Spark Infrastructure reported a solid first-half 2013, with earnings before interest, tax, depreciation and amortisation, or EBITDA, increasing 11% to AUD 340 million on a proportional basis. Growth was driven by substantial tariff increases to recover increased investment, partly offset by lower volumes. Regulated asset base (RAB) grew 9% in the past year and will…
Westar management announced a cost-cutting initiative via employee reductions to save $16 million annually (roughly 3% of total operating and maintenance and selling, general, and administrative expenses) beginning in the fourth quarter of 2012 and extending through the third quarter of 2013, given continued economic weakness and soft customer growth. Westar filed an abbreviated rate…
AutoNation reported second-quarter results that matched consensus EPS expectations of $0.73 while revenue of $4.4 billion exceeded consensus expectation of $4.3 billion. Analysts intend to raise the fair value estimate to account for higher revenue growth and AutoNation capturing slightly more market share than we currently model in our five-year forecast period. The results show…
Parker Hannifin delivered fourth-quarter earnings of $1.78 per diluted share, resulting in full-year earnings of $6.26 per share. Both metrics were below our expectations as sluggish global demand in Parker’s end markets continues to stunt revenue growth. Additionally, the company has struggled to keep margins flat, which amplifies the impact on earnings. For 2014, the…
Second-quarter profits to common investors at SunTrust Banks rose 35% to $365 million, or $0.68 a diluted share, from $270 million, or $0.50 a diluted share, a year earlier. Net interest income fell 5% to about $1.2 billion, as reported net interest margin fell to 3.25% from 3.39% in 2012’s second quarter. However, SunTrust’s earnings…
Baer’s reported net income for the first half of CHF 114 million includes a significant amount of acquisition, integration, and one-off items. On an underlying basis, the bank’s net profit was CHF 261 million for the first half, up 26% from the year-ago half, as the bank benefited from higher assets under management and increased…
