Kellogg (K) announced its results for fiscal 2Q17 on August 3, 2017. Net sales for the quarter fell 2.5% YoY (year-over-year) to $3.19 billion. Its net sales were slightly higher than consensus estimates of $3.16 billion. EPS (earnings per share) of $0.97 in 2Q17 was 5.4% higher than analysts’ estimates and 6.6% higher YoY. The stock rose ~3% for the week ending August 4.
On August 2, Costco Wholesale (COST) reported its July sales results. For the four weeks ending July 30, 2017, the company reported net sales of $9.41 billion, which implies an increase of 8.8% from $8.65 billion in 2Q16. Overall, the company’s comparable sales rose 6.2%. In the US, Costco’s comparable sales rose 6.0%, while its sales rose 7.2% in Canada and 6.3% in other international locations. The stock rose due to the sales results and gained 2.3% last week.
On August 1, 2017, Archer Daniels Midland (ADM) announced its fiscal 2Q17 results. The company’s bottom line soared with a 39.0% YoY increase in its EPS to $0.57. It surpassed consensus estimates of $0.52. The company managed to achieve higher earnings by delivering on its strategic plan and utilizing the improving conditions in some of the markets. Its top line fell 4.4% to $14.9 billion—compared to 2Q16. It also missed estimates of $16.1 billion. Archer Daniels Midland stock rose 1.9% last week.
On August 2, Molson Coors Brewing Company (TAP) reported its fiscal 2Q17 results. Its net sales were $3.09 billion—down 0.6% compared to the same period last year and 0.38% below estimates. Earnings were ~$1.66 per share—3.1% higher YoY and 22.1% below analysts’ estimates. The stock rose 1.6% last week.
On August 1, Royal Caribbean Cruises (RCL) reported its fiscal 2Q17 results. Its net sales for the quarter rose 4.2% YoY to $2.2 billion and were in line with estimates. Its EPS of $1.71 in 2Q17 was 2.4% higher than analysts’ estimates and 56.8% higher YoY. Last week, the stock rose 5.6% in reaction to its 2Q17 results. So far, the stock has risen 45.9% YTD.
Hanesbrands (HBI) announced its fiscal 2Q17 results on August 1 after the market closed. The company reported $1.6 billion in revenues—an increase of 12.0% YoY driven by a contribution from acquisitions. The company’s EPS was ~4.0% higher YoY to $0.53 in fiscal 2Q17. Its revenue and earnings were in line with consensus estimates. The upbeat 2Q17 results drove the stock higher. Hanesbrands stock rose 4.4% last week and 12.6% YTD.