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During 2Q16, $FLO's consolidated price/mix fell by 0.5% due to declining price/mix in the non-retail channel, partially offset by positive price/mix in branded retail. Adjusting for pension rederisking settlement in 2Q16 and the asset impairment last year, EPS rose 4% or $0.01 to $0.26. Adjusted EBITDA rose 5.2% to $118.7MM or 12.7% of sales.
Apple ($AAPL) reported decline in sales and profits from comparable quarter last year, attributing the decline to announcement of iPhone 7/7s. Sales and profit are being guided higher for next quarter. Apple is a solid company and will continue to dominate tech and consumer electronics segment for a while. Personally, looks like there is little downside in this investment.
Waiting with fingers crossed for $AAPL’s fourth quarter earnings.
Looking ahead to $AAPL earnings release later in the afternoon today? Gene Munster, analyst from Piper Jaffrey and the most respected authority for Apple, had this to say - "The second and slightly larger group of investors believe the tail of the iPhone 7 is irrelevant, and is betting that the iPhone 10th Anniversary will yield a jump in growth from flat to up ~15%."