Earnings

Hot Earning Reports: Newell Brands Inc (NWL), Mallinckrodt PLC (MNK), Tyson Foods Inc. (TSN)

Newell Brands Inc (NYSE:NWL) shares jumped more than 10 percent on Monday morning after the company posted better-than-expected earnings for the first quarter and also lifted its profit outlook for the full year.

NWL reported net income of $638.5 million, or $1.31 per share for the latest quarter, as compared to 15 cents a share, a year earlier. Excluding items, earnings were 34 cents a share. Analysts surveyed by FactSet were looking for adjusted earnings of 29 cent a share.

Revenue for the first quarter came in at $3.27 billion, higher than $1.31 billion in the same period last year, and also above consensus forecast of $3.21 billion.

Looking forward, Newell is now expecting adjusted earnings in a range of $3.00 a share to $3.20 a share for the full year, up from its previous forecast in between $2.95 a share and $3.15 a share.

Mallinckrodt PLC (NYSE:MNK) shares are trading higher this morning after the drug maker announced its earnings and revenue for the first quarter. MNK posted earnings of $3.85 a share, up from $1.06 a share in the year-ago quarter. On an adjusted basis, the company earned $1.68 a share that surpassed analysts’ forecast of $1.64 a share.

Revenue came in at $810.9 million, lower than $815.8 million last year, but above analysts’ average estimate of $784.8 million.

Tyson Foods Inc. (NYSE:TSN) shares plummeted nearly 6 percent on Monday morning after the company posted its earnings for the second quarter that fell short of consensus forecast. TSN posted earnings of 92 cents a share, versus $1.10 a share in the year-earlier quarter.

Adjusted earnings were $1.01 a share that missed analysts’ average estimate of $1.02 a share. The company posted revenue of $9.08 billion for the quarter, as compared to $9.17 billion in the same period last year, but above consensus forecast of $9.07 billion.

Leave a Reply

Your email address will not be published. Required fields are marked *