In Tuesday trading, Dynagas LNG Partners LP (DLNG, Financial) stock has declined by nearly 6% on the back of the company reporting its financial results for the second quarter of fiscal 2017. The company posted adjusted EPS of seven cents, which was 11 cents below analysts' expectations. Revenue of $31.98 million declined 25% from the prior-year quarter. Moreover, revenue came short of the consensus estimate by $2.75 million.
Voyage revenues were $32 million for the quarter, down 25% from $42.6 million in the comparable quarter of 2016. Operating expenses of $7.5 million increased 12.4% from $6.7 million in the comparable quarter of 2016. Moreover, adjusted EBITDA for the quarter declined 34.6% when compared to the year-ago quarter.
Looking at cash generation, Dynagas generated $8.2 million, 63.7% lower than the $22.6 million generated in the prior-year quarter. Regardless, the company announced a quarterly cash distribution of 42.25 cents per share several weeks ago.
Lululemon Athletica Inc. (LULU, Financial) stock remains stable on the back of the company reporting its financial results for the second quarter last week. The company posted EPS of 36 cents on revenue of $581.1 million, an increase of 12.9% from the prior-year quarter. The company beat profit estimates by one cent and revenue expectations by $13.31 million.
Total comparable sales increased 7% and comparable store sales increased 2%. Direct to consumer net revenue increased 29%. Gross profit reached $297.4 million, an increase of 17% from the comparable quarter of 2016, and adjusted gross profit of $299.7 million registered an increase of 18%. The gross margin was solid at 51.2%, an increase of 180 basis points year over year. The adjusted gross margin was 51.6%. The operating margin of 11.8% decreased 260 basis points from the second quarter of the prior year. The adjusted operating margin of 12.8% suffered a decrease of 160 basis points.
Guidance is solid for the third quarter. Lululemon now expects revenue ranging from $605 million to $615 million. Diluted EPS are expected to be between 33 cents and 35 cents. Excluding the impact of the ivivva restructuring, it should be in the range of 50 cents to 52 cents. For the full fiscal year, net revenue is expected to range between $2.545 billion and $2.595 billion. Diluted EPS are projected to range from $2.04 to $2.11. Excluding the impact of the ivivva restructuring, adjusted diluted EPS is expected to range from $2.35 to $2.42.
Disclosure: The author holds no positions in any stocks mentioned.
