Earnings Roundup: BBBY, RHT, IHS
Wednesday, September 22, 2021 6:07 PM

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Bed Bath & Beyond, Inc. (NASDAQ: BBBY) reported late Wednesday that its second-quarter net income climbed 34%, topping Wall Street's expectations, as the company benefited from improved consumer spending. Net income rose to $181.6 million, or 70 cents a share, from $135.5 million, or 52 cents a share, in the prior-year quarter. Revenue grew to $2.14 billion from $1.91 billion in the same quarter last year. Analysts, on average, expected the company to report earnings of 63 cents per share on revenue of $2.10 billion. Looking ahead to full-year 2010, the company now expects net earnings per share to increase by about 20%, which implies earnings of $2.76 per share. Previously, the company anticipated earnings to grow by about 15%. Analysts currently expect earnings of $2.71 per share for the year 2010. Shares of the company rallied more than 4% in after-hours trading.

Red Hat, Inc. (NYSE: RHT) reported Wednesday that its fiscal second-quarter net income dropped to $23.7 million, or 12 cents a share, from $28.9 million, or 15 cents a share, in the year-earlier quarter. On an adjusted basis, the company earned 19 cents per share in the latest quarter.  Revenue rose 20% to $219.8 million from $183.63 million. Analysts, on average, expected the company to report earnings of 14 cents per share on revenue of $211.49 million. Red Hat shares jumped more than 4% in extended trading.

IHS Inc. (NYSE: IHS) said that its third-quarter net income slipped to $34.56 million, or 53 cents per share, from $34.71 million, or 54 cents per share, in the year-ago quarter. On an adjusted basis, the company earned 76 cents per share in the latest quarter. Revenue climbed 14% to $272.06 million. Analysts, on average, expected the company to report earnings of 53 cents per share on revenue of $265.52 million. Looking ahead to full year 2010, the company now expects adjusted earnings of $2.93 per share and all-in revenue in a range of $1.06 billion to $1.07 billion. Previously, the company anticipated earnings of $2.90 per share and all-in revenue of $1.04 billion to $1.08 billion. Analysts currently expect the company to earn $2.10 on revenues of $1.06 billion for the year.

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

 

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Market news:

  • Texan imprisoned for child sex assault exonerated Sep 27, 2021 11:32 PM

    • DALLAS - A judge on Monday overturned the 1993 conviction of a deaf man who was sent to prison for raping a 5-year-old girl despite an absence of physical evidence linking him to the attack.
    • A Dallas County sheriff's deputy cut short Brodie's impromptu news conference after the hearing, saying he couldn't permit such a perk for an inmate.
    • Richardson police said Monday that Brodie initially declined their offer of an interpreter.
      • Downtown Los Angeles bakes at record 113 degrees Sep 27, 2021 11:32 PM

        • LOS ANGELES - Thousands of heat-related power outages are being reported in Southern California, where temperatures are soaring in a blistering fall heat wave.
        • Some of the cities affected include Santa Monica, Compton, Whittier and West Hollywood in Los Angeles County and Santa Ana, Fullerton and Huntington Beach in Orange County.
        • Los Angeles Department of Water and Power spokeswoman Gale Harris says about 5,400 of that agency's customers are without power.
          • Georgia executes inmate who had attempted suicide Sep 27, 2021 10:53 PM

            • - A Georgia prisoner who tried to kill himself last week by slashing his arms and throat with a razor blade was executed Monday night amid heightened security for the 1998 murders of a trucking company owner and his two children.
            • He was convicted in 2000 of the killings of Steven Moss, 37, his 11-year-old son Bryan and 15-year-old daughter Kristin during a burglary of their Jones County home in central Georgia.
            • His coconspirator, Daniel Lucas, was also sentenced to death in a separate trial and remains on death row.
              • Geortgia executes inmate who had attempted suicide Sep 27, 2021 10:47 PM

                • - A Georgia death row inmate who tried to kill himself last week by slashing his arms and throat with a razor blade was executed Monday night amid heightened security for the 1998 murders of a trucking company owner and his two children.
                • He was convicted in 2000 of the killings of Steven Moss, 37, his 11-year-old son Bryan and 15-year-old daughter Kristin during a burglary of their Jones County home in central Georgia.
                • His coconspirator, Daniel Lucas, was also sentenced to death in a separate trial and remains on death row.
                  • Some US executions held up by shortage of drug Sep 27, 2021 10:43 PM

                    • COLUMBUS, Ohio - Some executions in the U.S. have been put on hold because of a shortage of one of the drugs used in lethal injections from coast to coast.
                    • The shortage delayed an Oklahoma execution last month and led Kentucky's governor to postpone the signing of death warrants for two inmates.
                    • The sole U.S. manufacturer, Hospira Inc. of Lake Forest, Ill., has blamed the shortage on unspecified problems with its raw-material suppliers and said new batches of sodium thiopental will not be available until January at the earliest.

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