Earnings Roundup

Smithfield Foods Inc SFD reported a 7.6% rise in its fiscal first-quarter net income. Smithfield Foods' quarterly earnings climbed to $82.1 million, or $0.49 per share, from $76.3 million, or $0.46 per share, in the year-ago quarter. Its adjusted earnings came in at $0.69 per share. Smithfield Foods' revenue surged to $3.09 billion from $2.9 billion. However, analysts were expecting earnings of $0.68 per share on revenue of $3.14 billion. Descartes Systems Group Inc DSGX reported a 30% surge in its quarterly profit. Descartes Systems' second-quarter net income climbed to $2.6 million, or $0.04 per share, from $2 million, or $0.03 per share, in the year-ago period. Its revenue surged 14% to $28.8 million. Descartes Systems' services revenue jumped 12% to $26.7 million. Titan Machinery Inc TITN reported a strong rise in its fiscal second-quarter earnings and raised its full-year earnings forecast. Titan Machinery reported its quarterly profit at $6.29 million, or $0.30 per share, up from $2.71 million, or $0.15 per share, in the year-ago period. Its revenue surged 48% to $310.8 million. However, analysts were expecting earnings of $0.26 per share on revenue of $293 million. Titan Machinery lifted its full-year earnings outlook by $0.03 per share to a range of $1.56 to $1.66 per share. It also raised its revenue forecast by $20 million to a range of $1.33 billion to $1.405 billion. Wm. Morrison Supermarkets PLC MRWSY reported a 14% rise in its net profit for the six months ended July 31. Wm. Morrison's net profit for the period climbed to 326 million pounds ($520 million), from £286 million, in the year-earlier period. Turnover for the group surged 7.4% to £8.74 billion. Wm. Morrison's comparable sales, excluding value added taxes and fuel, climbed 2.2%. Redrow PLC RDWFF reported a rise in its earnings for the year to June 30. Redrow's pretax profit for the year to June 30 climbed to GBP25.3 million, from GBP0.7 million. Its operating profit jumped to GBP31.2 million from GBP12.7 million. Transat AT Inc TRZBF swung to a Q3 loss. Transat posted a quarterly loss of C$2.9 million, or 8 Canadian cents per share, versus a profit of C$20.9 million, or 55 Canadian cents per share, in the year-ago period. On an adjusted basis, Transat earned 7 Canadian cents per share, versus analysts' estimates of 47 Canadian cents per share. Transat's quarterly revenue climbed to C$937 million from C$867 million. However, analysts expected revenue of C$952 million.