RAD Reaffirms FY11 Guidance
Rite Aid (RAD 1.09 +0.08) reported ($0.09) per share for its first quarter this morning, $0.05 better than the Thomson Reuters consensus of ($0.14).
Revenues fell 2.1% year-over-year to $6.39 billion versus the $6.4 billion consensus.
The company said, "Same store sales for the quarter decreased 1.0% over the prior year 13-week period, consisting of a 1.3% decrease in the front end and a 0.9 percent decrease in the pharmacy. Pharmacy sales included an approximate 138 basis point negative impact from new generic introductions."
For its fiscal year 2011, the company reaffirmed earnings guidance in the range of ($0.65) to (0.41) versus the ($0.52) Thomson Reuters consensus. The company reaffirmed revenues in the range of $25.2 billion to $25.6 billion, in-line with the $25.42 billion Thomson Reuters consensus; with comps -1 to +1%.
RHT Guides Q2 EPS In-line With Consensus
RedHat (RHT 31.43 +0.57) reported first quarter earnings of $0.18 per share after the close yesterday, excluding non-recurring items, in-line with the Thomson Reuters consensus of $0.18.
Revenues rose 19.9% year-over-year to $209.1 million, above the $202.9 million consensus. The company also reported adjusted operating margin +140 bps year-over-year to 24.8% versus guidance of 24.6%.
On its conference call after hours yesterday, the company provided second quarter earnings guidance of $0.18, in-line with the $0.18 consensus and guided revenues of $210 million to $212 million, above the $207.45 million.
For its fiscal year 2011, the company guides earnings in the range of $0.71 to $0.74 per share, in-line with the $0.74 consensus. On the top line, the company guided revenues to be in the range fo $835 million to $850 million.
KMX Tops Q1 Expectations
CarMax (KMX 21.81 +1.81) reported first quarter earnings this morning of $0.44 per share, which was $0.11 better than the Thomson Reuters consensus of $0.33.
Revenues rose 23.3% year-over-year to $2.26 billion, above the $2.09 billion consensus; comps +9%; used units +9%; wholesale units +52%.
Today's earnings follows news from yesterday after the close that S&P MidCap 400 constituent CarMax (KMX) will replace XTO Energy (XTO) in the S&P 500.
ADBE Sees Q3 In-line
Adobe (ADBE 31.36 -1.40) reported second quarter earnings of $0.44 per share after the close yesterday, $0.01 better than the Thomson Reuters consensus of $0.43.
Revenues rose 33.8% year-over-year to $943 million, well above the $905.9 million consensus.
For its third quarter, the company expects to see earnings of $0.46 to $0.50 per share, in-line with the $0.48 Thomson Reuters consensus. On the top line, the company expects revenues to fall in the range of $950 million to $1.0 billion, in-line with the $958.69 million Thomson Reuters consensus.
The company also announced its Board of Directors has granted authority for the Co to repurchase up to $1.6 billion in common stock through the end of fiscal 2012. This new program modifies the existing share-based program to offset dilution to a dollar-based authority.
JBL Issues Upside Q4 Guidance
Jabil Circuit (JBL 14.73 +1.14) reported third quarter earnings of $0.40 per share after the close yesterday, excluding non-recurring items, $0.07 better than the Thomson Reuters consensus of $0.33.
Revenues rose 32.2% year-over-year to $3.46 billion, above the $3.21 billion consensus.
For its fourth quarter, the company expects to see earnings of $0.45 to $0.50 per share, excluding non-recurring items, well above the $0.38 Thomson Reuters consensus. On the top line, the company sees revenues in the range of $3.8 billion to $4.0 billion, above the $3.37 billion Thomson Reuters consensus.
The company said, "Co also announced that it has entered into a letter of intent to divest its remaining manufacturing operations in France and Italy. Divested operations would include four sites and approximately 1,500 people... Co currently anticipates that the loss on divested operations to be approximately $0.05 per share."
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