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ovenerio
Omar Venerio
Articles (1384) 

3 Stocks Move Thursday

Financial results impact Herc Holdings, Perrigo and Roku

November 08, 2018 | About:

Shares of Herc Holdings Inc. (NYSE:HRI) rose more than 6% on Thursday after announcing third-quarter results. The company posted earnings of $1.60 per share on $516.2 million in revenue, an increase of 12.8% year over year. The company beat earnings estimates by 60 cents and revenue expectations by $17.47 million.

Equipment rental sales increased 8.7% from the prior-year quarter to $449 million. The increase was due to the growth of rental revenue from local accounts and ProSolutionsTM and ProContractor categories over the prior year.

Adjusted earnings before interest, taxes, depreciation and amortization grew 14% to $201.5 million.

Looking ahead, the company now expects $675 million to $685 million in adjusted EBITDA.

Shares of Perrigo Co. PLC (NYSE:PRGO) fell over 15% after the company posted third-quarter earnings of $1.09 per share on $1.13 billion in revenue, reflecting an 8.1% year-over-year decline. The pharmaceutical company beat earnings estimates by 5 cents, but fell $40 million short of revenue expectations.

By segment, CHC Americas saw flat net sales compared to last year and reported a gross profit margin of 31%CHC International net sales increased 1%. Growth was driven by net sales in the analgesic, anti-parasite and personal care categories, in addition to $19 million in new product sales.

The reported gross margin was 46.6%. The adjusted gross margin increased 120 basis points from the year-ago quarter to 52.6%

The company now expects adjusted diluted earnings in the range of to $4.45 to $4.65 per share.

Shares of Roku Inc. (NASDAQ:ROKU) fell more than 20% after reporting third-quarter results. The company registered a loss of 9 cents per share on $173.million in revenue, a 39% increase year over year. The company beat earnings estimates by 3 cents and topped revenue expectations by $2.96 million.

Disclosure: The author holds no positions in any stocks mentioned.

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About the author:

Omar Venerio
Omar Venerio is a capital markets, derivatives, corporate finance and financial management professor. He is passionate about the stock market and providing independent fundamental research and hedge fund and insider trading-focused investigation.

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