After Wednesday’s closing bell, some big name, dividend paying companies released their quarterly earning reports. Below, we highlight the reports’ most important information for dividend investors.
Paychex Beats Earnings Estimates on Increased Revenue
Paychex (PAYX) reported Q2 revenue of $610.5 million, a 7% increase from last year’s Q2 revenue of $569.4 million. The company’s net income came in at $158.7 million for the quarter, which was up 7% from last year’s Q2 net income of $147.9 million. Diluted earnings per share came in at 43 cents, up 5% from last year’s Q2 diluted EPS of 41 cents. PAYX beat analysts’ estimates of 42 cents EPS on revenues of $598.98 million.
Steelcase Beats on Revenues, Misses on EPS
Steelcase Inc. (SCS) reported Q3 consolidated revenue of $784.8 million, which is up 7.9% from last year’s Q3 revenue of $727.2 million. SCS’s revenue for the quarter came in above analysts’ estimate of $781.27 million. The company’s operating income was just above last year’s Q3 figure of $38.4 million, coming in at $39.3 million. The company reported net income of $23 million, which is slightly below last year’s $23.6 million. The company reported EPS of 18 cents, including a 1 cent restructuring charge, while analysts were expecting 26 cents EPS for the quarter. Looking ahead, SCS believes that its Q4 EPS will be in the range of 22 cents to 25 cents, which is in-line with analysts’ views.
Herman Miller Beats on Earnings; Gives Q3 Guidance
Herman Miller (MLHR) announced Q2 sales of $470.5 million, a 6.5% increase from last year’s Q2 sales figure of $441.8 million. On an unadjusted basis, the company’s earnings for the quarter came in at an $80.6 million loss, 0r -$1.37 per share; however, when adjusted, EPS came in at 42 cents. The company was able to beat analysts’ estimates of 40 cents EPS on revenues of $466.97 million. Looking ahead to next quarter, Herman Miller sees EPS in the range of 30 cents to 36 cents, which is below the analyst consensus of 39 cents.
Apogee Misses Q3 Estimates
Apogee Enterprises (APOG) reported Q3 revenue of $199.43 million, up 5% from last year’s Q3 revenue of $190.416 million. The company’s net earnings increased 20% to $9.7 million from $8.05 million in last year’s Q3. On a per share basis, Apogee reported earnings of 33 cents, up 18% from last year’s EPS figure of 28 cents. APOG missed estimates of 35 cents EPS on revenues of $202.59 million.