J.M.Smucker, Hormel: Earnings Central
NEW YORK (
) --
J.M. Smucker (SJM) - Get Report and Hormel Foods (HRL) - Get Report are two of today's most notable earnings in this, TheStreet's rundown of the week's quarterly reports.
FRIDAY'S EARNINGS
J.M. Smucker (SJM) - Get ReportRaises Sales Target
Top Line:
First-quarter sales were flat at $1.05 billion.
Earnings:
Net income rose 5% to $102.9 million. Non- GAAP income was $1.04 per share, higher than consensus target of 96 cents.
Outlook:
The company raised its sales target to slightly above the 3% growth indicated previously and reiterated full-year earnings guidance of $4.50 to $4.60 per share.
Share Performance:
The stock is up 2.5% at $59.53 in Friday trading. See latest
here.
Hormel Foods (HRL) - Get ReportUps Guidance
Top Line:
Third-quarter sales grew 9.9% to $1.73 billion.
Earnings:
Net income rose 10.6% to $85.370 million or 63 cents per diluted share compared to $77.2 million or 57 cents a year earlier. Analysts predicted earnings at 60 cents.
Outlook:
The company raised its full-year guidance to $2.85 to $2.91 a share on an adjusted basis.
Share Performance:
The stock is flat at $43.35 in Friday trading. See latest
here.
THURSDAY'S EARNINGS
GAP (GPS) - Get ReportBeats
Top Line:
Gap's revenue rose to $3.32 billion from $3.24 billion, while same-store sales declined 4% at namesake stores, grew 3% at Banana Republic and were up 2% at Old Navy.
Earnings:
The specialty retailer earned $234 million, or 36 cents per share compared with $228 million, or 33 cents, for Gap in the year-ago period. Analysts were calling for a profit of 35 cents on revenue of $3.31 billion.
Outlook:
Gap reiterated its full-year outlook in the range of $1.77 to $1.82 a share, which would be a 12% to 15% increase from last year. Wall Street is looking for a profit of $1.79 a share.
Share Performance:
The stock is up 2.8% at $18.20 in premarket trading. See latest
here.
Aeropostale (ARO) Outlook Disappoints
Top Line:
Sales grew 9% to $494.7 million from $453 million.
Earnings:
The teen retailer earned $43.6 million, or 47 cents per share, compared with $38.6 million, or 38 cents a year ago. Analysts were expecting 46 cents a share.
Outlook:
Aeropostale expects third quarter earnings in the range of 61 to 63 cents per share, which includes a 4 cent charge related to the retirement of its former chief executive and chairman. Analysts were expecting 72 cents.
Share Performance:
The stock ended Thursday at $23.23. See latest
here.
Dell (DELL) - Get ReportBeats estimates
Top Line:
Sales grew 22% to $15.5 billion ahead of estimates.
Earnings:
Net income came in at $545 million, or 28 cents a share, up from $472 million, or 24 cents a share, in the year-ago period. Excluding items, Dell earned 32 cents per share, beating estimates by 2 cents.
Outlook:
The company reiterated its fiscal 2011 revenue forecast of 14% to 19% growth, and adjusted operating income growth of 18% to 23%.
Share Performance:
The stock is down nearly 2% in aftermarket trading. See our
live blog on the results here. See latest
here.
HP (HPQ) - Get ReportReports In-Line With Pre-Announcement
Top Line:
Sales rose to $30.7 billion from $27.5 billion a year earlier.
Earnings:
Net income rose 6.1% to $1.77 billion or 75 cents per share from $1.67 billion or 69 cents per share a year earlier. Excluding restructuring charges, earnings came in at $1.08 per share.
Outlook:
No outlook was provided.
Share Performance:
The stock is down nearly 0.8% in aftermarket trading. See our
live blog on the results here. See latest
here.
Staples (SPLS) Earnings Rise 40%
Top Line:
Revenue was nearly flat at $5.53 billion. That was shy of the $5.64 billion analysts predicted.
Earnings:
Net income rose 40% to $130 million, or 18 cents per share. Adjusted for items, earnings were 20 cents per share, in-line with estimates.
Outlook:
Staples sees third-quarter sales rising in the low single digits with adjusted earnings of 39 cents to 41 cents a share. Staples expects fiscal-year adjusted earnings of $1.25 to $1.29 a share.
Share Performance:
The stock is down 2% at $19.65 in premarket trading. See latest
here.
GameStop (GME) - Get Report Issues Disappointing Forecast
Top Line:
GameStop revenue increased 3% to $1.8 billion, in-line with expectations.
Earnings:
During the quarter, the video game retailer earned $40.3 million, or 26 cents a share, a 4% increase from $38.7 million, or 26 cents, last year, a penny shy of estimates.
Outlook:
GameStop is looking for third-quarter profit in the range of 35 cents to 38 cents a share, and full-year earnings between $2.58 and $2.68 a share. Analysts were predicting a profit of 39 cents and full-year earnings of $2.63 a share.
Share Performance:
The stock is plunging 8.5% at $19 in premarket trading. See latest
Sears (SHLD) Narrows Loss
Top Line:
Total revenue decreased to $10.5 billion for the quarter vs. $10.6 billion a year ago.
Earnings:
Net loss came in at $39 million, or 35 cents per share, versus a year-earlier loss of $94 million, or 19 cents. Adjusted for items, loss was 19 cents per share, beating analyst estimates by a penny.
Outlook:
No outlook was provided.
Share Performance:
The stock is flat in premarket trading. See
here.
WEDNESDAY'S EARNINGS
Target (TGT) - Get Report Meets Expectations
Top Line:
Second-quarter sales rose 3.1% to $15.53 billion.
Earnings:
Profit rose 14% to $679 million, or 92 cents per share, up from $594 million, or 79 cents, a year earlier. Results were in line with forecasts.
Outlook:
No outlook was provided.
Share Performance:
The stock is down 2.5% in premarket trading. See latest
here.
Deere (DE) - Get ReportEasily Beats
Top Line:
Revenue rose 16% to $6.84 billion on stronger sales in U.S. and Canada.
Earnings:
Profit rose to $617 million, or $1.44 per share, up 47% from $420 million, or 99 cents per share. Analysts were expecting $1.24 per share.
Outlook:
For the fourth quarter, Deere said it expects net income of about $375 million.
Share Performance:
The stock is down 0.6% in premarket trading. See latest
here.
BJ's Wholesale (BJ) - Get ReportMisses, Lowers Guidance
Top Line:
Revenue rose 8.6% to $2.7 billion on higher same-store sales of 4.4%.
Earnings:
Profit rose to $35.8 million, or 67 cents per share, from $35.1 million, or 64 cents per share, missing analyst estimates of 73 cents per share.
Outlook:
For the full year ending in January, BJ's lowered its expectations and now expects to report net income in the range of $128.5 million to $134.5 million, or $2.40 to $2.50 a share. Previous guidance, provided in May, called for net income of $136.9 million to $141.9 million, or $2.58 to $2.68 a share.
Share Performance:
The stock is down 4.7% in premarket trading. See latest
here.
TUESDAY'S EARNINGS
Wal-Mart (WMT) - Get Report Lifts Guidance
Top Line:
Second-quarter sales rose 2.8% to $103 billion, slightly below estimates of $105.4 billion.
Earnings:
Wal-Mart reported income from continuing operations attributable to Wal-Mart of $3.6 billion, or 97 cents per share, up from $3.5 billion, or 89 cents, last year. The consensus estimate was 96 cents a share.
Outlook:
Wal-Mart raised its full-year earnings guidance to $3.95 to $4.05 a share from $3.90 to $4 a share citing strength in its underlying operating performance for the first two quarters despite the challenges in the economy.
Share Performance:
The stock is up 0.9% in premarket trading. See latest
here.
Home Depot (HD) - Get Report Beats Estimates
Top Line:
Second-quarter sales rose 1.8% to $19.4 billion.
Earnings:
Earnings rose to $1.2 billion or 72 cents per share from $1.1 billion or 66 cents per share a year earlier. Analysts expected 71 cents.
Outlook:
Home Depot said it expects fiscal-year sales to rise 2.6% and earnings from continuing operations to rise by about 22.6% to $1.90 a share.
Share Performance:
The stock is up 2.3 % in premarket trading. See latest
here.
Abercrombie & Fitch (ANF) - Get Report Back in Black
Top Line:
Second-quarter sales jumped 17% to $745.8 million, better than expectations of $727.7 million.
Earnings:
Earnings rose to $19.5 billion, or 22 cents per share, from a loss of $26.7 billion, or 9 cents per share, a year earlier. Analysts expected 16 cents per share.
Outlook:
Abercrombie said it will shutter 60 stores.
Share Performance:
The stock is down 4.8% in premarket trading. See latest
here.
MONDAY'S EARNINGS
Lowe's (LOW) - Get Report Falls Short
Top Line:
Revenue grew 3.7% to $14.4 billion.
Earnings:
Profit rose 9.6% to $832 million, or 58 cents per share, missing analyst estimates by a penny.
Outlook:
Lowe's predicts fiscal year earnings of $1.38 to $1.45 per share, versus consensus estimates of $1.42 per share.
Share Performance:
The stock is up 2.9% in premarket trading. See latest
here.
JinkoSolar (JKS) - Get Report Beats Estimates
Top Line:
Revenue soared to RMB 900.6 million, or $132 million, 307% higher than the year-ago quarter.
Earnings:
Profit available to common shareholders came in at $24.3 million, or 35 cents per share, versus a loss of $31.8 million, or 63 cents per share. Fully diluted earnings per American depository share was $1.39, significantly beating estimates of 58 cents.
Outlook:
Total revenues for the third quarter are expected to be in the range of $145 million to $155 million. Full year 2010 revenues are to be in the range of $500 million to $525 million.
Share Performance:
The stock is up 5.4% in premarket trading. See latest
here.
Sysco (SYY) - Get Report Misses
Top Line:
Revenue rose 14% to $10.3 billion.
Earnings:
Profit rose 7% to $338 million, or 57 cents per share, from $315.3 million, or 53 cents, a year earlier. Analysts were expecting 58 cents.
Outlook:
No outlook was provided.
Share Performance:
The stock closed at $29.98 on Friday. See latest
here.
-- Reported by Shanthi Venkataraman in New York.
Follow TheStreet.com on
and become a fan on
Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.
