Lithia Motors Reports Adjusted EPS of $1.39 for First Quarter 2015; Revenues Increase 66%
Lithia Increases Dividend to $0.20 per Share for First Quarter
April 22, 2015 7:29 AM
MEDFORD, OR--(Marketwired - Apr 22, 2015) - Lithia Motors, Inc. ( NYSE : LAD ) reported the highest first quarter adjusted net income in Company history and increased adjusted net income from continuing operations 36% for the first quarter of 2015 over the prior year period.
2015 first quarter adjusted net income from continuing operations was $36.9 million, or $1.39 per diluted share. This compares to 2014 first quarter adjusted net income from continuing operations of $27.1 million, or $1.03 per diluted share.
Unadjusted net income from continuing operations for the first quarter of 2015 was $40.7 million, or $1.53 per diluted share, compared to $24.7 million, or $0.94 per diluted share, for the first quarter of 2014. As shown in the attached non-GAAP reconciliation tables, the 2015 first quarter per share adjusted results from continuing operations exclude a $0.09 benefit related to the gain on the sale of a store and a $0.05 benefit related to an equity investment. The 2014 first quarter per share adjusted results from continuing operations exclude a $0.09 expense related to an adjustment to a reserve associated with a lawsuit filed in 2006 and settled in 2013, a loss for a hailstorm in Texas and a reserve for a contract assumed in an acquisition.
First quarter 2015 revenue from continuing operations increased $711 million, or 66%, to $1.8 billion from $1.1 billion for the first quarter of 2014.
First Quarter-over-Quarter Operating Highlights:
•Total same store sales increased 11%
•New vehicle same store sales increased 11%
•Used vehicle retail same store sales increased 11%
•Service, body and parts same store sales increased 11%
•Same store F&I per unit increased $52 to $1,233
Sentiment: Strong Buy
8:06 am KKR beats by $0.09, beats on revs (KKR) : Reports Q1 (Mar) earnings of $0.62 per share, excluding non-recurring items, $0.09 better than the Capital IQ Consensus Estimate of $0.53; revenues fell 5.2% year/year to $294.4 mln vs the $262.08 mln consensus.
•"We had a good start to the year with strong returns and cash flow generation, which translated into $599 mln of economic net income and $517 mln of total distributable earnings. Additionally, our balance sheet continues to perform, resulting in a 20% cash return on equity over the twelve months ending March 31st
Sentiment: Strong Buy
6:23 am Stanley Black & Decker beats by $0.12, beats on revs; reaffirms FY15 EPS guidance (SWK) : Reports Q1 (Mar) earnings of $1.07 per share, $0.12 better than the Capital IQ Consensus Estimate of $0.95; revenues rose 0.5% year/year to $2.63 bln vs the $2.6 bln consensus, positive volume (+7%) and price (+1%) were substantially offset by currency (-7%).
Co reaffirms guidance for FY15, sees EPS of $5.65-5.85 vs. $5.75 Capital IQ Consensus. Despite $60 to $70 million ($0.30 to $0.35 per share) in new, incremental foreign currency om pressure year over year currency-related eps headwinds included in full year guidance now total $1.00 to $1.10 (19% to 20% of prior year eps) 2015 free cash flow still expected to be at least $1.0 billion.
Northern Trust Corporation Reports First Quarter Net Income of $230.7 Million, Earnings Per Common Share of $0.94Earnings Per Common Share Increased 25% over Prior Year Quarter
Returned $185.7 Million in Capital to Common Stockholders
Return on Average Common Equity of 11.3%
Northern Trust Corporation
April 21, 2015 7:30 AM
Northern Trust Corporation today reported first quarter net income per diluted common share of $0.94, compared to $0.75 in the first quarter of 2014 and $0.98 in the fourth quarter of 2014. Net income was $230.7 million, compared to $181.4 million in the prior year quarter and $244.0 million in the prior quarter. Return on average common equity was 11.3%, compared to 9.3% in the prior year quarter and 11.5% in the prior quarter.
“We are pleased with our financial performance in the first quarter of 2015, which reflects continued growth in our business serving personal and institutional clients. Trust, investment and other servicing fees, which represent two-thirds of our revenue, increased 7% compared to last year. New business and higher equity markets contributed to growth in assets under custody and under management of 6% and 5%, respectively. Total revenue grew 9% and we maintained a disciplined focus on expenses, which increased 3%, producing meaningful operating leverage. As a result, our pre-tax profit margin improved to 31.2% in the first quarter and our return on equity was within our target range of 10-15%. We also look forward to returning capital to our stockholders in the year ahead as the Federal Reserve did not object to the proposed capital actions in our 2015 Capital Plan. Our Capital Plan and proposed capital distributions demonstrate the strength of Northern Trust’s focused business model, financial position and commitment to stockholders,” said Frederick H. Waddell, Chairman and Chief Executive Officer.
The "Street" has SWK coming in at 1.02 for the quarter that should be reported on or about April 23, 2015! All post's welcome! The "Good Dr's In"!
8:04 am #$%$ beats by $0.04, misses on revs; guides FY16 EPS in-line, revs in-line (#$%$) : Reports Q4 (Feb) earnings of $0.63 per share, $0.04 better than the Capital IQ Consensus Estimate of $0.59; revenues rose 0.7% year/year to $182.3 mln vs the $187.41 mln consensus. Co issues in-line guidance for FY16, sees EPS of $2.75-3.25 vs. $2.97 Capital IQ Consensus Estimate; sees FY16 revs of $875-925 mln vs. $889.95 mln Capital IQ Consensus Estimate.
"As I noted on the last call, our markets remained mixed during the fourth quarter and our Galvanizing and Energy businesses were impacted by severe weather conditions resulting in delays. Within the Energy segment, WSI was impacted by the refinery strikes that slightly reduced the amount of work completed during available turnarounds. We are seeing improvements in our quoting activity within our Energy business segment, resulting in improved backlog and we anticipate further improvements in our core markets during fiscal 2016. Although we are seeing a slight impact on a couple of our businesses due to lower oil prices and reduced rig count, we continue to see a number of opportunities for growth in most of our businesses".
Sentiment: Strong Buy
4:10 pm Yahoo! misses by $0.03, misses on revs (YHOO) : Reports Q1 (Mar) earnings of $0.15 per share, $0.03 worse than the Capital IQ Consensus Estimate of $0.18; revenues fell 4.0% year/year to $1.04 bln vs the $1.05 bln consensus.
•"This quarter, we saw encouraging revenue growth of 8%, with display revenue growing a modest 2% and search growing 20% on a GAAP basis. Our mobile GAAP revenue reached $234 million in Q1, growing 61% year-over-year."
•Yahoo repurchased ~4 million shares of its common stock for $204 million and satisfied the $3.3 billion income tax liability related to the sale of Alibaba Group ADSs in 2014.
•Cash, cash equivalents, and marketable securities were $6.9 billion as of March 31, 2015
7:32 am Northern Trust beats by $0.07, reports revs in-line (NTRS) : Reports Q1 (Mar) earnings of $0.94 per share, $0.07 better than the Capital IQ Consensus Estimate of $0.87; revenues rose 9.0% year/year to $1.13 bln vs the $1.13 bln consensus.
•"We are pleased with our financial performance in [Q1], which reflects continued growth in our business serving personal and institutional clients. Trust, investment and other servicing fees, which represent two-thirds of our revenue, increased 7% compared to last year. New business and higher equity markets contributed to growth in assets under custody and under management of 6% and 5%, respectively."
The "Street" has Yahoo coming in at .21 for the quarter that should be reported on or about April 21, 2015! All post's welcome! The "Good Dr's In"!
The "Street" has NFLX coming in at .80 for the quarter that should be reported on or about April 15, 2014! All post's welcome! The "Good Dr's In"!
Jewett-Cameron Announces 2nd Quarter Financial Results
PR Newswire Jewett-Cameron Trading Company Ltd.
16 hours ago
NORTH PLAINS, Ore., April 13, 2015 /PRNewswire/ -- Jewett-Cameron Trading Company Ltd. (JCTCF) today reported financial results for the second quarter and six month periods of fiscal 2015 ended February 28, 2015.
Sales for the second quarter of fiscal 2015 totaled $9.5 million compared to sales of $9.7 million for the second quarter of fiscal 2014. Income from operations was $466,704 compared to income of $408,818 for the quarter ended February 28, 2014. Net income was $283,560, or $0.11 per share, compared to net income of $237,398, or $0.08 per share, in the year-ago quarter.
For the six months ended February 28, 2015, sales totaled $17.5 million compared to sales of $17.7 million for the six months ended February 28, 2014. Net income was $611,347, or $0.23 per share, compared to net income of $569,977, or $0.18 per share, in the first six months of fiscal 2014.
"During the second quarter, we experienced delays in receiving certain products from our suppliers due to the West Coast port slowdowns", said CEO Don Boone. "These delays resulted in higher freight costs and, combined with the prolonged winter weather across much of the country, delayed many shipments to our customers."
These delays also resulted in higher inventory levels and a lower cash balance at the end of the period. As of February 28, 2015, the Company's cash position was $12 thousand, and there was $875 thousand borrowed against its $1.0 million line of credit. Subsequent to the end of the period, the Company increased the size of its line of credit to $3.0 million.
On February 17, 2015, the Company implemented a new share repurchase plan to purchase for cancellation up to 300,000 common shares under Rule 10b5-1 of the U.S. Securities Exchange Act of 1934. This amount represents approximately 11.6% of the 2,585,661 common shares outstanding.
Sentiment: Strong Buy
The "Street" has KKR coming in at .62 for the quarter that should be reported on or about April 23, 2015! All post's welcome! The "Good Dr's In"!
Sentiment: Strong Buy
The "Street" has WETF coming in at .11 for the quarter that should be reported on or about April 30, 2015! All post's welcome! The "Good Dr's In"!
The "Street" has SONC coming in at .38 for the Quarter that should be reported on or about June 23, 2015! All post's welcome! The "Good Dr's In"!
TTI Reports Record Sales, Gross Margin And Profit For 2014
Driven by New Product Innovations and Growth in All Geographic Regions, Sales Increases 10.5% and Profit Increases 20.0%
PR Newswire Techtronic Industries Co. Ltd.
March 18, 2015 10:16 AM
HONG KONG, March 18, 2015 /PRNewswire/ -- Hong Kong-based global power equipment and floor care company Techtronic Industries Co. Ltd. ("TTI"/ The Group) (stock code: 669, ADR symbol: TTNDY) announced its results for the financial year ended December 31, 2014, achieving record sales, gross margin and profit. Shareholders' profits grew by 20.0% to US$300 million, with earnings per share increasing by 20.0% over 2013 to US 16.41 cents. Driven by new product innovations and growth in all geographic regions, sales rose by 10.5% over 2013 to a record US$4.8 billion.
TTI's largest business unit, Power Equipment, grew in sales by 13.0% to US$3.6 billion, accounting for 74.7% of total sales, and improved operating profit by 16.7% compared to 2013. The Floor Care and Appliance business grew 3.8% to US$1.2 billion in sales with operating profit expanding 15.4% from last year. Gross profit margin improved for the sixth consecutive year to 35.2% from 34.2% in 2013 driven by the introduction of new products along with our global cost improvement initiatives in purchasing, supply chain, value engineering and manufacturing. 2014 earnings before interest and tax increased by 15.4% to US$351 million, with the margin improving by 30 basis points to 7.4%. The Board is recommending a final dividend of HK19.00 cents (approximately US2.45 cents) per share, which will result in a full-year dividend 32.6% higher than last year.
Mr. Horst Pudwill, Chairman of TTI, said, "TTI had an outstanding year in 2014, and I am delighted to report record sales, gross margin and profit. Our focus on product innovation and execution allows us to deliver consistently strong results, and will continue to drive our future success."
RCI Hospitality Announces Record Quarterly Club & Restaurant Sales for 2Q15
- Total Club & Restaurant Sales of $36.7 Million - Up 12.7% vs. 2Q14
- Same Store Sales of $29.1 Million - Up 2.1% vs. 2Q14
PR Newswire RCI Hospitality Holdings, Inc.
April 9, 2015 9:00 AM
HOUSTON, April 9, 2015 /PRNewswire/ -- RCI Hospitality Holdings, Inc. (RICK) today announced total sales at adult clubs and restaurant/bars for the second fiscal quarter ended March 31, 2015. RCI expects to announce 2Q15 results on May 11, 2015.
.RCI HOSPITALITY HOLDINGS INC
Total club and restaurant sales reached $36.7 million – a quarterly record – compared to $32.6 million in the year ago quarter.
Same store sales were $29.1 million compared to $28.5 million in the year ago quarter.
There were 44 units in 2Q15 (39 adult clubs and nightclubs and 5 restaurants) versus 43 in 2Q14 (41 adult clubs and nightclubs and 2 restaurants).
Nightclub segment sales (includes adult clubs and nightclubs) totaled $31.9 million compared to $31.2 million in 2Q14.
Bombshells segment sales totaled $4.8 million compared to $1.4 million in 2Q14.
Eric Langan, President and CEO, commented, "We are very pleased Fiscal 2015 continues to perform well, in line with our plans. Average revenue per unit increased 10.2% year over year. This reflected the closing of four older, under-performing units and the addition of five with higher revenues.
"Units opened less than a year benefited from new adult clubs – Rick's Cabaret in Odessa, TX and the recently acquired Down in Texas Saloon in Austin, TX. New store sales also benefited from Bombshells in Austin, Spring and Houston, TX.
"Same store sales reflected growth at many clubs. This was partially offset by adverse weather in March, especially in the Dallas-Fort Worth market, where the company has 11 locations. New York City units had difficult comparisons to the year ago quarter, when the pro football championship was played locally."
Sentiment: Strong Buy
Sonic Doubles Earnings Per Share for Second Fiscal Quarter of 2015
Same-Store Sales Increase 11.5%
Business Wire Sonic Corp.
March 24, 2015 4:01 PM
OKLAHOMA CITY--(BUSINESS WIRE)--
Sonic Corp. (SONC), the nation’s largest chain of drive-in restaurants, today announced results for the second fiscal quarter ended February 28, 2015.
Key highlights of the company’s second quarter of fiscal year 2015 included:
Net income per diluted share was $0.14 compared with net income per diluted share of $0.07 in the prior-year period; excluding items outlined below, net income per diluted share was $0.13 in the second fiscal quarter of 2015, resulting in an 86% increase, on an adjusted basis;
System same-store sales increased 11.5%, consisting of an 11.5% same-store sales increase at franchise drive-ins and an increase of 11.2% at company drive-ins;
Company drive-in margins improved by 110 basis points; and
The company repurchased $75 million of stock through accelerated stock repurchase transactions representing approximately 4% of its outstanding stock.
“Successful company initiatives combined with an improving macro environment resulted in an exceptionally strong second fiscal quarter with 11.5% same-store sales growth. We are particularly pleased that traffic drove two-thirds of our same-store sales increase,” said Cliff Hudson, Sonic Corp. CEO. “This increase is primarily a result of growth in our core menu items and product innovation, complemented by our national media strategy. As we move into the second half of fiscal 2015 we expect our business momentum to continue. In addition, we expect technology initiatives to provide an additional layer of growth to build sales and profits over the next several years.
“We also executed accelerated share repurchase agreements during the second quarter to purchase $75 million of stock. Our fiscal year-to-date share repurchases now total $95 million.
WD-40 Company Reports Second Quarter 2015 Financial Results
~ Second quarter net sales of multi-purpose maintenance products grew 3 percent period-over-period
~~ Management updates previously issued guidance in view of current foreign currency exchange conditions
PR Newswire WD-40 Company
10 hours ago
SAN DIEGO, April 8, 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 second fiscal quarter ended February 28, 2015.
Financial Highlights and Summary
Total net sales for the second quarter were $97.3 million, an increase of 3 percent compared to the prior year fiscal quarter. Year-to-date total net sales were $193.7 million, an increase of 2 percent from the prior year fiscal period.
Translation of the Company's foreign subsidiary results to U.S. dollars had an unfavorable impact on sales for the current quarter and year to date. On a constant currency basis total net sales would have been $100.6 million for the second quarter and $196.3 million year to date.
Net income for the second quarter was $11.3 million, an increase of 10 percent compared to the prior year fiscal quarter. Year-to-date net income was $22.1 million, an increase of 1 percent from the prior year fiscal period.
Diluted earnings per share were $0.76 in the second quarter, compared to $0.67 per share for the prior year fiscal quarter. Year-to-date diluted earnings per share were $1.49 compared to $1.41 in the prior year fiscal period.
Gross margin was 52.6 percent in the second quarter compared to 51.6 percent in the prior year fiscal quarter. Year-to-date gross margin was 52.1 percent compared to 51.8 percent in the prior year fiscal period.