Established 1999
     
8,000 companies from USA and India.  
   
Search over 25,500 news articles and 8,000 companies earnings    
 
Earnings Analysis: 
CVS Health Net Surges; CBS, Dean Foods Net Tumbles
Author: Mukesh Buch
123jump.com
Last Update: 12:21 PM ET August 08 2017



Email article | Print article

 
12:00 PM New York CBS second-quarter net tumbled 86% to $58 million. CVS Health second-quarter net soared 19% to $1.1 billion. Gartner second-quarter net swung to a loss of $92 million. Icahn Enterprises second-quarter net swung to profit $1.6 billion. Michael Kors first-quarter net plunged 15% to $126 million.

Tollbooth Index slid 8.62 to 12,456.32.

Earnings Review

CBS Corporation (CBS), the broadcasting services provider said revenues in the second-quarter ending in June jumped 9% from a year ago to $3.3 billion.

Net income in the quarter tumbled 86.3% to $58 million or 14 cents per diluted share from $423 million or 93 cents in the same quarter last year.

CBS said advertising and content licensing and distribution revenue increased and entertainment revenues surged 12% to $2.18 billion.

CVS Health Corporation (CVS), the drug store retailer reported revenues in the second-quarter ending in June increased 4.5% from a year ago to $45.7 billion.

Pharmacy same store sales decreased 2.8% and same store prescription volumes in the period remained flat and front store same store sales declined 2.1% and were negatively impacted by softer customer traffic.

Net income in the quarter soared 19% to $1.1 billion or $1.07 per diluted share from $924 million or 86 cents in the same quarter last year.

In the third-quarter, CVS estimated diluted earnings per share in the range of $1.20 to $1.23.

The drugs retailer lowered full year diluted earnings per share forecast to between $4.92 and $5.02 from the earlier estimate of $5.02 to $5.18 and cash flow of $6 billion to $6.4 billion.

Envision Healthcare Corp (AMSG), the healthcare services provider reached a deal to sell its medical transportation unit American Medical Response for about $2.4 billion in cash to buyout firm KKR & Co''s portfolio company, Air Medical Group Holdings.

The transaction is expected to close in the fourth-quarter of this year.

Dean Foods Co (DF), the food and beverage provider stated revenues in the second-quarter ending in June rose 4.3% from a year ago to $1.9 billion.

Net income in the quarter declined 47.3% to $17.6 million or 19 cents per diluted share from $33.4 million or 36 cents in the same quarter last year.

Gartner Inc (IT), the research and advisory information technology provider said total revenues in the second-quarter ending in June surged 38% from a year ago to $843.7 million.

Net in the quarter swung to a loss of $92.3 million or $1.03 per diluted share from profit of $51.6 million or 62 cents in the same quarter last year.

Gartner forecasted fiscal 2017 total revenues between $3.23 billion and $3.32 billion and diluted earnings per share in the range of $1 to 71 cents.

Icahn Enterprises LP (IEP), the property developer stated revenues in the second-quarter ending in June soared 52.3% from a year ago to $6.7 billion.

Net in the quarter swung to profit $1.6 billion or $9.51 per diluted share from a loss of $69 million or 50 cents in the same quarter last year.

Michael Kors Holdings Ltd (KORS), the U.K.-focused branded apparel and accessories retailer said total revenues in the first-quarter ending in June dropped 3.6% from a year ago to $952.4 million.

Comparable sales in the quarter declined 5.9%.

Net income in the quarter plunged 14.7% to $125.5 million or 80 cents per diluted share from $147.1 million or 83 cents in the same quarter last year.

Retail net sales in the quarter jumped 10.1% to $619.9 million was driven by opening of 67 new stores worldwide as well as a 60 percent surge in sales in Asia and the acquisition of the Greater China license.

The retailer forecasted fiscal second-quarter total revenue between $1.04 billion and $1.06 billion and comparable sales decrease in the mid-single digits range and diluted earnings per share in the range of 80 cents to 84 cents.

Ralph Lauren Corporation (RL), the lifestyle products designer reported revenues in the first-quarter ending in June declined 13% from a year ago to $1.3 billion.

Net in the quarter swung to profit $59.5 million or 72 cents per diluted share from a loss of $22.3 million or 27 cents in the same quarter last year.
  1 More: Earnings Archive

 


 
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites.
Market data: BATS Exchange. Inc.

350 Fund Managers Interviews - 10-year Annual earnings on 4,600 U.S. companies - 20-quarter Earnings on 3,800 U.S. companies - 3,200 U.S. IPO Prospectuses
- 2,100 Economic data releases from U.S., EU, UK, India, HK and Australia. 10-year Annual reports on 3,500 U.S. companies -
U.S. Earnings Calendar with 4,800 companies - 90,000 10-K reports - 26,000 Global markets news archive - 2,200 Earnings Conference Call Summaries

Other Sites:
1999-2017 123jump.com. All rights reserved