Author Archives: Stephen Percoco

PulteGroup (PHM) 18Q1 Results

PulteGroup reported first quarter earnings of $166.8 million or $0.59 per share, even with a year ago, but still well ahead of the consensus estimate.  Revenues were just short of $2.0 billion, up 1.4% from the prior year.  Unit closings … Continue reading

Posted in Consumer Discretionary, Housing, Real Estate | Tagged | Comments Off on PulteGroup (PHM) 18Q1 Results

Arch Coal (ARCH) 18Q1 Results

Arch reported 18Q1 diluted EPS of $3.91, up from $2.75 in 17Q1 and well ahead of the consensus estimate of $2.71.  The gain in earnings came despite a 3.5% decline in revenues to $555.2 million, primarily because of lower expenses … Continue reading

Posted in ARCH, Materials | Tagged | Comments Off on Arch Coal (ARCH) 18Q1 Results

Verizon (VZ) 18Q1 Results

Verizon reported 18Q1 GAAP earnings of $1.22 per share, better than last year’s $1.11.  Non-GAAP adjusted EPS of $1.20 were also up from $1.17 last year.  This year’s GAAP results benefited from a $0.02 gain on a pension adjustment related … Continue reading

Posted in Telecommunications, Uncategorized | Tagged | Comments Off on Verizon (VZ) 18Q1 Results

Acme United Corp. (ACU) 18Q1 Results

The company reported diluted EPS of $0.24 per share, up from $0.21 a year ago.  Sales declined 1% to $31.4 million due mostly to a non-repeat of a large order from a distributor who was launching a first aid kit … Continue reading

Posted in ACU, Industrials | Tagged | Comments Off on Acme United Corp. (ACU) 18Q1 Results

American Express 18Q1 Results: The Momentum Continues

Earnings of $1.80 per share included a $0.21 charge related to merchant fees litigation.  Excluding that charge, AXP’s 2019 first quarter EPS would have been $2.01, up from $1.86 a year ago and in line with market expectations.  Management reported … Continue reading

Posted in AXP, Companies, Financials | Tagged | Comments Off on American Express 18Q1 Results: The Momentum Continues

Cloud Peak Energy: Valuable Assets But Little Income

On January 29, Cloud Peak Energy (“CPE”) announced that it had hired a team of professionals to help it review its capital structure and formulate restructuring alternatives. That followed its announcement last November that it was pursuing strategic alternatives, including … Continue reading

Posted in CLD, Materials, Uncategorized | Tagged , | Comments Off on Cloud Peak Energy: Valuable Assets But Little Income

Back of the Envelope: The New Dow Chemical

DowDuPont, the chemical behemoth created in 2017 from the merger of The Dow Chemical Company and E.I. DuPont de Nemours and Company, is set to spin-off Dow Holdings (“New Dow” or DOW) on April 1.  This is the first of … Continue reading

Posted in DOW, DWDP, Materials | Tagged , | Comments Off on Back of the Envelope: The New Dow Chemical

Senior Housing Properties Trust Nears Restructuring/ Acquisition of Five Star

After reporting a 2018 fourth quarter loss of $23 million, negative EBITDA for the quarter of $12.5 million and a $51 million drawdown on its bank credit facility, it is clear that Five Star, SNH’s largest tenant, must obtain a … Continue reading

Posted in DHC, FVE, Real Estate, SNH | Tagged , | Comments Off on Senior Housing Properties Trust Nears Restructuring/ Acquisition of Five Star

Housing Market Update – February 2019

The outlook for housing (or more precisely, sentiment about the outlook for housing) has improved in recent weeks, primarily because of the decline in mortgage rates.  The average rate on the 30-year mortgage has fallen by 57 basis points (bp) … Continue reading

Posted in Consumer Discretionary, Housing, Market Commentary, Real Estate | Tagged , | Comments Off on Housing Market Update – February 2019

GE 18Q4 Results: Curb Your Enthusiasm

General Electric (GE) posted 2018 fourth quarter results that were viewed positively by the financial community primarily because there were no new major negative surprises. Although management gave an update on the company’s recent progress and certain aspects of its … Continue reading

Posted in GE, Industrials | Tagged | Comments Off on GE 18Q4 Results: Curb Your Enthusiasm