Good morning from the business news desk of the Star Tribune.
We're in the heart of first-quarter earnings reporting now. Supervalu this morning reported adjusted earnings per share of 18 cents from continuing operations. That's above the 15 cents expected by analysts. Revenue of $3.95 billion was also above the forecast of $3.88 billion.
Polaris, the maker of snowmobiles and ATVs, had EPS of $1.19, above the forecast of $1.16. Revenue was $888.3 million, below the forecast of $893.2 million
And Entegris, the Chaska-based maker of equipment for the semiconductor industry, reported adjusted EPS of 12 cents a share, just below analysts' forecast of 13 cents. Revenue was $165.8 million, which was below the forecasted $171.8 million. The company also lowered its outlook for the second quarter, saying it now expects EPS of 10 cents to 14 cents and revenue of $165 million to $175 million. Analysts previously expected the company to earn 15 cents a share on revenue of $180 million in 2Q.
There are many companies reporting nationally today, including Apple, the most valuable U.S.-based company, after market close. Of note to Minnesotans, Delta Air Linesreported 1Q EPS of 33 cents, above the forecast of 29 cents. The company, which is the biggest operator of flights at Minneapolis-St. Paul International, saw a 4.9% jump in revenue due to higher traffic and yield and experienced a decline in fuel costs.
With about 30 minutes until the market opens, U.S. stock futures are marginally lower.Asian markets were mixed and European markets are mostly lower at the moment.