Energy Transfer Equity posted fourth-quarter and full-year results that were largely in line with expectations, although the fourth quarter was down modestly from last year. Distributions from Energy Transfer Partners and Regency totaled $237 million for the quarter versus $182 million a year ago. However, in 2012 ETE had also received $75 million from its…
CoreLogic (NYSE: CLGX) announced that intends to divest its Asset Management and Processing Solutions segment, the area of its business that offers services to banks that allow them to handle their portfolio of foreclosed properties. The segment will now be classified as held for sale, and the company will take a noncash impairment charge of…
Pinnacle West Capital reported 2013 ongoing earnings of $3.66 per share versus $3.50 per share in 2012. The results were $0.03 better than the consensus estimate. Pinnacle West reiterated its 2014 ongoing earnings guidance of $3.60-$3.75 per share. Pinnacle West pushed its three-year financial outlook forward one year to 2014-16. One notable difference is that…
Equinix (NASDAQ:EQIX) reported solid Q4 results, modestly ahead of the Street and management’s guidance. Based on recurring FCF estimates, the market is already pricing in a favorable REIT conversion ruling, with shares trading at a modest premium to other REITs. Moreover, if the company does not receive a positive ruling, analysts see significant downside in…
Cumulus Media (NASDAQ:CMLS) reported net revenues of $328M for the fourth quarter. 4Q revenue was positively impacted by healthy advertising trends across auto, healthcare and financial services, slightly offset by weakness across retail, tracking weaker holiday sales. EBITDA was $96M (+6% yoy), mostly driven by investments that took place earlier in the year, improving margins…
Life Time’s fourth-quarter EPS rose 13%, to $0.63, ahead of our and the consensus estimates of $0.62 and at the high end of management’s implied guidance of $0.61 to $0.63, although the upside versus consensus expectations came courtesy of a $0.015 benefit from a lower-than-expected tax rate. Membership trends were once again shy of expectations,…
