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Tower International, Inc. Message Board

  • traderight3 traderight3 Jul 22, 2013 11:47 AM Flag

    Secondary is not dilutive; News stories do not conflict; Expectations were beat

    The "secondary" offering is not new shares. These are existing shares currently held by Cerberus, which is choosing to sell now for its own unknowable reasons. The offering is NOT dilutive.

    Read the stories again. The conflict comes from one story (ON a WSJ site) stressing the earnings BEFORE excluding one-time items, which the analyst DID exclude in their estimates.

    Comparing Apples to apples, TOWR BEAT analyst earnings expectations by ~80%! Analysts expected ~$.60,TOWR delivered $1.03.

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    • I would like to see a link to that effect.

      Sentiment: Hold

      • 1 Reply to nbs415
      • From Seeking Alpha transcript:

        http://seekingalpha.com/article/1562642-tower-international-inc-towr-ceo-discusses-q2-2013-results-earnings-call-transcript?source=google_news

        "Thanks, Derek, and good afternoon. As you know, in addition to releasing our second quarter results today, we also announced the commencement of a proposed secondary public offering of shares owned by Cerberus. For the purpose of providing some clarity, that offering does not affect the company's balance sheet, earnings, number of shares outstanding, earnings per share or cash flow. This is a proposed transaction between Cerberus and potential investors.

        While the proposed offering does not affect the company's financial results, I believe it can be another positive step for Tower and its shareholders, including useful, additional trading liquidity. Please be aware, however, that, by rule, we are not allowed to address any questions about the secondary offering on this call, which will focus on our second quarter results and the updated 2013 financial outlook."

    • http://finance.yahoo.com/news/earnings-roundup-halliburton-tower-international-155319113.html

      • 2 Replies to shontals
      • From streetinsider site (not sure how you were able to post link, shontals- gotta hint?)

        "Tower International (NYSE: TOWR) reported Q2 EPS of $1.03, $0.43 better than the analyst estimate of $0.60. Revenue for the quarter came in at $556 million versus the consensus estimate of $552.19 million."

        Plus they raised guidance by 15%.....

      • http://www.streetinsider.com/Earnings/Tower+International+(TOWR)+Posts+Q2+adj.-EPS+of+$1.03/8518095.html

        "Tower International (NYSE: TOWR) reported Q2 EPS of $1.03, $0.43 better than the analyst estimate of $0.60. Revenue for the quarter came in at $556 million versus the consensus estimate of $552.19 million."

        Plus, they upped their guidance...

    • Most investors saw the other news stories which didnt explain that. You are correct though. Maybe management is waiting for the conference call later today to get the message out better.

 
TOWR
23.92+0.09(+0.38%)Aug 24 4:02 PMEDT