Pep Boys - Manny, Moe & Jack Message Board
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3Q Estimate was $0.15 per share?
Is this information correct? Because they just reported $-0.15... is this some typo?
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there was a one time charge of $11 million..if that is pulled out, the eps would of been a positive 6 cents! the selloff in after hours trading isa buying opportunity.
- 2 Replies to bluebloodedtrader
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I hope you are right
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Straight from the earnings report:
"Net loss for the third quarter of fiscal 2012 was $6.8 million ($0.13 per share) as compared to net earnings of $7.0 million ($0.13 per share) recorded in the same period last year. The 2012 results include, on a pre-tax basis, debt refinancing expense of $11.2 million and an asset impairment charge of $8.8 million. "
So there were two charges that the company took, neither of which analysts would have factored into to their EPS analysis....why the company was so short in the announcement with no guidance though is what I think has people exiting....seen it before and the next day stocks well into the green after the conference call...
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They said that they had two one time charges:
One for $11.2 Million and one for $8.8 Million or $20 Million total...if you back those two out they would have earned roughly .25 cents a share since every $6.8 Million equals .13 cents based on their report....not sure if that makes things any better or not....saw no guidance but I guess that will be on the CC tomorrow morning?- 1 Reply to privateertrader
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did include at least the debt refinancing charge in their estimates. So most likely they earned a meager $2 mln or about 4 cents in the quarter.
The asset impairment charge won't make things better in any way I guess. If analysts knew about this one, too, it's most likely build into their estimates which makes the miss even worse.
If they had no clue about it they will likely grill management about this unexpected and unexplained charge on the call tomorrow.
At first I was thinking like you and applauded the great profitability - but on second thought things look a bit different.
Either way tomorrow will be an ugly day for the stock most likely.
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