26 Jan Consumer Sector Update for 01/25/2018: MKC,WHR,F
Top Consumer Stocks
Consumer stocks were broadly mixed Thursday, with shares of consumer staples companies in the S&P 500 adding almost 0.4% in value while shares of consumer discretionary firms in the S&P 500 were dropping about 0.2%.
Among consumer stocks moving on news:
+ McCormick & Co ( MKC ) climbed to with $1 of its 52-week high on Thursday, advancing more than 5.5% to top out at $106.17 a share, after the spice and food additives company reported above-consensus Q4 net income and forecast FY18 earnings also exceeding Wall Street expectations. Excluding one-time items, the company earned $1.54 per share during the three months ended Nov. 30, improving on an adjusted $1.27 per share profit in the year-ago period and beating the Capital IQ consensus by $0.02 per share. Net sales rose 21.1% year over year to $1.49 billion, matching the $1.48 billion analyst mean. For FY18, McCormick is modeling non-GAAP net income in a range of $4.80 to $4.90 per share, topping the analyst consensus by at least $0.09 per hare. It also sees revenue rising 12% to 14% over prior-year levels, which includes a 1% favorable impact from currency rates. The Street is looking for a 12.1% increase in sales this year to around $5.41 billion.
In other sector news:
+ Whirlpool ( WHR ) was cleaning up in Thursday trading, with shares of the appliance manufacturer rising nearly 5% to a session high of $187.47 apiece, after reporting a 1% year-over-year sale increase to $5.7 billion, just shy of the $5.84 billion consensus. It also recorded a GAAP net loss of $3.69 per share, which includes a one-time, $420 million non-cash charge linked to tax changes. Forecasts were looking for a $2.69 per share GAAP loss. Ongoing EPS was $4.10 compared with $4.33 per share during the same quarter last year and topping estimates expecting $4.00 per share.
– Ford ( F ) was driving in the slow lane Thursday, dropping about 3.5% in recent trading, after Wednesday night reporting non-GAAP Q4 EPS of $0.39 compared with $0.30 per share during the year-ago period and matching the Capital IQ consenus. Net sales rose 7% to $41.3 billion, topping the $36.9 billion Street view. For 2018, the automaker is expecting adjusted earnings in a range of $1.45 to $1.70 per share, straddling the analyst mean looking for $1.63 per share.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.