Plenty of companies missed their earnings forecasts, prompting most major indices to decline on a day that saw telecoms hammered, falling 2.3%. The S&P 500 Index, Dow Jones Industrial Average and Nasdaq Composite each fell 0.5%.
Wednesday yielded quarterly earnings results from Amgen, Inc. (NASDAQ:AMGN), Buffalo Wild Wings (NASDAQ:BWLD) and Las Vegas Sands Corp. (NYSE:LVS).
Here’s how they did:
Amgen, Inc. (AMGN)
Amgen unveiled its latest results on Wednesday.
The company reported that it earned $3.27 per share on an adjusted basis, topping the Wall Street consensus estimate of $3.11 per share. However, Amgen missed the mark in several categories.
The company’s spending on research and development declined, while cost of sales and selling, general and administrative expenses all took a hit during the company’s third quarter.
Revenue fell 1% to $5.77 billion for the period. A bright spot in the company’s underwhelming sales was Prolia, an osteoporosis medication that saw its sales up 22% at $464 million.
Hurricane Maria took a hit on the company’s operations in Puerto Rico, but Amgen was still able to increase its fiscal 2017 earnings guidance to $12.50 to $12.70 per share from $12.15 to $12.65 per share.
Analysts expect the company to earn $12.58 per share for the year, according to Thomson Reuters. Amgen expects its revenue to amount to $22.7 billion to $23 billion.
AMGN shares fell over 2% after hours.
Buffalo Wild Wings (BWLD)
Buffalo Wild Wings shares were booming on the company’s impressive quarter.
In its latest quarter, the restaurant chain posted revenue of $496.7 million, which was a 0.5% increase year-over-year. Earnings came in at $18.2 million, or $1.17 per share.
On an adjusted basis, Buffalo Wild Wings earned $1.36 per share, easily topping the Wall Street consensus estimate of 79 cents per share, according to Thomson Reuters.
“The recent Tuesday promotion shift from traditional to boneless wings at company-owned restaurants will continue to improve cost of sales while traditional wing prices remain elevated,” said CEO Sally Smith, who is stepping down as boss at the end of the year.
The company’s same-store sales at company-owned restaurants dipped 2.3% compared to the year-ago quarter. At franchise locations, this figure fell 3.4% for the period.
For its full-year earnings, Buffalo Wild Wings predicts it will rake in $4.30 to $4.60 per share, as well as $4.85 to $5.15 on an adjusted basis.
BWLD stock skyrockets 20.5% after the bell Wednesday.
Las Vegas Sands Corp. (LVS)
Las Vegas Sands impressed in its latest quarter.
For its third quarter of fiscal 2017, the company earned $570 million, or 72 cents per share, compared to earnings of $513 million, or 65 cents per share in the year-ago period.
Adjusted earnings fell to $607 million, or 77 cents per share, from 71 cents per share in the year-ago period. Analysts surveyed by Thomson Reuters projected Las Vegas Sands would earn 68 cents per share.
Revenue surged for Sands China by 12.2% to $1.93 billion for the quarter, topping the year-ago mark of $1.72 billion. Profit also rose 24.4% year-over-year to $403 million.
“We are pleased to have delivered strong financial results again this quarter, led by growth in both Macao and Singapore. Our convention-based Integrated Resort business model remains the key driver of our financial results,” said CEO Sheldon Adelson.
LVS shares gain 1.9% after hours.
As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.
