Earnings Roundup: TGT, DE, BJ, STP, CHS, CTRN
Wednesday, August 18, 2021 9:49 AM

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Target Corp. (NYSE: TGT) reported Wednesday that its second-quarter net income climbed 14% as cost cutting helped offset softer-than-expected sales. Net income rose to $679 million, or 92 cents per share, from $594 million, or 79 cents per shares, in the year-ago quarter. Revenue increased to $15.532 billion from $15.067 billion in the same quarter last year. Analysts, on average, expected the company to report earnings of 92 cents per share on revenue of $15.62 billion. Looking ahead to the fourth quarter, the company expects to report net income of about $375 million. Analysts currently expect earnings of $388.9 million for the quarter.

Deere & Co. (NYSE: DE) said Wednesday that its fiscal third-quarter profit climbed to $617 million, or $1.44 a share, from $420 million, or 99 cents a share, in the prior-year quarter. Revenue grew 16% to $6.84 billion from $5.89 billion. Analysts, on average, expected the company to report earnings of $1.22 per share on revenue of $6.51 billion. Looking ahead to the fourth quarter, the company said that it expects to report net income of about $375 million. Analysts currently expect earnings $388.9 million for the quarter. 

BJ's Wholesale Club Inc. (NYSE: BJ) reported Wednesday that its second-quarter net income improved to $35.8 million, or 67 cents a share, from $35.1 million, or 64 cents a share, in the comparable period last year. Revenue improved 8.6% to $2.7 billion. The company also lowered its full-year earnings outlook. For the full year ending January 29, 2011, the company now expects to report net income in the range of $128.5 to $134.5 million, and earnings per share in the range of $2.40 to $2.50. Previous guidance, provided on May 19, 2010, was for net income in the range of $136.9 million to $141.9 million, and diluted earnings per share in the range of $2.58 to $2.68. The Company now expects to report an increase in net sales of 8.0% to 10.0% and an increase in comparable club sales of 4.0% to 6.0%, including a contribution from gasoline sales of 0.5% to 2.5%. Previous sales guidance, provided during the Company's first quarter conference call on May 19, 2010, was for an increase in net sales of 9.2% to 11.2%, and an increase in comparable club sales of 4.0% to 6.0%, including a positive contribution from gasoline sales of 0.5% to 2.5%. Analysts currently expect full-year earnings per share of $2.67.

Suntech Power Holdings Co. Ltd. (NYSE: STP) said Wednesday that it swung to a second-quarter net loss of $174.9 million, or 97 cents per ADS, from a profit of $9.97 million, or 6 cents per ADS, in the year-earlier quarter. The non-cash impairment charges and provisions related to thin film and Shunda had a negative impact of $1.00 per ADS in the second quarter of 2010. On an adjusted basis, the company earned 3 cents per share in the latest quarter. Revenue soared 94.8% to $625.1 million from $321.0 million. Analysts, on average, expected the company to report earnings of 9 cents per share on revenue of $600.81 million.

Chico's FAS Inc. (NYSE: CHS) reported Wednesday that its second-quarter net income surged to $30.45 million, or 17 cents per share, from $14.9 million, or 8 cents per share, the same quarter a year ago. Revenue grew increased 10.8% to $465.4 million from $419.9 million. Analysts, on average, expected the company to report earnings of 17 cents per share on revenue of $471.25 million. 

Citi Trends (NASDAQ: CTRN) on Wednesday posted a wider second-quarter loss of $567 thousand, or 4 cents per share, compared to a loss of $69 thousand, or breakeven per share, in the year-ago period. Revenue rose to $129.04 million from $111.61 million a year earlier. Analysts, on average, expected the company to report earnings of 7 cents per share on revenue of $137.28 million. Looking ahead, the company expects 2010 earnings to be in a range of $1.60 to $1.70 per share which includes an anticipated comparable store sales increase of flat to 2% in the last half of 2010. Analysts currently expect the company to report $1.84 per share for full year.

Disclosure: Author doesn't own any of the stocks discussed here.

 

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