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Key Morning Earnings for May 9: BID, LC, SSYS, TEVA, TSN

As Q1 earnings season continues, more and more companies are posting their earnings results. On Monday, five big names in the auction, finance, 3D printing, pharmaceuticals, and food industries reported their quarterly earnings before the bell. Let’s take a look.

Sotheby’s Holdings, Inc. BID

The luxury auction house reported disappointing first quarter results. Adjusted earnings per share came in at a loss of $-0.35 (excluding $0.06 from non-recurring items), missing the Zacks Consensus Estimate of a loss of $-0.22. Revenues of $106.5 million also missed our consensus estimate of 123.3 million. Sotheby’s cited a 35% decrease in net auction sales as one of the main reasons why the company’s top line fell as sharply as it did.  Auction agency commissions and fees also fell by 37%, which makes up roughly four-fifths of the company’s total revenue.

LendingClub Corp. LC

The San Francisco-based company reported first quarter earnings per share of $0.01, which was in line with the Zacks Consensus Estimate. Revenues came in at $152.3 million, surpassing our consensus estimate of $148.3 million and increasing 87% year-over-year. LendingClub also announced the resignation of its Chairman and CEO Renaud Laplanche after an internal review of sales of $22 million in near-prime loans to a single investor, which violates the investor’s express instructions as to a non-credit and non-pricing element.

Stratasys Ltd. SSYS

The 3D printing company reported better-than-expected first quarter results. Earnings per share came in at a loss of $-0.06 (excluding $0.38 from non-recurring items), outpacing the Zacks Consensus Estimate of a loss of $-0.15 per share. Revenues of $167.9 million beat our consensus estimate of $164 but declined 3% year-over-year. Stratasys said it sold 5,125 3D printing and additive manufacturing systems during the quarter.

Teva Pharmaceuticals Industries Ltd. TEVA

A global pharmaceutical company based in Isael, Teva posted strong first quarter results. Earnings per share of $1.18 (excluding $0.56 from non-recurring items) beat the Zacks Consensus Estimate of $1.13. Revenues came in at $4.81 billion, also topping the consensus estimate of $4.75 billion. Currency fluctuations cut Q1 revenues by about $107 million, with generic revenues also declining during the quarter. However, Teva’s lead branded product, Copaxone, posted worldwide sales of $1 billion, up 9%.

Tyson Foods, Inc. TSN

The world’s largest chicken producer reported earnings per share of $1.07 (excluding $0.03 from non-recurring items), beating the Zacks Consensus Estimate of $0.96 per share by 11.45%. Revenues came in at $9.17 billion, inching past our consensus estimate of $9.157 billion but falling 8.1% year-over-year. Tyson's adjusted operating income increased 27.3% to $704 million due to lower feed costs. Its chicken segment decreased 3.25% year-over-year to 2.73 billion, as a 1.7% increase in sales volume was offset by a 4.9% reduction in average price.

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LENDINGCLUB CP (LC): Free Stock Analysis Report
 
TYSON FOODS A (TSN): Free Stock Analysis Report
 
STRATASYS LTD (SSYS): Free Stock Analysis Report
 
TEVA PHARM ADR (TEVA): Free Stock Analysis Report
 
SOTHEBYS (BID): Free Stock Analysis Report
 
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