Earnings Wrap: Kimberly Clark, Sprint, Rockwell Collins, More

Impressive Subscriber Growth Propels Sprint

The market is rewarding Sprint Corp (NYSE:S) this morning after it announced a surprisingly strong quarter and robust subscriber growth, pushing shares up by 18.72% this morning. For its first quarter of fiscal year 2016 ended June 30, Sprint pulled in net operating revenue of $8.01 billion, slightly topping estimates, while it added 173,000 postpaid wireless additions during the quarter, its highest quarterly total in nine years. Sprint also announced that it has enough money to carry it through the end of the year, alleviating some concerns that its financial position was tenuous following parent company Softbank’s $32 billion purchase of ARM Holdings plc (ADR) (NASDAQ:ARMH), which was announced earlier this month.

Sprint Corp (NYSE:S) was not overly loved by the hedge funds in our database as of March 31, with them owning just 1.30% of its float, valued at $182 million. 20 hedge funds were long the stock.

Trimmed Guidance Has Investors Wary of Rockwell

Rockwell Collins, Inc. (NYSE:COL) has dipped slightly in morning trading following its fiscal third quarter earnings release before the market opened. Sales rose by 3% to $1.33 billion during the fiscal quarter, while EPS jumped by 23% to $1.63. Commercial Systems sales slipped by 2% year-over-year to $367 million, while Government Systems sales rose by 10% to $376 million. The solid quarter was somewhat undone by trimmed guidance ranges, with revenue, EPS, and cash flow from operations guidance ranges all being narrowed to the lower-end of the previously disclosed ranges. Cash flow from continuing operations also plummeted to $223 million for the first nine months of the 2016 fiscal year, down from $341 million during the year-ago period.

Ken Griffin‘s Citadel Investment owned 561,051 shares of Rockwell Collins, Inc. (NYSE:COL) on March 31, down by 5% quarter-over-quarter.

Double Miss Spells Double Trouble for Shares of Roper Technologies

Lastly, shares of Roper Technologies Inc (NYSE:ROP) have plunged by over 6% today after its second quarter financial results missed estimates. GAAP revenue rose by 5% year-over-year to $932 million, but was well off the Zacks Consensus Estimate of $959 million. Adjusted earnings fell by 8% year-over-year to $1.56 and also missed the Zacks mark by $0.05. Sales were strong in the company’s Medical & Scientific Imaging and RF Technology segments, while they suffered year-over-year declines in its Industrial Technology and Energy Systems & Controls segments. Roper Technologies Inc (NYSE:ROP) anticipates investing over $1 billion in acquisition opportunities by the end of the year to help facilitate its growth.

25 hedge funds in our database were shareholders of Roper Technologies at the end of March, owning over $728 million worth of its shares in total.

Disclosure: None