0 billion is still available for stock buy back as of end of January 2023. 

Meta Platforms, Inc soared 18.8% to $181.86 after the social media sites operator reported higher-than-expected quarterly results. 

Advertising impressions delivered across all sites increased 23% and the average price per ad decreased 22% from the previous year. 

For  the full-year 2022, ad impressions increased 18% and the average price per advertising impression fell 16% from the previous year.  

Meta Platforms said revenue in the December quarter declined 4% to $32.2 billion and net income fell 55% to $4.6 billion from $10.3 billion and diluted EPS dropped to $1.76 from $3.67 a year ago.

The company estimated first quarter 2023 revenue in the range of $26 billion and $28.5 billion and revised lower its full-year 2023 expenses estimate to between $89 billion and $95 billion from $94 billion to $100 billion. 

The company announced a $40 billion stock repurchase plan after completing a $28 billion stock buy back plan in 2022. 

The Scotts Miracle-Gro Company increased 1.5% to $81.76 after the company reported wider loss but lower than expected by investors. 

Scotts Miracle-Gro said revenue in the December quarter fell 7% to $527 million and net loss rose 30% to $64.7 million from $50 million and diluted loss per share rose to $1.17 from 90 cents a year ago.

Vista Outdoor Inc declined 6.2% to $28.01 after the company appointed a board member as its chief executive officer. 

Vista Outdoor said revenue in the December quarter declined 5% to $754 million and net income fell to $65.2 million from $118.1 million and diluted EPS dropped to $1.13 from $2.0 a year ago.

Gary McArthur, a member of the company's board of directors, was appointed as interim Chief Executive Officer replacing Chris Metz and the company said because of its board's "loss of confidence in his leadership for reasons not involving financial reporting or internal controls."

The company is still on track to separate its outdoor and sporting products segments.