Earnings Roundup: CASY, PIKE, AHII
Tuesday, September 07, 2021 9:19 AM

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Casey's General Stores Inc. (NASDAQ: CASY) on Tuesday reported in-line earnings for the latest quarter, and said that it received a $1.5 billion takeover offer from a third party that exceeds a $38.50 per share offer from Alimentation Couche-Tard. Net income dropped to $37.29 million, or 73 cents per share, from $44.19 million, or 87 cents per share, in the year-earlier quarter. On an adjusted basis, the company earned 81 cents per share. Revenue rose to$1.36 billion from $1.19 billion in the same quarter last year. Analysts, on average, expected the company to report earnings of 81 cents per share on revenue of $1.36 billion. The company also announced that it has received a preliminary proposal from a strategic third party regarding a consensual transaction at $40 per share in cash, but found it substantially undervalues the company. Shares of the company surged more than 8% in pre-market trading. 

Pike Electric Corporation (NYSE: PIKE) reported Tuesday that it swung to a fiscal fourth-quarter loss of $4.02 million, or 12 cents per share, compared to a profit of $2.46 million, or 7 cents per share, in the year-ago quarter. Revenue declined to $120.73 million from $128.46 million. Analysts, on average, expected the company to break even per share on revenue of $131.89 million. 

Animal Health International, Inc. (NASDAQ: AHII) said that it swung to a fiscal fourth-quarter net income of $0.66 million, or 3 cents per share, compared to loss of $39.16 million, or $1.61 per share, in the prior-year quarter. Revenue grew 5.8% to $171.98 million from $162.52 million.

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

 

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