Lifeway’s most recent earnings release reflects the impact of rising Class II milk prices, which have been driven up by higher feed costs and smaller herds. The dairy and non-dairy product manufacturer reported $0.09 earnings per share in its second quarter, down 30.8% from $0.13 in the same period last year. Sales rose by 14.0% to $25.8 million from $22.7 million a year ago, but fell short of the Zacks Consensus Estimate of $28.0 million.
In the company’s August earnings call, CEO Julie Smolyansky noted that a 20% increase in the cost of milk during the quarter lowered the company’s gross margin — the remaining revenue after accounting for the costs associated with the sale of a product or service – from last year’s 37% to 33%.
2. Alico, Inc. (NASDAQ:ALCO) (ALCO, Earnings, Analysts, Financials): Operates as a land management company in central and southwest Florida.
Market cap at $315.17M, most recent closing price at $43.18.
Revenue grew by -12.8% during the most recent quarter ($35.23M vs. $40.4M y/y). Inventory grew by 5.17% during the same time period ($22.77M vs. $21.65M y/y). Inventory, as a percentage of current assets, increased from 41.32% to 58.09% during the most recent quarter (comparing 3 months ending 2013-06-30 to 3 months ending 2012-06-30).
Alico’s third quarter fiscal 2013 revenue of $35.2 million was 12.8% lower than the $40.4 million generated in the prior year; analysts had expected its revenue to fall to $32.5 million. The company reported earnings per share of $0.55, down 58% from $1.31 a year ago but trumping the average estimate of $0.47.
Lower citrus fruit sales contributed to the Alico’s diminished revenue in the most recent quarter. Its Ranch and Conservation segment’s revenue also fell, declining 43.0% year-over-year from $718,000 to $409,000. The company’s beef cattle production falls under the Ranch and Conservation segment, which recorded $2.1 million in revenue throughout the first three quarters of fiscal 2012 and only $1.3 million in the first three of fiscal 2013.
3. Leucadia National Corp. (NYSE:LUK) (LUK, Earnings, Analysts, Financials): Engages in manufacturing, telecommunications, land based contract oil and gas drilling, property management and services, gaming entertainment, real estate activities, medical product development, and winery operations in the United States.
Market cap at $10.03B, most recent closing price at $27.27.
Revenue grew by 66.93% during the most recent quarter ($2,914.74M vs. $1,746.04M y/y). Accounts receivable grew by 4665.6% during the same time period ($19,409.81M vs. $407.29M y/y). Receivables, as a percentage of current assets, increased from 31.68% to 51.2% during the most recent quarter (comparing 3 months ending 2013-06-30 to 3 months ending 2012-06-30).
Earnings per share rose to $0.14 during the second quarter of the year, up from -$0.80 a year ago but still missing the average analyst estimate of $0.55. Its Beef Processing Services segment generated approximately $1.9 billion in revenue, remaining virtually unchanged from the second quarter of 2012.
Leucadia’s beef segment is comprised of National Beef Packing Company, a beef processor that the holding company acquired at the end of 2011. National Beef Packing Company is one of the nation’s biggest meat processing companies. Revenue from the segment accounted for 71.0% of Leucadia’s second quarter revenue of $2.7 billion, which beat estimates and surpassed the $2.1 billion the company reported a year ago.
(List compiled by Mary-Lynn Cesar. Accounting data sourced from Google Finance. Quarterly sales data sourced from Zacks Investment Research. All other data sourced from Finviz.)
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