Pengrowth Energy reported earnings after the market close Wednesday. Earnings and cash flow fell, and uncertainty over the sustainability of the dividend persisted. The firm is once again in the position of requiring additional divestitures or making a dividend cut within the upcoming year. The problem for Pengrowth is that the continued payment of the…
Huaneng Power International reported 2013 third-quarter earnings of $1.52 per ADR compared with $0.92 per ADR in 2012’s third quarter. The reported results included an asset impairment charge and loss on disposal of noncurrent assets that reduced reported earnings by roughly $0.24 per ADR. Low market coal prices continue to drive strong earnings. We are…
SVB Financial Group’s first-quarter profits available to common investors rose 18% to $40.9 million, or $0.90 per diluted share, from $34.8 million, or $0.78 per diluted share, in the year-earlier first quarter. We are not changing our $55 per share fair value estimate or our narrow economic moat rating at this time. Noninterest expense rose…
Total System Services, or TSYS, delivered a 38% year-on-year increase in adjusted third-quarter profits, reflecting the completion of a recent acquisition. On a GAAP basis, earnings rose 7% to $64.4 million, or $0.34 per share, from $60.3 million, or $0.32 per share, in the year-earlier quarter. Excluding acquisition-related intangible amortization, stock compensation and merger expenses,…
Polaris continues to deliver better-than-expected results, benefiting from persistent demand in response to well-received product launches and healthy growth in recently acquired businesses. While our narrow moat is predicated on strength in the firm’s brand and traditional product categories, we believe acquisitions and expansion into adjacent businesses could act as a major catalyst for earnings…
KeyCorp earned $229 million, or $0.25 per diluted share, for the third quarter, up from $211 million, or $0.22 per diluted share, for the same period in 2012. Non interest income grew to $459 million from $429 million in the previous quarter. Reported net interest was $584 million, flat with the previous quarter. Net interest…
