A customer holds a shopping basket inside a Grocery Outlet Holding Corp. store in San Francisco, California, U.S., on Thursday, June 20, 2019.
David Paul Morris | Bloomberg | Getty Images
Check out the companies making headlines after the bell:
Shares of DXC Technology plunged 17% during extended trading after the IT company reported second quarter earnings. DXC posted adjusted earnings of $1.38 per share, which represents a nearly 32% decrease from the same quarter a year ago. Revenue came in at $4.85 billion, a 3.2% decrease compared to the same period last year. DXC’s shares are down approximately 45% year to date.
Grocery Outlet shares spiked nearly 8% after the company raised its full year earnings, same store sales and adjusted EBITDA guidance. The supermarket company expects adjusted diluted earnings between 73 cents and 74 cents per share, up from its prior range of 68 cents to 71 cents per share. Grocery Outlet expects same store sales growth of approximately 4.9%, exceeding its prior range of 3% to 4%. The company expects adjusted EBITDA between $167 million and $168 million, also up from its prior range of $162 million to $165.5 million.
In its third quarter, the company posted a same store sales increase of 5.8% and a net sales increase of 13.1%, amounting to $652.5 million. Adjusted EBITDA came in at $44.2 million, representing a 13.2% increase compared to the same quarter a year ago.
Reata Pharmaceuticals shares tanked nearly 8% after the bell following the company’s announcement of promising test results of its drug treating patients with chronic kidney disease. Based on the positive results, Reata said it plans to go forward with seeking regulatory approval for marketing the drug both domestically and internationally. Reata’s shares are up approximately 280% year to date.