6:35 am Newell Rubbermaid beats by $0.01, reports revs in-line; lowers FY15 EPS below consensus, revs mid point below consensus (NWL) : Reports Q4 (Dec) earnings of $0.49 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.48; revenues rose 4.1% year/year to $1.53 bln vs the $1.52 bln consensus.
•Co issues downside guidance for FY15, lowers EPS to $2.10-2.18 from $2.16-2.22 vs. $2.19 Capital IQ Consensus Estimate; FY15 revs of 3.5-4.5% (prior 3.5-4.0%) to ~$5.93-5.98 bln vs. $5.98 bln Capital IQ Consensus Estimate.
•Normalized gross margin was 37.7 percent, a 70 basis point improvement versus prior year, as benefits from productivity, pricing and favorable segment mix more than offset input cost inflation and the impact of negative foreign currency.
Newell Rubbermaid Announces Strong Fourth Quarter and Full Year Results
14 minutes ago
• 3.3% Core Sales Growth and Normalized EPS of $0.49
• 4.1% Net Sales Growth and Reported EPS of $0.19
• 2015 Guidance Revised to Reflect Improved Core Sales Outlook and Negative Impact of Foreign Currency
Fourth Quarter Executive Summary
• 3.3 percent core sales growth, excluding foreign currency and the impact of acquisitions; 4.1 percent net sales growth including a 400 basis point contribution from acquisitions
• Full year core sales growth of 3.0 percent; 2.1 percent full year net sales growth
• 37.7 percent normalized gross margin, a 70 basis point improvement compared to the prior year; 37.6 percent reported gross margin, a 60 basis point improvement compared to the prior year
• 13.4 percent normalized operating margin, a 120 basis point improvement compared to the prior year; 7.4 percent reported operating margin, a 330 basis point decline compared to prior year due to a $65.4 million non-cash pension settlement charge in 2014
• $0.49 normalized EPS compared to $0.46 in the prior year, a 6.5 percent increase despite significantly increased advertising investment; $0.19 reported EPS compared to $0.41
6:11 am Stanley Black & Decker beats by $0.05, reports revs in-line; guides FY15 EPS below consensus, including restructuring (SWK) : Reports Q4 (Dec) earnings of $1.56 per share, excluding non-recurring items, $0.05 better than the Capital IQ Consensus Estimate of $1.51; revenues rose 3.5% year/year to $2.98 bln vs the $2.96 bln consensus; primarily attributable to volume (+6%) and price (+1%), partially offset by currency (-4%).
Co issues downside guidance for FY15, sees GAAP EPS of $5.65-5.85 (including $0.25 restructuring charge) vs. $6.01 Capital IQ Consensus. Organic growth of ~3-4% (~+$0.45 - $0.55) Cost actions within Security and other businesses, pricing and commodity deflation (~+$0.50) Lower average share count due to repurchases of shares weighted to the second half of 2015 (~+$0.09 - $0.12) Foreign exchange headwinds of ~$140 million (~- $0.70 - $0.75).
The "Street" has LAD coming in at 1.26 for the quarter that should be reported on or about February 17, 2015! All post's welcome! The "Good Dr's In"!
Sentiment: Strong Buy
Tupperware Brands Reports Fourth Quarter Results; Declares Regular Quarterly Dividend
- Fourth quarter sales up 6% in local currency+, above guidance range, and down 5% in dollars versus last year.
- GAAP diluted E.P.S. $1.63 versus $1.74 prior year. Adjusted*, diluted E.P.S. $1.72, up 9% in local currency and 12 cents above high end of guidance range.
- Brazil annual sales exceed $200 million. China becomes ninth unit with over $100 million in annual sales.
- Board of Directors declares unchanged quarterly dividend of 68 cents per share.
Tupperware Brands Corporation
ORLANDO, Fla., Jan. 28, 2015 /PRNewswire/ -- (TUP) Tupperware Brands Corporation today announced fourth quarter 2014 operating results.
.Tupperware Brands Logo
Rick Goings, Chairman and CEO, commented, "Sales grew 6% this quarter in local currency with particularly robust growth in Argentina, Brazil, China and Indonesia, continuing positive momentum from the third quarter. Our emerging markets were up 10% in local currency and our established markets, while down 1% in local currency, showed sequential improvement of 3 percentage points from the third quarter. On top of good sales, I am proud of the way we were able to improve our value chain to close the quarter with $1.72 in earnings per share excluding items, higher than our guidance by 12 cents in spite of a 4 cent hit compared with our October guidance from foreign exchange headwinds."
Goings continued, "While there continue to be challenging external forces, this quarter's results demonstrated we can and will continue to navigate through the environments we find ourselves in, with our strong global management team using our growth levers: innovative and demonstrable premium products; an entertaining selling situation and direct-to-consumer fundamentals driven through the relationships of our 2.9 million sales force world-wide."
Yahoo Reports Fourth Quarter and Full Year 2014 Results
SUNNYVALE, Calif.--(BUSINESS WIRE)--
Yahoo! Inc. (YHOO) today reported results for the quarter and full year ended December 31, 2014.
"I’m pleased to report that our performance in Q4 and in 2014 continues to show stability in our core business," said Marissa Mayer, CEO of Yahoo. "Our mobile strategy and focus has transformed Yahoo and yielded significant results. In Q4, we saw $254 million in mobile revenue, up 23% quarter-over-quarter. Across all of 2014, we saw gross mobile revenue of $1.26 billion and GAAP mobile revenue of $768 million. Our investment businesses - mobile, video, native, and social - collectively delivered more than $1.1 billion in GAAP revenue, up 95% year-over-year. These growth drivers have really focused our investments and energy on the future of digital advertising."
Q4 2013 Q4 2014 Full Year 2013 Full Year 2014
GAAP revenue $1,266 million $1,253 million $4,680 million $4,618 million
Revenue ex-TAC $1,200 million $1,179 million $4,426 million $4,401 million
GAAP income from operations $174 million $32 million $590 million $143 million
Non-GAAP income from operations $330 million $256 million $935 million $755 million
Adjusted EBITDA $478 million $409 million $1,564 million $1,362 million
Net earnings $348 million $166 million $1,366 million $7,522 million
GAAP net earnings per diluted share $0.33 $0.17 $1.26 $7.45
Non-GAAP net earnings per diluted share $0.46 $0.30 $1.52 $1.57
• Yahoo closed the acquisition of BrightRoll, the leading programmatic video advertising platform in the U.S. Through the acquisition of BrightRoll, Yahoo is now the largest video advertising platform in the U.S.
4:37 pm Apple beats on the top & bottom line led by iPhones well ahead of estimates; tops Q1 gross margin guidance; guides Q2 revs in-line with estimates (AAPL) : Reports Q1 (Dec) earnings of $3.06 per share, $0.46 better than the Capital IQ Consensus Estimate of $2.60; revenues rose 29.5% year/year to $74.6 bln vs the $67.53 bln consensus with gross margins of 39.9% vs 38.4% est (Guidance of 37.5-38.5%)
•Co issues in-line guidance for Q2, sees Q2 revs of $52.0-55.0 bln vs. $53.75 bln Capital IQ Consensus Estimate; sees Q2 gross margins of 38.5-39.5% vs 38.7% ests.
•International sales accounted for 65% of the quarter's revenue.
•Q1 iPhones 74.5 mln vs 66.8 mln ests 51 mln last year
•Q1 iPads 21.4 mln vs 21.8 mln ests vs 26 mln last year.
•Q1 Macs 5.5 mln vs 5.5 mln ests vs 4.8 mln last year.
Possible AAPL suppliers that could see a reaction following earnings include: QCOM, SWKS, AVGO, INVN, NXPI, TXN, CRUS.
Sentiment: Strong Buy
The "Street" has Yahoo coming in at ..74 for the quarter that should be reported on or about January 27, 2015! All post's welcome! The "Good Dr's In"!
The "Street" has WETF coming in at .11 for the quarter that should be reported on or about February 06, 2015! All post's welcome! The "Good Dr's In"!
Sentiment: Strong Buy
#$%$ incorporated Issues Revenue and Earnings Guidance for Fiscal Year 2016
January 20, 2015 4:01 PM
FORT WORTH, Texas, Jan. 20, 2015 /PRNewswire/ -- #$%$ incorporated (#$%$), a global provider of galvanizing services, welding solutions, specialty electrical equipment and highly engineered services, today issued revenue and earnings guidance for fiscal year 2016. Fiscal year 2016 refers to the 12 month period beginning March 1, 2015 and ending on February 29, 2016.
Tom Ferguson, president and chief executive officer of #$%$, said, "Based upon the evaluation of information currently available to management, we are projecting our fiscal 2016 earnings to be within the range of $2.75 and $3.25 per diluted share, and revenues are estimated to be within the range of $875 to $925 million. Our fiscal year 2016 guidance reflects our estimates given the current market conditions, quarterly seasonality, and our plans for organic growth through product innovation, geographic expansion, and leveraging of our sales organization."
Mr. Ferguson continued, "During the course of the past year, we achieved a number of strategic initiatives, and made substantial progress in improving our operational efficiencies and expanding the global markets we serve - setting the stage for sustainable profitability. We look forward to achieving our 29th consecutive year of profitability, as we are firmly committed to focus on continuing to drive operational excellence, cost control, and strong cash flow."
Mr. Ferguson concluded, "Our next, regularly scheduled quarterly conference call will be in April 2015, where we will be reporting the operating results for our fourth quarter and 2015 fiscal year, and will further discuss our fiscal year 2016 guidance."
Sentiment: Strong Buy
Northern Trust Corporation Reports Fourth Quarter Net Income of $244.0 Million, Earnings Per Common Share of $0.98
Full Year Net Income of $811.8 Million, Earnings Per Common Share of $3.32
Northern Trust Corporation
Northern Trust Corporation today reported fourth quarter net income per diluted common share of $0.98, up from $0.70 in the fourth quarter of 2013 and $0.84 in the third quarter of 2014. Net income was $244.0 million, compared to $169.7 million in the prior year quarter and $204.5 million in the prior quarter. Return on average common equity was 11.5%, compared to 8.7% in the prior year quarter and 10.1% in the prior quarter.
The current quarter includes a $9.5 million income tax benefit related to Northern Trust’s decision to reinvest the pre-tax earnings of a foreign subsidiary indefinitely outside the U.S. Excluding the income tax benefit, net income per diluted common share, net income and return on average common equity in the current quarter were $0.94, $234.5 million and 11.0%. The prior year quarter included a $19.2 million pre-tax charge in connection with an agreement to resolve certain litigation. Excluding the legal settlement charge, net income per diluted common share, net income and return on average common equity in the prior year quarter were $0.75, $181.6 million, and 9.3%, respectively.
Net income per diluted common share for the full year was $3.32, compared to $2.99 in 2013. Net income for 2014 totaled $811.8 million, up $80.5 million, or 11%, from the prior year’s $731.3 million.
“Fourth quarter and full year results reflect a continued focus on serving the complex and evolving needs of our clients, while enhancing profitability and returns for our shareholders. Our return on equity improved to 10.0% in 2014 from 9.5% in 2013.
Jewett-Cameron Announces 1st Quarter Financial Results
Jewett-Cameron Trading Company Ltd.
NORTH PLAINS, Ore., Jan. 14, 2015 /PRNewswire/ -- Jewett-Cameron Trading Company Ltd. (JCTCF) today reported financial results for the first quarter of fiscal 2015 ended November 30, 2014.
Sales were $7.98 million for the first quarter of fiscal 2015 compared to sales of $8.01 for the first quarter of fiscal 2014. Income from operations for the quarter was $529,899 compared to $543,924 in the year-ago quarter. Net income was $327,787, or $0.12 per share, for the quarter compared to net income of $332,579, or $0.11 per share, for the first quarter of fiscal 2014. The net income per share was higher for the current quarter due to a lower weighted average number of common shares outstanding as a result of the Company's repurchase of common shares.
"Our markets remained competitive in the first quarter of fiscal 2015, and continued higher raw material prices continue to negatively pressure our profit margins," said CEO Don Boone. "However, the sales initiatives we initiated during fiscal 2014 have been successful in beginning to expand and diversify our customer base."
As of November 30, the Company's cash position was $1.984 million, and currently there is no borrowing against its $1.0 million line of credit. During the first quarter, the Company repurchased and cancelled a total of 118,969 common shares at an average price of $10.86 per share. The Company's most recent share repurchase plan expired on November 14, 2014. The Board of Directors will consider implementing new share repurchase plans in the future as an effective use of the Company's cash position.
About Jewett-Cameron Trading Company Ltd.
Jewett-Cameron Trading Company is a holding company that, through its subsidiaries, operates out of facilities located in North Plains, Oregon.
Sentiment: Strong Buy
WD-40 Company Reports First Quarter 2015 Financial Results
January 7, 2015 4:05 PM
SAN DIEGO, Jan. 7, 2015 /PRNewswire/ -- WD-40 Company (WDFC), a global marketing organization dedicated to creating positive lasting memories by developing and selling products that solve problems in workshops, factories and homes around the world, today reported financial results for its first fiscal quarter ended November 30, 2014.
Financial Highlights and Summary
•Total net sales for the first quarter were $96.4 million, an increase of 1 percent compared to the prior year fiscal quarter.
•Translation of the Company's foreign subsidiary results to U.S. dollars had a favorable impact on sales for the current quarter. On a constant currency basis total net sales were $95.8 million for the first quarter.
•Net income for the first quarter was $10.8 million, a decrease of 6 percent compared to the prior year fiscal quarter.
•Diluted earnings per share were $0.73 in the first quarter, compared to $0.74 per share for the prior year fiscal quarter.
•Gross margin was 51.6 percent in the first quarter compared to 52.0 percent in the prior year fiscal quarter.
•Selling, general and administrative expenses were up 3 percent in the first quarter to $27.4 million when compared to the prior year fiscal quarter.
•Advertising and sales promotion expenses were up 5 percent in the first quarter to $5.9 million compared to prior year fiscal quarter.
"During the quarter we experienced slow but steady growth of our multi-purpose maintenance products," said Garry Ridge, WD-40 Company's president and chief executive officer. "We did experience a decline in sales in our European markets and we've linked that decline to the unfavorable impact of foreign currency exchange rates, particularly the euro and U.S. dollar relative to the pound sterling, as well as the timing of customer orders within that region.
#$%$ incorporated Reports Financial Results for the Third Quarter of Fiscal Year 2015
Reports Third Quarter 2015 EPS of $0.77
Quarterly Sales of $224.8 million, up $27.1 million or 13.7% compared to Third Quarter Fiscal 2014
Backlog finished at $300.3 million, compared to $290.0 million for Third Quarter Fiscal 2014, an increase of 3.6%
Consolidated operating margin of 14.6% compared to 12.8% in Third Quarter Fiscal 2014
Company narrows FY 2015 EPS target range to $2.40 to $2.60 per share and lowers target revenue range of $825 million to $850 million on push-out of certain nuclear projects
FORT WORTH, Texas, Jan. 9, 2015 /PRNewswire/ -- #$%$ incorporated (#$%$), a global provider of galvanizing services, welding solutions, specialty electrical equipment and highly engineered services, today announced unaudited financial results for the three month and nine month period ended November 30, 2014. Revenues for the third quarter of fiscal year 2015 were $224.8 million compared to $197.8 million for the same quarter last year, an increase of 13.7 percent. Net income for the third quarter was $20.0 million, or $0.77 per diluted share, compared to net income of $18.4 million, or $0.72 per diluted share, for the same quarter last year.
Earnings during the quarter included a pretax benefit of $0.6 million, or $0.02 per diluted share relating to the net effect of insurance proceeds collected to cover costs related to a fire in #$%$'s Arizona galvanizing facility, driving adjusted earnings of $0.75 per share in Q3 FY15. During Q3 FY14 the company benefitted from one-time items netting to $4.6 million on a pretax basis driving adjusted earnings to $0.59 for the quarter. A reconciliation of reported GAAP earnings to adjusted earnings is included with the financial tables at the end of this release.
Sentiment: Strong Buy
6:08 am #$%$ beats by $0.02, reports revs in-line; guides FY15 EPS in-line, revs in-line (#$%$) : Reports Q3 (Nov) earnings of $0.75 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus Estimate of $0.73; revenues rose 13.7% year/year to $224.8 mln vs the $223.74 mln consensus.
•#$%$'s backlog at the end of the third quarter of fiscal 2015 was $300.3 million, compared to $290.0 million at the end of the third quarter of fiscal 2014.
•Incoming orders for the third quarter of fiscal 2015 were $196.1 million while revenue for the quarter totaled $224.8 million, resulting in a book to ship ratio of 0.87.
•For purposes of comparison, for the third quarter of fiscal 2014 incoming orders were $193.7 million resulting in a book to ship ratio of 0.98 for that period.
Co issues lowers guidance for FY15, sees EPS of $2.40-2.60, excluding non-recurring items, vs. $2.50 Capital IQ Consensus Estimate (previously $2.40-2.80 per share); sees FY15 revs of $825-850 mln vs. $847.54 mln Capital IQ Consensus Estimate (previously $850 million to $900 million).
•Commentary: "In the coming quarters we expect to see continued growth in the power, petrochemical, and industrial markets...We are closely monitoring developments in the oil and gas market, and the nuclear power market where the signals for continued growth are not as apparent. For the remainder of fiscal 2014, we are adjusting our projections due to the push-out of certain large nuclear related projects at our NLI business unit that we believe will now ship in the later part of our next fiscal year. Due to this move, we are narrowing our earnings guidance for the full fiscal year 2015..."
Sentiment: Strong Buy
The Toro Company Reports Record Fiscal 2014 Results
• Fiscal 2014 sales increase 6.4 percent to a record $2.2 billion
• Net earnings per share for the year up 15 percent to a record $3.02
• Quarterly cash dividend increased 25 percent to $0.25 per share
• Company achieves Destination 2014 goals and launches next employee initiative
• BOSS® acquisition closed and integration progressing well
The Toro Company
December 4, 2014 12:10 PM
BLOOMINGTON, Minn.--(BUSINESS WIRE)--
The Toro Company (TTC) today reported net earnings of $173.9 million, or $3.02 per share, on a net sales increase of 6.4 percent to $2.173 billion for its fiscal year ended October 31, 2014. In fiscal 2013, the company delivered net earnings of $154.8 million, or $2.62 per share, on net sales of $2.041 billion.
For the fourth quarter, Toro reported net earnings of $10.9 million, or $0.19 per share, on a net sales increase of 8.3 percent to $414.1 million. In the comparable fiscal 2013 period, the company posted net earnings of $5 million on net sales of $382.4 million.
The company also announced that its board of directors has declared a quarterly cash dividend of $0.25 per share, a 25 percent increase from its previous quarterly dividend rate of $0.20 per share. This dividend is payable on January 12, 2015, to shareholders of record on December 23, 2014.
“Fiscal 2014 was a significant year for The Toro Company for many reasons,” said Michael J. Hoffman, Toro’s chairman and chief executive officer. “We delivered record sales, operating earnings and earnings per share, which enabled us to successfully achieve our Destination 2014 revenue and profitability targets. We celebrated our Centennial and officially launched the company’s second century. We entered into and subsequently closed the largest acquisition in our history with the addition of the BOSS® professional snow and ice management business.
The "Street" has NWL coming in at .51 for the quarter that should be reported on or about January 31, 2015! All post's welcome! The "Good Dr's In"!