STZ Tops EPS and Revenue Estimates; RPM Beats on EPS

Two U.S.-listed companies with market values above $10 billion reported quarterly results on Tuesday, Oct. 6: STZ and RPM. Both posted earnings per share above the consensus estimate, while their revenue figures diverged from forecasts in opposite directions. The earnings calendar used for this note does not state whether the results were released before or after the trading session.

STZ, with a current market capitalization of about $23.47 billion, reported EPS of $3.74, compared with an estimate of $3.62. That is $0.12, or 3.31%, above consensus. Revenue was $2.63 billion against an expected $2.54 billion, exceeding the estimate by 3.52%.

RPM, valued at about $12.59 billion, reported EPS of $1.98, $0.03 or 1.54% above the $1.95 estimate. Revenue came in at $2,215.59 million, slightly below the $2,220.78 million estimate, a shortfall of $5.19 million, or 0.23%.

The reports arrived on a day when large-cap benchmarks rose. SPY gained 0.55% to 779.09 and DIA added 0.48%, while the small-cap IWM fell 0.72%. Among sector funds, Consumer Staples (XLP) rose 0.94% and Materials (XLB) gained 0.47%. Utilities (XLU) led all sectors with a 2.98% advance.

Neither STZ nor RPM appeared among the day's five largest large-cap gainers or losers. CSCO topped the gainers list with a 4.54% rise, and TMO led decliners with a 2.98% drop. In macro data, the August trade deficit came in at $105.6 billion, wider than the $102 billion estimate.

Data

Data: FMP. Figures are close-to-close unless stated.