Kraft Heinz (NASDAQ: KHC) saw its revenue and net income rise 165% and 225% respectively, for Q1 2016. Diluted EPS also rose 204% to $0.73 from $0.24 YoY. The revenue increase was due to the merger of Kraft Foods into a wholly owned subsidiary of H.J. Heinz Holding Corporation last year. Integration and restructuring expenses rose as the company reorganizes and integrates Kraft.
CVS Health (NYSE: CVS) recorded an 18.9% increase in revenue and a 6.1% drop in net income for Q1 2016 YoY. Diluted EPS also fell 2.8% to $1.04 from $1.07 YoY. The revenue growth was driven by higher pharmacy network claims, Omnicare acquisition, and the addition of Target clinics. On the flip side, the integration of Omnicare and Target clinics increased operating expenses thus dragging down net income.
AIG (NYSE: AIG) announced a 26.3% decline in revenue and a $183 million net loss for Q1 2016 YoY. Consequently, diluted losses per share were $0.16 from earning per share of $1.78 the same quarter the previous year. Declines in premiums written and net investment income drove the revenue drop.
Sysco (NYSE: SYY) posted a revenue increase of 2.2% and a net income rise of 22.7% for Q3 2016 YoY. Diluted EPS grew 26.7% to $0.38 from $0.30 the same quarter the past year. Higher consumer spending, favorable weather conditions and lower fuel prices drove the revenue growth while lower debt levels lifted the bottom line.
|