Sporting goods company, Adidas AG (ADDYY - Free Report) came out with second-quarter 2016 results, wherein the company’s net income from continuing operations nearly doubled to €291 million ($328.6 million).
For 2016, management envisions net income to rise to €975 million - €1.0 billion.
Revenues: Adidas generated net sales of €4,422 million ($4,993.4 million) that advanced 13.2% year over year. The Zacks Consensus Estimate stood at $4,961 million. Group sales jumped 21% on a currency-neutral basis, backed by strong performances by adidas and Reebok.
Management anticipates currency-neutral Group sales to jump at a high-teens rate in 2016.
Zacks Rank: Currently, Adidas carries a Zacks Rank #1 (Strong Buy) which is subject to change following the just released earnings results.
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Sporting goods company, Adidas AG (ADDYY - Free Report) came out with second-quarter 2016 results, wherein the company’s net income from continuing operations nearly doubled to €291 million ($328.6 million).
For 2016, management envisions net income to rise to €975 million - €1.0 billion.
Revenues: Adidas generated net sales of €4,422 million ($4,993.4 million) that advanced 13.2% year over year. The Zacks Consensus Estimate stood at $4,961 million. Group sales jumped 21% on a currency-neutral basis, backed by strong performances by adidas and Reebok.
Management anticipates currency-neutral Group sales to jump at a high-teens rate in 2016.
Zacks Rank: Currently, Adidas carries a Zacks Rank #1 (Strong Buy) which is subject to change following the just released earnings results.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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