Idexx Laboratories posted solid third-quarter results that fell squarely within expectations. The firm has made progress in its remodeling of its salesforce structure to a new configuration that makes it easier for customers to interact with a single point of access at Idexx, and we expect this reorganization should manifest itself in further growth over…
Banco Bilbao Vizcaya Argentaria announced that it is reducing its 15% stake in China CITIC Bank to 9.9% in order to increase its Basel III capital ratio. Because it will be below 10%, the CITIC stake will no longer be considered a “significant” investment, which alters the accounting methodology. The accounting will change from the equity…
Zions Bancorporation’s earnings more than tripled in the third quarter, rising to $210 million, or $1.12 per diluted share, from $62 million, or $0.34 per share, a year earlier. A preferred stock redemption lifted the latest profit tally by $126 million, or $0.68 per share. We are not changing our fair value estimate or our…
Diageo issued a brief interim management statement for the three months ended Sept. 30. Overall, the company’s organic net sales climbed 3.1% in the period, led by North America (up 5.1%) and Latin America and Caribbean (up 10.9%). Analysts continue to believe that over the next decade Diageo will grow revenue by almost 6% per…
In the third quarter of 2013, Steel Dynamics delivered improved sequential operating results. Companywide operating income increased 64% to $113 million in the third quarter from a base of $69 million in the second quarter. While shipment volume increased across nearly every product line, steel operating income per ton increased to $94, which amounts to…
Despite facing difficult year-over-year comparisons, narrow-moat rated Blackstone reported positive results for the third quarter, with economic net income, or ENI, rising 3% on a 1% increase in revenue. Total assets under management, or AUM, reached a record $248 billion, up 21% when compared with third quarter 2012, with double-digit gains reported in each of…
